HomeMy WebLinkAbout2008-02-25-Resolutions 08-40_Bonds - GO Series 2008B - Direct SaleRESOLUTION 08-40
RESOLUTION DIRECTING THE ADVERTISEMENT
FOR SALE OF $1,275,000 GENERAL OBLIGATION
BONDS,SERIES 2008B
WHEREAS,the City of Waukee,Iowa,is in need of funds to pay costs of
improvements and extensions to the City Sanitary Sewer Utility including the South Fork
and Walnut Ridge Sanitary Sewer Improvements,an essential corporate purpose project,
and it is deemed necessary and advisable that the City issue general obligation bonds for
such purpose to the amount of$1,275,000 as authorized by Section 384.25 of the City
Code of Iowa;and
WHEREAS,pursuant to notice published as required by Section 384.25 this
Council has held a public meeting and hearing on August 20,2007,upon the proposal to
institute proceedings for the issuance of not to exceed $2,700,000 general obligation
bonds,and all objections,if any,to such Council action made by any resident or property
owner of the City were received and considered by the Council;and it is the decision of
the Council that additional action be taken for the issuance of$1,275,000 general
obligation bonds,and that such action is considered to be in the best interests of the City
and the residents thereof;
NOW,THEREFORE,BE IT RESOL VED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,IOWA:
Section 1.That the bonds hereinafter described be offered at public sale,pursuant
to advertisement as required by law.
Section 2.That the Clerk is hereby directed to publish notice of sale of the bonds
at least once,the last one of which shall be not less than four clear days nor more than
twenty days before the date of the sale.Publication shall be made in "The Dallas County
News",a legal newspaper,printed wholly in the English language,published within the
county in which the bonds are to be offered for sale or an adjacent county.The notice is
given pursuant to Chapter 75 of the Code ofIowa,and shall state that this Council,on the
10th day of March,2008,at 7:00 o'clock P.M.,will hold a meeting to receive and act
upon bids for the bonds.The notice to be in substantially the following form:
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NOTICE OF BOND SALE
Time and Place of Sealed Bids:Sealed bids for the sale of bonds of the City of
Waukee,Iowa,will be received at the office of the City Clerk,in the City of Waukee,
Iowa (the "Issuer")at 1:00 o'clock P.M.,on the 10th day of March,2008.The bids will
then be publicly opened and referred for action to the meeting of the City Council in
conformity with the TERMS OF OFFERING.
Sale and Award:The sale and award of the bonds will be held at the Council
Chambers,City Hall,230 Highway 6,Waukee,Iowa at a meeting of the City Council on
the above date at 7 :00 o'clock P.M.
The Bonds:The bonds to be offered are the following:
GENERAL OBLIGATION BONDS,SERIES 2008B,in the amount of
$1,275,000,to be dated April 8,2008 (the "Bonds").
Manner of Bidding:Open bids will not be received.Bids will be received in any of the
following methods:
•Sealed Bidding:Sealed bids may be submitted and will be received at the
office of the City Clerk,Waukee City Hall,230 Highway 6,Waukee,Iowa
50263.
]
•Electronic Facsimile Bidding:Electronic facsimile bids will be received at
the office of City Clerk,Waukee City Hall,230 Highway 6,Waukee,Iowa,
Facsimile No.515-987-1845 or at the office of the City's Financial
Consultant,Public Financial Management,Inc.,2600 Grand Avenue,Suite
214,Terrace Place,Des Moines,Iowa,Facsimile No.515-243-6994.
Electronic facsimile bids will be sealed and treated as sealed bids.
Consideration of Bids:After the time for receipt of bids has passed,the close of
sealed bids will be announced.Sealed bids will then be publicly opened and announced.
Official Statement:The Issuer has issued an Official Statement of information
pertaining to the Bonds to be offered,including a statement of the Terms of Offering and
an Official Bid Form,which is incorporated by reference as a part of this notice.The
Official Statement may be obtained by request addressed to the City Clerk,230 Highway
6,Waukee,Iowa 50263,Telephone No.515-987-4522;or the City's Financial 1
Consultant,Public Financial Management,Inc.,2600 Grand Avenue,Suite 214,Terrace
Place,Des Moines,Iowa 50312,Telephone:515-243-2660..
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Terms of Offering:All bids shall be in conformity with and the sale shall be in
accord with the Terms of Offering as set forth in the Official Statement.
Legal Opinion:The bonds will be sold subject to the opinion of Ahlers &Cooney,
P.C.,Attorneys of Des Moines,Iowa,as to the legality and their opinion will be furnished
together with the printed bonds without cost to the purchaser and all bids will be so
conditioned.Except to the extent necessary to issue their opinion as to the legality of the
bonds,the attorneys will not examine or review or express any opinion with respect to the
accuracy or completeness of documents,materials or statements made or furnished in
connection with the sale,issuance or marketing of the bonds.
Rights Reserved:The right is reserved to reject any or all bids,and to waive any
irregularities as deemed to be in the best interests ofthe public.
By order of the City Council ofthe City of Waukee,Iowa.
Jeffrey L.Kooistra
City Clerk of the City of Waukee,Iowa
(End of Notice)
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PASSED AND APPROVED this 25th day of February 2008.
Attest:
Ci ty i'-'~"1JNI
ROLL CALL VOTE
Donald L.Bailey,Jr.
Casey L.Harvey
C.Isaiah McGee
Darlene Stanton
Mike Watts
AYE
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NAY ABSENT
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X
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ABSTAIN
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