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HomeMy WebLinkAboutA004 - Proceedings for February 22, 2022 - Ov19 5&lt Tu T) ,�Q���f Ames/d 19370-68/Set Hre(part rr)GO CP LAs MINUTES TO SET DATE FOR HEARINGS ON PROPOSALS TO ENTER INTO LOAN AGREEMENTS Ames, Iowa 419370-68 February 22, 2022 The City Council of the City of Ames,Iowa,met on February 22,2022, at six o'clock p.m., in the Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa. 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, Rollins. Absent: None. Council Member Betcher introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Junck; 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, 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. ayor Attest: MAI bf City Clerk DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-68/Set Hm(part rr)GO CP LAs RESOLUTION NO. 22-067 Resolution setting the date for public hearings and additional action on proposals to enter into General Obligation Loan Agreements and to borrow money thereunder WHEREAS, the City of Ames (the "City"), in Ames County, State of Iowa, pursuant to the provisions of Section 384.24A of the Code of Iowa, proposes 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 (collectively, the "Essential Purpose Projects"), 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 Essential Purpose Loan Agreement and to give notice thereof as required by such law; and WHEREAS, the City also proposes to enter into a loan agreement (the "General Purpose Loan Agreement 1") 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 (the "Downtown Plaza Project"), and it is now necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the General Purpose Loan Agreement 1 and to give notice thereof as required by such law, including notice of the right to petition for an election on such proposal pursuant to the provisions of Section 384.26 of the Code of Iowa; and WHEREAS, the City also proposes to enter into a loan agreement (the "General Purpose Loan Agreement 2" and together with the Essential Purpose Loan Agreement and General Purpose Loan Agreement 2, 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 (the "General Purpose Project" and together with the Essential Purpose Projects and Downtown Plaza Project, the "Projects"), and it is now necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the General Purpose Loan Agreement 2 and to give notice thereof as required by such law, including notice of the right to petition for an election on such proposal pursuant to the provisions of Section 384.26 of the Code of Iowa; 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 March 8, 2022, in the City Council Chambers, City Hall, 515 Clark Avenue, Ames, Iowa, at six o'clock p.m., at which time and place hearings will be held and proceedings will be instituted and action taken to enter into the Loan Agreements described in the preamble hereof. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Essential Purpose Loan Agreement setting forth the amount and purpose thereof,the time when -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/Set Hrg(part rr)GO CP LAs and place where the said meeting will be held by publication at least once, not less than four (4) and not more than twenty (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 Ames/419370-68/Set Hr.g(part rr)GO CP LAs NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $11,225,000 (GENERAL OBLIGATION) The City Council of the City of Ames, Iowa (the "City"), will meet on March 8, 2022, in the City Council Chambers, City Hall, Ames, Iowa, at six o'clock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the "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. 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 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. By order of the City Council of the City of Ames, Iowa. Diane Voss City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-68/Set Hre(part rr)GO CP LAs Section 3. The City Clerk is hereby directed to give notice of the proposed action on the General Purpose Loan Agreement 1 setting forth the amount and purpose thereof, the time when and place where the said meeting will be held by publication at least once, not less than ten (10) and not more than twenty (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: -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-68/Set Hr.-(part rr)GO CP LAs NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $700,000 (GENERAL OBLIGATION) The City Council of the City of Ames, Iowa (the "City"), will meet on March 8, 2022, in the City Council Chambers, City Hall, Ames, Iowa, at six o'clock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the "Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $700,000 for the purpose of paying the costs, to that extent, of undertaking Downtown Plaza improvements. 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. The maximum rate of interest which may be payable under the Loan Agreement is 7% per annum. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned 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 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 By order of the City Council of the City of Ames, Iowa. Diane Voss City Clerk -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-68/Set Hrs(part rr)GO CP LAs Section 4. The City Clerk is hereby directed to give notice of the proposed action on the General Purpose Loan Agreement 2 setting forth the amount and purpose thereof, the time when and place where the said meeting will be held by publication at least once, not less than ten (10) and not more than twenty (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: -7- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/4 19370-68/Set Hra(part rr)GO CP LAs NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $350,000 (GENERAL OBLIGATION) The City Council of the City of Ames, Iowa (the "City"), will meet on March 8, 2022, in the Council Chambers, City Hall, Ames, Iowa, at six o'clock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement(the`'Loan Agreement") and to borrow money thereunder in a principal amount not to exceed $350,000 for the purpose of paving the costs, to that extent, of undertaking concrete surfacing improvements for a municipal fire station. 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. The maximum rate of interest which may be payable under the Loan Agreement is 7%per annum. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. If no such petition is filed, at the aforementioned 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 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 By order of the City Council of the City of Ames, Iowa. Diane Voss City Clerk -8- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-68/Set Hre(part rr)GO CP LAs Section 5. Pursuant to Section 1.150-2 of the Income Tax Regulations (the "Regulations") of the Internal Revenue Service, the City declares (a) that it intends to undertake the Projects which are reasonably estimated to cost approximately $12,300,000, (b)that other than (i) expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or other obligations (the"Bonds"), or(ii) expenditures made not earlier than 60 days prior to the date of this Resolution or a previous intent resolution of the City, or(ill) 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 City and no expenditures will be made by the City until after the date of this Resolution or a prior intent resolution of the City, and (c) that the City reasonably expects to reimburse the expenditures made for costs of the City out of the proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to Section 1.150-2 of the Regulations. Section 6. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 7. This resolution shall be in Rill force and effect immediately upon its adoption and approval, as provided by law. Passed and approved February 22, 2022. Mayor Attest: City Clerk -9- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/d 19370-68/Set Hrg(part rr)GO CP LAs 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 the proceedings of the City Council relating to fixing a date for additional action on the City's proposals to enter into certain loan agreements, as referred to therein. WITNESS MY HAND this 22nd day of February, 2022. City Clerk -10- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-63/Set Hrs(part rr)GO CP LAs ORGANIZATION CERTIFICATE STATE OF IOWA STORY COUNTY SS: CITY OF AMES I, the undersigned City Clerk, do hereby certify that the City of Ames is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that the City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named. And I do further certify that the following named parties are officials of the City as indicated: John A. Haila Mayor Steven L. Schainker , City Manager Diane R. Voss , City Clerk Duane Pitcher , Finance Director Amber Corrieri , Council Member/Mayor Pro Tem Bronwyn Beatty-Hansen , Council Member Gloria Betcher , Council Member Tim Gartin , Council Member Rachel Junck , Council Member Anita Rollins , Council Member WITNESS MY HAND this 22nd day of February, 2022. City Clerk -11- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA