ANKENY CITY COUNCIL

Regular Agenda

March 19, 2018
5 : 30 PM
Gary Lorenz, Mayor
Mark Holm, Mayor Pro tem
Council Members: Bobbi Bentz, Jim McKenna, Kelly Whiting, Kerry Walter-Ashby
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
City Manager High Performing City Organization: Financially Sound, Providing Service Value
ACTION REQUESTED:
Resolution
LEGAL:
Item Reviewed by Legal Counsel
SUBJECT:

Proposed Not to Exceed $6,125,000 General Obligation Bonds (for essential corporate purposes)

Initiate Proceedings
EXECUTIVE SUMMARY:
The not to exceed $6,125,000 General Obligation Bonds (for essential corporate purposes) are being proposed to fund the urban renewal projects in the 2018 Capital Improvement Program.  These projects include the SW Plaza Parkway and SW College Avenue Extension, SW Des Moines Street Trunk Sewer - SW Magazine Road to SW Elm Street, SW Des Moines Street - SW Prairie Trail Parkway to SW Magazine Road, The District at Prairie Trail - SW Market Street, SW Prairie Trail Parkway Sidewalk Improvements, SW State Street and SW Magazine Road Intersection Improvements, and SE Creekview Drive Drainage and Paving Improvements.
FISCAL IMPACT: Yes
CITY MANAGER'S RECOMMENDATIONS:
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):

A public hearing was held on February 19 for all other General Obligation Bond projects (essential and general corporate purposes) included in the 2018 Capital Improvement Program.  This hearing was required before the March 5 budget adoption in order for debt service payments to be included in the FY 2019 Budget.

A public hearing is being held on March 19 to approve Amendment No. 8 to the 1989 Ankeny Economic Development Area Urban Renewal Plan.  This hearing is required to update the project list as urban renewal projects must be specifically listed in the plan before bonds can be issued. 

PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:

Action: Consider motion to adopt RESOLUTION fixing date for a meeting on the proposition of the issuance of not to exceed $6,125,000 General Obligation Bonds of the City of Ankeny, State of Iowa (for essential corporate purposes), and providing for publication of notice thereof.  (date of hearing:  04/02/18 @ 5:30 p.m.)
ADDITIONAL INFORMATION:
ATTACHMENTS:
Click to download
Resolution