HomeMy WebLinkAboutA016 - Email to Dorsey Whitney dated October 31, 2022 - agenda title Hall, Renee
From: ritter.cheryl@dorsey.com
Sent: Monday, October 31, 2022 9:59 AM
To: Hall, Renee
Cc: Pitcher, Duane; Wisecup, Roger; Baker.Lauren@dorsey.com; Bjork.Amy@dorsey.com;
Danos.John@dorsey.com; ham mond.emily@dorsey.com; lemke.susan@DORSEY.com;
orngard.severie@dorsey.com; Regan.Erin@dorsey.com; vaughtjessica@dorsey.com
Subject: Agenda Title (Ames 419370-68)
[External Email]
Good morning, Renee,
Below is the agenda title for the November 8th City Council meeting in connection to the general obligation
borrowing:
"Resolution authorizing and approving a Loan Agreement, providing for the sale and issuance of
$13,400,000 General Obligation Corporate Purpose Bonds, Series 2022A, and providing for the levy
of taxes to pay the same"
We will email the proceedings separately this week. Please let us know if you have any questions.
Thankyou!
Cheryl Ritter
Public Finance Paralegal
ID C) RS I Y .
DORSEY & WHITNEY LLP
8oi Grand Avenue
Suite 4100 1 Des Moines,IA S0309-2790
P:(51S)699-3263
F:(525)283-io6o
CONFIDENTIAL COMMUNICATION
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Hall, Renee
From: ritter.cheryl@dorsey.com
Sent: Tuesday, October 18, 2022 4:53 PM
To: Hall, Renee
Cc: Schainker, Steve; Lambert, Mark; Wisecup, Roger; Polin, Amanda; gerlachs@pfm.com;
smithje@pfm.com; schenckm@pfm.com; Baker.Lauren@dorsey.Com;
Bjork.Amy@dorsey.com; Danos.John@dorsey.com; hammond.emily@dorsey.com;
lemke.susan@DORSEY.com; orngard.severie@dorsey.com; Regan.Erin@dorsey.com;
vaught.jessica@dorsey.com
Subject: Proceedings (Ames #68)
Attachments: Auth POS Set Sale GO CP LA (Ames 419370-68) 2022-v3.docx
[External Email]
Good afternoon, Renee,
Attached please find the proceedings for the October 24th City Council meeting which enable the City Council
to set November 8, 2022 as the date for the sale of General Obligation Corporate Purpose Bonds, Series
2022A and to authorize the use of a preliminary official statement in connection therewith.
We have included a letter at the end of the proceedings with additional details and instruction Please e-mail
us a fully executed scanned copy as soon as they are available.
Please let us know if you have any questions. !
Thankyou!
Cheryl Bitter
Public Finance Paralegal
[D0RSE: Y
DORSEY & WHITNEY LLP
8oi Grand Avenue
Suite 4100 1 Des Moines,IA 50309-2790
P:(sis)699-3263
F:(515)283-io6o
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material,and are for the sole use of the intended recipient.
Use or distribution by an unintended recipient is prohibited,and may be a violation of law.If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof,and inform the sender that you have deleted the e-mail,all attachments and any copies thereof.
Thankyou.
Please help reduce paper and ink usage.Print only if necessary.
1
Ames/419370-68/Auth POS,Set Sale GO CP LA
MINUTES TO SET DATE FOR SALE OF
BONDS AND AUTHORIZE OFFICIAL
STATEMENT FOR BONDS
419370-68
Ames, Iowa
October 25, 2022
The City Council of the City of Ames, Iowa, met on October 25, 2022, at 6:00 o'clock
—p_.m. at the Counci 1 Chambers i n (21t , ualI , Ames, Iowa.
The meeting was called to order by the Mayor, and the roll being called, the following
named Council Members were present and absent:
Present: RPatty-uanenn R �('a i in�Tdl�iltslrr�--RAll-nS
Absent: Corri eri
After due consideration and discussion, Council Member Betcher
introduced the following resolution and moved its adoption, seconded by Council Member
Beatty-Hansen . The Mayor put the question upon the adoption of said resolution, and
the roll being called, the following Council Members voted:
Ayes: Beatty-Hansen, Betcher, Gartin, Junck, Rollins
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:
4itylerik-e
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/Auth POS,Set Sale GO CP LA
RESOLUTION NO. 22-S58
Resolution setting the date for the sale of General Obligation Corporate Purpose
Bonds, Series 2022A and authorizing the use of a preliminary official statement in
connection therewith
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa has proposed
to enter into a General Obligation Urban Renewal Loan Agreement (the "Urban Renewal Loan
Agreement"), pursuant to the provisions of Sections 384.24A and 384.24.3(q) of the Code of
Iowa, and to borrow money thereunder in a principal amount not to exceed $21,200,000 for the
purpose of paying the costs, to that extent, undertaking a project in the Downtown Reinvestment
District Urban Renewal Area consisting of constructing, furnishing and equipping an indoor
aquatic center and associated grounds and facilities as further detailed in the urban renewal plan
approved by the City Council on August 24, 2021, and in lieu of calling an election upon such
proposal, has published notice of the proposed action, including notice of the right to petition for
an election, and has held a hearing thereon, and as of September 14, 2021, no petition had been
filed with the City asking that the question of entering into the Urban Renewal Loan Agreement
be submitted to the registered voters of the City; and
WHEREAS, the City, pursuant to the provisions of Section 384.24A of the Code of Iowa,
also proposed to enter into a loan agreement (the "Essential Purpose Loan Agreement") and to
borrow money thereunder in a principal amount not to exceed $11,225,000 for the purpose of
paying the costs, to that extent, of (1) constructing street, alley, bridge, sidewalk, storm water
drainage and incidental infrastructure improvements; (2) acquiring and installing street lighting,
signage and signalization improvements; and (3) acquiring vehicles and equipment for the
municipal fire department, and pursuant to law and a notice duly published, the City Council has
held a public hearing on such proposal on March 8, 2022; and
WHEREAS, the City also proposed to enter into a loan agreement (the "General Purpose
Loan Agreement I") and to borrow money thereunder in a principal amount not to exceed
$700,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of
paying the costs, to that extent, of undertaking Downtown Plaza improvements and in lieu of
calling an election upon such proposal, has published notice of the proposed action and has held
a hearing thereon, and as of March 8, 2022, no petition had been filed with the City asking that
the question of entering into the General Purpose Loan Agreement 1 be submitted to the
registered voters of the City; and
WHEREAS, the City further proposed to enter into a loan agreement (the "General
Purpose Loan Agreement 2" and together with the Urban Renewal Loan Agreement, the
Essential Purpose Loan Agreement and the General Purpose Loan Agreement 1, the "Loan
Agreements") and to borrow money thereunder in a principal amount not to exceed $350,000,
pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the
costs, to that extent, of undertaking concrete surfacing improvements for a municipal fire station
and in lieu of calling an election upon such proposal, has published notice of the proposed action
and has held a hearing thereon, and as of March 8, 2022, no petition had been filed with the City
asking that the question of entering into the General Purpose Loan Agreement 2 be submitted to
the registered voters of the City; and
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/Auth POS,Set Sale GO CP LA
WHEREAS, pursuant to Section 384.28 of the Code of Iowa, the City combined the Loan
Agreements into a single loan agreement (the "Loan Agreement"); and
WHEREAS, a Preliminary Official Statement (the "P.O.S.") has been prepared to
facilitate the sale of General Obligation Corporate Purpose Bonds, Series 2022A (the "Bonds")
to be issued in evidence of the obligation of the City under the Loan Agreement, and it is now
necessary to make provision for the approval of the P.O.S. and to authorize its use by PFM
Financial Advisors LLC, as municipal advisor (the "Municipal Advisor") to the City; and
WHEREAS, it is now necessary to set the date for the sale of the Bonds and to make
provision for the advertisement thereof,
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The City staff are hereby authorized to take such action as shall be deemed
necessary and appropriate, with the assistance of the Municipal Advisor, to prepare the P.O.S.
describing the Bonds and providing for the terms and conditions of their sale, and all action
heretofore taken in this regard is hereby ratified and approved.
Section 2. The use by the Municipal Advisor of the P.O.S. relating to the Bonds in
substantially the form as has been presented to and considered by the City Council is hereby
approved, and the Municipal Advisor is hereby authorized to prepare and use a final Official
Statement for the Bonds substantially in the form of the P.O.S. but with such changes therein as
are required to conform the same to the terms of the Bonds and the resolution, when adopted,
providing for the sale and issuance of the Bonds, and the City staff are hereby authorized and
directed to execute a final Official Statement for the Bonds, if requested. The P.O.S. 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. Sealed bids for the purchase of the Bonds shall be submitted, as set forth
in the P.O.S., received and canvassed on behalf of the City until 10:00 a.m. on November 8,
2022, at the office of the City Treasurer, at the City Hall, in the City, and the City Council shall
meet on the same date at 6:00 p.m., at the City Hall Chambers, Ames Iowa, for the purpose of
considering such bids received and considering and passing a resolution providing for the award
of the Bonds, and the Municipal Advisor is hereby authorized and directed to disseminate the
notice of said sale, in compliance with the Internal Revenue Service regulations governing "Issue
Price" determinations, such notice to minimally contain information regarding Establishment of
Issue Price set forth in the "Terms of Offering" attached to the P.O.S. and to be in such form as
the Municipal Advisor may deem to be appropriate.
Section 4. Pursuant to Section 75.14 of the Code of Iowa, the City Council hereby
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.
-3-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/Auth POS,Set Sale GO CP LA
Section 5. Further action with respect to the sale and issuance of the bonds is hereby
adjourned to the City Council meeting scheduled for November 8, 2022.
Section 6. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Section 7. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved October 25, 2022. `
Mayor
Attest*
4 WXU'
City lerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/Auth POS,Set Sale GO CP LA
ATTESTATION CERTIFICATE
STATE OF IOWA
STORY COUNTY 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 all of the proceedings of the City Council relating to the fixing of a
date for the sale of General Obligation Corporate Purpose Bonds, Series 2022A and approving a
preliminary official statement for the sale of the Bonds, as referred to herein.
WITNESS MY HAND this J day of&jV 6 V , 2022.
Ctyy erk
-5-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MINES,IOWA
Hall, Renee
From: ritter.cheryl@dorsey.com
Sent: Monday, October 17, 2022 1:05 PM
To: Wisecup, Roger
Cc: Hall, Renee; Danos.John@dorsey.com; Regan.Erin@dorsey.com
Subject: RE: Agenda Title (Ames 419370-68)
Attachments: CAF GO Bond Set Date Sale & Issuance - 10-25-2022.docx
[External Email]
Hi Roger,
No, the agenda you have is fine. We typically send the agenda title the week ahead of the Council meeting
and what you have is correct.
Thanks!
Cheryl
From: Wisecup, Roger<roger.wisecup@cityofames.org>
Sent: Monday, October 17, 2022 12:59 PM
To: Ritter, Cheryl <ritter.cheryl@dorsey.com>
Cc: Hall, Renee <renee.hall@cityofames.org>
Subject: Re: Agenda Title (Ames 419370-68)
EXTERNAL FROM OUTSIDE DORSEY. BE CAUTIOUS OF LINKS AND ATTACHMENTS.
Hi Cheryl,
We have already put the attachment on the agenda. Is what you have below something different?
Roger J. Wisecup It, CPA
Investi,iie 1t Off[CC'/-17'I'L'ICSI[1'C'1'
515.239.5119 office
Roger.wisecupo( cityofames.org JCity Hall, 515 Clark Avenue I Ames, IA 50010
www.CityofAmes.org Cai-ing People— Quality Programs — Exceptional Service
From: ritter.cheryl@dorsey.com <ritter.cheryl dorsey.com>
Sent: Monday, October 17, 2022 12:49 PM
To: Hall, Renee <renee.hall cityofames.org>
Cc: Pitcher, Duane <duane.pitcher cityofames org>; Wisecup, Roger<roger.wisecup@cityofames.org>;
Bal<er.Lauren@dorsev.com <Baker.Lauren dorsey.com>; Biork.Amy@dorsey.com <Bjork.Amy@dorsey.com>;
Danos.John@dorsey.com <Danos.John dorsey.com>; hammond.emilv@dorsey.com <hammond.emily@dorsey.com>;
lemke.susan@DORSEY.com <lemke.susan DORSEY.com>; orngard.severie@)dorsey.com
<orngard.severie@dorsey.com>; Regan.Erin Pdorsey.com <Regan.ErinPdorsey.com>; vaught.jessica@dorsey.com
1
<vaught.iessica@dorsey.com>
Subject:Agenda Title (Ames 419370-68)
[External Email]
Good morning, Renee,
Below are the agenda titles for the October 25th City Council meeting in connection to the general obligation
borrowing:
"Resolution setting the date for the sale of General Obligation Corporate Purpose Bonds, Series
2022A and authorizing the use of a preliminary official statement in connection therewith"
We will email the proceedings separately this week. Please let us know if you have any questions.
Thank you!
Cheryl Ritter
Public Finance Paralegal
DORSEY & WHITNEY LLP
8o1 Grand Avenue
Suite 4200 1 Des Moines,IA 50309-2790
P:(515)699-3263
F:(525)283-1o6o
CONFIDENTIAL COMMUNICATION
E-mails from this firm normally contain confidential and privileged material,and are for the sole use of the intended recipient.
Use or distribution by an unintended recipient is prohibited,and may be a violation of law.If you believe that you received
this e-mail in error,please do not read this e-mail or any attached items. Please delete the e-mail and all attachments,
including any copies thereof,and inform the sender that you have deleted the e-mail,all attachments and any copies thereof.
Thank you.
Please help reduce paper and ink usage.Print only if necessary.
2