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Home My WebLink About~Master - $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A 1 HORSEY L IE August 3, 2006 - AUG - 7 Diane R.Voss City Clerk City Hall CITY CLERK Post Office Box 811 CITY OF ANTES,IOWA 515 Clark Avenue Ames,Iowa 50010-0811 Re: $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A Our File No. 419370-34 Dear Diane: Based on information we received from Duane and Tionna, we have prepared and enclose proceedings to be used at the August 8 City Council meeting to set August 22 as the date for the hearing on the issuance of the General Obligation Corporate Purpose Bonds. The proceedings enclosed include the following items: 1. Resolution setting the date for hearing on the Bonds. The form of notice of hearing is set out in Section 2 of the resolution, and an extra copy is enclosed for delivery to the publisher. 2. Certificate attesting the transcript. 3. Organization Certificate. 4. Certificate with respect to the publication of the notice, to which must be attached the publisher's affidavit of publication with a clipping of the notice as published. The notice must be published at least once and not less than 4 nor more than 20 days before the meeting date set for the hearing in a legal newspaper of general circulation in the City. As soon as the notice appears in the newspaper, please have a copy faxed to our office at (515) ��. 283-1060. Please return one fully executed copy of all of the completed pages to us as soon as they are available. Please call if you have any questions. CJ, " Ve ly yours, f ? obert E. Josten REJ:cf Ames/419370-34/1`%,GO Bond Hrg Enclosures cc: Steven Schainker Duane Pitcher DORSEY & WHITNEY LLP • ATTORNEYS AT LAW • WWW.DORSEY.COM •T 515.283.1000 Doug Marek F 515.283.1060 • 801 GRAND • SUITE 3900 • DES MOINES, IOWA 50309-2790 Tionna Reed Pooler USA CANA(DA EUROPE ASIA r 1 2600 Grand Avenue 515-243-2600 �— Suite 214 515-243-6994 fax Des Moines,IA www.pfm.com 50312 The PFM Group DRAFT TIME SCHEDULE CITY OF AMES, IOWA $5,285,000 General Obligation Bonds, Series 20061 � J u I-06 Aug-06 Se p-06 Oct-06 S M T W T F S S M T W T F S S M T W T F S S M T W T F S 1 1 2 3 4 5 1 2 1 2 3 4 5 6 7 2 3 4 5 6 7 8 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 9 10 11 12 13 14 15 13 14 15 13 17 18 19 10 11 12 13 14 15 16 15 16 17 8 19 20 21 16 17 18 8 20 21 22 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 23 24 25 26 27 28 29 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 30 31 Date Task Description Responsibility July -October Document Preparation • Prepare sale details /refunding analysis FA • Prepare official statement • Prepare bond resolution BC • Review draft documents C, BC, FA Aug 8 % Council Meeting • Set Public Hearing for August 22 C, BC Aug 22 Council Meeting • Hold Public Hearing, Set Sale date for C,BC September 12 Aug 25 (PM) 05 Review • Distribute near final 05 to City and FA Council for Review Aug 28-30 Rating Presentation • Targeted time frame for presentation, C, FA TBD Aug 30 (AM) Official Statement • Final Comments Due for 05 C,BC Aug 31 Official Statement • Distribute 05 for printing FA Sept 4 LABOR DAY HOLIDAY Sept 7-11 Market Bonds Call Potential bidders (near sale date) FA • Monitor market conditions FA Sept 7-8 Ratings released Rating report released RA ,dM== The PFM Group J u I-06 Aug-06 Sep-06 Oct-06 S M T W T F S S M T W T F S S M T W T F S S M T W T F S 1 1 2 3 4 5 1 2 1 2 3 4 5 6 7' 2 3 4 5 6 7 8 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14' 9 10 11 12 13 14 15 13 14 15 8 17 18 19 10 11 12 tB 14 15 16 15 16 17 13 19 20 21 16 17 18 13 20 21 22 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 23 24 25 26 27 28 29 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 30 31 Dote Task Description Responsibility Sept 12 Bond Sale 11:00 AM • Take bids and check for accuracy FA Prepare sale analysis FA FA,BC Sept 12 Council Meeting • Council awards sale Sep 13-25 Legal Docs • Complete authorizing resolution BC Sept 26 Council Meeting • Council Adopts final resolution C,BC Sept 27 - Oct 6 Closing Preparations • Prepare closing documents BC • Confirm closing date and funds transfer FA • Closing letter to all parties FA Oct 10 Closing . Purchaser pays for the Bonds C, BC, FA Financing Team Members: C = City of Ames BC = Dorsey& Whitney (bond counsel) FA = Public Financial Management, Inc. (financial advisor) RA = Moody's Investors Service (rating agency) SALE DETAILS DATE: July 17, 2006 ISSUER: Ames, Iowa BOND NAME: $5,285,000 General Obligation Corporate Purpose Bonds Series 2006A BOND ATTORNEY: Dorsey&Whitney Individual: Robert Josten Sale Date: September 12, 2006 Closing Date: October 10, 2006 Place: City Hall Bid Opening: 11:00 AM CT(PARITY,FAXED& SEALED) Bid Award: 7:00 PM CT Bonds Dated: October 1, 2006 Maturity: June 1, as follows: 2007 $275,000 2013 $450,000 2008 365,000 2014 470,000 2009 380,000 2015 490,000 2010 400,000 2016 515,000 2011 415,000 2017 535,000 2012 430,000 2018 560,000 First Interest: June 1, 2007 and semiannually thereafter. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. Record Date: Close of business on the 15th day (whether or not a business day) of the immediately preceding month. Cusip Numbers: The Issuer will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon,but will permit such numbers to be printed at the expense of the purchaser, if the purchaser waives any delay in delivery occasioned thereby. Call Feature: Bonds due after June 1, 2014 will be subject to call for prior redemption on said date or on any day thereafter upon terms of par plus accrued interest to date of call. IF APPLICABLE: Award: The Bonds will be awarded to the bidder offering the lowest true interest rate to be determined on a true interest cost basis (TIC). The Issuer's computation of the true interest cost of each bid,in accordance with customary practice, shall be conclusive. Interest Rates: Each annual maturity must bear the same interest rate. Rates of interest bid must be in multiples of one-eighth or one-twentieth of one percent. Each rate of interest specified for Bonds of any annual maturity shall not be less than a rate of interest specified for any earlier maturity. #of Final OS for Purchaser: 50 Minimum Bid: $5,248,005 Sure Bid: Yes X No Good Faith: $528,500(1%) Registrar/ Paying Agent: Ames City Treasurer Book Entry Only: This offering will be issued as fully registered Bonds and,when issued,will be registered in the name of Cede&Co., as nominee of The Depository Trust Company, New York,New York. Financial Advisor: Public Financial Management, Des Moines Office Individual: Tionna Pooler, Senior Managing Consultant Notes: The Bonds are designated as qualified tax-exempt obligations.