HomeMy WebLinkAbout~Master - Election to be held on September 10, 2019 for the Healthy Life Center Ames/419370-62/Election Proc
RESOLUTION NO. 19-268
Resolution calling an election on the proposition of entering into a loan agreement
and issuing general obligation bonds in a principal amount not to exceed
$29,065,000 for a Healthy Life Center
WHEREAS, it is deemed advisable that the City of Ames, Iowa (the "City"), enter into a
loan agreement and issue its general obligation bonds in an amount not exceeding $29,065,000 to
provide funds to pay the cost, to that extent, of constructing, furnishing and equipping a Healthy
Life Center and associated public infrastructure (hereinafter referred to as the "Project"); and
WHEREAS, pursuant to Chapter 384 of the Code of Iowa, before the City may enter into
a loan agreement and issue its general obligation bonds for such purpose, the City must hold a
special election upon such proposition and receive a favorable vote from at least 60% of the total
votes cast at such special election;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames,
Iowa, as follows:
Section 1. A special municipal election is hereby called and ordered to be held in and
for the City, on September 10, 2019, at which there will be submitted to the voters of the City the
following proposition:
"Shall the City of Ames, in Story County, State of Iowa, enter into a loan
agreement and issue its general obligation bonds in an amount not exceeding the
amount of $29,065,000 for the purpose of paying the cost, to that extent, of
constructing, furnishing and equipping a Healthy Life Center, including an
aquatic center and therapy pool, exercise facilities, child care and activity areas,
physical therapy and medical rehabilitation facilities, facilities providing care
and services for senior citizens, and public meeting spaces and constructing
necessary public infrastructure improvements?"
Section 2. The Story County Commissioner of Elections is hereby authorized and
requested to issue a proclamation and notice of the election on the aforementioned proposition
and of the time and place thereof and to take all other actions necessary pursuant to state law to
conduct the election.
Section 3. All of the foregoing matters are adopted and resolved by this City Council,
and the City Clerk is hereby directed to give written notice thereof by submitting a copy of this
resolution at least 46 days before the date of the election to the Story County Commissioner of
Elections, who has the duty to conduct this election, for approval, ratification and confirmation
to the extent required by Iowa law, and such County Commissioner of Elections shall signify
such approval, ratification and confirmation and shall order the election to be conducted in the
manner set forth herein by signing the order attached to this resolution.
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames/419370-62/Election Proc
Section 4. Pursuant to Section 1.150-2 of the Income Tax Regulations (the
"Regulations") of the Internal Revenue Service, the City declares (a) that it intends to undertake
the Project which is reasonably estimated to cost at least $29,065,000, (b) that other than (i)
expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or
other obligations (the "Bonds"), or (ii) expenditures made not earlier than 60 days prior to the
date of this Resolution or a previous intent resolution of the City,or(iii) expenditures amounting
to the lesser of$100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting
preliminary expenditures as defined in Section 1.150-2(f)(2) of the Regulations, no expenditures
for the Project have heretofore been made by the City and no expenditures will be made by the
City until after the date of this Resolution or a prior intent resolution of the City, and (c) that the
City reasonably expects to reimburse the expenditures made for costs of the City out of the
proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to
Section 1.150-2 of the Regulations.
Section 5. All resolutions or parts of resolutions in conflict herewith are hereby
repealed,to the extent of such conflict.
Passed and approved May 28, 2019.
Mayor - - -- ---
Attest:
City Clerk
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DORSEV&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA