HomeMy WebLinkAbout2021-03-15-Resolution 2021-094_Official Intent to Issue Debt for ReimbursementTHE CITY OF WAUKEE, IOWA
RESOLUTION 2021-094
RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY
REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE CITY FOR
CERTAIN ORIGINAL EXPENDITURES PAID IN CONNECTION WITH
SPECIFIED PROJECTS
IN THE NAME AND BY THE A UTHORITY OF THE CITY OF WA UKEE, IOWA
WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas
County; AND,
WHEREAS, the City anticipates making cash expenditures for one or more capital
improvement projects, generally described and attached hereto as Exhibit A, and
hereinafter referred to as "Project'; AND,
WHEREAS, the City reasonably expects to issue debt to reimburse the costs of a
Project; AND,
WHEREAS, the Council believes it is consistent with the City's budgetary and financial
circumstances to issue this declaration of official intent.
NOW THEREFORE BE IT RESOLVED by the City of Council of the City of
Waukee, Iowa:
Section 1. That this Resolution be and does hereby serve as a declaration of official
intent under Treasury Regulation 1.150-2.
Section 2. That it is reasonably expected that capital expenditures will be made in
respect of the foregoing Project, from time to time and in such amounts as this Council
determines to be necessary or desirable under the circumstances then and there existing.
Section 3. That the City reasonably expects to reimburse all or a portion of the foregoing
expenditures with the proceeds of bonds, notes or other indebtedness to be issued or
incurred by the City in the future.
Section 4. That the total estimated costs of the Project, the maximum principal amount
of the bonds, notes or other indebtedness to be issued for the foregoing Project and the
estimated dates of completion of the Project are reasonably expected to be as follows:
See Exhibit A allached
*11 is intended to seek grants and other contributions to reduce the amount of borrowing
required for several of the attached projects. Ifsuch grants are not received it is
intended that the costs to be. financed mill be increased accordingly.
Section 5. That the City reasonably expects to reimburse the above —mentioned Project
costs not later than the later of eighteen months after the capital expenditures are paid or
eighteen months after the property is placed in service.
Section 6. That this Resolution be maintained by the City Clerk in an Official Intent File
maintained in the office of the Clerk and available at all times for public inspection,
subject to such revisions as may be necessary.
PASSED AND APPROVED this 151h day of March, 2021.
Attest:
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE
Anna Bergman X
R. Charles Bottenberg
Chris Crone X
Larry R. Lyon X
Ben Sinclair X
Courtney larke, Mayor
NAY ABSENT ABSTAIN
K1
Exhibit "A"
Reimbursement Resolution - March 15, 2021
Estimated
Resolution
#21-
Amount to
Estimated Date
Project Advancing Fund Project Cost
Borrow
of Completion
Stratford Crossing Park
Capital Project
$ 3,000,000
$ 3,000,000
Winter 2023
Vineyard Property - Phase I
Capital Project
$ 1,000,000
$ 1,000,000
Winter 2024
NW 2nd St / NW Sunrise Dr - Phase 116
Capital Project
$ 7,100,000
$ 7,100,000
Winter 2022
SE Ashworth Rd Corridor Improvements
Capital Project
$ 6,800,000
$ 6,800,000
Winter 2022
Warrior Ln Improvements - Phase I
Capital Project
$ 5,500,000
$ 5,500,000
Winter 2022
Ashworth Rd / Ute Ave Intersection Improvements
Capital Project
$ 6,800,000
$ 6,800,000
Winter 2022
NE Douglas Pkwy Extenstion
Capital Project
$ 2,000,000
$ 2,000,000
Winter 2022
Civic Campus Land Purchase
Capital Project
$ 2,600,000
$ 2,600,000
Fall 2022
NW 6th St Culvert
Capital Project
$ 800,000
$ 800,000
Winter 2022
NW Douglas Pwky Bridge
Capital Project
$ 3,000,000
$ 3,000,000
Spring 2023
NW 10th St / NW Douglas Pkwy Traffic Signal
Capital Project
$ 500,000
$ 500,000
Spring 2023
Univeristy Ave Extension - Warrior Ln to loth St
Capital Project
$ 18,000,000
$ 18,000,000
Winter 2024
Warrior Ln Improvements - Phase II
Capital Project
$ 7,000,000
$ 7,000,000
Winter 2024
T Ave Improvements
Capital Project
$ 21,000,000
$ 21,000,000
Winter 2024
Entrance Signs - 2022-2024
Capital Project
$ 450,000
$ 450,000
Annually
Developer Lane Additions - 2022-2024
Capital Project
$ 1,500,000
$ 1,500,000
Annually
Kettlestone Trail Development - 2022-2024
Capital Project
$ 300,000
$ 300,000
Annually
Kettlestone Street Light Reimbursement - 2022-2024
Capital Project
$ 300,000
$ 300,000
Annually
Little Walnut Creek North Trunk Sewer - Phase I
Sewer
$ 1,500,000
$ 1,500,000
Summer 2022
Little Walnut Creek North Trunk Sewer - Phase II
Sewer
$ 1,500,000
$ 1,500,000
Spring 2023
West Area Trunk Sewer - Phase II
Sewer
$ 3,000,000
$ 3,000,000
Spring 2024
Sunset Ridge West Sewer Extension
Sewer
$ 1,000,000
$ 1,000,000
Winter 2024
Lift Station #4 Rehabilitation
Sewer
$ 900,000
$ 900,000
Spring 2023
Lift Station #6 Rehabilitation
Sewer
$ 750,000
$ 750,000
Winter 2024
Elevated Water Storage Tank
Water
$ 7,000,000
$ 7,000,000
Winter 2024
ASR Well
Water
$ 4,000,000
$ 4,000,000
Winter 2024
Little Walnut Creek North Water Main Extension
Water
$ 500,000
$ 500,000
Winter 2021
Transite Water Main Replacement - Phase II
Water
$ 500,000
$ 500,000
Winter 2021
Transite Water Main Replacement - Phase III
Water
$ 500,000
$ 500,000
Winter 2023
NE Alice's Rd Transmission Main Relocation
Gas
$ 500,000
$ 500,000
Winter 2021
10" Gas Main Project
Gas
$ 2,000,000
$ 2,000,000
Spring 2023
6" Gas Main Project
Gas
$ 2,000,000
$ 2,000,000
Winter 2023