Resolutions-2026-001

Tiffin 1436989- 521 Hug ( rr) &Auth POS GO CP LA RESOLUTION NO. 2026- 001 Resolution taking additional action to enter into General Obligation Urban Renewal Loan Agreement and authorizing the use of a Preliminary Official Statement for the sale of General Obligation Urban Renewal Bonds, Series 2026A WHEREAS, the City of Tiffin ( the " City"),in Johnson County, State of Iowa, pursuant to the 24A of the Code of Iowa, proposed to enter into a general provisions of Section 384. obligation urban renewal loan agreement ( the " Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $ 15, 000,pursuant to the provisions of 000, Sections 384. 24A and 384. 24. q) 3( of the Code of Iowa, for the purpose of paying the costs, to Recreation Center Development Project, an urban that extent of, undertaking the Community/ renewal project in the Tiffin Urban Renewal Area which was previously authorized by action of the City Council on January 7, 2025; and in lieu of calling an election upon such proposal, has published notice of the proposed action and has held a hearing thereon, and as of January 20, 2026, no petition had been filed with the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City; and WHEREAS, a Preliminary Official Statement ( the " P. O. S.") has been prepared to facilitate the sale of the General Obligation Urban Renewal Bonds, Series 2026A ( the " Bonds") in evidence of the obligation of the City under the Loan Agreement, and it is now necessary to make provision for the approval of the P. S. O. and to authorize its use by Northland Securities, Inc. (the " Underwriter"), as the Underwriter of the issuance of the Bonds; NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. The City Council hereby determines Agreement in to enter into the Loan the future and orders that the Bonds be issued at such time, in evidence thereof. The City Council further declares that this resolution constitutes the " additional action" required by 24A of the Code of Iowa. Section 384. Section 2. The City staff are hereby authorized to take such action as shall be deemed necessary and appropriate with the assistance of the Underwriter to prepare the P. S. O. describing the .Bonds and providing for the terms and conditions of their sale, and all action heretofore taken in this regard is hereby ratified and approved. Section 3. The use by the Underwriter of the S.relating to O. P. the Bonds in substantially the form as has been presented to and considered by the City is hereby approved, and the Underwriter is hereby authorized to prepare and use a final Official Statement for the Bonds substantially in the form of the P. S. O. but with such changes therein as are required to conform the same to the terms of the Bonds and the resolution, when adopted, providing for the sale and issuance of the Bonds, and the City Administrator or City Clerk, are hereby and/ authorized and directed to execute a final Official Statement for the Bonds, if requested. The S.as of its date is deemed O. P. final by the City within the meaning of Rule 12 of the 2)- c)( 15( Securities and Exchange Commission. 2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA