Resolutions-2017-102

DocuSign Envelope ID: A4C806C4- 6FB9-4F82-AC68-41F4A64E1955 Tiffin /436989-22 /Hrg & Auth POS RESOLUTION NO. 2017-102 Resolution taking additional action toenter into General Obligation Loan Agreement andauthorizing theuse ofapreliminary official statement for thesale ofBonds WHEREAS, theCity ofTif theprovisions ofSection 384.24A oftheCode ofIowa, heretofore proposed toenter into aloan agreement and toborrow money thereunder ina principal amount not toexceed $4,650,000 forthepurpose ofpaying thecosts, tothat extent, of 1)constructing street, water system, storm water drainage, sanitary sewer system andsidewalk improvements; and (2)installing street lighting andstreet signalization, and pursuant tolawand anotice duly published, theCity Council hasheld apublic hearing onsuch proposal onOctober 17, 2017; and facilitate thesale oftheGeneral Obligation Corporate Purpose Bonds, Series 2017A (the w necessary tomake provision fortheapproval oftheP.O.S.andtoauthorize itsuse byNorthland NOW, THEREFORE, BeItResolved bytheCity Council oftheCity ofTiffin, Iowa, as follows: Section 1. The City Council hereby determines toenter into the Loan Agreement in thefuture orders that the Bonds beissued atsuch time, inevidence thereof. The City Council further declares that this resolution constitutes the 384.24AoftheCode ofIowa. Section 2. The City Administrator ishereby authorized totake such action asshall be deemed necessary andappropriate with the assistance ofthe Underwriter toprepare theP.O.S. describing theBonds and providing fortheterms and conditions oftheir sale, and allaction heretofore taken inthisregard ishereby ratified andapproved. Section 3. The use bythe Underwriter oftheP.O.S.relating totheBonds in substantially theform ashasbeen presented toandconsidered bytheCity ishereby approved, andthe Underwriter ishereby authorized toprepare and useafinal Official Statement forthe Bonds substantially intheform ofthe P.O.S.butwith such changes therein asarerequired to conform thesame totheterms ofthe Bonds andthe resolution, when adopted, providing for the sale andissuance oftheBonds, andtheCity Administrator ishereby authorized anddirected to execute afinal Official Statement forthe Bonds, ifrequested. The P.O.S.asofitsdate is deemed final bytheCity within themeaning ofRule 15(c)(2)-12oftheSecurities andExchange Commission. Section 4. Further action with respect totheLoan Agreement and theBonds is hereby adjourned totheCity Council meeting scheduled forNovember 7,2017. 2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA