Resolutions-2017-008

DocuSign Envelope ID: 9EC8E2B8- 49B3-45E1-B3E3-44FAB3545CE0 Tiffin/436989-19/SetHrgGOLAs(partrr) RESOLUTION NO. 2007-008 Resolution setting thedate forpublic hearings onproposals toenter into General Obligation Loan Agreements andtoborrow money thereunder WHEREAS, theCity ofTiffin Johnson County, State ofIowa, pursuant to theprovisions ofSection 384.24A oftheCode ofIowa, proposes toenter into aloanagreement and toborrow money thereunder inaprincipal amount not toexceed $5,100,000 forthepurpose of paying thecosts, tothat extent, of (1) constructing street, water system, sanitary sewer system, sidewalk, storm water drainage, park trails and improvements inexisting municipal parks; (2)acquiring vehicles and equipment for themunicipal public works department; and (3)acquiring and installing street lighting and signalization improvements , anditisnecessary tofixadate of meeting oftheCity Council atwhich itisproposed totake action toenter into theEssential Purpose Loan Agreement andtogivenotice thereof asrequired bysuchlaw; and WHEREAS, theCity also proposes toenter into aloanagreement City Hall Loan and, togeth andtoborrow money thereunder inaprincipal amount nottoexceed $150,000, pursuant tothe provisions ofSection 384.24A oftheCode ofIowa, forthepurpose ofpaying thecosts, tothat extent, ofconstructing, furnishing andequipping anaddition andimprovements toCity Hall (the City Hall now necessary tofixadate ofmeeting oftheCity Council atwhich itisproposed totake action toenter into theCity Hall Loan Agreement andtogive notice thereof asrequired bysuch law, including notice oftheright topetition foranelection onsuch proposal; NOW, THEREFORE, BeItResolved bytheCity Council oftheCity ofTiffin, Iowa, as follows: Section 1. This CityCouncil shall meet onMarch 7,2017, attheCity Hall Council Chambers, Tiffin, Iowa, at . m.,atwhich time andplace hearings will beheld and proceedings willbeinstituted andaction taken toenter into the Loan Agreements described in thepreamble hereof. Section 2. The City Clerk ishereby directed togive notice oftheproposed action on theEssential Purpose Loan Agreement setting forth the amount and purpose thereof, thetime when andplace where thesaid meeting will beheldbypublication atleast once, notless than four (4)andnotmore than twenty (20) daysbefore thedate ofsaid meeting, inalegal newspaper which has ageneral circulation intheCity. The notice shall beinsubstantially thefollowing form: 2- DORSEY & WHITNEY LLP,ATTORNEYS, DESMOINES, IOWA