The URL can be used to link to this page

Home My WebLink AboutA031 - Letter to Dorsey & Whitney dated June 24, 2015 CITY OF AOW A m e s- Smart Choice June 24, 2015 Dorsey & Whitney LLP 801 Grand, Suite 4100 Des Moines, Iowa 50309 Attention Robert E. Josten RE: Ames, Iowa 2015-16 General Obligation Corporate Purpose and Refunding Loan Your File No. 419370-55 Dear Mr. Josten: Enclosed please find the fully executed proceedings from the City Council meeting held June 23, 2015, pertaining to setting the hearing date for the increased amount of the 2015-16 General Obligation and Refunding Bonds. The Notice of Hearing has been sent to the Ames Tribune for publication on July 7, 2015. As soon as the Proof of Publication is sent to me, I will forward same to you. If you have any questions, please call. Thank you for your assistance. Sincerely, f Diane R. Voss City Clerk /dry Enclosure Ames419370-55/SetHrngIncrease2015-16 GO LA MINUTES TO SET DATE FOR HEARING ON INCREASED AMOUNT 2015-16 GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING LOAN AGREEMENT 419370-55 Ames, Iowa June 23, 2015 The City Council of the City of Ames, Iowa, met on June 23, 2015, at 7:00 o'clock p.m., at the City Hall Council Chamber, in the City. The Mayor presided and the roll was called showing the following members of the City Council present and absent: Present: Betcher, Corrieri, Gartin, Goodman,Nelson, Orazem Absent: None. Council Member Goodman introduced the resolution hereinafter next set out, setting a date for hearing on increasing the principal amount of a 2015-16 general obligation corporate purpose and refunding loan agreement, and moved its adoption, seconded by Council Member Betcher ; and after due consideration thereof by the City Council, the Mayor put the question upon the adoption of the said resolution and the roll being called, the following named Council Members voted: Ayes: Betcher, Corrieri, Gartin, Goodman,Nelson, Orazem Nays: None. Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. . . . . . At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. V / Mayor Attest: ��, ) �,T City Clerk -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-55/SetHrngIncrease2015-16 GO LA RESOLUTION NO. 15-374 Resolution to fix a date for a public hearing on increasing the principal amount of a loan agreement by $395,000 WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, has proposed to enter into a General Obligation Corporate Purpose and Refunding Loan Agreement (the "Loan Agreement") in a principal amount not to exceed $20,950,000, 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 street, water main, sanitary and storm sewer, bridge, and related improvements; of constructing a new municipal airport terminal building, of flood mitigation and remediation, and of refunding the outstanding balances of the City's General Obligation Corporate Purpose Bonds, Series 2006A and General Obligation Corporate Purpose Bonds, Series 2007A and has published notice and held a hearing thereon; and WHEREAS, it has been determined that the amount of the Loan Agreement should be increased by $395,000, to a total of$21,345,000, and it is necessary to fix a date of meeting of the City Council at which it is proposed to approve the increased amount of 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 14th day of July, 2015, at the City Hall Council Chamber, Ames, Iowa, at 6:00 o'clock p.m., at which time and place a hearing will be held and proceedings will be instituted and action taken to approve an increase in the Loan Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed action on increasing the amount of 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: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-55/SetHrngIncrease2015-16 GO LA NOTICE OF PUBLIC HEARING ON INCREASING PRINCIPAL AMOUNT OF LOAN AGREEMENT (GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING) The City Council of the City of Ames, Iowa, will meet on the 14th day of July, 2015, at the City Hall Council Chamber, 515 Clark Avenue, Ames, Iowa, at 6:00 o'clock p.m., for the purpose of holding a hearing and taking action to approve an increase of $395,000 in the principal amount of a loan agreement (the "Loan Agreement") to produce a total principal amount of $21,345,000, for the purpose of paying the cost, to that extent, of constructing street, water main, sanitary and storm sewer, bridge, and related improvements; of constructing a new municipal airport terminal building, of.flood mitigation and remediation and of refunding the outstanding balances of the City's General Obligation Corporate Purpose Bonds, Series 2006A and General Obligation Corporate Purpose Bonds, Series 2007A. The increase in the principal amount of the Loan Agreement is proposed to be approved 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 increase the principal amount of the Loan Agreement. After receiving objections, the City may determine to approve an increase in the principal amount of 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 DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-55/SetHrnglncrease2015-16 GO LA Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved June 23, 2015. Mayor Attest: City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-55/SetHrnglncrease2015-16 GO LA STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk 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 fixing a date for a hearing on the City Council's proposal to increase the principal amount of a loan agreement, as referred to therein. WITNESS MY HAND this 23rd day of June, 2015. City Clerk -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA