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Home My WebLink AboutA005 - Proposed Schedule of Events 801 Grand Avenue 515-727-5724 Suite 3300 515-243-6994 fax _ Des Moines,IA 50309 www.pfm.com -- -- The I I N'I (;rc,Lll) �v PROPOSED SCHEDULE OF EVENTS CITY OF AMES, IOWA GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2014 S M T W T F S S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6', 7 1 2I 3 4 5 1 2 1 2 3 4 5 6 8 9 10 11 12 13 14 6 7 8 9 10 11 12 3 4 5 6 7 8 9 7 8 9 10 11 12 13 15 16 17 18 19 2 0 121 13 14 15 16 17 18 19 10 11 12 13 14 15 16 14 15 16 17 18 19 20 22 23 24 25 26 27I 28 20 21 22 23 24 25 26 17j 18 19 20 21 22 23 21 22 23', 24 25 26 27 29 30 27 28 29 30 31 24 25 26 27 28 29 30 281 29 30 311 Date Task Description Responsibility June Structure Bonds • Develop Debt Amortization Schedules C, FA • Prepare Sale Details FA June -July Prepare POS • Prepare Preliminary Official Statement C, FA August 12 Council Meeting • Set Sale Date C, FA, BC • Approve POS & Electronic Bidding August 14 Moody's Credit Call • Credit Presentation Conference Call @ 10:30am C, FA, RA August 26 Bond Sale @ 10:00am . Receive Bids (Sealed, Facsimile & Parity Internet C, FA, BC Bid System) August 26 Council Meeting • Presentation of Bids Received C, FA, BC • Award Bonds September 9 Council Meeting • Authorize Issuance Proceedings C, BC September 30 Closing 0 Purchaser delivers Funds C, BC, FA Financing Team Members: C= City of Ames, Iowa BC= Dorsey and Whitney (bond counsel) FA= Public Financial Management, Inc. (financial advisor) RA= Moody's Investors Service (rating agency) SALE DETAILS DATE: July 7,2014 ISSUER: City of Ames Iow -- -- -- ---- BOND NAME: $9 985 000* General Obligation Co orate Purpose Bonds Series 2014 BOND ATTORNEY: Dorsey&Whitney Indivi ua s: ob Josten/Rebecca Donaldson Sale Date: Au ust 26 2014 10.00 Parit Fax Place: City Hall Bid Award: 7:00 PM CT Bonds Dated: September 30,2014 Closing Date: September 30, 2014 Maturity: June 1,as follows: Year Amount* Year Amount* 2015 $800,000 2021 $870,000 2016 810,000 2022 895,000 2017 815,000 2023 925,000 2018 830,000 2024 950,000 2019 845,000 2025 685,000 2020 855,000 2026 705,000 *Principal Adjustment: Preliminary; subject to change. The aggregate principal amount of the Bonds, and each scheduled maturity thereof, are subject to increase or reduction by the City or its designee after the determination of the successful bidder. The City may increase or decrease each maturity in increments of$5,000 but the total amount to be issued will not exceed $10,000,000. Interest rates specified by the successful bidder for each maturity will not change. Final adjustments shall be in the sole discretion of the City. The dollar amount of the purchase price proposed by the successful bidder will be changed if the aggregate principal amount of the Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the successful bidder's net compensation, calculated as a percentage of bond principal. The successful bidder may not withdraw or modify its bid as a result of any post-bid adjustment. Any adjustment shall be conclusive,and shall be binding upon the successful bidder. First Interest: June 1, 2015 and semiannually thereafter. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. Record Date: Close of business on the 15th day of the month (whether or not a business day) immediately preceding such payment date. 7/7/2014 12- A ,� z (� � f q Fw: Sale Details and Schedule of Events for City of Ames, Iowa Series 2014 Bonds 07/08/2014 08:40 AM Duane R Pitcher to: Diane R Voss View: (Mail Threads) Diane, e 5 is an ated There is more information in the n have not changed fromed than you need but previous are ondAug 12 and 26 ule of events r the bond sale. Dates for Councill action and September 9. Let me know if you have any questions. Please note that Susanne Gerlach of PFM is now also now working te regional day t day on our account. Jon Burmeister is still in the Des Moines office but is s. Thanks, Duane Duane Pitcher, CPA, CPFO Director of Finance City of Ames 515 Clark Avenue P.O. Box 811 Ames, Iowa 50010 Phone (515) 239-5114 -----Forwarded by Duane R Pitcher/COA on 07/08/2014 08:33AM ----- To: "Duane R Pitcher(DPitc<er@ ecuam c t I amesia us>h Tina(Stanley (tstanley@"Rogery amles ia.pus)" < rwisecup@city.ames.ia.us) rw P@ Y tstanley@city.ames.ia.us>, "Josten.Robert@dorsey.com" <Josten.Robert@dorsey.com>, " donaidson.rebecca@dorsey.com" <donaldson.rebecca@dorsey.com> From: Susanne Gerlach <GERLACHS@p n Date: 07/07/2014 05:54PM Cc: Jon Burmeister<BURMEISTERJ@pfm.com> Subject: Sale Details and Schedule of Events for City of Ames, Iowa Series 2014 Bonds (See attached file: Sale Details_Ames_la_GO_Corporate_Purpose_Bonds_Series_2014_07-07-2014.pdf Good evening: Attached for your information are Sale Details for the City of Ames, Iowa's issuance of$9,985,000* General Obligation Corporate Purpose Bonds, Series 2014. Please let us know if you have any questions. Thank you! Susanne Susanne Gerlach I Senior Managing Consultant I Public Financial Management I www.pfm.com 801 Grand Avenue I Suite 3300 1 Des Moines, IA 50309 1 Phone: (515) 724-5734 1 Fax: (515) 243-6994 Fax I E-mail: gerlachs@pfm.com `'` Please consider the environment before printing this email and any attachments. Electronic mail sent through the Internet is not secure. Therefore, we cannot represent that the information in this e-mail, and any attachments, is complete, accurate, uncorrupted, timely or free of viruses or that such information will not be intercepted by third parties. This e-mail, and any attachments, contains information that is, or may be, covered by electronic communications privacy laws, and is also confidential and proprietary in nature. If you are not the intended recipient, please be advised that you are legally prohibited from retaining, using, copying, distributing, or otherwise disclosing this information in any manner. Instead, please reply to the sender that you have received this communication in error, and then immediately delete it. Thank you in advance for your cooperation. r� Sale_Deta i Is_Ames_I a_GO_Corporate_Pu rpose_Bonds_Series_2014_07-07-2014.pdf C17Y OF MEMO A m e s Caizng People (Quality Programs•Exceptional Seniee L TO: Steve Schainker, City Manager John Joiner,. Dir tor of Public Works MAY 2 8 2014 FROM: Duane Pitcher, Finance Director - DATE: May 28, 2014 SUBJECT: General Obligation Bonds, Series 2014 We are moving forward with the bond issue scheduled for FY 14/15. Projects funded by the issue include the following: 2014/15 CIP G.O. Issue Flood Mitigation $ 300,000 Resource Recovery Improvements (Abated) 300,000 $300,000 abated by Resource Recovery Collector Street Pavement Improvements 1,205,000 CyRide Route Pavement Improvements 525,000 r Downtown Street Improvements 900,000 Concrete Pavement Improvements 1,655,000 Asphalt/Seal Coat Street Rehabilitation 1,250,000 Arterial Street Pavement Improvements 700,000 Bridge Rehabilitation Program 180,000 Grant Avenue Paving 2,825,000 $2,175,250 abated by Special Assessments Total Debt Issue $ 9,840,000 Please review all your projects and notify me of any changes in the estimated cost or timing of the projects. Provide your input to me by Friday, June 6, 2014. c: Diane Voss, City Clerk Nancy Masteller, Budget Officer Roger Wisecup, Treasurer Bob Kindred, Assistant City Manager IMF- :k:. 'fl Finance Department 515.239.5113 main, 515 Clark Ave.P.{J Sox 811 515.232.5120 Jae fames,!A 50010 Page 1 of 1 RE.G.O.Bond Issue 2014 Susanne Gerlach to: Ibe�Iv-F Lug Duane R Pitcher,Jon Burmeister 06/06/2014 09:21 AM Cc: "josten.robert@dorsey.conl",Diane R Voss,Tina Stanley,Nancy E Masteller,Roger Wisecup,Steve Schainker,Melissa Mundt,Bob Kindred Show Details Ion and I will put t0gltther o schedule of events and sale details for the City's 2014 G.O.Bonds, We will send it out early next week. Thanks&have a great weekend! Susanne Susanne Gerlach I Senior Managing Consultant I Public Financial Management I www.pfm.com 1 801 Grand Avenue I Suite 3300 1 Des Moines, IA 50309 1 Phone:(515)724-5734 1 Fax:(515)243-6994 Fax I E-mail:Rerlachs@pfm.com I APlease Consider the environment before printing this email and any attachments. From:Duane R Pitcher[mailto:DPitcher@citv.ames.ia.us] Sent:Friday,June 06,2014 8:56 AM To:Jon Burmeister;Susanne Gerlach Cc:josten.robert@dorsey.com;Diane R Voss;Tina Stanley;Nancy E Masteller;Roger Wisecup;Steve Schainker;Melissa Mundt;Bob Kindred Subject:G.O.Bond Issue 2014 Jon and Susanne, We are ready to begin the scheduling process for our 2014 G.O.Bond issue. We are looking for a late summer issue. Below are the projects to be funded by the bond issue. Thanks, Duane 2014115 CIP G.O.Issue Flood Mitigation $ 300,000 Resource Recovery Improvements(Abated) 300.000 $300,000 abated by Resource Recovery Collector Street Pavement Improvements 1,205,000 CyRide Route Pavement Improvements 525,000 Downtown Street Improvements 900,000 Concrete Pavement Improvements 1,655,000 Asphalt/Seal Coat Street Rehabilitation 1,250,000 Arterial Street Pavement Improvements 700,000 Bridge Rehabilitation Program 180,000 Grant Avenue Paving 2,825,000 $2,175,250 abated by Special Assessments Total Debt Issue $ 9,840,000 Duane Pitcher,CPA,CPFO Director of Finance City of Ames 515 Clark Avenue P.O.Box 811 Ames,Iowa 50010 Phone(515)239-5114 Electronic mail sent through the Internet is not secure. Therefore, we cannot represent that the information in this e-mail, and any attachm file://C:\Documents and Settings\dianexoss\Local Settings\Temp\notesElEF34\—web6407.... 6/9/2014 Page 1 of 2 t � RE: G.O. Bond Issue 2014 Josten.Robert to: DPitcher, burmeisterj, gerlachs 06/06/2014 09:00 AM Cc: DVoss, tstanley,NMasteller, rwisecup, SSchainker, mmundt, BKindred Show Details These are the projects for which the Council held a hearing on March 4 and approved a debt service levy. Robert E.Josten Partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DORSEY & WHITNEY LLP 801 G <tnc? Suite 100 LJE S �•,J)v!CIeS, [A 50309-8002 P: 51,).283.1 M00 F: 515,283.1060 C: 515.556 8186 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CONFIDENTIAL COMMUNICATION E r<,n; ru r N c n;tr,all� ;unttin ,thclerrh.l w("p;iii '1ccl mto10':0 tocij)wlit. U rst ! rn(,r J tf re..y nt i:, ,i,nihifutl and nw& 1 i V1;4� ,r, i iav" it Vou/;f 1 it")! nor, M'd Pid;.,t 01, o-m'Iil niiil rit/.iJ'n.hi 7a ,:; ', .. i th�lt —mu:d. it) lit ichr'; rt: nn0. yc;tti fherr,^� +rank .,u. From: Duane R Pitcher [mailto:DPitcher@city.ames.ia.us] Sent: Friday, June 06, 2014 8:56 AM To: Jon Burmeister; Susanne Gerlach Cc: Josten, Robert; Diane R Voss; Tina Stanley; Nancy E Masteller; Roger Wisecup; Steve Schainker; Melissa Mundt; Bob Kindred Subject: G.O. Bond Issue 2014 Jon and Susanne, We are ready to begin the scheduling process for our 2014 G.O. Bond issue. We are looking for a late summer issue. Below are the projects to be funded by the bond issue. Thanks, Duane 2014/15 CIP G.O. Issue Flood Mitigation $ 300,000 Resource Recovery Improvements (Abated) 300,000 $300,000 abated by Resource Recovery Collector Street Pavement Improvements 1,205,000 CyRide Route Pavement Improvements 525,000 Downtown Street Improvements 900,000 Concrete Pavement Improvements 1,655,000 Asphalt/Seal Coat Street Rehabilitation 1,250,000 Arterial Street Pavement Improvements 700,000 file://C:\Documents and Settings\diane.voss\Local Settings\Temp\notesElEF34\—web8307.... 6/9/2014 Page 2 of 2 Bridge Rehabilitation Program 180,000 Grant Avenue Paving 2,825,000 $2,175,250 abated by Special Assessments Total Debt Issue $ 9,840,000 Duane Pitcher, CPA, CPFO Director of Finance City of Ames 515 Clark Avenue P.O. Box 811 Ames, Iowa 50010 Phone (515) 239-5114 file://C:\Documents and Settings\diane.voss\Local Settings\Temp\notesElEF34\—web8307.... 6/9/2014 Page 1 of 1 G.O. Bond Issue 2014 Duane R Pitcher to: Jon Burmeister, Susanne Gerlach 06/06/2014 08:56 AM Cc: josten.robert, Diane R Voss, Tina Stanley,Nancy E Masteller, Roger Wisecup, Steve Schainker, Melissa Mundt, Bob Kindred Show Details Jon and Susanne, We are ready to begin the scheduling process for our 2014 G.O. Bond issue. We are looking for a late summer issue. Below are the projects to be funded by the bond issue. Thanks, Duane 2014/15 CIP G.O. Issue Flood Mitigation $ 300,000 Resource Recovery Improvements (Abated) 300,000 $300,000 abated by Resource Recovery Collector Street Pavement Improvements 1,205,000 CyRide Route Pavement Improvements 525,000 Downtown Street Improvements 900,000 Concrete Pavement Improvements 1,655,000 Asphalt/Seal Coat Street Rehabilitation 1,250,000 Arterial Street Pavement Improvements 700,000 Bridge Rehabilitation Program 180,000 Grant Avenue Paving 2,825,000 $2,175,250 abated by Special Assessments Total Debt Issue $ 9,840,000 Duane Pitcher, CPA, CPFO Director of Finance City of Ames 515 Clark Avenue P.O. Box 811 Ames, Iowa 50010 Phone (515) 239-5114 file://C:\Documents and Settings\diane.voss\Local Settings\Temp\notesElEF34\—web7617.... 6/9/2014