HomeMy WebLinkAbout2001-03-19-Resolutions 01-28_Bonds - GO Loan Agr - Set PHRESOLUTION NO.01-28
TO FIX A DATE FOR A PUBLICH HEARING ON A LOAN AGREEMENT IN
THE PRINCIPAL AMOUNT OF $700,000
WHEREAS,the City of Waukee,in the County of Dallas,State of Iowa (the "City"),
proposes to enter into a loan agreement (the "Loan Agreement")in the principal amount
of $700,000 pursuant to the provisions of Section 384.24A of the Code of Iowa for the
general corporate purpose of paying the cost,to that extent,of acquisition of an office
building for use as a city hall,and the City,being a city having a population of more than
five thousand,desires to institute proceedings to enter into the Loan Agreement for such
general corporate purpose by causing a notice of such proposal to be published,including
notice of the right to petition for an election,under the provisions of Section
384.26(5)(a)(2)of the Code of Iowa;
NOW,THEREFORE,Be It Resolved by the City Council of the City of Waukee,Iowa,
as follows:
Section I.This council shall meet on the 2nd day of April,2001,at the City
Hall,in the City,at 7:00 o'clock PM,at which time and place a hearing will be held and
proceedings will be instituted and action taken to enter into the Loan Agreement.
Section 2.The City Clerk is hereby directed to give notice of the proposed
action on the Loan Agreement setting forth the amount and purpose thereof,the time
when and place where the said meeting will be held by publication at least once not less
than 10 and not more than 20 days before the meeting,in a legal newspaper which has a
general circulation in the City.The notice shall be in substantially the following form:
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER
INTO A LOAN AGREEMENT AND BORROW MONEY IN THE PRINCIPAL
AMOUNT OF $700,000
(GENERAL OBLICATION)
The City council of the City of Waukee,Iowa,will meet on the 2nd day of April,
2001,at the City Hall,in the City,at 7:00 o'clock p.m.,for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "Loan Agreement")and
borrow money in the principal amount of $700,000 for the purpose of paying the cost,to
that extent,of acquisition of an office building for use as a city hall.
The Loan Agreement is proposed to be entered into pursuant to authority
contained in Section 384.24A of the Code of Iowa and will constitute a general obligation
of the City.I
The maximum rate of interest which may be payable under the Loan Agreement
is 7%per annum.
At any time before the aforementioned date fixed for taking action to enter into
the Loan Agreement,a petition may be filed with the City Clerk of the City asking that
the question of entering into the Loan Agreement be submitted to the qualified electors of
the City,pursuant to the provisions of Section 384.26 of the Code ofIowa.
By order of the City council of the City of Waukee,Iowa.
Mark J.Arentsen,City Administrator/Clerk
Section 3.All resolution or parts of resolution in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved March 19,2001.
Donald L.Bailey,Mayor
Attest:
ROLLCALL AYES NAYS ABSENT
Nicholas Gruber
Marvin Berger
Mike Watts
Bill Peard
Wayne Johnson
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