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Home My WebLink About~Master - G.O. Bonds, Series 2006A City Clerk's Office 515 Clark Avenue,P. O. Box 811 Caring People Ames,1A 50010 Quality Programs' Exceptional Service Phone: 515-239-5105 Fax: 515-239-5142 September 13, 2006 Dorsey& Whitney LLP 801 Grand, Suite 3900 Des Moines, Iowa 50309 Attention Robert E. Josten RE: Ames, Iowa $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A Your File No. 419370-34 Dear Bob: Enclosed please find the proceedings from our September 12, 2006, meeting wherein the Council adopted Resolution No. 06-379 providing for the sale and issuance of the above-referenced Bonds. Thank you for your assistance. Sincerely, a�at�a� WCL � Diane R. Voss City Clerk /dry Enclosure Ames/419370-34/2"1/z Sale MINUTES TO SELL $5,285,000 GENERAL OBLIGATION CORPORATE PURPOSE Please Return To: BONDS, SERIES 2006A DORSEY & WHITNEY ATTORNEYS AT I-Al,"I 419370-34 (2"1 % Sale) Ames, Iowa September 12, 2006 The City Council of the City of Ames, Iowa, met on September 12, 2006, at 7:00 o'clock p.m. at the Council Chambers, City Hall, Ames, Iowa. The meeting was called to order by the Mayor, and the roll was called showing the following Council Members present and absent: Present: Goodman, Hamilton, Mahayni, Popken, Rice Absent: Doll This being the time and place fixed by the City Council for the consideration of bids for the purchase of $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A, the Mayor announced that bids had been received and canvassed on behalf of the City at the time and place fixed therefor. Whereupon, such bids were placed on file, and the substance of such bids was noted in the minutes, as follows: Name and Address of Bidder Final Bid (interest cost) (ATTACH BID TABULATION) -1- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Y Ames/419370-34/2°d YZ Sale After due consideration and discussion, Council Member Hamilton introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Goodman . The Mayor put the question upon the adoption of said resolution, and the roll being called, the following Council Members voted: Ayes: Goodman, Hamilton, Mahayni, Popken, Ric.P Nays: None Whereupon, the Mayor declared the resolution duly adopted as hereinafter set out. -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA TABULATION OF BIDS City of Ames, Iowa $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A AWARD: NATCITY INVESTMENTS,INC. RATING: Moody's Investors Service `Aaa' SALE DATE: Tuesday, September 12, 2006 COUPON NET INTEREST COST NAME OF BIDDER RATE YEAR & TRUE INTEREST RATE PRICE NATCITY INVESTMENTS, INC. 4.00% 2007-2018 $1,372,853.78 $5,340,679.55 Cleveland, Ohio Robert W. Baird & Co.,Incorporated. 3.8150% Duncan-Williams, Inc. Ross, Sinclaire& Associates,Inc. • MORGAN KEEGAN & CO.,INC. 4.00% 2007-2018 $1,372,920.18 $5,340,613.15 Memphis,Tennessee 3.8152% HARRIS,N.A. 3.70% 2007-2015 $1,362,929.92 $5,261,459.25 Chicago, Illinois 3.75% 2016 WELLS FARGO BROKERAGE 3.80% 2017 3.8243% SERVICES LLC 3.85% 2018 Minneapolis, Minnesota FTN Financial Capital Markets Isaak Bond Investments,Inc. The Bankers Bank Ruan Securities UMB BANK,n.a. 3.60% 2007-2011 $1,364,229.50 $5,252,233.00 Kansas City, Missouri 3.65% 2012-2013 3.70% 2014-2015 3.8309% 3.75% 2016 3.80% 2017 3.85% 2018 PFM The PFM Group Terrace Place.Suite 214 515 243-2600 2600 Grand Avenue 515 243-6994 fax Public Financial Management,Inc. Des Moines.IA 50312 www.pfm.com PFM Asset Management LLC PFM Advisors $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A City of Ames, Iowa Tuesday, September 12, 2006 Page 2 COUPON NET INTEREST COST NAME OF BIDDER RATE YEAR & TRUE INTEREST RATE PRICE STIFEL NICOLAUS & CO., INC. 4.00% 2007-2018 $1,378,692.37 $5,334,840.96 Minneapolis, Minnesota 3.8341% STEPHENS,INC. 4.00% 2007-2018 $1,379,068.68 $5,334,464.65 Little Rock, Arkansas RBC Capital Markets 3.8353% SunTrust Capital Markets First Trust Portfolios PIPER JAFFRAY& CO 4.00% 2007-2018 $1,379,261.53 $5,334,271.80 Kansas City,Missouri 3.8360% UBS SECURITIES LLC 3.75% 2007-2013 $1,391,139.43 $5,295,781.40 Dallas,Texas 4.00% 2014-2018 UBS Financial Services 3.8834% Citigroup Global Markets Cronin& Co.,Inc. Ames/419370-34/2Id'/z Sale RESOLUTION NO. 06-37� Resolution awarding $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A WHEREAS, pursuant to the provisions of Chapter 384 of the Code of Iowa, the City of Ames, in the County of Story, State of Iowa (hereinafter referred to as the "City") has heretofore proposed to issue General Obligation Corporate Purpose Bonds, Series 2006A, in the principal amount of $5,285,000 (the "Bonds"), for the purpose of paying the cost, to that extent, of constructing various street and storm sewer improvements, and has published notice of the proposed action and has held a hearing thereon; and WHEREAS, pursuant to advertisement of sale, bids for the purchase of the Bonds were received and canvassed on behalf of the City and the substance of such bids noted in the minutes; and WHEREAS, upon final consideration of all bids received for the purchase of the Bonds, the bid of NatCity Tnvestments, Tnr (the "Purchaser"), is the best, such bid proposing the lowest interest cost to the City; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as follows: Section 1. The bid of the Purchaser referred to in the preamble is hereby accepted, and the Bonds are hereby awarded to the Purchaser at the price specified in such bid, together with accrued interest. Section 2. The form of agreement of sale (the "Sale Agreement") of the Bonds to the Purchaser is hereby approved, and the Mayor and City Clerk are hereby authorized to execute the Sale Agreement for and on behalf of the City. Section 3. All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Passed and approved September 12, 2006. Mayor Attest: City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA Ames/419370-34/2°d%Sale Thereupon, it was moved by Council Member Hamilton and seconded by Council Member Goodman that further action with respect to the issuance of the Bonds be deferred until September 26, 2006, at seven o'clock p .m. at the Council Chambers, City Hall, Ames, Iowa. The Mayor put the question on the motion and the roll being called, the following named Council Members voted: Ayes: Goodman, Hamilton, Mahayni ,Poopken, Rice Nays: None Whereupon, the Mayor declared the motion adopted. Mayor Attest: CM4-j�fT � City Clerk -4- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA t Ames/419370-34/2°d V.Sale STATE OF IOWA COUNTY OF STORY SS: CITY OF AMES I, the undersigned, City Clerk of the aforementioned City, do hereby certify that as such City Clerk I have in my possession or have access to the complete corporate records of the City and of its Council and officers and that I have carefully compared the transcript hereto attached with the aforesaid corporate records and that the transcript hereto attached is a true, correct and complete copy of all the corporate records in relation to the adoption of a resolution entitled, "Resolution awarding $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A," and that the 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 with respect thereto. WITNESS MY HAND and the seal of the City hereto affixed this 12th day of September, 2006. cm&V�X City Clerk (Seal) (Attach here a copy of the bid of the successful bidder.) -5- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA PARITY Bid Form Page of 2 �..�I1t;.f)ffe'llll� is E-J ik:[ll:8i I, Overview I i'esuL t I=}:ccl NatCity Investments, Inc. - Cleveland , OH's Bid Ames $5,285,000 General Obligation Corporate Purpose Bonds, Series 2006A For the aggregate principal amount of$5,285,000.00,we will pay you $5,340,679.55, plus accrued interest from the date of issue to the date of delivery.The Bonds are to bear interest at the following rate(s): Maturity Date Amount$ Coupon % 06/01/2007 275M 4.0000 06/01/2008 365M 4.0000 06/01/2009 380M 4.0000 06/01/2010 400M 4.0000 06/01/2011 415M 4.0000 06/01/2012 430M 4.0000 06/01/2013 450M 4.0000 06/01/2014 470M 4.0000 06/01/2015 490M 4.0000 06/01/2016 515M 4.0000 06/01/2017 535M 4.0000 06/01/2018 560M 4.0000 Total Interest Cost: $1,428,533.33 Premium: $55,679.55 Net Interest Cost: $1,372,853.78 TIC: 3.815026 Time Last Bid Received On:09/12/2006 10:57:05 CDST This proposal is made subject to all of the terms and conditions of the Official Bid Form, the Official Notice of Sale, and the Preliminary Official Statement, all of which are made a part hereof_ Bidder: NatCity Investments, Inc., Cleveland , OH Contact: Fred Ruggles Title: Telephone:216-222-9329 Fax: 216-420-9539 Issuer Name: City of Ames Company Name Accepted By: Accepted By: https://www.newissuehome.i-deal.com/Parity/asp/main.asp?frame=content&page=parityBi.. 9/12/2006 09i,/12/2006 12:43 FAX 12164209539 MUNI U/W Q 002 OFFICIAL BID FORM To:City Council Sale Date: September 12,2006 City of Ames,Iowa 11:00 A.M. Central Time RE: $5,285,000 General Obligation Corporate Purpose Bonds,Series 2006A,dated October ],2006. For all or none of the above Bonds, in accordance with the Terns of Offering, we will pay you yC G 7 9 Ss' (not less than$5,248,005)plus accrued interest to date of delivery for fully registered Bonds bearing interest rates and maturing in the stated years as follows: %due 2007 4 0-' %due 2013 %due 2008 q %due 2014 Ll°%' %due 2009 q°D %due 2015 %due 2010 uO° %due 2016 due 2011 Y -° %due 2017 due 2012 Y''f —%due 2018 In making this offer we accept all of the terms and conditions of the Terns of Offering published in the Official Statement dated September 1, 2006. In the event of failure to deliver these Bonds in accordance with the Terms of Offering as printed in the Official Statement and made a part hereof, we reserve the right to withdraw our offer, whereupon the deposit accompanying it will be immediately returned. All blank spaces of this offer are intentional and are not to be construed as an omission. We enclose our Good Faith Deposit in the amount of $52,850, to be held by you pending delivery and payment. Alternatively,we have provided a Financial Surety Bond in accordance with the Terms of Offering. Not as a part of our offer,the above quoted prices being controlling,but only as an aid for the verification of the offer,we have made the following computations: NET INTEREST COST:_$ / 3 7.Z, �53, )8 TRUE INTEREST COST: 2P/50.2 d %_ (Based on dated date of October 1,2006) Account Manager: �- ag �Ar C�'r y -�yvv P 5 •�-rs By: c $t av- Account Members: C�/IrGA,,^ Y/•��/k S AS �il+��iOrRe �f�7 SSOG The foregoing offer is hereby accepted.by and on behalf of the City Council of the City of Ames, Iowa this 121h day of September,2006. Attest: By: Title: Title: ✓ SURE-BID Good Faith Check Submitted