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 $185,000
The City Council of the City of Ackley, Iowa, will meet on June 13, 2018, at the Ackley
Civic Center, Ackley, Iowa, at 7 o’clock p.m., for the purpose of instituting proceedings and
taking action on a proposal to enter into a loan agreement (the “Loan Agreement”) and to borrow money thereunder in a principal amount not to exceed $185,000 for the purpose of paying the costs, to that extent, of acquiring a plow truck for use by the public works and street department and acquiring a garbage truck.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 384.24A of the Code of Iowa and will constitute a general obligation of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Loan Agreement. After receiving objections, the City may determine to enter into
the Loan 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 Ackley, Iowa.