HomeMy WebLinkAbout2001-04-02-Resolutions 01-47_Bonds - GO Corp Purpose - Additional ActionRESOLUTION 01-47
TAKING ADDITIONAL ACTION TO ENTER INTO A CITY HALL LOAN
AGREEMENT,SETTING A DATE FOR HEARING ON A CORPORATE
PURPOSE LOAN AGREEMENT AND AUTHORIZING THE SALE OF
GENERAL OBLIGATION CORPORATE BONDS
WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa,the City
of Waukee,in the County of Dallas,State of Iowa (hereinafter referred to as the "City"),
has heretofore proposed to contract indebtedness and enter into a loan agreement in the
principal amount of $700,000 for the purpose of paying the cost,to that extent,of the
acquisition of an office building for use as a city hall (the "City Hall Loan Agreement")
and,in lieu of calling an election upon the question of entering into the City Hall Loan
Agreement,has published notice of the proposed action and has held a hearing thereon,
and no petition has been filed with the City Clerk asking that the question of entering into
the City Hall Loan Agreement be submitted to the qualified electors of the City;and
WHEREAS,the City hereby proposes to enter into a loan agreement (the "Corporate
Purpose Loan Agreement")in the principal amount of $250,000 pursuant to the
provisions of Section 384.24A of the Code of Iowa for the purpose of paying the cost,to
that extent,of the acquisition,construction,improvement and installation of street
lighting fixtures,connections,and facilities;and the acquisition and installation of an
emergency warning siren,and it is necessary to fix a date of meeting of the Council at
which it is proposed to take action to enter into the Corporate Purpose Loan Agreement
and to give notice thereof as required by such law;and
WHEREAS,pursuant to Section 384.28 of the Code of Iowa,the City Council may
combine any number of general or essential corporate purposes and issue a single issue of
bonds;and
WHEREAS,the City deems it advisable and necessary at this time to combine the City
Hall Loan Agreement and Corporate Purpose Loan Agreement and provide for the sale of
General Obligation Corporate Purpose Bonds (the "Bonds")in the principal amount of
$950,000 to be issued in evidence of the City's obligation thereunder;
NOW,THEREFORE,It Is Resolved by the City Council of the City of Waukee,Iowa,
as follows:
Section 1.The Council hereby determines that it may enter into the City Hall
Loan Agreement and declares that this resolution constitutes the "additional action"
required by Section 384.24A of the Code of Iowa.
Section 2.This Council shall meet on the 16th day of April,2001,at the Council
Chambers,City Hall,Waukee,Iowa,at 7:00 o'clock p.m.,at which time and place a
hearing will be held and proceedings will be instituted and action taken to enter into the
Corporate Purpose Loan Agreement.
Section 3.The City Clerk is hereby directed to give notice of the proposed action
on the Corporate Purpose 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 4 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 AGREEMETN AND BORROW MONEY IN THE PRINCIPAL
AMOUNT OF $250,000
(GENERAL OBLICATION)
The City Council of the City of Waukee,Iowa,will meet on the 16th day of April,
2001,at the Council Chambers,City Hall,Waukee,Iowa,at 7:00 o'clock p.m.,for the
purpose of instituting proceedings and taking action to enter into a loan agreement (the
"Corporate Purpose Loan Agreement")and borrow money in the principal amount of
$250,000 for the purpose of paying the cost,to the extent,of the acquisition,
construction,improvement and installation of street lighting fixtures,connections,and
facilities;and the acquisition and installation of an emergency warning siren.
The Corporate Purpose Loau 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.]
At the aforementioned time and place,oral or written objections may be filed or
made to the proposal to enter into the Essential Corporate Purpose Loan Agreement.
After receiving objections,the City may determine to enter into the Essential Corporate
Purpose Loan Agreement,in which case,the decision will be final unless appealed to the
District court within fifteen (15)days thereafter.
By order of the City Council of the City of Waukee,Iowa.
Mark J.Arentsen,City Administrator/Clerk
Section 4.It is also hereby determined to combine the City Hall Loan Agreement
and the Corporate Purpose Loan Agreement and enter into a single loan agreement
(hereinafter referred to as the "Loan Agreement")in the amount of $950,000 and to
authorize the Bonds for sale at this time.
Section 5.The 16'h day of April,2001,at 1:00 o'clock p.m.,at the City
Administrator's Office,City Hall,Waukee,Iowa,is hereby fixed as the time and place
for receiving and canvassing bids for the purchase of the Bonds,and this Council shall
meet on said date at 7;00 o'clock p.m.,at the Council Chambers,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 6.The City Administrator is authorized to take such action as shall be
deemed necessary and appropriate,with the assistance of Dorsey &Whitney LLP,
Attorneys,as Bond Counsel,and Public Financial Management,as Financial Consultants,
for the City,to prepare a statement of information and solicitation for bids describing the
Bonds and providing for the terms and conditions oftheir sale.
Section 7.All resolutions and orders or parts thereof in conflict with the
provisions of this resolution,to the extent of such conflict,are herby repealed.
Section 8.This resolution shall be in full force and effect immediately upon its
adoption and approval,as provided by law.
Passed and approved April 2,2001.
Attest:
Mark J.Arentsen,C y Administrator/Clerk
Section 9.All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved April 2,2001.
Attest:
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ROLLCALL AYES NAYS ABSENT
Nicholas Gruber
Marvin Berger
Mike Watts
Bill Peard
Wayne Johnson
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