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HomeMy WebLinkAboutA015 - Minutes dated April 23, 2013 and Resolution 13-165 setting date for sale E "00 " Ames419370-48/Auth POS/SetSale MINUTES TO SET DATE FOR SALE AND APPROVE OFFICIAL STATEMENT FOR 2013 BONDS 419370-48 Ames, Iowa April 23, 2013 The City Council of the City of Ames, Iowa, met on April 23, 2013, at seven o'clock p.m., at the City Hall Council Chambers, Ames, Iowa. The meeting was called to order by the Mayor, and the roll was called showing the following members of the City Council present and absent: Present: Davis, Goodman, Larson, Orazem, Szopinski, Wacha Absent: None It was reported that the City's financial advisor, Jon Burmeister of Public Financial Management, had prepared certain documentation related to the sale by the City of its General Obligation Corporate Purpose and Refunding Bonds, Series 2013, and that it was necessary for the Council to adopt a resolution setting the date for the sale of those bonds. After due consideration and discussion, Council Member Goodman introduced the following resolution and moved its adoption, seconded by Council Member Orazem. The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Council Members voted: Ayes: Davis, Goodman, Larson, Orazem, Szopinski, Wacha Nays: None Whereupon, the Mayor declared the resolution duly adopted, as hereinafter set out. • • • • �e City Council adjourned. At the conclusion of the meeting and upon motion and vote, the y ,1 J�t4--w co'• Mayor Attest: City Clerk -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA r a" Ames419370-48/Auth POS/SetSale RESOLUTION NO. 13-165 Setting date for sale of General Obligation Corporate Purpose and Refunding Bonds, Series 2013, 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"), 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 and solid waste disposal facilities, expanding the Ames Public Library, and refunding the outstanding balances of the City's General Obligation Corporate Purpose Bonds, Series 2004, and General Obligation Corporate Purpose and Refunding Bonds, Series 2005A, 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 and Refunding Bonds, Series 2013, in the principal amount of$23,365,000 (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 14th day of May, 2013, at 10 o'clock a.m. 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 PARITY12, and hereby finds and determines that the PARITY a competitive bidding system will provide 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. -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-48/Auth POS/Setsale 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 April 23, 2013. 444eo- Lev Mayor Attest: City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA fi w. Ames419370-48/Auth POS/SetSale STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Cleric 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 23 day of April, 2013. City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA