HomeMy WebLinkAbout2016-02-16-Resolutions 16-056_Reimbursement - Official IntentTHE CITY OF WAUKEE,IOWA
RESOLUTION 16-056
RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY
REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR
CERTAIN ORIGINAL EXPENDITURES PAID IN CONNECTION WITH
SPECIFIED PROJECTS
IN THE NAMEAND BY THE AUTHORITYOF THE CITY OF WAUKEE,108'A
WHEREAS,the City of Waukee,Iowa is a duly organized municipality within Dallas
County;AND,
WHEREAS,the City anticipates making cash expenditures for one or more capital
improvement projects,generally described and attached hereto as Exhibit A,and
hereinafter referred to as "Project";AND,
WHEREAS,the City reasonably expects to issue debt to reimburse the costs of a
Project;AND,
WHEREAS,the Council believes it is consistent with the City's budgetary and financial
circumstances to issue this declaration of official intent.
NOW THEREFORE BE IT RESOLVED by the City of Council of the City of
Waukee,Iowa:
Section 1.That this Resolution be and does hereby serve as a declaration of official
intent under Treasury Regulation 1.150-2.
Section 2.That it is reasonably expected that capital expenditures will be made in
respect of the foregoing Project,from time to time and in such amounts as this Council
determines to be necessary or desirable under the circumstances then and there existing.
Section 3.That the City reasonably expects to reimburse all or a portion of the foregoing
expenditures with the proceeds of bonds,notes or other indebtedness to be issued or
incurred by the City in the future.
Section 4.That the total estimated costs of the Project,the maximum principal amount
of the bonds,notes or other indebtedness to be issued for the foregoing Project and the
estimated dates of completion of the Project are reasonably expected to be as follows:
See Exhibit A attached
~It is intended to seek grants and other contributions to reduce the amount of borrowing
required for several of the attached projects.Ifsuch grants are not received,it is
intended (hat the costs to be financed will be increased accordingly.
Section 5.That the City reasonably expects to reimburse the above —mentioned Project
costs not later than the later of eighteen months after the capital expenditures are paid or
eighteen months after the property is placed in service.
Section 6.That this Resolution be maintained by the City Clerk in an Official Intent File
maintained in the office of the Clerk and available at all times for public inspection,
subject to such revisions as may be necessary.
PASSED AND APPROVED this 16'"day of February,2016
illiam .Peard,Mayor
Attest:
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Shelly Hughes
Larry R.Lyon
Rick Peterson
AYE
X
X
X
X
X
NAY ABSENT ABSTAIN
Exhibit "A"
Reimbursement Resolution -February 16,2016
Project
Centennial Park Creek Stabilization
School/City Detention Pond
Advancing Fund
Storm Water
Storm Water
Estimated
Project Cost$465,000$170,000
Amount to
Borrow
465,000$170,000
Estimated Date
of Completion
Fall 2016
Fall 2017
Kettlestone East Sewer-Phase il
Little Walnut Creek Sewer-Phase II
Northwest Outfall Sewer
Western Outfall Sewer-Phase I
Waste Water
Waste Water
Waste Water
Waste Water
$700,000$1,700,000$4,ooo,ooo$750,000
$7OO,OOO$1,700,000$4,ooo,ooo
$75O,OOO
Winter 2017
Winter 2017
Spring 2018
Spring 2018
RRVT Trailhead Improvements
Grand Prairie Pkwy Enhancements-Phase 1
Westgate Dr/Hickman Traffic Signals
Shared Fuel Facility
Capital Projects
Capital Projects
Ca pita I Projects
Capital Projects
$1,125,000$2,100,000$430,000$265,000
$177,000$2,100,000$340,000$265,000
Fall 2017
Fall 2017
Fall 2017
Fall 2016