HomeMy WebLinkAboutA001 - Emails between Robert Josten and City in January, 2016 Page 1 of 3
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RE: Possible re-levy resolution? ^-�"�
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Josten.Robert —@
to:
DPitcher
01/22/2016 12:36 PM
Cc:
gerlachs, rwisecup, tstanley,NMasteller, aburton, DVoss
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From: <Josten.Robert@dorsey.com> Sort List...
To: <DPitcher@city.ames.ia.us>
Cc: <gerlachs@pfm.com>, <rwisecup@city.ames.ia.us>, <tstanley@city.ames.ia.us>,
<NMasteller@city.ames.ia.us>, <aburton@city.ames.ia.us>, <DVoss@city.ames.ia.us>
S. T that may be adopted by the Ames city council on February 9 in order to set
March 1 as the date for a public h aring on a general obligation loan agreement in an amount not to exceed
$ ,95 45,000, plus whatever amount Susanne determines should be added for costs of issuance. Then,for the
meeting to be held on March 1, I will prepare a resolution showing the hearing has been held and approving a
debt service "pre-levy" in the amount of$602,000.
Robert E.Josten
Partner
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DORSEY & WHITNEY LLP
801 Grand Suite 4100
Des Moines, IA 50309-8002
P: 515.283.1000 F: 515.283.1060 C: 515.556,8186
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material,and are for the sole use of the intended recipient.
Use or distribution by an unintended recipient is prohibited,and may be a violation of law. If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof,and inform the sender that you have deleted the e-mail,all attachments and any copies thereof.
Thank you.
From: Duane R Pitcher [mai Ito:DPitcher(d)city.am es.ia.us]
Sent: Friday, January 22, 2016 12:25 PM
To: Josten, Robert
Cc: gerlachs@pfm.com; Roger Wisecup; Tina Stanley; Nancy E Masteller; Ashley Burton; Diane R Voss
Subject: Re: Possible pre-levy resolution?
Bob,
Yes, we will be having a pre-levy again this year. Bond issue will be as follows:
2016/2017 CIP G.O. ISSUE
Flood Mitigation $ 500,000
Storm Water Erosion Control 250,000
Asphalt Street Improvements 1,250,000
Grand Avenue Extension 1,300,000
Concrete Pavement Improvements 1,050,000
Arterial Street Pavement Improvements 345,000
Downtown Street Improvements 375,000
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—webI812.htm 1/25/2016
Page I of 2
Re: Possible pre-levy resolution?
Duane R Pitcher
to:
Josten.Robert
01/22/2016 12:25 PM
Cc:
gerlachs, Roger Wisecup, Tina Stanley, Nancy E Masteller, Ashley Burton, Diane R Voss
I-Iide Details
From: Duane R Pitcher/COA Sort List...
To: <Josten.Robert@dorsey.com>
Cc: <gerlachs@pfm.com>, Roger Wisecup/COA@COA, Tina Stanley/COA@COA,Nancy E
Masteller/COA@COA, Ashley Burton/COA a COA, Diane R Voss/COA@COA
Bob,
Yes, we will be having a pre-levy again this year. Bond issue will be as follows:
2016/2017 CIP G.O. ISSUE
Flood Mitigation $ 500,000
Storm Water Erosion Control 2501000
Asphalt Street Improvements 1,250,000
Grand Avenue Extension 11300,000
Concrete Pavement Improvements 1,050,000
Arterial Street Pavement Improvements 345,000
Downtown Street Improvements 375,000
CyRide Route Improvements 525,000
Bridge Rehabilitation Program 350,000
Tax Supported Bonds $ 5,945,000
All projects are streets, bridges, sewers. Will need to include issuance cost.
Dates are:
February 9 - Adopt the pre-levy resolution for our tax levy for new bonds at $602,000, and set the
date of public hearing and notice of intent to issue for March 1.
March 1 - Hold the public hearing
Will work with PFM on the schedule of events, but expect to issue in the first quarter of FY 16/17.
Let me know if you need any additional information.
Thanks,
Duane
file:///C:/Users/diane.voss/AppData/Local/'Temp/notesFFF692/—web8925.htm 1/25/2016
Page 2 of 2
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
-----<Josten.Robert@dorsey.com> wrote: -----
To: <ddPitcher@city.ames.ia.us>, <gerlachs@pfm.com>
From: <Josten.Robert@dorsey.com>
Date: 01/22/2016 10:02AM
Subject: Possible pre-levy resolution?
Should we be looking at a schedule of council meetings related to holding a hearing on GO
projects to be financed in the next fiscal year, and the adoption of a pre-levy resolution to make
it possible to include a debt service levy in your budget plans (as we have done for several
years)?
Robert E. ]osten
Partner
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DORSEY & WHITNEY LLP
801 Grand Suite 4100
Des Moines, IA 50309-8002
P: 515.283.1000 F: 515.283.1060 C: 515.556,8186
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material, and are for the sole use of the intended recipient.
Use or distribution by an unintended recipient is prohibited, and may be a violation of law. If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof.and inform the sender that you have deleted the e-mail, all attachments and any copies thereof.
Thank you.
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/---web8925.htm 1/25/2016
' Page 1 of 4
RE: Possible pre-levy resolution?
Duane R Pitcher
to:
Susanne Gerlach
01/27/2016 04:32 PM
Cc:
"Josten.Robert@dorsey.com", Roger Wisecup, Tina Stanley, Nancy E Masteller, Ashley Burton, Diane
R Voss
Hide Details
From: Duane R Pitcher/COA Sort List...
To: Susanne Gerlach <GERLACHS@pfm.com>
Cc: "Josten.Robert@dorsey.com" <Josten.Robert@dorsey.com>, Roger Wisecup/COA@COA, Tina
Stanley/COA@COA, Nancy E Masteller/COA@COA, Ashley Burton/COA@COA, Diane R
Voss/COA@COA
Susanne and Bob,
We had our second CIP session with City Council last night and an additional project to extend
water and sewer utilities was added to the CIP increasing the G.O. bond amount by $2.8 million.
This will not change the pre-levy amount since the bonds will be abated by water and sewer
revenues. Please adjust the public hearing amount to reflect the additional amount.
Susanne, if you can provide the new sizing I will update our council action documents.
Thank you,
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
-----Susanne Gerlach <GERLACHS@pfm.com> wrote: -----
To: "Josten.Robert@dorsey.com" <Josten.Robert@dorsey.com>, "DPitcher@ city.ames.ia.us"
<DPitcher@city.ames.ia.us>
From: Susanne Gerlach <GERLACHS@pfm.com>
Date: 01/25/2016 04:46PM
Cc: "rwisecup@city.ames.ia.us" <rwisecup@city.ames.ia.us>, "tstanley@city.ames.ia.us"
<tstanley@city.ames.ia.us>, "NMasteller@city.ames.ia.us" <NMasteller@city.ames.ia.us>,
"aburton@city.ames.ia.us" <aburton@city.ames.ia.us>, "DVoss@city.ames.ia.us"
<DVoss@city.ames.ia.us>
Subject: RE: Possible pre-levy resolution?
Bob:
I estimate cost of issuance to be roughly$120,000 including underwriters discount.
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web4973.htm 1/28/2016
Page 2 of 4
Just to be sure we cover possible discount pricing, let's use$6,300,000 for the total not to exceed amount.
Thanks!
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.
From: Josten.Robert@dorsey.com [mailto:Josten.Robert@dorsey.com]
Sent: Friday, January 22, 2016 12:36 PM
To: DPitcher@city.ames.ia.us
Cc: Susanne Gerlach; rwisecup@city.ames.ia.us; tstanley@city.ames.ia.us; NMasteller@city.ames.ia.us;
aburton@city.ames.ia.us; DVoss@city.ames.ia.us
Subject: RE: Possible pre-levy resolution?
Thanks. I will prepare a resolution that may be adopted by the Ames city council on February 9 in order to set
March 1 as the date for a public hearing on a general obligation loan agreement in an amount not to exceed
$5,945,000, plus whatever amount Susanne determines should be added for costs of issuance. Then, for the
meeting to be held on March 1, 1 will prepare a resolution showing the hearing has been held and approving a
debt service "pre-levy" in the amount of$602,000.
Robert E. Josten
Partner
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DORSEY & WHITNEY LLP
801 Grand Suite 4100
Des Moines, IA 50309-8002
P: 515.283.1000 F: 515.283.1060 C: 515.556.8186
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material,and are for the sole use of the intended recipient.
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web4973.htm 1/28/2016
Page 3 of 4
Use or distribution by an unintended recipient is prohibited, and maybe a violation of law. If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof, and inform the sender that you have deleted the e-mail, all attachments and any copies thereof
Thank you.
From: Duane R Pitcher [mailto:DPitcher(cbicity.ames.ia.us]
Sent: Friday, January 22, 2016 12:25 PM
To: Josten, Robert
Cc: gerlachs@pfm.com; Roger Wisecup; Tina Stanley; Nancy E Masteller; Ashley Burton; Diane R Voss
Subject: Re: Possible pre-levy resolution?
Bob,
Yes, we will be having a pre-levy again this year. Bond issue will be as follows:
2016/2017 CIP G.O. ISSUE
Flood Mitigation $ 500,000
Storm Water Erosion Control 250,000
Asphalt Street Improvements 11250,000
Grand Avenue Extension 1,300,000
Concrete Pavement Improvements 1,050,000
Arterial Street Pavement Improvements 345,000
Downtown Street Improvements 375,000
CyRide Route Improvements 525,000
Bridge Rehabilitation Program 3501000
Tax Supported Bonds $ 5,945,000
All projects are streets, bridges, sewers. Will need to include issuance cost.
Dates are:
February 9 - Adopt the pre-levy resolution for our tax levy for new bonds at $602,000, and set
the date of public hearing and notice of intent to issue for March 1.
March 1 - Hold the public hearing
Will work with PFM on the schedule of events, but expect to issue in the first quarter of FY 16/17.
Let me know if you need any additional information.
Thanks,
Duane
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web4973.htm 1/28/2016
Page 4 of 4
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
-----<Josten.RobertCabdorsey.com> wrote: -----
To: <dpitcher(a city.amesJa.us>, <gerlachs(c�pfm.com>
From: <Josten.Robert(�)dorsey.com>
Date: 01/22/2016 10:02AM
Subject: Possible pre-levy resolution?
Should we be looking at a schedule of council meetings related to holding a hearing on GO
projects to be financed in the next fiscal year, and the adoption of a pre-levy resolution to make
it possible to include a debt service levy in your budget plans (as we have done for several
years)?
Robert E. Josten
Partner
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DORSEY & WHITNEY LLP
801 Grand Suite 4100
Des Moines, IA 50309-8002
P: 515.283.1000 F: 515.283.1060 C: 515.556.8186
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material, and are for the sole use of the intended recipient.
Use or distribution by an unintended recipient is prohibited, and may be a violation of law. If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof,and inform the sender that you have deleted the e-mail,all attachments and any copies thereof
Thank you
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web4973.htm 1/28/2016