ANKENY CITY COUNCIL

City Council Agenda

May 1, 2023
5 : 30 PM
Mark Holm, Mayor
Bobbi Bentz, Mayor Pro tem
Council Members: Jeff Perry, Joe Ruddy, Todd Shafer, Kelly Stearns
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
City Manager Exercise Financial Discipline
ACTION REQUESTED:
Resolution
LEGAL:
Item Reviewed by Legal Counsel
SUBJECT:
Proposed Issuance of Not to Exceed $3,248,000 Water Revenue Capital Loan Notes (PH 2023-34)
EXECUTIVE SUMMARY:
The not to exceed $3,248,000 Water Revenue Capital Loan Notes are being proposed to fund the design and construction of the South Ankeny Boulevard Transmission Main project in the 2023 Capital Improvement Program.
FISCAL IMPACT: Yes
The not to exceed $3,248,000 Water Revenue Capital Loan Notes will be payable from and secured by the net revenues of the Water Utility.
CITY MANAGER'S RECOMMENDATIONS:
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:

Action: Consider motion to adopt RESOLUTION instituting proceedings to take additional action for the authorization of a loan and disbursement agreement and the issuance of not to exceed $3,248,000 Water Revenue Capital Loan Notes.

Action: Consider motion to adopt RESOLUTION approving and authorizing a form of loan and disbursement agreement by and between the City of Ankeny and the Iowa Finance Authority, and authorizing and providing for the issuance and securing the payment of $3,248,000 Water Revenue Capital Loan Notes, Series 2023C, of the City of Ankeny, State of Iowa, under the provisions of the Code of Iowa, and providing for a method of payment of the notes; approval of tax exemption certificate.
ADDITIONAL INFORMATION:
ATTACHMENTS:
Click to download
Resolution
Resolution
Loan and Disbursement Agreement
Tax Exemption Certificate