Resolutions-2015-065

STATE OF IOWA Counties of Linn and Johnson ss. NOTICE OF PROPOSED ACTION TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,500,000 (GENERAL OBLIGATION) The City Council of the City of Tiffin, Iowa, will meet on June 10, 2015, at the City Hall Council Chambers at 7:00 o'clock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement ("the Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $6,500,000, for the purpose of paying the costs, to that extent of: (1) constructing street, water, storm sewer, sanitary sewer, sidewalk and storm water drainage improvements; (2) installing street lighting and signage; and (3) improving and/or establishing municipal parks. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. Some or all of the repayment of principal under the Loan Agreement may be subject to an annual appropriation by the City Council. At that time and place, oral or written objections may be filed by anyone to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine not to enter into the Loan Agreement, in which case, the decision will be final unless appealed to the Iowa Supreme Court within fifteen (15) days thereafter. By order of the City Council of the City of Tiffin, Iowa. Tim Finken Interim City Clerk I, James Burke, do state that I am the publisher of THE GAZETTE, a daily newspaper of general circulation in Linn and Johnson Counties, in Iowa. The notice, a printed copy of which is attached, was inserted and published in THE GAZETTE newspaper in the issue(s) of May 29, 2015. The reasonable fee for publishing said notice is $197.14. This instrument was acknowledged by James Burke before me on May 29, 2015. Sandra K. Smith Notary Public in and for the State of Iowa