HomeMy WebLinkAboutA011 - Proceedings from June 22, 2003 meetingI
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June 23, 2003
Dorsey & Whitney LLP
801 Grand, Suite 3900
Des Moines, Iowa 50309
Attention Robert E. Josten
City Clerk's Office
5 t 5 Clark Avenue, P. 0. Box 811
Ames, IA 50010
Phone: 515-239-5105
Fax: 515-239-5142
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RE: Agnes, Iowa
$5,130,000 General Obligation Corporate Purpose Bonds, Series 2003
Your File No. 419370-29
Dear Mr. Josten:
Enclosed please find the proceedings from our June 22, 2003, meeting wherein the Council held
the hearing on the above -mentioned Bonds and passed Resolution No. 03-299 approving issuance
of same.
I understand that you will be forwarding to me the Notice of Sale for publication in the very near
future.
If you have any questions, please call. Thank you for your assistance.
Sincerely,
Diane R. Voss
City Clerk
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Enclosure
'# I ATnes/41'9370-29/21d V� Bond Hrg & Auth Sale
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DORSEY & WHITNEY
ATTORNEYS AT LNvq
601 Grand, Sulta"27" �
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MINUTES TO CONDUCT HEARING ON
AND AUTHORIZE THE SALE OF
GENERAL OBLIGATION CORPORATE
PURPOSE BONDS
419370-29 (2 nd V,, GO Bond Hrg/Auth Sale)
Ames, Iowa
July 22, 2003
The City Council of the City of Ames, Iowa, met on July 22, 2003, at 7:00 o'clock p.m.,
at the Council Chambers, City Hall, Ames, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following members of the Council present and absent:
Present: Cross, Goodhue, Hoffman, Mahayni
Absent: e22e. wirth
The City Council investigated and found that a notice of intention to institute proceedings
for the issuance of not to exceed $5,130,000 General Obligation Corporate Purpose Bonds had
been duly published as provided by law and that this is the time and place at which the City
Council shall receive oral or written objections from any resident or property owner of the City.
The City Clerk announced that no written objections had been previously filed; the Mayor called
for any oral or written objections from any resident or property owner of the City and were none.
After due consideration and discussion, Council Member Goodhue
introduced the following resolution and moved its adoption, seconded by Council Member
Mahayni The Mayor put the question upon the adoption of said resolution,
and the roll being called, the following Council Members voted:
Ayes: Cross, Goodhue, Hoffman, Mahayni
Nays:
Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
kmes/41� 370-29/2 Id '/2 Bond Hrg & Autb Sale
At the conclusion of the meeting, and upon motion and vote, the City Council adjourned.
Mayor
Attest:
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Xmes/41,5370-29/2'd 1/� Bond Hrg & Auth Sale
Resolution taking additional action for the issuance and authorizing the sale of
General Obligation Corporate Purpose Bonds, Series 2003
WHEREAS, on June 26, 2001, the City of Ames, in the County of Story, State of Iowa
(hereinafter referred to as the "City"), held a special City election to vote on the question of
issuing general obligation corporate purpose bonds in a principal amount not exceeding
$4,970,000 (the "Authorized Issue"), to provide funds to pay costs of the acquisition,
construction, improvement and equipping of parks and recreation grounds and the developing of
a watershed protection area necessary and useful for the health and welfare of its citizens,
including the acquisition of real estate therefor, on and adjacent to the area known as "Halletts
Quarry", at which election the proposition was adopted by a vote in favor equal to at least 60%
of the total votes cast for and against the proposition; and
WHEREAS, under date of May 1, 2002, the City issued $3,475,000 General Obligation
Corporate Purpose Bonds, Series 2002A, of the Authorized Issue, and the City deems it
necessary and advisable at this time to issue an additional $1,425,000 of the Authorized Issue to
pay costs of the purposes aforesaid; and
WHEREAS, pursuant to the provisions of Division III of Chapter 384 of the Code of
Iowa, the City has heretofore proposed the issuance of not to exceed $5,130,000 General
Obligation Corporate Purpose Bonds (the "Essential Corporate Purpose Bonds") for the purpose
of paying the cost, to that extent, of constructing various street and storm sewer improvements,
and has published notice of the proposed action and has held a hearing thereon; and
WHEREAS, pursuant to Section 384.28 of the Code of Iowa, the City may combine any
number or combination of essential and general corporate purposes and sell a single issue of
bonds; and
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The City Council hereby determines to combine the Essential Corporate
Purpose Bonds and an additional $1,425,000 of the Authorized Issue into a single issue of
General Obligation Corporate Purpose Bonds, Series 2003 (hereinafter referred to as the
"Bonds") in an aggregate principal amount not to exceed $6,555,000.
Section 2. The 12th day of August, 2003, at seven o'clock p m., at the
Council Chambers, City Hall, Ames, Iowa, is hereby fixed as the time and place for receiving
and canvassing bids for the purchase of the Bonds, and the City Council shall meet on said date
at 7:00 o'clock p.m., at the Council Chambers, City Hall, Ames, Iowa, for the purpose of
considering bids received and passing a resolution providing for the sale and issuance of the
Bonds.
Section 3. The City Manager and Finance Director are hereby directed to proceed on
behalf of the City, with the assistance of Dorsey & Whitney LLP, Attorneys ("Bond Counsel"),
and Public Financial Management (the "Financial Consultants"), to advertise the Bonds for sale
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
' 'Anies/419370-29/2d V2 Bond Hrg & Auth Sale
in an aggregate principal amount not to exceed $6,555,000; to participate in the preparation of a
notice of sale of the Bonds to be prepared by the Bond Counsel for publication by the City Clerk
in a legal newspaper located in Story County, Iowa, not less than 4 and not more than 20 days
prior to the sale; and to participate in the preparation of a statement of information and
solicitation of bids to be distributed on behalf of the City by the Financial Consultants describing
the Bonds and providing for the terms and conditions of their sale.
Section 4. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved July 22, 2003.
Attest:
City Clerk
Mayor
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
Arnes/410370-29/20' % l3ond Hrg & Auth Sale
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
1, the undersigned, City Clerk of the aforementioned City, do hereby certify that attached
hereto is a true and correct copy of the proceedings of the City Council relating to the City's
determination to proceed with the issuance and authorizing the sale of General Obligation
Corporate Purpose Bonds, Series 2003.
WITNESS MY HAND and the seal of the City hereto affixed this 22nd day of
July 2003.
(Seal)
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA