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The original item was published from 7/14/2017 12:27:04 PM to 7/18/2017 5:35:01 PM.

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Posted on: July 14, 2017

[ARCHIVED] City to Hold Public Hearing on $2,700,000 Sewer Loan Notes

PUBLIC NOTICE is hereby given that the City Council of the City of Fort Madison, Iowa, will hold a public hearing on the 18th day of July, 2017, at 5:30 o'clock P.M., in the Council Chambers, City Hall, 811 Avenue "E", Fort Madison, Iowa, at which meeting the City Council proposes to take additional action for the authorization of a Loan and Disbursement Agreement by and between the City and the Iowa Finance Authority, and the issuance to the Iowa Finance Authority of not to exceed $2,700,000 Sewer Revenue Capital Loan Notes to evidence the obligations of the City under said Loan and Disbursement Agreement, in order to provide funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Municipal Sewer System.  The Notes will not constitute general obligations or be payable in any manner by taxation, but will be payable from and secured by the net revenues of the Municipal Sewer System.

            At the above meeting the City Council shall receive oral or written objections from any resident or property owner of the City, to the above action.  After all objections have been received and considered, the City Council will at this meeting or at any adjournment thereof, take additional action for the authorization of said Loan and Disbursement Agreement and the issuance of Notes or will abandon the proposal to issue the Notes.

            This Notice is given by order of the City Council of the City of Fort Madison, Iowa, as provided by Sections 384.24A and 384.83, as amended.

            Dated this  7th day of July, 2017.

/s/Melinda L. Blind

City Clerk

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