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Home My WebLink AboutA008 - Letter from Dorsey & Whitney dated May 23, 2003 DORSEY & WHITNEY LLP ATTORNEYS AT LAW MINNEAPOLIS 801 GRAND, SUITE 3900 TOKYO SEATTLE DES MOINES,IOWA 50309 PALO ALTO NEW YORK TELEPHONE: (515) 283-1000 FARGO WASHINGTON,D.C. FAx: (515) 283-1060 SALT LAKE CITY DENVER GREAT FALLS www.dorseylaw.com LONDON HONG KONG SOUTHERN CALIFORNIA MISSOULA DES MOINES CRISTINA KUHN TOP-ONTO SAN FRANCISCO (515) 699-3273 SHANGHAI ANCHORAGE kuhn.cristina@dorseylaw.com VANCOUVER May 23, 2003 Brian Dieter Chief Financial Officer Mary Greeley Medical Center 11 I I Duff Avenue Ames, IA 50010 Re: Hospital Revenue Refunding Bonds (Mary Greeley Medical Center) Dear Brian: We have prepared and enclose four signature pages to the following documents for execution by the City of Ames. The signature pages enclosed are for the following documents: 1. Indenture of Trust (for signature by the Mayor and the City Clerk and application of Seal). 2. Arbitrage Agreement (for signature by the Mayor and the City Clerk;please do not date). 3. Closing Certificate of the Issuer(for signature by the Mayor and the City Clerk and application of Seal;please do not date). 4. Form 8038 for the Bonds (for signature by the Mayor;please do not date). 5. Escrow Agreement (for signature by the Mayor and the City Clerk). We have also included a copy of the Indenture for review and reference as necessary by the City Council. We will email (or hand-deliver if we attend the meeting) a copy of the Arbitrage Agreement, Closing Certificate of the Issuer, and Escrow Agreement on May 27, 2003 for you to provide to the City. Please bring copies of the documents to the City Council meeting along with the signature pages. DORSEY & WHITNEY LLP Brian Dieter May 23, 2003 Page 2 Please return the signed signature pages to our office. We will hold the signature pages in escrow subject to the closing date. The copies of the documents do not need to be returned to us as they are only for review and reference by the City. We will provide the City and Mary Greeley Medical Center with a full transcript of all final documents after closing. If you have any questions, or if there is anything further we can do to be of assistance, please feel free to contact me. Sincerely, 6 ( �� 4w— Cristina Kuhn CK/lsd Enclosures Form 8038 Information Return for Tax-Exempt (Rev.January 2002) Private Activity Bond Issues OMB No. 1545-0720 Department of the Treasury (Under Internal Revenue Code section 149(e)) Internal Revenue Service ► See separate instructions. Reporting Authority Check if Amended Return ► ❑ 1 Issuer's name 2 Issuer's employer identification number City of Ames, Iowa 3 Number and street(or P.O.box if mail is not delivered to street address) Room/suite 4 Report number 515 Clark Avenue, P.O. Box 811 5 City,town,or post office,state,and ZIP code 6 Date of issue Ames, Iowa 50010-0811 7 Name of issue Hospital Revenue Refunding Bonds 8 CUSIP number (Mary Greeley Medical Center 9 Name and title of officer or legal representative whom the IRS may call for more information 10 Telephone number of officer or legal representative David L. Claypool (515 ) 283-1000 Type of Issue (check the applicable box(es) and enter the issue price for each) Issue Price 11 Exempt facility bond: a ❑ Airport (sections 142(a)(1) and 142(c)) . . . . 11a b El Docks and wharves (sections 142(a)(2) and 142(c)) . . _ 11b c ❑ Water furnishing facilities (sections 142(a)(4) and 142(e)) 11c d ❑ Sewage facilities (section 142(a)(5)) . . . . . . 11d e ❑ Solid waste disposal facilities (section 142(a)(6)) . 11e f ❑ Qualified residential rental projects (sections 142(a)(7) and 142(d)), as follows:. . . . . . 11f Meeting 20-50 test (section 142(d)(1)(A)) . . . . . . , . , , _ ❑ Meeting 40-60 test (section 142(d)(1)(B)) . . . _ . . , , • , . ❑ Meeting 25-60 test (NYC only) (section 142(d)(6)) . . . . . . . . ❑ / Has an election been made for deep rent skewing (section 142(d)(4)(B))? ❑Yes ❑No g El Facilities for the local furnishing of electric energy or gas (sections 142(a)(8) and 142(f)) 11 h ElFacilities allowed under a transitional rule of the Tax Reform Act of 1986 (see instructions) , 11h Facility type 1986 Act section___________________ i ❑ Qualified enterprise zone facility bonds (section 1394) (see instructions) . . 11i j El Qualified empowerment zone facility bonds(section 1394(f)) (see instructions) 11j k ❑ District of Columbia Enterprise Zone facility bonds (section 1400A) (see instructions) . . , 11k ❑ Qualified public educational facility bonds (sections 142(a)(13) and 142(k)) . 111 m ❑ Other. Describe (see instructions) ► -------------- _______________ 11m ------------------------------- 12 ❑ Qualified mortgage bond (section 143(a)) 12 13 ❑ Qualified veterans' mortgage bond (section 143(b)). . . . . . . . . . , ► 13 Check the box if you elect to rebate arbitrage profits to the United States . . . . . ❑ 14 ❑ Qualified small issue bond (section 144(a)) (see instructions). . . . , , , . . _ . ► 14 Check the box for$10 million small issue exemption . . . . . . . . . . . . ❑ 15 ❑ Qualified student loan bond (section 144(b)) 15 16 ❑ Qualified redevelopment bond (section 144(c)) 16 17 ❑ Qualified hospital bond (section 145(c)) (attach schedule—see instructions) . . . 17 18 El Qualified 501(c)(3) nonhospital bond (section 145(b)) (attach schedule—see instructions) 18 Check box if 95% or more of net proceeds will be used only for capital expenditures ► ❑ 19 ❑ Nongovernmental output property bond (treated as private activity bond) (section 141(d)) . 19 20 ❑ Other. Describe (see instructions) ► 20 Description of Bonds (Complete for the entire issue for which this form is being filed.) (a)Final maturity date (b)Issue price (c)Stated redemption p (d)Weighted (e)Yield price at maturity average Maturity 21 $ $ ears % For Paperwork Reduction Act Notice,see page 4 of the separate instructions. Cat-No.49973K Form 8038 (Rev. 1-2002) Form 8038(Rev. 1-2002) page 2 FUMM Uses of Proceeds of Issue (including underwriters' discount) Amount 22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . . . 22 23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . . . . . . . . 23 24 Proceeds used for bond issuance costs(including underwriters'discount) 24 25 Proceeds used for credit enhancement . . . . . . . . . . . 25 26 Proceeds allocated to reasonably required reserve or replacement fund . 26 27 Proceeds used to currently refund prior issue (complete Part VI) . . , 27 28 Proceeds used to advance refund prior issue (complete Part VI) . . . 28 29 Add lines 24 through 28 , , , , , , , , , , , , , , , , , 29 30 Nonrefundin proceeds of the issue (subtract line 29 from line 23 and enter amount here) 30 • Description of Property Financed by Nonrefunding Proceeds Caution: The total of lines 37a through e below must equal line 30 above. Do not complete for qualified student loan bonds, qualified mortgage bonds, or qualified veterans'mortgage bonds. 31 Type of Property Financed by Nonrefunding Proceeds- Amount a Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31a b Buildings and structures . . . . . . . . . . . . . . . . . . . . . . 31b c Equipment with recovery period of more than 5 years . . . . . . . . . . . . 31c d Equipment with recovery period of 5 years or less . . . . . . . . . . . . . . . 31d e Other(describe) Me 32 North American Industry Classification System (NAICS) of the projects financed by nonrefunding proceeds. NAICS Code Amount of nonrefunding proceeds I I NAICS Code Amount of nonrefunding proceeds a $ c $ b $ I d 1 $ IMN-Description of Refunded Bonds (Complete this part only for refunding bonds. 33 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . . . ► years 34 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . . . ► years 35 Enter the last date on which the refunded bonds will be called . . . . . . . . . . . . . ► 36 Enter the dates)the refunded bonds were issued ► Miscellaneous 37 Name of governmental unit(s) approving issue (see the instructions) ►-------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------•------------------------------ 38 Check the box if you have designated any issue under section 265(b)(3)(13)(i)(III) . . . . . . . ► ❑ 39 Check the box if you have elected to pay a penalty in lieu of arbitrage rebate . . . . . . . . ► ❑ 40 Check the box if you have identified a hedge (see instructions) . . . . . . . . . . . . . ► ❑ 41 Check the box if the issue is comprised of qualified redevelopment, qualified small issue, or exempt facilities bonds and provide name and EIN of the primary private user , . . . , , , , , . ► ❑ Name ► EIN Volume Caps Amount 42 Amount of state volume cap allocated to the issuer. Attach copy of state certification 42 43 Amount of issue subject to the unified state volume cap . . . . . . . . . . . 43 44 Amount of issue not subject to the unified state volume cap or other volume limitations: 44 a Of bonds for governmentally owned solid waste facilities, airports,docks,wharves, environmental enhancements of hydroelectric generating facilities, or high-speed intercity rail facilities . . , 44a b Under a carryforward election. Attach a copy of Form 8328 to this return . . . . . . . . 44b c Under transitional rules of the Tax Reform Act of 1986, Enter Act section ►------------------------ 44c d Under the exception for current refunding (section 146(i) and section 1313(a) of the Tax Reform Act of 1986) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44d 45a Amount of issue of qualified veterans' mortgage bonds . . . . . . . . . . . . 45a b Enter the state limit on qualified veterans' mortgage bonds . . . . . . . . . . . 456 46a Amount of section 1394(f)volume cap allocated to issuer. Attach copy of local government certification 46a b Name of empowerment zone Ill---------------------------------------------------------------------------- Amount of section 142 k 5 volume a allocated to issuer. Attach copy of state certification. 1 47 Under penalties erjury,I d ve examined this return,and accompanying schedules and statements,and to the best of my knowledge and belief a ue, fret comp te. Sign ' �O U d�O� �i�11 C- He�e ature of officer ' Date Ted Tedesco Mayor Name of above officer(type or print) Title of officer(type or print) ® Form 8038 (Rev. 1-2002)