Resolutions-2018-010

RESOLUTION NO. 2018-010 Resolution taking additional action with respect to a General Obligation Annual Appropriation Fire Truck Acquisition Loan Agreement WHEREAS, the City of Tiffin (the “City”), in Johnson County, State of Iowa, heretofore proposed to enter into a General Obligation Annual Appropriation Fire Truck Acquisition Loan Agreement (the “Loan Agreement”), pursuant to the provisions of Section 384.24A of the Code of Iowa, and to borrow money thereunder in a principal amount not to exceed $1,100,000 for the purpose of paying the costs, to that extent, of acquiring a fire truck for use by the municipal fire department, and pursuant to law and a notice duly published, the City Council has held a public hearing on such proposal on February 20, 2018; and WHEREAS, a Preliminary Official Statement (the “P.O.S.”) has been prepared to facilitate the sale of General Obligation Annual Appropriation Fire Truck Acquisition Bonds, Series 2018A (the “Bonds”) in evidence of the obligation of the City under the Loan Agreement, and the City has made provision for the approval of the P.O.S. and has authorized its use by Northland Securities, Inc., Minneapolis, Minnesota (the “Underwriter”) as the underwriter for 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 City Council hereby determines to enter into the Loan Agreement in the future and orders that the Bonds be issued 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. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 3. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved February 20, 2018. [Signature] Mayor Attest: [Signature] City Clerk