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HomeMy WebLinkAboutA013 - Proceedings from September 26, 2006 meetinghCaring People Iq Quality Programs Exceptional Service September 27, 2006 Dorsey & Whitney LLP 801 Grand, Suite 3900 Des Moines, Iowa 50309 Attention Robert E. Josten ffice 515 Clark Avenue, P. 0. Box 811 Agnes, 1A 50010 11horie: 515-239-5105 Fax: 5 15-239-5 142 RE: Ames, Iowa $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A Your File No. 419370-34 Dear Bob: Enclosed please find the proceedings from 0111- September 26, 2006, meeting wherein the Council adopted Resolution No. 06-399 providing for the sale and issuance of the above -referenced Bonds. Two executed copies of the Continuing Disclosure Certificate are also enclosed. I have certified the Resolution to the County Auditor and will forward the Certificate verifying the filing of same as soon as possible. Thank you for your assistance. Sincerely, Diane R. Voss City Clerk /di-v Enclosures Ames/419370-34/2 Id 1/� G13 I Please Return Tb, DORSEY & WHIT!71Y 419370-34 MINUTES OF MEETING PROVIDING FOR THE ISSUANCE OF $5,285,000 GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2006A Ames, Iowa September 26, 2006 The City Council of the City of Ames, Iowa, met on September 26, 2006, 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 being called, the following named Council Members were present and absent: Present: Doll, Goodman, Hamilton, Mahayni, Popken, Rice Absent: None Council Member Mahayni - introduced the resolution hereinafter next set out and moved that the resolution be adopted, seconded by Council Member Popken 7. After due consideration, the Mayor put the question on the motion and the roll being called, the following named Council Members voted: Ayes: Doll, Goodman, Hamilton, Mahayni, Popken, Rice Nays: None Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MINES, IOWA Ames/419370-34/2'd 1/. GBI At the conclusion of the meeting and, upon motion and vote, the City Council adjourned. Attest: City Clerk -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Anies/419370-34/2'd 1/2 GBI RESOLUTION NO. 06-3 9 Resolution providing for the issuance of $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A, and providing for the levy of taxes to pay the same WHEREAS, pursuant to the provisions of Chapter 384 of the Code of Iowa, notice duly published and hearing held thereon, the City of Ames, in the County of Story, State of Iowa (hereinafter referred to as the "City") has heretofore determined to issue General Obligation Corporate Purpose Bonds, Series 2006A, in the principal amount of $5,285,000 (the "Series 2006A Bonds"), for the purpose of paying the cost, to that extent, of constructing various street and storm sewer improvements; and WHEREAS, pursuant to advertisement for sale, bids for the purchase of the Series 2006A Bonds were received and canvassed on behalf of the City at the time and place fixed therefor in the published Notice of Sale and, upon final consideration of all bids received, the Series 2006A Bonds were awarded to NatCity Investments, Inc., Cleveland, Ohio (the "Purchaser"); and WHEREAS, it is deemed advisable and necessary at this time to make provision for the issuance of the Series 2006A Bonds and for the levy of taxes to pay the same; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, as follows: Section 1. Pursuant to Division III of Chapter 384 of the Code of Iowa, the Series 2006A Bonds are hereby authorized to be issued in the aggregate principal amount of $5,285,000, shall be dated October 1, 2006, in the denomination of $5,000 each, or any integral multiple thereof, shall mature on June I in each of the years, in the respective principal amounts and shall bear interest at the respective rates, as follows: Principal Interest Rate Principal Interest Rate Year Amount Per Annum, Year Amount Per Annurn 2007 $275,000 4.00% 2013 $450,000 4.00% 2008 $365,000 4.00% 2014 $470,000 4.00% 2009 $380,000 4.00% 2015 $490,000 4.00% 2010 $400,000 4.00% 2016 $515,000 4.00% 2011 $415,000 4.00% 2017 $535,000 4.00% 2012 $430,000 4.00% 2018 $560,000 4.00% The City Treasurer is hereby designated as the Bond Registrar and Paying Agent for the Series 2006A Bonds and may be hereinafter referred to as the "Bond Registrar" or the "Paying Agent". -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MINES, IOWA Ames/419370-34/2"' 1/2 GBI The City reserves the right to call and redeem part or all of the Series 2006A Bonds maturing in each of the years 2015 to 2018, inclusive, prior to and in any order of maturity on June 1, 2014, or on any date thereafter upon terms of par and accrued interest. If less than all of the Series 2006A Bonds of any like maturity are to be redeemed, the particular part of those Bonds to be redeemed shall be selected by lot. The Series 2006A Bonds may be called in part in one or more units of $5,000, If less than the entire principal amount of any Series 2006A Bond in a denomination of more than $5,000 is to be redeemed, the Series 2006A Bond Registrar will issue and deliver to the registered owner thereof, upon surrender of the original Series 2006A Bond, a new Series 2006A Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Series 2006A Bond. Notice of such redemption as aforesaid identifying the Series 2006A Bond or Bonds (or portion thereof) to be redeemed shall be mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 nor more than 60 days prior to such redemption date. All of the Series 2006A Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided, shall cease to bear interest on the redemption date. All of the interest on the Series 2006A Bonds shall be payable semiannually on the first day of June and December in each year, commencing June 1, 2007. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. Payment of interest on the Series 2006A Bonds shall be made to the registered owners 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 owners at the addresses shown on such registration books. Principal of the Series 2006A Bonds shall be payable in lawful money of the United States of America to the registered owners or their legal representatives upon presentation and surrender of the Series 2006A Bond or Bonds at the office of the Paying Agent. The City hereby pledges the faith, credit, revenues and resources and all of the real and personal property of the City for the full and prompt payment of the principal of and interest on the Series 2006A Bonds. The Series 2006A Bonds shall be executed on behalf of the City with the official manual or facsimile signature of the Mayor and attested with the official manual or facsimile signature of the City Clerk and shall have the City's seal impressed or printed thereon, and shall be fully registered Bonds without interest coupons. In case any officer whose signature or the facsimile of whose signature appears on the Series 2006A Bonds shall cease to be such officer before the delivery of the Series 2006A Bonds, such signature or such facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. The Series 2006A Bonds shall be fully registered as to principal and interest in the names of the owners on the registration books of the City kept by the Bond Registrar, and after such registration payment of the principal thereof and interest thereon shall be made to the registered owners, their legal representatives or assigns. Each Series 2006A Bond shall be transferable only upon the registration books of the City upon presentation to the Bond Registrar, together -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2" 1/� GBI With either a written instrument of transfer satisfactory to the Bond Registrar or the assignment form thereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The record and identity of the owners of the Series 2006A Bonds shall be kept confidential as provided by Section 22.7 of the Code of Iowa, The Series 2006A Bonds shall not be valid or become obligatory for any purpose until the Certificate of Authentication thereon shall have been signed by the Bond Registrar. Section 2. Notwithstanding anything above to the contrary, the Series 2006A Bonds shall be issued initially as Depository Bonds, with one fully registered Bond for each maturity date, in principal amounts equal to the amount of principal maturing on each such date, and registered in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York ("DTC"). On original issue, the Series 2006A Bonds shall be deposited with DTC for the purpose of maintaining a book -entry system for recording the ownership interests of its participants and the transfer of those interests among its participants (the "Participants"). In the event that DTC determines not to continue to act as securities depository for the Series 2006A Bonds or the City determines not to continue the book -entry system for recording ownership interests in the Series 2006A Bonds with DTC, the City will discontinue the book -entry system with DTC. If the City does not select another qualified securities depository to replace DTC (or a successor depository) in order to continue a book -entry system, the City will register and deliver replacement bonds in the form of fully registered certificates, in authorized denominations of $5,000 or integral multiples of $5,000, in accordance with instructions from Cede & Co., as nominee for DTC. In the event that the City identifies a qualified securities depository to replace DTC, the City will register and deliver replacement bonds, fully registered in the name of such depository, or its nominee, in the denominations as set forth above, as reduced from time to time prior to maturity in connection with redemptions or retirements by call or payment, and in such event, such depository will then maintain the book -entry system for recording ownership interests in the Series 2006A Bonds. Ownership interest in the Series 2006A Bonds may be purchased by or through Participants. Such Participants and the persons for whom they acquire interests in the Series 2006A Bonds as nominees will not receive certificated Bonds, but each such Participant will receive a credit balance in the records of DTC in the amount of such Participant's interest in the Series 2006A Bonds, which will be confirmed in accordance with DTC's standard procedures. Each such person for which a Participant has an interest in the Series 2006A Bonds, as nominee, may desire to make arrangements with such Participant to have all notices of redemption or other communications of the City to DTC, which may affect such person, forwarded in writing by such Participant and to have notification made of all interest payments. The City will have no responsibility or obligation to such Participants or the persons for whom they act as nominees with respect to payment to or providing of notice for such Participants or the persons for whom they act as nominees. As used herein, the term "Beneficial Owner" shall hereinafter be deemed to include the person for whom the Participant acquires an interest in the Series 2006A Bonds. -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2 Id 1/2 GB I DTC will receive payments from the City, to be remitted by DTC to the Participants for subsequent disbursement to the Beneficial Owners. The ownership interest of each Beneficial Owner in the Series 2006A Bonds will be recorded on the records of the Participants whose ownership interest will be recorded on a computerized book -entry system kept by DTC. When reference is made to any action which is required or permitted to be taken by the Beneficial Owners, such reference shall only relate to those permitted to act (by statute, regulation or otherwise) on behalf of such Beneficial Owners for such purposes. When notices are given, they shall be sent by the City to DTC, and DTC shall forward (or cause to be forwarded) the notices to the Participants so that the Participants can forward the same to the Beneficial Owners. Beneficial Owners will receive written confirmations of their purchases from the Participants acting on behalf of the Beneficial Owners detailing the terms of the Series 2006A Bonds acquired. Transfers of ownership interests in the Series 2006A Bonds will be accomplished by book entries made by DTC and the Participants who act on behalf of the Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interest in the Series 2006A Bonds, except as specifically provided herein. Interest and principal will be paid when due by the City to DTC, then paid by DTC to the Participants and thereafter paid by the Participants to the Beneficial Owners. Section 3. The form of Series 2006A Bonds shall be substantially as follows: -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ai-nes/419370-34/20' '/� GBI mill (Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A October 1, 2006 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 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 1 and December I of each year, commencing June 1, 2007, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. 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. -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2 Id '/� G13 I This Bond is one of a duly authorized series of General Obligation Corporate Purpose Bonds, Series 2006A (the "Series 2006A Bonds"), issued in the aggregate principal amount of $5,285,000 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, 2005, 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 constructing various street and storm sewer improvements. The City reserves the right to call and redeem part or all of the Series 2006A Bonds maturing in each of the years 2015 to 2018, inclusive, prior to and in any order of maturity on June 1, 2014, or on any date thereafter upon terms of par and accrued interest. If less than all of the Series 2006A Bonds of any like maturity are to be redeemed, the particular part of those Bonds to be redeemed shall be selected by lot. The Series 2006A Bonds may be called in part in one or more units of $5,000. If less than the entire principal amount of any Series 2006A Bond in a denomination of more than $5,000 is to be redeemed, the Bond Registrar will issue and deliver to the registered owner thereof, upon surrender of the original Series 2006A Bond, a new Series 2006A Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Series 2006A Bond. Notice of such redemption as aforesaid identifying the Series 2006A Bond or Bonds (or portion thereof) to be redeemed shall be mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 nor more than 60 days prior to such redemption date. All of the Series 2006A Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided, shall cease to bear interest on the redemption date. 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. -8- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Anies/419370-34/2'd % GBI 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 1, 2006. CITY OF AMES, IOWA By (DO NOT SIGN Mayor Attest: (DO NOT SIGN) City Clerk (Facsimile Seal) (On each Series 2006A Bond there shall be a registration dateline and a Certificate of Authentication of the Bond Registrar in the following form:) Registration Date: (Registration Date) BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Series 2006A Bonds described in the within -mentioned resolution. (DO NOT SIGN) City Treasurer, Ames, Iowa F.M.31 111"Jaw-m-relm 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 (Cust) As Custodian for (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. -9- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Anies/419370-34/2'd '/,� GBI 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: (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. -10- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2 Id 1/2 GBI Section 4, The Series 2006A Bonds shall be executed as herein provided as soon after the adoption of this resolution as may be possible and thereupon they shall be delivered to the Bond Registrar for registration, authentication and delivery to the Purchaser, upon receipt of the purchase price thereof, with accrued interest thereon, and all action heretofore taken in connection with the sale and issuance of the Series 2006A Bonds is hereby ratified and confirmed in all respects. Section 5. As required by Chapter 76 of the Code of Iowa, and for the purpose of providing for the levy and collection of a direct annual tax sufficient to pay the interest on the Series 2006A Bonds as it falls due, and also to pay and discharge the principal thereof at maturity, there is hereby ordered levied on all the taxable property in the City in each of the years while the Series 2006A Bonds or any of them are outstanding, a tax sufficient for that purpose, and in furtherance of this provision, but not in limitation thereof, there be and there is hereby levied on all the taxable property in the City the following direct annual tax for collection in each of the following fiscal years (provision having been previously made, and funds being on hand, to pay the interest and principal coming due in the fiscal year which began July 1, 2006), to -wit: For collection in the fiscal year beginning July 1, 2007, sufficient to produce the net annual sum of $565,400; For collection in the fiscal year beginning July 1, 2008, sufficient to produce the net annual sum of $565,800; For collection in the fiscal year beginning July 1, 2009, sufficient to produce the net annual sum of $570,600; For collection in the fiscal year beginning July 1, 2010, sufficient to produce the net annual sum of $569,600; For collection in the fiscal year beginning July 1, 2011, sufficient to produce the net annual sum of $568,000; For collection in the fiscal year beginning July 1, 2012, sufficient to produce the net annual sum of $570,800; For collection in the fiscal year beginning July 1, 2013, sufficient to produce the net annual sum of $572,800; For collection in the fiscal year beginning July 1, 2014, sufficient to produce the net annual sum of $574,000; For collection in the fiscal year beginning July 1, 2015, sufficient to produce the net annual sum of $579,400; For collection in the fiscal year beginning July 1, 2016, sufficient to produce the net annual sum of $578,800; _11- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2"d % GBI For collection in the fiscal year beginning July 1, 2017, sufficient to produce the net annual sum of $582,400. Section 6. A certified copy of this resolution shall be filed with the County Auditor of Story County, and the County Auditor is hereby instructed to enter for collection and assess the tax hereby authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the City and when collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Series 2006A Bonds hereby authorized and for no other purpose whatsoever. Any amount received by the City as accrued interest on the Series 2006A Bonds shall be deposited into such special account and used to pay interest due on the Series 2006A Bonds on the first interest payment date. Section 7. The interest or principal and both of them falling due in any year or years shall, if necessary, be paid promptly from current funds on hand in advance of taxes levied and when the taxes shall have been collected, reimbursement shall be made to such current funds in the sum thus advanced. Section 8. It is the intention of the City that interest on the Series 2006A Bonds be and remain excluded from gross income for federal income tax purposes pursuant to the appropriate provisions of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations in effect with respect thereto (all of the foregoing herein referred to as the "Internal Revenue Code"). In furtherance thereof, the City covenants to comply with the provisions of the Internal Revenue Code as they may from time to time be in effect or amended and further covenants to comply with the applicable future laws, regulations, published rulings and court decisions as may be necessary to insure that the interest on the Series 2006A Bonds will remain excluded from gross income for federal income tax purposes. Any and all of the officers , of the City are hereby authorized and directed to take any and all actions as may be necessary to comply with the covenants herein contained. The City hereby designates the Series 2006A Bonds as "Qualified Tax Exempt Obligations" as that term is used in Section 265(b)(3)(B) of the Internal Revenue Code. Section 9. Continuing Disclosure. The Securities and Exchange Commission (the "SEC") has promulgated certain amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 (17 C.F.R. § 240.15c2-12) (the "Rule") that make it unlawful for an underwriter to participate in the primary offering of municipal securities in a principal amount of $1,000,000 or more unless, before submitting a bid or entering into a purchase contract for such securities, it has reasonably determined that the issuer or an obligated person has undertaken in writing for the benefit of the holders of such securities to provide certain disclosure information to prescribed information repositories on a continuing basis so long as such securities are outstanding. On the date of issuance and delivery of the Series 2006A Bonds, the City will execute and deliver a Continuing Disclosure Certificate pursuant to which the City will undertake to comply with the Rule. The City covenants and agrees that it will comply with and carry out the provisions of the Continuing Disclosure Certificate. Any and all of the officers of the City are -12- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Anies/419370-34/2"d '/� GBI hereby authorized and directed to take any and all actions as may be necessary to comply with the Rule and the Continuing Disclosure Agreement. Section 10. All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved September 26, 2006. Attest: City Clerk A 4"4.0 Mayor -13- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/419370-34/2 "d 1/� GBI 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 of the City relating to the adoption of a resolution entitled, "Resolution providing for the sale and issuance of $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A, and providing for the levy of taxes to pay the same," and that the transcript hereto attached contains a true, correct and complete statement of all the measures adopted and proceedings, acts and things had, done and performed up to the present time in relation to the sale, issuance and disposition of the Series 2006A Bonds. I further certify that no appeal has been taken to the District Court from the decision of the City Council to issue the Series 2006A Bonds or to levy taxes to pay the principal thereof and interest thereon. WITNESS MY HAND and the seal of the City hereto affixed this 26th day of September 2006. (Seal) C�R� City Clerk -14- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Caring People Quality Prograr 14 as Exceptional Service September 27, 2006 STATE OF IOWA COUNTY OF STORY CITY OF AMES 515 Clark Avenue, 1". 0. Box 811 Ames, IA 50010 Plione: 515-239-5105 Fax: 515-239-5142 1, Diane R. Voss, being the duly appointed City Clerk of the City of Ames, Iowa, do hereby certify that the above and foregoing Resolution No. 06-399 is a true and accurate copy of the said Resolution, and that the said Resolution was passed and adopted by the City Council of the City of Ames, Iowa, at a duly called meeting thereof on the 26th day of September, 2006. Diane R. Voss, City Clerk (SEAL)