HomeMy WebLinkAbout2002-10-22 Resolution RESOLUTION NO. 02-358
RESOLUTION TO ISSUE DANCING PERMIT
BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA, that a Dancing Permit as
provided by law is hereby granted to the following named person and at the following
described locations upon his filing an application, having endorsed thereon the certificates of
the proper city officials as to having complied with all regulations and ordiQanc~s., and
having a valid beer, liquor, or wine license/permit, to wit:
Que 211 Iowa Avenue
Cage 220 E. Washington Street
It was moved by Champion and seconded by 0'Donnell that the Resolution
as read be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilburn
Passed and approved this 22nd day of October ,20 02.
f(~r, oved by
CITY'CLERK City Attorney's Office
clerk\res\danceprm.doc
Prepared by: Mitchel T. Behr, Assr City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030
RESOLUTION NO. 02-359
RESOLUTION OF INTENT TO CONVEY 656 SOUTH GOVERNOR STREET TO GARY
HUGHES, AND SETTING A PUBLIC HEARING ON SAID CONVEYANCE FOR
NOVEMBER 5, 2002.
WHEREAS, the City condemned the property located at 656 South Governor Street as a public
nuisance; and
WHEREAS, the City has entered into a contract, subject to formal approval by the City Council,
for the sale of the property to Gary Hughes for $26,000, for demolition of the currently existing
structure and construction of a new residential structure; and
WHEREAS, conveyance of the property, for demolition of the currently existing structure and
construction of a new residential structure, is in the public interest.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1. The City Council does hereby declare its intent to convey 656 South Governor Street to Gary
Hughes for $26,000, for demolition of the currently existing structure and construction of a
new residential structure.
2. Public hearing on said proposal should be and is hereby set for November 5, 2002 at 7:00
p.m. in Emma J. Harvat Hall of the Civic Center, 410 East Washington Street, Iowa City, Iowa,
or if said meeting is canceled, at the next meeting of the City Council thereafter as posted by
the City Clerk, and that the City Clerk is hereby directed to cause notice of said public hearing
to be published as provided by law.
Passed and approved this 22nd day of October ,20 0Z
CI~LERK C~ At'[or'ff~y's'Office --
Resolution No. 02-359
Page 2
It was moved by Champion and seconded by 0'I3onnel 1 the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilburn
Prepared by: Mitchel T. Behr, Asst City Attorney, 410 E. Washington St., Iowa City, ~A 52240 (319) 356-5030
RESOLUTION NO.
RESOLUTION OF INT~ENT TO CONVEY 656 SOUTH GOVERNOR GARY
HUGHES, AND SETTING A PUBLIC HEARING ON SAID FOR
NOBEMBER 5, 2002.
WHEREAS, the City condemnec~he property located at 656 S, Governor Street as a public
nuisance; and
WHEREAS, the City has entered contract, subject approval by the City Council,
for the sale of the property to Gary for $26 for demolition of the currently existing
structure and construction of a new resi( and
WHEREAS, conveyance of the property, of the currently existing structure and
construction of a new residential structure, ~s
NOW, THEREFORE, BE IT CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1. The City Council does hereby intent to 656 South Governor Street to Gary
Hughes for $26,000, for of the currently structure and construction of a
new residential structure.
2. Public hearing on said should be and is : for November 5, 2002 at 7:00
p.m. in Emma J. of the Civic Center, 410 ~ington Street, Iowa City, Iowa,
at the next meeting of the Jncil thereafter as posted by
the City Clerk, an City Clerk is hereby directed to public hearing
to be published ~ provided by law.
Passed and s this day of
MAYOR
CITY CLERK
rnitclflA/condemnatJon miscellaneous/656 S Gov/CC conveyance dccs
City of Iowa City
MEMORANDUM
Date: October 14, 200/~
To: City Council ~ ,
From: Douglas Boothroy, Director H ervices
Re: Sale of 707 Walnut Street~ I 656 South Governor ~.reet
This memorandum is to forward staff's recommendation concerning the sale of these
properties.
Back,qround
This summer, the City condemned these properties as a nuisance under the provisions of
Iowa Code 364.12A for the public purpose of conveying the property for rehabilitation or
for demolition and construction of housing. The property at 707 Walnut Street was offered
for rehabilitation of the existing house and 656 South Governor Street for demolition and
new construction of a single-family home. The purchase offers for these properties were
due on October 7, 2002, and have now been evaluated. Staff has placed on the Council
agenda of October 22, 2002 an item to set a public hearing on disposition of these
properties for the November 5, 2002 Council meeting.
707 Walnut Street
Recommendation: Teagle Construction Company
Comment: This project involves the restoration of a circa 1900 two-story home. The City
received nine purchase offers for this property. Teagle Construction Company has
considerable experience in restoration of historic homes in Iowa City and the quality of
work is excellent. Teagle Construction Company proposes to have the house completely
restored by the spring of 2003.
656 South Governor Street
Recommendation: Gary Hughes
Comment: This project is the demolition of the existing house within 45 days of acquisition
and construction of a new single-family house in compliance with the City's Conservation
Overlay Zone. The City received two purchase offers for this property. Gary Hughes has
the ability to complete the project. Mr. Hughes' intent is to have the existing structure
demolished and the basement filled in within two weeks after closing, and a new house
under construction this winter subject to its design being approved by the Historic
Preservation Commission.
hisadm/mem/propertydisposition.doc
Prepared by: Mitchel T. Behr, Asst City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030
RESOLUTION NO. 02-360
RESOLUTION OF INTENT TO CONVEY 707 WALNUT STREET TO EDWIN TEAGLE,
AND SETTING A PUBLIC HEARING ON SAID CONVEYANCE FOR NOVEMBER 5,
2002
WHEREAS, the City condemned the property located at 707 Walnut Street as a public nuisance;
and
WHEREAS, the City has entered into a contract, subject to formal approval by the City Council,
for the sale of the property to Edwin Teagle for $65,000, for rehabilitation of the currently existing
structure; and
WHEREAS, conveyance of the property, for rehabilitation of the currently existing structure, is in
the public interest.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1. The City Council does hereby declare its intent to convey 707 Walnut Street to Edwin Teagle
for $65,000, for rehabilitation of the currently existing structure.
2. Public headng on said proposal should be and is hereby set for November 5, 2002 at 7:00
p.m. in Emma J. Harvat Hall of the Civic Center, 410 East Washington Street, Iowa City, Iowa,
or if said meeting is canceled, at the next meeting of the City Council thereafter as posted by
the City Clerk, and that the City Clerk is hereby directed to cause notice of said public hearing
to be published as provided by law.
Passed and approved this 22nd day of OCl;ober ,20 fl? .
CITY'CLERK ' Cfl't"y ~?a ~ ffi e y~'111~'~
rnitch/NcondemnatJon rnlscellaneous/707 Walnut/CC conveyance dccs
Resolution No. 02-360
Page 2
It was moved by Champion and seconded by 0'Donnel 1 the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ASSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
){ Pfab
X Vanderhoef
X Wilburn
Prepared by: Sarah E. Helecek. First Asst. City Atty., 410 E, Washington St., Iowa City, IA 52240 (319) 356-5030
RESOLUTION NO. 02-361
RESOLUTION OF INTENT TO CONVEY PORTIONS OF VACATED PORTIONS
OF RIGHT OF WAY ALONG SOUTH FRONT STREET, THE 100 BLOCK OF
WEST PRENTISS STREET, THE 100 BLOCK OF WEST HARRISON STREET
AND THE ALLEY BETWEEN THE 100 BLOCKS OF WEST PRENTISS AND
WEST HARRISON STREET TO THE UNIVERSITY OF IOWA/IOWA STATE
BOARD OF REGENTS, WITHOUT COMPENSATION, AND SETTING A PUBLIC
HEARING ON SAID CONVEYANCE FOR NOVEMBER 5, 2002
WHEREAS, On October 22, 2002, the City Council will consider final adoption of two ordinances,
one vacating several small portion of right-of-way along Front Street between Burlington and
Prenitss Streets as well as the west half of the 100 block of West Prentiss Street, and the second
ordinance vacating the right-of-way comprising the east half of the 100 block of West Prentiss
Street, the 100 Block of West Harrison Street and the 20' wide alley between the 100 Blocks of
West Prentiss and West Harrison Streets; and
WHEREAS, the vacation and disposition of the vacated property will facilitate redevelopment of
the area by the University of Iowa/Iowa State Board of Regents; and
WHEREAS, the adjacent properties have been acquired by the University of Iowa/Iowa State
Board of Regents for redevelopment of the area, and as such redevelopment is by a
governmental body for a public purpose, it is proposed that said property transfer be made without
compensation to the City pursuant to iowa Code §364.7(3); and
WHEREAS, the City does net need the vacated right-of-way to provide access to property in the
area and the disposition of the subject property is in the public interest.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF IOWA CITY,
IOWA, that:
1. The City Council does hereby declare its intent to convey its interest in the portions of
right-of-way described herein to the University of Iowa without compensation.
2. A public hearing on said proposal should be and is hereby set for November 5, 2002, at
7:00 p.m. in Emma Harvat Hall of the Civic Center, 410 East Washington Street, Iowa
City, Iowa, or if said meeting is cancelled, at the next meeting of the City Council thereafter
as posted by the City Clerk, and that the City Clerk be and is hereby directed to cause
notice of said public hearing to be published as provided by law.
Passed and approved this 22nd day o~
AOR--
ATTEST: 7,,¢?,,¢~,-~-~-~/ ~ .~,~
_ CIT~ CLERK
ResolutiOn No, 02-361
Page 2
It was moved by Champ'ion and seconded by 0'Donnel '1 the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X ':- Kanner
)~ Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilbum
Prepared by: Sarah E. Holecek, First Asst. City Attomey, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030
RESOLUTION NO. 02-362
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO
ATTEST A SANITARY SEWER EASEMENT AGREEMENT FOR DUCK CREEK
CONDOMINIUMS, IOWA CITY, IOWA.
WHEREAS, pursuant to the Code of Ordinances of the City of Iowa City, Iowa, South Pointe
Partners, L.L.P. submitted a site plan for development of Johnson County Auditor's Parcel No.
98100, said development to be named Duck Creek Condominiums, Iowa City, Iowa; and
WHEREAS, under said plan, a sanitary sewer line was installed to service the development within
the subdivision, and certain easement rights must be acquired to ensure the continued operation
of the newly installed public infrastructure; and
WHEREAS, City staff has approved the location of the proposed sanitary sewer providing service
to this development; and
WHEREAS, the easement agreement requires City Council approval; and
WHEREAS, the execution of said easement agreement is in the public interest and advances the
public health, safety and welfare of the citizens of Iowa City, Iowa.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1 The Mayor is hereby authorized to sign and the City Clerk to attest the Sanitary Sewer
Easement Agreement for Duck Creek Condominiums, iowa City, Iowa.
2. The City Clerk is hereby authorized and directed to certify a copy of this Resolution and to
record the same with the above-referenced Easement Agreement in the Johnson County
Recorder's Office at the expense of South Pointe Partners, EL.P.
Passed and approved this 22nd day 0~~.~_~ ,_ ~,~~..~._.
AYR
ATTEST:-~.)~¢z.4.~.~,¢../ CIT'CCLERK
creek sanse~ver ease res.doc
Resolution No. 02-362
Page 2
It was moved by Champion and seconded by O'ponnell the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X : - Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilbum
Prepared by: Thomas H. Gelman 321 E Market St. (319)354-1104
Iowa City, IA 52244
SANITARY SEWER EASEMENT AGREEMENT
DUCK CREEK CONDOMINIUMS, IOWA CITY, IOWA
THIS AGREEMENT, made and entered into by and between South Pointe
Partners, L.L.P (Grantor), which expression shall include its successors in interest and
assigns, and the City of Iowa City, Iowa (the City), which expression shall include its
successors in interest and assigns.
WlTNESSETH:
It is hereby agreed as follows:
For the sum of $1.00 plus other valuable consideration, the receipt of which is
hereby acknowledged, Grantor hereby grants and conveys to the City an easement for the
purposes of excavating for and the installation, replacement, maintenance and use of such
sewage lines, pipes, mains and conduits as the City shall from time to time elect for
conveying sewage, with all necessary appliances and fittings, for the use in connection
with said pipe lines, together with adequate protection therefor, and also a right of way,
with the right of ingress and egress thereto, over and across the area designated as sanitary
sewer easement on the Easement Plat attached hereto, which area is hereafter referred to
as "easement area".
Grantor further grants to the City:
1. The right of grading said easement area for the full width thereof, and to
extend the cuts and fills for such grading into and onto said lands along and outside of the
easement area to such extent as the City may find reasonably necessary.
2. The right from time to time to trim, cut down and clear away any and all
trees and brush on the easement area and also to trim, cut down and clear away any trees
on either side of the easement area which now or hereafter, in the opinion of the City, may
be a hazard to the easement area, or which may interfere with the exercise of the City's
rights hereunder in any manner.
The City shall promptly backfill any trench made by it, and repair any damages
caused by the City within the easement area. The City shall indemnify Grantor against
unreasonable loss or damage which may occur in the negligent exercise of the easement
rights by the City. Except as expressly provided herein, the City shall have no
responsibility for maintaining the easement area.
Grantor reserves the right to use the easement area for purposes which will not
interfere with the City's full enjoyment of the rights hereby granted; provided that the
Grantor shall not erect or construct any building, fence, retaining wall or other structure,
plant any trees, drill or operate any well, or construct any reservoir or other obstruction on
the easement area, or diminish or substantially add to the ground cover over the easement
area. City reserves the right to remove any trees, buildings, fences or other structures
(excluding pavement) erected within the easement area without compensation.
Grantor does hereby covenant with the City that it is lawfully seized and possessed
of the real estate above descried, and that they have a good and lawful right to convey it
or any part thereof
Nothing in this Agreement shall be construed to impose a requirement on the City
to install the original public improvement(s) at issue herein. Nor shall Grantor be deemed
acting as the City's agent during the original construction and installation of said
improvement(s). Parties agree that the obligation to install the public improvement(s)
herein shall be in accordance with City specifications, and the obligation shall remain on
Grantor until completion and until acceptance by the City, as provided by law.
The provisions hereof shall inure to the benefit of and bind the successors and
assigns of the respective parties hereto, and all covenants shall apply to and run with the
land and with the title to the lan&
Dated this a~ day of ~2I"~-~.n' ,2001.
SOUTH POINTE
.-': "...?2%
a ~op01. e~ J.~q~ ~,ny a~a_, Partner
(seal) '+ t~. ...... · . T~le
BY~-~~~CITY O~'I'"~vn CITY, I8~0~~~
Mlyo-r
ATTEST:
City~lerk
2
STATE OF IOWA )
) ss
COUNTY OF JOHNSON )
On this day of ~'~ , 2001, before me, the
under, signed, a~ Notary Public in afl8 fortthe State of Iowa, personally appeared
'~77~[~'~ ~J, ~, to me personally known, who, being by me duly sworn, did
sa3(-~hat he is the' P~e'~',:~t-' of Southgate Development Company, Inc.,
a Partner of South PointePartners, L.L.P., an Iowa limited liability partnership, executing
the foregoing instrument; that the seal affixed to said instrument is the seal of said
corporation; that the instrument was signed and sealed on behalf of the corporation as a
Partner of South Point Partners, L.L.P. bv authority of the corporation's Board of
Directors; and that the said /t//o~ /~. ~,-rta. a~ as such officer acknowledged
the execution of said instrument~6 be the voluntary act and deed of the corporation and
Partnership, by it voluntarily executed.
,~1 My Comml~.lon F_.~lre~ Notary Public for the State of Iowa
STATE OF IOWA )
) ss
COUNTY OF JOHNSON )
On this O~.~a day of D~roag~_ ,21504-; before me, the undersigned, a
Notary Public in and for said County and State, personally appeared Ernest W. Lehman
and Marian K. Karr, to me personally known, who, being by me duly sworn, did say that
they are the Mayor and City Clerk, respectively, of the City of Iowa City, Iowa, executing
the within and foregoing instrument; that the seal affixed thereto is the seal of the
corporation by authority of its City Council; and that the Mayor and City Clerk
acknowledged the execution of the instrument to be the voluntary act and deed of the
corporation, by it and by them voluntarily executed.
,.~%1 SONDRAE FORT I
ICommission Numbal' 15979~ ~
I'Ta~"l 3-?-a5 I Notary Public for the State of Iowa
Prepared by: Liz Osborne, PCD, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5246
RESOLUTION NO. 02-363
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK
TO A'I-rEST TO THE RELEASE OF LIEN REGARDING TVVO MORTGAGES
FOR THE PROPERTY LOCATED AT 1507 CROSBY LANE, IOWA CITY, IOWA.
WHEREAS, on August 8, 2001 the property owner of 1507 Crosby Lane, received a loan in the
amount of $4,$43 through the City's Housing Rehabilitation Program; and
WHEREAS, on January 31, 2002 the property owner received another loan in the amount of
$938.59; and
WHEREAS, the loans were paid off on October 4, 2002; and
WHEREAS, these documents created a lien against the property; and
WHEREAS, it is the City of Iowa City's responsibility to release this lien.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT: the Mayor is authorized to sign and the City Clerk to attest the attached
Release of Lien for recordation, whereby the City does re[ease the property located at 1507
Crosby Lane, Iowa City, Iowa from the Mortgage recorded on August 16, 2001, Book 3115,
Page 101 through Page 105; and from the Mortgage recorded on February 7, 2002, Book 3226,
Page 115 through Page 119 of the Johnson County Recorder's Office.
Passed and approved this 22nd dayof October .
Approved by
ATTEST:"~¢/~'.~..~.-~-) ~ //~.-t~
ClT~CCLERK City Attorney's Office
It was moved by Champion and seconded by 0'Donnell the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
× Vanderhoef
X Wilburn
ppdrehab/res/1507crosby-rel doc
Prepared by: Liz Osborne, CD Division, 410 E. Washington St., Iowa City, IA 52240 (~19)356-5246
RELEASE OF LIEN
The City of Iowa City does hereby release the property at 1507 Crosby Lane, Iowa City, Iowa,
and legally described as follows:
Lot 106 in Part Two, Hollywood Manor Addition to Iowa City, Iowa, according to '
the plat thereof recorded in Book 6, Page 74, Plat Records of Johnson County,
Iowa, subject to easements and restrictions of record
from an obligation of the property owner, Susan A. Henke, to the City of Iowa City in the total
amount of $5,781.59 represented by a Mortgage recorded on August 16, 2001, Book 3115,
Page 101 through Page 105,and a Mortgage recorded on February 7, 2002, Book 3226, Page
115 through Page 119 of the Johnson County Recorder's Office.
This obligation has been satisfied and the property is hereby released from any liens or clouds
upon title to the above property by reason of said prior recorded document.
Approved by
ATTEST: ~,~.~_~2
CITY"6LERK City Attorney's Office
STATE OF IOWA )
) SS:
JOHNSON COUNTY )
On this ~,,~ ,~ day of Oc-r~=~ , A.D. 20 o~, , before me, the undersigned, a
Notary Public in and for said County, in said State, personally appeared Ernest W. Lehman and
Marian K. Karr, to me personally known, who being by me duly sworn, did say that they are the
Mayor and City Clerk, respectively, of said municipal corporation executing the within and
foregoing instrument; that the seal affixed thereto is the seal of said corporation, and that the
instrument was signed .and sealed on behalf of the corporation by authority of its City Council, as
contained in Resolution No. ~, adopted by the City Council on the ~ el~ day
~',,s~ 20 ~ and that the said Ernest W. Lehman and Marian K. Karr as such officers
acknowledged the execution of said instrument to be the voluntary act and deed of said
corporation, by it and by them voluntarily executed.
ppdrehab/1507crosby-reLdoc., Nr~t=rv Public in and for Johnson County, Iowa
~ ~.lCommission Numba' 159791J
Prepared by: Liz Osborne, PCD, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5246
RESOLUTION NO. 02-364
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK
TO ATTEST TO THE RELEASE OF LIEN REGARDING AN ADDENDUM, A
REHABILITATION AGREEMENT, A PROMISSORY NOTE, LOW INTEREST'
LOAN, AND A MORTGAGE FOR THE PROPERTY LOCATED AT 814
BOWERY STREET, IOWA CITY, IOWA.
WHEREAS, on July 6, 1992, the owner of 814 Bowery Street executed an Addendum; and
WHEREAS, on July 10, 1992, the owner executed a Rehabilitation Agreement, a Promissory
Note, Low Interest Loan, and a Mortgage in the amount of $16,875; and
WHEREAS, the loan was paid off on September 5, 2002; and
WHEREAS, it is the City of Iowa City's responsibility to release this lien.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA that the Mayor is authorized to sign and the City Clerk to attest the attached
Release of Lien for recordation, whereby the City does release the property located at 814
Bowery Street, Iowa City, Iowa from an Addendum recorded on August 11, 1992, Book 1417,
Page 49 through Page 50; a Rehabilitation Agreement, Book 1417, Page 51 through Page 56;
a Promissory Note, Low Interest Loan, Book 1417, Page 57; and from a Mortgage, Book 1417,
Page 58 through Page 61 of the Johnson County Recorder's Office.
Passed and approved this 22nd day of October ,20 02
Approved by
ClT'Y'"GLERK City Attorney's Office
It was moved by Champi on and seconded by 0'Donne11 the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilburn
ppdrehab/res/814bowery-rel doc
Prepared by: Liz Osbome, CD Division, 410 E. Washington St., Iowa City, IA 52240 (319)356~5246
RELEASE OF LIEN
The City of Iowa City does hereby release the property at 814 Bowery Street, Iowa City, Iowa,
and legally described as follows:
The West 40 feet of the East 44 feet of Lot "O", in George H. Jerome's Addition
to Iowa City, Iowa, according to plat thereof recorded in Book 16, Page 219,
Deed Records of Johnson County, Iowa.
from an obligation of the owner, Margaret Elizabeth O'Connell, to the City of Iowa City in the
total amount of $16,875 represented by an Addendum recorded on August 11, 1992, Book
1417, Page 49 through Page 50; a Rehabilitation Agreement, Book 1417, Page 51 through
Page 56; a Promissory Note, Low Interest Loan, Book 1417, Page 57; and from a Mortgage,
Book 1417, Page 58 through Page 61 of the Johnson County Recorder's Office.
This obligation has been satisfied and the property is hereby released from any liens or clouds
upon title to the above property by reason of said prior recorded document.
MAYOR
Approved by
CITY ~EERK City Attorney's Office
STATE OF IOWA )
) SS:
JOHNSON COUNTY )
On this ~,,,o day of 7~c_-r~,~l~z. , A.D. 20 O~ , before me, the undersigned, a
Notary Public in and for said County, in said State, personally appeared Ernest W. Lehman and
Maclan K. Karr, to me personally known, who being by me duly sworn, did say that they are the
Mayor and City Clerk, respectively, of said municipal corporation executing the within and
foregoing instrument; that the seal affixed thereto is the seal of said corporation, and that the
instrument was signed and sealed on behalf of the corporation by authority of its City Council, as
~contained in Resolution No. _O~, adopted by the City Council on the o~ ,~ day
~20 0~- and that the said Ernest W. Lehman and Marian K. Karr as such officers
acknowledged the execution of said instrument to be the voluntary act and deed of said
corporation, by it and by them voluntarily executed.
Ppdrehab/814boweG'-~el.doc[.~., I SONDRAE ~Rffcary ~'ublic in and for Johnson Count, Iowa
F~'I MyCommi~n~i~s /
Prepared by: Ross Spitz, Civil Engineer, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5149
RESOLUTION NO, 02-365
RESOLUTION ACCEPTING THE WORK FOR THE FIRST AVENUE
CORRIDOR IMPROVEMENTS PROJECT,
WHEREAS, the Engineering Division has recommended that the work for construction of the First
Avenue Corridor Improvements Project, as included in a contract between the City of Iowa City
and L.L. Pelling Company of North Liberty, Iowa, dated May 30, 2002, be accepted; and
WHEREAS, the Engineer's Report and the performance and payment bond has been filed in the
City Clerk's office; and
WHEREAS, the final contract price is $513,389.34.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT said improvements are hereby accepted by the City of Iowa City, Iowa.
Passed and approved this 22nd dayof 0ct.oJ~e~ ,20 02
Approved by
ATTEST:~'/')~..~Ci.f~LERK ~ ~-'~'~ Of{~~
It was moved by Champion and seconded by 0'Donne] ] the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
× Wilburn
10/02
Prepared by: Denny Gannon, Asst. City Engineer, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5142
RESOLUTION NO. 02-366
RESOLUTION ACCEPTING WORK FOR THE SANITARY SEWER PUBLIC
IMPROVEMENTS FOR DUCK CREEK CONDOMINIUMS, AND DECLARING
PUBLIC IMPROVEMENTS OPEN FOR USE,
WHEREAS, the Engineering Division has certified that the following improvements have been
completed in accordance with the plans and specifications of the City of Iowa City,
Sanitary sewer improvements for Duck Creek Condominiums, as constructed by Fisher
Excavating, Inc. of Cedar Rapids, Iowa.
WHEREAS, a maintenance bond has been filed in the City Clerk's Office.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
Said public improvements are hereby accepted by the City of Iowa City, Iowa, and the public
improvements hereby formally accepted and declared open for use.
Passed and approved this 22nd day of 0c,;b~ber ,20 02
A~-fEST: <~ ~.
CITY"G-LERK ' - -
It was moved by Champion and seconded by 0'Donne]] the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilburn
pweng',res~uckcceek doc
ENGINEER'S REPORT
October 14, 2002
Honorable Mayor and City Council
Iowa City, Iowa
Re: Duck Creek Condominiums
Honorable Mayor and Councilpersons:
I hereby certify that the construction of the sanitary sewer improvements for Duck Creek
Condominiums has been completed in substantial accordance with the plans and specifications
of the Engineering Division of the City of Iowa City. The required maintenance bond is on file in
the City Clerk's Office for the sanitary sewer improvements constructed by Fisher Excavating,
Inc. of Cedar Rapids, Iowa.
I recommend that the above-referenced improvements be accepted by the City of Iowa City.
Sincerely,
Richard Fosse, P.E.
City Engineer
pweng/Itrs/rf-duckcreek doc
410 EAST WASHINGTON STREET · IOWA CITY, IOWA 52240- 1826 · (319) 356-5000 · FAX (319) 356 5009
Prepared by: Shelley McCafferty, PCD, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5243 (SUB02-00014)
RESOLUTION NO. 02-367
RESOLUTION APPROVING FINAL PLAT OF WINDSOR RIDGE PART SIXTEEN, IOWA
CITY, IOWA, A RESUBDIVlSlON OF A PORTION OF LOT A, WINDSOR RIDGE PART
FITEEEN, AND OUTLOT A, STONE BRIDGE ESTATES PART ONE, IOWA CITY, IOWA.
WHEREAS, the owner, Arlington, L.C., filed with the City Clerk the final plat of Windsor Ridge Part
Sixteen, Iowa City, Iowa, A Resubdivision of a Portion of Lot A, Windsor Ridge Part Fifteen, and
Outlot A, Stone Bridge Estates Part One, Iowa City, Iowa, Johnson County, Iowa; and
WHEREAS, said subdivision is located on the following-described real estate in Iowa City, Johnson
County, Iowa, to wit:
Beginning at the Northeast Corner of Lot 258 of Windsor Ridge - Part Fifteen, in accordance
with the Plat thereof Recorded in Plat Book 41, at Page 212, of the Records of the Johnson
County Recorder's office; Thence N64°d45'03"W, along the North Line of said Lot 258, a
distance of 300.29 feet; Thence N16°d23'49"E, 93.02 feet; Thence Northwesterly, 49.33 feet,
along a 725.00 foot radius curve, concave Southwesterly, whose 49.32 foot chord bears
N75°d33'08'~/V; Thence N12°d29'54"E, 59.01 feet; Thence Northeasterly, 173.66 feet, along a
350.00 foot radius curve, concave southeasterly, whose 171.89 foot chord bears
N26"d42'47"E; Thence Northeasterly, 108.53 feet, along a 150.15 foot radius curve, concave
Northwesterly, whose 106.18 foot chord bears N20°d13'15"E; Thence N00°d29'10'~/, 168.76
feet; Thence N89°d30'50"E, 108.24 feet; Thence S63°d18'16"E, 136.28 feet; Thence
N89°d30'50"E, 129.95 feet, to a Point on the West Line of Stone Bridge Estates, Part Two, in
accordance with the Plat thereof Recorded in Plat Book 44 at Page 56 of the Records of the
Johnson County Recorder's Office; Thence S00°d29'10"E, along said West Line, 12.00 feet to
the Southwest Corner thereof, and the Northwest Corner of Outlot "A" of Stone Bridge
Estates, Part One, in accordance with the Plat thereof recorded in Plat Book 43, at Page 143
of the Records of the Johnson County Recorder's Office; Thence N89°d30'50"E, along the
North Line of said Outlot "A", 117.27 feet, to the Northeast Corner thereof; Thence
S00°d29'10"E, along the East Line of said Outlot "A", 240.00 feet; Thence S06°d15'51"W,
along said East Line, 45.84 feet; Thence S19°d38'24'~/V, along said East Line, 45.00 feet;
Thence S32°d53'30'~/V, along said East Line, 45.00 feet; Thence S46°d08'36'~/, along said
East Line, 45.00 feet; Thence S53°d10'33WV, along said East Line, 45.85 feet; Thence
S23°d58'45"E, along said East Line, 120.00 feet to the Southeast Corner thereof; Thence
Southwesterly, 102,89 feet, along the South Line of Said Outlot "A", and the South Line of Lot
"A" of said Windsor Ridge - Part Fifteen, on a 320.00 foot ~adius curve, concave Northwesterly,
whose 102.45 foot chord bears S75°d13'56"W; Thence S84°d26'38"W, along the South Line
of said Lot "A", 74.25 feet; Thence Northwesterly, 32.95 feet, along said South Line, on a 25.00
foot radius curve, concave Northeasterly, whose 30.62 foot chord bears N57°d47'42WV;
Thence S69°d57'59"W, along said South Line, 55.00 feet; Thence Southeasterly, 70.22 feet,
along said South Line, on a 120.00 foot radius curve, concave Southwesterly, whose 69.22
foot chord bears S03°d16'12"E, to the Point of Beginning. Said Tract of land contains 6.94
acres, more or less, and is subject to easements and restrictions of record.
WHEREAS, the Department of Planning and Community Development and the Public Works
Department examined the proposed final plat and subdivision, and recommended approval; and
WHEREAS, the Planning and Zoning Commission examined the final plat and subdivision and
recommended that said final plat and subdivision be accepted and approved; and
000838
Resolution No. 02-367
Page 2
WHEREAS, a dedication has been made to the public, and the subdivision has been made with the
free consent and in accordance with the desires of the owners and proprietors; and
WHEREAS, said final plat includes the resubdivision of a portion of Lot A, Windsor Ridge Part
Fifteen, and Outlot A, Stone Bridge Estates Part One, and certain easements granted to the City in
connection therewith will no longer be necessary and should be released; and
WHEREAS, said final plat and subdivision are found to conform with Chapter 354, Code of Iowa
(2001) and all other state and local requirements..
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA, THAT:
1. The said final plat and subdivision located on the above-described real estate be and the
same are hereby approved.
2. The City accepts the dedication of the streets and easements as provided by law and
specifically sets aside portions of the dedicated land, namely streets, as not being open for
public access at the time of recording for public safety reasons.
3. The Mayor and City Clerk of the City of Iowa City, Iowa, are hereby authorized and directed,
upon approval by the City Attorney, to execute all legal documents, including releases of
easements, relating to said subdivision, and to certify a copy of this resolution, which shall be
affixed to the final plat after passage and approval by law. The City Clerk shall record the
legal documents and the plat at the office of the County Recorder of Johnson County, Iowa at
the expense of the owner/subdivider.
Passed and approved this 22 day of.~_.~.~ ,~;~ .~
MAYOR-
SEAL Approved by
CITY'~'~ERK C~ity Attorney's Office
It was moved by Vanderhoef and seconded by 0'Dgpnell the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
YYJO AWO! OT ~,,~UT~.~! Vanderhoef
~,~;.~J 3 YTg~ Wilbum
mi[ch/Bl$indsor ridge, 5/resolution re final plat 000839
Prepared by: SheLley McCaffedy, PCD, 410 E. Washington St., Iowa City, LA 52240 (319) 356-5243 (SUB02-00~¢4)
'~SO RESOLUTION NO. 02-367
LUTION APPROVING FINAL PLAT OF WINDSOR RIDGE PART SIXT/EEN, IOWA
CITY~,~IOWA, A RESUBDIVlSION OF A PORTION OF LOT A, WINDSOR/RIDGE PART
FITEEE~, IOWA CITY, IOWA.
WHEREAS, the~ner, Arlington, L.C., filed with the City Clerk the final pfC/of Windsor Ridge Part
Sixteen, Iowa ~ty, lo. wa, A Resubdivision of a Portion of Lot A, WindsojCPJdge Part Fifteen, Iowa
City, Iowa, Johnson CG'u~ty,,., Iowa; and j/
WHEREAS, said subdivision, is located on the following-described r¢~l estate in Iowa City, Johnson
County, Iowa, to wit:~
Beginning at the Northeast C~mer of Lot 258 of Windsor R - Part Fifteen, in accordance
with the Plat ther,eof Recorded i~Blat Book 41, at Page of the Records of the Johnson
County Recorders office; Thence %N64°d45'03"W,__ alo~ the North Line of said Lot 258, a
distance of 300.29 feet; Thence N16~d23'49"E, Thence Northwesterly, 49.33
feet,
along a 72,5..00 foot radius ~curv,e,, cd%cave whose 49.32 foot chord bears
N75°d33'08 W; Thence N12 d29 54"E, 5§,01 feet; Northeasterly, 173.66 feet, along a
350.00 foot radius curve, concave whose 171.89 foot chord bears
N26°d42'47"E; Thence Northeasterly, a 150.15 foot radius curve, concave
Northwesterly, whose 106.18 foot chord bear ~0°d13'15"E; Thence N00°d29'10"W, 168.76
feet; Thence N89°d30'50"E, 108.24 S63°d18'lG"E, 136.28 feet; Thence
N89°d30'50"E, 129.95 feet, to a Point on ne of Stone Bridge Estates, Part Two, in
accordance with the Plat thereof Reco~ in Plat ,k 44 at Page 56 of the Records of the
Johnson County Recorder's Office; TI along said West Line, 12.00 feet to
the Southwest Corner thereof, ar Northwest er of Outlot "A" of Stone Bridge
Estates, Part One, the Plat thereof in Plat Book 43, at Page 143
of the Records of the Johnson Recorder's ~ence N89°d30'50"E, along the
North Line of said Outlot 117.27 feet, to the ~ast Corner thereof; Thence
S00°d29'10"E, along the Ea Line of said Outlot "A", Thence S06°d15'51"W,
along said East Line, 45. feet; Thence S19°d38'24"W, alon East Line, 45.00 feet;
Thence S32°d53'30"W said East Line, 45.00 feet; Thence S~6°d08'36"W, along said
East Line, 45.00 feet S53°d10'33"W, along said East Lir~, 45.85 feet; Thence
S23°d58'45"E, along East Line, 120.00 feet to the Southeast Cbr~ner thereof; Thence
Southwesterly, 102. ;] the South Line of Said Outlot "A", and the South Line of Lot
"A" - Part Fifteen, on a 320.00 foot radius curve, con~:~ve Northwesterly,
whose 102.45 chord bears S75°d13'56"W; Thence S84°d26'38"W, alOnq the South Line
of said Lot "A", feet; Thence Northwesterly, 32.95 feet, along said South Line, on a 25.00
foot radius concave Northeasterly, whose 30.62 foot chord bears N?°d47'42"W;
Thence 96.( g said 9outh Line, 55.00 feet; Thence Southeasterly,,,70.22 feet,
along sai( Line, on a 120.00 foot radius curve, concave Southwesterly, wrie, se 69.22
foot chol S03°d16'12"E, to the Point of Beginning. Said Tract of land contains 6.94
acres and is subject to easements and restrictions of record.
WF the Department of Planning and Community Development and the Public'~Norks
Depa~ ~d the proposed final plat and subdivision, and recommended approval; and
the Planning and Zoning Commission examined the final plat and subdivision and~
recommended that said final plat and subdivision be accepted and approved; and%
Resolution No. 02-367
Page 2
WHEREAS, a dedication has been made to the public, and the subdivision has beer~ made with the
free consent and in accordance with the desires of the owners and proprietors; and
WHEREAS, said final plat includes the resubdivision of a portion of Lot A, windsor Ridge Part
Fifteen, and ,certain easements granted to the City in connection therewith will no longer be
necessary an'~should be released; and
WHEREAS, sai~ final plat and subdivision are found to conform 354, Code of Iowa
(2001) and all othb~state and local requirements.
NOW, THEREFORE,~BE IT RESOLVED BY THE CITY COUN* _ OF THE CITY OF IOWA CITY,
IOWA, THAT:
1. The said final pla~-and subdivision located on the real estate be and the
same are hereby approved.
2. The City accepts the (~dication of the and easements as provided by law and
specifically sets aside portto.ns of the land, namely streets, as not being open for
public access at the time of reCOrding reasons.
3. The Mayor and City Clerk of the'C!ty Iowa, are hereby authorized and directed,
upon approval by the City execute all legal documents, including releases of
easements, relating to said and to certify a copy of this resolution, which shall be
affixed to the final plat after pass~ approval by law. The City Clerk shall record the
legal documents and the plat County Recorder of Johnson County, Iowa at
the expense of the ownedsubdi
Passed and approved this
Appr~ed by
Ci{y A~orneCs~Offic~
It was moved Vandef'hoef and seconded by O'Donne] ] %',, the Resolution be
adopted, and there were:
AYES: NAYS: ABSENT:
)~ Champion
X Kanner
X Lehman
X O'Donnell
X Pfab '%...
X Vanderhoef
X Wilburn
STAFF REPORT
To: Joint Staff Prepared by: Shelley McCafferty
Item: SUB02-00014 Date: October 3, 2002
GENERAL INFORMATION:
Applicant: Arlington, LC
2346 Mormon Trek Blvd.
Iowa City, IA 52246
Contact Person: MMS Consultants, Inc.
1917 South Gilbert Street
Iowa City, IA 52240
351-8282
Requested Action: Approval of final plat
Purpose: To create a 5-lot residential subdivision
Location: Intersection of Ashford Place & Camden Road
Size: 6.94 acres
Existing Land Use and Zoning: OPDH-8
Surreunding Land Use and Zoning: North: OPDH-8, undeveloped
South: County, Single Family Residential
East: RS-5, Low-Density Single-Family
Residential
West: OPDH-8, undeveloped
Comprehensive Plan: 2-8 dwelling units per acre
File Date: August 29, 2002
45-Day Limitation Period: October 10, 2002
BACKGROUND INFORMATION:
The applicant, Arlington L.C., is requesting approval of the final plat of Windsor Ridge Pad 16, lots
260-263 and Outlot B. This subdivision is 3.94 acres of the 31.1-acre Windsor Ridge Parts 16-20
subdivision. The preliminary plat and OPDH plan for Windsor Ridge Parts 16-20 was approved by
Council on September 10.
2
ANALYSIS:
The final plat as submitted is in general conformance with the approved preliminary plat.
Construction plans have been submitted and are being reviewed by the City Engineer. Legal
papers have also been submitted for review by the City Attorney and Engineer. Prior to Council
consideration of the final plat, staff must approve construction plans and legal documents.
Fees are required for the improvement of Lower West Branch Road for 2.59 acres at $3,122
per acre. This should be addressed in the legal papers.
STAFF RECOMMENDATION:
Staff recommends that SUB02-00014, a final plat of Windsor Ridge Part 16, a 6.94-acre, 5-lot
residential subdivision located at the intersection of Ashford Place & Camden Road be
approved subject to staff approval of legal papers and construction drawing prior to City Council
consideration.
ATTACHMENTS:
1. Location map
2. Final plat
Approved by: '/~'~-~
Robert Miklo, Senior Planner,
Department of Planning and Community Development
October 14, 2002
The Honorable Carol Thompson, Chair
Johnson County Board of Supervisors
913 S. Dubuque Street
Iowa City, IA 52240
Re: CZ02-012, Application for a rezoning from Al, Rural to CP2, Planned Commercial,
for 54.8 acres of property located on the south side of Herbert Hoover Highway,
west of Interstate-80
Dear Carol:
Johnson County has received an application from BOAH L.C. for a rezoning from Al,
Rural, to CP2, Planned Commercial, for 54.8 acres of property located on the south side
of Herbert Hoover Highway, west of Interstate-80.
At its October 3 meeting, by a vote of 7-0, the Planning and Zoning Commission
recommended that the City Council forward a letter to the Board of Supervisors finding
that the proposed rezoning is in conformance with the Fringe Area Agreement. The
Commission further recommended that an agreement be reached with the property
owner regarding the construction of turning lane improvements to Herbert Hoover
Highway necessary to serve future commercial development on the property, and that
more information be given assuring there will be adequate wastewater treatment to
support commercial development, prior to the property being rezoned.
In 2000, the Fringe Area Agreement was amended to include consideration of rezonings
to CP2, Planned Commercial for the land around the Herbert Hoover Highway /
Interstate-80 interchange. The property requested for rezoning to CP2 is consistent with
the area shown as future commercial on the Fringe Area Land Use Map. It is
understood that properties zoned to CP2 will conform to the CP2 site plan requirements,
with the addition of the Fringe Area standard that all parking areas will be constructed of
asphalt or Portland Cement Concrete.
The City's concern is not related to whether or not this property should be zoned CP2, it
is whether the rezoning is premature given the existing infrastructure to serve the
property. Similar to the turning lane requirements associated with the commercial
rezoning on the north side of Herbert Hoover Highway that resulted in the Gateway
development, the property owner in this case should be required to pay for turning lane
improvements necessary to serve future development on this property.
Regarding wastewater treatment, the property owner's representative informed the
Commission that no specific wastewater treatment is being proposed at this time,
410 EAST WASHINGTON STREET · IOWA CITY, [OWA $2240~ 1826 * (319) 356-5000 · FAX (319) 356-5009
because no specific land uses are yet identified. The property owner's representative
also informed the Commission that development on a portion of this property may be
able to use the Gateway wastewater lagoons on the north side of Herbert Hoover
Highway, though it would depend on financial and capacity issues at the time of
development. The City Council feels that without an analysis of the property's
topography and soils to determine the appropriate location and type of wastewater
treatment, and a commitment from the property owner to construct said treatment, this
rezoning may be premature. It is appropriate to require a single community wastewater
treatment facility for the property, as was done with the Gateway Development, rather
than numerous individual septic systems as the property is developed over time.
Based on the above reasoning, Council agrees with the finding from the Planning and
Zoning Commission that the proposed rezoning is consistent with the Fringe Area
Agreement between Iowa City and Johnson County. The Council recommends,
however, that an agreement be reached with the property owner regarding turning lane
improvements to Herbert Hoover Highway necessary to serve future development on the
property, and for the property owner to analyze the needs of and commit to installing a
community wastewater treatment facility, prior to the rezoning being approved. Without
such agreements from the property owner to provide adequate infrastructure for
commercial development on the property, this rezoning may be premature.
As always, thank you for the opportunity to review this rezoning application.
Sinc. p~ely,
~-rnest W Lehman
Mayor
T:\shared\pcd\cz02012 letter.doc
Cit of
Octobor 14, 2002
The Honorable Carol Thompson, Chair
Johnson Jnty Board of Supervisors
913 S. e Street
Iowa City, IA
Re: CZ02-012 )lication for a rezoning from Al, Rural to' Planned Commercial,
for 54.8 property located on the south side Herbert Hoover Highway,
west 80
Dear Carol:
Johnson County has an application from L.C. for a rezoning from Al,
Rural, to CP2, Planned for 54.8 acre= property located on the south side
of Herbert Hoover Highway,
At its October 3 meeting, by of Planning and Zoning Commission
recommended that the City forward the Board of Supervisors finding
that the proposed rezoning is in with the Fringe Area Agreement. The
Commission further recommended agreement be reached with the property
owner regarding the construction of ning lane improvements to Herbert Hoover
Highway necessary to serve future 9rcial development on the property, and that
more information be given assuring will be adequate wastewater treatment to
support commercial development, pri, )roperty being rezoned.
In 2000, the Fringe Area Agreeme~ to include consideration of rezonings
to CP2, Planned Commercial the land and the Herbert Hoover Highway /
Interstate-80 interchange. The I: ' ~g to CP2 is consistent with
the area shown as future ~mercial on the ~ge Area Land Use Map. It is
understood that properties the CP2 site plan requirements,
with the addition of the Fring~ standard that all ~ng areas will be constructed of
asphalt or Portland Cement,
The City's concern is not ~ ~ted to whether or not this should be zoned CP2, it
is whether the rezonir premature given the existing to serve the
property. Similar to turning lane requirements with the commercial
rezoning on the nortl side of Herbert Hoover Highway that ~lted in the Gateway
development, the arty owner in this case should be required for turning lane
improvements 3/to serve future development on this property.
Regarding wastewater treatment, the property owner's representative informed the
Commission that no specific wastewater treatment is being proposed at this time,
410 EAST WASHINGTON STREET · IOWA CITY, IOWA 52240-1826 · (319) 356-5000 · FAX (319) 356-5009
because no specific land uses are yet identified. The property owner's representative
also informed the Commission that development on a portion of this property may be
able to use the Gateway wastewater lagoons on the north side of Herbert Hoover
Highway, though it would depend on financial and capacity issues at the time of
development. The City Council feels that without an analysis of the property's
topography and soils to determine the appropriate location and type .ef wastewater
treatment, and a commitment from the property owner to construct this
rezoning may be premature. It is appropriate to require a single wastewater
treatment for property, as was done with the Gatewa ~ment, rather
than numerous eptic systems as the property over time.
Based on the above g, Council agrees with the fin( from the Planning and
Zoning Commission that ~roposed rezoning is with the Fringe Area
Agreement between Iowa and Johnson County. Council recommends,
however, that an agreement with the owner regarding turning lane
improvements to Herbert Hoove lighway future development on the
property, and for the ~r to analyze theand commit to installing a
community wastewater treatment ~cility, prior being approved. Without
such agreements from the owner ~rovide adequate infrastructure for
commercial development on the this be premature.
As always, thank you for the opportu rezoning application.
Sincerely,
Ernest W Lehman
Mayor
T:\shared\pcd\cz02012 letter.doc
City of Iowa City
MEMORANDUM
DATE: September 26, 2002 (for October 3 meeting)
TO: Planning and Zoning Commission
FROM: John Yapp, Associate Planner
RE: CZ02-012 Proposed rezoning from A1 to CP2 for 54.8 acres of property
located within Johnson County on the south side of Herbed Hoover
Highway, west of Interstate-80
The applicant, BOAH L.C., has submitted an application to Johnson County to rezone
54.8 acres from Al, Agricultural, to CP2, Planned Commercial, for 54.8 acres of property
located on the south side of Herbert Hoover Highway, west of Interstate-80. The
properly is in Fringe Area B of the Fringe Area Agreement between Johnson County and
Iowa City. The Johnson County / Iowa City Fringe Area Agreement provides the City
with the opportunity to review and comment on proposed rezonings within the two-mile
fringe area prior to consideration of the rezoning by the Johnson County Planning and
Zoning Commission and Board of Supervisors.
In 2000, the Fringe Area Agreement was amended to include, among other changes,
consideration of rezonings to County CP2 for the land around the Herbert Hoover
Highway / Interstate-80 interchange. The Fringe Area Agreement states:
Given the existence of commercially zoned property and the demand for
commercial uses at the Interstate-80 / Herbert Hoover Highway interchange,
rezonings to County CP2 (Planned Commercial) of property abutting the
interchange, as shown on the Land Use Plan attached, will be considered. All
existing commercially zoned property and any properties rezoned to CP2 shall be
subject to the County's Site Plan Review Requirements with the following
exception: all parking areas shall be constructed of asphalt or portland cement
concrete (PCC).
The area proposed for rezoning is identified on the Fringe Area Map as commercial
development. Two smaller areas of property at the northwest and southeast of the area
proposed for CP2 development are currently zoned CH, Highway Commercial.
Planned Commercial, CP2, Zone
No specific land use is currently being proposed for this property. However, before land
can be developed in the Planned Commercial, CP2 zone, a site plan needs to be
approved by the Board of Supervisors with a recommendation from the County Planning
and Zoning Commission. The site plan is required to illustrate the specific location of
buildings, access points, interior streets and walkways, utilities, signs, and the location
September 26, 2002
Page 2
and method of screening between the development area and adjoining land uses. The
CP2 zone contains some requirements for screening between the CP2 development and
adjacent agricultural or residential land uses, including evergreen screening or other
plant material as approved on the site plan. The Fringe Area Agreement requires all
parking areas at this location to be asphalt or concrete.
The Fringe Area Agreement and the CP2 zone require review of a development project
before building permits can be issued. For any development project larger than two
acres, the City and County each review the site plans in accordance with the procedural
requirements of each jurisdiction. The site plan standards applied would be the County
standards. Therefore, for any development larger than two acres in the Fringe Area,
City and County staff will review the site plans. Propedies being developed in the CP2
zone are required to have their site plans approved by the Board of Supervisors, upon
receiving a recommendation from the Johnson County Planning and Zoning
Commission, which is a more public level of review than the staff review.
Wastewater Treatment
The CP2 zone allows a variety of commercial uses including restaurants, filling stations
and truck terminals, auto and farm implement sales, warehouse and distribution
facilities, meeting halls, religious institutions, office uses, building supply and similar
uses. Some of these uses can generate a significant amount of traffic, and can require
considerable investment in wastewater treatment facilities. The Johnson County Health
Department has been notified of the rezoning request, and will need to approve a
proposed treatment system prior to development occurring. The properly owner, at this
time, does not have a specific proposal for how and where wastewater treatment is to be
done. Staff recommends that Johnson County receive more information from the
property owner regarding the potential for wastewater treatment on this property given
it's topography and soil types prior it being rezoned. We do not believe it would be
appropriate to rezone such a large parcel of property for commercial uses without some
assurances that adequate wastewater treatment can be provided.
Traffic Issues
Access to the property is proposed to be via an existing access point on the CH-property
which fronts on Herbert Hoover Highway. No turning lanes or other improvements to
Herbert Hoover Highway are proposed at this time. Because of the high speed of traffic
on this portion of Herbert Hoover Highway and the close proximity of the Interstate-80
entrance and exit ramps, staff feels it would be prudent to require the construction of
turning / deceleration lanes from both directions before commercial development is
permitted on this property. Some of the commercial uses permitted in the CP2 zone
such as restaurants, filling stations, and distribution facilities have the potential to
generate large amounts of traffic, including a high percentage of truck traffic. Requiring
the property owner to install the road infrastructure to allow traffic to safely enter the
property will minimize the chance that the public will have to pay for these improvements
to Herbert Hoover Highway at a later date.
September 26, 2002
Page 3
STAFF RECOMMENDATION:
Staff recommends that the City Council send a letter to the Johnson County Board of
Supervisors finding that the proposed rezoning is in conformance with the Fringe Area
Agreement and therefore recommends approval provided that an agreement be reached
with the property owner regarding the construction of turning lane / deceleration lane
improvements to Herbert Hoover Highway necessary to serve future development on
this property, and that more information be given assuring adequate wastewater
treatment on the property, prior to it being rezoned to CP2, Planned Commercial.
ATTACHEMENTS:
1. Location Map
2. Letter from applicant's engineer
3. Fringe Area Map
Approved by: ~'/~
Robert Miklo, Senior Planner,
Department of Planning and Community Development
Memo
To: Mr. John Yapp
Mr. R.J. Moore
From: Doug Frederick, PE, PLS
CC: [Click here and type name]
Date: 09/25/02
Re: BOAH, Inc. rezoning request
Dear John & R.J. - Questions have been posed regarding access and sewage treatment for this
rezoning request. At this time there is an existing drive into the property currently zoned CH. This drive
is approximately 353 feet East of the West property line and is at approximately Station 168+73.
According to my measurements this drive would meet the County site distance standards as it is a
county road. This driveway was upgraded in 1976 when the road was still a state highway from a type
C access to a type B. I know that this drive was moved slightly during the reconstruction of Herbert
Hoover Highway as I was at that time with the County and was on site during much of the construction.
The property within the rezening request would need te enter through the area currently zoned CH as it
appears from information contained with the Plat of Gateway First Addition that the IDOT owns access
control from a point approximately 90 East ef the existing drive on to the East.
The question of sewage treatment is one that will need to be considered according to the rules and
regulations of the Johnson County Health Department and/or the Iowa Department of Natural
Resources. It is unclear at this time to the numbers and/or types of uses within the CP2 zoning that will
be built on this site. This will obviously dictate the type(s) of system(s) that would be required. It is my
understanding that there have been some conversations between BOAH, Inc. and Gateway in the past
regarding using Gateway's treatment facility but to my knowledge nothing pro or con has been decided.
if you have further questions please feel free to contact our office.
Respectfully,
Doug Frederick
i0/0S/02 THU 15:17 FAX 254 9602 Canon [~002
711 $, Gilher~
IOWACITY, IOWA 52240
PHONE (319) 354-2233
FAX (319} 354-9602
October 3, 2002
R,J. Moore, Assistant Admin/sttator
Johnson County PlarmJng and ZOning C:OP l¢
913 S. Dubuque Street
Iowa City, LA 52240
Re: BOAH, L.C. Request forZon/ng "'
Mr. Moore,
Attached is a copy cfa fax from Jeny Eyman, owner o£th¢ Gateway Ltd. wastewater
treatment lagoon. ~n this fax, Mr. Eyman acknowledges that BOAH, L.C. has contacted
h~m regard/rig possible comaection/serv/ce. The Gateway lagoon has about 55,000-gpd
excess capacity, Based on IDN'R design standards of 5,000 gpd/Acres, this excess
capacity could allow for just over 10 Acres of commercial land use. It may be possible to
design a sewer connection at a reduced gpd/Acre, but it seems unlikely that the current
Gatewayfiagoon ~/1l be sufficient to serve al/o£the BOAH commercial property.
rt is our position that we will continue to d/scuss coordination with Gateway, but any
final design w/ll depend on actual develol:cnents on the property.
As for the improvements to Herbert Hoover H/ghway, we propose that BOAH, L.C. enter
into.a binding agTeement w/th Johnson County rather establish an escrow account. The
agreement would require establiskment of an escrow account or some other security
before any building peru* it ks issue&
We have author/zed our attorney, Ms. Kirsten Frey (Tel: 351-8181) to meet with Johnson
County officials to d/scuss this issue and agree upon the verbiage.
pleaSe contact me with any questions regarding this informahon.
Sincerely,
'Michael E./~dg'e, .Manager
BOA/-/,
cc: lqart-Fredlfick Consultants, City of Iowa City- Community Development
OCT. B.£OOE
October 2002
To whom it may concern:
This leHer is to confirm that on Wednesday, October 2, Z002, I spoke with
.- Mike Hodge, Dean Ookes and Bob Barker r~ardi~ the proper~ th~ are
attempting to rezone from A-1 ?o CP~ loc~ in the North~st ~ of Section
8, Township 78 No~h, ~e 5 We~ of the 5~ P.M, ~ohnson ~oun~, Iowa.
buring the phone Conversation, w~ discu~ed the w~ewater tre~ment
fac~l~ constructed ~n my develepm~nt ~is lagoon ~em has a current
~ces~ ca~ci~ of ~pproximately ~5,000 gallons p~ day. We agreed That
?his ~c~s capaci~ might be o~ilable for uses oth~ th~n my current and
futur~ developments and that n~otiatlo~ for that ~c~ c~ci~ could be
opened aT some point with BOAH, L.C. when their needs ~re deteemin~.
Z will be available To discuss this ~er fuethe~ with BOAH, L.C, in the
futqre.
COPY
'hone e Phone
Form 653 C Page 2
CITY BUDGET AMENDMENT AND CERTIFICATION RESOLUTION
To the Auditor of Johr~ofl County. iowa;
The Council o[ the City of lew~ City. in Sai(I County met on October 8. ZR02. at the place a~d hour set in the
,ESOtRT~ON NO. 0 2 - 3 6 8
I
Transler$ Out 23 36.462.362 39,674.267 76.136.629
Beglnning Fund B,lance July I 26 75.695.917 25.665.00§ 101.360.917
Resolution No. 02-368
Page 2
It was moved by Champion and seconded by 0'Donne11 the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X . Champion
X Kanner
;{ Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilbum
October 22 ',2002
The City Council of Iowa City, Iowa, met in special session, in the Emma
J. Harvat Hall, Civic Center, 410 E. Washington Street, Iowa City, Iowa, at 7: 00
o'clock P.M., on the above date. There were present Mayor
Lehman _, in the chair, and the following named Council Members:
Champion, Kanner. Lehman. O'Donpell. Vanderhoef,
Wilburn
Absent: Pfab
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Council Member Champion moved that the forrn of Tax
Exemption Certificate be placed on file and approved. Council Member
Wnderhoef seconded the motion. The roll was called and the vote
wasp
AYES: £ham.n~nn: Kannor: I phman: fllllnnnpll:
Vanderhoef. gJlburn
NAYS: None
Council Member Champi on moved that the form of
Continuing Disclosure Certificate be placed on file and approved. Council Member
0' Donnel 1 seconded the motion. The roll was called and the vote
WaSp
AYES: Champion. Kanner. I~hman. II'llnnn~ll.
Vanderhoef, Wilburn
NAYS: None
Council Member 0' Donnel 1 introduced the following
Resolution entitled "RESOLUTION AUTHORIZING AND PROVIDING FOR THE
ISSUANCE OF $10,600,000 GENERAL OBLIGATION REFUNDING BONDS AND
LEVYING A TAX TO PAY SAID BONDS" and moved that it be adopted. Council
Member Champi on seconded the motion to adopt, and the roll being
called thereon, the vote was as follows:
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AmS: Lehman, O'Donnell, Vand~rhoef. Wilbur'n. "
Champio% Kanner
NAYS: Nnn~ ..
ABSENT: Pfab
Whereupon, the Mayor declared said Resolution duly adopted as follows:
Resolution No. 02-369
RESOLUTION AUT}-I'ORIZ~G AND PROVIDING FOR THE
ISSUANCE OF $10,600,000 GENERAL OBLIGATION
REFUNDING BONDS AND LEVYING A TAX TO PAY
SAID BONDS
WHEREAS, the Issuer is duly incorporated, organized and exists under and by
virtue of the laws and Constitution of the State of Iowa; and
WHEREAS, the Issuer is in need of funds to pay costs of refunding outstanding
general obligation indebtedness of the City, including General Obligation Bonds, Series
1994 and 1995 and Capital Loan Notes, Series 1992, an essential corporate purpose, and
it is deemed necessary and advisable that General Obligation Refunding Bonds in the
amount of $6,390,000 be issued for said purpose to accomplish a current refunding; and
WHEREAS, the City is in need of funds to pay costs of adjusting and refunding
existing general obligation indebtedness of the City as is mOre fully set forth in the
schedule of Bonds to be advance refunded, hereinafter set forth as Exhibit "A", attached
to this resolution, and it is deemed necessary and advisable that said City should issue
General Obligation Refunding Bonds to the amount of $4,210,000 for said purpose; and
WHEREAS, it is found and determined that the aforesaid adjustment and
refunding of present indebtedness is necessary and in the public interest and will benefit
the City and its taxpaYers by restructuring one (1) outstanding issue of bonds for purposes
of more efficient administration thereof; by conforming the debt service requirements to
the anticipated receipt of tax funds thereby reducing the impact of delays in the collection
of future taxes upon the City's cash flow; and to adjust the requirements of the
outstanding indebtedness so as to facilitate the orderly retirement of bonds anticipated to
be issued for future capital improvements; and
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WHEREAS, it presently appears that the aforesaid benefits may be realized and at
the same time savings may be effected in the debt service fund requirements of the City by
refunding of the bonds set forth in the schedule set forth as Exhibit "A", attached to this
Resolution and made a part hereof by this reference; and
WHEREAS, pursuant to notice published as required by Section 384.25 of said
Code, this Council has held a public meeting and hearing upon the proposal to institute
proceedings for the issuance of $10,980,000 Bonds, and the Council is therefore now
authorized to proceed with the issuance of $10,600,000 Bonds; and
WHEREAS, pursuant to the provisions of Chapter 75 of the Code of Iowa, the
above mentioned bonds were heretofore sold at public sale and action should now be
taken to issue said bonds conforming to the terms and conditions of the best bid received
at the advertised public sale:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF IOWA CITY, IOWA:
Section I. Definitions. The following terms shall have the following meanings in
this Resolution unless the text expressly or by necessary implication requires otherwise:
"Advance Refunded Bonds" shall mean $3,900,000 of the
$6,100,000 General Obligation Bonds, Series 1996, dated March 15, 1996.
"Authorized Denominations" shall mean $5,000 or any integral
multiple thereof.
"Beneficial Owner" shall mean the person in whose name such Bond
is recorded as the beneficial owner of a Bond by a Participant on the records of
such Participant or such person's subrogee.
"Bonds" shall mean $10,600,000 General Obligation Refunding
Borids, authorized to be issued by this Resolution.
"Cede & Co." shall mean Cede & Co., the nominee of DTC, and any
successor nominee of DTC with respect to the Bonds.
· "Continuing Disclosure Certificate" shall mean that certain
Continuing Disclosure Certificate executed by the Issuer and dated the date of
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issuance and delivery of the Bonds, as originally executed and as it may be
amended from time to time in accordance with the terms thereof.
"Current Refunded Bonds" shall mean $1,435,000 of the
$3,450,000 General Obligation Capital Loan Notes, Series 1992, dated
October 1, 1992; $1,450,000 of the $7,370,000 General Obligation Bonds,
Series 1994, dated June 1, 1994 and $3,530,000 of the $8,500,000 General
Obligation Bonds, Series 1995, dated April 1, 1995.
"Depository Bonds" shall mean the Bonds as issued in the form of
one global certificate for each maturity, registered in the Registration Books
maintained by the Registrar in the name of DTC or its nominee.
"DTC" shall mean The Depository Trust Company, New York, New
York, a limited purpose trust company, or any successor book-entry securities
depository appointed for the Bonds.
"Escrow Fund" shall mean the fund required to be established
by the Refunding Trust Agreement and approved by this Resolution for the
deposit of the proceeds of the Bonds to refund the Advance Refunded Bonds.
"Issuer" and "City" shall mean the City of Iowa City, Iowa.
"Participants" shall mean those broker-dealers, banks and other
financial institutions for which DTC holds Bonds as securities depository.
"Paying Agent" shall mean the City Controller, or such successor as
may be approved by Issuer as provided herein and who shall carry out the duties
prescribed herein as Issuer's agent to provide for the payment of principal of and
interest on the Bonds as the same shall become due.
"Project Fund" shall mean the fund required to be established by this
Resolution for the deposit of the proceeds of the Bonds to refund the Current
Refunded Bonds.
"Rebate Fund" shall mean the fund so defined in and established
pursuant to the Tax Exemption Certificate.
"Registrar" shall mean the City Controller of Iowa City, Iowa, or
such successor as may be approved by Issuer as provided herein and who shall
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carry out the duties prescribed herein with respect to maintaining h register of the
owners of the Bonds. Unless otherwise specified, the Registrar shall also act as
Transfer Agent for the Bonds.
· "Representation Letter" shall mean the Blanket Issuer Letter of
Representations executed and delivered by the Issuer to DTC on file at DTC.
"Resolution" shall mean this resolution authorizing the Bonds.
"Tax Exemption Certificate" shall mean the Tax Exemption
Certificate executed by the Treasurer and delivered at the time of issuance and
delivery of the Bonds.
"Treasurer" shall mean the City Treasurer or such other officer as
shall succeed to the same duties and responsibilities with respect to the recording
and payment of the Bonds issued hereunder.
"Trustee" shall mean Wells Fargo Bank Iowa, National Association
of Des Moines, Iowa, or its successor as may be approved pursuant to the
"Refunding Trust Agreement" referred to herein between the Issuer and the Trustee
for the purpose of insuring the payment of the Advance Refunded Bonds.
Section 2. Levy_ and Certification of Annual Tax; Other Funds to be Used.
(a) Lew of Annual Tax. That for the purpose of providing funds to pay the
principal and interest of the Bonds hereinafter authorized to be issued, there is
hereby levied for each future year the following direct annual tax on all of the
taxable property in Iowa City, Iowa, to-wit:
FISCAL YEAR (JULY 1 TO JUNE 30)
AMOUNT YEAR OF COLLECTION:
$1,892,691 2002/2003
$2,096,738 2003/2004
$1,305,863 2004/2005
$1,568,613 2005/2006
$1,549,113 2006/2007
$ 475,750 2007/2008
$ 459,950 2008/2009
Continued next page
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$ 473 413 2009/2010
$ 470 113 2010/2011
$ 476 463 2011/2012
$ 486 600 2012/2013
$ 459 200 2013/2014
$ 447 200 2014/2015
(NOTE: For example the levy to be made and certified against the taxable
valuations of January 1, 2001, will be collected during the fiscal year commencing
July 1, 2002).
Tax levies heretofore made pursuant to the provisions of Chapter 76 of the Code of
Iowa, for payment of the issue of bonds being refunded, as set forth in the schedule
attached as Exhibit "A", shall remain in effect but need not be included in the budget,
spread upon the tax rolls or collected in any years in which the Trustee of the Refunding
Trust Agreement authorized by Section 17 hereof shall certify to the Issuer and the Issuer
shall certify in turn to the County Auditor that the Trustee has available moneys with
which to pay the principal and interest of bonds being refunded.
(b) Resolution to be Filed With County Auditor. A certified copy of this
Resolution should be filed with the County Auditor of Johnson County, Iowa, and
said Auditor is hereby instructed in and for each of the years as provided, to levy
and assess the tax hereby authorized in Section 2 of this Resolution, in like manner
as other taxes are levied and assessed, and such taxes so levied in and for each of
the years aforesaid be collected in like manner as other taxes of the City are
collected, and when collected be used for the purpose of paying principal and
interest on said Bonds issued in anticipation of said tax, and for no other purpose
whatsoever.
(c) Additional City Funds Available. Principal and interest coming due at
any time when the proceeds of said tax on hand shall be insufficient to pay the
same shall be promptly paid when due from current funds of the City available for
that purpose and reimbursement shall be made from such special fund in the
amounts thus advanced.
Section 3. Bond Fund. Said tax shall be collected each year at the same time and
in the same manner as, and in addition to, all other taxes in and for the City, and when
collected they shall be converted into a special fund within the Debt Service Fund to be
known as the "GENERAL OBLIGATION BOND FUND 2002 NO. 2" (the "Bond
Fund"), which is hereby pledged for and shall be used only for the payment of the
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principal of and interest on the Bonds hereinafter authorized to be issued; and also there
shall be apportioned to said fund its proportion of taxes received by the City from railway,
express, telephone and telegraph companies and other taxes assessed by the Iowa State
Department of Revenue.
Section 4. Application of Bond Proceeds.
(a) Current Refunded Bonds. Proceeds of the Bonds to currently refund the
Current Refunded Bonds, other than accrued interest except as may be provided below
shall be credited to the Project Fund and expended therefrom for the purposes of issuance.
Proceeds invested shall mature before the date on which the moneys are required for
payment of principal and interest on the Current Refunded Bonds. Accrued interest, if
any, shall be deposited in the Bond Fund.
(b) Advance Refunded Bonds. Proceeds of the Advance Refunded Bonds,
other than accrued interest except as may be provided below, shall be credited to the
Escrow Fund established pursuant to Sectionl6 and expended therefrom for the purposes
of issuance. Any excess proceeds shall be held and expended for governmental purposes
of the Advance Refunded Bonds. Accrued interest, if any, shall be deposited in the Bond
Fund.
Section 5. Investments of Bond Fund Proceeds. All moneys held in the Bond
Fund, provided for by Section 3 of this Resolution shall be invested in investments
permitted by Chapter 12B, Code of Iowa, 2001 (formerly Chapter 452, Code of Iowa, as
amended) or deposited in financial institutions which are members of the Federal Deposit
Insurance Corporation and the deposits in which are insured thereby and all such deposits
exceeding the maximum amount insured from time to time by FDIC or its equivalent
successor in any one financial institution shall be continuously secured in compliance
with the State Sinking Fund provided under Chapter 12C of the Code of Iowa, 2001, as
amended or otherwise by a valid pledge of direct obligations of the United States
Government having an equivalent market value. All such interim investments shall
mature before the date on which the moneys are required for payment of principal of or
interest on the Bonds as herein provided.
Section 6. Bond Details, Execution and Redemption.
(a) Bond Details. General Obligation Refunding Bonds of the City in the amount
of $10,600,000, shall be issued pursuant to the provisions of Section 384.25 of the City
Code of Iowa for the aforesaid purpose. The Bonds shall be designated "GENERAL
OBLIGATION REFUNDING BOND", be dated November 1, 2002, and bear interest
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from the date thereof, until payment thereof, at the office of the Paying Agent, said
interest payable on June 1, 2003, and semiannually thereafter on the 1st day of December
and June in each year until maturity at the rates hereinafter provided.
The Bonds shall be executed by the manual or facsimile signature of the Mayor and
attested by the manual or facsimile signature of the Clerk, and impressed or printed with
the seal of the City and shall be fully registered as to both principal and interest as
provided in this Resolution; principal, interest and premium, if any, shall be payable at the
office of the Paying Agent by mailing ora check to the registered owner of the Bond.
The Bonds shall be in the denomination of $5,000 "or multiples thereof'. The Bonds
shall mature and bear interest as follows:
Interest Principal Maturity
Rate Amount June 1 st
2.500% $1,715,000 2003
2.500% $1,835,000 2004
2.500% $1,090,000 2005
2.500% $1,380,000 2006
2.750% $1,395 000 2007
3.000% $ 360 000 2008
3.250% $ 355 000 2009
3.500% $ 380000 2010
3.500% $ 390000 2011
3.625% $ 410000 2012
4.000% $ 435 000 2013
4.000% $ 425 000 2014
4.000% $ 430 000 2015
(b) Redemption. Bonds maturing after June 1, 2012, may be called for redemption
by the Issuer and paid before maturity on said date or any 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 by lot. The terms of redemption shall be par, plus accrued
interest to date of call.
Thirty days' notice of redemption shall be given by ordinary mail to the registered
owner of the Bond. Failure to give such notice by mail to any registered owner of the
Bonds or any defect therein shall not affect the validity of any proceedings for the
redemption of the Bonds. All bonds or portions thereof called for redemption will cease to
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bear interest after the specified redemption date, provided funds for thei/redemption are
on deposit at the place of payment.
If selection by lot within a maturity is required, the Registrar shall designate the
bonds to be redeemed by random selection of the names of the registered owners of the
entire annual maturity until the total amount of bonds to be called has been reached.
Section 7. Issuance of Bonds in Book-Entry Form; Replacement Bonds.
(a) Notwithstanding the other provisions of this Resolution regarding
registration, ownership, transfer, payment and exchange of the Bonds, unless the Issuer
determines to permit the exchange of Depository Bonds for Bonds in the Authorized
Denominations, the Bonds shall be issued as Depository Bonds in denominations of the
entire principal amount of each maturity of Bonds (or, ifa portion of said principal
amount is prepaid, said principal amount less the prepaid amount); and such Depository
Bonds shall be registered in the name of Cede & Co., as nominee of DTC. Payment of
semi-annual interest for any Depository Bond shall be made by wire transfer or New York
Clearing House or equivalent next day funds to the account of Cede & Co. on the interest
payment date for the Bonds at the address indicated in or pursuant to the Representation
Letter.
(b) With respect to Depository Bonds, neither the Issuer nor the Paying Agent
shall have any responsibility or obligation to any Participant or to any Beneficial Owner.
Without limiting the immediately preceding sentence, neither the Issuer nor the Paying
Agent shall have any responsibility or obligation with respect to (i) the accuracy of the
records of DTC or its nominee or of any Participant with respect to any ownership interest
in the Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other
person, other than DTC or its nominee, of any notice with respect to the Bonds, (iii) the
payment to any Participant, any Beneficial Owner or any other person, other than DTC or
its nominee, of any amount with respect to the principal of, premium, if any, or interest on
the Bonds, or (iv) the failure of DTC to provide any information or notification on behalf
of any Participant or Beneficial Owner.
The Issuer and the Paying Agent may treat DTC or its nominee as, and deem DTC
or its nominee to be, the absolute owner of each Bond for the purpose of payment of the
principal of, premium, if any, and interest on such Bond, for the purpose of all other
matters with respect to such Bond, for the purpose of registering transfers with respect to
such Bonds, and for all other purposes whatsoever (except for the giving of certain
Bondholder consents, in accordance with the practices and procedures of DTC as may be
applicable thereto). The Paying Agent shall pay all principal of, premium, if any, and
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interest on the Bonds only to or upon the order of the Bondholders as shbwn on the
Registration Books, and all such payments shall be valid and effective to fully satisfy and
discharge the Issuer's obligations with respect to the principal of, premium, if any, and
interest on the Bonds to the extent so paid. Notwithstanding the provisions of this
Resolution to the contrary (including without limitation those provisions relating to the
surrender of Bonds, registration thereof, and issuance in Authorized Denominations), as
long as the Bonds are Depository Bonds, full effect shall be given to the Representation
Letter and the procedures and practices of DTC thereunder, and the Paying Agent shall
comply therewith.
(c) Upon (i) a determination by the Issuer that DTC is no longer able to carry
out its functions or is otherwise determined unsatisfactory, or (ii) a determination by DTC
that the Bonds are no longer eligible for its depository services or (iii) a determination by
the Paying Agent that DTC has resigned or discontinued its services for the Bonds, the
Issuer shall (A) designate a satisfactory substitute depository as set forth below or, if a
satisfactory substitute is not found, (B) provide for the exchange of Depository Bonds for
replacement Bonds in Authorized Denominations.
(d) If the Issuer determines to provide for the exchange of Depository Bonds for
Bonds in Authorized Denominations, the Issuer shall so notify the Paying Agent and shall
provide the Registrar with a supply of executed unauthenticated Bonds to be so
exchanged. The Registrar shall thereupon notify the owners of the Bonds and provide for
such exchange, and to the extent that the Beneficial Owners are designated as the
transferee by the owners, the Bonds will be delivered in appropriate form, content and
Authorized Denominations to the Beneficial Owners, as their interests appear.
(e) Any substitute depository shall be designated in writing by the Issuer to the
Paying Agent. Any such substitute depository shall be a qualified and registered "clearing
agency" as provided in Section 17A of the Securities Exchange Act of 1934, as amended.
The substitute depository shall provide for (i) immobilization of the Depository Bonds,
(ii) registration and transfer of interests in Depository Bonds by book entries made on
records of the depository or its nominee and (iii) payment of principal of, premium, if any,
and interest on the Bonds in accordance with and as such interests may appear with
respect to such book entries.
Section 8. Registration of Bonds; Appointment of Registrar; Transfer; Ownership;
Delivery_; and Cancellation.
(a) Registration. The ownership of Bonds may be transferred only by the making
of an entry upon the books kept for the registration and transfer of ownership of the
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Bonds, and in no other way. The City Controller is hereby appointed as Bond Registrar
under the terms of this Resolution. Registrar shall maintain the books of the Issuer for the
registration of ownership of the Bonds for the payment of principal of and interest on the
Bonds as provided in this Resolution. All Bonds shall be negotiable as provided in
Article 8 of the Uniform Commercial Code and Section 384.31 of the Code of Iowa,
subject to the provisions for registration and transfer contained in the Bonds and in this
Resolution.
(b) Transfer. The ownership of any Bond may be transferred only upon the
Registration Books kept for the registration and transfer of Bonds and only upon
surrender thereof at the office of the Registrar together with an assignment duly executed
by the holder or his duly authorized attorney in fact in such form as shall be satisfactory to
the Registrar, along with the address and social security number or federal employer
identification number of such transferee (or, if registration is to be made in the name of
multiple individuals, of all such transferees). In the event that the address of the
registered owner ora Bond (other than a registered owner which is the nominee of the
broker or dealer in question) is that of a broker or dealer, there must be disclosed on the
Registration Books the information pertaining to the registered owner required above.
Upon the transfer of any such Bond, a new fully registered Bond, of any denomination or
denominations permitted by this Resolution in aggregate principal amount equal to the
unmatured and unredeemed principal amount of such transferred fully registered Bond,
and bearing interest at the same rate and maturing on the same date or dates shall be
delivered by the Registrar.
(c) Registration of Transferred Bonds. In all cases of the transfer of the Bonds,
the Registrar shall register, at the earliest practicable time, on the Registration Books, the
Bonds, in accordance with the provisions of this Resolution.
(d) Ownership. As to any Bond, the person in whose name the ownership of the
same shall be registered on the Registration Books of the Registrar shall be deemed and
regarded as the absolute owner thereof for all purposes, and payment of or on account of
the principal of any such Bonds and the premium, if any, and interest thereon shall be
made only to or upon the order of the registered owner thereof or his legal representative.
All such payments shall be valid and effectual to satis~ and discharge the liability upon
such Bond, including the interest thereon, to the extent of the sum or sums so paid.
(e) Cancellation. All Bonds which have been redeemed shall not be reissued but
shall be cancelled by the Registrar. All Bonds which are cancelled by the Registrar shall
be destroyed and a certificate of the destruction thereof shall be furnished promptly to the
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Issuer; provided that if the Issuer shall so direct, the Registrar shall forward the cancelled
Bonds to the Issuer.
(f) Non-Presentment of Bonds. In the event any payment check representing
payment of principal of or interest on the Bonds is returned to the Paying Agent or if any
bond is not presented for payment of principal at the maturity or redemption date, if funds
sufficient to pay such principal of or interest on Bonds shall have been made available to
the Paying Agent for the benefit of the owner thereof, all liability of the Issuer to the
owner thereof for such interest or payment of such Bonds shall forthwith cease, terminate
and be completely discharged, and thereupon it shall be the duty of the Paying Agent to
hold such funds, without liability for interest thereon, for the benefit of the owner of such
Bonds who shall thereafter be restricted exclusively to such funds for any claim of
whatever nature on his part under this Resolution or on, or with respect to, such interest or
Bonds. The Paying Agent's obligation to hold such funds shall continue for a period
equal to two years and six months following the date on which such interest or principal
became due, whether at maturity, or at the date fixed for redemption thereof, or otherwise,
at which time the Paying Agent, shall surrender any remaining funds so held to the Issuer,
whereupon any claim under this Resolution by the Owners of such interest or Bonds of
whatever nature shall be made upon the Issuer.
(g) Registration and Transfer Fees. The Registrar may furnish to each owner, at
the Issuer's expense, one bond for each annual maturity. The Registrar shall furnish
additional bonds in lesser denominations (but not less than the minimum denomination) to
an owner who so requests.
Section 9. Reissuance of Mutilated, Destroyed, Stolen or Lost Bonds. In case any
outstanding Bond shall become mutilated or be destroyed, stolen or lost, the Issuer shall at
the request of Registrar authenticate and deliver a new Bond of like tenor and amount as
the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such
mutilated Bond to Registrar, upon surrender of such mutilated Bond, or in lieu of and
substitution for the Bond destroyed, stolen or lost, upon filing with the Registrar evidence
satisfactory to the Registrar and Issuer that such Bond has been destroyed, stolen or lost
and proof of ownership thereof, and upon furnishing the Registrar and Issuer with
satisfactory indemnity and complying with such other reasonable regulations as the Issuer
or its agent may prescribe and paying such expenses as the Issuer may incur in connection
therewith.
Section 10. Record Date. Payments of principal and interest, otherwise than upon
full redemption, made in respect of any Bond, shall be made to the registered holder
thereof or to their designated agent as the same appear on the books of the Registrar on
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the 15th day preceding the payment date. All such payments shall fully ilischarge the
obligations of the Issuer in respect of such Bonds to the extent of the payments so made.
Payment of principal shall only be made upon surrender of the Bond to the Paying Agent.
Section 11. Execution, Authentication and Delivery_ of the Bonds. Upon the
adoption o£this Resolution, the Mayor and Clerk shall execute and deliver the Bonds to
the Registrar, who shall authenticate the Bonds and deliver the same to or upon order of
the Purchaser. No Bond shall be valid or obligatory for any purpose or shall be entitled to
any right or benefit hereunder unless the Registrar shall duly endorse and execute on such
Bond a Certificate of Authentication substantially in the form of the Certificate herein set
forth. Such Certificate upon any Bond executed on behalf of the Issuer shall be
conclusive evidence that the Bond so authenticated has been duly issued under this
Resolution and that the holder thereof is entitled to the benefits of this Resolution.
Section 12. Right to Name Substitute Paying Agent or Registrar. Issuer reserves
the right to name a substitute, successor Registrar or Paying Agent upon giving prompt
written notice to each registered bondholder.
-14-
Section 13. Form of Bond. Bonds shall be printed in substantial 6ompliance with
standards proposed by the American Standards Institute substantially in the form as
follows:
(6) I
I (8) I
(1)
I (2) I I (3) I [ (4) I I (5) I
(9)
I (9a) I
(10) I
(Continued on the back of this Bond)
I (11)(12)(13) ] I (14) ] [ (15) ]
FIGURE 1
(Front)
-15-
(10) (16)
(Continued)
FIGURE2
(Back)
-16-
The text of the Bonds to be located thereon at the item numbers shown shall be as
follows:
Item 1, figure 1 = "STATE OF IOWA"
"COUNTY OF JOHNSON"
"CITY OF IOWA CITY"
"GENERAL OBLIGATION REFUNDING BOND"
"ESSENTIAL CORPORATE PURPOSE"
"SERIES 2002"
Item 2, figure 1 = Rate:
Item 3, figure 1 -- Maturity:
Item 4, figure 1 ~ Bond Date: November 1, 2002
Item 5, figure 1 = Cusip No.:
Item 6, figure 1 = "Registered"
Item 7, figure 1 = Certificate No.
Item 8, figure 1 -- Principal Amount: $
Item 9, figure 1 = The City of Iowa City, Iowa, a municipal corporation
organized and existing under and by virtue of the Constitution and laws of the State of
Iowa (the "Issuer"), for value received, promises to pay from the source and as hereinafter
provided, on the maturity date indicated above, to
Item 9A, figure 1 = (Registration panel to be completed by Registrar or Printer
with name of Registered Owner).
Item 10, figure 1 = or registered assigns, the principal sum of(principal amount
written out) THOUSAND DOLLARS in lawful money of the United States of America,
on the maturity date shown above, only upon presentation and surrender hereof at the
office of the City Controller, Paying Agent of this issue, or its successor, with interest on
said sum from the date hereof until paid at the rate per annum specified above, payable on
June 1, 2003, and semiannually thereafter on the 1st day of December and June in each
year.
Interest and principal shall be paid to the registered holder of the Bond as shown
on the records of ownership maintained by the Registrar as of the 15th day preceding such
interest payment date. Interest shall be computed on the basis of a 360-day year of twelve
30-day months.
-17-
This Bond is issued by the City of Iowa City, Iowa, pursuant to the provisions of
Section 384.25, of the City Code of Iowa, for the purpose of paying costs of adjusting and
refunding existing general obligation indebtedness of the City of Iowa City, Iowa, a
portion of the proceeds of the bonds of this issue to be used to currently refund
outstanding general obligation indebtedness with the remaining proceeds being deposited
in trust, pursuant to the terms of a Refunding Trust Agreement, and invested in such
manner as to pay, when due, the installments of principal of and interest on the City:s
presently outstanding general obligation bonds to be refunded from the proceeds of this
issue, in conformity to a Resolution of the Council of the City, duly passed and approved.
Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a limited purpose trust company ("DTC"), to the Issuer or its
agent for registration of transfer, exchange or payment, and any certificate issued is
registered in the name of Cede & Co. or such other name as requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other entity as
is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.
Bonds maturing after June 1, 2012, may be called for redemption by the Issuer and
paid before maturity on said date or any 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 by lot. The terms of redemption shall be par, plus accrued interest to date of call.
Thirty days' notice of redemption shall be given by ordinary mail to the registered
owner of the Bond. Failure to give such notice by mail to any registered owner of the
Bonds or any defect therein shall not affect the validity of any proceedings for the
redemption of the Bonds. All bonds or portions thereof called for redemption will cease to
bear interest after the specified redemption date, provided funds for their redemption are
on deposit at the place of payment.
If selection by lot within a maturity is required, the Registrar shall designate the
bonds to be redeemed by random selection of the names of the registered owners of the
entire annual maturity until the total amount of bonds to be called has been reached.
Ownership of this Bond may be transferred only by transfer upon the books kept
for such purpose by the City Controller, the Registrar. Such transfer on the books shall
occur only upon presentation and surrender of this Bond at the office of the Registrar as
designated below, together with an assignment duly executed by the owner hereof or his
-18-
duly authorized attorney in the form as shall be satisfactory to the Registrar. Issuer
reserves the right to substitute the Registrar and Paying Agent but shall, however,
promptly give notice to registered bondholders of such change. All bonds shall be
negotiable as provided in Article 8 of the Uniform Commercial Code and Section 384.31
of the Code of Iowa, subject to the provisions for registration and transfer contained in the
Bond Resolution.
And it is hereby represented and certified that all acts, conditions and things
requisite, according to the laws and Constitution of the State of Iowa, to exist, to be had,
to be done, or to be performed precedent to the lawful issue of this Bond, have been
existent, had, done and performed as required by law; that provision has been made for
the levy of a sufficient continuing annual tax on all the taxable property within the
territory of the Issuer for the payment of the principal and interest of this Bond as the
same will respectively become due; that the faith, credit, revenues and resources and all
the real and personal property of the Issuer are irrevocably pledged for the prompt
payment hereof, both principal and interest; and the total indebtedness of the Issuer
including this Bond, does not exceed the constitutional or statutory limitations.
IN TESTIMONY WHEREOF, the Issuer by its Council, has caused this Bond to
be signed by the facsimile signature of its Mayor and attested by the facsimile signature of
its City Clerk, with the seal of said City printed hereon, and to be authenticated by the
manual signature of an authorized representative of the Registrar, the City Controller,
Iowa City, Iowa.
Item 11, figure 1 = Date of authentication:
Item 12, figure 1 = This is one of the Bonds described in the within mentioned
Resolution, as registered by the City Controller.
CITY CONTROLLER, Registrar
By:
Authorized Signature
Item 13, figure 1 = Registrar and Transfer Agent: City Controller
Paying Agent: City Controller
SEE REVERSE FOR CERTAIN DEFINITIONS
Item 14, figure 1 = (Seal)
-19-
Item 15, figure 1 = [Signature Block]
CITY OF IOWA CITY, IOWA
By: (facsimile signature)
Mayor
ATTEST:
By: (facsimile signature)
City Clerk
Item 16, figure 2 = [Assignment Block]
[Information Required for Registration]
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
(Social Security or Tax Identification No. )
the within Bond and does hereby irrevocably constitute and appoint attorney
in fact to transfer the said Bond on the books kept for registration of the within Bond,
with full power of substitution in the premises.
Dated
(Person(s) executing this Assignment sign(s) here)
SIGNATURE )
GUARANTEED)
IMPORTANT - READ CAREFULLY
The signature(s) to this Power must correspond with the name(s) as written upon
the face of the certificate(s) or bond(s) in every particular without alteration or
enlargement or any change whatever. Signature guarantee must be provided in
accordance with the prevailing standards and procedures of the Registrar and
Transfer Agent. Such standards and procedures may require signature to be
-20-
guaranteed by certain eligible guarantor institutions that participate in a recognized
signature guarantee program.
INFORMATION REQUIRED FOR REGISTRATION OF TRANSFER
Name of Transferee(s)
Address of Transferee(s)
Social Security or Tax
Identification Number of
Transferee(s)
Transferee is a(n):
Individual* Corporation
Partnership Trust
*If the Bond is to be registered in the names of multiple individual owners, the names of
all such owners and one address and social security number must be provided.
The following abbreviations, when used in the inscription on the face of this Bond,
shall be construed as though written out in full according to applicable laws or
regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common
IA UNIF TRANS MIN ACT - . ........... Custodian ............
(Cust) (Minor)
under Iowa Uniform Transfers
to Minors Act ...................
(State)
ADDITIONAL ABBREVIATIONS MAY
ALSO BE USED THOUGH NOT IN THE ABOVE LIST
Section 14. Contract Between Issuer and Purchaser. This Resolution constitutes a
contract between said City and the purchaser of the Bonds.
-21-
Section 15. Non-Arbitrage Covenants - Advance Refunded Bonds. The proceeds
from the sale of the bonds shall be deposited in trust as provided in the following Section
hereof.
None of the proceeds of the Bonds, and none of the investment income therefrom,
will be used in a manner which would cause any of the Bonds to be classified as arbitrage
bonds within the meaning of Sections 148(a) and (b) of the Internal Revenue Code.of the
United States, as amended; and on and before the date of the delivery of the Bonds the
Treasurer shall issue a certificate to establish the reasonable expectations regarding the
use of the proceeds of the Bonds in the manner required by Sections 148(a) and (b) of the
Internal Revenue Code and regulations issued or proposed thereunder.
To the best knowledge and belief of the Issuer, there are no facts or circumstances
that would materially change the foregoing statements or the conclusion that it is not
expected that the proceeds of the Bonds will be used in a manner that would cause the
Bonds to be arbitrage bonds. Without limiting the generality of the foregoing, the Issuer
hereby agrees to comply with the provisions of the Tax Exemption Certificate and the
provisions of the Tax Exemption Certificate are hereby incorporated by reference as part
of this Resolution. The Treasurer is hereby directed to make and insert all calculations
and determinations necessary to complete the Tax Exemption Certificate in all respects
and to execute and deliver the Tax Exemption Certificate at issuance of the Bonds to
certify as to the reasonable expectations and covenants of the Issuer at that date.
Any funds received from the Trustee for use of the Paying Agent, to pay principal
and interest on the bonds to be refunded shall be held in cash or non-interest bearing
demand deposits separate from all other moneys or accounts of the Issuer.
Section 16. Non-Arbitrage Covenants - Current Refunded Bonds. The Issuer
reasonably expects and covenants that no use will be made of the proceeds from the
issuance and sale of the Bonds issued hereunder which will cause any of the Bonds to be
classified as arbitrage bonds within the meaning of Sections 148(a) and (b) of the Internal
Revenue Code of the United States, as amended, and that throughout the term of the
Bonds it will comply with the requirements of statutes and regulations issued thereunder.
To the best knowledge and belief of the Issuer, there are no facts or circumstances
that would materially change the foregoing statements or the conclusion that it is not
expected that the proceeds of the Bonds will be used in a manner that would cause the
Bonds to be arbitrage bonds. Without limiting the generality of the foregoing, the Issuer
hereby agrees to comply with the provisions of the Tax Exemption Certificate and the
provisions of the Tax Exemption Certificate are hereby incorporated by reference as part
-22-
of this Resolution. The Treasurer is hereby directed to make and insert all calculations
and determinations necessary to complete the Tax Exemption Certificate in all respects
and to execute and deliver the Tax Exemption Certificate at issuance of the Bonds to
certify as to the reasonable expectations and covenants of the Issuer at that date.
Section 17. Deposit of Proceeds In Escrow. A sufficient amount of the proceeds
derived from the sale of the bonds herein authorized, save for accrued interest which shall
be deposited in the Bond Fund created by Section 3 of this Resolution, shall be placed in
escrow with Wells Fargo Bank Iowa, National Association, as Trustee under the
Refunding Trust Agreement dated as of November 1, 2002, which Trustee shall 1) hold
such proceeds in a special and irrevocable trust fund, 2) invest such proceeds only in cash
or direct obligations of the United States, and 3) apply such proceeds and earnings
thereon only in accordance with the terms and conditions of the Refunding Trust
Agreement. All the terms and conditions of the Refunding Trust Agreement are hereby
incorporated by reference in this Resolution as if set forth herein in full. The Refunding
Trust Agreement is hereby approved and confirmed as binding upon the Issuer, and the
Mayor and City Clerk are hereby authorized to execute the same on behalf of the Issuer.
The Mayor and Clerk are hereby authorized to direct the City Controller, as
Registrar and Paying Agent, to give notice of call of the Current Refunded Bonds and
Advance Refunded Bonds pursuant to the provisions of the respective authorizing
resolutions. The Notice of Call for each series of bonds being refunded is attached.
Section 18. Severability Clause. If any section, paragraph, clause or provision of
this Resolution be held invalid, such invalidity shall not affect any of the remaining
provisions hereof, and this Resolution shall become effective immediately upon its
passage and approval.
Section 19. Continuing Disclosure. The Issuer hereby covenants and agrees that it
will comply with and carry out all of the provisions of the Continuing Disclosure
Certificate, and the provisions of the Continuing Disclosure Certificate are hereby
incorporated by reference as part of this Resolution and made a part hereof.
Notwithstanding any other provision of this Resolution, failure of the Issuer to comply
with the Continuing Disclosure Certificate shall not be considered an event of default
under this Resolution; however, any holder of the Bonds or Beneficial Owner may take
such actions as may be necessary and appropriate, including seeking specific performance
by court order, to cause the Issuer to comply with its obligations under the Continuing
Disclosure Certificate. For purposes of this section, "Beneficial Owner" means any
person which (a) has the power, directly or indirectly, to vote or consent with respect to,
or to dispose of ownership of, any Bond (including persons holding Bonds through
-23-
nominees, depositories or other intermediaries), or (b) is treated as the owner of any
Bonds for federal income tax purposes.
Section 20. Additional Covenants, Representations and Warranties of the Issuer.
The Issuer certifies and covenants with the purchasers and holders of the Bonds from time
to time outstanding that the Issuer through its officers, (a) will make such further specific
covenants, representations and assurances as may be necessary or advisable; (b) comply
with all representations, covenants and assurances contained in the Tax Exemption
Certificate, which Tax Exemption Certificate shall constitute a part of the contract
between the Issuer and the owners of the Bonds; (c) consult with bond counsel (as defined
in the Tax Exemption Certificate); (d) pay to the United States, as necessary, such sums of
money representing required rebates of excess arbitrage profits relating to the Bonds; (e)
file such forms, statements and supporting documents as may be required and in a timely
manner; and (f) if deemed necessary or advisable by its officers, to employ and pay fiscal
agents, financial advisors, attorneys and other persons to assist the Issuer in such
compliance.
Section 21. Amendment of Resolution to Maintain Tax Exemption. This'
Resolution may be amended without the consent of any owner of the Bonds if, in the
opinion of bond counsel, such amendment is necessary to maintain tax exemption with
respect to the Bonds under applicable Federal law or regulations.
Section 22. Repeal of Conflicting Resolutions or Ordinances. That all ordinances
and resolutions and parts of ordinances and resolutions in conflict herewith are hereby
repealed.
PASSED AND APPROVED this 22nflday of October ,
2002.
ATTEST:
City""Clerk
DCORSBI E~342179\ 10714.063
-24-
EXHIBIT "A"
Advance Refunded Bonds
Pfinc~al Interest Maturity
Amount Rate June 1st
$300,000 4.95% 2006
$325,000 5.00% 2007
$350,000 5.10% 2008
$350,000 5.20% 2009
$375,000 5.30% 2010
$400,000 5.40% 2011
$425,000 5.50% 2012
$450,000 5.55% 2013
$450,000 5.55% 2014
$475,000 5.55% 2015
-25-
NOTICE OF THE CALL OF NOTES FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED NOTES:
Please take notice that the notes described below have been called for redemption.
Owners of the notes should present their notes for payment on the redemption date.
Issuer: Iowa City, Iowa
Original
Issue Amount: $3,450,000
Bond Issue: General Obligation Capital Loan Notes, Series 1992
Dated Date: October 1, 1992
Redemption Date: December 1, 2002
Redemption Price: Par plus accrued interest
Notes Called for Redemption
Principal Interest Maturity
Amount Rate June 1st
$260,000 5.00% 2003
270,000 5.10% 2004
285,000 5.15% 2005
300,000 5.20% 2006
320,000 5.20% 2007
The above notes should be presented to the City Controller, Civic Center, 410 E.
Washington Street, Iowa City, Iowa 52240-1826. This represents a full call of the
outstanding obligations. All interest will cease to accrue on the Redemption Date.
CITY CONTROLLER, Iowa City, Iowa
End of Notice)
339107\1\10714063
NOTICE OF THE CALL OF BONDS FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS:
Please take notice that the bonds described below have been called for
redemption. Owners of the bonds should present their bonds for payment on the
redemption date.
Issuer: Iowa City, Iowa
Original
Issue Amount: $7,370,000
Bond Issue: General Obligation Bonds, Series 1994
Dated Date: June 1, 1994
Redemption Date: December 1, 2002
Redemption Price: Par plus accrued interest
Bonds Called for Redemption
Principal Interest Maturity
Amount Rate June 1st
$725,000 4.70% 2003
$725,000 4.70% 2004
The above bonds should be presented to the City Controller, Civic Center, 410 E.
Washington Street, Iowa City, Iowa 52240-1826. This represents a full call of the
outstanding obligations. All interest will cease to accrue on the Redemption Date.
CITY CONTROLLER, Iowa City, Iowa
(End of Notice)
339109.1\10714063
NOTICE OF THE CALL OF BONDS FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS:
Please take notice that the bonds described below have been called for
redemption. Owners of the bonds should present their bonds for payment on the
redemption date.
Issuer: Iowa City, Iowa
Original
Issue Amount: $8,500,000
Bond Issue: General Obligation Bonds, Series 1995
Dated Date: April 1, 1995
Redemption Date: December 1, 2002
Redemption Price: Par plus accrued interest
Bonds Called for Redemption
Principal Interest Maturity
Amount Rate June 1st
$710,000 5.000% 2003
$705,000 5.000% 2004
$705,000 5.000% 2005
$705,000 5.100% 2006
$705,000 5.125% 2007
The above bonds should be presented to the City Controller, Civic Center, 410 E.
Washington Street, Iowa City, Iowa 52240-1826. This represents a full call of the
outstanding obligations. All interest will cease to accrue on the Redemption Date.
CITY CONTROLLER, Iowa City, Iowa
(End of Notice)
~339111\1\10714063
NOTICE OF THE CALL OF BONDS FOR REDEMPTION
TO THE HOLDERS OF THE FOLLOWING DESCRIBED BONDS:
Please take notice that the bonds described below have been called for
redemption. Owners of the bonds should present their bonds for payment on the
redemption date.
Issuer: Iowa City, Iowa
Original
Issue Amount: $6,100,000
Bond Issue: General Obligation Bonds, Series 1996
Dated Date: March 15, 1996
Redemption Date: June 1, 2005
Redemption Price: Par plus accrued interest
Bonds Called for Redemption
Principal Interest Maturity
Amount Rate June 1 st
$300,000 4.95% 2006
$325,000 5.00% 2007
$350,000 5.10% 2008
$350,000 5.20% 2009
$375,000 5.30% 2010
$400,000 5.40% 2011
$425,000 5.50% 2012
$450,000 5.55% 2013
$450,000 5.55% 2014
$475,000 5.55% 2015
The above bonds should be presented to the City Controller, Civic Center, 410 E.
Washington Street, Iowa City, Iowa 52240-1826. This represents a full call of the
outstanding obligations. All interest will cease to accrue on the Redemption Date.
CITY CONTROLLER, Iowa City, Iowa
(End of Notice)
339119\I\10714063
CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
)SS
COUNTY OF JOHNSON )
I, the undersigned City Clerk of Iowa City, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
· showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said
law and with members of the public present in attendance; I further certify that the
individuals named therein were on the date thereof duly and lawfully possessed of their
respective city offices as indicated therein, that no Council vacancy existed except as
may be stated in said proceedings, and that no controversy or litigation is pending,
prayed or threatened involving the incorporation, organization, existence or boundaries
of the City or the right of the individuals named therein as officers to their respective
positions.
WITNESS my hand and the seal of said Municipality hereto affixed this
24th day of October ,2002.
City-X'~lerkl Iowa City, Iowa
SEAL
DCORSBIE~342266\10714.063
October '22 .,2002
The City Council of Iowa City, Iowa, met in special session, in the Enuua
J. Harvat Hall, Civic Center, Iowa City, Iowa, at 7: 00 o'clock P.M., on the above
date. There were present Mayor Lehman , in the chair, and the
following named Council Members:
Champion~ Kanner~ Lehma% O'Donnell~
Vanderhoef, Wilburn
Absent: Pfab
-1-
Council Member 0' Donnel 1 moved that the form of Tax
Exemption Certificate be placed on file and approved. Council Member
Vanderhoef seconded the motion. The roll was called and the vote
was,
AYES: Chamoion. Kanner. Lehman, 0'llonnoll,
Vanderhoef. Wilb~rn
NAYS: None
Council Member Champi on moved that the form of
Continuing Disclosure Certificate be placed on file and approved. Council Member
Vanderhoef seconded the motion. The roll was called and the vote
was,
AYES: Champion, Kanner, Lehman, O'Donnell,
Vanderhoef, Wilburn
NAYS: None
Council Member £hanml nn introduced the following
Resolution entitled "A RESOLIJTION AUTHORIZING AND PROVIDING FOR THE
ISSUANCE AND SECURING THE PAYMENT OF $8,500,000 WATER REVENUE
BONDS OF THE CITY OF IOWA CITY, IOWA, UNDER THE PROVISIONS OF
THE CITY CODE OF IOWA, AND PROVIDING FOR A METHOD OF PAYMENT
OF SAID BONDS", and moved its adoption. Council Member Vanderhoef
seconded the motion to adopt. The roll was called and the vote was:
-2-
A~rE$: ~'Bnnn~ll: Vand~rhnmf: WilhlJrn: £hampinn:
Kanner~ Lehman
NAYS: None
ABSENT: Pfab
Whereupon the MaYor declared the following Resolution duly adopted:
Resolution No. 02-370
A RESOLUTION AUTHORIZING AND PROVIDING FOR THE
ISSUANCE AND SECURING THE PAYMENT OF $8,500,000 WATER
REVENUE BONDS OF THE CITY OF IOWA CITY, IOWA, UNDER
THE PROVISIONS OF THE CITY CODE OF IOWA, AND
PROVIDING FOR A METHOD OF PAYMENT OF SAID BONDS
WHEREAS, the City Council of the City of Iowa City, Iowa, sometimes
hereinafter referred to as the "Issuer", has heretofore established charges, rates and
rentals for services which are and will continue to be collected as system revenues of the
Municipal Water Utility, sometimes hereinafter referred to as the "System", and said
revenues have not been pledged and are available for the payment o£Revenue Bonds,
subject to the following premises; and
WHEREAS, Issuer proposes to issue its Revenue Bonds to the extent of
$8,500,000 for the purpose of defraying the costs of the project as set forth in Section 3
of this Resolution; and
WHEREAS, there have been heretofore issued certain water revenue bonds or
notes, part of which remain outstanding and are a lien on the Net Revenues of the System
(defined herein as the "Outstanding Bonds"); and
WHEREAS, in the Resolution authorizing the issuance of the Outstanding Bonds
it is provided that additional Revenue Bonds may be issued on a parity with the
Outstanding Bonds, for the costs of future improvements and extensions to the System,
provided that there has been procured and placed on file with the Clerk, a statement
complying with the conditions and limitations therein imposed upon the issuance of said
Parity Bonds; and
-3-
WHEREAS, a statement of Deloitte & Touche Certified Public Accountants not
in the regular employ of Issuer, has been placed on file in the office of the Clerk,
showing the conditions and limitations of Resolutions dated May 4, 1999 and
November 21, 2000, with regard to the sufficiency of the revenues of the System to
permit the issuance of additional Revenue Bonds ranking on a parity with the
Outstanding Bonds to have been met and satisfied as required; and
WHEREAS, the notice of intemion of Issuer to take action for the issuance of
$10,000,000 Water Revenue Bonds has heretofore been duly published and no
objections to such proposed action have been filed and the City desires to proceed with
the issuance of $8,500,000 Bonds:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITY, IN THE COUNTY OF JOHNSON, STATE OF IOWA:
Section 1. Definitions. The following terms shall have the following meanings in
this Resolution unless the text expressly or by necessary implication requires otherwise:
"Additional Bonds" shall mean any water revenue bonds or notes
issued on a parity with the Bonds in accordance with the provisions of this
Resolution.
"Authorized Denominations" shall mean $5,000 or any integral
multiple thereof.
"Beneficial Owner" shall mean the person in whose name such
Bond is recorded as the beneficial owner ora Bond by a Participant on the records
of such Participant or such person's subrogee.
"Bonds" shall mean $8,500,000 Water Revenue Bonds, Series 2002,
authorized to be issued by this Resolution.
· "Cede & Co." shall mean Cede & Co., the nominee of DTC, and any
successor nominee of DTC with respect to the Bonds.
"Clerk" shall mean the City Clerk or such other officer of the
successor Governing Body as shall be charged with substantially the same duties
and responsibilities.
-4-
· "Continuing Disclosure Certificate" shall mean that certain
Continuing Disclosure Certificate executed by the Issuer and dated the date of
issuance and delivery of the Bonds, as originally executed and as it may be
amended from time to time in accordance with the terms thereof.
"Depository Bonds" shall mean the Bonds as issued in the form of
one global certificate for each maturity, registered in the Registration Books.
maintained by the Registrar in the name of DTC or its nominee.
"DTC" shall mean The Depository Trust Company, New York, New
York, a limited purpose trust company, or any successor book-entry securities
depository appointed for the Bonds.
· "Fiscal Year" shall mean the twelve-month period beginning on
July 1 of each year and ending on the last day of June of the following year, or any
other consecutive twelve-month period adopted by the Governing Body or by law
as the official accouming period of the System. Requirements of a Fiscal Year as
expressed in this Resolution shall exclude any payment of principal or interest
falling due on the first day of the Fiscal Year and include any payment of principal
or interest falling due on the first day of the succeeding Fiscal Year, except to the
extent of any conflict with the terms of the Outstanding Bonds while the same
remain outstanding.
"Governing Body" shall mean the City Council of the City, or its
successor in function with respect to the operation and control of the System.
"Independent Auditor" shall mean an independent firm of Certified
Public Accountants or the Auditor of State.
"Issuer" and "City" shall mean the City of Iowa City, Iowa.
"Net Revenues" shall mean gross earnings of the System after
deduction of current expenses; "Current Expenses" shall mean and include the
reasonable and necessary cost of operating, maintaining, repairing and insuring
the System, including purchases at wholesale, if any, salaries, wages, and costs of
materials and supplies but excluding depreciation and principal of and interest on
the Bonds and any Parity Bonds or payments to the various funds established
herein; capital costs, depreciation and interest or principal payments are not
System expenses.
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"Original Purchaser" shall mean the purchaser of the Bonds from
Issuer at the time of their original issuance.
"Outstanding Bonds" shall mean the Water Revenue Bonds dated
May 1, 1999 and December 1, 2000, issued in accordance with Resolutions No.
99-144 and 00-395, adopted May 4, 1999 and November 21, 2000, $8,620,000 and
$12,235,000 of which bonds are still outstanding and unpaid and remain a lien on
the Net Revenues of the System.
· "Parity Bonds" shall mean Water revenue bonds or notes payable
solely from the Net Revenues of the System on an equal basis with the Bonds
herein authorized to be issued, and shall include Additional Bonds as authorized to
be issued under the terms of this Resolution and the Outstanding Bonds.
· "Participants" shall mean those broker-dealers, banks and other
financial institutions for which DTC holds Bonds as securities depository.
"Paying Agent" shall mean the City Controller, or such successor as
may be approved by Issuer as provided herein and who shall carry out the duties
prescribed herein as Issuer's agent to provide for the payment of principal of and
interest on the Bonds as the same shall become due.
"Permitted Investments" shall mean:
· direct obligations of(including obligations issued or held in
book entry form on the books of) the Department of the Treasury of the
United States of America;
· obligations of any of the following federal agencies which
obligations represent full faith and credit of the United States of America,
including:
- Export - Import Bank
- Farm Credit System Financial Assistance Corporation
- USDA - Rural Development
- General Services Administration
- U.S. Maritime Administration
- Small Business Administration
- Govemment National Mortgage Association (GNMA)
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- U.S. Department of Housing & Urban' Development
(PHA's)
- Federal Housing Administration
· repurchase agreements whose underlying collateral consists of
the investments set out above if the Issuer takes delivery of the collateral
either directly or through an authorized custodian. Repurchase agreen3, ents
do not include reverse repurchase agreements;
· senior debt obligations rated "AAA" by Standard & Poor's
Corporation (S&P) or "Aaa" by Moody's Investors Service Inc. (Moody's)
issued by the Federal National Mortgage Association or the Federal Home
Loan Mortgage Corporation;
· U.S. dollar denominated deposit accounts, federal funds and
banker's acceptances with domestic commercial banks which have a rating
on their short-term certificates of deposit on the date of purchase of"A-1" or
"A-l+" by S&P or "P-i" by Moody's and maturing no more than 360 days
after the date of purchase (ratings on holding companies are not considered
as the rating of the bank);
· commercial paper which is rated at the time of purchase in the
single highest classification, "A-1 +" by S&P or "P-1" by Moody's and
which matures not more than 270 days after the date of purchase;
· investments in a money market fund rated "AAAm" or
"AAAm-G" or better by S&P;
· pre-refunded municipal obligations, defined as any bonds or
other obligations of any state of the United States of America or of any
agency, instrumentality or local governmental unit of any such state which
are not callable at the option of the obligor prior to maturity or as to which
irrevocable instructions have been given by the obligor to call on the date
specified in the notice; and (a) which are rated, based on an irrevocable
escrow account or fund (the "escrow"), in the highest rating category of
S&P or Moody's or any successors thereto; or (b)(i) which are fully secured
as to principal and interest and redemption premium, if any, by an escrow
consisting only of cash or direct obligations of the Department of the
Treasury of the United States of America, which escrow may be applied
only to the payment of such principal of and interest and redemption
-7-
premium, if any, on such bonds or other obligations on the maturity date or
dates thereof or the specified redemption date or dates pursuant to such
irrevocable instructions, as appropriate; and (ii) which escrow is sufficient,
as verified by a nationally recognized independent certified public
accountant, to pay principal of and interest and redemption premium, if any,
on the bonds or other obligations described in this paragraph on the maturity
date or dates specified in the irrevocable instructions referred to above, as
appropriate;
· tax exempt bonds as defined and permitted by section 148 of
the Internal Revenue Code and applicable regulations and only if rated
within the two highest classifications as established by at least one of the
standard rating services approved by the superintendent of banking by rule
adopted pursuant to chapter 17A Code of Iowa;
· an investment contract rated within the two highest
classifications as established by at least one of the standard rating services
approved by the superintendent of banking by rule adopted pursuant to
chapter 17A Code of Iowa; and
· Iowa Public Agency Investment Trust.
"Project Fund" or "Construction Account" shall mean the fund
required to be established by this Resolution for the deposit of the proceeds of the
Bonds.
"Registrar" shall mean the City Controller of Iowa City, Iowa, or
such successor as may be approved by Issuer as provided herein and who shall
carry out the duties prescribed herein with respect to maintaining a register of the
owners of the Bonds. Unless otherwise specified, the Registrar shall also act as
Transfer Agent for the Bonds.
"Representation Letter" shall mean the Blanket Issuer Letter of
Representations executed and delivered by the Issuer to DTC on file at DTC.
· "Reserve Fund Requirement" shall mean an amount equal to the
lesser of(a) the maximum annual amount of the principal and interest coming due
on the Bonds and Parity Bonds; (b) 10% of the stated principal amount of the
Bonds and Parity Bonds or (c) 125% of the average annual principal and interest
coming due on the Bonds and Parity Bonds. For purposes of this definition: (1)
-8-
"issue price" shall be substituted for "stated principal amount" for issues with
original issue discount or original issue premium of more than a de minimus
amount and (2) stated principal amount shall not include any portion of an issue
refunded or advance refunded by a subsequent issue.
* "Resolution" shall mean this resolution authorizing the issuance of
the Bonds.
"System" shall mean the Municipal Water Utility of the Issuer and all
properties of every nature hereinafter owned by the Issuer comprising part of or
used as a part of the System, including all improvements and extensions made by
Issuer while any of the Bonds or Parity Bonds remain outstanding; all real and
personal property; and all appurtenances, contracts, leases, franchises and other
intangibles.
· "Tax Exemption Certificate" shall mean the Tax Exemption
Certificate executed by the Treasurer and delivered at the time of issuance and
delivery of the Bonds.
"Treasurer" shall mean the Finance Director or such other officer as
shall succeed to the same duties and responsibilities with respect to the recording
and payment of the Bonds issued hereunder.
"Yield Restricted" shall mean required to be invested at a yield that is
not materially higher than the yield on the Bonds under section 148(a) of the
Internal Revenue Code or regulations issued thereunder.
Section 2. Authorits,. The Bonds authorized by this Resolution shall be issued
pursuant to Division V, Chapter 384 of the City Code of Iowa, and in compliance with all
applicable provisions of the Constitution and laws of the State of Iowa.
Section 3. Authorization and Purpose. There are hereby authorized to be issued,
negotiable, serial, fully registered Water Revenue Bonds of Iowa City, in the County of
Johnson, State of Iowa, Series 2002, in the aggregate amount of $8,500,000 for the
purpose of paying costs of extending, improving and equipping the water utility of the
City, including improvements and extensions to the municipal water treatment plant and
system and improvements set forth in the City's capital improvement plan.
Section 4. Source of Payment. The Bonds herein authorized and Parity Bonds and
the interest thereon shall be payable solely and only out of the net earnings of the System
and shall be a first lien on the future Net Revenues of the System. The Bonds shall not be
general obligations of the Issuer nor shall they be payable in any manner by taxation and
the Issuer shall be in no manner liable by reason of the failure of the said Net Revenues to
be sufficient for the payment of the Bonds.
Section 5. Bond Details. Water Revenue Bonds of the City in the amount of
$8,500,000 shall be issued pursuant to the provisions of Section 384.83 of the City Code
of Iowa for the aforesaid purpose. The Bonds shall be designated "WATER REVENUE
BOND, SERIES 2002", be dated November 1, 2002, and bear interest from the date
thereof, until payment thereof, at the office of the Paying Agent, said interest payable on
July 1, 2003 and semiannually thereafter on the 1 st day of January and July in each year
until maturity at the rates hereinafter provided.
The Bonds shall be executed by the manual or facsimile signature of the Mayor and
attested by the manual or facsimile signature of the City Clerk, and impressed or printed
with the seal of the City and shall be fully registered as to both principal and interest as
provided in this Resolution; principal, interest and premium, if any shall be payable at the
office of the Paying Agent by mailing of a check to the registered owner of the Bond.
The Bonds shall be in the denomination of 5,000 or multiples thereof. Said Bonds shall
mature and bear interest as follows:
Interest Principal Maturity
Rate Amount July 1st
2.00% $400 000 2003
2.50% $295 000 2004
2.50% $310 000 2005
2.75% $315 000 2006
3.00% $325 000 2007
3.20% $340 000 2008
3.45% $350 000 2009
3.45% $365 000 2010
3.45% $385 000 2011
3.45% $400 000 2012
3.60% $410 000 2013
3.75% $430 000 2014
3.90% $445 000 2015
4.05% $465 000 2016
continued next page
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4.15% $485 000 2017
4.25% $505 000 2018
4.35% $535 000 2019
4.45% $555 000 2020
4.55% $580 000 2021
4.65% $605 000 2022
Section 6. Redemption. Bonds maturing after July 1, 2012, may be called for
redemption by the Issuer and paid before maturity on said date or any 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 by lot. The terms of redemption shall be par, plus
accrued interest to date of call.
Thirty days' notice of redemption shall be given by ordinary mail to the registered
owner of the Bond. Failure to give such notice by mail to any registered owner of the
Bonds or any defect therein shall not affect the validity of any proceedings for the
redemption of the Bonds. All Bonds or portions thereof called for redemption will cease
to bear interest after the specified redemption date, provided funds for their redemption are
on deposit at the place of payment.
If selection by lot within a maturity is required, the Registrar shall designat~ the
Bonds to be redeemed by random selection of the names of the registered owners of the
entire annual maturity until the total amount of Bonds to be called has been reached.
Section 7. Issuance of Bonds in Book-Entry Form~ Replacement Bonds.
(a) Notwithstanding the other provisions of this Resolution regarding
registration, ownership, transfer, payment and exchange of the Bonds, unless the Issuer
determines to permit the exchange of Depository Bonds for Bonds in the Authorized
Denominations, the Bonds shall be issued as Depository Bonds in denominations of the
entire principal amount of each maturity of Bonds (or, if a portion of said principal
amount is prepaid, said principal amount less the prepaid amount); and such Depository
Bonds shall be registered in the name of Cede & Co., as nominee of DTC. Payment of
semi-annual interest for any Depository Bond shall be made by wire transfer or New York
Clearing House or equivalent next day funds to the account of Cede & Co. on the interest
payment date for the Bonds at the address indicated in or pursuant to the Representation
Letter.
(b) With respect to Depository Bonds, neither the Issuer nor the Paying Agent
shall have any responsibility or obligation to any Participant or to any Beneficial Owner.
Without limiting the immediately preceding sentence, neither the Issuer nor the Paying
Agent shall have any responsibility or obligation with respect to (i) the accuracy of the
records of DTC or its nominee or of any Participant with respect to any ownership interest
in the Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other
person, other than DTC or its nominee, of any notice with respect to the Bonds, (iii) the
payment to any Participant, any Beneficial Owner or any other person, other than DTC or
its nominee, of any amount with respect to the principal of, premium, if any, or interest on
the Bonds, or (iv) the failure of DTC to provide any information or notification on behalf
of any Participant or Beneficial Owner.
The Issuer and the Paying Agent may treat DTC or its nominee as, and deem DTC
or its nominee to be, the absolute owner of each Bond for the purpose of payment of the
principal of, premium, if any, and interest on such Bond, for the purpose of all other
matters with respect to such Bond, for the purpose of registering transfers with respect to
such Bonds, and for all other purposes whatsoever (except for the giving of certain
Bondholder consents, in accordance with the practices and procedures of DTC as may be
applicable thereto). The Paying Agent shall pay all principal of, premium, if any, and
interest on the Bonds only to or upon the order of the Bondholders as shown on the
Registration Books, and all such payments shall be valid and effective to fully satisfy and
discharge the Issuer's obligations with respect to the principal of, premium, if any, and
interest on the Bonds to the extent so paid. Notwithstanding the provisions of this
Resolution to the contrary (including without limitation those provisions relating to the
surrender of Bonds, registration thereof, and issuance in Authorized Denominations), as
long as the Bonds are Depository Bonds, full effect shall be given to the Representation
Letter and the procedures and practices of DTC thereunder, and the Paying Agent shall
comply therewith.
(c) Upon (i) a determination by the Issuer that DTC is no longer able to carry
out its functions or is otherwise determined unsatisfactory, or (ii) a determination by DTC
that the Bonds are no longer eligible for its depository services or (iii) a determination by
the Paying Agent that DTC has resigned or discontinued its services for the Bonds, the
Issuer shall (A) designate a satisfactory substitute depository as set forth below or, if a
satisfactory substitute is not found, (B) provide for the exchange of Depository Bonds for
replacement Bonds in Authorized Denominations.
(d) If the Issuer determines to provide for the exchange of Depository Bonds for
Bonds in Authorized Denominations, the Issuer shall so notify the Paying Agent and shall
provide the Registrar with a supply of executed unauthenticated Bonds to be so
exchanged. The Registrar shall thereupon notify the owners of the Bonds and provide for
such exchange, and to the extent that the Beneficial Owners are designated as the
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transferee by the owners, the Bonds will be delivered in appropriate form, content and
Authorized Denominations to the Beneficial Owners, as their interests appear.
(e) Any substitute depository shall be designated in writing by the Issuer to the
Paying Agent. Any such substitute depository shall be a qualified and registered "clearing
agency" as provided in Section 17A of the Securities Exchange Act of 1934, as amended.
The substitute depository shall provide for (i) immobilization of the Depository Bonds,
(ii) registration and transfer of interests in Depository Bonds by book entries made on
records of the depository or its nominee and (iii) payment of principal of, premium, if any,
and interest on the Bonds in accordance with and as such interests may appear with
respect to such book entries.
Section 8. Registration of Bonds; Appointment of Registrar; Transfer; Ownership;
Delivery_; and Cancellation.
(a) Registration. The ownership of Bonds may be transferred only by the
making of an entry upon the books kept for the registration and transfer of
ownership of the Bonds, and in no other way. The City Controller is hereby
appointed as Bond Registrar under the terms of this Resolution. Registrar shall
maintain the books of the Issuer for the registration of ownership of the Bonds for
the payment of principal of and interest on the Bonds as provided in this
Resolution. All Bonds shall be negotiable as provided in Article 8 of the Uniform
Commercial Code and Section 384.83(5) of the Code of Iowa, subject to the
provisions for registration and transfer contained in the Bonds and in this
Resolution.
(b) Transfer. The ownership of any Bond may be transferred only upon the
Registration Books kept for the registration and transfer of Bonds and only upon
surrender thereof at the office of the Registrar together with an assignment duly
executed by the holder or his duly authorized attorney in fact in such form as shall
be satisfactory to the Registrar, along with the address and social security number
or federal employer identification number of such transferee (or, if registration is to
be made in the name of multiple individuals, of all such transferees). In the event
that the address of the registered owner ora Bond (other than a registered owner
which is the nominee of the broker or dealer in question) is that of a broker or
dealer, there must be disclosed on the Registration Books the information
pertaining to the registered owner required above. Upon the transfer of any such
Bond, a new fully registered Bond, of any denomination or denominations
permitted by this Resolution in aggregate principal amount equal to the unmatured
and unredeemed principal amount of such transferred fully registered Bond, and
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bearing interest at the same rate and maturing on the same date or dates shall be
delivered by the Registrar.
(c) Registration of Transferred Bonds. In all cases of the transfer of the
Bonds, the Registrar shall register, at the earliest practicable time, on the
Registration Books, the Bonds, in accordance with the provisions of this
Resolution.
(d) Ownership. As to any Bond, the person in whose name the ownership
of the same shall be registered on the Registration Books of the Registrar shall be
deemed and regarded as the absolute owner thereof for all purposes, and payment
of or on account of the principal of any such Bonds and the premium, if any, and
interest thereon shall be made only to or upon the order of the registered owner
thereof or his legal representative. All such payments shall be valid and effectual
to satisfy and discharge the liability upon such Bond, including the interest thereon,
to the extent of the SUll2 or sums so paid.
(e) Cancellation. All Bonds which have been redeemed shall not be
reissued but shall be cancelled by the Registrar. All Bonds which are cancelled by
the Registrar shall be destroyed and a certificate of the destruction thereof shall be
furnished promptly to the Issuer; provided that if the Issuer shall so direct, the
Registrar shall forward the cancelled Bonds to the Issuer.
(0 Non-Presentment of Bonds. In the event any payment check
representing payment of principal of or interest on the Bonds is returned to the
Paying Agent or is not presented for payment of principal at the maturity or
redemption date, if funds sufficient to pay such principal of or interest on Bonds
shall have been made available to the Paying Agent for the benefit of the owner
thereof, all liability of the Issuer to the owner thereof for such interest or payment
of such Bonds shall forthwith cease, terminate and be completely discharged, and
thereupon it shall be the duty of the Paying Agent to hold such funds, without
liability for interest thereon, for the benefit of the owner of such Bonds who shall
thereafter be restricted exclusively to such funds for any claim of whatever nature
on his part under this Resolution or on, or with respect to, such interest or Bonds.
The Paying Agent's obligation to hold such funds shall continue for a period equal
to two years and six months following the date on which such interest or principal
became due, whether at maturity, or at the date fixed for redemption thereof, or
otherwise, at which time the Paying Agent, shall surrender any remaining funds so
held to the Issuer, whereupon any claim under this Resolution by the Owners of
such interest or Bonds of whatever nature shall be made upon the Issuer.
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Section 9. Reissuance of Mutilated, Destroyed, Stolen or Lost B6nds. In case any
outstanding Bond shall become mutilated or be destroyed, stolen or lost, the Issuer shall at
the request of Registrar authenticate and deliver a new Bond of like tenor and amount as
the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such
mutilated Bond to Registrar, upon surrender of such mutilated Bond, or in lieu of and
substitution for the Bond destroyed, stolen or lost, upon filing with the Registrar evidence
satisfactory to the Registrar and Issuer that such Bond has been destroyed, stolen or lost
and proof of ownership thereof, and upon fumishing the Registrar and Issuer with
satisfactory indemnity and complying with such other reasonable regulations as the Issuer
or its agent may prescribe and paying such expenses as the Issuer may incur in connection
therewith.
Section 10. Record Date. Payments of principal and interest, otherwise than upon
full redemption, made in respect of any Bond, shall be made to the registered holder
thereof or to their designated agent as the same appear on the books of the Registrar on
the 15th day preceding the payment date. All such payments shall fully discharge the
obligations of the Issuer in respect of such Bonds to the extent of the payments so made.
Payment of principal shall only be made upon surrender of the Bond to the Paying Agent.
Section 11. Execution, Authentication and Delivery of the Bonds. Upon the
adoption of this Resolution, the Mayor and Clerk shall execute and deliver the Bonds to
the Registrar, who shall authenticate the Bonds and deliver the same to or upon order of
the Original Purchaser. No Bond shall be valid or obligatory for any purpose or shall be
entitled to any right or benefit hereunder unless the Registrar shall duly endorse and
execute on such Bond a Certificate of Authentication substantially in the form of the
Certificate herein set forth. Such Certificate upon any Bond executed on behalf of the
Issuer shall be conclusive evidence that the Bond so authenticated has been duly issued
under this Resolution and that the holder thereof is entitled to the benefits of this
Resolution.
Section 12. Right to Name Substitute Paying Agent or Registrar. Issuer reserves
the right to name a substitute, successor Registrar or Paying Agent upon giving prompt
written notice to each registered Bondholder.
-15-
Section 13. Form of Bond. Bonds shall be printed in substantial ~ompliance with
standards proposed by the American Standards Institute substantially in the form as
follows:
(6) [ [ (6) [
(*) I [ (8) I
(1)
I (2) 1 I (3) I I (4) I I (5) I
(9)
I (9a) I
(10)
(Continued on the back of this Bond)
I (11)(12)(13) I (14) l[ (15)
FIGURE 1
(Front)
-16-
(to)
(Continued)
FIGURE 2
(Back)
-17-
The text of the Bonds to be located thereon at the item numbers shown shall be as
follows:
Item 1, figure 1 = "STATE OF IOWA"
"COUNTY OF JOHNSON"
"CITY OF IOWA CITY"
"WATER REVENUE BOND"
"SERIES 2002"
Item 2, figure 1 = Rate:
Item 3, figure 1 = Maturity:
Item 4, figure 1 = Bond Date: November 1, 2002
Item 5, figure 1 = Cusip No.:
Item 6, figure 1 = "Registered"
Item 7, figure 1 = Certificate No.
Item 8, figure 1 = Principal Amount: $
Item 9, figure 1 = The City of Iowa City, Iowa, a municipal corporation
organized and existing under and by virtue of the Constitution and laws of the State of
Iowa (the "Issuer"), for value received, promises to pay from the source and as hereinafter
provided, on the maturity date indicated above, to
Item 9A, figure 1 = (Registration panel to be completed by Registrar or Printer
with name of Registered Owner).
Item 10, figure 1 = or registered assigns, the principal sum of(principal amount
written out) THOUSAND DOLLARS in lawful money of the United States of America,
on the maturity date shown above, only upon presentation and surrender hereof at the
office of the City Controller, Paying Agent of this issue, or its successor, with interest on
said sum from the date hereof until paid at the rate per annum specified above, payable on
July 1, 2003, and semiannually thereafter on the 1st day of January and July in each year.
Interest and principal shall be paid to the registered holder of the Bond as shown
on the records of ownership maintained by the Registrar as of the 15th day preceding such
interest payment date. Interest shall be computed on the basis of a 360-day year of twelve
30-day months.
This Bond is issued pursuant to the provisions of Section 384.83 of the City Code
of Iowa, as amended, for the purpose of paying costs of extending, improving and
equipping the water utility of the City, including improvements and extensions to the
-18-
municipal water treatment plant and system and improvements set forth in the City's
capital improvement plan, in conformity to a Resolution of the Council of said City duly
passed and approved.
Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a limited purpose trust company ("DTC"), to the Issuer or its
agent for registration of transfer, exchange or payment, and any certificate issued is.
registered in the name of Cede & Co. or such other name as requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other entity as
is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.
Bonds maturing after July 1, 2012, may be called for redemption by the Issuer and
paid before maturity on said date or any 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 by lot. The terms of redemption shall be par, plus accrued interest to date of call.
Thirty days' notice of redemption shall be given by ordinary mail to the registered
owner of the Bond. Failure to give such notice by mail to any registered owner of the
Bonds or any defect therein shall not affect the validity of any proceedings for the
redemption of the Bonds. All Bonds or portions thereof called for redemption will cease
to bear interest after the specified redemption date, provided funds for their redemption are
on deposit at the place of payment.
If selection by lot within a maturity is required, the Registrar shall designate the
Bonds to be redeemed by random selection of the names of the registered owners of the
entire annual maturity until the total amount of Bonds to be called has been reached.
Ownership of this Bond may be transferred only by transfer upon the books kept
for such purpose by the City Controller, the Registrar. Such transfer on the books shall
occur only upon presentation and surrender of this Bond at the office of the Registrar as
designated below, together with an assignment duly executed by the owner hereof or his
duly authorized attorney in the form as shall be satisfactory to the Registrar. Issuer
reserves the right to substitute the Registrar and Paying Agent but shall, however,
promptly give notice to registered bondholders of such change. All Bonds shall be
negotiable as provided in Article 8 of the Uniform Commercial Code and Section
384.83 (5) o f the Code of Iowa, subject to the provisions for registration and transfer
contained in the Bond Resolution.
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This Bond and the series of which it forms a part, other bonds ranking on a parity
therewith, and any additional bonds or notes which may be hereafter issued and
outstanding from time to time on a parity with said Bonds, as provided in the Bond
Resolution of which notice is hereby given and is hereby made a part hereof, are payable
fi.om and secured by a pledge of the Net Revenues of the Municipal Water Utility (the
"System"), as defined and provided in said Resolution. There has heretofore been
established and the City covenants and agrees that it will maintain just and equitable rates
or charges for the use of and service rendered by said System in each year for the payment
of the proper and reasonable expenses of operation and maintenance of said System and
for the establishment of a sufficient sinking fund to meet the principal of and interest on
this series of Bonds, and other bonds ranking on a parity therewith, as the same become
due. This Bond is not payable in any manner by taxation and under no circumstances
shall the City be in any manner liable by reason of the failure of said net earnings to be
sufficient for the payment hereof.
And it is hereby represented and certified that all acts, conditions and things
requisite, according to the laws and Constitution of the State of Iowa, to exist, to be had,
to be done, or to be performed precedent to the lawful issue of this Bond, have been
existent, had, done and performed as required by law.
IN TESTIMONY WHEREOF, said City by its City Council has caused this Bond
to be signed by the facsimile signature of its Mayor and attested by the facsimile
signature of its Clerk, with the seal of said City printed hereon, and authenticated by the
manual signature of an authorized representative of the Registrar, the City Controller,
Iowa City, Iowa.
Item 11, figure 1 = Date of authentication:
Item 12, figure 1 - This is one of the Bonds described in the within mentioned
Resolution, as registered by the City Controller.
CITY CONTROLLER, Registrar
By:
Authorized Signature
-20~
Item 13, figure 1 = Registrar and Transfer Agent: City Controller
Paying Agent: City Controller
SEE REVERSE FOR CERTAIN DEFINITIONS
Item 14, figure 1 = (Seal)
Item 15, figure 1 = [Signature Block]
CITY OF IOWA CITY, IOWA
By:Mayor's facsimile signature
Mayor
ATTEST:
By:City Clerk's facsimile signature
City Clerk
Item 16, figure 2 = [Assignment Block]
[Information Required for Registration]
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers tmto
(Social Security or Tax Identification No. )
the within Bond and does hereby irrevocably constitute and appoint attorney in
fact to transfer the said Bond on the books kept for registration of the within Bond, with
full power of substitution in the premises.
Dated
(Person(s) executing this Assignment sign(s) here)
SIGNATURE )
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GUARANTEED )
IMPORTANT - READ CAREFULLY
The signature(s) to this Power must correspond with the name(s) as written
upon the face of the certificate(s) or bond(s) in every particular without
alteration or enlargement or any change whatever. Signature guarantee
must be provided in accordance with the prevailing standards and
procedures of the Registrar and Transfer Agent. Such standards and
procedures may require signature to be guaranteed by certain eligible
guarantor institutions that participate in a recognized signature guarantee
program.
iNFORMATION REQUIRED FOR REGISTRATION OF TRANSFER
Name of Transferee(s)
Address of Transferee(s)
Social Security or Tax Identification
Number of Transferee(s)
Transferee is a(n):
Individual* Corporation
Partnership Trust
*If the Bond is to be registered in the names of multiple individual owners, the names of
all such owners and one address and social security number must be provided.
The following abbreviations, when used in the inscription on the face of this Bond,
shall be construed as though written out in full according to applicable laws or
regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common
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IA UNIF TRANS MIN ACT - . ......... Custodian ..........
(Cust) (Minor)
under Iowa Uniform Transfers
to Minors Act ................
(State)
ADDITIONAL ABBREVIATIONS MAY ALSO BE
USED THOUGH NOT IN THE ABOVE LIST
Section 14. Equality of Lien. The timely payment of principal of and interest on
the Bonds and Parity Bonds shall be secured equally and ratably by the Net Revenues of
the System without priority by reason of number or time of sale or delivery; and the Net
Revenues of the System are hereby irrevocably pledged to the timely payment of both
principal and interest as the same become due.
Section 15. Application of Bond Proceeds - Project Fund. Proceeds of the Bonds
shall be applied as follows:
· An amount equal to accrued interest shall be deposited in the Sinking Fund
for application to the first payment of interest on the Bonds.
· An amount sufficient to meet the Reserve Fund Requirement of the Bonds
shall be deposited in the Reserve Fund.
· The balance of the proceeds shall be deposited to the Project Fund and
expended therefrom for the purposes of issuance.
Any amounts on hand in the Project Fund shall be available for the payment of the
principal of or interest on the Bonds at any time that other funds of the System shall be
insufficient to the purpose, in which event ~uch funds shall be repaid to the Project Fund
at the earliest opportunity. Any balance on hand in the Project Fund and not immediately
required for its purposes may be invested not inconsistent with limitations provided by
law, the Internal Revenue Code and this Resolution. Any excess proceeds remaining on
hand after completion of the purpose of issuance shall be paid into the Improvement Fund
to the maximum required amounts and any remaining amounts shall be used to call or
otherwise retire Bonds.
Section 16. User Rates. There has heretofore been established and published as
required by law, just and equitable rates or charges for the use of the service rendered by
the System. Said rates or charges to be paid by the owner of each and every lot, parcel of
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real estate, or building that is connected with and uses the System, by or through any part
of the System or that in any way uses or is served by the System.
Any revenues paid and collected for the use of the System and its services by the
Issuer or any department, agency or instrumentality of the Issuer shall be used and
accounted for in the same manner as any other revenues derived from the operations of
the System.
Section 17. Application of Revenues. From and after the delivery of any Bonds,
and as long as any of the Bonds or Parity Bonds shall be outstanding and unpaid either as
to principal or as to interest, or until all of the Bonds and Parity Bonds then outstanding
shall have been discharged and satisfied in the manner provided in this Resolution, the
entire income and revenues of the System shall be deposited as collected in a fund to be
known as the Water Utility Revenue Fund (the "Revenue Fund"), and shall be disbursed
only as follows:
(a) Operation and Maintenance Fund. Money in the Revenue Fund shall
first be disbursed to make deposits into a separate and special fund to pay current
expenses. The fund shall be known as the Water Utility Revenue Operation and
Maintenance Fund (the "Operation and Maintenance Fund"). There shall be
deposited in the Operation and Maintenance Fund each month an amount sufficient
to meet the current expenses of the month plus an amount equal to 1/12th of
expenses payable on an annual basis such as insurance. After the first day of the
month, further deposits may be made to this account from the Revenue Fund to the
extent necessary to pay current expenses accrued and payable to the extent that
funds are not available in the Surplus Fund.
(b) Sinking Fund. Money in the Revenue Fund shall next be disbursed to
make deposits into a separate and special fund to pay the principal and interest
requirements of the Fiscal Year on the Bonds and Parity Bonds. The fund shall be
known as the Water Utility Revenue Bond and Interest Sinking Fund (the "Sinking
Fund"). The required amount to be deposited in the Sinking Fund in any month
shall be the equal monthly amount necessary to pay in full the installment of
interest coming due on the next interest payment date on the then outstanding
Bonds and Parity Bonds plus the equal monthly amount necessary to pay in full the
installment of principal coming due on such Bonds on the next succeeding
principal payment date until the full amount of such installment is on hand. If for
any reason the amount on hand in the Sinking Fund exceeds the required amount,
the excess shall forthwith be withdrawn and paid into the Revenue Fund. Money
~24-
in the Sinking Fund shall be used solely for the purpose of paying principal of and
interest on the Bonds and Parity Bonds as the same shall become due and payable.
(c) Reserve Fund. Money in the Revenue Fund shall next be disbursed to
maintain a debt service reserve in an amount equal to the Reserve Fund
Requirement. Such fund shall be known as the Water Utility Revenue Debt
Service Reserve Fund (the "Reserve Fund"). In each month there shall be
deposited in the Reserve Fund an amount equal to 25 percent of the amount
required by this Resolution to be deposited in such month in the Sinking Fund;
provided, however, that when the amount on deposit in the Reserve Fund shall be
not less than the Reserve Fund Requirement, no further deposits shall be made into
the Reserve Fund except to maintain such level, and when the amount on deposit in
the Reserve Fund is greater than the balance required above, such additional
amounts shall be withdrawn and paid into the Revenue Fund. Money in the
Reserve Fund shall be used solely for the purpose of paying principal at maturity of
or interest on the Bonds and Parity Bonds for the payment of which insufficient
money shall be available in the Sinking Fund. Whenever it shall become necessary
to so use money in the Reserve Fund, the payments required above shall be
continued or resumed until it shall have been restored to the required minimum
amount.
(d) Improvement Fund. Money in the Revenue Fund shall next be
disbursed to maintain a fund to be known as the Water Utility Revenue
Improvement Fund (the "Improvement Fund"). The minimum amount to be
deposited in the Improvement Fund each month shall be $5,000; provided,
however, that when the amount of said deposits in said fund shall equal or exceed
$450,000, no further monthly deposits need be made into the Improvement Fund
except to maintain it at such level. Money in the Improvement Fund not otherwise
specially limited by other provisions of this Resolution shall be used solely for the
purpose of paying principal of or interest on the Bonds or Parity Bonds when there
shall be insufficient money in the Sinking Fund and the Reserve Fund; and to the
extent not required for the foregoing, to pay the cost of extraordinary maintenance
expenses or repairs, renewals and replacements not included in the annual budget
of revenues and current expenses, payment of rentals on any part of the System or
payments due for any property purchased as a part of the System, and for capital
improvements to the System. Whenever it shall become necessary to so use money
in the hnprovement Fund, the payments required above shall be continued or
resumed until it shall have been restored to the required minimum amount.
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(e) Subordinate Obligations. Money in the Revenue Func~ may next be
used to pay principal of and interest on (including reasonable reserves therefor) any
other obligations which by their terms shall be payable from the revenues of the
System, but subordinate to the Bonds and Parity Bonds, and which have been
issued for the purposes of extensions and improvements to the System or to retire
the Bonds or Parity Bonds in advance of maturity, or to pay for extraordinary
repairs or replacements to the System.
(f) Surplus Revenue. All money thereafter remaining in the Revenue Fund
at the close of each month may be deposited in any of the funds created by this
Resolution, may be used to pay for extraordinary repairs or replacements to the
System, or may be used to pay or redeem the Bonds or Parity Bonds any of them,
or for any lawful purpose.
Money in the Revenue Fund shall be allotted and paid into the various funds and
accounts hereinbefore referred to in the order in which said funds are listed, on a
cumulative basis on the 10th day of each month, or on the next succeeding business day
when the 10th shall not be a business day; and if in any month the money in the Revenue
Fund shall be insufficient to deposit or transfer the required amount in any of said funds
or accounts, the deficiency shall be made up in the following month or months after
payments into all funds and accounts enjoying a prior claim to the revenues shall have
been met in full.
Section 17.1. Outstanding Bonds. Nothing in this Resolution shall be construed to
impair the rights vested in the Outstanding Bonds. The amounts herein required to be
paid into the various funds named in this Resolution shall be inclusive of payments
required in respect to the Outstanding Bonds. The provisions of the resolution or
resolutions referred to in Section 1 of this Resolution and the provisions of this
Resolution are to be construed wherever possible so that the same will not be in conflict.
In the event such construction is not possible, the provisions of the resolution first
adopted shall prevail until such time as the bonds authorized by said resolution have been
paid in full or otherwise satisfied as therein provided at which time the provisions of this
Resolution shall again prevail.
Section 18. Investments. Subject to Section 17.1 of the Resolution adopted
November 21, 2000, moneys on hand in the Project Fund and all of the funds provided by
this Resolution may be invested only in Permitted Investments or deposited in financial
institutions which are members of the Federal Deposit Insurance Corporation, or its
equivalent successor, and the deposits in which are insured thereby and all such deposits
exceeding thc maximum amount insured from time to time by FDIC or its equivalent
-26-
successor in any one financial institution shall be continuously secured in compliance
with the State Sinking Fund provided under Chapter 12C of the Code of Iowa, 2001, as
amended or otherwise by a valid pledge of direct obligations of the United States
Government having an equivalent market value. All such interim investments shall
mature before the date on which the moneys are required for the purposes for which said
fund was created or otherwise as herein provided but in no event maturing in more than
three years in the case of the Reserve Fund. The provisions of this Section shall not be
construed to require the Issuer to maintain separate bank accounts for the funds created by
this Section; except the Sinking Fund and the Reserve Fund shall be maintained in a
separate account but may be invested in conjunction with other funds of the City but
designated as a trust fund on the books and records of the City.
All income derived from such investments shall be deposited in the Revenue Fund
and shall be regarded as revenues of the System except earnings on investments of the
Project Fund shall be deposited in and expended from the Project Fund. Investments shall
at any time necessary be liquidated and the proceeds thereof applied to the purpose for
which the respective fund was created.
Section 19. Covenants Regarding the Operation of the System. The Issuer hereby
covenants and agrees with each and every holder of the Bonds and Parity Bonds:
(a) Maintenance and Efficiency. The Issuer will maintain the System in
good condition and operate it in an efficient manner and at reasonable cost.
(b) Sufficiency of Rates. On or before the beginning of each Fiscal Year
the Governing Body will adopt or continue in effect rates for all services rendered
by the System determined to be sufficient to produce Net Revenues for the next
succeeding Fiscal Year adequate to pay principal and interest requirements and
create reserves as provided in this Resolution but not less than 110 percent of the
principal and interest requirements of the Fiscal Year. No free use of the System
by the Issuer or any department, agency or instrumentality of the Issuer shall be
permitted except upon the determination of the Governing Body that the rates and
changes otherwise in effect are sufficient to provide Net Revenues at least equal to
the requirements of this subsection.
(c) Insurance. The Issuer shall maintain insurance for the benefit of the
bondholders on the insurable portions of the System of a kind and in an amount
which normally would be carried by private companies engaged in a similar kind
of business. The proceeds of any insurance, except public liability insurance, shall
-27-
be used to repair or replace the part or parts of the System damaged or destroyed,
or if not so used shall be placed in the Improvement Fund.
(d) Accounting and Audits. The Issuer will cause to be kept proper books
and accounts adapted to the System and in accordance with generally accepted
accounting practices, and will diligently act to cause the books and accounts to be
audited annually and reported upon not later than 180 days after the end of each
Fiscal Year by an Independent Auditor and will provide copies of the audit report
to the holders of any of the Bonds and Parity Bonds upon request. The holders of
any of the Bonds and Parity Bonds shall have at all reasonable times the right to
inspect the System and the records, accounts and data of the Issuer relating thereto.
(e) State Laws. The Issuer will faithfully and punctually perform all duties
with reference to the System required by the Constitution and laws of the State of
Iowa, including the making and collecting of reasonable and sufficient rates for
services rendered by the System as above provided, and will segregate the revenues
of the System and apply said revenues to the funds specified in this Resolution.
(f) Property. The Issuer will not sell, lease, mortgage or in any manner
dispose of the System, or any capital part thereof, including any and all extensions
and additions that may be made thereto, until satisfaction and discharge of all of
the Bonds and Parity Bonds shall have been provided for in the manner provided in
this Resolution; provided, however, that this covenant shall not be construed to
prevent the disposal by the Issuer of property which in the judgment of its
Governing Body has become inexpedient or unprofitable to use in connection with
the System, or if it is to the advantage of the System that other property of equal or
higher value be substituted therefor, and provided further that the proceeds of the
disposition of such property shall be placed in a revolving fund and used in
preference to other sources for capital improvements to the System. Any such
proceeds of the disposition of property acquired with the proceeds of the Bonds or
Parity Bonds shall not be used to pay principal or interest on the Bonds and Parity
Bonds or for payments into the Sinking or Reserve Funds.
(g) Fidelity Bond. The Issuer shall maintain fidelity bond coverage in
amounts which normally would be carried by private companies engaged in a
similar kind of business on each officer or employee having custody of funds of the
System.
(h) Additional Charges. The Issuer will require proper connecting charges
and/or other security for the payment of service charges.
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(i) Budget. The Governing Body of the Issuer shall appro~,e and conduct
operations pursuant to a system budget of revenues and current expenses for each
Fiscal Year. Such budget shall take into account revenues and current expenses
during the current and last preceding Fiscal Years. Copies of such budget and any
amendments thereto shall be provided to the holders of any of the Bonds upon
request.
Section 20. Remedies of Bondholders. Except as herein expressly limited the
holder or holders of the Bonds and Parity Bonds shall have and possess all the rights of
action and remedies afforded by the common law, the Constitution and statutes of the
State of Iowa, and of the United States of America, for the enforcement of payment of
their Bonds and interest thereon, and of the pledge of the revenues made hereunder, and
of all covenants of the Issuer hereunder.
Section 21. Prior Lien and Parity Bonds. The Issuer will issue no other Bonds or
obligations of any kind or nature payable from or enjoying a lien or claim on the property
or revenues of the System having priority over the Bonds or Parity Bonds.
Additional Bonds may be issued on a parity and equality of rank with the Bonds
with respect to the lien and claim of such Additional Bonds to the revenues of the System
and the money on deposit in the funds adopted by this Resolution, for the following
purposes and under the following conditions, but not otherwise:
(a) For the purpose of refunding any of the Bonds or Parity Bonds which
shall have matured or which shall mature not later than three months after the date
of delivery of such refunding Bonds and for the payment of which there shall be
insufficient money in the Sinking Fund and the Reserve Fund;
(b) For the purpose of refunding any Bonds, Parity Bonds or general
obligation bonds outstanding, or making extensions, additions, improvements or
replacements to the System, if all of the following conditions shall have been met:
(i) before any such Additional Bonds ranking on a parity are issued,
there will have been procured and filed with the Clerk, a statement of an
Independent Auditor, independent financial consultant or a Consulting
Engineer, not a regular employee of the Issuer, reciting the opinion based
upon necessary investigations that the Net Revenues of the System for the
preceding Fiscal Year (xvith adjustments as hereinafter provided) were equal
to at least 1.25 times the maximum amount that will be required in any
Fiscal Year prior to the longest maturity of any of the Bonds or Parity Bonds
-29-
for both principal of and interest on all Bonds or Parity Bonds then
outstanding which are payable from the net earnings of the System and the
Additional Bonds then proposed to be issued.
For the purpose of determining the Net Revenues of the System for
the preceding Fiscal Year as aforesaid, the amount of the gross revenues for
such year may be adjusted by an Independent Auditor, independent financial
consultant or a Consulting Engineer, not a regular employee of the Issuer, so
as to reflect any changes in the amount of such revenues which would have
resulted had any revision of the schedule of rates or charges imposed at or
prior to the time of the issuance of any such Additional Bonds been in effect
during all of such preceding Fiscal Year.
(ii) the Additional Bonds must be payable as to principal and as to
interest on the same month and day as the Bonds herein authorized.
(iii) for the purposes of this Section, principal and interest falling
due on the first day of a Fiscal Year shall be deemed a requirement of the
immediately preceding Fiscal Year.
(iv) for the purposes of this Section, general obligation bonds shall
be refunded only upon a finding of necessity by the Governing Body and
only to the extent the general obligation bonds were issued or the proceeds
of them were expended for the System.
(v) for purposes of this Section, "preceding Fiscal Year" shall be the
most recently completed Fiscal Year for which audited financial statements
prepared by a certified public accountant are issued and available, but in no
event a Fiscal Year which ended more than eighteen months prior to the date
of issuance of the Additional Bonds.
Section 22. Disposition of Bond Proceeds; Arbitrage Not Permitted. The Issuer
reasonably expects and covenants that no use will be made of the proceeds from the
issuance and sale of the Bonds issued hereunder which will cause any of the Bonds to be
classified as arbitrage bonds within the meaning of Section 148(a) and (b) of the Internal
Revenue Code of the United States, and that throughout the term of said Bonds it will
comply with the requirements of said statute and regulations issued thereunder.
To the best knowledge and belief of the Issuer, there are no facts or circumstances
that would materially change the foregoing statements or the conclusion that it is not
-30-
expected that the proceeds of the Bonds will be used in a manner that w~uld cause the
Bonds to be arbitrage bonds. Without limiting the generality of the foregoing, the Issuer
hereby agrees to comply with the provisions of the Tax Exemption Certificate and the
provisions of the Tax Exemption Certificate are hereby incorporated by reference as part
of this Resolution. The Treasurer is hereby directed to make and insert all calculations
and determinations necessary to complete the Tax Exemption Certificate in all respects
and to execute and deliver the Tax Exemption Certificate at issuance of the Bonds to
certify as to the reasonable expectations and covenants of the Issuer at that date.
The Issuer covenants that it will treat as Yield Restricted any proceeds of the
Bonds remaining unexpended after three years from the issuance and any other funds
required by the Tax Exemption Certificate to be so treated. If any investments are held
with respect to the Bonds and Parity Bonds, the Issuer shall treat the same for the purpose
of restricted yield as held in proportion to the original principal amounts of each issue.
The Issuer covenants that it will exceed any investment yield restriction provided
in this Resolution only in the event that it shall first obtain an opinion of recognized bond
counsel that the proposed investment action will not cause the Bonds to be classified as
arbitrage bonds under Section 148(a) and (b) of the Internal Revenue Code or regulations
issued thereunder.
The Issuer covenants that it will proceed with due diligence to spend the proceeds
of the Bonds for the purpose set forth in this Resolution. The Issuer further covenants
that it will make no change in the use of the proceeds available for the construction of
facilities or change in the use of any portion of the facilities constructed therefrom by
persons other than the Issuer or the general public unless it has obtained an opinion of
bond counsel or a revenue ruling that the proposed project or use will not be of such
character as to cause interest on any of the Bonds not to be exempt from federal income
taxes in the hands of holders other than substantial users of the project, under the
provisions of Section 142(a) of the Internal Revenue Code of the United States, related
statutes and regulations.
Section 23. Additional Covenants, Representations and Warranties of the Issuer.
The Issuer certifies and covenants with the purchasers and holders of the Bonds from time
to time outstanding that the Issuer through its officers, (a) will make such further specific
covenants, representations and assurances as may be necessary or advisable; (b) comply
with all representations, covenants and assurances contained in the Tax Exemption
Certificate, which Tax Exemption Certificate shall constitute a part of the contract
between the Issuer and the owners of the Bonds; (c) consult with bond counsel (as defined
in the Tax Exemption Certificate); (d) pay to the United States, as necessary, such sums of
-31-
money representing required rebates of excess arbitrage profits relating to the Bonds; (e)
file such forms, statements and supporting documents as may be required and in a timely
manner; and (f) if deemed necessary or advisable by its officers, to employ and pay fiscal
agents, financial advisors, attorneys and other persons to assist the Issuer in such
compliance.
Section 24. Not Qualified Tax-Exempt Obligations. The Bonds shall not be
designated as qualified tax-exempt obligations as defined by Section 265Co) of the
Internal Revenue Code of the United States, as amended.
Section 25. Discharge and Satisfaction of Bonds. The covenants, liens and
pledges entered into, created or imposed pursuant to this Resolution may be fully
discharged and satisfied with respect to the Bonds and Parity Bonds, or any of them, in
any one or more of the following ways:
(a) By paying the Bonds or Parity Bonds when the same shall become due
and payable; and
(b) By depositing in trust with the Treasurer, or with a corporate trustee
designated by the Governing Body for the payment of said obligations and
irrevocably appropriated exclusively to that purpose an amount in cash or direct
obligations of the United States the maturities and income of which shall be
sufficient to retire at maturity, or by redemption prior to maturity on a designated
date upon which said obligations may be redeemed, all of such obligations
outstanding at the time, together with the interest thereon to maturity or to the
designated redemption date, premiums thereon, if any that may be payable on the
redemption of the same; provided that proper notice of redemption of all such
obligations to be redeemed shall have been previously published or provisions
shall have been made for such publication.
Upon such payment or deposit of money or securities, or both, in the amount and
manner provided by this Section, all liability of the Issuer with respect to the Bonds or
Parity Bonds shall cease, determine and be completely discharged, and the holders thereof
shall be entitled only to payment out of the money or securities so deposited.
Section 26. Resolution a Contract. The provisions of this Resolution shall
constitute a contract between the Issuer and the holder or holders of the Bonds and Parity
Bonds, and after the issuance of any of the Bonds no change, variation or alteration of any
kind in the provisions of this Resolution shall be made in any manner, except as provided
in the next succeeding Section, until such time as all of the Bonds and Parity Bonds, and
-32-
interest due thereon, shall have been satisfied and discharged as provided in this
Resolution.
Section 27. Amendment of Resolution Without Consent. The Issuer may, without
the consent of or notice to any of the holders of the Bonds and Parity Bonds, amend or
supplement this Resolution for any one or more of the following purposes:
(a) to cure any ambiguity, defect, omission or inconsistent provision in this
Resolution or in the Bonds or Parity Bonds; or to comply with any application
provision of law or regulation of federal or state agencies; provided, however, that
such action shall not materially adversely affect the interests of the holders of the
Bonds or Parity Bonds;
(b) to change the terms or provisions of this Resolution to the extent
necessary to prevent the interest on the Bonds or Parity Bonds from being
includable within the gross income of the holders thereof for federal income tax
purposes;
(c) to grant to or confer upon the holders of the Bonds or Parity Bonds any
additional rights, remedies, powers or authority that may lawfully be granted to or
conferred upon the holders of the Bonds;
(d) to add to the covenants and agreements of the Issuer contained in this
Resolution other covenants and agreements of, or conditions or restrictions upon,
the Issuer or to surrender or eliminate any right or power reserved to or conferred
upon the Issuer in this Resolution; or
(e) to subject to the lien and pledge of this Resolution additional pledged
revenues as may be permitted by law.
Section 28. Amendment of Resolution Requiring Consent. This Resolution may
be amended from time to time if such mnendment shall have been consented to by holders
of not less than two-thirds in principal amount of the Bonds and Parity Bonds at any time
outstanding (not including in any case any Bonds which may then be held or owned by or
for the account of the Issuer, but including such Refunding Bonds as may have been
issued for the purpose of refunding any of such Bonds if such Refunding Bonds shall not
then be owned by the Issuer); but this Resolution may not be so amended in such manner
as to:
-33-
(a) Make any change in the maturity or interest rate 0fthe-Bonds, or modify
the terms of payment of principal of or interest on the Bonds or any of them or
impose any conditions with respect to such payment;
(b) Materially affect the rights of the holders of less than all of the Bonds
and Parity Bonds then outstanding; and
(c) Reduce the percentage of the principal amount of Bonds, the consent of
the holders of which is required to effect a further amendment.
Whenever the Issuer shall propose to amend this Resolution under the provisions
of this Section, it shall cause notice of the proposed amendment to be filed with the
Original Purchaser and to be mailed by certified mail to each registered owner of any
Bond as shown by the records of the Registrar. Such notice shall set forth the nature of
the proposed amendment and shall state that a copy of the proposed amendatory
Resolution is on file in the office of the City Clerk.
Whenever at any time within one year from the date of the mailing of said notice
there shall be filed with the City Clerk an instrument or instruments executed by the
holders of at least two-thirds in aggregate principal amount of the Bonds then outstanding
as in this Section defined, which instrument or instruments shall refer to the proposed
amendatory Resolution described in said notice and shall specifically consent to and
approve the adoption thereof, thereupon, but not otherwise, the Governing Body of the
Issuer may adopt such amendatory Resolution and such Resolution shall become effective
and binding upon the holders of all of the Bonds and Parity Bonds.
Any consent given by the holder of a Bond pursuant to the provisions of this
Section shall be irrevocable for a period of six months from the date of the instrument
evidencing such consent and shall be conclusive and binding upon all future holders of
the same Bond during such period. Such consent may be revoked at any time after six
months from the date of such instrument by the holder who gave such consent or by a
successor in title by filing notice of such revocation with the City Clerk.
The fact and date of the execution of any instrument under the provisions of this
Section may be proved by the certificate of any officer in any jurisdiction who by the laws
thereof is authorized to take acknowledgments of deeds within such jurisdiction that the
person signing such instrument acknowledged before him the execution thereof, or may
be proved by an affidavit ora witness to such execution sworn to before such officer.
-34-
The amount and numbers of the Bonds held by any person executing such
instrument and the date of his holding the same may be proved by an affidavit by such
person or by a certificate executed by an officer of a bank or trust company showing that
on the date therein mentioned such person had on deposit with such bank or trust
company the Bonds described in such certificate.
Section 29. Severabilit¥. If any section, paragraph, or provision of this Resolution
shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the
remaining provisions.
Section 30. Continuin~ Disclosure. The Issuer hereby covenants and agrees that it
will comply with and carry out all of the provisions of the Continuing Disclosure
Certificate, and the provisions of the Continuing Disclosure Certificate are hereby
approved and incorporated by reference as part of this Resolution and made a Part hereof
and the Mayor and City Clerk are hereby authorized to execute and deliver the same at
issuance of the Bonds. Notwithstanding any other provision of this Resolution, failure of
the Issuer to comply with the Continuing Disclosure Certificate shall not be considered an
event of default under this Resolution; however, any holder of the Bonds or Beneficial
Owner may take such actions as may be necessary and appropriate, including seeking
specific performance by court order, to cause the Issuer to comply with its obligations
under the Continuing Disclosure Certificate. For purposes of this Section, "Beneficial
Owner" means any person which (a) has the power, directly or indirectly, to vote or
consent with respect to, or to dispose of ownership of, any Bonds (including persons
holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as
the owner of any Bonds for federal income tax purposes.
Section 31. Repeal of Conflicting Ordinances or Resolutions and Effective Date.
All other ordinances, resolutions and orders, or parts thereof, in conflict with the
provisions of this Resolution are, to the extent of such conflict, hereby repealed; and this
Resolution shall be in effect from and after its adoption.
-35-
Adopted and approved this 22nd day of October ,2002.
Mayor
ATTEST:
CityX~erk -
-36-
CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
)ss
COUNTY OF JOHNSON )
I, the undersigned City Clerk of Iowa City, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a tree and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full rome and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said
law and with members of the public present in attendance; I further certify that the
individuals named therein were on the date thereof duly and lawfully possessed of their
respective city offices as indicated therein, that no Council vacancy existed except as
may be stated in said proceedings, and that no controversy or litigation is pending,
prayed or threatened involving the incorporation, organization, existence or boundaries
of the City or the right of the individuals named therein as officers to their respective
positions.
WITNESS my hand and the seal of said Municipality hereto affixed this
24th day of October ,2002.
City ~Y~erk, Iowa City, Iowa
SEAL
DCORSBIEX342235\I\I0714.076
Prepared by: Steven Nasby, Community Dev. Coord., 410 E. Washington St., Iowa City, IA 52240 (319) 356-5248
RESOLUTION NO. 02-371
A RESOLUTION ADOPTING IOWA CITY'S AMENDED FY03 ANNUAL ACTION
PLAN, THAT IS A PART OF IOWA CITY'S 2001-2006 CONSOLIDATED PLAN (CITY
STEPS), AUTHORIZING THE CITY MANAGER TO SUBMIT SAID PLAN AND ALL
NECESSARY CERTIFICATIONS TO THE U.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT, AND DESIGNATING THE CITY MANAGER AS THE
AUTHORIZED CHIEF EXECUTIVE OFFICER FOR THE CONSOLIDATED PLAN.
WHEREAS, the U.S. Department of Housing and Urban Development (HUD) requires
the City of Iowa City, Iowa, to prepare and submit an Annual Action Plan as part of the
City's Consolidated Plan (CITY STEPS) to plan for the use of federal funds to assist
lower income residents with housing, jobs and services; and
WHEREAS, the Iowa City Housing and Community Development Commission held
meetings on May 10, 2002, May 29, 2002, June 20, 2002 and September 12, 2002,
regarding the use of federal Community Development Block Grant (CDBG) and HOME
Investment Partnership (HOME) funds for fiscal year 2002 and 2003; and
WHEREAS, the City has disseminated information, received pubric input and held a
public hearing on the Amended FY03 Annual Action Plan; and
WHEREAS, the Amended FY03 Annual Action Plan contains the allocation of CDBG
and HOME funds attached hereto as Exhibit A; and
WHEREAS, adoption of the Amended FY03 Annual Action Plan is required by the U.S.
Department of Housing and Urban Development; and
WHEREAS, the City Council finds that the public interest will be served by the adoption
of the Amended FY03 Annual Action Plan and authorizes their submission to the U.S.
Department of Housing and Urban Development.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
IOWA CITY, IOWA, THAT:
1. The City of Iowa City Amended FY03 Annual Action Plan budget, filed in the
office of the City Clerk, be and the same is hereby approved and adopted.
2. The City Manager of Iowa City is hereby authorized and directed to submit all
applicable documentation for the City of Iowa City Amended FY03 Annual Action
Plan to the U.S. Department of Housing and Urban Development, and is further
authorized and directed to provide all the necessary certifications required by the
U.S. Department of Housing and Urban Development in connection with said
Plan.
Resolution No. 02-371
Page 2
3. The City Manager is hereby designated as the Chief Executive Officer and
authorized to act on behalf of the City of Iowa City in connection with the City of
Iowa City's Consolidated Plan (a.k.a. CITY STEPS).
Passed and approved this 22nd day of October ,20 02 .
Approved by
CITY'~LERK (~it~' Attorney's Office
It was moved b.y Vanderhoef and seconded by 0'Donne]Ithe Resolution be adopted,
and upon roll call there were:
AYES: NAYS: ABSENT: ABSTA I N'
X Champion
X Kanner
X Lehman
X O'Donnell
X Pf~b
X Vanderhoef
Wilburn X
EXHIBIT "A"
FY03
CDBG AND HOME FUNDINGf AS AMENDED
Council (8/7/02) HCDC
Approved Recommendation
ECONOMIC DEVELOPMENT PROJECTS
Economic Development Fund - City of Iowa City $147,900 _$147,900
Subtotal $147,900 $'147,900
PUBLIC FACILITIES PROJECTS
Facility Rehabilitation - Neighborhood Centers of Johnson Co. $ 34,490 $ 34,490
Facility Acquisition - United Action for Youth $225,000 $225,000
Food Bank Warehouse - Crisis Center $112,510 $112,510
Facility Rehabilitation-Wesley Foundation $ 39,000 $ 39,000
Subtotal $411,000 $4'11,000
PUBLIC SERVICE PROJECTS
Furniture Project- Domestic Violence Intervention Program $ 4,500 $ 4,500
Case Management- Iowa City Free Medical Clinic $ 18,000 $ 18,000
Shelter Coordinator- Emergency Housing Project $ 18,000 $ 18,000
Aid to Agencies $105,000 $105,000
Subtotal $145,500 $145,500
HOUSING PROJECTS
Affordable Homeownership - Greater Iowa City Housing Fellowship $102,000 $102,000
Affordable Rental Units -Garden Prairie $301,200 $301,200
Transitional Housing - Hawkeye Area Community Action Program $144,000 $144,000
Small Repair Program: Eider Services, Inc. $ 40,000 $ 40,000
Property Acquisition - Hawkeye Area Community Action Program $ 34,400 $ 34,400
Deposit Assistance Program- Emergency Housing Project $ 5,000 $ 5,000
Housing Rehabilitation: City of Iowa City $200,000 $200,000
Affordable Homeownership & Rental- GICHF~ICHA $ 0 $220,000
Affordable Homeownership - Habitat for Humanity $ 0 $ 30,000
Subtotal $928,600 S f, '178, 600
ADMINISTRATION AND PLANNING
HOME Program Administration $ 71,400 $ 71,400
CDBG Program Administration and Planning $170,600 $170,600
Contingency~Unprograrnmed $ 0 $ 29,974
Subtotal $242,000 $271,974
TOTAL $1,773,000 $2,154,974'
*Includes unused funds from FY02 ($29,974) and recaptured FY02 funds in the amount of $250,000 (former Metre Plains' allocation).
CITY Of IOWA CITY
COMPARISON OF DUPLEX LOT COSTS
FY 03 FUNDING REQUESTS FOR HOUSING PROJECTS
HOME FUNDS
October 22, 2002
1. Burns & Burns Application (Worst Case Scenario)
5 lots @ $100,000 per lot
2. Burns & Burns (Actual Average Purchase Price)
7 lots (~ $39,085 per lot (Scattered Sites) $273,085
3. GICHF / CITY (Purchase Price)
10 lots @ $45,000 per lot $450,000
Prepared by: Janet Lower, Civil Engineer, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5145
RESOLUTION NO. 02-372
RESOLUTION APPROVING, AUTHORIZING AND DIRECTING THE MAYOR TO
EXECUTE AND THE CITY CLERK TO AI-I'EST AN AGREEMENT BY AND
BETWEEN THE CITY OF IOWA CITY AND FARRAGUT SYSTEMS, INC. OF
LAFAYETTE, COLORADO, TO PROVIDE CONSULTANT SERVICES FOR
DEVELOPMENT OF STORM SEWER MAPPING APPLICATIONS.
WHEREAS, the City of Iowa City desires to map the storm sewer system; and
WHEREAS, the City of Iowa City desires to contract for the consultant services necessary to
develop this map; and
WHEREAS, an Agreement for professional services has been negotiated with Farragut Systems,
Inc., located in Lafayette, Colorado; and
WHEREAS, it is in the public interest to enter into said Consultant Agreement with Farragut
Systems, Inc.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1. The Consultant's Agreement attached hereto is in the public interest, and is approved as to
form and content.
2. The Mayor and City Clerk are hereby authorized and directed to execute the attached
Consultant's Agreement, in duplicate.
Passed and approved this 22nd day of October ,20 02 ·
Approved by
CI'~'¢'GLERK C~ty Attorney's Off'~ce
pwe ng/re.Cfarragut.doc
Resolution No. 02-372
Page 2
It was moved by £hampion and seconded by Vandet'hoef the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
X Lehman
X O'Donnell
X Pfab
X Vanderhoef
× Wilbum
CONSULTANT AGREEMENT
THIS AGREEMENT, made and entered into this ~ day of ~
_..~-o~.,~---' , by and between the City of Iowa City, a municipal corporation, hereinafter
referred to as the City and Farragut Services, Inc., of Lafayette, Colorado, hereinafter referred to
as the Consultant.
WHEREAS, under this agreement the Consultant will assist the City in creation of a storm sewer
mapping layer. The Consultant will provide database design, existing map layer adjustment,
applications to aid in storm sewer information collection and training of appropriate City personnel.
NOW THEREFORE, it is agreed by and between the parties hereto that the City does now
contract with the Consultant to provide services as set forth herein,
I. SCOPE OF SERVICES
Consultant agrees to perform the following services for the City, and to do so in a timely and
satisfactory manner.
See attached document, "Statement of Work: Data Collection and Adjustment of Production Map
Layers in Support of Storm Sewer Mapping" for Scope of Work.
I1. TIME OF COMPLETION
The Consultant shall complete the following phases of the Project in accordance with the
schedule shown. Please note that the following schedule is dependent on the availability of Iowa
City personnel, and assumes a project start date of 11/1/02
Task Completion Date
Phase I - Database Design Jan 15, 2003
Phase II- Map Layer Adjustment Feb 15, 2003
Phase III - Gather Storm Sewer Location and Attr. Info. April 1,2003
Phase IV - Support, Training, and Technology Transfer May 1, 2003
III. GENERAL TERMS
A. The Consultant shall not commit any of the following employment ~ractices and
agrees to prohibit the following practices in any subcontracts.
1. To discharge or refuse to hire any individual because of their race, color,
religion, sex, national origin, disability, age, marital status, gender identity,
or sexual orientation.
2. To discriminate against any individual in terms, conditions, or privileges of
employment because of their race, color, religion, sex, national origin,
disability, age, marital status, gender identity, or sexual orientation.
B. Should the City terminate this Agreement, the Consultant shall be paid for all work
and services performed up to the time of termination. However, such sums shall
not be greater than the "lump sum" amount listed in Section IV. The City may
-2-
terminate this Agreement upon seven (7) calendar days' written notice to the
Consultant.
C. This Agreement shall be binding upon the successors and assigns of the parties
hereto, provided that no assignment shall be without the written consent of all
Parties to said Agreement.
D. It is understood and agreed that the retention of the Consultant by the City for the
purpose of the Project shall be as an independent contractor and shall be
exclusive, but the Consultant shall have the right to employ such assistance as
may be required for the performance of the Project.
E. It is agreed by the City that all records and files pertaining to information needed by
the Consultant for the project shall be available by said City upon reasonable
request to the Consultant. The City agrees to furnish all reasonable assistance in
the use of these records and files.
F. It is further agreed that no Party to this Agreement shall perform contrary to any
state, federal, or local law or any of the ordinances of the City of Iowa City, Iowa.
G. At the request of the City, the Consultant shall attend meetings of the City Council
relative to the work set forth in this Agreement. Any requests made by the City
shall be given with reasonable notice to the Consultant to assure attendance.
H. The Consultant agrees to furnish, upon termination of this Agreement and upon
demand by the City, copies of all basic notes and sketches, charts, computations,
and any other data prepared or obtained by the Consultant pursuant to this
Agreement without cost, and without restrictions or limitation as to the use relative
to specific projects covered under this Agreement. In such event, the Consultant
shall not be liable for the City's use of such documents on other projects.
I. The Consultant agrees to furnish all reports, specifications, and drawings, with the
seal of a professional engineer affixed thereto or such seal as required by Iowa
law.
J. The City agrees to tender the Consultant all fees in a timely manner, excepting,
however, that failure of the Consultant to satisfactorily perform in accordance with
this Agreement shall constitute grounds for the City to withhold payment of the
amount sufficient to propedy complete the Project in accordance with this
Agreement.
K. Should any section of this Agreement be found invalid, it is agreed that the
remaining portion shall be deemed severable from the invalid podion and continue
in full force and effect.
L Original contract drawings shall become the property of the City. The Consultant
shall be allowed to keep mylar reproducible copies for the Consultant's own filing
use.
M. Fees paid for securing approval of authorities having jurisdiction over the Project
will be paid by the City.
N. Upon signing this agreement, Consultant acknowledged that Section 362.5 of the
Iowa Code prohibits a City officer or employee from having an interest in a contract
-3-
with the City, and certifies that no employee or officer of the City, which includes
members of the City Council and City boards and commissions, has an interest,
either direct or indirect, in this agreement, that does not fall within the exceptions to
said statutory provision enumerated in Section 362.5.
O. The Consultant agrees at all times material to this Agreement to have and maintain
professional liability insurance covering the Consultant's liability for the
Consultant's negligent acts, errors and omissions to the City in the sum of
$1,000,000.
IV. COMPENSATION FOR SERVICES
Detailed pricing estimates are provided in the attached "Statement of Work: Data Collection and
Adjustment of Production Map Layers in Support of Storm Sewer Mapping".
The following pricing summary and not-to-exceed estimate is detailed below:
Task Not-to-exceed estimate
Data Collection and Adjustment of Production $149,700.00
Map Layers in Support of Storm Sewer Mapping
Includes the following tasks:
-Task 1: Database Design
-Task 2: Map Layer Adjustment
-Task 3: Gather Storm Sewer Location and Attribute Information
-Task 4: Support, Training, and Technology Transfer
-Miscellaneous (Travel Expenses)
V. OWNERSHIP AND LICENSE
A. If this Agreement or a Statement of Work requires FARRAGUT SYSTEMS to
deliver a Program Product to IOWA CITY, then IOWA CITY will be licensee of the
Program Product. FARRAGUT SYSTEMS will not be a party to this license
agreement for any Program Products nor assume any obligation for violations of it.
B. All reports, data, and information created and submitted by FARRAGUT
SYSTEMS for purposes of this Contract are the property of IOWA CITY.
C, All software created and submitted by FARRAGUT SYSTEMS for purposes of
this Contract are the property of FARRAGUT SYSTEMS, whether copyrighted or
not. FARRAGUT SYSTEMS hereby authorizes IOWA CITY to copy, reproduce,
modify, and use the software submitted by FARRAGUT SYSTEMS for IOWA
CITY's internal use.
D. All Inventions created and submitted by FARRAGUT SYSTEMS for purposes of
this Contract are the property of FARRAGUT SYSTEMS, whether copyrighted or
not. FARRAGUT SYSTEMS hereby authorizes IOWA CITY to copy, reproduce,
modify, and use the software submitted by FARRAGUT SYSTEMS for IOWA
CITY's internal use.
E. FARRAGUT SYSTEMS retains the right to use any general technical skills or
general experience gained during performance of a Statement of Work and may
apply these skills and experience on other projects provided FARRAGUT
-4-
SYSTEMS maintains compliance with the confidentiality provisions under
Section 6 of this Agreement.
VI. WARRANTIES
A. FARRAGUT SYSTEMS warrants that all Services will be performed in a
workmanlike manner.
B. IOWA CITY understands and agrees that the services herein provided under the
terms of this Agreement are provided "as is" without any warrantee or any kind
or nature, express or implied, including, but not limited to, the implied warrantees
of fitness for a particular purpose, or merchantability.
C. FARRAGUT SYSTEMS warrants that the rights that FARRAGUT SYSTEMS
grants to iOWA CITY for the use or distribution of Materials do not violate any
intellectual property rights of FARRAGUT SYSTEMS or any third party.
D. FARRAGUT SYSTEMS warrants that no portion of the Materials are confidential
to FARRAGUT SYSTEMS or any third party.
VII. MISCELLANEOUS
A. All provisions of the Agreement shall be reconciled in accordance with the
generally accepted standards of the Engineering Profession.
B. It is further agreed that there are no other considerations or monies contingent
upon or resulting from the execution of this Agreement, that it is the entire
Agreement, and that no other monies or considerations have been solicited.
FOR THE CONSULTANT
FOR TH C:,'Cl-'l~{,
Title:. Mayor Title: /z/c,[
Date: October 22, 2002 Date:
Approved by:
City Attorney's Office
Date