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Home My WebLink AboutRESOLUTION NO. 2015-30 Faarfax419915-21/Setffmgs W LA SET DATE FOR. 11EAR,1,NGS ON 2015. ' GENERAL OBLIGATION LOAN AGREEMENTS Q. 01j- 41.9915-21 Fairfax, lova April 14, 2015 The City Council of the City of Fairfax, Iowa, met on April 14, 2015, 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, and Marianne Wainwright Absent: Marc Magers. Council Member Beer introduced the resolution hereinafter next set out, related to setting a date for hearings on general obligation loan agreements in a principal amount not to exceed $2,080,000, for the purpose of financing the acquisition of a fire truck and an emergency warning siren system, and certain infrastructure improvements and urban renewal planning costs, and moved its adoption, seconded by Council Member 1!ri.eden, and alter due consideration thereof by the City Council, the Mayor put the question upon the adoption of the said resolution and the roll being called,the following named.Council Members voted: Ayes: Beer, Frieden, Otto, and Wainwright Nays: None. Whereupon,the Mayor declared the resolution duly adapted as hereinafter set out. 00000 At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. Jason Ryle, Mayor Attest: ` ✓ .{ 4 Iplxl ._ ,'c�,4,$�\ wra phi. Cyr) is Stimson,City Clerk/Treasurer �, :, 4p y '�BlO ,PO♦moi® �� e .. DORSEY&WB:ITNEY LLP, ATTORNEYS,DES HOMES, IOWA Fairfax419915-21/5etHmp GO LA RESOLUTION NO. 2015-30! RESOLUTION TO FIX A DATE FOR PUBLIC: HEARINGS ON LOAN AGREEMENTS IN A PRINCIPAL AMOUNT NOT TO EXCEED $2,080,000 WHEREAS, the City of Fairfax (the "City"), in Linn County, State of Iowa, proposes to enter into a general obligation essential corporate purpose loan agreement (0e "Essential Purpose Loan Agreement") in a ,principal amount not to exceed $1,980,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to that extent, of acquiring a fire truck and an emergency warning siren system, and constructing street, sanitary and storm sewer, sewage treatment, water main and municipal trail system improvements, including projects located in the Fairfax Urban Renewal Area, and it is necessary to fix a date of meeting of the City Council at which a public hearing will be held on the proposal to enter into the Essential Purpose Loan Agreement and to give notice thereof as required by such law; and WHEREAS, the City also proposes to enter into an urban renewal planning loan agreernCrIt(the "Urban Renewal Planning Loan Agreement") in a principal amount not to exceed $100,000, for the general corporate purpose of plarm. ing and designing the addition of property to the Fairfax Urban Renewal Area, and, in lieu of calling an election thereon, the City desires to institute proceedings to enter into the Urban Renewal Planning Loan Agreement by causing a notice of such proposal to be published, including notice of the right to petition for an election, under the provisions of Section 384.26 of the Code of Iowa; NOW, THEREFORE, It Is Resolved by the City Council of the City of Fairfax, Iowa, as follows: Section 1. The City Council shall meet on the 12th day of May, 2015, at the city hall at 525 Vanderbilt Street, Fairfax, Iowa, at 7:00 o'clock p.m., at which time and place hearings will be held on, the proposal to enter into the Essential, Purpose Loan Agreement and the Urban Renewal Planning Loan Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed hearing on the Essential Purpose Loan Agreement setting forth the amount and purpose thereof, the time when and place where the hearing will be held by publication at least once and not less than 4 nor more than 20 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: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fair£ak419915-21/SeI-lmgs GO LA I j NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,980,000 (GENERAL OBLIGATION ESSENTIAL PURPOSE) The City Council of the City of Fairfax, Iowa, will meet on the 12th day of May, 2015, at the city hall at 525 Vanderbilt 'Street, Fairfax, Iowa, at 7.00 o'clock p.m., for the purpose of holding a public hearing on a loan agreement (the "Loan Agreement") in a principal amount not to exceed $1,980,000 for the purpose of paying the cost, to that extent, of acquiring a fire truck and an emergency warning siren system, and constructing street, sanitary and storm sewer, sewage treatment, water main and municipal trail system irnprovernents, including projects located in the Fairfax Urban Renewal Area. 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 tiled 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. i i Cynthia Stimson City Clerk/Treasurer -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax419915-21/Sedirngs GO LA Section 3. The City Clerk is hereby directed to give notice of the proposed, action on the Urban Renewal Planning Loan Agreement setting forth the al-nount and purpose thereof, the time when and place where the: said meeting will be held by publication at least once and not less than 10 nor more than 20 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: -4- DORSEY&WHITNEY LLP,ATTORNEYS, DES MOINES,IOWA i Falrtax419915-21/Sedlrngs CY10 LA i I NOTICE C1IE F PROPOSED { MOY ✓ ACTION / TION TO HOLD H OL JRIyON A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $100,000 (GENERAL OBLIGATION URBAN RENEWAL) The City Council of the City of Fairfax, Iowa, will meet on May 12, 2015, at the city hall at 5252 Vanderbilt Street, Fairfax, Iowa, at 7:00 o'clock p.m., for the purpose of holding a hearing on a loan agreement (the "Loan Agreement") in a principal amount not to exceed. $1.00,000 for the purpose of planning and designing the addition of property to the Fairfax Urban Renewal Area. 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. The maximum rate of interest which may be payable under the Loan Agreement is 6% per annum. At any time before the date fixed for taking action to eater into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. By order of the City Council of the City of Fair.Fax, Iowa. Cynthia Stimson City Clerk/Treasurer -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairf'ax419915-2I/Setf1mgs GO LA Section.4. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved April 14, 2015. Jason Ra- , Mayor Attest: loWgy pp yy''�W�I��Y �raar+W W 4 Air p ,i� I �giJ4 pY a li� fir'q Cyt a Stimson, City lot o t a l: Y�moo uG_ap ��88�14B�IW -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES, IOWA F"aitfax:41.9915-21/SetHnigs CO LA STATE OF IOWA COUNTY OF LINN SS: CI"T"Y 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 hearings on the City Council's proposal to enter into loan agreements, as referred to therein. WITNESS MY HAND this 15`" day of April, 2015. Cynt is Stimson, City Clerk/Treasurer -7- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax,419915-21/SetHrngs CTO LA STATE OF IOWA COUNTY OF LINN SS: CITY OF FAIRFAX 1, 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 hold public hearings on loan agreements, the notices, of which the printed slips attached, to the publisher's affidavit hereto attached are true and corriplete copies, were 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 52015. City Clerk (Attach here the publisher's original affidavit with clippings of the notices, as published, and email or fax a copy of each published notice to our office at (515) 283-1060, as soon as each notice appears in the newspaper.) DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA i April 10, 2015 Cynthia Stimson City Clerk/City Hall Ptd Box 337 Fairfax, Iowa 52228-0337 Re: 2015 General Obligation Loan Agreements Our Dile;No. 419915-21 Dear Cynthia: I have prepared and enclose proceedings to be used at the City Council meeting on April 14 to set May 12 as the date for hearings on an Essential Purpose Loan Agreement and an Urban Renewal Planning 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 the hearings on the Loan,Agreements. The forms, of notice of hearing are set out in Sections 2 and 3 of the resolution. Please insert the time and place of the hearings in both the resolution and the notices. 2. Certificate attesting the transcript. 3. Certificate with respect to publication of the notices, to which must be attached the publisher's affidavit of publication with a clipping of each notice as published. The notice related to the Essential Purpose Loan Agreement 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. The notice related to the Urban Renewal Planning Loan Agreement must be published,not less than T N"nor more than 20 days before the date set for the hearing. Please email or fax a copy of each published notice to our office at (51.5)283-1060, As soon as possible after the City Council meeting, please return one fully executed copy of these proceedings. If you have any questions, please contact me. Very truly yours, Robert E, Josten. cc by email: Maggie Burger