HomeMy WebLinkAbout2023-04-03 Resolution 2023-121_Bonds, GO Urban Renewal, Additional ActionRESOLUTION 2023-121
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $35,000,000 GENERAL OBLIGATION URBAN
RENEWAL BONDS OR CAPITAL LOAN NOTES (UR)
WHEREAS, pursuant to notice published as required by law, the City Council has held a
public meeting and hearing upon the proposal to institute proceedings for the authorization of the
issuance of not to exceed $35,000,000 General Obligation Urban Renewal Bonds or Capital
Loan Notes, for the urban renewal purposes, in order 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, and has considered the extent of objections received from
residents or property owners as to the proposed issuance of Bonds or Capital Loan Notes; and no
petition was filed calling for a referendum thereon. The following action is now considered to be
in the best interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
Section 1. That this Council does hereby institute proceedings and take additional action
for the authorization and issuance in the manner required by law of not to exceed $35,000,000
General Obligation Urban Renewal Bonds or Capital Loan Notes, for the foregoing urban
renewal purposes.
Section 2. This Resolution shall serve as a declaration of official intent under Treasury
Regulation 1.150-2 and shall be maintained on file as a public record of such intent. It is
reasonably expected that the general fund moneys may be advanced from time to time for capital
expenditures which are to be paid from the proceeds of the above Bonds or Notes. The amounts
so advanced shall be reimbursed from the proceeds not later than eighteen months after the initial
payment of the capital expenditures or eighteen months after the property is placed in service.
Such advancements shall not exceed the amount authorized in this Resolution unless the same
are for preliminary expenditures or unless another declaration of intention is adopted.
PASSED AND APPROVED this 3`d day of April, 2023.
Maylrr Pro Tem
ATTEST:
4"" LV
City Clerk
RESULTS OF VOTE:
AYE
Anna Bergman Pierce
X
R. Charles Bottenberg
Chris Crone
X
Larry R. Lyon
X
Ben Sinclair
X
NAY ABSENT ABSTAIN
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