HomeMy WebLinkAbout~Master - Increased amount of debt pertaining to G.O. Bonds, Series 2015 Ames4 1 93 7 0-5 5/20 1 5 Hrng InersdAmt
RESOLUTION NO. 15-449
Resolution authorizing increased amount of Loan Agreement
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")
in a principal amount not to exceed $20,950,000 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 street,
water main, sanitary and storm sewer, bridge, and related improvements; of constructing a new
municipal airport terminal building, of carrying out flood mitigation and remediation, and of
refunding the outstanding balances of the City's General Obligation Corporate Purpose Bonds,
Series 2006A and General Obligation Corporate Purpose Bonds, Series 2007A; and
WHEREAS, it has been determined that the maximum principal amount of the Loan
Agreement should be increased to $21,345,000, and the City has published notice of the
proposed action and has held a hearing thereon;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The Council hereby expresses its intention to enter into the Loan
Agreement, in an amount not to exceed $21,345,000, and to issue bonds at such time as funds are
needed, and the Council hereby declares that this resolution constitutes the additional action
required by Chapter 384 of the Code of Iowa.
Section 2. All resolutions or parts thereof in conflict herewith are hereby repealed to
the extent of such conflict.
Passed and approved July 14, 2015.
L56/. CA4*11144-d
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA