HomeMy WebLinkAbout2023-05-15 Resolution 2023-198_Bonds, GO ECP, Additional ActionRESOLUTION 2023-198
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $5,500,000 GENERAL OBLIGATION BONDS OR
CAPITAL LOAN NOTES (ECP)
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 $5,500,000 General Obligation Bonds or Capital Loan Notes, for the
essential corporate purposes, in order to provide funds to pay the costs of 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 has considered the extent of objections received from
residents or property owners as to the proposed issuance of the Bonds or Capital Loan Notes; and
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 $5,500,000
General Obligation Bonds or Capital Loan Notes, for the foregoing essential 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 15`h day of May, 2023.
Mayor
ATTEST:
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City Clerk
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RESULTS OF VOTE:
AYE
Anna Bergman Pierce
X
R. Charles Bottenberg
X
Chris Crone
Larry R. Lyon
X
Ben Sinclair
X
NAY ABSENT
X
ABSTAIN