HomeMy WebLinkAboutA033 - Letter to Dorsey & Whitney dated July 15, 2015 r e
CITY OF
Ames"
Smart Choice
July 15, 2015
Dorsey & Whitney LLP
801 Grand, Suite 4100
Des Moines, Iowa 50309
Attention Robert E. Josten
RE: General Obligation Corporate Purpose and Refunding Loan Agreement/Hearing on
Increased Principal Amount
Your File No. 419370-55
Dear Mr. Josten:
Enclosed please find the fully executed proceedings from the City Council meeting held July 14,2015,
as follows:
1. Minutes of the July 14th Council meeting covering the hearing.
2. Resolution No. 15-449 Authorizing an Increase in the Amount of the Loan Agreement.
3. Signed Certificate attesting the transcript.
If you have any questions, please call. Thank you for your assistance.
Sincerely,
Diane R. Voss, City Clerk
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Enclosures
Ames419370-55/2015 Hrng IncrsdAmt
HEARING ON INCREASED PRINCIPAL
AMOUNT 2015 GENERAL OBLIGATION
LOAN AGREEMENT
419370-55
Ames, Iowa
July 14, 2015
The City Council of the City of Ames, Iowa, met on July 14, 2015, at 7:00 o'clock p.m.,
at the City Hall Council Chambers, Ames, Iowa.
The meeting was called to order by the Mayor, and the roll being called, the following
named Council Members were present and absent:
Present: Betcher, Gartin, Goodman,Nelson, Orazem
Absent: Corrieri
The City Council investigated and found that a notice of intention to hold a hearing on
increasing the principal amount of a General Obligation Loan Agreement to $21,345,000 for the
purpose of paying the cost, to that extent, of constructing public improvements and of refunding
the outstanding balance of the City's General Obligation Corporate Purpose Bonds, Series
2006A and Series 2007A, had been duly published as provided by law and that this is the time
and place at which the Council shall receive oral or written objections from any resident or
property owner of the City.
The City Clerk announced that no written objections had been placed on file.
Whereupon, the Mayor called for any written or oral objections, and there being none, the Mayor
announced that the City Council may authorize the loan agreement in the amount as published.
Council Member Nelson introduced the resolution next hereinafter set out, and moved its
adoption, seconded by Council Member Goodman. After due consideration and discussion, the
Mayor put the question upon the adoption of said resolution, and the roll being called, the
following Council Members voted:
Ayes: Betcher, Gartin, Goodman,Nelson, Orazem
Nays: None
Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out.
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DORSEY & WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-55/2015 Hrng IncrsdAmt
RESOLUTION NO. 15-449
Resolution authorizing increased amount of Loan Agreement
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")
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 carrying out 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
WHEREAS, it has been determined that the maximum principal amount of the Loan
Agreement should be increased to $21,345,000, and the City has published notice of the
proposed action and has held a hearing thereon;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Council hereby expresses its intention to enter into the Loan
Agreement, in an amount not to exceed $21,345,000, and to issue bonds at such time as funds are
needed, and the Council hereby declares that this resolution constitutes the additional action
required by Chapter 384 of the Code of Iowa.
Section 2. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved July 14, 2015.
Mayor
Attest:
C�a
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS,DES MOINES,IOWA
Ames419370-55/2015 Hrng IncrsdAmt
On motion and vote, the meeting adjourned.
�i
Mayor
Attest:
City Clerk
DORSEY &WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames4 193 7 0-5 5/2 0 1 5 Hrng InersdAmt
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
I, the undersigned, City Clerk of the City of Ames, do hereby certify that as such I have
in my possession or have access to the complete corporate records of the City and of its Council
and officers and that I have carefully compared the transcript hereto attached with those
corporate records and that the transcript hereto attached is a true, correct and complete copy of
all the corporate records relating to the authorization of an increased principal amount of a loan
agreement related to the City's $21,345,000 General Obligation Corporate Purpose and
Refunding Bonds, and that the transcript hereto attached contains a true, correct and complete
statement of all the measures adopted and proceedings, acts and things had, done and performed
up to the present time with respect thereto.
WITNESS MY HAND this day of �� , 2015.
City Clerk
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DORSEY & WHITNEY LLP, ATTORNEYS,DES MOINES,IOWA