HomeMy WebLinkAbout2018-03-19-J01Y Bond_GO ECP-UR1_Set PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: March 19, 2018
AGENDA ITEM:Consideration of approval of a resolution fixing date for a meeting on the
proposition to issue not to exceed $13,200,000 General Obligation Urban
Renewal Bonds (ECP/UR-1)
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The proposed General Obligation Bonds will be
used to finance the costs of aiding in the planning, undertaking and
carrying out of urban renewal projects, including Alice’s Road and
Kettlestone improvements.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $13,200,000
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution setting the public hearing date for April 2,
2018.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
J1Y
RESOLUTION 18-
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$13,200,000 GENERAL OBLIGATION URBAN RENEWAL
BONDS OF THE CITY OF WAUKEE, STATE OF IOWA (FOR
ESSENTIAL CORPORATE URBAN RENEWAL PURPOSES),
AND PROVIDING FOR PUBLICATION OF NOTICE
THEREOF
WHEREAS, the City Council previously has found and determined that certain areas
located within the City are eligible and should be designated as urban renewal areas under Iowa
law, and has approved and adopted the Urban Renewal Plan for the Gateway Economic
Development Urban Renewal Area on October 21, 2013, pursuant to Resolution No. 13-257, and
subsequent amendments to the same on November 17, 2014, pursuant to Resolution No. 14-320;
October 19, 2015, pursuant to Resolution No. 15-350; November 21, 2016 pursuant to
Resolution No. 16-490 and October 16, 2017 pursuant to Resolution No. 17-485; and
WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa, should
issue General Obligation Urban Renewal Bonds, to the amount of not to exceed $13,200,000, as
authorized by Sections 384.25 and 403.12, of the Code of Iowa, for the purpose of providing
funds to pay costs of carrying out essential corporate urban renewal purpose project(s) as
hereinafter described; and
WHEREAS, before bonds may be issued, it is necessary to comply with the procedural
requirements of Chapters 384 and 403 of the Code of Iowa, and to publish a notice of the
proposal to issue such bonds 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
Hickman Road, Waukee, Iowa, at 5:30 P.M., on the 2nd day of April, 2018, for the purpose of
taking action on the matter of the issuance of not to exceed $13,200,000 General Obligation
Urban Renewal Bonds, for essential corporate urban renewal purposes, the proceeds of which
bonds will be used to provide funds to pay the costs of aiding in the planning, undertaking and
carrying out of urban renewal projects under the authority of Iowa Code chapter 403 and the
Urban Renewal Plan for the Gateway Economic Development Urban Renewal Area, including
street, streetscape, lighting, traffic signals, street signage, and trail improvements for the Alice's
Road extension and developer incentives and improvements within the Kettlestone Master Plan,
with related site improvements.
Section 2.To the extent any of the projects or activities described in this resolution may
be reasonably construed to be included in more than one classification under Division III of
Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose"
classification and procedure with respect to each such project or activity, pursuant to Section
384.28 of the Code of Iowa.
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 Bonds.
Section 4.The notice of the proposed action to issue bonds shall be in substantially the
following form:
(To be published on or before: March 20, 2018)
NOTICE OF MEETING OF THE CITY COUNCIL OF THE
CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF
THE PROPOSED ISSUANCE OF NOT TO EXCEED
$13,200,000 GENERAL OBLIGATION URBAN RENEWAL
BONDS OF THE CITY (FOR ESSENTIAL CORPORATE
URBAN RENEWAL 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 2nd day of April, 2018, 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 issuance of not to exceed $13,200,000 General
Obligation Urban Renewal Bonds, for essential corporate urban renewal purposes, to provide
funds to pay the costs of aiding in the planning, undertaking and carrying out of urban renewal
projects under the authority of Iowa Code chapter 403 and the Urban Renewal Plan for the
Gateway Economic Development Urban Renewal Area, including street, streetscape, lighting,
traffic signals, street signage, and trail improvements for the Alice's Road extension and
developer incentives and improvements within the Kettlestone Master Plan, with related site
improvements.
At any time before the date of the meeting, a petition, asking that the question of issuing
such Bonds 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 384.24(3)(q), 384.25
and 403.12 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 issuance of the Bonds or will abandon the proposal to issue said Bonds.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Chapters 384 and 403 of the Code of Iowa.
Dated this 19th day of March, 2018.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)
PASSED AND APPROVED this 19th day of March, 2018.
Mayor
ATTEST:
City Clerk