Resolutions-2019-085

h I fin/ 4369W25/ I hg& A wh POS RESOLUTION NO. 20 9- 085 Resolution lakinf.., addifiona] action tap anter into a Gcnc,,ral Obligation (.', orporate Purpose Loan Agre(nnent a111d aUthorizing Ifie use of a prefiminary official statement fior the sa,le, of Bonds WHEREAS, it has been proposed that. the City enter into the Loan Agreement and the Clity heretoforc proposed to crAcr into as loan agreement ( the " L, oan Agrcement"), J) UNUMIC tO the provisions of Section 384, 24A of the C.odc of Iowa, and to borrow money therumder in as to 1,vincipai aunouunnt not cxceed $ 4, 500, 000 f6r the purpose of' paying the cost., to that extent, of cons1, rLJC, fi11j,,, street., storn,i watcr drainage, sadewalk, sanitary sewer and water, system improvements and acquiring and installing, street fighting, signaliza. fion and signage, and JR11"SUallt W 1, AW and a notice dUly j) UhflShCd, the City COumed has held an. pUbfi.0 hearing on such proposal on Rfly 2, 2019" ann.d I W1111REAS, the (" ity has deternIfi)( A 1, 0 iSSLIC ( Jeneral Obligation Annual Appropriation C.orporatc Purpose Bonds, Series 2019A ( the " Bonds") in cvicicnacc® or its obligations under the Lmin Agreetnent through itillg.; and has direct(,xi the preparation as negotia[ Wd LMCICTWI' crap` an. preliniinary official statennnc rd, f6r the inarketing, of the, 1.3onds, and WHEREAS, a,t 11rchn' driary Offi(,A, al Stateinuit ( the, " P, O. S.") has been prepared to fiacilit'ate the Sa-.de of, tine Bonds, and it is now inecessary to make provision fin flic approval of the 11" O' S. 1 NOW, T1 IF'REJ ORF, Be It ResoNed by t11C C"i[ V OUTICil OfthC City ( A"[ 11141, 10" 1, 1, as f6flows., Section I ThC City COU1161 hereby dcterrn.ines to enter into the 1- oan Apgeement in the Futturc and orders that the Bonds be iSSUCd at such time, in thereof evidcnce The City. C'mund Rulfier declares that this the " resolution constitutes additional aIdiOfl" N(pired by Section 384. 24A, ofthe Code cap` lowa, Scction 2. The City Administrator is hereby authorim] to take such action as shall be deeined necessary and appropriate, Nvith the assistance of Northland SCCLII-itiCS, k1C., thC City' s ITILMicipa] financial advisor ( the " Financial Advisor"), to prepare the P,('), S. describirq,.;the is and providing for the terms and conditions cab their sale, and all action heretofore taken in this regard is hereby ratiried and approved. Section 3. The us(,.',ofthc 11, 0, S, rclating to the Bonds in substantially the fion-n as has bc,en presented to and considered by the Board is [ wreby approwd, and the I imancial Advisof is hereby authorized to prepare and Los(, as final Official StatC111CfA [ M thC [ 3011dS SUbstantially in the fiorni of the PX1S. but with such changles therchi as are requircxl ten conflorrn the same to the terrns of the Bonds arid the resolution, when adoptcd, providing fior the sale and issuance of' the Bonds, and the Board Secretary is hereby authorized and difCCtCd ten CXCCUtC as finai Official 11, Staletnent to)- the Bonds, if' requested. Thc 0S, as of" its date is deerned final by the (,' it)/ Within th, e ineaninj.:, of' Rule 15( e)( 2) ] 2 OfthC SCCLUifieS kind [, xchangc, C.,.on'u-nission. 2, DORSEA1 & LLY1, NA11111" NEY' ATTORNEYS, DES MOINES, IOWA