Resolutions-2025-013

436989- 47/ Tiffin/ Hrg Only GO CP RESOLUTION NO. 2025- 013 Resolution taking additional action on proposal to enter into a General Obligation Corporate Purpose Loan Agreement WHEREAS, the City of Tiffin ( the " City"),in Johnson County, State of Iowa, heretofore proposed to enter into a loan agreement ( the " Loan Agreement"), pursuant to the provisions of 24A of the Code of Iowa, and to borrow money thereunder in a principal amount not Section 384. 000 for the purpose of paying the costs, to that extent, of (a) constructing street, to exceed $ 5, 500, water system, sanitary sewer system, sidewalk and storm drainage improvements; and ( b) water acquiring and installing street lighting, signage and signalization improvements, and has published notice of the proposed action and has held a hearing thereon on February 4, 2025; and NOW, THEREFORE, It Is Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. City Council hereby deter lines to enter into the Loan Agreement in The the future and orders that General Obligation Corporate Purpose bonds or notes ( the " Bonds") be issued at such time, in evidence thereof. The City Council further declares that this resolution 25 of the Code of Iowa. constitutes the " additional action" contemplated under Section 384. Section 2. Further action with respect to the Loan Agreement and the Bonds is hereby adjourned to the City Council meeting on March 4, 2025. Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved February 4, 2025. Attest: 3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA