HomeMy WebLinkAbout~Master - Setting date of Public Hearing for G.O. Bonds in the amount of $13,150,000 Ames419370-46/1"%:GO LA
RESOLUTION NO. I2-066
Resolution to fix a date for a public hearing on a loan agreement in a principal
amount not to exceed $13,150,000
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to
enter into a General Obligation Corporate Purpose Loan Agreement(the "Loan Agreement") in a
principal amount not to exceed $13,150,000 pursuant to the provisions of Section 384.24A of the
Code of Iowa for the purpose of paying the cost, to that extent, of constructing improvements to
streets, water and sanitary sewer lines; carrying out flood mitigation projects; rehabilitating city
parks; and replacing a city park bicycle/pedestrian bridge that was damaged by flooding, and it is
necessary to fix a date of meeting of the City Council at which it is proposed to take action to
enter into the Loan Agreement and to give notice thereof as required by such law;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The City Council shall meet on the 61h day of March, 2012, at the City
Hall Council Chambers, Ames, Iowa, at seven o'clock p.m., at which time and place a hearing
will be held and proceedings will be instituted and action taken to enter into the Loan
Agreement,
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the Loan Agreement 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 date of said meeting, in a legal newspaper which has a general circulation in
the City. The notice shall be in substantially the following form:
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Ames419370-46/1"'/2 GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $13,150,000
(GENERAL OBLIGATION)
The City Council of the City of Ames, Iowa, will meet on the 6`1' day of March, 2012, at
the City Hall Council Chambers, Ames, Iowa, at seven o'clock p.m., for the purpose of holding a
hearing and taking action to enter into a loan agreement (the "Loan Agreement") in a principal
amount not to exceed $13,150,000 for the purpose of paying the cost, to that extent, of
constructing improvements to streets, water and sanitary sewer lines; carrying out flood
mitigation projects; rehabilitating city parks; and replacing a city park bicycle/pedestrian bridge
that was damaged by flooding.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 384.24A of the Code of Iowa and will constitute a general obligation of the City.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Loan Agreement. After receiving objections, the City may determine to enter into
the Loan Agreement, 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 of the City of Ames, Iowa.
Diane Voss
City Clerk
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Ames419370-46/ 1"'/a GO LA
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved February 28,2012,
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA