HomeMy WebLinkAbout~Master - Setting date of public hearing for Issuance of GO Bonds and GO Refunding Bonds in an amount not to exceed $13,225,000 Ames419370-56/SetHrng2016-17 GO LA
RESOLUTION NO. 16-052
Resolution to fix a date for a public hearing on a loan agreement in a principal
amount not to exceed $13,225,000
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to
enter into a General Obligation Corporate Purpose and Refunding Loan Agreement (the "Loan
Agreement") in a principal amount not to exceed $13,225,000, 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
flood mitigation and remediation, and of refunding the outstanding balance of the City's General
Obligation Corporate Purpose Bonds, Series 2008A; 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 1 st day of March, 2016, at the City
Hall Council Chamber, Ames, Iowa, at 6:00 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:
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-56/SetHmg2016-17 GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $13,225,000
(GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING)
The City Council of the City of Ames, Iowa, will meet on the 1 st day of March, 2016, at
the City Hall Council Chamber, 515 Clark Avenue, Ames, Iowa, at 6:00 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 $13,225,000 for the purpose of paying the cost,
to that extent, of constructing street, water main, sanitary and storm sewer, bridge, and related
improvements; of flood mitigation and remediation and of refunding the outstanding balance of
the City's General Obligation Corporate Purpose Bonds, Series 2008A.
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 Cleric
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-56/SetHrng2016-17 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 9, 2016.
1'f" Cam/-
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA