NOTICE OF MEETING OF THE City Council OF the City of Marcus, IOWA ON THE MATTER OF THE PROPOSED AUTHORIZATION OF A LOAN AND DISBURSEMENT AGREEMENT AND THE ISSUANCE OF not to exceed $235,000 WATER REVENUE CAPITAL LOAN NOTES, AND THE PUBLIC HEARING ON THE AUTHORIZATION AND ISSUANCE THEREOF
PUBLIC NOTICE is hereby given that the Council of the City of Marcus, Iowa, will hold a public hearing on the 9th day of June 2025, at 7:30 o’clock A.M., in the Council Chambers, City Hall, 222 North Main Street, Marcus, Iowa, City of Marcus, Iowa, at which meeting the Council proposes to take additional action for the authorization of a Loan and Disbursement Agreement by and between the City and the Iowa Finance Authority, and the issuance to the Iowa Finance Authority of not to exceed $235,000 Water Revenue Capital Loan Notes to evidence the obligations of the City under said Loan and Disbursement Agreement, in order to provide funds to pay the costs of acquisition, construction, reconstruction, extending, remodeling, improving, repairing and equipping all or part of the Municipal Water System, including the design and construction of new wells. The Notes will not constitute general obligations or be payable in any manner by taxation but will be payable from and secured by the Net Revenues of the Municipal Water System.
The proceeds of the Water Revenue Capital Loan Notes may be applied to pay project costs directly or to pay interim financing which the City will issue in anticipation of the future receipt of funds or Note proceeds applicable to the foregoing project and purpose.
At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City, to the above action. After all objections have been received and considered, the Council will at this meeting or at any adjournment thereof, take additional action for the authorization of said Loan and Disbursement Agreement and the issuance of Notes or will abandon the proposal to issue the Notes.
This Notice is given by order of the Council of City of Marcus, Iowa, as provided by Sections 384.24A and 384.83 of the City Code of Iowa, as amended.
Dated this 12th day of May, 2025.
City Clerk, City of Marcus, State of Iowa
Published in the Marcus News on May 22, 2025