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Home My WebLink AboutA003 - Proceedings dated August 25, 1998 1 Ames/419370-19/1st�/2 GO Bond Hrg&Auth Sale For Your Pecords MINUTES TO SET DATE FOR HEARING ON ISSUANCE AND AUTHORIZING SALE OF BONDS 419370-19 Ames, Iowa August 25, 1998 The Council of the City of Ames,Iowa, met on August 25, 1998, at 7:00 o'clock P m., at theCity Hall CounQil chambersin the City. The Mayor presided and the roll was called showing the following Council Members present and absent: Present: Campbell, Cross, Hoffman, Parks, Quirmbach, Wirth Absent: None Council Member Parks introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Ouirmbach ; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted: Ayes: ��Cross,Hoffman, Parks, QLirmbach., Wirth Nays: None Whereupon, the Mayor declared the said resolution duly adopted, as follows: -1- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st V2 GO Bond Hrg&Auth Sale RESOLUTION NO. 98-427 To fix a date of meeting at which it is proposed to take action for the issuance and authorizing the sale of General Obligation Refunding Bonds WHEREAS, the City of Ames, Iowa (the "City"), proposes to issue not to exceed $ 3,400,000 General Obligation Refunding Bonds (the "Bonds"), pursuant to the provisions of Division III of Chapter 384 of the Code of Iowa for the purpose of paying the cost of refunding $3,125,000 of the City's General Obligation Corporate Purpose Bonds, dated June 1, 1992, and it is necessary to fix a date of meeting of the Council at which it is proposed to take action for the issuance of the Bonds and to give notice thereof as required by such law; NOW,THEREFORE,It Is Resolved by the Council of the City of Ames, Iowa, as follows: Section 1. This Council shall meet on the 8 h day of September , 1998,at the Council Chambers, City Hall, in the City, at 7:00 o'clock _.m., at which time and place proceedings will be instituted and action taken for the issuance of the Bonds. Section 2. The City Clerk is hereby directed to give notice of the proposed action for the issuance of the Bonds setting forth the amount and purpose thereof, the time when and place where the said meeting will be held,by publication at least once and not less than 4 nor more than 20 days before the meeting, in a legal newspaper published at least once weekly, and of general circulation in the City. The notice shall be in substantially the following form: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st V2 GO Bond Hrg&Auth Sale NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS The City Council of the City of Ames, Iowa, will meet on the 8th day of 1pnteml er , 1998, at the Council Chambers, City Hall, in the City, at 7:00 o'clock P.m., for the purpose of instituting proceedings and taking action for the issuance of not to exceed $ 3,4 00,000 General Obligation Refunding Bonds for the purpose of paying the cost of refunding $3,125,000 of the City's outstanding General Obligation Corporate Purpose Bonds, dated June 1, 1992. The Bonds, when issued, will constitute general obligations of the City. At such time and place the Council shall receive oral or written objections from any resident or property owner of the City. After receiving objections,the City may determine to issue the Bonds, 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 and pursuant to Section 384.26(5)(a)(2) of the Code of Iowa. Jill Ripperger City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st�/2 GO Bond Hrg&Auth Sale Section 3. The City Manager and City Finance Director,with the assistance of Evensen- Dodge, the City's financial consultant, and Dorsey & Whitney LLP, the City's bond counsel, are hereby authorized and directed to proceed with the sale of the Bonds on behalf of the City,to fix the amount of the Bonds to be offered for sale in a principal amount not exceeding $ 3,400,000 , to fix the principal maturities of the Bonds,to select a date for the sale of to exceed Bonds, to cause to be prepared such sale information as may appear appropriate and distribute the same on behalf of the City and this City Council, and otherwise to take all actions necessary to permit the sale of the Bonds on a basis favorable to the City and subject to the approval of the City Council. Section 4. After the City Manager and City Finance Director have selected a sale date and fixed the amount, principal maturities and other terms of the Bonds, a notice of sale shall be prepared by Dorsey&Whitney LLP, and the City Clerk shall publish such notice by publication at least once and not less than 4 nor more than 20 days before the meeting in a legal newspaper published at least once weekly and located in Story County. Section 5. All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed to the extent of such conflict. Passed and approved August 25, 1998. Mayor Attest: City Clerk -4- DORSEY&WIHTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st'/:GO Bond Hrg&Auth Sale On motion and vote, the meeting adjourned. Mayor Attest: City Clerk -5- DORSEY&WIRTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st 1/2 GO Bond Hrg&Auth Sale • STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, Clerk of the aforementioned City, do hereby certify that attached hereto is a true and correct copy of the proceedings of the Council of the City relating to the fixing of a date for the hearing of the issuance and authorizing the sale of General Obligation Refunding Bonds. WITNESS MY HAND and the seal of the City hereto affixed this 25th day of August , 1998. City Clerk (Seal) -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-19/1st 1/z GO Bond Hrg&Auth Sale (PLEASE NOTE: Do not date and return this certificate until you have received the publisher's affidavit and have verified that the notice was published on the date indicated in the affidavit,but please return all other completed pages to us as soon as they are available.) STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, Clerk of the aforementioned City, do hereby certify that pursuant to the resolution of its Council fixing a date of meeting for a hearing on the issuance and authorizing the sale of General Obligation Refunding Bonds, the notice, of which the printed slip attached to the publisher's affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City. WITNESS MY HAND and the seal of the City hereto affixed this day of , 1998. City Clerk (Seal) (Attach here publisher's original affidavit with a clipping of the notice as published.) -7- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Proof Of Publication In THE TRIBUNE STATE OF IOWA,STORY COUNTY,ss. I,Craig McMullin/Joan Rost,on oath depose and say that I am President/Controller of DAILY TRIBUNE,a daily newspaper,printed at Ames,Story County, Iowa;that the annexed printed LEGAL NOTICE - NOTICE OF PROPOSED ACTION TO NOTICE OF PRO I OSED ACTION 1SSUA TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE INSTITUTE PROCEEDINGS FOR THE OF GENERAL OBLIGATION OF GENERAL OBLIGATION REFUNDING BONDS ty council REFUNDING BONDS the 8throfSeptembof the City of Ames,Iowa,will meet on was published in said newspaper for 1 Hall,in the City,at 7;00 o'clock Council Chambers,city consecutive week(s)September 1, 1998 nnostti otin,proceedings and taking option fo3 4r the issuance of and the last of said publication was on the Bonds fortheSurpose00 General Obligation Refunding 1 st day of September, 1998. 83.125,000 purpose of paying the cost of refundin e of the City's outstanding Corporate Purpose Q y's General Obligation The .dated June I,1992. Bonds, when issued, obligations of the wdl constitute a e City general 41 �i At Such tirnc and plpcc,th l 1 C t wntten objections rroin'an ��j�upcl•shfll receive oral or resident bi pr°pert the City Alter receiviq�=db•E � Y owner of determine to issue the bond J +�PRIhe City may will be final unless s,in which case,the decision fineen ) Y appealed to the District Court within sworn to before me and subscribed in my (IS days thereafter. presence by Craig McMullin/Joan Rost sect o�order rd ze of the city Council and pursuant to this 4th day of September 1998 ( )(a)(2)of the Code of Iowa. t Jill Ripperser City Published in The Tribune,Clerk VIRGIN�IA A.BRAT NAN September.1, 1998. COMMISSION EXPIRES Notary Public in and for the State Of Iowa My commission expires 11/28/2000. FEES: $9.94 NO.40959 AMES05