HomeMy Public PortalAboutResolutions-2016-050Tiffin/436989-14/2nd'/2 Hrg Only Sewer Rev.
RESOLUTION NO. 2016-050
Resolution taking additional action on proposal to enter into a Sewer Revenue
Loan and Disbursement Agreement and to borrow money thereunder in a
principal amount not to exceed $2,400,000
WHEREAS, the City of Tiffin (the "City"), in Johnson County, State of Iowa, did
heretofore establish a Municipal Sanitary Sewer System (the "Utility") in and for the City which
has continuously supplied sanitary sewer service in and to the City and its inhabitants since its
establishment; and
WHEREAS, the management and control of the Utility are vested in the City Council
(the "Council") and no board of trustees exists for this purpose; and
WHEREAS, pursuant to a resolution adopted and approved by the City Council on
September 8, 1999 (the "Outstanding Bond Resolution"), the City previously issued its Sewer
Revenue Bond, SRF Series 1999C, dated September 30, 1999 (the "Outstanding Bond"), a
portion of which remain outstanding; and
WHEREAS, pursuant to the Outstanding Bond Resolution, the City reserved the right to
issue additional obligations payable from the net revenues of the Utility and ranking on a parity
with the Outstanding Bond; and
WHEREAS, the City has heretofore proposed to contract indebtedness and enter into a
certain Sewer Revenue Loan and Disbursement Agreement in a principal amount not to exceed
$2,400,000 (the "Agreement') pursuant to the provisions of Section 384.24A of the Code of
Iowa for the purpose of paying the cost, to that extent, of planning designing and constructing
improvements and extensions to the Utility (the "Project'), and has published notice of the
proposed action and has held a hearing thereon on August 2, 2016;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as
follows:
Section 1. The City Council hereby determines to enter into the Agreement in the
future and orders that Sewer Revenue Bonds be issued at such time in evidence thereof. The
Council further declares that this resolution constitutes the "additional action" required by
Section 384.24A of the Code of Iowa.
Section 2. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
-2-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/436989-14/2°d %z Hrg Only Sewer Rev.
Section 3. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Attest:
City Cl
Passed and approved August 2, 2016.
On motion and vote, the meeting adjourned.
Attest:
City Cler
Mayor
Mayor
-3-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Tiffin/436989-14/2'd 1/2 Hrg Only Sewer Rev.
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 attached hereto
is a true, correct and complete copy of the proceedings of the City Council relating to the hearing
on the Council's intention to enter into a Sewer Revenue Loan and Disbursement Agreement in a
principal amount not to exceed $2,400,000.
WITNESS MY HAND this 3 day of , 2016.
City CletV 61
-4-
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
DORSEY
DORSEY & WHITNEY LLP
July 28, 2016
VIA EMAIL
Doug Boldt
City Administrator/City Hall
Tiffin, Iowa
Re: Tiffin, Iowa
Sewer Revenue Loan and Disbursement Agreement
File No. 436989-14
Dear Doug:
We have prepared and attach proceedings related to the public hearing on the Sewer
Revenue Loan and Disbursement Agreement to be held on August 2, 2016.
The proceedings attached include the following items:
1. Minutes of the meeting covering the public hearing, followed by the resolution
taking additional action in connection with the Sewer Revenue Loan and Disbursement
Agreement (the "Agreement"). This resolution simply sets forth the City Council's
determination to enter into the Agreement in the future and its adoption constitutes the
"additional action" required by the Iowa Code.
2. Attestation Certificate with respect to the validity of the transcript.
On August 2nd, the City Council should meet as scheduled and hold the hearing on its
intention to enter into the Agreement. The minutes as drafted assume that no objections will be
filed or made.
Please return one fully executed copy of these proceedings to our office as soon as
possible. Please call Emily Hammond or me if you have questions.
Kind regards,
Amy Bjork
Attachments
cc: Ashley Jay Platz
Tracy Scebold
DORSEY & WHITNEY LLP • WWW.DORSEY.COM - T 515.283.1000 • F 515.283.1060
801 GRAND • SUITE 4100 - DES MOINES, IOWA 50309-8002
USA CANADA EUROPE ASIA
Tiffin/436989-14/2nd'/2 Hrg Only Sewer Rev.
(Hearing)
436989-14
Tiffin, Iowa
August 2, 2016
A meeting of the City Council of Tiffin, Iowa, was held on August 2, 2016, at seven
o'clock p.m. at the Tiffin City Hall Council Chambers, Tiffin, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following Council Members present and absent:
Present: Kahler, Ryan (Phone In), Havens, Bartels, Upton,
Absent: None
This being the time and place specified for holding the public hearing and taking action
on the proposal to enter into a Sewer Revenue Loan and Disbursement Agreement, 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 declared the public
hearing closed.
After due consideration and discussion, Council Member Ryan introduced the following
resolution and moved its adoption, seconded by Council Member Kahler The Mayor put the
question upon the adoption of said resolution, and the roll being called, the following Council
Members voted:
Ayes: Ryan, Havens, Bartels, Upton, Kahler.
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out.
DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA