HomeMy Public PortalAboutResolutions-2019-083 Till-in 1436989-25°Set firg GO CP LA
MINUTES TO SET DATE FOR HEARING
ON PROPOSAL TO ENTER INTO A
LOAN AGREEMENT
436989-25
Tiffin, Iowa
June 18, 2019
The City Council of the City of Tiffin, Iowa, met on June 18, 2019, at 7o'clock p.m., at
the Tiffin City Hall Council Chambers in Tiffin, Iowa. The Mayor presided and the roll was
called showing the following members of the City Council present and absent:
Present: jjpj9nRyan Bartels, Havens, Schnedler
Absent: None.
Council Member Upton introduced the resolution hereinafter next set out and moved its
adoption, seconded by Council Member Havens; and after due consideration thereof by the City
Council, the Mayor put the question upon the adoption of the said resolution and the roll being
called, the following named Council Members voted:
Ayes: Upton, Bartels, Havens, Ryan_achnedler
............................
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out.
• • • •
At the conclusion of the meeting and upon motion and vote, the City Council adjourned.
Mayor
Attest:
City Clerk
DORSEY&WHITNEY LIT,A'r'rORNEYS,DES MOINES,IOWA
Tiffin/436989 2-5/Set 1 60 C P 1,A
RESOLUTION 'N0. 2019-083
Rmwhdkm soting the &A Par as public hearing on proposal H) enter into a
Gen.cral Obligation (Ag1wate 11rpme Loan Agreernent and to borrow moncy
dunvunder V a 1whidpal Hnu)unt M to exceed $4QO%000
VVI IER Mlt the (.',ity ol"Tiern (the "00"I hi Muson Cluny, sho or im, lmvposes
h) enUn, ink) a loan agremnent ahe "Wan Agmemeni"), Inirsuant to the pro0sions of
Section 84.244 of the Codc oflo=, and to txwn)w money thereinxier in as ptincipa] mnowit not
to exceed SQ0%000 Rw the pumose or payng the coMq yds Out extenn of constni.edrig street,
storm %vatcr drainaly, sideivalk, sanitary sewer' and water systcni hnpmvcmmAs and acWAdng
and Stodling street lij,?,hting, signalizaflorn and signage Ohe MOWs"I and it is now neccssary
to prix as date ofinecting dap the (,ity (,ouncil at wh1h it is proposed to take action to enter into the
Is unn Agvement and lo givt Mice MW as rquked by sudi law;
NOW, 1111MIDURE, Be It Resolved by HH: City WWI of the My of-HRI Iowa, as
Ii.)flows:
Section 1. "I'llis (.Jt'y ("ounlc'il shoal mect on July 2, 20]9, ,-it the Fifflin Cily lkafl
WWI Mambers , 111%, Iowa, at 7o'dock jimi, at which time and Iflacc: an hearing vvdl be hoold
Hjul proweedings wfll 1,)e iristitulcd and action taken to cnict, into the Mm Agreement described in
lfida prearnble hereof
S'cc,tion 2. Ilic (At (let k hmvby diwmd U) give notice of the rwoposed action on
thc-, Loan Agreement setting Wrth the unwunt and pury)sc thorcof., the firne wh.en and place
whmv the Wd imxUng "Al be held by/ pi.iblication at least once, not Icss than Sur (4) and not
Woodard., thmi monty (20) days bel'bre the datc, of said mccling, in as legal tic",spaper NvIlich has an.
gencral circulation in the Uty. 11te notice shaIl he in substantially the l'oflowing Ynt
2
MRSEY&,1-d1 O i"'EY TAJI,Al MRr'JFVSL')4,S 1\/1M',TS,It NYA
M-1 ION '11R) NSTITUT'El
11 N'YFR INTO A LOAN A(,I'IZI,11-,�M[�l�'I' ANI) 'I'(') BORROW NIONEN
'I'll F,R EUNE)FR IN A pipAPAL AMOLWYNOT "FO FINCITI) $4,500,000
(GENERAI, OBLIGATION)
ofthe C.ity of"Fiffin, powa (1he "City"), wffl ineet on July 2, 2019, at flu.,-,
Tiffix) City 11,111 Council Chambers, 'Fiffin, Iowa, at 7 o"clock p.m., [W t1W I'MI-POSC OfillStitUtilig
proccedings and tukiiig action on as 1:)roposal to enter into a loan a�,.P'eenwnt (the "Loan
Af..;ireement") and to bmmv money thereunder in as I'vincipal arnount not to excced $4,500,000
I'm', the purpose of paying the costs, to thal extent, ofconstmdil!p? -oproven-ients to flu., municipal
, in
waterworks system, constructing improvcrnents to the inunicipal sanitury sew(.,r systcm and
installing strcet, fighifing, sij,-..,,1na1iza.fion and signage.
The Loan Agreement is proposed to bo.,, emtei�ed into pursuiant to authority con[tained in
Section 384.24/A. ofthe: Code ofJoNva and will consfilutea general obligation ofthc C,ity,
At thal time and place, oral or NN-riftcn obJeclions niay be, filed or i,nade to the proposal to
cvter hito the, Loan Agrc(..,,n,a.(.,;nt, After receiving obJeCtiOlIS, the ('.''ity Mllwy� CICterrnine to eme
lr into
the Loan Agrecuu.,,nt, in which, (-.ase, the decision will bc, final unlcssappe.ale.d to the District
("ourt witNn 11lp usaa p IL.5) days thereallk.,,,r,
By m-dcx of,flu": ("ity ("OLIM'd ON11C ("itY OfTiffill, 10mft,
Ashlcy ,Iay Platz
City CAerk
�3
DOW:&Y h,,V,/fflTPJ1,,A I AJP,ATIONA"O"Y'i,DES J\4OU`J I�IS,J0\A/A
Tiffin,'436989-25 J Set Hrg GO CP LA
Section 3. Pursuant to Section 1.150-2 of the Income Tax Regulations (the
"Regulations") of the Internal Revenue Service, the City declares (a) that it intends to undertake
the Projects which is reasonably estimated to cost approximately $4,500,000, (b) that other than
(i) expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or
other obligations (the "Bonds"), or (ii) expenditures made not earlier than 60 days prior to the
date of this Resolution or a previous intent resolution of the City, or (iii) expenditures amounting
to the lesser of$100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting
preliminary expenditures as defined in Section 1.150-2(f)(2) of the Regulations, no expenditures
for such Projects have heretofore been made by the City and no expenditures will be made by the
City until after the date of this Resolution or a prior intent resolution of the City, and (c) that the
City reasonably expects to reimburse the expenditures made for costs of the City out of the
proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to
Section 1.150-2 of the Regulations.
Section 4. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved June 18, 2019.
/n-/ a
-Mayor -
Attest:
City Clerk
-4-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Tiffin/436989-25/Set Hrg 60 CP LA
ATTESTATION CERTIFICATE
STATE OF IOWA
JOHNSON COUNTY SS:
CITY OF TIFFIN
1, 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
additional action on the City's proposal to enter into a certain loan agreement, as referred to
therein.
WITNESS MY HAND this day of 12019.
City Clerk
-5-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Tiffin l 436989-25/Set Hrg GO CP LA
ORGANIZATION CERTIFICATE
STATE OF IOWA
JOHNSON COUNTY 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 the 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 ............mIT ._..., Mayor
120.ug Boldt City Administrator
Mike R !an_______________..__.............. Council Member/Mayor Pro Tem
Peggy Upton _ , Council Member
Al Havens , Council Member
Eric Schnedler Council Member
Jim Bartels , Council Member
WITNESS MY HAND this 191h day of June, 2019.
City Clerk
-6-
DORSEY&WHITNEY LLP,ATTORNEYS,UES MOINES,IOWA
J j I I in/436989-25/Sot I I GO C11 IA
PU131,11CATION CERTIFICATE
(PLEASE NOTE: Do not (late and return this certificate until you have received the
publisher's affidavit and have verified that the notice was published on the (late indicated
in the affidavit but please return all other umpleted pages to its as soon as they are
available.)
S'FATE OF IOWA
JOHNSON COUN'I"Y SS:
CITY 017'1
1, the undersigned, City Clerk of'thc City ol"Tiffin, do hereby cei-tity that pin'sual'it to the
resolution ol'the City C ouncil fixing a date oaf mecting at NvIiieh it is proposed to take action to
enter into a, certain loan. agrecri-lent, the notice, of the printed slip attached to fl—)e
publishcr's ,iflidavit hereto attached is a tnle and complete copy, \V,'IS published On the (181C, ,Ind
ill ti'le, aaewspapa r Specifivd in such. 'affidavit, \A/InCII newspaper Ilas a general cii-culation in the
City.
WITNF"SS MY I IAND this (lay of .................
...............
City Clerk
(Attach here the publisher's original affidavit with the clipping ol"the notice, as published.)
..T
DORS,I;Y 81,V�/I I 1,J F Y I1 f',ATTOR1,43"YS, I)I s IMOINTI S,K M/A
DORSEY"
ah
June 14, 2019
Via Email
Doug Boldt
City Administrator/City Hall
Tiffin, Iowa
Re: General Obligation Corporate Purpose Loan Agreement
Our File No. 436989-25
Dear Doug:
We have prepared and attach proceedings to be used at the June 18`x' City Council meeting to
enable the City Council to set July 2nd as the date for a hearing on the General Obligation Corporate
Purpose Loan Agreement(the"Loan Agreement").
The documents attached include the following items:
1. Resolution fixing the date, time and place of the meeting at which it is proposed to hold
the hearing and take action to enter into.the Loan Agreement. The form of notice of hearing is set out in
Section 2 of the resolution. Please print an extra copy for delivery to the publisher. Please insert the time
and place of the hearing in both the resolution and the notice.
2. Attestation Certificate with respect to the validity of the transcript.
3. Organization Certificate.
4. Publication Certificate with respect to publication of the notice, to which must be
attached the publisher's affidavit of publication with the clipping of the notice as published.
The notice of hearing on the Loan Agreement must be published at least once, not less than four
(4) and not more than twenty (20) days before the July 2nd meeting date set for the hearing, in a legal
newspaper which has a general circulation in Tiffin. The last date on which this notice can be
effectively published is June 28 2019.
Please scan and email a copy of the published notice to knit e.sLisarl i"Fdorse com as soon as it
appears in the newspaper.
As soon as possible after the City Council meeting,please return one fully executed copy of these
proceedings. If you have any questions, please contact Cheryl Ritter or me.
Best regards,
John Danos
Attachments
cc via email: Ashley Jay Platz
Jeff Heil
8oi Grand Avenue I Suite 4100 1 Des Moines,IA 150309-2790 1 T 515.283.1000 1 F 515.283.1o6o I dormy,.a it