HomeMy WebLinkAbout2008-02-25-Resolutions 08-34_Bonds - GO CLN Taxable Series 2008A - IssuanceRESOLUTION 08-34
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE AUTHORlZATION OF
A LOAN AGREEMENT AND THE ISSUANCE OF NOT
TO EXCEED $300,000 GENERAL OBLIGATION
CAPITAL LOAN NOTES,TAXABLE SERIES 2008A
WHEREAS,pursuant to notice published as required by law,this Council has held
a public meeting and hearing upon the proposal to institute proceedings 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,
for the purpose of paying costs of acquisition of real estate for park land,and no petition
was filed calling for a referendum thereon.The following action is now considered to be
in the best interests of the City and residents thereof:
NOW,THEREFORE,BE IT RESOLVED BY TI-IE CITY COUNCIL OF THE
CITY OF WAUKEE,IOWA:
Section 1.That this Council does hereby institute proceedings and take additional
action for the authorization of a Loan Agreement and issuance in the manner required by
law of not to exceed $300,000 General Obligation Capital Loan Notes,Taxable Series
2008A,to evidence the obligation thereof for the foregoing general corporate purpose.
Section 2.This Resolution shall serve as a declaration of official intent under
Treasury Regulation 1.150-2 and shall be maintained on file as a public record of such
intent.It is reasonably expected that fund moneys may be advanced from time to time
for capital expenditures which are to be paid from the proceeds of the above loan
agreement.The amounts so advanced shall be reimbursed from the proceeds of the Loan
Agreement not later than eighteen months after the initial payment of the capital
expenditures or eighteen months after the properly is placed in service.Such
advancements shall not exceed the loan amount authorized in this Resolution unless the
same are for preliminary expenditures or unless another declaration of intention is
adopted.
PASSED AND APPROVED this 25th day of February,2008.
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Attest:I
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
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