HomeMy WebLinkAboutA010 - Letter to Dorsey & Whitney dated October 8, 2002 - final delivery certificate, Form 8038, BondsCaring People 14
Qualiry programs
Etceptional Service
October 8, 2002
Dorsey & Whitney LLP
801 Grand, Suite 3900
Des Moines, Iowa 50309
Attention Robert 11. Helmick
RE: Ames, Iowa
$7,525,000 Electric Revenue Refunding Bonds, Series 2002D
Your File No. 419370-28
Dear Bob:
City Clerk's Office
515 Clark AVCMIC, P. (). BOX 811
Anics, 1A 50010
Phone: 515-239-5105
Fax: 515-219-51,42
Enclosed please find the following documents pertaining to the above -referenced file.
1. Two fully executed copies of the Final Delivery Certificate
2. IRS 8038 forn'i
3. Printed Bonds, numbered I thru 6
If You have any questions, please call, Thank you for your assistance.
Sincerely,
Diane R. Voss
City Clerk
/dry
Enclosures
Ames/419370-28NDC & Ltr
419370-28 FDC
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 $7,525,000 Electric Revenue Refunding Bonds, Series 2002D, dated
October 15, 2002 (the "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 Bonds have been heretofore lawfully authorized and this day by
us lawfully authorized, sold and issued to the purchaser thereof, and the purchaser has paid the
City $7,561,998.12, receipt of which is hereby acknowledged, which amount represents the
purchase price of the Bonds ($7,561,998.12), plus accrued interest thereon ($-0-). The Bonds
mature on January I in each of the years, in the respective principal amounts and bear interest
payable semiannually, commencing January 1, 2003, at the respective rates, as follows:
Principal
Interest Rate
Principal
Interest Rate
Year
Amount
Per Annurn
Year
Amount
Per Annurn
2003
$ 220,000
2.50%
2006
$1,825,000
2.50%
2004
$1,740,000
2.50%
2007
$1,860,000
2.75%
2005
$1,780,000
2.50%
2008
$ 100,000
3.00%
Each of the 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; the certificate
on the back of each Bond has been executed with the facsimile signature of the aforesaid City
Treasurer; and the City Treasurer has authenticated each of the Bonds as the Registrar and
Paying Agent, and registered the Bonds as to principal and interest in the names of the owners on
the registration books of the City.
We ftu-ther certify that the Bonds are being issued for the purpose of refunding the City's
$9,985,000 Electric Revenue Refunding Bonds, Series 1993, dated May 1, 1993, on November
15, 2002 (the "Redemption Date"), which are hereinafter referred to as the "Refunded
Obligations".
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
aforesaid officers to their respective positions, or the proceedings incident to the authorization of
the Bonds or in any way concerning the validity of the Bonds or the power and duty of the City
to appropriate and apply the Net Revenues from the operation of the Municipal Electric Light
and Power Plant and System of the City (the "Utility") to the full and prompt payment of the
principal of and interest on the Bonds, and that none of the proceedings incident to the
authorization and issuance of the Bonds has been repealed or rescinded.
We further certify that no appeal of the decision of the City Council to issue the Bonds
has been taken to the district court.
4-
DORSEY & WIETNEY LLP, ATTORNEYS, DES MOINES, IOWA
1%
Ames/419370-28/FDC & Ltr
We further certify that all meetings held in connection with the 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 notice of
the time, date, place and the tentative agenda and by posting such notice and agenda at the City
Hall or 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.
The Bonds are payable from the Net Revenues of the Utility, which will be collected in
the City's Electric Revenue Bond Sinking Fund and applied to the payment of interest on the
Bonds on each January I and July I and principal of the Bonds on each January I (the 12-month
period ending on each January I being herein referred to as a "Bond Year"); the Sinking Fund is
used primarily to achieve a proper matching of revenues with principal and interest payments
within each Bond Year; the Sinking Fund will be depleted at least once each Bond Year except
for a reasonable carryover amount not to exceed the greater of (i) the earnings on the fund for the
immediately preceding Bond Year; or (ii) 1/12 of the principal and interest payments on the
Bonds for the immediately preceding Bond Year; amounts on deposit in the Sinking Fund will be
invested by the City without restriction as to yield for a period of 13 months after their date of
deposit.
We further certify that there are no other obligations of any kind now outstanding secured
by or payable from the revenues to be derived from the operation of the Utility.
We further certify as follows:
I The estimated sources and uses of funds in connection with the Bonds are as
follows:
USES
Purchase price of Bonds $ 7,561,998.12
Transfer from 1993 Bond Debt Service Fund $ 1,438,488.00
Transfer from 1993 Bond Reserve Fund) $ 1,986,010.00
$10,986,496.12
Deposit to Current Refunding Account $10,180,662.33
Costs of issuance $ 51,000.00
Reserve Fund for Refunding Bonds $ 752,500.00
Excess Proceeds $ 2,333.79
$10,986,496.12
2. The sales proceeds of the Bonds are $7,611,331.35 (the "Sales Proceeds"), the
same being the Issue Price thereof.
3. The net sales proceeds of the Bonds are $6,858,831.35 (the "Net Sales
Proceeds"), the same being the Sales Proceeds as determined in number 2 above
-2-
DORSEY & WMTNEY LLP, ATTORNEYS, DES MOINES, IOWA
Arnes/419370-28/FDC & Ltr
($7,611,331.35), less the portion of such Sales Proceeds deposited into a reasonably required
reserve or replacement fund ($752,500).
4. $6,756,164.33 of the Net Sales Proceeds has been deposited into a separate
Refunding Account and, together with interest earnings thereon and other legally available funds
of the City, will be applied to the redemption of the Refunded Obligations on the Redemption
Date and, until so applied, will be invested by the City without restriction as to yield.
5. $51,000 of the Net Sales Proceeds will be disbursed to pay the issuance costs
related to the issuance of the Bonds within 30 days of the date hereof. Until such time, the
aforementioned amount may be invested without restriction as to yield.
6. $2,333.79 (excess proceeds) will be set aside and deposited into the City's
Electric Revenue Bond Sinking Fund as provided in the Resolution and used to pay interest on
the Bonds due on the first interest payment date.
7. (a) All of the original and investment proceeds of the Refunded
Obligations have been expended for the purpose for which they were issued.
(b) Not more than 50% of the proceeds of the Refunded Obligations
were invested in nonpurpose investments (as defined in Section 148(f)(6)(A) of
the Internal Revenue Code of 1986, as amended (the "Code")) having a
substantially guaranteed yield for four years or more (e.g., a four-year guaranteed
investment contract or a Treasury Obligation that does not mature for four years).
(c) Not more than 50% of the Net Sales Proceeds will be invested in
nonpurpose investments (as defined in Section 148(f)(6)(A) of the Internal
Revenue Code of 1986, as amended (the "Code")) having a substantially
guaranteed yield for four years or more (e.g., a four-year guaranteed investment
contract or a Treasury Obligation that does not mature for four years).
8. The weighted average maturity of the Bonds does not exceed 120% of the
weighted average of the remaining reasonably expected economic life of the facilities originally
financed by the Refunded Obligations.
9. To our best knowledge and belief, there are no facts, estimates or circumstances
which would materially change the foregoing conclusions.
On the basis of the foregoing, it is not expected that the Net Sales Proceeds will be used
in a manner that would cause the Bonds to be "arbitrage bonds" under Section 148 of the Code
and the regulations prescribed under that section. The City has not been notified of any listing or
proposed listing of it by the Internal Revenue Service as a bond issuer whose arbitrage
certifications may not be relied upon.
We further certify that the original purchaser of the Bonds has advised the City that the
reasonably expected reoffering price of the Bonds to the public is $7,611,331.35.
-3-
DORSEY & WFUTNEY LLP, ATTORNEYS, DES MOINES, IOWA
Ames/419370-28/FDC & Ur
IN WITNESS WHEREOF, we have hereunto affixed our hands and the seal of the
aforementioned City, as of October 15, 2002.
(Seal)
CITY OF AMES, IOWA
Mayor
City Clerk
City
4-
DORSEY & WHFrNEY LLP, ATTORNEYS, DES MOINES, IOWA
419370-28 (Elec Rev Refdg Bonds)
Form 8038-G
(Rev. November 2000)
Department of the Treasury
Internal Revenue Service
179FI—_ Ranartinn
Information Return for Tax -Exempt Governmental Obligations
10- Under Internal Revenue Code section 149(e) OMB No. 1545-0720
* See separate Instructions.
Caution: If the issue price is under $ 100,000, use Form 8038-GC.
If Amended Return, check here 10,
1
Issuer's name
2 Issuer's employeridentification 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
2002-4
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
Electric Revenue Refunding Bonds, Series 2002D
030843
9
Name and Utle of officer or legal representative whom the IRS may call for more information
10 Telephormrrberofofficeorlegateliesetative
Dorsey & Whitney LLP, Des Moines, IA Bond Counsel
I ( 515 ) 283-1000
NMI Type of Issue (check applicable box(es) and enter the issue price) See instructions anci attacn scneouie
11 El Education . . . . . . . . . . . . . . . . . . . . . .
12 El Health and hospital . . . . . . . . . . . . . . . . . . . . . . .
13 ❑ Transportation . . . . . . . . . . . . . . . . . . . . . . . .
14 ❑ Public safety . . . . . . . . . . . . . . . . . . .
is El Environment (including sewage bonds) . . . . . . . . . . . . .
16 El Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17 0 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18 2 Other. Describe I, refunding
19 If obligations are TANS or RANs, check box 10- El If obligations are BANS, check box 10, ❑
20 If obligations are in the form of a lease or installment sale, check box . . . . . . 10. El
11
12
13
14
15
16
17
18
7,611,331
r.-T M3 Description f Obliqlations. Corn tire issue for which this form is bein filed
AM plete r the en I farm is De'n
(a) Final maturity date
(b) Issue price
(c) Stated redemption
price at maturity
(d) Weighted
, to,
average maturity
average
(e) Yield
21 01101108
-
$ 7,611,331
1 $ 7,525,000
2.698 years
2.3190.3190 %
N'u M IIXUses 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)) . . . . . . . . . . .
24 Proceeds used for bond issuance costs (including underwriters' discount) 24 70,333
25 Proceeds used for credit enhancement 25 30,000
26 Proceeds allocated to reasonably required reserve or replacement fund 26 752,500
27 Proceeds used to currently refund prior issues . . . . . 27 6,756,164
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
7,611,331
29
7608,997
,
30
2,334
Description of Refunded Bonds (Complete this part oniv for refunding bonds.)
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . 00, 2.8616 years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded , . . 10, years
33 Enter the last date on which the refunded bonds will be called . . . . . . . . . . . ► 11115/02
34 Enter the clate(s) the refunded bonds were issued 10- 05127/93
FIRM Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141 (b)(5) 35
36a Enter the arrourt of gross proceeds invested or to be invested in a gua-arteed investment contract (see iris=" 36a
b Enter the final maturity date of the guaranteed investment contract 00, WN
37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other gavernirrentall units 37a
b If this issue is a loan made from the proceeds of another tax-exempt issue, check box III El and enter the name of the
issuer lo- and the date of the issue ►
38 If the issuer has designated the issue under section 265(b)(3)(13)(i)(111) (small issuer exception), check box . . . ► F1
39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . 00` [J
40 If the issuer has identified a hedge, check box . . . . . . . 10` El
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the hest of my knowledge
and belief, they are true, correct, and complete.
Sign
Here
10/15/02
Signature of issuer's authorized representative Date
For Paperwork Reduction Act Notice, see page 2 of the Instructions.
0
Diane R. Voss, City Clerk
Type or print name and title
Cat. No. 637735 Form 8038-G (Rev, 11-2000)
UNITED STATES OF AMERICA
STATE OF IOWA COUNTY OF STORY
CITY OF AMES
ELECTRIC REVENUE REFUNDING BOND
SERIES 2002D
No. 1 $220,000
RATE MATURITY DATE BOND DATE CUSIP
2.50% January 1, 2003 October 15,2002 030843 EY 8
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
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 January I and July I of each
year, commencing January 1, 2003, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable to the registered owner appearing on the bond 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.
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 series of Electric Revenue Refunding Bonds, Series 2002D (the "Series 2002D Bonds"), issued in the aggregate
principal amount of $7,525,000, by the City pursuant to and in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof and supplemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the payment of the Series 2002D Bonds (the "Series 2002D Bond Resolution'j, and reference is
hereby made to the Series 2002D Bond Resolution for a more complete statement as to the source of payment of the Series 2002D Bonds and the
tights of the owners of the Series 2002D Bonds.
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, but the Series 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity therewith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of the Municipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for redemption prior to maturity.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the names of the owners 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, Recited and Declared that all acts, conditions and things required to exist, happen and be performed
precedent to and in the issuance of the Series 2002D Bonds have existed, have happened and have been performed in due time, form and manner,
as required by law, and that the issuance of this Bond does not exceed or violate any constitutional or statutory limitation or provision.
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, 2001 CrrYOPMVA
By
Mayor
Attest:
EAL
City Clerk
STATE OF IOWA
COUNTY OF STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 384.83(4) of the Code of Iowa.
CITY OF AMES, IOWA
By
City Treasur#
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CITY OF A-WES, IOWA
B,
City Treasurer, Bond gistrar
STATEMENT OF INSURANCE
Financial Guaranty Insurance Policy No, 20032EE (the "Policy') with respect to pwfnrm due for principal of and interest on this Bond has been issued by Ambac Assurance Corporation ("Arnbac
Assurance"), The Policy has been delivered to The Bank of New York, New yok New York, sa the hwustrwe Tntstee under said Policy and will be held by such Insurance Trustee or any successor
insurance trustee, The Policy is on file and available for inspection at the principal office of the Insurance Trustee and a copy thereof may be secured from Arnbac Assurance or the Insurance Trustee. All
payinew required to be trade under the Policy shall be made in accordance with the provisions tberwf. The owner of this Obligation acknowledges and consents to the subrogation rights Of Arnbac
Assurance as rnore fully set forth in the Policy. 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 corarnon UTMA
TEN ENT as tenants by the (Cust)
entireties As Custodian for
IT TEN as joint tenants with right Ninor)
of'survivorship and not as under Uniform Transfers to Minors Act
tenants in common
(State)
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.
Signature guaranteed:
(Signature guarantee must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent Such
standards and procedures may require signatures to be guaranteed by certain
eligible guarantor institutions that participate in a recognized signature
guarantee program)
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 Y)V A COUNTY OF STORY
CITY OF AMES
EL11',, ", F' r', REVENUE REFUNDING BOND
SERIES 2002D
No. 2
$1,740,000
RATE MATURITY 1) N 1 1: BOND DATE CUSIp
2.50% January 1, 2004 October 15,2002 030943 EZ 5
The City of Ames (the "City"), in the Courn,y,,; 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 1,"N HUNDRED FORTY THOUSAND DOLLARS
in lawful money of the United States of America upon m,. sentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa
(hereinafter referred to as the "Bond Registrar" or C,>, '1,,ying 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 r, init .ntercst payment date on which interest has been paid, on January I and July I of each
year, commencing January 1, 2003, except as the pro%qu,,r�., hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable , the registered owner appearing on the bond registration books of the City at the close of
business on the fifteenth day of the month next preco.:nS 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
This Bond shall not be valid or become "I.,ligatory for any purpose until the Certificate of Authentication hereon shall have been
signed by the Bond Registrar.
This Bond is one of a series of Electric Rrver Refunding Bonds, Series 2002D (the "Series 2002D Bonds' ), issued in the aggregate
principal amount of $7,525,000, by the City pursuart v rr. 1 in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof ar I plemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the ;,jacrit of the Series 2002D Bonds (the "Series 2002D Bond Resolution'), and reference is
hereby made to the Series 2002D Bond Resolution f ar. m)re complete statement as to the source of payment of the Series 2002D Bonds and the
rights of the owners of the Series 2002D Bonds.
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, btr v,,e 1aaries 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity ;. -aeNvith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of 0 - '1111v)icipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for tl%ss p,.apose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of tl�e fila� lure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for prior to maturity.
This Bond is fully negotiable but shall b, egistered as to both principal and interest in the names of the owners on the books of
the City in the office of the Bond Registrar, after transfer shall be valid unless made on said books and then only upon presentation of
this Bond to the Bond Registrar, together with either 2 , men instrument of transfer satisfactory to the Bond Registrar, or the assignment form
hereon completed and duly executed by the registered w cr or the duly authorized attorney for such registered owner.
The City, the Bond Registrar and the Pa,)ii�, /%gent may deem and treat the registered owner hereof as the absolute owner for the
purpose of receiving payment of or on account of prim, W 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' affected by any notice to the contrary.
And It Is Hereby Certified, Recited and D,:, bared that all acts, conditions and things required to exist, happen and be performed
precedent to and in the issuance of the Series 2002D bonds have existed, have happened and have been performed in due time, form and manner,
as required by law, and that the issuance of this Bond dm; not exceed or violate any constitutional or statutory limitation or provision.
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.
MWA
By CrIT OP_AWA
Mayor
Attest: A►�f'4
City Clark ...
•
STATE OF IOWA
COUNTY OF'STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 384.83(4) of the Code of Iowa.
CITY OF AMES, IOWA
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CITY OF7ES, IOWA
B
y I Treasurer, Bond �`gTs-tar
k)
STATEMENT OF INSURANCE
Financial Guaranty Insurance Policy No. 20032BE (the "Policy") with respect to payments due for principal of and interest on this Bond has been Wood by Arnbac Assurance Corporation ("Arnbac
Assurune el. The Policy has been delivered to The Bank of New York, New Yak, Now York, as the Insurance Trustee under said Policy and will be held by such Insurance Trustee or any successor
insurance trustee. The Policy is an file and available fi)r inspection at the principal office of the Insurance Trustee and a copy thereoftnay be secured from Arnbac Assonance or the huntranoc Trustee. All
payrnents required to be niside under the Policy shall be trade in accords= with the provisions thereof. The owner of this Obligation acknowledges and consents to the subrogation rights of Artbac
Assurance as room fully set forth in the Policy. 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 cotnrrton UTMA
TEN ENT as tenants by the
entireties
rr TEN as joint tenants with right
of survivorship and not as
tenants in cormbon
As Custodian for
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
(Cost)
(Minor)
(State)
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.
Signature guaranteed:
(Signature guarantee must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent. Such
standards and procedures may require signatures to be guaranteed by certain
eligible guarantor institutions that participate in a recognized signature
guarantee program.)
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
ELECTRIC REVENUE REFUNDING BOND
SERIES 2002D
No. 3
$1,780,000
RATE MATURITY DATE BOND DATE CUSIP
150% January 1, 2005 October 15, 2002 030843 FA 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 SEVEN HUNDRED EIGHTY 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 January I and July I of each
year, commencing January 1, 2003, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable to the registered owner appearing on the bond 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.
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 series of Electric Revenue Refunding Bonds, Series 2002D (the "Series 2002D Bonds"), issued in the aggregate
principal amount of $7,525,000, by the City pursuant to and in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof and supplemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the payment of the Series 2002D Bonds (the "Series 2002D Bond Resolution"), and reference is
hereby made to the Series 2002D Bond Resolution for a more complete statement as to the source of payment of the Series 2002D Bonds and the,
rights of the owners of the Series 2002D Bonds,
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, but the Series 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity therewith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of the Municipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for redemption prior to maturity.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the names of the owners 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, Recited and Declared that all acts, conditions and things required to exist, happen and be Performed
precedent to and in the issuance of the Series 2002D Bonds have existed, have happened and have been performed in due time, form and manner,
as required by law, and that the issuance of this Bond does not exceed or violate any consitutional or statutory limitation or provision.
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.
Crry
By le �F MWA
Mayor
Attest: �t err
..........
City Clerk"`SEAL
4w,"
STATE OF IOWA
COUNTY OF STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 384.83(4) of the Code of Iowa.
CITY OF AMES, IOWA
By
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CITY OF ES, IOWA
By
Cilty Treasurer, Bond fegisuir
STATEMENT OF INSURANCE
Financial Guaranty Insurance Policy No. 20032BE (the "Policy") with respect to payments die for Principal of and interest on this Bond has been issued by Arnbac Assurance Corporation ("Arnbsc
Assurance"), The Policy has been delivered to The Bank of New York, New York, New York, as the Insurance Trustee wider said Policy and will be held by such Insurance Trustee or any successor
insurance trustee. Ile Policy is on file and available for inspection at the principal office of the Insurance Trustee and a copy dwwf may be secured from Arnbac Assurance or the Insurance Trusts. All
payments required to be rnade under the Policy shall be to ade in accordance with the provisions thereof The owner of this Obligation acknowledges and consents to the subrogation rights of Arribac,
Assurance as nicre tally set i1afth in the Policy. 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 conurion UTMA
TEN ENT - as tenants by the (Cult)
entireties As Custodian for
IT TEN - as joint tenants with right
of survivorship and not as
tenants in continion
under Uniform Transfers to Minors Act
Additional abbreviations may also be used though not in the list above.
(Minor)
(S-0
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.
Signature guaranteed:
(Signature guarantee must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent Such
standards and procedures rnay require signatures to be guaranteed by certain
eligible guarantor institutions that participate in a recognized signature
guarantee program)
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
ELECTRIC REVENUE REFUNDING BOND
SERIES 2002D
No. 4
$1,825,000
RATE MATURITY DATE BOND DATE CUSIP
2.50% January 1, 2006 October 15,2002 030943 F13 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
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION EIGHT 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 January I and July I of each
year, commencing January 1, 2003, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable to the registered owner appearing on the bond 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.
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 series of Electric Revenue Refunding Bonds, Series 2002D (the "Series 2002D Bonds"), issued in the aggregate
principal amount of $7,525,000, by the City pursuant to and in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof and supplemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the payment of the Series 2002D Bonds (the "Series 2002D Bond Resolution'), and reference is
hereby made to the Series 2002D Bond Resolution for a more complete statement as to the source of payment of the Series 2002D Bonds and the
rights of the owners of the Series 2002D Bonds.
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, but the Series 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity therewith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of the Municipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for redemption prior to maturity.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the names of the owners 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 duty 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, Recited and Declared that all acts, conditions and things required to exist, happen and be performed
precedent to and in the issuance of the Series 2002D Bonds have existed, have happened and have been performed in due time, form and manner,
as required by law, and that the issuance of this Bond does not exceed or violate any constitutional or statutory limitation or provision.
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.
Crry0F,JWMVA
By
Mayor
Attest:
1'r
City Clark
STATE OF IOWA
COUNTY OF STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 394,83(4) of the Code of Iowa.
CITY OF AMES, IOWA
By
6ty Trft=#
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CITY OF E I W
,7
By =. ,
Ci -Treasurer, Bo Registrar
STATEMENT OF INSURANCE
Financial Guarwry insurance Policy No. 20032BE (the "Policy) with respect to payments dug for principal of and interest on this Bond has been issued by Arnbac Assurance Corporation ("Ambac
Assunince'). The Policy has been delivered to The Bank of New York, Now York, New York, as the Insturmce Trustee under said Policy and will be held by such Insurance Trustee or any successor
insurance trustee. The Policy is on file and available for inspection at the principal office of the Insurance Trustee and a oDpy dmwf nay be secured from Ambac Assurance or the Innumcc Trustee. All
payments required to be made under the Policy shall be made in accordance with the provisions thereof The owner of this Obligation aclanowledges, and consents to the subrogation rights ofAmbac
Assurance as more fully act forth in the Policy. 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 UTMA
TEN ENT as tenants by the (Cast)
entireties As Custodian for
IT TEN as joint tenants with right (Minor)
of survivorship and not as under Uniform Transient: to Minors Act
tenants in conumon
(State)
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.
Signature guaranteed:
(Signal= guarani" must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent. Such
standards and procedturs may require signatures to be guaranteed by certain
eligible guarantor institutions that participate in a recognized signature
guarantee program)
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
ELECTRIC REVENUE REFUNDING BOND
SERIES 2002D
No. 5
$1,860,000
RATE MATURITY DATE BOND DATE CUSIP
2.75% January 1, 2007 October 15, 2002 030943 FC 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
Cede & Co.
or registered assigns, the principal sum of
ONE MILLION EIGHT HUNDRED 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 January I and July I of each
year, commencing January 1, 2003, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable to the registered owner appearing on the bond 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.
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 series of Electric Revenue Refunding Bonds, Series 2002D (the "Series 2002D Bonds"), issued in the aggregate
principal amount of $7,525,000, by the City pursuant to and in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof and supplemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the payment of the Series 2002D Bonds (the "Series 2002D Bond Resolution'), and reference is
hereby made to the Series 2002D Bond Resolution for a more complete statement as to the source of payment of the Series 2002D Bonds and the
rights of the owners of the Series 2002D Bonds.
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, but the Series 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity therewith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of the Municipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for redemption prior to maturity.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the names of the owners 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, Recited and Declared that all acts, conditions and things required to exist, happen and be performed
precedent to and in the issuance of the Series 2002D Bonds have existed, have happened and have been performed in due firrie, form and manner,
as required by law, and that the issuance of this Bond does not exceed or violate any constitutional or statutory limitation or provision.
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,
By
Mayor
Attest:
.AN(
City Clark
STATE OF IOWA
COUNTY OF STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 384.83(4) of the Code of Iowa.
CITY OF AMES, IOWA
By e)l
dty7y...# — -
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CIT`Y�OFES IOWA
I 4�
MB
Ora
STATEMENT OF INSURANCE
Financial Guaranty Insurance Policy No. 20032BE (the "Policy') with respect to payments due for principal of and interest on this Bond has been issued by Ambac Assurance Corporation ("Ambac
Assurmce"). The Policy has been delivered to The Hank of Now York, Now York, New York, as the Insurance Trustee under said Policy and will be hold by such Insurance Trustee or any successor
insurance testa. The Policy is on file and available for inspection at the principal offkc of the Insurance Trustee and a copy thereof may be secured from Amber, Assurance or the Insurance Trustee All
payments required to be made under the Policy shall be made in accordance with the provisions thereof The owner of this Obligation acknowledges and consents to the suhrogation rights of Ambac
Assurance as more fully as forth in the Policy, 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 cormnon UTMA
TEN ENT as tenants by the (Cost)
entireties As Custodian for
IT TEN as joint tenants with right (Minor)
of survivorship and not as under Uniform Trarisfers to Minors Act
tenants in common
(State)
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 OTTIER
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.
Signature guaranteed:
(Signature guarantee must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent. Such
standards and procedures may require signatures to be guaranteed by certain
eligible guarantor institutions that participate in a recognized signature
guarantee program)
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
ELECTRIC REVENUE REFUNDING BOND
SERIES 2002D
No. 6 $100,000
RATE MATURITY DATE BOND DATE CUSIP
3.00% January 1, 2008 October 15, 2002 030943 Fl) 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
or registered assigns, the principal sum of
Cede & Co.
ONE 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 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 January I and July I of each
year, commencing January 1, 2003, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be and become
applicable hereto. Interest on this Bond is payable to the registered owner appearing on the bond 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.
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 series of Electric Revenue Refunding Bonds, Series 2002D (the "Series 2002D Bonds'" , issued in the aggregate
principal amount of $7,525,000, by the City pursuant to and in strict compliance with the provisions of Division V of Chapter 384 of the Code of
Iowa, 2001, and all other laws amendatory thereof and supplemental thereto, and in conformity with a resolution of the City Council of the City
providing for the sale and issuance and securing the payment of the Series 2002D Bonds (the "Series 2002D Bond Resolution'"), and reference is
hereby made to the Series 2002D Bond Resolution for a more complete statement as to the source of payment of the Series 2002D Bonds and the
rights of the owners of the Series 2002D Bonds.
The Series 2002D Bonds are issued for the purpose of refunding the City's $9,985,000 Electric Revenue Refunding Bonds, Series
1993, and are not general obligations of the City, but the Series 2002D Bonds, together with any additional bonds as may be hereafter issued and
outstanding from time to time ranking on a parity therewith under the conditions set forth in the Series 2002D Bond Resolution, are payable
solely and only out of the future Net Revenues of the Municipal Electric Light and Power Plant and System of the City, a sufficient portion of
which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no circumstances
shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment of this Bond and the
interest hereon.
None of the Bonds will be optional for redemption prior to maturity.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the names of the owners 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 duty 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, Recited and Declared that all acts, conditions and things required to exist, happen and be performed
precedent to and in the issuance of the Series 2002D Bonds have existed, have happened and have been performed in due time, form and manner,
as required by law, and that the issuance of this Bond does not exceed or violate any constitutional or statutory limitation or provision.
IN TESTIMONY WHEREOF, the City of Arm, Iowa, by its City Council, has caused this Bond to be seated with the facsitnile 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.
CrrYOF6WAMVA-.,-'
By 1t.
May -
Attest:
CA9�'J) 7. VA -dal
City Clark 4 S.E ....
STATE OF IOWA
COUNTY OF STORY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Series 2002D Bonds of which this Bond is a part was duly and properly recorded in my office as of
October 15, 2002, pursuant to Section 394.83(4) of the Code of Iowa.
CITY OF AMES, IOWA
By, 4��, .
City
Registration Date: October 15, 2002 BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Series 2002D Bonds described in the within -mentioned Series 2002D Bond Resolution.
CITY OF MES, IOWA
By . . . .... .... . .
6't;7T—reasurer, Bonregistrar
STATEMENT OF INSURANCE
Financial Guaranty Insurance Policy No. 20032BE (the "Policy') with respect to payinam due for principal of and interest on this Bond has been issued by Ambac Assurance Corporition ("Arnbac
Assurance"). The Policy has been delivered to The Bank of'New York, New York, New York, as the Insurance Trustee under said Policy and will be held by such Inswitnoe Trustee or any muccessor
insurance trustee The Policy is on file and avidlable for inspection in the principal office of the Insurance Trwace and a copy thereof may be secured from Arnbec Assurance or the Imunwo: Trustee. All
payments required to be nude wider the Policy shall be trade in accordance with the provisions thereof. The owner of this Obligation acknowledges and consents to the subrogation rights of Arnbac
Assurance as mrc fully m bath in the Policy. 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 UTMA
TEN ENT as tenants by the (Cust)
entireties As Custodian for
Tr TEN as joint tenants with right (Minor)
of survivorship and not as under Uniform Transfers to Minors Act
tenants in cormmn
(State)
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 natne 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.
Signature guaranteed:
(Signature guarantee must be provided in accordance with the prevailing
standards and procedures of the Registrar and Transfer Agent Such
standards and procedures may require signatures to be guaranteed by "min
eligible guarantor institutions that participate in a re -cognized signature
guarantee program)
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.
k N'df�
819864746381
room
I.D. No, 0215
2
Senders FedEx
Clate Account NUmbef 1055-0589-2
Sender's I� C1 Phone
Name VOSS,
C,,,P,,,YCITY OF AMES/FINANCE
Address 515 CLARK AVE
I A ZIP 50010
Recipient's —1000 Name Phone Z3
r-S C, q [0 h fi--v�c
lhh- , PO r.— ,, PO ZIP code,
Stale
C' Moo
ml
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and in — current Service Guide. including terms that limit our liability.
4a Exparessloackair S ' up to 150 lbs,
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