HomeMy WebLinkAbout~Master - Amendments to Series 2017A and Seriers 2018A Bond Issuance Ames419370-67/HmgAmend2017Aand 201 SAIssncResol
RESOLUTION NO. 21-332
Approving amendments to Resolutions related to issuance of General Obligation
Bonds, Series 2017A and Series 2018A
WHEREAS, pursuant to the provisions of Chapter 384 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 "2018A 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 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,pursuant to notice published as required by state law,the Council has held a
public hearing on the proposal to amend the 2017A Bond Issuance Resolution and the 2018A
Bond Issuance Resolution;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The 2017A Bond Issuance Resolution, identified as Resolution No. 17-
545, and the 2018A Bond Issuance Resolution, identified as Resolution No. 18-512, are hereby
amended to add "improvements to the municipal waterworks system and the municipal sanitary
sewer system" to the projects for which the original proceeds of the Series 2017A Bonds and the
Series 2018A Bonds and the Remaining Bond Proceeds may be spent.
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Ames419370-67/HmgAmend2017Aand 2018AIssncResol
Section 2. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Passed and approved June 8, 2021.
Mayor
Attest:
City Clerk
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