HomeMy WebLinkAboutA014 - Email from Dorsey & Whitney dated March 1, 2010<Josten.Rober @dorsey.com To <DVoss@city.amesJa.us>
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03/01/2010 06:57 PM
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Subject RE: Bond Issues
Elm not sure I understand your question. The materials I prepared for
Feb. 23 meeting covered two hearings, and a resolution that referenced
having held hearings on a total of $6,690,000, which is the total of the
two proposed issues. That resolution then includes a debt service tax
levy of $683,098, the figure I received from Duane Pitcher. That amount
covers both the $6,600,000 and the $90,000. There is no separate
resolution for just the $90,000, because it is included along with the
$6,600,000. And, it will not be a separate bond issue. We needed
separate hearings because the proposed City Hall improvements are a
"general corporate purpose" and all the other projects are "essential
corporate purposes." When the City finally issues bonds, however, all
the projects will be financed out of one bond issue.
Please contact me if I can provide more information. I am in my office
now, and you may call me, if you wish (515) 283-1000.
Message-----.
From: Diane R Voss [mailto:DVoss@city.ames.ia.us]
Sent: Monday, March 01, 2010 6:48 PM
To: Josten, Robert
Subject: Bond Issues
Bob:
It appears that the proceedings that I completed from the City Council's
February 23 meeting only pertained to the $6.6 million pre --levy. A
hearing was also held on the issuance of $90,000 General Corporate
Purpose General Obligation. Bonds. Should I have proceedings (and the
Resolution) for that separate from the $6.6 million issue?
Diane Voss, City Clerk/Records Manager
P. 0. Box 811
Ames, Iowa 5001-0
(515) 239-5105