HomeMy Public PortalAboutResolutions-2019-094 'I 4fin/43698925/Auth BPA GO CP LN
MINUTES FOR, M6113ING V)
AU]"HORIZE BOND PU R(,'I IASI
436989-25
URS, Iowa
.August 6, 2019
The (Ty WWI ofthc (Ty oFTHEn, Iowa, met on Aupud 6, 2019, at 7 cVckwk pAm, al
thC 11101 (Q' 1kd] COU1161 C'Immbers , 'Fiffin, Iowa.
Ile immIng was calk! to onkr by the Mayor,, and the roll was callcd showing the
I'oflowing members of We My WWI pmsmA and Am:
Preset-al: Upton, Havens, Bartels, Schric(fler
AMR Rymi
A11cr duc consideration and dimnamon (muricil N1(n'nbcr Haveris introduc-,cd ffic,
f6flowing rcsolutkn and nuived its adopdcm, saxmdul by Councd Memtm Schneler IS,
NQor put die quemkm t,jpon the adoptim of said resoMon, and dx; roH bdny; caHed, the
11611owing Councfl Mci'nbcrs vote(L
Ayes: I,Jpton, Baftels, Havens., Scfincdh°r
Nays: Nonc,
Whereupon, 16ae Mayor-Acclared the resoluliort duly adopted, as hercinal1cr set out.
DOR'SFY& WAHINI I;Y 1111ATTORP4FYS,DLS MUNI I �,ff)WA
'I�ffin/4369S')25/Auth BPA GO CT LA
RF','i'OLUTION NO, 2019-094
ResohAk)n approvinj.,
, Bond PUrcha,se.Afire mnent Or the sale (if IN& theretuidu
WHEREAS, it has bemi pnMoscd that the Uty Mer OR) the Loan Agreernent and the
Oly heivrofore Imaposal to enter Wo as lowi agremnent (Me 'Iman Qvonmu"I pumuant to th(.,,
provisions of Section 38124A of the CIde oF Ioiva, and to Wroxv intnicy thereunder in a
princ,ipal aniot.int not to exceed S1501000 fior the purpose (I paying tht; um[ to dud Men, of'
constructing street, storm water dmhwgq sidewalk, sanitary scivu and 1mater system
inqwovenwrits and acquiting and installing street lighling, AgnaUzation and Qvigu, vuld
Innivant N) la", and a rwdce WAY puNished, the C05' COLUICil has held as pUbhc hcaring on such
proposal on .1 tj[ly 2, 20l 9; and
VRIHREAS, as Prclindnary Official Statc.nient (the, "R.O,S.") has pecan prepared to
fia'Cifitate the sale of"Gcneral Obligation Corporate 11upose Honds, Sca-ics 200A (thc, "Bonds")
in evideins of the Wigivth)n of the Uty urxkr the LoanAgreeni= Emd the C WWI has
made, provision lb"he app-oval of the P.O.S, and haus aU1hOT'iZCd itS tisc by Nortfiland Sccajri tics,
hlc� (the "Underwitter"), as 11-1c t.1nderwriter cap than issmince ol'the 13onds; and
warp 1FREASpy a c(,n'tajn Bond Purchase Agreement (Te "Bond Pumlam; Agwenwnr) has
been prepued to set Ibi-th the tenns of the Bonds a1K1 INS Luiderstanding;between the Oty and the,
Undcnivrhcn, %vith rcspoct to the purchitse thcreof and it is noiv necesury to nuke pnwidwi W,
the apInuval orthe Bond I1tjr(,,,,hase Agreement and its exectition and dcfivcry;
NOW, 1111AUTORE, It Is ltesolvcxi by the Oty Nurwil oftlux City of UP11n, W", as
01OWS:
Section 1 . 'Ile CILY Unincil licn.,.by approvc,,s thc Bond Purc.ham., Agr(..,eincnit in
substantially thc�, florrn as has bc,(.n,i pnNeWed to Ific City Coun(.,°fl, The M,a.yor and thc City Clerk
'11-C -)Yr authorized U) cxemAc tN: Bond Pumhaw Agee enwnt on behOr or on! Ch y and to
d(.,Iivci-the sainc to the Under%x6tei%
Section 2. Ftn-ther action %vith rc.spcct to the mdhmizaticmi of die Wan Agrecinmit
and the
. issimncc or the Bonds is hemby aQourned to the City COLHICH iriecting sc-hedi.dal Or
AL]IgUst 20, 2019
Scctk)n 3. All rus(TANns anxi onkxs or pans thereof in conffict xith the provisions,
orthis rewAuti(m, to the extent of'such conflicL are 1wreby reywalml.
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DORS,&,j:, XWHUP"J''il [AY,A'JT0RJ1,,T,,YS, MOH,Q S,IOWA
Tiffin!430989-25,/Auth BPA GO CP LA
Section 4. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 6, 2019. —92— .......................
Mayor
Attest:
i
p '�.�^�+�City Clerk
At the conclusion of the meeting and upon motion and vote, the City Council adjourned.
4Mayor"
�. .........
Attest:
k h�
._......................
) Cit ..............
� Y Clerk
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DORSE3Y&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Tiffin 1!436989-25/Auth BPA GO CP LA
ATTESTATION CERTIFICATE
STATE OF IOWA
COUNTY OF JOHNSON SS:
CITY OF TIFFIN
1, 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 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 the City Council's approval of a bond purchase agreement,
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 j�;O 2019.
City Cle
-4-
DORSF.Y&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
E3 M R S E Y"
aNvays aheadl
July 3 1, 20 19
IQUI EAmaj
Doug Boldt
('-.',ity Hall
Uffhi, to wan
11 C: GencrW Oblipation Corporate Purpose Bonds, Serj(,"S 20 19A
Our File W. 436989-25
Mar [Wag:
We have pnrmvd and Mad) rnoce�cdhl� ? an
s rdaWd to thc aeflon to bc, ta.ken on the Lo
Agrecnient at the, August 6, 2019 (,,"ity, Councfl
'rhe precedOgs aItUWIUXI it'ICILKIC HIC 1`61101A/illg utel'YIS:
I. NAmms orbe nwetAW, Mwed by tbc rcsAakm pmviding R)r the arquwal ora.
l,')01'1(1 J)Urchas(,° agrccnicnt with Northland Securides, 111c,
1 Attcstafion C,crtificatc att(,.,SOng to the' vafidity oflhe transcdpt
Mea se take the fin'ic to rcvie.w the pnniosed Bond Purchm; Agremumt being rwovWcd by
AWAInd WOW, Inc. arKI writact to discuss as necded. Plcase, fiorward an (,,,xecuted copy
orthe con ti to ine fbr our Ides,
As these prom.,dings coniplctcd, please. 1-CU1111 oil fully cxceulcd (.',of)Y to our offi(.,"Ce
j r pu have any questions, pleasc contac.t. Cheryl Ritter or me,
Bcst reganis,
Min P. Dams
Attadinicilts
cc via mAl: Abigail I lora
jefTlicil
CpAhia"llbbitt
Diana VariVleet
SM rand Ave nue I Sui1n r,aioc)�U V',,Idnwj A nopqfm" IT Y5083 ima 1 FS,wB3w6o I domey mon