Resolutions-2022-015

RESOLUTION NO. 2022-015 Resolution Setting the Date of March 15, 2022, for Public Hearings and Additional Action on proposals to enter into General Obligation Loan Agreements and to Borrow Money thereunder WHEREAS, the City of Tiffin (the “City”), in Johnson County, State of Iowa, pursuant to the provisions of Section 384.24A of the Code of Iowa, proposes to enter into a loan agreement (the “Essential Purpose Loan Agreement”) and to borrow money thereunder in a principal amount not to exceed $600,000 for the purpose of paying the costs, to that extent, of acquiring vehicles and equipment for the municipal fire department; and acquiring vehicles and equipment for the municipal public works/street department (the “Essential Purpose Projects”), and it is necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Essential Purpose Loan Agreement and to give notice thereof as required by such law; and WHEREAS, the City also proposes to enter into a loan agreement (the “Urban Renewal Loan Agreement”) (collectively, the Essential Purpose Loan Agreement and the Urban Renewal Loan Agreement are sometimes referred to hereinafter as the “Loan Agreements”) and to borrow money thereunder in a principal amount not to exceed $1,600,000, pursuant to the provisions of Sections 384.24A and 384.24.3(q) of the Code of Iowa, for the purpose of paying the costs, to that extent, of undertaking the Public Works Building Project, an urban renewal project in the Tiffin Urban Renewal Area authorized by action of the City Council June 16, 2020, (the “Public Works Project”) (collectively, the Essential Purpose Projects and the Public Works Project are sometimes referred to hereinafter as the “Projects”), and in lieu of calling an election thereon, the City desires to institute proceedings to enter into the Urban Renewal Loan Agreement by causing a notice of such proposal to be published, including notice of the right to petition for an election, under the provisions of Sections 384.24.3(q) and 384.26 of the Code of Iowa, and it is now necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Urban Renewal Loan Agreement and to give notice thereof as required by such law; and NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. This City Council shall meet on March 15, 2022, at the City Hall Council Chambers, Tiffin, Iowa, at 7 o’clock p.m., at which time and place hearings will be held and proceedings will be instituted and action taken to enter into the Loan Agreements described in the preamble hereof. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Essential Purpose Loan Agreement setting forth the amount and purpose thereof, the time when and place where the said meeting will be held by publication at least once, not less than four (4) and not more than twenty (20) days before the date of said meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: