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HomeMy Public PortalAboutResolutions-2017-014 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA MINUTES FOR HEARINGS ON LOAN AGREEMENTS AND TO AUTHORIZE PRELEVY 436989-19 Tiffin, Iowa March 7, 2017 The City Council of the City of Tiffin, Iowa, met on March 7, 2017, at 7:00 p.m., at the City Hall Council Chambers, Tiffin, Iowa. The meeting was called to order by the Mayor, and the roll being called, the following named Council Members were present and absent: Present: Havens, Ryan, Kahler, Upton, Bartels. Absent: None. This being the time and place specified for taking action on the proposal to enter into an Essential Purpose Loan Agreement in a principal amount not to exceed $5,100,000, the City Clerk announced that no written objections had been placed on file. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor closed the public hearing. This also being the time and place specified for taking action on the proposal to enter into a City Hall Loan Agreement in a principal amount not to exceed $150,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor closed the public hearing. After due consideration and discussion, Council Member Havens introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Ryan The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Council Members voted: Ayes: Havens, Ryan, Kahler, Upton, Bartels Nays: None. Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA RESOLUTION NO. 2017-014 Resolution authorizing and combining Loan Agreements, approving the future issuance of General Obligation Bonds and providing for the levy of taxes to pay the same the provisions of Section 384.24A of the Code of Iowa, heretofore proposed to enter into a loan agreement and to borrow money thereunder in a principal amount not to exceed $5,100,000 for the purpose of paying the costs, to that extent, of (1) constructing street, water system, sanitary sewer system, sidewalk, storm water drainage, park trails and improvements in existing municipal parks; (2) acquiring vehicles and equipment for the municipal public works department; and (3) acquiring and installing street lighting and signalization improvements, and has published notice of the proposed action and has held a hearing thereon on March 7, 2017; and and to borrow money thereunder in a principal amount not to exceed $150,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the costs, to that extent, of constructing, furnishing and equipping an addition and improvements to City Hall, and in lieu of calling an election upon such proposal, has published notice of the proposed action and has held a hearing thereon, and as of March 7, 2017, no petition had been filed with the City asking that the question of entering into the City Hall Loan Agreement be submitted to the registered voters of the City; and WHEREAS, the City intends to combine the Loan Agreements into a single loan issue General Obligation Corporate Purpose Bonds Bonds thereunder and anticipates that principal and interest will come due on the Bonds before July 1, 2018; and WHEREAS, it is now necessary to make provision for the levy of a debt service property tax in the 2017-2018 fiscal year for the payment of such principal and interest; NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. The City hereby combines the Loan Agreements into the Loan Agreement pursuant to Section 384.28 of the Code of Iowa. Section 2. The City Council hereby determines to enter into the Loan Agreement in the future and orders that the Bonds be issued at such time, in evidence thereof. The City Council further declares that this constitutes the of the Code of Iowa. -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA Section 3. For the purpose of providing for the levy and collection of a direct annual tax sufficient to pay the principal of and interest on the Bonds as the same become due, there is hereby ordered levied on all the taxable property in the City the following direct annual tax: For collection in the fiscal year beginning July 1, 2017, sufficient to produce the net annual sum of $185,618. Provided, however, that at the time the Bonds are issued, the actual tax levy amounts required to pay the principal of and interest on the Bonds in each year shall be determined based upon the interest rate or rates at which the Bonds are issued, and this resolution shall be supplemented by resolution of the City Council to provide for such actual and necessary tax levy amounts. Section 4. A certified copy of this resolution shall be filed with the County Auditor of Johnson County, and said Auditor is hereby instructed to enter for collection and assess the tax hereby authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the City and when collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Bonds hereby authorized and for no other purpose whatsoever. Section 5. All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 6. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved March 7, 2017. Mayor Attest: City Clerk -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA On motion and vote, the meeting adjourned. Mayor Attest: City Clerk -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA ATTESTATION CERTIFICATE: STATE OF IOWA COUNTY OF JOHNSON SS: CITY OF TIFFIN I, the undersigned, City Clerk of the City of Tiffin, do hereby certify that as such I have in my possession or have access to the complete corporate records of the City and of its City Council and officers and that I have carefully compared the transcript hereto attached with those corporate records and that the transcript hereto attached is a true, correct and complete copy of all the corporate records relating to authorizing Loan Agreements, combining Loan Agreements and providing for a debt service property tax levy for the payment of principal of and interest on General Obligation Corporate Purpose Bonds and that the transcript hereto attached contains a true, correct and complete statement of all the measures adopted and proceedings, acts and things had, done and performed up to the present time with respect thereto. WITNESS MY HAND this ______ day of _______________, 2017. City Clerk -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/ Hrg (Part rr), Combine and Prelevy GO CP LA COUNTY FILING CERTIFICATE: STATE OF IOWA SS: COUNTY OF JOHNSON I, the undersigned, County Auditor of Johnson County, in the State of Iowa, do hereby certify that on the ______ day of _________________, 2017, the City Clerk of the City of Tiffin filed in my office a certified copy of a resolution of such City shown to have been adopted by the Council on March 7, 2017Resolution authorizing and combining Loan Agreements, approving the future issuance of General Obligation Bonds and providing for the levy of taxes to pay the samethat I have duly placed the copy of the resolution on file in my records. I further certify that the taxes provided for in that resolution will in due time, manner and season be entered on the State and County tax lists of this County for collection in the fiscal year beginning July 1, 2017, as provided in the resolution. WITNESS MY HAND this ______ day of ________________, 2017. County Auditor -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB March 3, 2017 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: General Obligation Loan Agreements Our File No. 436989-19 Dear Doug: th We have prepared and attach proceedings to be used at the March 7 City Council meeting covering the hearings on the loan agreements and providing for the adoption of the resolution , taking additional action with respect to the General Obligation Corporate Purpose Bonds Bondsdebt service property tax levy for the fiscal year beginning on July 1, 2017 in the amount of $185,618 for the payment of debt service on the Bonds. If a petition is filed asking that the proposal to enter into the City Hall Loan Agreement be put to an election, please contact us right away. After it is adopted, a certified copy of the attached Resolution must be filed with the no later than March 31, 2017 Johnson County Auditor . Please print an extra copy of the Resolution for this purpose. When the City is ready to enter into the Loan Agreement, we will prepare proceedings to enable the City Council to supplement the Resolution to provide for the actual repayment structure, interest rate on the Bonds, and the additional tax levies and to make a supplemental filing with the County Auditor. The proceedings attached include the following items: th 1. Minutes of the March 7 City Council meeting covering the hearings and providing for the adoption of the Resolution. The Resolution combining loan agreements and authorizing the property tax levy follows the minutes. 2. Attestation Certificate with respect to the validity of the transcript. 3. County Filing Certificate of the Johnson County Auditor relating to the filing of a certified copy of the resolution in that office 4819-1441-9268\\2 DocuSign Envelope ID: 7E8AE5FC-A2BD-44CB-8DF1-F13EE7D77DAB Page 2 As these proceedings are completed, please return one fully executed copy to our office. If you have any questions, please contact Rebecca Donaldson or me. Best regards, John P. Danos Attachments cc: Ashley Jay Platz Jeff Heil Diana VanVleet 4819-1441-9268\\2 Certificate Of Completion Envelope Id: 7E8AE5FCA2BD44CB8DF1F13EE7D77DABStatus: Completed Subject: Please DocuSign: 2017-012 - Annual Budget FY 2017-2018 - for merge.docx, 2017-013 - Second Hal... Source Envelope: Document Pages: 25Signatures: 17Envelope Originator: Supplemental Document Pages: 0Initials: 0ASHLEY PLATZ Certificate Pages: 5 AutoNav: EnabledPayments: 0300 Railroad St EnvelopeId Stamping: EnabledPO Box 259 Time Zone: (UTC-08:00) Pacific Time (US & Tiffin, IA 52340 Canada)AJAY@TIFFIN-IOWA.ORG IP Address: 10.102.101.12 Record Tracking Status: OriginalHolder: ASHLEY PLATZLocation: DocuSign 3/9/2017 1:17:45 PM AJAY@TIFFIN-IOWA.ORG Signer EventsSignatureTimestamp Steve BernerSent: 3/9/2017 1:21:34 PM steven.lee.berner@gmail.comViewed: 3/9/2017 1:33:55 PM Security Level: Email, Account Authentication Signed: 3/9/2017 1:34:17 PM (None) Using IP Address: 199.120.90.9 Electronic Record and Signature Disclosure: Accepted: 3/9/2017 1:33:55 PM ID: 4b07dbf1-95a9-493b-ae9e-83257fda09ab Doug BoldtSent: 3/9/2017 1:34:18 PM dboldt@tiffin-iowa.orgViewed: 3/9/2017 1:51:19 PM Security Level: Email, Account Authentication Signed: 3/9/2017 1:51:46 PM (None) Using IP Address: 69.63.16.128 Electronic Record and Signature Disclosure: Accepted: 11/15/2016 7:19:16 AM ID: e71e6fed-796e-4f6c-b8a2-9a25882d8617 In Person Signer EventsSignatureTimestamp Editor Delivery EventsStatusTimestamp Agent Delivery EventsStatusTimestamp Intermediary Delivery EventsStatusTimestamp Certified Delivery EventsStatusTimestamp Carbon Copy EventsStatusTimestamp Notary EventsTimestamp Envelope Summary EventsStatusTimestamps Envelope SentHashed/Encrypted3/9/2017 1:34:18 PM Certified DeliveredSecurity Checked3/9/2017 1:51:19 PM Signing CompleteSecurity Checked3/9/2017 1:51:46 PM Envelope Summary EventsStatusTimestamps CompletedSecurity Checked3/9/2017 1:51:46 PM Payment EventsStatusTimestamps Electronic Record and Signature Disclosure CONSUMER DISCLOSURE From time to time, CITY OF TIFFIN, IOWA (we, us or Company) may be required by law to provide to you certain written notices or disclosures. 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