Resolutions-2015-089

July 2, 2015 Doug Boldt City Administrator/City Hall Tiffin, Iowa Via Email Re: $4,430,000 General Obligation Annual Appropriation Corporate Purpose Bonds, Series 2015A Our File No. 436989-13 Dear Doug: We have prepared and attach the updated proceedings to be used at the July 8 City Council meeting to adopt the resolution (the “Resolution”) approving the Loan Agreement and issuing the General Obligation Annual Appropriation Corporate Purpose Bonds, Series 2015A. The proceedings attached include the following items: 1. Minutes reflecting the hearing and providing for the adoption of the Resolution with the actual Resolution following. The form of Bond, Authentication Certificate and Assignment set out in the Resolution should not be completed or executed. 2. Certificate attesting transcript. 3. A certified copy of the Resolution must be filed with the Johnson County Auditor, and we have prepared a form of certificate to be signed by the County Auditor relating to the filing of a certified copy of the Resolution in that office. An extra copy of the Resolution should be printed for this purpose. In the future, to the extent of affirmative appropriations by the City Council, 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.