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Home My WebLink AboutRESOLUTION NO. 2008-18 - Debt Hearing Fairfax/419915/1"'/z GO LA MINUTES TO SET DATE FOR HEARING - ON ENTERING INTO A LOAN AGREEMENT Fop, YOUR RECORDS 419915 (NII) - GENERAL OBLIGATION Fairfax, Iowa February 20,2008 The City Council of the City of Fairfax, Iowa, met on February 20, 2008, at o'clock .m., at the 14 Y I (� , in the City. The Mayor presided and the roll was called sl lowing the following members of the City Council present and absent: r Present: c(;`� Absent: ' ,` Council Member, introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member .),, ) _ , and after due consideration thereof by the City Council, the Mayor put the question upon the adoption of the said resolution and the roll being called, the following named Council Members voted: pp #r Nays: IL 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: City Clerk -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fa rfbx/419915/ln'/z GO LA RESOLUTION NO. Resolution to fix a date for a public hearing on a loan agreement in a principal amount not to exceed$800,000 WHEREAS, the City of Fairfax (the "City"), in Linn County, State of Iowa, proposes to enter into a General Obligation Loan Agreement (the "Loan Agreement") in a principal amount not to exceed $800,000 pursuant to the provisions of Section 284.24A of the Code of Iowa for the purpose of paying the cost, to that extent, of refunding the City's outstanding General Obligation Corporate Purpose Notes, Series 2001, 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 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 Fairfax, Iowa.., as follows: SectXon 1. The City Council shall meet on the Illth day of March 2008 at the I kk ' , Fairfax, Iowa, ato'clock m., at which time and place a hearing will be held and proceedings will be instituted and fon taken to enter into the Loan Agreement. 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 and not less than 4 nor more than 201 days before the 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 Faiffax/419915/1'`1/GO LA NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $800,000 (GENERAL OBLIGATION) The City Council of the City of Fairfax, Iowa, will meet on the I Ith day of March, 2008, at the .v , Fairfax, Iowa, at J o'clock in., for the purpose of instituting proceedings and taking action to enter into a loan agreement (the "Loan. Agreement'') in a principal amount not to exceed$800,000 for the purpose of paying the cost, to that extent, of refunding the City's outstanding General Obligation Corporate Purpose Notes, Series 2001. 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 that 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 runless appealed to the District Court within fifteen(15) days thereafter. By order of the City Council of the City of Fairfax, Iowa. Vickie Kindl City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMS,IOWA i i I Fairfax/419915/1 '/z GO LA Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved February 20, 2008. Mayor Attest: T i I City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax/419915/1� 1/2 GO LA STATE OF IOWA LINN COUNTY 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 fixing a date for a hearing on the City Council's proposal to take action in connection with a loan agreement, as referred to therein, WITNESS MY HAND and the seal of the City hereto affixed this _ day of 2008. City Clerk (Seal) I I ' i { i I ' -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES, IOWA � Jil Fair ax/419915/1"%GO LA STATE OF IOWA COUNTY OF LINK SS: CITY OF FAIRFAX I, the undersigned City Clerk, do hereby certify 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 such City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within 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: 4 1\ �; u =,� Mayor ' City Clerk Finance Administrator/Treasurer Council Member Council Member Council Member Council Member °'jk Council Member Mayor Pro-Tem And I do further certify that the City has provided for the office of Treasurer, and the Council has selected the Treasurer aforementioned. WITNESS MY HAND and the seal of the City hereto affixed this > day of 2008. t City Clerk (Seal) -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax/419915/1"I/,GO LA (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.) STATE OF IOWA LINN COUNTY 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 faxing a date of meeting at which it is proposed to take action to enter into a loan agreement, the notice, of which the printed slip attached to the publishers 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 `> L 2008. City Cleric (Seal) Attach here the publisher's original affidavit with clipping of the notice, as published.) _7_ DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,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 prmi ted copy of which is attached, was inserted and published in THE GAZETTE newspaper in the issue(s) of 2/2 /O8 RWME OF PROPRSMACT141J T01K$T1TVTE PROCEEbfN,GS TU ENTER tNT.O LOAN AGREEMEt4T tni The reasonable fee for publishing said notice is A PRINCtPAI AMOUNT NOT �+ TO EXCEED WO 000 P16.8 iGE1dER L 4BLIGAT1CiMt The,CRY.COUN.31 oaf the Cliv of Faf fax tpwa, '. "Witt3neet an the 111h day of March 201)8 at the Clty Hall Fairfax loY}a at 2:00 o'clocla;'ANt i0r 1Vnepurpose eC.lnsti3uling iproceedings anr� i taking;ac#Ion to ehfer Into a loan asreetnent Uhe"meati AsreerenT'!in aprinclpata0unt � not to exceed$B0000 for the;purpose of p.ow. ung Rhe�os1 to that extent of refundlng the e kA C1tY s gtstandl ,eerat�bllgattan Carpo rhe^t'urpoae Notes aetles 201 The Loam Agreement N proposed to 6e entered Into puru.ent R'o authority a�7lltai�aed In 5ectlnn- 284 2dAf the Coif of 19wa orad wdl constllute a sural ahhgettn of The Clfiv R at 411 an.. ate,oral or written q}ittic 11on rnav be filed.;or made to the proposal 10 el�ter Into the Loan:A9reamet it.AtDEr reoking e}AteC111FItai the C1t=r msY datesrnina to;anter , la�lo the:Laan Agreement,in(;which case,the dartslem wlii he Iftl onlesc appealed t9 the z �?IsfirtctCourt withtn fiiHeen(151 dans lheTeaf- ter a order of the city C0uncli at the Q.Y 0f This instrument was acknowledged by Dave Storey Fatlr%x Iowa apt kte lTndl before me on 3/4/0$ C1ty.Clerk f Notary Pilblic in a d for,the Sta e of Iowa Ra s ,lrt0Y N'O T� WMM1 1101 NUMUR 744301 Y . . Ph1N11 s 1t �1n � S: low",