Public Hearing, Essential Purpose Loan Agreement
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,225,000
The City Council of the City of Clive, Iowa, will meet on September 19, 2013, at the CLIVE CITY HALL, Clive, Iowa, at 6:00 o’clock p.m., for the purpose of holding a hearing on a loan agreement (the “Essential Corporate Purpose Loan Agreement”) in a principal amount not to exceed $1,225,000 for the purpose of financing improvements to streets, acquisition of traffic control devices and acquisition of an aerial ladder fire truck.
The Essential Corporate Purpose 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 Essential Corporate Purpose Loan Agreement. After receiving objections, the City may determine to enter into the Essential Corporate Purpose 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 Clive, Iowa.
Pamela L. Blessman