HomeMy WebLinkAbout~Master - Set date of public hearing on G.O. Loan Agreement in an amount not to exceed $8,000,000 Ames419370-581SetHmg2017A GO LA
RESOLUTION NO. 17 050
Resolution to fix a date for a public hearing on a loan agreement in a principal
amount not to exceed $8,000,000
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 $8,000,000, 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, sanitary and storm sewers, bridges, and related improvements; 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 7th day of March, 2017, 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:
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IO WA
Ames419370-58/SetHrng20I7A GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A
PRINCIPAL AMOUNT NOT TO EXCEED $8,000,000
(GENERAL OBLIGATION CORPORATE PURPOSE)
The City Council of the City of Ames, Iowa, will meet on the 7th day of March, 2017, 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 $8,000,000 for the purpose of paying the cost,
to that extent, of constructing improvements to streets, sanitary and storm sewers, bridges, and
related improvements.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 3 84.24A 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
DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-58/SetHrng20I7A 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 14, 2017.
C
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames*19370 q)-8/SetHmg2017A GO LA
I
STATE OF IOWA
COUNTY OF STORY SS:
CITY OF AmFs
1, the undersigned, City Clerk of the City of Ames, do hereby certify that attached hereto
is a true and correct copy of the proceedings of the City Council relating to fixing a date for a
hearing on the City Council's proposal to take action in connection with a loan agreement, as
referred to therein.
WITNESS MY HAND this 14`h day of February, 2017.
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IO WA