HomeMy WebLinkAboutA001 - Resolution No. 19-268 adopted May 28, 2019 Anics/419370-61'Ficau-ni Proc
RESOLUTION NO. 19-268
Resolution calling an election oil the proposition of entering into a loan agreement
and issuing general obligation bonds in a principal amount not to exceed
$29.065..000 for a 1-1calthy Life Center
WHEREAS, it is deemed advisable that the City of Ames, Iowa (the "City"). enter into a
loan agreement and issue its general obligation bonds in an amount not exceeding S29.065-000 to
provide funds to pay the cost, to that extent, of coilsti,tictiii(,, .I'tirnishint,4 and equipping a Healthy
Life Center and associated public infrastructure (hereinafter referred to as the -Project"): atid
WFIF REAS, pursuant to Chapter 384 of the Code oflowa. before the City may enter into
a loan agreement and issue its general obligation bonds for such purpose, the City must hold a
special election upon such proposition and receive a favorable vote from at least 60% of the total
votes cast at such special election:
NOW, THEREFORE. 131 IT RESOLVED by the City Council of the City of Allies.
Iowa. as follows-
Section 1. A special municipal election is hereby called and ordered to be held in and
for the City. oil September 10. 2019. at which there will be submitted to the voters of the City the
following proposition:
"'s7hall the C*ilv of' '41nes, in .Story (-'Oun4% Stute of 1(,,m,a enter into a loan
ag,reement ijn(l issue its general obligation bonds in can onlount not exceeding the
U1710101t t?fS.29,065,000 fi)r the purlmse ofpc�ying the cost. to thill extent, Of
constructin.c)', fi4rnishing, and equilyfing a Healthy L li, Center, inchiding an
aquatic center aml therqln,pool. exercise.fticilities, child care uncl activity areas,
ph�vsical therapy antl ine4lical rehabilitation 'fiteilities, ft diicilities provi :ntg care
an(I services ftir senior citizens, and Inthlic meeting sl)aces wid construciing
necessary public iqfiwstruclure impro ivinents?"
Section 2, The Story County Commissioner of Elections is hereby authorized and
requested to issue a proclamation and notice of the election on the aforementioned proposition
and of the tinie and place thereof and to take all other actions necessary pursuant to state law to
conduct the election.
Section 3. All of the foregoing matter~ are adopted and resolved by this City Council,
and the City Clerk is hereby directed to give written notice thercol'by submitting a copy of(his
resolution at least 46 days before the date of'the election to the Story County, Corn in i ssio tier of
Elections. who has the duty to conduct this election. for approval. ratification and confirmation
to the extent required by Iowa la\v, and such County Commissioner of Elections shall signify
such approval, ratification and confirmation and shall order the election to be conducted in the
manner set forth herein by signing the order attached to this resolution.
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t ORSEY&WHITNEY LLP.ATTORNEYS,DES MOINES.10"WA
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Ames"410370-62 Fh: tik-ql Prot
Section 4. Pursuant to Section 1,150-2 of the Income lax Regulations (the
'*Regulations-)
wlat'ons-) of'the Internal ReN enue Service., the City declares (a) that it intends to undertake
the Project which is reasonably estimated to cost at least $29,065.000, (b) that other than (i)
expenditures to be paid or reirnbursed 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 ofth.is Resolution or a previous intent resolution of the Cit%. or (iii)expenditures anIOUnting
to the lesser of$100,000 or 5(NI) of the proceeds of the 13-onds, or (iv) expenditures constitutinu
preliminary expenditures as defined in Section 1.1 50-2(f)(2) of`the Regulation,,,, no expenditures
for the Project have heretolore 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 ofthe City, and (c) that the
CitN reasonably expects to reimburse the expenditures made for costs of the City out of the
proceeds of the Bonds. J'his declaration is at declaration of official intent adopted pursuant to
Section 1.150-2 of the Regulations.
Section 5. All resolutions or parts of resolutions In conflict herewith are hereby
repealed. to the extent of such conflict.
Passed and approved May 28, 2019.
Attest:
V "XII
City Clerk
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DORSEY WHITNTYLLP.ATTORNE)S.DES NIOINES,IONNA