HomeMy WebLinkAbout2020-10-19-H01 Golf Course Revenue Refunding CLN_Additional ActionAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: October 19, 2020
AGENDA ITEM:Consideration of approval of a resolution instituting proceedings to take
additional action for the authorization of a Loan Agreement and the
issuance of Not to exceed $330,000 Golf Course Revenue Refunding
Capital Loan Notes
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON:
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $330,000
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H1
RESOLUTION 2020-
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORIZATION OF A
LOAN AGREEMENT AND THE ISSUANCE OF NOT TO
EXCEED $330,000 GOLF COURSE REVENUE REFUNDING
CAPITAL LOAN NOTES
WHEREAS, pursuant to notice published as required by law, this Council has held a
public meeting and hearing upon the proposal to institute proceedings for the authorization of a
Loan Agreement and the issuance of not to exceed $330,000 Golf Course Revenue Refunding
Capital Loan Notes, for the purpose of paying costs of adjusting, extending and refunding
existing Golf Course Revenue indebtedness including the outstanding portion of the $600,000
Golf Course Revenue Refunding Capital Loan Notes, Series 2016, and has considered the extent
of objections received from residents or property owners as to the proposal and, accordingly the
following action is now considered to be in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That this Council does hereby institute proceedings and take additional action
for the authorization of a Loan Agreement and issuance in the manner required by law of not to
exceed $330,000 Golf Course Revenue Refunding Capital Loan Notes, for the foregoing
purpose.
Section 2. The Clerk is authorized and directed to proceed on behalf of the City with the
sale of said Notes, to select the principal amount of Notes to be sold and a date for the sale
thereof, to cause to be prepared such sale information as may appear appropriate, to distribute the
same on behalf of the City and this Council and otherwise to take all action necessary to permit
the sale of said Bonds on a basis favorable to the City and acceptable to the Council.
PASSED AND APPROVED this 19th day of October, 2020.
Mayor
ATTEST:
City Clerk