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Home My WebLink AboutA048 - Letter to Dorsey & Whitney dated April 13, 2016, refunding bonds CITY OF Ames , Smart Choice April 13, 2016 Dorsey & Whitney LLP 801 Grand, Suite 4100 Des Moines, Iowa 50309 Attention Cristina Kuhn RE: Mary Greeley Medical Center Revenue Refunding Bonds Your File No. 418663-44 Dear Ms. Kuhn: Enclosed please find the fully executed proceedings setting April 26, 2016, as the date of public hearing on the proposal to issue Hospital Revenue Refunding Bonds in a principal amount not to exceed $68,000. The Notice of Hearing has been sent to the Ames Tribune for publishing on April 19, 2016. When I receive the Affidavit of Publishing, same will be sent to you. If you have any questions, please call. Thank you for your assistance. Sincerely, Diane R. Voss City Clerk /dry Enclosure , Mary Greeley,418663-44,Set Date 4852-9451-1406\3\418663\00049 MINUTES TO SET DATE FOR HEARING ON REVENUE REFUNDING BONDS OR NOTES Ames, Iowa April 12, 2016 The City Council of the City of Ames, Iowa, met on the above date, at 6:00 o'clock p.m., at the City Hall, Ames, Iowa. The Mayor presided and the roll was called showing the following Council Members present and absent: Present: Beatty-Hansen, Betcher, Corrieri, Gartin, Nelson, Orazem Absent: None. After discussion of other matters, the Council took up and considered the proposal to issue hospital revenue refunding bonds or notes to refund prior bonds issued for the benefit of Mary Greeley Medical Center. Whereupon Council Member Beatty-Hansen introduced a resolution hereinafter next set out and moved its adoption, seconded by Council Member Corrieri; and after due consideration thereof by the City Council, the Mayor put the question upon the adoption of the said resolution and the roll being called, the following named Council Members voted: Ayes: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem Nays: None. Whereupon, the Mayor declared the resolution duly adopted as follows: - 1 - Mary Greeley,4 1 8663-44,Set Date 4852-9451-1406\3\418663\00049 RESOLUTION NO. 16-157 To fix a date for a public hearing on the proposal to issue hospital revenue refunding bonds or notes in a principal amount not to exceed $68,000,000 for the purpose of refunding prior bonds issued to finance 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 refunding bonds or notes (Mary Greeley Medical Center Project), in one or more series, in the aggregate principal amount of not to exceed $68,000,000 (the "Bonds") for the purpose of (1) refunding the City's Hospital Revenue Bonds (Mary Greeley Medical Center), Series 2011 (the "Prior Bonds"); (2) funding any necessary reserve funds for the Bonds; and (3)paying 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 26th day of April, 2016, at the Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at 6:00 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: - 2 - Mary Greeley,418663-44,Set Date 4852-9451-1406\3\418663\00049 NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR ISSUANCE OF HOSPITAL REVENUE REFUNDING BONDS OR NOTES The City Council of the City of Ames, Iowa, will meet on the 26th day of April, 2016 at the Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at 6:00 o'clock p.m., for the purpose of instituting proceedings and taking action for the issuance of hospital revenue refunding bonds or notes, in one or more series, in an amount not to exceed $68,000,000 (the "Bonds") for the benefit of Mary Greeley Medical Center (the "Hospital") for the purpose of(1) refunding the City's Hospital Revenue Bonds (Mary Greeley Medical Center), Series 2011 (the "Prior Bonds"); (2) funding any necessary reserve funds for the Bonds; and (3) paying issuance expenses for the Bonds. The Bonds will not constitute general obligations of the City, nor will they be payable in any manner by taxation, but will be payable from the net revenues of the Hospital and any reserve funds established for the payment thereof and will rank on a parity with any loan agreement, bonds, notes or other obligations heretofore or hereafter issued by the City which are payable from such sources. The Bonds are proposed to be issued pursuant to authority contained in Division V of Chapter 384 of the Code of Iowa. At the aforementioned time and place, oral or written objections may be filed or made to the proposal to issue the Bonds. After receiving objections, the City may take action for the issuance of the Bonds, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter. Written objections may be filed with the City Clerk prior to such meeting at City Hall, 515 Clark Avenue, Ames, Iowa 50010. By order of the City Council of the City of Ames, Iowa. City Clerk - 3 - Mary Greeley,418663-44,Set Date 4852-9451-1406\3\418663\00049 Section 4. All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed to the extent of such conflict. Passed and approved April 12, 2016. Mayor Attest: City Clerk * * *Other Business* After the discussion of other business, on motion and vote, the meeting adjourned. Mayor Attest: �•(�J��Ylsl1' 1 ��-� City Clerk - 4 - Mary Greeley,418663-44,Set Date 4852-9451-1406\3\418663\00049 STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the aforementioned City, do hereby certify that attached hereto is a true and correct copy of the proceedings of the City Council relating to fixing a date for hearing on the City Council's proposal to take action in connection with the issuance of hospital revenue refunding bonds or notes as referred to therein. WITNESS MY HAND and the seal of the City hereto affixed this 12th day of April, 2016. City Clerk (Seal) - 5 -