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HomeMy WebLinkAboutA005 - Proceedings from September 1, 1995 meeting Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth 419370-16 R *40UR Vteco `os (2nd 1/2 Hrg/Auth Sale) Ames, Iowa September 12, 1995 The City Council met on September 12, 1995, at 7:00 o'clock p.m., at the Council Chambers, City Hall, in the City, pursuant to prior action of the Council and to law, for the purpose of instituting proceedings to issue not to exceed $4,500,000 General Obligation Corporate Purpose Bonds, Series 1995B, 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 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. Council Member TPc7P,,(,n introduced the resolution next hereinafter set out, and moved that the resolution be adopted, seconded by Council Member Campbell 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, Wirth Nays: None Whereupon, the Mayor declared the resolution duly adopted, as follows: -1- DORSEY&WHITNEY P.L.L.P.,ATTORNEYS,DES MOINES,IOWA • Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth RESOLUTION NO. 95-401 Taking additional action for the sale and issuance not to exceed $4,500,000 General Obligation Corporate Purpose Bonds, Series 1995B WHEREAS, pursuant to notice of the proposed action of the City of Ames, Iowa (the "City") to institute proceedings for the issuance of not to exceed $4,500,000 General Obligation Corporate Purpose Bonds, Series 1995B (the "Bonds") of the City for the purpose of paying the cost, to that extent, of the construction of street, drainage and storm sewer improvements; and the acquisition of a fire truck aerial ladder, heretofore given in strict compliance with the provisions of Chapter 384 of the Code of Iowa and a hearing held thereon, the City may now take additional action for the sale issuance of the Bonds; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, as follows: Section 1. Sealed bids for the purchase of the Bonds shall be received and canvassed on behalf of the City at 1:00 o'clock p.m. on the 26th day of September, 1995, at the Council Chambers, City Hall, in the City, and the City Council shall meet on the same date at 7:00 o'clock p.m., at the Council Chambers, City Hall, in the City, for the purpose of considering such bids received and considering and passing a resolution providing for the sale and issuance of the Bonds. Section 2. The City Clerk is hereby authorized and directed to publish notice of said sale, as provided by Chapter 75 of the Code of Iowa, in substantially the following form: -2- (Rev.) DORSEY&WHITNEY P.L.L.P.,ATTORNEYS,DES MOINES,IOWA Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth NOTICE OF SALE City of Ames, Iowa General Obligation Corporate Purpose Bonds, Series 1995B Sealed bids will be received on behalf of the City of Ames, Story County, Iowa until 1:00 o'clock p.m. on the 26th day of September, 1995, at the Council Chambers, City Hall, Ames, Iowa, for the purchase of $4,195,000 General Obligation Corporate Purpose Bonds, Series 1995B, of the City, at which time such bids will be opened and canvassed. Thereafter such bids will be presented to the City Council for consideration at its meeting to be held at 7:00 o'clock p.m. on the same date at the Council Chambers, City Hall, Ames, Iowa, at which time the Bonds will be sold to the best bidder for cash. No open bids will be accepted. The Bonds will be issued as fully registered bonds in denominations of $5,000 or any integral multiple thereof, will be dated October 1, 1995, will bear interest payable semiannually on each June 1 and December 1 to maturity, commencing June 1, 1996, and will mature on June 1 in the following years and amounts: Principal Principal Year Amount Year Amount 1996 $345,000 2002 $350,000 1997 $350,000 2003 $350,000 1998 $350,000 2004 $350,000 1999 $350,000 2005 $350,000 2000 $350,000 2006 $350,000 2001 $350,000 2007 $350,000 The right is reserved to the City to call and redeem all of the said Bonds maturing in the years 2004 to 2007, inclusive, in whole or from time to time in part, in one or more units of $5,000, prior to maturity (and within a maturity by lot), on June 1, 2003, or on any date thereafter upon terms of par and accrued interest. Bidders must specify a price of not less than $4,153,050, plus accrued interest. The legal opinion of Dorsey & Whitney P.L.L.P., Attorneys, Des Moines, Iowa, will be furnished by the City. A good faith deposit of $41,950 is required and may be forfeited to the City in the event the successful bidder fails or refuses to take and pay for the Bonds. -2A- DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA • Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth The City reserves the right to reject any or all bids and to waive irregularities in any bid. The Bonds are being issued pursuant to the provisions of Division III of Chapter 384 of the Code of Iowa and will constitute general obligations of the City, payable from taxes levied upon all the taxable property in the City without limitation as to rate or amount. Bidders should be aware that the official terms of offering to be published in the Official Statement for the Bonds contain additional bidding terms and information relative to the Bonds. In the event of a variance between statements in this Notice of Sale (except with respect to the time and place of the sale of the Bonds and the principal amount offered for sale) and said official terms of offering, the provisions of the latter shall control. By order of the City Council of Ames, Iowa. Sandra L. Ryan City Clerk -2B- DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA • Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth Section 3. All resolutions or parts thereof in conflict herewith be and the same are hereby repealed to the extent of such conflict. Passed and approved September 12, 199 Attest: ayor Pro Ten PL L City Clerk -3- (Rev.) DORSEY & WHITNEY P.L.L.P., ATTORNEYS, DES MOINES, IOWA Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth On motion and vote, the meeting adjourned. /\'V�G .(�'L �GIa Or Pro Tem Attest: w, City Clerk -4- DORSEY&WHITNEY P.L.L.P.,ATTORNEYS,DES MOINES,IOWA � J • J Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth 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 hearing on the issuance and the fixing of a date for the sale of not to exceed $4,500,000 General Obligation Corporate Purpose Bonds, Series 1995B. WITNESS MY HAND and the seal of the City hereto affixed this 12th day of �P.�,t »t,Pr 1995. City Clerk (Seal) -5- DORSEY&WHITNEY P.L.L.P.,ATTORNEYS,DES MOINES,IOWA Ames/419370-16/2nd 1/2 Hrg only/1st 1/2 Auth STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the aforementioned City, do hereby certify that pursuant to a resolution of its Council fixing a date for the sale of General Obligation Corporate Purpose Bonds, Series 1995B, the notice of sale, 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 is located in Story County or in a county contiguous thereto. WITNESS MY HAND and the seal of the City hereto affixed this o'Z;)� day of 1995. City Clerk (Seal) (Attach here publisher's original affidavit with clipping of the notice of sale 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.) -6- DORSEY&WHITNEY P.L.L.P.,ATTORNEYS,DES MOINES,IOWA �1 LEGAL NOTICE NOTICE OF SALE CITY OF AMES, IOWA GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1995B Sealed bids will be received on behalf of the City of Ames, Story County, Iowa, until Proof of Publication in 1:00 o'clock p.m. on the 26th day of September, 1995, at the Council Chambers, DAILY TRIBUNE City Hall, 'Ames, Iowa, for the purchase of $4,195,000 General Obligation Corporate Purpose Bonds, Series 1995B, of the City, at which time such bids will be opened and canvassed. Thereafter such bids will be presented to the City Council for STATE OF IOWA,STORY COUNTY,ss. consideration at its meeting to be held at 7:00 p.m. on the same date at the Council Chambers, City Hall, Ames, Iowa, at which I,Craig McMullin/Joan Rost,on oath depose time the Bonds will be sold to the best bidder for cash. No open bids will be accepted. and say that I am President/Controller The Bonds will be issued as fully registered of DAILY TRIBUNE,a daily newspaper,printed bonds in denominations of $5,000 or any integral multiple thereof, will be dated at Ames,Story County,Iowa;that the annexed October 1, 1995, will bear interest payable printed semiannually on each June 1 and December 1 to maturity, commencing June 1, 1996, and will mature on June 1 in the following years and CITYOF AMES amounts: YEAR PRINCIPAL AMOUNT NOTICE OF SALE OF GENERAL OBLIGATION BONDS 1996 $345,000 1997 $350,000 1998 $350,000 1999 $350,000 was published in said newspaper for 1 2000 $350,000 2001 $350,000 consecutive week(s) 2002 $350,000 - and the last of said publication was on the 2003 $350,000 2004 $350,000 19th day of September, 1995 2005 $350,000 2006 $350,000 2007 $350,000 The right is reserved to the City to call and redeem all of the said Bonds maturing in + C the years 2004 to 2007, inclusive, in whole or /?-� from time to time in part, in one or more units of $5,000, prior to maturity (and within a maturity by lot), on June 1, 2003, or on any date thereafter upon terms of par and accrued interest. Sworn to before me and subscribed in my Bidders must specify a price of not less presence by Craig McMullin/Joan Rost than $4,153,050, plus accrued interest. The legal opinion of Dorsey & Whitney P.L.L.P., this 20th day of September, 1995 Attorneys, Des Moines, Iowa, will be furnished by the City. A good faith deposit of $41,950 is required and may be forfeited to the City in the event the successful bidder fails or refuses to take and pay for the Bonds. _ The City reserves the right to reject any or ,Notary Public allbids and to waive irregularities in any bid. The Bonds are being issued pursuant to - in and for the State of Iowa the provisions of Division III of Chapter 384 of the Code of Iowa and will constitute general obligations of the City, payable from taxes levied upon all the taxable property in the City without limitation as to rate or amount. FEES,$28.11 o�p1At sy Bidders should be aware that the official terms of offering to be published in the NO:28389 TIFF A Y A. WALKER Official Statement for the Bonds contain AMES05 3 I`, additional bidding terms and information 1OwA - relative to the Bonds. In the event of a variance between statements In this Notice of Sale (except with respect to the time and Place of the sale of the Bonds and the principal amount offered for sale) and said official terms of offering, the provisions of the latter shall control. By order of the City Council of Ames, Iowa. Sandra L. Ryan, City Clerk Published in The Daily Tribune September 19, 1995.