HomeMy WebLinkAboutA013 - Letter to Dorsey & Whitney dated October 8, 2002Caring People 'I
Q-14Y Programs
F"eplwnalSe—ice
October 8, 2002
Dorsey & Whitney LLP
801 Grand, Suite 3900
Des Moines, Iowa 50309
Attention Robert H. Helmick
(-Aty Clerk's Office
515 Clark Avenue, 11. 0. Box 811
Ames, 1A 50010
Phone: 515-239-5105
1 , ax: 5 15-239-5 142
RE: Ames, Iowa
$7,580,000 General Obligation Refunding Bonds, Series 2002C
Your File No. 419370-27
Dear Bob:
Enclosed please find the following documents pertaining to the above -referenced file.
Z:�
1. Four fully executed copies of the Final Delivery Ccrtificate
2. IRS 8038 form
3. Four fully executed copies of the Escrow Agreement
4. Printed Bonds, numbered I thrU 8
If You have any questions, please call. Thank you For your assistance.
Sincerely,
]Diane R. Voss
City Clerk
/dry
Enclosures
Ames/419370-27/1`13C & Ltr
419370-27 FDC — GO Refunding Bonds
We, the undersigned, Mayor, City Clerk and City Treasurer, of the City of Ames, in Story
County, Iowa (the "City"), do hereby certify that we are now and were at the time of the
execution of the City's $7,580,000 General Obligation Refunding Bonds, Series 2002C, dated
December 1, 1998 (the "Series 2002C Bonds"), the officers respectively above indicated; and
that in pursuance of Chapter 384 of the Code of Iowa, and a resolution adopted by the City
Council on September 24, 2002 (the "Resolution"), the Series 2002C Bonds have been
heretofore lawfully authorized and this day by us lawfully issued, sold and delivered to the
purchaser thereof (the "Purchaser"), and the Purchaser has paid the City $7,786,315.40, receipt
of which is hereby acknowledged, which amount represents the purchase price of the Series
2002C Bonds ($7,786,315.40), plus accrued interest thereon ($-0-). The Series 2002C Bonds
mature on June I in each of the years, in the respective principal amounts and bear interest
payable semiannually, commencing June 1, 2003, at the respective rates, as follows:
Principal
Interest Rate
Principal
Interest Rate
Year
Amount
Per Annum
Year
Amount
Per Annum
2003
$1,405,000
2.50%
2007
$1,060,000
3.50%
2004
$1,300,000
3.00%
2008
$ 450,000
3.50%
2005
$1,265,000
3.00%
2009
$ 435,000
3.50%
2006
$1,240,000
3.50%
2010
$ 425,000
3.50%
Each of the Series 2002C Bonds has been executed with the facsimile signatures of the
aforesaid Mayor and City Clerk, with a facsimile of the official seal of the City imprinted
thereon; and the aforesaid City Treasurer has authenticated each of the Series 2002C Bonds as
the Registrar and Paying Agent, and has registered the Series 2002C Bonds as to principal and
interest in the names of the owners on the registration books of the City.
We further certify that the Series 2002C Bonds are being issued for the purpose of
providing funds to pay a portion of the cost of advance refunding certain outstanding bonds of
the City, as follows:
Name of Issue
General Obligation Corporate Purpose
Bonds, Series 1994E (the "Series 1994B Bonds")
General Obligation Corporate Purpose
Bonds, Series 1995A (the "Series 1995A Bonds")
General Obligation Corporate Purpose
Bonds, Series 1995E (the "Series 1995B Bonds")
Dated Amount to be Refunded
10/01/94 $ 660,000
05/01/95 $5,030,000
10/01/95 $1,750,000
totaling $7,440,000 (collectively, the "Refunded Bonds"), and scheduled to mature on and after
June 1, 2003, $6,205,000 of which (the "Optional Bonds") are optional for prior redemption on
June 1, 2003 (the "Redemption Date"), upon terms of par and accrued interest.
We further certify that no controversy or litigation is pending, prayed or threatened
involving the incorporation, organization, existence or boundaries of the City or the titles of the
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DORSEY & WHIT NEY UP, ATFORNEYS, DES MOINES, IOWA
Ames/419370-27/FDC & Ltr
aforesaid officers to their respective positions or the proceedings incident to the authorization of
the Series 2002C Bonds or in any way concerning the validity of the Series 2002C Bonds or the
power and duty of the City to provide and apply adequate taxes to the full and prompt payment
of the principal of and interest on the Series 2002C Bonds and that none of the proceedings
incident to the authorization and issuance of the Series 2002C Bonds has been repealed or
rescinded.
We further certify that no petition of protest or objections of any kind have been filed or
made objecting to the issuance of the Series 2002C Bonds or to the levy of taxes to pay the
principal thereof or interest thereon and that no appeal of the decision of the City to issue the
Series 2002C Bonds or to levy such taxes has been taken to the District Court.
We further certify pursuant to Section 148 of the Internal Revenue Code of 1986 (the
"Code") and applicable income tax regulations issued pursuant thereto (the "Regulations") as
follows:
1. Each of the issues of Refunded Bonds is being called for redemption on its first
permissible redemption date next occurring and the refunding of each of the issues of Refunded
Bonds is the first advance refunding thereof. The estimated sources and uses of funds in
connection with the issuance of the Series 2002C Bonds are as follows:
0410 110 1
Purchase Price of Series 2002C Bonds
USES OF FUNDS
Cash deposit to establish cash balance in
Escrow Account
U.S. Treasury Certificate of Indebtedness -
State and Local Government Series (SLGS)
for Escrow Account (purchase price)
Costs of Issuance
Deposit to Debt Service Fund for Series 2002C Bonds
(Excess Proceeds)
Total
$7,786,315.40
M
$7,743,471.00
$ 42,000.00
$ 843.99
$7,786,315.40
2. "SLGS" means the United States Treasury Certificate of Indebtedness - State and
Local Goverment Series (shown on Exhibit A- I of the Verification Report attached hereto).
3. All of the original and investment proceeds of the Refunded Bonds have been
expended as of the date hereof for the purposes for which they were issued. Consequently, upon
retirement of the Refunded Bonds on the Redemption Date, no original or investment proceeds
of the Refunded Bonds will become transferred proceeds of the Series 2002C Bonds within the
meaning of Section 1.148-9 of the Regulations.
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DORSEY & WIETNEY LLP, ATTORNEYS, DES MOINES, IOWA
Ames/419370-27/FDC & Ltr
4. The proceeds of the Series 2002C Bonds will not exceed the amounts needed to
accomplish the refunding of the Refunded Bonds. To the extent that proceeds of the Series
2002C Bonds constitute "excess proceeds" within the meaning of Section 1.148-10(c)(2) of the
Regulations, such excess proceeds will not exceed one percent of the sale proceeds of the Series
2002C Bonds.
5. The Series 2002C Bonds were sold at public sale at a purchase price of
$7,786,315.40, and the City has been advised by its financial advisor, that such price is fair and
reasonable under customary standards applicable to the market. The Purchaser has informed the
City that the initial offering price of the Series 2002C Bonds to the public was $7,805,265.40.
The combined yield on the Series 2002C Bonds and the City's $5,885,000 General Obligation
Corporate Purpose Bonds, Series 2002B, dated and issued concurrently herewith (the "Series
2002B Bonds"), is 2.8067607% (the "Combined Bond Yield"), as shown by Exhibit B of the
Verification Report attached hereto setting out the calculation of such yield.
6. From the sale proceeds of the Series 2002C Bonds, $7,743,471.00 has been
deposited and set aside into an escrow account (the "Escrow Account") with the Bank, as escrow
agent, pursuant to an Escrow Agreement between the City and the Bank and invested by the
purchase of the SLGS maturing at such times and in such principal and interest amounts as will
be sufficient, with the cash balance in the Escrow Account, to pay when due the interest on and
principal of the Refunded Bonds and to prepay the principal of the Optional Bonds on the
Redemption Date, all as provided in the Escrow Agreement. The yield on the SLGS, computed
in accordance with Section 1.148-5 of the Regulations, is 1.5776058% per annum, as shown on
Exhibit A-1 of the Verification Report attached hereto, which yield is less than the Combined
Bond Yield.
7. From the sale proceeds of the Series 2002C Bonds, $0.41 has been deposited and
set aside into the Escrow Account to provide for a cash balance in the Escrow Account.
8. From the sale proceeds of the Series 2002C Bonds, $42,000 has been deposited
with the Bank and immediately upon receipt thereof and in no event later than 30 days after the
date hereof, will be disbursed to pay the issuance costs related to the Series 2002C Bonds. Until
such time, the aforementioned amount may be invested without restriction as to yield pursuant to
Section 1.148-9(d)(2)(iv) of the Regulations.
9. From the sale proceeds of the Series 2002C Bonds, $843.99. (Excess Proceeds)
has been deposited into the City's Debt Service Fund and will be applied to the payment of the
interest on the Series 2002C Bonds due on June 1, 2003, and until such time may be invested
without restriction as to yield. The amount of Excess Proceeds does not exceed more than 1% of
the original sale proceeds of the Series 2002C Bonds.
10. The City will accumulate amounts to be used to pay debt service on the Series
2002C Bonds in the City's Debt Service Fund. The amounts to be accumulated are estimated to
be sufficient to pay principal and interest on the Series 2002C Bonds as such becomes due and it
is not expected that the Series 2002C Bonds will be paid from any other fund, nor is any other
fund pledged as security for the Series 2002C Bonds. The amounts appropriated and on hand
from time to time in the Debt Service Fund are not expected to exceed an amount equal to
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DORSEY & WHI,rNEY LIT, ATI-ORNEYS, DES MOINES, IOWA
ATnes/419370-27/FL)C & Ur
principal and interest due on the Series 2002C Bonds through the next following June I plus a
reasonable carryover, as permitted for a "bona fide debt service fund" in Section 1.148-1(b) of
the Regulations. If amounts in the Debt Service Fund at any time exceed the foregoing sum by
an amount in excess of the "minor portion" permitted the Series 2002C Bonds by Section 1. 148-
2(g) of the Regulations, such excess shall be invested at a yield not exceeding the Combined
Bond Yield as set forth in Section 5 above, unless an opinion is obtained from bond counsel
indicating that investment yield restriction is not required
11. The weighted average maturity of the Series 2002C Bonds does not exceed 120%
of the remaining reasonably expected economic life of the facilities originally financed by the
Refunded Bonds.
12. The Series 2002C Bonds are not "hedge bonds" as defined in Section 148(g) of
the Code because the City reasonably expected to expend all of the net sale proceeds of the
Refunded Bonds on the projects for which the Refunded Bonds were issued within 3 years of the
date of issuance thereof and none of the proceeds of the Refunded Bonds were invested in
nonpurpose investments with a substantially guaranteed yield of 4 years or more.
13. There are no other governmental obligations of the City: (i) sold at substantially
the same time as the Series 2002C Bonds, (ii) sold pursuant to the same plan of financing with
the Series 2002C Bonds, and (iii) reasonably expected to be paid from substantially the same
source of funds as will be used to pay the Series 2002C Bonds, except for the City's Series
2002B Bonds.
14. The City has not received notice that its certifications may not be relied upon with
respect to its own issues, nor has it been advised that the Commissioner of Internal Revenue is
contemplating listing the City as a governmental unit whose certifications may not be relied upon
with respect to its issues of governmental obligations.
15. This certification is made in compliance with Section 1.148-2(b)(2) of the
Regulations and is delivered as part of the transcript of proceedings and accompanying
certificates with respect to the Series 2002C Bonds.
16. To the best of our knowledge and belief, there are no other facts, estimates and
circumstances that would materially change the foregoing conclusions.
17. On the basis of the foregoing, it is not expected that the proceeds of the Series
2002C Bonds will be used in a manner that would cause the Series 2002C Bonds to be "arbitrage
bonds", under Section 148 of the Code and the Regulations.
We further certify that due provision has been made for the collection of taxes sufficient
to pay the principal of and interest on the Series 2002C Bonds when due. All payments coming
due before the collection of any such taxes will be paid promptly when due from legally
available funds.
We further certify that all meetings held in connection with the Series 2002C Bonds were
open to the public at a place reasonably accessible to the public and that notice was given at least
24 hours prior to the commencement of all meetings by advising the news media who requested
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DORSEY & WHITNEY LLP, A'rrORNEYS, DES MOINES, IOWA
Aines/419370-27/Fl7C & Ltr
notice of the time, date, place and the tentative agenda and by posting such notice and agenda at
the administrative offices of the City or other principal office of the City on a bulletin board or
other prominent place which is easily accessible to the public and is the place designated for the
purpose of posting notices of meetings.
IN WITNESS WHEREOF, we have hereunto affixed our respective official signatures as
of October 15, 2002.
(Seal)
CITY OF MES, I A
Mayor
City Clerk
City Treasuffer
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
419370-27 (GO Refdg Bonds)
Form 8038-G I Information Return for Tax -Exempt Governmental Obligations
(Rev. November 2000) N* Under Internal Revenue Code section 149(e) OMB No. 1545-0720
Departrnent of the Treasury 10- See separate Instructions.
Interna(Revenue service Caution: ff the issue price is under $ 100, 000, use Form 8038-GC.
Reportinq Authority If Amended Return, check here 10, El
1
Issuer's name
2 Issuer's employer identification number
City of Ames
42: 6004218
3
Number and street (or P.O. box if mail is not delivered to street address)
Room/suite
4 Report number
515 Clark Avenue
2002-3
5
City, town, or post office, state, and ZIP code
6 Date of issue
Ames, Iowa 50010
10/15/02
7
Name of issue
8 CUSIP number
General Obligation Refunding Bonds, Series 2002C
030807
9
Name and title of officer or legal representative whom the IRS may call for more information
10 TelephormrTberofofficeorlegafepesctative
Dorsey & Whitney LILP, Des Moines, [A Bond Counsel
( 515 ) 283-1000
jj&aa iype. or issue tcril applicable box(es) and enter the issue price) See instructions and attach schedule
11 El Education . . . . . . . . . . . . . . . . . . .
12 El Health and hospital . . . . . . . . . . . . . . . . . . . . . . .
El 13 Transportation . , . . . . . . . . . . . . . . . . . . . .
14 El Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 0 Environment (including sewage bonds) . . . . . . . . . . . . . . . . .
16 El Housing . . . . . . . . . . . . . . . . . .
17 EJ Utilities . . . . . . . . . . . . . . .
18 R Other. Describe jo, refunding
19 If obligations are TANS or RANs, check box 10- 0 If obligations are BANS, check box lo, El
20 If obligations are in the form of a lease or installment sale, check box . . . . . . 0- El
11
12
13
14
15
16
17
10
1 7,805,265
Descri tion of Obligations. Complete for the entire issue for which this form is bein filed.
(a) Final maturity date
(b) Issue price
(c) Stated redemption
price at maturity
(d) Weighted
average maturity
(e) Yield
21
06/01/10
$ 7,805,265
$ 7,580,000
3.233 ears
2.8068 %
Uses of Proceeds of Bond Issue (including underwriters' discount)
22 Proceeds used for accrued interest . . . . . . . . . . . . . .
23 Issue price of entire issue (enter amount from line 21, column (b))
0
24 Proceeds used for bond issuance costs (including underwriters' discount) 24 66,9�50
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 issues . . . . 27 7,74E3,471
28 Proceeds used to advance refund prior issues . . . . . 28
29 Total (add lines 24 through 28) . . . . . . . . . . . . . . . . . . . . . .
30 Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here) . . .
22
23
__7,805,265
29
7,804,421
30
844
MM Description of Refunded Bonds (Complete this part only for refunding bonds.)
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . * years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . 00. 3.3599 years
33 Enter the last date on which the refunded bonds will be called . . . . . . . . . . . M. 06101/03
34 Enter the date(s) the refunded bonds were issued lo• 10/25/94,05/02&10/19/95
Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) 'nvecont* ' 35 1
36a Enter the amount of gross proceeds invested or to be isted in a guaranteed investment contract (see instW" 36a
b Enter the final maturity date of the guaranteed investment contract ►
37 Pooled financings: a Proceeds of this issm that are to be used to make loans to other governmental units _37a
b If this issue is a loan made from the proceeds of another tax-exempt issue, check box Ol- El and enter the name of the
issuer 11i and the date of the issue 00-
38 If the issuer has designated the issue under section 265(b)(3)(B)(i)(111) (small issuer exception), check box 00' ❑
39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . 0, ❑
40 If the issuer has identified a hedge, check box . . . . . . . . . . . . 0, El
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
and belief, they are true, correct, and complete.
10/15/02
Signature of issuer's authorized representative
Date
Diane R. Voss, City Clerk
Type or print name and title
For Paperwork Reduction Act Notice, see page 2 of the Instructions. Cat. No. 63773S Form 8038-G (Rev. 11-2000)
Ames/419370-271Escrow Agr
ESCROW AGREEMENT
THIS ESCROW AGREEMENT, dated as of October 15, 2002 (the Agreement"),
between the City of Ames, Iowa (the "Issuer"), and First American Bank, Urbandale, Iowa, as
Escrow Agent for the Refunded Bonds hereinafter described (the "Agent");
W I TN E S S ET 11:
WHEREAS, the City of Ames, Iowa (the "City"), has heretofore determined to advance
refund certain outstanding bonds of the City, as follows:
Name of Issue
Dated Amount to be Refunded
General Obligation Corporate Purpose Bonds,
Series 1994B 10/01/94 $ 660,000
General Obligation Corporate Purpose Bonds,
Series 1995A 05/01/95 $5,030,000
General Obligation Corporate Purpose Bonds,
Series 1995B 10/01/95 $1,400,000
totaling $7,440,000 (collectively, the "Refunded Bonds"), scheduled to mature on and after June
1, 2003, $6,205,000 of which (the "Optional Bonds") are optional for prior redemption on June
1, 2003 (the "Redemption Date"), upon terms of par and accrued interest; and
WHEREAS, the Issuer has determined to issue its $7,580,000 General Obligation
Refunding Bonds, Series 2002C, dated October 1, 2002 (the "Series 2002C Bonds"), in order to:
(1) pay the costs of issuance of the Series 2002C Bonds; (2) pay interest on and principal of the
Refunded Bonds as the same becomes due to and including the Redemption Date; and (3)
redeem the principal of the Optional Bonds on the Redemption Date; and
WHEREAS, for such purposes, the Issuer has determined to deposit the proceeds from
the sale of the Series 2002C Bonds in the total amount of $7,786,315.40 with the Agent in
immediately available funds; and
WHEREAS, sufficient funds of such amounts so deposited shall be used to purchase
direct obligations of the United States of America listed on Exhibit A -I of the Verification
Report attached hereto (the "Government Obligations") which will mature in principal amounts
and bear interest at such times so that sufficient funds will be available from such maturing
principal and interest amounts, together with the cash balance in the Escrow Account, to: (1) pay
interest on and principal of the Refunded Bonds as the same becomes due to and including the
Redemption Date; and (2) redeem the principal of the Optional Bonds on the Redemption Date;
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants
hereinafter set forth, the parties hereto agree as follows:
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DORSEY & WWTNEY LLP, ATTORNEYS, DES MOINES, IOWA
Ames/419370-27/r-scrow Agr
1. There is hereby created and established with the Agent a special and irrevocable
escrow account designated the "City of Ames Series 1994 and 1995 Bond Escrow Account" (the
"Escrow Account") to be held in the custody of the Agent.
2. The Issuer represents, covenants and warrants that there will always be, on any
interest or principal payment date for the Refunded Bonds, sufficient principal amounts of and
interest income from the Government Obligations and cash in the Escrow Account to pay the
interest on and principal of the Refunded Bonds when due to and including the Redemption
Date, and that there will be sufficient principal amounts of and interest income from the
Government Obligations and cash in the Escrow Account to prepay the principal of the Optional
Bonds on the Redemption Date.
3. Concurrently with the execution of this Agreement, the Issuer herewith deposits
or causes to be deposited with the Agent for the benefit of the owners of the Refunded Bonds the
amounts set forth in the preamble hereof in immediately available funds, and the Agent hereby
acknowledges receipt of such funds. Such funds shall be disposed of as follows:
(a) $42,000 shall be used to pay expenses of issuance related to
the Series 2002C Bonds;
(b) $7,743,471 shall be used to purchase the Government
Obligations;
(c) $0.41 shall be held as an initial cash balance in the Escrow
Account; and
A $843.99.(excess proceeds) shall be remitted to the Issuer
for deposit into the Issuer's sinking fund for the Series
2002C Bonds and shall be applied to the payment of the
interest due on the Series 2002C Bonds on June 1, 2003.
4. Concurrently with the execution of this Agreement, the amount referred to in (b)
above shall be used to purchase the Government Obligations, such amount being the cost of the
Government Obligations. Except for the aforementioned amount referred to in (d) above to be
held in the Escrow Account as a cash balance, the Agent, immediately upon receipt thereof and
in no event later than 30 days from the date hereof, shall disburse the proceeds remaining, after
the purchase of the Government Obligations, in the respective amounts referred to in (a) and (c)
above for the payment of issuance costs and for deposit into the Issuer's sinking fund. The
issuance costs referred to above include the sum recited in paragraph 9 hereof.
S. The Agent agrees to collect all payments of principal of and interest on the
Government Obligations on behalf of the Issuer and, on each payment date for the Refunded
Bonds, shall disburse the same to the Issuer for the payment of interest on and principal of the
Refunded Bonds then due, to and including the Redemption Date; and, on the Redemption Date,
for the prepayment of principal of the Optional Bonds on the Redemption Date, and the
Refunded Bonds shall be canceled and rendered non-negotiable after such payment and
prepayment.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Ames/419370-27/Escrow Agr
6. If at any time it shall appear to the Agent that the funds in the Escrow Account
allocable for such use hereunder will not be sufficient to make any payment due under the terms
of this Agreement as hereinbefore provided, the Agent shall immediately notify the Issuer. The
Issuer thereupon shall forthwith deposit in the Escrow Account, from legally available funds,
such additional funds as may be required to fully pay the amounts due and payable.
7. Within 30 days of the close of each fiscal year, commencing with the fiscal year
ending June 30, 2003, until termination of the Escrow Account, and within 60 days of
termination of the Escrow Account, the Agent shall submit to the Issuer a report on the Escrow
Account covering all investments held and all money received therein and all payments made
therefrom during the preceding fiscal year or portion thereof.
8. Not less than 60 days prior to the Redemption Date, the Agent agrees to send
notice of prepayment of the Optional Bonds to the registered owners of the Optional Bonds, as
shown by the records of the Issuer, not less than 30 and not more than 45 days prior to the
Redemption Date by certified mail, return receipt requested.
9. The owners of the Refunded Bonds from time to time outstanding shall have an
express lien on all funds and Government Obligations in the Escrow Account until used and
applied in accordance with this Agreement.
10. The Agent shall receive $500 as compensation for its services as Escrow Agent,
and the Agent expressly waives any lien upon or claim against the funds and investments in the
Escrow Account.
11. The parties further agree that third persons may rely upon the provisions of this
Agreement, including the owners of the Refunded Bonds outstanding from time to time, and the
purchasers of the Series 2002C Bonds, and this Agreement shall not be revocable if such
revocation should be to the prejudice of any third person.
12. In order to ensure continuing compliance with Section 148 of the Internal
Revenue Code, and present Internal Revenue Service Regulations promulgated thereunder, the
Agent agrees that it will not reinvest any cash received in payment of the principal of and interest
on the Government Obligations held in the Escrow Account. Said prohibition on reinvestment
shall continue unless and until an opinion is received from nationally recognized bond counsel
that reinvestments, as specified in said opinion, may be made in a manner consistent with said
Section 148 and then existing Regulations.
13. When payment or prepayment has been made in full for principal of and interest
on all of the Refunded Bonds, and all of the Refunded Bonds have been canceled as aforesaid,
any funds remaining in the Escrow Account shall be paid to the Issuer.
14. This Agreement shall terminate only at such time as payment or prepayment of
interest and redemption premium on and principal of the Refunded Bonds have been paid in full.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Ames/419370-27/Escrow Agr
IN WITNESS WHEREOF, the undersigned have hereinafter executed this Agreement as
of the date first above written.
Attest:
City Clerk
(Seal)
CITY OF AMES, IOWA
By
Mayor
FIRST AMERICAN BANK
Urbandale, Iowa
I -A
(Signature)
(Title)
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DORSEY & WMINFY LLP, ATTORNEYS, DES MOWES, IOWA
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 1 $1,405,000
RATE MATURITY DATE BOND DATE CUSIP
2.50% June 1, 2003 October 15, 2002 030807 XZ 9
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION FOUR HUNDRED FIVE THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar,
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary,
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit, revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN 'TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002.
Attest:
C1\&a4V-)-R .
City Clerk
Registration Date: October 15, 2002
IWA
By cm� 9,
Mayor
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the withi mentioned resolution.
t
asurer, _s
City Treasurer, Ames, lo a
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall he construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Cust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
-
PLE
ASE EASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint_
thereof with full power of substitution.
Dated:
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 2
$1,300,000
RATE MATURITY DATE BOND DATE CUSIP
3.00% June 1, 2004 October 15, 2002 030807 YA 3
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION THREE HUNDRED THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying AgcnC'), with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner it the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 Gen" Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly aulhorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit, revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002.
CITY OF AW, TOWA
By
Mayor
Attest:
6...........
A 4... �E
City Clerk
Registration Date: October 15, 2002
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the wiltbi entioned resolution.
City trrcasurer, Ames, Ioff,
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable taws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
FLEEZE INSERT SOCIAL �SECURnY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint _
thereof with full power of substitution.
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment Must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 3
$1,265,000
RATE MATURITY DATE BOND DATE CUSIP
3.00% June 1, 2005 October 15, 2002 030807 YB I
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION TWO HUNDRED SIXTY-FIVE THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent % with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit, revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed my constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seat, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002.
CITY OF g, MV-A
By
Mayor
Attest:
CQW
City Clerk
�, uo-j'
Registration Date: October 15, 2002
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described inthe withi mentioned resolution.
City Treasurer, "Ames, a
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint
thereof with full power of substitution.
Dated:
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 4 $1,240,000
RATE MATURITY DATE BOND DATE CUSIP
3.50% June 1, 2006 October 15, 2002 030807 YC 9
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION TWO HUNDRED FORTY THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar,
This Bond is one of a duty authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division IN of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall not be affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002,
CITY OFA MWA
By
Mayor
Attest: I 01MM6
..............
C�Aa4 T 11�
City Clerk
Registration Date: October 15, 2002
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the with' -mentioned resoluti
S�
Cr tfTriasurer, Ames, I I a
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint _
thereof with full power of substitution.
Dated:
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 5 $1,060,000
RATE MATURITY DATE BOND DATE CUSIP
3.5 V16 June 1, 2007 October 15, 2002 030807 YD 7
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date Of this
Bond to
or registered assigns, the principal sum of
Cede & Co.
ONE MILLION SIXTY THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum, Specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bend Registrar.
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding S660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding S5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
S 1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been property existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002,
Attest:
City Clerk
Registration Date: October 15, 2002
�CITY OF ' A
By
Mayor
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the within-r#ntioned resolution.
City,Xr'easurer, Ames, Iffa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint _
thereof with full power of substitution.
Dated:
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever,
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 6 $450,000
RATE MATURITY DATE BOND DATE CUSIP
3.50% June 1, 2008 October 15, 2002 030807 YE 5
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date Of this
Bond to
or registered assigns, the principal sum of
Cede & Co.
FOUR HUNDRED FIFTY THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum, specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of Paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been property existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit, revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002.
Attest:
City Clerk
Registration Date: October 15, 2002
.TWA.
y BCrrl�
Mayor
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the with' -mentioned resolution.
d-ty—fleasurer, Ames, wa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney, to transfer this Bond on the books kept for registration
thereof with full power of substitution
Dated:
Signature guaranteed:
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 7
$435,000
RATE MATURITY DATE BOND DATE CUSIP
3.50% June 1, 2009 October 15, 2002 030807 YF 2
The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
or registered assigns, the principal sum of
Cede & Co.
FOUR HUNDRED THIRTY-FIVE THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a duly authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the laws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due-, that the faith,
credit, revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be seated with the facsimile of its
official seat, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002.
CITY
By. .....
Mayor
Attest: 000.0.41%4�
...........
tl
J
City Clerk
Registration Date: October 15, 2002
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the within- entioned resolution.
Ci Tr,W , surer, Ames, 1 a
V
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint _
thereof with full power of substitution.
Dated:
Signature guaranteed:
Attorney, to transfer this Bond on the books kept for registration
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
GENERAL OBLIGATION REFUNDING BOND,
SERIES 2002C
No. 8
$425,000
RATE MATURITY DATE BOND DATE CUSIP
3. 5 (r/o June 1, 2010 October 15, 2002 030807 YG 0
The City of Ames (the "City'), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this
Bond to
Cede & Co.
or registered assigns, the principal sum of
FOUR HUNDRED TWENTY-FIVE THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified
above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of
each year, commencing June 1, 2003. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at
the close of business on the fifteenth day of the month next preceding the interest payment date and shall be paid by check or draft mailed to the
registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve
30-day months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a duty authorized series of bonds (the "Series 2002C Bonds") issued by the City pursuant to and in strict
compliance with the provisions of Division III of Chapter 384 and Chapter 76 of the Code of Iowa, 2001, and all laws amendatory thereof and
supplementary thereto, and in conformity with a resolution of the City Council duly passed, approved and recorded for the purpose of paying
costs of advance refunding the City's outstanding $660,000 General Obligation Corporate Purpose Bonds, Series 1994B, dated October 1, 1994,
the City's outstanding $5,030,000 General Obligation Corporate Purpose Bonds, Series 1995A, dated May 1, 1995, and the City's outstanding
$1,750,000 General Obligation Corporate Purpose Bonds, Series 1995B, dated October 1, 1995.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the
City in the office of the Bond Registrar, after which no transfer shall be valid unless made on said books and then only upon presentation of this
Bond to the Bond Registrar, together with either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form hereon
completed and duly executed by the registered owner or the duly authorized attorney for such registered owner,
The City, the Bond Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of principal hereof, premium, if any, and interest due hereon and for all other purposes, and the
City, the Bond Registrar and the Paying Agent shall notbe affected by any notice to the contrary.
And It Is Hereby Certified and Recited that all acts, conditions and things required by the ►aws and Constitution of the State of Iowa,
to exist, to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent, had, done and
performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable
property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith,
credit revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both
principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the City of Ames, Iowa, by its City Council, has caused this Bond to be sealed with the facsimile of its
official seal, to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of
its City Clerk, all as of October 15, 2002,
TOWA
OF S,
y BCM
Mayor
Attest:
C.dV) T - I/Azlfl
City Clerk E)
Registration Date: October 15, 2002
BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002C Bonds described in the within -mentioned resolution.
dreasurer, Ameg.Aowa
U
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM as tenants in common
TEN ENT as tenants by the
entireties
JT TEN as joint tenants with right
of survivorship and not as
tenants in common
UTMA
(Gust)
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
M16313[4qZWJI3Q1
For valuable consideration, receipt of which is hereby acknowledged, the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney, to transfer this Bond on the books kept for registration
thereof with full power of substitution.
Dated:
Signature guaranteed:
NOTICE: The signature to this Assignment must correspond with
the name of the registered owner as it appears on this Bond in
every particular, without alteration or enlargement or any change
whatever.
819864746380 021-
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