HomeMy WebLinkAbout2009-54 SET PUBLIC HEARING GO LOAN AND DISBURSEMENT AGREEMENT RESOLUTION NO. 2009-54
TO FIX A DATE FOR A PUBLIC HEARING ON A GENERAL
OBLIGATION WATER IMPROVEMENT LOAN AND DISBURSEMENT
AGREEMENT PROJECT
WHEREAS, the City of Fairfax (the "City"), in the County of Linn, State of Iowa,
proposes to enter into a General Obligation Water Improvement Loan and Disbursement
Agreement (the "Agreement") in a principal amount not to exceed $350,000 pursuant to the
provisions of Section 384.24A of the Code of Iowa for the purpose of paying the cost, to that
extent, of constructing improvements and extensions to the Municipal Waterworks System, and
it is necessary to fix a date of meeting of the City Council (the "Council") at which it is proposed
to take action to enter into the 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:
Section 1. This Council shall meet on the 10th day of November, 2009, at the city
hall, in the City, at 6:00 o'clock p.m., at which time and place a hearing will be held and
proceedings will be instituted and action taken to enter into the Agreement.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the 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 four nor more than twenty
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:
NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS TO BORROW MONEY AND ENTER INTO A LOAN AND
DISBURSEMENT AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $350,000
(GENERAL OBLIGATION)
The City Council of the City of Fairfax, Iowa, will meet on the 10th day of November,
2009, at the city hall, in the City, at 7:00 o'clock p.m., for the purpose of instituting proceedings
and taking action to enter into a loan and disbursement agreement (the "Agreement") and borrow
money in a principal amount not to exceed $350,000 for the purpose of paying the cost, to that
extent, of constructing improvements and extensions to the Municipal Waterworks System.
The Agreement will constitute a general obligation of the City and is proposed to be
entered into pursuant to authority contained in Section 384.24A of the Code of Iowa.
At the aforementioned time and place, oral or written objections may be filed or made to
the proposal to enter into the Agreement. After receiving objections, the City may determine to
enter into the 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.
Cynthia Stimson
City Clerk
Section 3. All resolutions or parts of resolutions in conflict herewith be and the same
are hereby repealed to the extent of such conflict.
Passed and approved October 27, 2009.
Ayes: Beer, Frieden, Rabe, Magers, and Wainwright
Nays: None.
Absent: None.
Mayor
Attest:
City Clerk