HomeMy Public PortalAbout2023-076 Resolution Taking Additional Action on Proposal to Enter Into a General Obligation Loan AgreementRESOLUTION 2023-076
Resolution Taking Additional Action on Proposal to Enter
Into a General Obligation Loan Agreement
WHEREAS, the City of Riverdale (the "City"), in Scott County, State of Iowa heretofore proposed to enter
into a loan agreement (the "Loan Agreement"), pursuant to the provisions of Section 384.24A of the Code
of Iowa, and to borrow money thereunder in a principal amount not to exceed $215,000 for the purpose
of paying the costs, to that extent, of constructing sanitary sewer and storm water drainage
improvements, and pursuant to law and a notice duly published, the City Council has held a public
hearing on such proposal on August 22, 2023.
NOW, THEREFORE, it is resolved by the City Council of the City of Riverdale, Iowa, as follows:
Section 1.
The City Council hereby determines to enter into the Loan Agreement in the future and
orders that General Obligation bonds or notes be issued at such time, in evidence thereof.
The City Council further declares that this resolution constitutes the "additional action"
required by Section 384.24A of the Code of Iowa.
Section 2. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent
of such conflict.
Section 3. This resolution shall be in full force and effect immediately upon its adoption and
approval, as provided by law.
Passed and approved this 22nd day of August 2023.
APPROVED: ATTEST:
Anthony Heddlesten, Mayor
(e/t
V -fat
Kelly Krell, filer
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511 1 www.riverdaleia.org