(SEWER REVENUE)
The City Council of the City of Sanborn, Iowa, will meet on February 12, 2024, at 5 o’clock p.m., at the Sanborn City Hall, Sanborn, Iowa, for the purpose of instituting proceedings and taking action on the proposal to enter into an amended loan and disbursement agreement (the “Agreement”) and to borrow money thereunder in a principal amount not to exceed $9,290,000, for the purpose of paying the cost, to that extent, of (1) current refunding the City’s outstanding Taxable Sewer Revenue Bond, SRF Series 2018, dated December 7, 2018; and (2) undertaking the construction of a certain water resource restoration project.
The Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation but, together with the City’s outstanding Taxable Sewer Revenue Bond, SRF Series 2004, dated June 9, 2004 and any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Municipal Sanitary Sewer System of the City.
At that time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the 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 Sanborn, Iowa.
Wendy Reed
City Clerk
Published in the Sanborn Pioneer February 1.