Cushing City Council
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS
TO ENTER INTO A LOAN AGREEMENT
AND TO BORROW MONEY THEREUNDER
IN A PRINCIPAL AMOUNT NOT TO EXCEED $150,000
The City Council of the City of Cushing, Iowa will meet on November 5, 2019, at the City Hall in Cushing, Iowa, at 6:30 o’clock p.m. for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the “Loan Agreement”) and to borrow money thereunder in a principal amount not to exceed $150,000 for the purpose of paying the cost, to that extent, of constructing improvements and extensions to the Municipal Waterworks Utility System.
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 Cushing, Iowa.
Published in The Record
Thursday, October 24, 2019