HomeMy WebLinkAboutA085 - Resolution No. 14-629 adotped December 9, 2014 Ames/419370-42/2nd'/z Hrg Only Water Rev.
RESOLUTION NO. 14-629
Declaring intent to enter into 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") 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, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
has heretofore proposed to enter into a Water Revenue Loan and Disbursement Agreement (the
"Agreement") and to issue Bonds (the "Bonds") in evidence thereof in a principal amount not to
exceed $76,606,000, for the purpose of paying the cost, to that extent, of planning, designing and
constructing improvements and extensions to the Utility, and has published notice of the
proposed action and has held a hearing thereon on December 9, 2014;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Council hereby declares its intent to enter into the Agreement in the
future and orders the Water Revenue Bonds to be issued at such time in evidence thereof. The
Council further declares that this resolution constitutes the "additional action" required by
Section 384.24A of the Code of Iowa.
Section 2. 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of this resolution, to the extent of such conflict, are hereby repealed.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 3. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved December 9, 2014.
Mayor
Attest:
City Clerk
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES, IOWA