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Home My WebLink About2021-09-20-Resolution 2021-401_Bonds, GO Urban Renewal Series 2021B, Advertise Sale-Approve Official StatementRESOLUTION 2021-401 RESOLUTION DIRECTING THE ADVERTISEMENT FOR SALE OF $19,760,000 GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2021 B, AND APPROVING ELECTRONIC BIDDING PROCEDURES AND OFFICIAL STATEMENT WHEREAS, the Issuer is in need of funds to pay 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 Plans for the Waukee Unified Urban Renewal Area, as amended, the Waukee Consolidated Urban Renewal Area, as amended, and the North Waukee Residential Urban Renewal Area, including opening, widening, extending, grading, and draining of the right- of-way of streets, highways, avenues, alleys and public grounds, and market places, and the removal and replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of any street improvements, bridges, grade crossing separations and approaches; the acquisition, installation, and repair of sidewalks, culverts, retaining walls, storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices and signage; and the acquisition of any real estate needed for any of the foregoing purposes, essential corporate urban renewal purpose project(s), and it is deemed necessary and advisable that the City issue General Obligation Urban Renewal Bonds, for such purpose(s) to the amount of not to exceed $35,000,000 as authorized by Sections 384.25 and 403.12 of the Code of Iowa; and WHEREAS, pursuant to notice published as required by Sections 384.25 and 403.12 this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of said Bonds, and all objections, if any, to such Council action made by any resident or property owner of the City were received and considered by the Council; and no petition having been filed, it is the decision of the Council that additional action be taken for the issuance of said Bonds for such purpose(s), and that such action is considered to be in the best interests of the City and the residents thereof; and WHEREAS, the City previously issued its $17,305,000 General Obligation Bonds, Series 2021 A, of which $1 1,355,000 was allocable to the aforementioned bonding authority, thus sufficient bonding authority remains to issue the Bonds contemplated herein; and WHEREAS, in conjunction with its Municipal Advisor, PFM Financial Advisors LLC, the City has caused an Official Statement to be prepared outlining the details of the proposed sale of the Bonds; and WHEREAS, the Council has received information from its Municipal Advisor evaluating and recommending the procedure hereinafter described for electronic, facsimile and internet bidding to maintain the integrity and security of the competitive bidding process and to facilitate the delivery of bids by interested parties; and WHEREAS, the Council deems it in the best interests of the City and the residents thereof to receive bids to purchase such Bonds by means of both sealed and electronic internet communication. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE, STATE OF IOWA: Section 1. That the receipt of electronic bids by facsimile machine and through the Parity Competitive Bidding System described in the Notice of Sale and Official Statement are hereby found and determined to provide reasonable security and to maintain the integrity of the competitive bidding process, and to facilitate the delivery of bids by interested parties in connection with the offering at public sale. Section 2. That General Obligation Urban Renewal Bonds, Series 2021 B, of City of Waukee, State of Iowa, in the amount of $19,760,000, to be issued as referred to in the preamble of this Resolution, to be dated November 4, 2021, be offered for sale pursuant to the published advertisement. Section 3. That the preliminary Official Statement in the form presented to this meeting be and the same hereby is approved as to form and deemed final for purposes of Rule 15c2-12 of the Securities and Exchange Commission, subject to such revisions, corrections or modifications as the Mayor and City Clerk, upon the advice of bond counsel, disclosure counsel, and the City's Municipal Advisor, shall determine to be appropriate, and is authorized to be distributed in connection with the offering of the Bonds for sale. Section 4. That the Clerk is hereby directed to publish notice of sale of the Bonds at least once, the last one of which shall be not less than four clear days nor more than twenty days before the date of the sale. Publication shall be made in the "The Dallas County News", a legal newspaper, printed wholly in the English language, published within the county in which the Bonds are to be offered for sale or an adjacent county. The notice is given pursuant to Chapter 75 of the Code of Iowa, and shall state that this Council, on the 41" day of October, 2021, at 5:30 P.M., will hold a meeting to receive and act upon bids for said Bonds, which bids were previously received and opened by City Officials at 10:00 A.M. on said date. The notice shall be in substantially the following form: -2- (To be published on or before September 28, 2021) NOTICE OF BOND SALE Time and Place of Sealed Bids: Bids for the sale of Bonds of the City of Waukee, State of Iowa, hereafter described, must be received at the office of the City Clerk, Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa 50263; Telephone: 515-987-4522 (the "Issuer") before 10:00 A.M., on the 41" day of October, 2021. The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the TERMS OF OFFERING. The Bonds: The Bonds to be offered are the following: GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2021 B, in the amount of $19,760,000*, to be dated November 4, 2021 (the "Bonds") *Subject to principal adjustment pursuant to official Terms of Offering. Manner of Bidding: Open bids will not be received. Bids will be received in any of the following methods: Sealed Bidding: Sealed bids may be submitted and will be received at the office of the City Clerk at City Hall, 230 West Hickman Road, Waukee, Iowa 50263. Electronic Internet Bidding: Electronic internet bids will be received at the office of the City Clerk at City Hall, 230 West Hickman Road, Waukee, Iowa 50263. The bids must be submitted through the PARITY® competitive bidding system. Electronic Facsimile Bidding: Electronic facsimile bids will be received at the office of the City Clerk at City Hall, 230 West Hickman Road, Waukee, Iowa 50263 (facsimile number: 515-987-1845) or the City's Municipal Advisor, PFM Financial Advisors LLC, Des Moines, Iowa (facsimile number: 515-243-6994). Electronic facsimile bids will be treated as sealed bids. Consideration of Bids: After the time for receipt of bids has passed, the close of sealed bids will be announced. Sealed bids will then be publicly opened and announced. Finally, electronic internet bids will be accessed and announced. Sale and Award: The sale and award of the Bonds will be held at the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa at a meeting of the City Council on the above date at 5:30 P.M. Official Statement: The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The Official Statement may be obtained by request addressed to the Finance Director, City Hall, 230 West Hickman Road, Waukee, Iowa 50263; Telephone: 515-987-7919 or the Issuer's Municipal Advisor, PFM Financial Advisors LLC, 801 Grand Avenue, Suite 3300, Des Moines, Iowa, 50309, Telephone: 515-243-2600. Terms of Offering: All bids shall be in conformity with and the sale shall be in accordance with the Terms of Offering as set forth in the Official Statement. Legal Opinion: The Bonds will be sold subject to the opinion of Ahlers & Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together with the printed Bonds without cost to the purchaser and all bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the Bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or marketing of the Bonds. Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public. By order of the City Council of the City of Waukee, State of Iowa. Rebecca D. Schuett City Clerk, City of Waukee, State of Iowa (End of Notice) PASSED AND APPROVED this 201" day of September, 2021. Mayor ATTEST: lY ' City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN Anna Bergman Pierce X R. Charles Bottenberg X Chris Crone X Larry R. Lyon X Ben Sinclair X