HomeMy WebLinkAboutA008 - Letter to Dorsey & Whitney dated August 11, 2016 r �
CITY OF
A m e S-
Smart Choice
August 11, 2016
Dorsey & Whitney LLP
801 Grand Suite 4100
Des Moines, Iowa 50309
Attention Robert E. Josten
RE: SRF Sewer Revenue Loan and Disbursement Agreement
Your File No.: 419370-50
Dear Mr. Josten:
Enclosed lease find one the full executed proceedings from the City Council meeting held August
P Y
9, 2016, when a public hearing was held on the proposal to enter into a Sewer Revenue Loan and
Disbursement Agreement.
Also enclosed is the Publisher's Affidavit with a clipping of the notice, as published.
Thank you.
Sincerely,
Diane R. Voss
/dry
Enclosure
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
w �
Ames/419370-50/2nd%2 Hrg Only Sewer Rev.
419370-50 (Hearing)
(Sewer Revenue)
Ames, Iowa
August 9, 2016
The City Council of the City of Ames, Iowa, met on August 9, 2016, at six o'clock p.m.,
at the City Hall Council Chambers, 515 Clark Avenue, in the City.
The meeting was called to order by the Mayor, and the roll was called showing the
following members of the Council present and absent:
Present: Beatty-Hansen, Betcher, Corrieri, Gartin, Nelson, Orazem
Absent: None.
This being the time and place specified for holding the public hearing and taking action
on the proposal to enter into a Sewer Revenue Loan and Disbursement Agreement, 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 declared the public
hearing closed.
After due consideration and discussion, Council Member Betcher introduced the
following resolution and moved its adoption, seconded by Council Member Corrieri. The Mayor
put the question upon the adoption of said resolution, and the roll being called, the following
Council Members voted:
Ayes: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem
Nays: None.
Whereupon, the Mayor declared the resolution duly adopted, as follows:
DORSEY& WHITNEY LLP, ATTORNEYS,DES MOINES,IOWA
Ames/419370-50/2nd'/z Hrg Only Sewer Rev.
RESOLUTION NO. 16-473
Resolution taking additional action to enter into a Sewer Revenue Loan and
Disbursement Agreement
WHEREAS, the City of Ames (the "City"), in the Story County, State of Iowa, did
heretofore establish a Municipal Sanitary Sewer System (the "Utility") in and for the City which
has continuously supplied sanitary sewer service in and to the City and its inhabitants since its
establishment; and
WHEREAS, the management and control of the Utility are vested in the City Council
(the "Council") and no board of trustees exists for this purpose; and
WHEREAS, pursuant to a prior resolution (the "Outstanding Bond Resolution") of the
Council, the City has heretofore issued its Sewer Revenue Bond, SRF Series 2012, dated
November 16, 2012 (the "Outstanding Bond") in the principal amount of$3,121,000, a portion
of which remains outstanding; and
WHEREAS, pursuant to the Outstanding Bond Resolution, the City reserved the right to
issue additional obligations payable from the Net Revenues of the Utility and ranking on a parity
with the Outstanding Bond; and
WHEREAS, pursuant to the provisions of Section 384.24A of the Code of Iowa, the City
has heretofore proposed to enter into a Sewer Revenue Loan and Disbursement Agreement (the
"Agreement") and to issue Sewer Revenue Bonds (the "Bonds") in evidence thereof in a
principal amount not to exceed $797,000, for the purpose of paying the cost, to that extent, of
planning, designing and constructing improvements and extensions to the Utility, and has
published notice of the proposed action and has held a hearing thereon on August 9, 2016;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Council hereby determines to enter into the Agreement in the future
and orders the Bonds to be issued at such time in evidence thereof. The Council further declares
that this resolution constitutes the "additional action" required by Section 384.24A of the Code
of Iowa.
Section 2. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
-2-
DORSEY & WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-50/2nd'/2 Hrg Only Sewer Rev.
Section 3. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 9, 2016.
Mayor
Attest:
k'w
City Clerk
On motion and vote, the meeting adjourned.
A-2-�
Mayor
Attest:
City Clerk
DORSEY & WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-50/2nd V2 Hrg Only Sewer Rev.
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 the hearing on the
City Council's intention to enter into a Sewer Revenue Loan and Disbursement Agreement in a
principal amount not to exceed $797,000.
WITNESS MY HAND this 9th day of August, 2016.
City Clerk
-4-
DORSEY & WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA