I-2 - Resolution 2024-031 - A Resolution Authorizing and Approving a Loan Agreement, for Issuance 2024A GO

May 17, 2024 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: General Obligation Corporate Purpose Bonds, Series 2024A Our File No. 436989-43 Dear Doug: We have prepared and attach proceedings to be used at the May 21, 2024 City Council meeting to enable the Council to adopt the resolution (the “Resolution”) approving the Loan Agreement and providing for the issuance of the General Obligation Corporate Purpose Bonds, Series 2024A (the “Bonds”). The proceedings attached include the following items: 1. Minutes of the meeting covering the adoption of the Resolution. The Resolution follows the minutes. The blanks in the form of Bond, the form of Certificate of Authentication and the form of Assignment included as part of the Resolution should not be completed or executed. 2. Attestation Certificate with respect to the validity of the transcript. 3. County Filing Certificate relating to the filing of a certified copy of this Resolution in the Johnson County Auditor’s office. After it is adopted, a certified copy of the Resolution must be filed with the Johnson County Auditor prior to closing on May 30, 2024. An extra copy of the Resolution should be printed for this purpose. As provided in the earlier pre-levy Resolution and in the attached Resolution, continuing in the 2025-2026 fiscal year, the County Auditor will have a mandatory duty to make a levy of taxes to pay principal of and interest on the Bonds unless the City’s budget each year affirmatively shows that the tax should not be levied because other funds will be applied to the payment of the Bonds for that budget year. To the extent the City determines that property tax levies will be needed for payment in any year, the tax levy amounts needed must be certified for that year in the City’s budget as part of the Debt Service Fund, and the funds derived from sources other than taxes must be shown on the appropriate budget document. As these proceedings are completed, please return one fully executed copy to our office.