HomeMy WebLinkAboutA015 - Proceedings from May 23, 1995 meetingAmes/419370-10/lst 1/2 N/I & Auth Sale
YOUR RECOFic>'
I = - = - = - = -M = - = -
F.A141,641 Pin Veff,"qui I; M *4 FAMT.All X w9i W 1019JOI
Ames, Iowa
May 23,1995
The Council of the City of Ames, Iowa, met on May 23, 1995, at 6:30
o'clock . P. m., at the Council Chambers, City Hall, in the City. The Mayor
presided and the roll was called showing the following Council Members present
and absent:
Present: Campbell, Hoffman, Parks, Wirth, Tedesco
Absent: _Brown
Council Member Parks introduced the resolution
hereinafter next set out and the said Council Member moved its adoption, seconded
by Council Member Hoffman ; 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: Campbell, Hoffman, Parks, Tedesco, Wirth
Nays: None
Whereupon, the Mayor declared the said resolution duly adopted, as follows:
-1-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
RESOLUTION NO. 95-22i
To fix a date of meeting at which it is proposed to take action for the
issuance of not to exceed $4,500,000 Sewer Revenue Refunding Bonds,
Series 1995, and authorizing the City Manager and City Finance
Director to set the terms and the date for the sale of such bonds and to
provide for the advertisement thereof
WHEREAS, the City of Ames, Iowa (the "City"), did heretofore establish a
Municipal Sanitary Sewer System in and for the City (hereinafter referred to as the
"Utility"), which has continuously supplied sanitary sewer service in and to the City
and its inhabitants since its establishment; and
WHEREAS, the management and control of such Utility are now vested in
the Council of the City, and no board of trustees exists for this purpose; and
WHEREAS, pursuant to a resolution adopted and approved by the City
Council on April 21, 1987, there have been heretofore issued $4,230,000 Sewer
Revenue Bonds, Series 1987A, dated May 1, 1987, of which $2,725,000 are now
outstanding (the "Series 1987A Bonds"), and in and by such resolution the right was
reserved to the City to prepay the $2,450,000 Series 1987A Bonds which are scheduled
to mature on December 1 in each of the years 1996 to 2002, inclusive (the "Optional
Series 1987A Bonds"), prior to maturity on December 1, 1995, or on any interest
payment date thereafter upon terms of par and accrued interest); and
WHEREAS, pursuant to a resolution adopted and approved by the City
Council on December 8, 1987, there have been heretofore issued $2,375,000 Sewer
Revenue Bonds, Series 1987B, dated December 1, 1987, of which $1,550,000 are now
outstanding (the "Series 1987B Bonds"), and in and by such resolution the right was
reserved to the City to prepay the $1,440,000 Series 1987B Bonds which are scheduled
to mature on December 1 in each of the years 1996 to 2002, inclusive (the "Optional
Series 1987E Bonds"), prior to maturity on December 1, 1995, or on any interest
payment date thereafter upon terms of par and accrued interest; and
WHEREAS, pursuant to the provisions of Division V of Chapter 384 of the
Code of Iowa, the City proposes to issue its Sewer Revenue Refunding Bonds, Series
1995 (the "Bonds") in an aggregate principal amount not to exceed $4,500,000, for the
purpose of paying the cost, to that amount, of refunding the Optional Series 1987A
Bonds and the Optional Series 1987B Bonds, and it is necessary to fix a date of
meeting of the City 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;
-2-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
NOW, THEREFORE, It Is Resolved, by the Council of the City of Ames, Iowa,
as follows:
Section 1. This Council shall meet on the 13th day of June, 1995, at the
Council Chambers, City Hall, in the City, at 7:00 - o'clock _a.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 four nor more than twenty 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:
-3-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
Saslow,
; 19 M1
The City Council of the City of Ames, Iowa, will meet on the 13th day of June,
1995, at the Council Chambers, City Hall, in the City, at 7:00 o'clock P . rn -,
for the purpose of instituting proceedings and taking action for the issuance of not
to exceed $4,500,000 Sewer Revenue Refunding Bonds, Series 1995, for the purpose
of paying the cost, to that extent, of refunding $2,450,000 of the City's outstanding
Sewer Revenue Bonds, Series 1987A, dated May 1, 1987, and $1,400,000 of the City's
outstanding Sewer Revenue Bonds, Series 1987B, December 1, 1987.
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
unrefunded portions of the Series 1987A Bonds and the Series 1987E Bonds, and all
of said bonds, together with any additional sewer 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
Sanitary Sewer 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.
Iowa.
By order of the City Council and pursuant to Section 384.25 of the Code of
Sandra L. Ryan
City Clerk
-4-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & 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 P.L.L.P.,
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 at not exceeding $4,500,000, to fix the principal maturities of the Bonds, to select
a date for the sale of the 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 acceptable to 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 P.L.L.P., 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 thereof in conflict herewith be and the
same are hereby repealed, to the extent of such conflict.
Passed and approved May 23,1995.
Attest:
City Clerk
-5-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
On motion and vote, the meeting adjourned.
Attest:
City Clerk
'Nfayor
-6-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1 st 1/2 N/I & 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 initiation of the sale and issuance of not to
exceed $4,500,000 Sewer Revenue Refunding Bonds, Series 1995.
WITNESS MY HAND and the seal of the City hereto affixed this 2 3rd
day of MaY 1 1995.
(Seal)
City Clerk
-7-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
1, the undersigned, City Clerk of the aforementioned City, do hereby certify
that said City did heretofore establish a Municipal Sanitary Sewer System
(hereinafter referred to as the "Utility") and that the Utility has been in continuous
operation by the City since its establishment as aforesaid in supplying sanitary sewer
service to the City and its inhabitants.
I further certify that the management and control of the Utility are vested in
the Council of the City, and that no board of trustees exists which has any part of the
control and management of such Utility.
I further certify that the City has no bonds or other obligations of any kind
now outstanding which are payable from the revenues derived from the operation
of the Utility, except as follows:
Date Type Amount Maturity
05/01/87 Series 1987A $275,000 December 1, 1995
(excludes maturities
to be refunded)
12/01/87 Series 1987B $150,000 December 1, 1995
(excludes maturities
to be refunded)
(Attach here a separate sheet listing any other obligations payable from
the revenues of the Utility, excluding the proposed issue and excluding
the Series 1987 Bonds to be refunded.)
-8-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
Ames/419370-10/1st 1/2 N/I & Auth Sale
I further certify that the annual earnings and annual operating expenses in
connection with the operation of the Utility for each of the years indicated have
been as follows:
Operation and
Net Revenues from
Maintenance Expenses
Operation Before
Fiscal
(do not include Bond
Payment of Capital
Year
Debt Service and Capital
Expenditures and Bond
Capital
Bond Debt
Ending
Gross Revenues
Expense Items)
Debt Service
Expenditures
Service
1991
$3,885,035
$1,886,765
$1,998,270
$ 529,681
$1,101,888
1992
$4,042,158
$2,133,633
$1,908,525
$ 626,246
$1,123,725
1993
$3,784,463
$2,249,354
$1,535,109
$ 582,034
$1,118,419
1994
$3,761,659
$2,421,893
$1,339,766
$1,341,638
$1,097,178
1995
$3,863,021
$2,592,749
$1,270,272
$1,105,462
$1,110,205
(projected to
end of fiscal
year)
I do further certify that attached hereto is a true, correct and complete copy of
the present rate ordinance for the Utility.
(Attach a copy of the current rate schedule).
I do further certify that the present number of connections of users to the
Utility for residence, business properties and others is 11.657
(Seal)
WITNESS MY HAND and the seal of the City this 'I] day of
May 1995.
Q,
City Clerk
-9-
(Rev.)
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA
I I
-0 -0 CD 0 c cm 0
.0 (D Q)
CZ
c
0
(n E 0 cz 0 C:� cz a — C) co
cz cz — 0 0 C) 0
0 C: 0
o 0
0
C: co
" c 0 a) 0
E
CZ CZ - 0 - a E .2 a E —cz
M"
C\j a) 0 CY) M w0
Q) c E
0 Q) CJ 0 C3 CL
CD 0)
CL (D Co 64-0 " cz 6e+ �o C2 •co
El a) CZ a)
M 0 C: z:f- 83 (=n E — co . a)
0) C) 0 0 0 = C C)-
05 'E C-)
c
�o CJ CD C: m A.0 a)
(n
"0 C:) 0-0
cz m m m c Co E E E —Ct 0— C(E D CD D
= 0) —Cn a) *ZY 0 co E P
C-) C) CZ
•
4-
C: (D
0•
cz
CL
E =
" w m m •C3
CL cu (n
000000000000
000000000000
wNtn000000000
61�N LO 0 C) 0 0 0 0 0 0
. . . . . . . . . .
0
m al
N cy)
x
0"" 1` . . . .
bo. . . . > . . . . . .
E
CL :3
0
Cl
Qq- ) CO C\J N N M "T W M —
cz.g -Ft a) cm c -0
(n E•Co
>1 c:
E X 0)
0 C.) 0 CL
-0 C: it .
cz co (n
_0
.2 E c E•E
" 0
0 E
• 0 co
A ) C> 0-
"D
M ) co 0
c a) ct
a)
o E CL 0
A Mt
co 0
cz 0_ 7 CL
C)
Q) 0 CD
— C\j
0
> — CL.
cz a) E co
co
a Q) -I-- CL Q) CD
— 0 u . E
cz cz 0 M C) +1 0
a) 3: " o U)
Q)
�L w 0 0)
0) =3 Z
can) —C;) A0
co
>'(D M 0 0 a)
C: (n 0) co m a)
0
0 a) CO
C3) C En
0 M — 0 0 •
co 0 w
-C cd
Q 0) --a 0) 0 Cci
•
U) tt CL
a) cz Q)
cz
CZ CZ a)
Q) C- 0)
0 0 -0
ui
co cz C—Z c"t —0
C:M E
cz o
( n i
Q) (n 8 E
r- C -IM
0 U)
— J--
co co 0— >1 0• E co
um)—w—Ww
co CL Q) 0
0 0 0 "
<CLOU-3:000--o
11
m
CD
-a "I (n 0
a) M —
_0 a) C:
>
>
0
0
0
0
o
0
0 0 c
CD
0 -C
00 m
cz
E
U) 0MII
C'A
LU 0 U)
M
.— r-
Ct)
W 0
cn
U)
ul♦
0
0 0
C:, =
Z co
E
0
0
E
—
0 •Z
(D
0
ui
E
E
-0
0
E E E
cz
W CL-0.5;
EY.
6"Im, � =
CD
CL
cn — 0) E D-
CL
0
0
0 U�
o 0
CD 0
co a)
N•
a
w OL
co
cf) cz
?�"o co
a)
a)
(D
E
cD a)
i5 CZ a)
E
E
Q)
CO
'IT
E
0
0 " (D
U")
. CO
C\J CIO
ui m o 4;
emu` c0 Fr U) z z 0 U) —0 - CL a -1
5.0 K 2 Z 21 (D Z 21 CJ) (D 5 c SO: 8 Z 21 In f 21 (n z :'3 (CII
Tug Lo 0 S' < CD (D
m .con z 7 -2.' m A 'ZD 0- 3 o 0 LO 5' 0 a 0
0- o (D x - Z x
ul CL -P, 0--
25- CS 3
to - 8 (D § M
05. , - a 0
a -4 C- c r
0 w m o 3 2r
m
0 cr
(D Ch (0 o, 2r
m N w M (D
cc q-) t'a
, (,? = @ S. 00 0 a)
(D
0 =r (D =r 0 c o 2 ID 3
-a cr
3
(D
9 o
0' SL 3 (D m 0 - : 0
Cl Fr 0 , . : . - Z . (WD 3CO w :3
m 3 0 =r 0
0) w o a
CL it
m !R o (D u, = .
C. 0.0 0 L" (.Ti Ul M Ln a7 -4 -,j rn
CL M. 1
2L S -4 co -4
(D q :;. ;:V (D 4S� 0 0-0 z 0 0 0
= V, SL
(D
(D - I n -0 �o 0 -9 79 c W
CD —0 0c�D C-
X c =
0 A X 0 0 A x A 0 SD 0 7cT x 0 0
0
CL CL =Ar ir =a U) 0 0 =r =r nr
Z :E 0 g a z
0 qz2!=m c 0 oz m 2Z-n (D =WC
0- OX C- r. (D :4 2 z m 0 0 21 m
cr w (D a 0 IxD 7 :3 5 < 'D D 0. 7 0-
(,D x -'a m - CD
> EL c: 0 — - 7 c'-L 0
3< a 9 g 4 rl) -< — c 3 Z --c aim n
8 x
0 rocs a) -A� -4OD cn F 3 0 =r o m
:r 0
0 0 0 0 win 5-0-8--'
< 3 o< 'o'� SL N a -M
3 2 CL 3 1 U)
0 A = 0 a =
Sr w
s m
8 < !L = .. w 0 ru 3 3
IaD w
63 CL (D ol K
rb 3
Lor a I g 0 5D 0
2 =EF : : : ?, : : : (D 0 3 =r
7 o
0 0 (D I
0 w =, 0 0 0 0 0 0
0 0 0 0 0
o. D j =. W a
U)
rr
W 4' I-D 6
(D a us* = :<= 3 (D w 3 CL a -P,
0 D -
(D :� = I
0 (D a) = (D 54 cn 4A �64
(D (D (D L7 <D CL -=r Fr 0 C
W -4 -q U N 0 cn oo vi Lo SL
ro '0 x 0 �m <1 m 0
w cn cn ui -9 0 0 0 3 ` co ro
-0 �o W Ln cn ui
we (D c co DI
CL (D CL C-
(D (D 0
(D Zo r @ a 9
< < 0
CL
3 0 0 E
V) 0 V) a a a e e Fr =r
=rl 0 0 61 14. cn Cl) > > Fr EL CL -0 -0 a- a- rr cri w 0 0 r- w 0 > a- 0 0
-0 CD (D -(0 (D N o -,, Q W= 'a = m -0 S m
w (3 'a = Z, M Er 9 a F R @ 0 ID E5. - 9 =
Ro wj FL 0 0, 3 OL (D 7 3 = 'D (D 2
OV = (D 2
0 CD m So. w , SD w QML
0 0 2L CA 0 0 Z
0 o 0= 0 G) CL
3 CD 0 0 M 0 = g R 0 Fr CD (D
-
0 0- CD 0) 3
ac M (D < 0
R ':r 3 r
OL Q 0 0 0
3 U) o a S rr 7 (D ID 0 o
=r (D N) o w 0
c: 0 =r (D 2 0 ro 8 0. =r 0
CD :4 = 'n M - , & z
0 0 (D 0 CD M (n = w 0 C., =r
5 0 < W, o —* --, M, tr > 'o 2 = CA =r 0
-ra- 3 (D 0 E, 2 m C- >
6 w CL 0 3 v5' S. 0 - �3 0, ac 0 c: (D < z (D
= =r Ei > (D
2 0 CIL 11 M ,F (o. m 0 2 EL —
:q = - M M ID (S ccsCD M
(D . Er
CD 0 C, 0 ol ID ID ID 3 '<' 0 03 S.
_ g: 0 3
ID 0 m , 3
w a 0 — _F — 'g. 9 c 0 co
Iz (D (D 0 SL 0 0
< (D (A Fr m CD -4 2L
(D 0 =r (D o (D
Fr 9 R Fr 0 -0
w 0 0 0 =r 0 3
0 0 m cn rb, (D 9 (D m ®
0 0 (D
= U, V) CDL (D c -
=r C (D 0
c 's 0 0 0 0
S' -n (n CD 3 :4 0 3
o 9 m 5' 'o @ (D m M.
00- OD CL 3 q' DI r *0
XO o 2L (D u 0 ID
w st 15 5, 2
0� zo
cr w
(D w un 0 m (D cn cD (D CL CL tc7 0 CD (D 0 m
(D > rr ID 0 c r_ C :j
0 w '< t 0) S-7 ;W� > 0 0 OF M 0 Fr 9� P I-D 10 0
KS
0 (D -0 o tq. C. (D _Q �R CL _0
COL ID 0
2 C' OD Ir-D (D . (D 0
o 0. 0 ID W 0 3 (1
:q @ 6 :4 67 (D 0 67 0
r jD
0 'D P
-0 8 cn (D 0 0 rr (D w W (D co
r C�: U
> 3 ol g = . (D 4W S, (D 0
0 0 Q,O 3 1 Fr 0 = 01 0 0 a.0 ;2 ul to -
G ID I I
- CD 0 m -0 =0 0 U 0 Z 0 (D
a- P- (D ' 0 (D (D
0 0 CD q OL -1 M 0 0 ;z c
2- o 0 <0 'D 8 �
W (D -"< 0
o =r (D
!2 'D C) o CL o
z cr q = R (OD W CD 3 EF
(D oar 3 :2 @ CD MM O=
> Po w (:D:' 31 (D
is W CL =r - W (D < ;2 a 3
z m (D CD W ro a 2 ov - 07 w o S
x CD 0
0 OL :2 W < 2 (D
=r m (D (D 0 0-0 V Ir ID
0
ID _O 2
ID 0.8
Z 0 m a < 2 Q cr m 0 :q-
EF 0
(D 5, = > W (D U 0 0 (a �i 2 0
(o CD W
L" Z (D o C, TL o pl, 2
Pr I'D 'W, :q -2 V)
CL > (0 60 = Z
0 =r w (D 3 w a w c cn (D r- U) CL (D
C 0 Fr C, 0* -
ET CD 2 1 6
(D 0 (D 0. =r :q @
=r (D R 0 a ( !Z
-0 us- Z 0 :7
(D
r- CL
(D 0 (D Un U5 Fr a
mro 0 0 0 (D <
o 6 U) a CL q.
0 0
to 0 (A (D (D 6 0
- , En CL (10 V) " - (D - '-') - a 1K�
Ames/419370-10/1st 1/2 N/I & Auth Sale
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
1, the undersigned, Clerk of the aforementioned City, do hereby certify that
pursuant to the resolution of its Council fixing a date of meeting at which it is
proposed to take action for the issuance of not to exceed $4,500,000 Sewer Revenue
Refunding Bonds, Series 1995, 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 -7day
of 1995.
(Seal)
........ ..
City Clerk
(Attach here publisher's original affidavit with a clipping of the notice of hearing as
published.)
(PLEASE NOTE: Do not sign and date this certificate until you have checked a copy
of the published notice and have verified that it was published on the date indicated
in the publisher's affidavit.)
-10-
DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA