Notice to Borrow Money
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $ 4,100,000.00.
The Board of Supervisors of Wright County, Iowa, will meet on November 19, 2018, at the Board Room Courthouse basement, Clarion, Iowa, at 10:00 a.m., for the purpose of instituting proceedings and taking action on a proposal to enter into one or more loan agreements (the “Loan Agreements”) and to borrow money thereunder in a principal amount not to exceed $4,100,000 for the purpose of paying the costs, to that extent, of undertaking an urban renewal project in the 2016 Wright County Agribusiness Park Urban Renewal Area consisting of constructing road, water system, sanitary sewer system and storm water drainage improvements; and acquiring land for a business/industrial park.
The Loan Agreements are proposed to be entered into, and bonds will be issued thereunder, pursuant to authority contained in Section 331.402 and Section 331.441(2)(b)(14) of the Code of Iowa. The Loan Agreements and the bonds will constitute general obligations of the County.
At that time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreements. After receiving objections, the County may determine to enter into the Loan Agreements, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter.
At any time before the date fixed for taking action to enter into the Loan Agreements, a petition may be filed with the County Auditor asking that the question of entering into the Loan Agreements be submitted to the registered voters of the County, pursuant to the provisions of Seton 331.441(2)(b)(14) of the Code of Iowa.
By order of the Board of Supervisors of Wright County, Iowa.