HomeMy WebLinkAbout2007-08-20-Resolutions 07-162_Bonds - GO Series 2007B - IssuanceRESOLUTION 07-162
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED$2,700,000 GENERAL OBLIGATION
BONDS,SERIES 2007B
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 issuance
of not to exceed $2,700,000 General Obligation Bonds,Series 2007B,for the essential
corporate purpose of paying costs of costs of improvements and extensions to the City
Sanitary Sewer Utility,including the South Fork and Walnut Ridge Sanitary Sewer
Improvements,and has considered the extent of objections received from residents or
property owners as to the proposed issuance of bonds;and,accordingly the following
action is now considered to be in the best interests of the City and residents thereof:
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WAUKEE,IOWA:
Section 1.That this Council does hereby institute proceedings and take additional
action for the sale and issuance in the manner required by law of not to exceed
$2,700,000 General Obligation Bonds,Series 2007B,for the foregoing essential
corporate purpose.
Section 2.That this Resolution be and does hereby serve as a declaration of
official intent under Treasury Regulation 1.150-2,because the City reasonably expects to
reimburse with the proceeds of the Bonds,all or a portion of original expenditures
incurred in connection with the above purpose.
Section 3.The Clerk is authorized and directed to proceed on behalf of the City
with the sale of Bonds,to select a date for the sale thereof,to cause to e prepared such
notice and sale information as may appear appropriate,to publish and distribute the same
on behalf of the City and this Council and otherwise to take all action necessary to permit
the sale of bonds on a basis favorable to the City and acceptable to the Council.
PASSED AND APPROVED this 20th day of August,2007.
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ATTEST:
ROLL CALL VOTE
Donald L.Bailey,Jr.
Isaiah McGee
Jeff Mertz
Darlene Stanton
Mike Watts
AYE
X
X
X
NAY ABSENT
X
X
j
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