HomeMy WebLinkAboutA008 - Letter from Dorsey & Whitney dated November 8, 2001 - November 13 proceedings DORSEY & WHITNEY LLP
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GREAT FALLS
DES MOINES ROCHESTER
LONDON November 8, 2001
TOKYO
ANCHORAGE MISSOULA
SALT LAKE CITY �g, Nsxs. ems,, -- _ _ VANCOUVER
jSHANGHAI
Diane R. Voss NI NOV 3 �,,Ql
City Clerk
City Hall
Post Office Box 811 G��' a �': F _°a
515 Clark Avenue
Ames, Iowa 50010
Re: Ames, Iowa
General Obligation Refunding Bonds
General Obligation Fire Station and Refunding Bonds, Series 2001B
Our File No. 419370-23
Dear Diane:
We have prepared and enclose the necessary proceedings for the November 13 meeting
to carry out the hearing on the Refunding Bonds, combine the Refunding Bonds and Fire Station
Bonds and provide for the sale and issuance of the combined issue. The enclosed resolution
must be completed with the name of the purchaser, the interest rates at which the Bonds are sold
and the resulting tax levy amounts. We understand that Wayne Burggraaf's office 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 covering the hearing on the Refunding Bonds.
2. Resolution combining the bond issues and providing for the sale and issuance of
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.
3. Certificate attesting the transcript, to which should be attached a copy of the
\-J�successful bid.
:, l
DORSEY & WHITNEY LLP
Page 2
4. Certificate of the County Auditor relating to the filing of a certified copy of the
Bond Issuance Resolution in that office.
On November 13, the City Council should meet as scheduled to hold the hearing on the
issuance of the Refunding Bonds 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 enclosed resolution should be 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 will provide you with a completed copy of the resolution for this
1!� purpose after the sale.
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.
O` 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 urs,
obert H. Helmick
RHH
Ames/419370-23/2""'/2 GBS/GBI
Enclosures
cc: Steven Schainker
Dwayne Pitcher
John Klaus
Charles A. Uperaft