HomeMy WebLinkAboutA030 - Resolution No. 12-443 adopted August 14, 2012 Ames419370-46/Auth POS/SetSale
RESOLUTION NO. 12-443
Setting date for sale of General Obligation Corporate Purpose Bonds and
authorizing the use of a preliminary official statement in connection with the sale
of the Bonds
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, has
heretofore proposed to enter into a General Obligation Loan Agreement (the "Loan Agreement")
in a principal amount not to exceed $13,215,000, pursuant to the provisions of Section 384.24A
of the Code of Iowa, for the purpose of paying the cost, to that extent, of constructing
improvements to streets, water and sanitary sewer lines; carrying out flood mitigation projects;
rehabilitating city parks; replacing a city park bicycle/pedestrian bridge that was damaged by
flooding and expanding the Ames Public Library, and has published notice of the proposed
action and has held a hearing thereon; and
WHEREAS, the City proposes to offer for sale its General Obligation Corporate Purpose
Bonds, Series 2012, in the principal amount of$13,215,000 (the "Bonds"); and
WHEREAS, a Preliminary Official Statement (the "Preliminary Official Statement") has
been prepared to facilitate the sale of the Bonds and it is now necessary to make provision for
the approval of the Preliminary Official Statement and to authorize its use by Public Financial
Management, Inc.;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 28th day of August, 2012, at 11 o'clock a.m. at the City Hall is hereby
set as the deadline for submitting bids for the sale of the Bonds, and the City Council will meet
on the same date to review the bids received and to take action to award the sale of the Bonds.
Section 2. The use by Public Financial Management, Inc. of the Preliminary Official
Statement relating to the Bonds, in substantially the form as has been presented to and
considered by the City Council, is hereby approved, and Public Financial Management, Inc. is
hereby authorized to prepare and use a final Official Statement for the Bonds substantially in the
form of the Preliminary Official Statement, but with such changes therein as are required to
conform the same to the terms of the Bonds and, when adopted, the resolution authorizing the
issuance of the Bonds and the City Clerk is hereby authorized and directed to execute a final
Official Statement for the Bonds, if requested. The Preliminary Official Statement as of its date
is deemed final by the City within the meaning of Rule 15(c)(2)-12 of the Securities and
Exchange Commission.
Section 3. Pursuant to Section 75.14 of the Code of Iowa, the City Council hereby
authorizes the use of electronic bidding procedures for the sale of the Bonds through PARITY",
and hereby finds and determines that the PARITY0 competitive bidding system will provide
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Ames419370-46/Auth POS/SetSale
reasonable security and maintain the integrity of the competitive bidding process and will
facilitate the delivery of bids by interested parties under the circumstances of this bond sale.
Section 4. 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 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 14, 2012.
Mayor
Attest:
Lig"11
City Clerk
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Ames419370-46/Auth POS/SetSale
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 setting a date for sale
of bonds and the approval of an official statement, as referred to herein.
WITNESS MY HAND this 14 day of August, 2012.
City Clerk
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