HomeMy WebLinkAboutA018 - Email to Dorsey & Whitney from Finance Director dated January 20, 2021 Voss, Diane
From: Pitcher, Duane
Sent: Wednesday, January 20, 2021 5:33 PM
To: Robert E. Josten - Dorsey&Whitney LLP Oosten.robert@dorsey.com); Susanne Gerlach -
Public Financial Management (gerlachs@pfm.com)
Cc: Snyder, Jessra; Masteller, Nancy; Crabbs, Amy; Wisecup, Roger;Voss, Diane; Andersen,
Shannon
Subject: GO Bond Issue for FY 21/22
Bob and Susanne,
We're ready to proceed with the preparation for the GO bond issue for summer 21. Below are the projects to be
included. The downtown plaza is an improvement to an existing parking lot converting to a plaza, the intelligent
transportation is related to traffic control. Our CIP is posted at
https://www.cityofames,orgZhome/showpublisheddocument?id=59864 you can check there for more details on any of
the projects or give me a call.
Susanne, can you review for sizing and the addition of potential refunding opportunities to include with the hearing.
We would like to set the pre-levy amount at$1,045,393, due to some abatement of bonds.
Dates for council action are as follows:
,r.
.,_2/23/21 set date of hearing and pre-levy resolution—this is the date of our maximum levy hearing. Hearing date will be
3/9/21
3/9/21 hold hearing and approve bonds—this is the date we adopt the budget.
The TIF bonds uses qualify as essential corporate purpose so I believe we can include in this hearing.
Give me a call if you have any questions.
Thanks,
Duane
2021/2022 CIP G.O. ISSUE
Arterial Street Pavement 800,000
Improvements
Collector Street Pavement 2,400,000
Improvements
Concrete Pavement Improvements 3,500,000
Asphalt Street Pavement 2,500,000
Improvements
Seal Coat Street Pavement 750,000
Improvements
Downtown Street Improvements 245,000
Intelligent Transportation System 160,400
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Downtown Plaza 700,000
Tax Supported Bonds $ 11,055,400
East 13th Street Sewer Extension TIF $ 2,700,000
Abated Bonds $ 2,700,000
Total G.O. Bonds $ 13,755,400
Duane Pitcher, CPA, CPFO
Direc'Lcr of Finance
City of Ames
515 Clark Avenue
P.O. box 811
Ames, Iowa 50010
Phone (515) 239-5114
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