HomeMy WebLinkAbout~Master - $35,000,000 Hospital Revenue Bonds - Proceedings Mary Gre*eley,418663-51,Set Date
MINUTES TO SET DATE FOR
HEARING ON BONDS
Ames, Iowa
September 24, 2019
The City Council of the City of Ames, Iowa, met on September 24, 2019, at 5 o'clock
p.m., at the City Council Chambers, 515 Clark Avenue, Ames, Iowa. The Mayor presided and
the roll was called showing the following Council Members present and absent:
Present: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Absent: None.
After discussion of other matters, the Council took up and considered the proposal to
issue hospital revenue bonds or notes to finance hospital improvement projects for the benefit of
Mary Greeley Medical Center. Whereupon Council Member Gartin introduced a resolution
hereinafter next set out and moved its adoption, seconded by Council Member Nelson; and after
due consideration thereof by the City 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:
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4812-6704-7331\2
Mary Grfeley,41$663-51,Set Date
RESOLUTION NO. 19-501
To fix a date for a public hearing on the proposal to issue hospital revenue bonds
or notes in a principal amount not to exceed $35,000,000 for the purpose of
financing improvement projects for Mary Greeley Medical Center
WHEREAS, heretofore in the year 1916, the Mary Greeley Memorial Hospital (now
known as the Mary Greeley Medical Center and hereinafter sometimes referred to as the
"Hospital") was established in and for the City of Ames, Iowa (the "City") by lawful acceptance
of a conditional gift of certain real estate and the then existing hospital facility, deeded to the
City by Mr. W. M. Greeley; and
WHEREAS, the Board of Trustees of the Hospital (the "Board") has requested the City
to issue its hospital revenue bonds or notes (Mary Greeley Medical Center Project), in one or
more series, in the aggregate principal amount of not to exceed $35,000,000 (the "Bonds") for
the purpose of (1) financing a portion of the Hospital's improvement projects to acquire,
construct, equip, renovate and furnish improvements to the medical/surgical area,
children/maternal services and NICU departments, behavioral health department, inpatient
rehabilitation and other areas of the hospital facilities located at the Hospital's campus as 1111
Duff Avenue, Ames, Iowa (collectively, the "Projects") and (2) financing issuance expenses for
the Bonds; and
WHEREAS, it is necessary to fix a date of meeting of this City Council at which it is
proposed to take action to issue the Bonds and to give notice thereof as required by such law;
and
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 the 8th day of October, 2019, at the
Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at 6 o'clock p.m., at which time
and place a hearing will be held and proceedings will be instituted and action taken for issuance
of the Bonds.
Section 2. The City Clerk is hereby directed to give notice of the proposed action for
the issuance of the Bonds setting forth the amount and purpose thereof, the time when and place
where the said meeting will be held by publication at least once and not less than 4 nor more
than 20 days before the meeting, in a legal newspaper of general circulation in the City.
Section 3. The notice shall be in substantially the following form:
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4812-6704-7331\2
Mary Graley,418663-51,Set Date
NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS FOR ISSUANCE OF HOSPITAL REVENUE BONDS OR NOTES
The City Council of the City of Ames, Iowa, will meet on the 8th day of October, 2019 at
the Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at 6 o'clock p.m., for the
purpose of instituting proceedings and taking action for the issuance of hospital revenue bonds
or notes, in one or more series, in an amount not to exceed $35,000,000 (the "Bonds") for the
benefit of Mary Greeley Medical Center (the "Hospital") for the purpose of (1) financing a
portion of the Hospital's improvement projects to acquire, construct, equip, renovate and furnish
improvements to the medical/surgical area, children/maternal services and NICU departments,
behavioral health department, inpatient rehabilitation and other areas of the hospital facilities
located at the Hospital's campus as I I I I Duff Avenue, Ames, Iowa (collectively, the "Projects")
and (2) financing issuance expenses for the Bonds. The Projects will be owned by the Hospital.
The Bonds will not constitute general obligations of the City, nor will they be payable in
any manner by taxation, but will be payable from the net revenues of the Hospital and any
reserve funds established for the payment thereof and will rank on a parity with any loan
agreement, bonds, notes or other obligations heretofore or hereafter issued by the City which are
payable from such sources.
The Bonds are proposed to be issued pursuant to authority contained in Division V of
Chapter 384 of the Code of Iowa.
At the aforementioned time and place, oral or written objections may be filed or made to
the proposal to issue the Bonds. After receiving objections, the City may take action for the
issuance of the Bonds, in which case, the decision will be final unless appealed to the District
Court within fifteen (15) days thereafter. Written objections may be filed with the City Clerk
prior to such meeting at City Hall, 515 Clark Avenue, Ames, Iowa 50010.
By order of the City Council of the City of Ames, Iowa.
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4812-6704-7331\2
Mary Greeley,41$663-51,Set Date
Section 4. The Issuer declares its intent to issue the Bonds to pay a portion of the
costs of the Projects. On the basis of representations of the Hospital, other than (i) expenditures
to be paid or reimbursed from sources other than the Bonds, or (ii) expenditures made not earlier
than sixty days prior to the date of this Resolution or another eligible reimbursement resolution,
or (iii) expenditures amounting to the lesser of$100,000 or 5% of the proceeds of the Bonds, or
(iv) expenditures constituting preliminary expenditures as defined in Section 1.150-2(f)(2) of the
Regulations, no expenditures for the Projects have heretofore been made by the Hospital and no
expenditures will be made by the Hospital until after the date of this Resolution. This
declaration is a declaration of official intent adopted pursuant to Section 1.150-2 of the
Regulations.
Section 5. All resolutions or parts of resolutions in conflict herewith be and the same
are hereby repealed to the extent of such conflict.
Passed and approved September 24, 2019.
t Mayor
Attest:
City Clerk
* * *Other Business*
After the discussion of other business, on motion and vote, the meetin adUo d.
Mayor
Attest:
City Clerk
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4812-6704-7331\2
Mary Greeley,41`8663-51,Set Date
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
I, the undersigned, City Clerk of the aforementioned City, 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 the issuance of
hospital revenue bonds or notes as referred to therein.
WITNESS MY HAND and the seal of the City hereto affixed this 24th day of September,
2019. \
City Clerk
(Seal)
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4812-6704-7331\2
Mary Greeley,418663-51,Set Date
(PLEASE NOTE: Do not date and return this certificate until you have received the
publisher's affidavit and have verified that the notice was published on the date indicated
in the affidavit but please return all other completed pages to us as soon as they are
available.)
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AMES
I, the undersigned, City Clerk of the aforementioned City, do hereby certify that pursuant
to the resolution of the City Council fixing a date of meeting at which it is proposed to take
action to issue hospital revenue bonds or notes, 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 is of general circulation in the
City.
WITNESS MY HAND and the seal of the City hereto affixed this 4th day of October,
2019.
City Clerk
(Seal)
(Attach here the publisher's original affidavit with clipping of the notice, as published.)
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4812-6704-7331\2
Proof Of Publication In
THE AMES TRIBUNE
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#izTsoaz �
STATE OF IOWA, STORY COUNTY,ss. NOTICE OF PROPOSED ACTION
TO INSTITUTE
PROCEEDINGS FOR ISSUANCE
I, Rebecca Bjork, on oath depose and say that OF HOSPITAL REVENUE BONDS
OR NOTES
am Advertising Director of THE AMES TRIBUNE, The city Council of the city of
a daily newspaper, published at Ames, Ames. Iowa, will meet on the sthbe
day of Ictor,2019 at the Coun
Story County, Iowa; that the annexed printed cil Chambers, City Hall,515 Clark
Avenue, Ames, Iowa, at 6 o'clock
`p.m.,for the purpose of instituting ,
Proceedings and taking action for
the issuance of hospital revenue
CITY OF AMES bonds or notes, in one or more
series,in an arnount not to exceed
$35,000,000 (the "Bonds) for the
Notice of Hearing - Hospital Revenue benefit of Fury Greeley-Medical
Center (the "Hospital") for the
Purpose of(1)financing a portion
of the Hospital's; improvement
projects to acquire, construct,
was published in said newspaper equip, renovate and furnish im
Provements to the medical/sur-
1 time(s) on October 1, 2019 aicai area, children / maternal
services and Nicu departments,
the last of said publication behavioral health department, in-
Patient rehabilitation and other
was on the 1st day of October, 2019 areas of the hospital facilities lo-
cated at the Hospital's campus as.
1111 Duff Avenue, Ames, Iowa
(collectively, the "Projects") and
(2) financing issuance expenses
for the Bonds. The Projects will be
owned by the Hospital.The;Bonds
will not Constitute;general obllga
tions of the City,nor will they be
Payable in any manner by taxa-
tion,but will be payable from the
net revenues of the Hospital and
any reserve funds established;for
the oaYment thereof and will rank
on a Parity with any loan agree-
ment, bonds, notes or other Phil.
g2tion!;heretofore:or hereafter'is-
I suers by the City which are paya-
ble from such sources.The Bonds
;ire proposed to be issued pur-
�OAEKIMB ALY NELSEN s:aatrot#o authority contained in Di-
vision V of Chapter 384 of the
Code of Iona. At the aforemen-
$ tmmission Number 790054 tioned time: and place, oral or
A `owrmmission Expires May 19,2021 w itten objections may be filed or
j made to the proposal to issue the
Bond,. After receiving objections, .1
f� the City may take action for the is. ,
f suance of the Bonds, in which
�r �®�� case,the decision will be final un-
j� t ��' �(i S,j less appealed to the District Court
within fifteen(15)days thereafter.
Written objections may be filed
Notary Public with the City Clerk Prior to such .
meeting at City Hall, 515 Clark
sworn to before me and subscribed in m Avenue, Ames, Iowa'50010. IIy"or-
y der of the City Council of the City
presence by Rebecca Bjork, Advertising Director
this 1st day er of October, 2019 o Diane famesVowa j
Voss,City Clerk 1
Published in the Ames Tribune:on
AMT: $35.47 October 1,2019(1T)
AD #: 1279042
ACCT: 33408