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Home My WebLink AboutA003 - Letter to Dorsey & Whitney dated October 23, 2001 - Proceedings from October 23 �3 A City Clerk's Office 515 Clark Avenue,P.0.Box 811 Caring Peop4 Ames,IA 50010 Qualify Programs Phone: 515-239-5105 E.vephwwl Srrvire Fax: 515-239-5142 October 23, 2001 Dorsey & Whitney LLP 801 Grand, Suite 3900 Des Moines, Iowa 50309 Attention Robert H. Helmick RE: Ames, Iowa General Obligation Refunding Bonds General Obligation Fire Station and Refunding Bonds Your File No. 419370-23 Dear Bob: Enclosed please find the following proceedings from the October 23, 2001, City Council meeting to set November 13, 2001, as the date for the hearing on the issuance of the Refunding Bonds and as the date for the sale of the combined issuance of Fire Station and Refunding Bonds, 1. Minutes of the meeting to fix November 13 as the date for the hearing on the Refunding Bonds and the sale of the combined issue. 2. Resolution No. 01-469 setting November 13, 2001, as the date of public hearing for the issuance of the Refunding Bonds and setting November 13, 2001, for the sale of General Obligation Fire Station and Refunding Bonds. 3. Certificate attesting the transcript. 4. Organization Certificate. 5. Certificate as to the City's outstanding general obligation indebtedness. If you have any questions, please call. Thank you for your assistance. Sincerely, Diane R. Voss City Clerk /dry Enclosures Please Return To Ames/419370-23/1"/z GBS DORSEY&WHITNEY ATTORNEYS AT LAW 801 Grand, Suite 3900 Des Moines. Iowa 50309 MINUTES TO SET DATE FOR HEARING ON ISSUANCE AND SALE OF BONDS 419370-23 Ames, Iowa October 23, 2001 The Council of the City of Ames, Iowa, met on October 23, 2001, at seven o'clock p .m., at the Council Chambers, City Hall, in the City. The Mayor presided and the roll was called showing the following Council Members present and absent: Present: Campbell, cross, Goodhue, HQf fman,Qui rmhar-h Wirth Absent: None Council Member Coodhl1P introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Hoffman _; 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, Cross, Goodhue, Hoffman, Quirmbach, Wirth Nays: None Whereupon, the Mayor declared the said resolution duly adopted, as follows: -1- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1"/z GBS RESOLUTION NO. 01-469 Fixing a date of meeting at which it is proposed to take action for the issuance of General Obligation Refunding Bonds, fixing a date for the sale of General Obligation Fire Station and Refunding Bonds and providing for the advertisement of such sale WHEREAS, the City of Ames, Iowa (the "City"), proposes to issue not to exceed $ 4,000,000 General Obligation Refunding Bonds (the "Refunding Bonds"), pursuant to the provisions of Division III of Chapter 384 of the Code of Iowa for the purpose of paying the cost of refunding $3,770,000 of the City's General Obligation Refunding Bonds, Series 1993, dated February 15, 1993, 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; and WHEREAS, the City has heretofore proposed to contract indebtedness and issue $1,310,000 General Obligation Fire Station Bonds (the "Fire Station 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 extent, of constructing and equipping a fire station in and for the City, and has called a special City election to vote on the question of issuing the Fire Station Bonds, at which election the proposition was adopted by a vote in favor equal to at least 60% of the total votes cast for and against the proposition; and WHEREAS, pursuant to Section 384.28 of the Code of Iowa,the Council may include in a single resolution any number or combination of essential corporate purposes and general corporate purposes and sell a single issue of bonds; 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 November, 2001, at the Council Chambers, City Hall, in the City, at seven o'clock _p.m., at which time and place proceedings will be instituted and action taken for the issuance of the Refunding Bonds. Section 2. The City Clerk is hereby directed to give notice of the proposed action for the issuance of the Refunding 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- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1"'h GBS NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS The City Council of the City of Ames, Iowa, will meet on the 13th day of November, 2001, at the Council Chambers, City Hall, in the City, at seven o'clock __p_.m., for the purpose of instituting proceedings and taking action for the issuance of not to exceed $ 4,000,000 General Obligation Refunding Bonds (the "Refunding Bonds") for the purpose of refunding $3,770,000 of the City's outstanding General Obligation Refunding Bonds, Series 1993, dated February 15, 1993. The Refunding 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 Refunding 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 384.26(5)(a)(2) of the Code of Iowa. Diane Voss City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1"V2 GBS Section 4. The Refunding Bonds and the Fire Station Bonds referred to in the preamble above shall be combined and sold as a single issue of bonds, in the amount of $ 5,150,000 and shall be designated General Obligation Fire Station and Refunding Bonds (hereinafter referred to as the "Bonds"). Section 5. Sealed bids for the purchase of the Bonds shall be received and canvassed on behalf of the City at ten o'clock a .m. on the 13th day of November, 2001, at the City Council Chambers , in the City, and the City Council shall meet on the same date at sev n 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 6. The City Clerk is authorized and directed to publish notice of said sale, as provided by Chapter 75 of the Code of Iowa, in substantially the form as will be placed on file with the Council. Section 7. 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 October 23, 2001. Mayor Attest: City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1°Yz GBS On motion and vote, the meeting adjourned. ] J �� -A ayor Attest: " � `�- City Clerk -5- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1°%GBS 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 hearing on the issuance of General Obligation Refunding Bonds and fixing the date for the sale of General Obligation Fire Station and Refunding Bonds and providing for the advertisement for such sale. WITNESS MY HAND and the seal of the City hereto affixed this 2r_ day of October , 2001. ity Clerk (Seal) -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMS,IOWA Ames/419370-23/1°'/z GBS STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES 1, 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: Ted Tedesco , Mayor Steven L. Schainker , Manager Duane Pitcher , Finance Director Diane R. Voss , Clerk Sherry M. Meier , Treasurer Ann Campbell , Council Member Russ Cross , Council Member Steve Goodhue , Council Member Judie Hoffman , Council Member Herman Quirmbach , Council Member Sharon Wirth , Council Member WITNESS MY HAND and the seal of the City hereto affixed this 23rd day of October , 2001. City Clerk (Seal) -7- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMES,IOWA Ames/419370-23/1"%GBS i(itl /� ✓�/ STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES 1, the undersigned, Clerk of the aforementioned City, do hereby certify that the City currently has outstanding the following General Obligation indebtedness, of every kind and nature (excluding the current issue), urban renewal tax increment revenue obligations and local option sales tax revenue bonds: SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) Date of Maturity Issue Type Amount Date (List annual principal payments) 05/01/87 Corporate $ 50,000 December 1, 2001 Purpose $ 50,000 2002 $100,000 $1,135,000* General Obligation Refunding Bonds Dated February 15, 1993 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $755,000 4.90% (Excludes maturities to be refunded) 2003 $380,000 5% $870,000 General Obligation Corporate Purpose Bonds, Series 1994A Dated January 1, 1994 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $290,000 4% 2004 $290,000 4.10% 2003 $290,000 4.10% -8- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1°'/2 GBS SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) $825,000 General Obligation Corporate Purpose Bonds, Series 1994B Dated October 1, 1994 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $165,000 5.20% 2005 $165,000 5.40% 2003 $165,000 5.30% 2006 $165,000 5.50% 2004 $165,000 5.40% $5,745,000 General Obligation Corporate Purpose Bonds, Series 1995A Dated May 1, 1995 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $715,000 5% 2007 $720,000 5.25% 2003 $720,000 5.10% 2008 $480,000 5.25% 2004 $720,000 5.10% 2009 $475,000 5.25% 2005 $720,000 5.20% 2010 $475,000 5.25% 2006 $720,000 5.25% $2,100,000 General Obligation Corporate Purpose Bonds, Series 1995B Dated October 1, 1995 Due Principal Interest Rate Due Principal Interest Rate June I Amount Per Annum June I Amount Per Annum 2002 $350,000 4.60% 2005 $350,000 4.60% 2003 $350,000 4.60% 2006 $350,000 4.70% 2004 $350,000 4.60% 2007 $350,000 4.80% $3,600,000 General Obligation Corporate Purpose Bonds, Series 1997A Dated June 1, 1997 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $450,000 4.60% 2006 $450,000 4.60% 2003 $450,000 4.60% 2007 $450,000 4.60% 2004 $450,000 4.60% 2008 $450,000 4.60% 2005 $450,000 4.60% 2009 $450,000 4.60% -9- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1"%GBS SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) $3,840,000 General Obligation Corporate Purpose Bonds, Series 1998A Dated June 15, 1998 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $430,000 4.20% 2007 $425,000 4.20% 2003 $430,000 4.20% 2008 $425,000 4.20% 2004 $430,000 4.20% 2009 $425,000 4.25% 2005 $425,000 4.20% 2010 $425,000 4.25% 2006 $425,000 4.20% $1,885,000 General Obligation Refunding Bonds, Series 1998B Dated December 1, 1998 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $640,000 3.60% 2004 $615,000 3.70% 2003 $630,000 3.65% $3,485,000 General Obligation Corporate Purpose Bonds, Series 1999 Dated June 1, 1999 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $295,000 3.80% 2007 $350,000 4.25% 2003 $305,000 3.90% 2008 $365,000 4.35% 2004 $315,000 4% 2009 $380,000 4.375% 2005 $325,000 4.10% 2010 $395,000 4.40% 2006 $340,000 4.15% 2011 $415,000 4.45% $5,480,000 General Obligation Corporate Purpose Bonds, Series 2000 Dated July 1, 2000 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $385,000 4.75% 2008 $515,000 5% 2003 $400,000 4.75% 2009 $545,000 5.05% 2004 $425,000 4.75% 2010 $570,000 5.10% 2005 $445,000 4.80% 2011 $605,000 5.10% 2006 $465,000 4.85% 2012 $635,000 5.15% 2007 $490,000 4.95% -10- DORSEY&WFUTNEY LLP,ATTORNEYS,DES MOMES,IOWA Ames/419370-23/1°%:GBS SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) $10,080,000 General Obligation Corporate Purpose Bonds, Series 2001A Dated August 1, 2001 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2002 $785,000 4% 2008 $835,000 4.10% 2003 $745,000 4% 2009 $870,000 4.20% 2004 $770,000 4% 2010 $875,000 4.30% 2005 $795,000 4% 2011 $900,000 4.40% 2006 $820,000 4% 2012 $905,000 4.60% 2007 $835,000 4% 2013 $945,000 4.70% (Please list here or attach a separate maturity schedule for any other outstanding issues of general obligation bonds and/or loan agreement notes.) -11- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1"%GBS 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.) SCHEDULE C (URBAN RENEWAL TAX INCREMENT REVENUE OBLIGATIONS) Principal Amount Name of Issue _Outstanding Date (Please list here or attach a separate maturity schedule for any outstanding urban renewal tax increment revenue obligations.) -12- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1°Vz GBS SCHEDULE D (LOCAL OPTION SALES TAX REVENUE BONDS) Date of Maturity Issue Amount Date (List annual principal payments) (Please list here or attach a separate maturity schedule for any outstanding local option sales tax revenue obligations.) WITNESS MY HAND and the seal of the City hereto affixed this 23rd day of October , 2001. City Clerk (Seal) -13- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA r R Ames/419370-23/1°'/z GBS RESOLUTION NO. 01-469 Fixing a date of meeting at which it is proposed to take action for the issuance of General Obligation Refunding Bonds, fixing a date for the sale of General Obligation Fire Station and Refunding Bonds and providing for the advertisement of such sale WHEREAS, the City of Ames, Iowa (the "City"), proposes to issue not to exceed $ 4,000,000 General Obligation Refunding Bonds (the "Refunding Bonds"), pursuant to the provisions of Division III of Chapter 384 of the Code of Iowa for the purpose of paying the cost of refunding $3,770,000 of the City's General Obligation Refunding Bonds, Series 1993, dated February 15, 1993, 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; and WHEREAS, the City has heretofore proposed to contract indebtedness and issue $1,310,000 General Obligation Fire Station Bonds (the "Fire Station 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 extent, of constructing and equipping a fire station in and for the City, and has called a special City election to vote on the question of issuing the Fire Station Bonds, at which election the proposition was adopted by a vote in favor equal to at least 60% of the total votes cast for and against the proposition; and WHEREAS, pursuant to Section 384.28 of the Code of Iowa, the Council may include in a single resolution any number or combination of essential corporate purposes and general corporate purposes and sell a single issue of bonds; 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 November, 2001, at the Council Chambers, City Hall, in the City, at seven o'clock _p.m., at which time and place proceedings will be instituted and action taken for the issuance of the Refunding Bonds. Section 2. The City Clerk is hereby directed to give notice of the proposed action for the issuance of the Refunding 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- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOMES,IOWA Ames/419370-23/Ip'/�GBS NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS The City Council of the City of Ames, Iowa, will meet on the 13th day of November, 2001, at the Council Chambers, City Hall, in the City, at seven o'clock __p_.m., for the purpose of instituting proceedings and taking action for the issuance of not to exceed $ 4,000,000 General Obligation Refunding Bonds (the "Refunding Bonds") for the purpose of refunding $3,770,000 of the City's outstanding General Obligation Refunding Bonds, Series 1993, dated February 15, 1993. The Refunding 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 Refunding 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 384.26(5)(a)(2) of the Code of Iowa. Diane Voss City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-23/1 a%GBS Section 4. The Refunding Bonds and the Fire Station Bonds referred to in the preamble above shall be combined and sold as a single issue of bonds, in the amount of $ 5,150,000 and shall be designated General Obligation Fire Station and Refunding Bonds (hereinafter referred to as the "Bonds"). Section 5. Sealed bids for the purchase of the Bonds shall be received and canvassed on behalf of the City at ten o'clock a in. on the 13th day of November, 2001, at the City Council Chambers , in the City, and the City Council shall meet on the same date at seven o'clock p in., 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 6. The City Clerk is authorized and directed to publish notice of said sale, as provided by Chapter 75 of the Code of Iowa, in substantially the form as will be placed on file with the Council. Section 7. 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 October 23, 2001. Mayor Attest: City Clerk -4- DORSEY&WIETNEY LLP,ATTORNEYS,DES MOINES,IOWA