RESOLUTION NO. 2023-02
Resolution setting November 8, 2022, as the date for an election on the proposition of entering into a loan agreement and issuing general obligation bonds
WHEREAS, the Board of Supervisors (the “Board”) of Taylor County, Iowa (the “County”) has proposed that the County be authorized to enter into a loan agreement and issue bonds in a principal amount not exceeding $3,950,000 to finance the construction of improvements to the County Courthouse, including elevator and electrical improvements (the “Projects”); and
WHEREAS, pursuant to Sections 331.402 and 331.442 of the Code of Iowa, before the County may enter into a loan agreement and issue its bonds for such purposes, the County must hold a special election upon such proposition and receive a favorable vote from at least 60% of the total votes cast at such special election; and
WHEREAS, in accordance with Section 331.442 of the Code of Iowa, as part of the Board’s action to set a date for an election on such proposition, the Board must publish notice of such proposition, including a statement of the amount and purposes of the loan agreement and the bonds to be issued, and a statement of the estimated cost of the Projects, which notice must be published, as provided in Section 331.305 of the Code of Iowa, with the minutes of the meeting at which the Board adopts a resolution setting the date for an election on the question of entering into the loan agreement and issuing such bonds;
NOW, THEREFORE, IT IS RESOLVED by the Board of Supervisors of Taylor County, Iowa, as follows:
Section 1. The Board of Supervisors intends to undertake the Projects, as more particularly described in
Section 2 below, at an estimated cost of $3,950,000. In accordance with Section 331.442 of the Code of Iowa, this cost figure is an estimate and shall not be binding on the Board in later proceedings related to the Projects.
Section 2. A special county election is hereby called and ordered to be held in and for the County in conjunction with the general election on November 8, 2022, at which there will be submitted to the voters of the County the following proposition:
“Shall Taylor County, State of Iowa, enter into a loan agreement and issue its general obligation bonds in an amount not exceeding $3,950,000, for the purpose of financing improvements to the County Courthouse, primarily including, but not limited to, elevator and electrical improvements?”
Section 3. All of the foregoing matters are adopted and resolved by this Board, and the County Auditor is hereby authorized and directed to issue a proclamation and notice of the proposition and of the time and place of the election and to take all other actions necessary pursuant to state law to conduct the election. In addition, in accordance with Sections 331.305 and 331.442 of the Code of Iowa, the County Auditor is hereby authorized and directed to publish the minutes of the Board meeting at which this Resolution is adopted, including the full text of this Resolution, and to publish along with those minutes the Board’s Notice of Special Bond Election that is attached to this Resolution.
Section 4. All resolutions or parts of resolutions m conflict herewith are hereby repealed, to the extent of such conflict.
Passed and approved August 18, 2022.