HomeMy WebLinkAboutA013 - Proceedings from August 13, 2019, meeting Ames419370-64/At-POS/Set$ale2019AGO
APPROVE OFFICIAL STATEMENT FOR
2019A GENERAL OBLIGATION BONDS
AND SET DATE FOR SALE
419370-64
Ames, Iowa
August 13, 2019
The City Council of the City of Ames, Iowa, met on August 13, 2019, at 6:00 o'clock
p.m., at the City Hall Council Chambers, Ames, Iowa.
The meeting was called to order by the Mayor, and the roll was called showing the
following members of the City Council present and absent:
Present: Betcher, Corrieri, Gartin, Martin,Nelson
Absent: Beatty-Hansen.
It was reported that the City's municipal advisor, PFM Financial Advisors LLC, had
prepared certain documentation related to the sale by the City of its General Obligation
Corporate Purpose Bonds, Series 2019A, and that it was necessary for the Council to adopt a
resolution setting the date for the sale of those bonds.
After due consideration and discussion, Council Member Betcher introduced the
following resolution and moved its adoption, seconded by Council Member Gartin. The Mayor
put the question upon the adoption of said resolution, and the roll being called, the following
Council Members voted:
Ayes: Betcher, Corrieri, Gartin, Martin, Nelson
Nays: Beatty-Hansen.
The Mayor declared the resolution duly adopted, as hereinafter set out.
At the conclusion of the meeting and upon motion and vote, e City Council Pourned.
Mayor
QAttes 2:1/7
City Clerk
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DORSEY.&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames41937V-64/A4th POS/SetSaIe2019AGO
RESOLUTION NO. 19-389
Setting date for sale of General Obligation Corporate Purpose Bonds, Series
2019A and authorizing the use of a preliminary official statement in connection
with the sale of the Bonds
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 constructing improvements to streets, sanitary sewers and
bridges and acquiring emergency services communication equipment, and has published notice
of the proposed action and has held a hearing thereon; and
WHEREAS, the City proposes to offer for sale its General Obligation Corporate Purpose
Bonds, Series 2019A, in the principal amount of$11,555,000 (the"Bonds"); and
WHEREAS, a Preliminary Official Statement (the "Preliminary Official Statement") has
been prepared to facilitate the sale of the Bonds and it is now necessary to make provision for
the approval of the Preliminary Official Statement and to authorize its use by PFM Financial
Advisors LLC;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 27`h day of August, 2018, at 11 o'clock a.m. is hereby set as the
deadline for submitting bids for the sale of the Bonds, and the City Council will meet on the
same date to review the bids received and to take action to award the sale of the Bonds.
Section 2. The use by PFM Financial Advisors LLC of the Preliminary Official
Statement relating to the Bonds, in substantially the form as has been presented to and
considered by the City Council, is hereby approved, and PFM Financial Advisors LLC is hereby
authorized to prepare and use a final Official Statement for the Bonds substantially in the form of
the Preliminary Official Statement, but with such changes therein as are required to conform the
same to the terms of the Bonds and, when adopted, the resolution authorizing the issuance of the
Bonds, and the City Clerk is hereby authorized and directed to execute a final Official Statement
for the Bonds, if requested. The Preliminary Official Statement as of its date is deemed final by
the City within the meaning of Rule 15(c)(2)-12 of the Securities and Exchange Commission.
Section 3. Pursuant to Section 75.14 of the Code of Iowa, the City Council hereb�
authorizes the use of electronic bidding procedures for the sale of the Bonds through PARITY ,
and hereby finds and determines that the PARITY® competitive bidding system will provide
reasonable security and maintain the integrity of the competitive bidding process and will
facilitate the delivery of bids by interested parties under the circumstances of this bond sale.
Section 4. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-64/Auth POS/SetSale2019AGO
i' i
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 13, 2019.
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames4193 7Q-64/A th POS/SetSale2019AGO
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
I, the undersigned, City Clerk of the City of Ames, do hereby certify that attached hereto
is a true and correct copy of the proceedings of the City Council relating to setting a date for sale
of bonds and the approval of an official statement, as referred to herein.
WITNESS MY HAND this 15 day of Altl4jAh
�2019./ {
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
0ORSEY"
head
August 9, 2019
Diane Voss
City Clerk/City Hall
P.O. Box 811
515 Clark Avenue
Ames, Iowa 50010
Re: Set Date for Sale of 2019A General Obligation Bonds
Our File No. 419370-64
Dear Diane:
We have prepared and enclose proceedings to be used by your City Council on August 13
to set August 27 as the date for the sale of the City's General Obligation Corporate Purpose
Bonds, Series 2019A.
The proceedings enclosed include the following items:
I. Resolution setting August 27 as the date for the sale of the City's General
Obligation Bonds, Series 2019A and authorizing the use of a preliminary official statement in
connection with the marketing of those Bonds.
2. Certificate attesting transcript.
p As these proceedings are completed, please return one fully executed copy to our office.
U ' If you have any questions, please contact me.
1
V truly yours,
obe E. Josten
Enclosures
cc by email: Duane Pitcher
Roger Wisecup II
Steve Schainker
Mark Lambert
Susanne Gerlach
801 Grand Avenue I Suite 4100 1 Des Moines,IA 1 50309-8002 1 T 515.283.1000 I F 515.283.1060 I dorsey.com