Resolutions-2017-092

DocuSign Envelope ID: 815EAC64- 0721-4EBA-AC68-C85DEE52C31B Tiffin /436989-22 /SetHrgGOLAs (partrr) NOTICE OF PROPOSED ACTION TOINSTITUTE PROCEEDINGS TO ENTER INTO ALOAN AGREEMENT AND TOBORROW MONEY THEREUNDER INAPRINCIPAL AMOUNT NOT TOEXCEED $150,000 GENERAL OBLIGATION) willmeet onOctober 17, 2017, atthe , forthe purpose ofinstituting inaprincipal amount nottoexceed $150,000 for thepurpose ofpaying thecosts, tothat extent, of acquiring real estate forpublic uses, including fireprotection services. TheLoan Agreement isproposed tobeentered into pursuant toauthority contained in Section 384.24AoftheCode ofIowa andwillconstitute ageneral obligation oftheCity. The maximum rate ofinterest which may bepayable under theLoan Agreement is7% perannum. Atanytime before thedate fixed for taking action toenter into the Loan Agreement, a petition may befiled with theCity Clerk oftheCity asking that thequestion ofentering intothe Loan Agreement besubmitted totheregistered voters oftheCity, pursuant totheprovisions of Section 284.26oftheCode ofIowa. Byorder oftheCity Council oftheCity ofTiffin, Iowa. Ashely Jay Platz City Clerk 6- DORSEY & WHITNEY LLP,ATTORNEYS, DESMOINES, IOWA