HomeMy WebLinkAboutA006 - Letter from Dorsey & Whitney dated June 23, 2000 DORSEY & WHITNEY LLP
ATTORNEYS AT LAw
MINNEAPOLIS 801 GRAND, SUITE 3900 BILLINGS
NEW YORK DES MOINES, IOWA 50309 GREAT FALLS
SE'ATTLE TELEPHONE: (515) 283-1000 MISSOULA
DENVER FAX: (515) 283-1060 BRUSSELS
WASHINGTON,D.C. FARGO
DES MOINES HONG KONG
ANCHORAGE June 23, 2000 ROCHESTER
LONDON _., SALT LAKE CITY
i
COSTA MESA '� - VANCOUVER
Diane R. Voss o �:
City Clerk `�� 2 6 i
City Hal: City CI e„ '
Post Office Box 811 CITY t'F S'IC7,1A
515 Clark Avenue
Ames, Iowa 50010
Re: Ames, Iowa
$5,870,000 General Obligation Corporate Purpose Bonds
Our File No. 419370-22
Dear Diane:
We have prepared and enclose the necessary proceedings for the June 27 meeting to carry out
the hearing and for the sale and issuance of the captioned Bonds. You will note that the enclosed '
resolution must be completed with the name of the purchaser, the interest rates at which the Bonds
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are sold and the resulting tax levy amounts. We understand that a representative of Evensen Dodge
will report attend your meeting and will report the relevant information to us after the bids are
opened and tabulated on Tuesday so that we can complete these blanks and fax revised pages to you
for insertion into the enclosed transcripts prior to the Council meeting.
The proceedings enclosed are as follows:
1. Minutes of the meeting providing for the hearing and for the sale of the Bonds,
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 should not be completed or executed.
2. Certificate attesting the transcript, to which should be attached a copy of the
successful bid.k,o",
3. Certificate of the County Auditor relating to the filing of a certified copy of the Bond
Issuance Resolution in that office.
DORSEY & WHITNEY LLP
Page 1
On June 27, the City Council should meet as scheduled to hold the hearing and to consider
the bids received for the purchase of the Bonds. The minutes as drawn assume that no objections
will be filed or made. The City Council should then canvass bids for 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.�� �"I'Cr.
,.
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 have any questions or if any difficulties arise, please be sure to contact our office.
Very t rull yours,
Robert H. Helmick
RHH
Ames/419370-22/2nd'/2 GBS/GBI
Enclosures
cc: Steven Schainker
Duane Pitcher
John Klaus
Dave Dirks
Charles A. Uperaft