HomeMy WebLinkAboutA007 - Resolution No. 13-041 adopted February 12, 2013 Ames419370-48/Se1Hrng2013 GO LA
RESOLUTION NO. 13-041
Resolution to fix a date for a public hearing on a loan agreement in a principal
amount not to exceed $10,000,000
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to
enter into a General Obligation Corporate Purpose Loan Agreement(the "Loan Agreement") in a
principal amount not to exceed $10,000,000, pursuant to the provisions of Section 384.24A of
the Code of Iowa, for the purpose of paying the cost, to that extent, of constructing
improvements to streets and solid waste disposal facilities, and of 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 it is necessary to fix a
date of meeting of the City Council at which it is proposed to take action to enter into the Loan
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:
Section 1. The City Council shall meet on the 26th day of February, 2013, at the City
Council Chambers, 515 Clark Avenue, Ames, Iowa, 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
Loan Agreement.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the Loan 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 4 nor more than
20 days before the date of said meeting, in a legal newspaper which has a general circulation in
the City. The notice shall be in substantially the following form:
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Ames419370-48/SetHmg2013 GO LA
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NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $10,000,000
(GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING)
The City Council of the City of Ames, Iowa, will meet on the 26th day of February, 2013,
at the City Council Chambers, 515 Clark Avenue, Ames, Iowa, at seven o'clock p.m., for the
purpose of holding a hearing and taking action to enter into a loan agreement (the "Loan
Agreement") in a principal amount not to exceed S 10,000,000 for the purpose of paying the cost,
to that extent, of constructing improvements to streets and solid waste disposal facilities and of
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.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 384.24A of the Code of Iowa and will constitute a general obligation of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Loan Agreement. After receiving objections, the City may determine to enter into
the Loan 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
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Ames419370-48/SetHmg2013 GO LA
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Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved February 12, 2013.
Mayor
Attest:
City Cleric
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