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HomeMy WebLinkAbout1992-11-30-Special Minutes-179- Tne November30,1992WaukeeCity Council special meeting was called to order at 7:05 P.M. by MayorFloyd Rosenkranzwith Bob Barrett taking minutes. Roll call was taken and the following Councilmenwere present:DonBailey,Jr.,Ray Clark, Frank Duroy,Nick Gruber and Curtis Scott. Staff and guests present were Brian Redshaw,Steve Pierce and DanWhite.~,~j 'r"Issuance of $275MConstruction Warrants.CouncilmanDuroyintroduced the resolution entitled "Resolution No.235,a resolution relating to financing of certain proposed projects to be undertaken by the City and establishing compliancewith reimbursementbond regulations under the Internal RevenueCode",and movedthat said resolution be adopted;seconded by CouncilmanScott.After due consideration thereof by the Council,the Mayorput the question on the motion and the roll being called,the following namedCouncilmenvoted: Ayes:Bailey,Clark,Duroy,Gruber and Scott. Nayes:Nonerecorded Motion ca=ied 5 to O.Whereupon,the Mayordeclared the resolution duly adopted. as follows: RESOLUTIONNO.235 Resolution relating to financing of certain proposed projects to be under tekeri by the Cityeeand-establishing-.ccmpl.tancevwi.t.h reimbursementbond regulations under the Internal RevenueCode BEIT RESOLVEDbythe City Council (the "Council")of the City of Waukee,Iowa (the "City"),as follows: 1.Recitals. (a)The Internal RevenueService has issued Section 1.103-18 of the IncomeTax Regulations (the "Regulations")dealing with the issuance of bonds,all or a portion of the proceeds of which are to be used to reimburse the City for project expenditures madeby the City prior to the date of issuance. (b)The Regulations generally require that the City makea prior declaration of its official intent to reimburse itself for such prior expenditures out of the proceeds of a subsequently issued borrowing,that the borrowing ~oc=and the rej.mbursementallocation be madefrom the proceeds of such borrowingwithin one year of the paymentof the expenditure or,if longer, within one year of the date the project is placed in service,and that the expenditure be a capital expenditure. (c)The City desires to complywith requirements of the Regulations with respect to certain projects hereinafter identified. 2.Official Intent Declaration. (a)The City proposes to undertake the following projects described on Exhibit A attached hereto. (b)other than (i)expenditures to be paid or reimbursed from sources other than a borrowing or (ii)expenditures permitted to be reimbursed pursuant to the transition provision of Section 1.103-18(1)(2)of the Regulations or (iii) expenditures constituting preliminary expenditures as defined in Section 1.103- 18(i)(2)of the Regulations,no expenditures for the foregoing projects as identified on Exhibit A have heretofore been madeby the City and no expenditures will be madeby the City until after the date of this Resolution. (c)The City reasonably expects to reimburse the expenditures madefor costs of the designated projects out of the proceeds of debt (the "Bonds")to be incurred by the City after the date of paymentof all or a portion of the costs.All reimbursed expenditures shall be capital expenditures as defined in Section 1.150- l(h)of the Regulations. (d)This declaration is a declaration of official intent adopted pursuant to Section 1.103-18 of the Regulations. 3.Budgetary Matters.As of the date hereof,there are no City funds reserved,allocated on a long term basis or otherwise set aside (or reasonably expected to be reserved,allocated on a long term basis or otherwise set aside)to provide permanent financing for the expenditures related to the projects.other than pursuant to the issuance of the Bonds.This resolution.therefore,is determined to be consistent with the City's budgetary and financial circumstances as they exist or are reasonably foreseeable on the date hereof,all within the meaningand content of the Regulations. 4.Filing.This resolution shall be filed within 30 days of its adoption in -180- the publicly available official books and records of the City.This resolution shall be available for inspection at the office of the City Clerk at the City Hall (which is the main administrative office of the City)dur.i.nqnormaJ.business hours of the City on every business day until the date of issuance of the Bonds. 5.ReimbursementAllocations.The City's financial officer shall be responsible for making the "reimbursementallocations"described in the Regulations,being generally the transfer of the appropriate amountof proceeds of the Bonds to reimburse the source of temporary financing used by the City to makepaymentof the prior costs of the projects.Each allocation shall be evidenced by an entry on the official books and records of the City maintained for the Bonds,shall specifically identiy the actual prior expenditure being reimbursed or,in the case of reimbursementof a fund or account in accordance with Section 1.103-18,the fund or account from which the expenditure was paid,and shall be effective to relieve the proceeds of the Bonds from any restriction under the bond resolution or other relevant legal documentsfor the Bonds,and under any applicable state statute, which would apply to the unspent proceeds of the Bonds.- 6.Conflicting Resolutions.All resolutions or parts of resolution in conflict herewith be the same are hereby repealed,to the extent of such conflict. Passed and approved this 30th day of November,1992. MAYOR Floyd W.Rosenkranz ATTEST: Brian J.Redshaw City Clerk CouncilmanClark introduced the resolution entitled "Resolution No.236,a resolution providing for the issuance of wa=ants in connections with the construction of the Hickman RoadTrunk Sewer Project",and movedthat said resolution be adopted:seconded by CouncilmanBailey.After due consideration thereof by the Council,the Mayorput the question on the motion and the roll being called,the following namedCouncilmenvoted: Ayes:Bailey,Clark,Duray,Gruber and Scott. Nayes:Nonerecorded. Motion ca=ied 5 to O.Thereupon,the Mayordeclared the resolution duly adopted, as follows: - RESOLUTIONNO.236 Resolution providing for the issuance of warrants in connection with the construction of the HickmanTrunk Sewer Project WHEREAS,the City Council of the City of Waukee,Iowa (the "City"),has authority to issue warrants for the purpose of defraying costs in connection with the construction of the HickmanRoadTrunk Sewer Project (hereinafter referred to as the "Project");and WHEREAS,to pay for authorized costs of the Project,it is necessary to issue wa=ants in the aggregate principal amountof $275,000,pursuant to the provisions of Section 384.57 of the Codeof Iowa. NCW,THEREFORE,It is Resolved by the City Council of the City of Waukee, Iowa,as follows: Section 1.The City Clerk is authorized and directed to issue $275,000Warrants, a discount of $2,750 (the "Warrants"),as authorized by Section 384.57 of the Codeof Iowa,- to Ruan Securities Corporation,Des Moines,Iowa (the "Purchaser"),to be payable from such fund or funds of the City as are legally available for such purpose,including,but not limited to,to proceeds from the sale and issuance of General Obligation and/or Sewer RevenueBondsor Notes;the proceeds from governmental grants as maybe obtained by the City:the future Net Revenuesof the Municipal Sanitary Sewer Systemof the City:and/or special assessments levied against property benefitted by the Project.The Warrants shall be signed by the Mayorand attested by the City Clerk with the seal of the City affixed and delivered to the aforesaid Purchaser,shall be dated as of the date of their delivery to the Purchaser,shall mature on November1,1993,shall be in the denomination of $5,000 each,or any integral multiple thereof,and shall bear interest at the rate of 4.15%per annum,payable on May1,1993,and on November1,1993,except as the provisions hereinafter set forth with respect to redemption prior to maturity maybe or becone applicable hereto. -181- Section 2.The Wa=ants shall be in substantially the form as attached to this resolution and shall be payable as to principal and interest in accordance with the terms set forth therein. Section 3.The City shall maintain as confidential the record of identity of owners of the Wa=ants,as provided by Section 22.7 of the Codeof Iowa. Section 4.The City Clerk is hereby designated as the Registrar and Paying Agent with respect to the Wa=ants. Section 5.The City reserves the right to repay the Wa=ants in whole or in part on any date prior to maturity upon terms of par and accrued interest.The Warrants maybe called in part in one or more units of $5,000.If less than the entire principal amount of any Wa=ant in a denomination of more than $5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof,upon surrender of such original Warrant, a newWarrant or Warrants,in any authorized denomination,in a total aggregate principal amountequal to the unredeemedbalance of the original Warrant.Notice of such redemption as aforesaid identifying the Warrant or Warrants (or portion thereof)to be redeemedshall be mailed by certified mail to be registered owners thereof at the addresses shownon the City's registration books not less than 10 days prior to such redemption date.All of such Wa=ants as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. Section 6.It is the intention of the City that interest on the Warrants be and remain excluded from gross income for federal income tax purposes pursuant to the appropriate provisions of the Internal RevenueCodeof 1986,as amended,and the Treasury Regulations in effect with respect thereto (all of the foregoing herein referred to as.the "Internal RevenueCode").In furtherance thereof,the City covenants to complywith the provisions of the Internal RevenueCodeas they may from time to time be in effect or amendedand further covenants to complywith applicable future laws,regulations,published rulings and court decisions as maybe necessary to insure that the interest on the.Wa=ants will remain excluded from gross income for federal income tax purposes.Anyand all of the officers of the City are hereby authorized and directed to take any and all actions as may be necessary to complywith the covenants herein contained. The Wa=ants are hereby designated as "Qualified Tax ExemptObligations"as that term is used in Section 265(b)(3)(B)of the Internal RevenueCode. Section 7.All resolutions or orders or parts thereof in conflict herewith be and the same are hereby repealed,to the extent of such conflict. Passed and approved November30,1992. Floyd W.Rosenkranz MAYOR ATTEST: Brian J.Redshaw City Clerk Pay Estimate No.1 -(M Contracting.Motionby CouncilmanDuroy and seconded by Councilman Clark to approve paying pay estimate #1 in the amountof $51,146.42 to GMContracting,Inc. for work completed on the HickmanRoadTrunk Sewer Project.After due consideration by the Council,the Mayorput the question on the motion and the roll being called,the following namedCouncilmenvoted: Ayes:Bailey,Clark,Duroy,Gruber and Scott Nayes:Nonerecorded Motion ca=ied 5 to O. Steve Pierce asked the Council to consider a supplemental contract for the finishing work on the HickmanRoadTrunk Sewer Project to be complet·edin the Spring with GM Contracting furnishing a cash bond and to final out the project.Staff was directed to have the necessary paperwork completed for Council consideration at the December7th Council meeting.. Class C Liquor License -The Old Bank.Mbtion by CouncilmanGruber and seconded by CouncilmanDuroy to approve issuing a Class C liquor license to The Old Bank.Motion ca=ied 5 to O. Radiant Heating System.Bids for heating the newmaintenance building were received from Bell Brothers Heating &Air Conditioning and from Radiant Sales Corporation.After due consideration by the Council,a motion was madeby CouncilmanScott and seconded by CouncilmanBailey to accept the bid from Bell Brothers in the amountof $5,778.00 to heat -182- the new maintenance building.Motion carried 5 to o. Holiday Turkeys And HaII5.To enhance worker productivity and as a small token of the Council and City's appreciation of all City staff's dedicated work ethic,a motion was made by Councilman Gruber and seconded by Councilman Bailey to approve the purchase of turkeys or hams for all full-time City employees and part-time employees regularly scheduled to work 20 hours or more per week,cost not to exceed $20.00 per person. Motion carried 5 to o. City Office Hours 12/24 and 12/31.Motion by Councilman Gruber and seconded by Councilman Duroy to close city offices at noon on 12/24 and 12/31 in conformity with traditional business practices.Motion carried 5 to O. Tine Management Study.Brian explained a program offered thru Iowa State University Extension Service where all city departments and personnel usage is reviewed and recommendations for staffing are made to the Council to better plan future staffing needs at a cost of $500.00.Motion by Councilman Scott and seconded by Councilman Bailey to approve the ISU Extension Service personnel study at a cost of $500.00.Motion carried 5 to O. lldjounmecrt.There being no further business to consider,Councilman Gruber moved and Councilman Scott seconded to adjourn. Motion carried 5 to O.Meeting adjourned at 7:49 P.M. ATTEST: - The December 7,1992 Waukee City Council regular meeting was called to order at 7.08 P.M. by Mayor Floyd Rosenkranz with Bob Barrett present and taking minutes. Roll was taken and the following Councilmen were present:Don Bailey,Jr.,Ray Clark, Frank Duroy,Nick Gruber and Curtis Scott. Staff and guests present were:Brian Redshaw,Chuck Christianson,Dan White,Steve Pierce,_ Paul E.Huscher,Don Henson,Mark Gruber and Marilyn Rutz. Agenda Additions.None Approval of 11/16 and 11/30 Minutes.Motion by Councilman Duray and seconded by Councilman Scott to approve the minutes of November 16,1992 and November 30,1992 as presented. Motion carried 5 to O. Open Forum.Don Henson,Fire Chief,spoke to the Council to explore ideas to improve the fire station.Ideas discussed ranged from remodeling the existing station;demolishing the present building and building a larger station at the present site;purchasing a site and building a new station;or building a new station on land the City presently owns.The lot size of the present fire station site does not make the first two options feasible;attention will be directed to exploring the last two options. Bill Presentation.Motion by Councilman Duroy and seconded by Councilman Clark to approve payment of claims submitted totaling $47,598.40.Motion carried 5 to O. Vendor ARATEX SERVICES ASPLUNDH TREE EXPERT ATLANTIC BOTTLING BAER AG. BANKERS LEASING ROBERT BARRETT BEN FRANKLIN BINGS OFFICE SUPPLY BLUE CROSS BRODERICK ANIMAL CLINIC BRCWN SUPPLY BUSINESS CCMMUNlCATIONS CLASSIC FLORAL COPY SYSTEMS DALLAS COUNTY NEWS DAWSON DEMCO OM ASPHALT DM WATERWORKS ELECTRONIC ENGINEERING Purpose POLICE MAT CLEANING ONE-CALL VENDING MACHINE SUPPLIES BOOTS COPIER PAYMENT EXPENSES SUPPLIES OFFICE SUPPLIES INSURANCE SERVICES SUPPLIES RADIO SERVICE SERVICES COPIER MAINTENANCE 11/92 PUBLICATIONS BOCKS OFFICE SUPPLIES ROAD MATERIAL WATER USAGE PAGERS,MONTHLY SERVICE Amount $45.00 104.33 133.20 76.00 57.61 17 .01 110.20 20.22 10,406.91 10.00 1,295.65 205.00 23.00 30.42 297.83 97.61 317.05 402.25 9,121.06 83.80 -