MINUTES TO SET DATE FOR HEARINGS ON LOAN AGREEMENTS
435926-27
Monticello, Iowa
May 7, 2012
The City Council of the City of Monticello, Iowa, met on May 7, 2012, at 6:00 o’clock p.m., at the Monticello Renaissance Center, Community Media Room, 220 East First Street, Monticello, Iowa. The Mayor presided and the roll was called showing the following members of the City Council present and absent:
Present: Dave Goedken, Bill Meyer, Reenie Breyer, John Sauser, Chris Lux and Tom Yeoman.
Absent: None.
Council Member Meyer introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Goedken; 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: Meyer, Goedken, Sauser, Lux, Yeoman, and Breyer
Nays: None.
Whereupon, 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.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, City Clerk
RESOLUTION NO. 12-64
Resolution to fix a date for public hearings on Loan Agreements
WHEREAS, the City of Monticello (the “City”), in Jones County, State of Iowa, pursuant to the provisions of Section 384.24A of the Code of Iowa, proposes to enter into a loan agreement (the “Essential Corporate Purpose Loan Agreement”) in a principal amount not to exceed $600,000 for the essential corporate purposes of paying the costs, to that extent, of constructing street improvements, acquiring a dump truck and snow removal equipment for the street department and acquiring a garbage truck, and it is necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Essential Corporate Purpose Loan Agreement and to give notice thereof as required by such law; and
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City also proposes to enter into a loan agreement (the “General Corporate Purpose Loan Agreement”) in a principal amount not to exceed $175,000 for the general corporate purpose of paying the cost, to that extent, of constructing and effecting window repairs and other improvements to the Community Building, and in lieu of calling an election thereon, the City desires to institute proceedings to enter into the General Corporate Purpose 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, Be It Resolved by the City Council of the City of Monticello, Iowa, as follows:
Section 1. The City Council shall meet on May 21, 2012, at the Monticello Renaissance Center, Community Media Room, 220 East First Street, Monticello, Iowa, at 6:00 o’clock p.m., at which time and place hearings will be held and proceedings will be instituted and action taken to enter into the Essential Corporate Purpose Loan Agreement and the General Corporate Purpose Loan Agreement.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Essential Corporate Purpose 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:
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $600,000
(GENERAL OBLIGATION)
The City Council of the City of Monticello, Iowa, will meet on May 21, 2012, at the Monticello Renaissance Center, Community Media Room, 220 East First Street, Monticello, Iowa, at 6:00 o’clock p.m., for the purpose of instituting proceedings and taking action to enter into a loan agreement (the “Loan Agreement”) in a principal amount not to exceed $600,000 for the purpose of paying the costs, to that extent, of constructing street improvements, acquiring a dump truck and snow removal equipment for the street department and acquiring a garbage truck.
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 filed 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 Monticello, Iowa.
Sally Hinrichsen
City Clerk
Section 3. The City Clerk is hereby directed to give notice of the proposed action on the General Corporate Purpose 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 10 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:
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $175,000
(GENERAL OBLIGATION)
The City Council of the City of Monticello, Iowa, will meet on May 21, 2012, at the Monticello Renaissance Center, Community Media Room, 220 East First Street, Monticello, Iowa, at 6:00 o’clock p.m., for the purpose of instituting proceedings and taking action to enter into a loan agreement (the “Loan Agreement”) in a principal amount not to exceed $175,000 for the purpose of paying the cost, to that extent, of constructing and effecting window repairs and other improvements to the Community Building.
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 8% per annum.
At any time before the date fixed for taking action to enter 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 Monticello, Iowa.
Sally Hinrichsen
City Clerk
Section 4. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict.
Passed and approved May 7, 2012.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, City Clerk
STATE OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned, City Clerk of the City of Monticello, 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’s proposal to take action in connection with certain loan agreements, as referred to therein.
WITNESS MY HAND this _____ day of __________________, 2012.
Sally Hinrichsen, City Clerk
STATE OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned City Clerk, do hereby certify that the City of Monticello is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that the City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named.
And I do further certify that the following named parties are officials of the City as indicated:
Dena Himes, Mayor
Douglas Herman, City Administrator
Sally Hinrichsen, City Clerk/Treasurer
John Sauser, Council Member/ Mayor Pro-Tem
Reenie Breyer, Council Member
Chris Lux, Council Member
Tom Yeoman, Council Member
Bill Meyer, Council Member
Dave Goedken , Council Member
WITNESS MY HAND this ____ day of _____________, 2012.
Sally Hinrichsen, City Clerk
(PLEASE NOTE: Do not date and return this certificate until you have received the publisher’s affidavits and have verified that the notices were published on the date indicated in the affidavits but please return all other completed pages to us as soon as they are available.)
STATE OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned, City Clerk of the City of Monticello, 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 certain loan agreements, the notices, of which the printed slips attached to the publisher’s affidavits hereto attached are true and complete copies, were published on the date and in the newspaper specified in such affidavits, which newspaper has a general circulation in the City.
WITNESS MY HAND this ______ day of ________________, 2012.
Sally Hinrichsen, City Clerk
(Attach here the publisher’s original affidavits with clippings of the notices, as published.)
April 30, 2012
Doug Herman
City Administrator/City Hall
Monticello, Iowa
Via Email
Re: $600,000 Essential Corporate Purpose Loan Agreement
$175,000 General Corporate Purpose Loan Agreement
Our File No. 435926-27
Dear Doug:
We have prepared and attach proceedings to be used at the May 7th City Council meeting to set May 21st as the date for the hearings on the General Obligation Loan Agreements.
The documents attached include the following items:
1. Resolution fixing the date, time and place of the meeting at which it is proposed to hold the hearings and take action to enter into the Loan Agreements.
The notices of hearing are set out in the resolution. Please print an extra copy of each for delivery to the publisher.
2. Certificate attesting the transcript.
3. Certificate with respect to publication of the notices, to which must be attached the publisher’s affidavits of publication with clippings of the notices as published.
The notice of hearing on the Essential Corporate 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 Monticello.
The notice of hearing on the General Corporate Purpose Loan Agreement must be published at least once not less than 10 nor more than 20 days before the meeting date set for the hearing, in a legal newspaper which has a general circulation in Monticello.
As soon as the notices appear in the newspaper, please have copies faxed to our office at (515) 283-1060.
If a petition is filed asking that the question of entering into the General Corporate Purpose Loan Agreement be submitted to the voters of the City, please contact me immediately.
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.
Best regards,
John P. Danos
Attachments
cc: Sally Hinrichsen
Jon Burmeister