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Home My WebLink AboutA022 - Proceedings of February 8, 2011 Ames/4193'l0-44/151/,GOIAs Please Retum To: MINUTES TO SET DATE FOR DORSEY & WHITNEY HEARINGS ON LOAN AGREEMENTS ATTORNEYS AT LAW 801 Grand, Suite 3900 419370-44 Des Moines, Iowa 50309 Ames, Iowa February 8, 2011 The City Council of the it of Ames, Iowa, met on February 8, 2011, at seven o'clock m., at the City Councilal�ibers �z y , in the City. The Mayor presided and the roll was called showing the following members of the Council present and absent: Present: nay; C'nnrlman T arenn Mahayni3Orazem Absent: Wacha Council Member Davis introduced the resolution hereinafter next set out, related to setting a date for hearings on general obligation loan agreements, and moved its adoption, seconded by Council Member LarGnn ; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of the said resolution and the roll being called,the following named Council Members voted: Ayes: Davis, Goodman, Larson, Mahayni, Orazem Nays: None Whereupon,the Mayor declared the resolution duly adopted as follows: Dorsey&Whitney LLP,Attorneys,Des Moines,Iowa Ames/419370-44/1s"/z GOIAs � RESOLUTION NO. 11-041 Resolution to fix a date for public hearings on loan agreements in a total amount not to exceed $6,950,000 WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City Council of 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 $6,640,000, for the essential corporate purpose of paying the cost, to that extent, of constructing street improvements, 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 $310,000 for the general corporate purpose of making improvements to 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 22, 2011, at the City Council Chambers the City, at seven o'clock _.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 date of said meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: 2 Dorsey&Whitney LLP,Attorneys,Des Moines,Iowa Ames/419370-44/1"'/z GO.LAs NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,640,000 (GENERAL OBLIGATION ESSENTIAL CORPORATE PURPOSE) The City o cil of the City of Ames, Iowa, will meet on February 22, 2011, at the CityCouncil C am—' in the City, at seven o'clock .m., for the purpose of instituting � proceedings and taking action to enter into a loan agreement (the "Loan Agreement") in a principal amount not to exceed $6,640,000 for the purpose of paying the cost, to that extent, of constructing street improvements. The 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 Loan Agreement. After receiving objections, the City Council may determine to enter into the 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 Mes14 1 93 7 0-4411 51,GO.LAs 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 date of said 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 Ames/4 1 93 70-44/1 5L/x GO.LAs NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $310,000 (GENERAL OBLIGATION GENERAL CORPORATE PURPOSE) The Cith Coamffrscil.of the City of Ames, Iowa, will meet on February 22, 2011, at the City Council , 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 "Loan Agreement") in a principal amount not to exceed $310,000 for the purpose of making improvements to 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 s Dorsey&Whitney LLP,Attorneys,Des Moines,Iowa Ames/419370-44/1"1/2 GO.LAs (PLEASE NOTE: Do not date and return this certificate until you have received the publisher's affidavit and have verified that the notices were published on the dates indicated in the affidavit but please return all other completed pages to us as soon as they are available.) STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa, do hereby certify that pursuant to the resolution of its Council fixing a date of meeting at which it is proposed to take action to enter into certain loan agreements, the notices, of which the printed slips attached to the publisher's affidavits hereto attached are true and complete copies, were published on the date and in the newspaper specified in such affidavits, which newspaper has a general circulation in the City. / WITNESS MY HAND this 14 1 day of February, 2011. City Clerk (Attach here the publisher's original affidavits with clippings of the notices, as published.) 9 Dorsey&Whitney LLP,Attorneys,Des Moines,Iowa