HomeMy WebLinkAboutA001 - Time Schedule 1
TIME SCHEDULE
CITY OF AMES, IOWA
$9,630,000 General Obligation Bonds, Series 2007A
Aug-07 Se p-07 Oct-07 Nov-07
r12
M T W T F S S M T W T F S1 S M1 2 W 4 F5 S6 r12
T W T1 F2 S
1 2 3 4
6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 'D 11 12 13 6 7 8 9 10
13 14 fi 16 17 18 9 10 11 2 13 14 15 14 15 16 '9 18 19 20 13 11 15 16 1720 21 22 23 24 25 16 17 18 '9 20 21 22 21 22 23 24 25 26 27 2 19 07 28 29 30 2 23 21 22 23 24
26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31
30
Task Description Responsibility
Date FA
August -November Document Preparation Prepare sale details /refunding
analysis
Prepare official statement
Prepare bond resolution BC
• Review draft documents C, BC, FA
Sept 4 LABOR DAY HOLIDAY
Sep 11 Council Meeting •
Set Public Hearing for Sep 25 C, BC
Sep 25 Council Meeting • I/
Hold Public Hearing, Set Sale date C,BC ON October 2� -7G' '(3
Oct 1 (PM) 05 Review Distribute near final OS to City and FA
Council for Review
Oct 9 COLUMBUS DAY HOLIDAY
Oct 10 (AM) Official Statement •
Final Comments Due for 05 C,BC
Targeted time frame for C, FA
Oct 11-12 Rating Presentation Tar 9
presentation, TB[)
o�
The PFM Group
x--
Oct 12
Official Statement 0 Distribute 05 for printing FA
Oct 16-17 Ratings released 0 Rating report released
Oct 18-23
Market Bonds 0 Call Potential bidders (near sale FA
date)
Monitor market conditions FA
®— The PFM Group
Aug-07 Se p-07 Oct-07 Nov-07
S M T W T F S S M T W T F S S M T W T F S S M T W T F S
1 2 3 4 1 1 2 3 4 5 6 1 2 3
5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 1) 11 12 13 4 5 6 7 8 9 10
12 13 14 b 16 17 18 9 10 11 Y 13 14 15 14 15 16 9 18 19 20 11 12 13 9 15 16 17
19 20 21 22 23 24 25 16 17 18 13 20 21 22 21 22 23 24 25 26 27 18 19 20 21 22 23 24
26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31 25 26 27 28 29 30
30
Date Task Description Responsibility
Oct 23 Bond Sale 11:00 AM Take bids and check for accuracy FA
Prepare sale analysis FA
Complete authorizing resolution FA,BC
Oct 23 Council Meeting Council awards sale
Council Meeting Council Adopts final resolution C,BC
Oct 24 -Nov 8 Closing Preparations Prepare closing documents BC
Confirm closing date and funds FA
transfer
Closing letter to all parties FA
Nov 9 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: September 4,2007
ISSUER: Ames,Iowa 's
BOND NAME: $9,630,000 General Obligation Bonds,
Series 2007A
BOND ATTORNEY: Dorsey&Whitney
Individual: Robert Josten,Jeane Harrison
Sale Date: October 23,2007
Closing Date: November 9,2007
Place: Ci1y Hall
Bid Opening: 11:00 AM CT (FAXED&SEALED)
Bid Award: 7:00 PM CT
Bonds Dated: November 1,2007
Maturity: June 1,as follows:
2008 245,000 2014 840,000
2009 685,000 2015 880,000
2010 715,000 2016 920,000
2011 745,000 2017 960,000
2012 775,000 2018 1,005,000
2013 805,000 2019 1,055,000
First Interest: June 1,2008 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, 2015 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: $9,562,590
Sure Bid: Yes X No
Good Faith: $96,300(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.
• J
Duane R Pitcher/COA To Diane R Voss/COA@COA, Sue RyboIUCOA@COA, Roger
09/05/2007 04:58 PM Wisecup/COA@COA
� 44
cc
4 ,f
`. bCC
Subject Fw: City of Ames 2007A Issuance
Updated information for our G.O. bond sale.
Duane
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
-----Forwarded by Duane R Pitcher/COA on 09/05/2007 04:57 PM-----
�=— "Tionna POOLER"
<POOLERT@pfm.com> To "Duane R Pitcher"<DPitcher@city.ames.ia.us>, "Jeane
09/04/2007 04:35 PM Harrison"<Harrison.Jeane@dorsey.com>,
<Josten.Robert@dorsey.com>
cc
Subject City of Ames 2007A Issuance
Good afternoon:
Attached are pre-sale numbers, sale details, and an updated schedule. The NTE for the hearing
purposes on the bonds is 9,750,000. Duane, I assume that this will be a bank qualified issuance;
please verify that there have been no SRF or conduit issuances in the calendar year. Bob and I
also assume that there are no changes to the purposes that you have already provided, please
confirm.
Let me know if there are any questions. Thank you,
Tionna
Tionna Reed Pooler, Senior Managing Consultant
The PFM Group I www.pfm.com I poolert(�pfm.com
2600 Grand Avenue I Suite 214 I Des Moines, IA 503121
515.243.2600 x 225 Phone 1515.243.6994 Fax I Pre-Sale Series 2007A.pdf 2007.4 Sale Details.doc
71
_I
Schedule_rf_Events_09-04-07.doc Tionna PO0LER1.vcf