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Home My WebLink AboutRESOLUTION NO. 2024-32Fairfax; 419915-NLW / Sct Hrg GO �quipment Acq LPAs MINUTES TO SET DATE FOR HEARING ON ENTERING INTO LEASE- PURCNASE AGREEMENTS 419915-NEW Fairfax, Iowa April 9, 2024 The City Council of the City of Fairfax, Iowa, met on April 9, 2024, at 6:00 o'clock p.m., at the Fairfax City Hall, 300 90��' St Ct, in the City. The meeting was called to order by the Mayor, and the roll was called showing the following inelnbers of the Council present and absent: Present: Toin Nun�e Mike Daly,_ Dan Wozniak Nick Volk and Marianne Wainwri�;ht Absent: None. After due consideration and discussion, Council Member Daly introduced the following resolution and inoved its adoption, seconded by Council Meinber Volk. The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Couticil Members voted: Ayes: Nurre Daly Wozniak Volk and Wainwri�ht Nays: None. Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out, .... At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. �—_ /� �'�"'�� f��- Jo Ann Beer, Mayor Attest: C� �� C�y � thia Stimson, ity C1erk/Treasurer -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Faiil�ix ! 419915-NEW / Set Hrg GO Equipment Acq LPAs RESOLUTION NO. 2024-32 RESOLUTION TO FIX A DATE FOR A PUBLIC HEARING ON PROPOSAL TO ENTER INTO GENERAL OBLIGATION I;QUIPMENT ACQUISITION LEASE-PURCHASE AGREEM�NTS VVITH LEASE PAYI��IENTS THEREUNDER WHEREAS, purstiiant to the provisions of Section 364.4 of the Code of Iowa, the City of Fairfax (the "City"), in Linn County, State of Iowa proposes to contract indebtedness and enter into Genera] Obligation Equipment Acquisition Lease-Purchase Agreemellts (the "Lease-Purchase Agreeinents") with lease payinents thereunder in a prineipal a�nount ilot to exceed $210,000, for the puzpose of paying the cost, to that extent, of acquiring a skid loader and inini-excavator for the municipal public works department (the "Acquisitions"), and it is now ilecessaiy to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Lease-Pui-chase Agreements aud to givc notice thereof as required by such law; NOW, THEREFORE, Be It Resolved by the City Council of the City of Fairfax, Iowa, as follows Section l. The City Council shall ineet on May 14, 2024, at the Fairfax City Hall, 300 80`�' St Ct, Fairfax, Iowa, at 6:00 o'clock p.m., at which tiine and place a hearing will be held and proceedings will be instituted and action taken to enter into the Lease-Purchase Agreements described in the preamble hereof. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Lease-Purchase Agreements setting forth the amount and purpose thereof, the tiine when and place where the said meeting will be held by publication at least once, not less than four (4) 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 Faiiiax i 419915-NEW i Sct IIr� GO Equipmcnt Acq LPAs NOTIGE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO GENERAL OBLIGATION EQUIPMENT ACQUISITION LEASE-PURCHASE AGREEMENTS IN A PRINCIPAL AMOUNT NOT TO EXCEED $210,000 (GENERAL OBLIGATION) The City Council of the City of Fairfax, Iowa, will meet on May 14, 2024, at the Fairfax City Hall, 300 80`�' St Ct, ii1 the City, at 6:00 o'clock p.in., for the puipose of instituting proce�dings and taking action to enter into lease-purchase agreements (the "Lease-Ptiirchase Agreements") with lease payn7ents thereunder in a principal ainouilt not to exceed $210,000 for the purpose of acquiring a skid loader and mini-excavator for the municipal public works department. The Lease-Purchase Agreeinents are proposed to be entered into pursuant to authority contained in Section 364.4 of the Code of Iowa and will constitute general obligations of the City. At the aforementioi7ed time and place, oral or written objections may be filed or made to the proposal to enter into the Lease-Purchase Agreements. After receiving objections, the City inay detennine to enter into the Lease-Purchase Agreements, 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 Fairfax, Iowa Cynthia Stimsoil City Clerk/Treasurer -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Fairl�lx �� 41991j-NFW � Sct Flrg GO Lquipment Acq LPAs Section 3. Pursuant to Section 1.150-2 of the Income Tax Regulations (tl�e "Regulations") of the Intei-�ia] Revenue Service, the City declares (a) that it intends to undertake the Acquisitions which are reasonably estiinated to cost approxiinatcly $210,000, (b) that other than (i) expenditures to be paid or reimbursed from sources other thau the issuance of bonds, notes or other obli�ations (the `Bonds"), or (ii) expenditures made not earlier than 60 days prior to the date of this Resolution or a previous intent resolution of the City, or (iii) expenditures amounting to the lesser of $100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting prelimii�ary expenditures as defined in Section 1.150-2(�(2) of the Regulations, no expenditures for the Acquisitions have hel•etofore beeil made by the City and no expenditures will be inade by the City until after- the date of this Resolution or a prior intent resolution of the City, and (c) that the City reasonably expects to reiinburse the expenditures made for costs of the City out of the proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to Section 1.150-2 of the Regulations. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Section 5. This resolution shall be in full force and effect iininediately upon its adoption and approval, as provided by law. Passed and approved April 9, 2024. � �� ,�r— �.�� Jo Ann Beer, Mayor Attest: r � � � �G;� Cy thia Stimson, City Clerk/Treasurer L -4- DORS�Y & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Pair�<ix ��41991 5-1��L=W 1 Sct Hrg GO Equipmcnt Acq LPAs ATTESTATION CERTIFICATE STATE OF IOWA COUNTY OT LINN SS: CITY OF FAIRFAX I, the undersigned, City Clerk of the City of Fairfax, do hereby certify that attached hc1-eto is a true and con-ect copy of the proceedings of the City Council relating to fixing a date for a hearing on the City Council's proposal to take action in connection with Lease-Purchase Agreements, as refei-�ed to thereii7. WITNESS MY HAND this 10`�' day of April 2024. � Cy'thia Stiinson, City Clerk/Treasurer -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA f air�ax / 419915-NF.,W ! Set Hrg GO Equipment Acq LPAs ORGANIZATION CERTIFICATE STATE OF IOWA COUNTY OI� LINN SS: CITY OF FAIRI�AX I, the undersignecl City Clerk, do hereby cet-tify that the City of Fairfax is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that the City is operating under the Mayor-Council form of govermnent ai�d that there �s not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory withii7 its limits or the incumbency in office of any of the officials hereinafter named. And I do further- certify that the following named parties are officials of the City as indicated: Jo Ann Beer, Mayor Cvnthia Stiinson, City Clerk/Treasurer Marianne Wainwri�ht, Council Member/Mayor Pro-Tern Michael Daly, Council Member Tom Nurre, Council Melnber Nick Volk, Council Member Dan Wozniak, Council Mernber WITNESS MY HAND this 10`�' day of April, 2024. � �Gt '�aU U �� Cynt, a Stimson, City Clerk/Treasurer -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Fairfa�c / 419915-NEW / Set Hrg GO Equipment Acq LPAs (PLEASE NOTE: Do not date and return this certificate until you have received the publisher's affidavit and have verified that the notice was published on the date indicated in the affidavit but please return all other completed pages to us as soon as they are available.) PUBLICATION CERTIFICATE STATE OF IOWA COUNTY OF LINN SS: CITY OF FAIRFAX I, the undersigned, City Clerk of the City of Fairfax, do hereby certify that pursuant to the resolution of the City Council fixing a date of ineeting at which it is proposed to take action to enter into Lease-Purchase Agreements, the notice, of which the printed slip attached to the ��i�Ii�l��"� �1ii.��vit ��°�� attached is a�� c� complete copy, was published on the date and in t1�� v��r ��e�i��r�' i:rd such affidavi�, �ahi.�� newspaper has a general circulation in the City. � WITNESS MY HAND this �,� �-- day of IT __ mm_ ww� 2024. � � �� tk�i� Stimson, �i �� , ��' � � Clerk/Treasurer (Attach here the publisher's original affidavit with clipping of the notice, as published.) -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA �� ► �� , ► i ► On Behalf of: Ad No 64807 CITY OF FAIRFAX PO BOX 337 FAIRFAX, IA52228 UNITED STATES STATE OF IOWA COUNTIES OF LINN AND JOHNSON: Before the undersigned authority personally appeared said legal clerk, who on oath says that he or she is a Legal Advertising Representative of the THE GAZETTE, a daily newspaper published in Linn and Johnson County, lowa that the digital copy of advertisement, being a Legal Ad in the matter of Legals - NPH - Equipment Acquisition Lease as published in The Gazette in the issue(s) of: 0413012024 Affiant further says that the said THE GAZETTE is a newspaper in said Linn and Johnson County, lowa and that the said newspaper has heretofore been continuously published in said Linn and Johnson County, lowa each day and has been entered as periodicals matter at the post office in CEDAR RAPIDS in said Linn County, lowa, for a period of one year next preceding the first publication of the digital copy of advertisement; and affiant further says that he or she has never paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Sworn to and Subscribed before me by legal clerk who is personally known to me � � �illl� � ��, '' u II II Mwi i u� l. ;� �* ��"�r°�.,.��'#2_,.� �..��r��"�r^.Wf �,,,�� JOANN LYNETTE DODSON �� Commission Number 846181 ' �� My Commission Enpires February 21, 2026 Publication Cost: $28.96 Customer No: 103163 The GAZETTE Classifieds, It Works for YOU! Tuestlay, April 30, 2024 • The Gazette 7B �� l)l�a� If�rc �/116/rf��%% i%�� i '�� f�% ��n3 / L�'�� rll��° u �� I�l�y� '�� o�o v;:, �