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Home My WebLink AboutRESOLUTION NO. 2005-32 Fairfax/419935-8/1"'/,GO LA-Use of excess proceeds MINUTES TO SET DATE FOR HEARING ON LOAN AGREEMENT 419915- , Fairfax,Iowa August 15, 2005 The Council of the City Qf Fairfax,hwa, met in a special session on August 15, 200f 5, at o'clock P.m., at the Cif y tral[ , in the City. The Mayor presided and the roll was called showing the followingCoouncil Members present and absent: Present: S1 CL e Absent: b Council Member introduced the resolution hereinafter next set out and the sa'd Council Member moved its adoption„ seconded by Council ember I ; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted: Ayes: °— s�3 ' Nays: C-1/ Whereupon, the Mayor,declared the said resolution duly adopted, as hereinafter set out,. -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax/419915-8/1"'h Go LA-Use of excess proceeds RESOLUTION Resolution to fix a date of meeting at which it is proposed to take action to enter into a loan agreement in a principal amount not to exceed.$105,000 WHEREAS, the City of Fairfax, Iowa (the "City"), proposes to use approximately $105,000 of the proceeds left over from the City's $1,185,000 General Obligation Corporate Purpose Notes, Series 2001 (the "2001 Notes"), dated June 1,, 2001, from the City's $450,000 General Obligation Water Notes (the "2001A Notes"), dated October 1, 2001, and from the City's $465,000 General Obligation Corporate Purpose Notes (the "2003 Notes"), dated March 1, 2003 (collectively, hereinafter the 2001 Notes, the 2001A Notes and the 2003 Notes shall be referred to as the "Original Nates") for the purpose of paying the cost of certain sanitary sewer improvements in the City (the "Additional Purpose"), which items were not included in the purposes for which the Original Notes were issued, and it is necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into a loan agreement (the "]Goan .Agreement") in a principal amount not to exceed $105,000 pursuant to the provisions of 'Section 384.24A of the Code of Iowa for the Additional Purpose. NOW, THEREFORE, It Is Resolved, by the Council of the City of Fairfax, Iowa, as follows: Section 1, This Council shall meet on the 13th day of September, 2005, at the Council Chambers, City Hall, Fairfax, Iowa, at o'clock ;Q_.m., at which time and place proceedings will be instituted and action taken to enter into tlLoan Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed action to enter into 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, and not less than 4 nor more than 20 days before the meeting, in a legal newspaper published at least once weekly, and of general circulation in the City. The notice shall be in substantially the following form: -2- DOI SIEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax/419915-8/1'%GO LA-Use of excess Proceeds NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT (GENERAL OBLIGATION) The City Council of the City of Fairfax, Iowa, will meet on the 13th day of September, 2005, at the Council Chambers, City Hall, in the City, at 5 o'clocko m., for the purpose of instituting proceedings and taking action to enter into a loan 1greement (the "Loan Agreement") in a principal amount not to exceed $105,000 for the purpose of paying the cost, of sanitary sewer improvements in the City. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. At the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City may determine to enter into the Loan Agreement, 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. Connie Frame City Clerk -3- DORSEY WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax/419915-8/1°j'A GO LA-Use of excess pToceeds Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved Anr,gust 15. 2005. Mayor Attest: City Clerk -4- DOIRSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairrax/419915-8/1g'1/2 GO LA-Use of excess proceeds STATE OF IOWA COUNTY OF LINN S S: CITY OF FAIRFAX 1, the undersigned, Clerk of the aforementioned City, do hereby certify that attached hereto is a true and correct copy of the proceedings of the City Council of the City relating to the fixing of a date for taking additional action to enter into a certain Loan Agreement. WITNESS MY HAND and the seal of the City hereto affixed this day of 2005 Tj Ld1 City Clerk (Seal) -5- DOR:SEY&WHITNEY LLP,ATTORNEYS,DES I'OMES,IOWA Fairfax/419915-8/1"''A GO LA-Use of excess Proceeds (Please do not sign and date this certificate until you have checked a copy of the published notice and have verified that it was published on the date indicated in the publisher's affidavit.) STATE OF IOWA COUNTY OF LINK SS: CITY OF FAIRFAX I, the undersigned, Clerk of the aforementioned City, do hereby certify that pursuant to the resolution of its City Council fixing a date of meeting at which it is proposed to take action to enter into a certain Loan Agreement, the notice, of which the printed slip attached to the publisher's affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City. WITNESS MY HAND and the seal of the City hereto affixed this � day of 2005 11 \ City Clerk Seal) Attach here publisher's original affidavit with a clipping of the notice as published.) -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA STATE OF IOWA Counties of Linn and Johnson ss. CITY OF FAIRFAX NOTICE OF PUBLIC HEARING NOTICE OF PROPOSED ACTION TO INSTt- TUTS PROCEEDINGS.TO ENTER INTO A i LOAN AGREEMENT IN A PRINCIPAL` ,I AMOUNT.NOT TO EXCEED$105,000 f (GENThe C"Y Co OBLIGATION) I Joe Hladky being duly sworn on oath, do state that I am _ The Cfy Council of the City of Fairfax,Iowa,i , , r will meet on the 13th day of Sep#ember,2005,' I at the Ccunc'I1Chambers,City Hall,In the city, the publisher of THE GAZETTE, a. daily newspaper of o at 7 o'clock pm,,for the purpose of instituting * proceedings and twins action to enter into a general circulation in Linn and Johnson Counties, Iowa. The I loan agreernant(ihe"Loan Agreement")in a g principals amount not to exceed$105,000 for the II purpose of paying the cost,of sanitary sewer notice, a printed copy of which IS attached, was inserted and Improvements In the City. The Loan Agreement is proposed to be entered published In THE GAZETTE newspaper in the issue(s) of Into pursuant to authority contained In Section' - 384.24A of the Code of Iowa and will constitute S a general obllgation of the.City. e At the aforementioned time and place,oral or .t written objections may be filed or made to the proposai to enter Into the Loan Agreement,' 20 �5, After receiving objections,the CRY may deter- ' mine to enter Into the Loan Agreement, In; which case, the decision will be final unless; The reasonable fee for publishing said notice is $ 14.86 appealed to the District Court within fifteen (15) days thereafter. By order of the City Council of the City of Fairfax, dowa. Connie Frame,City Clerk Published In the Gazette onAugust24,2005 A•t- Signed and sworn to be ore me o Aug. 31 20 05 . by Joe IHladky, Not Public in a for the State of Iowa Received payment for above from , 20 GAZETTE COMMUNICATIONS, INC. By j&W GIIGLIO conwweelooi WJWFFt 123956 • • MY COMMISSION EXPIRES ow FEBRUARY' '16t 2006 August 4, 2005 Connie Frame City Clerk/City Hall 525 Vanderbilt Street Fairfax, Iowa 52228-0337 Re: Fairfax, Iowa $105,000 General Obligation Sewer Improvement Loan Agreement Our File No. 419915-8 Dear Connie: Based upon information provided by Larry Burger, we have prepared and enclose proceedings to enable your City Council set September 13 as the date for the hearing on the General Obligation Sewer Improvement Loan Agreement. These proceedings are necessary in order for the City to have the authority to use available proceeds from previous general obligations note issues for the sanitary sewer improvements. The proceedings enclosed include the following items: 1. Resolution to fix the time and place for the hearing on the Loan Agreement. The form of notice of Incaring is set out under Section 2 of the resolution, and an extra copy is enclosed for delivery to the newspaper. Please insert the time of the hearing in both the resolution and the notice. 2. Certificate attesting the transcript. 3. Certificate with respect to publication of the notice, to which must be attached the publisher's affidavit of publication with a clipping of the notice as published. The notice must be published at least once, not less than 4 nor more than 20 days before the meeting date set for the hearing, in a legal newspaper located of general circulation in the City. As soon as the notice appears in the newspaper, please have a copy faxed to our office (515-283-1060). Page 2 Please call John Danos or me with questions. Very truly yours, Robert E. Josten Enclosures cc. Larry Burger