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RESOLUTION 2010-33 <br />A RESOLUTION AUTHORIZING THE PURCHASE OF CITY UTILITY TRUCK <br />WITH LOAN FINANCED THROUGH SOLON STATE BANK <br />WHEREAS: the City Council has reviewed the need for the purchase of a replacement <br />utility truck, <br />AND WHEREAS: the City Council has approved the purchase of a replacement utility <br />truck for use by Public Works and any other city functions as needed, <br />AND WHEREAS, the City Council desires to secure a loan and make payments with utility <br />revenues and road use tax funds, <br />NOW THEREFORE, BE IT RESOLVED by the City of Tiffin, Iowa, that the City Council <br />hereby authorizes the Mayor and City Clerk to secure financing with Solon State Bank for the <br />amount of $42,130.00 and make appropriate payments as required. If it is determined that <br />the loan is not tax exempt at Solon State Bank the municipality will be responsible for the <br />difference in the market rate. <br />On this 14th day of July 2010, at a regular meeting of Tiffin City Council, Tiffin, Iowa, Council <br />person Mike Gericke introduced Resolution 2010-33 A RESOLUTION AUTHORIZING <br />THE PURCHASE OF CITY UTILITY TRUCK WITH LOAN FINANCED THROUGH SOLON <br />STATE BANK and made a motion for approval. The motion was seconded by Council <br />person Jim Bartels. <br />AYES: Chris Ball, Jim Bartels, Mike Gericke, Mark Petersen, Travis Weipert <br />NAYS: None <br />ABSENT: None <br />WHEREUPON, Five votes by City Council approved Resolution 2010-33, Mayor Phillips <br />declared that Resolution 2010-33 be adopted and signified his approval of the same by <br />affixing his signature thereto. <br />PASSED, AND APPROVED THIS 14th DAY OF JULY 2010. <br />Cit iffin <br />j (A) <br />oy a Ph <br />& s, Mayor 40tiffin, low <br />Attest <br />Ruth Demuth, City Clerk of Tiffin, Iowa <br />