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HomeMy WebLinkAbout~Master - July 27, 2021, Regular Meeting of the Ames City CouncilAMENDED AGENDA SPECIAL MEETING OF THE AMES CONFERENCE BOARD AND REGULAR MEETING OF THE AMES CITY COUNCIL COUNCIL CHAMBERS - CITY HALL 515 CLARK AVENUE JULY 27, 2021 SPECIAL MEETING OF THE AMES CONFERENCE BOARD CALL TO ORDER: 6:00 p.m. 1. Roll Call 2. Discussion of next steps in the process to hire a new Ames City Assessor CONFERENCE BOARD COMMENTS: ADJOURNMENT: REGULAR MEETING OF AMES CITY COUNCIL* *The Regular Meeting of the Ames City Council will immediately follow the Special Meeting of the Ames Conference Board. NOTICE TO THE PUBLIC: The Mayor and City Council welcome comments from the public during discussion. If you wish to speak, please complete an orange card and hand it to the Clerk. When your name is called, please step to the microphone, state your name for the record, and limit the time used to present your remarks in order that others may be given the opportunity to speak. The normal process on any particular agenda item is that the motion is placed on the floor, input is received from the audience, the Council is given an opportunity to comment on the issue or respond to the audience concerns, and the vote is taken. On ordinances, there is time provided for public input at the time of the first reading. In consideration of all, if you have a cell phone, please turn it off or put it on silent ring. CONSENT AGENDA: All items listed under the Consent Agenda will be enacted by one motion. There will be no separate discussion of these items unless a request is made prior to the time the Council members vote on the motion. 1. Motion approving payment of claims 2. Motion approving Minutes of Regular Meeting held July 13, 2021, and Special Meeting held July 22, 2021 3. Motion certifying Civil Service candidates 4. Motion approving Report of Change Orders for period July 1 - 15, 2021 5. Motion approving ownership change for Class E Liquor License with Class B Wine Permit, Class C Beer Permit (Carryout Beer) and Sunday Sales - Kum & Go #1215, 4506 Lincoln Way 6. Motion approving ownership change for Class C Liquor License with Catering Privilege and Sunday Sales - Texas Roadhouse, 519 South Duff Avenue 7. Motion approving ownership change for Class A Liquor License - Green Hills Residents’ Association, 2200 Hamilton Drive, Suite 100 8. Motion approving renewal of the following Beer Permits, Wine Permits and Liquor Licenses: a. Class C Liquor License with Catering Privilege, Outdoor Service & Sunday Sales - Cyclone Experience Network, 1800 S 4th Street Pending Dram Shop Insurance b. Class C Liquor License with Class B Wine Permit & Sunday Sales - Hy-Vee Market Grille, 640 Lincoln Way c. Class E Liquor License with Class B Wine Permit and Class C Beer Permit (Carryout Beer) - Fareway Meat Market #189, 3720 Lincoln Way d. Class C Liquor License with Outdoor Service, Catering Privilege, Class B Native Wine Permit, Outdoor Service & Sunday Sales - The Mucky Duck Pub, 3100 S Duff Avenue e. Class E Liquor License with Class B Wine Permit, Class C Beer Permit (Carryout Beer) and Sunday Sales - Kum & Go #1215, 4506 Lincoln Way f. Class C Liquor License with Sunday Sales - Es Tas Stanton, 216 Stanton g. Special Class C Liquor License with Sunday Sales - New Hickory Holding Company, 1404 S. Duff Avenue Pending Dram Shop Insurance h. Class C Liquor License with Outdoor Service and Sunday Sales - La Casa Maya, 631 Lincoln Way 9. Resolution approving Investment Report for Fiscal Year Ending June 30, 2021 10. Resolution appointing Chunhui Chen to the Ames Human Relations Commission 11. Resolution approving Agreement between Ames Human Relations Commission and Iowa Civil Rights Commission regarding Intake and Investigation of Civil Rights Complaints 12. Resolution approving Official Statement for General Obligation Corporate Purpose Bonds, Series 2021A, setting date of sale for August 10, 2021, and authorizing electronic bidding for the sale 13. Resolution approving renewal of contract with EMC Risk Services, LLC, of Des Moines, Iowa, to provide third-party administration of the City’s Worker’s Compensation and Municipal Fire and Police “411 System” claims for August 1, 2021, through July 31, 2022, at a cost not to exceed $55,000 14.Resolution approving Professional Services Agreement with WHKS & Co., of Ames, Iowa, for the 2021/22 Shared Use Path System Expansion - Ioway Creek (SE 16th Street to S 5th Street) in an amount not to exceed $72,400 15. Resolution approving Professional Services Agreement with MSA of Ankeny, Iowa, for 2021/22 Arterial Street Pavement Improvements (Ontario and North Dakota) in an amount not to exceed $82,125 16. Resolution approving Ames Sanitary Landfill Environmental Covenant with Iowa Department of Natural Resources 17. Resolution reauthorizing the GIS Software Enterprise Licensing Agreement with Environmental Systems Research Institute of Redlands, California, for a term of 3 years at a rate of $66,500 per annum 18. Ames on the Half Shell: a. Resolution waiving enforcement of prohibition of alcohol consumption in Bandshell Park (Section 17.17 of Municipal Code) from 5:00 PM to 9:00 PM on Friday, August 13, 2021 b. Motion authorizing Parks & Recreation Director or designee to administratively approve 2 alternative dates during August and September 2021 should additional cancellations occur 19. Resolution approving preliminary plans and specifications for 2021/22 Shared Use Path Maintenance setting August 18, 2021, as bid due date and August 24, 2021, as date of public hearing 20. Resolution approving contract and bond for 2020/21 Arterial Street Pavement Improvements - 13th Street (Duff Avenue to Meadowlane Avenue) 21. Resolution approving contract and bond for Sludge Pumping Building Improvements Project *Additional Item: Resolution approving contract and bond for Prairie View Industrial Center Utility Extension Project 22. Resolution approving Change Order No. 4 for the 2018/19 Sanitary Sewer Rehabilitation (Siphon) in the amount of $126,739.20 23. Resolution approving Change Order No. 1 for Electric Services Underground Trenching in the amount of $67,000 24. Major Final Plat for Scenic Valley Subdivision, 6th Addition: a. Resolution approving partial completion of public improvements b. Resolution approving Major Final Plat 25. Resolution approving completion of Emma McCarthy Lee Park Bridge Project 26. Resolution approving completion of Inis Grove Park Sidewalk Project 27. Resolution approving completion of the Electric Distribution Parking Lot Reconstruction 28. Water Treatment Plant Lime Sludge Disposal: a. Resolution accepting completion of Year Three (FY 2020/21) Lime Sludge Disposal Contract with Wulfekuhle Injection and Pumping, Inc., of New Vienna, Iowa, in the final amount of $341,217.54 b. Resolution awarding Year Four (FY 2021/22) Lime Sludge Disposal Contract with Wulfekuhle Injection and Pumping, Inc., of New Vienna, Iowa, in the amount of $381,900 PUBLIC FORUM: This is a time set aside for comments from the public on topics of City business other than those listed on this agenda. Please understand that the Council will not take any action on your comments at this meeting due to requirements of the Open Meetings Law, but may do so at a future meeting. The Mayor and City Council welcome comments from the public; however, at no time is it appropriate to use profane, obscene, or slanderous language. The Mayor may limit each speaker to three minutes. ADMINISTRATION: 29. Discussion with ASSET Volunteers regarding FY 2022-23 ASSET Priorities: a. Motion approving City of Ames ASSET Priorities for FY 2022-23 Funding Cycle 30. Downtown Plaza: a. Resolution waiving Purchasing Policies and Procedures for competitive bidding of professional services and approving a single-source contract b. Resolution awarding a contract to Confluence of Des Moines, Iowa, for design and construction management of the Downtown Plaza in the amount of $325,250 31. Downtown Reinvestment District Urban Renewal Area and Plan: a. Resolution of Necessity to initiate proceedings for creating Urban Renewal Area b. Motion forwarding draft Urban Renewal Plan to Planning and Zoning Commission for 3 recommendation c. Motion appointing staff from Planning & Housing as the City’s representative to the consultation with affected taxing entities d. Resolution setting August 24, 2021, as date of public hearing for Urban Renewal Plan 32. Motion directing staff regarding the issuing process for General Obligation Bonds relating to the Indoor Aquatic Center PLANNING & HOUSING: 33. Staff Report regarding addressing the need for small industrial lots: a. Motion directing staff to prepare RFP for competitive bidding process with proposals describing the size of the development, cost of infrastructure, timing, planned uses, and level of City subsidy for a TIF infrastructure project 34. Motion authorizing initiation of application for Voluntary Annexation of land located along North 500th Avenue north of Lincoln Way WATER & POLLUTION CONTROL: 35. Resolution pledging up to $246,000 of local monies to be used to meet the minimum local match requirement of the FEMA Hazard Mitigation Grant Application for the Well Field Standby Power Project ORDINANCES: 36. First passage of ordinance amending Urban Deer Management Program regarding reporting requirement 37. Second passage of ordinance rezoning, with Master Plan, 4514 and 4605 Hyde Avenue from Agricultural (A) to Suburban Residential Low Density (FS-RL) DISPOSITION OF COMMUNICATIONS TO COUNCIL: COUNCIL COMMENTS: ADJOURNMENT: *Please note that this agenda may be changed up to 24 hours before the meeting time as provided by Section 21.4(2), Code of Iowa. 4 MINUTES OF THE MEETING OF THE AMES AREA METROPOLITAN PLANNING ORGANIZATION (AAMPO) TRANSPORTATION POLICY COMMITTEE, JOINT MEETING OF THE AMES HUMAN RELATIONS COMMISSION, AND REGULAR MEETING OF THE AMES CITY COUNCIL AMES, IOWA JULY 13, 2021 AMES AREA METROPOLITAN PLANNING ORGANIZATION (AAMPO) TRANSPORTATION POLICY COMMITTEE MEETING CALL TO ORDER: The Ames Area Metropolitan Planning Organization (AAMPO) Transportation Policy Committee meeting was called to order by Ames Mayor and voting member John Haila at 6:00 p.m. on the 13th day of July, 2021. Other voting members present were: Bronwyn Beatty-Hansen, City of Ames; Gloria Betcher, City of Ames; Amber Corrieri, City of Ames; Tim Gartin, City of Ames; Rachel Junck, City of Ames; David Martin, City of Ames; Linda Murken, Story County Supervisor; and Jacob Ludwig, Transit Board. Jon Popp, Mayor of Gilbert; and Bill Zinnel, Boone County Supervisor, were absent. HEARING ON FINAL FFY 2022-2025 TRANSPORTATION IMPROVEMENT PROGRAM (TIP): Public Works Director John Joiner explained that the 2022-2025 Transportation Improvement Program was presented to the Committee in May. During the public comment period, the document and project maps were available online and at a virtually held public input session. AAMPO staff received and addressed minor comments from the Iowa Department of Transportation, Federal Highway Administration, and Federal Transit Administration. Chairperson Haila opened the public hearing and closed it when no one came forward to speak. Moved by Beatty-Hansen, seconded by Murken, to adopt RESOLUTION NO. 21-385 approving the Final FFY 2022-2025 Transportation Improvement Program (TIP). Vote on Motion: 9-0. Motion declared carried unanimously. POLICY COMMITTEE COMMENTS: Story County Supervisor Murken wanted to know the progress or lack thereof on studying the 190th and Hyde Avenue intersection. She noted that the Story County Board of Supervisors is concerned about this intersection. Ms. Murken pointed out that formal correspondence was given to the City in September 2019, and a stop sign was put up, but it did not work out well. She noted that the City has since annexed the area. The issues regarding this intersection is being exacerbated by all the development in the area (Auburn Trail, Hayden’s Preserve, and additional housing on the east side of Hyde in Quarry Estates). Ms. Murken mentioned that the intersection needs to be studied sooner rather than later. Traffic Engineer Damion Pregitzer noted that the 2040 Long-Range Plan showed improvements to paving in the area only. He explained the new 2045 Long-Range Plan had accelerated the area into an intersection improvement. Mr. Pregitzer mentioned that the short-term is FY 2025-2029, and two years in advance the City would be the sponsor of this project and it would be put into the Capital Improvements Plan (CIP). The current CIP shows that in FY 2022/23, the North Growth intersection studies are scheduled to be done. Mr. Pregitzer explained that the two-year planning process in advance of an actual improvement is a typical timeline. Ms. Murken verified that the earliest a study could be done would be July 1, 2022, with something being done in FY 2025-2029. Mr. Pregitzer confirmed that was correct if the City wanted to use federal aid; improvements could be done faster if a safety grant was received through the state or some other type of grant, but that is what the traffic study would tell staff. The traffic study would indicate the cost, and look at safety concerns, and operations to help them determine how competitive staff could be with a federal or state program. Ms. Murken inquired if there was an estimate as to how much the traffic study would cost. It was noted that the City budgeted $65,000 to do all three intersections in the area, and the normal range is $10,000 to $15,000 per intersection. Ms. Murken mentioned that she would like to have further discussions to see what options there would be to move the traffic study into this fiscal year. She noted that her concern was that last year the schools were held virtually and there were not any problems with the intersection due to less traffic; however, schools will be open as usual this year and it will become a bigger problem. She would like to figure out a way to continue a discussion of the intersection, in question. Council Member Corrieri asked how other studies that are planned in the Work Plan would be affected if the Council decided to discuss moving up the timeline for the traffic study along 190th and Hyde. Mr. Pregitzer mentioned that it would be part of staff’s job in putting a proposal together to let the Council know what the impacts would be from a funding and workload perspective. Ms. Murken stated that with the school year starting soon, she felt they needed to have some temporary measures put in place at the intersection. Council Member Gartin commented that he will be making a motion during Council Comments to ask for temporary measures. Ms. Murken mentioned that the County would be interested in being a part of the conversation as they are interested in 190th and the other two intersections that are scheduled to be done in FY 2025-2029. ADJOURNMENT: Moved by Ludwig, seconded by Betcher to adjourn the Ames Area Metropolitan Planning Organization Transportation Policy Committee meeting at 6:15 p.m. JOINT MEETING OF THE AMES HUMAN RELATIONS COMMISSION AND AMES CITY COUNCIL The Joint Meeting of the Ames City Council and Ames Human Relations Commission was called to order by Mayor John Haila at 6:17 p.m. on the 13th day of July, 2021, in the City Council Chambers in City Hall, 515 Clark Avenue, pursuant to law. In addition to the Mayor, City Council Members Bronwyn Beatty-Hansen, Gloria Betcher, Amber Corrieri, Tim Gartin, Rachel Junck, and David Martin were present. Trevor Poundstone, Ex officio was also present. Representing the Ames Human Relations Commission (AHRC) were Jahmai Fisher, Wayne Clinton, Madesh Samanu, and Lynette Plander 2 PRESENTATION OF ANNUAL REPORT: Jahmai Fisher, Ames Human Relations Commission (AHRC) Chairperson, gave highlights of the Annual Report. She noted that first on the Report was the Commission’s Purpose, overview of work, mission of the Commission, and how the Commission implements the provision of the Iowa City Rights Act to provide general welfare for the citizens of Ames. The AHRC’s purpose is to study the existence of discrimination in the community and work to minimize or eliminate it, promote goodwill among the various racial, religious, and ethnic groups in the City, and cooperate with other organizations to develop programs designed to eliminate racial, religious, cultural, and intergroup tensions. Ms. Fisher noted that there are a number of highlights that were outlined in the Report; however, there were a few she wanted to focus on. Despite the pandemic and its limitations, the AHRC increased its overall engagement with the community through its social media presence. The Commission’s photos and bios had over 4,000 hits on the City’s Facebook page. Along the lines of increasing its visibility and communication with the Ames community, AHRC created a video message in response to reports of hatred and/or discrimination to members of the Asian and Pacific Islander community in Ames. The Commission continued its support for City-sponsored events, such as the Symposium on Building Inclusive Environments along with the Annual MLK Jr. Celebration. Ms. Fisher explained that despite the many challenges that were brought to everyone in 2020, the Commission did its best to be seen and heard. The AHRC reviews any cases of discrimination in partnership with the Iowa Civil Rights Commission (ICRC). Most of the claims in 2019 fell under employment-related concerns and housing. In 2019, race and retaliation were the main themes. The 2020 data showed trends in employment and public accommodation areas. There were 36 complaints in 2020, and the basis for those complaints was mainly disability, retaliation, and sex. Of the 36 complaints, 12 cases are still open and 14 of them were closed administratively. There are five federal laws that protect individuals with disabilities from discrimination, employment, and the job application process. The Americans with Disabilities Act, The Rehabilitation Act, The Workforce Innovation and Opportunity Act, The Vietnam Era Veterans Readjustment Assistance Act, and The Civil Service Reform Act. Ms. Fisher noted that based on data from previous years, there is an increase in complaints to the Iowa Civil Rights Commission. The increase could be due to the increased visibility and accessibility on how to file a complaint or by circumstances brought on by the pandemic. Complaints related to disability and employment have increased and the Commission has noted this increase. Chairperson Fisher explained that going forward the AHRC is focused on increasing its visibility, dedicated to making a shared understanding of diversity, equity, and inclusion in the City of Ames. It was noted that the Commission’s 2020-22 Strategic Plan was included in the Report. Council Member Gartin inquired where the Report would be located if someone wanted to view the information. Ms. Fisher mentioned it could be found on the AHRC website. Mr. Gartin noted that there was an increase in some of the complaints, and he asked to know if it was possible to add some longitudinal data to compare previous year’s data. Ms. Fisher commented that more in-depth data could be accessed through the Iowa Civil Rights Commission. Ms. Schildroth explained that a year 3 ago they had the Executive Director for the Iowa Civil Rights Commission conduct training on the complaint process. One of the things the AHRC asked for was for more information on the complaints. AHRC does not see any of the paperwork and the only data that is provided is for the Annual Report. One of the problematic issues is that its system that is used to collect information is “clunky/antiquated” and the ICRC is wanting to replace the system in the hopes of providing more information to the Commissioners. Council Member Betcher inquired if the complaint process was available in multiple languages. Ms. Schildroth stated that it is available in multiple languages and the City’s website can change the language of the page to be able to read the information in the language that best suits the individual. Ms. Betcher noted that she liked the videos and the biographies and felt it was a great idea to help personalize the Commission. She wanted to know what the plan was for more face-to-face outreach. Ms. Fisher noted that this year they sat as panelists for the “See Yourself in Ames” program. She mentioned that one of the issues they are facing is that a lot of people don’t know the Commission exists, but they are working on developing partnerships to establish and maintain a captive audience. Council Member Beatty-Hansen mentioned that she was reviewing the Report and one interesting thing she noticed was the results of the complaints. She stated that the result of “Right-to-Sue” was due to a legitimate complaint where cause was found. Ms. Beatty-Hansen wanted to know how the “Right-to-Sue” numbers compared this year to previous years. She also would like to see the longitudinal data in future reports. She noted that she wished they could find out who the employers were in order to provide education to the employers about employment laws. Ms. Fisher explained that she did not have the numbers available for the “Right-to-Sue,” but could get the information and provide it at a later time to the Council. Mr. Clinton noted that, while they don’t have the numbers, the category is one that has stood out for the last several years that he has been on the Commission. Determining the aggregate number is challenging as they don’t receive a lot of in-depth information or have the ability to ask a lot of questions. Ms. Fisher noted that there are limitations, but hopefully they will become more visible when the Commission becomes more proactive. Council Member Betcher asked if the AHRC had identified any new community partners. Ms. Fisher said that they have just partnered with the Ames Public Library and are looking forward to seeing what that partnership will bring. Mayor Haila wanted to know what the current plan was for reaching out to students. Mr. Samanu stated the AHRC plans on being at Iowa State University’s “WelcomeFest” and will partner with ISU as a whole. COMMISSION COMMENTS: No Comments were made. ADJOURNMENT: Moved by Beatty-Hansen to adjourn the joint meeting at 6:35 p.m. 4 REGULAR MEETING OF THE AMES CITY COUNCIL The Regular Meeting of the Ames City Council was called to order by Mayor John Haila at 6:36 p.m. on July 13, 2021, in the City Council Chambers in City Hall, 515 Clark Avenue, pursuant to law. Present were Council Members Gloria Betcher, Bronwyn Beatty-Hansen, Amber Corrieri, Tim Gartin, Rachel Junck, and David Martin. Ex officio Member Trevor Poundstone was also in attendance. PROCLAMATION FOR PARKS & RECREATION MONTH, JULY 2021: Mayor Haila proclaimed July 2021 as “Parks & Recreation Month.” Parks and Recreation Director Keith Abraham thanked the Mayor and Council. He mentioned that this year’s theme is “Our Parks and Recreation Story.” He explained there are several stories that could be told, and the support that the Parks & Recreation Department has received has been wonderful. Director Abraham wanted to mention one story. He stated that in the spring the City of Ames held the first Miracle League game for individuals with disabilities. During the game a ten-year old who was getting ready to bat when the coach called his name to go up to bat, the child turned to his mom and said “Mom, miracles do happen.” Director Abraham stated it is tremendous that this community puts such an emphasis on parks and recreation. CONSENT AGENDA: Moved by Corrieri, seconded by Betcher, to approve the following items on the Consent Agenda. 1.Motion approving payment of claims 2.Motion approving Minutes of Regular Meeting held June 22, 2021, and Special Meetings held June 15, 2021, and June 24, 2021 3.Motion approving Report of Change Orders for period June 16 - 30, 2021 4.Motion certifying Civil Service candidates 5.Motion approving New 12-Month Special Class C Liquor License with Outdoor Service & Sunday Sales - Northcrest Community 1801 20th Street Pending Dram Shop Insurance 6.Motion approving Premise Update - Inside Golf, LLC Class C Liquor License with Sunday Sales -2801 Grand Ave #1075 7.Motion approving New 12-Month Special Class C Liquor License with Outdoor Service & Sunday Sales - Burgie’s Coffee Co North, LLC 3701 Stange Road 8.Motion approving renewal of the following Beer Permits, Wine Permits and Liquor Licenses: a.Class C Liquor License with Sunday Sales - Applebee’s Neighborhood Grill & Bar, 105 Chestnut b.Class C Liquor License with Living Quarters & Sunday Sales - Sportsman’s Lounge, 123 Main Street c.Class E Liquor License with Class B Wine Permit, Class C Beer Permit (Carryout) and Sunday Sales - AJ’s Liquor II, 2515 Chamberlain d.Special Class C Liquor License and Sunday Sales - Huhot Mongolian Grill, 703 S. Duff Avenue Suite 105, Pending Dram Shop Insurance e.Class C Liquor License with Sunday Sales - Welch Ave Station, 207 Welch Avenue f.Class B Liquor License, Class B Wine Permit, Catering, Outdoor Service & Sunday Sales - Courtyard by Marriott Ames, 311 S. 17th Street 5 9.RESOLUTION NO. 21-386 approving COTA Special Project Funding Grant to Story Theater Company in the amount of $1,000 10.RESOLUTION NO. 21-387 approving Encroachment Permit Agreement for Sign at 400 Main Street 11.RESOLUTION NO. 21-388 approving Memorandum of Understanding with Story County to apply for grant funding under the 2021 Department of Justice, Office of Justice Programs, Bureau of Justice Assistance Edward Byrne Memorial Justice Assistance Grant Program and authorize application for that Grant 12.RESOLUTION NO. 21-389 approving Electric Utility Easement on State of Iowa property for the installation of an electrical pull box on Arbor Street 13.RESOLUTION NO. 21-390 awarding a contract to Bobcat of Ames, Iowa, for purchase of one compact track loader for Parks Maintenance in the amount of $59,442.99 14.RESOLUTION NO. 21-391 approving Change Order No. 1 to Emerson Process Management, Power & Water Solutions, Inc., of Pittsburgh, Pennsylvania, for the Power Plant DCS Hardware and Software Upgrade in the amount of $175,855 with applicable sales tax being paid by the City in an amount up to $12,309.85 directly to the state of Iowa 15.RESOLUTION NO. 21-392 authorizing additional repairs to Water Pollution Control Facility Methane Engine No. 2 by Interstate Power Systems of Altoona, Iowa, in the additional amount of $22,264 16.RESOLUTION NO. 21-393 awarding contract to Boland Recreation of Marshalltown, Iowa, for the North River Valley Park Playground Replacement Project in the amount of $54,085 17.RESOLUTION NO. 21-394 awarding contract to Outdoor Recreation Products of Omaha, Nebraska, for the Inis Grove Park Playground Replacement Project in the amount of $53,724 18.RESOLUTION NO. 21-395 approving contract and bond for 2018/19 Main Street Pavers - Burnett to Kellogg 19.RESOLUTION NO. 21-396 approving partial completion of public improvements and reducing security for Domani Subdivision, 1st Addition 20.RESOLUTION NO. 21-397 approving partial completion of public improvements and reducing security for Quarry Estates Subdivision, 3rd Addition 21.RESOLUTION NO. 21-398 approving partial completion of public improvements and reducing security for Quarry Estates Subdivision, 4th Addition 22.RESOLUTION NO. 21-399 approving partial completion of public improvements and reducing security for Scenic Valley Subdivision, 4th Addition Roll Call Vote: 6-0. Motions/Resolutions declared carried/adopted unanimously, signed by the Mayor, and hereby made a portion of these Minutes. PUBLIC FORUM: Jon Wolseth, 902 Arizona Avenue, Ames, stated he was present as part of a coalition of organizations, including the Ames NAACP, various faith-based institutions, and Ames Immigration. The group has been meeting regularly for the past several months since the release of the Ames Policing Report. They appreciated that the City had taken the important first step in clarifying the kinds of police-community relationships that fit within the values of the City as outlined in the Excellence Through People organizational goals. Mr. Wolseth commented that they understand the Policing Report as an alignment of those goals and wish to support it through dialogue and research. He noted that any changes in policing is important, and significant community 6 input should be included beyond the kinds of forums that have been held in the past. The coalition advocates for community workshops that begin by informing participants of the legal, budgetary, and political constraints of changing policing in Iowa. With this foundation, community members could help shape the direction of policing in Ames. By understanding that this approach may not occur, the coalition will use the Public Comment period at Council meetings to share their findings and keep policing at the forefront of Council’s mind. He noted that they will begin with the recommendation of #16 in the October 2020 Report, creating an Ames Resident Police Advisory Committee. Mr. Wolseth explained that the National Association for Civilian Oversight of Law Enforcement (NACOLE) is the leading national organization that advocates for transparency in policing and building trust in the community through civilian oversight. It provides resources, training, and technical assistance for oversight boards, city staff, and elected officials. He noted that if the City of Ames is not yet a member, they believe the $400/year investment at the beginning of the process of defining the parameters and structure of the Ames Resident Police Advisory Committee would be money well spent. Further, they felt it would be prudent for the City Council to read the 2016 “Guidebook for the Implementation of New or Revitalized Police Oversight.” He noted that there were several free webinars available to the public. In future weeks, he will continue to share the guiding principles for effective civilian oversight committees. Public Forum was closed when no one else came forward to speak. STAFF REPORT ON 12TH STREET AND DUFF AVENUE PEDESTRIAN CROSSING: Public Works Director John Joiner explained that this item was in response to a City Council referral from a request that was received from McFarland Clinic regarding the pedestrian crosswalk at Duff Avenue and 12th Street. Public Works Traffic Engineer Damion Pregitzer mentioned that the Staff Report listed a summary of the issues that were brought up by McFarland Clinic. He noted that the reason he is providing a Staff Report is because the issues would be reflective of the City doing a corridor study. Mr. Pregitzer let the Council know that when looking through the options in the Report to keep in mind that they could be modified as it is a “work-in-progress.” In 2013, the City and the Clinic worked to install a Rectangular Rapid Flashing Beacon (RRFB) at the intersection of 12th Street and Duff Avenue. Mr. Pregitzer displayed a map showing the existing conditions of the area. The segment of Duff Avenue from 10th Street to 13th Street is a five-lane arterial street with a two-way center left- turn lane that sees approximately 11,000 vehicles per day. The intersections at 11th Street and 13th Street are fully signalized intersections. The speed limit along this section of Duff Avenue is posted at 30 mph. At 12th Street, the improvements include a RRFB on the north side of the intersection, and in 2019; the City added high-visibility crosswalk markings and advanced warning signage. Mr. Pregitzer noted that this intersection is one of the more complicated areas in town. It was explained that staff did not do a study with actual engineering level radar detection, but used a program called Streetlight to look at the historical trends of speed throughout the corridor. This program gathers and analyzes anonymized mobile device data to report traffic patterns. Mr. Pregitzer explained that his take from the data is that it is somewhat concerning that it is trending up, but when looking at the hourly data, it is related to congestion. The less congested the corridor the more the average speed goes up. There was a big change from 2020 to 2021 due to COVID as more people were working 7 from home and not driving daily. He noted he didn’t provide all the data sets available, but at peak hours, the speed does go down. Mr. Pregitzer commented that there is some concern about the speed and what is trending, and they need to keep an eye on the area as things start getting back to normal. Mr. Pregitzer went over the Options available to the Council. The first option, which was to install a Hybrid Beacon with a partial closure of 12th Street. This option was a more pedestrian-focused design. The concept included a Pedestrian Hybrid Beacon that would stop north-south traffic along Duff Avenue, giving clear right-of-way to pedestrians. However, because of how the hybrid beacon works, it should not be placed at locations where there are higher traffic volumes from the side street. Therefore, the concept included a partial closure of the intersection (12th Street) and the southern drive into McFarland’s parking lot. This would limit vehicle traffic into the intersection, primarily any conflicting turning movements across the crosswalk area. The hybrid beacon would also stop traffic for ambulances leaving Mary Greeley Medical Center. Knowing that this option could be unpopular, staff proactively sent out a letter with the conceptual drawing to all the properties fronting Duff and Carroll Avenues from 13th Street to 11th Street, asking for feedback. It was noted that the feedback received was overwhelmingly negative to this concept. The second option was to maintain the existing conditions and to continue to monitor safety. Mr. Pregitzer commented that it is very important to recognize that when a pedestrian gets hit, it is an appropriate response to look at the data and address the issue; however, to only have one pedestrian struck in eight-and-a-half years and three crashes that caused property damage only are low amounts. It should be noted that the use of the RRFB at an intersection such as the one currently in place would not likely be recommended today using current best practices. An ideal use for the treatment is a single-lane approach with a refuge median; an example of this installation type was the South Dakota Avenue north of the hospice house. Under Option 2, staff would work with McFarland Clinic staff to monitor safety and speed through the corridor. Public Works staff had already requested that the Police Department conduct periodic speed enforcement in the corridor from around 10th Street to 13th Street. Option 3 was to remove the RRFB and let the pedestrians use the 11th or 13th Street signals. In this option, if the existing RRFB is thought to give pedestrians a false sense of security, it should be removed to avoid encouraging crossing at a location not designed for that pedestrian movement. Mr. Pregitzer pointed out that from a data perspective, one crash in eight-in-a-half years is relatively low, but pedestrian crashes involving inattentive drivers are very random and hard to predict. These types of accidents are hard to solve with an engineering solution that would affect distracted drivers. He noted that for him to affect a driver’s attention he would have to have a very extreme restriction, which is what Option 1 was. In the feedback from McFarland Clinic and some of the residents it was mentioned to signalize 12th Street, and to do a traffic signal at that location it would require a study. A one-eighth mile is the absolute minimum for adding signals. In areas where there is low pedestrian volume, it is not recommended. Council Member Beatty-Hansen mentioned the last two bulleted items in the Staff Report that McFarland Clinic requested were to review options to lower the speed down to 25 MPH in the Hospital/Medical Zone and install flashing speed indicators (Dynamic Feedback Signs) similar to what is installed south of 9th Street on Duff Avenue. She wanted to know why those two options 8 were not part of Staff’s recommendations. Mr. Pregitzer explained, that from the Streetlight, data it appears that average speed is around 25-26 mph where the speed limit is 30 mph. He felt that if the speed was lowered to 25, there would still be some speeding that could be handled with Dynamic Feedback Signs, but he would want to verify with actual counters first. It was confirmed that one of the options could be to do a speed study to look at the feasibility of dropping the speed limit in the Hospital/Medical Zone to 25 mph from 13th Street to 10th Street. Council Member Martin mentioned that the original letter from McFarland had included the recommendation of adding additional lights, but he didn’t see this option addressed in the Staff Report. Mr. Pregitzer stated that the idea would be to give advanced warning. He drove the corridor several times and noted that all pedestrians pushed the button to signal the RRFB. An example was given that if someone was speeding at 40 mph the stopping sight distance would determine that a beacon would need to be installed 250 feet down the road. The current flashing lights can already be seen within 250 feet. If adding an advanced flasher, you would see that flasher and then the RRFB and it would confuse the drivers as to what they are supposed to be doing and what flashing light would they need to stop at. Council Member Betcher stated she had a few questions related to the Complete Streets Plan. She said that from her understanding, the City is creating areas of priority (pedestrian, car, biking, transport), and wanted to know how Mr. Pregitzer would define this area. Mr. Pregitzer stated it would either be an Avenue or Mixed-Use Avenue in the Complete Street Plan which had the most dynamic range of improvements that could be done. Ms. Betcher commented that the Council did get an email about adding a bicycle lane and putting this area on a road diet, and she noted that this would be something to consider further down the road due to the cost and intricacies of the whole project. Mr. Pregitzer couldn’t recall the last time they reconstructed this area, but 13th Street to 10th Street would be an area of interest. It would be a very expensive project to redo the arterial street. Ms. Betcher asked if the current location is the appropriate location for a pedestrian crossing or if there was somewhere better. Mr. Pregitzer explained that it is hard to say, but it seemed like it was. Council Member Martin mentioned that when reading through the materials it seemed as if the pedestrians were primarily employees going back and forth between different parts of the medial campus. He wanted to know if there had been any discussion about a pedestrian bridge being put up for the employees. Mr. Pregitzer stated they have not had that type of discussion as staff has not identified who the people are who are crossing the crosswalk, but it seems as if it is mainly employees. Mr. Martin commented that the pedestrian bridge would be conceivable except for the cost. It was agreed that it was a possibility. Mayor Haila wanted to know if it was possible to integrate a solid red light for people going westbound on 12th Street. Mr. Pregitzer mentioned there was a project that was identified in the Long-Range Plan in the bike/pedestrian portion to have Clark be a parallel corridor to Grand Avenue and one of the improvements was the crossing of 13th Street. When working with the Iowa Department of Transportation, they did a trial installation in Cedar Rapids. Staff had reached out to the Traffic Engineer in Cedar Rapids to see how it went and the City of Ames will be following their 9 lead. There will be Dynamic “Do Not Enter” signs and additional signs will be lit. There would be some risks, but he felt that 13th Street and Clark Avenue would be a good area to test the Hybrid Beacon. It was asked if a flashing speed sign was something that has proven to help. Mr. Pregitzer stated the data shows that some locations work better than others. Mayor Haila opened public comment. Grant Olsen, 3812 Ontario Street, Ames, stated that he lives in the area that has a Dynamic Feedback Sign. He noted that while the sign gives the driver information that they are speeding it only helps if the driver cares. Mr. Olsen explained that what the City needs is self-enforcing infrastructure; something as simple as a raised crosswalk. He explained that on the ISU campus near the main business building there is a raised crosswalk. This means the pedestrian does not need to change elevation from one sidewalk to the other, but the cars need to slow down if they don’t want to incur any damages to their vehicle. Mr. Olsen wondered what the McFarland employee who was hit by a 3,000 lb. vehicle would say. He went over the options listed in the Staff Report and felt that Option 1 would be the best fit for the City. Public comment was closed when no one else came forward to speak. Council Member Gartin noted that he drives this route every day and to only have one pedestrian hit in eight-and-a-half years is a good record. He suggested continuing with what the City already has. Mr. Gartin commented that a single accident, while unfortunate, shouldn’t drive the decisions for change by the Council. Council Member Betcher wanted to know if the Council agreed to go with Option 2 and not do anything at this time. Whether there still be the possibility of adding additional signage. The current signage is a sign letting the pedestrian know how to use the RRFB, but they could add a sign reminding pedestrians to not proceed until they can clearly see that traffic has slowed or stopped. Ms. Betcher felt that adding additional signs would be helpful until they can look at the area in a Complete Streets fashion. Council Member Beatty-Hansen stated she would recommend leaving things as is, but would be interested in doing a speed study to see if the speed should be reduced in this area. She mentioned that the option of closing off 12th Street was clearly disliked by the neighbors and facilities. Council Member Martin stated there is a leading pedestrian indicator that is deployed at Welch Avenue and Lincoln Way, and his personal observation was that the pedestrian indicator makes a difference. He asked if this was already set up in the area. Mr. Pregitzer explained that all the controllers are modern enough to implement pedestrian intervals. It was noted that this could be changed without Council direction. Mr. Martin wanted to know if there was any reason to not explore that option of walking a block to either 11th Street or 13th Street. Mr. Pregitzer mentioned that the only risk would be to re-time some signals. 10 Council Member Corrieri explained that she drives this corridor every day. She doesn’t believe the compliance is high as the City thinks it is for vehicles stopping for the flashing beacon. She wanted to know if a speed study would also gather data on vehicle compliance. Mr. Pregitzer stated it would not. This very difficult to capture, as an observer would need to be out there all day counting and making a judgment call if a vehicle did in fact yield to a pedestrian. Moved by Gartin, seconded by Junck, to approve Option 2, which was to maintain the existing conditions and to monitor safety. Council Member Corrieri asked what kind of police enforcement was currently being done and if it was possible to get a report back from the police to see what they are seeing before doing a speed study. Ms. Beatty-Hansen explained that her impression with police enforcement was that the situation would improve while they were in the area, but when their presence is no longer as active, it would go back to the way it was. Vote on Motion: 5-1. Voting Aye: Betcher, Corrieri, Gartin, Junck, Martin. Voting Nay: Beatty- Hansen. Motion declared carried. Moved by Beatty-Hansen, seconded by Corrieri, to direct staff to do a speed study at the 12th Street and Duff Avenue intersection to see if a 25-mph speed would be feasible in this Hospital/Medical zone. Council Member Betcher wanted to know how much of staff’s time it would take and the cost of a speed study. Mr. Pregitzer stated it would take staff a couple of weeks to do the study, and if found that the intersection needed a dynamic feedback sign, it would cost about $8,000 and changing the signs in the area would cost $50 each. Mr. Martin asked if the dynamic feedback sign could be installed without changing the speed limit. Mr. Pregitzer explained that it could be added with the current 30-mph speed limit. Council Member Gartin mentioned that if there was a corridor that has solid safety concerns, he would be on board to try and figure out what is happening; however, at this intersection there is ample data that it is a safe area. Ms. Beatty-Hansen explained that at congested times traffic already moves at 25-mph and it would not be that big of a change to lower the speed limit from 30-mph to 25-mph. Vote on Motion: 5-1. Voting Aye: Beatty-Hansen, Betcher, Corrieri, Junck, Martin. Voting Nay: Gartin. Motion declared carried. Moved by Betcher to put enhanced pedestrian signage at the site of the beacon to encourage the pedestrians to watch more carefully. Motion died due to lack of second. 11 MOTION AUTHORIZING STAFF TO SOLICIT AND ENGAGE PROFESSIONAL ENGINEERING SERVICES FOR A SIDEWALK/PATH INFILL ASSESSMENT PROJECT AT 1305 DICKINSON AVENUE, 4535 MORTENSEN ROAD, AND/OR 4515 MORTENSEN ROAD FOR MORTENSEN ROAD SIDEWALK INFILL PROJECT IF INSTALLATION HAS NOT BEEN COMPLETED BY THE PROPERTY OWNERS ON OR BEFORE JULY 23, 2021: Public Works Director John Joiner noted there was not any new information other than what was in the Council Action Form. He noted that one of the property owners was planning to start construction this week and another property owner is scheduled to start in the next couple of weeks. Director Joiner explained that Alternative 1 is to authorize staff to solicit proposals and engage in professional services and would be in the price range from a Purchasing Policy standpoint that staff would be able to approve a contract. This way if the property owners do not follow through on commencing construction then staff could move forward with the first step of the assessment project without having to come back to the Council. Council Member Gartin asked for a brief history on the City’s efforts to try and engage the property owners to put the sidewalks in place. Director Joiner explained that staff followed the standard procedures. There are gaps in the infrastructure in the area because sidewalks are typically installed with development and the lots in question have remained vacant. Staff had reached out to the property owners in the past years to see if they would be willing to put in sidewalks in advance of the development and the feedback received was that development was imminent on one or more of the lots and asked for time. The developments have yet to come to fruition and there are still no applications on file to develop the lots; however, staff was told that construction will start in the next couple of weeks. Mr. Gartin stated that they have waited a long time to have the infill done, and there is a large number of people who live in the apartments along Mortensen, and when the weather is bad those people are forced to walk in the street. Council Member Martin wanted to clarify that if the City constructs the sidewalks the property owners would still be responsible for clearing the sidewalks in the winter. Mr. Joiner confirmed that was correct. Moved by Corrieri, seconded by Beatty-Hansen, to authorize staff to solicit proposals and engage professional engineering services for a sidewalk/path infill assessment project at 1305 Dickinson Avenue, 4535 Mortensen Road, and/or 4515 Mortensen Road, if the property owners have not commenced installation work on or before July 23, 2021. Vote on Motion: 6-0. Motion declared carried unanimously. STAFF REPORT ON STATUS OF REINVESTMENT DISTRICT PROJECTS: City Manager Steve Schainker explained that the City Council had authorized staff to apply for $21,527,983 in incentive funding through the Iowa Reinvestment District Program. It was hoped that these monies, combined with $10 million from private donations, would cover the construction of a new indoor Aquatic Center. On June 25, 2021, the Iowa Economic Development Authority approved provisional funding grants to a number of cities. The City of Ames was one of the approved applicants; however, the City was not approved for the full amount, but $10 million. It should be emphasized that the 12 funding is considered provisional because the application was based on concepts as there was not a lot of time to solidify Agreements with developers and have actual construction costs. The State has given all applications until February 25, 2022, to submit their final applications, which will reflect the final design plans and expenditure/revenue projections for the projects. Given the $11,527,983 reduction in Reinvestment District funding, the gap that will require property taxpayer support is now estimated to be $7,494,000. Mr. Schainker noted that Dan Culhane has received over $9 million in private donations. Mr. Schainker mentioned that the City Council has three principal options to finance the project. It was noted that under Options 1 and 2, the City would issue $17,494,000 in General Obligation debt; however, it is anticipated that the net impact to taxpayers would be $7,494,000, after accounting for the $10 million of Reinvestment District funding. Option 1 would be to issue General Obligation (G.O.) bonds under the Urban Renewal law. The Urban Renewal law allows a City to issue bonds without a vote and would be subject to a Reverse Referendum. A referendum can be required if the Council receives a valid petition requesting a vote. The petition must contain signatures equaling at least 10% (3,189) of the number who voted in the last regular election. Option 2 would be to have a Referendum Election. The City Council can decide to bring forward a public referendum to authorize $17,494,000 in G.O. Bonds. This referendum would require 60% approval from voters. State law allows a vote at a Special Election on September 14, 2021, or March 1, 2022, or at the General Election on November 2, 2021. Mr. Schainker noted if the Council wanted to go for an election it takes a substantial amount of time to educate the public. If wanting to go for the Special Election on September 14, 2021, it would not be enough time to educate the public. In order to place this issue before the voters, a Council Resolution must be submitted to the Story County Auditor at least 46 days in advance of the election. He noted that the soonest the City could have this option would be the November election. The Special Election on March 1, 2022, would not work as the updated application has to be submitted to the State by February 25, 2022. Option 3 was to offer a Hybrid Urban Renewal and Referendum Election. Under this option, the Council would separately approve $10 million in Essential Corporate Purpose G.O. bonds within the Urban Renewal Area (subject to a reverse referendum) and authorize a $7,494,000 G.O. Bond Referendum Election. Mr. Schainker noted that Option 3 would be very complex and possibly hard for citizens to understand. With any of the three options, the City Council could reduce the amount needed to be financed by the taxpayers by eliminating the second floor of the Aquatics Center, which is intended to house the walking track and exercise area. The approach would reduce the gap from $7,494,000 to $2,805,000. Mr. Schainker commented that staff is not advocating to eliminate the second floor, but that is an option. Mr. Schainker gave a financial breakdown of the Aquatic Center. There were two assumptions given to the Council. The first assumption was that the City does not utilize any of the Reinvestment District Funding. It was pointed out that the financial numbers shown were the current estimate and those numbers could change at any time depending on interest rates and construction costs. He explained that the estimated cost of the Aquatics Center would be $27,494,000, and the estimated cost of the principal and interest payment would be $1,096,037. That amount would bring the estimated Annual Property Tax Cost for residential properties to $18.51 per $100,000 of assessed 13 valuation. This would cause a $0.33 increase in the debt levy. After the projected revenues are taken out, the City anticipates a $400,000 subsidy for operating costs. This would create an estimated annual property tax cost for residential properties for the operating expenditure to be $6.92 per $100,000 of assessed valuation. The overall combined increase would be $25.43. Assumption 2 assumes that the City is going to take advantage of the $10 million. The estimated cost of the Aquatic Center and Estimated Annual Debt Service Payments would not change, but it would bring the estimated annual amount applied to Property Tax Levy down to $596,037. With Assumption 2 the estimated annual property tax cost for residential properties would be $10.07 per $100,000 of assessed valuation, which would cause a $0.18 increase in the debt levy. The $400,000 deficit would stay the same. The overall combined increase would be $16.99. Mr. Schainker noted that all the estimated numbers were based on residential properties only as he did not figure out any commercial or industrial properties. Council Member Beatty-Hansen asked if it be possible for the City to receive more money in February if another community was not ready would. Mr. Schainker noted that would be possible. Parks and Recreation Director Keith Abraham spoke with representatives at RDG about changes in construction costs. RDG has reviewed its recent projects to determine how much cost estimates have changed recently. They also contacted Stoecker and Harmsen who does cost estimating and Water’s Edge who does aquatic estimating. It was discussed that they are currently experiencing supply issues, material shortages, labor shortages, and higher-than-normal projected costs. There were also concerns about how the National Infrastructure Bill, if passed, could impact the supply of certain materials. Additionally, if design for the Aquatics Center were to start after the Reinvestment District Program final application is due on February 25, 2022, construction would not start until spring 2023. Therefore, cost estimates would need to be looked at in 2023 dollars. RDG is estimating costs to be 10-15% higher than the original 8% that was figured into the original estimate. This overall increase at 10% would be an additional $2.5 million or if 15% a $3.7 million increase in the project. Director Abraham noted that these are all estimates. When moving forward, it was recommended by RDG to get together with Stoecker and Harmsen to do a more in-depth look at costs. Mr. Schainker pointed out that there is still a lot of work to do. The other issue will be the availability of the site for the Aquatic Center. Director Abraham explained that the Department of Transportation (DOT) is currently in year one of a four-year major renovation project that involves vacating the North Annex (property for the proposed Aquatic Center). Adding in other DOT projects, it was very difficult to give a specific timeline to when the site would be available. However, the DOT is very willing to meet with City representatives to understand the needs of the City, share the needs of the DOT, and determine if something can be done to meet both parties’ needs related to the site. Mr. Abraham mentioned it may be possible for the City of Ames to start construction while the building is still there, but that is a conversation that needs to happen with the DOT. Mr. Schainker mentioned that he wanted the Council to understand the cash flow if the City is going to rely on the Reinvestment District money. He noted that the cash is not given upfront, but earned over time. The bonds must be issued upfront, incur the debt, pay the contractors and designers, and 14 then there may be a delay by the time the hotel or restaurants are built and start generating revenue back to the City. Finance Director Duane Pitcher stated that the City would have liked to get a larger award, but one thing a smaller award does is gives the City more certainty. Mr. Pitcher commented that it would be a couple years before the City would start seeing any significant revenue. The City consolidates cash and investments and can carry the cost of the early debt service with no impact on other funds. The Reinvestment District rules request that a separate fund be established for the Reinvestment District revenue; this fund could be allowed to carry a negative balance in the early years of the project and be charged with interest. GO bonds could be amortized with equal payments throughout the term and paid proportionally from the property tax levy and the Reinvestment District fund. In later years the reinvestment district revenue is expected to exceed the debt service amount and will cover the deficit. This is similar to how cities account for TIF debt; however, with TIF, the City can claim additional TIF funds to cover interest costs while the Reinvestment District revenue is fixed at the award amount. Mr. Schainker clarified that the money received from the State on the reinvestment is State money from hotel/motel revenues and sales tax. It was mentioned that it will not decrease the amount the City or schools receive from sales tax. Council Member Betcher asked if the numbers from RDG for the 10-15% overage for 2023 prices were just construction costs and not design costs. Mr. Abraham explained that he looked at the 10- 15% to be on top of the construction costs, but when the construction costs go up, the design fees and contingency all go up. Mr. Schainker mentioned that staff will work further on firming up the numbers. The Mayor inquired if the 10-15% was on top of the 8% already projected. Mr. Abraham confirmed it was. Mayor Haila asked if the Council gave RDG permission to start sooner on the design and bids could be taken in 2022, would there be a possibility to save some money. Director Abraham stated he did ask RDG, and if they wanted to use 2022 numbers, the bid would need to go out in late spring or early summer of 2022; this way the contractor would be able to lock in some prices. The design would take about eight months for the Aquatic Center, which would mean the design would need to be approved before the referendum even happened. Mr. Schainker mentioned that if that happened then the Finance Department would have to check with the State to see if the costs could be incurred before the project. Council Member Beatty-Hansen stated that, towards the end of the Staff Report, it noted that if the Council wanted to seek the referendum option, it would be good to start a public information campaign, but wanted to know if there was any value in doing a campaign if the Council decided to go with the Urban Renewal option. Mr. Schainker explained that they would do a public information campaign for whatever option the Council goes with as the City wants to be transparent. Lincoln Way Redevelopment Project (Clark to Kellogg): Mr. Schainker mentioned that the Lincoln Way project is an exciting project on its own, but they are not doing this just to finance the Aquatic Center. He noted that on June 28, 2021, City staff met with the property owner and his development team for an update about the project. The developer described an updated concept that would include some public parking located in a garage north of the tracks, in the Central Business District parking 15 lot behind Wells Fargo, with a pedestrian bridge connection to the south over the railroad tracks. While the final square footage has not been determined, along with a full-service hotel and conference meeting space, the developer is exploring more residential and office space than was included in previous concepts. A significant amount of work remains for the developer to complete a detailed concept and financing plans for staff to evaluate and then present to the Council. These plans and accompanying Development Agreement would need to be finalized by the end of 2021. Downtown Plaza: City Manager Schainker mentioned that the Downtown Plaza was placed into the project to show the local match. The Downtown Plaza is being 100% funded by the City. The project will be done regardless if there was no Lincoln Way project. Money was put into the General Fund to start a parking lot north of City Hall. The first step will be to repay the Department of Housing and Urban Development (HUD) for the appraised value of the property. Public Works staff had hired Bolton and Menk to design the new parking lot north of City Hall along 6th Street. It is currently planned that the project will be bid in September 2021, with construction anticipated in the spring of 2022. The current plan is for the plaza project to be bid in December 2021 with construction beginning in the summer of 2022. Staff plans to bring the recommendation to the Council to waive Purchasing Policies and Procedures and authorize the hiring of Confluence to design the new Downtown Plaza. The FY 2020/21 budget includes $3,925,000 for the design, installation of the parking to the west of Kellogg, the construction of the Plaza, and the commission for a signature art piece. The plaza concept includes three elements of public art, with one of them being an interactive piece of artwork. A separate Request for Quotations (RFQ) for the signature art sculpture will be done while working with a subcommittee from the Public Art Commission. Onondaga Properties (330 5th Street/412 Burnett): This project, which is under construction, was added to the Reinvestment District application to take advantage of the retail sales that were projected from the redevelopment of these properties into new retail/restaurant space. Council Member Corrieri stated she felt that the financing needs to be decided as soon as possible to give certainty to all the public. Ms. Corrieri asked if the Council was interested in providing direction at the next meeting. Ms. Corrieri noted that it was more of a philosophical question that will be presented to the Council. The Mayor wanted to know if there was enough time to get information out to the public to allow time for feedback in two weeks. The Council discussed that two weeks was a sufficient amount of time to notify the public as the public has already had a lot of input. Council Member Gartin asked what the gap would be between the current indoor pool closing and a new indoor pool to open. Director Abraham stated that the last day of operation of the current municipal pool would be February 28, 2022, and the best-case scenario to open a new pool would be the summer of 2024. Mr. Gartin wanted to know if staff would work with the Ames High School to continue swimming lessons during the interim period. Mr. Abraham stated they will work with the School District and Green Hills to see about continuing offering swim lessons and classes. 16 Moved by Corrieri, seconded by Betcher, to ask staff to put on the next Agenda a discussion of the financing options for the Aquatic Center. Vote on Motion: 6-0. Motion declared carried unanimously. The Mayor asked for public comment. It was closed when no one requested to speak. Mayor Haila recessed at 8:30 p.m. and reconvened at 8:39 p.m. AWARDING DOWNTOWN FACADE GRANT FOR IMPROVEMENTS AT 108 MAIN STREET, 209 AND 211 MAIN STREET, AND 301 MAIN STREET: City Planner Benjamin Campbell advised that there were three projects for four grants total. 108 Main Street: The first grant request was for a single-story facade at 108 Main Street, which most recently housed Cyclone Barber. The building is the easternmost in a series of seven shallow buildings at the east end of Main Street. Several of these buildings have already been awarded facade grants (110, 116, and 122). The applicant is proposing to continue with the unified design proposed for 122 Main Street, completed in 2013. The one difference will be that the door will remain recessed where it is. 209 & 211 Main Street: This application is for the two-story buildings at 209 and 211 Main Street. The applicant proposes to create a new unified facade on the ground level with a single entrance including a vestibule at the property line. The storefronts currently contain a hair and nail salon (Heroic Hair at 209) and a tattoo parlor (Heroic Ink at 211). The applicant also proposes to restore the window openings on the second story of 211 Main Street. 301 Main Street: This application is for a replacement canopy and sign for the Sheldon-Munn apartment building at 301 Main Street. The new canopy would replace the existing one on the Kellogg Avenue facade with a historically appropriate design emulating the art deco canopy found in photographs from the period of significance for the Historic District. The storefront north of the entrance to the apartment lobby was recently converted to a cocktail lounge called Noir. The proposed canopy intends to incorporate a sign for Noir. The owners of the Sheldon-Munn and Noir anticipate expanding to the basement, which can be accessed from the current apartment entrance on Kellogg Avenue. The canopies would be eligible for a grant, but the signage and lettering are viewed as a temporary improvement and not eligible for a grant. Mr. Campbell explained that the total requested funding exceeds available funding. Staff found that the facade projects for 108, 209, and 211 Main Street are compliant with the design guidelines, visually significant, and priorities due to their location on Main Street and should be awarded the full funding. The project at 301 Main Street for a replacement canopy has minimal visual significance; however, the proposed sign is clearly more striking, but not an eligible project. Staff pointed out that the materials indicated for the Sheldon-Munn project were not materials that were in-line with what it was originally was, and the applicant has not indicated detailed materials to ensure the design intent will be met as depicted and conform to guideline definitions. 17 Council Member Betcher asked if staff knew what the fabric of the new canopy would be. Mr. Campbell commented that the applicant indicated that they would be using wood and pvc; staff is not opposed to the design, but more historically appropriate material should be used. Council Member Gartin asked what the total cost would be if the Council wanted to fully fund the Sheldon-Munn project. Mr. Campbell explained that the maximum amount that could be granted is $15,000 per project and $1,000 in design fees. Planning and Housing Director Kelly Diekmann stated that there are a couple of layers to the request for Sheldon-Munn. There was not an actual budget for just the canopy; what was submitted was for more work than what was eligible. Mr. Diekmann explained that the Sheldon-Munn had been given previous grants. He explained that the structure of the program was that first round awards are given in the summer or fall. This is a second- round award to a facade that had already previously received funding. Council Member Betcher asked if a canopy should technically be metal. Director Diekmann stated that the guidelines talk about awnings and canopies; awnings are fabric while canopies are metal. Moved by Corrieri, seconded by Martin, to adopt RESOLUTION NO. 21-400 approving the Downtown Facade Grants totaling up to $53,001 for: a.108 Main Street in the amount of estimated eligible costs up to $15,000 for a facade to match the existing facades already approved for the series of buildings b.209 & 211 Main Street in the amount of estimated eligible costs up to $31,000 for window replacement and a new, unified facade on the ground level. c.301 Main Street in the amount of estimated eligible costs up to $7,001 for a replacement canopy on Kellogg Avenue, subject to staff review and approval of materials for a metal canopy meeting the design guidelines and historic intent. Roll Call Vote: 6-0. Resolution declared carried unanimously, signed by the Mayor, and hereby made a portion of these Minutes. APPROVING RETURN OF $198,000 OF CITY FUNDING TO THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR THE CITY-OWNED PROPERTIES LOCATED AT 519, 525, AND 601 SIXTH STREET TO BE REPROGRAMMED FOR USE FOR THE INFRASTRUCTURE IMPROVEMENTS AT THE BAKER HOUSING SUBDIVISION ALONG STATE AVENUE: Housing Coordinator Vanessa Baker-Latimer mentioned that before the Council was an Agreement to sell the 6th Street properties back to the City of Ames for $198,000. Those funds will be returned to the Department of Housing and Urban Development (HUD) from the General Fund budget. These funds will then be reprogrammed for use on the infrastructure improvements for the Baker Housing Subdivision along State Avenue. Mayor Haila opened public input and closed it when no one came forward. Moved by Junck, seconded by Corrieri, to adopt RESOLUTION NO. 21-401 approving the return of $198,000 of City funding to the Department of Housing and Urban Development for the City-owned properties located at 519, 525, and 601 Sixth Street to be reprogrammed for use for the infrastructure improvements at the Baker Housing Subdivision along State Avenue. 18 Roll Call Vote: 6-0. Resolution declared carried unanimously, signed by the Mayor, and hereby made a portion of these Minutes. HEARING ON REZONING WITH MASTER PLAN OF 4514 AND 4605 HYDE AVENUE FROM AGRICULTURAL (A) TO SUBURBAN RESIDENTIAL LOW DENSITY (FS-RL): City Planner Eloise Sahlstrom stated that this item was a request to rezone the parcel at 4514 and 4605 Hyde Avenue as proposed as the Auburn Trail Subdivision. Annexation for the property at 4514 Hyde Avenue was approved in 2017, and the annexation for 4514 Hyde Avenue was approved in 2021. The two parcels total 75.17 acres. The owner is requesting a rezoning from Agricultural (A) to Suburban Residential Low Density (FS-RL), and this is a supported category under the Land Use Policy Plan which identifies the site as Village/Suburban Residential. She noted that there is a Master Plan associated with the property. The Master Plan identifies the planned approach meeting the requirements of the City’s Conservation Subdivision Ordinance that will apply to development of the property. In addition to identifying developable areas, the Master Plan shows approximately 22.58 acres, more than the required 25% of the property. The proposed Master Plan illustrates two categories of development: Single-Family Attached/Detached with 98 to 111 dwelling units and Single-Family Townhomes/Small Lots with 50 to 70 dwelling units, on approximately 36.29 acres. The applicant will likely apply for a Planned Unit Development (PUD) Overlay in the future. The property at 4605 Hyde was the subject of a Pre-Annexation Agreement in 2013. The owner entered into an Agreement with the City for, among other things, buyout of rural water rights and cost sharing of infrastructure. At the time of annexation, a 50-foot strip of property was required to remain along the north property line to connect to unincorporated land located to the north and east of the site. Staff recommends addressing planned off-site infrastructure extensions through the 50- foot strip with the rezoning of this site through a Contract Rezoning Agreement that includes the requirement for the property owner to extend infrastructure from the site through the abutting properties. This strip of land requires public improvements to connect to the future development to the north known as Hayden’s Preserve. The next step once the land is rezoned would be for the developer to continue to work towards submitting a Preliminary Plat. The Preliminary Plat will include more details. Ms. Sahlstrom noted that the primary access to the site would be from Hyde Avenue. Planning and Housing Director Kelly Diekmann stated there were some questions raised about the Master Plan and what it means. He stated that the Master Plan is an element of the Zoning Ordinance where staff asks for the developer to indicate its intent for the property. In this situation, the developer is asking for FS-RL zoning and is required to show the type of housing and open spaces. He noted that what is unique about this development is the Conservation Overlay that creates extra expectations in the later phases. Director Diekmann explained that there are buffer requirements, open space requirements, and percentage of lots for open spots requirements. The Master Plan gives the Council a good idea of what the developer would like to do. The Preliminary Plat will define more of the expectations as to how street layouts work and more details on how the areas will look. Tonight, if approved the Council is accepting, to some degree, that there will be detached single- 19 family homes on the south side of the site and versions of attached single-family homes and small lots on the north side. Mayor Haila mentioned that one concern was regarding traffic flow in Hayden’s Preserve. He wanted to know if this development is anticipating traffic flow coming from the north and getting onto Hyde Avenue. It looked like this would be the only option for people to get into this development and the one to the north, without going to 190th Street. Director Diekmann mentioned that when staff did the Haydens Preserve the average daily traffic that was calculated was under 1500. A lot of the traffic will go north and in preliminary meetings the Traffic Engineer has already outlined what the developer will need to access for turn lanes, and this will be addressed during the Preliminary Plat. The Traffic Engineer didn’t forecast any major traffic that would cause any major traffic congestion at the intersection with the spine road. Council Member Gartin stated that the letter from Dr. Pease was brought up and wanted to know if staff could address the questions in his letter. He noted that there were three questions from the letter and one of the questions was “the size of the proposed ponds and if they had adequate capacities.” Municipal Engineer Tracy Peterson explained that the Conservation Subdivision as well as the Post Construction Ordinance require the developer to detain back the water. The sizing and routing of the pond will depend on what area is passing through the flow, that is passing through. She noted that staff knows there will be off-site flow that will be passing through from the south or east; this will get passed through along with what is developed. It will then have the differential to hold back to not discharge at a higher rate. Ms. Peterson explained that the discharge will be longer as the flow has increased as it comes off the impervious area, but that is why the detention/retention basins are there. Mr. Gartin commented that the Council doesn’t need to worry about the accuracies tonight as those will come during the Preliminary Plat at a different meeting. The second question that came up was the sizing of the culverts. Ms. Peterson stated that when staff paved Hyde Avenue, they did have to enlarge the culvert under Hyde that was further to the north, she noted that this one did not warrant being upsized; however, there will be a detention facility in the corner with an outlet structure to hold it back. The third question was the size of the waterways and wanted to know if that question was similar to the retention ponds that the waterway sizing will be based upon the hydrologic studies. Ms. Peterson confirmed that was correct and staff took into consideration the soils and infiltration rates as well as groundwater and surface water. Mr. Gartin commented that it is not just about the water quantity but also the water quality. The Mayor opened the public hearing. Jerri Neal, 916 Ridgewood Avenue, Ames, stated that as a bicyclist she was appreciative of the new trail connection, but was saddened that the trail wouldn’t be developed until a couple years after the first part of development. She commented that she supports the Friends of Ada Hayden Heritage Park and is appreciative of the guidance from Dr. Pease. Ms. Neal explained that she understands the concept of the Master Plan, but it lacks conservation integrity. She felt that conversation integrity is tacked onto something that is already started rather than integrating it into the process. Ms. Neal stated that regarding climate change she wondered about this development and how water will be moving off the hard surfaces and will be concentrating in certain areas. She wondered if the 20 engineering evaluations of water detention and retention have accounted for not just historical patterns of rainfall, snowfall, and snow melting, but the projected increases in the frequency and intensity of rainfall events in the near-to-medium future. Ms. Neal would like to learn more about the area and get more information and would suggest the Council choose Option 3, which was to refer the item back to City staff and/or the applicant for more information. Diane McCauley, 4257 Eisenhower Lane, #10, Ames, stated that she is the Board President of the Association for the Townhome Association that is south of the east portion of the property. She had sent out the Staff Report to the Homeowners Association and had a couple comments on their behalf that she wanted to pass one. One of the biggest concerns was if there was adequate drainage and are the engineers looking at the impact of climate change. Ms. McCauley commented that there have been instances where water has pooled in the road (on the south side of the road by Hyde) and a couple years ago had overfilled and ended up filling basements with water. She mentioned that there is a stream that is behind her house and the stream is always full. A couple people in the complex noted that the Long-Range Plan talks about affordable housing and this development is not going to have those types of homes. Ms. McCauley noted that there is a speeding issue on Hyde Avenue. The additional traffic may slow down the traffic and this may help or hurt the area. She mentioned there was talk about a stop light going into Hyde Avenue. Director Diekmann mentioned that the original traffic study that allowed for the annexations to occur in 2013, will have each of the developers paying for a share that will go towards putting in a stop light. Ms. McCauley commented that she worked for ten years with the IDOT in rail safety and she didn’t like the fact that there were houses by the railroad tracks. She stated there needed to be some safety concerns built into the development. It was noted that the railroad tracks by this development are not highly used, but would still recommend having fences or something put in to make sure children don’t play on the tracks. Justin Dodge, 105 S. 16th Street, Ames, thanked staff for working through all the conceptual layouts, Master Plan, and rezoning. They are working on the Preliminary Plat and hoping to have it submitted as quickly as the engineers can get it together. It is their goal to start moving dirt this year. He explained that regarding the trail it is their intent that as soon as the first addition on the west side of Hyde they will incorporate and pave the trail right away. He noted that the two years in the Contract Rezoning Agreement matched the language used from Rose Prairie and they wanted to keep that consistent. Mr. Dodge mentioned that on the east side there is an existing house and they hope to create an additional lot that will be the first Final Plat. Mayor Haila asked if there was a trail planned from Hyde to Ada Hayden on the property on the east side of Hyde. Mr. Dodge stated they have been working through a connection with their conceptual layout with staff. Director Diekmann commented that staff is working through that possibility as there are some items that the Parks and Recreation Department would want. It is not shown on the Master Plan as the City can’t commit to the concept yet, but will be shown on the Preliminary Plat. Mayor Haila asked about the question regarding the projected rainfall due to climate change in terms of what the criteria is used for hydraulic engineering, and what does the City require. Ms. Peterson stated that periodically the standards are adjusted for rainfall; the last rainfall adjustments were made in 2014. She noted that is why there are buffers and the lowest opening must be three feet above the 100-year surface elevation. The Mayor asked about the pooling of water over the road and in 21 basements and if Ms. Peterson was aware of this problem. Ms. Peterson stated she would have to look back in the records and will have further conversations with Ms. McCauley. There were some adjustments made to the basin on the west side, but that was for erosion. The Mayor inquired about the question of rail safety. Director Diekmann stated that this is the first time that question has come up. The City does not have any specific fencing standards for residential properties along railroad corridors. Moved by Martin, seconded by Betcher, to adopt RESOLUTION NO. 21-402 approving the Zoning Change Agreement for the 75.17-acre property at 4605 and 4514 Hyde Avenue. Roll Call Vote: 6-0. Resolution declared carried unanimously, signed by the Mayor, and hereby made a portion of these Minutes. Moved by Betcher, seconded by Corrieri, to pass on first reading an ordinance rezoning with a Master Plan of 4514 and 4605 Hyde Avenue from Agricultural (A) to Suburban Residential Low Density (FS-RL). Vote on Motion: 6-0. Motion declared carried unanimously. The Mayor declared the public hearing closed. HEARING ON SLUDGE PUMPING BUILDING IMPROVEMENTS PROJECT: The Mayor opened the public hearing. There was no one wishing to speak, and the hearing was closed. Moved by Beatty-Hansen, seconded by Betcher, to adopt RESOLUTION NO. 21-403 approving the final plans and specifications and awarding a contract to Woodruff Construction, Inc., of Ames, Iowa, in the amount of $369,700. Roll Call Vote: 6-0. Resolution declared carried unanimously, signed by the Mayor, and hereby made a portion of these Minutes. DISPOSITION OF COMMUNICATIONS TO COUNCIL: The Mayor mentioned there were two items to review. The first item was a letter from Jodi Stumbo, Executive Director of The Bridge Home providing data that highlighted the demographic of families that are served at The Bridge Home. The data was in response to the Planning and Housing Departments 2021/22 CDBG Proposed Annual Action Plan. It was for informational use only and no direction was taken. The second item was a letter from Kim Frey, Executive Director of Ames Main Street requesting the City’s support in moving forward with a permitting process for overnight parking. Mr. Schainker noted that staff has met previously with Ames Main Street on the issue and recommended referring the letter to staff. Moved by Martin, seconded by Betcher, to refer the letter from Kim Frey, Executive Director of Ames Main Street requesting the City’s support in moving forward with a permitting process for overnight parking to staff for memo. Vote on Motion: 6-0. Motion declared carried unanimously. 22 COUNCIL COMMENTS: Moved by Gartin, seconded by Beatty-Hansen, to ask staff to examine if there would be any important traffic measures that could be considered for the intersection of Hyde and 190th, both temporary and long-term, and to include Story County in the discussion and look at short-term measures that could be put in place before school starts. Mr. Schainker stated the first step would be to look at accelerating the study. Staff would have to report back on what project would get pushed back. After the study is done, staff will need to come up with options for Capital Improvements and financing. He mentioned that the City would have to wait three years for federal funding, but if the City wants to move forward sooner, the City would have to find funding. Mayor Haila commented that there would also be the option to look at temporary measures to add stop signs or something in the area. City staff would need to meet with the Story County Engineer and collaborate on the intersection. Vote on Motion: 6-0. Motion declared carried unanimously. Council Member Betcher stated the Ames Human Relations Commission (AHRC) spoke earlier tonight about expanding its engagement with the community and that fits in with what she and Mr. Schainker have been working on with the class from Community and Regional Planning. She is hoping to find a way to use that class as a partner with AHRC. ADJOURNMENT: Moved by Betcher to adjourn the meeting at 9:43 p.m. ______________________________________________________________________ Amy L. Colwell, Deputy City Clerk John A. Haila, Mayor __________________________________ Diane R. Voss, City Clerk 23 MINUTES OF THE SPECIAL MEETING OF THE AMES CITY COUNCIL AMES, IOWA JULY 22, 2021 The Special Meeting of the Ames City Council was called to order by Mayor John Haila at 9:00 a.m. on the 22nd day of July, 2021. As it was impractical for the Mayor and Council Members to participate in the meeting in person, Mayor Haila and Council Members Gloria Betcher, Bronwyn Beatty-Hansen, Amber Corrieri, Tim Gartin, Rachel Junck, and David Martin were brought in via zoom. Ex officio Member Trevor Poundstone was absent. SUPPORT OF WORKFORCE HOUSING TAX CREDITS APPLICATION FOR RENOVATION OF BUILDING AT 330-5TH STREET/412 BURNETT AVENUE: City Manager Steve Schainker stated that the Ames Economic Development Commission (AEDC) has been working with the Nelson family regarding the renovation of their building at 330-5th Street/412 Burnett. The Nelson family has been doing a great job at refurbishing the building and plans on adding 18 apartments to the building. The addition of the apartments could be complex as the building might not carry the additional weight and more work will need to be done. The first preliminary estimates were received, and due to the bidding environment, the estimates were very costly. Council Member Corrieri joined the meeting at 9:02 a.m. The AEDC staff encouraged the owner to pursue the Workforce Housing Tax Credit incentive program administered by the Iowa Economic Development Authority. If approved, this incentive will rebate the State portion of the construction material and sales taxes as well as provide income tax credits to the owners. Mr. Schainker noted that today is the deadline for the application to be submitted and the Nelson family would need a statement of support from the City. The AEDC staff hoped that the City would commit to a ten-year sliding scale tax abatement under its Urban Revitalization program; however, under the City’s current Urban Revitalization Downtown Criteria, the ten-year abatement schedule is not available for this project. Mr. Schainker explained that with such short notice, these issues could not be resolved by today’s deadline. To move forward with the application the AEDC has committed to providing the $18,000 local match required by the State of Iowa. He mentioned that the City may have to pay the $18,000 upfront and then be reimbursed by the AEDC. Mr. Schainker stated that the application will not substantially affect the Reinvestment District Project. Mayor Haila asked for clarification regarding the reimbursement. It was explained that the local match had to come from the City of Ames, but the AEDC will reimburse the City for the $18,000. Mr. Schainker commented that he was not sure if the check had to come directly from the City of Ames or if the State would accept a check from the AEDC. Council Member Betcher clarified that with the reimbursement from the AEDC, it will not cost the City of Ames anything. Mr. Schainker confirmed that was correct and the Tax Credit money comes from the State. Moved by Martin, seconded by Corrieri, to adopt RESOLUTION NO. 21-404 supporting the Workforce Housing Tax Credits Application for renovation of the building located at 330-5th Street/412 Burnett Avenue. Roll Call Vote: 5-0-1. Voting Aye: Beatty-Hansen, Betcher, Corrieri, Junck, Martin. Voting Nay: None. Abstaining due to Conflict: Gartin. Resolution declared adopted, signed by the Mayor, and hereby made a portion of these Minutes. DISPOSITIONS OF COMMUNICATIONS TO COUNCIL: None. COUNCIL COMMENTS: None. ADJOURNMENT: Moved by Betcher to adjourn the meeting at 9:07 a.m. ______________________________________________________________________ Amy L. Colwell, Deputy City Clerk John A. Haila, Mayor __________________________________ Diane R. Voss, City Clerk 2 MINUTES OF THE REGULAR MEETING OF THE AMES CIVIL SERVICE COMMISSION AMES, IOWA JULY 22, 2021 The Regular Meeting of the Ames Civil Service Commission was called to order by Chairperson Mike Crum at 8:15 a.m. on July 22, 2021. As it was impractical for the Commission members to attend in person, Commission Chairperson Mike Crum and Commission Members Harold Pike and Kim Linduska were brought in telephonically. APPROVAL OF MINUTES OF JUNE 24, 2021: Moved by Pike, seconded by Linduska, to approve the Minutes of the June 24, 2021, Regular Civil Service Commission meeting. Vote on Motion: 3-0. Motion declared carried unanimously. CERTIFICATION OF ENTRY-LEVEL APPLICANTS: Moved by Crum, seconded by Linduska, to certify the following individuals to the Ames City Council as Entry-Level Applicants: Apprentice Substation Electrician Mark Weber 79 Jon Jensen 78 Nicholas Yetmar 78 Nicholas Ladewig 77 Electric Services Operations Superintendent Jeff Jones 75 Justin Muschick 71 Public Safety Dispatcher Brian Taylor 82 Kaitlyn Hoeft 75 Process Maintenance Worker Andrew Moses 84 Shaun Mcloud 84 Wade Eames 74 Vote on Motion: 3-0. Motion declared carried unanimously. REQUEST TO REMOVE NAMES FROM, AND EXHAUST, THE POLICE OFFICER CERTIFIED LIST: Human Resources Director Bethany Jorgenson explained that the Police Officer List was certified by the Commission on May 27, 2021, with 11 candidates. One candidate has been hired from that List, and one candidate is awaiting physical results to be hired. Human Resources is asking to remove the names of the remaining eight candidates from the List, who have declined Offers of Employment, had an Offer rescinded, or withdrawn from the process. Ms. Jorgensen noted that the removal of names from a Certified List, and subsequent exhausting that List, is permitted under Sections 4.2 and 4.5, respectively, of the Civil Service Commission Policies and Procedures. She stated that if the Commission approves the Department’s request to remove names from, and exhaust, the Police Officer Certified List, Human Resources will start a new recruitment for Police Officer. Commission Member Pike asked if the City seeks recruitment assistance from the Police Officer Academy. Ms. Jorgenson answered that the City does have a relationship with the Academy; however, not as a recruiting tool. The Academy sets the physical, written test, and training requirements for police officers. Mr. Pike further inquired how the word gets out that the City of Ames has openings. According to Ms. Jorgenson, the City advertises the openings nationwide. She also noted that there is a declining interest in becoming a member of law enforcement, not just in Ames, but in many cities; so fewer applications are being received. Moved by Linduska, seconded by Pike, to approve the request to remove names from, and exhaust, the Police Officer Certified List. Vote on Motion: 3-0. Motion declared carried unanimously. Item No. 3 COMMENTS: The next Regular Meeting of the Ames Civil Service Commission is scheduled for August 26, 2021, at 8:15 a.m. ADJOURNMENT: The meeting adjourned at 8:24 a.m. __________________________________ _______________________________________ Michael R. Crum, Chairperson Diane R. Voss, City Clerk 2 REPORT OF CONTRACT CHANGE ORDERS General Description Change Original Contract Total of Prior Amount this Change Contact Human Resources Haynie, Smith & Allbee, PC Pavement Improvements (Bloomington Rd) Improvements (East 8th Street) Improvements Program (Electrical Vault & Lighting Services Reconditioning and Repair Substation Services LLC (Maxima) Period: Item No. 4 Department General Description Change Original Contract Total of Prior Amount this Change Contact Electric Services Chemicals & Services for the Power Plant License Application (LE0002932) r \.. Applicant Name of Legal Entity : Kum & Go LC Name of Business(DBA): Kum & Go# 1215 Address of Premises : 4506 Lincoln Way City : Ames County : Story Zip : 50010 Business : (515) 457-6035 Mailing Address: 1459 Grand Ave City : Des Moines State : Iowa Zip : 50309 Contact Person Name : Jody Deiter Phone : (515) 457-6249 Email : licenses@kumandgo.com License Information License Number : LE0002932 License/Permit Type : Class E Liquor License Term : 12 Month Effective Date : 2021-08-28 Expiration Date : 2022-08-27 Sub-Permits/Privileges Item No. 5 I. r Status of Business Business Type : Limited Liability Company Ownership Charles Campbell City : Des Moines State: Iowa Zip: 50309 Position : Owner % of ownership : U.S. Citizen : Yes Krause Group LTD City : Des Moines State: Iowa Zip: 50309 Position : Owner % of ownership : 100 U.S. Citizen : Yes Tanner Krause City : Des Moines State: Iowa Zip: 50309 Position : Owner % of ownership : U.S. Citizen : Yes Erin Kuhl City : Des Moines State: Iowa Zip: 50309 ., '- Position : Owner % of ownership : U.S. Citizen : Yes Reed Rainey City : Des Moines State: Iowa Zip: 50309 Position : Owner % of ownership : U.S. Citizen : Yes Insurance Company Information ; License Application (LC0039334) Applicant Name of Legal Entity : Texas Roadhouse Holdings LLC Name of Business(DBA) : Texas Roadhouse Address of Premises: 519 South Duff Avenue City: Ames County : Story Zip: 50010 Business: (515) 232-7427 Mailing Address: 6040 Dutchmans Lane City : Louisville State : Kentucky Zip: 40205 Contact Person Name : Laura Young Phone : (502) 638-5469 Email : laura.young@texasroadhouse.com License Information License Number : LC0039334 License/Permit Type : Class C Liquor License Term : 12 Month Effective Date: 2021-07-02 Expiration Date: 2022-07-01 Sub-Permits/Privileges Item No. 6 r Status of Business Business Type : Limited Liability Company Ownership Texas Roadhouse, Inc. (Publicly Traded Company) City : Louisville State : Kentucky Zip: 40205 Position : Owner % of ownership : 100 U.S. Citizen: Yes Chris Jacobsen City : Anchorage State : Kentucky Zip: 40223 Position : Owner % of ownership : U.S. Citizen : Yes Tonya Robinson City : Shelbyville State : Kentucky Zip: 40065 Position : Owner % of ownership : U.S. Citizen : Yes Doug Thompson City : Louisville State : Kentucky Zip: 40222 ., '- Position : Owner % of ownership : U.S. Citizen : Yes Chris Colson City : Prospect State : Kentucky Zip: 40059 Position : Owner % of ownership : U.S. Citizen : Yes Gerald Morgan City : Sanger State : Texas Zip: 76266 Position : Owner % of ownership : U.S. Citizen : Yes Insurance Company Information Insurance Company : Twin City Fire Insurance Company Policy Effective Date : Policy Expiration : Bond Effective : Dram Cancel Date : Outdoor Service Effective : Outdoor Service Expiration : Temp Transfer Effective Date : Temp Transfer Expiration Date :     !"# ##$%!&' )##*)##++,, -./0123,,- 158,,39 ##:838;<8=>8,,,  &(()##++,8./- AB 8,,39C CD  :838;<8=>8,,, FGHI- #"K)L,,,398, #M*) N7O LP2L3+QHJ R% +,+3>,S><,)  % +,++>,S>+UV*) #M*)R  # Item No. 7          !" #$%  &''()*++ ,$ -+.+/01  23!34 5  67    !" #$%  &''()*++ ,$ -+.+/01  23!34 5 8 9   !" #$%  &''()*++ ,$ -+.+/01  23!34 5  $:       ! "# $# %& '()*+," -) ' .#/&) ,0!123 0!14 5612 3 03 76212 76214 8 8123 8 8143  Smart Choice 515.239.5133 non-emergency Administration fax To: Mayor John Haila and Ames City Council Members From: Lieutenant Heath Ropp, Ames Police Department Date: July 14, 2021 Subject: Beer Permits & Liquor License Renewal Reference City Council Agenda The Council agenda for July 27th, 2021 includes beer permits and liquor license renewals for: •Cyclone Experience Network (1800 S 4th St) - Class C Liquor License with Catering Privilege, Outdoor Service & Sunday Sales •Hy-Vee Market Grille (640 Lincoln Way) - Class C Liquor License with Class B Wine Permit & Sunday Sales •Fareway Meat Market #189 (3720 Lincoln Way) - Class E Liquor License with Class B Wine Permit and Class C Beer Permit (Carry Out) •Kum & Go #1215 (4506 Lincoln Way) - Class E Liquor License with Class B Wine Permit (Carryout Beer) and Sunday Sales A review of police records for the past 12 months found no liquor law violations for any of the above locations. The Ames Police Department recommends renewal of licenses for all the above businesses. Item No. 8 Smart Choice 515.239.5133 non-emergency Administration fax Ames, IA To: Mayor John Haila and Ames City Council Members From: Lieutenant Heath Ropp, Ames Police Department Date: July 14, 2021 Subject: Beer Permits & Liquor License Renewal Reference City Council Agenda The Council agenda for July 27th, 2021 includes beer permits and liquor license renewals for: • The Mucky Duck Pub (3100 S Duff Ave) - Class C Liquor License with Outdoor Service, Catering Privilege Class B Native Wine Permit, Outdoor Service & Sunday Sales A review of police records for the past 12 months found one liquor law violation for the above business. During a compliance check on April 22nd, 2021 an employee sold alcohol to a minor and was cited accordingly. A follow-up compliance check was completed, and no violations were recorded. • Es Tas Stanton (216 Stanton) - Class C Liquor License with Sunday Sales A review of police records for the past 12 months found one liquor law violation for the above business. During a compliance check on March 25th, 2021 an employee sold alcohol to a minor and was cited accordingly. A follow-up compliance check was completed, and no violations were recorded. • New Hickory Holding CO (1404 S Duff Ave) - Special Class C Liquor License with Sunday Sales A review of police records for the past 12 months found one liquor law violation for the above business. During a compliance check on April 22nd, 2021 an employee sold alcohol to a minor and was cited accordingly. A follow-up compliance check was completed, and no violations were recorded. • La Casa Maya (631 Lincoln Way) - Class C Liquor License with outdoor service and Sunday Sales A review of police records for the past 12 months found one liquor law violation for the above business. During a compliance check on April 22nd, 2021 an employee sold alcohol to a minor and was cited accordingly. A follow-up compliance check was completed, and no violations were recorded The Police Department will continue to monitor the above locations by conducting regular foot patrols, bar checks and by educating the bar staff through training and quarterly meetings. The Ames Police Department recommends license renewal for the above businesses. Caring People  Quality Programs  Exceptional Service 515.239.5119 main 515.239-5320 fax 515 Clark Ave. P.O. Box 811 City Treasurer MEMO To: Mayor and City Council From: Roger Wisecup, CPA Introduction The purpose of this memorandum is to present a report summarizing the performance of the City of Ames investment portfolio for the fiscal year ending June 30, 2021. Discussion This report covers the period ending June 30, 2021 and presents a summary of the investments on hand at the end of June 2021. The investments are valued at amortized cost; this reflects the same basis that the assets are carried on the financial records of the City. All investments are in compliance with the current Investment Policy. Comments The Federal Reserve maintained the federal fund rate at 0-0.25 percent in the last fiscal year. The yield curve is normal, making shorter maturities pay at a less rates than longer maturities. Future investments will be made at the lower interest rates and future interest income will decrease. We will continue to evaluate our current investment strategy, remaining flexible to future investments while the Federal Reserve evaluates the target rate. A brief comparison of fiscal year 2020 to fiscal year 2021 follows: FY20 FY21 Decrease Interest Income $3,601,397 $2,058,074 $1,543,323 Portfolio Effective Rate of Return 1.67% 0.87% 42.85% Item No. 9 BOOK MARKET UN-REALIZED DESCRIPTION VALUE VALUE GAIN/(LOSS) CERTIFICATES OF DEPOSIT 22,500,000 22,500,000 0 FEDERAL AGENCY DISCOUNTS 0 FEDERAL AGENCY SECURITIES 54,911,234 54,909,043 (2,191) COMMERCIAL PAPER 9,495,918 9,494,664 (1,254) MISC COUPON SECURITIES 0 PASS THRU SECURITIES PAC/CMO MONEY FUND SAVINGS ACCOUNTS 292,537 292,537 0 PASSBOOK/CHECKING ACCOUNTS 133,105 133,105 0 US TREASURY DISCOUNTS US TREASURY SECURITIES 72,325,578 72,690,810 365,232 INVESTMENTS 159,658,372 160,020,159 361,787 CASH ACCOUNTS 36,747,517 36,747,517 ACCRUAL BASIS INVESTMENT EARNINGS YR-TO-DATE GROSS EARNINGS ON INVESTMENTS:1,925,982 INTEREST EARNED ON CASH:132,092 AND THE ACCUMULATED YEAR-TO-DATE CITY OF AMES, IOWA CASH AND INVESTMENTS SUMMARY AND SUMMARY OF INVESTMENT EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 2021 YTM 365 Page 1 Par Value Book Value Maturity Date Stated RateMarket Value June 30, 2021 Portfolio Details - Investments Average BalanceIssuer Portfolio Management Investments FY 2020-2021 Days to Maturity YTM 360CUSIPInvestment # Purchase Date Certificates of Deposit 1.670Bankers Trust13487203 1,000,000.00 1,000,000.00 07/30/20211.67010/15/2019 1,000,000.00 1.64713487203 29 1.690First National Bank50941 1,000,000.00 1,000,000.00 08/13/20211.69010/16/2019 1,000,000.00 1.66750941 43 1.690First National Bank50942 1,500,000.00 1,500,000.00 12/15/20211.69010/16/2019 1,500,000.00 1.66750942 167 1.590First National Bank50972 1,000,000.00 1,000,000.00 07/30/20211.59011/21/2019 1,000,000.00 1.56850972 29 2.660Great Western Bank144303455 4,000,000.00 4,000,000.00 06/01/20222.66004/16/2019 4,000,000.00 2.624144303455 335 2.990US Bank433071659 6,000,000.00 6,000,000.00 06/01/20222.99005/24/2018 6,000,000.00 2.949433071659 335 1.710US Bank795014295 3,000,000.00 3,000,000.00 06/01/20221.71010/16/2019 3,000,000.00 1.687795014295 335 1.780US Bank795014296 5,000,000.00 5,000,000.00 06/01/20231.78010/16/2019 5,000,000.00 1.756795014296 700 22,500,000.00 2.19622,500,000.0022,500,000.0022,500,000.00Subtotal and Average 2.226 365 Money Market 0.300Great Western Bank4531558874 292,537.00 292,537.00 0.300292,537.00 0.296SYS4531558874B 1 292,537.00 0.296292,537.00292,537.00292,536.25Subtotal and Average 0.300 1 Passbook/Checking Accounts 0.150Wells Fargo6952311634B 133,105.06 133,105.06 0.150133,105.06 0.148SYS6952311634B 1 133,105.06 0.148133,105.06133,105.06133,104.68Subtotal and Average 0.150 1 Commercial Paper Disc. -Amortizing 0.166Chessman Bank0987-21A 1,000,000.00 999,257.78 12/15/20210.16005/24/2021 998,840.00 0.16316537LZF1 167 0.166Chessman Bank0987-21B 1,000,000.00 999,257.78 12/15/20210.16005/24/2021 998,840.00 0.16316537LZF1 167 0.166Chessman Bank0987-21C 1,000,000.00 999,257.78 12/15/20210.16005/24/2021 998,840.00 0.16316537LZF1 167 0.206Cheshman Commercial Paper0981-21 2,000,000.00 1,998,144.44 12/15/20210.20004/15/2021 1,998,144.00 0.20316536HZF1 167 0.237Lloyds Bank Co0948-20A 1,000,000.00 1,000,000.00 07/01/20210.23010/13/2020 1,000,000.00 0.23353948AU17 0 0.237Lloyds Bank Co0948-20B 1,000,000.00 1,000,000.00 07/01/20210.23010/13/2020 1,000,000.00 0.23353948AU17 0 0.237Lloyds Bank Co0948-20C 1,000,000.00 1,000,000.00 07/01/20210.23010/13/2020 1,000,000.00 0.23353948AU17 0 0.226Lloyds Bank Co0951-20 1,500,000.00 1,500,000.00 07/01/20210.22010/15/2020 1,500,000.00 0.22353948AU17 0 9,495,917.78 0.2039,494,664.009,500,000.009,495,152.50Subtotal and Average 0.206 88 Federal Agency Coupon Securities 0.600Farmer Mac0962-20 1,000,000.00 1,000,000.00 11/20/20250.60011/20/2020 989,035.00 0.59231422B3F5 1,603 1.455Federal Farm Credit0913-20 1,000,000.00 1,005,838.68 11/15/20213.05002/20/2020 1,011,090.00 1.4353133EJT74 137 1.470Federal Farm Credit0914-20 1,000,000.00 1,001,170.71 11/29/20211.76002/20/2020 1,006,947.00 1.4503133EGL60 151 1.458Federal Farm Credit0916-20 1,000,000.00 1,000,802.16 12/27/20211.62502/20/2020 1,007,602.00 1.4383133ELFR0 179 0.360Federal Farm Credit0930-20 1,500,000.00 1,501,393.94 01/18/20220.53004/15/2020 1,503,778.50 0.3553133ELTN4 201 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.5 YTM 365 Page 2 Par Value Book Value Maturity Date Stated RateMarket Value June 30, 2021 Portfolio Details - Investments Average BalanceIssuer Portfolio Management Investments FY 2020-2021 Days to Maturity YTM 360CUSIPInvestment # Purchase Date Federal Agency Coupon Securities 0.154Federal Farm Credit0952-20A 2,000,000.00 1,999,792.12 04/08/20220.14010/15/2020 2,000,020.00 0.1513133EMCJ9 281 0.154Federal Farm Credit0952-20B 3,000,000.00 2,999,688.18 04/08/20220.14010/15/2020 3,000,030.00 0.1513133EMCJ9 281 0.092Federal Farm Credit0974-21 1,500,000.00 1,501,302.98 10/13/20220.16002/12/2021 1,500,181.50 0.0913133EMDA7 469 0.341Federal Farm Credit0977-21A 1,000,000.00 998,634.21 11/12/20240.30003/02/2021 989,978.00 0.3363133EMQQ8 1,230 0.341Federal Farm Credit0977-21B 1,500,000.00 1,497,951.32 11/12/20240.30003/02/2021 1,484,967.00 0.3363133EMQQ8 1,230 1.856Federal Home Loan Bank0791-17 1,135,000.00 1,135,084.78 11/29/20211.87510/13/2017 1,143,421.70 1.8303130AABG2 151 1.604Federal Home Loan Bank0901-19 1,000,000.00 1,001,450.17 09/10/20212.37511/21/2019 1,004,463.00 1.582313378JP7 71 1.601Federal Home Loan Bank0905-19 1,500,000.00 1,506,645.08 12/10/20212.62511/21/2019 1,516,924.50 1.579313376C94 162 1.475Federal Home Loan Bank0915-20 1,000,000.00 1,004,991.18 12/10/20212.62502/20/2020 1,011,283.00 1.455313376C94 162 0.402Federal Home Loan Bank0931-20A 1,500,000.00 1,516,898.09 02/08/20222.28004/15/2020 1,519,978.50 0.397313376Y74 222 0.402Federal Home Loan Bank0931-20B 1,000,000.00 1,011,265.39 02/08/20222.28004/15/2020 1,013,319.00 0.397313376Y74 222 0.204Federal Home Loan Bank0935-20A 1,000,000.00 1,014,176.83 03/11/20222.25005/15/2020 1,015,018.00 0.201313378CR0 253 0.204Federal Home Loan Bank0935-20B 1,500,000.00 1,521,265.24 03/11/20222.25005/15/2020 1,522,527.00 0.201313378CR0 253 0.128Federal Home Loan Bank0944-20 1,500,000.00 1,499,992.67 09/10/20210.12509/17/2020 1,500,228.00 0.1263130AK5A0 71 0.134Federal Home Loan Bank0947-20 1,500,000.00 1,536,892.78 06/10/20222.75009/17/2020 1,537,170.00 0.1323130AEBM1 344 0.130Federal Home Loan Bank0949-20A 1,000,000.00 999,985.85 10/13/20210.12510/13/2020 1,000,186.00 0.1283130AKCB0 104 0.130Federal Home Loan Bank0949-20B 2,000,000.00 1,999,971.69 10/13/20210.12510/13/2020 2,000,372.00 0.1283130AKCB0 104 0.125Federal Home Loan Bank0956-20 1,500,000.00 1,500,000.00 10/19/20210.12510/20/2020 1,500,294.00 0.1233130AKD86 110 0.581Federal Home Loan Bank0975-21 1,000,000.00 996,793.20 02/17/20260.30002/22/2021 984,131.67 0.5733130AL4V3 1,692 0.943Federal Home Loan Bank0976-21 1,000,000.00 985,840.91 09/10/20260.30003/10/2021 983,202.00 0.9303130ALB86 1,897 0.841Federal Home Loan Bank0978-21 1,000,000.00 988,798.06 02/11/20260.58003/15/2021 986,439.78 0.8293130AKXB7 1,686 0.385Federal Home Loan Bank0979-21A 1,500,000.00 1,499,624.66 03/15/20240.37503/17/2021 1,496,825.75 0.3803130ALKS2 988 0.385Federal Home Loan Bank0979-21B 1,000,000.00 999,749.77 03/15/20240.37503/17/2021 997,883.83 0.3803130ALKS2 988 1.116Federal Home Loan Bank0980-21 2,650,000.00 2,647,209.70 04/14/20260.50004/14/2021 2,650,315.35 1.1013130ALVT8 1,748 0.450Federal Home Loan Bank0984-21A 1,500,000.00 1,500,093.75 07/15/20240.45004/20/2021 1,496,409.75 0.4443130ALTV6 1,110 0.450Federal Home Loan Bank0984-21B 1,000,000.00 1,000,062.50 07/15/20240.45004/20/2021 997,606.50 0.4443130ALTV6 1,110 0.458Federal Home Loan Bank0985-21A 1,500,000.00 1,499,719.62 07/26/20240.45004/30/2021 1,496,317.50 0.4523130ALVQ4 1,121 0.458Federal Home Loan Bank0985-21B 1,000,000.00 999,813.08 07/26/20240.45004/30/2021 997,545.00 0.4523130ALVQ4 1,121 1.440Federal Home Loan Mortgage Co.0917-20 1,000,000.00 1,004,899.83 01/13/20222.37502/20/2020 1,012,291.00 1.4203137EADB2 196 0.360Federal Home Loan Mortgage Co.0929-20A 1,500,000.00 1,516,050.96 01/13/20222.37504/15/2020 1,518,436.50 0.3553137EADB2 196 0.360Federal Home Loan Mortgage Co.0929-20B 1,000,000.00 1,010,700.64 01/13/20222.37504/15/2020 1,012,291.00 0.3553137EADB2 196 0.091Federal Home Loan Mortgage Co.0955-20 1,500,000.00 1,500,540.00 07/25/20220.12510/15/2020 1,499,980.50 0.0903137EAET2 389 0.360Federal Home Loan Mortgage Co.0960-20 1,000,000.00 1,000,000.00 05/15/20240.36011/20/2020 996,176.00 0.3553134GXBD5 1,049 0.350Federal Home Loan Mortgage Co.0961-20 1,000,000.00 1,000,000.00 03/29/20240.35011/20/2020 996,810.00 0.3453134GWXC5 1,002 0.240Federal Nat'l Mtg. Assoc.0927-20 1,500,000.00 1,501,931.14 08/17/20211.25004/15/2020 1,502,307.00 0.2373135G0N82 47 0.319Federal Nat'l Mtg. Assoc.0928-20 1,500,000.00 1,504,211.73 10/07/20211.37504/15/2020 1,505,260.50 0.3143135G0Q89 98 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PM2) 7.3.0 YTM 365 Page 3 Par Value Book Value Maturity Date Stated RateMarket Value June 30, 2021 Portfolio Details - Investments Average BalanceIssuer Portfolio Management Investments FY 2020-2021 Days to Maturity YTM 360CUSIPInvestment # Purchase Date 54,911,233.60 0.53854,909,043.3354,785,000.0056,672,461.99Subtotal and Average 0.546 582 Treasury Coupon Securities 2.963U.S. Treasury0835-18 2,500,000.00 2,476,564.50 05/31/20221.87510/15/2018 2,540,625.00 2.923912828XD7 334 2.964U.S. Treasury0836-18 2,500,000.00 2,473,855.70 05/31/20221.75010/15/2018 2,537,890.00 2.923912828XR6 334 2.459U.S. Treasury0860-19 3,000,000.00 2,954,748.23 05/31/20231.62503/08/2019 3,079,218.00 2.426912828R69 699 1.711U.S. Treasury0888-19 1,000,000.00 1,000,343.12 07/15/20212.62509/13/2019 1,000,938.00 1.688912828Y20 14 1.540U.S. Treasury0893-19 6,000,000.00 6,134,664.71 05/31/20232.75011/04/2019 6,287,814.00 1.5199128284S6 699 1.600U.S. Treasury0899-19 1,000,000.00 1,001,391.94 08/15/20212.75011/21/2019 1,003,281.00 1.5789128284W7 45 1.602U.S. Treasury0900-19 1,000,000.00 999,831.76 08/31/20211.50011/21/2019 1,002,344.00 1.580912828YC8 61 1.594U.S. Treasury0902-19 1,000,000.00 998,854.12 09/30/20211.12511/21/2019 1,002,656.00 1.572912828T34 91 1.600U.S. Treasury0903-19 1,000,000.00 1,003,627.52 10/15/20212.87511/21/2019 1,008,125.00 1.5789128285F3 106 1.586U.S. Treasury0904-19 1,500,000.00 1,507,108.35 11/15/20212.87511/21/2019 1,515,703.50 1.5649128285L0 137 1.441U.S. Treasury0918-20 1,000,000.00 1,004,095.85 10/15/20212.87502/20/2020 1,008,125.00 1.4219128285F3 106 0.160U.S. Treasury0934-20A 1,000,000.00 1,011,361.09 02/28/20221.87505/15/2020 1,011,875.00 0.158912828W55 242 0.160U.S. Treasury0934-20B 1,500,000.00 1,517,041.64 02/28/20221.87505/15/2020 1,517,812.50 0.158912828W55 242 0.175U.S. Treasury0937-20A 1,000,000.00 1,001,491.28 03/31/20220.37505/19/2020 1,002,188.00 0.173912828ZG8 273 0.175U.S. Treasury0937-20B 1,500,000.00 1,502,236.92 03/31/20220.37505/19/2020 1,503,282.00 0.173912828ZG8 273 0.133U.S. Treasury0946-20 1,500,000.00 1,502,713.62 03/31/20220.37509/17/2020 1,503,282.00 0.131912828ZG8 273 0.134U.S. Treasury0953-20 1,000,000.00 1,014,468.49 04/30/20221.87510/15/2020 1,014,844.00 0.132912828X47 303 0.134U.S. Treasury0954-20 1,500,000.00 1,525,165.65 07/15/20221.75010/15/2020 1,525,782.00 0.1329128287C8 379 0.146U.S. Treasury0957-20 1,500,000.00 1,499,732.02 04/30/20220.12511/16/2020 1,500,469.50 0.144912828ZM5 303 0.150U.S. Treasury0958-20 1,500,000.00 1,522,921.30 06/15/20221.75011/16/2020 1,523,671.50 0.1489128286Y1 349 0.156U.S. Treasury0959-20 1,500,000.00 1,522,628.04 08/15/20221.50011/16/2020 1,523,203.50 0.154912828YA2 410 0.105U.S. Treasury0963-20 1,000,000.00 1,014,708.62 04/30/20221.87512/08/2020 1,014,844.00 0.104912828X47 303 0.117U.S. Treasury0964-20 1,000,000.00 1,000,074.36 05/31/20220.12512/08/2020 1,000,313.00 0.115912828ZR4 334 0.120U.S. Treasury0965-20 1,000,000.00 1,015,579.01 06/15/20221.75012/08/2020 1,015,781.00 0.1189128286Y1 349 0.121U.S. Treasury0966-20 1,000,000.00 1,000,044.78 06/30/20220.12512/08/2020 1,000,313.00 0.119912828ZX1 364 0.091U.S. Treasury0967-20 1,000,000.00 1,017,242.20 07/15/20221.75012/15/2020 1,017,188.00 0.0909128287C8 379 0.100U.S. Treasury0968-20 1,000,000.00 1,000,266.44 07/31/20220.12512/15/2020 1,000,156.00 0.09991282CAC5 395 0.107U.S. Treasury0969-20 1,500,000.00 1,500,320.01 08/31/20220.12512/15/2020 1,500,000.00 0.10591282CAG6 426 0.104U.S. Treasury0970-20 1,500,000.00 1,525,233.27 09/15/20221.50012/15/2020 1,524,844.50 0.103912828YF1 441 0.080U.S. Treasury0971-21 1,000,000.00 1,017,385.79 08/15/20221.62502/12/2021 1,017,031.00 0.079912828TJ9 410 0.091U.S. Treasury0972-21 1,000,000.00 1,000,399.61 08/31/20220.12502/12/2021 1,000,000.00 0.08991282CAG6 426 0.091U.S. Treasury0973-21 1,500,000.00 1,500,632.27 09/30/20220.12502/12/2021 1,499,766.00 0.09091282CAN1 456 0.384U.S. Treasury0982-21 6,000,000.00 6,280,646.62 05/31/20242.00004/15/2021 6,270,000.00 0.379912828XT2 1,065 0.663U.S. Treasury0983-21 6,000,000.00 5,904,368.16 05/31/20250.25004/15/2021 5,898,750.00 0.654912828ZT0 1,430 0.360U.S. Treasury0986-21A 1,500,000.00 1,602,483.24 08/15/20242.37505/14/2021 1,596,785.22 0.355912828D56 1,141 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PM2) 7.3.0 YTM 365 Page 4 Par Value Book Value Maturity Date Stated RateMarket Value June 30, 2021 Portfolio Details - Investments Average BalanceIssuer Portfolio Management Investments FY 2020-2021 Days to Maturity YTM 360CUSIPInvestment # Purchase Date Treasury Coupon Securities 0.360U.S. Treasury0986-21B 1,000,000.00 1,068,322.16 08/15/20242.37505/14/2021 1,064,523.48 0.355912828D56 1,141 0.515U.S. Treasury0988-21 4,000,000.00 3,959,274.34 05/31/20250.25006/11/2021 3,932,800.55 0.508912828ZT0 1,430 0.275U.S. Treasury0989-21 3,000,000.00 3,151,924.11 05/31/20242.00006/11/2021 3,136,803.28 0.271912828XT2 1,065 0.460U.S. Treasury0990-21A 1,500,000.00 1,555,096.33 09/30/20241.50006/18/2021 1,552,669.06 0.454912828YH7 1,187 0.460U.S. Treasury0990-21B 1,000,000.00 1,036,730.88 09/30/20241.50006/18/2021 1,035,112.70 0.454912828YH7 1,187 72,325,578.05 0.79272,690,810.2971,500,000.0073,071,242.65Subtotal and Average 0.803 665 0.866162,164,498.07 158,710,642.06 0.878 558160,020,159.68 159,658,371.49Total and Average Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PM2) 7.3.0 Page 1 Par Value Stated Rate June 30, 2021 Investment Status Report - Investments Portfolio Management Book Value Maturity Date Current Principal Investments FY 2020-2021 YTM 365 YTM 360 Payment DatesCUSIPInvestment #Issuer Purchase Date Accrued Interest At Purchase Certificates of Deposit BT13487203 1,000,000.00 1,000,000.001.670 07/30/202113487203 07/30 - At Maturity10/15/2019 1,000,000.001.6701.647 FN50941 1,000,000.00 1,000,000.001.690 08/13/202150941 08/13 - At Maturity10/16/2019 1,000,000.001.6901.667 FN50942 1,500,000.00 1,500,000.001.690 12/15/202150942 12/15 - At Maturity10/16/2019 1,500,000.001.6901.667 FN50972 1,000,000.00 1,000,000.001.590 07/30/202150972 07/30 - At Maturity11/21/2019 1,000,000.001.5901.568 GWB144303455 4,000,000.00 4,000,000.002.660 06/01/2022144303455 06/01 - At Maturity04/16/2019 4,000,000.002.6602.624 USB433071659 6,000,000.00 6,000,000.002.990 06/01/2022433071659 06/01 - 12/0105/24/2018 6,000,000.002.9902.949 USB795014295 3,000,000.00 3,000,000.001.710 06/01/2022795014295 12/01 - 06/0110/16/2019 3,000,000.001.7101.687 USB795014296 5,000,000.00 5,000,000.001.780 06/01/2023795014296 12/01 - 06/0110/16/2019 5,000,000.001.7801.756 22,500,000.00Certificates of Deposit Totals 22,500,000.000.002.19622,500,000.00 2.226 Money Market GWB4531558874 292,537.00 292,537.000.300SYS4531558874B 08/01 - Monthly 292,537.000.3000.296 292,537.00Money Market Totals 292,537.000.000.296292,537.00 0.300 Passbook/Checking Accounts WF6952311634B 133,105.06 133,105.060.150SYS6952311634B 08/01 - Monthly 133,105.060.1500.148 133,105.06Passbook/Checking Accounts Totals 133,105.060.000.148133,105.06 0.150 Commercial Paper Disc. -Amortizing BSNCHB0987-21A 1,000,000.00 999,257.780.160 12/15/202116537LZF1 12/15 - At Maturity05/24/2021 999,088.890.1660.163 BSNCHB0987-21B 1,000,000.00 999,257.780.160 12/15/202116537LZF1 12/15 - At Maturity05/24/2021 999,088.890.1660.163 BSNCHB0987-21C 1,000,000.00 999,257.780.160 12/15/202116537LZF1 12/15 - At Maturity05/24/2021 999,088.890.1660.163 CHESHM0981-21 2,000,000.00 1,998,144.440.200 12/15/202116536HZF1 12/15 - At Maturity04/15/2021 1,997,288.880.2060.203 LBCMNY0948-20A 1,000,000.00 1,000,000.000.230 07/01/202153948AU17 07/01 - At Maturity10/13/2020 998,332.500.2370.233 LBCMNY0948-20B 1,000,000.00 1,000,000.000.230 07/01/202153948AU17 07/01 - At Maturity10/13/2020 998,332.500.2370.233 LBCMNY0948-20C 1,000,000.00 1,000,000.000.230 07/01/202153948AU17 07/01 - At Maturity10/13/2020 998,332.500.2370.233 LBCMNY0951-20 1,500,000.00 1,500,000.000.220 07/01/202153948AU17 07/01 - At Maturity10/15/2020 1,497,625.830.2260.223 9,495,917.78Commercial Paper Disc. -Amortizing Totals 9,487,178.880.000.2039,500,000.00 0.206 Federal Agency Coupon Securities FAMCA0962-20 1,000,000.00 1,000,000.000.600 11/20/202531422B3F5 05/20 - 11/2011/20/2020 1,000,000.000.6000.592 FFCB0913-20 1,000,000.00 1,005,838.683.050 11/15/20213133EJT74 05/15 - 11/15 Received02/20/2020 1,027,232.641.4551.435 FFCB0914-20 1,000,000.00 1,001,170.711.760 11/29/20213133EGL60 05/29 - 11/29 Received02/20/2020 1,005,054.611.4701.450 FFCB0916-20 1,000,000.00 1,000,802.161.625 12/27/20213133ELFR0 06/27 - 12/27 Received02/20/2020 1,003,040.001.4581.438 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PMS) 7.3.0 Report Ver. 7.3.5 Page 2 Par Value Stated Rate June 30, 2021 Investment Status Report - Investments Portfolio Management Book Value Maturity Date Current Principal Investments FY 2020-2021 YTM 365 YTM 360 Payment DatesCUSIPInvestment #Issuer Purchase Date Accrued Interest At Purchase Federal Agency Coupon Securities FFCB0930-20 1,500,000.00 1,501,393.940.530 01/18/20223133ELTN4 07/18 - 01/18 Received04/15/2020 1,504,479.000.3600.355 FFCB0952-20A 2,000,000.00 1,999,792.120.140 04/08/20223133EMCJ9 04/08 - 10/08 Received10/15/2020 1,999,600.000.1540.151 FFCB0952-20B 3,000,000.00 2,999,688.180.140 04/08/20223133EMCJ9 04/08 - 10/08 Received10/15/2020 2,999,400.000.1540.151 FFCB0974-21 1,500,000.00 1,501,302.980.160 10/13/20223133EMDA7 04/13 - 10/13 Received02/12/2021 1,501,695.000.0920.091 FFCB0977-21A 1,000,000.00 998,634.210.300 11/12/20243133EMQQ8 05/12 - 11/12 Received03/02/2021 998,500.000.3410.336 FFCB0977-21B 1,500,000.00 1,497,951.320.300 11/12/20243133EMQQ8 05/12 - 11/12 Received03/02/2021 1,497,750.000.3410.336 FHLB0791-17 1,135,000.00 1,135,084.781.875 11/29/20213130AABG2 11/29 - 05/29 Received10/13/2017 1,135,851.251.8561.830 FHLB0901-19 1,000,000.00 1,001,450.172.375 09/10/2021313378JP7 03/10 - 09/10 Received11/21/2019 1,013,640.001.6041.582 FHLB0905-19 1,500,000.00 1,506,645.082.625 12/10/2021313376C94 12/10 - 06/10 Received11/21/2019 1,530,885.001.6011.579 FHLB0915-20 1,000,000.00 1,004,991.182.625 12/10/2021313376C94 06/10 - 12/10 Received02/20/2020 1,020,404.191.4751.455 FHLB0931-20A 1,500,000.00 1,516,898.092.280 02/08/2022313376Y74 08/08 - 02/08 Received04/15/2020 1,550,850.000.4020.397 FHLB0931-20B 1,000,000.00 1,011,265.392.280 02/08/2022313376Y74 08/08 - 02/08 Received04/15/2020 1,033,900.000.4020.397 FHLB0935-20A 1,000,000.00 1,014,176.832.250 03/11/2022313378CR0 09/11 - 03/11 Received05/15/2020 1,037,200.000.2040.201 FHLB0935-20B 1,500,000.00 1,521,265.242.250 03/11/2022313378CR0 09/11 - 03/11 Received05/15/2020 1,555,800.000.2040.201 FHLB0944-20 1,500,000.00 1,499,992.670.125 09/10/20213130AK5A0 03/10 - 09/10 Received09/17/2020 1,499,962.500.1280.126 FHLB0947-20 1,500,000.00 1,536,892.782.750 06/10/20223130AEBM1 12/10 - 06/10 Received09/17/2020 1,567,800.000.1340.132 FHLB0949-20A 1,000,000.00 999,985.850.125 10/13/20213130AKCB0 04/13 - 10/1310/13/2020 999,950.050.1300.128 FHLB0949-20B 2,000,000.00 1,999,971.690.125 10/13/20213130AKCB0 04/13 - 10/1310/13/2020 1,999,900.100.1300.128 FHLB0956-20 1,500,000.00 1,500,000.000.125 10/19/20213130AKD86 04/19 - 10/19 Received10/20/2020 1,500,000.000.1250.123 FHLB0975-21 1,000,000.00 996,793.200.300 02/17/20263130AL4V3 08/17 - 02/17 41.6702/22/2021 996,500.000.5810.573 FHLB0976-21 1,000,000.00 985,840.910.300 09/10/20263130ALB86 09/10 - 03/1003/10/2021 985,000.000.9430.930 FHLB0978-21 1,000,000.00 988,798.060.580 02/11/20263130AKXB7 08/11 - 02/11 547.7803/15/2021 987,500.000.8410.829 FHLB0979-21A 1,500,000.00 1,499,624.660.375 03/15/20243130ALKS2 09/15 - 03/15 31.2503/17/2021 1,499,550.000.3850.380 FHLB0979-21B 1,000,000.00 999,749.770.375 03/15/20243130ALKS2 09/15 - 03/15 20.8303/17/2021 999,700.000.3850.380 FHLB0980-21 2,650,000.00 2,647,209.700.500 04/14/20263130ALVT8 10/14 - 04/1404/14/2021 2,647,085.001.1161.101 FHLB0984-21A 1,500,000.00 1,500,093.750.450 07/15/20243130ALTV6 07/15 - 01/15 93.7504/20/2021 1,500,000.000.4500.444 FHLB0984-21B 1,000,000.00 1,000,062.500.450 07/15/20243130ALTV6 07/15 - 01/15 62.5004/20/2021 1,000,000.000.4500.444 FHLB0985-21A 1,500,000.00 1,499,719.620.450 07/26/20243130ALVQ4 10/26 - 04/26 75.0004/30/2021 1,499,625.000.4580.452 FHLB0985-21B 1,000,000.00 999,813.080.450 07/26/20243130ALVQ4 10/26 - 04/26 50.0004/30/2021 999,750.000.4580.452 FHLMC0917-20 1,000,000.00 1,004,899.832.375 01/13/20223137EADB2 07/13 - 01/13 Received02/20/2020 1,017,430.111.4401.420 FHLMC0929-20A 1,500,000.00 1,516,050.962.375 01/13/20223137EADB2 07/13 - 01/13 Received04/15/2020 1,552,500.000.3600.355 FHLMC0929-20B 1,000,000.00 1,010,700.642.375 01/13/20223137EADB2 07/13 - 01/13 Received04/15/2020 1,035,000.000.3600.355 FHLMC0955-20 1,500,000.00 1,500,540.000.125 07/25/20223137EAET2 01/25 - 07/25 Received10/15/2020 1,500,900.000.0910.090 FHLMC0960-20 1,000,000.00 1,000,000.000.360 05/15/20243134GXBD5 05/15 - 11/15 Received11/20/2020 1,000,000.000.3600.355 FHLMC0961-20 1,000,000.00 1,000,000.000.350 03/29/20243134GWXC5 03/29 - 09/29 Received11/20/2020 1,000,000.000.3500.345 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PMS) 7.3.0 Page 3 Par Value Stated Rate June 30, 2021 Investment Status Report - Investments Portfolio Management Book Value Maturity Date Current Principal Investments FY 2020-2021 YTM 365 YTM 360 Payment DatesCUSIPInvestment #Issuer Purchase Date Accrued Interest At Purchase Federal Agency Coupon Securities FNMA0927-20 1,500,000.00 1,501,931.141.250 08/17/20213135G0N82 08/17 - 02/17 Received04/15/2020 1,520,235.000.2400.237 FNMA0928-20 1,500,000.00 1,504,211.731.375 10/07/20213135G0Q89 10/07 - 04/07 Received04/15/2020 1,523,340.000.3190.314 54,911,233.60Federal Agency Coupon Securities Totals 55,247,009.45922.780.53854,785,000.00 0.546 Treasury Coupon Securities US TRE0835-18 2,500,000.00 2,476,564.501.875 05/31/2022912828XD7 11/30 - 05/31 Received10/15/2018 2,407,100.002.9632.923 US TRE0836-18 2,500,000.00 2,473,855.701.750 05/31/2022912828XR6 11/30 - 05/31 Received10/15/2018 2,396,362.132.9642.923 US TRE0860-19 3,000,000.00 2,954,748.231.625 05/31/2023912828R69 05/31 - 11/30 Received03/08/2019 2,899,980.002.4592.426 US TRE0888-19 1,000,000.00 1,000,343.122.625 07/15/2021912828Y20 01/15 - 07/15 Received09/13/2019 1,016,445.311.7111.688 US TRE0893-19 6,000,000.00 6,134,664.712.750 05/31/20239128284S6 11/30 - 05/31 Received11/04/2019 6,251,220.001.5401.519 US TRE0899-19 1,000,000.00 1,001,391.942.750 08/15/20219128284W7 02/15 - 08/15 Received11/21/2019 1,019,580.001.6001.578 US TRE0900-19 1,000,000.00 999,831.761.500 08/31/2021912828YC8 02/29 - 08/31 Received11/21/2019 998,210.001.6021.580 US TRE0902-19 1,000,000.00 998,854.121.125 09/30/2021912828T34 03/31 - 09/30 Received11/21/2019 991,450.001.5941.572 US TRE0903-19 1,000,000.00 1,003,627.522.875 10/15/20219128285F3 04/15 - 10/15 Received11/21/2019 1,023,750.001.6001.578 US TRE0904-19 1,500,000.00 1,507,108.352.875 11/15/20219128285L0 05/15 - 11/15 Received11/21/2019 1,537,617.191.5861.564 US TRE0918-20 1,000,000.00 1,004,095.852.875 10/15/20219128285F3 04/15 - 10/15 Received02/20/2020 1,023,300.001.4411.421 US TRE0934-20A 1,000,000.00 1,011,361.091.875 02/28/2022912828W55 08/31 - 02/28 Received05/15/2020 1,030,703.120.1600.158 US TRE0934-20B 1,500,000.00 1,517,041.641.875 02/28/2022912828W55 08/31 - 02/28 Received05/15/2020 1,546,054.690.1600.158 US TRE0937-20A 1,000,000.00 1,001,491.280.375 03/31/2022912828ZG8 09/30 - 03/31 Received05/19/2020 1,003,720.000.1750.173 US TRE0937-20B 1,500,000.00 1,502,236.920.375 03/31/2022912828ZG8 09/30 - 03/31 Received05/19/2020 1,505,580.000.1750.173 US TRE0946-20 1,500,000.00 1,502,713.620.375 03/31/2022912828ZG8 09/30 - 03/31 Received09/17/2020 1,505,566.410.1330.131 US TRE0953-20 1,000,000.00 1,014,468.491.875 04/30/2022912828X47 10/31 - 04/30 Received10/15/2020 1,026,835.940.1340.132 US TRE0954-20 1,500,000.00 1,525,165.651.750 07/15/20229128287C8 01/15 - 07/15 Received10/15/2020 1,542,363.280.1340.132 US TRE0957-20 1,500,000.00 1,499,732.020.125 04/30/2022912828ZM5 04/30 - 10/31 Received11/16/2020 1,499,531.250.1460.144 US TRE0958-20 1,500,000.00 1,522,921.301.750 06/15/20229128286Y1 12/15 - 06/15 Received11/16/2020 1,537,830.000.1500.148 US TRE0959-20 1,500,000.00 1,522,628.041.500 08/15/2022912828YA2 02/15 - 08/15 Received11/16/2020 1,535,156.250.1560.154 US TRE0963-20 1,000,000.00 1,014,708.621.875 04/30/2022912828X47 04/30 - 10/31 Received12/08/2020 1,024,660.000.1050.104 US TRE0964-20 1,000,000.00 1,000,074.360.125 05/31/2022912828ZR4 05/31 - 11/30 Received12/08/2020 1,000,120.000.1170.115 US TRE0965-20 1,000,000.00 1,015,579.011.750 06/15/20229128286Y1 12/15 - 06/15 Received12/08/2020 1,024,730.000.1200.118 US TRE0966-20 1,000,000.00 1,000,044.780.125 06/30/2022912828ZX1 12/31 - 06/30 Received12/08/2020 1,000,070.000.1210.119 US TRE0967-20 1,000,000.00 1,017,242.201.750 07/15/20229128287C8 01/15 - 07/15 Received12/15/2020 1,026,250.000.0910.090 US TRE0968-20 1,000,000.00 1,000,266.440.125 07/31/202291282CAC5 01/31 - 07/31 Received12/15/2020 1,000,400.000.1000.099 US TRE0969-20 1,500,000.00 1,500,320.010.125 08/31/202291282CAG6 02/28 - 08/31 Received12/15/2020 1,500,468.750.1070.105 US TRE0970-20 1,500,000.00 1,525,233.271.500 09/15/2022912828YF1 03/15 - 09/15 Received12/15/2020 1,536,562.500.1040.103 US TRE0971-21 1,000,000.00 1,017,385.791.625 08/15/2022912828TJ9 02/15 - 08/15 Received02/12/2021 1,023,280.000.0800.079 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PMS) 7.3.0 Page 4 Par Value Stated Rate June 30, 2021 Investment Status Report - Investments Portfolio Management Book Value Maturity Date Current Principal Investments FY 2020-2021 YTM 365 YTM 360 Payment DatesCUSIPInvestment #Issuer Purchase Date Accrued Interest At Purchase Treasury Coupon Securities US TRE0972-21 1,000,000.00 1,000,399.610.125 08/31/202291282CAG6 02/28 - 08/31 Received02/12/2021 1,000,530.000.0910.089 US TRE0973-21 1,500,000.00 1,500,632.270.125 09/30/202291282CAN1 03/31 - 09/30 Received02/12/2021 1,500,825.000.0910.090 US TRE0982-21 6,000,000.00 6,280,646.622.000 05/31/2024912828XT2 05/31 - 11/30 Received04/15/2021 6,300,937.500.3840.379 US TRE0983-21 6,000,000.00 5,904,368.160.250 05/31/2025912828ZT0 05/31 - 11/30 Received04/15/2021 5,899,218.750.6630.654 US TRE0986-21A 1,500,000.00 1,602,483.242.375 08/15/2024912828D56 08/15 - 02/15 8,660.2205/14/2021 1,597,770.000.3600.355 US TRE0986-21B 1,000,000.00 1,068,322.162.375 08/15/2024912828D56 08/15 - 02/15 5,773.4805/14/2021 1,065,180.000.3600.355 US TRE0988-21 4,000,000.00 3,959,274.340.250 05/31/2025912828ZT0 11/30 - 05/31 300.5506/11/2021 3,958,400.000.5150.508 US TRE0989-21 3,000,000.00 3,151,924.112.000 05/31/2024912828XT2 11/30 - 05/31 1,803.2806/11/2021 3,152,940.000.2750.271 US TRE0990-21A 1,500,000.00 1,555,096.331.500 09/30/2024912828YH7 09/30 - 03/31 4,856.5606/18/2021 1,550,790.000.4600.454 US TRE0990-21B 1,000,000.00 1,036,730.881.500 09/30/2024912828YH7 09/30 - 03/31 3,237.7006/18/2021 1,033,860.000.4600.454 72,325,578.05Treasury Coupon Securities Totals 72,495,348.0724,631.790.79271,500,000.00 0.803 159,658,371.49Investment Totals 160,155,178.4625,554.57158,710,642.06 0.866 0.878 Portfolio 2021 AC Run Date: 07/08/2021 - 14:11 PM (PRF_PMS) 7.3.0 For Fiscal Year Ending June 30, 2021 0.27% 44.83% 54.90% Portfolio by Asset Class Cash and Equivalents Long Term Short Term For Fiscal Year Ending June 30, 2021 0.63% 3.15%0.63%8.51% 19.08% 4.41%2.21% 1.89% 2.70% 2.84% 45.05% 8.82% 0.08% Par Value by Issuer Graph BT CHSSMN FAMCA FFCB FHLB FHLMC FNB FNMA GWB LBCMNY UST USB WF For Fiscal Year Ending June 30, 2021 0.18%0.08% 14.09% 5.95% 34.39% 45.30% Book Value By Investment Type Money Market Passbook/Checking Accounts Certificate of Deposit Commercial Paper Federal Agency Coupon Securities Treasury Coupon Securities For Fiscal Year Ending June 30, 2021 0.00 0.50 1.00 1.50 2.00 2.50 Investment Yield by Type Caring People  Quality Programs  Exceptional Service 515.239.5105 main 5.239.5142 fax Ave. MEMO TO: Members of the City Council FROM: John A. Haila, Mayor DATE: July 27, 2021 SUBJECT: Appointment to Fill Vacancy on Ames Human Relations Commission Leslie Ginder, member of the Ames Human Relations Commission, has submitted her resignation from the Commission. Since Leslie’s term of office does not expire until April 1, 2023, an appointment needs to be made to fill this vacancy. Therefore, I request that the City Council approve the appointment of Chunhui Chen to fill an unexpired term of office on the Ames Human Relations Commission. JAH/alc Item No. 10 1 ITEM # ____11__ DATE 07-27-21 COUNCIL ACTION FORM SUBJECT: COOPERATIVE AGREEMENT BETWEEN AMES HUMAN RELATIONS COMMISSION AND IOWA CIVIL RIGHTS COMMISSION BACKGROUND: The City has regularly contracted with the Iowa Civil Rights Commission (ICRC) to manage the intake and resolution of civil rights complaints. ICRC offers funds to cities willing to enter into these agreements on a fee-per-case basis. The agreement allows the City to use these resources to assist complainants with obtaining and filling out complaint forms and ensuring they are complete and valid. The agreement also provides for the City to handle the resolution of complaints, including the investigation and conclusion of the cases. Neither participating in the intake process or in the investigation process is mandatory under the cooperative agreement. It simply provides a procedure if the City wishes to perform either of these functions. ICRC has presented a new agreement for the fiscal year ending June 30, 2022. The Ames Human Relations Commission has reviewed the agreement and recommends its approval. ALTERNATIVES: 1. Approve the cooperative agreement between the Ames Human Relations Commission and Iowa Civil Rights Commission. 2. Do not approve the agreement. CITY MANAGER’S RECOMMENDED ACTION: This agreement formalizes the mechanism that may be used by the City to transfer civil rights complaints to the Iowa Civil Rights Commission for investigation. ICRC will compensate the City for acting as the intake agent under this agreement. The City and ICRC have maintained this arrangement for many years. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as described above. ITEM # 12 DATE: 7/27/2021 COUNCIL ACTION FORM SUBJECT: RESOLUTION APPROVING OFFICIAL STATEMENT FOR GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2021A, SETTING DATE OF SALE FOR AUGUST 10, 2021, AND AUTHORIZING ELECTRONIC BIDDING FOR THE SALE BACKGROUND: The FY 2021/22 Budget includes General Obligation (G.O.) Bond-funded capital improvement projects in the amount of $11,055,400. The City Council held a public hearing on the issuance of these bonds and for the refunding of bonds on February 23, 2021. Council action is now required to approve the official statement, set the date of sale for August 10, 2021, and authorize electronic bidding. The Official Statement, or “Preliminary Official Statement,” is the offering document for municipal securities, in preliminary form, which does not contain pricing information. The Statement provides several financial disclosures and information about the City. This “Preliminary Official Statement” is on file in the City Clerk’s Office and is attached to this report. Additionally, Council is asked to approve electronic bidding as the method to provide a secure and highly competitive process for the sale of the bonds. The proposed issuance is in compliance with the City Council approved debt policy. Projects to be funded by this bond issue include the following: -General Corporate Purpose- Subtotal Tax Supported Bonds $11,055,400 Refunding Bonds 11,055,000 Estimated Issuance Costs 294,600 Grand Total – 2021/22 G.O. Issue $22,405,000 To take advantage of current lower interest rates, this authorization to sell bonds also includes the current refunding of the Series 2013 G.O. Bond issue. It is estimated that this refunding will yield approximately $900,000 in present value savings to the City, or an approximate 8% reduction in total debt service cost over the life of the bonds. Our policy target for current refunding is a 3% reduction in debt service. ALTERNATIVES: 1. Approve the Official Statement for General Obligation Corporate Purpose Bonds, Series 2021A, setting the date of sale for August 10, 2021, and authorize electronic bidding for the sale. 2. Refer the Official Statement back to City staff for modifications. CITY MANAGER’S RECOMMENDED ACTION: Issuance of these bonds is necessary in order to accomplish the City’s approved Capital Improvements Plan for the current fiscal year and savings can be realized by bond refunding. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1 as stated above. Th i s P r e l i m i n a r y O f f i c i a l S t a t e m e n t a n d t h e in f o r m a t i o n c o n t a i n e d h e r e i n a r e s u b j e c t t o c o m p l e t i o n , a m e n d m e n t o r o t h e r c h a n g e w it h o u t n o t i c e . T h e B o n d s m a y n o t b e s o l d n o r ma y o f f e r s t o b u y b e a c c e p t e d p r i o r t o t h e t i m e th e P r e l i m i n a r y O f f i c i a l S t a t e m e n t i s d e l i v e r e d i n f i n a l f o r m . U n d e r n o c i r c u m s t a n c e s s h a l l t h i s P r e l i m i n a r y O f f i c i a l S t a t e m e n t c o n s t i t u t e a n o f f e r t o s e l l o r t h e s o l i c i t a t i o n o f a n o f f e r t o b u y , n o r s h a l l t h e r e b e a n y s a l e o f t h e Bo n d s i n a n y j u r i s d i c t i o n i n w h i c h s u c h o f f e r , s o l i c i t a t i o n o r sa l e w o u l d b e u n l a w f u l p r i o r t o r e g i s t r a t i o n o r q u a l i f i c a t i o n u n de r t h e a p p l i c a b l e s e c u r i t i e s la w s o f a n y s u c h j u r i s d i c t i o n . PRELIMINARY OFFICIAL STATEMENT DATED JULY 27, 2021 New & Refunding Issue Rating: Application Made to Moody’s Investors Service In the opinion of Dorsey & Whitney LLP, Bond Counsel, according to present laws, rulings and decisions and assuming compliance with certain covenants, interest on the Bonds (including any original issue discount properly allocable to an owner thereof) is excluded from gross income for federal income tax purposes. Interest on the Bonds is not treated as a preference item in calculating the federal alternative minimum tax imposed under the Internal Revenue Code of 1986 (the “Code”). The Bonds will NOT be designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code. See “TAX EXEMPTION AND RELATED TAX MATTERS” herein. CITY OF AMES, IOWA $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A BIDS RECEIVED: Tuesday, August 10, 2021, 11:00 A.M., Central Time AWARD: Tuesday, August 10, 2021, 6:00 P.M., Central Time Dated: Date of Delivery (September 9, 2021) Principal Due: June 1, as shown inside front cover The $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A (the “Bonds”) are being issued pursuant to Division III of Chapters 384 of the Code of Iowa and a resolution to be adopted by the City Council of the City of Ames, Iowa (the “City”). The Bonds are being issued for the purpose of paying the cost, to that extent, of constructing improvements to streets, installing traffic control improvements, and constructing sewer improvements. In addition, the Bonds are being issued to current refund on September 9, 2021, $11,055,000 of the outstanding General Obligation Corporate Purpose Bonds, Series 2013, originally dated May 30, 2013, maturing June 1, 2022 through June 1, 2032 (the “Series 2013 Bonds). The purchaser of the Bonds agrees to enter into a loan agreement (the “Loan Agreement”) with the City pursuant to the authority contained in Section 384.24A of the Code of Iowa. The Bonds are issued in evidence of the City’s obligations under the Loan Agreement. The Bonds are general obligations of the City for which the City will pledge its power of levy direct ad valorem taxes against all taxable property within the City without limitation as to rate or amount to the repayment of the Bonds. The Bonds will be issued as fully registered Bonds without coupons and, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”). DTC will act as securities depository for the Bonds. Individual purchases may be made in book-entry-only form, in the principal amount of $5,000 and integral multiples thereof. The purchaser will not receive certificates representing their interest in the Bonds purchased. The City’s Treasurer as Registrar/Paying Agent (the “Registrar”) will pay principal on the Bonds, payable annually on June 1, beginning June 1, 2022, and interest on the Bonds payable initially on June 1, 2022 and thereafter on each December 1 and June 1 to DTC, which will in turn remit such principal and interest to its participants for subsequent disbursements to the beneficial owners of the Bonds as described herein. Interest and principal shall be paid to the registered holder of a bond as shown on the records of ownership maintained by the Registrar as of the 15th day of the month next preceding the interest payment date (the “Record Date”). THE BONDS WILL MATURE AS LISTED ON THE INSIDE FRONT COVER MINIMUM BID: $22,203,355 GOOD FAITH DEPOSIT: Required of Purchaser Only TAX MATTERS: Federal: Tax-Exempt State: Taxable See “TAX EXEMPTION AND RELATED TAX ATTERS” for more information. The Bonds are offered, subject to prior sale, withdrawal or modification, when, as, and if issued subject to the legal opinion of Dorsey & Whitney LLP, Bond Counsel, Des Moines, Iowa, to be furnished upon delivery of the Bonds. It is expected the Bonds will be available for delivery on or about September 9, 2021 via Fast Automated Securities Transfer delivery with the Registrar holding the Bonds on behalf of DTC. This Preliminary Official Statement in the form presented is deemed final for purposes of Rule 15c2-12 of the Securities and Exchange Commission, subject to revisions, corrections of modifications as determined to be appropriate, and is authorized to be distributed in connection with the offering of the Bonds for sale. *Preliminary; subject to change. DRA F T CITY OF AMES, IOWA $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A MATURITY: The Bonds will mature June 1 in the years and amounts as follows: Yea Amoun * 2022 $2,345,000 2023 2,315,000 2024 2,315,000 2025 2,330,000 2026 1,685,000 2027 1,690,000 2028 1,710,000 2029 1,725,000 2030 1,745,000 2031 1,770,000 2032 1,790,000 2033 985,000 *PRINCIPAL ADJUSTMENT: Preliminary; subject to change. The aggregate principal amount of the Bonds, and each scheduled maturity thereof, are subject to increase or reduction by the City or its designee after the determination of the successful bidder. The City may increase or decrease each maturity in increments of $5,000 but the total amount to be issued will not exceed $26,365,000. Interest rates specified by the successful bidder for each maturity will not change. Final adjustments shall be in the sole discretion of the City. The dollar amount of the purchase price proposed by the successful bidder will be changed if the aggregate principal amount of the Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the successful bidder's net compensation, calculated as a percentage of bond principal. The successful bidder may not withdraw or modify its bid as a result of any post-bid adjustment. Any adjustment shall be conclusive and shall be binding upon the successful bidder. INTEREST: Interest on the Bonds will be payable on June 1, 2022 and semiannually thereafter. REDEMPTION: Bonds due after June 1, 2029 will be subject to call for prior redemption on said date or on any day thereafter upon terms of par plus accrued interest to date of call. Written notice of such call shall be given at least thirty (30) days prior to the date fixed for redemption to the registered owners of the Bonds to be redeemed at the address shown on the registration books. DRA F T COMPLIANCE WITH S.E.C. RULE 15c2-12 Municipal obligations (issued in an aggregate amount over $1,000,000) are subject to General Rules and Regulations, Securities Exchange Act of 1934, Rule 15c2-12 Municipal Securities Disclosure. Preliminary Official Statement: This Preliminary Official Statement was prepared for the City for dissemination to prospective bidders. Its primary purpose is to disclose information regarding the Bonds to prospective bidders in the interest of receiving competitive bids in accordance with the “TERMS OF OFFERING” contained herein. Unless an addendum is received prior to the sale, this document shall be deemed the final “Preliminary Official Statement”. Review Period: This Preliminary Official Statement has been distributed to City staff as well as to prospective bidders for an objective review of its disclosure. Comments, omissions or inaccuracies must be submitted to PFM Financial Advisors LLC (the “Municipal Advisor”) at least two business days prior to the sale. Requests for additional information or corrections in the Preliminary Official Statement received on or before this date will not be considered a qualification of a bid received. If there are any changes, corrections or additions to the Preliminary Official Statement, prospective bidders will be informed by an addendum at least one business day prior to the sale. Final Official Statement: Upon award of sale of the Bonds, the legislative body will authorize the preparation of a final Official Statement that includes the offering prices, interest rates, selling compensation, aggregate principal amount, principal amount per maturity, anticipated delivery date and other information required by law and the identity of the underwriter (the “Syndicate Manager”) and syndicate members. Copies of the final Official Statement will be delivered to the Syndicate Manager within seven business days following the bid acceptance. REPRESENTATIONS No dealer, broker, salesman or other person has been authorized by the City, the Municipal Advisor or the underwriter to give any information or to make any representations other than those contained in this Preliminary Official Statement or the final Official Statement and, if given or made, such information and representations must not be relied upon as having been authorized by the City, the Municipal Advisor or the underwriter. This Preliminary Official Statement or the final Official Statement does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of the Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the City and other sources which are believed to be reliable, but it is not to be construed as a representation by the Municipal Advisor or underwriter. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Preliminary Official Statement or the final Official Statement, nor any sale made thereafter shall, under any circumstances, create any implication there has been no change in the affairs of the City or in any other information contained herein, since the date hereof. This Preliminary Official Statement is submitted in connection with the sale of the securities referred to herein and may not be reproduced or used, in whole or in part, for any other purpose. This Preliminary Official Statement and any addenda thereto were prepared relying on information from the City and other sources, which are believed to be reliable. The Bonds are being offered when, and if issued by the City and accepted by the underwriter, subject to receipt of an opinion as the legality, validity and tax exemption by Dorsey & Whitney LLP, Des Moines, Iowa, Bond Counsel. It is expected that the Bonds in the definitive form will be available on or about September 9, 2021 via Fast Automated Securities Transfer delivery with the Registrar holding the Bonds on behalf of DTC. Compensation of the Municipal Advisor, payable entirely by the City, is contingent upon the sale of the Bonds. DRA F T TABLE OF CONTENTS TERMS OF OFFERING ................................................................................................................. ..i SCHEDULE OF BOND YEARS .................................................................................................... vii EXHIBIT 1 - FORMS OF ISSUE PRICE CERTIFICATES PRELIMINARY OFFICIAL STATEMENT Introduction ....................................................................................................................................................... ..1 Authority And Purpose ...................................................................................................................................... ..1 Interest On The Bonds ....................................................................................................................................... ..2 Optional Redemption ......................................................................................................................................... ..2 Payment Of And Security For The Bonds ......................................................................................................... ..2 Book-Entry-Only Issuance ................................................................................................................................ ..2 Future Financing ................................................................................................................................................ ..4 Litigation ........................................................................................................................................................... ..4 Debt Payment History ....................................................................................................................................... ..4 Legal Matters ..................................................................................................................................................... ..4 Tax Exemption And Related Tax Matters ......................................................................................................... ..5 Bondholder's Risks ............................................................................................................................................ ..7 Rating ................................................................................................................................................................ 11 Municipal Advisor ............................................................................................................................................. 11 Continuing Disclosure ....................................................................................................................................... 11 Financial Statements .......................................................................................................................................... 12 Certification ....................................................................................................................................................... 12 APPENDIX A - GENERAL INFORMATION ABOUT THE CITY OF AMES, IOWA APPENDIX B - FORM OF LEGAL OPINION APPENDIX C - JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT APPENDIX D - FORM OF CONTINUING DISCLOSURE CERTIFICATE OFFICIAL BID FORMDRA F T City of Ames, Iowa Mayor/City Council Membe Office Initial Term Commenced Term Expires John Haila Mayo January 02, 2018 December 31, 2021 Gloria Betche Council Member – 1st Ward January 02, 2014 December 31, 2021 Tim Gartin Council Member – 2nd Ward January 02, 2014 December 31, 2023 David Martin Council Member – 3rd Ward January 01, 2018 December 31, 2021 Rachel Junck Council Member – 4th Ward January 02, 2020 December 31, 2023 Bronwyn Beatty-Hansen Council Member – At Large January 01, 2016 December 31, 2023 Amber Corrieri Council Member – At Large January 02, 2014 December 31, 2021 Trevor Poundstone Ex-Officio Administration Steven Schainker, City Manager Duane Pitcher, Director of Finance Diane Voss, City Clerk Roger Wisecup II, City Treasurer John Dunn, Director of Water and Pollution Control John Joiner, Director of Public Works Donald Kom, Director of Electric Utility City Attorney Mark Lambert Ames, Iowa Bond Counsel Dorsey & Whitney LLP Des Moines, Iowa Municipal Advisor PFM Financial Advisors LLC Des Moines, Iowa DRA F T i TERMS OF OFFERING CITY OF AMES, IOWA Bids for the purchase of the City of Ames, Iowa’s (the “City”) $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A (the “Bonds”) will be received on Tuesday, August 10, 2021, before 11:00 A.M., Central Time, after which time they will be tabulated. The City Council will consider award of the Bonds at 6:00 P.M., Central Time, on the same day. Questions regarding the sale of the Bonds should be directed to the City’s Municipal Advisor, PFM Financial Advisors LLC (the “Municipal Advisor”), 801 Grand Avenue, Suite 3300, Des Moines, Iowa, 50309, telephone 515-243-2600. Information may also be obtained from Mr. Duane Pitcher, Director of Finance, City of Ames, 515 Clark Avenue, Ames, Iowa, 50010, telephone 515-239-5114. The following section sets forth the description of certain terms of the Bonds, as well as the “TERMS OF OFFERING” with which all bidders and bid proposals are required to comply. DETAILS OF THE BONDS GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING BONDS, SERIES 2021A, in the principal amount of $22,405,000* to be dated the date of delivery (September 9, 2021), in the denomination of $5,000 or multiples thereof, will mature on June 1 as follows: Yea Amoun * 2022 $2,345,000 2023 2,315,000 2024 2,315,000 2025 2,330,000 2026 1,685,000 2027 1,690,000 2028 1,710,000 2029 1,725,000 2030 1,745,000 2031 1,770,000 2032 1,790,000 2033 985,000 * Preliminary; subject to change. ADJUSTMENT TO BOND MATURITY AMOUNTS The aggregate principal amount of the Bonds, and each scheduled maturity thereof, are subject to increase or reduction by the City or its designee after the determination of the successful bidder. The City may increase or decrease each maturity in increments of $5,000 but the total amount to be issued will not exceed $26,365,000. Interest rates specified by the successful bidder for each maturity will not change. Final adjustments shall be in the sole discretion of the City. The dollar amount of the purchase price proposed by the successful bidder will be changed if the aggregate principal amount of the Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the successful bidder's net compensation, calculated as a percentage of bond principal. The successful bidder may not withdraw or modify its bid as a result of any post-bid adjustment. Any adjustment shall be conclusive and shall be binding upon the successful bidder. DRA F T ii INTEREST Interest on the Bonds will be payable on June 1, 2022 and semiannually on the 1st day of December and June thereafter. Principal and interest shall be paid to the registered holder of a bond as shown on the records of ownership maintained by the Registrar as of the 15th day of the month preceding the interest payment date (the “Record Date”). Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the Municipal Securities Rulemaking Board. OPTIONAL REDEMPTION Bonds due after June 1, 2029 will be subject to call prior to maturity in whole, or from time to time in part, in any order of maturity and within a maturity by lot on said date or on any date thereafter at the option of the City, upon terms of par plus accrued interest to date of call. Written notice of such call shall be given at least thirty (30) days prior to the date fixed for redemption to the registered owners of the Bonds to be redeemed at the address shown on the registration books. TERM BOND OPTION Bidders shall have the option of designating the Bonds as serial bonds or term bonds, or both. The bid must designate whether each of the principal amounts shown above represent a serial maturity or a mandatory redemption requirement for a term bond maturity. (See the “OFFICIAL BID FORM” for more information.) In any event, the above principal amount scheduled shall be represented by either serial bond maturities or mandatory redemption requirements, or a combination of both. GOOD FAITH DEPOSIT A good faith deposit in the amount of $224,050 (the “Deposit”) is required from the lowest bidder only. The lowest bidder is required to submit such Deposit payable to the order of the City, not later than 1:00 P.M., Central Time, on the day of the sale of the Bonds and in the form of either (i) a cashier’s check provided to the City or its Municipal Advisor, or (ii) a wire transfer as instructed by the City’s Municipal Advisor. If not so received, the bid of the lowest bidder may be rejected and the City may direct the second lowest bidder to submit a deposit and thereafter may award the sale of the Bonds to the same. No interest on a deposit will accrue to the successful bidder (the “Purchaser”). The Deposit will be applied to the purchase price of the Bonds. In the event a Purchaser fails to honor its accepted bid proposal, any deposit will be retained by the City. FORM OF BIDS AND AWARD All bids shall be unconditional for the entire issue of Bonds for a price not less than $22,203,355, plus accrued interest, and shall specify the rate or rates of interest in conformity to the limitations as set forth in the “BIDDING PARAMETERS” section herein. Bids must be submitted on or in substantial compliance with the “OFFICIAL BID FORM” provided by the City. The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a true interest cost (the “TIC”) basis assuming compliance with the “ESTABLISHMENT OF ISSUE PRICE” herein, and “GOOD FAITH DEPOSIT” herein. The TIC shall be determined by the present value method, i.e., by ascertaining the semiannual rate, compounded semiannually, necessary to discount to present value as of the dated date of the Bonds, the amount payable on each interest payment date and on each stated maturity date or earlier mandatory redemption, so that the aggregate of such amounts will equal the aggregate purchase price offered therefore. The TIC shall be stated in terms of an annual percentage rate and shall be that rate of interest which is twice the semiannual rate so ascertained (also known as the Canadian Method). The TIC shall be as determined by the Municipal Advisor based on the “TERMS OF OFFERING” and all amendments, and on the bids as submitted. The Municipal Advisor’s computation of the TIC of each bid shall be controlling. In the event of tie bids for the lowest TIC, the Bonds will be awarded by lot. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and (iii) reject any bid which the City determines to have failed to comply with the terms herein. DRA F T iii BIDDING PARAMETERS Each bidder’s proposal must conform to the following limitations: 1. Each annual maturity must bear a single rate of interest from the dated date of the Bonds to the date of maturity. 2. Rates of interest bid must be in multiples of one-eighth or one-twentieth of one percent. 3. The initial price to the public for each maturity must be 98% or greater. RECEIPT OF BIDS Forms of Bids: Bids must be submitted on or in substantial compliance with the “TERMS OF OFFERING” and “OFFICIAL BID FORM” provided by the City or through PARITY® competitive bidding system (the “Internet Bid System”). The City shall not be responsible for malfunction or mistake made by any person, or as a result of the use of an electronic bid or the means used to deliver or complete a bid. The use of such facilities or means is at the sole risk of the prospective bidder who shall be bound by the terms of the bid as received. No bid will be accepted after the time specified in the “OFFICIAL BID FORM”. The time as maintained by the Internet Bid System shall constitute the official time with respect to all bids submitted. A bid may be withdrawn before the bid deadline using the same method used to submit the bid. If more than one bid is received from a bidder, the last bid received shall be considered. Sealed Bidding: Sealed bids may be submitted and will be received at the office of the City’s Director of Finance, City Hall, 515 Clark Avenue, Ames, Iowa 50010. Electronic Internet Bidding: Electronic internet bids will be received at the office of the City’s Municipal Advisor, PFM Financial Advisors LLC, Des Moines, Iowa, and at the office of the City’s Finance Director. Electronic internet bids must be submitted through the Internet Bid System. Information about the Internet Bid System may be obtained by calling 212-849-5021. Each bidder shall be solely responsible for making necessary arrangements to access the Internet Bid System for purposes of submitting its electronic internet bid in a timely manner and in compliance with the requirements of the “TERMS OF OFFERING” and “OFFICIAL BID FORM”. The City is permitting bidders to use the services of the Internet Bid System solely as a communication mechanism to conduct the electronic internet bidding and the Internet Bid System is not an agent of the City. Provisions of the “TERMS OF OFFERING” and “OFFICIAL BID FORM” shall control in the event of conflict with information provided by the Internet Bid System. Electronic Facsimile Bidding: Electronic facsimile bids will be received at the office of the City’s Municipal Advisor, PFM Financial Advisors LLC (facsimile number: 515-243-6994). Electronic facsimile bids will be sealed and treated as sealed bids. Electronic facsimile bids received after the deadline will be rejected. Bidders electing to submit bids via electronic facsimile transmission bear full responsibility for the transmission of such bid. Neither the City nor its agents shall be responsible for malfunction or mistake made by any person, or as a result of the use of the electronic facsimile facilities or any other means used to deliver or complete a bid. The use of such facilities or means is at the sole risk of the prospective bidder who shall be bound by the terms of the bid as received. Neither the City nor its agents will assume liability for the inability of the bidder to reach the above named electronic facsimile numbers prior to the time of sale specified above. Time of receipt shall be the time recorded by the electronic facsimile operator receiving the bids. DRA F T iv BOOK-ENTRY-ONLY ISSUANCE The Bonds will be issued by means of a book-entry-only system with no physical distribution of bond certificates made to the public. The Bonds will be issued in fully registered form and one bond certificate, representing the aggregate principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of The Depository Trust Company (“DTC”), New York, New York, which will act as securities depository of the Bonds. Individual purchases of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the Registrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The Purchaser, as a condition of delivery of the Bonds, will be required to deposit the bond certificates with DTC. MUNICIPAL BOND INSURANCE AT PURCHASER’S OPTION If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefore at the option of the bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the Purchaser. Any increased costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the Purchaser, except that, if the City has requested and received a rating on the Bonds from a rating agency, the City will pay that initial rating fee. Any other rating agency fees shall be the responsibility of the Purchaser. Failure of the municipal bond insurer to issue the policy after the Bonds have been awarded to the Purchaser shall not constitute cause for failure or refusal by the Purchaser to accept delivery on the Bonds. The City reserves the right in its sole discretion to accept or deny changes to the financing documents requested by the insurer selected by the Purchaser. DELIVERY The Bonds will be delivered to the Purchaser through DTC in New York, New York, against full payment in immediately available cash or federal funds. The Bonds are expected to be delivered within forty-five days after the sale. Should delivery be delayed beyond sixty days from the date of sale for any reason except failure of performance by the Purchaser, the Purchaser may withdraw their bid and thereafter their interest in and liability for the Bonds will cease. When the Bonds are ready for delivery, the City will give the Purchaser five working days’ notice of the delivery date and the City will expect payment in full on that date; otherwise reserving the right at its option to determine that the Purchaser failed to comply with the offer of purchase. ESTABLISHMENT OF ISSUE PRICE In order to establish the issue price of the Bonds for federal income tax purposes, the City requires bidders to agree to the following, and by submitting a bid, each bidder agrees to the following. If a bid is submitted by a potential underwriter, the bidder confirms that (i) the underwriters have offered or reasonably expect to offer the Bonds to the public on or before the date of the award at the offering price (the “initial offering price”) for each maturity as set forth in the bid and (ii) the bidder, if it is the winning bidder, shall require any agreement among underwriters, selling group agreement, retail distribution agreement or other agreement relating to the initial sale of the Bonds to the public to which it is a party to include provisions requiring compliance by all parties to such agreements with the provisions contained herein. For purposes hereof, Bonds with a separate CUSIP number constitute a separate “maturity,” and the public does not include underwriters of the Bonds (including members of a selling group or retail distribution group) or persons related to underwriters of the Bonds. If, however, a bid is submitted for the bidder’s own account in a capacity other than as an underwriter of the Bonds, and the bidder has no current intention to sell, reoffer, or otherwise dispose of the Bonds, the bidder shall notify the City to that effect at the time it submits its bid and shall provide a certificate to that effect in place of the certificate otherwise required below. If the winning bidder intends to act as an underwriter, the City shall advise the winning bidder at or prior to the time of award whether (i) the competitive sale rule or (ii) the “hold-the-offering price” rule applies. DRA F T v If the City advises the Purchaser that the requirements for a competitive sale have been satisfied and that the competitive sale rule applies, the Purchaser will be required to deliver to the City at or prior to closing a certification, substantially in the form attached hereto as EXHIBIT 1-A, as to the reasonably expected initial offering price as of the award date. If the City advises the Purchaser that the requirements for a competitive sale have not been satisfied and that the hold-the- offering price rule applies, the Purchaser shall (1) upon the request of the City confirm that the underwriters did not offer or sell any maturity of the Bonds to any person at a price higher than the initial offering price of that maturity during the period starting on the award date and ending on the earlier of (a) the close of the fifth business day after the sale date or (b) the date on which the underwriters have sold at least 10% of that maturity to the public at or below the initial offering price; and (2) at or prior to closing, deliver to the City a certification substantially in the form attached hereto as EXHIBIT 1-B, together with a copy of the pricing wire. Any action to be taken or documentation to be received by the City pursuant hereto may be taken or received on behalf of the City by Municipal Advisor. Bidders should prepare their bids on the assumption that the Bonds will be subject to the “hold-the-offering-price” rule. Any bid submitted pursuant to the “TERMS OF OFFERING” and “OFFICIAL BID FORM” shall be considered a firm offer for the purchase of the Bonds, and bids submitted will not be subject to cancellation or withdrawal. OFFICIAL STATEMENT The City has authorized the preparation of a Preliminary Official Statement containing pertinent information relative to the Bonds. The Preliminary Official Statement will be further supplemented by offering prices, interest rates, selling compensation, aggregate principal amount, principal amount per maturity, anticipated delivery date and underwriter, together with any other information required by law or deemed appropriate by the City, shall constitute a final Official Statement of the City with respect to the Bonds, as that term is defined in Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the “Rule”). By awarding the Bonds to any underwriter or underwriting syndicate submitting an “OFFICIAL BID FORM” therefore, the City agrees that no more than seven (7) business days after the date of such award, it shall provide without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded up to 25 copies of the final Official Statement to permit each “Participating Underwriter” (as that term is defined in the Rule) to comply with the provisions of the Rule. The City shall treat the senior managing underwriter of the syndicate to which the Bonds are awarded as its designated agent for purposes of distributing copies of the final Official Statement to the Participating Underwriter. Any underwriter executing and delivering an OFFICIAL BID FORM with respect to the Bonds, agrees thereby, if its bid is accepted by the City, (i) it shall accept such designation, and (ii) it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the final Official Statement. CONTINUING DISCLOSURE The City will covenant in a Continuing Disclosure Certificate for the benefit of the owners and beneficial owners of the Bonds to provide annually certain financial information and operating data relating to the City (the “Annual Report”), and to provide notices of the occurrence of certain enumerated events. The Annual Report is to be filed by the City no later than June 30th after the close of each fiscal year, commencing with the Fiscal Year ending June 30, 2021, with the Municipal Securities Rulemaking Board, at its internet repository named “Electronic Municipal Market Access” (“EMMA”). The notices of events, if any, are also to be filed with EMMA. See FORM OF CONTINUING DISCLOSURE CERTIFICATE included in APPENDIX D to this Preliminary Official Statement The specific nature of the information to be contained in the Annual Report or the notices of events, and the manner in which such materials are to be filed, are summarized in the FORM OF CONTINUING DISCLOSURE CERTIFICATE. These covenants have been made in order to assist the Underwriter in complying with SEC Rule 15c2-12(b)(5) (the “Rule”). In accordance with the reporting requirements of paragraph (f)(3) of the Rule, within the past five years, the City failed to timely file a notice of bond call for the redemption of the City’s General Obligation Corporate Purpose Bonds, Series 2009B. DRA F T vi Regarding the Mary Greeley Medical Center’s (the “Medical Center”) the quarterly financials for the quarter ended September 30, 2019 were filed one day late. Breach of the undertakings will not constitute a default or an “Event of Default” under the Bonds or the resolution for the Bonds. A broker or dealer is to consider a known breach of the undertakings, however, before recommending the purchase or sale of the Bonds in the secondary market. Thus, a failure on the part of the City to observe the undertakings may adversely affect the transferability and liquidity of the Bonds and their market price. CUSIP NUMBERS It is anticipated that Committee on Uniform Security Identification Procedures (“CUSIP”) numbers will be printed on the Bonds and the Purchaser must agree in the bid proposal to pay the cost thereof. In no event will the City, Bond Counsel or Municipal Advisor be responsible for the review or express any opinion that the CUSIP numbers are correct. Incorrect CUSIP numbers on said Bonds shall not be cause for the Purchaser to refuse to accept delivery of said Bonds. BY ORDER OF THE CITY COUNCIL City of Ames, Iowa /s/ Duane Pitcher, Director of Finance DRA F T vii SCHEDULE OF BOND YEARS $22,405,000* City of Ames, Iowa General Obligation Corporate Purpose and Refunding Bonds, Series 2021A Bonds Dated: Interest Due: June 1, 2022 and each December 1 and June 1 to maturity Principal Due: June 1, 2022-2033 Cumulative Year Principal * Bond Years Bond Years 2022 $2,345,000 1,706.64 1,706.64 2023 2,315,000 3,999.81 5,706.44 2024 2,315,000 6,314.81 12,021.25 2025 2,330,000 8,685.72 20,706.97 2026 1,685,000 7,966.31 28,673.28 2027 1,690,000 9,679.94 38,353.22 2028 1,710,000 11,504.50 49,857.72 2029 1,725,000 13,330.42 63,188.14 2030 1,745,000 15,229.97 78,418.11 2031 1,770,000 17,218.17 95,636.28 2032 1,790,000 19,202.72 114,839.00 2033 985,000 11,551.86 126,390.86 Average Maturity (dated date): 5.641 Years * Preliminary; subject to change. September 9, 2021 DRA F T EXHIBIT 1 FORMS OF ISSUE PRICE CERTIFICATES DRA F T EXHIBIT 1-A to TERMS OF OFFERING $22,405,000 General Obligation Corporate Purpose and Refunding Bonds, Series 2021A ISSUE PRICE CERTIFICATE (Form - More than 3 bids) The undersigned, on behalf of [NAME OF UNDERWRITER] (“[SHORT NAME OF UNDERWRITER]”), hereby certifies as set forth below with respect to the sale of the obligations named above (the “Bonds”). 1. Reasonably Expected Initial Offering Price. (a) As of the Sale Date, the reasonably expected initial offering prices of the Bonds to the Public by [SHORT NAME OF UNDERWRITER] are the prices listed in Schedule A (the “Expected Offering Prices”). The Expected Offering Prices are the prices for the Maturities of the Bonds used by [SHORT NAME OF UNDERWRITER] in formulating its bid to purchase the Bonds. Attached as Schedule B is a true and correct copy of the bid provided by [SHORT NAME OF UNDERWRITER] to purchase the Bonds. (b) [SHORT NAME OF UNDERWRITER] was not given the opportunity to review other bids prior to submitting its bid. (c) The bid submitted by [SHORT NAME OF UNDERWRITER] constituted a firm offer to purchase the Bonds. 2. Defined Terms. For purposes of this Issue Price Certificate: (a) Issuer means the City of Ames, Iowa. (b) Maturity means Bonds with the same credit and payment terms. Any Bonds with different maturity dates, or with the same maturity date but different stated interest rates, are treated as separate Maturities. (c) Member of the Distribution Group means (i) any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public). (d) Public means any person (i.e., an individual, trust, estate, partnership, association, company, or corporation) other than a Member of the Distribution Group or a related party to a Member of the Distribution Group. A person is a “related party” to a Member of the Distribution Group if the Member of the Distribution Group and that person are subject, directly or indirectly, to (i) at least 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another), (ii) more than 50% common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (iii) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other). (e) Sale Date means the first day on which there is a binding contract in writing for the sale of the respective Maturity. The Sale Date of each Maturity was August 10, 2021. DRA F T EXHIBIT 1-A to TERMS OF OFFERING The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents [SHORT NAME OF UNDERWRITER]’s interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the Issuer with respect to certain of the representations set forth in the Closing Certificate and with respect to compliance with the federal income tax rules affecting the Bonds, and by Dorsey & Whitney LLP in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. [UNDERWRITER] By:_______________________________________ Name:____________________________________ Dated: September 9, 2021 DRA F T EXHIBIT 1-A to TERMS OF OFFERING SCHEDULE A EXPECTED OFFERING PRICES (Attached) DRA F T EXHIBIT 1-A to TERMS OF OFFERING SCHEDULE B COPY OF UNDERWRITER’S BID (Attached) DRA F T EXHIBIT 1-B to TERMS OF OFFERING $22,405,000 General Obligation Corporate Purpose and Refunding Bonds, Series 2021A ISSUE PRICE CERTIFICATE (Form - Fewer than 3 bids) The undersigned, on behalf of [NAME OF UNDERWRITER ([“[SHORT NAME OF UNDERWRITER]”)] hereby certifies as set forth below with respect to the sale of the obligations named above (the “Bonds”). 1. Initial Offering Price of the Bonds. [SHORT NAME OF UNDERWRITER] offered the Bonds to the Public for purchase at the specified initial offering prices listed in Schedule A (the “Initial Offering Prices”) on or before the Sale Date. A copy of the pricing wire for the Bonds is attached to this certificate as Schedule B. 2. First Price at which Sold to the Public. On the Sale Date, at least 10% of each Maturity [listed in Schedule C] was first sold to the Public at the respective Initial Offering Price [or price specified [therein][in Schedule C], if different]. 3. Hold the Offering Price Rule. [SHORT NAME OF UNDERWRITER] has agreed in writing that, (i) for each Maturity less than 10% of which was first sold to the Public at a single price as of the Sale Date, it would neither offer nor sell any of the Bonds of such Maturity to any person at a price that is higher than the Initial Offering Price for such Maturity during the Holding Period for such Maturity (the “Hold-the-Offering-Price Rule”), and (ii) any agreement among underwriters, selling group agreement, or retail distribution agreement contains the agreement of each underwriter, dealer, or broker-dealer who is a party to such agreement to comply with the Hold-the-Offering-Price Rule. Based on the [SHORT NAME OF UNDERWRITER]’s own knowledge and, in the case of sales by other Members of the Distribution Group, representations obtained from the other Members of the Distribution Group, no Member of the Distribution Group has offered or sold any such Maturity at a price that is higher than the respective Initial Offering Price during the respective Holding Period. 4. Defined Terms. For purposes of this Issue Price Certificate: (a) Holding Period means the period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day after the Sale Date, or (ii) the date on which Members of the Distribution Group have sold at least 10% of such Maturity to the Public at one or more prices, none of which is higher than the Initial Offering Price for such Maturity. (b) Issuer means the City of Ames, Iowa. (c) Maturity means Bonds with the same credit and payment terms. Any Bonds with different maturity dates, or with the same maturity date but different stated interest rates, are treated as separate Maturities. (d) Member of the Distribution Group means (i) any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public). (e) Public means any person (i.e., an individual, trust, estate, partnership, association, company, or corporation) other than a Member of the Distribution Group or a related party to a Member of the Distribution Group. A person is a “related party” to a Member of the Distribution Group if the Member of the Distribution Group and that person are subject, directly or indirectly, to (i) at least 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another), (ii) more than 50% DRA F T EXHIBIT 1-B to TERMS OF OFFERING common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (iii) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other). (f) Sale Date means the first day on which there is a binding contract in writing for the sale of the respective Maturity. The Sale Date of each Maturity was August 10, 2021. The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents [NAME OF UNDERWRITING FIRM] interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the Issuer with respect to certain of the representations set forth in the Closing Certificate and with respect to compliance with the federal income tax rules affecting the Bonds, and by Dorsey & Whitney LLP in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. [UNDERWRITER] By:_______________________________________ Name:_____________________________________ Dated: September 9, 2021 DRA F T EXHIBIT 1-B to TERMS OF OFFERING SCHEDULE A INITIAL OFFERING PRICES OF THE BONDS (Attached) DRA F T EXHIBIT 1-B to TERMS OF OFFERING SCHEDULE B PRICING WIRE (Attached) DRA F T EXHIBIT 1-B to TERMS OF OFFERING SCHEDULE C SALES OF AT LEAST 10% OF MATURITY TO THE PUBLIC ON THE SALE DATE AT THE INITIAL OFFERING PRICE (Attached) DRA F T 1 PRELIMINARY OFFICIAL STATEMENT CITY OF AMES, IOWA $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A INTRODUCTION This Preliminary Official Statement contains information relating to the City of Ames, Iowa (the “City”) and its issuance of $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A (the “Bonds”). This Preliminary Official Statement has been authorized by the City and may be distributed in connection with the sale of the Bonds authorized therein. Inquiries may be made to the City’s Municipal Advisor, PFM Financial Advisors LLC (the “Municipal Advisor”), 801 Grand Avenue, Suite 3300, Des Moines, Iowa, 50309, telephone 515-243-2600. Information may also be obtained from Mr. Duane Pitcher, Director of Finance, City of Ames, 515 Clark Avenue, Ames, Iowa, 50010, telephone 515-239-5114. AUTHORITY AND PURPOSE The Bonds are being issued pursuant to Division III of Chapters 384 of the Code of Iowa and a resolution to be adopted by the City Council of the City. The Bonds are being issued for the purpose of paying the cost, to that extent, of constructing improvements to streets, installing traffic control improvements, and constructing sewer improvements. In addition, the Bonds are being issued to current refund on September 9, 2021, $11,055,000 of the outstanding General Obligation Corporate Purpose Bonds, Series 2013, originally dated May 30, 2013, maturing June 1, 2022 through June 1, 2032 (the “Series 2013 Bonds). Call Date Call Price Maturities to e Refunded Principal Amoun Coupon 9/9/2021 100% 6/1/2022 $1,295,000 3.000% 6/1/2023 1,335,000 3.000% 6/1/2024 1,370,000 3.000% 6/1/2025 1,415,000 3.000% 6/1/2026 735,000 3.000% 6/1/2027 755,000 3.000% 6/1/2028 780,000 3.000% 6/1/2029 805,000 3.000% 6/1/2030 830,000 3.000% 6/1/2031 855,000 3.000% 6/1/2032 880,000 3.125% $11,055,000 The estimated sources and uses of the Bonds are as follows: Sources of Funds* Par Amount of Bonds $22,405,000.00 Uses of Funds* Deposit to Project Fund $11,055,400.00 Refunding of Series 2013 Bonds 11,055,000.00 Underwriter’s Discoun 201,645.00 Cost of Issuance and Contingency 92,955.00 Total Uses $22,405,000.00 * Preliminary; subject to change. DRA F T 2 INTEREST ON THE BONDS Interest on the Bonds will be payable on June 1, 2022 and semiannually on the 1st day of December and June thereafter. Principal and interest shall be paid to the registered holder of a bond as shown on the records of ownership maintained by the Registrar as of the 15th day of the month preceding the interest payment date (the “Record Date”). Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the Municipal Securities Rulemaking Board. OPTIONAL REDEMPTION Bonds due after June 1, 2029 will be subject to call prior to maturity in whole, or from time to time in part, in any order of maturity and within a maturity by lot on said date or on any date thereafter at the option of the City, upon terms of par plus accrued interest to date of call. Written notice of such call shall be given at least thirty (30) days prior to the date fixed for redemption to the registered owners of the Bonds to be redeemed at the address shown on the registration books. PAYMENT OF AND SECURITY FOR THE BONDS The Bonds are general obligations of the City and the unlimited taxing powers of the City are irrevocably pledged for their payment. Upon issuance of the Bonds, the City will levy taxes for the years and in amounts sufficient to provide 100% of annual principal and interest due on the Bonds. If, however, the amount credited to the debt service fund for payment of the Bonds is insufficient to pay principal and interest, whether from transfers or from original levies, the City must use funds in its treasury and is required to levy ad valorem taxes upon all taxable property in the City without limit as to rate or amount sufficient to pay the debt service deficiency. Nothing in the resolution authorizing the Bonds prohibits or limits the ability of the City to use legally available moneys other than the proceeds of the general ad valorem property taxes levied, as described in the preceding paragraph, to pay all or any portion of the principal of or interest on the Bonds. If and to the extent such other legally available moneys are used to pay the principal of or interest on the Bonds, the City may, but shall not be required to, (a) reduce the amount of taxes levied for such purpose, as described in the preceding paragraph; or (b) use proceeds of taxes levied, as described in the preceding paragraph, to reimburse the fund or account from which such other legally available moneys are withdrawn for the amount withdrawn from such fund or account to pay the principal of or interest on the Bonds. The resolution authorizing the Bonds does not restrict the City’s ability to issue or incur additional general obligation debt, although issuance of additional general obligation debt is subject to the same constitutional and statutory limitations that apply to the issuance of the Bonds. For a further description of the City’s outstanding general obligation debt upon issuance of the Bonds and the annual debt service on the Bonds, see “DIRECT DEBT” under “CITY INDEBTEDNESS” included in APPENDIX A to this Preliminary Official Statement. For a description of certain constitutional and statutory limits on the issuance of general obligation debt, see “DEBT LIMIT” under “CITY INDEBTEDNESS” included in APPENDIX A to this Preliminary Official Statement. BOOK-ENTRY-ONLY ISSUANCE The information contained in the following paragraphs of this subsection “BOOK-ENTRY-ONLY ISSUANCE” has been extracted from a schedule prepared by Depository Trust Company (“DTC”) entitled “SAMPLE OFFERING DOCUMENT LANGUAGE DESCRIBING BOOK-ENTRY-ONLY ISSUANCE”. The information in this section concerning DTC and DTC’s book-entry-only system has been obtained from sources that the City believes to be reliable, but the City takes no responsibility for the accuracy thereof. The Depository Trust Company (“DTC”), New York, NY, will act as securities depository for the securities (the “Securities”). The Securities will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully- registered Security certificate will be issued for each issue of the Securities, each in the aggregate principal amount of such issue, and will be deposited with DTC. If, however, the aggregate principal amount of any issue exceeds $500 million, one certificate will be issued with respect to each $500 million of principal amount, and an additional certificate will be issued with respect to any remaining principal amount of such issue. DRA F T 3 DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments from over 100 countries that DTC’s participants (the “Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry-only transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (the “Indirect Participants”). DTC has S&P Global Ratings: AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. Purchases of Securities under the DTC system must be made by or through Direct Participants, which will receive a credit for the Securities on DTC’s records. The ownership interest of each actual purchaser of each Security (the “Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book-entry-only system for the Securities is discontinued. To facilitate subsequent transfers, all Securities deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Securities; DTC’s records reflect only the identity of the Direct Participants to whose accounts such Securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Securities may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed amendments to the Security documents. For example, Beneficial Owners of Securities may wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. Neither DTC nor Cede & Co., nor any other DTC nominee, will consent or vote with respect to Securities unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the City as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts Securities are credited on the record date identified in a listing attached to the Omnibus Proxy. DRA F T 4 Redemption proceeds, distributions, and dividend payments on the Securities will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the City or Agent, on payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, Agent, or the City, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC, is the responsibility of the City or Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. A Beneficial Owner shall give notice to elect to have its Securities purchased or tendered, through its Participant, to Remarketing Agent, and shall effect delivery of such Securities by causing the Direct Participant to transfer the Participant’s interest in the Securities, on DTC’s records, to Remarketing Agent. The requirement for physical delivery of Securities in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Securities are transferred by Direct Participants on DTC’s records and followed by a book-entry-only credit of tendered Securities to Remarketing Agent’s DTC account. DTC may discontinue providing its services as depository with respect to the Securities at any time by giving reasonable notice to the City or Agent. Under such circumstances, in the event that a successor depository is not obtained, Security certificates are required to be printed and delivered. The City may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository). In that event, Security certificates will be printed and delivered to DTC. The information in this section concerning DTC and DTC’s book-entry-only system has been obtained from sources that the City believes to be reliable, but the City takes no responsibility for the accuracy thereof. FUTURE FINANCING The City does not anticipate issuing any additional general obligation debt within 90 days of this Official Statement. However, the City does anticipate issuing a sewer revenue loan agreement with the Iowa Finance Authority via the State Revolving Fund clean water loan program, in the approximate amount of $9,095,000 in fall 2021. The loan agreement will be repaid solely with net revenues of the City’s sanitary sewer utility system. LITIGATION The City is not aware of any threatened or pending litigation affecting the validity of the Bonds or the City’s ability to meet its financial obligations. At closing, the City will certify that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the Bonds, or the titles of the City officers to their respective positions, or the validity of the Bonds, or the power and duty of the Bonds to provide and apply adequate taxes for the full and prompt payment of the principal and interest of the Bonds, and that no measure or provision for the authorization or issuance of the Bonds has been repealed or rescinded.” DEBT PAYMENT HISTORY The City knows of no instance in which they have defaulted in the payment of principal and interest on its debt. LEGAL MATTERS Legal matters incident to the authorization, issuance and sale of the Bonds and with regard to the tax-exempt or taxable status of the interest thereon (see “TAX EXEMPTION AND RELATED TAX MATTERS” included herein) are subject to the approving legal opinion of Dorsey & Whitney LLP, Des Moines, Iowa, Bond Counsel, a form of which is attached hereto as APPENDIX B to this Preliminary Official Statement. Signed copies of the opinion, dated and premised on law DRA F T 5 in effect as of the date of original delivery of the Bonds, will be delivered to the successful bidder (the “Purchaser”) at the time of such original delivery. The Bonds are offered subject to prior sale and to the approval of legality of the Bonds by Bond Counsel. Bond Counsel has not been engaged, nor has it undertaken, to prepare or to independently verify the accuracy of the Preliminary Official Statement, including but not limited to financial or statistical information of the City and risks associated with the purchase of the Bonds, except Bond Counsel has reviewed the information and statements contained in the Preliminary Official Statement under “TAX EXEMPTION AND RELATED TAX MATTERS” and “LEGAL MATTERS” included herein, insofar as such statements contained under such captions purport to summarize certain provisions of the Internal Revenue Code of 1986, the Bonds and any opinions rendered by Bond Counsel. Bond Counsel has prepared the documents contained in APPENDIX B and APPENDIX D to this Preliminary Official Statement. TAX EXEMPTION AND RELATED TAX MATTERS Federal Income Tax Exemption: The opinion of Bond Counsel will state that under present laws and rulings, interest on the Bonds (including any original issue discount properly allocable to an owner thereof) is excluded from gross income for federal income tax purposes, and is not treated as a preference item in calculating the federal alternative minimum tax imposed under the Internal Revenue Code of 1986 (the “Code”). The opinion set forth in the preceding sentence will be subject to the condition that the City comply with all requirements of the Code that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes. Failure to comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income for federal income tax purposes to be retroactive to the date of issuance of the Bonds. In the resolution authorizing the issuance of the Bonds, the City will covenant to comply with all such requirements. There may be certain other federal tax consequences to the ownership of the Bonds by certain taxpayers, including without limitation, corporations subject to the branch profits tax, financial institutions, certain insurance companies, certain S corporations, individual recipients of Social Security and Railroad Retirement benefits and taxpayers who may be deemed to have incurred (or continued) indebtedness to purchase or carry tax-exempt obligations. Bond Counsel will express no opinion with respect to other federal tax consequences to owners of the Bonds. Prospective purchasers of the Bonds should consult with their tax advisors as to such matters. State of Iowa Income Taxes: The interest on the Bonds is NOT exempt from present Iowa income taxes. Proposed Changes in Federal and State Tax Law: From time to time, there are Presidential proposals, proposals of various federal committees, and legislative proposals in the Congress and in the states that, if enacted, could alter or amend the federal and state tax matters referred to herein or adversely affect the marketability or market value of the Bonds or otherwise prevent holders of the Bonds from realizing the full benefit of the tax exemption of interest on the Bonds. Further, such proposals may impact the marketability or market value of the Bonds simply by being proposed. No prediction is made whether such provisions will be enacted as proposed or concerning other future legislation affecting the tax treatment of interest on the Bonds. In addition, regulatory actions are from time to time announced or proposed and litigation is threatened or commenced which, if implemented or concluded in a particular manner, could adversely affect the market value, marketability or tax exempt status of the Bonds. It cannot be predicted whether any such regulatory action will be implemented, how any particular litigation or judicial action will be resolved, or whether the Bonds would be impacted thereby. Purchasers of the Bonds should consult their tax advisors regarding any pending or proposed legislation, regulatory initiatives or litigation. The opinions expressed by Bond Counsel are based upon existing legislation and regulations as interpreted by relevant judicial and regulatory authorities as of the date of issuance and delivery of the Bonds, and Bond Counsel has expressed no opinion as of any date subsequent thereto or with respect to any proposed or pending legislation, regulatory initiatives or litigation. NOT Qualified Tax-Exempt Obligations: In the resolution authorizing the issuance of the Bonds, the City will NOT designate the Bonds as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code relating to the ability of financial institutions to deduct from income for federal income tax purposes a portion of the interest DRA F T 6 expense that is allocable to tax-exempt obligations. In the opinion of Bond Counsel, the Bonds are NOT “qualified tax- exempt obligations” within the meaning of Section 265(b)(3) of the Code. Original Issue Discount: The Bonds maturing in the years ____ through _____ (collectively, the “Discount Bonds”) are being sold at a discount from the principal amount payable on such Bonds at maturity. The difference between the price at which a substantial amount of the Discount Bonds of a given maturity is first sold to the public (the “Issue Price”) and the principal amount payable at maturity constitutes “original issue discount” under the Code. The amount of original issue discount that accrues to a holder of a Discount Bond under section 1288 of the Code is excluded from federal gross income to the same extent that stated interest on such Discount Bond would be so excluded. The amount of the original issue discount that accrues with respect to a Discount Bond under section 1288 is added to the owner’s federal tax basis in determining gain or loss upon disposition of such Discount Bond (whether by sale, exchange, redemption or payment at maturity). Interest in the form of original issue discount accrues under section 1288 pursuant to a constant yield method that reflects semiannual compounding on dates that are determined by reference to the maturity date of the Discount Bond. The amount of original issue discount that accrues for any particular semiannual accrual period generally is equal to the excess of (1) the product of (a) one-half of the yield on such Discount Bonds (adjusted as necessary for an initial short period) and (b) the adjusted issue price of such Discount Bonds, over (2) the amount of stated interest actually payable. For purposes of the preceding sentence, the adjusted issue price is determined by adding to the Issue Price for such Discount Bonds the original issue discount that is treated as having accrued during all prior semiannual accrual periods. If a Discount Bond is sold or otherwise disposed of between semiannual compounding dates, then the original issue discount that would have accrued for that semiannual accrual period for federal income tax purposes is allocated ratably to the days in such accrual period. An owner of a Discount Bond who disposes of such Discount Bond prior to maturity should consult owner’s tax advisor as to the amount of original issue discount accrued over the period held and the amount of taxable gain or loss upon the sale or other disposition of such Discount Bond prior to maturity. Owners who purchase Discount Bonds in the initial public offering but at a price different than the Issue Price should consult their own tax advisors with respect to the tax consequences of the ownership of the Discount Bonds. The Code contains provisions relating to the accrual of original issue discount in the case of subsequent purchasers of bonds such as the Discount Bonds. Owners who do not purchase Discount Bonds in the initial offering should consult their own tax advisors with respect to the tax consequences of the ownership of the Discount Bonds. Original issue discount that accrues in each year to an owner of a Discount Bond may result in collateral federal income tax consequences to certain taxpayers. No opinion is expressed as to state and local income tax treatment of original issue discount. All owners of Discount Bonds should consult their own tax advisors with respect to the federal, state, local and foreign tax consequences associated with the purchase, ownership, redemption, sale or other disposition of Discount Bonds. Original Issue Premium: The Bonds maturing in the years ____ through _____ (collectively, the “Premium Bonds”) are being issued at a premium to the principal amount payable at maturity. Except in the case of dealers, which are subject to special rules, Bondholders who acquire the Bonds at a premium must, from time to time, reduce their federal tax bases for the Bonds for purposes of determining gain or loss on the sale or payment of such Bonds. Premium generally is amortized for federal income tax purposes on the basis of a bondholder’s constant yield to maturity or to certain call dates with semiannual compounding. Bondholders who acquire any Bonds at a premium might recognize taxable gain upon sale of the Bonds, even if such Bonds are sold for an amount equal to or less than their original cost. Amortized premium is not deductible for federal income tax purposes. Bondholders who acquire any Bonds at a premium should consult their tax advisors concerning the calculation of bond premium and the timing and rate of premium amortization, as well as the state and local tax consequences of owning and selling the Bonds acquired at a premium. DRA F T 7 BONDHOLDER’S RISKS An investment in the Bonds involves an element of risk. In order to identify risk factors and make an informed investment decision, potential investors should be thoroughly familiar with this entire Preliminary Official Statement (including the appendices hereto) in order to make a judgment as to whether the Bonds are an appropriate investment. Global Health Emergency Risk: The City is monitoring daily developments and directives of federal, state and local officials to determine what precautions and procedures may need to be implemented by the City in the event of the continued spread of COVID-19. Some procedures and precautions resulting from the spread of COVID-19 with respect to operations, personnel and services may be mandated by federal and/or state entities. The continued spread of COVID- 19 in the future and the continued financial impact specifically on the City, and financial markets generally, may have the following adverse financial impacts: (i) limit the ability of the City to conduct its operations and provide services on a timely basis, if at all, (ii) significantly increase the cost of operations of the City, (iii) significantly impact the ability of the City to provide personnel to carry out the services routinely provided by the City; (iv) affect financial markets and consequently materially adversely affect the returns on and value of the City’s investment portfolio, and (v) affect the secondary market with respect to the Bonds. Finally, the current spread of COVID-19 is altering the behavior of businesses and people in a manner that may have negative effects on economic activity, and therefore adversely affect the financial condition of the City, either directly or indirectly. Tax Levy Procedures: The Bonds are general obligations of the City, payable from and secured by a continuing ad- valorem tax levied against all of the taxable property within the boundaries of the City. As part of the budgetary process of the City, each fiscal year the City will have an obligation to request a debt service levy to be applied against all of the taxable property within the boundaries of the City. A failure on the part of the City to make a timely levy request, or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service on the Bond for a particular fiscal year, may cause Bondholders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. Changes in Property Taxation: The Bonds are general obligations of the City secured by an unlimited ad valorem property tax as described more fully in the “PAYMENT OF AND SECURITY FOR THE BONDS” herein. Prior State Public Health Emergency Declarations relative to the 2020 COVID-19 pandemic had temporarily suspended the provisions that required the imposition of penalty and interest for delay in property tax payments and directed that no such penalty or interest could be imposed for the duration of the declarations and any future extension of the suspension. It is impossible to predict whether the declarations or any amendments to or extensions thereof would have a material effect on the City’s ability to collect property taxes necessary for the payment of principal and interest on the Bonds. From time to time the Iowa General Assembly has altered the method of property taxation and could do so again. Any alteration in property taxation structure could affect property tax revenues available to pay the Bonds. Historically, the Iowa General Assembly has applied changes in property taxation structure on a prospective basis; however, there is no assurance that future changes in property taxation structure by the Iowa General Assembly will not be retroactive. It is impossible to predict the outcome of future property tax changes by the Iowa General Assembly or their potential impact on the Bonds and the security for the Bonds. Matters Relating to Enforceability of Agreements: Bondholders shall have and possess all the rights of action and remedies afforded by the common law, the Constitution and statutes of the State of Iowa and of the United States of America for the enforcement of payment of the Bonds, including, but not limited to, the right to a proceeding in law or in equity by suit, action or mandamus to enforce and compel performance of the duties required by Iowa law and the resolution for the Bonds. The practical realization of any rights upon any default will depend upon the exercise of various remedies specified in the Loan Agreements. The remedies available to the Bondholders upon an event of default under the Loan Agreements, in certain respects, may require judicial action, which is often subject to discretion and delay. Under existing law, including specifically the federal bankruptcy code, certain of the remedies specified in the Loan Agreements may not be readily available or may be limited. A court may decide not to order the specific performance of the covenants contained in these documents. The legal opinions to be delivered concurrently with the delivery of the Bonds will be qualified as to the enforceability of the various legal instruments by limitations imposed by general principles of equity and public policy and by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors generally. DRA F T 8 No representation is made, and no assurance is given, that the enforcement of any remedies will result in sufficient funds to pay all amounts due under the resolution for the Bonds or the Loan Agreement, including principal of and interest on the Bonds. Secondary Market: There can be no guarantee there will be a secondary market for the Bonds or, if a secondary market exists, that such Bonds can be sold for any particular price. Occasionally, because of general market conditions or because of adverse history of economic prospects connected with a particular issue, secondary marketing practices in connection with a particular note or bond issue are suspended or terminated. Additionally, prices of bond or note issues for which a market is being made will depend upon then prevailing circumstances. Such prices could be substantially different from the original purchase price of the Bonds. EACH PROSPECTIVE PURCHASER IS RESPONSIBLE FOR ASSESSING THE MERITS AND RISKS OF AN INVESTMENT IN THE BONDS AND MUST BE ABLE TO BEAR THE ECONOMIC RISK OF SUCH INVESTMENT. THE SECONDARY MARKET FOR THE BONDS, IF ANY, COULD BE LIMITED. Rating Loss: Moody’s Investors Service (“Moody’s”) has assigned a rating of ‘___’ to the Bonds. Generally, a rating agency bases its rating on the information and materials furnished to it and on investigations, studies and assumptions of its own. There is no assurance the rating with continue for any given period of time, or that such rating will not be revised, suspended or withdrawn, if, in the judgment of Moody’s, circumstances so warrant. A revision, suspension or withdrawal of a rating may have an adverse effect on the market price of the Bonds. Bankruptcy and Insolvency: The rights and remedies provided in the resolution for the Bonds may be limited by and are subject to the provisions of federal bankruptcy laws, to other laws or equitable principles that may affect the enforcement of creditor’s rights, to the exercise of judicial discretion in appropriate cases and to limitations in legal remedies against exercise of judicial discretion in appropriate cases and to limitations on legal remedies against municipal corporations in the State of Iowa. The various opinions of counsel to be delivered with respect to the Bonds, and the resolution for the Bonds, including the opinion of Bond Counsel, will be similarly qualified. If the City were to file a petition under Chapter 9 of the Bankruptcy Code, the owners of the Bonds could be prohibited from taking any steps to enforce their rights under the resolution for the Bonds. In the event the City fails to comply with its covenants under the resolution for the Bonds or fails to make payments on the Bonds, there can be no assurance of the availability of remedies adequate to protect the interests of the holders of the Bonds. Under Iowa Code Chapter 76 sections 76.16 and 76.16A of the Act, as amended, a city, county, or other political subdivision may become a debtor under Chapter 9 of the Federal bankruptcy code, if it is rendered insolvent, as defined in 11 U.S.C. §101(32)(c), as a result of a debt involuntarily incurred. As used therein, “debt” means an obligation to pay money, other than pursuant to a valid and binding collective bargaining agreement or previously authorized bond issue, as to which the governing body of the city, county, or other political subdivision has made a specific finding set forth in a duly adopted resolution of each of the following: (1) all or a portion of such obligation will not be paid from available insurance proceeds and must be paid from an increase in general tax levy; (2) such increase in the general tax levy will result in a severe, adverse impact on the ability of the city, county, or political subdivision to exercise the powers granted to it under applicable law, including without limitation providing necessary services and promoting economic development; (3) as a result of such obligation, the city, county, or other political subdivision is unable to pay its debts as they become due; and (4) the debt is not an obligation to pay money to a city, county, entity organized pursuant to chapter 28E of the Code of Iowa, or other political subdivision. Forward-Looking Statements: This Preliminary Official Statement contains statements relating to future results that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. When used in this Preliminary Official Statement, the words “anticipated,” “plan,” “expect,” “projected,” “estimate,” “budget,” “pro forma,” “forecast,” “intend,” and similar expressions identify forward-looking statements. Any forward-looking statement is subject to uncertainty. Accordingly, such statements are subject to risks that could cause actual results to differ, possibly materially, from those contemplated in such forward-looking statements. Inevitably, some assumptions used to develop forward-looking statements will not be realized or unanticipated events and circumstances may occur. Therefore, investors should be aware that there are likely to be differences between forward-looking statements and the actual results. These differences could be material and could impact the availability of funds of the City to pay debt service when due on the Bonds. DRA F T 9 Cybersecurity: The City, like many other public and private entities, relies on a large and complex technology environment to conduct its operations. As such, it may face multiple cybersecurity threats including but not limited to, hacking, viruses, malware and other attacks on computer or other sensitive digital systems and networks. There can be no assurances that any security and operational control measures implemented by the City will be completely successful to guard against and prevent cyber threats and attacks. Failure to properly maintain functionality, control, security, and integrity of the City’s information systems could impact business operations and/or digital networks and systems and the costs of remedying any such damage could be significant. Along with significant liability claims or regulatory penalties, any security breach could have a material adverse impact on the City’s operations and financial condition. The City maintains insurance policies in the amount of $2,000,000 for the aggregate limit of liability to cover aspects of a cyber-attack. The City cannot predict whether these policies would be sufficient in the event of a cyber breach. However, the Bonds are secured by an unlimited ad valorem property tax as described more fully in the “PAYMENT OF AND SECURITY FOR THE BONDS” herein. Tax Matters and Loss of Tax Exemption: As discussed under “TAX EXEMPTION AND RELATED TAX MATTERS” herein, the interest on the Bonds could become includable in gross income for purposes of federal income taxation retroactive to the date of delivery of the Bonds, as a result of acts or omissions of the City in violation of its covenants in the resolution for the Bonds. Should such an event of taxability occur, the Bonds would not be subject to a special redemption and would remain outstanding until maturity or until redeemed under the redemption provisions contained in the Bonds, and there is no provision for an adjustment of the interest rate on the Bonds. It is possible that actions of the City after the closing of the Bonds will alter the tax-exempt status of the Bonds, and, in the extreme, remove the tax-exempt status from the Bonds. In that instance, the Bonds are not subject to mandatory prepayment, and the interest rate on the Bonds does not increase or otherwise reset. A determination of taxability on the Bonds, after closing of the Bonds, could materially adversely affect the value and marketability of the Bonds. DTC-Beneficial Owners: Beneficial Owners of the Bonds may experience some delay in the receipt of distributions of principal of and interest on the Bonds since such distributions will be forwarded by the Paying Agent to DTC and DTC will credit such distributions to the accounts of the Participants which will thereafter credit them to the accounts of the Beneficial Owner either directly or indirectly through indirect Participants. Neither the City nor the Paying Agent will have any responsibility or obligation to assure that any such notice or payment is forwarded by DTC to any Participants or by any Participant to any Beneficial Owner. In addition, since transactions in the Bonds can be effected only through DTC Participants, indirect participants and certain banks, the ability of a Beneficial Owner to pledge the Bonds to persons or entities that do not participate in the DTC system, or otherwise to take actions in respect of such Bonds, may be limited due to lack of a physical certificate. Beneficial Owners will be permitted to exercise the rights of registered Owners only indirectly through DTC and the Participants. See “BOOK-ENTRY-ONLY ISSUANCE.” Proposed Federal Tax Legislation: From time to time, Presidential proposals, federal legislative committee proposals or legislative proposals are made that would, if enacted, alter or amend one or more of the federal tax matters described herein in certain respects or would adversely affect the market value of the Bonds. It cannot be predicted whether or in what forms any of such proposals that may be introduced, may be enacted and there can be no assurance that such proposals will not apply to the Bonds. In addition, regulatory actions are from time to time announced or proposed, and litigation threatened or commenced, which if implemented or concluded in a particular manner, could adversely affect the market value, marketability or tax status of the Bonds. It cannot be predicted whether any such regulatory action will be implemented, how any particular litigation or judicial action will be resolved, or whether the Bonds would be impacted thereby. See “TAX EXEMPTION AND RELATED TAX MATTERS” included herein. Pension and Other Post-Employment Benefits (“OPEB”) Information: The City contributes to the Iowa Public Employees’ Retirement System (“IPERS”), which is a state-wide, multiple-employer, cost-sharing defined benefit pension plan administered by the State of Iowa. IPERS provides retirement and death benefits which are established by State statute to plan members and beneficiaries. All full-time employees of the City are required to participate in IPERS. IPERS plan members are required to contribute a percentage of their annual salary, in addition to the City being required to make annual contributions to IPERS. Contribution amounts are set by State statute. The IPERS Comprehensive Annual Financial Report for its Fiscal Year ended June 30, 2020 (the “IPERS REPORT”) indicates that as of June 30, 2020, the DRA F T 10 date of the most recent actuarial valuation for IPERS, the funded ratio of IPERS was 83.96%, and the unfunded actuarial liability was $6.587 billion. The IPERS REPORT identifies the IPERS Net Pension Liability at June 30, 2020, at approximately $7.024 billion, while its net pension liability at June 30, 2019 was approximately $5.790 billion. The IPERS REPORT is available on the IPERS website, or by contacting IPERS at 7401 Register Drive, Des Moines, IA 50321. See the City’s Independent Auditor’s Reports for the Fiscal Year ended June 30, 2020 included in APPENDIX C to this Preliminary Official Statement for additional information on IPERS. In the Fiscal Year ended June 30, 2020, the City’s IPERS contribution totaled approximately $9,139,672. The City is current in its obligations to IPERS. Pursuant to Governmental Accounting Standards Board Statement No. 68, IPERS has allocated the net pension liability among its members, with the City’s identified portion at June 30, 2020 at approximately $67,695,565. While the City’s contributions to IPERS are controlled by state law, there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the future, which may have the effect of negatively impacting the finances of the City. See “EMPLOYEES AND PENSIONS” included in APPENDIX A to this Preliminary Official Statement, and “JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT” included in APPENDIX C to this Preliminary Official Statement for additional information on pension and liabilities of the City. Bond Counsel, the Municipal Advisor and the City undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from the IPERS discussed above or included on the IPERS website, including, but not limited to, updates of such information on the State Auditor’s website or links to other Internet sites accessed through the IPERS website. The City contributes to Municipal Fire and Police Retirement System of Iowa (“MFPRSI”), which is a multiple-employer cost-sharing defined benefit pension plan for fire fighters and police officers, administered under Chapter 411 of the Code of Iowa. MFPRSI plan members are required to contribute a percentage of their annual salary, in addition to the City being required to make annual contributions to MFPRSI. Contribution amounts are set by State statute. The MFPRSI Actuarial Valuation Report indicates that as of July 1, 2020, the date of the most recent actuarial valuation for MFPRSI, the funded ratio of MFPRSI was 79.9%, and the unfunded actuarial liability was $680.3 million. The MFPRSI Financial Statements for its Fiscal Year ended June 30, 2020 (the “MFPRSI Report”) identifies the MFPRSI Net Pension Liability at June 30, 2020, at approximately $797.6 million, while its net pension liability at June 30, 2019 was approximately $655.9 million. The MFPRSI Report is available on the MFPRSI website. See “EMPLOYEES AND PENSIONS” included in APPENDIX A to this Preliminary Official Statement, and “JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT” included in APPENDIX C to this Preliminary Official Statement for additional information on MFPRSI. In the Fiscal Year ended June 30, 2020, the City’s MFPRSI contribution totaled approximately $2,076,217. The City is current in its obligations to MFPRSI. Pursuant to Governmental Accounting Standards Board Statement No. 68, MFPRSI has allocated the net pension liability among its members, with the City’s identified portion at June 30, 2020 at approximately $17,470,814. While the City’s contributions to MFPRSI are controlled by state law, there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the future, which may have the effect of negatively impacting the finances of the City. See “EMPLOYEES AND PENSIONS” included in APPENDIX A to this Preliminary Official Statement, and “JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT” included in APPENDIX C to this Preliminary Official Statement for additional information on pension and liabilities of the City. Bond Counsel, the Municipal Advisor and the City undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from the MFPRSI discussed above or included on the MFPRSI website, including, but not limited to, updates of such information on the State Auditor’s website or links to other Internet sites accessed through the MFPRSI website. The City and hospital provide health and dental care benefits for retirees and their beneficiaries through a single-employer, defined benefit plan. The hospital also provides a life insurance benefit. The City has the authority to establish and amend benefit provisions of the plan. Participants must be age 55 or older. The contribution requirements of the City are established and may be amended by the City. Plan members are currently not required to contribute. The City funds on DRA F T 11 a pay-as-you-go basis. For additional information, see “OTHER POST-EMPLOYMENT BENEFITS” included in APPENDIX A to this Preliminary Official Statement, and “JUNE 30, 2019 COMPREHENSIVE ANNUAL FINANCIAL REPORT” included in APPENDIX C to this Preliminary Official Statement. Summary: The foregoing is intended only as a summary of certain risk factors attendant to an investment in the Bonds. In order for potential investors to identify risk factors and make an informed investment decision, potential investors should become thoroughly familiar with this entire Preliminary Official Statement and the appendices hereto. RATING The City has requested a rating on the Bonds from Moody’s. Currently, Moody’s rates the City’s outstanding General Obligation long-term debt ‘Aa1’. The existing rating on long-term debt reflects only the view of the rating agency and with any explanation of the significance of such rating may only be obtained from Moody’s. There is no assurance that such rating will continue for any period of time or that it will not be revised or withdrawn. Any revision or withdrawal of the rating may have an effect on the market price of the Bonds. MUNICIPAL ADVISOR The City has retained PFM Financial Advisors LLC, Des Moines, Iowa as Municipal Advisor in connection with the preparation of the issuance of the Bonds. In preparing the Preliminary Official Statement, the Municipal Advisor has relied on government officials and other sources to provide accurate information for disclosure purposes. The Municipal Advisor is not obligated to undertake, and has not undertaken, an independent verification of the accuracy, completeness or fairness of the information contained in this Preliminary Official Statement. PFM Financial Advisors LLC is an independent advisory firm and is not engaged in the business of underwriting, trading or distributing municipal securities or other public securities. CONTINUING DISCLOSURE The City will covenant in a Continuing Disclosure Certificate for the benefit of the owners and beneficial owners of the Bonds to provide annually certain financial information and operating data relating to the City (the “Annual Report”), and to provide notices of the occurrence of certain enumerated events. The Annual Report is to be filed by the City no later than June 30th after the close of each fiscal year, commencing with the fiscal year ending June 30, 2020, with the Municipal Securities Rulemaking Board, at its internet repository named “Electronic Municipal Market Access” (“EMMA”). The notices of events, if any, are also to be filed with EMMA. See “FORM OF CONTINUING DISCLOSURE CERTIFICATE” included in APPENDIX D to this Preliminary Official Statement The specific nature of the information to be contained in the Annual Report or the notices of events, and the manner in which such materials are to be filed, are summarized in the “FORM OF CONTINUING DISCLOSURE CERTIFICATE.” These covenants have been made in order to assist the Underwriter in complying with SEC Rule 15c2-12(b)(5) (the “Rule”). In accordance with the reporting requirements of paragraph (f)(3) of the Rule, within the past five years, the City failed to timely file a notice of bond call for the redemption of the City’s General Obligation Corporate Purpose Bonds, Series 2009B. Regarding the Mary Greeley Medical Center’s (the “Medical Center”) the quarterly financials for the quarter ended September 30, 2019 were filed one day late. Breach of the undertakings will not constitute a default or an “Event of Default” under the Bonds or the resolution for the Bonds. A broker or dealer is to consider a known breach of the undertakings, however, before recommending the purchase or sale of the Bonds in the secondary market. Thus, a failure on the part of the City to observe the undertakings may adversely affect the transferability and liquidity of the Bonds and their market price. DRA F T 12 FINANCIAL STATEMENTS The City’s “JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT”, as prepared by City management and audited by a certified public accountant, is reproduced as APPENDIX C. The City’s certified public accountant has not consented to distribution of the audited financial statements and has not undertaken added review of their presentation. Further information regarding financial performance and copies of the City’s prior Comprehensive Annual Financial Report may be obtained from PFM Financial Advisors LLC. CERTIFICATION The City has authorized the distribution of this Preliminary Official Statement for use in connection with the initial sale of the Bonds. I have reviewed the information contained within the Preliminary Official Statement prepared on behalf of the City by PFM Financial Advisors LLC, Des Moines, Iowa, and to the best of my knowledge, information and belief, said Preliminary Official Statement does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading regarding the issuance of $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A. CITY OF AMES, IOWA /s/ Duane Pitcher, Director of Finance * Preliminary; subject to change. DRA F T APPENDIX A GENERAL INFORMATION ABOUT THE CITY OF AMES, IOWA The $22,405,000* GENERAL OBLIGATION CORPORATE PURPOSE AND REFUNDING BONDS, SERIES 2021A (the “Bonds”) are general obligations of the City of Ames, Iowa (the “City”) for which the City will pledge its power to levy direct ad valorem taxes against all taxable property within the City without limitation as to rate or amount to the repayment of the Bonds. * Preliminary, subject to change. DRA F T A-1 CITY PROPERTY VALUATIONS IOWA PROPERTY VALUATIONS In compliance with Section 441.21 of the Code of Iowa, the State Director of Revenue annually directs the county auditors to apply prescribed statutory percentages to the assessments of certain categories of real property. The Story County auditors adjusted the final Actual Values for 2020. The reduced values, determined after the application of rollback percentages, are the taxable values subject to tax levy. For assessment year 2020, the taxable value rollback rate was 56.4094% of actual value for residential property; 67.5000% of actual value for multiresidential property; 84.0305% of actual value for agricultural property; 90.0000% of actual value for commercial, industrial, and railroad property, and 98.5489 of actual value for utility property. The Legislature’s intent has been to limit the growth of statewide taxable valuations for the specific classes of property to 3% annually. Political subdivisions whose taxable values are thus reduced or are unusually low in growth are allowed to appeal the valuations to the State Appeal Board, in order to continue to fund present services. PROPERTY VALUATIONS (1/1/2020 Valuations for Taxes Payable July 1, 2021 through June 30, 2022) 100% Actual Value Taxable Value (With Rollback) Residential $3,681,243,300 $2,076,567,110 Commercial 917,809,140 819,752,150 Industrial 158,198,170 140,542,410 Multiresidential 299,137,800 201,918,142 Railroads 11,226,469 10,103,822 Utilities w/o Gas & Electric 3,266,537 3,219,137 Gross valuation $5,070,881,416 $3,252,102,771 Less military exemption (2,031,644) (2,031,644) Net valuation $5,068,849,772 $3,250,071,127 TIF Increment $81,120,190 1) $81,120,190 Taxed separately Ag. Land & Building $4,013,522 $3,371,719 Gas & Electric Utilities $37,540,505 $7,654,742 1) Excludes $5,378 of Ag Increment. 2020 GROSS TAXABLE VALUATION BY CLASS OF PROPERTY 1) Taxable Valuation Percent of Total Residential $2,076,567,110 63.70% Multiresidential 201,918,142 6.19% Gas & Electric Utilities 7,654,742 0.24% Commercial, Industrial, Railroads, Utility 973,617,519 29.87% Total Gross Taxable Valuation $3,259,757,513 100.00% 1) Excludes Taxable TIF Increment and Ag. Land & Buildings. DRA F T A-2 TREND OF VALUATIONS Assessment Yea Payable Fiscal Yea 100% Actual Valuation Taxable Valuation (With Rollback) Taxable TIF Incremen 2016 2017-18 $4,184,550,434 $2,701,440,748 $30,501,176 2017 2018-19 4,637,521,835 2,914,741,622 34,554,637 2018 2019-20 4,842,735,118 3,079,908,598 45,584,078 2019 2020-21 5,026,796,234 3,112,286,020 75,857,137 2020 2021-22 5,191,529,367 3,257,725,869 81,120,190 The 100% Actual Valuation, before rollback and after the reduction of military exemption, includes Ag. Land & Buildings, TIF Increment and Gas & Electric Utilities. The Taxable Valuation, with the rollback and after the reduction of military exemption, includes Gas & Electric Utilities and excludes Ag. Land & Buildings and Taxable TIF Increment. Iowa cities certify operating levies against Taxable Valuation excluding Taxable TIF Increment and debt service levies are certified against Taxable Valuation including the Taxable TIF Increment. LARGER TAXPAYERS Set forth in the following table are the persons or entities which represent larger taxpayers within the boundaries of the City, as provided by the Story County Auditor’s office. No independent investigation has been made of and no representation is made herein as to the financial condition of any of the taxpayers listed below or that such taxpayers will continue to maintain their status as major taxpayers in the City. With the exception of the electric and natural gas provider noted below (which is subject to an excise tax in accordance with Iowa Code chapter 437A), the City’s mill levy is uniformly applicable to all of the properties included in the table, and thus taxes expected to be received by the City from such taxpayers will be in proportion to the assessed valuations of the properties. The total tax bill for each of the properties is dependent upon the mill levies of the other taxing entities which overlap the properties. Taxpaye 1) Type of Property/Business 1/1/2020 2) Taxable Valuation Iowa State University Research Park Commercial $66,799,716 Barilla America Inc. Industrial 49,273,616 Campus Investors IS LLC Commercial 36,834,293 Clinic Building Company, Inc. Commercial 33,471,630 FPA6 University West LLC Commercial 25,206,223 GPT Ames Owner LLC Commercial 21,346,650 Dayton Park LLC Commercial 20,717,133 ACA Stadium View Student Housing District Multiresidential 20,166,373 CB at Ames LLC Multiresidential 17,986,442 Tailwind 1854 Madison LLC Commercial 16,748,303 1) This list represents some of the larger taxpayers in the City, not necessarily the 10 largest taxpayers. 2) The January 1, 2020 Taxable valuations listed represents only those valuations associated with the title holder and may not necessarily represent the entire taxable valuation. Source: Story County Auditor DRA F T A-3 PROPERTY TAX LEGISLATION From time to time, legislative proposals are pending in Congress and the Iowa General Assembly that would, if enacted, alter or amend one or more of the property tax matters described herein. It cannot be predicted whether or in what forms any of such proposals, either pending or that may be introduced, may be enacted, and there can be no assurance that such proposals will not apply to valuation, assessment or levy procedures for taxes levied by the City or have an adverse impact on standing appropriations or the future tax collections of the City. Purchasers of the Bonds should consult their tax advisors regarding any pending or proposed federal or state tax legislation. The opinions expressed by Bond Counsel are based upon existing legislation as of the date of issuance and delivery of the Bonds and Bond Counsel has expressed no opinion as of any date subsequent thereto or with respect to any pending federal or state tax legislation. During the 2019 legislative session, the Iowa General Assembly enacted Senate File 634 (the “2019 Act”). This bill modifies the process for hearing and approval of the total maximum property tax dollars under certain levies in the City's budget. The bill also includes a provision that will require the affirmative vote of 2/3 of the City Council when the maximum property tax dollars under these levies exceed an amount determined under a prescribed formula. The 2019 Act does not change the process for hearing and approval of the Debt Service Levy pledged for repayment of the Bonds. It is too early to evaluate the affect the 2019 Act will have on the overall financial position of the City or its ability to fund essential services. During the 2013 legislative session, the Iowa General Assembly enacted Senate File 295 (the “2013 Act”). Among other things, the Act (i) reduced the maximum annual taxable value growth percent, due to revaluation of existing residential and agricultural property to 3%, (ii) assigned a “rollback” (the percentage of a property’s value that is subject to tax) to commercial, industrial and railroad property of 90%, (iii) created a new property tax classification for multi-residential properties (apartments, nursing homes, assisted living facilities and certain other rental property) and assigned a declining rollback percentage to such properties for each year until the residential rollback percentage is reached in the 2022 assessment year, after which the rollback percentage for such properties will be equal to the residential rollback percentage each assessment year, and (iv) exempted a specified portion of the assessed value of telecommunication properties. During the 2021 legislative session, House File 418 (“HF 418”) was signed into law on March 8, 2021, applicable to valuations beginning January 1, 2022. HF 418 removes the multi-residential property classification by reclassifying certain properties as a subdivision of “residential” property. The multi-residential classification was created as part of the January 1, 2015 valuations and became unnecessary due to the equalization of the residential and multi-residential classifications as of January 1, 2022. The 2013 Act includes a standing appropriation to replace some of the tax revenues lost by local governments, including tax increment districts, resulting from the new rollback for commercial and industrial property. During the 2021 legislative session, Senate File 619 (“SF 619”) was signed into law on June 17, 2021, that phases out the standing appropriation payments to the City. In Fiscal Year 2020-21, the City collected $979,632 which would be phased out over five years starting in Fiscal Year 2022-23 through Fiscal Year 2026-27. The appropriation does not replace losses to local governments resulting from the 2013 Act’s provisions that reduce the annual revaluation growth limit for residential and agricultural properties to 3%, the gradual transition for multi-residential properties from the residential rollback percentage, or the reduction in the percentage of telecommunications property that is subject to taxation. Notwithstanding any decrease in property tax revenues that may result from the 2013 Act, the 2019 Act, HF 418 or SF 619, Iowa Code section 76.2 provides that when an Iowa political subdivision issues bonds, "the governing authority of these political subdivisions before issuing bonds shall, by resolution, provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds within a period named not exceeding twenty years. A certified copy of this resolution shall be filed with the county auditor or the auditors of the counties in which the political subdivision is located; and the filing shall make it a duty of the auditors to enter annually this levy for collection from the taxable property within the boundaries of the political subdivision until funds are realized to pay the bonds in full." DRA F T A-4 CITY INDEBTEDNESS DEBT LIMIT Article XI, Section 3 of the State of Iowa Constitution limits the amount of debt outstanding at any time of any county, municipality or other political subdivision to no more than 5% of the Actual Value of all taxable property within the corporate limits, as taken from the last state and county tax list. The debt limit for the City, based on its 2020 Actual Valuation currently applicable to the Fiscal Year 2021-22, is as follows: 2020 Gross Actual Valuation of Property $5,191,529,367 1) Legal Debt Limi of 5% 0.05 Legal Debt Limi $259,576,468 Less: G.O. Debt Subject to Debt Limi (74,585,000) * Less: Other Debt Subject to Debt Limi (780,000) 2) Net Debt Limi $184,211,468 * 1) Actual Valuation of property as reported by the Iowa Department of Management for the Fiscal Year 2021-22. 2) Other Debt Subject to Debt Limit includes TIF rebate agreement payments appropriated for Fiscal Year 2021-22. DIRECT DEBT General Obligation Debt Paid by Taxes and Other Sources 1) (Includes the Bonds) Date of Issue Original Amoun Purpose Final Maturity Principal Outstanding As of 09/09/21 5/13 $22,540,000 Corporate Purpose Improvements & Refunding 6/32 $0 2) 9/14 9,695,000 Corporate Purpose Improvements 6/26 3,990,000 9/15A 18,445,000 Corporate Purpose Improvements & Refunding 6/35 7,665,000 9/16A 11,650,000 Corporate Purpose Improvements & Refunding 6/28 5,450,000 9/17A 10,975,000 Corporate Purpose Improvements & Refunding 6/29 4,935,000 9/18A 7,490,000 Corporate Purpose Improvements 6/30 5,905,000 9/19A 10,775,000 Corporate Purpose Improvements 6/31 9,140,000 9/20A 17,865,000 Corporate Purpose Improvements & Refunding 6/32 15,095,000 9/21A 22,405,000* Corporate Purpose Improvements & Refunding 6/33 22,405,000 * Total $74,585,000 * 1) The City’s general obligation debt is abated by tax increment reimbursements, water revenues, sewer revenues, airport revenues, resource recovery revenues and special assessments. 2) The 2022 through 2032 maturities will be current refunded by the Bonds on September 9, 2021. * Preliminary; subject to change. DRA F T A-5 Annual Fiscal Year Debt Service Payments (Includes the Bonds) Existing Deb The Bonds Total Outstanding Fiscal Yea Principal Principal and Interes Principal* Principal and Interes * Principal* Principal and Interes * 2021-22 $7,245,000 $9,150,376 1) $2,345,000 $2,494,302 $9,590,000 $11,644,678 2022-23 6,880,000 8,378,344 2,315,000 2,510,534 9,195,000 10,888,878 2023-24 6,490,000 7,728,569 2,315,000 2,500,116 8,805,000 10,228,685 2024-25 5,795,000 6,779,094 2,330,000 2,502,847 8,125,000 9,281,941 2025-26 5,975,000 6,725,594 1,685,000 1,842,003 7,660,000 8,567,597 2026-27 5,415,000 5,943,969 1,690,000 1,834,702 7,105,000 7,778,671 2027-28 4,305,000 4,639,369 1,710,000 1,839,830 6,015,000 6,479,199 2028-29 3,520,000 3,769,794 1,725,000 1,837,559 5,245,000 5,607,353 2029-30 2,915,000 3,068,794 1,745,000 1,838,412 4,660,000 4,907,206 2030-31 2,215,000 2,291,144 1,770,000 1,840,901 3,985,000 4,132,045 2031-32 1,245,000 1,276,294 1,790,000 1,836,298 3,035,000 3,112,592 2032-33 60,000 65,775 985,000 1,001,942 1,045,000 1,067,717 2033-34 60,000 63,900 60,000 63,900 2034-35 60,000 61,950 60,000 61,950 Total $52,180,000 $22,405,000* $74,585,000* 1) Includes $90,582 interest payable on the Series 2013 Bonds through the September 9, 2021 redemption date. * Preliminary; subject to change. OTHER DEBT Water Revenue Debt The City has water revenue debt paid solely from the net revenues of the Water Utility as follows: Date of Issue Original Amoun Purpose Final Maturity Principal Outstanding As of 09/09/21 1/15 $61,482,718 Water Revenue Bonds (SRF) 6/37 $50,013,000 Sewer Revenue Debt The City has sewer revenue debt paid solely from the net revenues of the Sewer Utility as follows: Date of Issue Original Amoun Purpose Final Maturity Principal Outstanding As of 09/09/21 11/12 $2,474,250 Sewer Revenue Bonds (SRF) 6/33 $1,486,000 9/16 641,332 Sewer Revenue Bonds (SRF) 6/36 486,000 2/18-1 767,771 Sewer Revenue Bonds (SRF) 6/38 652,000 10/18-2 5,206,055 Sewer Revenue Bonds (SRF) 6/38 4,505,000 Total $7,129,000 DRA F T A-6 Electric Revenue Debt The City has electric revenue debt paid solely from the net revenues of the Electric Utility as follows: Date of Issue Original Amoun Purpose Final Maturity Principal Outstanding As of 09/09/2021 12/15B $9,500,000 Electric Revenue Bonds 6/27 $5,255,000 Hospital Revenue Debt The City has hospital revenue debt paid solely from the net revenues of Mary Greeley Medical Center as follows: Date of Issue Original Amoun Purpose Final Maturity Principal Outstanding As of 09/09/21 11/12 $26,000,000 Mary Greeley Medical Center & Refunding 6/27 $5,015,000 06/16 64,790,000 Mary Greeley Medical Center & Refunding 6/36 61,145,000 11/19 35,000,000 Mary Greeley Medical Cente 6/34 31,520,000 Total $97,680,000 OVERLAPPING DEBT Taxing Distric 1/1/2020 Taxable Valuation 1) Portion of Taxable Valuation Within the City Percent Applicable G.O. Deb 2) City’s Proportionate Share Story County $5,618,865,691 $3,342,233,156 3) 59.48% $5,223,608 $3,107,002 Ames CSD 3,054,771,361 3,003,336,752 3) 98.32% 97,595,000 95,955,404 Gilbert CSD 636,965,321 324,227,994 50.90% 26,095,000 13,282,355 Nevada CSD 546,599,189 1,241,412 0.23% 11,753,000 27,032 United CSD 373,031,446 13,416,998 3.60% 0 0 DMACC 56,678,598,966 3,342,223,156 3) 5.90% 97,560,000 5,756,040 City’s share of total overlapping debt: $118,127,833 1) Taxable Valuation excludes military exemption and includes Ag Land, Ag Buildings, all Utilities and TIF Increment. 2) Includes general obligation bonds, PPEL notes, certificates of participation and new jobs training certificates. 3) Portion of taxable valuation within the City includes Ag TIF Increment in the amount of $5,378. DEBT RATIOS G.O. Debt Debt/Actual Market Value ($5,191,529,367) 1) Debt/58,965 Population 2) Total General Obligation Deb $74,585,000* 1.44%* $1,264.90* City’s Share of Overlapping Deb $118,127,833 2.28% $2,003.36 1) Based on the City’s 1/1/2020 100% Actual Valuation; includes Ag Land, Ag Buildings, all Utilities and TIF Increment. 2) Population based on the City’s 2010 U.S. Census. * Preliminary; subject to change. DRA F T A-7 LEVIES AND TAX COLLECTIONS Fiscal Yea Levy Collected During Collection Yea Percent Collected 2016-17 $27,044,391 $25,919,199 95.84% 2017-18 28,137,151 27,044,258 96.12% 2018-19 29,467,293 28,805,839 97.76% 2019-20 31,041,345 30,109,340 97.00% 2020-21 31,830,769 --------In Process of Collection-------- 2021-22 32,418,857 --------In Process of Collection-------- Collections include delinquent taxes from all prior years. Taxes in Iowa are delinquent each October 1 and April 1 and a late payment penalty of 1% per month of delinquency is enforced as of those dates. If delinquent taxes are not paid, the property may be offered at the regular tax sale on the third Monday of June following the delinquency date. Purchasers at the tax sale must pay an amount equal to the taxes, special assessments, interest and penalties due on the property and funds so received are applied to taxes. A property owner may redeem from the regular tax sale but, failing redemption within three years, the tax sale purchaser is entitled to a deed, which in general conveys the title free and clear of all liens except future tax installments. Source: The City’s Comprehensive Annual Financial Report for the Fiscal Year ended June 30, 2020 and the City’s Adoption of Budget and Certification of City Taxes Form 85-811 for FY 2020-2021. TAX RATES FY 2016-17 $/$1,000 FY 2017-18 $/$1,000 FY 2018-19 $/$1,000 FY 2019-20 $/$1,000 FY 2020-21 $/$1,000 Story County 5.09972 5.08816 5.06487 5.12714 5.02778 Story County Hospital 0.63884 0.75000 0.85000 0.94500 0.90891 County Ag. Extension 0.08268 0.08331 0.08154 0.07784 0.07960 City of Ames 10.37327 10.37589 10.06857 10.02557 10.14681 City Assesso 0.39544 0.31814 0.29989 0.35032 0.34504 Ames Comm. School District 14.34101 14.34129 14.34179 14.34142 14.34107 Gilbert Comm. School District 18.92186 18.90541 18.90141 18.87279 18.08785 Nevada Comm. School District 16.81007 16.81507 16.81478 16.81278 14.71656 United Comm. School District 8.94613 10.05600 10.10152 12.49845 12.00008 Des Moines Area Comm. College 0.72334 0.67458 0.69468 0.65249 0.63533 State of Iowa 0.00330 0.00310 0.00290 0.00280 0.00270 Total Tax Rate: Ames CSD Resident 31.65760 31.63447 31.40424 31.52258 31.48724 Gilbert CSD Residen 36.23845 36.19859 35.96386 36.05395 35.23402 Nevada CSD Resident 34.12666 34.10825 33.87723 33.99394 31.86273 United CSD Residen 26.26272 27.34918 27.16397 29.67961 29.14625 LEVY LIMITS A city’s general fund tax levy is limited to $8.10 per $1,000 of taxable value, with provision for an additional $0.27 per $1,000 levy for an emergency fund which can be used for general fund purposes (Code of Iowa, Chapter 384, Division I). Cities may exceed the $8.10 limitation upon authorization by a special levy election. Further, there are limited special purpose levies, which may be certified outside of the above-described levy limits (Code of Iowa, Section 384.12). The amount of the City’s general fund levy subject to the $8.10 limitation is $5.54979 for Fiscal Year 2021-22, and the City has levied no emergency levy. The City has certified special purpose levies outside of the above described levy limits as follows: $0.71802 for police and fire retirement and $0.60847 for the operation and maintenance of a public transit system. Debt service levies are not limited. DRA F T A-8 FUNDS ON HAND (CASH AND INVESTMENTS AS OF JUNE 30, 2021) Governmental General Fund $15,738,185 Debt Service Fund 694,037 Capital Projects Fund 24,145,288 Other Governmental Funds 29,127,965 Business-type Mary Greeley Medical Cente $425,226,941 Electric Utility 54,384,705 Sewer Utility 11,897,664 Water Utility 18,827,209 Other Enterprise Funds 19,321,552 Internal Service Funds 24,482,784 Total all funds $623,846,330 GENERAL FUND BUDGETS (ACCRUAL BASIS) The table below represents a comparison between the final Fiscal Year 2019-20 actual financial performance, the amended Fiscal Year 2020-21 budget and the adopted Fiscal Year 2021-22 budget on an accrual basis. Actual FY 2019-20 Amended FY 2020-21 Adopted FY 2021-22 Revenues: Property taxes $18,780,469 $19,559,769 $20,027,516 Other City taxes 2,137,107 1,472,499 2,067,142 Licenses and permits 1,856,278 1,560,965 1,605,590 Use of money and property 1,061,847 688,787 855,850 Intergovernmental 1,062,898 4,667,436 3,103,938 Charges for fees and services 3,321,077 1,506,090 1,876,081 Miscellaneous 283,006 184,742 261,914 Transfers in 9,541,100 10,836,649 10,314,451 Proceeds of Capital Asset Sales 0 0 0 Total revenues $38,043,782 $40,476,937 $40,112,482 Expenditures: Public safety $19,845,813 $20,331,135 $21,211,438 Public works 275,019 1,487,341 1,171,108 Health and social services 0 0 0 Culture and recreation 7,940,762 10,339,090 8,826,667 Community & economic developmen 1,265,325 1,379,594 1,296,149 General governmen 2,482,216 2,787,088 2,853,893 Capital projects 9,260 1,824,515 0 Transfers ou 4,696,833 6,326,279 4,753,227 Total expenditures $36,515,228 $44,475,042 $40,112,482 Excess (deficiency) of revenues ove (under) expenditures $1,528,554 ($3,998,105) $0 Fund balance at beginning of yea $12,729,765 $14,258,319 $10,260,214 Fund balance at end of yea $14,258,319 $10,260,214 $10,260,214 DRA F T A-9 THE CITY CITY GOVERNMENT The City of Ames, Iowa (the “City”) is governed under and operates under a Mayor-Council form of government with a City Manager. The principle of this type of government is that the Council sets policy and the City Manager carries it out. The six members of the Council are elected for staggered four-year terms. One member is elected from each of the four wards and two are elected at large. The Council appoints the City Manager as well as the City Attorney. The City Manager is the chief administrative officer of the City. The Mayor is elected for a four-year term, presides at Council meetings and appoints members of various City boards, commissions and committees with the approval of the Council. EMPLOYEES AND PENSIONS The City currently has 1,092 full-time employees of which 491 are governmental employees and 601 are employees of the Mary Greeley Medical Center, and 1,697 part-time employees (including seasonal employees) of which 891 are governmental employees and 806 are employees of the Mary Greeley Medical Center. Included in the City’s full-time employees are 51 sworn police officers and 58 firefighters.   The City participates in two statewide employee retirement systems, the Iowa Public Employees Retirement System (“IPERS”) and the Municipal Fire and Police Retirement System of Iowa (“MFPRSI”). The State of Iowa administers IPERS and a nine-member board of trustees governs the MFPRSI. Though separate and apart from state government, the MFPRSI board is authorized by state legislature, which also establishes by statute the pension and disability benefits and the system’s funding mechanism. All full-time employees must participate in either IPERS or MFPRSI. Iowa Public Employees Retirement System: The City contributes to IPERS, which is a cost-sharing, multiple-employer, contributory defined benefit public employee retirement system administered by the State of Iowa. IPERS provides retirement and death benefits, which are established by state statute, to plan members and beneficiaries. IPERS is authorized to adjust the total contribution rate up or down each year, by no more than 1 percentage point, based upon the actuarially required contribution rate. The City’s contributions to IPERS for the past three fiscal years, as shown below, equal the required contributions for each year. FY 2017-18 FY 2018-19 FY 2019-20 IPERS City Contribution $7,862,807 $8,567,465 $9,139,672 Pursuant to Governmental Accounting Standards Board (“GASB”) Statement No. 68, the City reported a liability of $67,695,565 within its CAFR as of June 30, 2020 for its proportionate share of the net pension liability. The net pension liability is the amount by which the total actuarial liability exceeds the pension plan’s net assets or fiduciary net position (essentially the market value) available for paying benefits. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City’s proportion of the net pension liability was based on the City’s share of contributions to the pension plan relative to the contributions of all IPERS participating employers. At June 30, 2019, the City’s collective proportion was 1.1690%, which was an increase of 0.0173% from its proportion measured as of June 30, 2018. For additional information on IPERS, refer to Section IV, Note F, beginning on page 55 of the City’s June 30, 2020 CAFR contained in APPENDIX C to this Preliminary Official Statement. The IPERS Comprehensive Annual Financial Report (“CAFR”) is available on the IPERS website, https://www.ipers.org, or by contacting IPERS at 7401 Register Drive P.O. Box 9117, Des Moines, IA 50321. Bond Counsel, the City and the Municipal Advisor undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from the IPERS discussed above or included on the IPERS website, including, but not limited to, updates of such information on the State Auditor’s website or links to other Internet sites accessed through the IPERS website. Municipal Fire and Police Retirement System of Iowa: The City contributes to MFPRSI, which is a cost-sharing, multiple- employer defined benefit pension plan. MFPRSI provides retirement, disability, and death benefits to firefighters and police offers. Benefit provisions are established by state statute, and vest after four years of credited service. DRA F T A-10 MFPRSI plan members are required to contribute a percentage of their annual covered salary, and the City is required to contribute at an actuarially determined rate of annual covered payroll. The contribution requirements of plan members and the City are established, and may be amended by state statute. The City’s contributions to MFPRSI for the past three fiscal years, as shown below, equal the required contributions for each year. FY 2017-18 FY 2018-19 FY 2019-20 MFPRSI City Contribution $2,030,080 $2,097,820 $2,076,217 Pursuant to GASB Statement No. 68, the City reported a liability of $17,470,814 with its CAFR as of June 30, 2020 for its proportionate share of the net pension liability. The net pension liability is the amount by which the total actuarial liability exceeds the pension plan’s net assets or fiduciary net position (essentially the market value) available for paying benefits. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City’s proportion of the net pension liability was based on the City’s share of contributions to the pension plan relative to the contributions of all MFPRSI participating employers. At June 30, 2019, the City’s collective proportion was 2.66%, which was a decrease of 0.0562% from its proportion measured as of June 30, 2018. The MFPRSI Independent Auditors Report is available on the MFPRSI website, http://www.mfprsi.org/about- mfprsi/publications/, or by contacting MFPRSI at 7155 Lake Drive, Suite 201, West Des Moines, IA 50266. Bond Counsel, the City and the Municipal Advisor undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from MFPRSI discussed above or included on the MFPRSI websites, including, but not limited to, updates of such information on the State Auditor’s website or links to other Internet sites accessed through the MFPRSI websites. For additional information on MFPRSI, refer to Section IV, Note F, beginning on page 60 of the City’s June 30, 2020 CAFR contained in APPENDIX C to this Preliminary Official Statement. OTHER POST-EMPLOYMENT BENEFITS (“OPEB”) The City provides health and dental care benefits for retired employees and their beneficiaries through a single-employer, defined benefit plan. The hospital also provides a life insurance benefit. The City has the authority to establish and amend benefit provisions of the plan. The post-employment benefit is limited to the implied subsidy since retirees pay 100% of the premium for the insurance benefits, since the premium rates are based on the entire pool of covered members, the retirees receive an implied subsidy since their rate are not risk adjusted. As of June 30, 2020 there were 580 active employees and 28 inactive employees or beneficiaries receiving benefits. The following table shows the components of the City’s annual OPEB cost for the Fiscal Year ended June 30, 2020, the amount actually contributed to the plan, and changes in the City’s annual OPEB obligation. City Balance, beginning of Yea $2,063,885 Changes for the year: Service Cos 140,814 Interes 74,532 Difference between expected and actual experience (374,352) Change in Assumptions or other inputs 746,954 Benefit Payments (150,412) Net Changes 437,536 Net OPEB obligation, end of yea $2,501,421 For additional information regarding the City’s Post-Employment Benefits, refer to Section IV, Note G, beginning on page 64 of the City’s June 30, 2020 CAFR contained in APPENDIX C to this Preliminary Official Statement. DRA F T A-11 UNION CONTRACTS City employees are represented by the following five bargaining units: Bargaining Uni Contract Expiration Date International Association of Firefighters June 30, 2022 Public, Professional and Maintenance Employees June 30, 2023 International Brotherhood of Electrical Workers June 30, 2023 International Union of Operating Engineers (Local 234C) June 30, 2022 International Union of Operating Engineers (Local 234D) June 30, 2022 INSURANCE The City’s insurance coverage is as follows: Type of Insurance All Limits General Liability $2,000,000 Auto Liability $2,000,000 Wrongful Acts $2,000,000 Excess (over all other coverage except Iowa liquor liability) $13,000,000 Law Enforcement $2,000,000 Public Official $2,000,000 Employee Benefi $1,000,000 Medical Malpractice $15,000,000 Underinsured Motoris $1,000,000 Uninsured Motoris $1,000,000 Commercial Property Commercial Property and Boiler/Machinery Boiler/Machinery Power Generation Related $200,000,000 Municipal Properties and Boiler/Machinery Non-Power Generation $224,368,999 Terrorism – TRIA (Federally defined terrorist acts) Included in both of the above Commercial Property Flood Insurance Non-Flood Plain Facilities (power generation) $100,000,000 Non-Flood Plain Facilities (non-power) $5,000,000 Flood Plain Facilities Transi $6,000,000 Water Pollution Control $6,000,000 Airpor $7,500,000 All Othe $1,000,000 Airport Liability $3,000,000 Cyber Liability $2,000,000 DRA F T A-12 GENERAL INFORMATION LOCATION AND TRANSPORTATION The City is located in Story County in central Iowa. It is approximately thirty miles north of Des Moines, Iowa, the State capital and largest city in the state. The City is located on Interstate Highways 35 and 30. The City was incorporated in 1864 under the laws of the State of Iowa, later amended in July, 1975 under the Home Rule City Act. The City, with a United States Census Bureau 2010 population of 58,965, is known for its excellent quality of life which includes a relatively crime-free environment, an extensive park system, superior cultural/recreations facilities and a nationally recognized school system. The City is the home of Iowa State University (“ISU”). ISU was established in 1859 and is an integral part of the community. The City operates a mass transit system to provide efficient and economical transportation to all members of the community. A fixed routing service is available on a daily basis to most residents and a Dial-A-Ride service is available for elderly or handicapped residents. The City operates a municipal airport, which handles primarily charter services. National air service is available at the Des Moines International Airport, approximately thirty miles south of the City. The City is also provided freight services through the Union Pacific Railroad line. LARGER EMPLOYERS A representative list of larger employers in the City is as follows: Employer Type of Business Number of Employees 1) Iowa State University Higher Education 18,212 Mary Greeley Medical Cente Health Care 1,407 City of Ames Municipal Governmen 1,382 McFarland Clinic, P.C. Health Care 1,200 Danfoss Corp. Hydro-Transmissions 1,052 Iowa Department of Transportation Public Transportation 975 USDA Federal Agency 750 Ames Community School District Education 700 Hach Chemical Water Testing 580 Workiva Software 550 1) Includes full-time, part-time and seasonal employees. Source: The City and company inquiries. BUILDING PERMITS Permits for the City are reported on a calendar year basis. City officials reported most recently available construction activity for a portion of the current calendar year, as of June 30, 2021. The figures below include both new construction and remodeling. 2017 2018 2019 2020 2021 Residential Construction: Number of units: 451 441 379 461 234 Valuation: $45,151,141 $42,309,518 $27,504,682 $34,947,523 $22,575,175 Commercial Construction: Number of units: 215 196 203 155 81 Valuation: $145,078,724 $98,771,167 $210,645,223 $150,034,358 $10,086,821 Total Permits 666 637 582 616 315 Total Valuations $190,229,865 $141,080,685 $238,149,905 $184,981,881 $32,661,996 DRA F T A-13 U.S. CENSUS DATA Population Trend Population Trend: 1980 U.S. Census 43,775 1990 U.S. Census 47,198 2000 U.S. Census 50,731 2010 U.S. Census 58,965 2019 U.S. Census (estimated) 66,258 Source: U.S. Census Bureau UNEMPLOYMENT RATES City of Ames Story County State of Iowa Annual Averages: 2017 1.8% 2.0% 3.1% 2018 1.5% 1.6% 2.6% 2019 1.7% 1.8% 2.8% 2020 3.6% 3.6% 5.3% 2021 (as of April) 2.7% 3.0% 4.5% Source: Iowa Workforce Development Center EDUCATION Public education is provided by the Ames Community School District, with a fall 2020 certified enrollment of 4,351.1. The district, with approximately 700 employees, owns and operates one early childhood center, five elementary schools, one middle school, one high school and a facilities and maintenance building. Nevada Community School District, Gilbert Community School District and United Community School District all lie partially within the City and provide public education to portions of the City. The Iowa State University (“ISU”) 2021 spring enrollment is currently 29,368. ISU is the City’s largest employer with faculty and staff totaling approximately 18,212, including teaching assistants and hourly part-time employees. ISU, in addition to its educational function, is a leading agricultural research and experimental institution. The Iowa State Center is the cultural center of ISU and the City. It attracts major dramatic and musical events, as well as seminars and conferences to the City. It is a complex of three structures: two theaters with capacities of 2,700 and 428, and a continuing education building with a 450 seat auditorium and 24 meeting rooms. Connected to this complex are two of Iowa State University’s major Big 12 athletic venues: a football stadium with a seating capacity of 61,000 and a coliseum with capacity for 15,000. In addition to ISU located in the City, the following institutions provide higher education within 30 miles of the City: Drake University, Grand View University, Des Moines University (formerly University of Osteopathic Medicine and Health Services). Two-year degree programs are offered at Des Moines Area Community College, Upper Iowa University, Vatterott College and Kaplan University (formerly Hamilton College). DRA F T A-14 FINANCIAL SERVICES Financial services for the residents of the City are provided by First National Bank Ames, Iowa and VisionBank of Iowa. In addition, the City is served by branch offices of Bank of the West, Bankers Trust Company, CoBank ACB, Exchange State Bank, First American Bank, Great Southern Bank, Great Western Bank, Midwest Heritage Bank F.S.B., US Bank, N.A., and Wells Fargo Bank, as well as by several credit unions. First National Bank and VisionBank of Iowa report the following deposits as of June 30 for each year: Yea First National Bank Ames VisionBank of Iowa 2016 $585,973,000 $337,027,000 2017 635,176,000 362,537,000 2018 648,715,000 357,109,000 2019 745,795,000 365,706,000 2020 855,840,000 448,663,000 Source: Federal Deposit Insurance Corporation (FDIC) DRA F T APPENDIX B FORM OF LEGAL OPINION DRA F T APPENDIX C JUNE 30, 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT DRA F T APPENDIX D FORM OF CONTINUING DISCLOSURE CERTIFICATE DRA F T OFFICIAL BID FORM To: City Council of Sale Date: August 10, 2021 City of Ames, Iowa 11:00 A.M., CT RE: $22,405,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2021A (the “Bonds”) This bid is a firm offer for the purchase of the Bonds identified in the “TERMS OF OFFERING” and on the terms set forth in this bid form and “TERMS OF OFFERING”, and is not subject to any conditions, except as permitted by the “TERMS OF OFFERING”. By submitting this bid, we confirm we have an established industry reputation for underwriting new issuance of municipal bonds. For all or none of the above Bonds, in accordance with the “TERMS OF OFFERING”, we will pay you $________________ (not less than $22,203,355) plus accrued interest to date of delivery for fully registered Bonds bearing interest rates and maturing in the stated years as follows: Coupon Maturity Yield Coupon Maturity Yield 2022 2028 2023 2029 2024 2030 2025 2031 2026 2032 2027 2033 * Preliminary; subject to change. The aggregate principal amount of the Bonds, and each scheduled maturity thereof, are subject to increase or reduction by the City or its designee after the determination of the successful bidder. The City may increase or decrease each maturity in increments of $5,000 but the total amount to be issued will not exceed $26,365,000. Interest rates specified by the successful bidder for each maturity will not change. Final adjustments shall be in the sole discretion of the City. The dollar amount of the purchase price proposed by the successful bidder will be changed if the aggregate principal amount of the Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the successful bidder's net compensation, calculated as a percentage of bond principal. The successful bidder may not withdraw or modify its bid as a result of any post-bid adjustment. Any adjustment shall be conclusive, and shall be binding upon the successful bidder. We hereby designate that the following Bonds to be aggregated into term bonds maturing on June 1 of the following years and in the following amounts (leave blank if no term bonds are specified): Years Aggregated Maturity Year Aggregate Amount throu h throu h throu h In making this offer we accept all of the terms and conditions of the “TERMS OF OFFERING” published in the Preliminary Official Statement dated July 27, 2021, and represent we are a bidder with an established industry reputation for underwriting new issuances of municipal bonds. In the event of failure to deliver the Bonds in accordance with the “TERMS OF OFFERING” as printed in the Preliminary Official Statement and made a part hereof, we reserve the right to withdraw our offer, whereupon the deposit accompanying it will be immediately returned. All blank spaces of this offer are intentional and are not to be construed as an omission. Not as a part of our offer, the above quoted prices being controlling, but only as an aid for the verification of the offer, we have made the following computations: NET INTEREST COST: $___________________________ TRUE INTEREST COST: ___________________________% (Based on dated date of September 9, 2021) Account Manager: _________________________________ By: _________________________________________ Account Members: ______________________________________________________________________________ The foregoing offer is hereby accepted by and on behalf of the City Council of the City of Ames, Iowa this 10th day of August 2021. Attest: By: Title: Title: DRA F T 1 ITEM # ___13___ DATE 07/27/21 COUNCIL ACTION FORM SUBJECT: CONTRACT RENEWAL WITH EMC FOR WORKERS’ COMPENSATION AND MUNICIPAL FIRE AND POLICE SYSTEM MEDICAL CLAIMS ADMINISTRATION BACKGROUND: The City contracts with EMC Risk Services, LLC, of Des Moines, Iowa, to provide third party administration of workers’ compensation and Municipal Fire and Police “411 System” injury medical claims. The City’s current contract with EMC for these services is set at an amount not to exceed $55,000, and it will expire July 31, 2021. EMC has provided a renewal contract for the same services for the period from August 1, 2021 to July 31, 2022, in an amount not to exceed $55,000. Services provided by EMC in this contract include workers’ compensation claims administration for all City employees, medical bill review, self-insured loss fund management, and pharmacy and medical expense consultation. EMC also performs regulatory filings and maintains an online claims database accessible to City staff. Fees are based on a combination of annual administrative fees, per-claim setup fees and 30% reimbursement to EMC based on medical review invoice reductions. The fees, along with actual claims expenses, are charged to individual departments. The table below compares the FY 2020/21 fees to the proposed FY 2021/22 fees. Expecting similar claim volume in FY 2021/22 staff expects similar results. Additionally, the fees are contractually capped at $55,000. Fee Component Components Components Change FY 2020/21 Contract FY 2021/22 Contract Claim Set Up, Incident Only $35 per claim $35 per claim 0% Included Included Claim Set Up, Medical Only $185 per claim $196 per claim 6% Included Included Claim Set Up, Lost Time $1,048 per claim $1,069 per claim 2% Included Included Medical Bill Review Fees & Reimbursement $9.50/claim 30% of Savings $10,000/bill cap $9.50/claim 30% of Savings $10,000/bill cap 0% 0% 0% Not to exceed $55,000 Not to exceed $55,000 2 ALTERNATIVES: 1. Approve the renewal contract with EMC Risk Services, LLC, of Des Moines Iowa, to provide third party administration of the City’s worker’s compensation and Municipal Fire and Police “411 System” claims for August 1, 2021 through July 31, 2022, at a cost not to exceed $55,000. 2. Reject the EMC renewal option and direct City staff to seek other claims administration alternatives. CITY MANAGER’S RECOMMENDED ACTION: EMC Risk Services, LLC, has been an effective provider of professionally administered workers’ compensation claims and associated services. Its staff has been responsive and sensitive to the needs of City employees in managing their injury and disability claims. The online claims system makes cost and other data accessible to City staff and provides a frequently utilized tool for analyzing injury types and safety program effectiveness. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as described above. 1 ITEM # 14 DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: 2021/22 SHARED USE PATH SYSTEM EXPANSION – IOWAY CREEK (SE 16th STREET TO S. 5th STREET) BACKGROUND: This program provides for construction of shared use paths on street rights-of-way, adjacent to streets, and through greenbelts identified in the Long Range Transportation Plan (LRTP). This project will construct a shared use path connecting SE 16th Street to S. 5th Street as shown in the attachment. This professional services contract involves the design of the project. Services will include a base survey, evaluation of construction techniques, area drainage analysis, preparation of plans and specifications, participation in at least one public informational meeting, and attendance at a pre-construction meeting. Contract services also include notification and coordination with Iowa DOT, adjacent property owners, and contractors of nearby construction projects (Ioway Creek Flood Mitigation, etc.). Plan development and all required submittals to meet Iowa DOT letting requirements are also included, with an anticipated Spring/Summer 2022 letting for construction in 2022-23. Proposals for this work were received from eight engineering firms and were evaluated according to the following criteria: Project Understanding, Design Team, Previous Experience, Ability to Perform Work, and Estimated Contract Cost. Listed below is the ranking information based on this evaluation: Engineering Firm Overall Rank Estimated Fee WHKS & Co. 1 $72,400 Bolton & Menk, Inc. 2 $117,148 FOX Engineering 3 $59,650* Snyder & Associates 4 $128,600 McClure Engineering Company 5 $145,990 *Does not include DNR Permitting or geotechnical reports which are required for the project Given the above rankings, staff has negotiated a contract with the highest ranked firm, WHKS & Co., of Ames, Iowa. 2 This project is funded through a combination of $521,800 from Local Option Sales Tax, and $400,000 from MPO/STP funds, bringing the total project budget for administration, engineering and construction to $921,800. ALTERNATIVES: 1. Approve the Professional Services Agreement for the 2021/22 Shared Use Path System Expansion – Ioway Creek (SE 16th Street to S. 5th Street) project with WHKS & Co., of Ames, Iowa, in an amount not to exceed $72,400. 2. Direct staff to negotiate an engineering agreement with another consulting firm. CITY MANAGER’S RECOMMENDED ACTION: Based on staff’s evaluation using the above criteria, WHKS & Co. will provide the best value to the City in designing this project. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as noted above. 1 ITEM#: 15 DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: 2021/22 ARTERIAL STREET PAVEMENT IMPROVEMENTS (NORTH DAKOTA AVENUE AND ONTARIO STREET) BACKGROUND: This annual program utilizes current repair and reconstruction techniques to improve concrete streets with asphalt or concrete to restore structural integrity, serviceability, and rideability. By improving these streets prior to excessive problems, the service life will be extended. On May 20, 2021, staff initiated a Request for Proposals process in accordance with the City’s purchasing policies for the 2021/22 Arterial Street Pavement Improvements (North Dakota Avenue and Ontario Street) project. Proposals for this work were originally received from nine engineering firms on June 11, 2021. The proposals were evaluated on their qualifications according to the following criteria: Project Understanding, Project Approach, Design Team & Previous Experience, Key Personnel, Responsiveness, Ability to Perform Work & Letting Schedule, and References. Listed below is the ranking information based on this evaluation: After weighing the qualifications and fees from these firms, staff has negotiated a contract with MSA of Ankeny, Iowa. MSA ranked first based on qualifications and first based on overall total points. Staff is confident that a contract with MSA will provide the best value for professional services considering the firms qualifications. Firm Qualifications Qualifications Fee Points Final MSA 336 1 $ 82,125 353 1 STANLEY 330 4 $ 95,000 343 2 AECOM 334 2 $ 107,000 342 3 HR GREEN 331 3 $ 106,600 339 4 WHKS 330 4 $ 108,700 337 5 V&K 326 8 $ 107,200 334 6 SEH 327 7 $ 112,000 333 7 SNYDER 312 9 $ 60,356 332 8 CGA 330 4 $ 139,000 331 9 2 A summary of revenues and projected expenses is shown below. Funding Source Revenue Expenses TOTAL $1,700,000 $1,700,000 ALTERNATIVES: 1. Approve the professional services agreement for the 2021/22 Arterial Street Pavement Improvements (North Dakota Avenue and Ontario Street) project with MSA of Ankeny, Iowa, in an amount not to exceed $82,125. 2. Direct staff to negotiate an engineering agreement with another consulting firm. CITY MANAGER’S RECOMMENDED ACTION: Based on staff’s evaluation using the above criteria, MSA will provide the best value to the City for professional services on the 2021/22 Arterial Street Pavement Improvements project. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as noted above. 1 ITEM # ___16__ DATE 07-27-21 COUNCIL ACTION FORM SUBJECT: AMES SANITARY LANDFILL ENVIRONMENTAL COVENANT WITH IOWA DEPARTMENT OF NATURAL RESOURCES BACKGROUND: The City of Ames operated a sanitary landfill, permitted by the Iowa Department of Natural Resources (IDNR) until 1996. In 1996 the landfill was transitioned from an operating landfill to a 30-year post closure permit administered by IDNR. This post closure permit requires routine scheduled monitoring of water and gas wells located on and around the landfill, twice yearly physical inspections of the entire landfill property, and submission of semi-annual reports to IDNR, all conducted by a professional engineer. On-going City staff work to monitor the landfill and maintain stable conditions has enabled the landfill to make an early transition into the next phase, which is an environmental covenant. This action releases the City from the current permit and establishes reduced monitoring and reporting requirements. The environmental covenant is perpetual with the land title and is binding on the City and any future owners of the property to manage risk of future exposure by limiting specified activities on the property and establishing affirmative obligations. Some of the general restrictions include prohibiting excavations deeper than two feet, removal of municipal waste, drinking wells, structures, and vegetation burns. Additionally, the leachate collection system, fence and gate, and landfill cap must be maintained, and biennial inspections by a professional engineer must take place. ALTERNATIVES: 1. Approve the Ames Sanitary Landfill environmental covenant with the Iowa Department of Natural Resources. 2. Do not approve the Ames Sanitary Landfill environmental covenant with the Iowa department of Natural Resources and continue with the current permit. CITY MANAGER’S RECOMMENDED ACTION: This environmental covenant reduces on-going requirements for the closed Ames landfill due to its stability and compliance record. It ensures the site will be maintained in an environmentally sound manner. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1 as described above. ITEM#: 17 DATE: 7-27-21 COUNCIL ACTION FORM SUBJECT: GEOGRAPHIC INFORMATION SYSTEMS (GIS) ENTERPRISE LICENSE AGREEMENT (ELA) RENEWAL BACKGROUND: The City of Ames has made a considerable investment in Geographic Information Systems (GIS) technologies including the necessary software. The City uses ArcGIS as its primary GIS software platform and has numerous server and desktop and web applications deployed throughout the organization. ArcGIS is developed and distributed by Environmental Systems Research Institute (ESRI) of Redlands, CA. In fiscal year 2009/2010, the City reached a tipping point in ArcGIS software expenditures which justified transitioning from a standalone licensing model to an Enterprise (unlimited) Licensing Agreement (ELA). Since that time the City appropriates $50,000 annually for ESRI software licensing. The current 3-year contract expires in September 2021 and thus requires reauthorization to continue licensing through 2024. The baseline ELA annual contract cost for 2021-2024 has increased $5,000 per year, from $50,000 to $55,000. This represents the first cost increase since the contract was initiated in 2009. Furthermore, City departments have since purchased additional software licenses for products not included in the ELA. Those costs are now included in the proposed 3-year agreement bringing the total contract cost to $199,500 over a 3-year term ($66,500 per year). The ELA expenses are appropriated across Departments in proportion to use. Therefore, the annual cost has increased by $11,500. ALTERNATIVES: 1. The City Council can reauthorize the Enterprise Licensing Agreement with Environmental Systems Research Institute of Redlands, CA for a term of 3 years at a rate of $66,500 per annum. 2. The City Council can decide not to enter into a 3-year GIS software license agreement with Environmental Systems Research Institute (ESRI).This action will result in restricted licensing and a more costly annual GIS software expenditure. Or, as an alternative, the City could seek other GIS software solutions. However, this option would require a substantial conversion and alternative vendors are extremely limited. CITY MANAGER’S RECOMMENDED ACTION: Approving the Enterprise Licensing Agreement with Environmental Systems Research Institute will continue to allow the City to leverage existing software expenditures and provide for unlimited licensing. Doing so provides a cost-effective way to facilitate Information management and sharing across the organization and extend these tools to the public. Therefore, it is the recommendation of the City Manager that the City Council accept Alternative No. 1, as noted above. 1 ITEM # __18 __ DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: REQUEST TO WAIVE ENFORCEMENT OF PROHIBITION OF ALCOHOL CONSUMPTION IN BANDSHELL PARK FOR AMES ON THE HALF SHELL BACKGROUND: Ames On the Half Shell is an activity, sponsored by the Ames Jaycees, which includes a live band with concession sales (food, beer, wine coolers, and soft drinks). The Jaycees have already been approved to hold events at the Bandshell on four Fridays, July 9 – 30, and to serve alcohol at these events, however, the July 9 event was cancelled due to severe weather potential. The Jaycees want to reschedule the July 9 event for Friday, August 13. In the event of another cancellation, the Jaycees are also requesting additional Friday rain dates in August and/or September. Specific dates are not known at this time as the Jaycees would need to check with the bands to determine what dates are available. A maximum of four events would be held in 2021 by the Jaycees which is what was originally planned. The request asks for alcohol to be served between the hours of 5:00 and 8:00 PM and consumed at ground level within the fenced in area no later than 9:00 PM or the removal of the temporary fencing, whichever comes first. The Jaycees already have a State liquor license and dram shop insurance to assure compliance with local and State liquor laws. According to the Jaycees, the sale of alcohol is what allows them to raise money that is given directly back to the community through their projects. The Parks and Recreation Commission reviewed this request at its July 22, 2021 special meeting and recommended that City Council grant this waiver for Ames on the Half Shell on Friday, August 13, and other Fridays in August and September if there are additional cancellations. The Jaycees would only be allowed to host a maximum of four events in the 2021 season. ALTERNATIVES: 1a. Waive enforcement of prohibition of alcohol consumption in Bandshell Park (Section 17.17 of Municipal Code) from 5:00 PM to 9:00 PM on Friday, August 13 1b. Authorize Parks & Recreation Director or designee to administratively approve alternative dates during August and September 2021 should additional cancellations occur 2 2. Deny the request and do not allow the consumption of alcohol at the park. CITY MANAGER’S RECOMMENDED ACTION: The Jaycees have been hosting this event at Bandshell Park for 17 years. Each year, Parks and Recreation administrative staff attends the event. Staff has consistently been impressed with the level of organization the Jaycees provide and that the event draws people of all ages. The Police Department receives very few complaints concerning the event. Having the ability to sell alcohol allows the Jaycees to fulfill their commitment to community betterment including Parks and Recreation projects. The Jaycees have already received approval from City Council to serve alcohol for their July events and this request is to provide the Jaycees the opportunity to reschedule cancelled events. Therefore, it is the City Manager’s recommendation to approve Alternative #1a. and b. as stated above. 1 ITEM#: 19 DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: 2021/22 SHARED USE PATH MAINTENANCE BACKGROUND: This program provides for shared use path maintenance activities such as patching, joint repairs, and micro-surfacing, as well as complete replacement. Locations are determined using a condition inventory, visual inspection of paths, and input from users. Improvements will enhance safety and usability and also improve the aesthetics of the path/trail system. This project will provide crack sealing, joint leveling, and isolated full depth patching along multiple shared use path locations across the city. The work will focus on cracks and joints that occur in asphalt paths due to expansion and contraction of the pavement during seasonal temperature extremes. A list of proposed locations is attached. Plans and specifications have been prepared by staff with an estimated project cost of $320,770. There is $125,000 of Local Option Sales Tax allocated for this program annually in the Capital Improvement Plan. These funds have been accumulated and carried over into the current budget. After completing several smaller joint sealing and patching contracts that were financed through this program, approximately $486,700 is available to fund this project. ALTERNATIVES: 1. Approve the 2021/22 Shared Use Path Maintenance project by establishing August 18, 2021, as the date of bid letting and August 24, 2021, as the public hearing date to report bids. 2. Do not approve this project. CITY MANAGER’S RECOMMENDED ACTION: Approving this project will allow for maintenance activities to occur on shared use paths that will aid in extending the lifespan of these asphalt paths and enhance the user experience by repairing joints that are not level with the rest of the path. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as noted above. 2 LOCATION DESCRIPTION LENGTH (FT) WIDTH (FT) AREA (SF) Mortensen Rd (Dickinson to Wilder) 1580 8 12640 South Dakota (North of Cochrane) 560 8 4480 South Dakota (Mortensen to Cochrane) 2050 8 16400 College Creek (Thackeray to S Dakota) Elwood Pasture (University and 6th St to TOTAL ESTIMATED AREA 245,800 Smart Choice MEMO 515.239.5105 main fax To: Mayor and Members of the City Council From: City Clerk’s Office Date: July 27, 2021 Subject: Contract and Bond Approval There is/are no Council Action Form(s) for Item No(s). 20, and 21. Council approval of the contract and bond for this/these project(s) is simply fulfilling a State Code requirement. /alc Smart Choice MEMO 515.239.5105 main fax To: Mayor and Members of the City Council From: City Clerk’s Office Date: July 27, 2021 Subject: Contract and Bond Approval There is/are no Council Action Form(s) for Item No(s). “Additional Item”. Council approval of the contract and bond for this/these project(s) is simply fulfilling a State Code requirement. /alc ITEM: _ 22 _ DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: 2018/19 SANITARY SEWER REHABILITATION (SIPHON) – CHANGE ORDER NO. 4 BACKGROUND: This is the annual program for rehabilitation/reconstruction of deficient sanitary sewers and deteriorated manholes at various locations throughout the city. The goal of this program is to identify and remove major sources of inflow/infiltration as a means of lowering the peak wet weather flow at the treatment plant. This is the sixth rehabilitation project and will have an immediate impact by removing Inflow & Infiltration (I&I) in these older sewer mains, regaining some flow capacity and lessening the amount of clean groundwater being treated at the Water Pollution Control Facility. Items of work include televising, heavy cleaning, reaming, and rehabilitating sewer structures to remove grit, grease, hard deposits, tuberculation and/or rust from the sanitary sewer siphon pipes. On October 22, 2019, City Council awarded the contract to Synergy Contracting, LLC of Bondurant, Iowa, in the amount of $1,440,778. Change Order No. 1 (deduction in the amount of $174,575) was approved by Council on December 22, 2020. Change Orders No. 2 ($8,051) & 3 ($16,177) were approved by staff. Change Order No. 4 (this action), in the amount of $126,739.20, is for additional item quantities needed to properly repair deficiencies that were discovered as worked progressed. The quantity overages are due to the heavy cleaning and reaming needed as a result of the pipes being dirtier than anticipated, which necessitated cleaning more linear footage than was (estimated) included in the bids. The revised total including all change orders will therefore be $1,417,170.20, which remains under the original contract amount of $1,440,778.00. Revenue and revised expenses associated with this program are estimated as follows: Available Revenue Estimated Expenses State Revolving Fund (2019/20) $1,014,787.60 2018/19 Sanitary Sewer Rehab (Siphon) (revised w/CO’s) $ 1,417,170.20 ALTERNATIVES: 1. Approve Change Order No. 4 in the amount of $126,739.20. 2. Direct staff to pursue changes to the project. CITY MANAGER'S RECOMMENDED ACTION: This project represents City Council’s commitment to improve the sanitary sewer system, including this project to rehabilitate several siphon locations that has an immediate impact by removing Inflow & Infiltration to regain valuable capacity in the City’s existing sanitary sewer mains. This project will still be under the original contract amount. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as noted above. 1 ITEM # ___23__ DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: ELECTRIC SERVICES UNDERGROUND TRENCHING – CHANGE ORDER NO. 1 BACKGROUND: This contract consists of excavating, trenching, directional boring, and backfilling for installation of electric conduits, ground sleeves, box pads, vaults, handholes, and other appurtenances. On June 25, 2019, City Council awarded a contract to Ames Trenching & Excavating, Ames, IA, in an amount not-to-exceed $200,000, funded by the Underground System Improvement account. Replacement of underground feeders at the Mortensen Road Substation is planned under an existing CIP project. Installation of the new conduits and duct banks for this project will be completed by Ames Trenching using the terms and prices of the above-mentioned contract. Payment for the conduit and duct bank installation will come from the CIP project account instead of the Underground System Improvement account. The action being requested is to approve Change Order No. 1 to the Electric Services Underground Trenching Contract. This change order will add an additional $67,000 to the current contract for FY 2021/22. This will bring the total contract amount to $267,000. The additional $67,000 will be financed from the Mortensen Road Substation CIP project. ALTERNATIVES: 1. Approve Change Order No. 1 to Ames Trenching & Excavating in the amount of $67,000 for additional funds to cover the work at the Mortensen Road Substation increasing the total contract amount to $267,000.00. All labor and materials will be performed and invoiced on a time and material basis according to rates, terms, stipulations, and conditions specified in the original contract. 2. Do not approve the change order, and direct staff to seek bids for this standalone project. CITY MANAGER'S RECOMMENDED ACTION: Approving this change order will allow the installation of conduits and ductbanks at the Mortensen Road Substation under the terms already bid for the Underground System Improvements contract. This contract was originally awarded through a competitive bid process and the change order will increase the not-to-exceed contract amount, with the actual amounts paid based on services provided and invoiced. Adding this work to the annual trenching contract is more cost effective than bidding this smaller contract separately and will save considerable staff time. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1 as stated above. ITEM #: 24 DATE: 07-27-21 COUNCIL ACTION FORM REQUEST: SCENIC VALLEY SUBDIVISION, SIXTH ADDITION MAJOR FINAL PLAT BACKGROUND: The City’s subdivision regulations are included in Chapter 23 of the Ames Municipal Code. Once the applicant has completed the necessary requirements, including provision of required public improvements or provision of financial security for their completion, a “final plat application” may then be submitted for City Council approval. After City Council approval of the final plat, it must then be recorded with the County Recorder to become an officially recognized subdivision plat. The final plat must be found to conform to the ordinances of the City and any conditions placed upon the preliminary plat approval. Hunziker Development Co., LLC, has submitted a final subdivision plat for Scenic Valley Subdivision, Sixth Addition, which is a partial platting of an approved preliminary plat affecting the northern portion of the site. The subject area of this plat was part of a Major Amendment to the Preliminary Plat approved by the City Council on December 11, 2018 that addressed reconfiguration of lots and storm water improvements. The approved Preliminary Plat is at the minimum density allowed for FS-RL development. The proposed final plat includes nineteen residential lots for single-family detached homes along Everest Avenue and Aldrin Avenue. Ten lots will be along Aldrin Avenue and finish out the street with a cul-de-sac. Nine lots will be platted along Everest Avenue, with four lots on the west side and five lots on the east side. There will be three lots on each side of the extended street. The lots along Everest Avenue are larger than shown on the preliminary plat, which potentially could change the lot layouts with the final additions as well. The required 3.75 dwelling units/acre requirement will need to be met when the entire subdivision is completed. The increase in lot sizes may lead to smaller outlots in order to meet density requirements, but the total number of lots will match what was approved with the 2018 Preliminary Plat. The applicant has provided an agreement for the installation of street trees and sidewalks. The agreement requires the financial security for the sidewalks, which must be installed the earlier of three years or prior to issuance of a certificate of occupancy for a house on the lot. Due to replatting of the area, the sidewalks will be five feet in width rather than the original four-foot standard. In addition to the public sidewalks, this addition includes a cross connecting sidewalk from Everest to Aldrin. The developer is responsible for installing this sidewalk across the private lots and through the outlot. The developer has provided a letter of credit in the amount of $523,253 for the completion of public improvements including sidewalks, which the City Council is asked to accept, along with those improvements already completed. ALTERNATIVES: 1. A. Approve the Final Plat of Scenic Valley Subdivision, Sixth Addition, based upon findings that the Final Plat conforms to relevant and applicable design standards, ordinances, policies, and plans. B. Accept the Improvement Agreement and financial security in lieu of the installation of the remaining required improvements. 2. Deny the Final Plat for Scenic Valley Subdivision, Sixth Addition on the basis that the development creates a burden on existing public improvements or creates a need for new public improvements that have not yet been installed. CITY MANAGER’S RECOMMENDED ACTION: City staff has evaluated the proposed final subdivision plat and determined that the proposal substantially conforms with the preliminary plat approved by City Council and that it conforms to the adopted ordinances and policies of the City as required by Code. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No.1, as described above. Attachment A: Location Map Attachment B: Preliminary Plat (Amended) Attachment C: Proposed Lot Layout Attachment D: Applicable Subdivision Law The laws applicable to this Preliminary Plat Subdivision include, but are not limited to, the following: (verbatim language is shown in italics, other references are paraphrased): Code of Iowa Chapter 354, Section 8 requires that the governing body shall determine whether the subdivision conforms to its Land Use Policy Plan. Ames Municipal Code Chapter 23, Subdivisions, Division I, outlines the general provisions for subdivisions within the City limits and within two miles of the City limits of Ames. Ames Municipal Code Section 23.302(10): (10) City Council Action on Final Plat for Major Subdivision: (a) All proposed subdivision plats shall be submitted to the City Council for review and approval. Upon receipt of any Final Plat forwarded to it for review and approval, the City Council shall examine the Application Form, the Final Plat, any comments, recommendations or reports examined or made by the Department of Planning and Housing, and such other information as it deems necessary or reasonable to consider. (b) Based upon such examination, the City Council shall ascertain whether the Final Plat conforms to relevant and applicable design and improvement standards in these Regulations, to other City ordinances and standards, to the City's Land Use Policy Plan and to the City's other duly adopted plans. (c) The City Council may: (i) deny any subdivision where the reasonably anticipated impact of such subdivision will create such a burden on existing public improvements or such a need for new public improvements that the area of the City affected by such impact will be unable to conform to level of service standards set forth in the Land Use Policy Plan or other capital project or growth management plan of the City until such time that the City upgrades such public improvements in accordance with schedules set forth in such plans; or, (ii) approve any subdivision subject to the condition that the Applicant contribute to so much of such upgrade of public improvements as the need for such upgrade is directly and proportionately attributable to such impact as determined at the sole discretion of the City. The terms, conditions and amortization schedule for such contribution may be incorporated within an Improvement Agreement as set forth in Section 23.304 of the Regulations. (d) Prior to granting approval of a major subdivision Final Plat, the City Council may permit the plat to be divided into two or more sections and may impose such conditions upon approval of each section as it deems necessary to assure orderly development of the subdivision. (e) Following such examination, and within 60 days of the Applicant's filing of the complete Application for Final Plat Approval of a Major Subdivision with the Department of Planning and Housing, the City Council shall approve, approve subject to conditions, or disapprove the Application for Final Plat Approval of a Major Subdivision. The City Council shall set forth its reasons for disapproving any Application or for conditioning its approval of any Application in its official records and shall provide a written copy of such reasons to the developer. The City Council shall pass a resolution accepting the Final Plat for any Application that it approves. (Ord. No. 3524, 5-25-99) ITEM #__ 25_ Date: 07-27-21 COUNCIL ACTION FORM SUBJECT: CONTRACT COMPLETION FOR THE EMMA MCCARTHY LEE PARK PEDESTRIAN BRIDGE REPLACEMENT PROJECT BACKGROUND: This project included constructing a new pedestrian bridge across Clear Creek in Emma McCarthy Lee Park. The former wood pedestrian bridge was destroyed in June 2018 after Clear Creek flooded. The pedestrian bridge provides a connection of the northwest part of Ames to Iowa State Campus. WHKS, Inc., Ames, Iowa, developed plans and specifications, filed permits with the Iowa Department of Natural Resources and the U.S. Army Corps of Engineers, prepared a cost estimate, and provided construction management. Henkel Construction Company, Ames, Iowa, completed construction of the bridge in accordance with plans and specifications as verified by WHKS, Inc., see attachment A. Below is a breakdown of the costs for the project. Project Component Cost Total Project Cost $238,335.68 The FY 2019/20 Capital Improvements Plan (CIP) included $260,000 to design and construct a new pedestrian bridge. The City also received disaster assistance grants for $49,783 from the Federal Emergency Management Administration (FEMA) and Iowa Department of Homeland Security which increased available funding for the project to $309,783. ALTERNATIVES: 1. Accept completion of the Emma McCarthy Lee Park Pedestrian Bridge Replacement Project with Henkel Construction Co., Ames, Iowa in the amount of $179,272.75. 2. Do not accept completion of the Emma McCarthy Lee Park Pedestrian Bridge Project. CITY MANAGER’S RECOMMENDED ACTION: The Ames community takes pride in the quality of its shared use paths and trail network. This bridge reestablishes the trail connection that was lost in 2018 to Iowa State campus from the northwest area of the City. The bridge that was constructed is approximately four feet above the former bridge deck and is ten feet wide which is similar to the other bridges within the parks and trail network. Also, the bridge was engineered to withstand the force of water if it ever becomes inundated. Therefore, it is the recommendation of the City Manager that the City Council approve Alternative #1 as stated above. 1 ITEM #__ 26__ DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: CONTRACT COMPLETION FOR INIS GROVE PARK SIDEWALK PROJECT BACKGROUND: This project included constructing a sidewalk along the north side of 24th St., east of Duff Ave., and along Duff Ave, north of 24th St., adjacent Inis Grove Park. This project was completed in order to provide pedestrians, bicyclists, and others access to the park from Duff Ave and 24th St and was part of the approved Miracle Project site plan. The Public Works Department completed plans and specifications, prepared a cost estimate, and provided construction management. TK Concrete, Inc., Pella, Iowa was awarded the contract to complete construction on December 22, 2020 in the amount of $170,484.40. TK Concrete, Inc., completed the project in accordance with specifications and verified by the Public Works Department. Change order #1 was to add a sidewalk adjacent the west parking lot in order to add several more accessible parking spots. Below is a breakdown of the costs for the project. Project Component Cost Total Project Cost $189,539.40 The FY 2020/21 Capital Improvements Plan (CIP) included $200,000 to install the path along Duff Ave. and E. 24th St adjacent to Inis Grove Park. ALTERNATIVES: 1. Accept completion of the contract for the Inis Grove Park Sidewalk Project with TK Concrete, Inc., Pella, Iowa in the amount of $172,795.70. 2. Do not accept the completion of the Inis Grove Park Sidewalk Project. 2 CITY MANAGER’S RECOMMENDED ACTION: The Miracle Project in Inis Grove Park was created for all individuals and abilities. Completing the installation of the sidewalks along the east side of Duff Ave. and the north side of E. 24th St. ensures all bicyclists and pedestrians can safely access the park. Also, completion of this project ensures the City of Ames has completed all necessary requirements as outlined in the Community Attraction & Tourism (CAT) grant awarded to the Ames Foundation. Therefore, it is the recommendation of the City Manager that the City Council approve Alternative #1 as stated above. ITEM # 27 DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: ELECTRIC DISTRIBUTION PARKING LOT BACKGROUND: This project included the replacement of the Electric Distribution parking lot and retaining wall both of which were failing due to age. A new concrete parking lot was installed to accommodate the heavy truck traffic and a new retaining wall helped address the slope issues. On May 26, 2020, City Council awarded the project to Con-Struct, Inc. of Ames, Iowa in the amount of $218,003.80. Three change orders were administratively approved by staff. One of the change orders was for a revised completion date, one was for the addition of topsoil and tactile domes at the handicap accessible ramp, and the last was for an adjustment to actual quantities of supplies associated with the project. The change orders totaled $9,031.68, bringing the final construction cost to $227,035.48. This project is shown in the Capital Improvements Plan for Fiscal Year 2020/21 in the amount of $320,000. ALTERNATIVES: 1.Accept the Electric Distribution Parking Lot project as completed by Con-Struct, Inc., of Ames, Iowa in the amount of $227,035.48. 2.Do not accept project completion. CITY MANAGER’S RECOMMENDED ACTION : The project has now been completed in accordance with the approved plans and specifications. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as described above. 1 ITEM # ____28 __ DATE: 07-27-21 COUNCIL ACTION FORM SUBJECT: WATER TREATMENT PLANT LIME SLUDGE DISPOSAL CONTRACT RENEWAL BACKGROUND: The Ames Water Treatment Plant (WTP) is a conventional lime softening facility that generates lime sludge as a by-product of the lime softening process. The lime sludge consists primarily of calcium carbonate and magnesium hydroxide which is dewatered and stored in lagoons prior to disposal on agricultural ground as a soil conditioner. To continue to have adequate storage for the lime sludge, the lime sludge must be cleaned out of the lagoons annually. On May 8, 2018, City Council awarded a contract to Wulfekuhle Injection and Pumping, Inc. of New Vienna, Iowa, for the removal and disposal of lime sludge. The contract agreement calls for the removal of 28,000 wet tons of lime at a unit cost of $13.25 per wet ton, four dust control applications at $1,000 per application, and mobilization charges totaling $6,900 for a total contract price of $381,900. The contract is renewable annually for a total of five years, dependent on successful performance by the contractor each year. The contract unit prices are fixed for the entire five-year agreement. Work performed during FY 2020/21 is complete. A total of 25,156.04 tons were removed. There was one change order which modified the contract completion dates. The totals for FY 2020/21 are as follows. Lime Sludge Disposal 25,156.04 tons @ $13.25/ton $333,317.54 Mobilization 1 @ $6,900 ea. 6,900 Dust Control 1 @ $1,000 ea. 1,000 Total FY 2020/21 Contract Award $341,217.54 For comparison, the total authorized budget for FY 2020/21 was $381,900. In addition to accepting completion of the FY 2020/21 (Year Three) contract in the amount of $341,217.54, staff is recommending awarding the fourth year of the agreement to Wulfekuhle Injection and Pumping Inc. in the amount of $381,900. Lime Sludge Disposal 28,000 tons @ $13.25/ton $371,000 Mobilization 1 @ $6,900 ea. 6,900 Dust Control 4 @ $1,000 ea. 4,000 Total FY 2021/22 Contract Award $381,900 The amount authorized in the FY 2021/22 operating budget is $381,900. 2 ALTERNATIVES: 1. a. Accept completion of Year Three (FY 2020/21) of the lime sludge disposal contract with Wulfekuhle Injection and Pumping Inc. of New Vienna, Iowa, in the amount of $341,217.54 and release retainage accordingly. b. Award Year Four (FY 2021/22) of the lime sludge disposal contract to Wulfekuhle Injection and Pumping, Inc. of New Vienna, Iowa, in the amount of $381,900. 2. Do not accept completion of the FY 2020/21 work at this time, do not award the contract for FY 2021/22, and direct staff to rebid the work. CITY MANAGER’S RECOMMENDED ACTION: Wulfekuhle Injection and Pumping, Inc. has completed the FY 2020/21 lime sludge disposal contract. The original bid included the option to extend the agreement for up to five years, on a year-to-year basis. Staff is satisfied with the performance of the contractor and is recommending that the third year be accepted as complete and the fourth year be awarded. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as stated above. 1 ITEM # ____29__ DATE 07-27-21 COUNCIL ACTION FORM SUBJECT: FY 2022/23 ASSET PRIORITIES BACKGROUND: The ASSET funding process for FY 2022/23 will begin in August 2021. ASSET volunteers will conduct their agency visits to discuss services, gather information, and submit written reports that will be used for the agency hearings and work sessions scheduled in January 2022. Last year the priorities were kept the same as FY 2020/21 because the results of the 2020 Community Needs Assessment were delayed due to COVID-19. The City’s current priorities are as follows: #1 Meet basic needs, with emphasis on low to moderate income • Quality, childcare cost offset programs, including daycare and State of Iowa licensed in-home facilities • Food cost offset programs, to assist in providing nutritious perishables and staples • Medical and dental services • Housing cost offset programs, including utility assistance • Sheltering • Transportation cost offset programs • Legal assistance • Disaster response #2 Meet mental health and chemical dependency needs • Ensure substance abuse prevention and treatment is available in the community • Provide outpatient emergency access to services • Provide crisis intervention services • Provide access to non-emergency services #3 Youth development services and activities • Skill development and enhancement • Summer enrichment/prevention of loss of learning In early 2021, the Assessment results became available and the ASSET Joint Funders held a special meeting on May 5, 2021 where the Assessment process and results were presented. 2 Across all sources of the data collection methods used in the Assessment, the top health and human service needs are as follows (listed in priority order with the most important listed first): • Mental health services • Food security • Housing • Child care • Suicide prevention • Income The same Assessment presentation was given to the full ASSET Board on May 13, 2021. City staff met with the City ASSET volunteers in June to review the current priorities and compare them to the Assessment results. Overall, the needs categories and individual service areas under each category are supported by the Assessment results. The changes being recommended more closely align in priority with the Assessment results and add a couple of service areas. The changes include 1) re-prioritization of the mental health and substance use category over the basic needs category, 2) the addition of suicide prevention services, 3) the re-prioritization of food and housing over childcare, and 4) the addition of financial literacy and education. There were no changes made to Category #3 youth development services and activities. The volunteers are recommending the following set of priorities for the FY 2022- 23 funding cycle with Categories 1, 2, and 3 listed in priority order as well as the lettered services in each category: #1 Meet mental health and substance use disorder needs through A. Community-based and outpatient mental health services B. Outpatient emergency access and crisis intervention services C. Awareness and education about suicide prevention and services D. Substance use prevention and treatment availability #2 Meet basic needs, with an emphasis on low to moderate income through A. Food cost offset programs to assist in providing nutritious perishables and staples B. Housing cost offset programs including utility assistance C. Sheltering D. Quality childcare cost offset programs including daycare and State of Iowa licensed in-home facilities E. Financial literacy and education programs F. Medical and dental services G. Transportation cost offset programs H. Legal assistance 3 I. Disaster response #3 Provide youth development services and activities through A. Skill development and enhancement B. Summer enrichment/prevention of loss of learning ALTERNATIVES: 1. Approve the City’s ASSET priorities for FY 2022/23 2. Adopt modified priorities for the FY 2022/23 ASSET process. CITY MANAGER’S RECOMMENDED ACTION: The City’s ASSET volunteers have reviewed the priorities in light of the 2020 Community Needs Assessment and found that most of the needs categories and service areas were relevant to the Assessment results. The changes that are being recommended are intended to more closely align in priority with the six top needs from the Assessment. Therefore, it is the recommendation of the City Manager that the City Council approve Alternative No. 1, as stated above. Priorities for FY 2022-23 Categories 1, 2, and 3 are in priority order as are the lettered services in each category. #1 Meet mental health and substance use disorder needs through A. Community-based and outpatient mental health services B. Outpatient emergency access and crisis intervention services C. Awareness and education about suicide prevention and services D. Substance use prevention and treatment availability #2 Meet basic needs, with an emphasis on low to moderate income through A. Food cost offset programs to assist in providing nutritious perishables and staples B. Housing cost offset programs including utility assistance C. Sheltering D. Quality childcare cost offset programs including daycare and State of Iowa licensed in-home facilities E. Financial literacy and education programs F. Medical and dental services G. Transportation cost offset programs H. Legal assistance I. Disaster response #3 Provide youth development services and activities through A. Skill development and enhancement B. Summer enrichment/prevention of loss of learning This list of priorities is guided by the results of the 2020 Story County Community Needs Assessment. Rev 7/20/21