HomeMy WebLinkAbout2020-10-19-H02 Golf Course Revenue Refunding CLN_Accept ProposalAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: October 19, 2020
AGENDA ITEM:Consideration of approval of a resolution directing the acceptance of a
proposal to purchase Not to exceed $330,000 Golf Course Revenue
Refunding Capital Loan Notes, Series 2020
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
II. Charter Bank proposal
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H2
RESOLUTION NO. ___________
RESOLUTION DIRECTING THE ACCEPTANCE OF A
PROPOSAL TO PURCHASE NOT TO EXCEED $330,000
GOLF COURSE REVENUE REFUNDING CAPITAL LOAN
NOTES, SERIES 2020
WHEREAS, the City of Waukee, sometimes hereinafter referred to as the City, is a
municipal corporation duly incorporated, organized and existing under and by virtue of the
Constitution and laws of the State of Iowa; and
WHEREAS, it is deemed necessary that the City should enter into a Loan Agreement and
borrow the amount of not to exceed $330,000 as authorized by Sections 384.24A and 384.83,
Code of Iowa as amended; and
WHEREAS, a proposal has been received from Charter Bank of Waukee, Iowa; and
WHEREAS, it is the intention of this City Council to enter into a Loan Agreement in
accordance with said proposal dated September 10, 2020.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1.That this City Council does hereby accept the attached proposal of Charter
Bank of Waukee, Iowa, and takes additional action to permit the entering into of a Loan
Agreement.
Section 2.The Mayor and City Clerk are authorized and directed to proceed on behalf of
the City to enter into such Loan Agreement, to negotiate the final terms of a Loan Agreement to
take all action necessary to permit the entering into of a Loan Agreement on a basis favorable to
the City and acceptable to the Purchaser, and to proceed to meet the conditions of this accepted
proposal.
PASSED AND APPROVED this 19th day of October, 2020.
Mayor
ATTEST:
City Clerk