HomeMy WebLinkAbout2007-06-04-Resolutions 07-103_Bonds - Natural Gas Revenue Series 2007 - Direct SaleRESOLUTION NO.07-103
Resolution taking additional action to enter into a Loan Agreement and setting the
date for the sale of $5,675,000 Natural Gas Utility System Revenue Bonds,Series
2007
WHEREAS,pursuant to the provisions of Section 384.24A of the Code ofIowa,the City
of Waukee,in the County of Dallas,State of Iowa (the "City"),has heretofore proposed to
contract indebtedness and enter into a Natural Gas Utility System Revenue Loan Agreement (the
"Loan Agreement")in the principal amount of $5,675,000 for the purpose of paying the cost,to
that extent,of constructing improvements and extensions to the Municipal Natural Gas Utility
System of the City,and has published notice of the proposed action and has held a hearing
thereon;and
WHEREAS,the City deems it advisable and necessary at this time to provide for the sale
of Natural Gas Utility System Revenue Bonds,Series 2007 (the "Bonds"),in the amount of
$5,675,000 to be issued in evidence of the City's obligation under the Loan Agreement;
NOW,THEREFORE,It Is Resolved by the City Council of the City of Waukee,Iowa,as
follows:
Section 1.The City Council hereby determines that the City shall enter into the Loan
Agreement in the future and shall issue the Bonds in evidence of its obligation under the Loan
Agreement and hereby declares that this resolution constitutes the "additional action"required by
Section 384.24A of the Code ofIowa.
Section 2.The 18th day ofJune,2007,at 1:00 o'clock p.m.at the office of the City
Clerk,City Hall,Waukee,Iowa,is hereby fixed as the time and place for receiving and
canvassing bids for the purchase of the Bonds,and the City Council shall meet on said date at
7:00 o'clock p.m.at the City Hall,Waukee,Iowa,for the purpose of considering such bids
received and passing a resolution providing for the sale and issuance of the Bonds.
Section 3.Pursuant to Section 75.14 of the Code of Iowa,the City Council here~
authorizes the use of electronic bidding procedures for the sale of the Bonds through PARITY ,
and hereby finds and determines that the P ARITY®competitive bidding system will provide
reasonable security and maintain the integrity of the competitive bidding process and will
facilitate the delivery of bids by interested parties under the circumstances of this bond sale.
Section 4.All resolutions and orders or parts thereof in conflict with the provisions
of this resolution,to the extent of such conflict,are hereby repealed.
Section 5.This resolution shall be in full force and effect immediately upon its
adoption and approval,as provided by law.
Passed and approved June 4,2007.
CiiJ
ROLL CALL VOTE AYE NAY ABSENT
Donald L.Bailey,Jr.X
Isaiah McGee X
Jeff Mertz X
Darlene Stanton X
Mike Watts X