HomeMy WebLinkAboutA006 - Notice of Proposed Action published January 12, 2018 Page 1
NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT
IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,001,000
(SEWER REVENUE)
The City Council of the City of Ames, Iowa, will meet on January 23, 2018, at the City
Hall Council Chambers, at 6:00 o'clock p.m., for the purpose of instituting proceedings and
taking action to enter into a loan and disbursement agreement (the "Agreement") and to borrow
money thereunder in a principal amount not to exceed $1,001,000, for the purpose of paying the
cost, to that extent, of planning, designing and constructing improvements and extensions to the
City's Municipal Sanitary Sewer System.
The Agreement will not constitute a general obligation of the City, nor will it be payable
in any manner by taxation but, together with the City's outstanding Sewer Revenue Bond, SRF
Series 2012, dated November 16, 2012; Taxable Sewer Revenue Bond, SRF Series 2016, dated
September 30, 2016; and any additional obligations of the City as may be hereafter issued and
outstanding from time to time ranking on a parity therewith, will be payable solely and only from
the Net Revenues of the Municipal Sanitary Sewer System of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Agreement. After receiving objections, the City may determine to enter into the
Agreement, in which case, the decision will be final unless appealed to the District Court within
fifteen(15) days thereafter.
By order of the City Council of the City of Ames, Iowa.
Diane Voss
City Clerk