HomeMy WebLinkAboutRESOLUTION NO. 2008-21 - ACTION TO ENTER INTO A LOAN AGREEMENT $800,000 Fairfax/4199 15-1 V2"1/z Hrg Only
419915-11 Loan Agreement Hearing}
FOR
RECORO YOUR - . Fairfax, Iowa
March 11, 2008
The City Council of the City of Fairfax, Iowa, met on March 11, 2008, at 7:00 o'clock
p.m., at the City Hall, 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:
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Present:
Absent:
This being the time and place specified for taking action on the proposal to enter into a.
refunding loan agreement, the City Clerk announced that no written objections had been placed ,
on file. Whereupon, the Mayor, called for any written or oral objections, and there being none, i
the Mayor closed the public hearing.
After due consideration and discussion, Council Member (;(t(j,
introduced the following resolution and moved its adoption, seconded by Council Member
The Mayor put the question upon the adoption of said
resolution, and the roll being called, the following Council Members voted:
Ayes �' ( = ( '_ Y t °, G, ''. ;3 c,
Nays: k- '1"--,..s(,
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
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Attest:
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City Clerk
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DORSEY&WEI" NEY LLP,ATTORNEYS,DES MOINES,IOWA
Fairfax/419915-11/2"'V.Hrg Only
RESOLUTION NO A':( �?: J-
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 (the "City"), in the County of Linn, State of Iowa has heretofore proposed to contract
indebtedness and enter into a General Obligation Refunding Loan Agreement (the "Loran
Agreement"} in the 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 Note's,
Series 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 Refunding 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 full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved March 11,2008.
Mayor
.Attest:
Cif Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES, IOWA
Fairfax/419915-11/2" Hrg Only
STATE OF IOWA
COUNTY OF LINN 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$800,000,
WITNESS MY HAND and the seal of the City hereto affixed this t day of
2008.
C ty Clerk
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Seal)
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA