HomeMy WebLinkAboutA013 - Proceedings dated September 27, 1994Ames /419370-14/2nd 1/2 GBS/GBI F013, YOUR RECORDS
419370-14
Ames, Iowa
September 27, 1994
The City Council met on September 27, 1994, at 7:00 o'clock p.m. at the
Council Chambers, Administrative Building, in the City, pursuant to prior action of
the City Council and to law, for the purpose of taking action in connection with the
sale and issuance of $2,015,000 General Obligation Corporate Purpose Bonds, Series
1994B, and for the transaction of such other business as may come before the
meeting.
The meeting was called to order by the Mayor, and the roll being called, the
following named Council Members were present and absent:
Present: Brown, Campbell, Hoffman, Parks, Tedesco, Wirth
Absent: None
The Council investigated and found that a notice of intention to institute
proceedings for the issuance of the aforementioned bonds had been duly published
as provided by law and that this is the time and place at which the Council shall
receive oral or written objections from any resident or property owner of the City.
The City Clerk announced that no written objections had been previously filed; the
Mayor called for any oral or written objections from any resident or property owner
of the City and there being none, the Mayor announced that the Council may take
additional action for the issuance of the bonds.
This also being the time and place fixed in the published Notice of Sale for the
consideration of proposals for the purchase of the aforementioned bonds, the Mayor
announced that sealed bids had been received and canvassed on behalf of the City at
the time and place fixed therefor in the published Notice of Sale.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
Whereupon, the results of the bids were then .read and the substance of such
bids was noted in the minutes, as follows:
Name and Address of Bidder Final Bid
(net interest cost)
Ist Tennessee Bank, Overland Park, Kansas $655,358.67
Harris Trust, Chicago $659,913.67
Hutchinson Shockey, Chicago $662,076.75
Raymond James, Chicago $665,036.39
Clayton Brown, Chicago $666,095.33
Nike Securities, Lisle, Illinois $670,950
Commerce Bank, Kansas City, Missouri $673,310
Griffin, Kubik, Chicago $683,376.67
FBS Investments, Minneapolis, Minnesota $683,288.33
Council Member Hoffman introduced the resolution
hereinafter next set out and moved that the resolution be adopted, seconded by
Council Member l4irth . After due consideration, the Mayor
put the question on the motion and the roll being called, the following named
Council Members voted:
Ayes: Brown, Campbell, Hoffman, Parks, Tedesco, ',,birth
Nays: None
Whereupon, the Mayor declared the resolution duly adopted, as follows:
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
Providing for the
Corporate Purpose
pay the same
2 M
award and issuance of $2,015,000 General Obligation
Bonds, Series 1994B, and providing for the levy of taxes to
WHEREAS, pursuant to notice of the proposed action of the City Council of
Ames, Iowa (the "City") to institute proceedings for the issuance of $2,015,000
General Obligation Corporate Purpose Bonds, Series 1994B (the "Bonds") for the
purpose of paying the cost, to that extent, of the construction of works and facilities
useful for the collection and disposal of sewage and industrial wastes in a sanitary
manner and of surface waters and streams; the construction, reconstruction and
repair of street improvements; and the acquisition, construction and equipping of
works and facilities useful for the collection and disposal of solid waste, heretofore
given in strict compliance with the provisions of Chapter 384 of the Code of Iowa
and hearing held thereon, the Council may now take additional action to issue the
Bands; and
WHEREAS, Notice of Sale of the Bonds was heretofore given in strict
compliance with the provisions of Chapter 75 of the Code of Iowa; and
WHEREAS, sealed bids for the purchase of the Bonds were received and
canvassed on behalf of the City at the time and place fixed therefor in the published
Notice of Sale and the substance of such sealed bids noted in the minutes; and
WHEREAS, upon final consideration of all bids, the bid
1st Tennessee Bank, Overland Park, Kansas
the best, such bid proposing the lowest interest cost to the City;
of
is
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames,
as follows:
Section 1. The bid referred to in the preamble hereof is hereby accepted, and
the Bonds, maturing on June 1 in each of the years, in the respective principal
amounts and bearing interest at the respective rates, as follows:
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
Principal
Interest Rate
Principal
Interest Rate
Year
Amount
Per Annum
Year
Amount
Per
Annurn
1995
$170,000
4.0 %
2001
$170,000
5.10
%
1996
$170,000
4.25 %
2002
$165,000
5.20
%
1997
$170,000
4.50 %
2003
$165,000
5.30
%
1998
$170,000
4.75-%
2004
$165,000
5.40
%
1999
$170,000
— 4.85 %
2005
$165,000
5.40
%
2000
$170,000
5 - U—%
2006
$165,000
5.50
%
are hereby awarded to the said bidder at the price specified in such bid, together with
accrued interest.
Section 2. The form of agreement of sale of the Bonds is hereby approved,
and the Mayor and City Clerk are hereby authorized to accept and execute the same
for and on behalf of the City and to affix the City seal thereto.
Section 3. Pursuant to Division III of Chapter 384 of the Code of Iowa, the
Bonds are hereby authorized to be issued in the aggregate principal amount as
referred to in the preamble hereof. The Bonds shall be in the denomination of
$5,000 each, or any integral multiple thereof, shall be dated the first day of October 1,
1994, and shall become due and payable and bear interest as set forth in Section 1
hereof.
The City Treasurer is hereby designated as the Bond Registrar and Paying
Agent for the Bonds and may be hereinafter referred to as the "Bond Registrar" or
the "Paying Agent".
The City reserves the right to call and redeem part or all of the Bonds
maturing in each of the years 2004 to 2006, inclusive, prior to and in any order of
maturity on June 1, 2003, or on any date thereafter upon terms of par and accrued
interest. If less than all of the Bonds of any like maturity are to be redeemed, the
particular part of those Bonds to be redeemed shall be selected by the Bond Registrar
by lot. The Bonds may be called in part in one or more units of $5,000. If less than
the entire principal amount of any Bond in a denomination of more than $5,000 is
to be redeemed, the Bond Registrar will issue and deliver to the registered owner
thereof, upon surrender of such original Bond, a new Bond or Bonds, in any
authorized denomination, in a total aggregate principal amount equal to the
unredeemed balance of the original Bond. Notice of such redemption as aforesaid
identifying the Bond or Bonds (or portion thereof) to be redeemed shall be mailed by
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
certified mail to the registered owners thereof at the addresses shown on the City's
registration books not less than 30 nor more than 45 days prior to such redemption
date. All of such Bonds as to which the City reserves and exercises the right of
redemption and as to which notice as aforesaid shall have been given and for the
redemption of which funds are duly provided, shall cease to bear interest on the
redemption date.
All of the interest on the Bonds shall be payable June 1, 1995, and
semiannually thereafter on the first day of June and December in each year.
Payment of interest on the Bonds shall be made to the registered owners appearing
on the bond registration books of the City at the close of business on the fifteenth
day of the month next preceding the interest payment date and shall be paid by
check or draft mailed to the registered owners at the addresses shown on such
registration books. Principal of the Bonds shall be payable in lawful money of the
United States of America to the registered owners or their legal representatives
upon presentation and surrender of the Bond or Bonds at the office of the Paying
Agent.
The City hereby pledges the faith, credit, revenues and resources and all of the
real and personal property of the City for the full and prompt payment of the
principal of and interest on the Bonds.
The Bonds shall be executed on behalf of the City with the official manual or
facsimile signature of the Mayor and attested with the official manual or facsimile
signature of the City Clerk and shall have the City's seal impressed or printed
thereon, and shall be fully registered Bonds without interest coupons. In case any
officer whose signature or the facsimile of whose signature appears on the Bonds
shall cease to be such officer before the delivery of the Bonds, such signature or such
facsimile signature shall nevertheless be valid and sufficient for all purposes, the
same as if such officer had remained in office until delivery.
The Bonds shall be fully registered as to principal and interest in the names of
the owners on the registration books of the City kept by the Bond Registrar, and after
such registration payment of the principal thereof and interest thereon shall be
made to the registered owners, their legal representatives or assigns. Each Bond
shall be transferable only upon the registration books of the City upon presentation
to the Bond Registrar, together with either a written instrument of transfer
satisfactory to the Bond Registrar or the assignment form thereon completed and
duly executed by the registered owner or the duly authorized attorney for such
registered owner.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 CBS/GBI
The record and identity of the owners of the Bonds shall be kept confidential
as provided by Section 22.7 of the Code of Iowa.
The Bonds shall not be valid or become obligatory for any purpose until the
Certificate of Authentication thereon shall have been signed by the Bond Registrar.
Notwithstanding anything above to the contrary, the Bonds shall be issued
initially as Depository Bonds, with one fully registered Bond for each maturity date,
in aggregate principal amounts equal to the amount of principal maturing on each
such date, and registered in the name of Cede & Co., as nominee for The Depository
Trust Company, New York, New York ("DTC"). On original issue, the Bonds shall
be deposited with DTC for the purpose of maintaining a book -entry system for
recording the ownership interests of its participants and the transfer of those
interests among its participants (the "Participants"). In the event that DTC
determines not to continue to act as securities depository for the Bonds or the City
determines not to continue the book -entry system for recording ownership interests
in the Bonds with DTC, the City will discontinue the book -entry system with DTC.
If the City does not select another qualified securities depository to replace DTC (or a
successor depository) in order to continue a book -entry system, the City will register
and deliver replacement Bonds in the form of fully registered certificates, in
authorized denominations of $5,000 or integral multiples of $5,000, in accordance
with instructions from Cede & Co., as nominee for DTC. In the event that the City
identifies a qualified securities depository to replace DTC, the City will register and
deliver replacement Bonds, fully registered in the name of such depository, or its
nominee, in the denominations as set forth above, as reduced from time to time
prior to maturity in connection with redemptions or retirements by call or payment,
and in such event, such depository will then maintain the book -entry system for
recording ownership interests in the Bonds.
Ownership interest in the Bonds may be purchased by or through Participants.
Such Participants and the persons for whom they acquire interest in the Bonds as
nominees will not receive certificated Bonds, but each such Participant will receive a
credit balance in the records of DTC in the amount of such Participant's interest in
the Bonds, which will be confirmed in accordance with DTC's standard procedures.
Each such person for which a Participant has an interest in the Bonds, as nominee,
may desire to make arrangements with such Participant to have all notices of
redemption or other communications of the City to DTC, which may affect such
person, forwarded in writing by such Participant and to have notification made of
all interest payments.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 CBS/GBI
The City will have no responsibility or obligation to such Participants or the
persons for whom they act as nominees with respect to payment to or providing of
notice for such Participants or the persons for which they act as nominees.
As used herein, the term "Beneficial Owner" shall hereinafter be deemed to
include the person for whom the Participant acquires an interest in the Bonds.
DTC will receive payments from the City, to be remitted by DTC to the
Participants for subsequent disbursement to the Beneficial Owners. The ownership
interest of each Beneficial Owner in the Bonds will be recorded on the records of the
Participants whose ownership interest will be recorded on a computerized
book -entry system kept by DTC.
When reference is made to any action which is required or permitted to be
taken by the Beneficial Owners, such reference shall only relate to those permitted to
act (by statute, regulation or otherwise) on behalf of such Beneficial Owners for such
purposes. When notices are given they shall be sent by the City to DTC. DTC shall
forward (or cause to be forwarded) the notices to the Participants so that the
Participants can forward the same to the Beneficial Owners.
Beneficial Owners will receive written confirmations of their purchases from
the Participants acting on behalf of the Beneficial Owners detailing the terms of the
Bonds acquired. Transfers of ownership interest in the Bonds will be accomplished
by book entries made by DTC and the Participants who act on behalf of the Beneficial
Owners. Beneficial Owners will not receive certificates representing their
ownership interest in the Bonds, except as specifically provided herein. Interest and
principal will be paid when due by the City to DTC, then paid by DTC to the
Participants and thereafter paid by the Participants to the Beneficial Owners.
Section 4. The form of Bonds shall be substantially as follows:
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
(Form. of Bond)
COUNTYUNITED STATES OF AMERICA
STATE OF IOWA OF
CITY OF AMES
SERIES rr,
No. $
RATE MATURITY DATE BOND DATE CUSIP
October 1,1994
The City of Ames (the "City"), in the County of Story, State of Iowa, for value
received, promises to pay on the maturity date of this Bond to
or registered assigns, the principal sum of
in lawful money of the United States of America upon presentation and surrender
of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as
the "Bond Registrar" or the "Paying Agent") with interest on said sum, until paid, at
the rate per annum specified above from the date of this Bond, or from the most
recent interest payment date on which interest has been paid, on June 1 and
December 1 of each year, commencing June 1, 1995, except as the provisions
hereinafter set forth with respect to redemption prior to maturity may be or become
applicable hereto. Interest on this Bond is payable to the registered owner appearing
on the registration books of the City at the close of business on the fifteenth day of
the month next preceding the interest payment date and shall be paid by check or
draft mailed to the registered owner at the address shown on such registration
books.
This Bond shall not be valid or become obligatory for any purpose until the
Certificate of Authentication hereon shall have been signed by the Bond Registrar.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
This Bond is one of a duly authorized series of bonds (the "Bonds") issued by
the City pursuant to and in strict compliance with the provisions of Division III of
Chapter 384 and Chapter 76 of the Code of Iowa, 1993, and all laws amendatory
thereof and supplementary thereto, and in conformity with a resolution of the City
Council duly passed, approved and recorded for the purpose of defraying the cost of
the construction of works and facilities useful for the collection and disposal of
sewage and industrial wastes in a sanitary manner and of surface waters and
streams; the construction, reconstruction and repair of street improvements; and
the acquisition, construction and equipping of works and facilities useful for the
collection and disposal of solid waste.
The City reserves the right to call and redeem part or all of the Bonds
maturing in each of the years 2004 to 2006, inclusive, prior to and in any order of
maturity on June 1, 2003, or on any date thereafter upon terms of par and accrued
interest. If less than all of the Bonds of any like maturity are to be redeemed, the
particular part of those Bonds to be redeemed shall be selected by the Bond Registrar
by lot. The Bonds may be called in part in one or more units of $5,000. If less than
the entire principal amount of any Bond in a denomination of more than $5,000 is
to be redeemed, the Bond Registrar will issue and deliver to the registered owner
thereof, upon surrender of such original Bond, a new Bond or Bonds, in any
authorized denomination, in a total aggregate principal amount equal to the
unredeemed balance of the original Bond. Notice of such redemption as aforesaid
identifying the Bond or Bonds (or portion thereof) to be redeemed shall be mailed by
certified mail to the registered owners thereof at the addresses shown on the City's
registration books not less than 30 nor more than 45 days prior to such redemption
date. All of such Bonds as to which the City reserves and exercises the right of
redemption and as to which notice as aforesaid shall have been given and for the
redemption of which funds are duly provided, shall cease to bear interest on the
redemption date.
This Bond is fully negotiable but shall be fully registered as to both principal
and interest in the name of the owner on the books of the City in the office of the
Bond Registrar, after which no transfer shall be valid unless made on said books and
then only upon presentation of this Bond to the Bond Registrar, together with
either a written instrument of transfer satisfactory to the Bond Registrar or the
assignment form hereon completed and duly executed by the registered owner or
the duly authorized attorney for such registered owner.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
The City, the Bond Registrar and the Paying Agent may deem and treat the
registered owner hereof as the absolute owner for the purpose of receiving payment
of or on account of principal hereof, premium, if any, and interest due hereon and
for all other purposes, and the City, the Bond Registrar and the Paying Agent shall
not be affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things
required by the laws and Constitution of the State of Iowa, to exist, to be had, to be
done or to be performed precedent to and in the issue of this Bond were and have
been properly existent, had, done and performed in regular and due form and time;
that provision has been made for the levy of a sufficient continuing annual tax on
all the taxable property within the City for the payment of the principal of and
interest on this Bond as the same will respectively become due; that the faith, credit,
revenues and resources and all the real and personal property of the City are
irrevocably pledged for the prompt payment hereof, both principal and interest; and
that the total indebtedness of the City, including this Bond, does not exceed any
constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has
caused this Bond to be sealed with the facsimile of its official seal, to be executed
with the duly authorized facsimile signature of its Mayor and attested with the duly
authorized facsimile signature of its City Clerk, all as of October 1, 1994.
Attest:
(Facsimile Signature)
City Clerk
(Facsimile Seal)
CITY OF AMES, IOWA
By (Facsimile Signature)
Mayor
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
(On each Bond there shall be a registration dateline and a Certificate of
Authentication of the Bond Registrar in the following form:)
Registration Date:
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within -mentioned resolution.
(Signature)
City Treasurer, Ames, Iowa
The following abbreviations, when used in this Bond, shall be construed as
though they were written out in full according to applicable laws or regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the
entireties
JT TEN - as joint tenants with
right of survivorship and
not as tenants in common
UTMA
(Cust)
As Custodian for
(Minor)
under Uniform Transfers to Minors Act
(State)
Additional abbreviations may also be used though not in the list above.
_11-
DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 CBS/GBI
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the
undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint
Attorney, to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
(Signature guarantee must be provided in accordance with
the prevailing standards and procedures of the Registrar
and Transfer Agent. Such standards and procedures may
require signatures to be guaranteed by certain eligible
guarantor institutions that participate in a recognized
signature guarantee program.)
NOTICE: The signature to this Assignment must
correspond with the name of the registered owner as
it appears on this Bond in every particular, without
alteration or enlargement or any change whatever.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
AMeS/41YJ/U-14/Znd I/ZU5b/Ub1
Section 5. The Bonds shall be executed as herein provided as soon after the
adoption of this resolution as may be possible and thereupon they shall be delivered
to the Bond Registrar for registration, authentication and delivery to or upon the
direction of the purchaser, as determined by the City Council, upon receipt of the
purchase price thereof, with accrued interest thereon, and all action heretofore
taken in connection with the sale and award of the Bonds is hereby ratified and
confirmed in all respects.
Section 6. As required by Chapter 76 of the Code of Iowa, and for the
purpose of providing for the levy and collection of a direct annual tax sufficient to
pay the interest on the Bonds as it falls due, and also to pay and discharge the
principal thereof at maturity, there is hereby ordered levied on all the taxable
property in the City in each of the years while the Bonds or any of them are
outstanding, a tax sufficient for that purpose, and in furtherance of this provision,
but not in limitation thereof, there be and there is hereby levied on all the taxable
property in the City the following direct annual tax for collection in each of the
following fiscal years, to -wit:
For collection in the fiscal year which began July 1, 1994,
sufficient to produce the net annual sum of $ 236,256-67
(which taxes were previously levied, are currently in
collection and, as collected, are being deposited into
the Debt Service Fund hereinafter referred to);
For collection in the fiscal year beginning July 1, 1995,
sufficient to produce the net annual sum of $ 262,585.00
For collection in the fiscal year beginning July 1, 1996
sufficient to produce the net annual sum of $ 255 , '360.00
For collection in the fiscal year beginning July 1, 1997,
sufficient to produce the net annual sum of $ 247,710.00
For collection in the fiscal year beginning July 1, 1939,9,
2'635.00
sufficient to produce the net annual sum of $_
For collection in the fiscal year beginning July 1, 199319,
00 390
sufficient to produce the net annual sum of $ 2,*
For collection in the fiscal year beginning July 1, 20001P
222,390.00
sufficient to produce the net annual sum of $
For collection in the fiscal year beginning July 1, 2001,
sufficient to produce the net annual sum of $ 209,220. 00
For collection in the fiscal year beginning July 1, 20021
200,640.00
sufficient to produce the net annual sum of $
-13-
(Rev.)
DORSEY & WHITNEY. ATTORNEYS. DES MOINES. IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
For collection in the fiscal year beginning July 1, 2003,
sufficient to produce the net annual sum of $ 191,895. 00
For collection in the fiscal year beginning July 1, 2004,
sufficient to produce the net annual sum of $ 182,985. 00
For collection in the fiscal year beginning July 1, 2005,
sufficient to produce the net annual sum of $ 174,075.00
Section 7. A certified copy of this resolution shall be filed with the County
Auditor of Story County, and said Auditor is hereby instructed to enter for collection
and assess the tax hereby authorized. When annually entering such taxes for
collection, the County Auditor shall include the same as a part of the tax levy for
Debt Service Fund purposes of the City and when collected, the proceeds of the taxes
shall be converted into the Debt Service Fund of the City and set aside therein as a
special account to be used solely and only for the payment of the principal of and
interest on the Bonds hereby authorized and for no other purpose whatsoever. Any
amount received by the City as accrued interest on the Bonds shall be deposited into
such special account and used to pay interest due on the Bonds on the first interest
payment date.
Section 8. The interest or principal and both of them falling due in any year
or years, including but not limited to the fiscal year ending June 30, 1995, shall, if
necessary, be paid promptly from current funds on hand in advance of taxes levied
and when the taxes shall have been collected, reimbursement shall be made to such
current funds in the sum thus advanced.
Section 9. It is the intention of the City that interest on the Bonds be and
remain excluded from gross income for federal income tax purposes pursuant to the
appropriate provisions of the Internal Revenue Code of 1986, as amended, and the
Treasury Regulations in effect with respect thereto (all of the foregoing herein
referred to as the "Internal Revenue Code"). In furtherance thereof, the City
covenants to comply with the provisions of the Internal Revenue Code as they may
from time to time be in effect or amended and further covenants to comply with the
applicable future laws, regulations, published rulings and court decisions as may be
necessary to insure that the interest on the Bonds will remain excluded from gross
income for federal income tax purposes. Any and all of the officers of the City are
hereby authorized and directed to take any and all actions as may be necessary to
comply with the covenants herein contained.
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/GBI
The City hereby designates the Bonds as "Qualified Tax Exempt Obligations"
as that term is used in Section 265(b)(3)(B) of the Internal Revenue Code.
Section 10. All resolutions or parts thereof in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved September 27,
Attest:
City Clerk
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 CBS/GBI
On motion and vote, the meeting adjourned.
Attest:
City Clerk'
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DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
Ames/419370-14/2nd 1/2 GBS/CBI
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
I, the undersigned, City 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 authorization, sale and issuance of $2,015,000 General
Obligation Corporate Purpose Bonds, Series 1994B, and relating to the award of such
bonds and the approval of the formal contract of sale, and that the transcript hereto
attached contains a true, correct and complete statement of all the measures adopted
and proceedings, acts and things had, done and performed up to the present time in
relation to the authorization, sale, issuance and disposition of such bonds.
I further certify that no appeal has been taken to the District court from the
decision of the City Council to issue such bonds or to levy taxes to pay the principal
thereof and interest thereon.
WITNESS MY HAND and the seal of the City hereto affixed this ", ""
day of Ca��1 _.... 1994.
(Seal)
City Clerk
(Please attach a copy of the bid of the successful bidder.)
-17-
DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA
EVENSEN DODGE INC
TO: City Council and Administration
FROM: David M. Dirks
EVENSENDoDGE, INC.
SUBJECT: $2,015,000 General Obligation
Corporate Purpose Bonds, Series 1994-B
Today, September 27, 1.994, the sealed bids tabulated below were received, opened
and reviewed. The bids reflect and are indicative of the current conditions in the tax-
exempt market.
BIDDER
&,ers'
ADDRESS
,4O
kA
S NIC NIR
3
7Y,
t3
S"T Q 79
WE RECOMMEND AWARD TO �AJLr2r Alk
�)Aletl
!hank you for the opportunity to be of service to the City. We are available
answer any questions you may have on this or any other issue in the future.
100 Court Avenue, Suite 215
Des Moines, EA 50309
515/282-6138
FAX 515/282-0252
371079
Members of the City Council
City of Ames, Iowa
Sale Date: September 27, 1994
For the principal amount ot'$2,0 15,000 General Obligativii Corporate Purpose Fiends, Serics 1994-B of the City of
Ames, Iowa, legally issued and as described ill the Notice of Sale of Bonds and Teri -as of Offering, we will pay the
C4$% °.. (not less than $1,999,880) plus accrued interest on the total principal of $2,015,000 to date
of delivery, provided the Bonds bear the following interest rates.,
Interest
Y,9K
I Ws
S1701000
%
1996
170,000
1997
170,000
'Y'
1999
170,000
%
1999
170,000
ern
2000
170,000
%
Interest
YM
AMQ=
2001
$170,000
I %
2002
10,0)
7 %
2003
165,000
3, eo %
2004
165,140
2005
165,000
2006
165,000
The Bonds mature on June 1, in each of the years as indicated above and interest is payable .Mane 1, 1995, and
semiannually thereafter on December I and June I of each year,
In making this offer, we accept the terms and conditions as defined in the Notice of Sale and Terms of Offering
published in the Official Statement dated Septernher 15, 1994. All blank space: of this offer are intentional and are
not to be construed as an omission,
Explanatory Note: According to our computation,
this bid involves the following:
Net merest
'a
%
Not Interest Rate
Respectfully submitted,
Account,Nfa agerF ee Bank/K;
By
Bav ii S a st/Vice President
(A list of account members is on the reverse side of
this proposal.)
The foregoing offer is hereby accepted by and on behalf of the City of Ames, Iowa, this 27th day of September,
1994,
MW
(Title)
nsas Citv]
-XI 3000G N3SN3A3 4 Nd()G':�
K-P,�-G
FEE W
Members of the City Council
City of Ames, Iowa
Sale Date: September 27, 1994
For the principal amount of $2,015,000 General Obligation Corporate Purpose Bonds, Series 1994-B of the City of'
Ames, Iowa legall issued and as described in the Notice of Sale of Bonds and Terms of Offering, we will pay the
(not less than $ 1,998,880) plus accrued interest on the total principal of $2,015,000 to date
of delivery, provided the Bonds bear the following interest rates:
Interest
Interest
Year
Ain-QLml
Rate
YULI-ir
AiDDLILI!
1995
$170,000
%
2001
$170,000
1996
170,000
%%
2002
165,000
%
1997
170,000
T2 %
2003
165,000
5""
1998
170,000
%
2004
165,000
1999
170,000
2005
165,000
2000
170,000
2006
165,000
0
5'.
The Bonds mature on June 1, in each of the years as indicated above and interest is payable June 1, 1995, and
semiannually thereafter on December I and June I of each year.
In snaking this offer, we accept the terms and conditions as defined in the Notice of Sale and Terms of Offering
published in the Official Statement dated September 15, 1994. All blank spaces of this offer are intentional and are
not to be construed as all omission.
NOT PART OF THE BID
Explanatory Note: According to our computation,
this bid involves the following:
Net Interest ast
et Interest Rate
Respectfully submitted,
Harris Trust and Savings Bank & Assoc.
Accou 'Manager
B-
y____. . . . . ......
Carrie L . Neal Vic-e- Pr—es—ident
(A list of account members is on the reverse side of
this proposal.) (SEE ATTACHED LIST)
The foregoing offer is hereby accepted by and on behalf of the City of Ames, Iowa, this 27th day of September,
1994.
(Title)
(Title)
CITY OF AMESJOWA
Membership
Harris Trust and Savings Bank Joint
Norwest Investment Services, Inc, Managers
Ruan Securities
American National Bank and Trust Co. of Chicago
Banc One Capital Corp,
Boatmen's National Bank of St. Louis
Coughlin and Company Inc.
Dougherty, Dawkins, Strand & Bigelow Inc.
First St. Louis Securities, Inc.
Firstar Bank of Milwaukee
Isaak Bond Investments, Inc.
Mesirow Financial Inc.
Morgan Keegan & Co., Inc,
Securities Corporation of Iowa
United Missouri Bank, N.A.
U.S. Securities, Inc.
A. 11. Williams & Company
OFFICIAL, BID FORM
Members of the City COLM61
City of Antes, Iowa
Sale Date: September 27, 1994
For Chef
he principal amount of $2,015,000 General Obligation Corporate Puq-)ose Bonds, Series 1994-B ofthe City of
Anies Iowa le p fly Nist nd as described in the Notice of Sale offlonds and Terms of'Offering, we will pay the
ity t less thIM $1,998,880) PIUS aCCRIed interest on the total principal of'$2,015,000 to date
C' 1117
ol"deliv6ry, pr4ided the Bonds bear the foHowing interest rates:
Interest
Intel,est
kUltv
Y�",m
ALmwml
14tv.
1995
$170,(900
2001
$170,000
2c)%
996
f 70,000
2002
/0
1997
f 70,000
%
2003
q 65.000
,
. ....... . . .....
1998
170,000
16 %
2004
165,000
1999
170,000
- aro2005
65,000
,fir
2000
70,000
65,000
The Bonds mature on June 1, In each ofthtyears as sndicated above and interest iS jM)/,1bfe JUM,1, 1995, and
scrniannmffly lhereafter on December I andJune I ofeach yoar
In making d-ds offer, WC acceO the terms and condiWns as defined in the Notice of S)�ale and Terms (.)I ()ffeHng
published �n the Official Statement dated Septeniber � 5, 1994, AH blank spaces of" ff6s off'er m-e rntcntkmal and are
not to be construed as an omission.
NUT PART(* —HIE III[)
Explanatory Note: According to OUr COMPWafflon,
this bid invoNes the toljowjtjg�--
7-5
"�2 r
Net - Inbcres't--C,,- o-st- . ......
%
. . ........ . - ------ -
Net Interest Rate
Respectftffly submitted,
HIM'
_INS -ON SI-IEy E A1111L.,& �Q
Am,mnt riag(.1 T
fly
(A list OfaCCOLUlf rnembers is on the reverse side of
this proposal')
The foregoing offer is hereby accepted by and on behall"of the City of." Ames, Iowa, this 27th day of Septernber,
1994,
(Title)
(Title)
312-47467,7 -9 1924, 09-22 13: 31 WE440 P. 02/02
VelPribers, Of 'he City` Council
C,ftYof Arnes, Iowa,'
ROME=
For the princiral of I Sale Dat(-k. SePtorr4ber27, 1994
? Cien (�al ObLgatjoa Cnrporate purpose 80114, SL
lopfly Issued
Ciry a"d as described in tb� "jes
$4:� 11,6w, less tharis 1,998,SSO) Plus accrued, interest
r, 994-B 3f the: of NL'ti'ce Ot'Sale rf -BOxIds and City of
,Ms of 0 at . the
1've4Y, Provided the tads bear the foj30wjn8 il,tc 'est en th�, fr�rillko, We Will pay
n rest rates. total Pubicipaj ot-,S2,015,0,,
to date
fir'
ILQM" Tatere�(,,
1495 RM X,= 14ffmix Interest
17 771-1 X
1 200i
170,0()fj $170,00o
1998 2002
1999 2003
170,oco -*Z701 165,00o Z 07%
2000 20014 (
165, () 0
2005 16.5,000
2006 %
Zle Bonds mate on %a.e 4 ineach Of the yers as
'ally ther'ealte" on r)ec;ef`nbdr I and j Pa 'ndicat0d above an inrete
In r"takiAg this offer, we ac,:ept Lwe I 0--teach vear, payable jl)ne 1� and
published in the, Offic;aj Sw the temls and condiLions as deft ned z.n tl�le Notice of Sill =d TornJ& of
r,,ot be Construed ;�s t", 0M emellt dated SePtenlber 15, 1994 e )f
All blank spacesfL-rjjjg
c"r tt!�3 offer are 'nt"17tiOnal and aw
n-rE, BIT,)
R*sPecttilY submitted,
ry 'Note.' A
dais bid ljavojve,� "(fdiag to our r-002-)Ut—atjo
id
het merest es Folltwin�"
�n�tterest �Cs,.
w-1-14na er tt atere t C
77-
Net faterest (A liar of acco, t mern
this proposal.) e1nb s i Q11 tho royersE;
Offer is
1994. a"EPted by a.,d can behuji of the city ()f ,Ames '4 thi's 27t" day Of SePteraber,
(Title)
OFFICIAL BID FORM
Members of the City Council
City of Arnes, Iowa
Sale Date: September 27, 1994
For the principal amount of $2,015,000 (jeneral Obligation Corporate Purpose Bonds, Series 1994-13 of the City of
Ames, lowa, legally issued and as described in ffie Notice of Sale ofBorlds and Terms ot'Offering, we will pay the
(.',',ity (not �ess than $1,998,880) plus accrued interest oD the
toLd principal of $2',0 1 5,000 to date
of'delivery, provided the Bonds bear the following interest rates:
Interest
t Interes
Year
Y
Al i
R
1995
$170,000
2001
$170,000
996
170,000
2002
165�000
0%
997
M000
2003
l 65,000
199
970,,
70000
0--
%
5,000
165,00
%
9
�5
22000045
IN
2000
�
5t15-%,
006
165M0
0%,
The 11on(Js inature on June 1, kr each of flw, years as indicated above and ijnteres,k paH yae JLUW' 1 9 , �95, and
semiamivafly thereafter on Dec.einber d affil,lllnc1 of'each yedr.
In truaking this oft"er, we accept tfie terms coulduflons as defined in the Nodee of 1,�ide .g(j J'ej-jaj.s r)J'C)fferjng
published in the Offic,aal Stag ernent dated September 15, 1994, AH Wank spaces of olk oftcr are intentional and are,
not to be construed as an omission,
N OT PA RT 0 F H I I ," 1311 )
I xplanatory Note: According to our con-aprjwik)n,
this bid involves the fifljo\viajg:
Net interest Cost
Net Interest Rate
Respecd1ffly subnflne(j,
MAYTON BROWN & AS=IATE% WM
Account Manager
I -
By-
V -M
-fe revcrse side of'
[Diane � -,- A: A .. - - I — — 693
T, the�,
(A list of aCCOUnt members is
this proposal)
The flare rain offer is hereby
1994. t, accepted by and on behalf of the City of .Armes, Iowa, this 27th day of September,
(Title) e
SENT BY: 9-27-194 ; 8:10AM EVENSEN DODGE INC-
DES WINES;# 2/ 3
memba I of the city Comi I
City of , M1111, laws Sole Date., -41008mber 27, 1994
For the, fi"CiPal amount of $2.01 J,W0 General Obligation COW"I# Pul-P084 Hon4, Serie.* 1 "4-8 of the City Of
Ames. I WI le all issued and as deledbed in the Notic# of ;Wc 6f Rondy, and Term,, of c)frt, ini,, we will p y ahC
less that] plus accrued imemo on the total pgincjpa� OFS1
of' de I Y, provided the lionils here -the following 1111CreV. rates: 4'(11 SdrtJtJ to date
t
A4= katy
199 $1 57161%
165, 00
2X3 165,W41 15
2004
j
of
200 Vw; &SPW
IU 134 mature im) Jujte 1, It, egch 01, tr,, )0,11$ ,as u.zlic;ttaci above 4nj interest is Pajablc lumv 1, ("5, and
theirafter or Dwembet, 1 arxi )jjno I Of Mh year.
In MR, 11 this
11 we ACCti)t the tenets mid Conditions as defined In Ille Noilce iIfRile Md Fortmi ol'011crint; Pu h I i-%I, I the `;C ial S%Uterm�-nt dated zq, M! hl
Doi to be nsmed as an omission.
1094 :Ink $J'WfS Of 111ji 01TL-r �L, :nkQ,jtj0jj3,1 njid jjr#
NOT PA i T OFT] IE BID kitspLutflully Nubmilted.
Ex7pan rj Note: Accordino (III I
this hid jistv�olvfn the fol 1 wing: 'Lke Se
r
Not Inter st st
Prancine Eckin Td.
(A list al` account menibtri j ore the revegw $jdli of
Net !rite t Rate
'Me fore is hereby accepted hY andran i"�Plr (sUthe City of Amrj,
1994. 11OWN, Illxx 211h dAy of SeptCrrihe,,
(Title)
TCTqL P.02
OFFICIAL BID FORM
Members of the City Council
City of'Atnes, Iowa
Sale Date: September 27, 1994
For the principal amount of'$2,015,000 General Obligation C'orporate Purpose Bonds, Series 1994-B of the City of
Ames, Iowa, legally issued and as described in the Notice of Sale of"Bonds and Terris of Offering, we will pay the
City $ '. 60.�A32.1�'7(not less than $1,998,880) plus accrued interest on the total principal of $2,015,000 to date
of delivery, provided the Bonds bear the following interest rates:
YI-Q41
Atn Li I
Interest
Raw
Interest
-Q -n
Y-Q.ar
Ajn.Qmw
M.g.
1995
$170,000
2001
$170,000
%
1996
170,000
2002
165,000
3
1997
1998
170,000
2003
165,000
1999
170,000
170,000
%
2004
2005
165,000
-%
2000
16�5,000
%
170,000
2006
165,000
.%
"I'lie Bonds mature on June 1, in each of the years as indicated above and interest is payable June 1, 1995, and
semiannually thereafter on December I and June I of each year.
In making this offer, we accept the terms and conditions as defined in the Notice of Sale and Ternis of'01-Tering
published in the Official Statement dated September 15, 1994, All blank spaces of this offer are intentional and are
not to be Construed as an omission.
NOT PART OFTFIE BID Respectfully submitted,
Explanatory Note: According to our corriputation,
this bid involves the following:
......... . . . .. ..........
N--XFni-e,-esi-
ost .
7-'
%
Net Interest Rate
Commerce Banic of K.C.
..........
Account Manager
By___..._
Carrot. Cli.ftorl. A. P.
(A list of account inernbers is on the reverse side of
this proposal.)
1"he foregoing offer is hereby accepted by and on behalf of the City of Ames, Iowa, this 27th day of September,
1994,
(Title)
(Title)
OFFICIAL BID FORTY1
Members of the City Cot,ncil
Sale Date: Septernbcr 21, 1994
City of Arnes, Iowa
1gor the principal antount of $2,011,000 General 0b9jgjti<)jj Corporate Purpose Bonds, Serie4 1994-B of the City of
B()rld' and 'I'erms of ()ffering, we will pay the
Ames Iowa le ally issued and as described in the Notice of Sale (W
'No interest on
the total PriticiPAI Of S2,015,OW to date
.—I ___ (riot less than $1,998,880) phis accrued
of delivery, provided the Bonds bear the foltowhig interest rates:
I Wrest
Interest
-f&d
Amu= RAW
%
165,000
1996 170,000 �90 11002
1997 1 70,fY)O 5� 0 2003
165,000 %
77- — 21104
1998 170,000 45
2005
165,000
165,000
170.'Coo
1999 2006
165,M)
2000 170,000
The Bonds mature on June 1, in each of the years as indicated above and 'interest is payable June 1, 1995, and
semiannually thereatter On December I anjj jijae I of each year»
In making thi4 offer, we accept the teens and conditions as dCF)TWd in the Notice of Sale and Ternis of Offering
published in the Official Statellit,"'t dated Sept crahet 15, 1994, All blank spaces of this offer are intentional and are
not to be construed as an omission.
NOT PARX01,THE, BID jtespectfujly submitted,
C,y,planarory Note: ACCOTI.Hrig FO our —computatioll,
this bid involves the following:
6, Pr
bier tnteres�ost
%
IWWi—ntC;est state
Account Manager
By- —Awt--e—
(A list of account members is on the reverse side of
this proposai.) STEVEN C, BPOWN
SENIOR VICE PRESIDENT
The foregoing offer is hereby accepted by and On behalf of tile City of Ames, Iowa, this 27th day of September,
1994,
T 0' d SOCI * ON SO: S TOILO '�,HW : U I
SENT 13Y9-27-94 1:18PM EVENSEN DODGE I NC - 515 239 53251# 2/ 2
OFFICIAL BID FORM
MOM, s of the city council
City )fVmes; Iowa
Salo Date: September 27, 1954
For the e, oK nincipal 4MOUnt of S2,015'000 General obligation Corporate Purpose Bonds, Series 1994-B of the City of
City $
w
wa,lealj,
AmsIP ued and as described in the Notice Of Sale of Bonds and Terms of Offering, we will pay the
(not law than S 1,998,880) Plus accrued interest on the total Principal of S2,0 150000 to date
Of duli rY, PrOvidod the Bonds beat the following LAtoreSt rates:
Y Interest Interest
Atnoun
19 5 $170,000 '�9 U
19 6 170,000 2001 $1 70,00o
19 170,()00 2002 165.000
0
/6 203 165.000
79 8 170,000
5 % 2004 165,000
19 9 170,000 "Z 0/,
2 0 0 2005 165,000 %
170,000 L—jL
2006 165,000
19 6 19 4, 1;-1 % 4'L��
79 8 1 21 9 9 0
The Bo ds mature on June I, in each Of the Years as indicated above and interest is payable June 1, 1995, and
semi i ,ally thereafter, on December I and June I of each year.
In maki 9 this offer, we accept the terms and conditions as defined in the Notice of Salt eu)d Terms of Offering
publish in the Official Statement dated September 15, 1994. All blank spaces of this offer are intentional and are
not to b construed as an omission.
NOT PART OF TME all)
Zrj� Y �ACCOTOM& to our computation,
wives
bb the following:
The 1
1994,
(Title)
Kom
t Rate
Respectfully submitted,
FBS 1"NVESTM&NT SERVICES INC
Account 'Ma er
i le Harr Vj�e presida
A list nt
0 account members n the reverse side of
Lhis proposal.)
,offer is hereby accepted by and on behalf of the City Of Ames, Iowa, this 27th day of September,
(Title)
Ames/419370-14/2nd 1/2 GBS/GBI
STATE OF IOWA
SS:
� �9 a �101
I, the undersigned, County Auditor of the aforementioned ' XCounty, in the
1�) t,
State , of Iowa, do hereby certify that on the` 7- day of
11. 7 1994, the City Clerk of the City of Ames, Iowa, filed
in my office a certified copy of a resolution of such City shown to have been adopted
by the Council and approved by the Mayor thereof on September 27, 1994, entitled:
"Resolution providing for the award and issuance of $2,015,000 General Obligation
Corporate Purpose Bonds, Series 1994b, and providing for the 'levy of taxes to pay
the same," and that I have duly placed the copy of the resolution on file in my
records.
I further certify that the taxes provided for in that resolution will in due time,
manner and season be entered on the State and County tax lists of this County for
collection in the fiscal year beginning July 1, 1995, and subsequent years as provided
in the resolution (the taxes for collection in the fiscal year which began July 1, 1994,
having been previously levied and being currently in collection).
WITNESS MY HAND and the seal of the County hereto affixed this
day of 1994.
(Seal)
-18-
(Rev.)
DORSEY & WHITNEY, ATTORNEYS, DES MOINES, IOWA