The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #11-171
Approving the use of Tax Increment Financing collections to pay for the
Paying Agent fee increases to Bankers Trust Company for the
TIF related bonds for the Urban Renewal Area Projects
WHEREAS, The City of Monticello established the Original Urban Renewal Area Designation and Urban Renewal Plan for the City, and
WHEREAS, The City of Monticello hired Bankers Trust Company to serve as Paying Agent for bonds sold to finance for TIF projects and Bankers Trust Company increased their fees, and
WHEREAS, The increased amount for the paying agent service fees for the TIF related bonds is $10,515.00, as of June 30, 2007. This amount should be appropriated as follows:
1993 GO Bond $ 400.00
1998A GO Bonds $ 1,848.00
2001A GO Bonds $ 3,600.00
2004 GO Bond $ 3,600.00
2005 GO Corp Purpose & Refunding Note $ 1,067.00
NOW, THEREFORE, BE IT RESOLVED, that the City Council of Monticello, Iowa does hereby approve of the use of Tax Increment Financing collections to pay for the paying agent service fees for TIF related bonds in the amount of $ 10,515.00 to be paid to Banker Trust Company.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 5th day of December, 2011.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk