HomeMy Public PortalAboutResolutions-2012-36Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
RESOLUTION NO. 2012-36
Resolution to fix a date for public hearings on Loan Agreements
WHEREAS, the City of Tiffin (the "City "), in Johnson County, State of Iowa, pursuant
to the provisions of Section 384.24A of the Code of Iowa, proposes to enter into a loan
agreement (the "Essential Corporate Purpose Loan Agreement ") in a principal amount not to
exceed $6,300,000 for the essential corporate purposes of paying the costs, to that extent, of (1)
constructing street, water system, water tower, sanitary sewer and storm sewer improvements;
(2) effecting improvements to existing municipal parks; and (3) current refunding the City's
outstanding General Obligation Sewer Improvement Bond, SRF Series 1999A, dated September
30, 1999, General Obligation Sewer Improvement Bond, SRF Series 1999B, dated September
30, 1999 and the General Obligation Water Improvement Bonds, SRF Series 2003, dated
December 12, 2003, and it is necessary to fix a date of meeting of the City Council at which it is
proposed to take action to enter into the Essential Corporate Purpose Loan Agreement and to
give notice thereof as required by such law; and
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
also proposes to enter into a loan agreement (the "General Corporate Purpose Loan Agreement ")
in a principal amount not to exceed $225,000 for the general corporate purpose of paying the
cost, to that extent, of constructing improvements to City Hall and municipal parking lots, and in
lieu of calling an election thereon, the City desires to institute proceedings to enter into the
General Corporate Purpose Loan Agreement 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 of the Code of Iowa;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as
follows:
Section 1. The City Council shall meet on August 8, 2012, at the Springmier
Community Library at CCA Middle School, Tiffin, Iowa, at 6:30 o'clock p.m., at which time and
place hearings will be held and proceedings will be instituted and action taken to enter into the
Essential Corporate Purpose Loan Agreement and the General Corporate Purpose Loan
Agreement.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the Essential 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 and not
less than 4 nor more than 20 days before the date of said meeting, in a legal newspaper which has
a general circulation in the City. The notice shall be in substantially the following form:
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO
ENTER INTO A LOAN AGREEMENT AND BORROW MONEY IN A
PRINCIPAL AMOUNT NOT TO EXCEED $6,300,000
(GENERAL OBLIGATION)
The City Council of the City of Tiffin, Iowa, will meet on the 8th day of August, 2012, at
the Springmier Community Library at the CCA Middle School, in the City, at 6:30 p.m., for the
purpose of instituting proceedings and taking action to enter into a loan agreement (the "Loan
Agreement ") and borrow money in a principal amount not to exceed $6,300,000 for the purpose
of paying the cost, to that extent, of (1) constructing street, water system, water tower, sanitary
sewer and storm sewer improvements; (2) effecting improvements to existing municipal parks;
and (3) current refunding the City's outstanding General Obligation Sewer Improvement Bond,
SRF Series 1999A, General Obligation Sewer Improvement Bond, SRF Series 1999B and
General Obligation Water Improvement Bonds, SRF Series 2003.
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.
At the aforementioned time and place, oral or written objections may be filed or made to
the proposal to enter into the Loan Agreement. After receiving objections, the City may
determine to enter into the 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 Tiffin, Iowa.
Michon Jackson
City Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
Section 3. The City Clerk is hereby directed to give notice of the proposed action on
the General 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 and not
less than 10 nor more than 20 days before the date of said meeting, in a legal newspaper which
has a general circulation in the City. The notice shall be in substantially the following form:
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $225,000
(GENERAL OBLIGATION)
The City Council of the City of Tiffin, Iowa, will meet on August 8, 2012, at the
Springmier Community Library at CCA Middle School, Tiffin, Iowa, at 6:30 p.m., for the
purpose of instituting proceedings and taking action to enter into a loan agreement (the "Loan
Agreement ") in a principal amount not to exceed $225,000 for the purpose of paying the cost, to
that extent, of constructing improvements to City Hall and municipal parking lots.
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.
The maximum rate of interest which may be payable under the Loan Agreement is 8.0%
per annum.
At any time before the 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 registered voters of the City, pursuant to the provisions of
Section 384.26 of the Code of Iowa.
By order of the City Council of the City of Tiffin, Iowa.
Michon Jackson
City Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
Section 4. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved June 27, 2012
Steve Berner, Mayor
Attest:
� j'1. on, City Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part n) GO CP & Rfdg LA
STATE OF IOWA
COUNTY OF JOHNSON
CITY OF TIFFIN
SS:
I, the undersigned, City Clerk of the City of Tiffin, do hereby certify that attached hereto
is a true and correct copy of the proceedings of the City Council relating to fixing a date for a
hearings on the City Council's proposal to take action in connection with certain loan
agreements, as referred to therein.
WITNESS MY HAND this 8th day of August, 2012.
Micho
ackson
ity Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
STATE OF IOWA
COUNTY OF JOHNSON SS:
CITY OF TIFFIN
I, the undersigned City Clerk, do hereby certify that the City of Tiffin is organized and
operating under the provisions of Title IX of the Code of Iowa and not under any special charter
and that such City is operating under the Mayor - Council form of government and that there is
not pending or threatened any question or litigation whatsoever touching the incorporation of the
City, the inclusion of any territory within its limits or the incumbency in office of any of the
officials hereinafter named.
And I do further certify that the following named parties are officials of the City as
indicated:
Steve Berner Mayor
Michon Jackson , City Administrator /Clerk
Mike Ryan Council Member/Mayor Pro -Tem
Peggy Upton Council Member
Jim Bartels Council Member
Chris Ball Council Member
Travis Weipert , Council Member
WITNESS MY HAND this 8th day of August, 2012.
Michon J , City Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/ 436989 -NEW / Set Hrg (part rr) GO CP & Rfdg LA
(PLEASE NOTE: Do not date and return this certificate until you have received the
publisher's affidavit and have verified that the notice was published on the date indicated
in the affidavit but please return all other completed pages to us as soon as they are
available.)
STATE OF IOWA
COUNTY OF JOHNSON
CITY OF TIFFIN
SS:
I, the undersigned, City Clerk of the City of Tiffin, do hereby certify that pursuant to the
resolution of the City Council fixing a date of meeting at which it is proposed to take action to
enter into a loan agreement, the notice, of which the printed slip attached to the publisher's
affidavit hereto attached is a true and complete copy, was published on the date and in the
newspaper specified in such affidavit, which newspaper has a general circulation in the City.
WITNESS MY HAND this 25th day of July, 2012.
Micho ckson, City Administrator /Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA