HomeMy WebLinkAboutA007 - Letter to Story County Auditor dated February 27, 2008 - certified copy of Res. No. 08-071 - City Clerk's Office
515 Clark Avenue,P. O. Box 811
Caring People Ames,1A 50010
Qualiry Programs
Exceptional Service Phone: 515-239-5105
Fax: 515-239-5142
February 27, 2008
Ms. Mary Mosiman
Story County Auditor
Story County Administration Building
Nevada, Iowa 50201
RE: General Obligation Corporate Purpose Bonds, Pre-Levy
Dear Mary:
Enclosed please find a certified copy of Resolution 08-071, which was adopted by the Ames City
Council on February 26, 2008, providing for the issuance of the above-named Bonds. Please sign
the Certificate of the County Auditor verifying the filing of same and return in the enclosed self-
addressed, stamped envelope.
If you have any questions, please call me. Thank you for your assistance!
Sincerely,
Q�&_M�W
Diane Voss
City Clerk
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Enclosures
City Clerk's Office
Caring People
515 Clark Avenue,P. O. Box 811
,
Quality Programs Ames,IA 50010
Eueydoaal service Phone: 515-239-5105
Fax: 515-239-5142
February 27, 2008
STATE OF IOWA
COUNTY OF STORY
CITY OF AMES
I, Diane R. Voss, being the duly appointed City Clerk of the City of Ames, Iowa, do hereby certify
that the above and foregoing Resolution No. 08-071 is a true and accurate copy of the said Resolution,
and that the said Resolution was passed and adopted by the City Council of the City of Ames, Iowa,
at a duly called meeting thereof on the 26th day of February, 2008.
Diane R. Voss, City Clerk
(SEAL)
Ames/419370-36/2°d%Hrg-Prelevy
c ,
RESOLUTION NO. 08-071
Authorizing the issuance of General Obligation Corporate Purpose Bonds and
providing for the levy of taxes to pay debt service on those Bonds and on General
Obligation Aquatic Center Bonds
WHEREAS, pursuant to notice of the proposed action of the City Council of Ames, Iowa
(the "City") to institute proceedings for the issuance of$6,892,573 General Obligation Corporate
Purpose Bonds (the "Corporate Purpose Bonds") for the purpose of paying the cost, to that
extent, of street and water improvements, heretofore given in strict compliance with the
provisions of Chapter 384 of the Code of Iowa and hearing held thereon, the Council may now
take additional action to issue the Bonds; and
WHEREAS, pursuant to referendum, the City has authority to issue $5,278,000 General
Obligation Aquatic Center Bonds (the "Aquatic Center Bonds") (the General Corporate Purpose
Bonds and the Aquatic Center Bonds are herein referred to as the"Bonds"); and
WHEREAS, it is deemed necessary and advisable to provide for the levy and collection
of taxes to pay the principal of and interest on the Bonds for the fiscal year beginning July 1,
2008, prior to the sale of the Bonds;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Corporate Purpose Bonds are hereby authorized to be issued in the
future .
Section 2. For the purpose of providing for the levy and collection of a direct annual
tax sufficient to pay the principal of and interest on the Bonds as the same become due, there is
hereby ordered levied on all the taxable property in the City in each of the years while the Bonds
are outstanding, a tax sufficient for that purpose, and in furtherance of this provision, but not in
limitation thereof, there is hereby levied on all the taxable property in the City the following
direct annual tax for collection in the following fiscal year:
For collection in the fiscal year beginning July 1, 2008,
sufficient to produce the net annual sum of$1,199,266.
provided, however, that at the time the Bonds are sold, the actual tax levy amounts required to
pay the principal of and interest on the Bonds in each subsequent year shall be determined based
upon the interest rate or rates at which the Bonds are sold, and this resolution shall be amended
by the Council to provide for such actual and necessary tax levy amounts.
Section 3. A certified copy of this resolution shall be filed with the County Auditor
of Story County, and the Auditor is hereby instructed to enter for collection and assess the tax
hereby authorized. When annually entering such taxes for collection, the County Auditor shall
include the same as a part of the tax levy for Debt Service Fund purposes of the City and when
collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City and
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Dorsey& Whitney LLP, Attorneys, Des Moines, Iowa
Ames/419370-36/2°d'/z Hrg-Prelevy
set aside therein as a special account to be used solely and only for the payment of the principal
of and interest on the Bonds hereby authorized and for no other purpose whatsoever.
Section 4. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved February 26, 2008.
Mayor
Attest:
City Clerk
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Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa
Ames/4 1 93 7 0-3 6/2°d'/�Hrg-Prelevy
STATE OF IOWA
SS:
COUNTY OF STORY
I, the undersigned, County Auditor of Story County, in the State of Iowa, do hereby
certify that on the day of , 2008, the City Clerk of the City of Ames
filed in my office a certified copy of a resolution of the City shown to have been adopted by the
Council on February 26, 2008, entitled: "Resolution authorizing the issuance of General
Obligation Corporate Purpose Bonds and providing for the levy of taxes to pay those Bonds and
General Obligation Aquatic Center Bonds" and that I have duly placed the copy of the resolution
on file in my records.
I further certify that the taxes provided for in that resolution will in due time, manner and
season be entered on the State and County tax lists of this County for collection in the fiscal year
beginning July 1, 2008, and subsequent years as provided in the resolution.
WITNESS MY HAND and the seal of the County hereto affixed this day of
2008.
County Auditor
(Seal)
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Dorsey& Whitney LLP, Attorneys, Des Moines, Iowa