HomeMy WebLinkAbout~Master - Setting Public Hearing regarding entering into a General Obligation Loan Agreement in an amount not to exceed $11,880,000 Ames419370-64/SetHmg2019A GO LA
RESOLUTION NO. 19-031
Resolution to fix a date for public hearing on a loan agreement in a principal
amount not to exceed $11,880,000
WHEREAS, the City of Ames (the "City"), in Story County, State of Iowa, proposes to
enter into a General Obligation Loan Agreement (the "Loan Agreement") in a principal amount
not to exceed $11,880,000, 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, sanitary sewers and bridges 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 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 5th day of March, 2019, 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 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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Ames419370-64/SetHma.2019A GO LA
NOTICE OF PUBLIC HEARING ON LOAN AGREEMENT IN A PRINCIPAL
AMOUNT NOT TO EXCEED $11,880,000
(GENERAL OBLIGATION ESSENTIAL PURPOSES)
The City Council of the City of Ames, Iowa, will meet on the 5th day of March, 2019, 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 $11,880,000, for the purpose of paying the
cost, to that extent, of constructing improvements to streets, sanitary sewers and bridges and
acquiring emergency services communication equipment.
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 Council 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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Ames419370-64/SetHmg2019A 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 12,2019.
Mayor
Attest:
City Clerk
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