HomeMy WebLinkAboutA001 - Email from Dorsey & Whitney dated January 17, 2008 - debt service levy resolutions Duane R Pitcher/COA To "Josten, Robert"<Josten.Robert@dorsey.com>
02/04/2008 02:15 PM cc Diane R Voss/COA@COA, Doug Marek/COA@COA, Steve
Schainker/COA@COA, Carol BCollings/COA@COA
bcc
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Subject RE: Debt Service Levy ResolutionsE I
Bob,
We have City Council meetings on February 12 and 26. The public hearing for the pre-levy debt service
authority and final budget certification will be on March.
We intend to issue essential corporate purpose bonds in the amount of$5,392,573 for Street
Improvement with debt service levy of$619,441. We will also be issuing the remaining $5,278,000 in
aquatic center referendum approved G.O. Bonds, I don't think we need pre-levy authority for these bonds
since the have already been approved, but if so the debt service amount is $606,280. Please give me a
call if you need any additional information.
Thanks,
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
"Josten, Robert" <Josten.Robert@dorsey.com>
"Josten, Robert"
<Josten.Robert@dorsey.com> To "Duane R Pitcher"<DPitcher@city.ames.ia.us>
cc "Steve Schainker"<SSchainker@city.ames.ia.us>, "Doug
01/17/2008 05:19 PM Marek"<dmarek@city.ames.ia.us>, "Diane R Voss"
<DVoss@city.ames.ia.us>, "Carol B Collings"
<CCollings@city.ames.ia.us>
Subject RE: Debt Service Levy Resolutions
The first step is to set a date for public hearing (s) on the purposes
for which you will borrow; then hold the hearing(s) and adopt the
pre-levy resolution. If you will send me the purposes and the maximum
amounts you plan to borrow, I can prepare the initial resolution and
notice (s) of hearing for Council action. All I will need in order to
prepare the pre-levy resolution will be the actual debt service amount
you want to levy for the next fiscal year. With your Council meeting
schedule, we can surely be ready to adopt the pre-levy resolution on
March 4 .
-----Original Message-----
From: Duane R Pitcher [mailto:DPitcher@city.ames.ia.us]
Sent: Thursday, January 17, 2008 5:10 PM
To: Josten, Robert
Cc: Steve Schainker; Doug Marek; Diane R Voss; Carol B Collings
Subject: Debt Service Levy Resolutions
Bob,
We intend to levy for debt service for a portion of the G.O. Bond Issue
planned for FY 08/09. My understanding is that we need some sort of pre
levy resolution or other action by City Council as we certify the
budget.
I would like to include this along with our budget certification on
March 4, 2008. Please let me know what information you will need to
prepare the required resolutions and if the timing of the March 4
meeting works, or if this needs to be part of the budget public hearing.
Thanks,
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
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