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HomeMy WebLinkAbout1990-12-11 Resolution ~,,' '.(1 . . . rl -' I ;~' i~' , - Rf:SOWTl~~. 90-221 qESOI,lfTlo." TO ISSlIE D,\"CISCi PER'I/T 8E IT Rf~'iOI.\'E1l 8)' nm ell)' ca&IL or- I(X~A ell)', liliA, Ihnt a Dancing rel1lllt .1S prol'lded by law Is hereby granted to the following IllIlrod person lInJ at the following llescrlbcd local Ions upon his f1lln,ll an application, h.wlng endorsed thereon thl1 cl1rtlfleates of the proper city officials as to ~1vlng compIled wllh all regulations and ordl~1nces, and ~1vlng a valId beer, liquor, or wlnl1 IIcl1nse/pcl1lll I, to loll t: Cnbo'8. ))0 E. Wn'~lnRton Stroot I It ~ns moved by Ambrl8co and sl1conded by Lnr80n 1~1t the Resolution as read be adopll1d, and upon roll call there ~'Cro: , , , I I I , I I , I I I I \ I II I ". II . , , I I ", I I ;198 I I I I , I I i I , I' I i I I I , I, ~ ' ,I " \ , ' rl 'I' ;:,' ,:, - -- RESOLUTION NO. 90-222 RESOLUTION SETTINC PUBLIC IIEARINC ON PLANS. SPECIFICATIONS. FORM OF CONTRACT AND ESTIMATE OF COST FOR TIlE CONSTRUCTION OF FISCAL YEAR 1991 SANITARY SEWER PROJECT DIRECTlNC CITY CLERK TO PUBLISII NOTICE OF SAID IIEARINC. AND DIRECTINC CITY ENCINEER TO PLACE SAID PLANS. ETC.. ON FILE FOR PUBLIC INSPECTION BE IT RESOLVED BY THE COUNCIL OF TilE CITY OF IOWA CITY, IOWA: 1. That a public hearing on plans. specifications. form of contract. ond estimate or cost ror the construction or tha above- named project Is to be held on the 8th day of January. 1991, at 7:30 p.m. In the Council Chambers. Civic Center, Iowa City. Iowa. 2. That the City Clerk Is hereby authorized and directed to publish notice of the public hearing for the above-named proleet In a newspaper published at least once weekly and hav ng a general circulation In the city, not less than four (q 1 nor more than twenty (201 days berore uld hearing. 3. That the plans, specifications. rorm or contract. and estimate or cost ror the construction or the above-named project are hereby ordered placed on file by the City Engineer In the office or the City Clerk for public Inspection. It was moved by AmbrlBco and seconded by Lnrson that the resolution as readbe adopted, and upon roll eDlriliere were: a:illi ..L ..L ..L ..L ..L NAYS: ABSENT: AMBRISCO COURTNEY 1l0ROWITZ KUBBY LARSON ..L McDONALD NOVICK - ..L Passed and approved this ..!.ll!l. day or Oaccmlwr . 1990. ~ n.olk.n.Jfj OR Pro; lonl APPROVED AS TO FORM J./99 LI ii Ii Ii i I' I I A"L l" ',IJ . r [I 'I ;~' . LI RESOLUTION NO. 90-223 RESOLUTION ACCEPTlNC TltE WORK FOR THE HICHWAY I AT 1-80 PAVINC IMPROVEMENT PROJECT WHEREAS. the Public Works Department has recommended thot the work ror the Highway I at 1-80 Paving Improvement Proleet as Included In a contract between the City or Iowa City and Metro Pavers. Inc. of Iowa City. Iowa dated September 5. 1989, be accepted. NOW THEREFORE BE IT RESOLVED by the City Council or Iowa City. Iowa. that said Improvements ba accepted by the City or Iowa City. It was moved by Amhrtnco and lOeonded by I.Rnon that the rOlolutlon os read be adopted, and upon roll call there were: APPRJ:~~ Ity Attorney's orr co ATTEST: CI Y jJ - </---, () ~~()O ! I Ii 'I Ii ii 'I II , (:1 I I I I I I' I I I I i I , i " " I ! , ' I ~ j - - a II 't: t:' S IJ ~ , . : "''l,~.._____ CITY OF IOWA CITY ENCINEER'S REPORT December 6. 1990 Honorable Mayor and City Council Iowa City, Iowa Dear Honorable Mayor and Councllpersons: I hereby certify that the construction or the Highway 1 at Interstate 80 Paving Improvement project has been completed In substantial accordance with the plans and spec fleatlons or the Engineering Division or the City or Iowa City. The toto I construction cost or this project Is $1,087,223.42. or this amount. approximately $963.000.00 Is expected to be reimbursed by the Iowa Department or Transportation through 4R (Rehabllltotlon, Resurraclng. Reconstruction and Restoration) and RISE (Revitalize Iowa's Sound Economy I runds. I hereby recommend that the above-rerereneed Improvements be accepted by the City of Iowa City. Sincerely, J7,.v'-/ ~/tAf[ , , I , I I Richard A. Fosse. P.E, City Englnear 410 rAI1 WAllllh010h 11~f11 .10'" fI1\'. lOW" 11140.11" '111'1 11..toOO' fAk III" 11'.100' ;.~~o '0 I,(;l a [I "... i~' h RESOLUTION NO. 90-m RESOLUTION ACCEPTINC THE WORK FOR THE SYCAMORE VIEW SANITARY SEWER AND PAVINC PROJECT WIlEREAS. the Engineering Division has recommended that the Improvements covering the Sycamore View Sanitary Sewer and Paving Project as Included In a contract botween the City or Iowa City and Metro Pavers Inc.. or Iowa City. Iowa dated July 16. 1990. be occepted and WHEREAS. the performance and payment bond has been riled In the City Clerk's orrlee, NOW. THEREFORE. BE IT RESOLVED by the City Council or Iowa City. Iowa. that said Improvements be hereby accepted by the City or Iowa City. Iowa. It was moved by ~ ond seconded by I,nrnon that the resolution iii'riDd-be adopted, and upon roll call there were: AYES: - NAYS: ABSENT: AMBRISCO COURTNEY 1l0ROWITZ KUBBY LARSON McDONALD NOVICK x - -L -L -L -L ...L - - ...L Passed and approved this 1.l1l1 day or nmmbor . 1990, , I ATTEST: ~.....~..) ~ .J/u-J CITVUERK I' J~()I ~ I,j)- o fl 'I ;~' .-, ~ ENCINEER'S REPORT "''',.fo'l.o,..___ CITY OF IOWA CITY December q, 1990 Ilonorable Mayor and City Council Iowa City, Iowa Dear Ilonorable Mayor and Counellparsons: I hereby eertlry that the construction or the Improvemants ror the Sycamore View Sanitary Sewer and Paving Project has been completed In substantial accordance with the plans and specifications or the Engineering Division of thlJ City of Iowa City. The required performance and payment bond Is on file In tho City Clerk's orrico. Tho final construction cost amounted to $36,QI6.00. I hareby recommend that the abovo-referoneed Improvements be accepted by the City or Iowa City. Sincerely, #~1-jJ 41).Lt I I , , Richard A. Fosse, P.E, City Engineer c: \eounell\engblnk2. rpt ,. \ ,I I ) t.o I AI' VI AIIII Prl (J 1 0" It .111 . 10" A r II t 10"'\ .1141.1111. 111'1 1".tooO. t.o. Illtl U'oI00' ,z~()1 l"'\ l[ , a [I " i~' FI RESOLUTION NO. 90-m RESOLUTION ACCEPTINC TIlE WORK FOR TIlE PAVINC IMPROVEMENTS FOR SAMUEL DRIVE ADDITION WHEREAS, the Engineering Division hos certllled thot the following Improvements hove been completed In accordance with the plans and specifications of the City or Iowa City. Paving Improvements for Somuel Drive Addition 01 constructed by Metro Pavers, Inc. or Iowa City, WHEREAS. molntenonee bonds hove been flied In the City Clerk's of lice, NOW. THEREFORE. BE IT RESOLVED by the City Council of Iowa City. Iowa. that sold Improvements be hereby accepted by the City or Iowa City. Iowa. It WOl moved by Amhr18co ond seconded by (,arson thot the resolution os reod be adopted, ond upon roll call there were: AYES: NAYS: ABSENT: AMBRISCO COURTNEY HOROWITZ KUBBY LARSON McDONALD NOVICK x X- - -L -L -L - -L - - -L Passed ond approved this llih day or Oecomher . 1990. c: \eounell\occpwrk2. res " I I , ,I ,I 'I ,. " I' II Ii II , I , , , ~ I ! . 2.:J-()~ I, \ ' L til, nt-I 'I ':, GI ' 1I _ . 1.:.. :: '" .::' ,( , J .) ~ ENCINEER'S REP\')RT -. ,~.._- . CITY OF IOWA CITY December q, 1990 Honorable Mayor and City Council Iowa City, Iowa Dear Honorable Mayor and Councllpersons: I hereby certify that the construction or the paving Improvements ror Samuel Drive Addition has been completed In substantial accordance with the plans and specifications or the Engineering Division or the City or Iowa City, Tha required maintenance bond Is on file In the City Clerk's ofrlee for the paving Improvements constructed by Metro Pavers, Inc. or Iowa City. I hereby recommend that tha above-rerereneed Improvements be accepted by the City or Iowa City. Sincerely, /7~/4~ I I ,: .' :i ii ;! I" II " II " , ". ~ : I i j ." Richard A. Fossa, P.E. City Engineer c: \eounell\engblenk . rpt , , .. tit '''IT 'UlllhO'O" AUII'. 10..... fiT\' 10"'" IIUO.IIU 'I)ltl 1"-tolO' ,'''_ 111t1 1".SOot J.~o~ o [I ~ L, n " I TO: FROM: RE: City of Iowa City MEMORANDUM DA TE: December 6, 1990 City Council and CIty Manager Donald J. Yueuls, Ftnanee Director P8;r 1990 General Obltgatlon Bond Issue Attached Is the tnform.ltlon prepared by Hr. Ken Ilaynte, the CIty's Bond Counsel, regardIng the 52.3 mtllton dollar bond Issue. Certain sect tons tn the documents are blank and wtll be completed after the bid opentng at 12 noon on Tuesday, December 11, 1990. The completed documents will be presented to you the evening of the Council meettng. Wayne Burggraarr and David Dtrks from Evenson Dodge wtll be at the Counetl meettng on Tuesday to answer any questions regardtng the btd. ~2~(p ..- " ',. Ii :1 'I , I I ,I ;'1 I '. I " . ! I I I I i I I j I I I' . , , I I .\ I , i I ,1 I , " a [I' :/ ,Lt . I' , '\ NOnce 01 BONO SAlE T1mt I/ld IllIcI d S.If: TIlt IIiI d bonds d lilt cay d IOwI cay, Iowl, wi be htId II lilt CMcI Cl1ambtrI, CMc ell'll<<, .'0 t WUI1/ngIon St, In lilt cay d Iowa cay, Iowl (\Ill 'IIW),II 12,00 o'Clocll noon. on lilt I IllIlWf d Otctm- bel, lGOO. SIIItd BIdt: SIIItd bIdI wi be '1C1h'Icl1l1llt ome. d IhI FInanct 0lr1d0l1S IlIlId Illait, lnIlIlt FInanct DndOI docIatllllltlma lotlhl NIng d INlod bIdt 10 be ClotId. TIlt bIdt w1Ilh1n be pulllIcIf opnd III1ltIllait pIact d NIl and IhIIIlftIl ,III1T1d lot aaJon 10 lilt mMlfng d IhI cay CMcI 10 be htId on IIltIllait dall II 7:30 o'Clock P,Il\ TIlt Oonds: TIlt bondl to be oIfllld III lilt foDowfng: GENERALOBlKIAOON BONOS, InllltprlncJpalll'nOll'Cd $2,300,000,10 be dalOd OtctmbtII, Ill'JO, In IhI cltnOIriIIllOn d $5,000 01 mullplts IhIItcII, and 10 mIlUlI IS follows: PrfncipII "'Ilurty AmoUI'Il abWII ~,OOO 1m ~,ooo 1893 ~,OOO 18')4 ~,ooo 1m ~,OOO IIl'JG ~,ooo 1m ~,OOO lU'Je ~,ooo 1D'J9 225,000 2000 ~,OOO 2001 ODlIonal RodomDlIOn: AI d IIld bondI due a1111 Jurla t, 11l'J8, WIll be IubjocIlO cd pr1OIlO mIlUltt In whoIa 01 kom IImt 10 Umo In pili, In IJIf 0Idt1 d mIlUltt and Wlhfn a mIlUlIIy by IoC on IIld dala 01 on IJIf ~OIo11 plyl1lllll dalo lhoroallll II lilt option d IhlIasUII, upon IIIIllI 01 par pkls ecClUOd WIIUllo dale d cd. 1!lWul: 'nfOl'1I on IIld bonds WIll be payablo on Juno t, !O'JI, and 1ImI.1MUIIti on lilt IlIlWf 01 OocomOor and June IhlroallOl. Principal and Worlll WIll be payabll litho 0fIlc1 01 IhI CIIy CordIOIIor,Iowa cay,lOWL RlllllllatlOn: Tha Bonds wta be Issuod In glObal book Intry lann IS mOIl !uti dOlCllbod In tho 0fIlc1al Slat.mont. TIlo 'lSuor has doslgnatod IhI CIly ConIrOllor 01 low. CIIy, Iowl, IS the InJtlalreglstrar. Not mOI.1htn tlftOOl1 (I~) day. aIlOllhO bond tal. dill lilt purchasor IhaI1 notltf the Registrar 01 IhI namos and lax Idoollfleallon oumbor. 01 regls1.rod ownotIlo be Ihown ..lilt InJtIaJ dolNory 0I1hI bond" Ihowlog p!1ntlpallll1OUlll' '0I11Ch IIlnual matUllty, OlhOrwlH IhO bondI WIll be roglllorod In lilt name 01 tho bIddor Olin tho name oIlhO first partlelpanlllstod In IhI bid. Bid Socurllv: A good lalth dopoelt In tho amount 01 $018,000 mull be lijbmlltod whh lhO bid, mod whh EVGl1IOn Oodgo, Inc. In acNlIlCo 01 bid oponing 01 wlrod ImmodIaIO~ following bid oponlng 10 a bI/1J( dosignatod by tho 'lSuor, ThO bid IOCUfIty will be dopoahld IIth.llmo 01 award and dldUC11d 'rom lh. purchase plleo allhl tlmo 01 Closlog, No bid rNy be whhdrlWll aIlorlhe IImt lOt '01 oponlng bids unIl1lho conclusion oIlhO :2..?~~ " [I. =, ,LI j:~ ' 2 IT1HIInO 01 U1f 1_ II wNcIl bIda III 10 blldld upon. unItu IhIIT1HIInO 0I1hI "-1ChIdulId lot tonIldIIlllOn CI bIda II 1d/OUmld. rIC4IIId, 01 corclnuld 10 IIlOIhII dill WlhoIA ewlld ClIhlIlondIIIMlg been midi, Form CI Bldl: AI bIdIlhII bI ooeondalOnal PCfIIl U PfOYtded In IhII ~, lot In dlW CI bondIlOIl pt1ca noIlesa Ihan &9, 1 ~ CI pat, ~ ICCIUId rill.... Ind IhalIIpoctf U1f 11I1 01 Ill.. CI rill. In COdcIITIIy 10 IhI ImllIlIont CI U1f IolIowIng PIIIQlIph. BIdlIIlUIt be IIAlmInId 011 01 In aubltllllill CCIIljlIanct WIll IhI CIllcla/ bid 101m PfOYtded by U1f '-. Tho bondl wi blewWld 10 IhI bIddtr CllIIlng IhlIowtsl rllIlSt COIl, wNcIl wi bI dtlllTl'llnld by IQglagIllng It'/i pemlIssIbIt dlscoIn, 'It'/i, WIh IhI rllIlll paylblt by U1f l_lNtIlhlltl ClIhI bondIln accordancl wllh Ih1IIIII1I ClIICh bid PfIWllId, Ind dIductklg ,,*"rom lilt p1am11m, . It'/i, lIipulIlod In aaJd PfOPf)lll All" CllnlOI"': TIle Illot CllntlrOSl Ipoctioclln IhI blddel'1 ptopoaaI nw corIonn 10 1hI1mII1l1ont 1olIowIng: 1. AI bonds CI IICh I/nlIl malUlIly must boat IhI WIll Into/OS! 11I1, 2. All" 0I1nt1l0Sl bid IIlUIt bJ In rooftlplos CI 0IIHIgtth 01 ono,twanlloth CI 011I pGfClnl. 3. Each rill 0I1nt1l0Sl apdIod 101 bondI ClIt'/i I/nlIl malUlily IhaIl noI bllIsa Ihtn I rSlI ClIntIlISt Ipoctiocl 101 atIi eat1Itr malUlily, l1i!rillt: TIle bondI wII be dellvllld, wftholA Pponsa 10 \he pUIt/1UeI II Inf 1ll'J~ ICCIpllbll bank Ind trust company I/l'fNhIIlln IhI corcInGnIII UnIIld SIIlIS, agIinIl MI paymonlln ImmedIalI+{ avallolbll CUh OIladellllUIldI. Tho bonds II' IXpoded 10 bI dohed wfthIn IhIr1y days 11I01 lilt aalo. Should do~ be dolayed beyond a<<1y days bom dIl. 0/ aalo 101 atIi roason hClp! IWI 0/ podOll1lll'iCt by IhI purcha50I, lilt purclwot may wl\hdrew his bid Ind lhoIlIIlOl his 1nl00est In IIld IablIoly IOIIhI bondI will COI5t. (Wllan lilt bonds arl rlaltf 101 dollvtfy,lIlt IIIUOI may glv.1Ilt IUCCtssM b1ddOlIlva working days noIlcl ClIhI dallvlry dill IIld lilt lsauar win IXpod paymanl In run 011 lIIIl dill, OlhIrwlsl reslrvlng lilt right II is 0plJ0n 10 datarm/nt lIIIllllt biddoI has Ialled 10 comp/f wIlh lilt oller 0/ purchua,) Conltlclllo 0/ PurchuOl: The Purclwot ClIIlt Bonds will be required as I COIldnlon CllhG 141110 IxlCIIIllIld lubm.llo Iht lsauer wfthln 15 days after lilt dllo 0/ 1aI1, a CIl11t1c1l1 In I 101m aatlslactory 10 IhlllSUGr as 10 lilt InllIal oII01Ing prIc. CI Ihl Bondi 10 Iho public (noIlncludlng bond houses Ind broko,. 01 similar parsons 01 OIgan~allont acting In the capaclly CI undorwrnlre 01 wholOsalfrs) al which prlcl a subsloll1llol amount of lhe Bonds (noIloss Ihtn 10'4 CllOch molurlly) wIre In loct ooId, IIld conlfylng lhol \he prlcos 110 noI grealor than as Iflown OIIlhG Cortnlclll and Ihlllhe prices III noI urvo03Oll. ablf low. 0f!1c1a1 Slllomonl: Tho 0IfIc1al Slllomonl, whon lunhor lupplomonted by an addondum 01 Iddondo lpaclfylng Iho maturlly dIlos, principal amountl, and Inlorll1 ralos of lho Bonds, IIld atIi otllOllnlOlll1OlIon required by law 01 doomed appropr1alo by lho 1IIUOI, IhaII constftulo a 'FIn4I 0f!1cIaJ Slatomonr 01 \he IsaUl! wIlh rospod 10 Ihe Oonds, as lIIIllorm Is doIInod In Rule 1~.12 Cllho Baculft/to and Exchango CommlsaIon Oho 'Rule'). By awlldlng lho Bonds 10 any :2~~ . rl" :/ LI ':/ - 3 ~ff rx lIlCltnIItI'1g 1yIldbl. flbnIlklg 111 0I'/lefaI Bid Frxm ~OI. Ihf IIIUtI ~ lhII, no morllllll1lMn (7) lWleq dIyIlftff Illf dill d IUCh IWIId, I IhII prOYldl lIIIhcIA COIl 10 Ihf NI1Iot IlIINglng ~ff d Illf IyIldICIlI 10 wNcIIlhf BondI III IWIIllfd up 10 100 topift d Illf 0I'/lefaI StII~ II1d lhI IClclInMI dIscIlbId In lhI prlCfdlng IIItIllCt 10 PlllnlIICIl'P1IllCfpIt1ng UnclI!wrItl' (II II\IIIIIl1l II dtftntd In Ihf IIIH) to CIOIIlptf llth lhI prOYIIIonI d IUCh IIIH. TIlIlUUlllhIIl1NIlhf NI1Iot IlIINglng lM'dIrwrIff d Illf IytldIcelllO wNcIIlhf BondI III IWIIdod II .. dnlgna!1d .. 101 P\IPOIfI d ~ topift d Illf FInII 0I!IclIl Stll~ 10 IICIl pI/lJcJpII.ng UnclI!wrI.,. Ani lM'dIrwrIlI hlClAlng II1d clIl!vIt1ng 111 0fftcJal Bid Fcnn llth lISped 10 Illf BondIIgfHl IhIrIl7f 11\II1 .. bld IiIICC1plDd by lhIllSUII, (9 I IhIIICCIplIUCh dfa/gnIlJon II1d (11) I WI en., irlo I CClRtItlull llIIllonahIp will II P~1ng UndGtwll", d Illf BondI 101 plIpOIM d ISIlM1ng Illf ~ by HCII IIlCh PI/lJclpIlIng Undttwrt., d Illf FInII 0IlIclal S1IIIm1rt CUSIP N~: "1iI111l1clpllDd lhII CUSIP numborI will bI pr1nl1d on Illf banda. In no filA wIIIlllf IIIUtI bI rlSpan. dill 101 Of Bond Ccwtl IMIw Of hpIlS1l/ri opinion d Illf correanou d IUCh runbol1, II1d Incorrld numborI on NId bondIlhd noc bI ClUlllOIlhI purc/las<< 10 rMlo letopC dtMy d uId bondI. Leaal OolnloQ: Slid bonclI wII bllCld IUbjoct 10 IhI opinion d MIIII, Coonoy, llOfwtDtt, Haynie, Smlh & ADbot, P,O" AnOlllOyl d Dot Moines, Iowl, U 10 lhIlegaIfty II1d lIlolr opinion wII bI fIlnIIhod logelhIt wllh Illf pr1nlDd bondI wIlholA COI\ 10 lhI P~ II1d II bIdI wII bllO condIlJonod. ExclpC to !hIlXlen IlOCOSSaIy to IIIuIIhIlr opinion U 10 !hi IogaIIv d tho bonds, !hIII101llOy1 wII noc oxam1n8 01 rlYlM 01 I.prllll/ri opinion wIlh rDSpOCllo !hI1CCIt1Cy Of complot.. IlIII d docIInIru, matlllall Of ItIlImllU made 01 fumIWd In connection llth !hI1IlI, IsauII1ct 01 marlIlllng d!hl bondI. TIll opinion wII bI pr1nlDd on IhI baclc d !hi bondI. RIaIltI ROHMd: TIll rightla ItlllVDd 10 IIloct I/ri 01 all bids, II1d 10 wat-lll/ri nogulathlol U doomed 10 be In !hi besl 1nI111St1 d !hi pub/IO. By Ofdfl d !hi Oily CounclI d IhI C4y d lowl Oily, Iowa. )7~I~AI) ,r ~ Oily kdlhlOllyol Iowa Oily, lowl i ii :;.~(, rl :1 L, L/, \ - City of Iowa City MEMORANDUM OA T E: December II, 1990 TO: FROM: RE: City Council and CIty Manager Donald J. Yueuis, Finance Director OMr Agenda Items '8 and 9 . 1990 General O~l~gation Bond Sale Attached you will rind the results of the bids for the $2.3 mt1lton General Dblt9atfon Bond issue. Thirteen bids were submitted. The lowest bid was received from United Missouri Bank of Kansas City/First National 8ank or Iowa City with a net rate or 5.99411. The memo Includes comparable sales of like issues over the last two days, the tabulation or bids and historical sales for the last three yem, I am very pleased with the bid response and extremely pleased with the ratelll I , I I II \i I 'I i !. Ii I, II , i I . " , _.\ I I \ , 1 , l i l ~ I I j " f i I ! I l I I ! i , i I I I , ~~~ . ,-f r:, LI c, , - ~~ EVENSEN DODGE,INC. 'I' . "\1'.. 'I", TO: A John McDonald, Mayor Randy L.1rSon, Cily Councilman William J, Ambrisco, Cily Councilman Karcn Kubby, Cily Councilwoman Susan M, florollil%, City Counelllloman Naomi Novick, Cily Councilwoman Dnrrel G. Courtney, Cily Councilmen FIl0~11 Wayne S, Burgsraarf, Senior Vice Presldenl David M. Dirks, Vice President Evensen Dodge, Inc. SUBJECTI Report of BIds on S2,300,OOO General Obligation Bonds At 12:00 noon this dale, December II, 1990, thc scaled bids tabulated below wcre recelwd, opened and rcvicwed. The bIds rcOccl excellent response from the underwrlllng communll)' and are Indicative of the current eondilfons in the IOX.exempt market. IlliIdu AlWwJ ~ CllW.B UNITED HI SSOURI KANSAS cm S815,206,25 5,9941 % --- HARRIS TRUST CH I CAGO S817 .641.00 6.012 % " - Ij GRIFFIN, KU81K CHICAGO S817 .984.38 6.0145 I~ , ' --- iI i OAIN BOSWORTH OMAHA S818,468,75 6.0181 % - CLAYTON BROWN CHICAGO SB20,088,25 6.0300 Ie I --- FIRST TENNESSEE BK, MEMPIIIS SB20,193,75 6.03083&' I i - I mER JAFFRAY ~ SB20.397.QL 6..mJ. ~ i i DEAN illIER .QlJ..CAGO $B23.300.25 Ulli. It I NORTHERN TRU~ .QmAGO $824.076.00 ~~( FIRST WISCONSIN ~ $m.922.75 6...Qlli.. r' .r COM.~ERCE BANK ~ $825.337.16 6.&W. q. KEHPER CAPITAL MKTS, .&!liMO $m.32Q.55 6..JL % EDWARD 0, JONES ~ $ .lli.a.ill...1L 6.Jlli. % We reeommcnd award to: UNITED HISS UR &r RS N A A CITY, Thank you for the opportunlly 10 be or service 10 your City, We are 01 your sel'\'I('C lhroughoullhe Ilfe of Ihls Issue. December 7, 1990 nllCnurl "WIlUI' \U1II'J1\ l>t',.\Inlnl" 11",,1 \OltJll \1\/I"HII" ,~\ 11\ 1"/11111 I ~~ fl :1 .L' h ~.l EVENSEN DODGE,INC. I,.. f'" . j. I U" 'I If. ... I , Comparnlln Sales (Sluer DIle Arnounl 10111 CIIY 12.11 52,JOO Cedu Rlp/ds 12.10 54..l10 Au Yes , ! I ! 1 I \' 'I I \ r , t ! I . ! ~ n I I , t t ~ , , I ! , , , , t I t Rllln, Dink QUlllned Yields 1992 1993 1994 1995 1996 1997 1998 1999 20c0 2001 5.50\\ 5.ro~ 5.70\\ 5,751 5.80% 5.m 6.oo9f, 6.109f, 6,20% 6.m Au Ye, 5.40 5.50 5.60 5.70 5.70 5.85 5.90 6.00 6.10 6.20 l1XlCnU'1 A,,'nUI'. lUllol11 1~'IMnl""I.IrI\\,'\OIIll 11l1l8l-hIl/l fA111I i8N!lli Fridley. MS 12.10 51,615 /ul Yes 5.50% 5.60\\ $,70\\ 5.8010 5.m 6.0010 6.05% 6.1010 6.20% 6030\\ 2- :;.~~ I I I I I I I I , I i f t I ! I i I I. labF/1 - (1 [t :/ L, .-, ~~ EVENSEN DODGE, INC. , ",., I, . 11\... " \" TABULATION OF oms S^I.f:l.I^TEa Tunda1, DKrmbrr 11,1990 Our: Dra:mbrr I, 1990 SpIlU: 10 1Q11nl: A3a BIDDERS ~ CL\ YTOS BROWN .~ ASSOCI" TES ChlQIO KEMPERCAPITALMARKETS ChIQIO 1((1 Court -",wnul'. \11111' 11\ 1>..\ Mfllnt., IfM,1 ~olm \1\ m',"H '~\\IUHJ.lJI\l CII1 or 10MI CII" lUlU 5%0300,000 Grnml Obl/lallon I/nndl ! Bond Yrm: 13.600,00 Prla:: NOllrlS Ihan 52,279.300 Xw Bit ~ 1992 1993 199~ 199' 1996 1997 1998 1999 2001 2001 1992 1993 1994 199' 1996 1997 1998 1999 2001 2001 D3lrd: Junr 1,19'J2.~OOI ""rralr LIr~: 5.91 BBI: 7,Ut',"i fLkl: $ 2.280,411. 75 ~ $ 820 ,088. 25 ~ 6.03S , i II ' ! i I i I I I J , I , I fLkl: ,$ 2.283,435.70 ~ S 832.320.55 ~ 6.m i' I I I I I I , ; 3 "~fI rl :, L, FI - - BIDDERS MmJJ !ul 8& XkllI DEAN WIliER REYNOLDS ClIIaIO 1992 AO EDWARDS A SONS.INC. SL Loull 1993 tw SMITtI BARNEY HARRIS Nelli York 199. '" UPHAM 1995 J 2.285.243.50 PAlNEWEBBER ClIIaIO 1996 1997 1998 ~ 1998 1999 J 823,330.25 ZOO> ~ 6.05m COMMERCE BANK OF KJwlCII)' 1992 , KANSAS CITY 1993 ew Lehman Blothen Omaha 1994 KJrkr.allkk. Peub. Smllh..I; Po~n Omaha 1995 J 2,281,.lliJ9 Puk lnlfllmenll Mlnnupolll 1996 i 1997 ,I I 1998 ~ , ! 1999 , I 2000 S 825,337.16 11 I 'I , ZOOI " ! p ~ II I ) " 6.06861 . \., I ORIFFlN. KUBIK STEPHESS ClI/Q,o 1992 , .It THOMPSON, INC. 1993 ew I 1994 S 2,279,300.00 1995 1996 ~ 1997 I 1998 ~ I I I " 1999 , I I ZOO> S 817,984.38 ! , ZOOI ! I i ~ , I I I 6.0145 ! I i ; I' , : , I ! " IabF/2 ~ ~~(, labF/J '[I =/ L, (I BIDDI!~5 MllwJ Yw ~ YJtlJ HARRIS TRUST '" Si\ VINOS BANK Chlafo 1992 NORWEST INVESTMENT Del ~ olntl 1993 ew: ! SI!R VICES, INC. 1994 Boalmen'l Nallonal Bank 01 SL louis I99S ( ',?R?8SUp SL louis 1996 Mabon, Nu,tnl '" Co, Chla~ 1997 Run Sccur lltl CO/~raIlon Del ~ olntl 1998 ~ Amellan Nallonal ank '" ChlalO 19'19 T/ull Company 01 Chlalo 2lXXl .L..lli.J!L9.0 R.O, Dickinson'" Co. Del Molnu 2001 Sccurillu Corpo/allan 0110\\1 ChlalO "trbtll J, SImJ '" Co., Int. ChlalO ms ~Jm PIPER JAfFRA Y '" HOPWOOD, Minneapolis 1992 INC. 1993 em Ame/lan Nallonal Bank SL Paul 1994 Robell W. Bal/d '" Co., Int. Minneapolis I99S ~O Moorc,Juranand Co.,lne. Minneapolis 1996 1m 1998 ~ \ , 1999 j. i' 2lXXl S 820,397.00 ,I 2001 II \1 ms 'i it i ~ I! . I , ' UNITED MISSOURI8t\NK OF K.l nlas CII)' 1992 . \ KANSAS Cln' 1993 em I FIRST NATIONAL DANK OF IOWA 10\\1 CII)' 1994 S 2,288,500.00 Cln' I99S 1996 1 1997 I 1998 ~ 1999 , . i 2lXXl $ 815,206,25 I 2001 ms 5,994U ~ ~ . .0, [I ,=/, 5 [I BIDDERS ~ Xw 8m ~ NORTHERN TRUST COMPANY CIlia Co 1m 1993 ew 199~ 199' ~5 1996 19'J7 1991 ~ 1999 :001 J 824,076.00 2001 ~ 6.0591 FIRST WISCONSIN N^ TIONAL Mitv.1Ukcc 1992 BANK 1993 . EW 1m 199' J 2.281.989.75 1996 19'J7 I 1998 ~ I 1999 2001 J ~24.922.75 2001 I I I WR I 'l 6,06561 I I' i' il DAlN BOSWORTH '" CO. 1m I II Omaha 1993 em I 1994 II 199' J 2.290.800.00 1996 1997 1 1998 ~ , 1999 2001 ~5 ' ,I 2001 , ~ I I I -1JillL I l I i I i ! , I i' I , t.1bF/~ ~ ~~ I I, I I I ! I I I , ~ \ , I ! " ~ I ! f ! , f r ~ I I , i 1.1bF/5 a [t :/ fj ., BIDDERS MII1w rw 8m ~ EDWARD D.I0NES '" CO. SL louis 1992 1993 ew 199~ 1995 .LZ..lli . 300, Qll 1996 1997 1998 ~ 1999 :001 s 836.768. i5 1001 r:iIR 6.1527 FIRST TENNESSEE BANK. N,A. Memphis 1992 1993 . fW 199~ 1995 J 2,286,200.00 1996 1997 1998 till; 1999 820,193.75 2001 J 2001 r:iIR 6.030836 q ,; 'i " Ii I' \\,1" ; ~ I , \ I ,\ , J I I I I. I I , I I , , 7 ~d.dI, .... --- - - a [I ::/ 5 j:' ~.i EVENSEN DODGE, INC. I''''' \ t. I II' \. I I ''''. PeS! Sales D~le 12.12089 1.12-88 Amounl 52.960 51.260 JUlInl Au A.1~ BBI 7.00 7.83 Bidders '" NIR Harris TlIIlllnd S~linR. D~nk 6.03% Chllel Helder Division 6.27% Flrsl Tennellee D~nk .A. 6.05'11> Harris TrWI '" savtn~I.lne. '6,31<:\ Blun~ Ellis '" Loe~1 6.08% The Northern Trwl o. 6.35<:\ The Northern Trull Comp~ny 6.09'11> The FIrst Nallonal Bank A.O. Ed\l1rdl '" Sonl.lne. 6.13% 01 Ch1calO 6.38\\ HUlChLuon, Shockey. Erley 6.20% CI.l~10n Brown'" AIlac..lne. 6.43<:\ Sm Ih Barney, Harris Upham i- "'Co.lne. 6.4S% I Ollllln, Kubik. Slephens '" i Thomllon.lne. 6.47% Piper, artlay '" Hop~OOIl.lnc; 6.59<:\ DATE: DECEMBER II. 1990 AMOUNT: $2.300,000 RATING: Aaa BBI: 7.061 BIDDERS & NIR: UNITED MISSOURI HARRIS TRUST GRIFFIN. KUBIK OTHERS I ! I I ; I I ! 5.994U 6,0121 6.01451 6.01811 . 6.15271 ! 1((1 (null ^\rnul' ~UlII'll\ Ilt,. MOIllN. IfI~'" \0 l()lJ 111/lftJ.io1lft I~UllIHIIIJ\I i J.~14 \ 'I"l~ ~ l' ji , " I , ; ! t ! f I i i - rr. [I :1 5 :, RlllOv.dl III WYU aluu .... URICI., . (Thil Notico to be pOltod) NOTICE AND CALL OF PUBLIC HEETING Govornmontal BodYI Tho City Council ot Iowa City, Iowa. Dato ot Hootinql DoeoC\btr II, 1990 Timo ot Hootinql 7130 p... Placo ot Hootinql Council Chamborl, civic Contor, 410 E. Walhinqton, Iowa City, Icwa. PUBLIC NOTICE IS HEREBY GIVEN that tho abovo montionod lJovornmontal body will moot at tho dato, timo and placo abovo oot out. Tho tontativo aqonda tor laid mootinq is as tollowsl $2,300,000 Essontial Corporato Purposo Gonoral OblilJation Bonds. - Rosolution diroctinlJ salo. - Rosolution authorizinlJ tho issuanco. such additional mattors as aro sot forth on tho addi- tional 9 palJe(s) attachod horoto. (number) This notice is lJivon at tho diroction of tho Hayor pursuant to Chapter 21, Codo ot Iowa, and the local rulos ot said lJovernmental body. :,j l/hMArJ -II ~A.,.,J City lork, Iowa City, Iowa I IIIUR\rJW~t\ 1.~a[ILr.llllmll_!~rrlll,\LUi[t,rr. a",",,,,,,,,~.w OIIUOfd' ~ ~~ - - ,;; u t 1 '""I, ~-,.-- - ~ /lccrmb~r II , 1990 The Finance Officer of Iowa City, Iowa, mot In tho Council Chamborl, Civic Canter, 410 E. Walhlngton, Iowa City, Iowa, at 12100 o'clock !-.M., on tho abovo date, to opon 10110d bldl received and to refer tho lalo of tho bondl to the boat and mOlt favorable biddor for calh, lubjoct to approval by tho City Council at 71)0 o'clock .1...M. on the abovo data. The following porions woro prosont at laid mooting: finance Director Oon Yuculs: Councl1member Oarrel Courtney; Atty. Ken Haynie; Local representative -Ior fdward n. Jones: Oave Olrls. VP [venson Ood~ City Clerl Hartan Karr , I I I , ~ , ~ ~ ~, I I if ~~ I, I f ( , r < " f f ~l tl , a it ~. I I"~ ~; , 1; -1- IJII.t1" r;'~J:l1'41~11I.l.1I111l\1r. '"""1 IIJ,III.l.I", '''DIltfffhtlU, OUIK.IlIIII"';l',W ;l~lo I ! i I I I I I , I , I , ; , " 11 , it , I I, I' \: d II , I , I I I I I I I I' , , , ! I . j " . i , I I I I i I I i [I =/ 5 5 This boing tho timo and placo for tho oponing of bids for tho salo of $2,300,000 Essontial Corporato Purposo Conoral Obligation Bonds, tho mooting was oponod for tho rocoipt of bids for tho bonds. Soalod bids woro filod and llstod in tho minutos whilo unoponod, as followSI Namo , Addross of Biddorsl ~ ADDRESS Unitod Mlaaourl lIarrh Trult GrUHn, Kubik Daln BOlvorth Clayton Brovn Flrlt Tonnolloo Bk. Pipor Jaffray Doan lIittor Northorn Trult First IIhcondn COllllllOrco Bank Kompor Capital Kktl. Edvard D. Janol Kanl41 Clly Chicago Chicago OmAha Chicago Homphll Hlnnaapolh Chicago Chicago Hil vaukoo Kanlal City Chicago St. Louh Whoroupon tho Financo Officor doclarod tho timo for filing of soalod bids to bo closod. Whoroupon, tho Financo Officor doclarod tho soalod bids bo oponod. Tho soalod bids woro oponod and tho bost soalod bid was as follows: Namo , Addross of Biddorl Unitod Hheouri Bank of Kone41 Cityl Firlt National Bank of lova City Not Intorost Ratol 5.9941% Not Intorost COStl $815,206.25 Whoroupon, all bids woro roforrod to tho Council for action in accordanco with tho Notico of Salo, li il Ii ,- II II I .' , "2" I/II.1'h,',""'tll'4I\1I:II.1:h 1I,IlIU:\\lrTUI,\UIliI..I'I: ""Oflljl''''~'tw oUl.IOIJ.n OM ~ . 'n rl': S u _ I _ b Decelllbor II , 1990 Tho City Counoil of Iowa City, Iowa, mot in rORular 1011ion, In tho Counoil Chambors, Civ!r Contor, 410 E. WaShington, Iowa City, Iowa, at lLHL- o'olock i..H., on tho abovo dato. Thoro woro prosont Hayor Pro trill Ilorol/ltz , in tho chair, and tho following namod Counoil Homborll Ambrhco, Courtnoy, "orOl/itz, Kubby. Larson. Sovlck. Ablont I HcPonnld i , ! ; I I \ I I I I ! { , I ~ i ).' I f I I l' I , i I: I \ t: I ! , f ! f: ji ~. ~ I' I ! , 1 ! i , ....... -3- IIIWI', rmltl, l.mltll.r.II, 1I,Il)lr., ,WITtI' .\LI.IIr.I..I'I, ,nD""I'I"~'w DlI~II.1O'M :~ ! I I ;,1 I j . ! i , I' I I I I I I I I , I I I : , I . [1 [I :/ 5 "--,, , RES. so, 90-226 Larlon introducod tho following ROlolution ontitlod "RESOLUTION DIRECTING SALE OF $2,300,000 ESSENTIAL CORPORATE PURPOSE GENERAL OBLIGATIOII BONDS," and movod ita adoption. ADbrhco locondod tho motion to adopt. Tho roll was callod and tho voto was, AYESI Ambrhco, Courtnay, 1I0rovlu, Lauon. Novick. NAYS I Kubby. ABSENT I McDonald Whoroupon, tho Hayor doclarod tho following Rosolution duly adoptodl RESOLUTION DIRECTING SALE OF $2,300,000 ESSENTIAL CORPORATE PURPOSE GENERAL OBLIGATION BONDS W1IERF~S. pursuant to notico as roquirod by law, bids havo boon rocoivod at public lalo for tho bonds doscribod as tollows and tho bost bid rocoivod is dotorminod to bo tho followingl $2,300,000 ESSENTIAL CORPORATE PURPOSE GENERAL OBLIGATION BONDS I Biddorl Unltad "Inouri Bank Firlt National Bank tho torms of said bid boingl Not Intoraat Ratol 5.9941% of Kanlal Cltyl oC 10\10 City i I Not Intarolt COltl 5815,206,25 NOW, TIIEREFORE, BE IT RESOLVED BY TilE CITY COUNCIL OF TilE CITY OF IOWA CITY, IOWAI Soction 1. That tho bid tor tho bonds ns nbovo sot out is horoby dotorminod to bo tho bost and most favorablo bid rocoivod and, said bonds are horoby awardod basod on said bid. Soction 2. That tho statomont of information for bond biddors and tho form ot contract tor tho salo ot said bonds aro horoby approvod and tho Hayor and Clork aro authorizod to oxocuto -4- 1I1l/,II.' l)'l\nl'~I\lI:II.[JI,II,Il,It[,.'\IITII'"~IIU~I'1: ntOl'~I""'U'" Df.'''OIiU,1O'M J. ~~~ [I :/ 5 FI tho BaMO on bohalt ot tho City. Soction 3. That tho notico ot tho lalo ot tho bondB horoto- toro qivon and all actl ot tho Clork dona in turthoranco ot tho Balo ot Baid bondl aro horoby ratitiod and approvod. PASSED AND APPROVED, th1e 11th day ot Dmlllbor 1990. ATTEST I ; I , i I I i I ! i I I I ~ ~ ! [ I I f t i ~ . . ~ ~ ! f: r f , ! ~ N 11. ,..J.I, .J..IJ ("9't~,,~ ~_ Clork -5.. IIILI:H" m~E\,I' ~I mrH, 11.\\\11:. 'ijlTlI, ILI.IU:t, f": '"~"I""~'it' DC'~"OM I , i I I I I I i 1 I \ i!j . 1 . ,. ,:. ~ " I I , ; , :;. 'J. ~1tJ I I I I I I I I i I , I' , :i. ; ! I ; j i , \\\\~ rl :/ 5 c, RES, SO. 90-22/ Council Hembor Amhr IIco lIIovod that tho torlll ot Tax Exomption CortiC icato bo phcod on t l1e and approvod. Courtney socondod tho lIIotion. Tho roll was called and tho voto was, AYES: Courtnoy, lIorol/ltz. tarlon. Sovlck, Ambrl.co. NAYS: Kubby. ABSESTI McDonald. Council Hombor Ambrllco introducod tho tOllowing Rosolution ontitlod "RESOLUTION AUTIIORIZING AND PROVIDING FOR TilE ISSUANCE OF $2,300,000 GENERAL ODLIGATIOII DONDS AND LEVYING A TAX TO PAY SAID DONDS" and 1II0vod that it bo adoptod. Council Hombor Courtnoy secondod tho lIIotion to adopt, and tho roll boing callod thoroon, tho voto was as tollows: AYES: Courtnev. lIorol/ltz, Lar.on, Novick. Ambr1.co. NAYS: Kubby, ABS~~TI McDonald. Whoroupon, tho Hayor doclarod said Resolution duly adoptod as tollows: RESOLUTION AUTIIORIZING AND PROVIDING FOR TilE ISSUANCE OF $2,300,000 GENERAL ODLIGATION BONDS AND LEVYING A TAX TO PAY SAID BONDS WIIEREAS, tho Issuor is du ly incorporated, organizod and exists undor and by virtue ot tho laws and Constitution ot tho Stato ot Iowal and . WHEREAS, tho Issuor is in noed ot tunds to pay costs ot tho construction, roconstruction and ropairing ot stroot improvomontsl construction, roconstruction, oxtension, improvoment and oquipping ot sanitarr sowors, litt stations, storm Bowers and waterworks mainsl oqu pping ot polico and tiro dopartmonts and improvomonts to oXisting City parks, an osoontial corporato purposo, and it io doomod nocossary and advisablo that Gonoral Obligation Donds in tho amount ot $2,300,000 bo issuod tor said purpooOI and WIIEREAS, pursuant to notice pUblishod as roquirod br Soction 384.25 ot said cOdo, thio Council has hold a public moot ng and hoaring upon the proposal to institute procoodings tor tho -6- 1I11.!H,\I)"'t:Il'lIIlt1I.1:H 1I1"ll 'llnIlIIlJ./IIll'f, '"QIl~I'U'~"'" bll"'o-tU CM" ~7 o [I :::, b n , u 1l:1~1ft.""'" - .... ~~-"."_I'-' --- "" , \ \\1 ~ , [1 [I :/ b -" RES. so. 90-227 CouncU Hambar AlIlbrhco movad that the Corm at Tax Exemption CortH icato bo placod on r 110 and approvod. Courtnoy socondod the motion. Tho roll waD callod and tho voto waD, AYESI Courtnoy, 1I0rovltl, I.ar.on, Novick. AQbrl.co. NAYSI Kubby. ABSENT I McDonald. Council Hombor A'Ilbrl.co introducod the rOllowing Rosolution ontitlod "RESOLUTION AUTIIORIZIHG AND PROVIDING FOR TilE ISSUANCE OF $2,300,000 GENERAL OBLIGATION DONDS AlID LEVYING A TAX TO PAY SAID BONDS" and movod that it be adoptod, Counoil Homber Courtnoy socondod tho motion to adopt, and tho roll boing callod thoroon, tho vote was as tollowsl AYESI Courtnoy. lIorol/ltl. 1.4r1on, Novick, Ambrl.co. I NAYSI Kubby. ABS~~TI McDonald, L " " i! <I II I II Whoroupon, tho Hayor deolarod said Rosolution duly adopted as tollowsl RESOLUTION AUTIIORIZING AND PROVIDING FOR TilE ISSUANCE OF $2,300,000 GENERAL OBLIGATION BONDS AND LEVYING A TAX TO PAY SAID BONDS WHEREAS, tho Issuor is duly incorporatod, organizod and oxists undor and by virtuo ot tho laws and Constitution at the State ot Iowal and . WHEREAS, the Issuor is in need or tunds to pay costs ot tho construotion, reconstruction and repairing ot stroot improvements I oonstruotion, reconstruction, extension, improvemont and equipping ot sanitary sewers, lirt stations, storm Bewers and waterworks mainsl equipping or police and tire dopartmonts and improvements to existing City parkB, an essontial corporate purpose, and it is deemed necesBary and advisable that General Obligation Bonds in the amount ot $2,300,000 bo issuod tor said purpose I and WIIEREAS, pursuant to notico publishod as required by section 384.25 ot said Code, this Council has held a publio mooting and hearing upon tho proposal to instituts proceedings tor the , I , -6- 1111.111' "ull:I "41I1t:11.l:11 1I\l\11: .~mll IU,/II11'I, "'OA"I'''''~'''' C"'Ir,I~U lOttA ~7 rl :, b j:' ioouanco at laid Dondo, and tho Council il thoro taro now authorizod to procood with tho illuanco at laid Dando/ and IIIIEREAS, purouant to tho proviliono at Chaptor 75 at tho Codo at Iowa, tho abovo montionod bondD woro horototoro lold at public Dolo and action Dhould now bo takon to iDIUO Baid bondD contorming to tho tormB and conditionB ot tho bOBt bid rocoivod at tho advortilod public Dalol NOW, TIIEREFORE, DE IT RESOLVED DY TilE COUI/CIL OF TilE CITY OF IOWA CITY, IOWAI Soction 1. OotlnltionD. Tho tollowing torml Dhall havo tho tOllowing moaningD in thiD RODolution unloDD tho toxt oxprosDly or by nocoDoary implication roquiroo othorwiool (a) "Donotlci41 Ownor" ohall moan, whonovor usod with rospoct to a Dond, tho porIon in whoso nama luch Dond is rocordod 00 tho bonoticial ownor ot Buch Dond by a Participant on tho rocords ot such Pnrtlcipant or such porson'l oubrogoo/ (b) , "Donds" shall moan $2,300,000 Conoral ObUgatlon Donds, authorizod to bo issuod by this Rosolution/ (c) "Codo' Co." shall moan Codo , Co., tho nominoo ot OTC, and any BUCcosoor nominoo at orc with rospoct to tho Donds/ (d) "Issuor" and "City" shllll moan tho City ot Iowa City, Iowa/ (0) "Notico ot Solo" shall moan tho otticial Notico ot Solo DB pubUshod on Decel1lber 3 , 1990/ (t) "Participants" shall moan thooo brokor-doalors, banks and othor tinancial institutions tor which DTC holds Dondo as socuritios dopository/ (g) "Paying Agont" shall bo tho City Controllor, or such succossor as may bo approvod by Issuor 00 providod horoin and who shall carry out tho dutios proscribod horoin as Issuor's agont to provido tor tho paymont ot principal ot and intorost on tho Bonds as tho Dame shall bocomo duo/ (h) "Projoct Fund" shall moan tho tund roquirod to bo ootablishod by this Rosolution tor tho doposit at tho pro- coods at tho Bondo/ (i) "Robato Fund" oholl moan tho tund 00 dotinod in and ootabliohod pursuant to tho Tax Exomption Cortiticato/ I. i 'I' I . II: I I I i -7- IIII.O'''''",ll'jllll,II,f:lIl1l1ll', '~III1'\lJ.Ilf:t.I'1 ""o-~I'U'~"'" o..~u <M.. ';tP.P.? [I ,:/ b ::, (j) "RoprooontAtion Lottor" ohAll 1II0an tho RoproDontAtion Lottor frolll tho City And tho PAying Agont and RogiDtrar to OTC, with rODpoct to tho Dando; (k) "Rogiotrar" DhAll bo City Controllor of IOWA City, IOWA, or Duch SUCCODDor AD IIIAY bo approvod by IDDuor aD providod horoin and who ohall cArry out tho dutioD proocribod horoin with rospoct to IIIAintAining A rogiDtor of tho ownorD of tho bondD. UnloDD othorwiso spocifiod, tho RogistrAr ohall Aloo ACt AO TrAnofor Agont for tho bonds; (1) "TAX Exomption Cortificato" ShAll moon tho TAX Exomption CortificAto oxocutod by tho Troasuror And dolivorod At tho timo of ioouAnco And dolivory of tho Dando; And (m) "Troaouror" ohAll mOAn tho City TroAouror or ouch othor officor AS ohAll ouccood to tho DAmo dutioD And rooponsibilitioD with roopoct to tho rocording and paymont of tho Dando iosuod horoundor, Sootion 2. l.ow IInd Cortlriclltion of AnnulIl "IIXI Othor Fundg to bo Uood. (a) Low of AnnUli 1 Tft~. That for tho purposo of providing funds to pay tho prinoipal and intoroot of tho Dando horoinaftor authorizod to bo issuod, thoro io horoby loviod for oaoh futuro yoar tho following diroct annual tax on all of tho taxablo proporty in Iowa City, Iowa, to-witl FISCAL YEAR (JULY 1 TO JUNE 30) YEAR OF COI,LECTIONI $449,669 $369,612 $330,863 $318,262 $305,438 $292,613 $279,450 $266,175 $252,675 $238,950 1991/1992 1992/1993 1993/1994 1994/1995 1995/1996 1996/1997 1997/1998 1998/1999 1999/2000 2000/2001 , I ',; I ' I I I I AMOUNT (NOTEI For oxamplo tho lovy to bo mado and oortifiod against tho taxablo valuations of January 1, 1990, will bo collootod during tho fisoal yoar commoncing July 1, 1991). (b) RODolution to bo Filod With Countv AUditor. A cortifiod copy of this Rosolution should bo filod with tho County AUditor of Johnson County, Iowa, and said AUditor is horoby instruotod in and for oach of tho yoars DB provided, to levy and DSBODS tho tDX horoby authorizod in Soot ion 2 of -8- 1II1,':II'm~1:\ ".'lllIL!III1'I'I! "~ITII'".I.III'LI'f: "'0II~1''''~.1lw OIlI.IOIttn lO'IW ;'~7 , . rl ,,' ~ b .LI this Resolution, in like manner a8 other taxes are levied and assessed, and such taxes so levlod in and for each of the years aforesaid be collocted in like manner as other taxes of the City are collected, and when collocted be used fer the purpose of paying principal and Interest on said Bonds ilsusd In anticipation of said tax, and for no other purpooo whatooever. (c) Additional Cltv Funds Available. Principal and intorost coming duo at any timo whon tho proceeds of laid tax on hand shall bo insufficiont to pay tho samo shall bo promptly paid whon due from curront funds of tho City availablo for that purposo and roimbursomont shall bo mado from such spacial fund in tho amounts thus advancod. Soction 3. Bond FUnd. Said tax shall bo colloctod oach yoar at tho samo timo and in tho samo manner as/ and in addition tOr all othor taxos in and for the City, and whon collectod thoy shall bo convortod into a spocial fund within tho Dobt Sorvico Fund to bo known as the "GENERAL OBLIGATIO!I BOND FUND 1990 NO, 1" (tho "Bond Fund") / which is horoby pledgod for and shall bo usod only for tho paymont of tho principal of and interost on tho Bonds heroinafter authorizod to bs issued I and also thsro shall be apportioned to said fund its proportion of taxos rocotvod by tho City from railway, oxpross/ tolophono and tolegraph companies and other taxos assossod by tho Iowa State Dopartmont of Rovonue. Soction 4. ADDlica~ion of Bond Procoedq. Procoods of tho Bonds other than accrued intorost oxcept as may bo provided bolow shall bo creditod to tho Projoct Fund and oxponded therofrom for tho purposos of issuanco. Any amounts on hand in tho Project Fund shall bo available for tho paymont of tho principal of or intorest on tho Bonds at any timo that othor funds shall bo insufficiont to tho purposo/ in which evont such funds shall bo ropaid to tho Projoct Fund at tho oarliost opportunity. Any balanco on hand in tho Projoct Fund and not immodiatoly requirod for its purposos may bo invostod not inconsistent with limitations provided by law or this Rosolution. Accruod intorost, if any/ shall bo doposited in tho Bond Fund. Section 5. Invostmonts of Bond Fund Procoedi. All moneys held in tho Bond Fund, providod for by Soction 3 of this Resolution shall bo invostod in direct obligations of the United Statos Govornment or dopositod in financial institutiono which aro membors of tho Federal Deposit Insuranco Corporation or tho Fedora 1 Savings and Loan Insurance Corporation and tho dopooits in which aro insurod thereby and all such doposits oxcoeding the maximum amount insurod from timo to time by FDIC or FSLIC or its equivalent succossor in anyone financial institution shall be continuously secured by a valid plodge of diroct obligations of tho Unitod States Government having an equivalent market value, All such intorim invostmonts shall maturo bofore tho dato on which -9- 1111./:11> mllt:l "lla/:ll./,II 11\1111: "lnll. II,I.HlII" ."0Il"'"",~,,, ct'I,lOlJj.1 (M. ).P.fJ.7 rl .:/ b C, tho monoyo aro roqulrod tor paymont ot principal at or intoroot on tho Dando ao horoln provldod. Boctlon 6. nand Dotallo. Exocutlon and ROdomntiQD. (a) nand DotAila. Conoral Obligation Dando ot tho City in tho amount ot $2,300,000, ohall bo loouod purouant to tho provisiono ot Boction 384.25 at tho City Codo ot Iowa tor tho IItorosaid purposo. Tho Dando ohllll bo dooignatod "GE/lERAL ODLIGATIO/l DOIIO", bo dlltod Docombor 1, 1990, and bOllr intoroot tram tho dato thoroot, until pllymont thoreot, lit the ottlce ot the Paying Agont, sllld Interost payable on June 1, 1991, IInd semlannulllly thoreattor on the 1st day ot Decombor IInd June In oach yoar until maturity at tho ratos horelnatter providod. The Bonds shall bo oxocutod by tho manual oignature of tho Hayor and attootod by tho manual olgnature ot tho Clork, and Improoood with tho ooal ot the City and ohall bo tully roglstorod as to both principal and interest ao provldod in this Reoolution; principal, interoot IInd promlum, It any, ohall bo payablo at tho oftlco ot tho Paying Agont by mailing ot a chock to tho rogiotorod ownor ot tho Dond. Tho Bonds ohall be in tho donomination ot $5,000 or multiploo theroot. Tho Donds ohall mature and bear interest as Collows: Intorest Principal Haturity Rato Amount Juno lot 5.40\ $250,000 1992 5.50\ 250,000 1993 5.60\ 225,000 1994 5.70\ 225,000 1995 5.70\ 225,000 1996 5.85\ 225,000 1997 5.90\ 225,000 1998 6.00\ 225,000 1999 6.10\ 225,000 2000 6.20\ 225,000 2001 (b) RodomDt.~. Donds maturing atter Juno 1, 1998, may be callod tor rodomption by the Issuor and paid boforo maturity on snid date or any intoreot payment date thereafter, from any funds regardless of source, in whole or from time to time in part, In any order of maturity and within an annual maturity br lot by giving thirty days' notice of rod emption by reg stered mail, to the registered owner of tho Dond. The terms of redemption shall be par, plus accrued interest to date of call. If solection by lot within a maturity is roquirod, tho Rogistrar shall by random soloction oC tho nomos ot tho -10- III1,W, '''M:l. l'IIlIUI.tlI 1I11llL '1IlTIIIILLII[[,I'1: '"OA~(,U'~"IV OCU.lQofdt eM" ;1.~~7 , [I .~ b h : rogJotorod ownors ot tho ontiro annual maturity soloct tho bonds to bo rodoomod until tho total amount ot Bonds to bo callod hao boon roachod. Soction 7. Roqistration ot Bon~:~ AD~~~n~:~~: ~f Roalstrarl Transtorl OwnorshiDI Doil___vl ___ _____I_atlQD. (a) Roaistratlon. Tho ownorohlp ot Bonds may bo transtorrod only by tho making ot an ontry upon tho books kopt tor tho rogistratlon and tranotor ot ownorshlp ot tho Bonds, and in no othor way. Tho City Control lor is horoby appointod aD Bond Rogistrar undor tho torms ot thio Rosolution. Roglstrar ohall maintain tho books ot tho Issuor tor tho rogistration of ownorship ot tho Bonds for tho paymont of principal of and intorost on tho Donds as providod in this Rooolution. All Bonds shall bo nogotiablo ao providod in Articlo 8 of tho Uniform Commorcial Codo and Soction 384.31 ot tho Codo ot Iowa, subjoct to tho provisions tor rogiotration and transfor containod in tho Bonds and in thio rooolution. (b) Transfo~. Tho ownorship of any Dond may bo transforrod only upon tho Rogistration Dooks kopt for tho rogistration and transfor of Donds and only upon surrondor thoroof at tho offico of tho Rogistrar togothor with an assignmont duly oxocutod by tho holdor or hio duly authorizod attornoy in fact in such form os shall bo satisfactory to tho Roglstrar, along with tho addroos and social socurlty numbor or fodoral omployor idontification numbor of such transforoo (or, if rogistration is to bo mado in tho namo of multiplo individuals, of all such transforooo), In tho ovont that tho addross of tho rogiotorod ownor of a Dond (othor than a rogistorod ownor which Is tho nominee of tho brokor or doalor in quostlon) Is that of a brokor or doalor, thoro must bo disclosod on tho Rogistration Dooks tho information portainlng to tho roglstorod ownor roquirod abovo, Upon tho trans for of any such Bond, a now fully rogiotorod Bond, ot any donomination or donominations pormlttod by this Rosolution in aggrogato principal amount oqual to tho unmaturod and unrodoomod principal amount ot such transtorrod fully rogistorod Dond, and boarlng intorost at tho lama rato and maturing on tho samo dato or datos sholl bo dolivorod by tho Rogistrar, (c) Roaistration of Transtorrod Bonds, In all casos ot tho transtor ot tho Donds, tho Rogistrar sholl rogistor, at tho oarliost practicablo timo, on tho Rogistration Dooks, tho Bonds, in accordanco with tho provisions ot this Rosolution. (d) Ownorshtn. As to any Dond, tho porson in whoso namo tho ownorship ot tho samo shall bo registered on the Rogistration Books ot tho Rogistrar shall bo doomod and -11- IIII.I,H' '''~tll'~\lt'lWlIII''II, ,lmIlIIlJ.III,ll'l, A"Oll"I''''~A'' DlU,IOIt" 0.... ~:2:1.? rl ::1. I b ,.~, - rogardod a. tho absoluto ownor thoroof for all purpoooR, and paymont of or on account of tho principal of any .uch Bondo and tho promlum, If any, and Intoroot thoroon .hall bo made only to or upon tho ordor of tho rogl8torod ownor thoroof or hl8 logal ropro8ontatlvo. All 8uch paymonta 8hall bo valid and offoctual to satlafy and dlacharqo tho liability upon ouch Bond, Includinq tho intorost thoroon, to tho oxtont of tho aum or sums 00 paid. (0) CancollatloD, All Bondo which havo boon rodoomod ahall not bo rolaauod but shall bo cancollod by tho Roqlatrar. All Bonda which aro cancollod by tho Roqlstrar ahall bo doatroyod and a cortlflcato of tho destruction thoroof ahall bo furnlshod promptly to tho Issuor/ provldod that If tho Iaauor ahall .0 dlroct, tho Roqlatrar shall forward tho cancollod Bonds to tho Ia.uor. (f) Hon-Prosontmont of Bonds. In tho ovont any paymont chock roprooontlnq paymont of principal of or Intorost on tho Bonda Is roturnod to tho Paying Agont or if any bond is not prosontod for paymont of principal at tho maturity or rodomption dato, if funds aufficiont to pay such prinCipal of or intoroot on Bonds ahall havo boon mado availablo to tho Paying Agont for tho bonofit of tho ownor thoroof, all liability of tho Isauor to tho ownor thoroof for such intorost or paymont of such Bonds shall forthwith coaso, torminato and bo complotoly di.chargod, and thoroupon it shall bo tho duty of tho Paying Agont to hold such funds, without liability for intorost thoroon, for tho bonofit of tho ownor of such Bonda who shall thoroaftor bo rostrictod oxclusivoly to such funda for any claim of whatovor naturo on his part undor this Rosolution or on, or with rospoct to, such intorost or Bonds. Tho Paying Agont's obligation to hold such funds shall continuo for a poriod oqual to two yoars and six months fOllowing tho dato on which such intorost or principal bocamo duo, whothor at maturity, or at tho dato fixod for rOdomption thoroof, or othorwiso, at which timo tho Paying Agont, shall surrondor any romaining funds so hold to tho Issuor, whoreupon any claim undor this Rosolution by the Ownors of such into rest or Donds of whatover naturo shall be mado upon the Issuor. (g) Roglstrutlon and Transfor Feos. Tho Rogistrar may furnish to oach ownor, at the Issuor's oxponso, one bond for oach annual maturity. The Regiatrar shall furnish additional bonds in lossor donominations (but not loss than the minimum donomination) to an ownor who so roquests. Soction 7.1. OTC. ReqistratiQn. All of tho Bondo shall be rogistored in tho namo of Code & Co., as nominoe for OTC. Payment of semiannual Interost for any Bond rogistered in the name of Cedo & Co, shall be made by wiro trans for or Now York Cloaring Houoe or " -12- IIIUII""'\I:I l'lmUU:IIIII1\II, '"~III'I.I.11111" '''D'l'tt''''~''" DI",'()II.U~ J~~7 fl ,3 b 8 . - oquivalont noxt day funds to tho account ot Codo , Co, on tho intorost paymont jato tor tho Bonds at tho addross indicatod in or pursuant to tho Ropresentation Lottor. Soction 7.2. Tho Bonds shall bo initially i8suod in tho form ot separate single authenticatod fully registored bonds in tho amount ot each separato stated maturity of tho Bonds, Upon initial issuance, the ownership of such Bonds shall bo rogistorod in the rogistry books of tho City Control lor kopt by tho Paying Agont and Rogistrar in tho namo of Codo , Co., as nominal of OTC. Tho Paying Agont and Rogistrar and tho City may troat DTC (or its nominoe) as the solo and oxclusivo owner of tho Bonds rogistored in its namo tor tho purposos of paymont of tho principal or rodomption price of or intorost on tho Bonds, sOlocting tho Bonds or portions thoroof to bo rodoomod, giving any notico pormittod or roquired to bo givon to registored owners of Bonds undor the Rosolution of tho City, registoring tho transfor of Bonds, Obtaining any consont or othor action to bo takon by rogisterod ownors of the Bonds and for all other purposos whatsoover; and neithor tho Paying Agont and Rogistrar nor tho City shall bo affocted by any notico to tho contrary, Noither the Paying Agont and Rogistrar nor tho City shall have any rosponsibility or obligation to any Participant, any person claiming a benoficial ownorship intorest in tho Bonds under or through OTC or any Partioipant, or any othor porson which is not shown on tho registration books of tho Paying Agent and Rogistrar as boing a registored ownor of any Bonds, with respoct to tho accuracy of any rocords maintained by OTC or sny Participant; with respect to tho paymont by DTC or any Participant of any amount in respect of the principal or redemption price of or intorost on tho Bonds, with respoct to any notice which is permitted or requirod to bo givon to owners of Bonds undor tho Rosolution, with respoct to the seloction by OTC or any Participant of anr porson to recoive payment in tho event of a partial redompt on of the Bonds, or with respoct to any consent givon or othor action taken by OTC as registored ownor of tho Bonds. The Paying Agont and Registrar shall pay all principal of and premium, if any, and interost on the Bonds only to Cede' Co. in accordanco with tho Reprosontation Lettor, and all such paymonts shall bo valid and effectivo to fully satisfy and dischargo the City's obligations with respect to the principal of and promium, if any, and intorest on the Bonds to the extent of the sum or sums so paid. No porson othor than OTC shall receive an authonticated Bond for oach soparate statod maturity evidencing the obligation of tho City to mako parments of principal of and premium, if anr' and intorost. Upon dol vory by OTC to the Paying Agont and Reg strar of written notico to the offoct that OTC has dotorminod to substitute a now nomineo in placo ot Codo & Co., tho Bonds will bo transforablo to such now nominoo in accordanco with Soction 7.7 horoo!. Section 7.3. In the ovont tho City dotorminos that it is in the bost intorost of tho Bonoficial Ownors that thoy bo able to -13- \lIIJII' U_I.\I.\ 1.~II\t:IU'11I 11\11 \\lnu.. \1.I.lllf. 1'1 ..nOflIrt.".'I"'" 01 I Vo.'4 , 'No" ~":J7 o . [I ,:/ b ~ .c,' . obtain Bond cortificatos, tho City may notify orc and tho Paying Agont and Rogistrar, whoroupon OTC will notify tho Participants, ot tho availability through orc of Bond cortificatos. In such avont, tho Bonds will bo transforablo in accordanco with Soction 7.7 horoof. OTC may dotormino to discontinuo prOViding its sorvicos with rospoct to tho Bonds at any timo by giving notico to tho City and tho Paying Agont and Rogistrar and discharging its rosponsibilitios with rospect thoroto undor applicablo law. In such evont the Bonds will bo transferablo in accordance with Soction 7.7 horoof, Soction 7.4. Notwithstanding any other provision of tho Rosolution to tho contrary, so long ao any Bond is registored in tho namo of Codo , Co" as nominoo of orc, all paymonts with rospoct to tho principal of and premium, if any, and intorost on such Bond and all noticos with rospect to such Bond Dhall bo made and givon, rODpoctivoly to OTC aD providod in tho RoproDontation lotter. Soction 7.5. In connoction with any notice or othor communication to bo providod to Bondholdors by tho City or tho Paying Agont and Registrar with rospect to any conDont or othor action to bo takon by Bondholdors, tho City or tho Paying Agont and Rogistrar, as tho caso may bo, ohall ostablish a rocord dato for such consont or othor action and givo DTC notico of such rocord dato not loss than 15 calondar darS in advanco of such rocord dato to tho oxtent possiblo. Not co to OTC shall bo given only whon OTC is tho solo Bondholder. Soction 7.6. Tho oxecution and dolivery of tho Roprosentation Lottor to OTC by tho Mayor, and City Controllor, in tho form prosonted at this moeting with such changoo, omissions, insertions and revisions as tho Mayor shall doom advisablo is heroby authorizod and oxocution of tho Roprosontation Lottor by tho Mayor and City Controllor, sholl be conclusivo ovidonco of such approval. Tho Reprosontation Lettor shall set forth cortain mattors with rospect to, among othor things, notices, consonts and approvals by Bondholdoro and paymonts on tho Bonds. Tho Paying Agont and Rogistrar is horoby authorizod and requosted to exocuto tho same and shall havo tho samo rights with rospoct to its actions thoreundor os it has with rospoct to its GctionD undor tho Rosolution. SDction 7.7. In tho ovont that any transfor or oxchango of tho Bonds is pormittod undor Section 7.2 or 7,3 horoof, such trans for or exchango shall bo accomplishod upon rocoipt by tho Rogistrar from tho rogistored ownors thoroof of tho Bonds to bo transferrod or oxchangod and appropriato instrumonts of transfer to tho pormittod transforoo. In tho evont Bond cortificatos aro issuod to holdors othor than Codo & Co., its DUCCOSDor as nominee for OTC as hold or of all tho Bonds, or othor socuritios dopository as holdor of all tho Bonds, tho provisions of tho Rosolution shall -14" 1I11.1:II""^t:\ 1'~,"lII.t:11 1111111: '"IT1IlII.l,IU I' ..nOlltl"A'IAiII' I.II....O'-'u o.u ~~7 tJ [I ,=,. "-1 r, - Also Apply to, Among othor thingD, tho printing of Duch cortificAtos And tho mothod of pAymont of principal of and intoroDt on Duch cortificAtoD. Soction 7.8. Tho officorD of tho City arD horoby Authorizod And diroctod to propAro and furnish to lAid purchADor, And to tho AttornoYD Approving tho logAlity of sAid ConorAI ObligAtion Bonds, cortifiod copios of such procoodings, ordinAncoD, rODolutions And rocords And All luch cDrtificAtos And AffidAvitD And othor instrumontD AD mAY bo roquirod to ovidonco tho 10gAlity And mArkotability of sAid bonds, And All cortifiod copios, cortificAtoD, AffidAvits And othor instrumonts DO furnishod, including Any horotoforo furnishod, shAll constituto roproDontAtions of tho City as to tho corroctnocs of All fActD DtAtod or rocitod thoro in. Soction 8. Roissuanco of Mutllatod. Dootrovod. Stolon or Loot Bonds. In CAOO Any outDtAnding Bond Dhall bocomo mutilAtod or bo dODtroyod, stolon or lODt, tho IODuor Dhall At tho roquost of RogiDtrAr AuthonticAto And dolivor A now Bond of liko tonor And amount AD tho Bond DO mutiIAto~. dODtroyod, Dtolon or loot, in oxchAngo and uubDtitution for DUt,1 mutilAtod Bond to RogistrAr, upon surrondor of such mutilAtod Bond, or in liou of And substitution tor tho Bond dostroyod, stolon or lost, upon tiling with tho RogistrAr ovidonco DatiDfActory to tho RogiDtrar and Issuor that such Bond has boon dostroyod, stolon or lost and proof of ownorship thoroof, and upon furniShing tho Rogistrar and Issuor with DatiDfactory indomnity and complying with such othor roaDonablo rogulations as tho Issuor or its agont may proscribo and paying such oxponDoD aD tho ISDuor may incur in connoction thorowith. Soction 9. Rocord Onto, PAymontD of principal and intorost, othorwiso than upon full rodomption, mado in rospoct of any Bond, shall bo mado to tho rogistorod holdor thoroot or to thoir dosignatod agont as tho samo appoar on tho books of tho Rogistrar on tho 15th day of tho month procoding tho paymont dato. All such paymonts shall fully dischargo tho obligAtions of tho Issuor in rospoct of such Bonds to tho oxtont of tho paymonts so mado. Paymont of prinoipal shall only bo mado upon Rurrondor ot tho Bond to tho Paying Agont. Soction 10. Exooutlon. Authonticntion nnd Dolivorv of tho ~. Upon tho adoption of this Rosolution, tho Hayor and Clork shall oxocuto and dolivor tho Bonds to tho Rogistrar, who shall authontioato tho Bonds and dolivor tho samo to or upon ordor of tho PurchaDor. No Bond shall bo valid or obligatory tor any purposo or shall bo ontitlod to any right or bonofit horoundor unloss tho Rogistrar shall duly ondorso and oxocuto on suoh Bond a Cortificato of Authontication substantially in tho form of tho Cortificato horoin sot forth. Such Cortificato upon any Bond oxooutod on bohalf of tho IDsuor shall bo conclusivo ovidonco that -15- UlItH\ IlU'IlI.~I\\t:IIJ.IIIl\l\II. \\HTIIa \1J.ltlt: I" ""Ol1I;I'I"'I.if OIIa.lOllll101Y J.~ r;. 7 a [I ::1' .,-,. ., ~ tho Bond 80 authonticated has beon duly il8uod undor thi8 Relolution and that tho holder thoroof ia entitlod to tho benefits ot this R0801ution. Soction 11. aight to Nama Substltuta PDvina Aaent or Roaistrar. Issuer resorves tho ri9ht to name a 8ubstituto, successor R09iatrar or Payinq A90nt upon 11.in9 prompt writton notico to oach r09iaterod bondholder. I I I' 1 ! I i ~ ~ ! ~ , ~ .:,. I ! ~ ;1 , ; i , ~ ~ ~ r , " ! I I I I I i , -16- 1111,[11' m ~lll'"~ [11.1:111111 lit '~",IIIIJ.",:'.I'1 A"o-""Uh""" ont,lQf;l, ~ ;'~"7 ; i ! I 'j , I I 11 I I 'I I !I I I I d , , I I " i \1 1 II i I i I I tJ [f. :/ .,-, ;:, Boction 12. Form ot Dond. Donds shall bo printod in substantial compllanco w1th standards proposod by tho Amor1can Btandardo Inst1tuto substantially 1n tho torm as tollowsl I 1IIIIIIIIIIIIIIIflllllllllllllllllllllllllllllllllllllII I I I I I I (6) (6) I I I I I I (7) (8) I I I I I I I I (1) I I I I I I I ~~~~~~ I I I I I I I (9) I I I I I I I I (9a) I I I I I I I I (10) I I (cont1nued on the back or th1s Dond) I I I I~ ~(14) I III (11) (12) (13) I~I (15) f I I I 1IIIIIIIIIIIIIIIIIfllllllfllllllllllllllfllfllllllllll11111 I , I I I FIGURE 1 (Front) -17- IIII.tll' '''M;l l.mll,II.t:lI.IIIl\II: ,uml,'LI.IU:t "[ '"D'l~I'I''~''''' DCI...OoJtU 1O'Il\I' ~~7 - ,,1 [I =, "-1 =, (10) (Continuod) (lG) (17) i I' I 1 1 : ! I I I I FIGURE 2 ! (BliCk) I I I I I I \ I I , i 1 I , i , -18- III1.EII'/:lkM:\.IklIllElI.t.H 1I1l~1I:,\lIrnl. 11.I./llI.l'C "'Ollltln..'~.."" Of....OItI.1CW.4 J;).~? tJ [I :1 "-/LI I Tho toxt of tho Bonds to bo locatod thoroon at tho itom numbors sho~n ahall bo aa follo~SI I tom 1, figuro 1 .. · .STATE OF IOWA" "COUNTY OF JOIINSON" "CITY OF IOWA CITY" "GENERAL OBLIGATION BOND" "ESSENTIAL CORPORATE PURPOSE" Itom 2, figuro 1 . Ratol Itom 3, figuro 1 · HaturitYI Itom 4, figuro 1 . Bond Datol Oocombor 1, 1990 Itom 5, figuro 1 · CUsip , Itom 6, figuro 1 · "Rogistorod" Itom 7, figuro 1 · Cortificato No. _____ Itom 8, figuro 1 · Principal Amountl $ Itom 9, f iguro 1 · Tho City of Io~a City, Io~a, a municipal corporation organizod and oxisting undor and by virtuo of tho Constitution and laws of tho Stato of Iowa (tho "Isouor"), for valuo rocoivod, promioos to pay from tho sourco and aD horoinaftor providod, on tho maturity dato indicatod abovo, to Itom 9A, figuro 1 · (Rogistration panel to bo complotod by Rogiotr.ar or printor with namo of Rogistorod Owner). Itom 10, figuro 1 · or rogistorod assigns, tho principal sum of lnIlnclDal amount wrltton out) Thousand Dollars in lawful monoy of tho Unitod Statos of Amorica, on tho maturity dato shown abovo, only upon prosontation and surronder horoof at tho offico of tho City Controllor, Paying Agont of this issuo, or its succossor, with intorost on said sum from tho dato horoof until paid at tho rato por annum spocifiod abovo, payablo on Juno 1, 1991, and somiannually thoroaftor on tho 1st day of Docombor and Juno in oach yoar. Intorost and principal shall bo paid to tho registorod holder of tho Bond as shown on tho rocords of ownorship maintainod by tho Rogistrar as of tho 15th day of tho month noxt procoding such intorost paymont dato. Interost shall bo computed on tho basis of a 360-day yoar of twolve 30-day months. This Bond is issuod pursuant to tho provisions of Soction 384.25 of tho City Codo of Iowa, for tho purposo of paying costs of tho construction, roconstruction and ropairing of stroot improvomontsl construction, roconstruction, oxtonsion, improvomont and oquipping of sanitary sowors, lift stations, storm sowors and watorworks mains I oquipping of pOlico and firo dopartmonts and improvomonts to oxisting City parks, in conformity to a Rosolution of tho Council of said City duly passod and approvod. -19" 11l1.1:"\"'~nl"'"t:Il.1:III1\\\", '1IITlIIll,LIII,/,I" ."011101'"'1''''' Df....QItoIl ()oM ~~7 o [I .:/ :,-, C, Bonds maturing aftor Juno 1, 1998, may bo callod for rodomption by tho Issuor and paid boforo maturity on oaid dato or any intorost paymont dato thoroaftor, from any funds rogardlooo of oourco, In whole or from timo to timo in part, in anr ordor of maturity and within an annual maturitr by lot by giv ng thirty days' notico of rodomption to tho rog otorod ownor of tho Bond. Tha tarms of radomption shall ba par, plus accruad intarast to data of ca 11. Notica haroundar may ba givan by rogiotared mail to tha owner of rocord of tho Bond at tho addroos shown on tha books of tha Rogistrar and shall bo doomod comp1eto upon mailing, ownorship of this Bond may bo transferred only by transfer upon tho booko kept for ouch purposo by tho City Controllor, tho Registrar. Such tranofar on tha booko shall occur only upon preoantation and surrendor of this Bond at tho offico of tho Rogistrar, togother with an aosignmont duly executod by tho ownar horeof or his duly authorizod attornoy in the form ao ohall ba oatisfactory to tha Rogistrar. Issuor rosarvas tha right to oubstituto tha Rogistrar and Paying Agent but ohall, howover, promptly giva notica to regiotarod bondholdors of such chango. All bonds ohall bo negotiabla as providod in Articla 8 of tho Uniform Commarcial Codo and soction 384.31 of tha Coda of Iowa, oubject to tha provioions for ragistration and transfer containod in tho Bond Rasolution. Thio Bond 1a a "qullli fled tllx-oxempt Obligation" designllted by tho City for purposes of Soction 265(b)(3)(B) of tha Intarnal Rovonuo Code of 1986. And it is horaby rapresonted and cortified that 1111 IIctS, conditions "nd things requisita, IIccording to tha lllwo IInd Constitution of tha Stata of Iowa, to exist, to bo hlld, to bo dona, or to ba porformed precedont to tho lllwful issue of this Bond, hllvo boan axistant, hlld, dona IInd performod as required by lllWI thllt provision hils bean mado for tho lovy of a sufficiant continuing IInnuIIl tax on all tha tllxllblo proparty within tho torritory of tho Issuor for tho paymont of tho principal IInd intorest of this Bond as tho same will respoctivoly bocomo dUOI thllt tho faith, credit, rovenuos IInd resourcos IInd 1111 tho relll IInd porsonlll proporty of tho Issuer IIro irrevocllbly pledgod for tha prompt pllymont horaof, both principal and intarostl IInd tho totlll indobtodnoss of tho Issuor including this Bond, doas not axcaad the constitutional or statutory limitations. IN TESTIMONY WIIEREOF, the Issuer by its council, hilS cnusod this Bond to be signed by the manuIIl signlltura of its Mllyor and attastad by tha manual signatura of its City Clerk, with the ooal of said City imprassed hereon, and to bo authanticated by the manuIIl signlltura of IIn lIuthorized represontativo of tho Rogistrllr, tho City Controllor, IowlI City, IowII. -20- " IIILI:".Ilo~L\ 1,~at::l,LIlIIIl\II:.wmll IU,IU I" "'"QII~'"'~''''' r:U~1I OI\A J;.~7 a [I =, .,-, h Itom 11/ figuro 1 · Dato of authonticationl Itom 12 / figuro 1 · This i. ono oC tho Bonds doscribod in tho within montionod Rosolution, al roglstorod by City Control lor. CITY CONTROLLER By Rogistrar Itom 13, figuro 1 . Roglltrar and TransCor Agontl City Controllor Paying Agontl City Controllor Itom 14, Ciguro 1 . (Soal) Itom 15/ figuro 1 . (Signaturo Block) City oC Iowa City, Iowa BYI (mnnunl Blannturol Hayor Attostl (mnnual aiannturol City Clork Itom 16, Ciguro 2 · It Is cortifiod that tho following il a corroct and comploto copy of tho opinion of bond counsol Issuod as of tho dato of dolivory of tho issuo of which thll Bond is a part. ( fncB1~llLA.iannturol i city Clork , (Opinion of Bond Counsol) Itom 17/ figuro 2 · (Assignmont BlockI (Information Roqu rod for Rogistration) ASSIGIIHENT I I I I For valuo rocoivod, tho undorsignod horoby 801ls, assigns and transfors unto (Social socurity or Tax Idontification No. ) tho within Bond and doos horoby irrovocably constituto and appoint attornoy in fact to transfor tho said Bond on tho bocks kopt for rogistration of tho within Bend, with full powor of substitution in tho promisos. -21" III1.t'H")'~Ll.IIlIUI.ILI,11 1I,1l'IL, '~1TI11 IU.IUI, I', ""~"'rU''''''''''fJI'~'~ ~~7 n ~ '1 l' , Dated I (Person(s) executing this Assignmont sign(s) here) SIGNATURE ) GUARANTEED) IMPORTANT - READ CAREFULLY Tho signature(s) to this Power mUDt correspond with the name(s) as written upon tho face of the certificate(s) or bond(s) in evory particular without alteration or enlargemont or any change whatevor. Signature guaranteo should be mado by a member or member organization of the Now York Stock ExChange, mombers of other EXChanges having signaturos on file with transfer agents or by a commeroial bank or trust Comp5ny. INFORMATION REQUIRED FOR REGISTRATION OF TRANSFER Namo of Transferee(s) Address of Transferee(s) Sooial Seourity or Tax Identification Numbor of T/;'ansferoo(s) Transforee is a(n)l IndiVidual' Partnorship Corporation Trust 'It the Bond is to bo rogistorod in tho namOD ot multiplo individual ownors, tho namos of all such owners and ono addross and social socurity numbor must be provided. The following abbreviations, whon used in tho inscription on tho tace of this Bond, shall bo construod as though writton out in full according to applicablo laws or rogulationsl -22- ,IIILf.lI' 1"~LlI'l\llJ:II.t;III1I1\IL '111I111 II.LIII:LI'" ."OJI....'hHAW DCU..OItU (M& d-~7 . f/. .9, I~~/~: 8 J [1 [I :/ 'J-' ,cl Datod (Porlon(a) oxocuting thia Assignmont sign(s) horo) SIGNATURE ) GUARANTEED) IHPORTANT - READ CAREFULLY Tho signaturo(s) to thia powor must corrospond with tho namo(s) aa wrltton upon tho faco of tho cortificato(s) or bond(a) in ovary p4l'tlcular without altoration or onlargomont or any chango whatovor. Signaturo guarantoo should bo mado by a 1Il0mbor or mOlllbor organization of tho Ilow York Stock Exchango, 1Il0mbors of othor Exchangoa having oignaturos on filo with trans for agonts or by a commorcial bank or trust company. INFORMATION REQUIRED FOR REGISTRATION OF TRANSFER NalllO of Transforoo(s) Addross ot Tranatoroo(s) Social Socurity or Tax Idontitication Numbor of TJ;ansforoo(s) Transtoroo is a(n)1 Individual* partnorship corporation Trust *It tho Bond is to bo rogistorod in tho namos of multiplo individual ownors, tho. namos ot all such OWllors and ono addross and social socurity numbor must bo providod, Tho following abbroviations, whon usod in tho inscription on tho taco ot this nond, shall bo construod as though writton out in full according to applicablo laws or rogulationsl -22" IIIL1.II' "'~I.II"\llt:II.1.III1,II\I1. "IIITIII,II.LtI/:ll'f: ."041"'.""\"'0\' D11...0l'tIIlCM4 ~>>7 I . j' I I. , I ! , II ,I o [I ,:, 8 rl TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right ot survivorship and not as tenants in common IA UNIF TRANS HIN ACT - ........ ..CUstodian.......... (CUst) (Hinor) under Iowa Unitorm Transters to Minora Act........,. I . . . . . . . . (State) section 13. Contract Between Innuor And Purchasor. This Rosolution constituteD a contract between said City and the purchaser ot the Bonds. section 14. Non-Arbi~raao Covonanta. The Issuer reasonably expocts and covonants that no uao will bo modo ot tho procoodo trom tho issuanco and solo ot the Bonds iosuod hereunder which will causo any ot the Bonds to bo clasoitied as arbitrage bonds within tho meaning ot Section 148(a) and (b) ot tho Internal Rovenue Codo ot tho United Stateo, and that throughout the term ot said Bonds it will comply with the requirements ot Bald statute and regulationo iosued thereundor. To tho boot knowlodgo and beliot ot the Issuor, thoro aro no tacts or circumstancos that would matorially chango tho torogoing statomonts or tho conclusion that it is not expected that tho procoods ot tho Bonds will be used in a manner that would cause tho Bonds to be arbitrage bonds. Without limiting the generality ot the toregoing, the Isouor horeby agroes to comply with tho provisions ot tho Tax Exemption certiticato and tho provioions ot tho Tax Exemption Certiticato aro hereby incorporatod by retorence as part ot this Resolution. The Treasuror is hereby diroctod to mako and insert all calculations and dotorminationo necoooary to comploto the Tax Exomption Cortiticate in all rospocts and to oxecuto and delivor tho Tax Exomption cortiticato at issuanco ot tho Bonds to cortity as to tho roasonablo oxpoctations and covonants ot tho Issuor at that dato. ij Soction 15. Soverabilitv Clauso. It any soction, paragraph, clauso or provision ot this Rosolution bo hold invalid, such invalidity shall not attoct any ot tho romaining proviolons heroo~, and this Rosolution shall becomo ettective immediately upon its passago and approval. Section 16. Additional Covonants. RODreoontationo and Warrantios ot tho Issllor. The Iosuor corti ties and covonants with the purchasors and holders ot tho Bonds trom time to timo outstanding that tho Issuer through its otticers, (a) will make such turthor specific covenants, represontations and aoourances 00 may bo nocossary or advisablol (b) comply with all reprooontationo, covonants and aosurancoo containod in tho Tax -23- \111.1:"' ""In I.~ml:ll,[" 1111111, '~rrll'".LHlll'l '''0'l''1'''''~'~ CA...."""'. (hW ~;;'7 a . [I :, E' \/, . Exomption Cortiticato, which Tax Exomption Cortiticato shall constituta a part ot tho contract botwoon tho Issuor and tho ownors ot tho Dondsl (0) consult with bond counsol (as dotinod in tho Tax Exomption Cortiticato)I (d) pay to tho Unitod Statos, as nocossary, such luml ot monoy roprolonting roquirod robatol ot oxcoss arbitrago protits rOlating to tho Dondsl (a) tilo such torms, statements and supporting documontl as may bo raquirod and in a timoly mannorl and (t) it doomod nocossary or advisablo by its otticors, to omploy and pay tiscal agonts, tinancial advisorD, attornoys and othor parsons to assist tho Issuor in such complianco. Soction 17. Amondmont ot Rosolution to Maintain Tax ExomDtioQ. This Rosolution may bo amondod without tho conDant ot any ownor ot tho Dondo it, in tho opinion ot bond counsol, auch amondmont is nocossary to maintain tax oxomption with rospoct to tho Donds undor applicablo Fodoral law or rogulations. Soction 18. ouall(led Tax-Exempt Oblinations. For tho Dolo purposo ot qualitying tho Donds as "Qualit1od Tax Exompt Obligations" pursuant to tho Intornal Rovonuo Codo ot tho Unitod Statos, tho Issuor dosignatos tho Donda aa qualitiod tax-oxompt Obligations and roprosonts that tho roasonably anticipatod amount ot tax oxompt govornmontal and Codo soction 501(0)~ Obligations which will bo issuod during tho curront calondar yoar will not oxcood Ton (10) Million Dollars. Soction 19. RODoal ot Contlictinn Rosolutions or Ordinancos. That all ordinancos and rosolutions and parts ot ordinancos and rosolutions in contlict horowith aro horoby ropoalod. PASSED AND APPROVED this II th day ot Pocor.lbor 1990. I 11j.C."f4t /~I,-l:/n8"l3i 73 : ~ ~~, 'n~ ATTEST: JJ~(~J~ ~ ~H) Clo k rl07ll00lrm,1lOl9lO -24- III1,tll' "'M:\ "lIIlI:II,tlllIll\II, ..~nlll IU.I{ll', ""Oll""""~A"'" OfI~1 Ot.\ J:z~7 , 0 [I .~ E' j:' - CIO-J 4-85 CERTIFICATE STATE OF IOIIA COUNTY OF JOIINSON ) ) 55 ) I, tho undorsignod City Clork ot Iowa City, Iowa, do horoby cortity that attachod is a truo and comploto copy ot tho portion ot tho corporato rocords ot said Hunicipality Showing procoodings ot tho Council, and tho samo is a truo and comploto copy ot tho action takon by said Council with rospoct to said mattor at tho mooting hold on tho dato indicatod in tho attachmont, which procoodings romain in tull torco and ottoct, and havo not boon amondod or roscindod in any waYI that mooting and all action thoroat was duly and publicly hold in accordanco with a notico ot mooting and tontativo agonda, a copy ot which was timoly served on oach mombor ot tho Council and postod on a bullotin board or othor prominont placo oasily accossiblo to tho public and cloarly dosignatod tor that purposo at tho principal ottico ot the Council (a copy ot tho taco shoot ot said agenda being attachod hero to) pursuant to tho local rulos ot tho Council and tho provisions ot Chaptor 21, Codo ot Iowa, upon reasonablo advanco notico to tho pUblic and modia at loast twenty-tour hours prior to tho com- moncemont ot tho moeting as roquired by said law and with mombers ot tho pUblic prosont in attondancol I turthor cortity that tho individuals namod thorein woro on tho dato thoroot duly and lawtully possossod ot thoir rospoctivo city otticos as indicatod thoroin, that no Council vacancy oxistod oxcopt as may bo stated in said procoodings, and that no controvorsy or litigation is ponding, prayod or throatonod involving tho incorporation, organization, oxistonco or boundarios ot tho City or tho right ot tho individuals namod thoroin as otticors to thoir rospoctivo positions. WITNESS my hand and tho soal ot said Hunicipality horoto attixod this 11th day ot December , 1990. , I la;'~l~~, ;f ~J Iowa City, Iowa SEAL IIOlllOOIrmrlOUMl IIII.LII' """,II.~III:II,LIIII\I'IL '~rrll.IIJ.llIll'l ""o-"I'U'\.~ OUI.lOfoll' (Mo.. rJ:;.~7 I I I I I I I rl :/ 8 '~, J , 1 ,~ , ~ ! ~ I " ,. I i I Ctty of lo'~... ctt)~ MEMORANDUM ':'.~ ~[: ~..."'~- -0: :' ~II "'..~ ...~ :"~. :~~ ~,~CN: '- '. ,.. "H~' '. _,'~. 'lit, ...J-4 ... ..t,;;" ~. .....,""'"'t..-"...,1.... , -- --. . ~_. ~~ ~~ ..: . :':~:-N :~'t~ - \~\ 1::..-.:.,.,.: ..~ ,- n I. N ::~:'N N'~l S l.N ~: ~. \~~"l a~ t"l J:"I~ 't1..~ :"of'l~ N,)1t1 ., .'~'Il. 'loI'''-'''' N-;\tt 'lI! ~i\,,~,\! \'\,,' ,\1... :t!of'l. 7,,, !l":I"I:,I:'!;" :" :~of to/'O N)'tS '''''!.~'V :'t ,.,...~' \" It\~ \N{V :; t,~ ~~" ":....,1: "1:f :tl :~ ~,~~ \N~ :~', ~f}~7 , ! .. ~ I I I ! ~ I ! i' i1 ji ;< Ii !i I' i ! I I " ~, , I I I' I I I , , , 'j ! ') I I I I I I I i I I I I , j , , ! I i I , I I , (I .~ 8 :Y , [I ::, E' S ~ TO: FROM: RE: City of Iowa City MEMORANDUM DATE: December II, 1990 City Han.ger and City Counetl Donald J, Yuculs, Finance Director ~ Agenda Item ,g . Corrected P.ges Attached you wIll fInd corrected pages d and 10 of Agend. Item Ig. Plene tnsert these p.ges In your agenda packet and discard the old ones. The Information on the new pages Include the annual tax levy (page 8) and the tnterest rate on the bonds (page 10). ~~~7 I ,! ,; (; . I' i! \i I ;\,j I' I I I ! !. 'I tJ [I .~ E' h .....&.,.;, 11Io.... '."" ~'"~ ""~It.) ,H p.Ol (j) "Repre.entation Litter" ehall D.an the R.pr..entatlon Lett.r trom the city and the Paylnq Agent and Rlqlltrar to DTC, with r..pect to the Bondll (k) "Reqiltrar" Ihllll be City controller ot IowlI City I IowlI or luch IUCCO.llor I' may be IIpprov.d by II.ulr a. provided herein and who .hllll carry out the duties pre.crill.d hlr.in with re.pect to Daintaininq a regi.tor ot the owner. at the bonde. Unl08B othorwi.e .peciti.d, the R.gistrar .hall al.o act al Tran,ter Agent tor tho bond.; (1) "Tax Exolllption Cortificate" .hall mun the Tax Ex.mption C.rtiticllt. .x.cut.d by tho Troa.uror IInd d.liv.r.d at the time ot la.uance IInd d.llvery ot the Dondl' and (Ill) "Treaaurer" .hall 1Il.lIn the City Trell.uror or .uch other otticer a. .hall .ucceed to tho oamO dutl.. IInd re.pon.lbllltie. with r..pect to the recording end paYRlnt ot tho Bondo iODuod horoundor. S.ction 2. I.ew Ilnd Certiflclltion ot AnnulIl TIIXI ot:hor Fundll to be Qud. (a) Levy o'-Annual Tax. Thllt tor the purpo.. ot providinq fund. to pay the principal and intere.t ot the Bond. hereinatt.r authoriz.d to be i..ued, thoro i. her.by l.vied tor Gach futuro yoar tho following direct annual tax on all at the tllKabl. prcperty in Iowa City, Iowa, to-witl FISCAL YEAR (JULY 1 TO JUNK 30) YEAR OF COLLECTION. AMOUN~ ii $449,669 $369,612 $330,863 $318,262 $305,438 $292,613 $279,450 $266,1'15 $252,675 $238,950 1991/1992 1992/1993 1993/1994 1994/1995 1995/1996 1996/1997 1997/1998 1998f1999 1999/2000 2000/2001 (NOTEI For examplo tho lovy to bo mado and cortifi.d aqainat tho taxable valuation. of January I, 1990, will be colleotod durinq the fi.cal yoar commonoing July I, 1991). (b) Relolution to be Fil.d With County Auditor, A certitied copy of thl. R,solution ahould ba fil.d with the County AUditor of Johnoon County, Iowa, and Daid Auditor i. heroby inatructed in and tor .ach ot thl year. a. provided, to levy and a..... the tax h.r.by authorized in Seotion 2 of "8- 'HLiH' ".~I'\ l'ihM,ILlh It.\\~lt '1IITlIl.lI.LltI.I'1. .'10,1II,..U...." OfI"""U<YIt :;~7 -. , [/.:1 8 ,,-, , """ ,",~".. ""'1 , ,filii ..'"~ ....'..; ." ~.,,~ thl 10n1Y' ef. r.quir.d tor paym.nt ot principal ot or intlr..t on thl Bond. e. herlin provided. Slction 6. ~nd-QJ_tA!ll. EK~ution and Redomptlgn. (a) DQnd-D1ll1l1. alneral Obligation Bonde ot the City in the amount ot $2,300,000, .hal1 b. i..u.d pur.uant to the provi,iono of Soction 384.2S of tho City Code or Iowe tor the aforl.aid purpo'I, Thl Dond. .hall bl dlsignated "GENBRAL OBLIO~TION BOND", bl dat.d O.cemb.r 1, 1990, end blar intorost from tho dato thoreof, until payment theriot, at the ofticl ot the Payin~ ^~.nt, .aid int.r..t payable on Jun. 1, 1991, and .Imiannually thereaftor on thl l.t day ot Olc.mblr and June in lach Ylar until maturity at thl rato. horeinafter provided. Tho Bond. .hall bl IXlcutld by tho manual signature of tho Hayor and attl.t.d by thl manual .i9naturl of the Clork, and iapr....d with tho aoal of tho City and aha11 bl tully registored a. to both principal and int.r..t a. providod in thi. R.lolutionl principal, intorost and promium, it any .hall bo payabll at thl otticl ot thl paying Aglnt by maIling of a chick to the rl~i.tlr.d owner of the Bond. The Bond. .hall be in tho denomination of $S,OOO or mUltiplo. thoroot. Tho Bonds shall maturl and bear interl.t a. tollow., Intorost Principlll Haturity Rstl -AmQllJlL J.IlnLllt 5.40\ $250,000 1992 , 5.50\ 250,000 1993 Ij 5.60\ 225,000 1994 5.70\ 225,000 1995 5.70\ 225,000 1996 5.85\ 225,000 1991 !l.9 0' 225,000 1998 6.00' 225,000 1999 6.10' 225,000 2000 6.20' 225,000 2001 (b) Rtdtmptt20. Bonds maturing aftor Juno 1, 1998, may b, callld for rodomption by thl Ie.uer and paid bltorl maturity on .aid dati or any interest paymont date therlaftlr, trom any lunds rogardlool ot lourco, in whole or trom timl to time in part, in any ord.r ot maturity and within an annual maturity br lot by giVing thirty daye' noticl ot redemption by reg .tlred mail, to thl regiltered owner ot the Dond. The term. of redemption .hall be par, plu. accrued interost to dati of call. It I.llction by lot within a maturity i. required, the Rlq11trar .hall by random ,election or tho name. of the -10- IIILlJI' OJ,,,,, ~'jl~I,:J.[",HI\}II ',QI1HI,\I.LULLII '"O-Iil.-"'LUI 1l1l...~,"IIlCh\. J:J27 ,0 tJ [I ,:, E' R RESOLUTION NO. 90-228 RESOLUTION AUTHORIZINQ EXECUTION OF CONSOUDATED ANNUAL CONTRIBUTIONS CONTRACT KC.D033E. WHEREAS, tho City 01 Iowa City (horoln callod tho 'Local Authorlly') proposos 10 onlor Into a rovlsod contract (horoln callod tho 'Annual Conltlbutlons Contract1 with tho Unllod Slalos 01 Amorlca (horoln callod tho 'Govornmont1 with rospoct 10 any 'proJoet' as donnod In tho Annual Contributions Conlracllllld which at any tlmo now or horoaltor Is Incorporalod undor tho lorms 01 such Conlract, BE IT RESOLVED BY THE LOCAL AllTHORITY as follows: Soctlon 1, Tho Annual Conlrlbutlons Contract KC.9033 In substantially tho form horolo allachod lIIId morkod 'Exhlbll A'ls horaby approvod and accoplod both as to form and subslanco and tho Mayor or Mayor Pro tom Is horoby suthorlzod and dlroclod 10 oxoculo sold Contraclln two coplos on bohalf of tho Local Authority, and tho City Clork Is horoby aulhorlzod and dlroclod 10 ImprOll lIIId allost Iho official soal 01 tho Local Authority on oach such counlorpart and 10 forward said oxocutod countorparts, or any 01 thom, to Iho Govornmont, logolhor with such olhor documonts ovldonclng tho approval and aulhorlzlng tho oxocutlon Ihorool as may bo roqulrod by tho Govornmont. ~. Whonovor tho following lorms, or any of thom, aro usod In this Rosolutlon, Iho samo, unlosstho conloxl shalllndlcato anothor or dllforont moaning or Intonl, shall bo construod, and aro Inlondod to havo moanlngs as lollows: (1) Tho lorm 'Rosolutlon' shall moan Ihls Rosolutlon, (2) All othor lorms usod In this Rosolutlon and which aro donnod In tho rovlsod Annual Conlrlbutlons Conlractshall havo tho rospoctlvo moanlngs ascrlbod thoroto In tho rovlsod Annual Contributions Conlract. Soctlon 3, this Rosolutlon shall tako olfoct Immodlaloly, II was movod by I.orson and socondod by Ambrloco adoplod, and upon roll call thoro woro: tho Rosolutlon bo AYES: NAYS: ABSENT: -L X -L X - -L -X Ambrlsco Courtnoy Horowitz Kubby Larson x McDonald Novick .2~~8 tJ [I =1 8 c,' RosoluUon No. 90- 228 Pogo 2 Posaod and opprovod this \I th day 01 Docolllbor 0 1990. ATTEST: ~ILlt~.) .y, ~fJ CLERK /l"~,d )1 .!hh'~_! - (fIt.r6R;;" 1011I App.rovod b~ d ~OY'SOlfieo ~ ~ p-t;- ,1 I ~lbU" jI q i\ Ii \! I' II I ,I /' , , i i i \ , > 1 i I . ~~~8 J,. a [I ,:/ Cf r, RESOLUTION NO. 90- 229 CONSIDER RESOLUTION APPROVING, AUTHORIZING, AND DIRECTING THE MAYOR TO EXECUTE AND THE CITY CLERK TO ATTEST AN AGREEMENT FOR USE OF PUBUC PROPERTY BY AND BETWEEN OUN L LLOYD AND DWAINE R. ANDERSON, AN IrmA GENERAL PARTNERSHIP, FOR THE PLACEMENT OF A LANDING, STEPS, AND PROTECTIVE HANDRAIL ON THE EAST BLOOMINGTON STREET RIGHT.OF.WAY, WHEREAS, Olin L Uoyd and Dwalno R. Andorson, also knovt'l\ os Andorson and Uoyd, Gonoral Partnora, 11I0 ownors 01 cortaln roal ostato locatod at 318 East Bloomington SlIoot, Iowa City, Iowa, horoallor 'Ownors" and logally doscrlbod as lollows: Tho oastthlrty (30) loot 01 Lot Six (6) and Iho wostlorty (40) 1001 01 Lot Sovon (7), Block Fllty.sovon (57), Original Town 01 Iowa City, Iowa, and WHEREAS, Ownor has loasod tho oOOvo-doscrlbod proporty to Uvlng Word Chrlsllan Followshlp; and WHEREAS, Uvlng Word Chllsllan Followshlp was roqulrod by City to provido 0 socondory OCCOlS 10 tho oxlsllng building localod on tho aOOvo-doscrlbod proporty; and WHEREAS, Uvlng Word Chrlsllan Followshlp constructod tho socondary accm on tho soulh wall 01 tho building which abuts tho north proporty IIno 01 Bloomlnglon Stroot; and WHEREAS, tho floor 01 said building Is at an olovollon :I: 10010001'0 tho Bloomington Slroot rlghl. ol.way; and In ordor to uso Iho socondary accoss, It Is nocossary to conslruct a landing, stops, and protoctlvo railing on City rlght.ol.way; and WHEREAS, Ownor sooks City approval to locato tho landing, stops, and protocllvo railing on tho Bloomington Stroot rlght-ol.way; and WHEREAS, tho Dopartmont 01 Publlo Works nnds tho loco lion 01 tho landing, stops, and protocllvo handrail 10 bo 0 minimal Intrusion onto tho publlo rlght-of.way, and also nnds that tralno will not bo matorlally Impodod; and WHEREAS, tho City agroos to allow uso 01 tho Bloomington Stroot rlght.ol.woy as a valid publlo purposo slnco socondory accoss Is roqulrod by CIIy rogulallons, tho stops, landing and railing oro nocossary to onsuro solo uso ollhls accoss, subloct to tho torms and condlllons stalod In tho atlachod Agroomont lor Uso 01 Publlo Proporty, ! II NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA, THAT: 1, Tho Agroomont lor Uso 01 Publlo Proporty atlachod horolo Is approvod as to lorm and conlont. 2. Tho Mayor Is authorlzod to oxocuto and tho City Clork to altost tho Agroomont for Uso of Publlo Proporty lor and on boholl 01 tho Clly of Iowa Clly. ;;':;.9 o [/=' cl . , Rosolullon No. 90-229 pago 2 II was movod by Ambrlaco and locondod by Kuhhy adoplod, and upon roll call1horo woro: tho ROlolullon bo AYES: NAYS: ABSENT: ..L Ambrlsco -L Courtnoy ....L Horowitz X Kubby X- Loraon - X McDonald X Novick Passod and approvod Ihls II th day 01 Decomher ,1090. AllEST: 7J'I,III~"J ,f ~.v....J CiiY CLERK ,,1 , ,t ! I i I < ! i ,I 1 , , ' , . :' i I I I I I I . t2~9 ! , I I , I , [1' [I g c, j:' AGREEMENT fOR USE OF PUDUC RIGHT.OF.WAY This Agroomontls modo by and botwoon Olin L Uoyd and Dwalno R. Andorlon, olIo known os Andorson and Uoyd, Gonoral Partnors, horolnaftor roforrod to as 'Ownor,' and tho City 01 Iowa CIIy, a municipal corporation, horolnaftor roforrod 10 os 'CIIy.' WHEREAS, Ownor Is tho 100 ownor 01 cortaln roal oslalo locOlod al310 EoSI Bloomington Slrool, Iowa CIIy, Iowa, and logally doscrlbed as follows: Tho oaslthlrty (30) fool of lot Six (0) and tho wost forty (40) foot of Lol Sovon (7), Block fllly.aovon (57), Original Town 01 Iowa CIIy, Iowa, ond WHEREAS, Ownor has loosod tho obevo,doscrlbod proporly 10 Uvlng Word Chrlstlon Followshlp; and WHEREAS, Uvlng Word Christian Followshlp was roqulrod by CIIy to provldo a socondary accoss to tho oxlstlng building locatod on tho abovo-doscrlbod proporty; and WHEREAS, Uvlng Word Christian Followshlp constructod tho socondary accoss on tho south wall of Iho building which abuts tho north proporty IIno of Bloomington Slrool; and WHEREAS, tho noor of said building Is at an olovatlon :1:3 fool abovo Iho Bloomington Slrool rlghl-of.way; and In ordor 10 uso tho socondary accoss, Ills nocossary 10 construct a landing, stops, and protoctlVO railing on CIIy rlghl-of.way; and WHEREAS, Ownor sooks CIIy approval 10 locato tho fandlng, stops, and proloctlvo roiling on tho Bloomington Strool rlght.ol.way; and WHEREAS, tho Dopartmont of Public Works nnds tho location of tho landing, stops, and protoctlvo handrail 10 bo a mlnlmallnlruslon onto tho public rlght.of.way, and also nnds Ihattrarnc will not bo matorlally Impodod; and WHEREAS, Iho CIIy agroos to allow usa ollho Bloomington Stroot rlght.of'Wby dS a valid publlo purposo slnco socondary accoss Is roqulrod by City rogulallons, and tho stops, and landing and railing aro nocossary 10 ensure safo usa of this accoss, sub)OCllO tho lorms and conditions statod horoln, NOW, THEREFORE,IN CONSIDERATION OF THE MUTUAL PROMISES SET FORTH BELOW, IT IS AGREED AS FOllOWS: 1. Ownor shall bo allowod to Inslall, oporalo, and maintain, for Iho oxcluslvo uso by tho curronttonant, Uvlng Word Christian Followshlp, a landing, stops, and protoctlvo handrail on CIIy proporty abultlng 310 East Bloomlnglon Stroot as ahown on tho attachod skotch and approvod by tho Clly Housing and Inspoctlon Sorvlcos Dopartmont. ~9 ,0, a [I ,g' ,C,:~ . 2 2, Ownor 80roo.'o romovo lho landing, 'IOp" and plOIOcllvo handroll from Iho Bloomington Strootllght,ol.woy whon any ono 01 tho following ovontl occurl: A. Within 30 dOYI oltor bolng ord%d to do 10 by tho Clly. B. Tho u.o of tho proporty chango. and tho landing, .top., and protoctlvo handrail 110 no longor roqul/od. C. Tho curront tononl, UvIng Word Chrllllan Followshlp, no longo/ occuplol tho obovo.doserlbod P/oporly. If Ownor lolls to romovo tho landing, .tops, and handrail os roqulrod obo~", tho City may romo'lO thorn ond tho co.tthoroollhall bo omlsod ogalnst tho P/oporty In tho manno/ provldod In Soctlon 364.12(0), Iowa Codo (1909). 3. Ownor agroos 10 maintain tho landing, stops, and hand/all In oood and /oasonablo ropalr 10 as to mlnlmlzo dangor, 4. In tho ovont tho laid landing, stops, and/or hand/all % ovor roplacod for any roason, Ownor ag/oos to roploco II, lubloelto tho approval 01 tho Public Works Dopo/tmont. 6. Ownor agroos to Indomnlfy, dolond, and hold tho City ha/mlolS In eonnocllon with any liability whatsoovor arising In rogard to tho Inslallatlon, malntonanco, uso, location, or ropolr oruld landlng,llops, and handrail, Including any liability which tho City may Incur a. a rOlult of Itl doclslon to allow placomont ol.ald landing, stops, and handrail on tho Bloomington Stroot rlght.ol.way. Ownor Is roqulrod and ogroos to carry liability Insuranco, In minimum omountl of SSOO,OOO-SI,OOO,llOO-$250,OOO with contractual liability covorago Includod a. port olluch Insuronco, and Ihalllurnlsh 8 copy 01 tho policy, or 8 cortlncoto of Insuronco lor lamo,latlsfactory to tho City, Ownor agroos to maintain such Insuronco In lorco unliltho landing, .tops, and handrail ora romovod Irom City proporty, and falluro to maintain such Insuronco In lorco ahall automatically tormlnato tho grant 01 pormlsslon contalnod horoln. Tho portlos agroo that Iho City may roqulro roasonablo Incroasos In tho amount 01 covorago In ordor to provldo comparablo covorago proloctlon In tho luturo. II tho roqulrod Insuranco Is not malntalnod, tho City shall havo tho rlohtto romovo tho landlna, stops, and handrail following nvo (5) working days prior wrlllon notlco to tho ownors 01 tho proporty, Cost 01 auch romovolshall bo assossod agalnstlho proporly In tho mannor provldod In Soctlon 364,12(0), Codo 01 Iowa (1069). 6. Ownor acknowlodgos and agroos that no proporty right Is conlorrod by this grant 01 pormlsslon: thai tho Clly Is nol ompoworod 10 grant 0 pormonont uso 01 Its strool rlght.of. way lor prlvato purposos; and that tho City may ordor sold landing, slOps, and hand/all romovod atony limo II, for any rooson, tho Clly Council dotormlnos thai tho proporty upon which tho landing, slop., and handrail aro locatod aro noodod for publlo uso and/or should bo cloarod 01 any or 011 obst/ucllon.. 7. This Agroomont shall con.liluto 0 covonant running with tho land, and sholl bo binding upon and shalllnuro to tho bonofit 01 tho rospoctlvo holrs, succossors In Intorost, and assigns of both porllos, oxcopt OS sotlorth In Paragraph 2 abovo. ., :2AA9 --- -- rl ::/ c, Y - 3 Dalod thlsl.!... day 01 Doccmbc r , 1990. CITY OF IOWA CITY ANDERSON AND LLOYD, A GENERAL PARTNERSHIP PROPERTY OWNERS By ~-- AltOSI: ~.~tdBY C_ ' "/l~"'" ~n;,;,/#-,k,1 City Altom",', OIflct 1.2. - s-?() ~~I;,i~) ,f ~ STATE OF IOWA ) )SS: JOHNSON COUNTY ) On this 11 th day 01 Docombor , 19..2L.. boJoro mo, Ginn H, IIolck I a NOlary Publlo In and lor tho 6taloollowa, porsonally oppoarod SUlnn IIorowltr & Marian K. Karr, to mo porsonally known, and, who, bolng by mo duly sworn, did say thai thoy aro tho Mayor and CIIy Clork, rospocUvoly, ollho City 01 Iowa City, Iowa; Ihal tho aoal alfixod 10 tho lorogolng Instrumonlls Iho corporato aoal of tho corpora lion, and Ihat tho Instrumont was algnod and aoalod on bohalf 01 tho corporallon, by authority ollis City Council, os conlalnod In (tlI~ (Rosolullon) No, 90-229 passod (tho Rosolullon adoplOd) by tho CIIy Council, undor Roll Call No, ------ 01 tho City Council on tho II th day 01 Docombor , 19.JL, and Ihat SUlnn IIorowlh & Marian K. Karr acknowlodgOd Iho oxocullon 01 tho Inslrumonl to bo tholr voluntary act and dood and tho voluntary act and dood 01 tho corpora lion, by II voluntarily oxocutod. .ctl-I\t~ ~ C\W.UJc Notary Public In and lor Iho Stalo ollowo :lP.~ 9 . If \ [I :f.' cl C, 4 STATE OF IOWA ) I SS JOHNSON COUNTY ) On this Ie.... day 01 'JH'('f ,1/ Ai<' ,,-. , 19 ~, boloro mo tho undorslgnod, a NOIIIY Public In and lor tho Slalo 01 Iowa, porsonally appoarod Olin L Uoyd, 10 mo porsonally known, who baing by mo duly sworn, did say thot tho porson II one 01 tho partnors 01 Andorson and Uoyd, an Iowa Gonoral Partnorshlp, and that tho Inlllumont 1'101 slgnod on bohall of tho partnorshlp by aulhorlly 01 tho partnors; and tho partnor acknowlodgod tho oxocutlon 01 tho Inlllumonlto bo Iho voluntary act and dood ollho partnorshlp by It and by tho partnor volunlarlly oxoculod. PWIdmInIUltlC7lY,1gl I I I' ~:J,~9 . (-- ~:o" {- ,. '0' I V-' If h ~ ~O ;, f~l r .:)' ). , J' ~ , 16" : " -0 I I .}. o [/. :/ C, h . "- ~ ~\ : ~',o' 0- I ~ FloJ- ~}'o'lL!~~ ...:._____ ---- ~ I I 5:0' I , " r- 10.0 ~ , . 3.0 dOo)o . , ..:...............1 , a.1 L/ OGO' _.:' '1"f. 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