HomeMy WebLinkAbout~Master - General Obligation Corporate Purpose Bonds, Series 1995 - $10,035,000 DOiE?SEY & WHITNEY
PROFESSIONAL LIMITED LIABILITY PARTNERSHIP
DES MOINES RESIDENT ATTORNEYS 801 GRAND, SUITE 3900 MINNEAPOLIS, MINNESOTA
DES MOINES, IOWA 50309-2790 NEW YORK,NEW YORE
ROBERT H. HELMICK (515) 283-1000 WASHINGTON,D.C.
DAVID L.CLAYPOOL DENVER,COLORADO
FAX (515) 263-1060
ROBERT E.JOSTEN FAROO,NORTH DAKOTA
EDWIN N. McINTOSH ROCHESTER,MINNESOTA
NORENE D.JACOBS BILLINGS,MONTANA
N
DENNIS W. AL TANA JOHNSON R
April 7, 1995 6 M SOULA TA CA
STEVEN J. DICKINS ON 47
JEFFREY M.HURLBURT
DAVID D.GROS SKLAUS LONDON ND
Sandra L. Ryan SEL IIIM
City Clerk E
I
City Hall, P.O. Box 811 CITY CLERK
515 Clark Avenue CITY OF AM I
Ames, IA 50010
Re: Ames, Iowa
$10,035,000 General Obligation Corporate Purpose Bonds, Series 1995
Our File No. 419370-15
Dear Sandra:
We have prepared and enclose the necessary proceedings for the April 11th
meeting to carry out the hearing and sale and to adopt the resolution amending
Resolution No. 95-131 (adopted on March 28th) and issuing the Bonds. You will
note that the enclosed resolution must be completed with the interest rates at which
the Bonds are sold and the resulting tax levy amounts. As Jeane discussed with
Alice, the estimated tax levy amount set out in Resolution No. 95-131 will remain
the same, but we have provided blanks for the remaining tax levy amounts to be
inserted. We understand that a representative of Evensen Dodge will be attending
your meeting and will assist you in completing this resolution.
The proceedings enclosed are as follows:
1. Minutes of the meeting providing for the hearing and sale, followed by
the resolution awarding and issuing the Bonds.-'
The blanks in the form of Bond, the form of Certificate of Authentication and
the form of Assignment included as part of the resolution need not be completed or
executed as these are adopted only as to form.
2. Certificate attesting the transcript, to which should be attached a copy of
the successful bid.
3. Certificate of the County Auditor relating to the filing of a certified copy
of the Bond Issuance Resolution in that office. --
Page 2 DORSEY & WHITNEY
On April 11th, the City Council should meet as scheduled and hold the
hearing on the issuance of the Bonds. The minutes as drawn assume that no
objections will be filed or made. The City Council should then consider the bids
which have been received for the purchase of the Bonds.
Assuming that a satisfactory bid is received, the resolution awarding and
issuing the Bonds should be completed and adopted. All members of the Council
present should vote upon the adoption of the resolution, and the vote of each
member should be called and recorded by name.
When completed and executed, a certified copy of the resolution must be filed
with the Story County Auditor, and we have enclosed an extra copy of the
resolution for this purpose.
The County Auditor has a mandatory duty to make a levy of taxes to pay
principal of and interest on the Bonds unless the City's budget each year
affirmatively shows that the tax should not be levied because other funds will be
applied to the payment of the Bonds for that budget year. To the extent the City
determines that property tax levies will be needed for payment in any year, the tax
levy amounts needed must be certified for that year in the City's budget as part of
the debt service fund, and the funds derived from sources other than taxes must be
shown on the appropriate budget document.
As these proceedings are completed, please return one fully executed copy to
our office.
If you should have any questions or if any difficulties arise, please be sure to
contact our office.
Sincerely yours,
Robert H. Helmick
RHH:cdm
Ames/419370-15/2nd 1/2 CBS/Amend GBI
Enclosures
cc: Steven Schainker
Alice Carroll
John Klaus
Dave Dirks
Deborah J. Nistler