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HomeMy WebLinkAbout2023-03-20 Resolution 2023-109_Set Public Hearing Date, Bonds, GO Urban RenewalRESOLUTION 2023-109 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $35,000,000 GENERAL OBLIGATION URBAN RENEWAL BONDS OR CAPITAL LOAN NOTES OF THE CITY OF WAUKEE, STATE OF IOWA (FOR URBAN RENEWAL PURPOSES), AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, by Resolution No. 19-402, adopted November 4, 2019, the City approved and adopted Amendment No. 1 to the Waukee Consolidated Urban Renewal Plan (the "Plan" or "Urban Renewal Plan"), which unified the existing Gateway Economic Development Urban Renewal Area, Waukee West Urban Renewal Area, and Waukee Central Urban Renewal Area into the Waukee Consolidated Urban Renewal Area (the "Area" or "Urban Renewal Area") described therein, which Plan has been subsequently amended in January 2020 (2), July 2020 (3), November 2020 (4), November 2021 (5), which amendments added additional property to the Area and updated the list of projects and cost estimates for the City's urban renewal projects: and WHEREAS, by Resolution No. 2022-475, adopted on November 21, 2022, this Council found and determined that certain areas located within the City are eligible and should be designated as an urban renewal area under law, and approved and adopted Amendment No. 6 to the Plan, which is on file in the office of the Recorder of Dallas County; and WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa, should issue General Obligation Urban Renewal Bonds or Capital Loan Notes, to the amount of not to exceed $35,000,000, as authorized by Chapters 384 and 403, of the Code of Iowa, for the purpose ofproviding funds to pay costs of carrying out urban renewal purpose project(s) as hereinafter described; and WHEREAS, the Bonds or Capital Loan Notes shall be payable from the Debt Service Fund; and WHEREAS, before bonds or notes 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 or notes 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 Yd day of April, 2023, for the purpose of taking action on the matter of the issuance of not to exceed $35,000,000 General Obligation Urban Renewal Bonds or Capital Loan Notes, for urban renewal purposes, the proceeds of which bonds or notes will be used to provide funds to pay the costs of aiding in the planning, undertaking or carrying out of urban renewal projects under the authority of Iowa Code chapter 403, and the Urban Renewal Plan, as amended, for the Waukee Consolidated Urban Renewal Area, including the construction, improvement, and equipping of a public safety facility, including fire and police services necessary to protect and serve the commercial and industrial development within the urban renewal area, with related utility and site improvements, and acquisition of real estate therefore. 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 Subchapter 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. The Clerk is authorized and directed to proceed on behalf of the City in preparing such sale information as may appear appropriate, to distribute the same on behalf of the City and this Council and otherwise to take all action necessary to permit the completion of an issuance on a basis favorable to the City and acceptable to the Council. Section 4. 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 proposed issuance. Section 5. The notice of the proposed action to issue shall be in substantially the following form: (To be published on: March 21, 2023) 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 $35,000,000 GENERAL OBLIGATION URBAN RENEWAL BONDS OR CAPITAL LOAN NOTES OF THE CITY (FOR 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 3"' day of April, 2023, 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 $35,000,000 General Obligation Urban Renewal Bonds or Capital Loan Notes, for urban renewal purposes, to provide funds to pay the costs of aiding in the planning, undertaking or carrying out of urban renewal projects under the authority of Iowa Code chapter 403, and the Urban Renewal Plan, as amended, for the Waukee Consolidated Urban Renewal Area, including the construction, improvement, and equipping of a public safety facility, including fire and police services necessary to protect and serve the commercial and industrial development within the urban renewal area, with related utility and site improvements, and acquisition of real estate therefore. Principal and interest shall be payable from the Debt Service Fund. At any time before the date of the meeting, a petition, asking that the question of issuing such Bonds or Notes be submitted to the legal voters of the City, may be filed with the Clerk of the City in the manner provided by Section 362.4 of the Code of Iowa.. pursuant to the provisions of Chapters 384 and 403 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 Notes or will abandon the proposal to issue said Bonds or Notes. 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 20`' day of March, 2023. Rebecca D. Schuett City Clerk, City of Waukee, State of Iowa (End of Notice) PASSED AND APPROVED this 201" day of March, 2023. ATTEST: �b kt44 l% i City Clerk RESULTS OF VOTE: AYE Anna Bergman Pierce X R. Charles Bottenberg Chris Crone X Larry R. Lyon X Ben Sinclair X Mayor NAY ABSENT ABSTAIN