Resolution No. 2025-074 - Resolution authorizing and approving a Loan and Disbursement Agreement and providing for the issuance and securing the payment of $14,384,000 Water Revenue Bonds, Series 2025

AGENDA ITEM # I-1 AGENDA INFORMATION TIFFIN CITY COUNCIL COMMUNICATION DATE: August 14, 2025 AGENDA ITEM: Resolution 2025-074 – Resolution authorizing and approving a Loan and Disbursement Agreement and providing for the issuance and securing the payment of $14,384,000 Water Revenue Bonds, Series 2025 ACTION: Approval Background: The City of Tiffin is pursuing financing through the Iowa SRF program to support critical improvements to the municipal water system. These improvements are necessary to meet current and future demand, ensure regulatory compliance, and enhance service reliability for residents and businesses. The SRF program offers low-interest financing for water infrastructure projects, and this bond issuance represents a key step in securing those funds. Key Details: • Bond Amount: $14,384,000 • Series: 2025 Water Revenue Bonds • Purpose: Water system improvements and infrastructure upgrades • Funding Source: Iowa State Revolving Fund (SRF) • Repayment: Secured by water system revenues Recommendation: Staff recommends approval of the resolution authorizing the Loan and Disbursement Agreement and the issuance of the Water Revenue Bonds. This action will allow the City to move forward with essential water infrastructure projects while leveraging favorable financing terms. ATTACHMENTS: Resolution 1