HomeMy WebLinkAboutA011 - Letter to Story County Auditor dated March 2, 2016 with certified copy of Resolution No. 16-109 • Ames",
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March 2, 2016
Ms. Lucy Martin
Story County Auditor
900 Sixth Street
Nevada, Iowa 50201
RE: Ames, Iowa
2016/17 General Obligation Corporation Purpose and Refunding Bonds
Dear Lucy:
Enclosed please find a certified copy of Resolution 16-109, which was adopted by the Ames City
Council on March 1, 2016, authorizing the issuance of the above-referenced Bonds. Please sign
the Certificate verifying the filing of same and return in the enclosed self-addressed, stamped
envelope.
If you have any questions, please call me. Thank you for your assistance!
Sincerely,
` ttA
Diane Voss
City Clerk
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Enclosures
City Clerk's Office 515.239.5105 main 515 Clark Ave.,P.O.Box 811
515.239.5142 fax Ames,IA 50010
www.CityofAmes.org
Ames419370-56/2016 Hrg&Prelevy
RESOLUTION NO. 16-109
Resolution authorizing a Loan Agreement and providing for the levy of taxes
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 $13,225,000 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 carrying out flood
mitigation and remediation, and of refunding the outstanding balance of the City's General
Obligation Corporate Purpose Bonds, Series 2008A, and has published notice of the proposed
action and has held a hearing thereon; and
WHEREAS, the City intends to enter into the Loan Agreement and to issue General
Obligation Corporate Purpose and Refunding Bonds in an amount not to exceed $13,225,000
(the "Bonds") in the future, and anticipates that principal and interest will come due on the
Bonds before June 30, 2017, and it is now necessary to make provision for the levy of a debt
service property tax to be collected in the fiscal year that will begin July 1, 2016 for the payment
of such principal and interest;
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 and to issue the 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. For the purpose of providing for the levy and collection of a direct annual
tax sufficient to pay the principal of and interest on the Bonds, there is hereby ordered levied on
all the taxable property in the City a direct annual tax for collection in the fiscal year beginning
July 1, 2016, sufficient to produce the sum of$602,000.
Section 3. A certified copy of this resolution shall be filed with the County Auditor
of Story County, and said Auditor is hereby instructed to enter for collection and assess the tax
hereby authorized. When annually entering such taxes for collection, the County Auditor shall
include the same as a part of the tax levy for Debt Service Fund purposes of the City and when
collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City and
set aside therein as a special account to be used solely and only for the payment of the principal
of and interest on the Bonds hereby authorized and for no other purpose whatsoever.
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Ames419370-56/2016 Hrg&Prelevy
Section 4. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved March 1, 2016.
Mayor
Attest:
City Clerk
On motion and vote, the meeting adjourned.
Mayor
Attest:
City Clerk
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- CITY OF
Ames'"
Smart Choice
March 1, 2016
STATE OF IOWA
COUNTY OF STORY
CITY OF AMES
I Diane R. Voss being the duly appointed City Clerk of the City of Ames Iowa do hereby certify
that the above and foregoing Resolution No. 16-109 is a true and accurate copy of the said Resolution,
and that the said Resolution was passed and adopted by the City Council of the City of Ames, Iowa,
at a duly called meeting thereof on the Pt day of March, 2016.
G
Diane R. Voss, City Clerk
(SEAL)
City Clerk's Office 515.239.5105 main 515 Clark Ave.,P.O.Box 811
515.239.5142 fax Ames,IA 50010
www.CityofAmes.org
' Ames419370-56/2016 Hrg&Prelevy
STATE OF IOWA SS:
COUNTY OF STORY
I, the undersigned, County Auditor of Story County, in the State of Iowa, do hereby
certify that on the 1 st day of March, 2016, the City Clerk of the City of Ames filed in my office a
certified copy of a resolution of the City shown to have been adopted by the City Council on
March 1, 2016, entitled: "Resolution authorizing a Loan Agreement and providing for the levy
of taxes," and that I have duly placed the copy of the resolution on file in my records.
I further certify that the taxes provided for in that resolution will in due time, manner and
season be entered on the State and County tax lists of this County for collection in the fiscal year
beginning July 1, 2016, and subsequent years as provided in the resolution.
WITNESS MY HAND this day of March, 2016.
County Auditor
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