HomeMy WebLinkAboutRESOLUTION NO. 2012-01 Fairfax/419915/Auth Compliance Policy
MINUTES FOR ADOPTION OF COMPLIANCE
PROCEDURES
419915
Fairfax, Iowa
January 10, 2012
The City Council of the City of Fairfax, Iowa, met on January 10, 2012, at 7:00 o'clock p.m. at
the Fairfax city hall, at 525 Vanderbilt, Street, Fairfax, Iowa. The Mayor presided and the roll was
called showing the following members of the City Council present and absent:
Present: JoAnn Beer, Bernie Frieden, Travis Otto, Marc Magers, and Marianne Wainwright
Absent: None.
Council Member Magers introduced the resolution hereinafter next set out and moved its
adoption, seconded by Council Member Frieden; 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:
Ayes: Beer, Frieden, Otto, Magers, and Wainwright
Nays: None.
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.
Jason Rabe, Mayor
Attest:
Cynthia Stimson, City Clerk/Treasurer
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Fairfax/419915/Auth Compliance Policy
RESOLUTION NO. 2012-01
RESOLUTION ADOPTING AND APPROVING
TAX COMPLIANCE PROCEDURES
RELATING TO TAX-EXEMPT BONDS
WHEREAS, pursuant to the laws of the State of Iowa and Section 103 of the Internal Revenue
Code, the City of Fairfax, Iowa (the "City"), acting by and through the authority of its City Council,
has issued, and likely will issue in the future, tax exempt municipal bonds, notes or other obligations
(the "Tax Exempt Bonds"); and
WHEREAS, the City deems it necessary and desirable to adopt certain procedures and
practices to be followed by the City in connection with the issuance of Tax Exempt Bonds; and
WHEREAS, proposed tax compliance procedures are attached hereto as Exhibit A (the
"Compliance Procedures");
NOW, THEREFORE, Be It Resolved by the City Council of the City of Fairfax, Iowa, as
follows:
Section 1. The Compliance Procedures attached hereto as Exhibit A are hereby adopted
and shall be dated as of the date hereof.
Section 2. The City Clerk/Treasurer is hereby authorized and directed to periodically
update the Compliance Procedures in accordance with the Internal Revenue Code and supporting
Internal Revenue Service Rulings and Regulations, with advice from bond counsel.
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved January 10, 2012.
Jason Rabe, Mayor
Attest:
Cynthia Stimson, City Clerk/Treasurer
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Fairfax/419915/Auth Compliance Policy
STATE OF IOWA
COUNTY OF LINN SS:
CITY OF FAIRFAX
I, the undersigned, City Clerk of the City of Fairfax, Iowa, do hereby certify that attached
hereto is a true and correct copy of the proceedings of the City Council relating to the adoption of a
compliance policy with regard to the issuance of tax exempt bonds.
WITNESS MY HAND this 1 lth day of January, 2012.
Cynthia Stimson, City Clerk/Treasurer
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