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HomeMy WebLinkAboutA026 - Proceedings of February 22, 2011 Ames/419370-44/2n4 j/2 Hrgs Only MINUTES TO HOLD HEARINGS ON Please Return To: LOAN AGREEMENTS DORSEY & WHITNEY ATTORNEYS AT LAW 419370-44 801 Grand, Suite 3900 Des Moines, Iowa 50309 Ames, Iowa February 22, 2011 The City Council of the City of Ames, Iowa, met on February 22, 2011, at 7:00 p.m., at the City Council Chambers, Ames, Iowa. The meeting was called to order by the Mayor, and the roll was called showing the following members of the City Council present and absent: Present: Davis. Goodman_ T.arcnn_ Maha�mi _ f)raZam_ Warha Absent: None This being the time and place specified for taking action on the proposal to enter into an Essential Corporate Purpose Loan Agreement in a principal amount not to exceed $6,640,000, the City Clerk announced that no written objections had been placed on file. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor closed the public hearing. This also being the time and place specified for taking action on the proposal to enter into a General Corporate Purpose Loan Agreement in a principal amount not to exceed $310,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. After due consideration and discussion, Council Member introduced the following resolution and moved its adoption, seconded by Council Member The Mayor put the question upon the adoption of said resolution, and the roll being called,the following Council Members voted: Ayes: Davis, Goodman, Larson Mahayni, Orazem, Wacha Nays: None Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out. -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/4 1 93 7 0-44/2nd'/z Hrgs Only At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. • �i�M,v Mayor Attest: City Clerk -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-44/2nd%z Hrgs Only MINUTES TO HOLD HEARINGS ON Please Return To: LOAN AGREEMENTS DORSEY & WHITNEY ATTORNEYS AT LAW 419370-44 801 Grand, Suite 3900 Des Moines, Iowa 50309 Ames, Iowa February 22, 2011 The City Council of the City of Ames, Iowa, met on February 22, 2011, at 7:00 p.m., at the City Council Chambers, Ames, Iowa. The meeting was called to order by the Mayor, and the roll was called showing the following members of the City Council present and absent: Present: Davis, o Goodman, T argnp, MahaVni, nrAZem, Wacha Absent: None This being the time and place specified for taking action on the proposal to enter into an Essential Corporate Purpose Loan Agreement in a principal amount not to exceed $6,640,000, the City Clerk announced that no written objections had been placed on file. Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor closed the public hearing. This also being the time and place specified for taking action on the proposal to enter into a General Corporate Purpose Loan Agreement in a principal amount not to exceed $310,000, the City Clerk announced that no petition had been filed asking that the question of entering into the loan agreement be submitted to the registered voters of the City, and that the City Council may proceed with the authorization of the loan agreement. After due consideration and discussion, Council Member introduced the following resolution and moved its adoption, seconded by Council Member The Mayor put the question upon the adoption of said resolution, and the roll being called,the following Council Members voted: Ayes: Davis, Goodman, Larson, Mahayni, Orazem Wacha Nays: None Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out. -1- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-44/2nd%Hrgs Only At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. Mayor Attest: City Clerk -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA 1 Ames/419370-44/2"d'/z Hrgs Only RESOLUTION NO. 11-066 Resolution taking additional action to enter into Loan Agreements 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"), has heretofore proposed 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 has published notice of the proposed action and has held a hearing thereon on February 22, 2011; and WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City has also proposed 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 upon such proposal, has published notice of the proposed action and has held a hearing thereon, and no petition has been filed with the City asking that the question of entering into the General Corporate Purpose Loan Agreement be submitted to the registered voters of the City;and WHEREAS, pursuant to Section 384.28 of the Code of Iowa, the City Council may combine the Essential Corporate Purpose Loan Agreement and the General Corporate Purpose Loan Agreement into a single loan agreement; NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as follows: Section 1. The Essential Corporate Purpose Loan Agreement and the General Corporate Purpose Loan Agreement are hereby combined into a single loan agreement (the "Loan Agreement"), and the City Council hereby determines to enter into the Loan Agreement in the future and orders that general obligation bonds or notes be issued in evidence thereof. The City Council further declares that this resolution constitutes the "additional action" required by Section 384.24A of the Code of Iowa. Section 2. All resolutions and orders or parts thereof in conflict with the provisions of this resolution,to the extent of such conflict, are hereby repealed. Section 3. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. -3- DORSEY&WIRTNEY LLP,ATTORNEYS,DES MOINES,IOWA 1 � Ames/419370-44/2nd%Hrgs Only Passed and approved February 22,2010. Mayor Attest: City Clerk -4- DORSEY&WOTNEY LLP,ATTORNEYS,DES MOINES,IOWA Aae,/419370-44/2nd'/2 Hrgs Only STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, do hereby certify that attached hereto is a true and correct copy of the proceedings of the City Council relating to the hearings on the City Council's intention to enter into an Essential Corporate Purpose Loan Agreement in a principal amount not to exceed $6,640,000 and a General Corporate Purpose Loan Agreement in a principal amount not to exceed $310,000. I further certify that no petition was filed in my office asking that the question of entering into the General Corporate Purpose Loan Agreement be submitted to the registered voters of the City. WITNESS MY HAND this 22nd day of February, 2011. City Clerk -5- DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA