HomeMy WebLinkAboutA006 - Notice of Proposed Action published March 18, 1993 J
NOTICE OF PROPOSED ACTION TO \
INSTITUTE PROCEEDINGS FOR THE `
ISSUANCE OF AN AMOUNT NOT TO '
EXCEED $23,500,000 -\
ELECTRIC REVENUE REFUNDING BONDS
The City Council of the City of Ames,
Iowa, will meet on the 23rd day of March,
1993, at the City Council Chambers, in the
City, at 6:30 o'clock p.m. , for the purpose of
instituting proceedings and taking action for
the issuance of an amount not to exceed
$23,500,000 Electric Revenue Refunding Bonds
for the purpose of paying the cost, to that
extent, of refunding $19,535,000 of the City's
outstanding Electric Revenue Bonds, Series
1978, dated July 1, 1978.
The Bonds, when issued, will not constitute
general obligations of the City, nor will they
be payable in any manner by taxation, but will
rank on a parity with presently outstanding
$10,045,000 Electric Revenue Refunding
Bonds, Series 1991, dated May 1, 1991, and
all of said bonds, together with any
additional electric revenue bonds of the City
as may be hereafter issued and outstanding
from time to time, ranking on a parity
therewith, will be payable solely and only
from the Net Revenues of the Municipal
Electric Light and Power Plant and System of
the City.
The Bonds are proposed to be issued
pursuant to authority contained in Division V
of Chapter 384 of the Code of Iowa. At the
aforementioned time and place, oral or written
objections may be filed or made to the
issuance of the Bonds as provided by Section
384.83 of the Code of Iowa. After receiving
objections, the Council may take action for
the issuance of 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 384.25 of the Code of Iowa.
Sandra L. Ryan, City Clerk