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HomeMy WebLinkAboutA032 - Bonds No. 1 through 10 UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.1 $1,260,000 RATE MATURITY DATE DATE CUSIP 2.00% June 1,2012 May 17,2011 030807 H-38 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of ONE MILLION TWO HUNDRED SIXTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June I and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds,Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of!re Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bonds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shalt cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such regstered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CRY OF AMES,IOWA By Attest: Mayor •V� City Clerk Registration Date: May l 7,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar r-� By ty ABBREVIATIONS The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) .R TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (Stow) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns tltls Bond to (Please print or type name and address of Assigns) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to trat for this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarmttoe must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appear on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.2 $1,280,000 RATE MATURITY DATE DATE CUS IP 2A0% June 1,2013 May 17,2011 030807 H-46 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of ONE MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June i and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 20C2B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of die Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bands maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000, If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable properly within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By Attest: Mayor •V� City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Regis7 i ABBREVIATIONS The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (dun) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby aclmowledged,the undersigned assigns this Bond to (Please print or type acme and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTwMG NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent. Such standards and procedures may require signatures to be guaranteed by certain eligible guanvilor insfibdons that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.3 $1,290,000 RATE MATURITY DATE DATE CUSIP 2.00% June 1,2014 May 17,2011 030807 H-53 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of ONE MILLION TWO HUNDRED NINETY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June 1 and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forthwith respect to redemption prior to maturity maybe or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of die Bonds and the rights of the owners of the Bonds. The City reserves the right to prepay part or all of the Baids maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof;premium,if any,and interest due hereon aid for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereot both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA Bye _ Attest: Mayor City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar / By "Gt/ C T ABBREVIATIONS The following abbreviations, when used in this Bad,shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby sclmowledged,We undersigned assigns this Bond to (Please print or type name and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the provailing standards and procedures of the Registrar and Transfer Agatt. Such standards and procedures may require signatures to be guaranteed by cocain eligible gua for institutions that participate in a recognized stgnadae guaaotee program) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appeas on this Bad in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.4 $735,000 RATE MATURITY DATE DATE CUSIP 2.00% June 1,2015 May 17,2011 030807 H-61 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of SEVEN HUNDRED THIRTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June I and December I of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,990,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statementas to the source of payment of fie Bonds and the rights of the owners of the Bonds. The City reserves the right to prepay part or all of the Bands maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar aid the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA - U Attest: Mayor City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Register By Ci ABBREVIATIONS The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenaruts by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby acknowied$d,the undersigned assigns this Bond to (Please print or type creme and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent. Such standards and procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.5 $225,000 RATE MATURITY DATE DATE CUSIP 2,00% June 1,2016 May 17,2011 030807 H-79 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED TWENTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June 1 and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 200213,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of he Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bonds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1, 2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof; upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of finds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and.treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By Attest: Mayor Citv Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within4nentioned Resolution. CITY TREASURER Ames,Iowa Registrar _ By —� ABBREVIATIONS The following abbreviations, when used in this Bond,shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As than for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby aclmowledwd,the undersigned assigns this Bond to (Piesse print or type mne and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint .Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.6 $230,000 RATE MATURITY DATE DATE CUSIP 2.50% June 1,2017 May 17,2011 030807 H-87 The City of Ames(the"City"),in Story Countv,State of Iowa;for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED THIRTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June I and December I of each year,commencing December 1,2011,except as the provisions hereinafter set forthwith respect to redemption prior to maturity maybe or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds,Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation.Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statementas to the source of payment of he Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bonds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be-redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shalt be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that al I acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due,that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. f IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized fwsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA /] By U Attest: Mayor City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar BY — C' ABBREVIATIONS The following abbreviations,when used in this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (Stffie) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby ack nowledpd,the undersigned assigns this Bond to (Please print or type now and address of Assignee) PLEASE INSERT SOCIAL.SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.7 $230,000 RATE MATURITY DATE DATE CUSIP 2.625% June 1,2018 May 17,2011 030807 H-95 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to nay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED THIRTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June 1 and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds,Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of the Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Binds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By — Attest: Mayor •V� City Cie& Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of die Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar2 ,, l `�/ By Gty T ABBREVIATIONS The following abbreviations,when used in this Bond,shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby aclmowledpd,the undersigned assigns this Bond to (Please primor type name and address of Assigns) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint .Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution Dated: Signature guaranteed: (Signature guarantee must be provided is accordance with the prevailing standards and procedures of the Registrar and Transfer Agent. Such standards ard procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guawdee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.8 $235,000 RATE MATURITY DATE DATE CUSIP 3.00% June 1,2019 May 17,2011 030807 J-28 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED THIRTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June 1 and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other taws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of fie Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Binds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof;upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other parposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the pritcipal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof;both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By 6 U Attest: ` Mayor City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar By • ABBREVIATIONS The following abbreviations, when used in this Bond,shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenons by the entireties (Custodian) )T TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Moors Ad (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby aclrnowledg:d,the undersigned assigns this Bond to (Please print or type name and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided m accordance with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signal ues to be guaranteed by certain eligible guarantor institutions Lions that participate in a recognized signature guarantee Program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No.9 $245,000 RATE MATURITY DATE DATE CUSIP 3.25% June 1,2020 May 17,201 I 030807 J-36 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED FORTY-FIVE THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June I and December I of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds")issued by the City in the principal amount of $5,980,000,to evidence its obligation under a certain loan agreement,dated as of May 17,2011(the"Loan Agreement"),entered into by the City for the purpose of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 20MB,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003. The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statement as to the source of payment of the Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bonds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And It Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By — Attest: Mayor Citv Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar BY City ABBREVIATIONS The following abbreviations, when used in this Bond,shall be construed as though they were written out in full according to applicable taws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby adtnowledpd,the undersigned assigns this Bond to (Please print or type creme and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution. Dated: Signature guaranteed: (Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signatures to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever. UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES GENERAL OBLIGATION REFUNDING BOND,SERIES 2011A No. 10 $250 000 RATE MATURITY DATE DATE CUSIP 3.35% June 1,2021 May 17,2011 030807 J-44 The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to Cede&Co. New York,NY or registered assigns,the principal sum of TWO HUNDRED FIFTY THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames, Iowa, (hereinafter referred to as the"Registrar"or the"Paying Agent"),with interest on said sum,until paid,at the rate per annum specified above,from the date of this Bond,or from the most recent interest payment date on which interest has been paid,on June I and December 1 of each year,commencing December 1,2011,except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date,and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Refunding Bonds, Series 2011A(the"Bonds") issued by the City in the principal amount of the"Loan Agreement"),entered into b the City for the purpose 5 980 000 to evidence its obligation under a certain loan agreement,dated as of May 17 2011 g ), Y tY P $ , g � Y ( of paying the cost,to that extent,of refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds,Series 2002A,dated May 1, 2002,the General Obligation Corporate Purpose Bonds,Series 2002B,dated October 15,2002 and the General Obligation Corporate Purpose Bonds,Series 2003, dated September 1,2003, The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the Code of Iowa,2011,and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council adopted and approved on April 26,2011,authorizing and approving the Loan Agreement and providing for the issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete statementas to the source of payment of the Bonds and the rights of the owners of the Bonds The City reserves the right to prepay part or all of the Bonds maturing in each of the years 2019 to 2021,inclusive,prior to and in any order of maturity on June 1,2018,or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of more than$5,000 is to be redeemed,the Registrar will issue and deliver to the registered owner thereof, upon surrender of such original Bond, a new Bond or Bonds, in any authorized denomination, in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or mailed by certified mail to the registered owners thereof at the addresses shown on the City's registration books not less than 30 days prior to such redemption date. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Bonds so called for redemption,and that if funds are not available,such redemption shall be cancelled by written notice to the owners of the Bonds called for redemption in the same manner as the original redemption notice was sent. All of such Bonds as to which the City reserves and exercises the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to bear interest on the redemption date. This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly authorized attorney for such registered owner. The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent shall not be affected by any notice to the contrary. And it Is Hereby Certified and Recited that all acts,conditions and things required by the laws and Constitution of the State of Iowa,to exist,to be had, to be done or to be performed precedent to and in the issue of this Bond were and have been properly existent,had,done and performed in regular and due form and time;that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the City for the payment of the principal of and interest on this Bond as the same will respectively become due;that the faith,credit,revenues and resources and all the real and personal property of the City are irrevocably pledged for the prompt payment hereof,both principal and interest;and that the total indebtedness of the City,including this Bond,does not exceed any constitutional or statutory limitations. IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile signature of its Mayor and attested with the duly authorized facsimile signature of its City Clerk,on May 17,2011. CITY OF AMES,IOWA By Mayor Attest: City Clerk Registration Date: May 17,2011 REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the within-mentioned Resolution. CITY TREASURER Ames,Iowa Registrar By a ABBREVIATIONS The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UTMA TEN ENT - as tenants by the entireties (Custodian) JT TEN - as joint tenants with right of survivorship As Custodian for and not as tenants in common (Minor) under Uniform Transfers to Minors Ad (State) Additional abbreviations may also be used though not in the list above. ASSIGNMENT For valuable consideration,receipt of which is hereby acknowled1pd,the undersigned assigns this Bond to (Please print or type name and address of Assignee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE and does hereby irrevocably appoint .Attorney,to transfer this Bond on the books kept for registration thereof with full power of substitution Dated: Signature guaranteed: (Signature guarantee must be provided in a000rdanoe with the prevailing standards and procedures of the Registrar and Transfer Agent Such standards and procedures may require signattues to be guamntwd by certain eligible guarantor institutions that participate in a recognized signature guarantee program.) NOTICE: The signature to this Assignment must correspond with the name of the registered owner as it appears on this Bond in every particular,without alteration or enlargement or any change whatever.