HomeMy WebLinkAbout~Master - Setting date of Public Hearing to authoirze additional uses of General Obligation Bond Series 2017 and Series 2018A to fund extension of utilities to the East Industrial Area Ames419370-67/SetHrnb Amend2017/18GO IssncResols
RESOLUTION NO. 21-258
Setting date for public hearing on amendments to 2017 and 2018 General
Obligation Bond Issuance Resolutions
WHEREAS,pursuant to the provisions of Chapter 3 84 of the Code of Iowa, on August 22,
2017, the City Council of the City of Ames, Iowa (the "City"), adopted Resolution No. 17-545
(the "2017A Bond Issuance Resolution"), which authorized the issuance of general obligation
bonds (the "Series 2017A Bonds") in the amount of$10,975,000, for the purpose of paying the
cost,to that extent, of constructing public improvements and refunding outstanding debt; and
WHEREAS,pursuant to the provisions of Chapter 384 of the Code of Iowa, on August 28,
2018,the City Council of the City also adopted Resolution No. 18-512(the"201.8A Bond Issuance
Resolution"), which authorized-.the issuance of general obligation bonds (the "Series 2018A
Bonds") in the amount of $7,490,000, for the purpose of paying the cost, to that extent, of
constructing public improvements, acquiring equipment and improving Fire Station #1; and
WHEREAS, it has been determined that proceeds from the issuance of the Series 2017A
Bonds and the Series 2018A Bonds remain (the "Remaining Bond Proceeds") after the original
projects have been completed or funds have been obligated; and
WHEREAS, it-has been proposed that the Council take action to amend the 2017A Bond
Issuance Resolution and the 2018A Bond Resolution (together, the "Bond Resolutions") in order
to make it possible to spend up to $775,000 of the Remaining Bond Proceeds on improvements to
the municipal waterworks system and the municipal sanitary sewer system; and
WHEREAS, before amending the Bond Issuance Resolutions, it is necessary for the City
Council to fix a date of meeting at which it is proposed to take action to amend the Bond Issuance
Resolutions and to give notice thereof as required by law;
NOW, THEREFORE, Be It Resolved by the City Council of Ames, Iowa, as follows:
Section 1. This Council shall meet on June 8,2021,at the City Hall Council Chambers,
at 6:00 p.m., at which time and place a hearing will be held and proceedings will be instituted and
action taken to amend the Bond Issuance Resolutions.
Section 2. The City Clerk is hereby directed to give notice of the hearing on
amendments to the Bond Issuance Resolutions including the time when and place where the said
meeting will be held, by publication at least once and not less than four nor more than twenty days
before the meeting, in a legal newspaper of general circulation in the City.
The notice shall be in substantially the following form:
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Ames4I9370-67/SetHm2-Amend2017/18G0 IssneResols
NOTICE OF PUBLIC HEARING ON AMENDMENTS TO SERIES 2017A AND SERIES
2018A BOND ISSUANCE RESOLUTIONS
The City Council of the City of Ames, Iowa, will meet on June 8, 2021, at 6:00 p.m., for
the purpose of holding a public hearing on amendments to general obligation bond issuance
resolutions dated August 22, 2017 and August 28, 2018 (the "Bond Issuance Resolutions"), for
the purpose of authorizing the use of remaining bond proceeds in an amount not to exceed
$775,000 for improvements to the municipal waterworks system and the municipal sanitary sewer
system.
The amendments to the Bond Issuance Resolutions are proposed to be approved pursuant
to authority contained in Chapter 384 of the Code of Iowa, and the amendments will constitute
general obligations of the City.
At the time and place of the hearing, oral or written objections may be filed or made to the
proposal to amend the Bond Issuance Resolutions. After the hearing, the Council may take action
to amend the Bond Issuance Resolutions, 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 Ames, Iowa.
Diane Voss
City Clerk
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Ames4 19370-67/SetHma.-Amend2017/1 BGO EssncResols
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved May 25, 2021.
Mayor
Attest:
City Clerk
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