HomeMy WebLinkAboutRESOLUTION NO. 2008-48 - LOAN AGREEMENT $1,000,000 Fanrfax/414915-1212"d'/Hrg Only
419915-12 (Loan Agreement Hearing)
FO R YO U R R E C 0 R,'� S-)3 Fairfax, Iowa
October 14, 2008
The City Council of the City of Fairfax, Iowa, met on October 14, 2008, at 7:00 o'clock
pi.m., at the City Hall, Fairfax, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
fallowing members of the City Council present and absent: i
Present: .: i,r t lab
t-
1-1-➢ r
This being the time and place specified for taking action on the proposal to enter into a
loan agreement related to constructing street, water, storm sewer and drainage improvements, 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, the Mayor closed the public
hearing.
After due consideration and. discussion, Cotmcil Member
in uce the following resolution and moved its adoption, seconded b Council Member
' The Mayor put the question upon the adoption of said
resolution, and the roll being called,the following Council Members voted:
Ayes: -
s �
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:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES„IOWA
F"airfax1419915-12/2"d%Hrg Only
RESOLUTION NO.c .0.-
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 loan agreement (the "Loan Agreement") in a principal amount not
to exceed $1,000,000, for the purpose of paying the cost, to that extent, of constructing street„
water, storm sewer and drainage improvements, 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 at such
time as it is determined to be necessary. 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 October 14, 2008.
ayor
Attest:
7
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,,IOWA
Ea rfax1419915-12/2"d 1/2 Hrg Only
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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 a principal amount not to exceed
I,000,000.
`°'� '` 4 , 2008.
WITNESS MY HAND this day of ,
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City Clerk
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DORSEY b` W14ITNEY LLP,ATTORNEYS,DES MOINES,IOWA