HomeMy WebLinkAbout2018-03-19-J01zAA Bond_Sewer Revenue_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 $4,000,000 Sewer Revenue Bonds
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The proposed General Obligation Bonds will be
used to finance the costs of improvements and extension of the City’s
sewer utility.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $4,000,000
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:
J1AA
RESOLUTION 18-
RESOLUTION FIXING DATE FOR A MEETING ON THE
PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED
$4,000,000 SEWER REVENUE BONDS OF THE CITY OF
WAUKEE, STATE OF IOWA, AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, the City of Waukee, State of Iowa, is in need of funds to carry out the
purpose hereinafter described; and, it is deemed necessary that the City should issue Sewer
Revenue Bonds, to the amount of not to exceed $4,000,000, as authorized by Sections 384.82, of
the Code of Iowa, for the purpose of providing funds to pay costs thereof; and
WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa,
should issue Sewer Revenue Bonds, to the amount of not to exceed $4,000,000, as authorized by
Section 384.82, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying
out corporate purpose project(s) as hereinafter described; and
WHEREAS, before the Bonds may be issued, it is necessary to comply with the
provisions of the Code, and to publish a notice of the proposal to issue such bonds and of the
time and place of the meeting at which the Council proposes to take action for the issuance of the
Bonds and to receive oral and/or written objections from any resident or property owner of the
City to such action.
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 $4,000,000 Sewer Revenue Bonds,
the proceeds of which bonds will be used to provide funds to pay the costs of improvements and
extension to the City’s municipal sewer utility.
Section 2.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 four clear days nor more than twenty days before the date of the public meeting on
the issuance of the Bonds.
Section 3.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 $4,000,000
SEWER REVENUE BONDS OF THE CITY, 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 $4,000,000 Sewer Revenue
Bonds, of the City. The bonds will not constitute general obligations or be payable in any
manner by taxation, but will be payable from and secured by the Net Revenues of the Municipal
Sewer Utility. The bonds are proposed to be issued for the purpose of paying costs of
improvements and extension to the City’s municipal sewer utility.
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 take such other action as it may deem
appropriate.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Chapter 384 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