HomeMy WebLinkAboutA005 - Clerk's working copies of proceedings for February 22, 2022 Ames/419370-68/Set Hrg(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 Lhe 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 tie purpose of paying the costs, to that extent, of(1) constructing �0
street, alley, br' , 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 ` Genera urpose
Loan Agreement I") and to borrow money thereunder in a principal amount not o excee
$700,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of
paying tie 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
propose 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 Cieneral 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`o�g 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 ounce a w is i ss 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
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/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:
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
FuLb 3I 01 �aa
Ames/419370-68/Set Hrg(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 " oan
Agreement") and to borrow money thereunder in a principal amount not to excee 1,225,00
for the purpose of paying the costs,to that extent,of(1)constructing street,alley,bri _
storm water drai a e an inc> en a m rastructure improvements; (2) acquiring and installing'
street lighting, signage and signalization improvements, an acquiring vehicles and equipment
or the municipal fire epartmen .
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
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-68/Set Hrg(part rr)GO CP LAs
notice of the proposed action on
Section 3. The CityClerk is hereby directed to give p
Y g p
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:
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMES,IOWA
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, 515 Clark Avenue, 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 agree en "Loan
Agreement") and to borrow money thereunder in a principal amount not to excee $11,225,000
for the purpose of paying the costs,to that extent,of(1) constructing street, alley,bri g ,
storm water drainage and incidental infrastructure improvemen s; acquiring and insta ing
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