HomeMy WebLinkAbout2023-05-15 Resolution 2023-199_Bonds, GO Urban Renewal, Additional ActionRESOLUTION 2023-199
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $3,000,000 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 $3,000,000 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 and carrying out of urban renewal projects under the authority of Iowa
Code chapter 403, and the Urban Renewal Plans for the Towne Center Urban Renewal Area, as
amended, and the Waukee Consolidated Urban Renewal Area, as amended, including funding
incentive payments pursuant to a development agreement with Waukee Towne Center, LLC, 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 $3,000,000
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 15'h day of May, 2023.
Mayor
ATTEST: '' nn
V.�
City Clerk
RESULTS OF VOTE:
AVE
Anna Bergman Pierce
X
R. Charles Bottenberg
X
Chris Crone
Larry R. Lyon
X
Ben Sinclair
X
NAY ABSENT
FM
ABSTAIN