Resolutions-2017-014

DocuSign Envelope ID: 7E8AE5FC- A2BD-44CB-8DF1-F13EE7D77DAB Tiffin/ 436989-19/Hrg (Partrr),Combine andPrelevyGOCPLA Section 3. Forthe purpose ofproviding forthelevy andcollection ofadirect annual taxsufficient topaytheprincipal ofandinterest ontheBonds asthesame become due, there is hereby ordered levied onallthetaxable property intheCity thefollowing direct annual tax: Forcollection inthefiscal yearbeginning July1,2017, sufficient toproduce thenetannual sumof $185,618. Provided, however, that atthetime theBonds are issued, theactual taxlevy amounts required to paytheprincipal ofandinterest ontheBonds ineach year shall bedetermined based upon the interest rateorrates atwhich theBonds are issued, andthis resolution shall besupplemented by resolution oftheCity Council toprovide forsuch actual andnecessary taxlevy amounts. Section 4. Acertified copy ofthisresolution shall befiled with theCounty Auditor ofJohnson County, andsaid Auditor ishereby instructed toenter forcollection andassess the taxhereby authorized. When annually entering such taxes forcollection, theCounty Auditor shall include thesame asapart ofthe taxlevy forDebt Service Fund purposes oftheCity and when collected, the proceeds ofthetaxes shall beconverted into the Debt Service Fund ofthe City andsetaside therein asaspecial account tobeused solely andonly forthe payment ofthe principal ofandinterest ontheBonds hereby authorized andfornoother purpose whatsoever. Section 5. Allresolutions orparts thereof inconflict herewith are hereby repealed to theextent ofsuch conflict. Section 6. This resolution shall beinfullforce and effect immediately upon its adoption andapproval, asprovided bylaw. Passed and approved March 7,2017. Mayor Attest: City Clerk 3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4819-1441-9268\\2