HomeMy WebLinkAbout~Master - Set date of public hearing for Corporate Purpose G.O. Bonds in the amount of $8,525,000 Ames419370-61/SetHmgs20I8A GO LA
RESOLUTION NO. 18-054
Resolution to fix a date for public hearings on loan agreements in a principal
amount not to exceed $8,525,000
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to
enter into a General Obligation Essential Corporate Purpose Loan Agreement (the "Essential
Purpose Loan Agreement") in a principal amount not to exceed $8,375,000, pursuant to the
provisions of Section 384.24A of the Code of Iowa, for the essential corporate purposes of
paying the cost, to that extent, of constructing improvements to streets and acquisition of
emergency services communication equipment, 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 Essential Purpose Loan
Agreement and to give notice thereof as required by such law; and
WHEREAS, the City also proposes to enter into a Fire Station Improvements Loan
Agreement (the "Fire Station Loan Agreement") in a principal amount not to exceed $150,000,
pursuant to the provisions of Section 384.2A of the Code of Iowa, for the general corporate
purpose of making improvements at the City's Fire Station#1, 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 Fire Station
Loan Agreement and to give notice thereof as required by such law, including notice of the right
of voters to petition for an election on the Fire Station Loan Agreement;
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 bth day of March, 2018, at the City
Hall Council Chamber, Ames, Iowa, at 6:00 o'clock p.m., at which time and place hearings will
be held and proceedings will be instituted and action taken to enter into the Loan Agreements.
Section 2. The City Clerk is hereby directed to give notice of the proposed action on
the Essential Purpose 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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Ames419370-61/SetHrngs2018A GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $8,375,000
(GENERAL OBLIGATION ESSENTIAL PURPOSES)
The City Council of the City of Ames, Iowa, will meet on the 6th day of March, 2018, 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 "Essential
Purposes Loan Agreement") in a principal amount not to exceed $8,375,000 for the purpose of
paying the cost, to that extent, of constructing improvements to streets and acquiring emergency
services communication equipment.
The Essential Purposes 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 Essential Purposes Loan Agreement. After receiving objections, the City may
determine to enter into the Essential Purposes 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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Section 3. The City Clerk is hereby directed to give notice of the proposed action on
the Fire Station 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 10
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,IOWA
Ames419370-61/SetHrngs2018A GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $150,000
(GENERAL OBLIGATION FIRE STATION IMPROVEMENTS)
The City Council of the City of Ames, Iowa, will meet on the 6th day of March, 2018, 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 "Fire Station
Loan Agreement") in a principal amount not to exceed $150,000 for the purpose of paying the
cost, to that extent, of constructing improvements to the City's Fire Station#1.
The Fire Station 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.
The maximum rate of interest which may be payable under the Fire Station Loan
Agreement is 6% per annum.
At that time and place, oral or written objections may be filed or made to the proposal to
enter into the Fire Station Loan Agreement. After receiving objections, the City may determine
to enter into the Fire Station Loan Agreement, in which case, the decision will be final unless
appealed to the District Court within fifteen(15) days thereafter.
At any time before the date fixed for taking action to enter into the Fire Station Loan
Agreement, a petition may be filed with the City Clerk of the City asking that the question of
entering into the Fire Station Loan Agreement be submitted to the registered voters of the City,
pursuant to the provisions of Section 384.26 of the Code of Iowa.
By order of the City Council of the City of Ames, Iowa.
Diane Voss
City Clerk
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Ames419370-61/SetHmgs2018A GO LA
Section 4. All resolutions or parts of, resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved February 13, 2018.
Mayor
Attest:
City Clerk
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