HomeMy WebLinkAboutA009 - Letter to Story County Auditor dated March 8, 2019 R
At- CiTY OF
Ames,"
Smart Choice
March 8, 2019
Ms. Lucy Martin
Story County Auditor
900 Sixth Street
Nevada, Iowa 50201
RE: Ames, Iowa
2019 General Obligation Corporate Purpose Bonds
Dear Lucy:
Enclosed please find a certified copy of Resolution 19-085, which was adopted by the Ames City
Council on March 5, 2019, 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 fax Ames,IA 50010
www.CityofAmes.org
CITY OF
Ames,
Sinart Choice
March 8, 2019
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. 19-085 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 5tn day of March, 2019.
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
Ames419370-64/20J9 Hrg&Prelevy
RESOLUTION NO. 19-085
Resolution authorizing a Loan Agreement and providing for the levy of taxes
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, has
heretofore proposed to enter into a General Obligation Essential Corporate Purpose Loan
Agreement (the "Loan Agreement") in a principal amount not to exceed $11,880,000, pursuant
to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to
that extent, of 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 intends to enter into the Loan Agreement and to issue General
Obligation Corporate Purpose Bonds in an amount not to exceed $11,880,000 (the "Bonds") in
the future, and anticipates that principal and interest will come due on the Bonds before June 30,
2020, and it is now necessary to make provision for the levy of a debt service property tax to be
collected in the fiscal year that will begin July 1, 2019 for the payment of such principal and
interest;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Council hereby expresses its intention to enter into the Loan
Agreement and to issue the Bonds at such time as funds are needed, and the Council hereby
declares that this resolution constitutes the additional action required by Chapter 384 of the Code
of Iowa.
Section 2. 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, there is hereby ordered levied on
all the taxable property in the City a direct annual tax for collection in the fiscal year beginning
July 1, 2019, sufficient to produce the sum of$1,123,678.
Section 3. A certified copy of this resolution shall be filed with the County Auditor
of Story County, and said 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 City and when
collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City 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.
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Ames419370-64/2019 Hr'&Prelevy
Section 4. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved March 5, 2019.
W J 'f
Mayor
Attest:
tax U
City Clerk
On motion and vote, the meeting adjourned.
Mayor
Attest:
,ask
City Clerk
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Ames419370-64/2C19 Hrg&Prelevy
STATE OF IOWA SS:
COUNTY OF STORY
I, the undersigned, County Auditor of Story County, in the State of Iowa, do hereby
certify that on the day of March, 2019, the City Clerk of the City of Ames filed in my
office a certified copy of a resolution of the City shown to have been adopted by the City
Council on March 5, 2019, entitled: "Resolution authorizing a Loan Agreement and providing
for the levy of taxes," and that I have duly placed the copy of the resolution on file in my
records.
I further certify that the taxes provided for in that resolution will in due time, manner and
season be entered on the State and County tax lists of this County for collection in the fiscal year
beginning July 1, 2019, and subsequent years as provided in the resolution.
WITNESS MY HAND this day of , 2019.
County Auditor
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