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Home My WebLink AboutRESOLUTION NO. 2016-72 Fairfax419915-23/SetHrng2016Water Rev LA SET DATE FOR HEARING ON WATER REVENUE LOAN AGREEMENT 419915-23 Fairfax, Iowa July 12, 2016 The City Council of the City of Fairfax, Iowa, met on July 12, 2016, at 6:00 o'clock p.m., at the Fairfax City Hall at 525 Vanderbilt Street, in Fairfax, Iowa. The Mayor presided and the roll was called showing the following members of the City Council present and absent: Present: JoAnn Beer, Mike Daly, and Nick Volk Absent: Joe Kell and Marianne Wainwright. Council Member Beer introduced the resolution hereinafter next set out, setting a date for hearing on a water revenue loan agreement, and moved its adoption, seconded by Council Member Daly; 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, Daly, and Volk Nays: None. 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. Burnell G. Frieden, Mayor Attest: F Cynt is K. Stimson, City Clerk/Treasurer DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax4i9915-23/SetHrng2015WaterRev LA RESOLUTION NO, 2016-72 SETTING DATE FOR HEARING ON WATER REVENUE LOAN AGREEMENT IN AN AMOUNT NOT TO EXCEED $500,000, RELATED TO IMPROVEMENTS TO THE MUNICIPAL WATERWORKS SYSTEM WHEREAS, the City of Fairfax, in Linn County, State of Iowa (hereinafter referred to as the "City"), did heretofore establish a Municipal Waterworks System (the "Utility") in and for the City which has continuously supplied water service in and to the City and its inhabitants since its establishment; and WHEREAS,the management and control of the Utility are vested in the City Council and no board of trustees exists for this purpose; and WHEREAS, the City proposes to enter into a Water Revenue Loan Agreement (the "Loan Agreement") in a principal amount not to exceed $500,000 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 to the Utility, and it is necessary to fix a date of meeting of the City Council at which it is proposed to hold a hearing and 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 26th day of July, 2016, at the Fairfax City Hall at 300 80th Street Court, Fairfax, Iowa, 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 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: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Pasrfax419915-23/SetHrng2016Water Rev LA NOTICE OF PROPOSED ACTION TO HOLD A HEARING ON A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $500,000 (WATER REVENUE) The City Council of the City of Fairfax, Iowa, will meet on the 26th day of July, 2016, at the Fairfax City Hall at 300 80th Street Court, Fairfax, Iowa, at 6:00 o'clock p.m. for the purpose of holding a hearing and taking action to enter into a loan agreement (the "Loan Agreement") in a principal amount not to exceed $500,000 for the purpose of paying the cost, to that extent, of constructing improvements to the Municipal Waterworks System. The Loan Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation, but, together with any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Municipal Waterworks System. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa. 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 Council 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/Treasurer -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax419915-23/SetHmg2016Water Rev LA Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved July 12, 2016. Burnell G. Frieden, Mayor Attest: + Cynt„'a K. Stimson, City Clerk/Treasurer a oy [` Ott -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax419915-23/SetHrng2016Water Rev LA 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 18th day of July, 2016. s f % Cent;is K. Stimson, City Clerk/Treasurer -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Fairfax419915-23/SetHrng2016Water Rev LA STATE OF IOWA COUNTY OF LINK SS.- CITY S: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 of2016. ,. ._ ; Cynt is K. Stimson, City Clerk/Treasurer (Attach here the publisher's original affidavit with clipping of the notice, as published.) Ttre::Gazette,Thdr.sday;:July;21,20167 .: 0TICE 11.OTICE 11 Pl�£PPfXSED ACTION TO HOD A.LOAN ="T Q4 A P€t1P&Cl§FaL AJrtl€IUNT NOT TO 9XCEED 00000 f�dAT��I&EUENUEI Ttie CrfY CowncEl di the.'iCitY of Eai'rtax, (dura,will meet on the 28th day of,JWY.: 2EF18 al'9he'.Fairfax Cfy Hall at 360 go-ff1 Street Court,'Fa[rfax, "Iowa, at SaIY o'ctack5.P-m. fnr",1tce Purpose dU tpkd€ttff a hearing artd',tafe€ns action SG' ,ehtet€afa ataoan a4ree,rhrW:0116"Loam s 99reerrneaf'}rn a psimckpal amau€rt naI 16 eXCeed $5o6006Ibr the purpose of paving the::;cosf,fo that extent,df con- 5irucfkng iril:pravenlent5 to the MuniCt- dal Waterworks 5ysterrtf The Loan AgreementSWON'. not COcanSON a:9enerat abligat€ort of+.lhe Cktyr,rtor v�kR S it be aayati a in any Manner b tion, b0i.fagether:with any addkhanal trbligattons'af the Ctty as may be;bere- after ltleo and outslandkng fror{ time'' to fame rank€ng oh a.parity iherew€th, €0 be paY�oafe saleiv ands only from the: Mot izeven.lies of fhe $unrC€pak:GVa€er vforks SV$fedl The Laan Asreement'is proposed to be entered Edta oursuanl.ta authority con-.' Ca€netl in Section 3k,24A of tbe.Cpde of'. Idwa At fhW Me aad place oral or wrflten' �atYlectlon.s;�raV be;p[6d or made ftr the:. proposal ta.<enler infatfre Loan Agree-.' ment. After recetYtCig obieciknis, the' City. CdutiGil mak d.efe. .hhec.We er' 46fo the t_oan Agreement in'which. case the decrsion will be finat(unless; 45ppeake0'.46 Rhe D.sfrict Courtiw€fhin..- fifteen(15)days thereafter. -``6k atdef..di the C?Y..Counc€k of the 0W. 'tlf Fairfax-aowa. CYnNa irrsan it CleriCfTreasUrer< DORSEY&WHFrNEY LLP,ATTORNEYS,DES MOINES,IOWA July 5,2016 Cynthia Stimson City Clerk/City Hall P.Q.Box 337 Fairfax,Iowa 52228-0337 Re: $500,000 Water Revenue Loan Agreement Our File No. 419915-23 Dear Cynthia: In response to information provided by Maggie Burger, I have prepared and enclosed proceedings to be used by the Fairfax City Council on July 12 to set July 26 as the date for a hearing on the proposal to enter into the Water Revenue 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. Please insert the time and place of the hearing in both the resolution and the notice. 2. Certificate attesting the transcript. 3. 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 scan and email or 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 ane. Very truly yours, Robert E. Josten cc by email: Maggie Burger