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Home My WebLink AboutA047 - Proceedings of October 13, 2009 Ames/419370-42/1"'/Z-Water Rev MINUTES TO SET DATE FOR HEARING ON ENTERING INTO A LOAN AND Please Return To: DISBURSEMENT AGREEMENT DORSEY & WHITNEY ATT06 NIEYS AT LAW 419370-42 (N/I) 801 Gy end, Fuate 3^00 Des hAclnes, Iowa 50309 Ames, Iowa October 13, 2009 The City Council of the City of Ames, Iowa, met on OcWber 3, 2009, at seven o'clock __p.m., at the Council Chambers , in the City. The Mayol/preosi eR and the roll was called showing the following members of the Council present and absent: Present: Doll, Goodman, Larson, Mahayni, Po ken, Rice Absent: None Council Member Doll introduced a resolution hereinafter next set out and moved its adoption, seconded by Council Member Goodman ; and after due consideration thereof by the 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: Doll, Goodman, Larson, Mahayni, Popken, Rice Nays: None Whereupon, the Mayor declared the resolution duly adopted as follows: -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/41937042/1'%-Water Rev RESOLUTION NO. 09-497 To fix a date for a public hearing on a Water Revenue Loan and Disbursement Agreement WHEREAS, the City of Ames (the "City"), in the County of Story, State of Iowa, did heretofore establish a Municipal Waterworks System (the"Utility")in and for the City which has continuously supplied water and water service in and to the City and its inhabitants since its establishment; and WHEREAS, the management and control of the Utility are vested in the City Council (the "Council") and no board of trustees exists for this purpose; and WHEREAS, the City now proposes to enter into a Water Revenue Loan and Disbursement Agreement (the "Agreement") with the Iowa Finance Authority under the State Revolving Fund loan program, in a principal amount not to exceed $6,249,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Utility, and it is necessary to fix a date of meeting of the Council at which it is proposed to take action to enter into the Agreement and to give notice thereof as required by such law; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as follows: Srction 1. 1 C u 01 shall meet on the 27th day of October, 2009, at the aCity 51 GIar We , utLI &ambers , in`the�iTy, at seven o'clock _p_.m., at which time and place a hearing will be held and proceedings will be instituted and action taken to enter into the Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Agreement 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 four nor more than twenty days before the meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA 1 r Ames/419370-42/1'%:-Water Rev NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,249,000 (WATER REVENUE) dhe �t ClCouncil o �t c Ames, Iowa, will meet on the 27th day of October, 2009, at the u ici� ChambersA �� ii-AR Ity, at seven o'clock __p_.m., for the purpose of instituting proceedings and taking action to enter into a loan and disbursement agreement (the "Agreement") with the Iowa Finance Authority under the State Revolving Fund loan program, and borrow money in a principal amount not to exceed $6,249,000, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Municipal Waterworks System. The Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation, but, together with any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Municipal Waterworks System of the City. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter. By order of the City Council of the City of Ames, Iowa. Diane Voss City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA t Ames/419370-42/1n'/z-Water Rev Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved October 13, 2009. Mayor Pro-Tem Attest: CIO1; City Clerk On motion and vote, the meeting adjourned. ?� CL-CL G ^M ezlnct Mayor pro-Tem Attest: City Clerk -4- DORSEY& WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-42/1''/s-Water Rev STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, Clerk of the City of Ames, Iowa, 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 a Water Revenue Loan and Disbursement Agreement. WITNESS MY HAND this_ 13 day of 0CJ-Vk-P-1K 2009. -V City Clerk -5- DORSEY&WHITNEY LLP ATTORNEYS DES MOINES IOWA Ames/419370-42/1'%2-Water Rev STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES 1, the undersigned City Clerk, do hereby certify that the City of Ames, Iowa, is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that such City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named. And I do further certify that the following named parties are officials of the City as indicated: Ann H. Campbell Mavor Steven L. Schainker City Manager Diane R. Voss City Clerk Duane Pitcher City Finance Director Roger Wisecup City Treasurer Riad Mahayni Council Member/Mayor Pro-Tem Ryan Doll Council Member Matthew Goodman Council Member Jami Larson Council Member Jim Popken Council Member Dan Rice Council Member WITNESS MY HAND this 13 day of October , 2009. AityClerk -6- DORSEY& WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-42/1"/2-Water Rev STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa (the "City"), do hereby certify that the City established the Municipal Waterworks System (the "Utility") prior to January 1, 1961, and that the Utility has been in continuous operation by the City since its establishment in supplying water and water service to the City and its inhabitants. I further certify that the management and control of the Utility are vested in the Council of the City, and that no board of trustees exists which has any part of the control and management of such Utility. I further certify that the City has no bonds or other obligations of any kind now outstanding which are secured by and payable from the revenues derived from the operation of the Utility, except as follows: Date Type Amount Maturity (Attach here a separate sheet listing any other outstanding obligations of the City secured by and payable from the revenues of the Utility excluding the proposed issue.) I further certify that the annual earnings and annual operating expenses in connection with the operation of the Utility for each of the years indicated have been as follows: Operation and Net Revenues from Maintenance Expenses Operation Before Fiscal (do not include Bond Payment of Capital Year Debt Service and Capital Expenditures and Bond Capital Bond Debt Ending Gross Revenues Expense Items) Debt Service Expenditures Service 2007 $ `� 7 o� $ i $ 3;7 $�53 $ 92 2007 *W- - 6 g $ S- $ g q /3 $2008 Spa $ zoo9 $� � $ s 7 $� 3S $-��us+ I do further certify that the rates which were in effect for services furnished to customers by the Utility during the aforementioned fiscal years were as follows: (Attach here a copy of each of the rate schedules in effect during such fiscal years). -7- DORSEY& WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-42/1 Water Rev I further certify that the budgeted annual earnings and annual operating expenses in connection with the operation of the Utility for the Fiscal Year ending June 30, 2010 are as follows: Operation and Net Revenues from Maintenance Expenses Operation Before Fiscal (do not include Bond Payment of Capital Year Debt Service and Capital Expenditures and Bond Capital Bond Debt Ending Gross Revenues Expense Items) Debt Service Expenditures Service 2010 $ �s6 7� $ Sq� $� g78� $ a��,v�C� $ 37��v` &' I do further certify that attached hereto is a tnie, correct and complete copy of the present rate ordinance for the Utility. (cA*+iu h aha�i� u ov"y of thn ao.Bali i an i i.^atp vrdin aLcpl. WITNESS MY HAND this 19 day of OC fZ bL/ / , 2009. City Clerk -8- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA