Minutes-9/8/1999

Form 8038-G (Rev. May 1995) Department of the Treasury Internal Revenue Service Information Return for Tax-Exempt Governmental Obligations Under Internal Revenue Code section 149(e) 436989-3 Bond GO See separate Instructions. (Note: Use Form 8038-GC if the issue price is under $100,000.) Part I Reporting Authority If Amended Return, check here □ 1 Issuer's name City of Tiffin 2 Issuer's employer identification number 42-0868247 3 Number and street (or P.O. box if mail is not delivered to street address) 211 Main Street Room/suite 4 Report number G1999-2 5 City, town, or post office, state, and ZIP code Tiffin, Iowa 52340 6 Date of issue 7 Name of issue General Obligation Sewer Improvement Bond 8 CUSIP number None Part II Type of Issue (check applicable box(es) and enter the issue price) 9 Education (attach schedule-see instructions) 10 Health and hospital (attach schedule-see instructions) 11 Transportation 12 Public safety 13 Environment (including sewage bonds) 14 Housing 15 Utilities [X] Utilities 16 Other. Describe (see instructions) 17 If obligations are tax or other revenue anticipation bonds, check box □ 18 If obligations are in the form of a lease or installment sale, check box □ 15 1,078,685 Part III Description of Obligations <table> <tr> <th>(a) Maturity date</th> <th>(b) Interest rate</th> <th>(c) Issue price</th> <th>(d) Stated redemption price at maturity</th> <th>(e) Weighted average maturity</th> <th>(f) Yield</th> <th>(g) Net interest cost</th> </tr> <tr> <td>Final maturity</td> <td></td> <td>77,000</td> <td>77,000</td> <td></td> <td></td> <td></td> </tr> <tr> <td>Entire issue</td> <td></td> <td>1,078,685</td> <td>1,078,685</td> <td>years</td> <td>N/A%</td> <td></td> </tr> </table> Part IV Uses of Proceeds of Bond Issue (including underwriters' discount) <table> <tr> <th></th> <th></th> <th></th> <th></th> <th></th> <th></th> <th></th> </tr> <tr> <td>Proceeds used for accrued interest</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Issue price of entire issue (enter amount from line 20, column (c))</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td>1,078,685</td> </tr> <tr> <td>Proceeds used for bond issuance costs (including underwriters' discount)</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Proceeds used for credit enhancement</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Proceeds allocated to reasonably required reserve or replacement fund</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Proceeds used to currently refund prior issues</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Proceeds used to advance refund prior issues</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Total (add lines 23 through 27)</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Nonrefunding proceeds of the issue (subtract line 28 from line 22 and enter amount here)</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td>1,078,685.00</td> </tr> </table> Part V Description of Refunded Bonds (Complete this part only for refunding bonds.) 30 Enter the remaining weighted average maturity of the bonds to be currently refunded ▶ years 31 Enter the remaining weighted average maturity of the bonds to be advance refunded ▶ years 32 Enter the last date on which the refunded bonds will be called ▶ 33 Enter the date(s) the refunded bonds were issued ▶ Part VI Miscellaneous 34 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) ▶ 0 35 Enter the amount of the bonds designated by the issuer under section 265(b)(3)(B)(I)(III) (small issuer exception) ▶ 1,078,685 36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (see instructions) ▶ b Enter the final maturity date of the guaranteed investment contract ▶ 37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other governmental units ▶ b If this issue is a loan made from the proceeds of another tax-exempt issue, check box □ and enter the name of the issuer ▶ and the date of the issue ▶ 38 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box □ 39 If the issuer has identified a hedge, check box □ Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Margaret B. Reihman City Clerk Signature of issuer's authorized representative Date Type or print name and title