HomeMy WebLinkAbout~Master - General Obligation Corporate Purpose Bonds, Series 2024A, $18,810,000 File No. 419370-75 DORSEY
4140&dl
September 10, 2024
Via Email
Renee Hall
City Clerk/City Hall
Ames, Iowa
Re: General Obligation Corporate Purpose Bonds, Series 2024A
Our File No. 419370-75
Dear Renee:
We have prepared and attach anal 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 2024A (the "Bonds") and
providing for the issuance of the Bonds. The Resolution and supporting documents have been updated
with the name of the Purchaser or the interest rates at which the Bonds will be sold.
The proceedings attached include the following items:
1. Minutes of the meeting reporting the 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.
As provided in the earlier pre-levy Resolution and in the attached Resolution, continuing in the
2025-2026 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.
8oi Grand Avenue I Suite 4100 1 Des Moines,IA 15o3og-800z IT 515-288s000 1 dorsey.com
Paget O DORSEY
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
possible and in advance of closing.
Finally, we are attaching a Continuing Disclosure Certificate for the Mayor and you to sign.
Please retain one executed copy for the City's records and e-mail a copy to us as soon as possible and
in advance of closing.
If you have any questions, please contact Erin Regan, Cheryl Ritter or me.
Best regards,
John P. Danos
Attachments
cc: Corey Goodenow
Roger Wisecup
Steven Schainker
Marl(Lambert
Amanda Calbert
PFM Financial Advisors LLC
Janney Montgomery Scott LLC
DORSEY&WHITNEY LLP