HomeMy WebLinkAboutA011 - Resolution No. 10-036, Notices of proposed actionAmes 419370-43/1" Y2 GOIA's
I M,
To fix a date for public hearings on general obligation loan agreements
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
of Ames, in the County of Story, State of Iowa (the "City"), proposes to enter into a loan
agreement (the "Essential Corporate Purpose Loan Agreement") in a principal amount not to
exceed $6,600,000, for the essential corporate purposes of paying the cost, to that extent, of
construction of improvements to streets and bridges and acquisition of fire equipment, and it is
necessary to fix a date of meeting of the Council at which it is proposed to take action to enter
into the Essential Corporate Purpose Loan Agreement and to give notice thereof as required by
such law; and
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
also proposes to enter into a loan agreement (the "General Corporate Purpose Loan Agreement")
in a principal amount not to exceed $90,000 for the general corporate purpose of paying the cost,
to that extent, of co * nstructing improvements to the City Hall, and, in lieu of calling an election
therefor, the City desires to institute proceedings to enter into such loan agreement by causing a
notice of such proposal to be published, including notice of the right to petition for an election,
under the provisions of Section 384.26 of the Code of Iowa;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. This Council shall meet on February 23, 2010, at the
Council Chambers , in the City, at seven_ o'clock _4)_.m., at which time and place the
hearings will be held and proceedings will be instituted and action taken to enter into the loan
agreements.
Section 2, The City Clerk is hereby directed to give notice of the proposed action on
the Essential Corporate Purpose Loan Agreement, setting forth the amount and purpose thereof,
the time when and place where the said meeting will be held, by publication at least once and not
less than 4 nor more than 20 days before the meeting, in a legal newspaper which has a general
circulation in the City, The notice shall be in substantially the following form:
Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa
Ames 419370-43/lst V2 G.01A's
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT
NOT TO EXCEED $6,600,000
(GENERAL OBLIGATION ESSENTIAL CORPORATE PURPOSE)
The City Council of the City of Ames, Iowa, will meet on February 23, 2010, at the
-LaunciL-Lhamber,--, in the City, at seven o'clock __p_.m., for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "Essential Corporate Purpose
Loan Agreement") in a principal amount not to exceed $6,600,000 for the purpose of paying the
cost, to that extent, of construction of improvements to streets and bridges and acquisition of fire
equipment.
The Essential Corporate Purpose Loan Agreement is proposed to be entered into pursuant
to authority contained in Section 384.24A of the Code of Iowa and will constitute a general
obligation of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Essential Corporate Purpose Loan Agreement. After receiving objections, the City
Council may determine to enter into the Essential Corporate Purpose Loan Agreement, in which
case, the decision will be final unless appealed to the District Court within fifteen (15) days
thereafter.
By order of the City Council of the City of Ames, Iowa.
Diane R. Voss
City Clerk
3
Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa
Ames 419370-43/1 st 1/2 G.O.LA's
Section 3. The City Clerk is hereby directed to give notice of the proposed action on
the General Corporate Purpose Loan Agreement setting forth the amount and purposes thereof,
the time when and place where the meeting will be held, by publication at least once and not less
than 10 nor more than 20 days before the meeting, in a legal newspaper which has a general
circulation in the City. The notice shall be in substantially the following form:
4
Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa
5
Arnes 419370-43/11' % G.O.LA's
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO
A LOAN AGREEMENT IN A PRINCIPAL AMOUNT
NOT TO EXCEED $90,000
(GENERAL OBLIGATION GENERAL CORPORATE PURPOSE)
The City Council of the City of Ames, Iowa, will meet on February 23, 2010, at the
Council Chambers , in the City, at seven o'clock __p.m., for the purpose of instituting
proceedings and taking action to enter into a loan agreement (the "General Corporate Purpose
Loan Agreement") in a principal amount not to exceed $90,000 for the purpose of paying the
cost, to that extent, of constructing improvements to the City Hall.
This Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 384.24A of the Code of Iowa and will constitute a general obligation of the City.
The maximum rate of interest which may be payable under this Loan Agreement is 6%
per annum.
At any time before the date fixed for taking action to enter into this Loan Agreement, a
petition may be filed with the City Clerk of the City asking that the question of entering into this
Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of
Section 384.26 of the Code of Iowa.
By order of the City Council of the City of Ames, Iowa.
Diane R. Voss
City Clerk
5
Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa
Ames 419370-43/1' 1/2 G,O.L.Als
Section 4, All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved February 9, 2010.
Attest:
City Clerk
Mayor 7-
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Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa