HomeMy WebLinkAbout~Master - Providing for General Obligation Sewer Bonds ORDINANCE NO. 2051
An ordinance providing for the issuance of General
Obligation Sewer Bonds in the sum of $140, 000 for
the purpose of defraying the cost of constructing
sewer improvements in said. City, and providing for
the levy of taxes to pay the same.
WHEREAS, the City of Ames, in Story County, State of Iowa,
is a municipal corporation, under the Council-Manager form of
government, duly incorporated, organized and existing under and by
virtue of the laws and Constitution of the State of Iowa, and not
under any special charter or provisions, and has not adopted the
Commission form of government; and
WHEREAS, said. City, pursuant to and in strict compliance with
all laws applicable to said City, has lawfully ordered and. contracted
for constructing sewer improvements in said City, in the manner
authorized by Chapter 391 of the Code of Iowa, the cost thereof
to be paid to the amount of $140, 000 at the general expense of
said. City, and it is now necessary to make definite provision rela-
tive to payment for said. construction, such provision having not
yet been made; and
WHEREAS, notice of hearing on the initiation of proceedings
for the issuance of said bonds has heretofore been given in manner
and form as required by Section 23 .12 of the Code of Iowa, and no
petition nor protest has been filed; now therefore
IT IS ORDAINED by the City Council of the City of Ames,
Iowa, as follows :
Section 1. That in pursuance of Section 396. 22 of the Code of
Iowa, there are hereby authorized to be issued One Hundred Forty
(140) negotiable General Obligation Sewer Bonds of said City,
numbered consecutively from One (1) to One Hundred Forty (140) ,
both inclusive, in the denomination of $1, 000 each, said bonds to
be dated the First day of September, 1964, all of which bonds
numbered One (1) to One Hundred. Forty (140) , both inclusive, shall
bear interest from and after the date thereof until paid at the
rate of Three Per Cent (3 . 00%) per annum, said interest payable
on the First day of May, 1965 , and semi-annually thereafter on the
First day of May and November in each year, such interest to be
evidenced by negotiable coupons attached to each bond; both
principal and interest payable in lawful money of the United States
of America, at the office of the City Treasurer, in the City of
Ames , State of Iowa. Said. bonds shall become due and payable in
their numerical order, as follows :
Bonds Nos . 1 to 10, inc. $10, 000 on November 1, 1965
Bonds Nos. 11 to 20, inc. $10, 000 on November 1, 1966
Bonds Nos. 21 to 30, inc. $10, 000 on November 1, 1967
Bonds Nos. 31 to 40, inc. $10, 000 on November 1, 1968
Bonds Nos. 41 to 50, inc. $10, 000 on November 1, 1969
HERRICK. LANGDON. SANDBLOM & BELIN. LAWYERS, DES MOINES, IOWA
Bonds Nos. 51 to 60, inc. $10, 000 on November 1, 1970
Bonds Nos . 61 to 70, inc. $10, 000 on November 1, 1971
Bonds Nos . 71 to 80, inc. $10, 000 on November 1, 1972
Bonds Nos . 81 to 90, inc. $10, 000 on November 1, 1973
Bonds Nos. 91 to 100, inc. $10, 000 on November 1, 1974
Bonds Nos . 101 to 110, inc. $10, 000 on November 1, 1975
Bonds Nos . 111 to 120, inc. $10, 000 on November 1, 1976
Bonds Nos. 121 to 130, inc. $10, 000 on November 1, 1977
Bonds Nos. 131 to 140, inc. $10, 000 on November 1, 1978
Section 2 . The General Obligation Sewer Bonds hereby author-
ized shall be in form substantially as follows :
(Form of Bond)
UNITED STATES OF AMERICA
State of Iowa County of Story
CITY OF AMES SEWER BOND
No. $1,000
The City of Ames, in the State of Iowa, for value received
promises to pay to Bearer, One Thousand Dollars in lawful money
of the United States of America, on the First day of November,
19 , with interest on said sum from the date hereof until
paid, at the rate of Three Per Cent (3 . 00%) per annum, payable on
the First day of May, 1965 , and semi-annually thereafter on the
First day of May and November in each year, upon presentation and
surrender of the interest coupons hereto attached as they severally
become due; both principal and interest payable at the office of
the City Treasurer, in the City of Ames, State of Iowa.
This bond is issued by the City of Ames, pursuant to and in
strict compliance with the provisions of Chapters 23, 76 and
Section 396.22 of the Code of Iowa, and in conformity with an
ordinance of the Council of said. City, duly passed, approved and
published., for the purpose of defraying the cost of constructing
sewer improvements in said City.
And It Is Hereby Certified and Recited.: That all acts, con-
ditions and things required by the laws and Constitution of the
State of Iowa, to exist, to be had, to be done and to be performed
precedent to and in the issue of this bond, were and have been
properly existent, had, done and performed in regular and due
form and time as required by law; that provision has been made
for the levy of a sufficient continuing annual tax on all the
taxable property within said City for the payment of the principal
and interest hereof at maturity; and that the total indebtedness
of said. City, including this bond, does not exceed the Constitu-
tional or Statutory limitations .
IN TESTIMONY WHEREOF, said City, by its Council, has caused
this bond to be signed by its Mayor and attested by the City
Clerk, with the seal of said City affixed., as of the First day of
September, 1964.
HERRICK, LANGDON, SANDBLOM a BELIN, LAWYERS, DES MOINES, IOWA
Mayor of the City of Ames
Attest:
Clerk of We City of Ames
(Form of Coupon)
AMES,, IOWA
No. $1, 000
On 1, 19 the Treasurer of the City of
Ames, Iowa, will pay to Bearer
Dollars, at the office of the City Treasurer, Ames, Iowa, for
semi-annual interest then due on its General Obligation Sewer
Bond, dated September 1, 1964, No.
Clerk of- tW City of Ames
HERRICK, LANGDON, SANDBLOM a BELIN, LAWYERS, DES MOINES, IOWA
(On the back of each bond shall be endorsed the certificate of
the City Treasurer, in the following form: )
STATE OF IOWA )
COUNTY OF STORY ) ss . CITY TREASURER'S CERTIFICATE
CITY OF AMES )
This bond duly and properly registered in my office as of
the 1st day of September 1964 .
Treasurer of the City of Ames
Section 3 . The bonds hereby authorized shall each be signed
by the Mayor and attested by the City Clerk, with the seal of the
City affixed, and the interest coupons thereto attached, shall
each be executed with the signatures of the City Clerk or facsimile
thereof, and said Clerk, by the execution of said bonds , shall
adopt as and for his own proper signature his facsimile signature
on said coupons , and when so executed, said bonds shall be delivered
to the City Treasurer and shall be by him registered and delivered
to Northern Trust Company - College Savings Bank of Chicago, Illinois,
the purchaser thereof, and the sale of said bonds to said purchaser
is hereby ratified and confirmed.
Section 4, That as required by Section 76.2 of the Code of
Iowa, and in order to provide for the assessment and collection
of an annual levy upon all the taxable property in said City, in
addition to the levy authorized for other purposes, sufficient to
pay the interest on said bonds as it falls due, and also to pay and
discharge the principal as the same matures, there shall be and
there is hereby authorized and levied upon all the taxable property
within said City, a direct annual tax for each of the years while
saidbonds or any of them are outstanding in amounts sufficient for
that purpose and in particular but not in limitation of the foregoing,
the amounts levied during the respective years for such purpose shall
be as follows:
A direct annual tax upon all the taxable property within said
City for each of the Fourteen (14) consecutive years, 1964 to 1977,
both inclusive, (beginning with the levies of the year 1964 for
collection during the year 1965, and ending with the levies of
the year 1977 for collection during the year 1978) sufficient to
produce the following net annual sums for the respective years for
interest and principal as the same mature and to create sinking
funds for that purpose, as follows:
For the year 1964 for collection during the year 1965
sufficient to produce the net annual sum of $14,900.00;
For the year 1965 for collection during the year 1966
sufficient to produce the net annual sum of $13,900.00;
For the year 1966 for collection during the year 1967
sufficient to produce the net annual sum of $13,600.00;
HERRICK. LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
For the year 1967 for collection during the year 1968
sufficient to produce the net annual sum of $13, 300.00;
For the year 1968 for collection during the year 1969
sufficient to produce the net annual sum of $13,000.00;
For the year 1969 for collection during the year 1970
sufficient to produce the net annual sum of $12 , 700.00;
For the year 1970 for collection during the year 1971
sufficient to produce the net annual sum of $12 ,400.00;
For the year 1971 for collection during the year 1972
sufficient to produce the net annual sum of $12 , 100.00;
For the year 1972 for collection during the year 1973
sufficient to produce the net annual sum of $11, 800 .00;
For the year 1973 for collection during the year 1974
sufficient to produce the net annual sum of $11, 500.00;
For the year 1974 for collection during the year 1975
sufficient to produce the net annual sum of $11,200 .00;
For the year 1975 for collection during the year 1976
sufficient to produce the net annual sum of $10,900.00;
For the year 1976 for collection during the year 1977
sufficient to produce the net annual sum of $10, 600.00;
For the year 1977 for collection during the year 1978
sufficient to produce the net annual sum of $10, 300.00.
Section 5. The City Clerk shall annually in due time, manner
and season, certify to the County Auditor the taxes herein provided
for in addition to levies authorized for other purposes and without
condition as to various amounts as herein provided being included
in the annual certification of taxes, the County Auditor shall
annually enter said respective amounts for collection and the
moneys arising from such tax levies shall be used for the payrAent
of said bonds and the interest thereon and for no other purpose
whatever.
Section 6. The interest falling due during the year 1964
and the interest or principal and both of them falling due in
subsequent year or years , shall, if necessary, be paid promptly
from current funds on hand in advance of taxes levied, and when
said taxes shall have been collected, reimbursement shall be made
to such current funds in the sum thus advanced .
Section 7 . This ordinance shall be irrepealable until all
the aforesaid bonds both principal and interest, are fully paid
and discharged .
Section 8. All ordinances and resolutions or parts thereof
in conflict herewith, be and the same are hereby repealed .
HERRICK. LANGDON, SANDBLOM a BELIN, LAWYERS, DES MOINES. IOWA
Section 9 . A certified copy of this ordinance shall be
} filed with the County Auditor of said County of Story, and said
Auditor shall be and he is hereby instructed in and for each of
the years 1964 to 1977, inclusive, to enter for collection and
assess the tax hereby authorized . When annually entering said
taxes for collection the County Auditor shall include the same
as a part of the tax levy for debt service fund purposes of said
City, and when collected, the proceeds of the said taxes shall
be converted into the debt service fund of said City and set
aside therein as a special account and sinking fund to be used
solely and only for the payment of the principal and interest
of the bonds hereby authorized and for no other purpose whatso-
ever.
Section 10. This ordinance shall take effect and be in force
from and after its passage and publication, as by statute provided .
Passed this 20th day of October 1964.
Mayor
Attest: _
City Cleal
(SEAL)
This ordinance hereby approved this 20th day of
October 1964.
Mayor
Attest: //[. !
at-/�
City Cle
(SEAL)
Recorded in the records of said City this 20th day of
October , 1964, and officially published
on the 23rd day of October , 1964.
City Clerk
HERRICK, LANGDON, SANDBLOM a BELIN, LAWYERS, DES MOINES, IOWA
S_:M
Ames, Iowa
October 20 , 1964
The City Council of the City of Ames, in Story County,
State of Iowa, met on the 20th day of October , 1964,
at 8:00 o'clock P.M. , C S T. , at the Council Chambers
of City Hall , Ames, Iowa, pursuant to prior action of
the Council and to law, for the purpose of instituting proceedings
and taking action for the issuance of $140, 000 General Obligation
Sewer Bonds for the purpose of defraying the cost of constructing
sewer improvements in said City, and providing for the levy of
taxes to pay the same and for the transaction of such other business
as might come before said meeting.
The meeting was called to order by the Mayor, and the roll
being called, there were
Present, De Hart Mayor, in the chair, and the
following named Councilmen:
Armstrong, Judge, Pasley, Eschbach, Bledsoe
Absent: Fisher
The Council then considered the adoption of an ordinance
providing for the issuance of $140, 000 General Obligation Sewer
Bonds and Councilman Judge introduced an ordinance
entitled: "Ordinance No. 2051 An ordinance providing for
the issuance of General Obligation Sewer Bonds in the sum of
$140, 000 for the purpose of defraying the cost of constructing
sewer improvements in said City, and providing for the levy of
taxes to pay the same ."
It was moved by Council Judge and seconded by
Councilman Armstrong that the ordinance entitled: "Ordinance
No. 2051 An ordinance providing for the issuance of General
Obligation Sewer Bonds in the sum of $140, 000 for the purpose of
defraying the cost of constructing sewer improvements in said City
and providing for the levy of taxes to pay the same" be now read by
the City Clerk. The Mayor put the question on the motion, and the
roll being called, the following named Councilmen voted:
Ayes: Armstrong, Judge, Pasley, Eschbach, Bledsoe
Nays: None.
Whereupon, the Mayor declared the motion duly carried and said
ordinance was read by the City Clerk and duly considered by the
Council.
It was moved by Councilman Eschbach and seconded by
Councilman Bledsoe that the rule requiring said ordinance
to be read on three different days be dispensed with. The Mayor put
HERRICK. LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
the question on the motion, and the roll being called, the follow-
ing named Councilmen voted:
Ayes: Armstrong, Judge, Pasley, Eschbach, Bledsoe
Nays: None.
Whereupon, the Mayor declared the motion duly carried .
It was moved by Councilman Judge and seconded by
Councilman Pasley that the ordinance entitled:
"Ordinance No. ZQ5.1 An ordinance providing for the issuance
of General Obligation Sewer Bonds in the sum of $140, 000 for the
purpose of defraying the cost of constructing sewer improvements
in said City, and providing for the levy of taxes to pay the
same" be now put upon its final passage and adoption. The Mayor
put the question on the final passage and adoption of said ordinance,
and the roll being called, the following named Councilmen voted:
Ayes: Armstrong, Judge, Pasley, Eschbach, Bledsoe
Nays: None ,
Whereupon, the Mayor declared said ordinance duly adopted
and signed his approval to said ordinance.
On motion and vote the meeting adjourned.
City Cle
(SEAL)
HERRICK, LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
STATE OF IOWA )
COUNTY OF STORY ) ss.
CITY OF AMES )
I, M. W. Jordan City Clerk of the City of Ames,
in Story County, State of Iowa, do hereby certify that a correct
and complete copy of the ordinance of said City, adopted by the
Council thereof on the 20th day of October 1964,
approved by the Mayor on the 20th day of October 1964,
entitled: "Ordinance No. 2051 . An ordinance providing for the
issuance of General Obligation Sewer Bonds in the sum of $140, 000
for the purpose of defraying the cost of constructing sewer
improvements in said City, and providing for the levy of taxes to
pay the same" was officially published on the 23r&ay of October
1964, in The Ames Daily Tribune
a legal newspaper, printed wholly in the English language, published
in said City of Ames, Iowa, and of general circulation therein.
WITNESS my hand and the seal of said City hereto affixed at
Ames, Iowa, this 23rd day of October 1964.
City Clerk
(SEAL)
(Attach here publisher' s original affidavit of publication with
clipping of ordinance as published. )
HERRICK, LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
STATE OF IOWA )
ss.
COUNTY OF STORY )
I, M_ W_ Jordan City Clerk of the City of Ames,
in the County and State aforesaid, do hereby certify that the
aggregate General Obligation indebtedness of said City, howsoever
evidenced or incurred, does not exceed the sum of One Million Five
Hundred Eighty 'Three Thousand Dollars ($ 1, 583, 000.00 ) , (excluding
this issue. )
WITNESS my official signature and the seal of said City at
Ames, Iowa, this 23rd day of October 1964.
City Clerk
(SEAL)
Subscribed and sworn to before me this 23rd day of October
1964.
Notary &Wic in and for said County
My commission expires:
(SEAL)
HERRICK, LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
STATE 'OF IOWA )
SS
COUNTY OF STORY )
I, M. W. Jordan City Clerk of the City of
Ames, in the County and State aforesaid, do hereby certify
that the ,said City in organized and operating under the provisions
of Title XV of the Code of Iowa, as now amended, and not under
any special charter, and that said City has adopted and is
operating under the Council-Manager form of government, but has
not adopted the commission form of government and that there is
not pending or threatened any question or ,litigation whatsoever
touching the incorporation, of said City, than inclusion of any
territory within the limits of said City, 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 said City as indicated:
rr.roPim;1- YrrPiiw 0ua Y��.... ....r ......'�..� Mayor
J. R. Castner City Manager
M. W. Jordan City Clerk
M. W. Jordan City Auditor
,oRoger� G. Alley City Treasurer
Arthur H. Eschbach , Councilman
R. G. -P_aslam, ram, , Councilman
J. Edward Judge , Councilman
Ray W. Fisher , Councilman
J. D. Armstrong Councilman
Donald T. Bledsoe Councilman
WITNESS my hand and the seal of said City at Ames, Iowa,
this 2....23rd... day of October , 1964-
(SE") City Clerk
HERRICK, LANGDON. SANDBLOM & BELIN. LAWYERS. DES MOINES. IOWA •
I, M. W. Jordan being first duly sworn, do hereby
depose and certify that I am the duly appointed, qualified and
acting Clerk of the City of Ames, in the State of Iowa, and that
as such Clerk I have in my possession or have access to the
complete corporate records of said municipality and of its Council
and officers, and that I have carefully compared the transcript
hereto attached with the aforesaid corporate records; and that
said transcript hereto attached is a true, correct and complete
copy of all the corporate records in relation to the authorization,
issuance and disposition of $140, 000 ( 3. 00 %)
General Obligation Sewer Bonds of said municipality, to be dated
September 1, 1964, and that said transcript hereto attached contains
a true, correct, and complete statement of all the measures adopted,
and proceedings, acts and things had, done and performed up to the
present time in relation to the authorization, issuance and dis-
position of said bonds; and that the said Council consists of
Six ( 6 ) members.
WITNESS my hand and the City seal hereto affixed at Ames,
Iowa, this 23rd day of October , 1964.
)9,' - d"J._j
City Clerk
(SEAL)
STATE OF IOWA )
ss.
COUNTY OF STORY )
Subscribed and sworn to before me by said M. W. Jordan
this 23rd clay of October 1964.
< 1
Notary P✓ t 1l'c in and for said County
My commission expires:
(SEAL)
HERRICK, LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA
STATE OF IOWA )
ss.
COUNTY OF STORY )
I, Dorothy J. Elliott County Auditor of said
County, do hereby certify that on the 27th day of October
1964, the City Clerk of the City of Ames, in said County and State,
certified and delivered to me a complete copy of an ordinance of
said City adopted by the Council thereof on the 20th day of
October , 1964, approved by the Mayor thereof on the
20th day of October , 1964, and officially published on
the 23rd day of October , 1964, entitled: "Ordinance
No. 2051 An ordinance providing for the issuance of General
Obligation Sewer Bonds in the sum of $140, 000 for the purpose of
defraying the cost of sewer improvements in said City, and providing
for the levy of taxes to pay the same" , and that I have duly placed
said copy of said ordinance on file in my records,
I further certify that the taxes provided for in said
ordinance will in due time, manner and season be entered on the
State and County tax lists of said County for the year 1964, and
subsequent years as provided in said ordinance.
WITNESS my hand and the County seal hereto affixed at Ames,
Iowa, this 27th day of October 1964.
r
County Auditor,//
(SEAL)
HERRICK, LANGDON, SANDBLOM & SELIN, LAWYERS, DES MOINES, IOWA
STATE OF IOWA )
SS.
COUNTY OF STORY )
I, Dorothy J. Elliott County Auditor of the County
aforesaid, do hereby certify that the value of taxable property
of every kind and character in the City of Ames, in said County,
as entered on the last completed state and county tax lists,
same being for the year 1963, is as follows:
Actual value of all taxable property
except moneys and credits $ 47, 303, 223
Assessed and taxable value of all
taxable property, except moneys and
credits $ 28, 381,934
Assessed and taxable value of moneys and 2 m - 2,935, 745
credits $ 6 In -11,982, 076
WITNESS my hand and the seal of said County this 27th day
of October 1964.
County Auditor
(SEAL)
HERRICK, LANGDON, SANDBLOM & BELIN, LAWYERS, DES MOINES, IOWA