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HomeMy WebLinkAbout~Master - 2020 GO Bonds - $23,500,000 - File No. 419370-65 February 20, 2020 Diane R. Voss City Clerk/City Hall 515 Clark Avenue PO Box 811 Ames, Iowa 500 1 0-08 1 1 Re: 2020 General Obligation Corporate Purpose and Refunding Loan Agreement Our File No. 419370-65 Dear Diane: Based on communications with Duane Pitcher and Susanne Gerlach, I have prepared and enclose proceedings that may be used at the Ames City Council meeting on February 25 to set March 10 as the date for a hearing on the proposal to enter into a Loan Agreement. The documents enclosed include the following items: 1. Resolution fixing the date, time and place of the meeting at which it is proposed to hold a hearing on the Loan Agreement. The form of notice of hearing is set out in Section 2 of the resolution. 2. Certificate attesting the transcript. 3. Certificate with respect to publication of the notice, to which must be attached the publisher's affidavit of publication with a clipping of the notice as published. The notice of hearing must be published at least once not less than 4 nor more than 20 days v before the meeting date set for the hearing, in a legal newspaper which has a general circulation in Ames. Please scan and email a copy of the published notice to me. As soon as possible after the City Council meeting, please return one fully executed copy of these proceedings. If you have any questions, please contact me. Very truly yours, Robert E. Josten cc by email: Duane Pitcher Mark Lambert Susanne Gerlach Ames419370-65/SetHmg2020A GO LA SET DATE FOR HEARING ON 2020A GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING LOAN AGREEMENT 419370-65 Ames, Iowa February 25, 2020 The City Council of the City of Ames, Iowa, met on February 25, 2020, at 6:00 o'clock p.m., at the City Hall Council Chamber, in the City. The Mayor presided and the roll was called showing the following members of the City Council present and absent: Present: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Martin Absent: None. Council Member Martin introduced the resolution hereinafter next set out setting a date for a hearing on a general obligation corporate purpose and refunding loan agreement, and moved its adoption, seconded by Council Member Betcher; 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, Junck, Martin Nays: None. Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. • • • • • At the conclusion of the meeting, and upon motion and vote, the City Council adjourned. Mayor Attest: City Clerk -1- DORSEY&WHITNEY LLP.ATTORNEYS,DES MOINES,IOWA Ames419370-65/SeWma2020A GO LA RESOLUTION NO. 20-099 Resolution to fix a date for public hearing on a loan agreement in a principal amount not to exceed $23,500,000 WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to enter into a General Obligation Corporate Purpose and Refunding Loan Agreement (the "Loan Agreement ) in a principal amount not to exceed $23,500,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the essential corporate purposes of paying the cost, to that extent, of constructing improvements to streets, sanitary sewers and bridges, installation of traffic control devices, acquisition of equipment for the fire department and refunding the principal maturities that will become due on and after June 1, 2021, of the City's General Obligation Corporate Purpose Bond issues, Series 2010A, Series 2011 B and Series 2012; and it is necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Loan Agreement and to give notice thereof as required by such law; NOW, THEREFORE, Be It Resolved b the City Council of the City of Ames Iowa, as Y Y Y follows: Section 1. The City Council shall meet on March 10, 2020, at the City Hall Council Chamber, Ames, Iowa, at 6:00 o'clock p.m., at which time and place hearings will be held and r ceedi p o ngs will be instituted and action taken to enter into the Loan Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Loan 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 and not less than 4 nor more than 20 days before the date of said meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames419370-65/SetHma2020A GO LA NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $23,500,000 (GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING) The City Council of the City of Ames, Iowa, will meet on March 10, 2020, at the City Hall Council Chamber, 515 Clark Avenue, Ames, Iowa, at 6:00 o'clock p.m., for the purpose of holding a hearing and taking action to enter into a loan agreement (the "Loan Agreement") in a principal amount not to exceed $23,500,000, for the purpose of paying the cost, to that extent, of constructing improvements to streets, sanitary sewers and bridges, installation of traffic control devices, acquisition of equipment for the fire department and refunding the principal maturities that will become due on and after June 1, 2021, of the City's General Obligation Corporate Purpose Bond issues, Series 2010A, Series 2011 B and Series 2012. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Loan Agreement. After receiving objections, the City Council may determine to enter into the Loan Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen(15) days thereafter. B order of the City Council of the City of Ames Iowa. Y Y Y Diane Voss City Clerk DORSEY&WHITNEY LLP.ATTORNEYS.DES MOINES.IOWA Ames 119370-65/SetHm,-2020A GO LA Section 4. All resolutions or parts of resolutions in conflict 1lerewith are hereby repealed to the extent of such conflict. Passed and approved February 25, 2020. Mayor Attest: City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES.IOWA Ames419370-65/SetHn7s2020A GO LA 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 fixing a date for a hearing on the City Council's proposal to take action in connection with a loan agreement, as referred to therein. WITNESS MY HAND this 25th day of February, 2020. �IcL� City Clerk -5- DORSEY&WHITNEY LLP.ATTORNEYS,DES MOINES.IOWA