Resolutions-2017-118

WHEREAS, a Preliminary Official Statement (the “P.O.S.”) has been prepared to facilitate the sale of $5,100,000 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; and WHEREAS, a certain Bond Purchase Agreement has been prepared to set forth the terms of the Bonds and the understanding between the City and the Underwriter with respect to the purchase thereof, and it is now necessary to make provision for the approval of the Bond Purchase Agreement; NOW, THEREFORE, It Is Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. The Bond Purchase Agreement is hereby approved in substantially the form as presented to this City Council. The Mayor and City Clerk are hereby authorized and directed to execute and deliver the Bond Purchase Agreement to the Underwriter. Section 2. Further action with respect to the issuance of the Bonds and the approval of the Loan Agreement is hereby adjourned to the City Council meeting on December 5, 2017. Section 3. All resolutions and orders or parts thereof in conflict with the provisions of this resolution, to the extent of such conflict, are hereby repealed. 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 21, 2017. [Signature] Mayor Attest: [Signature] City Clerk