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Home My WebLink AboutA008 - Completed proceedings from Dorsey & Whitney dated September 28, 2018 CITY OF A m e s.M Smart Choice September 28, 2018 Dorsey & Whitney LLP 801 Grand, Suite 4100 Des Moines, Iowa 50309 Attention Robert E. Josten RE: Ames, Iowa - $5,700,000 SRF Sewer Revenue Loan and Disbursement Agreement Your File No. 419370-63 Dear Mr. Josten: Enclosed please find: 1. Completed proceedings from the September 11, 2018, City Council meeting setting the date of hearing on the proposal to enter into the SRF Sewer Revenue Loan and Disbursement Agreement. Included as part of the proceedings is the Publisher's Affidavit confirming the publication of the Notice of Public Hearing. 2. Reimbursement Regulation Resolution No. l 8-528 adopted by the City Council on September 11, 2018 3. Competed proceedings from the September 25, 2018, City Council meeting when the hearing was held and Resolution No. 18-555 was adopted approving entering into the Agreement in the future and constituting the "additional action" required by the Iowa Code. Thank you. Sincerely, _ Diane R. Voss City Clerk /dry Enclosures Ames/419370-63/1'/z-Sewer Rev MINUTES TO SET DATE FOR HEARING ON ENTERING INTO A LOAN AND DISBURSEMENT AGREEMENT (SRF Sewer Revenue) 419370-63 (N/I) Ames, Iowa September 11, 2018 The City Council of the City of Ames, Iowa, met on September 11, 2018, at 6:00 o'clock p.m., at the City Hall Council Chambers, in the City. The Mayor presided and the roll was called showing the following members of the Council present and absent: Present: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson. Absent: None. Council Member Beatty-Hansen introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Gartin; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of the said resolution and the roll being called, the following named Council Members voted: Ayes: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson. Nays: None. Whereupon, the Mayor declared the resolution duly adopted as follows: -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/4193 70-63/1"%-Sewer Rev RESOLUTION NO. 18-517 Resolution to fix a date for a public hearing on proposal to enter into a Sewer Revenue Loan and Disbursement Agreement and to borrow money thereunder in a principal amount not to exceed $5,700,000 WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, did heretofore establish a Municipal Sanitary Sewer System (the "Utility") in and for the City which has continuously supplied sanitary sewer service in and to the City and its inhabitants since its establishment; and WHEREAS, the management and control of the Utility are vested in the City Council (the "Council") and no board of trustees exists for this purpose; and WHEREAS, pursuant to a prior resolution of the Council, the City has heretofore issued its $3,121,000 Sewer Revenue Bond, SRF Series 2012, dated November 16, 2012 (the "Series 2012 Bond"), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council, the City has heretofore issued its $797,000 Taxable Sewer Revenue Bond, SRF Series 2016, dated September 30, 2016 (the "Series 2016 Bond"), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council, the City has heretofore issued its $1,001,000 Taxable Sewer Revenue Bond, SRF Series 2018, dated February 16, 2018 (the "Series 2018 Bond"), a portion of which remains outstanding; and WHEREAS, pursuant to the resolutions (the "Outstanding Bond Resolutions") authorizing the issuance of the Series 2012 Bond, the Series 2016 Bond and the Series 2018 Bond (collectively, the "Outstanding Bonds"), the City reserved the right to issue additional obligations payable from the net revenues of the Utility and ranking on a parity with the Outstanding Bonds under the terms and conditions set forth in the Outstanding Bond Resolutions; and WHEREAS, the City now proposes to enter into a Sewer Revenue Loan and Disbursement Agreement (the "Agreement") and to borrow money thereunder in a principal amount not to exceed $5,700,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Utility (the "Project"), and it is necessary to fix a date of meeting of the Council at which it is proposed to take action to enter into the Agreement and to give notice thereof as required by such law; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as follows: Section 1. This City Council shall meet on September 25, 2018, at the City Hall Council Chambers, in the City, at 6:00 o'clock p.m., at which time and place a hearing will be held and proceedings will be instituted and action taken to enter into the Agreement. -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1'%-Sewer Rev Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Agreement setting forth the amount and purpose thereof, the time when and place where the said meeting will be held, by publication at least once, not less than four (4) and not more than twenty (20) days before the meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: -3- DORSEY &WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/151%-Sewer Rev NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $5,700,000 (SEWER REVENUE) The City Council of the City of Ames, Iowa, will meet on September 25, 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 $5,700,000 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; Taxable Sewer Revenue Bond, SRF Series 2018, dated February 16, 2018; 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 -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1'%-Sewer Rev Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved September 11, 2018. Mayor Attest: A OA City Clerk On motion and vote, the meeting adjourned. Mayor Attest: City Clerk -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1'/z-Sewer Rev ATTESTATION CERTIFICATE: STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa, do hereby certify that attached hereto is a true and correct copy of the proceedings of the City Council relating to fixing a date for hearing on the City Council's proposal to take action in connection with a Sewer Revenue Loan and Disbursement Agreement. WITNESS MY HAND this 11th day of September, 2018. c�Ldgi)-P�kj& City Clerk -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1"'/z-Sewer Rev ORGANIZATION AND ESTABLISHMENT CERTIFICATE: STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned City Clerk, do hereby certify that the City of Ames, Iowa, is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that the City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named. And I do further certify that the following named parties are officials of the City as indicated: John A. Haila Mayor Steven L. Schainker City Manager Diane R. Voss City Clerk Roger Wisecup City Treasurer Duane Pitcher Finance Director Bronwyn Beatty-Hansen Council Member/Mayor Pro Tem Gloria Betcher Council Member Amber Corrieri Council Member Tim Gartin Council Member David Martin Council Member Chris Nelson Council Member I further certify that the City established the Municipal Sanitary Sewer System (the "Utility"), and that the Utility has been in continuous operation by the City since its establishment in supplying sanitary sewer service to the City and its inhabitants. -7- DORSEY & WHITNEY LLP,ATTORNEYS,DES MOINES, IOWA Ames/419370-63/1'%:-Sewer Rev I further certify that the management and control of the Utility are vested in the Council of the City, and that no board of trustees exists which has any part of the control and management of such Utility. WITNESS MY HAND this�_day of �b/H6- , 2018. City Clerk -8- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1'%-Sewer Rev OUTSTANDING DEBT CERTIFICATE: STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa (the "City"), do hereby certify that the City has no bonds or other obligations of any kind now outstanding which are secured by and payable from the revenues derived from the operation of the Municipal Sanitary Sewer System (the "Utility"), except as follows: Principal Amount Date Type Outstanding Maturily November 16, 2012 Sewer Revenue Bond $ June 1, 2033 September 30, 2016 Sewer Revenue Bond $ June 1, 2036 February 16, 2018 Sewer Revenue Bond $ June 1, 2038 (Attach here a separate sheet listing any other outstanding obligations of the City secured by and payable from the revenues of the Utility excluding the proposed issue.) WITNESS MY HAND this 1 lth day of September, 2018. City Clerk -9- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/1"h-Sewer Rev PUBLICATION CERTIFICATE: STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa, do hereby certify that pursuant to the resolution of its City Council fixing a date of meeting at which it is proposed to take action to enter into a loan and disbursement agreement, the notice, of which the printed slip attached to the publisher's affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City. WITNESS MY HAND this � � day of — ��v �t°1� , 2018. City Clerk (Attach here the publisher's original affidavit with clipping of the notice, as published.) -10- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Proof Of Publication In THE AMES TRIBUNE ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- STATE OF IOWA, STORY COUNTY,ss. I, Scott Anderson, on oath depose and say that I am Publisher of THE AMES TRIBUNE, a daily newspaper, published at Ames, Story County, Iowa; that the annexed printed #1157732 NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO CITY OF AMES ENTER INTO A LOAN AND DIS- BURSEMENT AGREEM+'eNT IN A SRF - Sewer Revenue PRINCIPAL AMOUNT NOT TO EXCEED$S,700,000 (SEWER REVENUE) The City Council of the City of Ames,Iowa;will meet on Septem- was published in said newspaper ber 25,2018,at the City Hall Coun- cil Chambers,at 6:00 o'clock p.m., 1 time(s) on September 14, 2018 for the purpose of instituting pro- ceedings and taking action to en- the last of said publication ter into a loan and disbursement was on the 14th day of September, 2018 to borrowtmoney hereunder Irma principal amount not to exceed $5,700,000 for the purpose of pay- ing the cost, to that extent, of Planning, designing and con- structing improvements and ex- tensions to the City's Municipal Sanitary Sewer System. The Agreement will not constitute a general obligation of the City,nor will it ti payable in any manner by by taxation but,together with the City's outstanding Sewer Revenue C Bond, SRF Series 2012, dated No- vember 16, 2012; Taxable Sewer Revenue Bond, SRF Series 2016, dated September 30, 2016; Taxa- ble Sewer Revenue Bond,SRF Ser- ies 2018,dated February 16,2018; and any additional obligations of the City as may be hereafter is- sued and outstanding from time KIMBERLY NELSEN to time ranking on a parity there- O with, will be payable solely and z only from the Net Revenues of the Commission Number 790054 � + Municipal Sanitary Sewer System �OWA My Commission Expires May 19,2021 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 Agree- �'c._U�ry �� - -1�-'�'� ment,in which case,the decision Nota Public C 4 will be final unless appealed to the District Court within fifteen sworn to before me and subscribed in m (15) days thereafter. By order of y the City Council of the City of presence by Scott Anderson Ames,Iowa. Diane Voss this 14th day of September, 2018 City clerk Published in the Ames Tribune on AMT: $29.17 September 14,2018(1T) AD #: 1157732 ACCT: 33408