HomeMy WebLinkAboutRESOLUTION NO. 2011-17
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Fairfax/419915-16/ 2 ½ Hrg
MINUTES TO HOLD HEARING ON
LOAN AGREEMENT
419915-16
Fairfax, Iowa
March 8, 2011
The City Council of the City of Fairfax, Iowa, met on March 8, 2011, 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 being called, the following
named Council Members were present and absent:
Present: Beer, Frieden, Otto, and Wainwright.
Absent: Magers.
The Council investigated and found that a notice of intention to institute proceedings to
enter into a loan agreement in an amount not to exceed $550,000 for the purpose of paying the
costs of constructing improvements to the Municipal Waterworks System had been duly
published as provided by law and that this is the time and place at which the Council shall
receive oral or written objections from any resident or property owner of the City. The City
Clerk announced that no written objections had been previously filed; the Mayor called for any
oral or written objections from any resident or property owner of the City and, there being none,
the Mayor closed the hearing.
After due consideration and discussion, Council Member Otto introduced the resolution
next hereinafter set out and moved its adoption, seconded by Council Member Frieden. The
Mayor put the question upon the adoption of said resolution, and the roll being called, the
following Council Members voted:
Ayes: Beer, Frieden, Otto, and Wainwright
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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Fairfax/419915-16/ 2 ½ Hrg
RESOLUTION NO. 2011-17
AUTHORIZING A GENERAL OBLIGATION LOAN AGREEMENT AND
GENERAL OBLIGATION WATER IMPROVEMENT BONDS IN AN
AMOUNT NOT TO EXCEED $550,000
WHEREAS, the City of Fairfax (the “City”), in Linn County, State of Iowa, has
heretofore proposed to enter into a General Obligation Water Improvement Loan Agreement (the
“Loan Agreement”) in a principal amount not to exceed $550,000 pursuant to the provisions of
Section 384.24A of the Code of Iowa for the purpose of paying the costs, to that extent, of
constructing improvements to the Municipal Waterworks System, and has published notice of
the proposed action and has held a hearing thereon on March 8, 2011; and
WHEREAS, the City intends to enter into the Loan Agreement and to issue General
Obligation Water Improvement Bonds (the “Bonds”) in the future;
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 the Bonds 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 or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved March 8, 2011.
Jason Rabe, Mayor
Attest:
Cynthia Stimson, City Clerk/Treasurer
• • • •
On motion and vote, the meeting adjourned.
Jason Rabe, Mayor
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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Fairfax/419915-16/ 2 ½ Hrg
Attest:
Cynthia Stimson, City Clerk/Treasurer
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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Fairfax/419915-16/ 2 ½ Hrg
STATE OF IOWA
COUNTY OF LINN SS:
CITY OF FAIRFAX
I, the undersigned, City Clerk/Treasurer of the City of Fairfax, do hereby certify that as
such I have in my possession or have access to the complete corporate records of the City and of
its Council and officers and that I have carefully compared the transcript hereto attached with
those corporate records and that the transcript hereto attached is a true, correct and complete
copy of all the corporate records in relation to the authorization of a loan agreement and
authorization of the issuance of not to exceed $550,000 General Obligation Water Improvement
Bonds of the City and that the transcript hereto attached contains a true, correct and complete
statement of all the measures adopted and proceedings, acts and things had, done and performed
up to the present time with respect thereto.
I further certify that no appeal has been taken to the District Court from the decision of
the City Council to issue such bonds.
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WITNESS MY HAND this 9 day of March, 2011.
Cynthia Stimson, City Clerk/Treasurer
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
March 4, 2011
Cynthia Stimson
City Clerk/City Hall
PO Box 337
Fairfax, Iowa 52228-0337
Re: General Obligation Water Improvement Loan Agreement Hearing
Our File No. 419915-16
Dear Cynthia:
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We have prepared and enclose proceedings to be used at the March 8 Council meeting
covering the hearing on the proposed G.O. Water Improvement Loan Agreement.
The proceedings enclosed include the following items:
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1. Minutes of the March 8 Council meeting covering the hearing. The minutes as
drafted assume that no objections will be filed or made to the Loan Agreement.
2. Resolution expressing intent to enter into the Loan Agreement in the future.
3. Certificate attesting the transcript.
As these proceedings are completed, please return one fully executed copy to our office,
and contact me if you have questions.
Very truly yours,
Robert E. Josten
Enclosures
cc by email: Maggie Burger