HomeMy WebLinkAboutA032 - Resolution No. 12-444 adopted August 14, 2012 Mary Greeley,418663-44,Set Date
4848-8707-0224\2
RESOLUTION NO. 12-444
To fix a date for a public hearing on the proposal to issue hospital revenue bonds
or notes in a principal amount not to exceed $26,000,000 for the purpose of
financing and refinancing improvement projects for Mary Greeley Medical Center
WHEREAS, heretofore in the year 1916, the Mary Greeley Memorial Hospital (now
known as the Mary Greeley Medical Center and hereinafter sometimes referred to as the
"Hospital") was established in and for the City of Ames, Iowa (the "City") by lawful acceptance
of a conditional gift of certain real estate and the then existing hospital facility, deeded to the
City by Mr. W. M. Greeley; and
WHEREAS, the Board of Trustees of the Hospital (the "Board") has requested the City
to issue its hospital revenue bonds or notes (Mary Greeley Medical Center Project), in one or
more series, in the aggregate principal amount of not to exceed $26,000,000 (the "Bonds") for
the purpose of (1) financing a portion of the costs of the Hospital's improvement projects to
acquire, construct, equip, furnish, expand and remodel portions of its existing hospital facilities,
including a new patient tower, a new support service building, a new main entrance, an expanded
emergency room department, related land/site improvements thereto, and other improvements to
the hospital facilities, all located at 1111 Duff Ave, Ames, Iowa (the "Project"); (2)refunding the
City's Hospital Revenue Refunding Bonds (Mary Greeley Medical Center), Series 2003 (the
"Prior Bonds"); (3) funding necessary reserve funds for the Bonds; and (4) funding issuance
expenses for the Bonds; and
WHEREAS, it is necessary to fix a date of meeting of this City Council at which it is
proposed to take action to issue the Bonds and to give notice thereof as required by such law; and
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. This City Council shall meet on the llth day of September, 2012, at the
Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at seven o'clock p.m., at which
time and place a hearing will be held and proceedings will be instituted and action taken for
issuance of the Bonds.
Section 2. The City Clerk is hereby directed to give notice of the proposed action for
the issuance of the Bonds setting forth the amount and purpose thereof, the time when and place
where the said meeting will be held by publication at least once and not less than 4 nor more than
20 days before the meeting, in a legal newspaper of general circulation in the City.
Section 3. The notice shall be in substantially the following form:
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