HomeMy WebLinkAbout2023-05-15 Resolution 2023-200_Bonds, Stormwater Revenue-Little Walnut Creek Regional Stormwater Wetlands, Additional ActionRESOLUTION 2023-200
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT TO
EXCEED $3,000,000 STORMWATER REVENUE BONDS
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 issuance of not to
exceed $3,000,000 Stormwater Revenue Bonds, in order to provide funds to pay the costs of
acquisition, construction, reconstruction, extending, remodeling, improving, repairing and
equipping all or part of the Stormwater Management Utility, including those costs associated
with the Little Walnut Creek Regional Stormwater Wetlands project, and has considered the
extent of objections received from residents or property owners as to the proposed issuance of
Bonds; and no petition was filed calling for a referendum thereon. Accordingly, 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 the issuance in the manner required by law of not to exceed $3,000,000
Stormwater Revenue Bonds, for the foregoing 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 stormwater fund moneys may be advanced from time to time for
capital expenditures which are to be paid from the proceeds of the above Bonds. The amounts so
advanced shall be reimbursed from the proceeds of the Bonds 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`" day of May, 2023.
Mayor
ATTEST:
G�pom c0.
City Clerk
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