Resolutions-2019-096

August 16, 2019 Via Email Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: $4,500,000 General Obligation Corporate Purpose Bonds, Series 2019A Our File No. 436989-25 Dear Doug: We have prepared and attach the necessary proceedings to be used at the August 20th City Council meeting to adopt the resolution (the “Resolution”) providing for the issuance of General Obligation Corporate Purpose Bonds, Series 2019A (the “Bonds”). The proceedings attached include the following items: 1. Resolution authorizing the issuance of the Bonds. The form of Bond, Authentication Certificate and Assignment set out in the Resolution should not be completed or executed. 2. Attestation Certificate with respect to the validity of the transcript. 3. County Filing Certificate relating to the filing of a certified copy of this Resolution in the County Auditor’s office. After it is adopted, a certified copy of the Resolution must be filed with the Johnson County Auditor prior to closing on September 4, 2019. An extra copy of the Resolution should be printed for this purpose. As provided in the Resolution, beginning in the 2020-2021 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. Also attached is a Loan Agreement for execution by you and the Mayor. Please print three copies of the Loan Agreement for execution. After they have been signed please return all of these copies (VIA US MAIL) to us so that we can have them signed on behalf of the Northland Securities, Inc., after which we will furnish you with a signed original.