HomeMy WebLinkAboutA001 - proof of publication, September 14, 1971 Proof of Publication in The
ANTES DAILY TRIBUNE
STATE OF IOWA,STORY COUNTY,ss.
I, 316MX QXIC&AM, W. T. Farley on oath
depose and say that I am)OXbU(ber, foreman
of the AMES DAILY TRIBUNE, a daily
newspaper, printed at Ames, Story County,
Iowa; that the annexed printed -__-----_---
�
was published in said newspaper for --_l
consecutive weeks, the first ________________
and the last of said publication was on the
_-.1_4 LL--- day of __S_G'_ptember-------
197�__. _
-`=�a-7/-f - ----- ------
Sworn to before me and subscF,' , in my
Presence by 3C a. y113 �
this ---1 f2Tb_- day of_:_a
:Notary PyIkE':
_ in kttd?or Story, tica�tt}
BOOK j/lp_PApG�p�IS Fees.
INSTR. NO. `; /D FILED OR RECORD THE DAgYlOOF STATE OF IOWA, STORY COUNTY.
RECORDING FEE .�, 19z� ATE � ��%�- ecorder
TRANSFER FEE O'CLOCK_-,4_'_.M. BOOK11j6 PAGE__ Deputy
INN XED..,..v.......M�1t�Glfi1..... COMA
RECOM — Comp
FILED FOR RECORD.
STATE OF IOWA
STORY COUNTY 1? ss
c� T -4 1971
AtO...........o'ciock.A......M. and
Indexed /
Rec`�o�r- In Book..., /..4-..
on pa of. ........
ELLA M. HORHBACHER, RECORDER
BY........................................
De ut
i
11
l•
� y
u 598
INST. NO:,,,,,;
STORY COUNTY, IOWA
FILED FOR RECORD
A.X%CT -41971 ;
FEE $ 14. 50 ELLA M. Bur NBACUER, Recorder
ot...............................................Deputy
the east line of Burnett
complete the acquisition
uisition of pri
or to such redemption
tion date
Avenue produced and the
such parkin
g lots an in a d newspaper f
P g
ews a o general
^utherl i
P Pe
line of s this
y facilities,and all of the
terms circulation
culati on in the Statef
o
Track
c No 1 and said
Point an
d conditions contained in Iow
a.
being65 1 fe
et southerly
said ordinance o cethe Both principal and
d interest terest
from the south line of issuance of additional bonds of said bonds shall be payable
ORDINANCE NO.2374 Onondago or Main Street ranking on a parity having in lawful money of the United
An ordinance authorizing and said point is 0.9 feet been met as required by States of America at the office
and providing for the southerly from the 50 feet Section 14 of said Ordinance of the City Treasurer in and of
issuance and securing the clearance northerly from No. 2092; and the City of Ames, Iowa. All of
payment of $100,000 the center line of the WHEREAS, the cost of said bonds and the interest
Parking Lot Revenue present West Bound completing the acquisition of thereon together with
Bonds of the City of Ames, Vain; thence easterly on said parking lots first above previously issued and out-
Iowa,under the provisions tangent to the preceding described exceeds the sum of standing Parking Lot Revenue
of Chapter 390 of the Code curve 326.1 feet more or $540,000 and it is necessary Bonds in the remaining
of Iowa,for the purpose of less to the point of that additional revenue bonds amount of $340,000, dated
defraying the cost of beginning. of said City to the amount of September 1, 1965, and also
acquiring municipal Also beginning from the $100,000 be issued as together with any additional
parking lots in and for point of intersection of the authorized under the bonds ranking on a parity
said City. south line of Onondago provisions of Section 390.9 of therewith that may be issued
WHEREAS, following a Street (now called Main the Code of Iowa, and Section and outstanding under the
public hearing on August 3, Street)and the east line of 14 of the aforementioned conditions and restrictions
1965,conducted in the manner Kellogg Avenue, said Ordinance No. 2092, to pay hereinafter set forth shall be
and as authorized and point being the Northwest said cost; and payable solely from the bond
provided in Section 390.1 of the corner of Block 13, WHEREAS, a notice of the and interest redemption
Code of Iowa, 1962, the City of original Town of Ames, intention of the Council of said sinking fund hereinafter
Ames, in the County of Story, Iowa, proceed southerly City to take action for the created, and shall be a valid
State of Iowa, had heretofore along the east line of issuance of $100,000 Parking claim of the holder thereof
determined that public con- Kellogg Avenue 113 feet to Lot Revenue Bonds of said only against said fund, and
venience and necessity would the point of beginning of City has heretofore been given none of said bonds shall be a
be served by the establish- land to be sold. Said point in the manner and form general obligation of said City
ment and acquisition of of beginning being located required by Section 23.12 of nor payable in any manner by
certain parking lots or other 0.08 feet southerly from the Code of Iowa and no taxation, but said bonds and
off-street parking areas for the 50 feet clearance point petition nor protest has been said previously issued bonds
the parking of vehicles in said northerly from the center filed and no petition has been and such additional bonds as
City as hereinafter described; line of the present West filed in the office of the City may be issued on a parity
and Bound main and said point Clerk asking that the therewith shall be payable,
WHEREAS, in furtherance of beginning being located proposition of issuing said both as to principal and in-
thereof it had been deter- 50 feet clear northerly bonds be submitted to the terest, solely and only from
mined that it was necessary from the center line of the voters of said City; and the future net revenues
that the following parking lots Railroad original main WHEREAS, it is the desire derived from the operation of
be acquired in order to line.Thence northeasterly and intent that provision be the municipal parking lots of
provide adequate facilities for 825.2 feet more or less to a made in and by this ordinance the City of Ames, Iowa, and
off-street parking: . point on the west line of for the issuance of such from the streetline parking
Beginning from the Duff Avenue and 16 feet revenue bonds for the purpose meters, such revenues being
point of intersection of the South of the South line of aforesaid and to set forth Pledged therefor as
south line of Onondago Main Street; thence herein the terms and con- hereinafter provided, and
Street (now called Main southerly 65.8 feet along ditions upon which said under no circumstances shall
Street) and the west line the west line of Duff revenue bonds and any ad- said City be in any manner
of Kellogg Avenue said Avenue to a point 35 feet ditional bonds ranking on a liable by reason of the failure
point being the northeast clear northerly from the parity therewith are to be and of said net revenues to be
corner of Block 14, center line of the proposed may be issued and out- sufficient for the payment of
original Town of Ames, East Bound Main; thence standing, to set forth the said bonds and interest
Iowa, proceed southerly westerly parallel to and 35 covenants and undertakings of thereon.
along the west line of feet clear northerly from the City with respect to the Section 2. That said bonds
Kellogg Avenue 121 feet to the center line of the operation and maintenance of and coupons shall be in sub-
the point of beginning of proposed East Bound said Darking lots and Darkin¢ stantially the following form-►'
f
land to be sold. Said point Main 242.68 feet to the TS meters and to restrict the (Form of Bond)
of beginning being of an oscillating curve to rights of the holders of said UNITED STATES OF
located 1.1 feet the right; thence westerly revenue bonds from time to AMERICA
southerly from the 50 along the spiral to the time outstanding in the source STATE OF IOWA
feet clearance point right for 159.15 feet to the f payment of the interest on COUNTY OF STORY
northerly from the center SC of the spiral whose and principal of said revenue CITY OF AMES
line of the present West degree of curvature bonds and in the enforcement PARKING LOT REVENUE
Bound Main. Thence varies directly with the thereof; BOND
southerly along the west distance along the spiral NOW, THEREFORE, Be It SERIES 1971
line of Kellogg Avenue from the TS and with the Ordained by the City Council No. $5,000
137.2 feet to a point 35 feet degree of curvature at the of the City of Ames, Iowa, as KNOW ALL MEN BY THESE
clear northerly from the SC amounting to 1 25 with follows: PRESENTS:
center line of the proposed a radius of 4043.56 feet; Section 1. That for the That the City of Ames,in the
East Bound Main; thence thence westerly 353.66 feet purpose of defraying the cost County of Story and State of
westerly along a curve to along the curve right with of completing the acquisition Iowa, for value received,
the right whose radius is a radius of 4043.56 feet of the municipal parking lots promises to pay to bearer, or
4043.56 feet and said curve that is parallel to and 35 for the off-street parking of if this bond be registered as
feet clear northerly from hereinafter provided then to
being parallel to and 35 motor vehicles in Said City, as
feet distance northerly the center line of the described in the preamble the registered holder hereof,
from the center line of the proposed East Bound solely from the source
Main to a point on the east hereof,there and there are hereinafter specified, the sum
proposed East Bound hereby authorized to be issued
Main for$65.75 feet to the line of Kellogg Avenue; the negotiable interest of Five Thousand Dollars
westerly line at Clark thence northerly along the bearing revenue bonds of said ($5,000) on the First day of
Avenue produced from the east line of Kellogg City of Ames in the principal January, 19 , and to pay
north; thence northerly Avenue 138.4 feet to the amount of $100,000, each of interest on said sum from the
along said west line of point of beginning. date hereof at the rate of Five
Also beginning at the which shall be known and and One-half Per Cent (51,$%)
Clark Avenue produced g g designated as a Parking Lot
64.9 feet to a point 3.9 feet southwest corner of Lot 7, Revenue Bond Series 1971", per annum, payable Janu-
from the 50 feet clearance Block 40 Second Addition bearing date of July 1, 1971, ary 1, 1972, and semian-
point northerly from the to the City of Ames, Story numbered 1 to 20 inclusive of nually thereafter on the first
center line of the present County, Iowa, thence the denomination of $5,000 day of January and July in
West Bound Main and northeasterly along the each, of which issue bonds each year until said principal
193.9 feet southerly along South line of said Block 40, numbered 1 to 20 , inclusive, sum is paid, except as the
the west line of Clark to the southeast corner shall bear interest at the rate provisions hereinafter set
Avenue from the south Lot 1 said Block 40,thence of Five and One-Half Per Cent forth with respect to
line of Onondago or Main South 22 feet more or less (5 1/2 V per annum, such redemption prior to maturity
Street as located in Blair's to a point 35 feet clear interest to be payable January may be and become ap-
Addition; thence easterly, northerly from the center 1, 1972, and semiannually plicable hereto, such interest
along a curve to the left line of the proposed East thereafter on the first day of as may accrue on and prior to
whose radius is 4247.18 Bound Main, Chicago and July and January in each the maturity of this bond to be
feet and said curve lays Northwestern Railroad, year, and said bonds shall paid on presentation and
parallel to and 50 feet thence southwesterly mature in numerical order on surrender of the interest
clearance from the center parallel to and 35 feet January 1 of the respective coupons hereto attached as
line of the Railroad clear northerly from the years as follows: they severally become due;
original main line, 70 feet center line of the proposed Bonds Nos. 1 and 2—$10,000 both principal and interest
more or less to a point on East Bound Main to the on January 1, 1972 being payable in lawful money
the east line of Clark West line of Duff Avenue, Bonds Nos. 3 and 4—$10,000 of the United States of
Avenue and said point thence North 60 feet more on January 1, 1973 America at the office of the
being 73.2 feet northerly or less to the point of Bond No. 5—$5,000 on City Treasurer in and of the
from the southerly line of beginning. January 1, 1974 City of Ames, Iowa.
this Track No. 1 as and Bond No. 6—$5,000 on This bond is one of a series
measured along the east WHEREAS, traffic con- January 1, 1975 of bonds numbered con-
line of Clark Avenue ditions upon the streets of said Bond No. 7—$5,000 on secutively from 1 to 20,'in-
produced from the north City are such as to necessitate January 1, 1976 elusive, issued by said City
and said point being 2.8 and require for the public Bond No. 8—$5,000 on pursuant to the provisions of
feet southerly from the 50 benefit, safety and con- January 1, 1977 Chapter 390 of the Code of
feet clearance point venience of said City and its Bonds Nos.9 and 10—$10,000 Iowa, 1971, and all other laws
northerly from the center inhabitants that said parking on January 1, 1978 amendatory thereof and
line of the present West lots be maintained and Bonds Nos. 11 and 12— supplemental thereto, and in
Bound Main and said point operated by said City in order $10,000 on January 1, 1979 conformity with an ordinance
being 192.8 feet southerly that motor vehicular traffic Bond No. 13—$5,000 on of the City Council of said City
from the south line of congestion upon the streets of January 1, 1980 duly and finally passed on the
Onondago or Main Street said City be alleviated and Bond No. 14—$5,000 on 7th day of September, 1971,
as measured along the properly controlled; and January 1, 1981 and published as required by
east line of Clark WHEREAS, under the Bonds Nos. 15 and 16— law, for the purpose of
Avenue; thence northerly provisions of Chapter 390 of $10,000 on January 1, 1982 defraying the cost of acquiring
72.8 feet along the east line the Code of Iowa,said City has Bonds Nos. 17 and 18— additional public motor
of Clark Avenue, thence heretofore installed parking $10,000 on January 1, 1983 vehicle parking lots and is not
easterly 337.1 feet to a meters upon the streets of said Bond No. 19—$5,000 on a general obligation of said
point on the west line of City and establisned January 1, 1984 City, but this bond and the
Burnett Avenue, said regulations for their use in Bond No. 20—$5,000 on series of which it forms a part,
point being 120 feet order to properly regulate and January 1, 1985 together with previously
southerly from the south control motor vehicular Provided, however, that by issued and outstanding
line of Onondago or Main traffic upon the streets within reason of the reasonable parking lot revenue bonds and
Street as measured along said City; and assurance the City will have also together with any ad-
the west line of Burnett WHEREAS, pursuant to revenue funds available from ditional bonds that may be
Avenue, thence southerly Ordinance No. 2092, adopted time to time for the retirement issued and outstanding from
53.4 feet along the west on the 7th day of September, of bonds prior to maturity and time to time ranking on a
line of Burnett Avenue to a 1965, this City did issue also to enable said City to parity therewith under the
point 108.6 feet northerly $440,000 of Parking Lot refinance said bonds at a conditions and restrictions set
from the intersection of 'Revenue Bonds, dated Sep- lower interest rate, it is ad- forth in said ordinance, are
the west line of Burnett tember 1, 1W5, of which vantageous to the City to payable as to both principal
Avenue produced and the original issue there remains reserve the right and option to and interest solely and only
southerly line of this outstanding and unpaid repay and redeem bonds out of future net revenues
Track No. 1 and 1.3 feet $370,000 face value, payable numbered 15 to 20, inclusive, derived from the operation of
southerly from the 50 feet $15,000 on the First day of maturing on and after the municipal parking lots of
clearance point northerly January in 1972 and 1973, January 1, 1982, prior to the City of Ames, Iowa, and
from the center line of the $20,000 on the First day of maturity in whole, or from from the street-line parking
present West Bound January in each of the years time to time in part in inverse meters,a sufficient portion of
Main; thence easterly 127 1974 through 1979, inclusive, order of maturity, (less than which are required by said
feet more or less on a $25,000 on the First day of all of one maturity to be ordinance to be deposited in a
curve left with a radius of January in each of the years selected by lot)on any interest special fund designated as the
4247.18 feet parallel to and 1980 to 1983, inclusive, and payment date on or after "Parking Lot Revenue Bond
northerly 50 feet $30,000 on the First day of January 1, 1981. In the event Sinking Fund" and which are
clearance from the center January in each of the years any of said bonds are to be so pledged for that purpose.This
line of the Railroad 1984 through 1987, inclusive, prepaid and redeemed, as bond is not a general
original main line, said said Ordinance No. 2092 aforesaid, notice thereof• obligation of said City nor
curve crossing the east having provided for the identifying the bond or bonds payable in any manner by
line of Burnett Avenue at issuance of additional bonds to be redeemed shall be given taxation, nor shall the City of
a point 116.6 feet northerly ranking on a parity therewith by publication at least once Ames be in any manner liable
from the intersection of to the extent of $100,000 to not less than thirty (30) days by reason of said special fund
beir.g insufficient for the office as of the first day of separate and special fund and numuumnunomnninnunnnnnnnunnnnnmununuunumnumuum
payment of this bond and the July, 1971. shall be used and disbursed by Asses Daily Tribune
interest hereon. the City Council to the extent 6
Said City of Ames hereby Treasurer of the necessary each month in Tues., Sept. 14, 1971
reserves the right and option City of Ames, Iowa" maintaining and operating nuuunnnnnnnnunninunwnnnnnnnnnnnnnnunuuuuwnuwnimm
to prepay and redeem bonds of There shall also be printed said on-street parking meters pay the entire amount of
this issue number 15 to 20, on the back of each bond and necessary traffic control the interest that will have
inclusive, maturing on and provisions in the following expenses and may also be so accrued at the time of
after January 1, 1982, prior to form for evidencing its used and disbursed, to the such retirement.
maturity in whole, or from registration as to principal: extent that funds are not Such payments into said
time to time in part in inverse NAME OF REGISTERED available from other sources, Sinking Fund shall be made in
order of maturity (less than OWNER for the purchase of additional monthly installments on the
all of one maturity to be on-street parking meters; first day of each month, ex-
selected by lot)on any interest provided, that the aggregate cept that when the first day of
payment date on or after of all such operation, main- any month shall be a
January 1, 1981. In the event tenance and traffic control Sunday or a legal holiday then
any of said bonds are called expense and cost of additional such payments shall be made
for redemption prior to on-street parking meters shall on the next succeeding secular
maturity as aforesaid, notice DATE OF not in any one month exceed day
of such redemption, iden- REGISTRATION twenty-five per cent of the In the event the balance of
tifying the bond or bonds to be income and revenues from unallocated net off-street
redeemed, shall be given by such on-street parking meters parking revenues and net on-
publication at least once not of said system during that street parking revenues are
less than thirty(30)days prior month,and the balance of said inadequate to make any one or
to such redemption date in a income and revenues from the more required monthly
newspaper of general cir- on-street parking meters shall payments into the Sinking
culation in the State of Iowa. SIGNATURE OF be classified as "net on-street Fund the deficiency shall be
This revenue bond and the CITY TREASURER parking revenues" and are made up and paid as aforesaid
appurtenant interest coupons hereinafter referred to as from the first available
are payable to bearer but this such. revenues thereafter received,
bond may be registered as to Section 7. That the and same shall be in addition
principal only in the name of provisions, covenants, un- to payments otherwise
the holder on the books of said dertakings and stipulations provded to be made in such
City of Ames in the office of its Section 3.That said revenue for the operation of the'system succeeding month or months.
City Treasurer, and such bonds shall be registerable as of public motor vehicle Said Sinking Fund shall be
registration will be evidenced to principal in accordance parking lots and on-street used solely and only and is
by notation hereon to that with the provisions for parking meters of said City hereby pledged for the pur-
effect by said City Treasurer registration hereinabove and for the collection, ap- pose of paying principal of and
as Registrar after which no provided, and the City plication and use of the interest on the Parking Lot
transfer hereof shall be valid Treasurer is hereby appointed revenues and income from Revenue Bonds dated Sep-
unless made on said books and and designated Registrar for such operation,as set forth in tember 1, 1965, and the bonds
similarly noted hereon, but such purpose. No charge shall the ordinance adopted by the herein authorized and anv
such registration may be be made to any holder of said City Council of saia Ulty on additional parity bonds
discharged by registered bonds for the privilege of September 7, 1965, and pur- hereinafter permitted to be
transfer to bearer after which registration or transfer suant to which the outstanding issued.
this revenue bond shall be thereof. Parking Lot Revenue Bonds of Section S. The provisions
again payable to bearer.Each Section 4. That said bonds said City dated September 1, made in and by Section 7 of the
successive holder of this shall be signed by the Mayor 1965, were issued, shall inure ordinance adopted by the City
revenue bond during such and attested by the City Clerk, and appertain to the bonds Council of said City on Sep-
time as it is payable to bearer, with the seal of the City af- hereby authorized to the same tember 7, 1965, and pursuant
and each successive holder of fixed,and the interest coupons extent and with like force and to which the outstanding
the interest coupons hereto attached thereto shall be effect as if herein set out in Parking Lot Revenue Bonds of
attached, is conclusively executed by said City Clerk by full, except only insofar as said City were issued,
presumed to forego and his facsimile signature, and same may be consistent with whereby there has been
renounce his and their equities said official, by the execution this ordinance.The provisions created and is to be main-
in favor of subsequent holders of said bonds shall adopt as heretofore made for the tained a "Bond Reserve
for value without notice, and and for his own proper creation and maintenance of Fund" are all hereby ratified
to agree that this signature his facsimile the "Parking Lot Revenue and confirmed and all such
revenue bond while pay- signature appearing on such Bond Sinking Fund" '
coupons. When and as (hereinafter sometimes Provisions shall insure and
able to bearer, and cou ns, P constitute the security for the
each of the interest coupons, executed, said bonds shall be referred to as the "Sinking payment of the interest on and
hereunto appertaining, may delivered to the City Fund") and for the monthly principal of the Parking Lot
be negotiated by delivery by Treasurer to be by him duly payment into said fund from
any person having possession recorded as to issuance the aggregate fo the net off- Revenue Bonds, Series thereof howsoever such and said treasurer. street parking revenues and hereby authorized and bonds
ranking on a parity
possession may have been
shall sign the certificate the net on-street parking therewith, and as provided in
acquired, and that any holder, hereinbefore set out in Section revenues of such portion
who shall have taken this 2 and endorsed up on the back thereof as will be sufficient to said ordinance, there shall be
revenue bond or any of the of each of said bonds and Pay the interest upon and set apart and paid into said
of the outstanding Bond Reserve Fund each
interest coupons from any
deliver said bonds to the principal g month commencing the first
person for value and without purchaser thereof upon Parking Lot Revenue Bonds, day of the month following the
notice thereby has acquired payment of the purchase dated September 1, 1965, are delivery of the bonds
absolute title thereto free price,same to be not less than all hereby ratified and con- authorized by this ordinance,
from any defenses en- par and accrued interest. firmed, and all such from the balance of the net off-
forceable against any prior Section 5. The proceeds of Provisions shall insure and
holder and free from all P street parking revenues and
the bonds hereby authorized constitute the security for the the net on-street parking
equities and claims of shall be deposited in a Con- payment of the interest on and revenues remaining after first
ownership of any such prior struction Fund, which is the principal of the. Parking making the required
holder. For a more complete hereby ordered created, and Lot Revenue Bonds, Series into the "Parkin v®
statement of the basis upon shall be applied in paying the 1971, hereby authorized as payments g O
which this revenue bond has pp P Y g may from time to time be Lot Revenue Bond Sinking 0
cost of completing the Y Fund the sum of$750 on the �
been issued and additional acquisition of the additional outstanding; providing, first day of each month in each '
revenue bonds ranking on a parking lots as hereinbefore however, that the amounts to year until such time as all of
parity therewith may be described and expenses in- be annually set aside and paid the bonds herein authorized
into said Sinking Fund issued and outstanding, and a cident thereto, provided that and bonds ranking on a parity
description of the source of all sums received as accrued equal monthly installments therewith have been paid in
payment of all such revenue interest in the issuance and shall be sufficient to pay the full as to both principal and a
bonds, and the circumstances sale of the bonds shall be paid interest and principal due in interest or funds sufficient
under which the provisions of ,Into the Parking Lot Revenue each year, not only of the therefor have been set aside '
the aforesaid ordinance may Bond Sinking Fund bonds issued and outstanding and pledged for that purpose.
be modified and a statement hereinafter created. Any under the provisions of said All moneys credited to said
'of the rights, duties and balance of the proceeds of said ordinance adopted September Reserve Fund shall be used
obligations of said City o bonds remaining after the 7, 1965,but also the interest on for the payment of principal of
Ames and the rights of the completion of the construction and the principal of the and interest on the bond
holders of the revenue bonds , of said additional parking Parking Lot Revenue Bonds, authorized to be issued under
reference is made to said or- facilities shall be deposited in Series 1971,issued pursuant to the terms of this ordinance
dinance. the Renewal and Im- this ordinance as from time to
And it is herebycertified rovement Fund. time outstanding. In addition and bonds ranking on a parity
� P therewith whenever for any
recited and declared, that all Section 6. That upon the to the payments required to be reason the funds on deposit in
acts, conditions and things issuance of the bonds hereby made into said Sinking Fund the "Parking Lot Revenue
required to exist, happen and authorized and thereafter so under provisions of Section 6 Bond Sinking Fund" are in-
be performed precedent to long as any of said bonds or of said ordinance adopted sufficient to pay such prin-
and in the issuance of this the previously issued and September 7, 1965, and in cipal and interest when due,
bond and the series of which it outstanding bonds in the order to pay maturing in- and shall also be used to make
is a part, have existed, have remaining principal amount stallments of principal of and up any deficiencies in the
happened and have been of$370,000 dated the First day interest on said Parking Lot amounts required to be set
performed in due time, form of September, 1965, or any Revenue Bonds, Series 1971,it aside each, month into said
and manner, as required by additional bonds ranking on a is hereby determined that Sinking Fund; provided,
law, and that the issuance of additional payments shall be
parity therewith are out- de each month into said however, that all amounts at
ma
this bond does not exceed or standing the system of public any time credited to said
violate any constitutional or motor vehicle parking lots and Sinking Fund from the Reserve Fund in excess of the
'statutory limitation or on-street parking meters of aggregate of the net off-street maximum amount of prin-
provision. said City , together with all Parking revenues and the net cipal and interest falling due
IN WITNESS WHEREOF, future extensions and ad- on-street parking revenues in any succeeding fiscal year
said City of Ames, by its City ditions thereto,and consisting and that the minimum amount for both principal of and in-
Council has caused this bond to be so set aside into said
of both on-street parking Sinking Fund during the terest on the then outstanding
to be signed by its Mayor and meters and off-street parking g g bonds issued pursuant to this
attested by its City Clerk,with lots shall be operated as a Periods of twelve months ordinance and bonds ranking
-- - _ preceding January 1 of each
the seal of said City affixea, revenue producing ui,- - on a parity therewith shall be
and the coupons hereto at- dertaking. The rates charged year for said additional bonds used to purchase any of said
tached to be executed with the by said City for the use of and shall be not less than as bonds then outstanding at not
facsimile signature of the said services furnished by said follows: exceeding the then next aD-
City Clerk, which official by parking lots and on-street A sum equal to one- plicable redemption price or
the execution of this bond, parking meters shall be such tenth (loth) of the shall be used to call and
does adopt as and for his own reasonable rates as will be principal of all bonds redeem such bonds as may be
proper signature his facsimile sufficient to pay for the maturing on January 1 then subject to redemption
signature appearing on said operation and maintenance next succeeding plus a prior to maturity.
coupons this first day of July, thereof and to create and sum equal to one-fifth Section 9. The provisions
1971. maintain the Parking Lot (y5th) of the interest made in and by Section 8 of the
Revenue Bond Sinking Fund becoming due on the next ordinance adopted by the City
Mayor and the Bond Reserve Fund in succeeding interest Council of said City on Sep-
Attest: the amounts as hereinafter payment date on all of the tember 7, 1965, and pursuant
provided. From and after the then outstanding bonds to which the outstand-
City Clerk issuance of the bonds hereby issued pursuant to this ing Parking Lot Revenue
(Form of Coupon) authorized the income and ordinance and bonds Bonds of said City were
No $_ revenues from the off-street ranking on a parity issued, whereby there has
On ............. 19...., the parking lots of said system, therewith until there has been created and is to be
City of Ames,Iowa,will pay to including rentals from the been accumulated in such maintained a "Renewal and
bearer out of its Parking Lot lease of any property con- fund an amount equal to Improvement Fund" are all
Revenue Bond Sinking Fund stituting a part of the system the full amount of the next hereby ratified and con-
. Dollars shall be set aside into a succeeding principal firmed, and as provided in
($............)at the office of separate and special fund and payment and interest said ordinance there shall be
the City Treasurer, Ames, shall be used and disbursed by payment on said then set apart and paid into such
Iowa, as provided in and for the City Council to the extent outstanding bonds fund each month, com-
interest then due on its necessary each month in maturing in such year; mencing the first day of the
Parking Lot Revenue Bond maintaining and operating provided, however, that month following the delivery
Series 1971 dated July 1, 1971, said off-street parking lots, no further payments of the bonds authorized by this
Numbered ................. and the balance thereof shall need'be made into said ordinance,from the balance of
be classified as "net off-street Sinking Fund whenever the net off-street parking
City Clerk parking revenues" and are and so long as such revenues and net on-street
On the back of each bond hereinafter referred to as amount of the bonds parking revenues remaining'
there shall be printed the such. shall have been retired after first making the
certificate of the City In like manner from and that the amount then held required payments into the
Treasurer in the following after the issuance of said in such fund(including the Sinking Fund and the Bond
form: bonds the income and Bond Reserve Fund Reserve Fund the sum of$750
"The issuance of this revenues from the on-street hereinafter created) is on the first day of each month
bond has been duly and parking meters of said system sufficient to retire all such of each year, or such higher
properly recorded in my shall be set aside into a outstanding bonds and (Continued on page 7)
.:,EGAL. NOTICE also of the amount of thereon which are to be in- dates for all such additional
(Continued from Page Six) expenses
and maintenance corporated in and made a part bonds shall be semiannually
amounts as the City Council expenses for said facilities, of the public motor vehicle on January 1 and July 1 of
may fix from time it time. All respectively,shall be kept and parking system of the City, each year and the principal
moneys credited to said maintained. Said City further but no such facilities may be maturities of such additional
agrees that it will within sixty so withdrawn unless the City bonds shall be on January 1 of
Renewal and Improvement
Fund shall be used or ac- days following the close of Council affirmatively finds the year in which any such
cumulated to pay the cost of each fiscal year of the City that the net revenues to be principal is scheduled to
acquiring additional parking cause an audit to be made of derived from the operation of become due. The additional
the books and accounts per- the remainder of the system bonds (sometimes herein
lots and facilities, to pay tinent to the system by an together with interest during referred to as "permitted" to
architectural or engineering independent certified public the construction of the ad- be issued), the issuance of
expenses, to pay the cost of a countant showing the ditional structure, will be not which is restricted and con-
acquiring additional meters or receipts and disbursements of less than those required to be ditioned by this section, shall
other improvements to the said system with the com- paid into the several separate be understood to mean bonds
system,to create reserves for ments of the auditor con- funds as hereinbefore secured and payable on a
any of the foregoing, to pay cerning whether the books and provided during the period of parity with the bonds herein
rent.on any property which accounts are being kept in construction. specifically authorized, and
may be leased for parking compliance with this or- Said City agrees that it will shall not be deemed to include
purposes as a part of the dinance and in accordance take no action in relation to its other obligations, the security
system or to pay any ex- with recognized accounting public motor vehicle parking and source of payment of
traordinary cost of main- practices. All expenses in- system which would un- which is subordinate and
taining the parking system in curred in making such audits favorably affect the security subject to the priority of the
an efficient operating con- shall be paid as ail expense of of the bonds herein authorized requirements in favor of the
dition, and the moneys on operation and maintenance of or bonds ranking on a parity bonds herein authorized to be
deposit in said Renewal and the system and a copy of each therewith or the prompt issued.
Improvement Fund shall be such audit shall be promptly payment of the principal Section 16. Said City
transferred and credited to mailed to the original pur- thereof and interest thereon, covenants and agrees that so
the Parking Lot Revenue chasers from the City of the but nothing in this ordinance long as any of the bonds herein
Bond Sinking Fund whenever bonds hereby authorized and contained shall be construed authorized are outstanding it
necessary to prevent or to any other bondholder that to prohibit appropriate will not establish other public
remedy a default in the may have requested same in changes in the location of on- motor vehicle parking lots or
payment of the principal of or writing.
interest on the bonds 0_,:,
street parking facilities mace facilities within the City
authorized to be issued under ,cction 13. That said City necessary by street widening, unless such additional parking
the terms of this ordinance or hereby covenants and agrees alterations or closings, nor lots or facilities are included
bonds ranking on a parity with the holder or holders of prohibit substitution or and constitute a part of the
therewith or shall be trans- the bonds herein authorized to changes in the location of on- public motor vehicle parking
ferred to the Bond Reserve be issued,or any of them, that street parking meters in order system as contemplated by
Fund whenever any it will faithfully and punt- to provide essential and this ordinance and are
deficiency may exist in said tually perform all duties with necessary traffic regulation operated on a revenue
reference to said public motor and control. producing Fund. Any balance in excess vehicle parking system P g and self-liquidating
of $100,000 which may be p g Y Section 14. That any holder basis,so that the net revenues
accumulated in said Renewal required by the Constitution of said bonds, or any of the from such additional facilities
and Improvement Fund may and laws of the State of Iowa, coupons,may either at law or will be available for payment
be transferred to the Surplus and this ordinance, including in equity, by suit, action, into the Sinking Fund as
Fund hereinafter created. the making and collecting of mandamus or other herein provided.
Section 10. The provisions reasonable and sufficient proceedings, enforce and The City of Ames agrees
made in and by Section 9 of the rates for services afforded compel performance by said that so long as any of the
ordinance adopted by the City thereby, and will segregate City and its officers and bonds herein authorized are
Council of said City on Sep- the revenues and make ap- agents of all duties imposed or outstanding it will maintain
tember 7, 1965, and pursuant plication thereof into the required by law or this or- insurance for the benefit of
to -,Which the outstanding respective funds, as provided dinance in connection with the the holders of the bonds issued
Parking Lot Revenue Bonds by this ordinance. The City operation of said motor hereunder of a kind and in an
of said City were issued, further covenants and agrees vehicle parking system in- amount which usually would
whereby there has been with the holders of said bonds cluding the making and be carried by private com-
created and is to be main- to maintain in good condition collecting of sufficient rates panies engaged in a similar
tained a "Surplus Fund" are and continuously and ef- and segregation of the type of business, and that it
all hereby ratified and con- ficiently operate said off- revenues and application will carry public liability and
firmed, and as provided in street and on-street parking thereof. property damage insurance in
said ordinance there shall be system and to charge and Section 15. The bonds the operation of the public
set apart and paid into said collect such rates and charges authorized to be issued motor vehicle parking system
"Surplus Fund" all of the net for services rendered thereby hereunder and from time to in amounts not less than those
off-street and net on-street so that the aggregate net time outstanding shall not be recommended from time to
parking revenues remaining revenues therefrom will be entitled to priority one over time by a•consulting engineer
after first making the sufficient at all times to make the other in the application of employed for that purpose.
required payments into the the prescribed payments into the Sinking Fund or the Bond The costs of all the foregoing
Sinking Fund, the Bond the several special funds as Reserve Fund regardless of insurance shall be classified
Reserve Fund and the hereinbefore provided. the time or times of their and paid as an expense of
Renewal and Improvement The City further covenants issuance,it being the intention operation and maintenance.
Fund. All moneys credited to and agrees that so long as any that there shall be no priority Section 17.The provisions of
said Surplus Fund shall be of the bonds authorized to be among the bonds authorized to this ordinance shall constitute
transferred and credited to issued under the terms of this be issued under the provisions a contract between the City of
the Parking Lot Revenue ordinance or bonds ranking on of this ordinance, regardless Ames and the holders of the
Bond Sinking Fund whenever a parity therewith are out- of the fact that they may be bonds herein authorized to be
standing it will not sell, lease, actually issued and delivered issued,and after the issuance
necessary to prevent or loan mortgagei .
remedy a default in the or n any at different times.While there of any of the bonds no change, -�
manner dispose of or en- is no default existing in any of variation or alteration of any
payment of the principal of or
interest on the bonds cumber said public motor the provisions of this or- kind of the provisions of this
vehicle parking system until dinance said City hereby ordinance ma be made in an
authorized to be issued under Y Y
all of said bonds have been
the terms of this ordinance or reserves the right and manner except as hereinafter
bonds rankingon a parity paid in full as to both principal privilege of issuing additional in this section provided until
p y and interest or unless and bonds from time to time such time as all of said bonds
therewith, or shall be trans- until full and sufficient payable from the income and issued hereunder and the
ferred and credited to the provision shall have been revenues of said public motor interest thereon have been
Bond Reserve Fund whenever -made for the
any deficiency may exist in payment vehicle parking system paid in full.
said Bond Reserve Fund, or thereof; provided, however, ranking on a parity with the In the event that it shall
otherwise may transferred the City may dispose of any bonds herein authorized in appear desirable and to the
ot
of the Renewal and Im- property constituting a part of order to (1) refund any advantage of both the City and
piovement Fund or used for ipe municipal parking system revenue bonds issued for the holders of the revenue
any lawful corporate purpose. which is found by resolution of account of the parking system bonds the City may propose
Section 11. All moneys held the City Council to be no or (2) pay the costs of further modifications, alterations and
in the several separate funds longer useful or profitable in additions, extensions or im- amendments of this ordinance
created under the terms of the operation of the system, provements to the system in the following manner; The
this ordinance shall be but the proceeds of any such within said City; provided, City Council shall adopt an
deposited in banks and all sale shall be credited to the that before any such ad- ordinance modifying, altering
such deposits which cause the Renewal and Improvement ditional bonds ranking on a or amending this ordinance,
aggregate deposits of said Fund as an additional credit parity may be so issued for but providing therein that
City in any one bank to be in thereto. Nothing contained in such additions, extensions or said ordinance shall not
excess of the amount insured this ordinance shall be con improvements there shall become effective unless and
by F.D.I.C. shall be con- strued to prevent the, City have been procured and filed until it has had the approval of
tinuously secured by a valid from leasing to others or with the City Clerk a the holders of the revenue
pledge of direct obligations of contracting with others for the statement by a certified public bonds as hereinafter set out.
the United States Government operation of any of the parking accountant not in the regular Immediately upon adoption of
having ed equivalent market system, to the extent per- employ of the City on a said ordinance the City
value, or may be invested in matted law, provided the monthly salary basis reciting Council shall set a time and
direct obligations of the net revenues derived from any the opinion based upon place for and call a meeting of
United States Government such leases or contracts, in necessary investigations that the holders of the revenue
combination with all other net the aggregate net off-street bonds, which place so
having a maturity date or revenues of the system, are parking revenues and net on- designated shall be in the City
being subject to redemption at found by the City Council to be street parking revenues as of Ames, Iowa. Notice of the
the option of the holder not not less than those required to defined in this ordinance, time and place of the meeting
more than five years from the be paid into the various funds adjusted to reflect income in and in general terms the
date of the investment therein. as hereinbefore provided. accordance with rates in ef- matters to be submitted
Section 12. While the bonds fect on the date of said
authorized hereunder, or any While the bonds authorized thereat shall be given to the
statement, for the fiscal year holders ll the revenue bonds
of them, remain outstanding hereunder, or any of them,
and ,unpaid the rates for all remain outstanding and un- immediately preceding the in the following manner:
services ' rendered by said paid no free service shall be bonds
of such additional (a)Not less than fifteen
public motor vehicle parking afforded by said public motor bonds was equal maximum at least mount days prior to the date set
systfor the
a copy of
ands stshall be taking intoasonable vehicle parking account prow ded that he Cit Cou cil cat willhyecomearfo due an anyrin- the notice shall be mailed
just, g y calendar year for both prin-
and-consideration the cost of may, by resolution, authorize to each of the holders of
maintaining and operating the the use of a designated portion then and interest outstanding g the bonds and the revenue bonds registered
then
same and one hundred fifty of the parking facilities as to principal at the
per cent of the amounts without charge, provided: (1) bonds then proposed to be address appearing on the
issued in any fiscal year prior
required annually for the that the Council must first to the longest maturity of any registration books and
retirement of all bonds and the affirmatively determine that of the then outstanding bonds. also to the original pur-
accruing interest on all such. such use will not cause the Bonds issued to refund any chaser or purchasers of
bonds as may be outstanding aggregate net revenues then of the bonds hereby authorized the revenue bonds;
under the provisions of this to be derived from the balance bonds (b) Notice of such
orons ranking on a parity ordinance and bonds ranking of the system to be less than meeting shall also be
on a parity therewith, and 150%of the amounts required herewith shall not be subject published in at least two
e
there shall be charged such to be paid into the Parking Lot More set forth in this section to the restrictions herein- issues of a newspaper of
rates and amounts as shall be Revenue Bond Sinking Fund general circulation
adequate to meet the during the then next suc- provided the bonds being published in he City of
requirements of this and the ceeding fiscal year, and (2) if refunded mature within three Ames, Iowa, he first of
preceding sections hereof. the facilities to be operated months of the date of such each such publications to
Said City agrees that so long without charge produced over refunding and no other funds be made not less than
as any of the bonds hereby 15 Y of the gross revenues of are available to pay such fifteen (15) days prior to
authorized remain out- the entire system in the then maturing bonds,but otherwise the date set for the
standing it will keep proper last preceding fiscal year, the any refunding bonds ranking meeting and the second of
books of record and account, finding by the City Council on a parity shall only be issued such publications to be
separate from all other must be predicated upon and subject to said restrictions made not less than seven
municipal records and ac- supported by a certificate and imum principal and in-in computing the (7)days nor more than ten
max
counts,showing complete and executed by a reputable in- maxi terest due in any year prin- (10)days prior to the date
correct entries of all tran- dependent consulting engineer set for such meeting.
sactions relating to said public employed for the purpose of bean and interest on the bonds At such meeting there shall
motor vehicle parking system, examining the books and being refunded shall be ex-
p g y g eluded and principal and be submitted to the holders of
and that the holders of any of records pertinent to the interest on the refunding he revenue,bonds for their
said bonds shall have the right system and of certifying to the bonds shall be utilized. approval the ordinance
at all reasonable times to amount of revenues which will theretofore adopted proposing
inspect the system and all be derived from the balance of For the purpose of this the modification,alteration or
records, accounts and data of the system. Any of the off- ordinance, the fiscal year amendment.
the City relating thereto. A street parking lots may be shall be the calendar year, All holders of revenue bonds
separate accounting of the withdrawn from use at any and interest and principal due for account of the public motor
amount of income and time for the purpose of on January 1 shall be con- vehicle parking system of the
revenues from on-street erecting multiple level sidered obligations of the City outstanding at the time of
parking facilities and the off- parking structures, garages immediately preceding fiscal such meeting and secured by
street parking facilities, and or other parking facilities year. The interest payment the Sinking Fund hereinbefore
created,shall be entitled to Council of the City of Ames,
vote thereat and attendance at Iowa.
such meeting may be in Amps oath Tribune 7
Tues., Sept. 14, 1971 Stuart N. Smith
person or by proxy. Each Mayor
person seeking to attend or Attest:
vote at any such meeting amount of the revenue bonds Louise Whitcome
must, if required, produce entitled to be represented at City Clerk
such proof of ownership of such meeting; provided, (SEAL)
revenue bonds or of personal however, that no such Recorded in the records of
identity as shall be modifications, alterations or said City this 9th day of
satisfactory to the inspectors amendments shall be made September, 1971.
of votes. Each proxy shall be which will (a) permit an Louise Whitcome,
signed by the holder of extension of the time of City Clerk
revenue bonds or by his duly payment at maturity of the published in The Ames
authorized attorney, shall principal of or payment of the Daily Tribune, September 14,
identify the revenue bonds interest on any revenue bond, 1971.
represented thereby,and shall or a reduction in the amount of
be witnessed, and its gen- principal or the rate of in-
uineness, if questioned, shall terest thereon without written
be established to the consent of the holder thereof,
satisfaction of the inspectors or (b) reduce the percentages
of votes. The holders of of holders of revenue bonds
revenue bonds and the holders required by the provisions of
-of proxies present shall, by a this section for the taking of
majority vote, irrespective of any action under this section.
the amount of revenue bonds A record of the proceedings
represented by them, select of each such meeting
two persons from those prepared and certified by the
prosent to act as inspectors of Secretary of the meeting and
votes, who shall count all having attached thereto an
votes cast atsuch meeting and original counterpart of the
who shall make and file with report of the inspectors of
the Secretary of the meeting votes and affidavits of mailing
their verified written report in and publication of the notice of
duplicate of all such votes so the meeting shall be filed with
cast at said meeting. the City Clerk, and thereupon
The holders (or persons without further action the
entitled to vote the same) of proposed modifications,
not less than seventy-five per alterations and amendments,
cent in principal amount of the as aforesaid, shall become
revenue bonds entitled to be effective, but otherwise shall
voted at any such meeting be null and void.
must be present at such Section 18. If any section,
meeting in person or by proxy paragraph, clause or
in order to constitute a provision of this ordinance
quorum for the transaction of shall be held invalid the in-
business, less than a quorum, validity of such section,
however, having power to paragraph, clause or
adjourn. provision,shall not affect any
Any such modifications, of the remaining provision of
alterations or amendments of this ordinance.
this ordinance,or of any rights Section 19. All ordinances,
and obligations of the City, or resolutions and orders, or
of the holders of the revenue parts thereof in conflict with
bonds in any particular, may the provisions of this or-
be approved at such meeting dinance are, to the extent of
or at a due adjournment such conflict, hereby
thereof and held in ac- repealed.
cordance with the provisions Section 20. That this, or-
of this section, but only by a dinance shall be in full force
resolution duly adopted by the and effect immediately upon
affirmative vote, in person or its adoption, approval and
by proxy, of the holders (or publication as provided by
persons entitled to vote the law.
awe) of sixty per cent or Adopted this 7th day of
%we in aggregate principal September, 1971, by the City