HomeMy WebLinkAbout2015-05-18-Resolutions 15-147_Bonds - Water Revenue CLN - Set PHRESOLUTION 15-147
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $1,540,000 WATER REVENUE
CAPITAL LOAN NOTES OF THE CITY OF WAUKEE,STATE OF
IOWA,AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF
WHEREAS,it is deemed necessary and advisable that the City of Waukee,State of Iowa,
should provide for the authorization of a Loan Agreement and the issuance of Water Revenue
Capital Loan Notes,in the amount of not to exceed $1,540,000,as authorized by Sections
384.24A and 384.83,Code of Iowa,as amended,for the purpose of providing funds to pay costs
as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable solely and only out of the
Net Revenues of the Waukee Water Utility and shall be a first lien on the future Net Revenues of
the Utility;and shall not be general obligations of the City or payable in any manner by taxation
and the City shall be in no manner liable by reason of the failure of the Net Revenues to be
sufficient for the payment of the Loan Agreement and Notes;and
WHEREAS,before a Loan Agreement may be authorized and Water Revenue Capital
Loan Notes issued to evidence the obligation of the City thereunder,it is necessary to comply
with the provisions of the City Code of Iowa,as amended,and to publish a notice of the proposal
and of the time and place of the meeting at which the Council proposes to take action for the
authorization of the Loan Agreement and Notes and to receive oral and/or written objections
from any resident or property owner of the City to such action.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230 West
Hickman Road,Waukee,Iowa,at 5:30 P.M.,on the I"day of June,2015,for the purpose of
taking action on the matter of the authorization of a Loan Agreement and the issuance of not to
exceed $1,540,000 Water Revenue Capital Loan Notes,to evidence the obligations of the City
thereunder,the proceeds of which will be used to provide funds to pay the costs of improvements
and extensions to the municipal water system,including installation of new water main.
Section 2.The Clerk is authorized and directed to proceed on behalf of the City with the
negotiation of terms of a Loan Agreement and the issuance of Water Revenue Capital Loan
Notes,to a principal amount of not to exceed $1,540,000,to select a date for the final approval
thereof,to cause to be prepared such notice and sale information as may appear appropriate,to
publish and distribute the same on behalf of the City and this Council and otherwise to take all
action necessary to permit the completion of a loan on a basis favorable to the City and
acceptable to the Council.
Section 3.That the Clerk is hereby directed to cause at least one publication to be made
of a notice of the meeting,in a legal newspaper,printed wholly in the English language,
published at least once weekly,and having general circulation in the City.The publication to be
not less than four clear days nor more than twenty days before the date of the public meeting on
the issuance of the Notes.
Section 4.The notice of the proposed action shall be in substantially the following form:
(To be published on or before:May 26,2015)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA,ON THE MATTER OF THE
PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND
THE ISSUANCE OF NOT TO EXCEED $1,540,000 WATER
REVENUE CAPITAL LOAN NOTES,AND THE PUBLIC
HEARING ON THE AUTHORIZATION AND ISSUANCE
THEREOF
PUBLIC NOTICE is hereby given that the City Council of the City of Waukee,State of
Iowa,will hold a public hearing on the I"day of June,2015,at 5:30 P.M.,in the Council
Chambers,City Hall,230 West Hickman Road,Waukee,Iowa,at which meeting the Council
proposes to take additional action for the authorization of a Loan Agreement and the issuance of
not to exceed $1,540,000 Water Revenue Capital Loan Notes,in order to provide funds to pay
the costs of improvements and extensions to the municipal water system,including installation of
new water main.The Notes will not constitute general obligations or be payable in any manner
by taxation,but will be payable from and secured by the Net Revenues of the Waukee Water
Utility.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City,to the above action.After all objections have been
received and considered,the Council will at this meeting or at any adjournment thereof,take
additional action for the authorization of a Loan Agreement and the issuance of Notes or will
abandon the proposal to issue the Notes.
This Notice is given by order of the City Council of the City of Waukee,State of Iowa,as
provided by Sections 384.24A and 384.83 of the City Code of Iowa,as amended.
Dated this 18'"day of May,2015.
Rebecca D.Schuett
City Clerk,City of Waukee,State of Iowa
(End of Notice)
PASSED AND APPROVED this 18'day of May,2015.
M r
ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN