HomeMy WebLinkAbout~Master - Set public hearing date for G.O. Refunding Bonds in an amount not to exceed $4,500,000 Ames419370-58/SetHrng2017 CORfdg LA
RESOLUTION NO. 17-457
Resolution to fix a date for a public hearing on a loan agreement in a principal amount not
to exceed $4,500,000
WHEREAS, pursuant to a resolution adopted October 13, 2009, the City of Ames (the
"City"), in Story County, State of Iowa, authorized the issuance of its General Obligation
Corporate Purpose Bonds, Series 2009B, in the principal amount of $11,165,000 (the "Series
2009B Bonds"); and
WHEREAS, in the resolution authorizing the,issuance of the Series 2009B Bonds, the
City reserved the right to call for redemption prior to maturity any of the Series 2009B Bonds
maturing after June 1, 2017 (the"Callable Series 2009B Bonds"); and
WHEREAS, the City proposes to enter into a General Obligation Refunding Loam
Agreement (the "Loan Agreement") in a principal amount not to exceed $4,500,000, pursuant to
the provisions of Section 384.24A of the Code of Iowa, for the purpose of refunding the Callable
Series 20090B Bonds; 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 8" day of August, 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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Ames419370-55/SetHrng2017 GORfdg LA
NOTICE OF PUBLIC HEARING ONT LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $4,500,000
(GENERAL OBLIGATION REFUNDING)
The City Council of the City of Ames, Iowa, will meet on the 8`h day of August, 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 $4,500,000 for the purpose of refunding the
outstanding balance of the City's General Obligation Corporate Purpose Bonds, Series 2009B.
The Loan Agreement is proposed to be entered into pursuant to authority contained in
Section 38424A 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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Ames419370-58/SetHrn{2017 GORf4 LA
Section All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved July 25, 2017.
Mayor
Attest:
C��,J 1�,t,1���• V�c.u-Y
City Clerk
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