HomeMy WebLinkAboutRESOLUTION NO. 2016-77 Fairfax419915-23/Hrng2016WaterRevLA
FlEARING CSN WA'T'ER REVENUE LOAN
AGREEMENT
419915-23
Fairfax, Iowa
July 26, 2016
The City Council of the City of Fairfax, Iowa, met on July 26, 2016, at 6:00 p.m., at the
City Hall, Fairfax, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following members of the City Council present and absent:
Present: JoAnn Beer, Mike Daly, Nick Volk, andJoeKell
Absent: Marianne Wainwright.
This being the time and place specified for holding a public hearing on the proposal to enter
into a loan agreement in a principal amount not to exceed $500,000, for thep urpose of paying the
cost,to that extent, of constructing improvements for the Municipal Waterworks System,the City
Clerk announced that no written objections had,been placed on file.
The Mayor called for any written or oral, objections, and the following persons made
comments or presented written comments:
None
There being no further comments, the Mayor closed the public hearing.
After due consideration and discussion, Council Member Daly introduced the following
resolution and moved its adoption, seconded by Council Member Volk. The Mayor put the
question upon the adoption of said resolution, and the roll being called, the following Council
Members voted:
Ayes: Beer, Dalv, Volk, and Kell
Nays: None.
Whereupon,the Mayor declared the resolution duly adopted, as hereinafter set out.
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At the conclusion of the meeting and upon motion and vote,the City Council adjourned.
tu-/TZ-116, Frieden, Mayor
Attest:
CyrIOia K. Stimson, City C1erkJTreasurer
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F airffax419915-231Hrng2016WaterRevLA
RESOLUTION NO. 2016-77
RESOLUTION EXPRESSING INTENT TO ENTER INTO A WATER
REVENUE LOAN AGREEMENT
WHEREAS,the City of Fairfax(the "City"),in Linn County, State of Iowa,has heretofore
proposed to enter into a Water Revenue Loan Agreement (the "Loan Agreement") in a principal
amount not to exceed $500,0001, 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 for the
municipal waterworks system..(the"Project"), and has published notice of the proposed action and
has held a hearing thereon;
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 water revenue bonds or notes 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 3 84.24A of the Code of Iowa.
Section 2. All resolutions and orders or parts thereof in conflict with the provisions of
this resolution,to the extent of such conflict, are hereby repealed..
Section 3. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved July 2:6, 2016,
Burnell G. Frieden, Mayor
Attest:
a K."Stimson, City Clerk/Treasurer
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STATE OF IOWA
COUNTY OF LINN' SS:
CITY OF FAIRFAX
I, the undersigned, City Cleric 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 the hearing on the City
Council's intention to enter into a Water Revenue Loan Agreement.
WITNESS MY HAND this 26th day of July, 2016.
Cyn hia 1�. Stimson, City A�Cle
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