HomeMy WebLinkAbout~Master - Setting Date for Sale of General Obligation Corporate Purpose Bonds, Series 2018A and Authorizing the use of a Preliminary Official Statement Anies419370-61/Auth POS/SetSale2018AGO
RESOLUTION NO. 18-482
Setting date for sale of General Obligation Corporate Purpose Bonds, Series
2018A and authorizing the use of a preliminary official statement in connection
with the sale of the Bonds
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"), 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, acquiring emergency
services communication equipment and making improvements at the City's Fire Station #1, and
has published notice of the proposed action and has held a hearing thereon; and
WHEREAS, the City proposes to offer for sale its General Obligation Corporate Purpose
Bonds, Series 2018A, in the principal amount of$8,120,000 (the "Bonds"); and
WHEREAS, a Preliminary Official Statement (the "Preliminary Official Statement") has
been prepared to facilitate the sale of the Bonds and it is now necessary to make provision for
the approval of the Preliminary Official Statement and to authorize its use by PFM Financial
Advisors LLC;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 281h day of August, 2018, at 11 o'clock a.m. is hereby set as the
deadline for submitting bids for the sale of the Bonds, and the City Council will meet on the
same date to review the bids received and to take action to award the sale of the Bonds.
Section 2. The use by PFM Financial Advisors LLC of the Preliminary Official
Statement relating to the Bonds, in substantially the form as has been presented to and
considered by the City Council, is hereby approved, and PFM Financial Advisors LLC is hereby
authorized to prepare and use a final Official Statement for the Bonds substantially in the form of
the Preliminary Official Statement, but with such changes therein as are required to conform the
same to the terms of the Bonds and, when adopted, the resolution authorizing the issuance of the
Bonds, and the City Cleric is hereby authorized and directed to execute a final Official Statement
for the Bonds, if requested. The Preliminary Official Statement as of its date is deemed final by
the City within the meaning'of Rule 15(c)(2)-12 of the Securities and Exchange Commission.
Section 3. Pursuant to Section 75.14 of the Code of Iowa, the City Council hereby
authorizes the use of electronic bidding procedures for the sale of the Bonds through PARITY®,
and hereby finds and determines that the PARITY® competitive bidding system will provide
reasonable security and maintain the integrity of the competitive bidding process and will
facilitate the delivery of bids by interested parties under the circumstances of this bond sale.
Section 4. All resolutions and orders or parts thereof in conflict with the provisions
of this resolution, to the extent of such conflict, are hereby repealed.
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DORSEY&WMTNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-61/Audi POS/SetSale2018AGO
Section 5. This resolution shall be in full force and effect immediately upon its
adoption and approval, as provided by law.
Passed and approved August 14, 2018.
Mayor
Attest:
City Clerk
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA