Resolutions-2024-005

Tiffin / 436989- 43 /Set Hrg GO CP LA NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $ 3, 000 750, GENERAL OBLIGATION) The City Council of the City of Tiffin, Iowa ( the " City"),will meet on February 20, 2024, at the Tiffin City clock p. Hall, Tiffin, Iowa, at 7 o' m.,for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement ( the " Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $ 3, 000 for the purpose of paying 750, the costs, to that extent, of ( a)constructing street, stolni water drainage, sanitary sewer system, water system and sidewalk improvements; ( b)acquiring and installing street lighting, signage and signalization improvements; ( c)acquiring vehicles and equipment for the municipal public works department; and ( d)acquiring vehicles and equipment for the municipal fire department. The Loan Agreement is proposed to be entered into pursuant to authority contained in 24A of the Code of Iowa and will constitute Section 384. a general obligation of the City. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen ( 15) days thereafter. By order of the City Council of the City of Tiffin, Iowa. Abigail Hora City Clerk 3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA