HomeMy WebLinkAbout2015-09-21-Resolutions 15-322_Bonds - GO CLN GCP - Set PHRESOLUTION 15-322
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $550,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES OF THE CITY OF
WAUKEE,STATE OF IOWA (FOR GENERAL CORPORATE
PURPOSES),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 issuance of General Obligation
Capital Loan Notes,to the amount of not to exceed $550,000,as authorized by Sections 384.24A
and 384.26,of the Code of Iowa,for the purpose of providing funds to pay costs of carrying out
general corporate purpose project(s)as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable from the Debt Service
Fund;and
WHEREAS,the Issuer has a population of more than 5,000 but not more than 75,000,
and the Notes for these purposes do not exceed $700,000;and
WHEREAS,before a Loan Agreement may be authorized and General Obligation Capital
Loan Notes,issued to evidence the obligation of the City thereunder,it is necessary to coniply
with the provisions of the 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;and
WHEREAS,before the Notes may be issued,it is necessary to comply with the
provisions of Chapter 384 of the Code of Iowa,and to publish a notice of the proposal to issue
such Notes and the right to petition for an election.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230 West
Hicktnan Road,Waukee,Iowa,at 5;30 P.M.,on the 5'"day of October,2015,for the purpose of
taking action on the matter of the authorization of a Loan Agreement and issuance of not to
exceed $550,000 General Obligation Capital Loan Notes,for general corporate purposes,the
proceeds of which notes will be used to provide funds to pay the costs of improvements to City
facilities,including HVAC and roof at the library,and parking lot improvements at City Hall and
shall bear interest at a rate not exceeding the maximum specified in the attached notice.
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 General Obligation Capital Loan
Notes,evidencing the City's obligations to a principal amount of not to exceed $550,000,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 ten 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 to issue notes shall be in substantially the
following form;
(To be published on or before:September 24,2015)
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
$550,000 GENERAL OBLIGATION CAPITAL LOAN NOTES
OF THE CITY (FOR GENERAL CORPORATE PURPOSES),
AND THE HEARING ON THE 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 5"day of October,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 $550,000 General Obligation Capital Loan Notes,for general corporate purposes,
bearing interest at a rate of not to exceed nine (9)per centum per annum,the Notes to be issued
to provide funds to pay the costs of improvements to City facilities,including HVAC and roof at
the library,and parking lot improvements at City Hall.Principal and interest on the proposed
Loan Agreement will be payable from the Debt Service Fund.
At any time before the date of the meeting,a petition,asking that the question of issuing
such Notes be submitted to the legal voters of the City,may be filed with the Clerk of the City,
including the drop box at City Hall during non-business hours,in the manner provided by
Section 362.4 of the Code of Iowa,pursuant to the provisions of Sections 384.24A and 384.26 of
the Code of Iowa.
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 the meeting or at any adjournment thereof,take
additional action for the authorization of a Loan Agreement and the issuance of the Notes to
evidence the obligation of the City thereunder or will abandon the proposal to issue said 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 384.26 of the Code of Iowa.
Dated this 21"day of September,2015.
Rebecca D.Schuett
City Clerk,City of Waukee,State of Iowa
(End of Notice)
PASSED AND APPROVED this 21"day of September,2015.
ayor
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