HomeMy WebLinkAboutA002 - Email from Dorsey & Whitney dated June 28, 2005 - schedule correction "Tionna POOLER" To <Josten.Robert@dorsey.com>
<poolert@pfm.com>
cc <DPitcher@city.ames.ia.us>
06/28/05 07:14 AM bcc
Subject Re: Confirming dates for action on Ames bond issue
That is right, I think I blindly adhered to the legal parameters for the dates--thanks for catching
me. I will correct that and circulate a new schedule if I get a break from my meetings today, or
tomorrow when I am back in Des Moines.
»> "Josten, Robert" <Josten.Robert@dorsey.com> 06/27/05 10:51 AM >>>
I have been looking over the schedule you sent recently for the Ames issue, and I want to be certain I
f understand one of the entries. You show a Council meeting to be held July 26 at which action would be
taken to set August 9 as the date for hearing, but the entry on the schedule ahead of that shows the
possibility of publishing the notice of that hearing as early as July 19. 1 assume, with my conversation
with Duane that confirmed all activity qualifies for the essential corporate purpose designation, the notice
tom. of the August 9 hearing will not be published until AFTER the July 26 Council meeting date.
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2600 Grand Avenue 515-243-2600
Suite 214 515-243-6994 fax
Amww'7-- Des Moines,1A www.pfm.com
Pl"M 50312
The PFM Group
DRAFT TIME SCHEDULE
CITY OF AMES, IOWA
General Obligation Corporate Purpose Bonds, Series 2005A
Jun-05 Jul-05 Aug-05 Sep-05
S M T W T F S S M T W T F S .S M T W T F S S M T W T F S
1 2 3 4 1 2 1 2 3 4 5 6 1 2 3
5 6 7 8 9 ID 11 3 4 5 6 7 8 9 7 8 9 10 11 12 13 4 5 6 7 8 9 10
12 13 14 15 16 17 18 10 11 2 13 14 15 16 14 15 16 17 18 19 20 11 12 13 14 15 16 17
19 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 27 18 19 20 21 22 23 24
26 27 28 29 30 24 25 26 27 28 29 30 28 29 30 31 25 26 27 28 29 30
1 1 1 31 1 1 11 1
Task Description
June -August Document Preparation - Prepare sale details FA
0 Prepare official Statement
* Prepare bond resolution BC
0 Review draft documents C, BC, FA
July 19-August 4 ublic lHearing 0 Notice_Dublfthed Aq earlier-tkpn July C
-
o
c 1 �,"ot ter Auqust 4
July 26 L'ky.D Council Meeting * Set Public Hearing for August 9 C, BC
July 27 (AM) Internal 05 Review 0 Near final 05 for review prior to
distribution to City and Counsel
August 9 Council Meeting 0 Hold Public Hearing, Set Sale date for C
August 23
August 9 (noon) 05 Review 0 Distribute near final 05 to City and FA
Council for Review
August 10-12 Rating Presentation 0 Targeted time frame for presentation, C, FA
TBD
August 12 Official Statement 0 Distribute 05 for printing FA
Aug 17-22 Market Bonds * Call Potential bidders (near sale date) FA
9 Monitor market conditions FA
Aug 17-19 Ratings released 0 Rating report released RA
The PFM Group
PLIblic"inincial?,anagement!•_a
rP M Asset Management LLC
PFN4 F dvisois
Date Task Description Responsibility
August 23, 2005 Bond Sale 11:00 AM • Take bids and check for accuracy FA
• Prepare sale analysis FA
• Complete resolution FA,BC
Aug 23, 2005 Council Meeting • Council awards sole C,BC
• Council Adopts final resolution
Aug 24- Sep 12 Closing Preparations • Prepare closing documents BC
• Confirm closing date and funds transfer FA
• Closing letter to all parties FA
Sep 13 Closing 0 Purchaser pays for the Bonds C, BC, FA
Financing Team Members:
C = City of Ames
BC = Dorsey & Whitney (bond counsel)
FA = Public Financial Management, Inc. (financial advisor)
RA = Moody's Investors Service (rating agency)