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HomeMy WebLinkAboutA017 - Bonds one to twelve - 1 to 12Caring People I Q-1kV P-g— Ex eptioaal Service October 4, 2006 Mr. Robert Buck The Depository Trust Company Interface/Underwriting Department ISL 55 Water Street New York, New York 10041 515 Clark Avenue, 1. 0. Box 811 Ames, 1A 50010 Phone: 515-239-5105 Fax: 515-239-5142 RE: City of Ames, Iowa $5,285,000 General Obligation Corporate Purpose, Series 2006A Your File No. 419370-34 Dear Mr. Buck: Enclosed are the executed Bonds, numbered frorn one to twelve (12), inclusive, which should be held in escrow pending release on October 10, 2006, by our Bond Counsel, Robert E. Josten, Dorsey & Whitney LLP, Des Moines, Iowa [telephone (515) 283-1000]. In the meantime, if you have any questions or if there is anything else you need, please contact our Bond Counsel. Sincerely, Roger J. Wisecup, 11 AITICS City Treasurer /dry Enclosures Copy to: Robert E. Josten t-a J a) a) LE X put a Q, E 21 In us Rr x m 21 HETAUN THIM COPY FOR YOUR RECORM cc Vp 41, I -Ell Pk aj LL' Lrr C.L CC cu D > r- LU N LA.1 CL 'I'll CL t "IF 15 L, J c i w 0 � 0 W�M� ow I IT F-411 - P W CO 3J cy.:, cp au, ra sl ... ... . ... .. . . .. . .. .. . ....... iv 00 v"T ix Ul rp KZ, UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 1 $275,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2007 October 1, 2006 030807 77 1 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 TWO HUNDRED SEVENTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum, specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 2 $365,000 RATE MATURITY DATE BOND DATE, CUSIP 4.00% June 1, 2008 October 1, 2006 030807 ZU8 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 THREE HUNDRED SIXTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annurn specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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. UNITE"D STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AME -,S GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 3 $380,000 RATE MATURITY DATE BOND DATE CUSIP 4.00'Yo June 1, 2009 October 1, 2006 030807 CV 6 The City of Allies (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 THREE HUNDRED EIGHTY TIIO1JSAND DOLLARS in lawful money of" the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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 tile basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Bond Registrar. This Bond is one of a duly authorized series of 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 4 $400,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2010 October 1, 2006 030807 ZW 4 The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this Bond to or registered assigns, the principal sum of Cede & Co. FOUR HUNDRED THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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 I 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 property existent, had, done and performed in regular and due form and time; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due; that the faith, credit revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof, both principal and interest; and that the total indebtedness of the City, including this Bond, does not exceed any constitutional or statutory limitations. t,JNITED STATFS OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GFNERAL OBLIGNTION ORPORATE PURPOSE BONI), SERIES 2006A No. 5 $415,000 RATE MATURITY DATE BOND DATE CUSIP 4.000/o June 1, 2011 October 1, 2006 030807 ZX 2 The City of Ames (the "City"), in the County of'Story, State of" Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. or registered assigns, the principal sum of FOUR HUNDRED FIFTEENTHOUSAND DOLLARS in lawful money of the I.Jruted States of America upon presentation on and Surrender of this Bond at the office ofthe 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 annurn specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 6 $430,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2012 October 1, 2006 030807 ZY 0 The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. or registered assigns, the principal sum of FOUR HUNDRED THIRTY 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 annurn specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December 1 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. 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 7 $450,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2013 October 1, 2006 030807 ZZ 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 FOUR HUNDRED FIFTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said suns, until paid, at the rate per annum specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 8 $470,000 RATE MATURITY DATE BOND DATE CUSIP 4,00% June 1, 2014 October 1, 2006 030807 A2 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 FOUR HUNDRED SEVENTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Ames, Iowa (hereinafter referred to as the "Bond Registrar" or the "Paying Agent"), with interest on said sum, until paid, at the rate per annum, specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June I and December I of each year, commencing June 1, 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. 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, premiurii, 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. UNITED STATES OFAMERICA STATE OF IOWA COUNTY OF STORY CITY OFAMES GENERAL, OBLIGATION (,',ORIIORA'1'1,,,. PLIRPOSE" BOND, SERIES 2006A No. 9 $490,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2015 October 1, 2006 030807 A3 5 The ity of Allies (the "City"), in the County of Story, State oflowa, for value received, pronlises to pay on tile maturity date of this Bond io Cede & Co. or registered assigns, the principal surn of' FOUR 11UNDRED NINF-FYTIMUSAND DOLLARS in lawful money of the [Jutted 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 annurn specified above front the date of this Bond, or from the most recent interest payment date oil which interest has been paid, on June I 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 our 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 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Bond Registrar. This Bond is one of a duly authorized series of 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 arriendatory 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 ally 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 tile 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 oil 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, prernium, 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 10 $515,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2016 October 1, 2006 030807 A4 3 'The City of Ames (the "City"), in the County of Story, State of Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. or registered assigns, the principal sum of FIVE HUNDRED FIFTEEN THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of tile 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. 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. UNI'l"ED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF ANIE'S GENE'RAL OBLIGATION CORPORATE PURPOSE' BOND, SERIES 2006A No. 11 $535,000 RATE, MATURITY DATE 13OND DATE? CUS111 4.00% June 1, 2017 October 1, 2006 030807 A5 0 The City of Ames (the "City"), in the County of'Story, State of Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. or registered assigns, the principal surn of FIVE'HUNDREA) I'l]IR'I'Y-I,'IVE'f'fi0t.JSANI-) DOLI-ARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer, Allies, Iowa (hereinafter referred to as the "Bond Registrar" or the "paying Agent"), with interest on said SLIM, until paid, at the rate per annuni specific(] above froin the date of this Bond, or from the most recent interest payment date on which interest has been paid, oil June I 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 our the registration books of the City at the close of business on the fifteenth day of the nionth next preceding the interest payment date and shall be paid by check or draft mailed to the registered owner at the address shown oil such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of'Authentication hereon shall have been signed by the Bond Registrar, This Bond is one of a duly authorized series of 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, tile 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. UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF STORY CITY OF AMES GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2006A No. 12 $560,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2018 October 1, 2006 030807 A6 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 FIVE 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 June I 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 3 60-day year comprised of twelve 3 0-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Bond Registrar. This Bond is one of a duly authorized series of 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.