HomeMy Public PortalAbout1980-2A, A Resolution Providing For The Advertisement Of $600,000 Corporate Purpose Bonds
RESOLUTION N0. 1980-2A
RESOLUTION providing for the advertisement
of 00,000 Corporate Purpose Bonds.
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WHEREAS the City Council of the City of Riverdale,
Iowa, has heretofore determined it to be advisable and necessary
to construct certain street improvements and certain works and
facilities useful for the collection and disposal of surface
waters, all in and for said City, and such improvements constitute
"essential corporate purposes" within the meaning of Section
384.24(3) of the Code of Iowa, 1979, as amended; and
WHEREAS under the provisions of Section 384.28 of the
Code of Iowa, 1979, as amended, the City Council may include in
a single resolution and sell as a single issue of bonds any
number or combination of essential corporate purposes; and
WHEREAS it is necessary and for the best interest of
said City that $600,000 Corporate Purpose Bonds contemplated
to be issued to pay that part of the cost of the aforesaid
improvements be offered for sale in the manner required by
Chapter 75 of the Code of Iowa, 1979, as amended;
NOW, THEREFORE, Be It and It Is Hereby Resolved by the
City Council of the City of Riverdale, Iowa, as follows:
Section 1. That Corporate Purpose Bonds of said City
in the amount of $600,000 be advertised for sale, pursuant to
published notice in substantially the form attached hereto as
Exhibit A, and the City Clerk be and is hereby authorized and
directed to publish such notice of sale once each week for at least
two consecutive weeks in the " quad city Times ", a newspaper
published and of general circulation in Scott County, Iowa.
Section 2. That the City Clerk is hereby authorized to
cause such additional circulars to be prepared as may be deemed to
be advisable in order to afford due publicity to the sale of said
bonds.
Section 3• That all resolutions or parts thereof in
conflict herewith be and the same are hereby repealed and this
resolution shall be effective forthwith upon its passage and
~1lrr
approval.
Passed and approved
Attest:
ity Cler
July 17 ~ 19$p•
2 :7
1, r (r~2J 2
Mayor
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