HomeMy WebLinkAboutRESOLUTION NO. 2008-03 - LOAN AGREEMENT Fairfax/419915-1012"V.GO Rfdg.Hrg Only
419915-10 (Refunding Loan Agreement
Hearing)
FOR YOUR I.- :CO R Wax, Iowa
February 5, 2008
The City Council of the City, of Fairfax, Iowa, met on February 5, 2008, at
o'clock`i.m., at the ;`� '. ,Fairfax, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following members of the City Council present and absent:
Present:
Absent:
This being the time and place specified for taking action on the proposal to enter into a
loan agreement, the City Clerk announced that no written objections had been placed on falc.
Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor
closed the public hearing,
After due consideration and discussion, Council Member introduced the the following resolution and moved its adoption, seconded by Council Member
;_: k ..."" The Mayor put the question upon the adoption of said.
resolution, and the roll being called,the following Council Members voted:
-71
. �..
Ayes:
Nays: `
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,
Mayor
Attest:
i
City Clerk'
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
FairPax/419915-10/2nd V.GO Rfdg.Hrg Only
RESOLUTION NO. J U Jh- s.
Resolution taking additional action to enter into a Loan Agreement
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
of Fairfax, in the County of Linn, State of Iowa (hereinafter referred to as the "City") has
heretofore proposed to contract indebtedness and enter into a loan agreement (the "Loan
Agreement") in the principal amount of $350,000, for the purpose of paying the cost, to that
extent, of refunding the City's outstanding General Obligation Water Notes, dated October, 1,
2001, and has published notice of the proposed action and has held a hearing thereon;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Fairfax, Iowa, as
follows:
Section 1, The City Council hereby determines to enter into the Loan Agreement in
the future and orders that General Obligation bonds or notes be issued in evidence thereof. The
City Council further declares that this resolution constitutes the "additional action" required by
Section 384.24A of the Code of Iowa.
Section 2. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
Section 3, This resolution shall be in frill force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved February 5, 2008.
Mayor
Attest:
i.
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Q"airfaV419915-10/2"V7 GO RE'ag.Hrg Only
STATE OF IOWA
COUNTY OF LINK SS:
CITY OF FAIRFAX
I, the undersigned, City Clerk of the City of Fairfax, do hereby certify that attached
hereto is a true and correct copy of the proceedings of the City Council relating to the hearing on
the City Council's intention to enter into a Loan Agreement in the principal amount of$3507000.
WITNESS MY HAND and the seal of the City hereto affixed this day of
' t 2005.
' d
City Clerk
(Seal)
i
i
1
I
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMS,IOWA
STATE OF IOWA
Counties of Linn and Johnson ss.
I, Dave Storey, do state that I am the publisher of
THE GAZETTE, a daily newspaper of general
circulation in Linn and Johnson Counties, in Iowa.
The notice, a printed copy of which is attached, was
inserted and published in THE GAZETTE newspaper
in the issue(s) of 1/18/08
The reasonable fee foz publishing said notice is
NOTICE OF 04OPOsEI�'AICTION TO
lu STMJT�Pt�OMEO1NGs TO
$16.S 1
fh! LOAN
AMRLEENT NOT'fN'A i
I
EXCE1`O$850,400
(GEt+tIrT3P,1 OBLIIGATCotf
The City council of the ON'.f F0lriax,..10W%
WP'l rnaet dh the 5th d4V of F.ebrtl.AM 2048,fcivcic a,
the�ttl''Hail, 1^aliax, lvwa; ai 5z30 o
pnro for the
and iaknB actl.on too oenf lAn Into
0 pr0ceedln®s
a lean agree
rneaxt'tihe"Lean Agreement') M. a prfi�dPal '
60'6d6tn61to exceed 050,OOq for the purpose
0t
thpayfag the y�si,'io that extent a€reti;tnding
e Cat `s vulstanding General Oblleation wvP
ler Motes dated O:ctobar t,200T.
'''he LWn Aareemant s propdsed to be entered
Into pursuant iv a�thorliy cvrVlalnod In$ecftvn
a492,4A ofthe Cade of loWa and wi,l W.W.1iute
a genre nhligaflon of the c.1tY ;
Al,,he sfb"tT)entlrimd time a3nd glace ora1.6 r
wacltrten obteciivns i iay be filed yr made;to the
proposal to enter-':into the Loan Agreemen,
Alter"ree-4iYing ob%ections,the CI,Y may,ztater
urptnefp enter ini.dLo
the an Apreemen3 In This instrament was aclulowledged by Dave Storey
whlch case, the iiectston will be Vnal Wjless
appealed io the otstrlot Court wrthin fiiietsn before me on 1/24/08
175t days thereafter
n Y or3er n,the zitY council of the Cl of-.
falrtax,Iowa.
`hJ&ie lndl n�
CpiY clerk f
f�x¢bi,shed in The„Gazette lanuarY 16,X4OB:
Notary ublic in and for the State of Iowa
_ � lti�yt il` R JI
NUMB 0174.4 o 1