MINUTES TO SET DATE FOR HEARING ON ENTERING INTO A LOAN AND DISBURSEMENT AGREEMENT
435926-33
Monticello, Iowa
February 15, 2021
The City Council of the City of Monticello, Iowa, met on February 15, 2021, at 6:00 o’clock p.m., at the Monticello Renaissance Center, 220 East First Street, in the City.
Due to federal and state government recommendations in response to COVID-19 pandemic conditions, alternative access to the meeting was provided electronically via Zoom, which was accessible at the following:
Topic: Monticello City Council
Time: Feb 15, 2021 06:00 PM Central Time (US and Canada)
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Meeting ID: 675 587 6357
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Meeting ID: 675 587 6357
Electronic access information was included in the posted agenda of this public meeting.
The Mayor presided and the roll was called showing the following members of the Council present and absent:
Present: Dave Goedken, Scott Brighton, Candy Langerman, Chris Lux, Tom Yeoman. Brenda Hanken joined meeting electronically.
Absent: None.
Council Member Yeoman introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Goedken; and after due consideration thereof by the 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: Yeoman, Goedken, Brighton, Langerman, Lux and Hanken
Nays: None.
Whereupon, the Mayor declared the resolution duly
adopted as follows:
RESOLUTION NO. 2021-24
Resolution to fix a date for a public hearing on proposal to enter into a Sewer Revenue Loan and Disbursement Agreement and to borrow money thereunder in a principal amount not to exceed $595,0000.
WHEREAS, the City of Monticello (the “City”), in Jones County, State of Iowa, did heretofore establish a Municipal Sanitary Sewer System (the “Utility”) in and for the City which has continuously supplied sanitary sewer 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 (the “Council”) and no board of trustees exists for this purpose; and
WHEREAS, the City now proposes to enter into a Sewer Revenue Loan and Disbursement Agreement (the “Agreement”) and to borrow money thereunder in a principal amount not to exceed $595,0000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Utility (the “Project”), 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 Agreement and to give notice thereof as required by such law;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Monticello, Iowa, as follows:
Section 1. This City Council shall meet on March 1, 2021, at the Monticello Renaissance Center, 220 East First Street, in the City, 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 Agreement.
Section 2. The
City Clerk is hereby directed to give notice of the proposed action on the
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, not less
than four (4) and not more than twenty (20) days before the 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 AND DISBURSEMENT AGREEMENT
IN A PRINCIPAL AMOUNT NOT TO EXCEED $595,0000
(SEWER REVENUE)
The City Council of the City of Monticello, Iowa, will meet on March 1, 2021, at the Monticello Renaissance Center, 220 East First Street, in the City, at 6:00 o’clock p.m., for the purpose of instituting proceedings and taking action to enter into a loan and disbursement agreement (the “Agreement”) and to borrow money thereunder in a principal amount not to exceed $595,0000, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the City’s Municipal Sanitary Sewer System.
Due to federal and state government recommendations in response to COVID-19 pandemic conditions, alternative access to the meeting will be provided electronically via Zoom, which will be accessible at the following:
City of Monticello is inviting you to a scheduled Zoom meeting.
Topic: March 1st, 2021 City Council Meeting
Time: Mar 1, 2021 06:00 PM Central Time (US and Canada)
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Meeting ID: 675 587 6357
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Meeting ID: 675 587 6357
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In addition to electronic access, written comments may be filed or made prior to the meeting and will be recorded in the minutes.
The 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 Sanitary Sewer System of the City.
At the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the 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. Pursuant to Section 1.150-2 of the Income Tax Regulations (the “Regulations”) of the Internal Revenue Service, the City declares (a) that it intends to undertake the Project which is reasonably estimated to cost approximately $595,0000, (b) that other than (i) expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or other obligations (the “Bonds”), or (ii) expenditures made not earlier than 60 days prior to the date of this Resolution or a previous intent resolution of the City, or (iii) expenditures amounting to the lesser of $100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting preliminary expenditures as defined in Section 1.150-2(f)(2) of the Regulations, no expenditures for the Project have heretofore been made by the City and no expenditures will be made by the City until after the date of this Resolution or a prior intent resolution of the City, and (c) that the City reasonably expects to reimburse the expenditures made for costs of the City out of the proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to Section 1.150-2 of the Regulations.
Section 4. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict.
Section 5. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law.
Passed and approved this February 15, 2021.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk
• • • •
On motion and vote, the meeting adjourned.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk
ATTESTATION CERTIFICATE:
STATE OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned, City Clerk of the aforementioned City, 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 hearing on the City Council’s proposal to take action in connection with a Sewer Revenue Loan and Disbursement Agreement.
WITNESS MY HAND this ____ day of _____________________, 2021.
Sally Hinrichsen, City Clerk
ORGANIZATION AND ESTABLISHMENT CERTIFICATE:
STATE
OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned City Clerk, do hereby certify that the aforementioned City is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that such 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:
Brian Wolken_________________________, Mayor
Sally Hinrichsen_______________________, City Clerk
Sally Hinrichsen ______________________, City Treasurer
Dave Goedken________________________, Council Member/Mayor Pro Tem
Scott Brighton________________________, Council Member
Candy Langerman_____________________, Council Member
Chris Lux____________________________, Council Member
Brenda Hanken________________________, Council Member
Tom Yeoman__________________________, Council Member
I further certify that the City established the Municipal Sanitary Sewer System (the “Utility”) and that the Utility has been in continuous operation by the City since its establishment as aforesaid in supplying sanitary sewer service to the City and its inhabitants.
I further certify that the management and control of the Utility are vested in the City Council of the City, and that no board of trustees exists which has any part of the control and management of such Utility.
WITNESS MY HAND this ____ day of _____________________, 2021.
Sally Hinrichsen, City Clerk
OUTSTANDING DEBT CERTIFICATE:
STATE OF IOWA
COUNTY OF JONES SS:
CITY OF MONTICELLO
I, the undersigned, City Clerk of the City of Monticello, Iowa (the “City”), do hereby certify that the City has no bonds or other obligations of any kind now outstanding which are secured by and payable from the revenues derived from the operation of the Municipal Sanitary Sewer System (the “Utility”) except as follows:
| Date | Type | Principal Amount Outstanding | Maturity |
| NONE | |||
(Attach here a separate sheet listing any outstanding obligations of the City secured by and payable from the revenues of the Utility excluding the proposed issue)
WITNESS MY HAND this ____ day of _____________________, 2021.
Sally Hinrichsen, City Clerk
PUBLICATION CERTIFICATE:
(PLEASE NOTE: Please do not date and return this certificate until you have received the publisher’s affidavit and have verified that the notice was published on the date indicated in the affidavit, 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 aforementioned City, do hereby certify that pursuant to the resolution of its City Council fixing a date of meeting at which it is proposed to take action to enter into a loan and disbursement 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 of _____________________, 2021.
Sally Hinrichsen, City Clerk
(Attach here the publisher’s original affidavit with
clipping of the notice, as published.)
January 10, 2023
VIA EMAIL
Sally Hinrichsen
City Clerk/City Hall
Monticello, Iowa
Re: $595,0000 SRF
Sewer Revenue Loan and Disbursement Agreement
File No. 435926-33
Dear Sally:
We have prepared and attach proceedings for the February 15, 2021, City Council meeting to enable the Council to set March 1, 2021, as the date for a hearing on the proposal to enter into the SRF Sewer Revenue Loan and Disbursement Agreement (the “Agreement”).
The documents attached include the following items:
- Resolution fixing the date of meeting at which it is proposed to take action to enter into the Agreement. The form of notice is set out in Section 2 of the resolution. Please print an extra copy for delivery to the newspaper. Please insert the time and place of the hearing in both the resolution and the notice.
- Attestation Certificate with respect to the validity of the transcript.
- Organization and Establishment Certificate.
- Outstanding Debt Certificate with respect to the outstanding debt of the Sewer Utility.
- Publication 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 four (4) and not more than twenty (20) days before the meeting date set for the hearing, in a legal newspaper which has a general circulation in Monticello. The last date on which this notice can be effectively published is February 25, 2021.
As soon as the notice appears in the newspaper, please have a copy emailed to lemke.susan@dorsey.com or faxed to our office at (515) 283-1060.
Please return one fully executed copy of all completed pages to us as soon as they are available.
Please call John Danos, Jessica Vaught or me if you have questions.
Kind regards,
Emily Hammond
Attachments
cc: Tracy Scebold
Tony Toigo
Matthew Stoffel
Lindsay
Beaman