HomeMy WebLinkAbout~Master - G.O. Corporate Purpose Bonds, Series 2011B • Ames419370AVAuth POS&Set Sale
RESOLUTION NO. 11-443
Resolution authorizing the use of a preliminary official statement in connection
with the issuance of General Obligation Corporate Purpose Bonds and setting the
date for the sale of Bonds
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, has
heretofore proposed to enter into a General Obligation Corporate Purpose Loan Agreement (the
"Loan Agreement") in a principal amount not to exceed $6,950,000 pursuant to the provisions of
Section 384.24A of the Code of Iowa for the purpose of constructing street improvements and
making improvements to the City Hall, and has published notices of the proposed action and has
held hearings thereon on February 22, 2011; and
WHEREAS, a Preliminary Official Statement (the "Preliminary Official Statement") has
been prepared to facilitate the sale of$6,675,000 General Obligation Corporate Purpose Bonds,
Series 2011B (the "Bonds") in evidence of the obligation of the City under the Loan Agreement,
and it is now necessary to make provision for the approval of the Preliminary Official Statement
and to authorize its use by Public Financial Management, Inc.; and
WHEREAS, it is also necessary at this time to set a date for the sale of the Bonds;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 251h day of October, 2011, at 11:00 o'clock a.m., at the City Clerk's
Office, City Hall, Ames, Iowa, is hereby fixed as the time and place for receiving and canvassing
bids for the purchase of the Bonds, and this Council shall meet on that date at 7:00 o'clock p.m.,
for the purpose of considering such bids received and passing a resolution providing for the sale
of the Bonds.
Section 2. The use by Public Financial Management, Inc. of the Preliminary Official
Statement relating to the Bonds, in substantially the form as has been presented to and
considered by the City Council, is hereby approved, and Public Financial Management, Inc. is
hereby authorized to prepare and use a final Official Statement for the Bonds substantially in the
form of the Preliminary Official Statement, but with such changes therein as are required to
conform the same to the terms of the Bonds and the resolution, when adopted, providing for the
issuance of the Bonds, and the City Clerk is hereby authorized and directed to execute a final
Official Statement for the Bonds, if requested. The Preliminary Official Statement as of its date
is deemed final by the City within the meaning of Rule 15(c)(2)-12 of the Securities and
Exchange Commission.
Section 3. Pursuant to Section 75.14 of the Code of Iowa, the City Council hereb,�'
authorizes the use of electronic bidding procedures for the sale of the Bonds through PARITY"',
and hereby finds and determines that the PARITY`' competitive bidding system will provide
reasonable security and maintain the integrity of the competitive bidding process and will
facilitate the delivery of bids by interested parties under the circumstances of this bond sale.
-2-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
r
Ames419370-44/Auth POS&Set Sale
Section 4. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved September 27, 2011.
ayor
Attes
City Clerk
• • • •
On motion and vote, the meeting adjourned.
/;—4"
cam.
ayor
Att Q,St:
City Clerk
-3-
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA