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Home My WebLink AboutA006 - Proceedings from April 22, 1997 meeting Ames/New/1st 1/2 N/I Bonds For Your Records MINUTES TO SET DATE FOR HEARING ON ISSUANCE OF BONDS Ames, Iowa April 22, 1997 The Council of the City of Ames, Iowa, met on April 22, 1997, at 7:00 o'clock - p m., at the City Council Chanberain the City. The Mayor presided and the roll was called showing the following Council Members present and absent: Present: _Campbell, Hoffman, Parks, Quirmbach, Wirth Absent: Tedesco Council Member Parks introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Wirth ; 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, Quirmbach, Wirth Nays: None Whereupon, the Mayor declared the said resolution duly adopted, as follows: -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds RESOLUTION NO. 209 To fix a date of meeting at which it is proposed to take action for the issuance of not to exceed $5,600,000 General Obligation Corporate Purpose Bonds, Series 1997A WHEREAS, the City of Ames, Iowa (the "City"), proposes to issue not to exceed $5,600,000 General Obligation Corporate Purpose Bonds, Series 1997A (the 'Bonds"), pursuant to the provisions 'of Division III of Chapter 384 of the Code of Iowa for the purpose of paying the cost, to that amount, of the construction, reconstruction and repair of street improvements; and the construction of works and facilities useful for the collection and disposal of surface waters and streams, and it is necessary to fix a date of meeting of the 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; 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 May, 1997, at the City Council Chambers in the City, at 7:00 p o'clock 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 4 nor more than 20 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: -2- (Rev.) DORSEY &WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE Of NOT TO EXCEED $5,600,000 GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1997A The City Council of the City of Ames, Iowa, will meet on the 13th day of May, 1997, at the in the City, at o'clock in., for the purpose of instituting proceedings and taking action for the issuance of not to exceed $5,600,000 General Obligation Corporate Purpose Bonds, Series 1997A, for the purpose of paying the cost, to that extent, of the construction, reconstruction and repair of street improvements; and the construction of works and facilities useful for the collection and disposal of surface waters and streams. The Bonds, when issued, will constitute general obligations of the City. At such time and place the Council shall receive oral or written objections from any resident or property owner of the City. After receiving objections, the City may determine to issue 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 -3- (Rev.) DORSEY& WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds Section 3. All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed to the extent of such conflict. Passed and approved April 22, 1997. Mayor Attest: City Clerk -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds Section 3. All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed to the extent of such conflict. Passed and approved April 22, 1997. Mayor Attest: + L :�. City Clerk -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds 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 issuance of not to exceed $5,600,000 General Obligation Corporate Purpose Bonds, Series 1997A. WITNESS MY HAND and the'seal of the City hereto affixed this 22nd day of April 1997. (Seal) City Clerk -6- (Rev.) DORSEY &WHITNEY LLP,ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned City Clerk, do hereby certify that the aforementioned City is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that such City , is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named. And I do further certify that the following named parties are officials of the City as indicated: Larry R. Curtis Mayor Sandra L. &an Clerk Sherry Meier Treasurer Ann Campbell Council Member Judie Hoffman Council Member John Parks Council Member Herman Quirmbach Council Member Ted Tedesco Council Member Sharon Wirth Council Member WITNESS MY HAND and the seal of the City hereto affixed this 22nd day of — AlDr; 1 1997. 3(k City Clerk (Seal) -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, Clerk of the aforementioned City, do hereby certify that as of June 1, 1997, the City will have outstanding the following General Obligation indebtedness, of every kind and nature (excluding the current issue), and urban renewal tax increment revenue obligations: SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) Date of Maturity Issue T)pe Amount Date (List annual principal payments) 10/01/79 Corporate $ 200,000 June 1, 1998 Purpose $ 200,000 1999 $ 400,000 05/01/87 Corporate $ 50,000 December 1, 1997 Purpose $ 50,000 1998 $ 50,000 1999 $ 50,000 2000 $ 50,000 2001 $ 50,000 2002 $ 300,000 05/01/91 Refunding Bonds $ 385,000 June 1, 1998 $4,375,000 General Obligation Corporate Purpose Bonds Dated June 1, 1992 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $625,000 5.40% 2002 $625,000 5.75% 1999 $625,000 5.45% 2003 $625,000 5.80% 2000 $625,000 5.60% 2004 $625,000 5.90% 2001 $625,000 5.65% -8- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) - CONTINUED $6,675,000 General Obligation Refunding Bonds Dated February 15, 1993 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $720,000 4.75% 2004 $780,000 5% 1999 $715,000 4.75% 2005 $380,000 5% 2000 $730,000 4.75% 2006 $370,000 5.10% 2001 $740,000 4.80% 2007 $365,000 5.10% 2002 $755,000 4.90% 2008 $355,000 5.10% 2003 $765,000 5% $2,270,000 General Obligation Corporate Purpose Bonds, Series 1994A Dated January 1, 1994 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $410,000 4% 2002 $290,000 4% 1999 $410,000 4% 2003 $290,000 4.10% 2000 $290,000 4% 2004 $290,000 4.10% 2001 $290,000 4% $1,505,000 General Obligation Corporate Purpose Bonds, Series 1994B Dated October 1, 1994 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $170,000 4.75% 2003 $165,000 5.30% 1999 $170,000 4.85% 2004 $165,000 5.40% 2000 $170,000 5% 2005 $165,000 5.40% 2001 $170,000 5.10% 2006 $165,000 5.50% 2002 $165,000 5.20% -9- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) - CONTINUED $8,605,000 General Obligation Corporate Purpose Bonds, Series 1995A Dated May 1, 1995 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $715,000 5% 2005 $720,000 5.20% 1999 $715,000 5% 2006 $720,000 5.25% 2000 $715,000 5% 2007 $720,000 5.25% 2001 $715,000 5% 2008 $480,000 5.25% 2002 $715,000 5% 2009 $475,000 5.25% 2003 $720,000 5.10% 2010 $475,000 5.25% 2004 $720,000 5.10% $3,500,000 General Obligation Corporate Purpose Bonds, Series 1995B Dated October 1, 1995 Maturing Principal Interest Rate Maturing Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 1998 $350,000 4.50% 2003 $350,000 4.60% 1999 $350,000 4.50% 2004 $350,000 4.60% 2000 $350,000 4.60% 2005 $350,000 4.60% 2001 $350,000 4.60% 2006 $350,000 4.70% 2002 $350,000 4.60% 2007 $350,000 4.80% (Please list here or attach a separate maturity schedule for any other outstanding issues of general obligation bonds and/or loan agreement notes.) -10- DORSEY&WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA •' l Ames/New/1st 1/2 N/I Bonds SCHEDULE B (OTHER GENERAL OBLIGATIONS) Type of General Obligation Amount (Here list any other obligations of the City which extend beyond the end of the current fiscal year, such as long-term leases, installment sales contracts, etc. If there are none, please insert the word "none". Please consult with either our office or Evensen Dodge, Inc. before completing this section.) None SCHEDULE C (URBAN RENEWAL TAX INCREMENT REVENUE OBLIGATIONS) Principal Amount Date Name of Issue Outstanding (Please list here or attach a separate maturity schedule for any outstanding urban renewal tax increment revenue obligations.) WITNESS MY HAND and the seal of the City hereto affixed this 22nd day of April 1997. �7 City Clerk (Seal) -11- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/New/1st 1/2 N/I Bonds (PLEASE NOTE: Do not date and return this certificate until you have received the publisher's affidavit, but please return all other completed pages to us as soon as they are available.) STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, 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 $5,600,000 General Obligation Corporate Purpose Bonds, Series 1997A, 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 28th day Of Ma)z 1997. (Seal) City Clerk (Attach here publisher's original affidavit with a clipping of the notice as published.) -12- (Rev.) DORSEY&WHITNEY LLP,ATTORNEYS, DES MOINES, IOWA Proof Of Publication In DAILY TRIBUNE STATE OF IOWA,STORY COUNTY,ss. I,Craig McMullin/Joan Rost,on oath depose and say that I am President/Controller LEGAL NOTICE of DAILY TRIBUNE,a daily newspaper,printed at Ames,Story County,Iowa;that the annexed NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS printed FORT E ISSUANCE OF NOT TO EXCEED S5,600,000 GENERAL OBLIGATION CITY OF AMES CORPORATE PURPOSE BONDS, SERIES 1997A NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEDINGS The City Council of the City of Ames,Iowa,will meet on the 13th day of May,1997,at the City Council Chambers,Ames City Hall,515 Clark Avenue,in the City of Ames,at 7,00 p.m,for the purpose of was published in said newspaper for 1 S May 2,1997 instituting proceedings and taking action for the consecutive week( ) Y issuance of not to exceed$5,600,000 General and the last of said publication was on the Obligation Corporate Purpose Bonds,Series 1997A, 2nd day of May, 1997 for the purpose of paying the cost,to that extent,of the construction,reconstruction and repair of street improvements,and the construction of works and facilities useful for the collection and disposal of / v surface waters and streams. a The Bonds,when issued,will constitute general .w/ obligations of the City At such time and place the Council shall receive oral or written objections from any resident or property owner of the City. After receiving objections,the City Sworn to before me and"'subscribed in my may determine to issue the Bonds,in which case,the presence by Craig McMullin/Joan Rost decision will be final unless appealed to the District this 15th day of May, 1997. Court within fifteen(15)days thereafter By order of the City Council and Pursuant to Section 394 25 of the Code of Iowa. Sandra L Ryan,City Clerk Published in The Daily Tribune May 2,7997. Notary Public Vind Qr the State Of Iowa My commision expires 11/13/99 FEES:$9.59 NO.29935 AMES05