I-3 - Resolution 2022-027 - Set PH for Additional Action for GO Note Agreement

RESOLUTION NO. 2022-027 Resolution setting the date for public hearing and additional action on proposal to enter into General Obligation Loan Agreement and to borrow money thereunder WHEREAS, the City of Tiffin (the “City”), in Johnson County proposes to enter into a loan agreement (the “Urban Renewal Loan Agreement”) and to borrow money thereunder in a principal amount not to exceed $700,000, pursuant to the provisions of Sections 384.24A and 384.24.3(q) of the Code of Iowa, for the purpose of paying the costs, to that extent, of undertaking the Public Safety Campus Land Acquisition Project, an urban renewal project in the 2017 Park Place Commercial Urban Renewal Are authorized by action of the City Council March 15, 2022 (the “Project”), and in lieu of calling an election thereon, the City desires to institute proceedings to enter into the Urban Renewal Loan Agreement by causing a notice of such proposal to be published, including notice of the right to petition for an election, under the provisions of Sections 384.24.3(q) and 384.26 of the Code of Iowa, and it is now necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Urban Renewal Loan Agreement and to give notice thereof as required by such law; NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. This City Council shall meet on April 5, 2022, at the ____________, Tiffin, Iowa, at ________ o’clock ___m., at which time and place a hearing will be held and proceedings will be instituted and action taken to enter into the Urban Renewal Loan Agreement described in the preamble hereof. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Urban Renewal Loan Agreement setting forth the amount and purpose thereof, the time when and place where the said meeting will be held by publication at least once, not less than ten (10) and not more than twenty (20) days before the date of said meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: