Resolution 2025-092 – A Resolution Setting the Date of January 20, 2026, for a Public Hearing and Additional Action on Proposal to enter into a General Obligation Urban Renewal Loan Agreement and to Borrow Money thereunder

Tiffin / 436989-NEW / Set Hrg (rr) GO UR LA RESOLUTION NO. 2025-092 A Resolution Setting the Date of January 20, 2026, for a Public Hearing and Additional Action on Proposal to enter into a General Obligation Urban Renewal Loan Agreement 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 general obligation urban renewal loan agreement (the “Urban Renewal Loan Agreement”) and to borrow money thereunder in a principal amount not to exceed $15,000,000, 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 Community/Recreation Center Development Project, an urban renewal project in the Tiffin Urban Renewal Area which was previously authorized by action of the City Council on January 7, 2025 (the “Project”), and in lieu of calling an election thereon, the City desires to institute proceedings to enter into the 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 Loan Agreement and to give notice thereof as required by such law; 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 January 20, 2026, at the ____________________________, Tiffin, Iowa, at ________ o’clock ___.m., at which time and place a hearing will be held and proceedings will be instituted and action taken to enter into the Loan Agreement described in the preamble hereof. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the 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 ten (10) 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: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA