HomeMy WebLinkAbout2016-05-16-H02 Storm Water Revenue CLN PHNO Waukee
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AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 16, 2016
AGENDA ITEM: On the authorization of a Loan Agreement and the issuance of not to
exceed $680,000 Storm Water Revenue Capital Loan Notes of the City
of Waukee, State of Iowa
FORMAT: Public Hearing
SYNOPSIS INCLUDING PRO & CON: The bond proceeds will be used to provide funds to
pay the costs of improvements and extensions to the Municipal Storm
Water Management Utility, including Centennial Park Creek Project
involving erosion control, tree planting, native grass and restoration for
creek stabilization, and the Public Works/School Detention Pond project.
FISCAL IMPACT INCLUDING COSTBENEFIT ANALYSIS:
COMMISSIONBOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Hold the public hearing.
ATTACHMENTS: I. Notice of Hearing
PREPARED BY: Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION -
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NAME OF PUBLICATION: Dallas County News
DATE OF PUBLICATION: 4/14/2016
Not to exceed $680,000
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
WAUKEE, IOWA ON THE MATTER OF THE PROPOSED
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $680,000 STORM WATER
REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC HEARING
ON THE AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the Council of the City of Waukee, Iowa, will hold a public
hearing on the 161" day of May, 2016, at 5:30 P.M., in the Council Chambers, City Hall, 230 W. 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 $680,000 Storm Water Revenue Capital Loan
Notes, at a rate not exceeding 8%, to evidence the obligations of the City under said Loan Agreement, in
order to provide funds to pay the costs of improvements and extensions to the Municipal Storm Water
Management Utility, including improvements and extensions to the Municipal Storm Water Management
Utility, including Centennial Park Creek Project involving erosion control, tree planting, native grass and
restoration for creek stabilization, and the Public Works/School Detention Pond project. The Note 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 Storm Water Management Utility. Pursuant to Chapter 204A of the
Municipal Code of the City of Waukee, Storm Water Management Utility service charges are imposed
upon and collected from the owners or occupants of all lots, parcels of real estate and buildings within the
corporate limits of the City. Effective July 1, 2016, flat rates will be charged for each class of property as
follows: Undeveloped ($0.00/month), and Residential ($5.75/month). Commercial/Industrial parcels are
charged $5.75 per "equivalent residential unit" (ERU). ERU's are the average impervious area of
residential developed property per dwelling unit located within the city as periodically determined and
established by the City to be two thousand nine hundred seventy three (2,973) square feet of impervious
surface area. The number of ERU on each property shall be calculated by the Engineering Department
based on the most recent aerial photograph available to the city of Waukee and/or impervious surface data
from an approved Site Plan for the property. The above rates are invoiced as of the last day of the month
and billed on the customers combined service account through the City's Utility Billing Department. Bills
shall be due and payable by the twentieth (20`11) of the month following the end of each monthly billing
cycle, with late payment penalties, liens, and discontinuation of service as outlined in Chapter 204A of the
Municipal Code of the City of Waukee. Rates and billing procedures may be adjusted by the City from
time to time.
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 this meeting or at any adjournment thereof, take additional action for the authorization of
said Loan Agreement and the issuance of Note or will abandon the proposal to issue the Notes.
This Notice is given by order of the Council of Waukee, Iowa, as provided by Sections 384.24A
and 384.84A of the Code of Iowa, as amended.
Dated this 4"' day of April, 2015.
Rebecca D.Schuett
City Clerk of Waukee, Iowa
(End of Notice)