HomeMy WebLinkAboutA009 - Sale DetailsSALE DETAILS
DATE:
ISSUER: - City of Ames, Iowa
Individuals: Bob ]osUen.Rebecca Stah
Sale Date:
Closing Date:
Place:
City Hall
Legal Process:
Tax Exempt or Build America Bonds
Bid Opening:
11:00 AM CDT; (SealedLPhone,
Fax)
Bid Award:
7:00 PM CDT
Bonds Dated:
Maturity:
June 1,asfollows:
2010 500000
2016
955,000
2011 860000
3017
980000
2012 870,000
2018
1,015,000
20I3 885,000
20I9
I,050,000
2014 905,000
2020
1,090,000
2015 925,000
2021
1,130,000
Principal
Adjustment The City reserves the right to increase or decrease the aggregate principal amount
ofthe issue. Such change will beinincrements of$5,OOOand may bemade inany
ofthe maturities. The purchase price will beadjusted proportionately toreflect any
change in issue size.
First Interest: June ]L201Oand semiannually thereafter. Interest will becomputed Vnthe basis of
a 360-day year oftwelve 30-doy months and will be rounded pursuant to rules of
theMSR8.
Tax Matters: Bonds will beoffered as Federal Tax -Exempt and State Taxable orasTaxable Build
America Bonds (Direct Pay) subject to the determination of the lowest effective
borrowing cost after accounting for the Federal 35%interest expense subsidy.
Record Date: Close of business on the 15th day (whether o/ not a business day) immediately
preceding the payment.
[usipNumbers: The Issuer will assume no obligation for the assignment or printing of [US|P
numbers on the Bonds Vrfor 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 indelivery occasioned thereby.
n30/2009
Call Feature: Bonds due after June 1, 20I7 will be subject to call for prior redemption on said
date or on any day thereafter upon terms of par plus accrued interest to dote of
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
beinmultiples ofone-eighth orone-twentieth ofone percent. Each rate ofinterest
specified for Bonds of any annual maturity shall not be less than a rate of interest
specified for any earlier maturity.
No. of Official
Statements to
Purchaser: 40
Minimum Bid: 1I,086,845
Sure Bid: Yes No
Good Faith: (1%) Required of Purchaser Only. Estimated $111,650.
Registrar: 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, |nc,Des Moines Office
Individual: TionnaPoV|er, Senior Managing Consultant
Notes: Maximum not toexceed $21,200,00
The Bonds will bedesignated asqualified tax-exempt obligations.
n30/2009