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HomeMy WebLinkAbout2008-02-04-Resolutions 08-24_Bonds - GO CLN Taxable Series 2008A - Set PHRESOLUTION 08-24 IRESOLUTIONFIXINGDATEFORAMEETINGONTHE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $300,000 GENERAL OBLIGATION CAPITAL LOAN NOTES,TAXABLE SERIES 2008A (FOR A GENERAL CORPORATE PURPOSE)OF WAUKEE,IOWA,AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS,it is deemed necessary and advisable that the City of Waukee,Iowa, should provide for the authorization of a Loan Agreement and the issuance of General Obligation Capital Loan Notes,Taxable Series 2008A,to the amount of not to exceed $300,000,as authorized by Sections 384.24,384.24A,384.25 and 384.26,Code ofIowa, as amended,for the purpose of providing funds to pay costs of carrying out a general corporate purpose project as hereinafter described;and WHEREAS,the Loan Agreement and Notes shall be payable from the Debt Service Fund;and WHEREAS,the City has a population of more than 5,000,but not more than 75,000,and the amount of the proposed note issue is not more than $700,000.00;and ] WHEREAS,before a Loan Agreement may be authorized and General Obligation Capital Loan Notes issued to evidence the obligation of the City thereunder,it is necessary to comply with the provisions of the City Code ofIowa,as amended,and to publish a notice of the proposal and of the time and place of the meeting at which the Council proposes to take action for the authorization of the Loan Agreement and Notes and the right to petition for an election; NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUI<EE,IOWA: Section 1.That this Council meet in the City Hall,230 Highway 6,Waukee, Iowa,at seven o'clock P.M.,on the 25th day of February,2008,for the purpose of taking action on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $300,000 General Obligation Capital Loan Notes,Taxable Series 2008A,the proceeds of which will be used to pay costs of acquisition of real estate for park land and shall bear interest at a rate not exceeding the maximum specified in the attached notice. Section 2.The Clerk is authorized and directed to proceed on behalf of the City I with the negotiation of terms of a Loan Agreement and the issuance of General . -1- Obligation Capital Loan Notes,Taxable Series 2008,evidencing the City's obligations to a principal amount of not to exceed $300,000,to select a date for the final approval thereof,to cause to be prepared such notice and sale information as may appear appropriate,to publish and distribute the same on bebalf of the City and this Council and otherwise to take all action necessary to permit the completion of a loan on a basis favorable to the City and acceptable to the Council. Section 3.That the Clerk is hereby directed to cause at least one publication to be made of a notice of meeting,in a legal newspaper,printed wholly in the English language,published at least once weekly,and having general circulation in the City.The publication to be not less than ten (10)clear days before the date of the public meeting on the issuance of the Notes. Section 4.The notice of the proposed action shall be in substantially the following form: -2- NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE,IOWA,ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $300,000 GENERAL OBLIGATION CAPITAL LOAN NOTES,TAXABLE SERIES 2008A (FOR A GENERAL CORPORATE PURPOSE)AND THE PUBLIC HEARING ON THE AUTHORIZATION AND ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the Council of the City of Waukee,Iowa, will hold a public hearing on the 25th day of February,2008,at seven o'clock P.M.,in the City Hall,230 Highway 6,Waukee,Iowa,at which meeting the Council proposes to take additional action for the authorization of a Loan Agreement and the issuance of not to exceed $300,000 General Obligation Capital Loan Notes,Taxable Series 2008A,for a general corporate purpose,bearing interest at the rate of not to exceed nine per centum (9%)per annum,in order to pay costs of acquisition of real estate for park land. Principal and interest on the proposed Loan Agreement shall be payable from the Debt Service Fund. At ally time before the date ofthe meeting,a petition asking that the question of J entering into a loan agreement and issuing such notes be submitted to the legal voters of the City,may be filed with the Clerk of the City in the manner provided by Section 362.4 of the City Code ofIowa pursuant to Section 384.26 of the City Code ofIowa. This Notice is given by order of the Council of Waukee,Iowa,as provided by Sections 384.24,384.24A,384.25 and 384.26 of the City Code ofIowa,as amended. Dated this 4th day of February,2008. Jeffrey L.Kooistra City Clerk of Waukee,Iowa (End of Notice) I -3- PASSED AND APPROVED this 4th day of February,2008. ATTEST: ROLL CALL VOTE Donald L.Bailey,II. Casey L.Harvey C.Isaiah McGee Darlene Stanton Mike Watts AYE X X X X X NAY ABSENT ABSTAIN -4-