O’Brien County Supervisors Meeting
Date posted - October 31, 2012
PROCEEDINGS OF O’BRIEN COUNTY SUPERVISORS
October 30, 2012
The Board of Supervisors met as per adjournment in regular session at 9:00 a.m. with all members present.
Moved by DeBoom, seconded by J. Haack to adopt a resolution entitled “RESOLUTION APPOINTING BANKERS TRUST COMPANY OF DES MOINES, IOWA, TO SERVE AS PAYING AGENT, NOTE REGISTRAR, AND TRANSFER AGENT, APPROVING THE PAYING AGENT AND NOTE REGISTRAR AND TRANSFER AGENT AGREEMENT AND AUTHORIZING THE EXECUTION OF THE AGREEMENT”. Motion carried by all ayes.
Moved by J. Haack, seconded by R. Haack that the form of Tax Exemption Certificate be placed on file and approved. This form is in regard to the General Obligation Refunding Capital Loan Notes, Series 2012. Motion carried by all ayes.
Moved by Farnsworth, seconded by DeBoom that the form of Continuing Disclosure Certificate be placed on file and approved. This form is in regard to the General Obligation Refunding Capital Loan Notes, Series 2012. Motion carried by all ayes.
Moved by J. Haack, seconded by Farnsworth to adopt a resolution entitled “RESOLUTION APPROVING AND AUTHORIZING A FORM OF LOAN AGREEMENT AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $1,515,000 GENERAL OBLIGATION REFUNDING CAPITAL LOAN NOTES, SERIES 2012, AND LEVYING A TAX TO PAY THE NOTES”. Motion carried by all ayes.
Moved by Farnsworth, seconded by R. Haack to adopt the following resolution. Motion carried by all ayes.
RESOLUTION APPROVING POST-ISSUANCE COMPLIANCE POLICY
WHEREAS, the County of O’Brien, sometimes hereinafter referred to as the County, is a political subdivision duly incorporated, organized and existing under and by virtue of the Constitution and laws of the State of Iowa; and
WHEREAS, various requirements apply under the Internal Revenue Code and Income Tax Regulations (hereinafter “IRS Requirements”) including information filing and other requirements related to issuance, the proper and timely use of bond-financed property, and arbitrage yield restriction and rebate requirements; and
WHEREAS, to comply with the IRS Requirements, governmental bond issuers must ensure that the rules are met at the time the bonds, capital loan notes or lease-purchase obligations (hereinafter “bonds”) are issued and throughout the term of the bonds; and
WHEREAS, this includes the continued review of post-issuance obligations and maintenance of records:
NOW THEREFORE, BE IT RESOLVED, BY THE BOARD OF SUPERVISORS OF O’BRIEN COUNTY, STATE OF IOWA, THAT THE FOLLOWING WRITTEN PROCEDURES ARE ADOPTED WHICH SHALL APPLY WITH RESPECT TO ALL TAX-EXEMPT OBLIGATIONS INCURRED BY THE COUNTY:
Section 1. The “Post Issuance Compliance Policy” (hereinafter “Policy”) attached hereto as Exhibit A is hereby adopted and approved.
Section 2. The official designated in said policy shall take any and all action necessary to property implement the policy.
PASSED AND APPROVED this 30th day of October, 2012.
Emily Waund, Chairperson
Attest: Barbara Rohwer, County Auditor
Moved by Farnsworth, seconded by DeBoom to approve the utility construction application of Leo Kuiper & Vernon Storm between Sections 6 & 7, Summit Township. Motion carried by all ayes.
Moved by R. Haack, seconded by J. Haack to approve the minutes of October 23, 2012. Motion carried by all ayes.
Moved by Farnsworth, seconded by DeBoom to approve a claim to Toshiba Financial Services in the amount of $134.53 for a copier lease payment. Motion carried by all ayes.
Moved by Farnsworth, seconded by J. Haack to authorize the Chairperson to sign a contract with Spencer Municipal Hospital for mental health inpatient and evaluation services during Fiscal 2013. Motion carried by all ayes.
Moved by R. Haack, seconded DeBoom to adjourn to November 14, 2012. Motion carried by all ayes.
Attest: Barbara Rohwer Emily Waund
County Auditor Chairperson
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