HomeMy WebLinkAbout2008-02-25-Resolutions 08-35_Bonds - GO CLN Taxable Series 2008A - AcceptRESOLUTION 08-35
RESOLUTION DIRECTING THE ACCEPTANCE OF A
PROPOSAL TO PURCHASE $290,000 GENERAL OBLIGATION
CAPITAL LOAN NOTES,TAXABLE SERIES 2008A
WHEREAS,the City of Waukee,Iowa,sometimes hereinafter referred to as the
City,is a municipal corporation duly incorporated,organized and existing under and by
virtue of the Constitution and laws of the State ofIowa;and
WHEREAS,it is deemed necessary that the City should enter into a Loan
Agreement and borrow the amount of $290,000 as authorized by Sections 384.24,
384.24A,384.25 and 384.26,Code ofIowa,as amended;and
WHEREAS,proposals have been requested and received from financial
institutions offering to enter into such Loan Agreement;and
WHEREAS,after a review of all the proposals received,it has been determined
that the best and most favorable proposal is that of First American Bank of Clive,Iowa;
and
WHEREAS,it is the intention of this City Council to enter into a Loan Agreement
in accordance with said proposal dated February 25,2008:
NOW,THEREFORE,BE IT RESOLVED BY TI-IB CITY COUNCIL OF THE
CITY OF WAUKEE,IOWA:
Section 1.That this City Council does hereby accept the attached proposal of
First American Barlie of Clive,Iowa,and takes additional action to permit the entering
into of a Loan Agreement.
Section 2.The Mayor and City Clerk are authorized and directed to proceed on
behalf of the City to enter into such Loan Agreement,to negotiate the final terms of a
Loan Agreement,to take all action necessary to permit the entering into of a Loan
Agreement on a basis favorable to the City and acceptable to the Purchaser,and to
proceed to meet the conditions of this accepted proposal.
PASSED AND APPROVED this 25th day of February,2008.
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ATTEST:
]
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Donald L.Bailey,JI.X
Casey L.Harvey X
C.Isaiah McGee X
Darlene Stanton X
Mike Watts X
]
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