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Home My WebLink AboutA039 - Bond No. R-1 dated February 19, 2021 - $5,107,055.19 UNITED STATES OF AMERICA STATE OF IOWA STORY COUNTY CITY OF AMES TAXABLE SEWER REVENUE IMPROVEMENT AND REFUNDING BOND,SERIES 2021 No.R-1 $5,107,055.19 RATE MATURITY DATE BOND DATE 0.86% June 1,2038 February 19,2021 The City of Ames (the"City"), in Story County, State of Iowa, for value received, promises to pay from the source and as hereinafter provided on the maturity date of this Bond,to IOWA FINANCE AUTHORITY or registered assigns,the principal sum of FIVE MILLION ONE HUNDRED SEVEN THOUSAND FIFTY-FIVE DOLLARS AND NINETEEN CENTS. Interest at the rate specified above shall be payable semiannually on June 1 and December 1 of each year,commencing June I,2021,and principal shall be due and payable in installments in the amounts shown on the Principal Payment Schedule,attached hereto as Exhibit A,on June 1, 2021, and annually thereafter on June 1 in each year until the principal and interest are fully paid, except that the final installments of the entire balance of principal and interest,if not sooner paid,shall become due and payable on June 1,2038. Interest shall be computed on the basis of a 360- day year of twelve 30-day months. The City Clerk shall act as Registrar and Paying Agent and may be hereinafter referred to as the"Registrar"or the"Paying Agent." Payment of the principal of and interest on this Bond and premium, if any, shall be payable at the office of the Paying Agent to the registered owners thereof appearing on the registration books of the City at the addresses shown on such registration books. All such payments, except full redemption,shall be made to the registered owners appearing on the registration books at the close of business on the fifteenth day of the month next preceding the payment date. Final payment of principal shall only be made upon surrender of this Bond to the Paying Agent. This Bond is one of a series of bonds(the"Bonds")issued by the City to evidence its obligation under a certain Loan and Disbursement Agreement,as amended,dated the date hereof(the"Agreement")entered into by the City for the purpose of providing funds to pay a portion of the cost of(1)current refunding the City's outstanding Taxable Sewer Revenue Bond,SRF Series 2018-2,dated October 19,2018;and(2)constructing a certain water resource restoration project(the"Project"). The Bonds are issued pursuant to and in strict compliance with the provisions of Sections 384.24A and 384.83 of the Code of Iowa,2019, and all other laws amendatory thereof and supplemental thereto,and in conformity with a resolution of the City Council authorizing and approving the 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 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 Bonds shall be subject to optional redemption by the City at a price of par plus accrued interest(i)on any date with the prior written consent of the Iowa Finance Authority, or(ii)in the event that all or substantially all of the Project is damaged or destroyed. Any optional redemption of the Bonds by the City may be made from any funds regardless of source,in whole or from time to time in part,in inverse order of maturity upon not less than thirty(30)days'notice of redemption by facsimile,e-mail,certified or registered mail to the Iowa Finance Authority(or any other registered owner of the Bonds). The Bonds are also subject to mandatory redemption as set forth in Section 5 of the Agreement. The Bonds are not general obligations of the City 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;Taxable Sewer Revenue Bond,SRF Series 2018, dated February 16,2018;and 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(as defined in the Resolution)of the Utility of the City,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 Revenues to be sufficient for the payment of this Bond and the interest thereon. 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 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 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 constitutional or statutory limitation or provision. IN TESTIMONY WHEREOF,the City of Ames,Iowa,has caused this Bond to be executed by its Mayor and attested by its City Clerk,all as of the Bond Date. CITY AS,IOWA By — Mayor Attest: City Clerk 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 and properly recorded in my office as of the Bond Date. City Treasure 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 (Custodian) JT TEN as joint tenants with right of As Custodian for survivorship and not as tenants in (Minor) common 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 acknowledged,the undersigned assigns this Bond to I (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: I I 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. EXHIBIT A PRINCIPAL PAYMENT SCHEDULE Datc Date June 1 Amount June I Amount 2021 $241,055.19 2030 $286,000.00 2022 $262,000.00 2031 $289,000.00 2023 $265,000.00 2032 $292,000.00 2024 $267,000.00 2033 $295,000.00 2025 $270,000.00 2034 $299,000.00 2026 $273,000.00 2035 $302,000.00 2027 $277,000.00 2036 $305,000.00 2028 $280,000.00 2037 $309,000.00 2029 $283,000.00 2038 $312,000.00 I I I