HomeMy WebLinkAboutA021 - Loan Agreement dated May 30, 2013 - $22,540,000 LOAN AGREEMENT
This Loan Agreement is entered into as of May 30, 2013, by and between the City of Ames, Iowa (the
"City"),and J.P.Morgan Securities LLC,New York,New York (the"Purchaser"). The parties agree as follows:
1. The Purchaser shall loan to the City the sum of$22,540,000, and the City's obligation to repay
hereunder shall be evidenced by the issuance
of 0e000 General Obligation
i°gation"Bonds)Corporate Purpose and Refunding Bonds,Series
2013 in the aggregate principal amount of
2. The City adopted a resolution on May 14,2013 (the"Resolution")authorizing and approving this
Loan Agreement and providing for the issuance of the Binnthe Resolution. The Resolution isds and the levy of taxes to pay hm orporated herein
e principal of and
interest on the Bonds for the purpose or purposes set forth
by reference, and the parties agree to abide by the terms and provisions of the Resolution. In and by the taxable property within the ReCity
solution,
provision has been made for the levy d mterest on the Bond sufficient s asthe same will rnnual tax on e pect vely become due,and the City
for the payment of the principal o
has irrevocably pledged the faith,credit,revenues and resources and all the real and personal property of the City for
the full and prompt payment of the principal of and interest on the Bonds.
set d and
3. The Bonds, in substantially C e form
o obligation r to repa in the y thelamoun s payable herution,shall be eunderr.delivered
Bonds
or on behalf of the Purchaser to evidenceh
shall be dated May 30, 2013, shall b in denoes minations
of o $5,000 or integral u
be subject tolppepayment prior tobmaturityrand
shall be payable as to principal on the
shall contain such other terms and provisions as provided in the Bonds and the Resolution.
4. This Loan Agreement is executed pursuant to the provisions of Section 384.24A of the Code of
Iowa and shall be read and construed as conforming to all provisions and requirements of the statute.
IN WITNESS WHEREOF,we have hereunto affixed our signatures all as of the date first above written.
CITY OF AMES,IOWA
Y
Mayor
Attest:
City Clerk
J.P.MORGAN SECURITIES LLC,
New York,New York
By
(Signature)
(Print Name and Title)