Resolutions-2017-102

DocuSign Envelope ID: A4C806C4- 6FB9-4F82-AC68-41F4A64E1955 October 12,2017 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: General Obligation Corporate Purpose Bonds, Series 2017A Our File No. 436989-22 Dear Doug: Wehave prepared and attach thenecessary proceedings covering thehearing onthe Essential Purpose Loan Agreement andproviding forthe adoption ofa th resolution taking additional action withrespect tothat Loan Agreement, attheOctober 17 City Council meeting. The resolution also authorizes theuse ofapreliminary official statement (the Northland Securities, Inc. inconnection with themarketing oftheBonds. The proceedings attached include thefollowing items: 1. Minutes ofthemeeting covering the hearing, followed bytheresolution taking additional action inconnection with theLoan Agreement. This resolution simply sets forth the Theresolution also provides for theauthorization oftheP.O.S. 2. Attestation Certificate with respect tothevalidity ofthetranscript. th OnOctober 17 the CityCouncil should meet asscheduled, hold thehearing onits intention toenter into theLoan Agreement andadopt theattached resolution. The minutes as drafted assume thatnoobjections willbefileormade. Prior totheadoption ofthe resolution, you and theCity Council should review the proposed P.O.S.,which Northland Securities, Inc. ispreparing, carefully foraccuracy and to ensure that there are noimportant facts being leftoutofthedocument that might bear on potential risks tobond holders. Itshould benoted that, while wewill review and comment on theportions ofthe document that arepertinent toour role asbond counsel, wehave notbeen engaged asdisclosure counsel, and wewill notengage inafull duediligence process to investigate theaccuracy offinancial data oranybond holder risks that areunknown tous, nor will webeproviding anylegal opinions withrespect tothedocuments offering theBonds for sale. 801GrandAvenue |Suite4100 |DesMoines,IA |50309-8002 4515. | 283.1000 | &515.283.1060 |dorsey.com