Resolutions-2017-122

December 1, 2017 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: $5,140,000 General Obligation Corporate Purpose Bonds, Series 2017A Our File No. 436989-22 Dear Doug: We have prepared and attach the necessary proceedings to be used at the December 5th City Council meeting to enable the City Council to adopt the resolution (the “Resolution”) approving the Loan Agreement and authorizing the issuance of the General Obligation Corporate Purpose Bonds, Series 2017A. The proceedings attached include the following items: 1. Minutes of the meeting covering the adoption of the Resolution. The actual Resolution follows the minutes. The form of Bond, Authentication Certificate and Assignment set out in the Resolution should not be completed or executed. 2. Attestation Certificate attesting to the validity of the transcript. 3. County Filing Certificate. A certified copy of the Resolution must be filed with the Johnson County Auditor, and we have prepared a form of certificate to be signed by the County Auditor relating to the filing of a certified copy of the Resolution in the County Auditor’s office. Please make an extra copy of for this purpose. Beginning in the 2018-2019 fiscal year, the County Auditor will have a mandatory duty to make a levy of taxes to pay principal of and interest on the Bonds unless the City’s budget each year affirmatively shows that the tax should not be levied because other funds will be applied to the payment of the Bonds for that budget year. To the extent the City determines that property tax levies will be needed for payment in any year, the tax levy amounts needed must be certified for that year in the City’s budget as part of the Debt Service Fund, and the funds derived from sources other than taxes must be shown on the appropriate budget document. As these proceedings are completed, please return one fully executed copy to our office.