HomeMy WebLinkAboutA006 - Letter from Dorsey & Whitney dated June 12, 1998 DORSEY & WHITNEY LLP
ATTORNEYS AT LAW
MINNEAPOLIS 801 GRAND, SUITE 3900 NEW YORK
WASHINGTON,D.C. DES MOINES, IOWA 50309 DENVER
LONDON TELEPHONE: (515) 283-1000
SEATTLE
BRUSSELS FAX: (515) 283-1060
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HONG KONG
BILLINGS
DES MOINES
ROCHESTER MISSOULA
COSTA MESA GREAT FALLS
June 12, 1998 ,- �-
,�
5
Jill Ripperger
City Clerk
City Hall
Post Office Box 811
515 Clark Avenue
Ames, Iowa 50010
Re: Ames, Iowa
$5,130,000 General Obligation Corporate Purpose Bonds
Our File No. 419370-20
Dear Jill:
Based upon the information provided to us today by Evensen Dodge, we have prepared
and enclose the form of Notice of Sale for the captioned Bonds for delivery to your newspaper.
You should retain a copy of the notice for the City's records.
The notice must be published at least once not less than 4 nor more than 20 days before
the June 23 sale date in the Ames paper.
As soon as the notice appears in the newspaper, please have a clipping forwarded to our
office so we may check its sufficiency.
We will prepare and forward the necessary additional proceedings and the other
documents necessary to be signed on behalf of the City for the June 30 closing in time for the
June 23 Council meeting.
DORS EY & WHITNEY L L P
Page 2
In the meantime, if you have any questions, please don't hesitate to call.
Very truly ours,
Robert H. Helmic
RHH
Ames/419370-20/Ltr sending N/Sale
Enclosures
cc: Steven Schainker
Alice Carroll
John Klaus
Dave Dirks
Charles A. Uperaft
LEGAL NOTICE
NOTICE OF SALE
City ofgm,Iowa
$,1 O'000 General Obligation
Sealed bids IP°rate Purpose Bonds
Ames Stoale will be received on behalf of the 23rd dayry County,Iowa,until 10:30 o'clock City of
Nall, of June, 1998,at the Council Ch e.m.on the
Ames,Iowa for the purchase of Sc'Obligation Co City
time IPorate Purpose Bonds,of the Csuch it General
cot Which
nstdb bid bids will Pr seep d and canvassed. Thereafter
will be
Proof Of Publication In on the sationme at Its meeting to be held at city
Council for
THE TRIBUNE Ames,Iowa a awhich time at
Chambers C°ck p.m.
the
------------------------------------ bes[bidderfor the BondswillbescityHall,
--------------------------- cash. Noo to the
dent, 'n bonds will be issued as
will be accepted.
STATE OF IOWA,STORY COUNTY,ss. IIIlnations OfS51000 or fully registered bonds in
will be dated June 15, 1998°y Integral multiple thereof,
Iliannually on each June 1 and D Will bear interest Payable
I,Craig McMullin/Joan Rost,on oath depose in COMM
t"b�i I a andwilmber Irt onJune tj'
and say that I am President/Controller sYears and amounts:
of DAILY TRIBUNE,a daily newspaper,printed y� Principal
at Ames,Story County, Iowa;that the annexed 2000 $430,000 02 05 Principal
printed 2001 5430,000 $425,000
2002 ,000 2006 5425,000
$430,000
000
CITY OF AMES ZO�pq $430,000 2008 $4z5;00
NOTICE OF SALE Thenghttsrese�edtothe 20110 S425,oo
CORPORATE PURPOSE BONDS of the said Bonds Cin ity to call
and mclinclustve m whole or�om me toety e�2007 ttooa2nOtj01
was published in said newspaper for 1 more units of$5,000 Pan'I"one or
consecutive week(s)June 18, 1998 matuntybylot),on June IPri r to maturity(and within a
and the last of said publication was on the upon termsofparanda 006'oron any date thereafter,
Bidders ccr ed Interest
18th day of June 1998. $5,088 9 must specify a price of not less than
�,plus accrued interest. The legal opinion of
Dorsey&Whitn
be furnished by the Cat,�om�'�Moines,Iowa,will
s A good faith deposit of S51,300 is required and
forli ted to the City in the event the su may be
° j e or refuses to take and pay for the Bonds,ssfut bidder fails
The CIry reserves the
to waive Irregularities right to reject any or all bids and
gularities in any bid.
The Bonds are eCodeoflowaandwill
being issued
sworn to before me and subscribed in my ofDrvtston pursuant to the provisions
lIIofChapter3ggofth presence by Craig McMullin/Joan Rost constitute general obligations ththe
City, yable from
this 18th day of June 1998. taxes levied upon all the taxable property in the City
without limitation as to rate or amount.
In order to permit bidders for the Bonds and other
participating underwriters in the primary offering of the
Bonds to comply with
Promulgated Paragraph(b)(5)of Rule 15c2-12
7 8 by the Securities and Exchange Commission
r ✓ 7 Notary Public he City
h Securities Exchange Act of 1934(the"Rule"
Gt duenant and ),
In a to he State Of Iowa registered holders beneficaairoe,for the benefit of the
ime
of the outstanding Bonds,in the resolutwners ion n awarding rom time to the
sale and prescribing the terms of the Bonds,to provide
annual reports of specified information and notice of the
Onioccurrence of certain events,if material. The City is the
the meaning
person"with respect to the Bonds within
g of the Rule for the purposes of disclosing
FEES:$32.00 information on an ongoing basis. A description
NO.40782 undertaking is set forth i of the
n the Official Statement. Failure
ofthe City to enter into an undertaking substantially similar
AM ES05 to that described in the Official Statement w
successful bidder of Iit ould relieve the
The City has com s obligation to purchase the Bonds.
plied in all material respects with any
undertaking previously entered into by it under the Rule.
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 Bond
statem s. In the event of a i ents in this Notice of Sal variance between
e(except var
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,Ames Iowa
Jill RiPPerger
City Clerk