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Home My WebLink About2022-03-21 Resolution 2022-100_Official Intent to Issue Debt for ReimbursementTHE CITY OF WAUKEE, IOWA RESOLUTION 2022-100 RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR CERTAIN ORIGINAL EXPENDITURES PAID IN CONNECTION WITH SPECIFIED PROJECTS IN THE NAME AND BY THE A UITIORITY OF THE CITY OF WA UKEE, 10WA WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas County; AND, WHEREAS, the City anticipates making cash expenditures for one or more capital improvement projects, generally described and attached hereto as Exhibit A, and hereinafter referred to as "Project"; AND, WHEREAS, the City reasonably expects to issue debt to reimburse the costs of a Project; AND, WHEREAS, the Council believes it is consistent with the City's budgetary and financial circumstances to issue this declaration of official intent. NOW THEREFORE BE IT RESOLVED by the City of Council of the City of Waukee, Iowa: Section 1. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2. Section 2. That it is reasonably expected that capital expenditures will be made in respect of the foregoing Project, from time to time and in such amounts as this Council determines to be necessary or desirable under the circumstances then and there existing. Section 3. That the City reasonably expects to reimburse all or a portion of the foregoing expenditures with the proceeds of bonds, notes or other indebtedness to be issued or incurred by the City in the future. Section 4. That the total estimated costs of the Project, the maximum principal amount of the bonds, notes or other indebtedness to be issued for the foregoing Project and the estimated dates of completion of the Project are reasonably expected to be as follows: Sec' Exhibit A attached *It is intended to seek grants and other contributions to reduce the amount of borrovning required.for several of the attached l)rgjects. Ifsuch grants are not received it is intended that the costs to be financed mill he increased accordingly. Section 5. That the City reasonably expects to reimburse the above —mentioned Project costs not later than the later of eighteen months after the capital expenditures are paid or eighteen months after the property is placed in service. Section 6. That this Resolution be maintained by the City Clerk in an Official Intent File maintained in the office of the Clerk and available at all times for public inspection, subject to such revisions as may be necessary. PASSED AND APPROVED this 21St day of March, 2022. oot__C-- Courtney Clarke, Mayor Attest: Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY Anna Bergman Pierce X R. Charles Bottenberg Chris Crone X Larry R. Lyon Ben Sinclair X ABSENT ABSTAIN X X Exhibit "A" Reimbursement Resolution - March 21, 2022 Estimated Resolution #2022-100 Amount to Estimated Date Project Advancing Fund Project Cost Borrow of Completion Stratford Crossing Park Capital Project $ 3,000,000 $ 3,000,000 Winter 2024 Vineyard Property - Phase I Capital Project $ 1,000,000 $ 1,000,000 Winter 2024 Waukee Schools Trails Capital Project $ 450,000 $ 450,000 Winter 2024 Spring Crest Park Capital Project $ 4,000,000 $ 4,000,000 Winter 2025 Painted Woods West Park Capital Project $ 1,000,000 $ 1,000,000 Winter 2025 Prairie Rose Greenway Trail Capital Project $ 1,000,000 $ 1,000,000 Winter 2025 Kettlestone Greenway Trail - Phase III Capital Project $ 1,200,000 $ 1,200,000 Winter 2025 Public Safety Building & Equipment Capital Project $ 30,000,000 $ 30,000,000 Fall 2025 Traffic Signals - Hickman and Waco/Brick Capital Project $ 750,000 $ 750,000 Spring 2023 Traffic Signals - NW Douglas and NW 10th/N Warrior Capital Project $ 1,250,000 $ 1,250,000 Spring 2023 Traffic Signals - Grand Prairie and SE Tallgrass Capital Project $ 550,000 $ 550,000 Spring 2023 Traffic Signals - SE Ashworth and SE Parkview Dr Capital Project $ 500,000 $ 500,000 Winter 2023 NW Meredith Overlay Capital Project $ 1,500,000 $ 1,500,000 Winter 2023 Public Works Site Expansion Capital Project $ 6,500,000 $ 6,500,000 Winter 2023 Public Works 2nd Floor Finish Capital Project $ 600,000 $ 600,000 Winter 2022 NE Douglas Pkwy Extenstion Capital Project $ 2,200,000 $ 2,200,000 Winter 2024 NW 6th St Culvert Capital Project $ 800,000 $ 800,000 Winter 2022 Univeristy Ave Extension - Warrior Ln to 10th St Capital Project $ 48,000,000 $ 48,000,000 Winter 2025 Warrior Ln Improvements - Phase IIA Capital Project $ 3,300,000 $ 3,300,000 Winter 2025 T Ave Improvements Capital Project $ 21,500,000 $ 21,500,000 Winter 2025 Entrance Signs - 2023-2025 Capital Project $ 450,000 $ 450,000 Annually Developer Lane Additions - 2023-2025 Capital Project $ 1,500,000 $ 1,500,000 Annually Kettlestone Trail Development - 2023-2025 Capital Project $ 300,000 $ 300,000 Annually Kettlestone Street Light Reimbursement - 2023-2025 Capital Project $ 300,000 $ 300,000 Annually Little Walnut Creek North Trunk Sewer - Phase V Sewer $ 1,500,000 $ 1,500,000 Summer 2023 NE Outfall Sewer Sewer $ 10,300,000 $ 10,300,000 Spring 2024 West Area Trunk Sewer - Phase II Sewer $ 3,100,000 $ 3,100,000 Spring 2024 Sunset Ridge West Sewer Extension Sewer $ 1,000,000 $ 1,000,000 Winter 2024 Lift Station #2 Rehabilitation Sewer $ 2,100,000 $ 2,100,000 Summer 2023 Lift Station #4 Rehabilitation Sewer $ 600,000 $ 600,000 Winter 2025 Lift Station #6 Rehabilitation Sewer $ 700,000 $ 700,000 Winter 2025 Elevated Water Storage Tank Water $ 7,600,000 $ 7,600,000 Winter 2025 ASR Well Water $ 1,000,000 $ 1,000,000 Winter 2024 Transite Water Main Replacement - Phase III Water $ 800,000 $ 800,000 Winter 2023 Transite Water Main Replacement - Phase IV Water $ 800,000 $ 800,000 Winter 2024 10" Gas Main Project Gas $ 2,600,000 $ 2,600,000 Winter 2024 6" Gas Main Project Gas $ 2,000,000 $ 2,000,000 Winter 2025 NW Sunrise Culver Crossing Storm Water $ 450,000 $ 450,000 Winter 2023 Little Walnut Creek Storm Water Wetlands Storm Water $ 2,500,000 $ 2,500,000 Spring 2024 Sugar Creek Watershed Improvements - Phase I Storm Water $ 1,500,000 $ 1,500,000 Winter 2025