HomeMy WebLinkAboutRESOLUTION NO. 2012-20 Fairfax/419915-18/15[11/2 GO LA
MINUTES TO SET DATE FOR HEARING
ON ENTERING INTO A GENERAL
OBLIGATION LOAN AGREEMENT
419915-18
Fairfax, Iowa
April 10, 2012
The City Council of the City of Fairfax, Iowa, met on April 10, 2012, at 7:00 o'clock
p.m., at the city hall at 525 Vanderbilt Street, in the City. 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 Frieden introduced the resolution hereinafter next set out related to
borrowing funds for acquisition of a fire truck and refunding the outstanding balance of the
City's General Obligation Sewer Improvement Notes, Series 2004, and moved its adoption,
seconded by Council Member Otto; 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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RESOLUTION NO. 2012-20
Resolution to fix a date for a public hearing on a loan agreement in a
principal amount not to exceed $650,000
WHEREAS, the City of Fairfax (the "City"), in Linn County, State of Iowa, previously
issued its General Obligation Sewer Improvement Notes, Series 2004 in the principal amount of
$700,000, a portion of which remain outstanding (the "Series 2004 Notes"); and
WHEREAS, pursuant to the resolution authorizing the issuance of the Series 2004 Notes
(the "Series 2004 Note Resolution"), the City reserved the right to call for redemption prior to
maturity any or all of the Series 2004 Notes maturing in each of the years 2013 to 2020, on June
1, 2012 or any date thereafter (the "Callable 2004 Notes"); and
WHEREAS, the City proposes to enter into a General Obligation Loan Agreement (the
"Loan Agreement") in a principal amount not to exceed $650,000, pursuant to the provisions of
Section 384.24A of the Code of Iowa, for the purpose of paying the costs, to that extent, of
acquiring a fire truck and refunding the Callable 2004 Notes, and it is necessary to fix a date of
meeting of the City Council at which it is proposed to take action to enter into the Loan
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. The City Council shall meet on the 81h day of May, 2012, at the city hall at
525 Vanderbilt Street, Fairfax, Iowa, at 7:00 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 Loan Agreement.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the Loan 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 4 nor more than
20 days before the date of said meeting, in a legal newspaper which has a general circulation in
the City. The notice shall be in substantially the following form:
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NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO
ENTER INTO A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO
EXCEED $650,000
(GENERAL OBLIGATION)
The City Council of the City of Fairfax, Iowa, will meet on the 8th day of May, 2012, at
the city hall at 525 Vanderbilt Street, Fairfax, Iowa, at 7:00 o'clock p.m., for the purpose of
instituting proceedings and taking action to enter into a loan agreement (the "Loan Agreement")
in a principal amount not to exceed $650,000 for the purpose of paying the costs, to that extent,
of acquiring a fire truck and refunding the outstanding balance of the City's General Obligation
Sewer Improvement Notes, Series 2004.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 384.24A of the Code of Iowa and will constitute a general obligation of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Loan Agreement. After receiving objections, the City may determine to enter into
the Loan 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
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Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved April 10, 2012.
Jason Rabe, Mayor
Attest:
Cynthia Stimson, City Clerk/Treasurer
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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 fixing a date
for a hearing on the City Council's proposal to take action in connection with a loan agreement,
as referred to therein.
WITNESS MY HAND this 1 lth day of April, 2012.
Cynthia Stimson, City Clerk/Treasurer
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STATE OF IOWA
COUNTY OF LINN SS:
CITY OF FAIRFAX
I, the undersigned City Clerk, do hereby certify that the City of Fairfax is organized and
operating under the provisions of Title IX of the Code of Iowa and not under any special charter
and that the City is operating under the Mayor-Council form of government and that there is not
pending or threatened any question or litigation whatsoever touching the incorporation of the
City, the inclusion of any territory within its limits or the incumbency in office of any of the
officials hereinafter named.
And I do further certify that the following named parties are officials of the City as
indicated:
Jason Rabe, Mayor
Cynthia Stimson, City Clerk/Treasurer
Cynthia Stimson, Finance Officer
Marianne Wainwright, Council Member/Mayor Pro-Tem
JoAnn Beer, Council Member
Bernie Frieden, Council Member
Marc Magers, Council Member
Travis Otto, Council Member
WITNESS MY HAND this 1 lth day of April, 2012.
Cynthia Stimson, City Clerk/Treasurer
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STATE OF IOWA
COUNTY OF LINN SS:
CITY OF FAIRFAX
I, the undersigned, City Clerk of the City of Fairfax, do hereby certify that pursuant to the
resolution of the City Council fixing a date of meeting at which it is proposed to take action to
enter into a loan agreement, the notice, of which the printed slip attached to the publisher's
affidavit hereto attached is a true and complete copy, was published on the date and in the
newspaper specified in such affidavit, which newspaper has a general circulation in the City.
WITNESS MY HAND this day of 2012.
City Clerk
(Attach here the publisher's original affidavit with clipping of the notice, as published.)
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DORSEY&WHITNEY LLP,ATTORNEYS,DBS MOINES,IOWA
April 4, 2012
Cynthia Stimson
City Clerk/City Hall
PO Box 337
Fairfax, Iowa 52228-0337
Re: $650,000 General Obligation Fire Truck and Refunding Loan Agreement
Our File No. 419915-18
Dear Cynthia:
Based on information we received from Maggie Burger, we have prepared and enclose
proceedings to be used at your City Council meeting on April 10 to set May 8"' as the date for a hearing
on the proposal to enter into the General Obligation Fire Truck and Refunding Loan Agreement.
The documents enclosed include the following items:
1. Resolution fixing the date, time and place of the meeting at which it is proposed to hold a
hearing and take action to enter into the Loan Agreement.
The form of notice of hearing is set out in Section 2 of the resolution, and an extra copy is
enclosed for delivery to the publisher. Please insert the time and place of the hearing in both the
resolution and the notice.
2. Certificate attesting the transcript.
3. Organization Certificate.
4. Certificate with respect to publication of the notice, to which must be attached the publisher's
affidavit of publication with a clipping of the notice as published.
The notice must be published at least once not less than 4 nor more than 20 days before the
meeting date set for the hearing, in a legal newspaper which has a general circulation in Fairfax. Please
fax a copy of the published notice to our office at(515)283-1060.
As soon as possible after the City Council meeting,please return one fully executed copy of all of
the completed pages in these proceedings.
If you have any questions,please contact me.
Very truly yours,
Robert E. Josten
Enclosures
cc by email: Maggie Burger