HomeMy WebLinkAboutRESOLUTION NO. 2016-78 Fairfax419915-23/Hmg2016ScwerRevLA
HEARING ON SEWER RE VENUE 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, and Joe Kell
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 $1,300,000, for the purpose of paying
the cost,to that extent, of constructing improvements to the Municipal Sanitary Sewer System,the
City Clerk announced that no written objections had been placed on file.
The Mayor called for any written or oral olajections, 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 Beer. The Mayor put the
question upon the adoption of said resolution, and the roll being called, the following Council
Members voted:
Ayes: Beer Daly, Volk, and Kell
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out.
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Fairfax419915-231Hmg203 6SeiverRevLA
At the conclusion of the meeting and upon motion and vote,the City Council adjourned,
urnell Cl, Frieden, Mayor
Attest:
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C nt iaa K. Stimson, City Clerk/Treasurer
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Faip1'ax419915-23/Hrng2016SewerR evLA
RE SOLUTION NO. 2016.78
RESOLUTION EXPRESSING INTENT TO ENTER INTO A SEWER
REVENUE LOAN AGREEMENT
WHEREAS,the City of Fairfax(the"City"), in Linn County, State of Iowa, has heretofore
proposed to enter into a Sewer Revenue Loan Agreement (the "Loan Agreement") in a principal
amount not to exceed $1,300,000, 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
municipal sanitary sewer 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 sewer 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 384.24A of the Code of Iowa.
Section 2. All, resolutions and orders or parts thereof in conflict with the previsions 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 26, 2016.
Burnell G, Frieden, Mayor
Attest:
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^Cyntpia K. Stimson, City Clerk/Treasurer •F,��'�,•�•�ti••�,��
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,10WA
Fairfax419915-23/Hmg2016SewerRevLA
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 the hearing on the City
Council's intention to enter into a Sewer Revenue Loan Agreement,
WITNESS MY HAND this 26tH day of July, 2016.
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Cynt is . Stimson, City Cleric/"I"reasurer
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