HomeMy WebLinkAboutA017 - Letter from Dorsey Whitney dated November 8, 2022 - November 8, 2022 Proceedings HORSEY
always ahead
November 8, 2022
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Via Email r O
Renee Hall I
City Clerk/City Hall
Ames, Iowa d
Re: General Obligation Corporate Purpose Bonds, Series 2022A
Our File No. 419370-68
Dear Renee:
We have prepared and attach final proceedings to be used at tonight's City Council
meeting to enable the Council to adopt the resolution (the "Resolution") approving the Loan
Agreement, reflecting the sale of General Obligation Corporate Purpose Bonds, Series 2022A
(the "Bonds") and providing for the issuance of the Bonds. These documents have been updated
with the Purchaser and final pricing.
The proceedings attached include the following items:
1. Minutes of the meeting reportingihe bids received for the Bonds, followed by the
Resolution awarding and issuing the Bonds. ✓✓
The blanks in the form of Bond, the form of Certificate of Authentication and the form of
Assignment included as part of the Resolution should not be completed or executed.
2. Attestation Certificate with respect to the validity of the transcript.
3. County Filing Certificate. A certified copy of the Resolution must be filed with
the Story County Auditor, and we have prepared forms of certificate to be signed by the Auditor
relating to the filing of a certified copy of the Resolution in that office. "'15r Lk I I'
As provided in the earlier pre-levy Resolution and in the attached Resolution, continuing
in the 2022-2023 fiscal year, the County Auditor will have a mandatory duty to make a levy of
taxes to pay principal of and interest on the Bonds unless the City's budget each year
affirmatively shows that the tax should not be levied because other funds will be applied to the
payment of the Bonds for that budget year. To the extent the City determines that property tax
levies will be needed for payment in any year, the tax levy amounts needed must be certified for
that year in the City's budget as part of the Debt Service Fund, and the funds derived from
sources other than taxes must be shown on the appropriate budget document.
As these proceedings are completed, please return one fully executed copy to our office.
Also attached is a Loan Agreement for execution by you and the Mayor. Please print the
Loan Agreement for execution. After it has been signed, please scan and e-mail a copy to us as
soon as available for inclusion with the closing materials. I {.11,J'A
8oi Grand Avenue I Suite 4100 1 Des Moines,IA 1 5o309-8002 I T 515.283.1000 1 F 515.283.1o6o I dorsey.com
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We are also sending a Continuing Disclosure Certificate for you and the Mayor to sign.
Please retain one executed copy for the City's records and return one copy to us via email as it is
available.
If you have any questions, please contact Erin Regan, Cheryl Ritter or me.
Best regards,
John P. Danos
Attachments
cc: Steven Schainker
Mark Lambert
Roger Wisecup
Amanda Calbert
PFM Financial Advisors LLC
Janney Montgomery Scott LLC
D01?S Y&WJHIINFY L.L.P