HomeMy WebLinkAboutA005 - Letter from Dorsey & Whitney dated July 3, 2001 - proceedings for July 10 meeting DORSEY & WHITNEY LLP
ATTORNEYS AT LAW
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DES MOINES July 3, 2001 ROCHESTER
LONDON TOKYO
ANCHORAGE 1 MISSOULA
SALT LAKE CITY VANCOUVER
SHANGHAI
Diane R. Voss
City Clerk
City Hall - -
Post Office Box 811 ._� CITY tI i'VaE-S,10MA
515 Clark Avenue
Ames, Iowa 50010
Re: Ames, Iowa
$10,080,000 General Obligation Corporate Purpose Bonds, Series 2001A
Our File No. 419370-24
Dear Diane:
We have prepared and enclose the necessary proceedings for the July 10 meeting to carry out
the hearing, sale and issuance of the captioned Bonds. We have completed the enclosed resolution
with the name of the purchaser,the interest rates at which the Bonds are being sold and the resulting
tax levy amounts.
The proceedings enclosed are as follows:
1. Minutes of the meeting covering the hearing on the issuance and 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.
3. Certificate of the County Auditor relating to the filing of a certified copy of the Bond
Issuance Resolution in that office.
I - t When completed and executed,a certified copy of the resolution must be filed with the Story
County Auditor, and we are enclosing an extra copy of the resolution for this purpose.
DORSEY & WHITNEY LLP
Page 2
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 truly yogi s,
Xbert . Helmick
RHH
Ames/419370-24/2nd'/2 GBS/GBI
Enclosures
cc: Steven Schainker
Duane Pitcher
John Klaus
Dave Dirks
Charles A. Uperaft