HomeMy WebLinkAboutA009 - Executed Electric Revenue Bonds No. 1 through 12, dated December 18, 2015 CITY OF AMES, IOWA
December, 2015
VIA FEDERAL__EXPRESS
Calvin Courts
The Depository Trust Company
Underwriting Packaging Department
570 Washington Blvd,
Jersey City,NJ 07310
RE: Ames, Iowa
$9,500,000 Electric Revenue Bonds, Series 2015B
Dear Mr. Courts:
Enclosed are the executed Electric Revenue Bonds, Series 2015B, for the City of Ames,
Iowa, numbered from 1 to 12, inclusive, which should be held in escrow pending their release for
closing on December 29, 2015.
If you have any questions or if there is anything else you need,please contact our bond
counsel, Robert E. Josten, Dorsey & Whitney LLP, at(515) 283-1000.
Very truly yours,
Roger Wisecup
City Treasurer
Enclosures
cc: Robert E. Josten
UNITED STATES OF AMERICA
SPATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 1
$800,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2016 December 29,2015 030843 FEI
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
EIGHT HUNDRED THOUSAND DOLLARS
in lawful monev ol,Utz'United of America upon presentation and surrender of this Bond at the office of the City Treasurer,Ames,Iowa,(hereinafter referred
tr €€s the:'Rel'ti.:ear"or the"Paying Agent")with hrierest can said quirt,until paid,ru the rate per annum specified above from the date ofthis Bond,or from the most
tzceat into rest payment d€iie on which interest has been paid, on Jenne I and December I of each year,commencing June 1,2016, except as the provisions
hrrcumfier set north with raspcst its redemption prior to nuiturity may be or become applicable hereto. 'Interest ora this Bond is payable to the registered owner
trppr-m ing on the registration books of the,City al the close ol'business on the fifteenth Clay of the month next preceding the interest payment date,and shall be paid
to 0-w registcivd owner at the address Shown on stteh registration books. Interest shall be calculated on the basis ofa 360-day year comprised of twelve 30•day
months,
This Band shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of 1 k.4tric;Reventic Bond,,Series 2015E(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement, dated as of December 29,2015(the"Loan Agreement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric lightand power plautand system(the"Utility").
The Bonds are issued pursuant to and in striet compliance with ere provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of tho City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds(the"BesotuNon"),and reference is hereby made to the Resolutionand the Lean Agreement for a more complete
statement as to the source ofpayrnent of the Ronda and the rights of the owners_of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms ofpar and accrued interest.
11'less than all of the Bonds orally like maturity are to be redeemed,the particular part of those Boards to be redeemed shall be selected by the Registrar
by lot. The Bonds nwy be called in part in one or nnorc units of S5,000. If lei than the entire principal amount orally Bond in a'denomination of nacre than$5,000
is to he rcdcemed, the• Registrar will issue and deliver to the registered owner thereof:,upon surrender of such original Bond, a new Bond or Bonds, in any
authe tszetl eienunaination, in a total ag regate,principal aurrount equal to the unrcdeettted balance of the original Bond. Notice ofsuch redemption as aforesaid
identifying the E30ra€I or Bonds(or portion thereof)to be h decmi;d shall be sent by electronic ttneans or by eertntied mail to the registered owners thereof at the
addresses shown ern the<.ity's tag,istr'ation books not less than 30 days prior to such redemption date. All ol'such Bonds as to which the City reserves and exercises
thw right of retteri7plion and its to which notice us aforesaid shall have been given and for the redemption of which funds are duly provided,shall cease to hear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations its may be hereafter issued acid outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out of the future Net Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose.. This Bond is not payable in any maruter by taxation,mid under no
circurnstance's shall the City be in any manner liable by reason of the failure o'f t.hc said Net Revenue,to be itifficicin for the payment of this Bond mid the interest
hereon.
This Bond is fully negotiable but shall he fully registered as to both principal and interest in the name of the owner on the books of tlae City in the office
of the Registrar,after which no tranasfcr shall be valid unless made on said books and theft only upon presentation of this Bond to the Registrar,together with either
a written instrument of transfer satisfactory to the Registrar or the assignment form hercon completed and duly executed by the registered ow4tr or the duly
authorized attorney for such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is Hereby Certitie ci,Recited and D, .lair,tJ that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bonds have existed,have happeiwd atnd het e been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceed or violate any coniiiuliowd or statrit=oy limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF AMES,JJIO,,WAAg
Attesr. By, G(. W �r.�a+»�-
'J Meyu — _---
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution,
CITY TREASURER
Ames,Iowa
Registrar
l�'I'r SUrei
STATE of IowA By
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly art. . operl nsL�d in my office as of December 29,2015.
By
City I raras r,Ames,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
TEN ENT as tenants by the entireties As Custodian for (Custodian)
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint .Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
.......... .___..__ .........__._........_.....,_._...,___�� _
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 2
$625,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2017 December 29,2015 030843 FF8
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SIX HUNDRED TWENTY-FIVE THOUSAND DOLLARS
nt k1witil ruoncy of the United 4ttates ofAmwcin upon presenlation and surrender of this Bond at title office of the City Treasurer,Ames,lowa,(hereinafter referred
to as dw"Registrat"or the"Paying Agent")with interest on said sum,until paid,at the rate per unnum specified abovi:from the date of this Bond,or from the most
ni•aent interest payinent date on which irurtcst has been paid, on tune I and December I of each year, commencing tune 1y 2016, except as the provisions
lu tcilmllker set forth with reslicct to redemptirin prior to maturity.may be or become applicable hercio, lateral on this Bond is payable to the registered Owner
sqlpturintg,ofl the rogistrnition hooks of the City at the clo;wc ofbussiness on the fifteenth dayol`the month next preceding the interest payment date,and shall be paid
to the rettstcred owner at the actthcss shown on such rat istradon books. Interest shall be calculated on the basis of a 360-day year comprised oftwelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of flwrie.Rv venue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015 (the"Loam Agrcement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power plant and system(the"Utility").
The Bonds are issued pursuant to and in strict Compliance with the provisions of Chapter 384 of the Code of Iowa.2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and sceud. ng the paynnrnt of the I}onds(the"Resolution"),fund reference is hereby made to the Resolution and the Loan Agreement for more complete
statement as to the source of payrnent of the Bonds and the rights ofthc owners of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less than all of the,P,cnnds of any liktr maturity are to be redeemed,the particular part of those_Bonds to be redeemed shalt be selected by the Registrar
i,i tot- The f?owk may be called in Bart in oil(::or rnore units of$5,000, If icss than the entire principal amount of any Bond in a denomination of more than$5,000
k to the redeemed, the. Registrar will issue and deliver to the registered owner thereof,upon surrender of such original Bond,a new Bond or Bonds,in any
iruthoriygd<lertornirtntinri.in a hital agg'rc:gate principal amount dual to the unredeemed balance or the original Bond. Notice of such redemption as aibiCstaid
iticllnE'yitrl;tine.Bond m'13o,nds(or portion thereof)to be redeemed shall hn sent by Occfronic metals or by certified mail to the registcrcd owners thereztf at the
,utdressc%s shown oil tine City's fegistration boots not less Min 30 days prior to such redemption date, All ofsttch Bonds as to which the City mwrves and exercises
tine right of tcderoption and as to which notice as aforesaid shall have beengiven and for file redemption ofwhich funds am duly providetL shall cease to bear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional_obligations as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out of the future Net Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in ,any mariner by taxation, and under no
circumstances shall the City be in any manner liable by reason of ilte I'40ure of the said Net Revcnites to be 4u(ftcient for the payment ofthls Bond and die interest
hereon.
This Bond t•,fatlly nagoti€able but shall be fully registered as to boil)principal and interest in the name of the owner on the books ofthe City in the office
of the Registrar,after whwh iw fro nsfrr shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of transfcr satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is' z�,..d,k..,.e,i-,nt! .s_ .,:,;;t1 that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bon&rt eve exim�A,h=avc lr aq)IWW.'d .,id been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceed or violate any conaitutiunaf Gr slmuior, limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council, has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF AMES,IOWA
Attest: By
y� Mayor
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
City STATE OF IO WA re ter
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly anc r".,AA
pdcdn office as ofDecember 29,2015.
Byy,y , eS
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
TEN ENT as tenants by the entireties As Custodian for (Custodian)
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program,
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 3 $655,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2018 December 29,2015 030843 FG6
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SIX HUNDRED FIFTY-FIVE THOUSAND DOLLARS
ill lawful ratio +y of the U;liled swltt s of,lllwrica upoir prescntattion and surrendvt of thi Bond at the office ofthc City Treasurer,Antes,lows,(hereinafter referred
to as tale"k ft{4trrar"or the"I'iy not Agent-^
ent"j with interest tart siud.surrn,until paid,at the rate per l+n rum specified above from the date ofthis Bond,or from the most
recent interest p ayincnt elate ate which interest hats been paid, on June I and Dcccniber I of each year,.commencing June 1,2016,except as the provisions
hefeimifler set forth with rr spat to rCdcmap60n prior to maturity ntuy bear be onlc applicable herwo. Interest on this Bond is payable to the registered owner
appearing on tilt rGfiistrtuiran books ofthe City at the closeofbusiness nri the fificenth day ofthe month next preceding(fie interest payment dam,and shall be paid
to rite rct,istered ort'ner lit the,address shown oil such registration books. Interest shall be calculated ore the basis of a 360•day year comprised of twclvc 30•day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015E(tire"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015 (the "Loan Agreement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power plant and system(the"Utility").
The Bonds are issued pursuairl ten and in strict compliance with the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,,tad in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance.and securing the pllym,!w of ilic Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of puyincntof the Bonds and the rights ofthc owners ofthe Bonds.
The City reserves the right to prepay part or ell of the principal ofthe Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June I,2023,or on any date thereafter upon terms ofpar and accrued interest.
if less than kill of the Bonds of any like mattn`ity are to be redeemed,the particular past of those Bonds to be redc;med shall be selected by the Registrar
by lot. The Bonds may be called in pars it)one or more units of$5,000. If less than the entire principal amount of any Bond in a denomination of snore than$5,000
is to be redrrincd, the Registrar will issue and deliverr to the registered owner thereof,upon surrender of such original Bond, a new Bond or Bonds,in any
uinhorized denoinaination, in a tour)aggreyaite principal iuriount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid
identifying the Bood or Bonds(or portion ifiercot)to be redeemed shall be sent by electronic mcans or by certified retail to the registered owners thereofat the
1drt sses shown on t1w,C'ity's rcgi wolian books rash less llwu 30 days prior to such redemption date, All ofsuch Bonds as to which the City rieserves and exercises
the right of r"(1cmptioll and as to avhiji i4utice d:Uttvaid;hills have;been givers and for the redemption of which fiends are duly provided,shall cease to bear
Interest un the todelopliun date,
The Bonds are not general obligations ofthe City but,together with any additional obligations as may hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out ofthe future Net Revenues ofthe Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose, This Bland is not payable in any manner by taxation, and under no
circumstances shall the City be in any manner liable by reason ofihc failure of the said Net Revenues to be sufficient for the payment ofthis Banff and the interest
hereon.
This Bond is frilly negotiable,but shall be ftilly rcgisiorcd as to both principal and interest in the name ofthe owner on the books ofthe City in the office
of the Registrar,after which no be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of traoslier satisfactory to tire Registrar or die#tssigiuitcni form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is Hereby Certified,Recited.teed Declined that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance ofthe Bonds lim c.sexiswA,have;happinied ruts have been performed in due time,form and manner,as required by law,and that the issuance ofthe Bonds
does not exceed or viol„ic any or=aatufoly limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OFFyNAMES,IOWA��
A nest: By.. �(HAY✓ VLisNi �
.- .� i ey;r._..m.d
City Clerk _
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
B
City rc*- Yer
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly a 1 pro er ply recogded in my office as of December 29,2015.
By
*yr ,Ames,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTFI R IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint_ ..... ,Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signatures) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE; The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF iOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No.
$685,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2019 December 29,2015 030843 FH4
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SIX HUNDRED EIGHTY-FIVE THOUSAND DOLLARS
in lawhil money of the United States of Ameriati upm prescrrurti«n and surrender of this Bernd at tltc office of the City Treasurer,Ames,Iowa,(hereinafter refehcd
to as the"Regisinir"urdie"Paying Agent")with niteicst on said stun,until paid,at the i tife per annum specified above born the date ofthis Bond,or from the most
accent inteie t paymczrl date oil which interest has been paid, cii.time I and December I ofeadt year,comiuctiCing June 1,2016,except as the provisions
llorc inaftcr set forth with respect to redemption prior to maturity niay be or become applicable hercto. Interest on this Bond is payable to the registered order
., put ing oil the rrt i.mnil ion books ofthe City at tile close of business on the fiftce nth day ofthe month next preceding the interest payment date,and shall be paid
to [lie rcgistere.d other;at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015E(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015(the"Limn AVicement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric lightand powerplant and system(the"Utility").
The Bor ds are issued pursuant to and in strict rr tnplianec with the provisions of Chapter 384 ofthe Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in con1brnnty with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance mid securing;the payment ofthe hoods('the"Resolution"),and rercrence is hereby made to the Resolution and the Loan Agreement for a more complete
state rnent its'if)the source of paytnentef the Bonds and tite rights ofthe owners oftheBonds.
The City reserves the right to prepay part or all of the principal ofthe Bonds maturing in each ofthe years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less than all ofthe 1,R)II&ofitny like In,rnrrity are to tic,redeemed,the pttrtictdar part of thusc Bonds to be redeemed shall be selected by the Registrar
lay lot, T Ire Bonds may be called in part m ortc w-more units of'$i,000, 1Hess that)tlrc entire prin0pnl€tniount ofany Bond in a denomination of more than$5,000
th Io be redeemed, the Rcgistr.n will issue and dvhver to tine registered owner thereof,upon surrender of such original Bond,a uciv Bond or Bonds,in any
authorized dentxnintuiun, in a Cowl aggregate principal ,nosh equal to the unredecincel balance of the original Bond. Notice of such redemption as aforesaid
identifying Ili- Bond ran Boods(or portion thereof)to be redecmed shrill be sent by electronic tile"or by certified mail to the registered owners thcreofat the
addresses shown on the C:ity's registration books not less than 30 days prior to such redemption date. All of such Bonds as to which the City reserves and exercises
tite rit,ht ill'redtiniptiun and as to which notice as at'otesaid shrill have been given and for the redemption of which funds are drily provided,shall cease to bear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution;are payable solely and only out of the future Not Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in tiny manner by trucation, and under no
circumstances shall the City be in any manner liable by reason ofthe failure ofthe said Net Revenues to be sufficient for the ppymcntofthis Bond and the intetest
hereon.
This Bond is fatly negotiable tad%halt be billy registered,as to both principal and interest in the name ofthe owner on the books ofthe City in the office
ofthe Registrar,after v loch no transfer,duli be valid unless made oil said books atui them only upon presentation of this Bond to the Registrar,together with either
a written instrument of iranslet satishtclory to tine Registrar or the-assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or oil account cif`lumcipal licTe'f,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affei: d by any notice to the e+:inf ary.
And It Is Hereby Certified,Recited and Liechired that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bonds have existed,have hatppcircd un1 Svc been performed in due time,form and manner,as required by law,and that the issuance ofthe Bonds
does not exceed or violate any conawitiomal of stanatsu_,"limotation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as of December 29,2015.
CITY OF AMES,IOWA
A p���
Attest: wy✓ � Ci/
4) Mayor
CityClerk .,...,...w,a.. ......._,.. ,...�...�.,...�....
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
4cty rcr
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly f probe n>cor"t d in my office as of December 29,2015.
By e2 S
t ity' rear rer,Aines,Towa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
TEN ENT as tenants by the entireties As Custodian for (Custodian)
TEN - as joint tenants with (Minor)
Might of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used thougb not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledgzd,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint w .Attomey,to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
_.
Signatures) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTIOr%, The signature to this Assignment must correspond with the name of the
registcrcd fawner as it appears on this'Bond in every particular,without alteration or
enlargement or any change nge whatever,
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CiTY OFAMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 5
$720,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2020 December 29,2015 030843 FJO
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SEVEN HUNDRED TWENTY THOUSAND DOLLARS
In i„wt al money of the United States of Amc ric a upon presentation and surrcnder ofthis Bond tit the office of the City Treasurer,Ames,Iowa,(hereiontler referred
t,,its the 1 0glstrar"or the"Paying Agent")wall interest on said situ,until paid,at tic rate per annum specified above from the date ofthis Bond,or front the biota
recent interest paymmit daft:, on which intw''eil has been paid,on June I and December I of each ycar, co ntencuig June 1,2016,except at;the provisions
hofc< titer sci firth mill respect to redemption prior to maturity may be or becumc tipplicable hereto. Interest on this Bond is payable to the registered owner
q t ci+riot;on doe wgiso'ation Ixxiks ofihe City tit the,close ol'business on the fifteenth day of the month next Prceeding the interest payment date,and shall be paid
i the To'n.51ert!d owncl al the address shown on such regisuation books, Interest shall be calculated on the basis of a 36Uay year comprised of twtivc 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of h-Jectric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29, 2015 (tile"Loan Agreemcni")entered into by the City for the purpose of paying the cost,to that extend of constructing
improvements to the municipal electric light and power plant and system(the"Utility").
The Bonds are issued pti"'liant to and in sh ict compliance with the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing_and approving the Loan Agreement and providing for the
issuance and securing the pay'rnent of the Bonds(the"P% solution"),and reference is hereby made to the Resolution and the Loan Agreement fear a more complete
statement as to the source of payment of the Bonds and the rights of the owners ofthe Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If'less than fall of[lie Bnnnda of aoy like m alornytire to be redeemed,the panicd,cr part of those Bonds to be redcerned shall be selected by tile Rcgistmr
by lot. The Bonds stay tic called in pram in oric or WWII;units of$5„000. tf Icss Chart tfic entiraPrinaipal amount of any Bund in a denaririiattion of more than$5,000
e< to be rcdcenwd, die Kegistrar will issue:uid deliver to file registered owner thereof, upon sumoder of such original Bond,is new Bond or Bonds, in any
authorized dcnornination,in it tonil tiggregate principal mnount equal to the unred"Hard balance of the original Bond. Notice of such redemption as aforesaid
adcntifyifat;the Rond or Itonds(or portion thereof)to be redeemed shall be Sent by electronic ineiats or by certified(nail to the registered owners thereof at the
,ddi-,,so!,Shown on ttae t;i l'a re is(ration books not less than 30 days prior to such redemption date, All of Stich Bonds its to which the City reserves and exercises
I i�ht of rczleniptaoat acid wi to which notice as aforesaid shall have been given and for the redemption of which bonds are duly Provided,shall cease to boar
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations as may be iiercaficr issued and outstanding fkctm time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable Solely rind-only outof the future Not Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and tinder no
circumstances shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for the payment ofthis Bond and the interest
hereon.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office
of the Registrar,after which no transfer shall be valid unless made on said books and then only upon presentation ofthis Bond to the Registrar,together with either
a written instrument of transfer satisfactory to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It I, i P ,, �,' for cd,l(,ceited and D) ckv cf that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the:Bond,lr.r r <� .sa, li rt p olcd arld ha v,been performed in due time,form and manner,as required bylaw,and that the issuance of the Bonds
does not oxceud or .;n . n=ir sir„r:!of limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa, by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015,
CITY O/F/pAMES,IIO,W/A�
Attest: By ot/. t fNs_
i ,- Mayor
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
.art'1 rc rer
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly an uperly coide I in my office as of December 29,2015.
By
City'reastt ,Ames,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right ofsurvivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint .Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated;
Signature guaranteed:
Signatures) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE; The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever-
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 6 $760,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June I,2021 December 29,2015 030843 FK7
The City ofAmes(tile"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date ofthis Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SEVEN HUNDRED SIXTY THOUSAND DOLLARS
in hitwfitl money of the Uri tied States of r'nwrica nfton pre entattion Arid surrender ofthis Bond at the office ofthe City Treasurer,Ames,Iowa,(hereinafter referred
to its th,,"fu gistriu"or the"paying Agent")with interest on said sum,lentil paid,tit tfte rate,per annum specified above from the date ofthis Bond,or front the roost
rcccnt lots,.c.st 1%incia date on which interest has been fraud, oil June t and December I of each year, commencing June 1, 2016, except its the provisions
hrrein;al`taa set forth with respect to redemption prior to maturity tnay be or become applicable hereto, Interest on this Bond is payable to the registered owner
tippearint olt the rogistration books of(lie Pity_ la the close ol'busincss oil the fifteenth day ofthe month next preceding the interest payment date,and shall he paid
to the registcred ownc,r at the address shown On such ecgistration books, Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015 (the"Loati Agreement*')entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power plan(and system(the"Utility").
The Bonds are issued pursuant to and in:strict compliance with the provisions of Chapter 384 ofthe Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,rind in conforrnctywith a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the pityrilcnt of the.Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of payntctttof the Bonds and therights of tile owners ofthe Bonds.
The City reserves the right to prepay part or all ofthe principal ofthe Bonds maturing in each ofthe years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
ff less than all of the Bonds ofany like inatnrity arc to 1w redeemed,the particular part ofthosc Bonds to be redeemed shall be selected by the Registrar
by lcn. Ttie Bonds rutty be called in print tits one or mote units of$5,000. If less than the entire principal sumount of ruty Botmt in a denotxination of mono than$5,000
is to he rede.cnied, t°ic Re isttar will issatc and delivcir to the registered owner thereof,upon surrender of such original Bond, a new Bond or Bonds,he any
c,uthctriyc'd dc1loirtina doll, in it total aggregate principal amount equal to the unredeemed balance ofthe original Bond. Notiec ot'such redemption as aforesaid
icicnUtying rite llond or(«ttds(or portion thereof)to be redeemed shall be sent by electronic means or by certified mail to the registcred owners thereof at[lie
stddlcs4cs shown or)the Cily's registration books not less than 30+Says prior to such redemption drde. All oftuch Bonds as to which the City reserves slid exercises
the tt ht of rodcrnph m and as to which notice as aforesaid shall have:been given and for the redemption of which funds are duly provided,shall cease to bear
interest on the redemption date.
The Bonds are not general obligations ofthe City but,together with arty additional obligations as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,tare payable solely and only out of the future Net Revenues of the Utility,a
sufficient portion of which has been Ordered set aside and pledged for that purpose. This frond is not payable in any mariner by taxation, and under tier
circumstances shall the City be in any manner liable by reason ofthe failure ofthe said Net I±ovemtes to bu sufficient for flit payment ofthis Bond and the interest
hereon.
This Bondis fully nc gsatiabtc but shall be fully registered as to both principal and interest in the name ofthe owner on the books ofthe City in the office
of the Registrar,after cr huh nc trimister shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of transfer satisfactory°to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is Hereby Certified,Recited and Declared that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance ofthe Bonds have existcdt,tmitc happicned attd have been performed in due time,form and manner,as required by law,and that the issuance ofthe Bonds
does not exceed or violate any or stttutory limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as of December 29,2015.
CITY OF NAMES,IIO/W,ABy
M�
�Q.D�
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Arises,Iowa
Registra� ', f
By
.ity`l'r ttrer �`
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was B�ml cell ro eorde �M'my office December 29,2015,
City"'r asur ,Ames,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint _ , Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF iOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No 7 $795,000
RATE MATURITY DATE BOND DATE CUSIP
5.00% June 1,2022 December 29,2015 030843 FL5
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
SEVEN HUNDRED NINETY-FIVE THOUSAND DOLLARS
in tatwvtif)titoncry o€the United States of Anwricat upon presentation and surrender of this Bond at the office of the City Treasurer,Ames,Iowa,(hereinafter referred
to as the"l et"'istrar"or tile"Paying,Agcat")with interest on said sum,until paid„kit fliv rate per annuni spccificd above from the date of this Bond,or from the most
reeknit inter'st paaymcnt cute on which interest has Iven paid, On Jun, 1 and Dc,"mher I of eavh year, commencing June 1, 2016,except as the provisions
f,ar;Inatter sc.I forth willf reslrcct to rudehriptivil prior to maturity may he or beem1w,applicableihsrcto, Inlerest on this Blend is payable to the registered owner
appeiariu_P,can(lie ret,istration books ol'the City at the close of business aril the tilleenth(lay of lire month next preceding the inicrest payment bate,and shall be paid
t+,the rrt istercal owner ail the address Shown oil such registration books. Interest shall be ualcula tud on the basis oft€360-day year comprised of Blvd 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement;dated as of December 29,2015(the"Loan Agreement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric lightand power plant and system(the"Utility").
The Bonds are issued pursuant to and in strict compliance with the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,mitt in confonni y with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds((be"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of Ihaiynhent of the Bonds and the rights opine owners of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less than all of the Bonds of any like maturity are to be redeemed,the partk'adw pat of those Bonds to be redeemed shall be selected'by the Registrar
by lot. The Bonds may be called in poet in one or more units of$5,000. tfless than the enhrc principal amount of any Bond in a de norninalion of attire than$5,000
Ls to be rvdvented, the Registrar will issue and deliver to the registered owner thereof, upon surrondor of such original Bond,a new Bond or ponds,in any
aia;itaariacd drnurninatunn, in a tat rl atggrcttate principal amount equal to the umedeemc°,d hadancc of the origirml Bond, Notice ofsuch redemption as aforesaid
irlcnlifyinf;tine Bond or Bonds(nr portion thereof)to be,redeemed shall be sent by electronic mesvis or by certified mail to the€egistured owners thoreufat the
uaidi ca54s shown on the City's ac g+slretion books not lcss loan 30 days prior to suds redemption date, All of such Bonds its to wlilch dte City reserves and exercises
the right of redemption wid as to which nunee as aaforesnid shall bzrve been given and for the redemption of which funds are duly provided,shrill cease to bear
interest on the redemption date.
The.Bonds are not general obligations of the City but,together with any addiu;hnal obligations as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions,set forth in the Resolution,are payable solely and only out of the future Net Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and under no
circumstances shall the City be in any manner liable by reason of Ilia failure of the said Ned Revenues to be sufficient for the paymentofthis Bond and the interest
hereon.
This Bond is fully ncf otiable butt shall be fully registered as to both principal and interest in the name o€the owner on the books ofthe:City in the office
or the Registrar,after wa high no mursfer shall be valid unless made on said books and then only upon presentation ofthis Bond to the Registrar,together with either
a written instrument of traanstwr sutisiiieloty to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And it Is Hereby Certified,Recited and Declared that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bonds have existed,have happened and have been performed in due time,form and manner,as required by law,and that the issuance ofthe Bonds
does not exceed or violate any con3itutional or statutory limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF//AMES,IOW/ABy
Attest:
Mayor
1 QMXJ i 1. V.BQl1�.
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
ty Cte� ut�r
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is part,was duly and p uperly tccordt in my office as of December 29,2015.
By ! 7
City'[rcasur,. 1mes.Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM - as tenants in common UTMA
(Custodian)
TEN ENT - as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signatures) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CiTY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 8
$835,000
RATE MATURITY DATE BOND DATE CUSIP
5,00% June 1,2023 December 29,2015 030843 FM3
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promisesto pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
EIGHT HUNDRED THIRTY-FIVE THOUSAND DOLLARS
in I awvfiil motley of the united States of America upon preseuitatiorr and sarrrcnder of this Bond at the office of the City Treasurer,Ames,Iowa,(hereinafter referred
to aS the`°RogkLrar` or I}le"Paying Agent")with ineerest on said stmi,L ilil paid,itt ilia rate per arintnYt spGcifed nbovc from the date of this Bond.or from the most
rvcent intelecsf paynsiri daatc on which nwterc.,t has been paid, oil aline I rand December I of each yc.ir, commemAng.lunc 1,2016, except as the provisiptls
hercinaticr se€ forth with respect to redemption prior to nlatarity waft' be or tss-ctrmc lipphcable hereto, Interest on this Bond is payable 10 the registered owner
appu at ing tin the rcn,rsiration books oftlle City at the close ol'business on the tifticnth day ofhe month v,:,x(preceding the interest payment date,and shall be paid
it)the registered o',+ner at the address shown coil such registration books. Intcrcsl shall be calculated on the basis of a 360-day year comprised of twcivc 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015 (the"Loan Agreement")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power Plana and system(the"Utility").
The Bonds are issued pursuant to and in strict compliance with the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds(the"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of payment of the Bonds and the rights of the owners of the Bonds,
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less than all of the 13,mds of any like maturity'are=to be r;deenied,ahc particular part of those Bonds to lac redeened shall be selected by the Registrar
bylot, 'G'he 13oads nittt�be cailed in part irl csna c+r mitre units cif$S,OOt). 1Q Icss thwi tha c;hire principal aurouttC cif tu7y L3orui in to denomittstan rlf mote llarn$�,i�{}0
is to be iedecmcd, the Registrar will issuw and deliver to lite registered owner thereof,uptan surrender of such origilial Bond, a new Bond or Bonds,in any
authorized dcnoroinm6on,in a total aggregate principal amount equal to the unredeemed balance of the original Bond. Notice of such redemption as aforesaid
identifying the Bond or Bonds(or portion thereat)to be redeemed shalt be scnt by cicctrcmicc means or by certified mail to the registered owners thereafat the
addresses shown on the City's registration books not less than 30 days prior to gusto redemption date. All ofsuch Bonds as to which the City reserves and exercises
the right of redemption and as to which notice as ulbresaid shall have been given and for dic redemption of which hands are duly provided,shall cease to bear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out of the future:Net Revenues critic Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation,and under no
circumstances shall the City be in any manner liable by reason of the failure of the said Net Revcnucs to be sufficient for(lie payment of this Bond and the interest
hereon.
This Bond is fully lie got iable.but shall be fully ret imerod as it)both principal and interest in the name ofthe owner on the books offlic City in the office
of the Registrar,after which no tiansfcr shall be valid unless made=on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of iranstii satisfactory to the Registrar or the wsigjanent form hereon completed and duty executed by the registered owwner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,.if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It is Hereby'Certified,Recited and Declared that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance ofhe Bonds have existed,have happened and have been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceed or violate any consitutional or statutory limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF AMES,IOWA
Attest: By G(.vw /.
Mayor
-�.. LI+ . I.
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
�oit `r Liurt r
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly a prop/efrlyt reell ded in my office as of December 29,2015.
By if . .
'it, I`er. rer,Ames,lows,
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attomey;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICI': The signature to this Assignment must cormspoigl with The name of the
registered owner as it appears on this Bond in evary particular,without alteration or
enlargcnient or any ehango whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 20158
No. 9 $875,000
RATE MATURITY DATE BOND DATE CUSIP
2,125% June 1,2024 December 29,2015 030943 FN1
The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
EIGHT HUNDRED SEVENTY-FIVE THOUSAND DOLLARS
in lawful morley offlic United Stntcs ofArnericra upon presentation and sta ncnder of this I:tond at the office of the city Treasurer,Ames,Ioava;(hereinaflet mfemti
I,)as pre Registrar"of llre"Paying Agent")with inter toil said sum,tmtil prod,at the rate per satnarn specified above Train the date of this'Bond,or from die most
recent interest payincnt daw on which interest has been paid, oil June 1 and Docemhcr I O'each year,commencing.tune 1, 2016. except as ox provisions
hcicinafter set tenth with res1wci to rcdurnption prior to maturity may be or become,al)plicable,hcieto. Inier"t oil this bond is payable to tho registered owner
appealing on tine registration books ofthe Ch_v at the close of Ilmirtess on thc:'ftfieentlt day offlie mrrnCh next preceding the interest payntent die,read shad be paid
to the rcgisteriA owner at like address shown on such registration books, Interest shall be cah;ukaed cut the basis ofa 3b0-dray year comprised of iwelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series cif I>h:ctrie.Revenue Bonds,,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015(the"Loan Agreement")cntcmd into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric lightrmd power plant and system(tire"Utility").
The Bonds are issued pursuant to turd in strict compliance sx idt the;provisions of Chapter 384 ofthe Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in confonnity with it resolution ofthe City Council authorizing and approving the Loan Agreement and providing for the
issuance and.securing the payment of the Bonds(tile"Resolution"),and rcfercnct:is hereby made to the Resolution and the Loan Agreement for a mote complete
statement as to the source ofpaymentof the Bonds and ire rights of file owners of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less thaur all of the Bonds of any like:maturity am to be redeemed,the pruticidar part nt those fronds to be redeemed shall be selected by the Registrar
by lot. The Bonds may be called in part in one or more units of$5,000. IC loss thrill the entire principal amount of any Bond in a dettondnation ofmom than 00
k to be rcdeenisd. trti Ste+istrar will issue and deliver to the regisuncd owner thereof, upon surrender of such original Bond,a new Bond or Bonds, in any
authorized denomiwktion,it) a total a„grel,:atc principal amount cilual to tine unredeemed halanve ofthe original Bond. Notice orsuelt redemption as aforesaid
idcntilv;ng the Bond or lionds(or portion thnrcof)to be.redcc,naed shall be scni by electronic mnen.ms or by certified mail to the registered owners Utercofat the
€addressci shown oil the Csy'S Tegistra lioit hooks not less than 30 days prior to such rcdeniption datc. All ot'such Bonds as to which the City reserves and exercises
the right of redemption and as to which notice as aforesaid shall have been given and for the redemption of which funds Eire duly provided,shall(,case to bear
interest on the redemption date.
The Bonds are not general obligations ofthe City but,together with any additional obligations as may be ha reafterissued and outstanding from time it)
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out ofthe future Net Revenues of the Utility,as
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond is not payable in any manner by taxation, and tender no
circumstances shall the City be in any manner liable by reason ofthe failure ofthe said Net Revenues to besuilicient for the payment of this Bond kind the interest
hereon.
This Bond is fully netotiable but shall be folly registered as to both principal and interest in the name ofthe owner on the books ofthe City in the office
of the Registrar,after which no translbr shall be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of tiansfer �aiisfactmy to the Registrar or the assignment form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City, the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any'notice to the contrary.
And it Is Hereby"Certified,Recited and Declined that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance ofthe Bonds h avc t: tstvtl„hawk happened and have been performed in due time,form and manner,as required by law,and that the issuance ofthe Bonds
does not exceed or violaic any v.ontatutioiIal or sGatutury limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa, by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF AMES,IOW/A�
AtteSf: BY. ��wv e1�• c.°.ae"._�1
�y� Mayor n
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar f f
By 4
Tr surer
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly id properly reco dcd In my office as of December 29,2015.
Y
City Crni tecr,Am�a:,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State) w
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signatures) must be guaranteed by an eligible guarantor institution which is a
member of a recognized sigmture guarantee program.
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 10 $895,000
RATE MATURITY DATE BOND DATE CUSIP
2.25% June I,2025 December 29,2015 030843 FP6
The City of Ames(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
EIGHT HUNDRED NINETY-FIVE THOUSAND DOLLARS
in Im0itl nx,ney of the United Statcs of Anlcrica upon presentation and surrendi-r of this Bond at the office of City'Treasurer,Ames,Iowa,(hereinafter referred
to as file"R(!r>istrar"or lire"Paying Agent")with interest oo Said sutn,until paid,at the rate lie),amium,iliceified above from the d of this Bond,or from the most
recenl inic-resl payment date oa which intcrust has boat Brad, t'in June I and Dccembci I of each year,commencing June 1, 2016, except as the provisions
hereinai''m set forth with respect to redemption pricer to maturity may he or become,applicable hereto interest on this Bond is payable to the registcred owner
appearing on the registration books of tite City at the close of business on the fi tccrtth day ofnite month next preceding the interest payment dale,and shall be paid
to the registered own,.,r at the address shown on such registration books. Interest shall bc_GalCulated on the basis of a 360-day yoar CompFlsed of twelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29,2015 (the"Loan Agreement")entered into by the City for the purpose of paying the cost,to that extent of constructing
improvements to the municipal electric lightand power plant and system(the"Utility").
The Bonds are issued pursuarit to and in slrict Compliance with the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds(tile"Resolution"),and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of paymentof the Brands and the rights of the owners of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
if less than all of the Bonds ofany litre nianrrity tires to be redeemed,the patticulitr part ofthow ll3ortds to beredcomcd shall be selected by tale Registrar
by lot. The Bonds may be called in part in one or Inure units of.$5,000. If Icss than rite entire principal amount of any 11olid in a denomination of more than$5,000
is to be reddened, the Rogisuar will Issuc and cteiivcr to the registered crvrier thereof, upon surrundcr of such original Liond,a new.Bond or Bonds, in any
auth,razed denomination,in a total ttggro,;ate principal amount equal to the untedeemed valance of the original Bond. Notice of such redemption as aforesaid
iri+.rrtifying the Bond or Bonds(or portion thereof)to be redeemed shall be scut by electronic means or by certified mail t)the registered owners thcrf at 01e
adds es"'es sfiorvn can the Cay'a registration hooks not less than 30 days prior to such redemption date. All of such Bonds as to which the City reserves and exercises
thy:r°tght of redemption and as to which nonce as aforesaid shall have been given and for the recieuiption of which funds tyre duly provided~shall cease to`beat
interest on the redemption date.
The Bonds are not general obligations of the City but together with any additional obligalions as may be hereafter issued and outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable stalely and only out of the future Net Revenues of the Utility,a
sufficient portion of.which has been ordered set aside and pledged for that prtrpr,s, `Cliffs i3ond is not payable in tiny manner by ration, and wider no
circumstances shall the City be in any manner liable by reason of the failure ol`ihc said Net Revenues to be sufficient tot file paymentof this Bond and the interest
hereon.
This Bond i_+fully mgouahlc but shall be fully registered as to both principal and interest in the name of the owner on the books of the City in the office
of the Registrar,after which no aansfcr shrill be valid unless made on said books and then only upon presentation of this Bond to the Registrar,together with either
a written instrument of transfer satsfaclory to tole Registrar or tho assigrime it form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City,the Registrar and the.Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is derby Corlified,Recited and Declared that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bond,have y,si ct d,have happened and have been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceed or violate tiny cori4itirtional or statutory,limitation or provision.
IN TESTIMONY WHEREOF,'the City of Ames, Iowa,by its City Council,has caused this Bond'to`be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015,
CITY OF/AMES,IOW�A
By. Gf p
wnesr.
Mayor
City Clerk _. _..,..,
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By
t".it 7 rc firer
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly iq f rol7erl Mcord d in my office as of December 29,2015,
By
City 'I I X111 s, own
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations'
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint, _ Attorney,to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated: .
Signature guaranteed:
g
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE; The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015D
No 11 $915,000
RATE MATURITY DATE BOND DATE CUSIP
2.50% June 1,2026 December 29,2015 030843 FQ4
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
NINE HUNDRED FIFTEEN THOUSAND DOLLARS
in lawful money of the United States of America upon presentation and surrender of this Bond lit the office ofthe City Treasurer,Ames,Iowa,(hereinafter referrod
to as the"Registrar"or the"Paying Agent")with interest on said sum,until paid,at the rate pt r minom specified above from this date of this Bond,or from the most
recent interest payment date on which interest has been paid, oia June i and December I tit'eacjj year,cornmoncing June 1,2016,except as the provisions
hereinafter set forth with respect to redemption prior to maturity may be of become applicable Hereto. Interest on this Bond is payable to the registered owner
appearing on the registration books of the City at the close of business on the filicenth day ol,the month next preceding the interestpaynient dote,and shall be paid
to the registered owner at the address shown on such registration books. Interest shall he calcidated on the basis of a 360-day year comprised of twelve 30-day
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 201513(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated as of December 29;2015(the"Loin Agreen ant")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power plant and system(the"Utility"),
The Bonds are issued pursuant to and in strict compliance will,the provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds(tile"Resolution'),and refcerencc is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to.the source of payment of the Bonds and the rights of the owncrs of the Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If less than all of the Bonds of any like maturity are to be redeemed,the particul;;hit,,of'those Bonds to be redecined shall be selected by the Registrar
by lot. The Bonds may be called irk part in ono or more units;of S5,000. if lass than the wane principal ckniount of any Bond in a denomination of more than$5,000
is to be redeemed, the Registrar will issue and deliver to the registered owner thereof,upon surrender(if such original Band, a new Bond or Bonds,irk any
authorized denomination,in a folal oggregate principal amoulit equal to the unredeemed balance of the original Bond, Notice uf'such redemption as aforesaid
identifying the Bond or Bonds(or portion thereof)to tic redeemed shall be,sent by electronic means or by cortified mail to the registered owners thereof at Ole
addresses shown on the City's registranun books not less than 30 days prior tosuch redemption date. All of_stich Bounds as to which die City,reserves and exercises
the right of redemption and as to which notice as aforesaid shall have been give,,and for the redemption of which funds are duly provided,shall cease to(rear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations as may be hereafter issued mid outstanding from time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out of the future Net Revenues of tine Wility,a
sufficient portion of which has been ordered-set aside and pledged for that purlxasc, This Bond is not playable in any manner by taxation, and under no
circumstances shall the City be in any manner liable by reason ofthe failure ufflic said Net Revenues to be sufficient for the payment of{his Bond and the interest
hereon.
This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name ofthe owner on the books of the City in the office
of the Registrar,after which no transror shall be valid sinless made on said books and then only upon presentation cif this Bond to the Registrar,together with either
a written instrument of transfer satislaptory to tiie Registrar or the assignniont form hereon completed and duly executed by the registered owner or the duly
authorized attorney for such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shall not be affected by any notice to the contrary.
And It Is Hereby Certified,Recited and Declared that all acts,conditions and things required to exist,happen and be performed precedent to and in the
issuance of the Bonds have existed,have happened and have been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceed or violate any consitutional or statutory limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames,Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as of December 29,2015.
CITY OFN/AMES,IOWA
By. GL„ar. y/1 q,!!
Attest:
Mayor
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar
By �
CC;
Fre suer
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was du{y an operly tccorde in my office December 29,2015.
By —
City' r.asur Ames,Iowa
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State)
Additional abbreviations may also be usedthough not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
_......... _,____ _._._w.�.__._�..._.._._.....__.__._
Signatur._. es) must be guaranteed by an eligibl.l
e guarantor institution which is a
member of a recognized signature guarantee program.
NOTICE: The signature to this Assignment must correspond with the name of the
registered owner as it appears on this Bond in every particular,without alteration or
enlargement or any change whatever.
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
ELECTRIC REVENUE BOND,SERIES 2015B
No. 12 $940,000
RATE MATURITY DATE BOND DATE CUSIP
3,00% June I,2027 December 29,2015 030843 FR2
The City ofAmes(the"City"),in Story County,State of Iowa,for value received,promises to pay on the maturity date of this Bond to:
Cede&Co.
New York,NY
or registered assigns,the principal sum of
NINE HUNDRED FORTY THOUSAND DOLLARS
in Iawftil nmiwy of 1he Unitcd States of America upon presentation turd surrender of this Bond at the office of the City Treasurer,Ames,Iowa,(hereinafter referred
to as alrti'1ivcgk1otC or the"Paying,agent")with interest oil said sum,until paid,at the rate.pot&utnarn specified above from the date oft'his fiend,or from tite most
recent interest payment(late on which imcrest has been paid,on June I and December I of each year,commencing June 1, 2016,except as the provisions
hereinafter set forth with respect to redemption prior to maturity may be or bccornc applicable hereto. Interest oil this Bond is payable to the registered owner
appearing on the rcp; trtrtic+n hooks of the City at the close ol'business on the iiltoenth flay of the motult next preceding the interest payment date,and shall be paid
to the wgistewd owner ru the address shown on such rrgisiration books, lider"i shall be calculated oil die basis or 350-day year comprised oftwelve 3Usy
months.
This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar.
This Bond is one of a series of Electric Revenue Bonds,Series 2015B(the"Bonds")issued by the City to evidence its obligation under a certain Loan
Agreement,dated.as of December 29,2015(the"Loan Agrccmcnt")entered into by the City for the purpose of paying the cost,to that extent,of constructing
improvements to the municipal electric light and power plant and system(the"Utility").
The Bonds are issued pursuant to and in strict compliance with tile provisions of Chapter 384 of the Code of Iowa,2015,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the Loan Agreement and providing for the
issuance and securing the payment of the Bonds(tire"Resolution"} and reference is hereby made to the Resolution and the Loan Agreement for a more complete
statement as to the source of payment of the Bonds and the rights of the owners ofthe Bonds.
The City reserves the right to prepay part or all of the principal of the Bonds maturing in each of the years 2024 to 2027,inclusive,prior to and in any
order of maturity on June 1,2023,or on any date thereafter upon terms of par and accrued interest.
If lass than all of the Bonds of any like maturity are to be redeemed,the particular part of those Bonds to he redeemed shall be selected by the Registrar
by lot. 'I lie Bonds unary be culled in part in one(nr more un w;of$5,000. If less(hall the cruirc principal amount of any Borxl in a denomination of more'Ilion$5,000
is to be.redcenii d, the Registrar will issue and deliver to die registered owner thereof,ulaon surrender of such original Bond,a new Solid or Bonds, in any
authorized denomination,in it total aggregate principal amount equal to the unrcdeemaed ba)antc ofthe original Bond. Notice of such redemption as aforasaid
identifying the Bond or Bonds(or portion thereof)to be redeemed shall be sent by electronic means or by certified mail to die registered owners tht:reof at tiro
addresses shown on the City's registration books not less;than 30 days prior to Stich redcmption data;. All of such Bonds as to which the City reserves and exercises
the right of redemption and as to which notice as aforesaid shall have bunt given and for tits;redemption of which funds are duly provided,shall cease to bear
interest on the redemption date.
The Bonds are not general obligations of the City but,together with any additional obligations as Gray be hereafter issued and outstanding froth time to
time ranking on a parity therewith under the conditions set forth in the Resolution,are payable solely and only out of the future Net Revenues of the Utility,a
sufficient portion of which has been ordered set aside and pledged for that purpose. This Bond k not payable in any manner by taxation, and under no
circumstances shall the City be in any manner liable by reason of the failure of the said Net Revenues to be sufficient for dot payment of this Bond and die interest
hereon.
This Bond is ftallyr ii ego bablc but shall be fully registered its to both principal and interest in the name of the owner on the books ofthe City in the office
of the Registrar,after which no mimier Shall be valid uutcss ntatdc oil said books and than only,upon presentation of this Bond to the Registrar,wgedrer with either
a written instrument of transfer satisfoctany to the Registrar or the a sigrnrnttlt form heroin completed and duly executed by the registered owner or the duly
authorized.attorney for such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered owner hereof as the absolute owner for the purpose of receiving
payment of or on account of principal hereof,premium,if any,and interest due hereon and for all other purposes,and the City,the Registrar and the Paying Agent
shot I not be affected by any notice to the contrary.
And It Is Hcivtay Certified,Recited and D dared that all acts,conditions and things required to exist,happen and be performed procedent to and in the
issuance of the Bonds Iris c cxistcJ,have happcsied acrid have been performed in due time,form and manner,as required by law,and that the issuance of the Bonds
does not exceCd or violate aany conaittuional,air s,uautnry limitation or provision.
IN TESTIMONY WHEREOF,the City of Ames, Iowa,by its City Council,has caused this Bond to be executed with the duly authorized facsimile
signature of the Mayor and attested with the duly authorized facsimile signature of the City Clerk,all as ofDecember 29,2015.
CITY OF/AMES,IIO,W/AC
Attest: G( t)6'
By �-r4 ..,
. .........
Mayor
City Clerk
Registration Date: December 29,2105
REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within-mentioned Resolution.
CITY TREASURER
Ames,Iowa
Registrar BY 1s i
City''I ast er
STATE OF IOWA
STORY COUNTY SS: CITY TREASURER'S CERTIFICATE
CITY OF AMES
The original issuance of the Bonds,of which this Bond is a part,was duly: prprtr,Aln
ccorded in my office as of December 29,2015,
BY ity'r a , ,lows
ABBREVIATIONS
The following abbreviations, when used in this Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM as tenants in common UTMA
(Custodian)
TEN ENT as tenants by the entireties As Custodian for
TEN as joint tenants with (Minor)
right of survivorship and under Uniform Transfers to Minors Act
not as tenants in common
(State).
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration,receipt of which is hereby acknowledged,the undersigned assigns this Bond to
(Please print or type name and address of Assignee)
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint Attorney;to transfer this Bond on the books kept for registration thereof with full
power of substitution.
Dated:
Signature guaranteed:
Signature(s) must be guaranteed by an eligible guarantor institution which is a
member of a recognized signature guarantee program.
NO ICE: The signature to this Assignment must correspond with the name of the
registered owner its it appcars on this Bond in every particular,without alteration or
enlargctvtcnt or any cluurge whatever.