HomeMy WebLinkAbout2009-02-23-Resolutions 09-36_Bonds - GO CLN Series 2009A - Set PHRESOLUTION 09-36
RESOLUTION FIXING DATE FOR A MEETING ON THE
AUTHORIZATION OF A LOAN AGREEMENT AND THE
ISSUANCE OF NOT TO EXCEED $7,070,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES,SERIES 2009A,
OF THE CITY OF WAUKEE,STATE OF IOWA,AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF
WHEREAS,it is deemed necessary and advisable that the City of Waukee,State
ofIowa,should provide for the authorization of a Loan Agreement and the issuance of
General Obligation Capital Loan Notes,Series 2009A,to the amount of not to exceed
$7,070,000,as authorized by Sections 384.24,384.24A and 384.25,Code ofIowa,as
amended,for the purpose of providing funds to pay costs of canying out essential
corporate purposes proj ect as hereinafter described;and
WHEREAS,the Loan Agreement and Notes shall be payable from the Debt
Service Fund;and
WHEREAS,before a Loan Agreement may be authorized and General Obligation
Capital Loan Notes,Series 2009A,issued to evidence the obligation of the City
thereunder,it is neceSS31Yto comply with the provisions of the City Code of Iowa,as
amended,and to publish a notice of the proposal and of the time and place ofthe meeting
at which tile Council proposes to take action for the authorization of the Loan Agreement
and Notes and to receive oral and/or written objections from any resident or property
owner of tile City to such action;
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,STATE OF IOWA:
Section 1.That this Council meet in the Council Chambers,City Hall,230
Highway 6,Waukee,Iowa 50263,at seven o'clock P.M.,on the 9th day of March,2009,
for the purpose of taking action on the matter of the authorization of a Loan Agreement
and the issuance of not to exceed $7,070,000 General Obligation Capital Loan Notes,
Series 2009A,to evidence the obligations of the City thereunder for essential corporate
purposes of the City,the proceeds of which will be used to pay costs of sewer,water,and
storm sewer utility improvements;street and sidewalk improvements,including grading,
paving and site improvements;equipping tile street department;and refimding
outstanding indebtedness.
Section 2.To the extent any of the projects or activities described in this resolution
may be reasonably construed to be included in more than one classification under
Division III of the City Code of Iowa,the Council hereby elects the "essential corporate
purpose"classification and procedure with respect to each such project or activity,
pursuant to Section 384.28 of the City Code ofIowa.
Section 3.The Clerk is authorized and directed to proceed on behalf of the City
with the negotiation of terms of a Loan Agreement and the issuance of General
Obligation Capital Loan Notes,Series 2009A,evidencing the City's obligations to a
principal amount of not to exceed $7,070,000,to select a date for the fmal approval
thereof,to cause to be prepared such notice and sale information as may appear
appropriate,to publish or distribute the same on behalf 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 4.That the Clerk is hereby directed to cause at least one publication to be
made of a notice of the 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 four clear days nor more than twenty days before the date
of the public meeting on the issuance of the Notes.
Section 5.The notice ofthe proposed action shall be in substantially the following
f011n:
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF
WAUKEE,STATE OF IOWA,ON THE MATTER OF THE
PROPOSED AUTHORIZATION OF A LOAN AGREEMENT AND
THE ISSUANCE OF NOT TO EXCEED $7,070,000 GENERAL
OBLIGATION CAPITAL LOAN NOTES,SERIES 2009A,(FOR
ESSENTIAL CORPORATE PURPOSES)AND THE PUBLIC
HEARING ON THE AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the COIUlCilof the City of Waukee,State of
Iowa,will hold a public hearing on the 9th day of March,2009,at seven o'clock P.M.,in
the Council Chambers,City Hall,230 Highway 6,Waukee,Iowa 50263,at which
meeting the Council proposes to take additional action for the authorization of a Loan
Agreement and the issuance of not to exceed $7,070,000 General Obligation Capital
Loan Notes,Series 2009A,for essential corporate purposes of the City,in order to pay
costs of sewer,water,and storm sewer utility improvements;street and sidewalk
improvements,including grading,paving and site improvements;equipping the street
department;and refunding outstanding indebtedness.Principal and interest on the
proposed Loan Agreement will be payable from the Debt Service Fund.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of the City,to the above action.After all objections have been
received and considered,the Council will at this meeting or at any adjournment thereof,
take additional action for the authorization of a Loan Agreement and the issuance of
Notes to evidence the obligation of the City thereunder or will abandon the proposal.
This Notice is given by order of the COUlICilofthe City of Waukee,State ofIowa,
as provided by Sections 384.24,384.24A and 384.25 ofthe City Code ofIowa,as
amended.
Dated this 23rd day of February,2009.
Jeffrey L.Kooistra
City Clerk,City of Waukee,State ofIowa
(End of Notice)
PASSED AND APPROVED this 23rd day of February,2009.
ATTEST:
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Donald L.Bailey,Jr.X
Casey L.Harvey X
C.Isaiah McGee X
Darlene Stanton X
Mike Watts X