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ORDINANCE NO. 2309
AN ORDINANCE providing for the issuance
of $2, 380,000 Municipal Hospital Bonds
of the City of Ames, Iowa, and providing
for the payment of the principal and
interest of said bonds .
WHEREAS pursuant to Chapter 407 of the Code of Iowa and a
proper petition signed by qualified electors of said City equal in
number to more than twenty-five per cent of those voting at the
then last preceding regular municipal election in and for the City
of Ames, in Story County, Iowa, this City Council did, by resolu-
tion duly adopted on November 12, 1968, order that at a special
municipal election to be held in said City on December 9, 1968,
there be submitted to the voters the proposition of increasing the
municipal hospital facilities of said City by purchasing a site and
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constructing an additional hospital building and contracting
indebtedness for such purpose not exceeding $2, 580,000 and issuing
bonds for such purpose not exceeding $2,580,000 and levying an
annual tax upon the taxable property in said City not exceeding
five and one-half mills per annum for the payment of said bonds and
the interest thereon; and
WHEREAS notice of said election and of the submission of
said proposition thereat was duly given in manner and form required
by law and said election on said bond proposition was legally held
and conducted on December 9, 1968, and at said election 3100 ballots
were cast on said proposition, of which 2065 votes were cast "Yes "
on said proposition and 1026 votes were cast "No" on said proposi-
tion and 9 ballots were cast blank or were defectively marked, and
it has been and is hereby found and declared that the vote cast in
favor of said proposition was equal to at least sixty per cent (60%)
of -the total votes cast for and against said proposition at said
election and said proposition has heretofore been and is hereby
declared to have been duly carried and adopted; and
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WHEREAS pursuant to authority granted at said election
bonds in the amount of $200,000 have heretofore been issued
under date of June 1, 1969, and the authority granted at said
election is still in full force and effect, and it is deemed
necessary and advisable that provisions be made for the issuance
of the balance of the bonds approved at said election in the
amount of $2, 380,000 to pay an additional part of the cost of
increasing the municipal hospital facilities of said City by
purchasing a site and constructing an additional hospital
building;
NOW, THEREFORE, Be It Ordained by the City Council of the
City of Ames, Iowa, as follows:
Section 1. That an indebtedness for and on behalf of the
City of Ames, Iowa, in the sum of $2, 380,000 for paying the cost, t
that amount, of providing additional municipal hospital facilities
in said City, as referred to in the preamble hereof, be contracted
and for that purpose negotiable coupon bonds of said City in that
amount be issued . That said bonds be each designated as a
"Municipal Hospital Bond", be four hundred seventy-six (476) in
number, numbered from 1 to 476, inclusive, be of the denomination
of $5000 each, bear date of October 1, 1969, and become due and
payable in numerical order on November 1 of each of the respective
years as follows:
Year Amount Year Amount
1970 $ 10,000 1980 $1505000
1971 10,000 1981 150,000
1972 10,000 1982 150,000
1973 90,000 1983 175,000
1974 100, 000 1984 175,000
1175 100,000 1985 200,000
1976 100,000 1986 200,000
1977 125,000 1987 200,000
1978 1255000 1988 185,000
1979 125,000
Section 2. That the bonds of said issue numbered 1
to 134 inclusive, A4d AA/
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shall bear interest at the rate of six percent per
annum, the bonds of said issue numbered 135 to 159 , inclusive,
and 190 to 249 inclusive, shall bear interest at the rate of
ive and
hree fourths percent 6 3/%) per annum, the bonds of said issue
numbered 160 to 189 , inclusive, shall bear interest at the rate
five and
of sixty hundredtpi(trcent 6.60/c,) per annum, the bonds of said issue
numbered 250 to 284 , inclusive, shall bear interest at the
rate ofeyahud ightndredtWcent ( 5 .0) per annum, and the bonds of
said issue numbered 285 to 476 inclusive, shall bear interest
nd
at the rate of ninetyahuundredi cent ( 5,9
%) per annum, all of such
interest being payable semiannually on the first days of May and
November in each year commencing May 1, 1970 until the principal
thereof is paid.
Section 3 . That said interest to the date of maturity of
the principal shall be evidenced by proper interest coupons attached
to each bond and maturing on the dates herein provided; both princi-
pal of said bonds and the interest thereon shall be payable in
lawful money of the United States of America, at the office of the
City Treasurer in the City of Ames, Iowa, ; that said bonds have the
seal of said City affixed thereto and be signed by the Mayor and
attested by the City Clerk of said City; and that the coupons
attached to said bonds shall be signed and attested by said officials
by their respective facsimile signatures and said officials by the
execution of said bonds shall adopt as and for their own proper
signatures their respective facsimile signatures appearing on the
said coupons .
Section 4 . That said bonds hereby authorized shall be
subject to registration as -to principal in the name of the holder
on the books of the City Treasurer, such registration to be
evidenced by notation upon the back of such bonds so registered .
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No bonds so registered shall be subject to transfer except upon
such books and similarly noted on the back of the bond so registered ,
unless the last registration shall have been to bearer . Such
registration of any of said bonds shall not, however, affect the
negotiability of the coupons attached to said bonds, but such
coupons shall continue transferable by delivery merely .
Section 5 . That said bonds and the interest coupons to
be thereto attached, shall be in substantially the following form:
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF IOWA
COUNTY OF STORY
CITY OF AMES
MUNICIPAL HOSPITAL BOND
No.
$5000
KNOW ALL MEN BY THESE PRESENTS: That the City of Ames, in
the County of Story, State of Iowa, hereby acknowledges itself to
owe and for value received hereby promises to pay to bearer, or if
this bond be registered, then to the registered holder hereof, the
sum of Five Thousand Dollars ($5000) on the first day of
November, 19_, together with interest on said sum from the date
hereof at the rate of per cent (_y)
per annum, payable semiannually on the first days of May and
November in each year commencing May 1, 1970 until said principal
sum is paid, all such interest as may accrue on and prior to the
maturity hereof to be payable only upon presentation and surrender
of the interest coupons hereto attached as they severally become
due; both principal hereof and interest hereon are hereby made
payable in lawful money of the United States of America at the
office of the City Treasurer in the City of Ames, Iowa.
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This bond is one of a series of bonds numbered from 1 to
476, inclusive, issued by said City for municipal hospital purposes
in and for said City in all respects in compliance with Chapter 407
of the Code of Iowa, 1966, and all acts amendatory thereof and
supplementary thereto, in conformity with an ordinance duly passed,
approved, recorded and published, and pursuant to an election duly
called, noticed and held for that purpose .
It is hereby certified and recited that all acts, condi-
tions, and things required by the Constitution and laws of the
State of Iowa to exist, to be had or to be done precedent to and in
the issuance of this bond, do exist, have happened, been done and
performed in regular and due form and time as required by law; that
the indebtedness of said City, including this bond, does not exceed
any constitutional or statutory limitation; and that legal and
sufficient provision has been made for the payment of the principal
hereof and interest hereon as the same will respectively become
due .
This bond is subject to registration as to principal in
the name of the holder upon the books of the City Treasurer of said
City, such registration to be noted hereon by said Treasurer, after
which no transfer hereof, except upon such books and similarly
noted hereon, shall be valid unless the last registration shall
have been to bearer. Registration of this bond will not affect the
negotiability of the coupons hereto attached, which shall continue
negotiable by delivery merely, notwithstanding registration hereof.
IN WITNESS WHEREOF, the said City of Ames, by its City
Council, has caused its corporate seal to be hereunto affixed, and
this bond to be signed by its Mayor and attested by its City Clerk,
and the coupons hereto attached to be signed and attested by said
officials by their respective facsimile signatures, and said
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officials, by the execution hereof, do adopt as and for their own
proper signatures, their respective facsimile signatures appearing
on said coupons, all as of the first day of October, 1969 .
Mayor
Attest:
City Clerk
(Form of Coupon)
No. $
On the first day of 19,, the City
of Ames, Iowa, will pay to bearer
Dollars ($ ) at the office of the City Treasurer, Ames,
Iowa, for interest due that day on its Municipal Hospital Bond
dated October 1, 1969, No .
(facsimile signature)
Mayor
„Attest:
facsimile signature)
City Clerk
On the back of each bond there shall also be endorsed a
certificate by the City Treasurer evidencing the registration of
the issuance of the bond in substantially the following form:
STATE OF IOWA
SS
COUNTY OF STORY
The issuance of this bond has been duly and
properly registered in my office .
City Treasurer, Ames, Iowa
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On the back of each bond provision shall also be made for
registration of ownership in the following form:
Date of Name of Signature of
Registration Registered Owner City Treasurer
Section 6. That said bonds be executed as herein provid-
ed as soon after the adoption of thLs ordinance as may be, and
thereupon shall be delivered to the Treasurer of said City, who
shall register the fact of the issuance of same in the book provid-
ed for that purpose and shall deliver said bonds to the purchaser
thereof, upon receipt of the purchase price, same to be not less
than the par value o:.' said bonds, all action heretofore taken in
connection with the sale of said bonds being hereby ratified and
confirmed in all respects .
Section 7. That as required by law, including Chapter
76 of the Code of Iowa, 1966, as amended, and for the purpose of
providing for the levy and collection of a direct annual tax suffi-
cient to pay the interest on said bonds as it falls due, and also
to pay and discharge the principal thereof at maturity, and to
create a sinking fund for said purpose, there be and there is
hereby levied upon all of the taxable property in said City in
each of the years while said bonds or any of them are outstanding,
a tax sufficient for that purpose, and in furtherance of this
provision, but not in limitation thereof, there be and there is
hereby levied on all the taxable property in said City the following
direct annual tax, to-wit :
For the year 1969 a tax sufficient to produce the
sum of $ 161,480 for principal and interest and
sinking un ;
For the year 1970 a tax sufficient to produce the
sum of $ 149, 228 for principal and interest and
sinking fund;
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For the year 19'71 a tax sufficient to produce the
sum of $ 148,628 for principal and interest
and sinking fund;
For the year 1972 a tax sufficient to produce the
sum of $ 228, 028 for principal and interest
and sinking fund;
For the year 1973 a tax sufficient to produce the
sum of $ 232,628 for principal and interest
and sinking fund;
For the year 1974 a tax sufficient to produce the
sum of $ 226, 628 for principal and interest
and sinking fund;
For the year 1975 a tax sufficient to produce the
sum of $ 228, 152 for principal and interest
and sinking fund
For the year 1976 a tax sufficient to produce the
SUM of $ 234, 500 for principal and interest
and sinking fund ;
For the year 1977 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1978 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1979 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1980 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1981 a tax sufficient to produce the
sum of $ 234L500 for principal and interest
and sinking fund;
For the year 1982 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1983 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1984 a tax sufficient to produce the
sum of $ 234, 500 for principal and interest
and sinking fund;
For the year 1985 a tax sufficient to produce the
sum of $ 234, 515 for principal and interest
and sinking fund;
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For the year 1986 a tax sufficient to produce the
sum of $ 222, 715 for principal and interest
and sinking fund;
For the year 1987 a tax sufficient to produce the
sum of $ 195, 915 for principal and interest
and sinking fund;
Said taxes shall be levied and assessed in addition to
all other taxes, and when collected, shall be converted into a
special account for the payment of principal and interest of the
bonds hereby authorized and for no other purpose whatsoever.
That the principal or interest coming due at any time
when there are insufficient funds on hand to pay the same be
promptly paid when due from current funds on hand, and reimburse-
ment be made to such current funds in the sums thus advanced
when the taxes herein provided shall have been collected .
Section 8. That a certified copy of this ordinance be
filed with the County Auditor of Story County and that said Auditor
be and he is hereby instructed, in and for each of the years1969
to 1987, inclusive, to enter for collection and assess the tax
hereby authorized, all as required and provided by Chapter 76 of
the Code of Iowa, 1966, as amended. 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 said taxes shall be converted
into the debt service fund of said City and set aside therein as
a special account to be used solely and only for the payment of the
principal of and interest on the bonds hereby authorized and for
no other purpose whatsoever .
Section 9. That all ordinances, resolutions and orders
or parts thereof in conflict herewith be and the same are hereby
repealed.
Passed and approved September25 , 1969 .
JbLau.cclE.
A t t rt: _ Mayor
City Cler
Recorded September 25, 1969 .
Published SeptemberAf , 1969 .
.1 City Clerk
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(Attach here clipping of bond
ordinance as published and
publisher 's affidavit)
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I, Louise Whitcome , being first duly sworn, do
hereby depose and certify that I am the duly appointed, qualified
and acting City Clerk of the City of Ames, in the County of Story,
State of Iowa, and that as such I have in my possession, or have
access to, the complete corporate records of said City 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 and issuance of $2, 380,000 Municipal Hospital Bonds o
said City to be dated October 1, 1969, 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 authoriza-
tion and issuance of the said bonds .
WITNESS my hand and the corporate seal of said City
hereto affixed at Ames, Iowa, this 25th day of September, 1969.
City Clerk
(SEAL)
STATE OF IOWA
SS
COUNTY OF STORY
Subscribed and sworn to before me this day, the date last
above written.
Notary tfublic
My commission expires: July 4, 1972
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