Resolutions-2017-105

WHEREAS, a Preliminary Official Statement (the “P.O.S.”) has been prepared to facilitate the sale of the General Obligation Corporate Purpose Bonds, Series 2017A (the “Bonds”) in evidence of the obligation of the City under the Loan Agreement, and the City Council has made provision for the approval of the P.O.S. and has authorized its use by Northland Securities, Inc. (the “Underwriter”), as the Underwriter of the issuance of the Bonds; NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. The Essential Purpose Loan Agreement, the General Purpose Loan Agreement #1, the General Purpose Loan Agreement #2 and the General Purpose Loan Agreement #3 are hereby combined into the Loan Agreement. The City Council hereby determines to enter into the Loan Agreement in the future and to issue General Obligation Corporate Purpose Bonds at such time, in evidence thereof. The City Council further declares that this resolution constitutes the “additional action” required by Section 384.24A of the Code of Iowa. Section 2. Further action with respect to the Loan Agreement is hereby adjourned to the City Council meeting scheduled for November 21, 2017. Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved November 7, 2017. [Signature] Mayor Attest: [Signature] City Clerk