Resolutions-2017-014

March 3, 2017 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: General Obligation Loan Agreements Our File No. 436989-19 Dear Doug: We have prepared and attach proceedings to be used at the March 7th City Council meeting covering the hearings on the loan agreements and providing for the adoption of the resolution ("Resolution") combining loan agreements into a single loan agreement (the "Loan Agreement"), taking additional action with respect to the General Obligation Corporate Purpose Bonds (the "Bonds") and authorizing a debt service property tax levy for the fiscal year beginning on July 1, 2017 in the amount of $185,618 for the payment of debt service on the Bonds. If a petition is filed asking that the proposal to enter into the City Hall Loan Agreement be put to an election, please contact us right away. After it is adopted, a certified copy of the attached Resolution must be filed with the Johnson County Auditor no later than March 31, 2017. Please print an extra copy of the Resolution for this purpose. When the City is ready to enter into the Loan Agreement, we will prepare proceedings to enable the City Council to supplement the Resolution to provide for the actual repayment structure, interest rate on the Bonds, and the additional tax levies and to make a supplemental filing with the County Auditor. The proceedings attached include the following items: 1. Minutes of the March 7th City Council meeting covering the hearings and providing for the adoption of the Resolution. The Resolution combining loan agreements and authorizing the property tax levy follows the minutes. 2. Attestation Certificate with respect to the validity of the transcript. 3. County Filing Certificate of the Johnson County Auditor relating to the filing of a certified copy of the resolution in that office