Board of Supervisors Minutes
March 16, 2020
The Tama County Board of Supervisors met at 9:30 a.m. March 16, 2020. Present: 1st District Supervisor, Larry Vest; 2nd District Supervisor, Kendall Jordan and 3rd District Supervisor, Dan Anderson.
Motion by Jordan, seconded by Vest to approve the minutes of the March 9th regular meeting. All voted aye. Motion carried
The Board met with Lyle Brehm, Tama County Engineer, to get a road projects report.
The Board met with Chris Behrens and Michelle Yuska, Treasurer, to discuss a tax sale certificate on parcel 12.33.200.007 in Oneida Township. It is a piece of old railroad right of way that has been abandoned. Taxes have not been paid on the property for 33 years. Tama County holds a tax sale certificate on the parcel. He is asking to purchase the tax sale certificate for $100 and notify the owner of this and then will ask the Board to abate all taxes, interest and penalties. Motion by Jordan, seconded by Vest to sell tax sale certificate #89-2068 to Chris Behrens for $100.00. All voted aye. Motion carried.
Motion by Vest, seconded by Jordan to approve Region 6 joining Region 10 for the Iowa Workforce Investment Board. All voted aye. Motion carried.
At 10:00 the Board held a public hearing to discuss a 911 general obligation refunding loan and agreement and to issue general obligation E911 bonds and refunding bonds in the future. Public comments: None. At 10:10 Chairman Anderson closed the public hearing. Motion by Vest, seconded by Jordan to approve the following resolution expressing intent to enter into loan agreement and issue general obligation E911 and refunding bonds, Series 2020, approving preliminary official statement for the bonds and providing for the levy of taxes:
RESOLUTION NO. 3-16-2020A
Expressing Intent to Enter Into A Loan Agreement and issue General Obligation E911 and Refunding Bonds, Series 2020, approving Preliminary Official Statement for the Bonds and providing for the levy of taxes
WHEREAS, the Board of Supervisors (the “Board”) of Tama County (the “County”), State of Iowa, has heretofore proposed to enter into a General Obligation Loan Agreement (the “E911 Loan Agreement”) in a principal amount not to exceed $6,750,000, pursuant to the provisions of Section 331.402 of the Code of Iowa, for the purpose of financing the acquisition of emergency communication equipment, and has published notice and held a hearing on the proposal; and
WHEREAS, the Board has also proposed to enter into a General Obligation Loan Agreement (the “Refunding Loan Agreement”) in a principal amount to exceed $6,000,000, pursuant to the provisions of Section 331.402 of the Code of Iowa, for the purpose of refunding a portion of the outstanding balance of the County’s General Obligation Urban Renewal County Purpose Bonds, Series 2013, and has published a notice and held a hearing on the proposal; and
WHEREAS, a preliminary official statement (the “Preliminary Official Statement”) has been prepared in connection with the sale of General Obligation E911 and Refunding Bonds, Series 2020A (the “Bonds”), and it is necessary to make provision for the approval of the Preliminary Official Statement and to authorize its use by Northland Securities, Inc.; and
WHEREAS, it is anticipated that principal and interest will come due on the Bonds before June 30, 2021, and it is necessary to make provision for the levy of a debt service property tax to be collected in the fiscal year that will begin July 1, 2020 for the payment of such principal and interest;
NOW, THEREFORE, Be It Resolved by the Board of Supervisors of Tama County, Iowa, as follows:
Section 1. The Board of Supervisors hereby expresses its intent to enter into the E911 Loan Agreement and the Refunding Loan Agreement and to issue the Bonds in the future and further declares that this resolution shall constitute the “additional action” required by Section 331.402 of the Code of Iowa.
Section 2. The use by Northland Securities, Inc. of the Preliminary Official Statement relating to the Bonds, in substantially the form as has been presented to and considered by the Tama County Board of Supervisors, is hereby approved, and Northland
Securities, Inc. is hereby authorized to prepare and use a final Official Statement for the Bonds substantially in the form of the Preliminary Official Statement, but with such changes therein as are required to conform the same to the terms of the Bonds and the resolution, when adopted, providing for the issuance of the Bonds, and the County Auditor is hereby authorized and directed to execute a final Official Statement for the Bonds, if requested. The Preliminary Official Statement as of its date is deemed final by the County within the meaning of Rule 15(c)(2)-12 of the Securities and Exchange Commission.
Section 3. For the purpose of providing for the levy and collection of a direct annual tax sufficient to pay the principal of and interest on the Bonds, there is hereby ordered levied on all the taxable property in the County a direct annual tax for collection in the fiscal year beginning July 1, 2020, sufficient to produce the sum of $353,265.
Section 4. A certified copy of this resolution shall be filed with the County Auditor, and the Auditor is hereby instructed to enter for collection and assess the tax hereby authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the County and when collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the County and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Bonds and for no other purpose whatsoever.
Section 5. All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict.
Passed and approved March 16, 2020.
Roll call vote: Vest, Aye. Jordan, Aye. Anderson, aye. Motion carried. Resolution passed and adopted this 16th day of March, 2020. Dan Anderson, Chairman, Board of Supervisors. Laura Kopsa, County Auditor.
Motion by Vest, seconded by Jordan to approve the claims for payment as presented. All voted aye. Motion carried.
Chairman Anderson adjourned the meeting at 10:15 a.m.