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Home My WebLink About~Master - Issuance of G.O. Bonds, Series 2003 t Ames/419370-New/1'1/2 NI Please Ret-- MINUTES TO SET DATE FOR HEARING ON DORSEY &V ISSUANCE OF GENERAL OBLIGATION ATTORNEYS CORPORATE PURPOSE BONDS 801 Grand, Des Moines,€cv. Ames, Iowa June 24, 2003 The Council of the City of Ames, Iowa, met on June 24, 2003, at seven o'clock p m., at the Council Chambers, City Hall, in the City. The Mayor presided and the roll was called showing the following Council Members present and absent: Present: Cross, CoodhuP, MaHayni Vegge, Wirt Absent: Hoffman Council Member Mahayni introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member Wirth ; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of said resolution, and the roll being called,the following named Council Members voted: Ayes: Cross, Goodhue, Mahayni Vegge, Wirth Nays: None Whereupon, the Mayor declared the said resolution duly adopted, as hereinafter set out. At the conclusion of the meeting, and upon motion ote,the Co 1 adjourned. Mayor Attest: JA City Clerk -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/1''/z NI RESOLUTION NO. 03-238 Fixing a date of meeting at which it is proposed to take action for the issuance of not to exceed$5,130,000 General Obligation Corporate Purpose Bonds WHEREAS, the City of Ames, Iowa (the "City"), proposes to contract indebtedness and issue not to exceed $5,130,000 General Obligation Corporate Purpose Bonds pursuant to the provisions of Division III of Chapter 384 of the Code of Iowa for the purpose of paying the cost, to that extent, of constructing various street and storm sewer improvements, and it is necessary to fix a date of meeting of the Council at which it is proposed to take action for the issuance of the Bonds and to give notice thereof as required by such law; NOW, THEREFORE, It Is Resolved by the Council of the City of Ames, Iowa, as follows: Section 1. This Council shall meet on the 22°a day of July, 2003, at the Council Chambers, City Hall in the City, at seven o'clock _p .m., at which time and place proceedings will be instituted and action taken for the issuance of the Bonds. Section 2. The City Clerk is hereby directed to give notice of the proposed action for the issuance of the Bonds setting forth the amount and purpose thereof, the time when and place where the said meeting will be held, by publication at least once, and not less than 4 nor more than 20 days before the meeting, in a legal newspaper published at least once weekly, and of general circulation in the City. The notice shall be in substantially the following form: -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA y Ames/419370-New/1 a'/z NI NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS FOR THE ISSUANCE OF NOT TO EXCEED $5,130,000 GENERAL OBLIGATION CORPORATE PURPOSE BONDS The City Council of the City of Ames, Iowa, will meet on the 22nd day of July, 2003, at the Council Chambers, City Hall, in the City, at seven o'clock p.m., for the purpose of instituting proceedings and taking action for the issuance of not to exceed $5,130,000 General Obligation Corporate Purpose Bonds for the purpose of paying the cost, to that extent, of constructing various street and storm sewer improvements. The Bonds, when issued, will constitute general obligations of the City, payable from taxes levied upon all taxable property in the City. At such time and place the Council shall receive oral or written objections from any resident or property owner of the City. After receiving objections, the City may determine to issue the Bonds, in which case, the decision will be final unless appealed to the District Court within fifteen(15) days thereafter. By order of the City Council and pursuant to Section 384.25 of the Code of Iowa. Diane R. Voss City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/l"'/z NI Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved June 24,2003. Mayor Attest: City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/l"1/z NI STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, Clerk of the aforementioned City, do hereby certify that attached hereto is a true and correct copy of the proceedings of the Council of the City relating to the fixing of a date for the initiation of the issuance of not to exceed $5,130,000 General Obligation Corporate Purpose Bonds. WITNESS MY HAND and the seal of the City hereto affixed this 24th day of June , 2003. City Clerk (Seal) 0 -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/1"'/:NI STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned City Clerk, do hereby certify that the aforementioned City is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that such City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits 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 the City as indicated: Ted Tedesco ,Mayor Steven L. Schainker , Manager Duane Pitcher , Finance Officer Diane R. Voss , Clerk Sherry M. Meier , Treasurer Russ Cross , Council Member Steve Goodhue . Council Member Judie Hoffman , Council Member Riad Mahayni , Council Member Daryle Ve ge , Council Member Sharon Wirth , Council Member And I do further certify that the City has provided for the office of Treasurer, and the Council has selected the Treasurer aforementioned. WITNESS MY HAND and the seal of the City hereto affixed this 24th day of .r„nP , 2003. Ity Clerk (Seal) -6- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOMES,IOWA Ames/419370-New/1°j/z NI P STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES 1, the undersigned, Clerk of the aforementioned City, do hereby certify that the City currently has outstanding the following General Obligation indebtedness, of every kind and nature (excluding the current issue), urban renewal tax increment revenue obligations and local option sales tax revenue bonds: SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT) $290,000 General Obligation Corporate Purpose Bonds, Series 1994A Dated January 1, 1994 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $290,000 4.10% $2,700,000 General Obligation Corporate Purpose Bonds, Series 1997A Dated June 1, 1997 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $450,000 4.60% 2007 $450,000 4.60% 2005 $450,000 4.60% 2008 $450,000 4.60% 2006 $450,000 4.60% 2009 $450,000 4.60% $2,980,000 General Obligation Corporate Purpose Bonds, Series 1998A Dated June 15, 1998 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $430,000 4.20% 2008 $425,000 4.20% 2005 $425,000 4.20% 2009 $425,000 4.25% 2006 $425,000 4.20% 2010 $425,000 4.25% 2007 $425,000 4.20% -7- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/1''h NI SCHEDULE A (BOND/LOAN AGREEMENT NOTE DEBT)—CONT'D. $615,000 General Obligation Refunding Bonds, Series 1998B Dated December 1, 1998 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $615,000 3.70% $2,885,000 General Obligation Corporate Purpose Bonds, Series 1999 Dated June 1, 1999 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $315,000 4% 2008 $365,000 4.35% 2005 $325,000 4.10% 2009 $380,000 4.375% 2006 $340,000 4.15% 2010 $395,000 4.40% 2007 $350,000 4.25% 2011 $415,000 4.45% $4,695,000 General Obligation Corporate Purpose Bonds, Series 2000 Dated July 1, 2000 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $425,000 4.75% 2009 $545,000 5.05% 2005 $445,000 4.80% 2010 $570,000 5.10% 2006 $465,000 4.85% 2011 $605,000 5.10% 2007 $490,000 4.95% 2012 $635,000 5.15% 2008 $515,000 5% $8,550,000 General Obligation Corporate Purpose Bonds, Series 2001A Dated August 1, 2001 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $770,000 4% 2009 $870,000 4.20% 2005 $795,000 4% 2010 $875,000 4.30% 2006 $820,000 4% 2011 $900,000 4.40% 2007 $835,000 4% 2012 $905,000 4.60% 2008 $835,000 4.10% 2013 $945,000 4.70% -8- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA 'Ames/419370-New/1 NI SCHEDULE A(BOND/LOAN AGREEMENT NOTE DEBT)—CONT'D. $3,340,000 General Obligation Fire Station and Refunding Bonds, Series 2001B Dated December 1, 2001 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $895,000 3.00% 2009 $110,000 3.70% 2005 $485,000 3.00% 2010 $115,000 3.75% 2006 $465,000 3.10% 2011 $120,000 3.85% 2007 $460,000 3.40% 2012 $120,000 4.00% 2008 $445,000 3.60% 2013 $125,000 4.10% $3,355,000 General Obligation Corporate Purpose Bonds, Series 2002A Dated May 1, 2002 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $130,000 4.00% 2013 $185,000 4.50% 2005 $135,000 4.00% 2014 $190,000 4.60% 2006 $140,000 4.00% 2015 $200,000 4.70% 2007 $145,000 4.00% 2016 $210,000 4.80% 2008 $150,000 4.00% 2017 $220,000 5.00% 2009 $155,000 4.15% 2018 $230,000 5.00% 2010 $160,000 4.25% 2019 $240,000 5.00% 2011 $170,000 4.25% 2020 $255,000 5.10% 2012 $175,000 4.375% 2021 $265,000 5.125% $5,405,000 General Obligation Corporate Purpose Bonds, Series 2002B Dated October 15, 2002 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $430,000 2.25% 2010 $500,000 3.15% 2005 $435,000 2.50% 2011 $515,000 3.25% 2006 $445,000 2.50% 2012 $535,000 3.30% 2007 $455,000 2.75% 2013 $555,000 3.45% 2008 $470,000 3.00% 2014 $580,000 3.60% 2009 $485,000 3.00% -9- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-New/1°j/:NI s SCHEDULE A(BOND/LOAN AGREEMENT NOTE DEBT)—CONT'D. $6,175,000 General Obligation Refunding Bonds, Series 2002C Dated October 15, 2002 Due Principal Interest Rate Due Principal Interest Rate June 1 Amount Per Annum June 1 Amount Per Annum 2004 $1,300,000 3.00% 2008 $ 450,000 3.50% 2005 $1,265,000 3.00% 2009 $ 435,000 3.50% 2006 $1,240,000 3.50% 2010 $ 425,000 3.50% 2007 $1,060,000 3.50% (Please list here or attach a separate maturity schedule for any other outstanding issues of general obligation bonds and/or loan agreement notes.) -10- DORSEY&WHUNEY LLP,ATTORNEYS,DES MOMES,IOWA Ames/419370-New/1"Vz NI SCHEDULE B (OTHER GENERAL OBLIGATIONS) Type of General Obligation Amount (Here list any other obligations of the City which extend beyond the end of the current fiscal year, such as long-term leases, installment sales contracts, etc. If there are none, please insert the word "none". SCHEDULE C (URBAN RENEWAL TAX INCREMENT REVENUE OBLIGATIONS) Principal Amount Name of Issue Outstanding Date (Please list here or attach a separate maturity schedule for any outstanding urban renewal tax increment revenue obligations.) SCHEDULE D (LOCAL OPTION SALES TAX REVENUE BONDS) Date of Maturity Issue Amount Date (List annual principal payments) (Please list here or attach a separate maturity schedule for any outstanding local option sales tax revenue obligations.) WITNESS MY HAND and the seal of the City hereto affixed this o�`� day of , 2003. City Clerk (Seal) -11- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA