HomeMy Public PortalAboutResolutions-2019-086 RES011LUT101N NO. 2019-086
Resolution taking rulditional action to cndcr pato n Metal (MAgatimi (WqxwMe
PuMose Wan Agmmnent arxp aulh(vizing, the use of the updated prefill-linary
official stalerneint for the sale of Bonds
WHITEAS, it has becn pnqxmcd tha the Uty milcr into the Loan A,gr(.,cn,ient and the
Uty heretoibre Iroposed to enWr inh) as loan agmement (Be 'I man Agreernmit'j, pursuant to Hie
provisions of Section 38424A of the Code of Iowa, and U) borrow nimicy thervinider in a,
principa] arnount not to exceed $150QOM) Rw dr e IniqxNe of paying the cost, to that extent, of'
constructing streQ storin water dminagq sidewalk, saidtary sewer and waler system
improN,,enients and acquAing and installing street lighting, signalization and si�.piage, and
pmswmt U) law and a iiotice duly publisficd., he Uty WWI has held as pulAic heming on sw,-,I,i
paTond on Juo 2, 2M KL and
W'llF,R],.,AS, as 11rclinnnary Official Statement (the "JI.O.S.") lias been preparcd to
ftacifitate the sale of(knoul (AIQMkm Annual App-opdadon WqxrMe Puqmse BondN SeW
2019A (the "Bonds") irn cN/idence of the c1ligmion of the Uty Wet- the I= Agnmawnt, wici it
is now nec'essary, U) Me pawkion for the ayqinwal ofthe PXTS. and U) audodze As use by
NodWand SemixWeC Inv (to "UndamdUy"), as the Werwdtxx ofdw imumwe of Te Bon&;
TWOW4 '111FREIT)RE, Be U RcsoNcd by the Uty Cotnicil of the Uty orTIM; lowa, as
RTOWS:
Virtu etno n I Tjx� Cfly (�',MHICil hemby detenshws to enter into the Loan A�,.,jecrneift iu[
the future a,rid onlers that die Bonds be issuKA at such tinle., in cn/idellc'c, thea-(.roll 1"he City
Councit lbilher declares that this resolutimi c(nis6tutes the MEMO adknf' requked by
Smdoii .3a 1 24A or aw come or Mwa.
Section 2. The use by the Undcnivr% or the PD.S. reladrig to die Boruls irn
subatandally Te hnn as has been presctited to and conQued by the City (7ound! is hemby
apMavuL and the Underwrhor is luxeby Mhorized to prepme and usc,, a final Official Statenicint
Wr the Boriols SUbstantially in (lie [brin of' the PAIS. but "iter sucT charyges therein as cute
required to confiorm the saim.,, W the terms oi' the Botuls and the resohlion, when WNW,
providing for the sde and Rum= of din Bonds, and the City Administrator and/or City, Cka'k is
hereby authorized and dirc(ACd to (,�M.,%,UtC as final Official fftarternncnt for the Botids, ifrquested,
-rhe Ws. as or Hs date is deaned Onal by the Cly wNhin the meaning OfL]lc I 5(c)(2)-12 of'
the SeamAks and L,xchange Cornnaission,
Section 3. Further ac.tion with tespect to the Loan Agn.,,ernent and Bonds is
hemby aQoumed to the City (Anincil rneding seliciduled R)r Atqust 6, 2019,
Scction 4, All R.,�SO]UfiOIIS Of' I)MIS thereofn conniet hem"Th are hovby rqwWed to
the extent of,such conflic't.
Section 5. This resolution shall be in full farce and effect immediately upon its
adoption and approval, as provided by lacy.
Passed and approved .laxly 16, 2019.
I1�layor
.Attest:
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City Clerk
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