HomeMy WebLinkAbout2023-04-03 Resolution 2023-122_Bonds, GO GCP, Additional ActionRESOLUTION 2023-122
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $700,000 GENERAL OBLIGATION BONDS OR
CAPITAL LOAN NOTES (GCP)
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 $700,000 General Obligation Bonds or Capital Loan Notes, for the
general corporate purposes, in order to provide funds to pay the costs of constructing, improving,
equipping of city facilities, including a public safety building, 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 $700,000
General Obligation Bonds or Capital Loan Notes, for the foregoing general corporate 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.
Mayo - o Tem
ATTEST:
01 A Lltl(�
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
X