HomeMy WebLinkAbout~Master - Set date of sale of G.O. Bonds, Series 2014, in an amount not to exceed $9,985,000 Ames419370-54/Auth POS/SetSale
RESOLUTION NO. 14-423
Setting date for sale of General Obligation Corporate Purpose Bonds, Series 2014,
and authorizing the use of a preliminary official statement in connection with the
sale of the Bonds
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, has
heretofore proposed to enter into a General Obligation Loan Agreement (the "Loan
Agreement"), 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, bridge and solid waste
disposal facilities, and the cost of flood mitigation and remediation, and has published notice of
the proposed action and has held a hearing thereon; and
WHEREAS, the City proposes to offer for sale its General Obligation Corporate Purpose
Bonds, Series 2014, in the principal amount of$9,985,000 (the "Bonds"); and
WHEREAS, a Preliminary Official Statement (the "Preliminary Official Statement") has
been prepared to facilitate the sale of the Bonds 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.;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 26th day of August, 2014, at 10 o'clock a.m. is hereby set as the
deadline for submitting bids for the sale of the Bonds, and the City Council will meet on the
same date to review the bids received and to take action to award 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, when adopted, the resolution authorizing 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 hereby
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.
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-54/Auth POS/SetSale
Section 4. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 12, 2014.
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA