City of Kingsley — Notice of Meeting on Proposed Loan Agreement

City of Kingsley
NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF KINGSLEY,
STATE OF IOWA, ON THE MATTER OF THE PROPOSED AUTHORIZATION
OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $300,000
GENERAL OBLIGATION CAPITAL LOAN NOTES OF THE CITY
(FOR GENERAL CORPORATE PURPOSES), AND THE
HEARING ON THE ISSUANCE THEREOF

PUBLIC NOTICE is hereby given that the City Council of the City of Kingsley, State of Iowa, will hold a public hearing on the 6th day of May, 2019, at 7:00 P.M., in the Council Chambers, City Hall, 222 Main Street, Kingsley, Iowa, at which meeting the Council proposes to take additional action for the authorization of a Loan Agreement and the issuance of not to exceed $300,000 General Obligation Capital Loan Notes, for general corporate purposes, bearing interest at a rate of not to exceed nine (9) per centum per annum, the Notes to be issued to provide funds to pay the costs of the acquisition and ownership of real property, including for commercial or residential development.  Principal and interest on the proposed Loan Agreement will be payable from the Debt Service Fund.

At any time before the date of the meeting, a petition, asking that the question of issuing such Notes be submitted to the legal voters of the City, may be filed with the Clerk of the City, including the drop box at City Hall during non-business hours, in the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of Sections 384.24A and 384.26 of the Code of Iowa.

At the above meeting the 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 Council will at the meeting or at any adjournment thereof, take additional action for the authorization of a Loan Agreement and the issuance of the Notes to evidence the obligation of the City thereunder or will abandon the proposal to issue said Notes.

This notice is given by order of the City Council of the City of Kingsley, State of Iowa, as provided by Sections 384.24A and 384.26 of the Code of Iowa.

Dated this 18th day of April, 2019.
___________________
/s/ Vicki Sitzmann
City Clerk, City of Kingsley, State of Iowa

Published in The Record
Thursday, April 25, 2019