HomeMy WebLinkAboutA010 - Letter to Story County Auditor dated September 15, 2016 ' L
a•?n.:: L I i L
Ame s...
Smart Choice
September 15, 2016
Ms. Lucy Martin
Story County Auditor
900 Sixth Street
Nevada, Iowa 50201
RE: Ames, Iowa
General Obligation Corporation Purpose and Refunding Bonds, Series 2016A
Dear Lucy:
Enclosed please find a certified copy of Resolution 16-518, which was adopted by the Ames City
Council on September 13, 2016, authorizing the issuance of the above-referenced Bonds. Please
sign the Certificate verifying the filing of same and return in the enclosed self-addressed,
stamped envelope.
If you have any questions, please call me. Thank you for your assistance!
Sincerely,
Diane Voss
City Clerk
/dry
Enclosures
City Clerk's Office 515.239,5105 main 515 Clark Ave.,P.O.Box 811
515.239.5142 fox Ames,IA 50010
www.CityofAmes.org
CITY O7
Ames
Smart Choice
September 13, 2016
STATE OF IOWA
COUNTY OF STORY
CITY OF AMES
I, Diane R. Voss, being the duly appointed City Clerk of the City of Ames, Iowa, do hereby certify
that the above and foregoing Resolution No. 16-518 is a true and accurate copy of the said Resolution,
and that the said Resolution was passed and adopted by the City Council of the City of Ames, Iowa,
at a duly called meeting thereof on the 131h day of September, 2016.
Diane R. Voss,~City Clerk
(SEAL)
City Clerk's Office 515.239.5105 main 515 Clark Ave.,P.O.Box 811
515.239.5142 fax Ames,IA 50010
www.CityofAmes.org
Ames/419370-56%2016AGO lssnc;
RESOLUTION NO. 16-5 18
Resolution authorizing the issuance of Sl 1.650.000 General Obligation Corporate Purpose and
RefttndinL, Bonds, Series 2016A and providing for the levy of taxes to pay the same
WHEREAS, the City of Ames (the "City_ "). in Story County. State of Iowa. has
heretofore proposed to enter into a General Obligation Loan Agreement (the "Loan
Agreement"), pursuant to the provisions of Section 384.24A of the Code of Iowa. for the purpose
of paying the cost. to that extent. of constructina street, water main., sanitary and storm sewer,
bridge. and related improvements, of carrying out flood mitigation and remediation, and of
refunding the outstanding balance of the City's General Obligation Corporate Purpose Bonds..
Series 2008A. and has published notice of the proposed action and has held a hearing thereon:.
and
WHEREAS_ pursuant to advertisement of' sale.. bids for the purchase of General
Obligation Corporate Purpose and Refunding Bonds.. Series 2016A (the `Bonds") to be issued in
evidence of the City�s obligation under the Loan Agreement were received and canvassed on
behalf of the Cite, and
WHEREAS. upon recommendation of the City's municipal advisor. the Bonds were
awarded to Robert V . Baird L, Co.. Inc.. 1Vliiwauicee. Wi (the "'Purchaser"), and
WHEREAS, it is now necessary to take action to authorize the issuance of the Bonds.
NOVA'. THEREFORE. Be It Resoived by the Cite Council of tht City of Ames. Iowa. as
follows:
Section The. Bonds are hereby authorized to be issued in evidence of tilt obligation
of tflt und,i the Loan Agl-Bement. in the total a'LLyrtgatt principal amounl of Sl 1.6J0.000. to
be dated Semembe_, 2. . 20i 6. in the denomination of S-5.000 each. or an- integral multiple
thereof_ maturinL, or. June i in eaci, of the years_ in tilt respectivet principal amounts and bcarinLi
interest at the respective rates. as follows.
Principal Interest Rate Principal interest Irate
lea Arnotllhi Pe. =url-, Y ar Amount Pe Ann=
2017 S1.270,000 2.000/0 202- S740.000 2.00('ii
0018 S>1340.000 5.000/0 2024 S>T50.000 3.000/o
2019 S1.410.000 51.000/ 2025 S 775.000 3.000/
2020 S 1.480.000 5.00(iu 2026 S800.000 3.00�C
2021 S700.000 �.00°0 202; S825.00(l 3.000/0
2022 S715.000 3.00% 2028 S8^5.000 2.001i�,
The Cir- Treasurer. Ames. Iowa. is hereny designated as the Registrar and PavinL Agen:
Ior tnt Bonds and may be nertinaner rcftrrtd to as the ` Remsirar' oi-the "Pav=, A�Llcm.
DORSEI & WHITNEY LLP.ATTORNEY'-.DES MOINE . IOWf�
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The Citv reserves the right to prepay part or all of the Bonds maturing in each of the
years 2025 to 2028, inclusive.. prior to and in any order of maturity on June 1, 2024, 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 particular part of
those Bonds to be redeemed shall bee selected by the Registrar by lot. The Bonds may be called
in part in one or more units of$5.000. If less than the entire principal amount 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 of such original Bond, a new Bond or Bonds. in any
authorized denomination. 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 thereof) to be redeemed shall be sent by electronic means or mailed by certified mail to
the registered owners thereof at the addresses shown on the City's registration books not less
than 30 days prior to such redemption date. Any notice of redemption may contain a statement
that the redemption is conditioned upon the receipt by the Paying Agent of funds on or before the
date fixed for redemption sufficient to pay the redemption price of the Bonds so called for
redemption, and that if funds are not available, such redemption shall be cancelled by written
notice to the owners of the Bonds called for redemption in the same manner as the original
redemption notice was sent. 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 been given and for the
redemption of which funds are duly provided. shall cease to bear interest on the redemption date.
Accrued interest on the Bonds shall be payable semiannually on the first day of June and
December in each vear. commencin<_, .lunt 1. 2017. Interest shall be calculated on the basis of a
360-day year comprised of twelve 30-da\ months. Payment of interest on the Bonds shah' be
made to the registered owners apDcaring on the registration books of the City at the close of
business on the fifteenth day of the month next preceding tht interest payment datet and shall b:
t7aid to tilt registered owners at the addresses shown on such registration books. Principal of the
Bonds shall be payable in lawful money of the united States of America to the registered owners
or their legal representatives upon presentation and surrender of the Bond or Bonds at the offlc
of the Paving Agent.
The Bonds shall be executed on behalf of the Cite with the official manual or facsimile
signature of the flavor and attested with the official manual or Iacsimilt signature of the QTt
CieriL and shall bt fully registered: Bonds without interest coupons. In case an\ offices whose
signature or the facsimile of whose signature appears on the Bonds shall ceasee to be such office-,
before the delivery of the Bonds. such signature or such facsimile signature shall nevertheless be
valid and sufficient for all purposes. the same as if such officer had remained in office until
delivery,
The Bonds shall not be valid or become obligatory for any purpose until the Certificate.of
Authentication thereon shall have been signed by the Registrar.
The Bonds shall be fuliv registered as to principal and interest in the names of the owners
oil the registration books of the City kept by the Registrar. and after such registration, payment of
tilt principal thereof and interest thereon shall bt made only to the registered owners or their
legal representatives or assigns. Each Bond shall be transferablt oniy upon the registration
DORSEY L WHITINTEY LLP.ATTORNEYS.DES MOINES,IOVIA
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books of the City upon presentation to the Registrar, together with either a written instrument of
transfer satisfactory to the Registrar or the assignment form thereon completed and duly
executed by the registered owner or the duly authorized attorney for such registered owner.
The record and identity of the owners of the Bonds shall be kept confidential as provided
by Section 22.7 of the Code of Iowa.
Section 2. Notwithstanding anvthing above to the contrary, the Bonds shall be issued
initially as Depository Bonds, with one fully registered Bond for each maturity date. in principal
amounts equal to the amount of principal maturing on each such date. and registered in the name
of Cede & Co.. as nominee for The Depository Trust Company. New York,New York ("DTC").
On original issue, the Bonds shall be deposited with DTC for the purpose of maintaining a book-
entry system for recording, the ownership interests of its participants and the transfer of those
interests among its participants (the "Participants"). In the event that DTC. determines not to
continue to act as securities depository for the, Bonds or the City determines not to continue the
book-entry system for recording ownership interests in the Bonds with DTC, the City will
discontinue the book-entry system with DTC. If the City does not select another qualified
securities depository to replace DTC (or a successor depository) in order to continue a book-
entry system. the City will register and deliver replacement Bonds in the form of fully registered
certificates, in authorized denominations of S5.000 or integral multiples of S5,000, in accordance
with instructions from Cede L Co... as nominee for DTC. In the event that the City identifies a
qualified securities depository to replace DTC.. the City will register and deliver replacement
Bonds, fully registered in the name of such depository, or its nominee., in the denominations as,
set forth above. as reduced from time to time prior to maturitv in connection with redemptions or
retirements by call or pavment. and in such event_ such depository will then maintain the book-
entry system for recordin<_- ownership interests in the Bonds.
Ownership interests in the Bonds may be purchased by or tiv-ough Participants. Such
Participants and the persons foI- whom they acquire interests in the Bonds as nominees will not
receive certificated Bonds. but each such Participant wili receive a credit balance ire the records
of DTC in the amount of such Participant's interest in the Bonds. which will be confirmed in
accordance with DTC's standard procedures. Each such person for which a Participant has an
interest in the Bonds. as nominee. mad desire to make arrangements with such Participant to
have all notices of redemption or other communications of the City to DTC. which may affect
such person. forwarded it: writing by such Participant and to have notification made o-j all
interest payments.
The Cite will have no responsibilit-, ar obligation to such Participants or the persons for
whom they act as nominees with respect to payment to or providing of notice for such
PaniciDants or the persons for whom tnty act as nominees,
As used Therein. the term `Beneficial Owner" shall hereinafter be deemed to include the
person for whom the Participant acquires an interest in the Bonds.
DTC will receive payments from the Cite. to be remitted b� DTC to the Participants for
subsequent disbursement to the Beneficial Owners. The ownership interest of each Beneficia
DORSEY& WHITNEY LLP.ATTORNEYS,DES MOINES. IOWA
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Owner in the Bonds will be recorded on the records of the Participants whose ownership interest
will be recorded on a computerized boot:-entry system kept by DTC.
When reference is made to any action which is required or permitted to be taken by the
Beneficial Owners, such reference shall only relate to those permitted to act (by statute,
regulation or otherwise) on behalf of such Beneficial Owners for such purposes. When notices
are given, they shall be sent by the City to DTC, and DTC shall forward (or cause to be
forwarded) the notices to the Participants so that the Participants can forward the same to the
Beneficial Owners.
Beneficial Owners will receive written confirmations of their purchases from the
Participants acting on behalf of the Beneficial Owners detailing the terms of the Bonds acquired.
Transfers of ownership interests in the Bonds will be accomplished by book entries made by
DTC and the Participants who act on behalf of the Beneficial Owners. Beneficial Owners will
not receive certificates representing their ownership interest in the Bonds. except as specifically
provided herein. interest and principal will be paid when due. by the City to DTC, then paid by
DTC to the Participants and thereafter paid by the Participants to the Beneficial Owners.
Section 3. The Bonds shall be in substantially the following form:
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DORSEY L WHITNEY 1'.ATTORNEYS,DES MOINES. IOWA
Ames/419370-56/2016AGO]ssnc.
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF IOWA STORY COUNTY
CITY OF AMES
GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING BOND,
SERIES 2016A
No. S
RATE MATURITY DATE DATE CUSIP
°i0, June 1. September 27. 2016 030807
The Cite 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.
Nev- York. NY
or registered assigns. the principal sum of
DOT LARS
in lawful money of the United States of America upon presentation and surrender of this Bond a:
the office of tine Cite Treasurer. Ames. Iowa. (hereinafter referred to as the "Registrar- or the
F aying Agent"). with interest on said sum. until Maid.. at the rate per annun; specified above.
from the date of this Bond. or from tilt most recent interest payment date on which interest has
been paid, on .rune 1 and Decembe.- i of each vear_ commencing June 1. 2017. except as the
provisions hereinafter set forth witin respect to redemption prior to maturiT\ ma• bt 01, become
applicable hereto. Interest on this Bond is payable to the registered owner appearim on the
registration books of the City at the close of business on the fifteenth day of the month next
preceding_ the interest payment date. and shall be paid t0 the registered owner a the address
shown on such registration books. interest shall be calculated on the basis o L 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 1S one or a series of General Obligation Corporate Purpose and Refunding
Bonds. Series 2016A (the `Bonds") issued by the CiTy in the principal amount of S1 1,650.000. to
evidence its obligation under a certain loan agreement. dated as of September 20]6 (tile
"Loan Agreement"). entered into b- the CiTV for the purposes of paving the cost. to that extent.
of constructing street.. water mail:. sanitary and store: sewer. bridge. and related improvements:
DOPSEY&WHTTNEY LLP.ATTORNEYS.DES MONIES. 10WF.
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of carrying out flood mitigation and remediation. and of refunding the outstanding balance of the
City's General Obligation Corporate Purpose Bonds, Series 2008A.
The Bonds are issued pursuant to and in strict compliance with the provisions of
Chapters 76 and 384 of the Code of Iowa. 201:5. and all other laws amendatory thereof and
supplemental thereto., and in conformity with a resolution of the City- Council adopted and
approved on September 13. 2016. authorizing and approving the Loan Agreement and providing
for the issuance and securing the payment of the Bonds (the "Resolution"). and reference is
herebv 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. Citv reserves the right to prepay part or all of the Bonds maturing in each of the
years 2025 to 2028. inclusive, prior to and in any order- of maturity on June 1. 2024. 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 particular- part of
those. Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may- be called
in part in one or more traits of$5.000. If less than the entire principal amount 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 of such original Bond, a new Bond or Bonds. in any
authorized denomination.. in a total aggregate principal amount equal to the unredeemed balance
of the original Bond. Notict of such redemption as aforesaid identifving the Bond or Bonds (or
portion thereof) to be redeemed shall be sent by electronic means or mailed by certified mail to
the registered owners thereof at the addresses shown on the Citv's registration books not less
than 30 days prior to such redemption date. Any notice of redemption may contain a statement
that thee redemption is conditioned upon the receipt by the Paving Agent of funds on o7 before the
date fixed fo. redemption sufficient to pay the redemption price of the. Bonds so called for
redemption. and that if funds are not available. such redemption shall be. cancelied b,, written
notice to the owners of the Bonds called for redemption in the same manner as the original
redemption notice was sent. All of such Bonds as to which the Cite reserves and exercises the
right of redemption and as to wihici, notice as aforesaid shall have been giv--r. and for the
redemption of whhich funds are duly provided. shall cease to bear interest on the redemption date.
This Bond is fully negotiable but shall be fully reL inter ed as to both principal and interest
in the name of the owner on the boors of the C-11y in tihe office of tilt Registrar, after whici, no
transfer shall be valid unless made. or, said books and then oniv 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 dui executed by the registered owner or the duly
authorized attorney for such registered owner.
The Cite. the Registrar and the Paving Agent mad deem and treat the registered o\vmer
hereof as the absolute owner for the purpose 0, receiving payment of or on accoun` of principal
hereof, premium. if any. and interest due hereon and for all other purposes, and the Cite. till,
Registrar and the Paving, Agent shall not fie affected by ariv notice to the contrary.
DOPSEY WHITNEY LLY'.ATTORNEYS.DES MONIES.IOWA.
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And It Is Hereby Certified and Recited that all acts, conditions and things required by the
laws and Constitution of the State of Iowa, to exist. to be had. to be done or to be performed
precedent to and in the issue of this Bond were and have been properly existent. had. done and
performed in regular and due form and time:. that provision has been made for the levy of a
sufficient continuing annual tax on all the taxable properly within the City for the payment of the
principal of and interest on this Bond as the same will respectively become due: and that the total
indebtedness of the City, including this Bond. does not exceed any constitutional or statutory
limitations.
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 its Mayor and attested
with the duly authorized facsimile signature of its City Cleric, all as of September 7. 2016.
CITY OF AMES. 10WA
By(DO NOT SIGN)
Mayor
Attest:
By (DO NOT SIGN)
City Cierl':
Registration Date: (Registration Date;
P.EGISTI�AR'S CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the «,itiiin-mentioned Resolution
C11� TRE,ASUREP,
Ames. Iowa
F<e�Tistrar
B� (Authorized Si Lmanire
Cite Treasurer
YORSE, L WHITNEY LLP. ATTORNEYS,DES MOfNES. 10WH.
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ABBREVIATIONS
The following abbreviations. when used in this Bond, shall be construed as though they
were written out in full according to applicable laves or regulations:
TEN COM - as tenants in common UTMA
TEN ENT - as tenants by the entireties (Custodian)
JT TEN - as joint tenants with right of As Custodian for
survivorship and not as (Minor)
tenants in conunon under uniform Transfers to Minors Act
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGNMENT
For valuable consideration. receipt of which is hereby acknowied(yed.. the undersigned
assignzs this Bond to
(Please print or type name and address of Assignee;
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does berciny irrevocabiy appoint . Attorney,. to transfer
this Bond on the books Dept for reLnsn-aiion tnereo;with full power of sulDstitution.
Dated:
Signaturt.) guaranteed:
(Signature guarantee must be. provided ir, accordance
with the prevailing standards and procedures o` tine
Reaistrar and Transfer AUen: Such standard_ and
procedures may require signatures to 'tie guaranteed rn
cer[ain eligible auarantor institutions that oanicipate in
a recognized signann•e guarantee program.
NOTICE: The signatur_ lu this 4�ssi=rnrnenT must
correspond with the nam: o' the registered ownr as
it appear: on this Bond in ever\ particular. witnou;
alteration or enlargement or am chance whatever.
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DORSE) L WHITNEY LLF.ATTORN-YS.DES MOINES.fOWF.
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Section 4. The Bonds shall be executed as herein provided as soon after the adoption
of this resolution as may be possible, and thereupon they shall be delivered to the Registrar for
registration, authentication and delivery to or on behalf of the Purchaser. upon receipt of the loan
proceeds. and all action heretofore taken in connection with the Loan Agreement is hereby
ratified and confirmed in all respects.
Section 5. For the purpose of providing for the levy and collection of a direct annual
tax sufficient to pay the principal of and interest on the Bonds as the same become due, there is
hereby ordered levied on all the taxable property in the City in each of the years while the Bonds
are outstanding, a tax sufficient for that purpose, and in furtherance of this provision, but not in
limitation thereof,, there is hereby levied on all the taxable property in the Citv the following
direct annual tax for collection in each of the following fiscal years:
For collection in the fiscal year beginning July 1, 2017.
sufficient to produce the net annual sum of S1.720,150:
For collection in the fiscal year beginning July 1, 2018,
sufficient to produce the net annual sum of S 1,723.150,
For collection in the fiscal year beginning July 1. 2019.
sufficient to produce the net annual sum of S 1,722.650,
For collection in the fiscal year beginn n(I Jule 1. 2020.
sufficient to produce the net amival sum of S868.650:
For collection in the fiscal year beginning Juiv i. 2021.
sufficient to produce the net annual sum 0fS862.650:
FOI- collection in the fiscal year beginning* .iuJN 1. 202
sufficient to produce tine net annual sum of S866.200.
For coliection in the fiscal vear beginning Jui� 1_ ?0__.
sufficient to produce the net annual sum of S861.400.
For coliection in the fiscal vear beginning Jui� 1. '1024.
suf lcient to produce the net annual sum of 58633 900:
ror collection in the fiscal vear beginning July 1. 20"
sufficient to produce.the net annual sum of S865 650.
For collection in the fiscal year beginning July 1. 2026.
sufficient to produce the net annual. sum of S866.650:
For coliection in the fiscal vear beginiingr .luny 1. 2027.
sufficient to produce the net anmual sum of S861.900.
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DORSEY L, WHITNEY LLP.ATTORNEYS.DES MOINES. IOWA
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Section 6. A certified cope of this resolution shall be filed with the County Auditor
Of Store County., and the County Auditor is hereby instructed to enter for collection and assess
the tax hereby authorized. When annually entering'
such taxes for collection, the County_ Auditor
shall include the same as a part of the tax levy for Debt Service Fund purposes of the Citv and
when collected. the proceeds of the taxes shall be converted into the Debt Service Fund of the
Cite and set aside therein as a special account to be used solely and only for the payment of the
principal of and interest on the Bonds hereby authorized and for no other purpose whatsoever.
Anv amount received by the City as accrued interest on the Bonds shall be deposited into such
special account and used to pay interest due on the Bonds on the first interest payment date.
Pursuant to the provisions of Section 76.4 of the Code of Iowa. each year while the
Bonds remain outstanding and unpaid. any funds of the Cite which may lawfully be applied for
such purpose may be appropriated. budgeted and, if' received, used for the payment of the
principal of and interest on the Bonds as the. same become due. and if so appropriated. the. taxes
for any liven fiscal year as provided for in Section 5 of this Resolution, shall be reduced by the
amount of such alternatee funds as have been appropriated for said purpose and evidenced in the
City`s budget.
Section 7. The interest or principal and both of them falling, due in any year or years
shall, if necessar} be paid promptly from current funds on hand in advance of taxes levied and
when the taxes shall have been collected, reimbursement shall be made to such current funds in
the sum thus advanced.
Section &. 1 i . the intention of the City that interest on the Bonds be and remain
excluded from gross income for federal income tax purposes pursuant to the appropriat
Drov]S10I1S Of the internal Revenue Code of 1956. as amended. and the ireasur� Renulations in
effect witl.� aspect thereto (all of the foreLToin�_ herein refer ed to as the "lntenhal T:evenu,
Code'';. In furtherance thereof: tihe Cite In
to comj)�v with the provisions O �the lnternal
Revenue Coae as ti�eN ma�� from time to time b° ir. effect or amended and further covenants to
conhply wxjlh the applicable future laWS. re<_=.ulations, pubiisihed ruIin<_s�and court decision.; as m.r.
be necessarN to insure that the interest on the Bonds «il; remam excludes: from LTross income to'.
federal In.Ome tag: purposes. Any and al: of ti7, officers of the Ciro a1: ticreh� authorized anti
directed to take and and all actions as may be ntcessan to comply with the covenants hercir;
contained.
Section 9. The Securities and BxchanLt! Commission (the -SBC"'; iha< promuigatesi
ccrtan7 amend cnt to Rule 1Jc2-12 under the Sccuri res Lxcnan<_=e Act of 1c)" ;1
�4U.16c�-11) (the `Rule"i that make is uniawfui for an underwriter in participate ir, the primary
offerin__, of municipal securities in a principal amount of S 1.000.000 or more unless. before
subinittin- a bid o; enterin�� into a purchase contract for such securities. an underwrite_ has
reasonabh determined that the issue:- or an obiizated person as undertaken in writinL� for the
benefit of tihe holders of sucl-, securities to provide certain disclosure information to prescribed
information repositories on a cominuim:basis SO ionL, as sucih securities are outstandinL-.
DORSE`, L WH1TNE1 LLP. ATTORNEYS- DES MOINE�. IOWA
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On the date of issuance and delivery of the Bonds, the City will execute and deliver a
Continuin.o Disclosure Certificate pursuant to which the City will undertake to comply with the
Rule. The City covenants and agrees that it will comply with and carry out the provisions of the
Continuing Disclosure Certificate. Any and all of the officers of the City are hereby authorized
and directed to take any and all actions as may be necessary to comply with the Rule and the
Continuing Disclosure Certificate.
Section 10. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved September 13. 2016.
Mayor
Attest:
City Cierk
DORSEY L WHITNEY LLi.ATTORNEYS.DES MOINES,IOWA