The URL can be used to link to this page

Home My WebLink About~Master - Proceedings layout from Dorsey & WhitneySeptember 4, 2025 VIA EMAIL Renee HallCity Clerk/City Hall Ames, Iowa Re: $337,000 SRF Sewer Revenue Loan and Disbursement AgreementFile No. 419370-79 Dear Renee: We have prepared and attach proceedings for the September 9, 2025, City Council meeting to enable the Council to set September 23, 2025, as the date for a hearing on the proposal to enter into the Sewer Revenue Loan and Disbursement Agreement in connection with the water resource restoration projects. The documents attached include the following items: Minutes of the City Council meeting, followed by the resolution fixing the date, time and place for the hearing. The form of notice is set out in Section 2 of the resolution. Please print an extra copy for delivery to the newspaper. Please insert the time and place of the hearing in both the resolution and the notice. Attestation Certificate with respect to the validity of the transcript. Organization and Establishment Certificate. Outstanding Debt Certificate with respect to the outstanding debt of the Sewer Utility. Publication Certificate with respect to publication of the notice, to which must be attached the publisher’s affidavit of publication with a clipping of the notice as published. The notice must be published at least once, not less than four (4) and not more than twenty (20) days before the meeting date set for the hearing, in a legal newspaper which has a general circulation in Ames. The last date on which this notice can be effectively published is September 19, 2025. As soon as the notice appears in the newspaper, please have a copy emailed to lemke.susan@dorsey.com. Please return one fully executed copy of these proceedings to us as soon as they are available. Please call Emily Hammond, Erin Regan, Lauren Baker or me if you have questions. Best regards, John P. Danos Attachments cc: Steven Schainker Roger Wisecup Corey Goodenow Kara Nady Susanne GerlachTony Toigo Lee Wagner MINUTES TO SET DATE FOR HEARING ON ENTERING INTO A LOAN AND DISBURSEMENT AGREEMENT 419370-79 (N/I) Ames, Iowa September 9, 2025 The City Council of the City of Ames, Iowa, met on September 9, 2025, at ______ o’clock __.m., at the ________________________, Ames, Iowa. The Mayor presided and the roll was called showing the following members of the City Council present and absent: Present: Absent: . Council Member _____________________ introduced the resolution hereinafter next set out and moved its adoption, seconded by Council Member ____________________; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of the said resolution and the roll being called, the following named Council Members voted: Ayes: Nays: . Whereupon, the Mayor declared the resolution duly adopted as follows: RESOLUTION NO._____ Resolution to fix a date for a public hearing on proposal to enter into a Sewer Revenue Loan and Disbursement Agreement and to borrow money thereunder in a principal amount not to exceed $337,000 WHEREAS, the City of Ames (the “City”), in Story County, State of Iowa, did heretofore establish a Municipal Sanitary Sewer System (the “Utility”) in and for the City which has continuously supplied sanitary sewer service in and to the City and its inhabitants since its establishment; and WHEREAS, the management and control of the Utility are vested in the City Council (the “Council”) and no board of trustees exists for this purpose; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2012 Bond Resolution”), the City has heretofore issued its $3,121,000 Sewer Revenue Bond, SRF Series 2012, dated November 16, 2012 (the “Series 2012 Bond”), portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2016 Bond Resolution”), the City has heretofore issued its $797,000 Taxable Sewer Revenue Bond, SRF Series 2016, dated September 30, 2016 (the “Series 2016 Bond”), portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2018 Bond Resolution”), the City has heretofore issued its $1,001,000 Taxable Sewer Revenue Bond, SRF Series 2018, dated February 16, 2018 (the “Series 2018 Bond”), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2021 Bond Resolution”), the City has heretofore issued its $5,107,055.19 Taxable Sewer Revenue Improvement and Refunding Bond, SRF Series 2021, dated February 19, 2021 (the “Series 2021 Bond”), portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2023A Bond Resolution”), the City has heretofore issued its $4,071,000 Sewer Revenue Bond, SRF Series 2023A, dated January 27, 2023 (the “Series 2023A Bond”), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2023B Bond Resolution”), the City has heretofore issued its $8,357,000 Taxable Sewer Revenue Bond, SRF Series 2023B, dated January 27, 2023 (the “Series 2023B Bond”), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2023C Bond Resolution”), the City has heretofore issued its $2,150,000 Sewer Revenue Bond, SRF Series 2023C, dated August 18, 2023 (the “Series 2023C Bond”), a portion of which remains outstanding; and WHEREAS, pursuant to a prior resolution of the Council (the “Series 2024 Bond Resolution”), the City has heretofore issued its $65,1850,000 Sewer Revenue Bond, SRF Series 2024, dated November 15, 2024 (the “Series 2024 Bond”), a portion of which remains outstanding; and WHEREAS, pursuant to the Series 2012 Bond Resolution, the Series 2016 Bond Resolution, the Series 2018 Bond Resolution, the Series 2021 Bond Resolution, the Series 2023A Bond Resolution, the Series 2023B Bond Resolution, the Series 2023C Bond Resolution, and the Series 2024 Bond Resolution (hereinafter sometimes collectively referred to as the “Outstanding Bond Resolutions”), the City reserved the right to issue additional obligations payable from the net revenues of the Utility and ranking on a parity with the Series 2012 Bond, the Series 2016 Bond, the Series 2018 Bond, the Series 2021 Bond, the Series 2023A Bond, the Series 2023B Bond, the Series 2023C Bond, and the Series 2024 Bond (hereinafter sometimes collectively referred to as the “Outstanding Bonds”) under the terms and conditions set forth in the Outstanding Bond Resolutions; and WHEREAS, the City will undertake the construction of certain water resource restoration projects (the “Projects”); and WHEREAS, pursuant to Section 384.84 of the Code of Iowa, the City has the authority to issue revenue bonds to pay for such qualifying water resource restoration projects; and WHEREAS, the Iowa Finance Authority (the “Lender”), as lender for the Outstanding Bonds, has agreed to provide financing for the Projects by providing a 0% interest loan to the City for the Projects; and WHEREAS, the City now proposes to enter into a Sewer Revenue Loan and Disbursement Agreement (the “Agreement”) with the Lender and to borrow money thereunder in a principal amount not to exceed $337,000, pursuant to the provisions of Section 384.24A of the Code of Iowa, for the purpose of paying the cost, to that extent, of constructing the Projects; and it is now necessary to fix a date of meeting of the City Council at which it is proposed to take action to enter into the Agreement and to give notice thereof as required by such law; NOW, THEREFORE, Be It Resolved by the City Council of the City of Ames, Iowa, as follows: Section 1. The City Council shall meet on September 23, 2025, at _______ o’clock ___.m., at the _______________________, Ames, Iowa, at which time and place a hearing will be held and proceedings will be instituted and action taken to enter into the Agreement. Section 2. The City Clerk is hereby directed to give notice of the proposed action on the Agreement setting forth the amount and purpose thereof, the time when and place where the said meeting will be held, by publication at least once, not less than four (4) and not more than twenty (20) days before the meeting, in a legal newspaper which has a general circulation in the City. The notice shall be in substantially the following form: NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A SEWER REVENUE LOAN AND DISBURSEMENT AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $337,000 (SEWER REVENUE) The City Council of the City of Ames, Iowa, will meet on September 23, 2025, at _______ o’clock ___.m., at the _______________________, Ames, Iowa, for the purpose of instituting proceedings and taking action on the proposal to enter into a loan and disbursement agreement (the “Agreement”) and to borrow money thereunder in a principal amount not to exceed $337,000, for the purpose of paying the cost, to that extent, of undertaking the construction of certain water resource restoration projects. The Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation but, together with the City’s outstanding Sewer Revenue Bond, SRF Series 2012, dated November 16, 2012; Taxable Sewer Revenue Bond, SRF Series 2016, dated September 30, 2016; Taxable Sewer Revenue Bond, SRF Series 2018, dated February 16, 2018; Taxable Sewer Revenue Improvement and Refunding Bond, SRF Series 2021, dated February 19, 2021; Sewer Revenue Bond, SRF Series 2023A, dated January 27, 2023; Taxable Sewer Revenue Bond, SRF Series 2023B, dated January 27, 2023; Sewer Revenue Bond, SRF Series 2023C, dated August 18, 2023; Sewer Revenue Bond, SRF Series 2024, dated November 15, 2024; and any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Municipal Sanitary Sewer System of the City. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter. By order of the City Council of the City of Ames, Iowa. Renee HallCity Clerk Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved this September 9, 2025. Mayor Attest: City Clerk • • • • On motion and vote, the meeting adjourned. Mayor Attest: City Clerk ATTESTATION CERTIFICATE: STATE OF IOWASTORY COUNTY SS:CITY OF AMES I, the undersigned, City Clerk of the City of Ames, do hereby certify that attached hereto is a true and correct copy of the proceedings of the City Council relating to fixing a date for a hearing on the City Council’s proposal to take action in connection with a loan and disbursement agreement, as referred to therein. WITNESS MY HAND this ________ day of ____________________, 2025. City Clerk ORGANIZATION AND ESTABLISHMENT CERTIFICATE: STATE OF IOWASTORY COUNTY SS:CITY OF AMES I, the undersigned City Clerk, do hereby certify that the aforementioned City is organized and operating under the provisions of Title IX of the Code of Iowa and not under any special charter and that such City is operating under the Mayor-Council form of government and that there is not pending or threatened any question or litigation whatsoever touching the incorporation of the City, the inclusion of any territory within its limits or the incumbency in office of any of the officials hereinafter named. And I do further certify that the following named parties are officials of the City as indicated: ____________________________________, Mayor ____________________________________, City Manager ____________________________________, City Clerk ____________________________________, City Treasurer ____________________________________, Finance Director ____________________________________, Council Member/Mayor Pro Tem ____________________________________, Council Member ____________________________________, Council Member ____________________________________, Council Member ____________________________________, Council Member ____________________________________, Council Member I further certify that the City established the Municipal Sanitary Sewer System (the “Utility”) and that the Utility has been in continuous operation by the City since its establishment as aforesaid in supplying sanitary sewer service to the City and its inhabitants. I further certify that the management and control of the Utility are vested in the City Council of the City, and that no board of trustees exists which has any part of the control and management of such Utility. WITNESS MY HAND this _______ day of ______________________, 2025. City Clerk OUTSTANDING DEBT CERTIFICATE: STATE OF IOWASTORY COUNTY SS:CITY OF AMES I, the undersigned, City Clerk of the City of Ames, Iowa (the “City”) do hereby certify that the City has no bonds or other obligations of any kind now outstanding which are secured by and payable from the revenues derived from the operation of the Municipal Sanitary Sewer System (the “Utility”), except as follows: Date Type Principal Amount Outstanding Maturity 11-16-2012 Sewer Revenue $______________ 06-01-2033 09-30-2016 Sewer Revenue $______________ 06-01-2036 02-16-2018 Sewer Revenue $______________ 06-01-2038 02-19-2021 Sewer Revenue $______________ 06-01-2038 01-27-2023 Sewer Revenue $______________ 06-01-2042 01-27-2023 Sewer Revenue $______________ 06-01-2042 08-18-2023 Sewer Revenue $______________ 06-01-2043 11-15-2024 Sewer Revenue $______________ 06-01-2046 (Attach here a separate sheet listing any other outstanding obligations of the City secured by and payable from the revenues of the Utility excluding the proposed issue.) WITNESS MY HAND this _________ day of _____________________, 2025. City Clerk PUBLICATION CERTIFICATE: (PLEASE NOTE: Please do not date and return this certificate until you have received the publisher’s affidavit and have verified that the notice was published on the date indicated in the affidavit, but please return all other completed pages to us as soon as they are available.) STATE OF IOWASTORY COUNTY SS:CITY OF AMES I, the undersigned, City Clerk of the City of Ames, do hereby certify that pursuant to the resolution of the City Council fixing a date of meeting at which it is proposed to take action to enter into a loan and disbursement agreement, the notice, of which the printed slip attached to the publisher’s affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City. WITNESS MY HAND this _____________ day of ____________________, 2025. City Clerk (Attach here the publisher’s original affidavit with clipping of the notice, as published.) Page 1 801 Grand Avenue | Suite 4100 | Des Moines, IA | 50309-8002 | T 515.283.1000 | F 515.283.1060 | dorsey.com Ames/419370-79/ 1st ½ - Sewer Rev & Refi (WRR) -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Ames/436989-36/1st ½ - Rev C:\Users\hammond.emily\My Documents\ND Office Echo\VAULT-OA\1st Half Set Hrg Sewer Rev Imp & Rfdg LDA (WRR) (Ames #21 2022) 4842-2152-0311 v.1.doc -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA