HomeMy WebLinkAboutA013 - Letter from Dorsey & Whitney dated April 9, 2009 - Resolution for April 14E)ORS BY
April 9, 2009
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Diane R. Voss
City Clerk/City Hall
515 Clark Avenue
Ames, Iowa 50010-0811
Re: $6,995,000 General Obligation Refunding Bonds, Series 2009A
Our File No. 419370-40
Dear Diane:
We have prepared and enclose a resolution to be adopted at the April 14, 2009 Council
meeting in order to authorize the issuance of the General Obligation Refunding Bonds, Series
2009A.
The proceedings enclosed Include the following items:
1. Resolution authorizing the issuance of" the Bonds. The form of Bond,
Authentication Certificate and Assignment set out in the resolution should not be completed or
executed.
2. Certificate attesting the transcript.
3. Certificate of the County Auditor relating to the filing of a certified copy of the
Bond Issuance Resolution in that office.
After it is adopted., a certified copy of the resolution must be filed with the Story County
Auditor. An extra copy of the resolution is enclosed for this purpose.
Beginning on July 1, 2010, the County Auditor will have a mandatory duty to make a
levy of taxes to pay principal of and interest on the Bonds unless the City's budget each year
affirmatively shows that the tax should not be levied because other funds will be applied to the
payment of the Bonds for that budget year. To the extent the City determines that property tax
levies will be needed for payment in any year, the tax levy amounts needed must be certified for
that year in the City's budget as part of the Debt Set -vice Fund, and the funds derived from
sources other than taxes I'LlUst be shown on the appropriate budget docurnent.
As these proceedings are completed, please return one fully executed copy to our office.
Also enclosed are three copies of the Loan Agreement for execution by you and the
Mayor. After they have been signed please return all of these copies to LIS so that we can have
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Page 2
them signed on behalf of Piper Jaffray & Co., after which we will furnish you with a signed
original.
We are enclosing three copies of the Continuing Disclosure Certificate for you and the
Mayor to sign, after which two executed copies should be returned to us.
If you have any questions, please contact me.
REJ:bs
Enclosures
cc: Steve Schainker
Duane Pitcher
Doug Marek.
Roger Wisecup
Tionna Reed Pooler