HomeMy WebLinkAbout2008-02-25-Resolutions 08-39_Bonds - GO Series 2008B - IssuanceRESOLUTION 08-39
RESOLUTION AUTHORIZING THE ISSUANCE OF
$1,275,000 GENERAL OBLIGATION BONDS,SERIES 2008B,
AND LEVYING A TAX FOR THE PAYMENT THEREOF
WHEREAS,the City of Waukee,State ofIowa ("Issuer"),is a municipal corporation,
organized and existing under the Constitution and laws of the State of Iowa,and is not affected
by any special legislation;and
WHEREAS,the Issuer 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 (the "Project"),and it is deemed necessary and advisable that General Obligation
Bonds,Series 2008B,in the amount of$$1,275,000 be issued;and
WHEREAS,pursuant to notice published as required by Sections 384.24 and 384.25 of
the Code ofIowa,as amended,this Council has held a public meeting and hearing upon the
proposal to institute proceedings for the issuance of the Bonds,and the Council is therefore now
authorized to proceed with the issuance thereof:
NOW,THEREFORE,IT IS RESOLVED BY THE CITY COUNCIL OF WAUKEE,
STATE OF IOWA:
Section 1.Authorization of the Issuance.General Obligation Bonds,Series 2008B,in
the amount of $1,275,000 shall be issued pursuant to the provisions ofIowa Code Sections
384.24 and 384.25 for the purposes covered by the hearing.
Section 2.Levy of Atmual Tax.For the purpose of providing funds to pay the principal
and interest as required under Chapter 76.2,there is levied for each future year the following
direct annual tax upon all the taxable property in Waukee,Iowa,to-wit:
AMOUNT
FISCAL YEAR (JULY 1 TO JUNE 30)
YEAR OF COLLECTION
$135,500 200812009
Principal and interest coming due at any time when the proceeds of the tax on hand are
insufficient to pay the amount due shall be promptly paid when due from current funds available
for that purpose and reimbursement must be made.
Section 3.Atnendment ofLevv of Annual Tax.Based upon the terms ofthe future sale
of the Bonds to be issued,this Council will file an amendment to this Resolution ("Amended
Resolution")with the County Auditor.
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Section 4.Filing.A certified copy of this Resolution shall be filed with the County
Auditor ofthe County of Dallas,State ofIowa,who is instructed in and for each of the years,to
levy,assess and collect the tax in the same manner as other taxes and,when collected,these
taxes shall be used only for the purpose of paying principal and interest on the Bonds.
PASSED AND APPROVED this 25th day of February,2008
Attest:
ROLL CALL VOTE
Donald L.Bailey,Jr.
Casey L.Harvey
C.Isaiah McGee
Darlene Stanton
Mike Watts
AYE
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ABSENT ABSTAINNAY
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X
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