HomeMy WebLinkAbout1986-07-29 ResolutionT
RESOLUTION NO. 86-239
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I
RESOLUTION ACCEPTING THE IVORK FOR THE PDRINDER
OF THE SANITARY SLIVER IDIPROVENIENIS IN FIRST AND ROCHESTER, PART TWO
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,
I
The sanitary sewer improvements for Lots 73-78 and 81 f
in First and Rochester, Part Two, as constructed by ! +:
Plum Grove Acres, Inc. of Iowa City, Iowa.
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i
AND WHEREAS, maintenance bonds have been filed in the City Clerk's
office,
that NOW saidTimprovRE BE vementslbeRaccLVED ceptedbbythe theCity CityOofncil of
Iowa CityWa City, Iowa, i
It was moved by Strait and seconded by Dickson jl i
that the resolution as reams e a opts , and upon roll ca there were: i
i
AYES: NAYS: ABSENT:
Ambrisco
% _ Baker
Courtney I
_x Dickson
x_ McDonald
_X _ _ — Strait
Zuber
i
Passed and approved this 29th day of July 1986 ,
Ned A App veJ
9 he lepnl �
ATTEST: Z7.,�J �^ !
CITY 'CL R Z�?/
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CITY
CHIC CENTER
OF IOWA CITY
41 O E. WASHINGTON ST. IOWA CITY, IOWA 52240 (319) 356-5000
ENGINEER'S REPORT
July 21, 1986
Honorable Mayor and City Council
Iowa City, Iowa
Dear Honorable Mayor and Councilpersons:
I hereby certify that the construction of the improvements
listed below have 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 f ile in the City Clerk's office.
Sanitary sewer improvements for Lots 73-78 and 81
in First and Rochester, Part Two, as constructed
by Plum Grove Acres, Inc. of Iowa City, Iowa.
I hereby recommend that the above-mentioned improvements be
accepted by the City of Iowa City.
s otf 1 s fitted,
Frank K. Farmer, P.E.
City Engineer
FKF/mk
/015-3
07
—1
RESOLUTION NO. 86.240
RESOLUTION ACCEPTING THE IVORK FOR THE SANITARY SLIVER
AND STORM SLIVER IMPROVEMENTS IN BARKER'S SECOND ADDITION AND
FOR THE PAVING IMPROVEMENTS IN BARKER'S FIRST ADDITION
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 in Barker's Second Addition (identified i
on the approved construction plans as that sewer located from
manhole 012 to manhole 011A to manhole 011 to an existing manhole
on the southwest interceptor sewer) as constructed by Knowling j
Brothers Contracting Co. of Iowa City, Iowa.
i
Storm sewer improvements in Barker's Second Addition as constructed
by Barker's, Inc. of Iowa City, Iowa.
Paving improvements in Barker's First Addition (IVillma Creek Drive)
as constructed by Metro Pavers, Inc. of Iowa City, Iowa.
_I
AND WHEREAS, maintenance bonds have been filed in the City Clerk's
office,
NOW THEREFORE BE IT RESOLVED by the City Council of Iowa City, Iowa,
that said improvements be accepted by the City of Iowa City.
It was moved by Strait and seconded by Dicjyson
that the resolution as read e adopted, and upon roll ca there were:
AYES: NAYS: ABSENT:
X Ambrisco
X Baker
x Courtney
x Dickson
x McDonald i
X Strait
x Zuber
Passed and approved this 29th day of July 19 86.
�A F , /o
A a �o�ev
ATTEST: %?� �•% The Legal rmienf
CITY CLERK `� 7�aalP6
/dgSll-
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CITY OF IOWACIVIC CEN ER 410 E. WASHINGTON ST. CITY
IOWA CITY, IOWA 52240 (319) 356-5CM
ENGINEER'S REPORT
Honorable Mayor and City Council
Iowa City, Iowa
Dear Honorable Mayor and Councilpersons;
I hereby certify that the construction of the improvements
listed below have been completed in substantial accordance
with the plans and specifications of the Engineering
Division of the City of Iowa City. The required maintenance
bonds are on file in the City Clerk's office.
Sanitary sewer improvements in Barker's Second Addition
(identified on the approved construction plans as that sewer
located from manhole #12 to manhole #11A to manhole #11 to
an existing manhole on the southwest interceptor sewer) as
constructed by Knowling Brothers Contracting Co. of Iowa
City, Iowa;
Storm sewer improvements i n Barker's Second Addition as
constructed by Barker's Inc, of Iowa City, Iowa;
Paving improvements in Barker's First Addition (Willow Creek
Drive) as constructed by Metro Pavers, Inc. of Iowa City,
Iowa.
I hereby recommend that the above-mentioned improvements be
accepted by the City of Iowa City.
R e tful sUitted,
Frank K. Farmer, P. E.
City Engineer
FKF/mk
/443f
RESOLUTION NO. 86- 241
RESOLUTION AUTHORIZING SALE AND CONVEYANCE OF A VACATED PORTION
OF TEETERS COURT SOUTH OF RIDER STREET IN IOWA CITY, IOWA.
WHEREAS, the City Council did, pursuant to Ordinance No. 86-2393, passed
and approved on the first day of July, 1986, vacate a portion of Teeters
Court lying south of Rider Street and north of the CRANDIC Rail Line, more
particularly described as follows:
All that part of Teeters Court lying south of the south
right-of-way line of Rider Street and north of the Cedar Rapids
and Iowa City Railway right-of-way in Chatauqua Heights, a
subdivision in Iowa City, Iowa; and
WHEREAS, the City Council did, pursuant to Resolution No. 86-227, adopted
and approved on the 15th day of July, 1986, declare its intent and pro-
posal to dispose of said vacated street right-of-way by selling same to
the Seventh Day Adventist Church, did authorize publication notice of its
roposal with regard thereto, and did set the date and time for public
Rearing thereon; and
WHEREAS, following public hearing on said proposal, and being fully ad-
vised as to the merits of said proposal, and having given full study and
consideration, this Council deems that said proposed disposal of said
vacated street right-of-way as excess City property to be in the best
interest of the City of Iowa City, Iowa.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA:
That the Mayor and the City Clerk be and are hereby authorized, empowered
and directed to execute and deliver a City Deed conveying the City's
interest in said vacated Teeters Court right-of-way to the Seventh Day
Adventist Church, for and in consideration of the sum of $500 and ease-
ments over the entire right-of-way.
K
BE IT FURTHER RESOLVED
That the City Deed attached hereto and made a part hereof is hereby ap-
proved as to form and contents.
AND BE IT FURTHER RESOLVED
That the City Attorney be and is hereby authorized, empowered and directed
to deliver said City Deed on payment of consideration as indicated by the
foregoing.
/0?G6
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2
It was moved oy Cour ney and seconded by Dickson the Resolution
be adopted, and upon roll' call there were:
AYES: NAYS: ABSENT:
K AMBRISCO
�— BAKER
X COURTNEY
—� DICKSON
_y MCDONALD
�— STRAITS
— ZUBER
Passed and approved this/1 /day oof Till 1986.
� I
ATTEST:
tt;
1
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I
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CITY DEED
KNOW ALL MEN BY THESE PRESENTS:
That the City of Iowa City, Iowa, a municipal corporation ("City"), of the
County of Johnson and the State of Iowa, by its Mayor and City Clerk, in con-
sideration of One Dollar and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, does hereby release, remise,
convey and quit claim unto the Seventh Day Adventist Church ("Grantee") of all
its rights, title and interest in and to the following -described premises
located in the County of Johnson and State of Iowa:
All that part of Teeters Court lying south of the south right-of-way
line of Rider Street and north of the Cedar Rapids and Iowa City
Railway right-of-way in Chatauqua Heights, a subdivision in Iowa
City, Iowa (hereinafter referred to as 'the Property").
This conveyance is subject to easements and restrictions of record, and to the
following easements:
1. A permanent non-exclusive access easement and right-of-way over, upon and
across the Property. This easement shall run to the City and its public
utility franchisees and their officers and employees, and contractors and
their employees for ingress to and egress from the Property and the land
lying south of the Property for purposes of maintaining and replacing
utilities in place.
2. A permanent non-exclusive easement and right-of-way for a driveway over,
upon, across and under the east thirty-seven and one-half (37 1/2) by north
two hundred (200) feet of the Property.
This Easement shall run to the owner or owners of Lot 1, Block 7,
Chautauqua Heights Addition to Iowa City, and to the owner's invitees,
tenants, successors and assigns for purposes of ingress and egress to said
Lot 1.
3. A permanent non-exclusive right-of-way and easement for the use, and exca-
vation for maintenance, repair, alteration, inspection and replacement, of
a private sewer line, and all necessary appliances and fittings for .use in
connection with said line, over, upon, across and under the Property.
This easement shall inure to the benefit of the owner or 'owners of the
south 90 feet of Lots 8 and 9, and the south 180 feet of Lot 7, all in
Block 4 of Chatauqua Heights addition to Iowa City, and the owner's succes-
sors and assigns.
These easements shall be binding upon and shall inure to the benefit of the
City, the Grantee, the owner or owners of Lot 1, Block 7, the owner or owners
of the south 90 feet of Lots 8 and 9, and the south 180 feet of Lot 7, in Block
4; all in Chatauqua Heights, and their personal representatives, successors
and assigns. The City, or the owners of Lot 1, Block 7, or the owners of the
south 90 feet of Lots 8 and 9, and the south 180 feet of Lot 7 in Block 4,
severally and not jointly, shall indemnify Grantee against any loss and damage
which may be caused by any person or persons acting under authority of the
easement granted to said owners or the City, as the case may be.
This deed is executed and delivered under and by virtue of the authority vested
in the Mayor and City Clerk of the City of Iowa City, Iowa, under the provi-
sions of Resolution No. 86-241 duly passed and approved on the 29th day of
July , 1986,
CITY OF IOWA CITY, IOWA:
i
ATTEST:
%%fn�.a..J -'e. 4. J
City' erc
NO TRANSFER TAX DUE - CODE SECTION 428A.2(6)
A
wd y AppPP
pe d
a2T�8e
/62tGL
STATE OF IOWA )
) SS:
JOHNSON COUNTY ) the under -
red
g before me, a eared
da of 1 a e o Owa, personally PP
signedn thi , a o Pa? Public in an or ie personally o being by
William J. Ambrisco andMarian
Karr
e the Mayorto me and Clerk, espectively,
me duly sworn, did say Y
of said municipal corporation executing the within and foregoing instrumento is the t
to Aich this is attached, thatthe
eseainstruaffixed
was signed and sealed a on behalf
municipal corporation thatoration by authority of its City Council; and that said
of said municipal corp
a eli cutmon sco and
ment to be thK. e voluntary actrr as such fandedeed of osalid meunicie
pal corporation, by it and by themvo
luntarily executed. /
is in an or sai tate
I
CITY DEED
KNOW ALL MEN BY THESE PRESENTS:
That the City of Iowa City, Iowa, a municipal corpo/Ci
ty") , of the
County of Johnson and the State of Iowa, by its Mayor lerk, in con-
sideration of One Dollar and other good and valuable co, the receipt
and sufficiency of which are hereby acknowledged, doesease, remise,
convey and quit claim unto the Seventh Day Adventist Cntee") of all
itsrights, title and interest in and to the folloibed premises
loca ed in the County of Johnson and State of Iowa:
1 that part of Teeters Court lying south of t e south right-of-way
li a of Rider Street and north of the Cedar Rapids and Iowa City
Rai way right-of-way in Chatauqua Heights, a subdivision in Iowa
City+�\Iowa (hereinafter referred to as "the roperty").
This conveyance is subject to easements and re rictions of record, and to the
following eakkements:
1. A permanen non-exclusive access easem t and right-of-way over, upon and
across the roperty. This easement s all run to the City and its public
utility fran is ees and their offices and employees, and contractors and
their employe for ingress to and gress from the Property and the land
lying south o the Property for urposes of maintaining and replacing
utilities in pla
2. A permanent non -ex lusive ease nt and right-of-way for a driveway over,
upon, across and un r the eas thirty-seven and one-half (37 1/2) by north
two hundred (200) fee of the roperty.
I
This Easement shall r n the owner or owners of Lot 1, Block 7,
Chautauqua Heights Addi i to Iowa City, and to the owner's invitees,
tenants, successors and a signs for purposes of ingress and egress to said
Lot 1.
2. A permanent non-exclusive ri ht -of -way and easement for the use, and exca-
vation for maintenanc repai , alteration, inspection and replacement, of
a private sewer line, and all ecessary appliances and fittings for use in
connection with s id line, ver, upon, across and under the west
twenty-five (25) f et by north t hundred (200) feet of the Property.
This easement s all inure to the enefit of the owner or owners of the
south 90 feet f Lots 8 and 9, an the south 180 feet of Lot 7, all in
Block 4 of Cha auqua Heights addition to Iowa City, and the owner's succes-
sors and assinns.
These easement shall be binding upon and\age
inure to the benefit of the
City, the Gra ee, the owner or owners of Block 7, the owner or owners
of the south 0 feet of Lots 8 and 9, and tth 180 feet of Lot 7, in Block
4, all in atauqua Heights, and their pl representatives, successors
and assign . The City, or the owners of LBlock 7, or the owners of the
south90eetofLots 8 and 9, and the so0 feet of Lot 7 In Block 4,
severally and not jointly, shall indemnify against any loss and damage
whichmbecaused by any person or persc Ing under authority of the
Basemen grnted to said owners or the City,he ase may be.
This Bed is executed and delivered under anvirt a of the authority vested
in t Mayorand CityClerk of the City ofCity Iowa, under the provi-
sion of Resolution No. 86- duly passd appr ved on the day of
1986.
By :
CITY OF IOWA CITY ,\ IOWA:
ATTEST:
City Clerk
Approveo
NO TRANSFER TA% DUE - CODE SECTION 428A.2(6)
Acelved
Dopartment
J Y
mkt '
RESOLUTION NO. 86-242
RESOLUTION APPROVING THE FINAL SUBDIVISION PLAT AND PLANNED DEVELOP-
MENT HOUSING PLAN OF TY'N CAE, PART FOUR, A SUBDIVISION OF IOWA CITY,
JOHNSON COUNTY, IOWA.
WHEREAS, the owner and proprietor, Dynevor, Inc., has filed with the City
Clerk of Iowa City, Iowa, an application for approval of the final subdivi-
sion plat and planned development housing plan of Ty'n Cae , part Four, a
subdivision of Iowa City in Johnson County, Iowa, which is legally described
on Exhibit A attached; and
WHEREAS, the Department of Planning and Program Development and the Public
Works Department have examined the final plat and plan of said subdivision
and recommended approval of same; and
WHEREAS, the final plat and plan of said subdivision have been examined by
the Planning and Zoning Commission and after due deliberation the Commission
has recommended that the plat and plan be accepted and approved with the
addition of a sidewalk eight feet in width through the subdivision, along
Mormon Trek Boulevard, the cost of which shall be shared by the City and the
developer; and
WHEREAS, the final plat and plan are found to conform with all the require-'
ments of the City ordinances of the City of Iowa City, Iowa.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA:
1. That the final plat .and planned development housing plan of Ty'n Cae,
Part Four, a subdivision of the City of Iowa City, are hereby approved.
2. That the Mayor and the City Clerk of the City of Iowa City, Iowa, are
hereby authorized and directed to execute any legal documents relating to
said subdivision and to certify the approval of this resolution, which
shall be affixed to the final plat after passage and approval by law; and
the owner/subdivider shall record the legal documents and the plat at the
office of the County Recorder of Johnson County, Iowa, before the issu-
ance of any building permit is authorized.
It was moved by Courtney__ and seconded by Dickson
____the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
XAmbrisco
X Baker
�— Courtney
X Dickson
X McDonald
T_ Strait
X Zuber
Resolution No. 86=242
Page 2
Passed and approved this 29th day of _ July 1986.
w, ANwi♦
M r
ATTEST: C I rNY A i 7{/A )
CITY CLERK
A AppAved
_. 7�a y/lr4
/0147
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EXHIBIT A
Commencing at the Northwest Corner of the Northeast
Quarter of the Northwest quarter of Section 20, Township
79 North. Range 6 West of the 5th Principal Meridian:
Thence N00014'10"E. 143.98 feet along the west line of the
East Half of the Southwest Quarter of Section 17, Township
79 North, Range B West of the 5th Principal Merldlan:
Thence S88058'49"E, 45,40 feet, to a point which Is the
Intersection of the South Line of Ty'n Cee Subdivision
Parts 1 and 2 and the Northeasterly Right-of-way Line of
Mormon Trek Boulevard as now relocated; Thence
S11.37'30"E, 158.90 feet along said Right-of-way Line to a
point which Is 53 feet radially distant from Centerline
Station 5133+50 of said Right-of-way; Thence S20.08'50"E,
328.92 feet &long said Right-of-way Line to the
_.Southwesterly Corner of Lot 99 of said Ty'n Cee
Subdivision, Part 3, and the Point of Beginning;
Thence 1189.40159"E, 157.42 feet to a Point on the Westerly
. Right-of-way Line of Gryn Drive and the Southeasterly
Corner of said Lot 99: Thence Southeasterly 179.76 feet
along said Right-of-way Line on 150.00 foot radius
curve, concave Northeasterly, whose 169.19 foot chord
bears 554'38155"E; Thence S88.58'49"E. 37.56 feet on said
Right-of-way Line; Thence Southeasterly 96.15 feet along
said Right-of-way Line on a 175.00 foot radius curve,
concave Southwesterly, whose 94,95 foot chord bears
S73014'25"E; Thence S57.30'00"E, 93.23 feet on said
Right-of-way Line: Thence Southwesterly 235.62 feet along
said Right-of-way Line on a 150.00 foot radius curve,
concave Southwesterly, whose 212.13 foot chord bears
.S12030100"W; Thence S32030'00"W, 227.12 feet along said
Right-of-way Line; Thence Southwesterly 60.95 feet along
said Right-of-way Line on a 150.00 foot radius curve,
concave Northwesterly, whose 60.53 loot chord bears
544.08127"E; Thence S35.46'55"W, 46.04 feet along said
-Right-of-way Line extended to Its Intersection with the
now relocated Right-of-way line of Mormon Trek Boulevard,
said Right-of-way Line being 40.00 feet normally distant
Northeasterly from the Centerline of Mormon Trek
Boulevard: Thence N34'13'03"W, 130.60 feet along the
Northwesterly Right-of-way Line of said Mormon Trek
Boulevard to a point which is 40.00 feet normally distant
northeasterly from Canterline Station 5124+55.61 Thence
Northwesterly 481.10 feet along said Right-of-way Line on
a 2,824.8 foot radius curve, concave Northeasterly, whose
480.50 foot chord bears' N29.20120"W to a point which is
40.00 feet normally distant northeasterly from Centerline
Station 5129+43.6; Thence N24.27'35"W, 56.40 feet along
said Right-of-way Line to a point which Is 40.nn font
normally distant northeasterly from Centerline Station
513000.0: Thence N20006150"w, 11,78 feet along sold
R1P,ht-of-way Line to the Southwesterly corner of said Lot
09 nod the Point of Beginning. Snld tract of land
contains 4.317 acres more or less and Is subject to
easements and restrictions of record,
STAFF REPORT
To: Planning & Zoning Commission Prepared by: Karin Franklin
Item: S-8611. Ty'n Cae , Part Four. Final Date: July 10, 1986
Subdivision Plat & Planned
Development Housing Plan
GENERAL INFORMATION
Applicant:
- Requested action:
Purpose:
Location:
Size:
Comprehensive Plan:
Existing land use and zoning:
Surrounding land use and zoning:
Applicable regulations:
45 -day limitation period:
60 -day limitation period:
SPECIAL INFORMATION
Public utilities:
Public services:
Dynevor Inc.
1201 S. Gilbert Street
Iowa City, Iowa 52240
Approval of a final subdivision
plat and planned development
housing plan.
Development of 22 lots for resi-
dences.
The northwest quadrant of the
intersection of Gryn Drive and
Mormon Trek Boulevard.
4.3 acres.
Residential; 2-8 DU/acre.
Undeveloped; PDH -8.
Horth - residential ; PDH -8.
East - undeveloped; PDH -8.
South - undeveloped ; PDH -B.:
West - Mormon Trek Boulevard and
Freeway 218 right-of-way,
residential; POH-8 and RS
(County) .
Subdivision Regulations, Zoning
Ordinance, Stormwater Management
Ordinance,
August 11, 1986.
August 25, 1986.
Municipal sewer and water are
available.
Police, fire and sanitation
service will be provided,
/0119
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Transportation: Vehicular access is proposed from
Gryn Court and Gryn Drive to
Mormon Trek Boulevard. Bus
service is not available in this
area.
Physical characteristics: The natural topography is moder-
ate to steeply sloping (5-15%).
ANALYSIS
The preliminary plat and planned development ho using plan for Ty'n Cae Subdi-
vision Part ,Four were approved April 9, 1985. The planned development in-
cludes 22 lots to be developed for single family zero lot line housing. The
planned development provides for a variation in the frontage requirements for
Lots 106-111 from the usual 45 feet to frontages between 30 feet to 36 feet;
the front yard setback on these lots is a minimum of 25 feet.
The area within the preliminary plat and plan includes a portion of the
Mormon Trek Boulevard right-of-way which was vacated November 6, 1984. The
i resolution to dispose of the right-of-way to Dynevor Inc. was approved at the
same time the preliminary plat and plan were approved. Actual conveyance of
the property has not been completed to date. Conveyance will be necessary
prior to approval of the final plat and plan.
The final plat and plan are in full compliance with the preliminary docu-
ments. Storm water management is provided in Ty'n Cae Subdivision Part Three
and in compensating storage in Nest Side Park. Legal papers and construction
plans have been received and are in the process of review and revision.
STAFF RECOMMENDATION
The staff recommends deferral pending resolution of the deficiencies noted
below. Upon such resolution, the staff recommends approval of the final plat
and planned development housing plan for Ty'n Cae Subdivision Part Four.
DEFICIENCIES AND DISCREPANCIES
1. The vacated right-of-way must be conveyed to complete the subdivision.
2. Irregularities in utility easements should be specifically described on
the plat.
3. Legal papers should be revised to include provision for an 8 -foot side-
walk along Mormon Trek Boulevard and for restricted access to Mormon Trek
Boulevard for Lots 97, 98, 106-109 and 123.
ACCOMPANIMENTS
Final plat and plan.
j Approved by; i, �l'[C�lki(/ /
ono d hmeiser, Director
Department of Planning
and Program Development
/dou
RESOLUTION NO. 86-243
RESOLUTION APPROVING THE PRELIMINARY AND FINAL LARGE SCALE NON-RESI-
DENTIAL DEVELOPMENT PLAN FOR CITY CARTON COMPANY, INC. LOCATED AT THE
SOUTHWEST CORNER OF BENTON STREET AND CLINTON STREET.
WHEREAS, City Carton Company, Inc., has filed with the City Clerk of Iowa City,
Iowa, an application for approval of a preliminary and final Large Scale Non -
Residential Development Plan for Parcel I contained in the following legally
described property which it leases from the Cedar Rapids and Iowa City Railway
(CRANDIC):
PARCEL I
Commencing at the Southeast Corner of the Northwest Quarter of Section
15, Township 79 North, Range 6 West of the 5th Principal Meridian;
Thence S89047121"W, (an assumed bearing) along the South Line of said
Northwest Quarter, 1,067.105 feet, to the Centerline of Right -of -Way on
Clinton Street; Thence NO 24'29"E, along said Centerline, 575.19 feet,
to 8 Point on the Southerly Right -of -Way Line of Benton Street; thence
N89 35'35"W, along said Southerly Right -of -Way Line, 206.06 feet, to a
Point that is 8.00 feet normally distant Westerly from the Centerline
of the North-South Railroad Tracks and said point being the Point of
Beginning; Thence S0013'26"W, 311.92 feet, to a point that is 8.00 feet
normally distant Westerly from said Centerline of Railroad Tracks;
Thence Southwesterly 102.17 feet on a 232.00 foot radius curve, concave
oint
whichis8Northwesterly, feetsradially distant1.35 foot ofronears said Center line of Raito a lroad
Tracks; Thence Southwesterly 47.06 feet on a 145.71 foot radius curve,
concave Northwesterly, whose 46.85 foot cord bears S34042130"W to a
point which is 8.00 feet radially distant from said Centerline of
Railroad Tracks and 10.00 feet normally distant Northeasterly from the
Centderline of the Northwest -Southeast Railroad Tracks; Thence
N50 51'49"W, 51.48 feet, to point which is 10.00 feet normally distant
Northeasterly from said Centerline of Railroad Tracks; Thence North-
westerly 111.83 feet on a 350.00 foot r$dius curve, concave North-
easterly, whose 111.36 foot cord bears N41 42'36"W to a point which is
10.00 feet normally distant from said Centerline of Railroad Tracks;
Thence N32033'23"W, 7.86 feet, to a point which is 10.00 feet normally
distant from said Centerline of Railroad Tracks; thence Northwesterly
94.10 feet on a 302.52 foot radius curve, concave Northeasterly, whose
93.72 foot cord bears N23038144"W to a point which is 10.00 feet nor-
malcy distant from said Centerline of Railroad Tracks; Thence
N14 44104"W, 45.87 feet, to a point which is 10.00 feet normally dis-
tant
aCenterline Tracks o
Centerlineof CapitolStre t Right of-Wayextended; ThenceN0115 25"Ee
along said Centerline of Capitol Street, 198.33 feet, to a point on the
Southerly Right -of -Way Line of Benton Street; Thence 589035'35"E, along
said Southerly Right -of -Way Line, 217.04 feet, to the Point of Begin-
ning. All is in accordance with County Seat of Johnson County, an
Addition to Iowa City, Iowa, according to the recorded plat thereof.
Said parcel of land contains 80,597 square feet, more or less.
/R �O
Resolution No. 86- 243
Page 2
PARCEL A
Part of Outlot Two (2) of the County Seat Addition to Iowa City,Iowa,
more particularly described as follows: Beginning at the Northeast
Corner of said Outlot Two (2); Thence South two hundred seventy feet
(2701); Thence West one hundred twenty-three feet (123'); Thence North
one hundred eighty feet (1801); thence Northwesterly to a point on the
South boundary line of Benton Street, one hundred thirty-six feet
(136') West of the Northeast corner of said Outlot Two (2); Thence East
one hundred thirty-six feet (1361) to the place of beginning. Said
Parcel of land containing thirty-three thousand seven hundred and
ninety-five (33,795) square feet, more or less.
PARCEL B
Part of Outlot Two (2) of the County Seat Addition to Iowa City,Iowa,
more particularly described as follows: IBeginning at a point 187 feet J North of the Southeast Corner of said Outlot Two (2); Thence North
along Clinton Street a distance of 88 feet; Thence West a distance of
123 feet; Thence South a distance of 88 feet; Thence East a distance of
i 123 feet to the place of beginning. Said parcel of land containing
10,824 square feet more or less.
PARCEL C
Part of Outlot Two (2) of the County Seat Addition to Iowa City,lowa,
NorthpoftitheaSoutheastiCorner ofas liaid OutlotTwo
at Point 56 feet
along Clinton Street a distance of 66 feet; Thence West aTdistance hence rof
123 feet; Thence South a distance of 66 feet; Thence East a distance of
123 feet to the place of beginning. Said parcel of land containing
8,118 square feet more or less.
WHEREAS, the Large Scale Non -Residential Development Plan
expan-
sion of an existing industrial operation for oses
thuoffice building and vehicle maintenance building; and ose ofpro
constructinganew
WWHEREAS.
the Department of Planning and Program Development and the Public
Department have examined the preliminary and final Large Scale Non -Resi-
dential Development Plan and have recommended approval of same; and
WHEREAS, the preliminary and final Large Scale Non -Residential Development Plan
has been examined by the Planning and Zoning Commission and after due delibera-
tion the Commission has recommended, subject to compliance with the Storm Water
Management Ordinance, that it be accepted and approved; and
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WHEREAS, a revised preliminary and final Large Scale Non -Residential Develop-
ment Plan showing compliance with the Storm Water Management Ordinance has been
submitted and approved by the Public Works Department; and
WHEREAS, the preliminary and final Large Scale Non -Residential Development Plan
is found to conform with all of the pertinent requirements of the City Ordi-
nances of the City of Iowa City, Iowa.
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Resolution No. 86-198
Page 3
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA:
1. That the preliminary and final Large Scale Non -Residential Development Plan
of City Carton Company, Inc., is hereby approved.
2. That the City Clerk of the City of Iowa City, Iowa, is hereby authorized
and directed to certify the approval of this resolution and of said plan
after passage and approval by law; and the owner shall record said plan at
the office of the County Recorder of Johnson County, Iowa, before the
issuance of any building permit is authorized.
It was moved by Dickson and seconded by Strait the
Resolution be adopted, and upon ro call there were:
AYES: NAYS: ABSENT:
X AMBRISCO
X BAKER
X COURTNEY
x— DICKSON
MCDONALD
x STRAIT
X_ ZUBER
Passed and approved this 24th day of T„ly 1986.
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ATTEST:
aApp�ov,e
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STAFF REPORT
To: Planning & Zoning Commission Prepared by: Barry Beagle
Item: S-8612. City Carton. Date: July 10, 1985
GENERAL INFORMATION
Applicant: City Carton Company Ince
Requested action:
Purpose:
Location:
Size:
Existing improvements:
Existing land use and zoning:
Surrounding land use and zoning:
Comprehensive Plan:
Applicable regulations:
45 -day limitation period:
SPECIAL INFORMATION
Public utilities:
917 S. Clinton Street
Iowa City, Iowa 52240
Approval of a preliminary and
final Large Scale Non -Residential
Development (LSNRD) Plan:
To construct an office building
and vehicle maintenance build-
ing.
South of Benton Street, between
Capitol Street and Clinton
Street.
Approximately 3.06 acres.
Five existing_ industrial/ware-
house buildings.
Industrial; I-1.
North - Commercial; CI -1.
South - City Disposal Plant; P.
East - Johnson County Court-
house; P.
West - Industrial (Iowa City
Ready -Mix); I-1.
Intensive commercial.
Zoning Ordinance, Large Scale
Non -Residential Development Plan
regulations and Storm Water
Management Ordinance.
August 8, 1986.
Municipal water and sanitary
sewer service are available.
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Public services: Police and fire protection will
be provided by the City. Sanita-
tion will be provided by a pri-
vate hauler.
Transportation: Vehicular access will be provided
by Benton Street and Clinton
Street. Rail service is also
available by Crandic Railroad
which extends through the par-
cel.
Physical characteristics: Site is practically flat, drain-
ing slightly to the south into
the railroad right-of-way.
ANALYSIS
The applicant is requesting preliminary and final LSNRD plan approval in
order to permit an expansion of their operation. City Carton leases approxi-
mately 3.06 acres of land from the Crandic Railroad lying on both sides of
the railroad right-of-way south of Benton Street. The existing operation is
primarily conducted on the east side of the railroad tracks which is desig-
nated by diagonal lines on the LSNRD plan. It is the applicant's intent to
transfer two activities from this area to the west side of the tracks.
City Carton is proposing to construct a new office building, approximately
2,160 square feet, and vehicle maintenance building, approximately 6,080
square feet, on the 1.85 acres of land they lease on the west side of the
tracks. Currently this parcel contains two smaller storage buildings, one of
which will be relocated on the lot.
According to Section 27-36, expansion of an existing industrial operation
over two acres in area, requires approval of a LSNRD plan only for the area
of the expansion. In this case, the 1.85 acres west of the railroad tracks,
is subject to the LSNRD requirements. Specific information concerning build-
ing size,. use, parking area should also be provided for the existing area of
operation. The same level of detail is needed for the existing area in order
to make a total assessment of parking, tree requirements, etc., plus to
provide an accurate picture regarding the total operation for future consid-
erations.
In accordance with Section 33-56 of the Code of Ordinances, the Storm Water
Management Ordinance is applicable to the expansion area. The applicant must
provide storm water retention on-site or provide a storm water channel from
the site to the Iowa River.
Assuming the new office building and vehicle maintenance ebuilding to be less
18 parking
than a 50% expansion of the total building area, approximately
spaces would be required. Section 36-58(b)(2) provides that if an existing
use is enlarged to the extent of less than 50% of the total floor area, then
only the area of the expansion shall comply with the parking requirements. A
total of 23 additional parking spaces are shown an the plan.
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It is believed that the building expansion will increase the total floor area
of all structures by more than 10%: As such, Section 36-73 requires compli-
ance with the required tree plantings adjacent to street rights-of-way: With
approximately 780 feet of lot frontage onto Benton Street and Clinton Street,
approximately 13 trees would need to be planted adjacent to the right-of-way
at a ratio of one (1) tree per 60 feet of lot frontage:
STAFF RECOMMENDATION
Staff recommends the preliminary and final Large Scale Non -Residential Devel-
opment plan for City Carton be deferred. Upon resolution of the minor defi-
ciencies and discrepancies listed below, staff would recommend approval.-
DEFICIENCIES
pproval:DEFICIENCIES AND DISCREPANCIES
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1. Provide a "Legend" indicating the square footage and use of all struc-
tures, existing and proposed; the total number of parking spaces required
and provided, and the trees required to be planted adjacent to the
right-of-way or as part of the parking area.
2. Accurately identify the dimensions and use of existing structures includ-
ing parking areas east of the railroad tracks.
3. Identify the required number of trees to be planted adjacent to the
right-of-way as required by Section 36-73(a)(1)b. and 36-73(a)(2); and
trees on private property for parking areas as required by Section
36-73(b)(1) and 36-73(b)(2),
4, Identify the required number of parking spaces to be provided as required
by Section 36-58(b).
5. Compliance with the Storm Water Management Ordinance.
6. Identify the location and width of access points, existing and proposed,
which cross the railroad tracks connecting the two sides.
7. Identify a sidewalk along the south side of Benton Street.
8. Identify driveway approach of easternmost curb opening as being concrete
within the right-of-way of Benton Street.
9. Submission of a signed statement of intent providing evidence of the
lease arrangement with the Crandic Railroad, consent and authorization of
Crandic Railroad and an intended time schedule for completion.
10. Show drive extension leading to the vehicle maintenance building as
having an asphalt, concrete or similar permanent dust -free surface in
accordance with Section 36-58(c)(1).
11, Identify the width of the western -most curb opening, not to exceed 42
feet.
12. Indicate the legal description of the total area leased by City Carton
from Crandic Railroad.
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ATTACHMENTS
1. Location map.
2. Preliminary and Final Large Scale Non -Residential Development Plan.
Approved by: Yl .rc.
Do ald Schmeiser, Directhr
D artment of Planning
and Program Development
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RESOLUTION NO. _
RESOLUTION APPROVING THE PRELIMINARY AND FINAL PLAT OF DEAN
OAKES WOODS ADDITION, A SUBDIVISION OF IOWA CITY, JOHNSON
COUNTY, IOWA.
WHEREAS, the owner and proprietor, Dean G. Oakes, has filed with the City
Clerk of Iowa City, Iowa, an application for approval of the preliminary
and final plat of Dean Oakes Woods Addition, a subdivision of Iowa City in
Johnson County, Iowa, which is legally described as follows:
R6W of
Commencing
the at Northeast oSection
ncipalMeridian;thenceS01o40TTownship
lssume79 d
bearing), 957.79 feet on the east line of the Northeast Quarter
of said Section 12 to the centerline of Rochester Avenue; thence
S70o52'26"W, 1215.50 feet along said centerline to the Point of
Beginning of the tract herein described, said point being on the
Westerly right-of-way of Amhurst Street Extended; thence
S19009'36"E, 109.34 feet along said Westerly right-of-way ex-
tended and said Westerly right-of-way; thence Southerly 220.12
feet on a 300.66 radius curve concave Westerly, and whose 215.24
foot cord bears S01048'49"W; thence S22047'14"W, 48.93 feet
along said Westerly right-of-way to the centerline of Lower West
Branch Road; thence Northwesterly 174.44 feet on a 727.50 foot
rad us curve concave Southerly and whose 174.02 foot cord bears
fence
N739'0linethence
f nce2lineWextended tothe
feet
oncenterlinan e existing
Rochester Avenue; thence N70052'26"E, 168.50 feet along said
centerline to the Point of Beginning. Said tract contains 1.40
acres and is in accordance with the records of Johnson County,
Iowa.
WHEREAS, the Department of Planning and Program Development and the Public
Works Department have examined the proposed preliminary and final plat of
said subdivision and have recommended approval of same; and
WHEREAS, the preliminary and final plat of said subdivision has been
examined by the Planning and Zoning Commission and after deliberation the
Commission, by vote of one in favor, five against, and one abstention,
the
failed
showed inacc ss ion ontooRochesterdAvenuethe
froml at be singlerlotd and ecause
developer proposed the continued use of Lower West Branch Road west of
Amhurst Street as a street without improvement to urban design standards;
and
WHEREAS, the preliminary and final plat is found to conform with all of
the requirements of the Ordinances of the City of Iowa City, Iowa.
d
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA:
1. That the preliminary and final plat of Dean Oakes Woods Addition, a
subdivision of the City of Iowa City, is hereby approved, and
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City
dirClerk of the City of Iowa City, Iowa, are
to said subdivision which, among o other thinexecute gs, shalal l provide aewaiver
of assessment for future paving of Lower Nest Branch Road, and dedica-
tion to the public of the parts of Rochester Avenue and Lower
Branch Road abutting the subdivision, and to certify the approva We
of
this Resolution, which shall be affixed to the preliminary and final
plat after passage and approval by law; and the owner/subdivider shall
record the legal documents and final plat at the Office of the County
Recorder of Johnson County, Iowa, before the issuance of any building
permits is authorized,
It was moved by and
be adopted, and upon ro ca e were: there were: by _— the Resolution
AYES: NAYS: ABSENT:
AMBRISCO
BAKER
COURTNEY
DICKSON
MCDONALD
STRAIT
--' ZUBER
passed and approved this — day of
1986.
ATTEST:
i'.Lceived B Approver
Dy The Lugol Depertrwi
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City of Iowa City
MEMORANDUM
Date: July 25, 1986
To: City Council
From: Karin Franklin, Senior Planne
Re: Dean Oakes Woods Addition - Access to Rochester Avenue and Paving
of Lower West Branch Road
The Planning and Zoning Commission, at its July 10th meeting, recommended
denial of the Dean Oakes Woods Addition, a 6 -lot residential subdivision
at Amhurst Street and Lower West Branch Road. The denial is based on two
issues: 1) that access should not be provided to Lot 5 from Rochester
Avenue, and 2) that Lower West Branch Road should be paved to City stan-
dards with the expense shared by the developer and neighboring property
owners.
Access to Lot 5 from Rochester Avenue
Restricting access to arterial streets is a policy statement in the Com-
prehensive Plan. There is no ordinance however which specifically states
that the City has the right to limit access to Rochester Avenue or, more
generally; to any secondary arterial street. The purpose section of the
subdivision regulations does state that subdivision review is "to provide
for the harmonious development of the City for the coordination of streets
within subdivisions with other existing or planned streets... and for
distribution of population and traffic which will tend to create condi=
ons avora le to health safety and nene-r-aT-w—eTTar—e�--Tgm-p-fia-s-fs--aaae-r)
e LOMIssioners w o voted for the denial of the su division based on the
issue of access to Rochester Avenue expressed concern for the continued
safe flow of traffic on Rochester Avenue if individual driveway curb cuts
wereallowed to proliferate. The staff did not feel this was a critical
issue in the development of this piece of land.
Lower West Branch Road Paving Standards
Lower West Branch Road is a public street by easement, i.e. the right-of-
way is owned to the center line by the developer and an easement is
granted over it for public access. This situation dates from the time the
road was in the County. With the subdivision of the tract, the easement
will be converted to a full dedication of right-of-way and the City will
own the right-of-way. This section of Lower West Branch Road is, however,
at this time an existing improved City street. Because the street is an
existing, improved (although deteriorated) road which will provide access
to only one lot in the proposed subdivision, the staff did not require
construction to full City standards at this time. City standards require
28 feet of concrete with a curb and gutter. The standard required by the
staff was seal coat over the existing base. Construction to City stan-
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dards would not be necessary then until development of the property to the
west when more lots would access the street. Payment for this portion of
Lower West Branch Road would be done through assessments.
Some of the Commissioners were concerned, however, that the public would
actually absorb the cost of reconstruction later and cited the discussion
of Vista Park Village as an instance in which forethought as to the con-
struction of Peterson Street south to the undeveloped land would have
alleviated much of the controversy surrounding that development. One
distinction between Vista Park Village and the Oakes Woods Subdivision is
the fact that Lower West Branch Road has been improved to some extent,
whereas Petersen Street had never been used as a public street. (In the
Vista Park case, the result of the discussion was that the developer
assumed the cost of all of Petersen Street to the north boundary of the
subdivision and half the cost of the road to its intersection with Sham-
rock Drive; the City absorbed the other half of the cost.) In both in-
stances,
n-stances, the streets abut the subdivisions and are, at least in part,
within the subdivision.
i
Questions as to .the legality of the Commission's action based on these
issues have been raised by the attorney for the subdivider. (See letter j
from Marion Neely.) This memo is not intended to serve as a response to
those legal questions but to provide some 'additional facts relating to j
these issues and the discussion at the Commission level. A legal opinion
from the legal staff addressing the ability of the City to restrict access
and require construction of the street can be provided at the Council's
request.
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cc: Terrence Timmins
Tom Scott, Chairperson, Planning and Zoning Commission
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MARION R. NEELY
JAMES H. MARTINEK
Mr. William Ambrisco
Mayor
410 E. Washington St.
Iowa .City, Iowa 52240
NEELY AND MARTINEK
ATTORNEYS AT LAW
51 O IOWA STATE BANK BUILDING
IOWA CITY. IOWA 52240
TELEPHONE 33B-9453
July 22, 1986
RE:I Dean ,Oakes Woods Addition to Iowa City, Iowa
Dear Mayor Ambrisco:
SOLI IOWA
SOLOTELEPHONE
IOWA5-333
TELEPHONE fi44•2391
I.:am writing for and on behalf of Mr. Michael Hodge, the appli-
cant, and Dean G. Oakes, the prospective developer of the above
subdivision, to seek the Council's assistance in resolving what I
believe are two legal problems that have arisen in Connection
w1th..the approval for the addition.
The City staff, did recommend approval of the addition, subject
to some minor technical corrections, which were in the process of
being taken care of.
The planning commission met and discussed this, and voted on the
-question of whether to approve recommendation of the plat, with
one member voting for approval, five members voting against
approval, and one member abstaining. According to the Commission
members, three members wanted to limit access onto Rochester
Avenue, and two members wanted to have that portion of Lower West
Branch Road abutting the subdivision paved by the applicant. The
abstaining member lives at 3231 Lower West Branch Road, which
property actually abutts the unimproved roadway, but it does
access out onto Amhurst Street.
The problems that arose before the Commission could best be
explained by examining the location of this proposed subdivision,
which is at the intersection of Rochester Avenue and Amhurst
Street, both paved streets, and does abutt an its south boundry,
Lower West Branch Road, which of course is an unimproved roadway.
F O d E D
JUL 2 21986
(MARIAN K. KARR
CITY CLERIC (1)
All A99OCIATION Or9OLE PRACTITIONER9 /o? 71
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July 22, 1986
Page 2
The first problem with the commmission arose when three members
wanted to limit any access onto Rochester Avenue, and felt that
Rochester Avenue from the City limits west should be limited
access. As a result, unless the one lot that does actually access
onto Rochester is to be modified, these three members advised
that they would vote against the proposed subdivision, and they
did.
The second problem arose, when two members of the Commission j
believed that Lower West Branch Road should be paved in its !
entirety from Amhurst Street west to the west property line of
the subdivision.. The problem with this is the Applicant does
not own any more than an undivided one-half of the roadway, and i
presumably the other undivided one-half is owned by the property
owner at 3231 Lower West Branch Road, unless this was dedicated l
to the City at the time that the subdivision plat was approved. If ?
so, then the City itself would own the undivided one-half of the j
roadway.
We believe that there is no legal basis for the posi-
tion taken by.the Planning Commission and would ask that the City +
Attorney give an opinion on the following questions, to -wit:
i
1. Whether there are any restrictions in the present Muni-
cipal Code of Iowa City that limit vehicle access onto Rochester
Avenue from the proposed subdivision? If not, is this a legal
restriction on the approval of this subdivision plat?
2. Whether the Municipal Code of Iowa City has any require-
ment to cause a developer to pave an existing unimproved street,
that abutts a proposed subdivision, when the applicant owns
only a portion of the street right-of-way? If not, is this a
legal restriction on the approval of this subdivision plat.
We do recognize that under Section 32-401g)7 the City Council
could require that a request be made for the paving of Lower West
Branch Road. The question then is, does the city wish to pave
this portion of the Lower West Branch Road, or should it ever be
paved. It is my understanding that the City has not required the
July 22, 1986
Page 3
Paving of an improved street be -Fore.
My clients have no objection to this requirement.
We would therefore respectfully ask that the City Attorney issue
an opinion an the legal two questions, and that the City Council
then review the proposed subdivision based on the legal require-
ments, and that the subdivision be approved.
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STAFF REPORT
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To: Planning & Zoning Commission Prepared by: Barry Beagle
f
Item: 5-8614. Dean's First Addition. Date: July 10, 1986
GENERAL INFORMATION
Applicant: Dean G. Oakes j
Hawkeye State Bank Bldg. 1
Iowa City, Iowa 52240
338-1144 i
Requested action: Combined preliminary and final
plat approval.
Purpose: To establish a six -lot subdivi-
sion. Il
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Location: The southwest corner of Rochester
Avenue and Amhurst Street.
'
Size: 1.40 acres.
Comprehensive Plan: Residential, 2-8 DU/a.
Existing land use and zoning: Undeveloped; RS -5. i
Surrounding land use and zoning: North - Undeveloped; ID -RS.
South - Residential (Oakwoods
Addition); RS -5.
East - Undeveloped; RS -5.
West - Agricultural; RS -5.
Applicable regulations: Provisions of the Subdivision
Ordinance.
45 -day limitation period: August 8, 1986.
i 60 -day limitation period: August 25, 1986.
SPECIAL INFORMATION
Public utilities: Public water service is available
from either a 6 -inch main on
Lower West Branch Road, an 8 -inch
' main on Amhurst Street, or a
12 -inch main on Rochester Avenue.
Sewer service will be provided by
extension of an 8 -inch VCP line
to connect back into Amhurst
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Public services: Police and `vire protection are
available. Solid waste service
will be provided by the City.
Transportation: Vehicular access will be provided
by:
Lots 1-4: Amhurst Street.
Lot 5: Rochester Avenue.
Lot 6: Lower West Branch Road.
Physical characteristics: The site is moderately flat
draining to the southwest.
ANALYSIS
The applicant is requesting approval of a combined preliminary and final
subdivision plat of Dean's First Addition to establish a six -lot, single-
family residential subdivision. Each lot conforms with the minimum 8,000
square foot lot size requirement of the RS -5 zone.
The site was the location of a 1983 subdivision proposal known as Lumpa's
First Subdivision. The subdivision proposal was never completed due to sewer
capacity problems and litigation concerning the vacation of the 35 -foot
right-of-way easement for Lower West Branch Road. In the interim time, the
sanitary sewer moratorium for the east side was lifted and the litigation
concerning Lower West Branch Road has been resolved with no portion of Lower
West Branch Road west of Amhurst being vacated. The new owner is requesting
approval of the same number of lots, arranged in a similar manner. The site
is not subject to the Storm Water Management Ordinance due to its size of
less than two acres.
One unique feature of the subdivision is the continuation of Lower West
Branch Road west of Amhurst Street as a 24 -foot wide, seal coat road. This
arrangement is acceptable to the Public Works Department since its only
function at present is to provide access to Mr. Bob Stevens' land to the west
and Lot 6. With the eventual development of Mr. Stevens' property, Lower
West Branch Road will be brought up to urban design standards.
As a part of this subdivision proposal, the staff recommends that the south-
ern 35 feet of Rochester Avenue right-of-way dedicated to the City. In
addition, the existing 33 foot right-of-way easement along Lower West Branch
Road should be dedicated to the City.
STAFF RECOMMENDATION
Staff recommends that the combined preliminary and final plat of Dean's First
Subdivision be deferred. Upon resolution of the deficiencies and discrepan-
cies listed below, staff would recommend approval.
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DEFICIENCIES AND DISCREPANCIES
1. Identify location and size of existing and proposed curb inlets.
2. Include a signature block for Heritage Cablevision.
3. Dedicate to the City the south 35 feet of Rochester Avenue right-of-way.
4. Identify all utility easements within the Amhurst Street right-of-way
adjacent to the site.
5. Dedicate to the City the existing 33 foot right-of-way easement of Lower II
West Branch Road on the property. 1
6. Submit construction plans for sanitary sewers.
7. Submission of legal papers including waiver of assessment for the future j
improvement of the Lower West Branch Road and installation of sidewalks.
8. Correct reference to dimensional angles on south property line of plat.
ATTACHMENTS
1. Location map.
ACCOMPANIMENTS ;.
1. Preliminary and final plat of Dean's First Addition.
j
Approved by:�: c !
o ald Schmeiser, eor
D partment of Planning
and Program Development
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5-8LO14
ID -RS
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RESOLUTION NO. 86-244
RESOLUTION APPROVING THE PRELIMINRY AND FINAL LARGE SCALE NON-RESI-
DENTIAL DEVELOPMENT PLAN FOR THE JOHNSON COUNTY FARM BUREAU LOCATED
NORTHEAST OF MORMON TREK BOULEVARD.
WHEREAS, the owner, the Johnson County Farm Bureau, has filed with the City
Clerk of Iowa City, Iowa, an application for approval of a preliminary and
final Large Scale Non -Residential Development Plan for property which is
legally described as follows:
Beginning at the Northeast Corner of the Southeast Quarter, of the
Northwest Quarter of Section 20, Township 79 North, Range 6 West,
of the 5th Principal Meridian; thence S 01002'24" W, 487.06 feet
along the East Line of said Northwest Quarter, of Section 20, to
its intersection with the Northeasterly Right -of -Way Line of Mormon
Trek Boulevard as relocated; thence N 68013100" W, 0,49 feet to an
iron pin found; which is 70 feet radially distant Northeasterly of
center line station 5110+87,7; thence N 55014120" W, 193.60 feet
along said Right -of -Way Line to an iron Right -of -Way marker found,
which is 70 feet radially distant Northeasterly of center line
station 5113+00.0; thence N 41000'50" W, 177.00 feet along said
Right -of -Way line to an iron Right -of -Way marker found, which is 70
feet radially distant Northeasterly of center line station
5114+94.0; thence N 25055120" W, 276.51 feet along said Right -of -
Way Line to its intersection with the North Line of the South Half
of the said Northwest Quarter of said Section 20; thence S
89010137" E, along said North Line 405.42 feet to the Point of
Beginning.
WHEREAS, said Large Scale Non -Residential Development is for the construction
of an office building; and
WHEREAS, the Department of Planning and Program Development and the Public
Works Department have examined the preliminary and final Large Scale Non -
Residential Development Plan and have recommended approval of same; and
WHEREAS, the preliminary and final Large Scale Non -Residential Development
Plan has been examined by the Planning and Zoning Commission and after due
deliberation the Commission has recommended that it be accepted and approved;
and
WHEREAS, the preliminary and final Large Scale Non -Residential Development
Plan is found to conform with all of the pertinent requirements of the City
Ordinances of the City of Iowa City, Iowa.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA:
That the preliminary and final Large Scale Non -Residential Development
Plan for the Johnson County Farm Bureau is hereby approved.
2. That the City Clerk of the City of Iowa City, Iowa is hereby authorized
and directed to certify the approval of this resolution and of said plan
after passage and approval by law; and the owner shall record said plan
at the office of the County Recorder of Johnson County, Iowa, before the
issuance of any building permit is authorized.
A AEW04L
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It was moved by Dickson and seconded by Strait the
Resolution be adopted, and upon roTT call there were:
AYES: NAYS: ABSENT:
_y_ AMBRISCO
x BAKER
COURTNEY
DICKSON
MCDONALD
STRAIT
_y— ZUBER
Passed and approved this 29th day of July , 1986. S
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ATTEST: J e
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STAFF REPORT
To: Planning and Zoning Commission
Item: S-8613. Johnson County Farm Bureau
GENERAL INFORMATION
Applicant:
Requested action:
Purpose:
Location:
Size:
Existing land use and zoning:
Surrounding land use and zoning:
Comprehensive Plan:
45 -day limitation period:
SPECIAL INFORMATION
Public utilities:
Public services:
Transportation:
Prepared by: Monica Moen
Date: July 10, 1986
Johnson County Farm Bureau
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413 Tenth Avenue
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Coralville, Iowa 52241
Vincent Horst, Manager
351-6885
Approval of a preliminary and final
LSNRO plan.
To permit construction of an
office
building.
A triangular tract of land
north-
east of Mormon Trek Blvd.
2.81 acres
Undeveloped; CO -1
North - vacant (Ty'n Cae,
Part
III); PDH -8
East - vacant (West Side
Park);
CI -1
South - U.S. Highway 218
West - U.S. Highway 218
Commercial
August 11, 1986.
Water service will be available to
the site from a 12 inch line ex-
tending along Mormon Trek Blvd. Use
of a septic system is proposed.
Police and fire protection are
available.
Access to the site is provided by
Mormon Trek Boulevard, a paved,
arterial street.
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Physical characteristics: The site is moderately to greatly
sloping, draining to the west into
a branch of Willow Creek located on
the north property line. No portion
of the site is identified in the
100 year flood plain.
BACKGROUND
The Johnson County Farm Bureau has purchased a 2.81 acre site in the southwest-
ern portion of Iowa City. This "remnant parcel", the result of development of
adjacent parcels and the realignment of Mormon Trek Boulevard, has recently
been annexed to Iowa City and rezoned CO -1. The Farm Bureau intends to con-
struct a one story, 3,360 square foot building which will house the Johnson
County Farm Bureau offices and the Farm Bureau Insurance Services. This use is
permitted by right in the CO -1 zone.
j A proposed stormwater management system is shown on the site plan but, until
the stormwater management calculations submitted by the applicant are reviewed
by the Engineering Division of the Public Works Department, the effectiveness
of the proposed system cannot be evaluated.
Section 33.73(a) of the Code requires that the proposed development connect to
the City's sanitary sewer service if such service is available within 300 feet
of the development's property lines. The applicant is pursuing the option of
connecting to the sanitary sewer service located within West Side Park, a
i distance of approximately 360 feet. Because of the terrain of this tract,
y however, a sewage pump would be required in order to access the service avail-
able in West Side Park. If this alternative is not selected by the applicant,
a septic system, as proposed on the site plan, may be used. Approval of this
alternative means of sewage disposal must be approved by the Johnson County
Board of Health. At the time that the City's sanitary sewer service is avail-
able within 300 feet of the development, the development must connect to this
service.
The site plan reflects that the applicant proposes to grade a 15 -foot shoulder
adjacent to Mormon Trek Boulevard. The 3:1 slope proposed for the area adja-
cent to the shoulder, however, is regarded too steep by the Engineering Divi-
sion and the applicant is required to modify the site plan to reflect a 4:1
grade. An 8 -foot wide sidewalk is to be installed by the applicant within the
shoulder at such time that sidewalks in the Ty'n Cae Subdivision, Part 3, are
in place. The City agrees to pay for the installation of half the cost of an
8 -foot wide sidewalk.
The proposed development lies along a curve on Mormon Trek Boulevard. Due to
the limited visibility as a result of this curve where the southerly portion of
the property abuts Mormon Trek Boulevard, rezoning of the subject property from
Johnson County zone R -1A to CO -1 was conditioned on the location of only one
curb cut to be placed anywhere within 200 feet of the north property line of
this tract. The former owners of the property (Richard and Florence Davis) and
the Johnson County Farm Bureau entered into an agreement (dated September 17,
1985) with the City which establishes a covenant running with the property that
assures the City that the location of the access to Mormon Trek Boulevard is
governed by the condition referred to above. The terns of the agreement (copy
attached) specifically state that "...the property shall have no more than one
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means of access (i.e., curb cut) onto Mormon Trek Boulevard, which means of
access may be located anywhere within 200 feet of the north property line of
the property. No curbcut ma be located south of the 200 foot line." (empha-
sis added). There ore, a app scan may exercise wo op tons to or er to meet
the conditions of the agreement:
1. Move the access onto Mormon Trek Boulevard northerly so that no curb cut is
located beyond 200 feet of the north property line of the property, or
2. Amend or revise the agreement to permit a curb cut beyond 200 feet of the
north property line of the property.
A portion of the tract falls within the approach and transitional zones of the
airport overlay zone. Although the height of the proposed building (14 feet
per Code definition) does not appear to approach the height limitations of
these zones, an evaluation of this proposal must be obtained from the Airport
Manager. The property is not in the clear zone and is, therefore, not subject
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to use restrictions.
Commercial offices are required to provide one off-street parking space for
each 200 square feet of floor area. At this rate, the proposed development
must provide 17 spaces; 17 spaces are shown on the development site plan.
Section 36-73(a)(2)a of the Zoning Ordinance requires that trees planted adja-
cent to the street right-of-way be planted at a rate of one large tree for
every 40 feet of lot frontage or one small tree for every 30 feet of lot front-
age. The proposed development, with a lot frontage of 647.6 linear feet must
provide at least 16 large trees adjacent to the Mormon Trek right-of-way. The
site plan depicts 16 trees within the required distances from the right-of-way
line. All of these proposed trees meet the size requirements of a large
deciduous tree as defined in Section 36-72(e)(1) and are referred to in the
"List of Recommended Trees for Iowa City." Because the total number of parking
spaces required of this development does not exceed 18 parking spaces, the
requirements of Section 36-73(b) do not apply.
The north property line of the proposed Farm Bureau development abuts an area
which is zoned for residential purposesSection 36-76(j) of the Zoning Ordi-
nance sets forth screening requirements. in the case where a lot occupied by a
commercial use abuts a residential zone. The ordinance requires that screening
be provided along lot lines in a manner sufficient to effectively obscure the
commercial use from view of the residential use. A large grove of trees paral-
lels the northern property line in the northern portion of this tract. If this
grove is retained, the Building Official has indicated that the screening
requirements along the northern lot line could be waived provided that a plant-
ing screen which meets the requirements of Sections 36-76(j)(2) and 36-76(j)(3)
beplaced along the northern boundary of the parking lot depicted on the devel-
opment site plan. If the grove is removed, the requirements of Section
36-76(j) must be satisfied.
STAFF RECOMMENDATION
Staff recommends that consideration of the preliminary and final LSNRD plans be
deferred but that, upon resolution of the concerns referred to above and the
deficiencies and discrepancies listed below, the plans be approved.
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DEFICIENCIES AND DISCREPANCIES
1. A signed Statement of Intent needs to be submitted by the applicant.
2. The stormvater management calculations have not been approved by the Engi-
neering Division of the Public Works Department.
3. The conditions of the agreement establishing the location of the access
onto Mormon Trek Boulevard be satisfied.
4. The slope of the area adjacent to the shoulder of Mormon Trek Boulevard
must satisfy the Engineering Division's requirements.
5. An agreement with the City stipulating the future provision of sidewalks
must be obtained.
6. If a septic system is utilized, approval of the proposed system must be
obtained from the Johnson County Board of Health.
7. The effects on development of this tract as a result of its location in the
approach and transitional zones of the airport overlay zone have to be
evaluated.
8. The screening requirements set forth in Section 36-76(j) must be satisfied.
9. Revised development site plan needs to be submitted.
ATTACHMENTS
1. Draft of the Applicant's Statement of Intent.
2. Location Map.
3, Existing Site Plan.
4. Development Site Plan.
5. Airport Overlay Zones.
6. Ordinance No. 86-3279.
Approved by:
on c mo ser, it c or
De artment of Planning
and Program Development
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- D R A F T -
July 2 , 1986
Ms. Karin Franklin, Sr. Planner
Department of Planning 8 Program Development
Civic Center, 410 E. Washington Street
Iowa City, Iowa 52240
�..- ----- � -o r.*—f fnw Inhnaon Countv Farm Bureau's Large Scale
Dear Ms. Franklin:
The following information and materials are herewith submitted in accordance
with the requirements for -a Statement of Intent for a Large Scale Non -
Residential Development Plan:
a. Evidence of Ownership:
A Copy of the executed Warranty Deed for the tract of land
is attached for your information.
b. Description of the Proposed Development:
The Johnson County Farm Bureau intends to construct a single
story, frame office building, having a floor area of approximately
3380 square feet, Portland cement concrete drives, parking area,
and sidewalks, a stormwater storage facility and related
appurtances, site grading and landscaping as illustrated on the
L.S.N.R.D. Plan. A major portion of the tract will remain
undeveloped at the present time.
C. Intended Time Schedule for Completion:
Pending timely approval of the L.S.N.R.D. Plan by the City of
Iowa City, Johnson County Farm Bureau intends to award contract(s)
for the construction of the above described improvements during the
month of July, with an anticipated completion date of December,
1986.
It is understood that at the time the development of the residential areas to
the north is completed, Farm Bureau will be required to install an eight foot
(8') wide sidewalk along the Mormon Trek Boulevard frontage. It is further
understood that the City of Iowa City, In requiring the extra width, will pay
for one-half, four feet (41) of that width.
Respectfully Submitted,
Johnson County Farm Bureau
Vincent Horst, Manager
enol,
0171003C.03/22
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.n_. PRELIMINARY 8 FINAL L.S.N. R.D. PLAN
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DEVELOPMENT SITE PLAN
1 JOHNSON COUNTY FAMM BUREAU
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AIRPORT OVERLAY ZONES
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ORDINANCE NO. 86-3279
ORDINANCE AMENDING THE ZONING ORDINANCE BY
CHANGING THE USE REGULATIONS OF CERTAIN
PROPERTY LOCATED NORTHEAST OF MORMON TREK
BOULEVARD.
THE CITY COUNCIL OF IOWA CITY, IOWA,
HEREBY FINDS THAT:
I. The property described in Section I
_ below (subject property), located
immediately south and west of the
current corporate limits of Iowa City,
Iowa, is presently classified in the
county as Urban Residential (R1-A),
2. The Johnson County Farm Bureau has
agreed to purchase the subject prop- I
erty if it is annexed and rezoned to
Commercial Office (CO-1) to permit the
construction of an office building.
3. The applicant is currently unable to
develop the property within the County
since the Johnson County Health De-
partment will not issue a septic
permit for property adjacent to the
corporate limits of Iowa City which
could be served by municipal sanitary
sewers.
4. Commercial Office zoning of the sub-
ject property is consistent with the
recommendations of the Comprehensive
Plan, and surrounding land use pat-
terns, and is compatible with the use
of neighboring properties as zoned.
✓ 5. In order to ensure the public health,
safety and welfare, and as a condition
of zoning approval, the site should be
limited to a single curb-cut to be
located anywhere within 200 feet of
the north property line of the subject
Pr
operty.
1 NOW, THEREFORE, BE IT ORDAINED BY THE CITY
COUNCIL OF THE CITY OF IOWA CITY, IOWA,
THAT:
SECTION I. Subject to the conditions set
arch n the Agreement attached hereto as
Exhibit A, and incorporated herein by
reference, the zoning classification of
the property described below is hereby
changed from its present classification of
RI-A in the county to CO-1, and the
boundaries of the CO-1 zone as shown on
the zoning map of the City of Iowa City,
Iowa, shall be changed to include the
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C inance No. 86-3279
Page 2
property located in Johnson County, Iowa,
northeast of Mormon Trek Boulevard, and
identified as follows:
Beginning at the Northeast Corner of
the Southeast Quarter, of the Northwest
Quarter of Section 20, Township 79
North, Range 6 West, of the 5th Princi-
pal Meridian; thence S 01002-24- W,
487.06 feet along the East Line of said
Northwest Quarter, of Section 20, to
its intersection with the Northeasterly
Right -of -Way Line of Mormon Trek Boule-
vard as relocated; 'thence N 68013100'
W, 0.49 feet to an iron pin found,
which is 70 feet radially distant
Northeasterly of center line station
5110+87.7; thence N 55014120• W. 193.60
feet along said Right -of -Way Line to an
iron Right -of -Way marker found, which
Is 70 feet along said Right -of -Way Line
to an iron right-of-way marker found,
which is 70 feet radially distant
Northeasterly of center line station
5114+94.0; thence N 25055120• W, 276.51
feet along said Right -of -Way Line to
its intersection with the North Line of
the South Half of the said Northwest
Quarter of said Section 20; thence S
89010137" E, along said North Line
405.42 feet to the Point of Beginning.
Said tract contains 2.81 acres more or
less.
SECTION II. As of the effective date of
IFfs QrM ance, the Building Inspector is
hereby authorized and directed to change
the zoning map of the City of Iowa City,
Iowa, to conform to this amendment.
SECTION III. Immediately after the effec-
viie da- a Fereof, and upon receipt of the
amount of the recording fee from the
property owner, the City Clerk, is hereby
authorized and directed to certify a copy
of this Ordinance to the Recorder of
Johnson County, Iowa, for recording.
SECTION IV. REPEALER: All ordinances and
parts of ordinances in conflict with the
provisions of this Ordinance are hereby
repealed.
SECTION V. SEVERABILITY: If any section,
provision or part—of-Ms Ordinance shall
be adjudged to be invalid or unconstitu-
tional, such adjudication shall not affect
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Oi ,iance No. 86-3279
Page 3
the validity of the Ordinance as a whole
or any section, provision or part thereof
not adjudged invalid or unconstitutional. '
SECTION VI. EFFECTIVE DATE: This Ordi-
nance shall be in effect, after its final
passage, approval and publication as
required by law, only after completion of
the City's annexation of the property
described in Section I.
Passed and approved this 11th by of
February, 1986.
MA
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ATTEST:
UITITCLERK
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Roeolved ; Ap4roved
6y ? a 5n1 D0,01d enf
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It was moved by McDonald and seconded by Courtney
that the finance as rea e a opted and upon roll call there
were:
AYES: MAYS: ABSENr:
xANMRISCO
X BAKER
X COURTNEY
i X DICKSON
X MCDONALD
X STRAIT
X WEER 1
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First consideration/14186 i
Vote for passage: Ayes: Dickson, McDonald, Strait,
Zuber, Ambrisco, Baker, Courtney. Nays: None. I:
Second consideration 1/28/86
Votefor passage Ayes: na trait, Zuber,
Ambrisco, Baker, Courtney, Dickson. Nays: None.
Date published 2/19/86 i
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Exhibit A
AGREEMENT
THIS AGREEMENT, dated as of the 17th day of December, 1985, by and between
the City of Iowa City, a municipal corporation (hereinafter referred to as i
"City-) and the Johnson County Farm Bureau, Richard H. Davis and Florence E.
Davis (hereinafter coilectibly referred to as -Applicants").
f
. II
WITNESSETH
WHEREAS, Richard H. Davie and Florence E. Davis own a parcel of land located
northeast of Mormon Trek Boulevard, contiguous to the corporate limits of the
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City, legally described on Exhibit A which is attached hereto (the 'prop- ! ".
erty-); and
is
WHEREAS, the Johnson County Farm Bureau has contracted to purchase said
property if it is annexed by the City, and zoned for office use; and
WHEREAS, the City has agreed to annex the property; and
✓ WHEREAS, because of the location of the property on a curve on Monson Trek
Boulevard, it would be dangerous to allow any curb cuts (i.e., means of
access) where the southerly portion of the property abuts Monson Trek Boule-
vard; and
✓ WHEREAS, the City will zone said property for office use only If the Appli-
cants agree that only one curb cut will be allowed from the property onto
Mormon Trek Boulevard.
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NOW, THEREFORE, the parties agree to as follows:
AGREEMENTS
1. The above-described property shall have no more than one means of access
(i.e.. curb cut) onto Mormon Trek Boulevard , which means of access may be
located anywhere within 200 feet of the north property line of the prop-
erty. No curb cut may be located south of the 200 foot line.
2. The terms of this Agreement may be amended, revised, or terminated by the
City only by adoption of an ordinance specifically amending Ordinance No,
86-3279 , to which this is attached.
3. This Agreement shall be a covenant running with the property, and shall
be binding upon and shall inure to the benefit of the parties hereto,
their heirs and personal representatives, successors and assigns.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as
of the day and date first above written.
ATTEST:
Secretary l
Richard H. Oaf
JOHNSON COUNTY FARM BUREAU
By:
a
F Jence E. Oav s
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CITY OF IOWA CITY
r_
ATTEST: ayor Lt
t Clerk
STATE OF IOWA )
JOHNSON COUNTY ) SS:
On this 1�qq day of
in and fo�State o owa 1985, before me a Notary public
persona y appeared ���y���
s say a e are the to me pe sonally known, who, ein +r` -and
of said corporation, that the sea and me duly ;
said corporation, and that said instrument was signed andu sealedson be alf of
s id rporation by auth ri y of its board of directors and the said
and i acknowledged the execution of sal n_
str to be a vo untary act
ily executed. and deed of said corporation by it voluntar-
40tPu"bj1—jc �inState �ofjowa��I
STATE OF IOWA )
JOHNSON COUNTY ; SS:
On this,�� day of
in and fo Fie State of a f° y ., 1985, before me, a Notary Public
E. Davis, husband and wife to me knoona Y appn toeared Richard Davis and Florence
executed the foregoing instrument, and wacknowledged be the pthat they named
executed who
the
same as their voluntary act and deed
notaypublic in and oris d County an Sate
BY i5� loaf C)"
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STATE OF IOWA )
) SS:
JOHNSON COUYIY )
On this 11th day of Februa , 1986, before me, the undersigned,
a Notary Pub 1c in an or a State of Iowa, personally appeared William
J. Ambrisco 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 to which this is attached, that the seal affixed thereto is
the seal of said municipal corporation; that said instrlanent was signed
and sealed on behalf of said municipal corporation by authority of its
City Council; and that the said William J. Ambrisco and Marian K. Karr
as such officers acknowledged the execution of said instrument to be the
voluntary act and deed of said municipal corporation, by it and by them
voluntarily executed.
oaln>t1o.11
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Notary pu licyn and ror said County ni State
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RESOLUTION NO.
RESOLUTION APPROVING THE PRELIMINARY AND FINAL PLATS OF HIGHLAND
HEIGHTS SUBDIVISION OF JOHNSON COUNTY, IOWA.
WHEREAS, the owner, Richard F. Ovorsky, has filed with the City Clerk of Iowa
City, Iowa, an application for approval of the preliminary and final plats of
Highland Heigh s Subdivision, a subdivision of Johnson County, Iowa, which is
legally describN as follows: 7
Commencing at Standard Concrete Monument found at the Northwest
Corner of the uthwest quarter of Section 19, ownship 80 North,
Range 5 West of a 5th Principal Meridian; the ce N 90000'00" E; (a
recorded bearing) along the North Line of t e South half of said
Section 19, 1294.3 feet; thence S 0o°00'0 ' W, 5.73 feet, to the
Point of Intersectio of the Centerline o the Existing County Road
with the Easterly Rig t -of -Way Line of I a Highway No. 1, and which
Point is the Point of Beginning; then N 89 42'03" E, along said
County Road Centerline, 38.68 feet, a 5/8 -inch iron pin found at
Centerline Station 4+12. ; thence N 9°33'47" E along said Center-
line 770.26 feet; thenc
Centerline, on a 169.28 f
whose 223.35 foot chord bea
along said Centerline, 33.88
along said Centerline, on a
easterly whose 221.26 foot
89056'56" E, along said Cen
995.71 feet, to a Poin
89045'35" W, along the xis
,
a terly 243.90 feet, along said
ius curve, concave Southwesterly,
49009'36" E; thence S 07053'00" E,
thence Southeasterly, 241.37 feet,
foot radius curve, concave North -
d bears S 48054'59" E; thence S
, 18,65 feet; thence S 00°OO'00" W,
e ExistingFence Line; thence N
ence Line, 115.95 feet; thence S
89055'49" W, along th Line of t e Existing Fence, 1324.35 feet;
thence N 00°57'53" W, 99.20 feet; t ence S 89°51'36" W, 254.41 feet,
to an iron rail fo d on the East rly Right -of -Way Line of Iowa
Highway No. 1; then N 13031'36" E, a ong said Easterly Right -of -Way
Line, 492.56 feet an iron rail foun which is 60.00 feet normally
distant Southea terl,y of Centerline Station 206+00; thence N
09042'39" E, al g said Easterly Right- f -Way Line 138.32 feet, to
the Point of Be inning.
WHEREAS, the pro osed subdivision is located �, Johnson County and within
Iowa City's two ile extraterritorial jurisdiction; and
WHEREAS, the apartment of Planning and Program D velopment and the Public
Works Depart ant have examined the proposed prelim ary and final plats of
said su/diveion and have recommended approval of sam and
WHEREASpreliminary and final plats of said subdi ision have been exam-
ined byPlanning and Zoning Commission and after ue deliberation the
Comnisss recommended that they be accepted and app ved; and
WHEREAS, the preliminary and final plats are found to conform with all of the
Pertinent requirements of the City ordinances of the City of Iowa City, Iowa.
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j Resolution No.
Page 2
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCI OF THE CITY OF IOWA CITY,
IOWA:
1. That the preliminary and final plats• of ighland Heights Subdivision, a
subdivision of ohnson County, Iowa, is reby approved.
2. That the Mayor a City Clerk of the ty of Iowa City, Iowa, are hereby
authorized and di cted to execute a legal documents relating to said
subdivision and to ertify the appr al of this Resolution, which shall
j be affixed to the pr liminary and f nal plats after passage and approval
by law.
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It was moved by and seconded by
the Resolution be adopte an upon roll call there were:
AYES: YS: ABSENT:
Ambrisco
Baker i
Courtney
' Dickson I
McDonald
Strait
Zuber
Passed and approved thi day of 1986.
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MAYOR I I
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ATTEST:
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CITY CL K
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8 App vee
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STAFF REPORT
To: Planning & Zoning Commission Prepared by: Monica Moen
Item: 5-8615 Highland Heights Subdivision Date: July 24, 1986
GENERAL INFORMATION
Applicant: Richard Dvorsky
Requested action:
Purpose:
Location:
Site size:
Existing land use and zoning:
Existing improvements:
Surrounding land use and zoning:
Fringe area:
Applicable regulations:
45 -day limitation period:
R.R. 2, Box 241
Iowa City, Iowa 52240
Preliminary and final subdivision
plat approval.
To establish a four -lot subdivi-
sion.
Southeast corner of Highway 1 and
Dingleberry Road, approximately
two miles north of Iowa City,
Iowa.
45.00 acres.
Agricultural; Al - 42.00 acres,
RS - 3.00 acres.
None.
North - Farmstead, agricultural;
Al
East - Agricultural; Al.
South - Agricultural; Al.
West - Highway 1, agricultural;
Al.
Area 4.
Provisions of the Iowa City
Subdivision Regulations, Fringe
Area Policy Agreement, City Rural
Design Standards, Storm Water
Management Ordinance.
August 18, 1986.
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SPECIAL INFORMATION
Public utilities:
Public services:
Transportation:
Topography:
STAFF ANALYSIS
Public utilities are presently
not available. Individual septic
systems will be provided for
sewage disposal and water will be
supplied by individual wells. The
plat shows an easement for tele-
phone, electricity and gas serv-
ices.
Police protection is to be pro-
vided by Johnson County. Fire
protection will be provided by
Solon.
The site is accessible to vehicu-
lar traffic from Oingleberry Road
and by a private street.
The terrain of this site slopes
from east to west and drains to a
low point in the south central
portion of this tract. The low
point of the site is wooded but
the remainder of the area is
Planted in grasses.
The applicant proposes to subdivide this 45 -acre tract, located north of Iowa
City and adjacent to the northern boundary of the City's two-mile extra-
territorial jurisdiction, into four lots. A sizeable portion of this tract
is zoned Al and would continue to be used for agricultural purposes. The
remaining three lots vary in size from 1.0 acre to 1.53 acres and are in-
tended for residential development.
Zoning:
In May, 1986, the Planning and Zoning Commission considered a request to
rezone two non-contiguous tracts within this 45 acre parcel from Al to RS,
Suburban Residential. The map which accompanied the rezoning request is
attached and indicates that Tract A is 2.00 acres in size and Tract B is 1.00
acre. On May 15, 1986, the Commission found this request inconsistent with
the existing policy of the Fringe Area Policy Agreement which advocates
agricultural use for Area 4. The City Council supported the Commission's
position on this rezoning request and notified the Johnson County Board of
Supervisors of the finding that the requested rezoning was contrary to the
Junec 5 s 1986,estahowever, theished for ea0 Board of Supervisors eapprovee ra d threment. On
ea request to
rezone Tracts A and B from Al to RS.
Lots 1, 2 and 3 of the Highland Heights Subdivision, as proposed, are in-
tended to be used for residential purposes; however, these three contiguous
,lots encompass .95 acre more than the 3.00 acre non-contiguous area rezoned
4273
i
for suburban residential use. Rezoning of the additional .95 acre from Al to
RS must be considered and approved before the preliminary and final plats for
this subdivision can be approved. The rezoning would be inconsistent with
the policy for Area 4.
Development Policy:
The right to review the plans of subdivisions proposed within the City's
extraterritorial jurisdiction assures the City of the orderly growth and
development of the area within two miles of its corporate limits. This
assurance is desirable particularly if the City is later required to provide
the infrastructure needed to support those subdivisions. It is also advanta-
geous from the standpoint of controlling the cost to City and County taxpay-
ers of providing support services such as fire protection and bussing
school -aged children to scattered, isolated residential developments. The
Fringe Area Policy Agreement, adopted on December 22, 1983, by both the City
and the County, was deemed to be of mutual advantage to Iowa City and Johnson
County.
The Agreement specifically states that residential development in Area 4
should be discouraged. This type of development is, instead, permitted by
right and encouraged in Area 3, which is located north of Iowa City and
generally bound by the Iowa River on the west and County Road FW8 on the
east. In order to be consistent with the policies and implementation meas-
ures outlined in the Agreement, residential development in Area 4 should not
occur. A review of the Area 4 policies is presently under discussion but
until those policies are amended, residential development is not recommended
for this area of the county. The only influence which the City has in dis-
couraging residential development in the fringe area, if the land is zoned
residential contrary to an agreed upon development policy, is to impose
design standards which act as a disincentive to that development and protect
the City against the possibility of incorporating substandard developments in
the future.
The Highland Heights Subdivision is located at the periphery of the fringe
area and the likelihood of annexing this subdivision to Iowa City is remote.
Since the site is located in the vicinity of two other small scale residen-
tial developments on Oingleberry Road, the cost of providing support services
to this subdivision should not be burdensome. However, if the City received a
proposal for a county subdivision within Area 4 which was located closer to
the corporate boundaries of Iowa City, the City could not logically approve
the subdivision, given the ambiguity of the development policy in practice
there, without imposing full urban design standards on that subdivision.
Technical Issues:
The stormwater management system shown on the plat has been determined to be
satisfactory for the four lot subdivision as proposed on the preliminary and
final plats. The City Council, however, may permit delay of construction of
the stormwater retention basin shown on said plats provided the owner agrees
that the City has the right to review the installation of such stormwater
retention basin upon occurrence of one of the following events:
1. A resubdivision of any lot within the subdivision,
/0173
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2. The passing of 15 years from the date of final approval of the plat by
the City; or
3. Annexation of the subdivision by the City.
The private wells and individual septic systems must conform to the require-
ments of the Johnson County Health Department. Because this subdivision is
designed such that a new street is required, namely Timberland Place, the
City Rural Design Standards require that telephone and electric utilities be
placed underground.
STAFF RECOMMENDATION
Staff recommends that consideration of the preliminary and final plats for
Highland Heights be denied based on the fact that the subdivision for resi-
dential lots does not jollow the configuration of the property zoned for
residential development.
Staff further recommends that the Planning and Zoning Commission advise the
Council to apprise the Johnson County Board of Supervisors of the City's
concerns regarding the degree of consideration given by the Board to the
mutually agreed upon policies and implementation measures set forth in the
Fringe Area Policy Agreement and that the intent of the City is to require
urban design standards for county subdivisions, as deemed necessary, in those
cases where the development policies of the Fringe Agreement are not upheld
DEFICIENCIES AND DISCREPANCIES
1. The subdivision as proposed on the preliminary and final plats does not
conform to the boundaries of the land zoned RS.
2. Submit the required legal papers, including the provisions for stornmater
management or the deferral thereof and provide an acknowledged statement
from the owner and his/her spouse, if any, that the subdivision as it
appears on the plat is with their free consent and is in accordance with
the desires of the proprietor and his/her spouse.
3. The developer's engineer must submit a letter establishing the fire
rating for the area being developed. A letter of transmittal from the
fire protection district must also be supplied.
4. Make the following revisions on the preliminary and final plats to the
private street;
(a) Indicate a right-of-way width of 60 feet.
(b) Expand the width of the road surface to 22 feet.
(c) Indicate a 6" rolled stone base and a chipseal road surface.
/;113
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(d) Identify the location of and details of any proposed culverts.
(e) Show details of the intersection of Timberland Place with
Dingleberry Road.
(f) Provide a street and ditch profile.
5. Obtain approval of the location of the intersection of Dingleberry Road
and Timberland Place from the City Engineering Division.
6. Show the location of the proposed individual wells and septic systems.
7. Rename the "Auxiliary Plat" either the "Preliminary and Final Plat" or
the "Preliminary Plat."
8. Rename the "Preliminary and Final Plat" the "Final Plat" and include the
name of the subdivision in the title block. Change the date of the
"Final Plat" to the date on which all revisions are made to that plat.
9. Identify "Lot A" as "Lot 4" on both plats.
ATTACHMENTS
1. Location map.
2. Map identifying the rezoned tracts.
ACCOMPANIMENTS
1. Preliminary and final plat.
2. Auxiliary plat.
Approved by:u�
16�
Donald Echmeiser, Director
Department of Planning
and Program Development
/OR ��
S-8615
LOCATION MAP
HIGHLAND HEIGHTS SUBDIVISION
I
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/; 73
5-8615
TRACTS REZONED FROM Al TO RS
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RESOLUTION NO. 86-245
RESOLUTION APPROVING PLANS, SPECIFICATIONS, FORM OF CONTRACT, AND ESTIMATE
OF COST FOR THE CONSTRUCTION OF LANDFILL FORCE MAIN AND L -AO ffl! PUMPING
FACILITIES PROTECT
CLERK TO PUBLISH NOTICE TO BIDDERS, AND FIXING TIME AND PLACE FOR RECEIPT
OF BIDS.
WHEREAS, notice of public hearing on the plans, specifications, form of contract,
and estimate of cost for the construction of the above-named project was published as
required by law, and the hearing thereon held.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IOWA CITY, IOWA:
i
1. That the plans, specifications, form of contract, and estimate of cost for
the construction of the above-named project are hereby approved. `1,j'
2. That the amount of bid security to accompany each bid for the construction
of the above-named project shall be in the amount of ten percent(10%) payable to
Treasurer, City of Iowa City, Iowa.
3. That the City Clerk is hereby authorized and directed to publish notice for
the receipt of bids for the construction of the above-named project in a newspaper
published at least once weekly and having a general circulation in the city not less
than four (4) nor more than twenty (20) days before the date established for the
receipt of bids.
4. That bids for the construction of the above-named project are to be received
by the City of Iowa City, Iowa, at the Office of the City Clerk, at the Civic Center,
until 10:30 A.M. on the 19th day of Au � t�. 19 86. Thereafter, the
bids w3TT a opened Ey the City neer or s eshi d ignee, and thereupon referred to
the Council of the City of Iowa City, Iowa, for action upon said bids at its next
meeting to be held at the Council Chambers, Civic Center, Iowa City, Iowa, at 7:30 p.m.
on the 26th day of August 1986 .
i
i
It was moved by Courtneand seconded by Strnit that the
resolution as read be adopted, an upon roll call there were:
AYES: NAYS: ABSENT:
X Ambrisco
X Baker
X Courtney
X Dickson
_X McDonald
X Strait
X Zuber
Passed and approved this 29th day of Ju1v 19 86.
MAY0R
Zived&App ved
ATTEST: ]%J ) ,�) eLegal9t/A/[CL R.
/07 7A
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RESOLUTION NO. 86-246
RESOLUTION APPROVING PLANS, SPECIFICATIONS, FORM OF CONTRACT, AND ESTIMATE
OF COST FOR THE CONSTRUCTION OF BRIDGE DECK REPAIR PROJECT' (PHASE I),
I
ESTABLISHING "RIDUNT OF BID SECURITY TO ACCOMPANY EACH BID, DIRECTING CITY
CLERK TO PUBLISH NOTICE TO BIDDERS, AND FIXING TIME AND PLACE FOR RECEIPT
OF BIDS.
WHEREAS, notice of public hearing on the plans, specifications, form of contract,
and estimate of cost for the construction of the above-named project was published as
required by law, and the hearing thereon held.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IOWA CITY, IOWA:
1. That the plans, specifications, form of contract, and estimate of cost for
the construction of the above-named project are hereby approved.
2. That the amount of bid security to accompany each bid for the construction
of the above-named project shall be in the amount of ten nercent(10%) payable to
Treasurer, City of Iowa City, Iowa.
3. That the City Clerk is hereby authorized and directed to publish notice for
the receipt of bids for the construction of the above-named project in a newspaper
published at least once weekly and having a general circulation in the city not less
than four (4) nor more than twenty (20) days before the date established for the
receipt of bids.
4. That bids for the construction of the above-named project are to be received
by the City of Iowa City, Iowa, at the Office of the City Clerk, at the Civic Center,
until 10:30 A.M. on the 19th day of Au 5u t 19 86, Thereafter, the
bids w e opened y the City Engineer or hisdesignee, and thereupon referred to
the Council of the City of Iowa City, Iowa, for action upon said bids at its next
meeting to be held at the Council Chambers, Civic Center, Iowa City, Iowa, at 7:30 p.m.
on the 26th day of August , 19 86,
1
It was moved by Dickson and seconded by Courtney that the
resolution as read be adopted, an upon roll call there were:
AYES: NAYS: ABSENT:
x_ Ambrisco
X Baker
X Courtney
X Dickson
x hkDonald
X Strait
X Zuber
Passed and approved this 29th day of July 1986 .
R
i Apj6pved
ATTEST: Yh .; _ _.).. ) 1M Lege rfineM
C T CL
��11
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1. A No Entrance sign to Gilbert off of Kimball. Keep Gilbert 2 lanes, however,
so those living on that hill would still be able to drive up it. from their
driveways. However, they would notabeaable_to enter._from.Kimball,:.either. .
2. A sign at the intersection of Kimball and Governor, pointing to Dodge St.
3. Arrows painted on the street at the Governor & Dodge intersection. The left
lane for straight or 'left turns, the right lane for right turns only.
4. Protected turn on green arrow only stoplights (north and south) on Dubuque
at Church St. intersection.
Proposed by Lowell & Paula Brandt
824 N. Gilbert St.
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RESOLUTION NO. 86-247
RESOLUTION AUTHORIZING APPLICATION FOR EIGHTEEN SECTION 8 EXISTING
HOUSING VOUCHERS AND REQUESTING FUNDS.
WHEREAS, the City of Iowa City is eligible to receive and has made applica-
tion for Rental Rehabilitation Grant Funds under Section 17 of the United
States Housing Act of 1937; and
WHEREAS, the City Council of the City of Iowa City functions as the Iowa City
Housing Authority who has received an invitation to submit an application for
eighteen (18) Section 8 Housing vouchers; and
WHEREAS, the Iowa City Housing Authority presently has a contract with the
Department of Housing and Urban Development to administer the Section 8
Existing Housing Program, contract }KC9033V and wishes to expand that pro-
gram.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA:
1. That the Mayor and City Clerk are hereby authorized and directed to
respectively sign and attest said application to the Department of Hous-
ing and Urban Development for eighteen (18) Section 8 Existing Housing
vouchers.
2. That said application shall be a request for funds under the Section 8
Housing Assistance Payments Plan for existing units.
3. That the City Clerk is hereby authorized and directed to certify appro-
priate copies of this resolution together with any necessary certifica-
tions as may be required by the Department of Housing and Urban Develop-
ment.
It was moved by St and seconded by Dickson
the Res olu on a e op e , an upon roll call there were:
AYES: NAYS: ABSENT:
X Ambrisco
X Baker
X Courtney
X Dickson
McDonald
Strait
Zuber
Passed and approved this 29th day of julg , 1986.
Racelved & Approved
ATTEST: 76 Legal Dpet�.�R�
�Z 6
/;t to
� -. �� _ _,
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86-248
Dickson introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $38,950,000
SEWER REVENUE BONDS," and moved its adoption.
CrmrtnPy seconded the motion to adopt. The
roll was called and the vote was,
AYES: Strait. Ambrisco Baker Courtney
Dickson.
NAYS: None. Absent: McDonald, Zuber
Whereupon, the Mayor declared the following Resolution duly
adopted:
RESOLUTION DIRECTING SALE OF $38,950,000
SEWER REVENUE BONDS
WHEREAS, pursuant to notice as required by law, bids have
been received at public sale for the bonds described as follows
and the best bid received is determined to be the following:
$38,950,000 SEWER REVENUE BONDS:
Bidder: _SMITH BARNEY, HARRIS UPHAM• & CO., INC. of NEW YORK j
the terms of said bid being:
PRICE: $38,174,007.75 NET RATE: 7.891840% !
I
NET INTEREST COST: $54,755,888.08 I
INTEREST RATES: 7.6 0% (1989-1992),
7.709 (1993-2001), 7.808 (2002-2012) {I
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITY, IOWA:
Section 1. That the bid for the bonds as above set out is i
hereby determined to be the best and most favorable bid
received and, said bonds are hereby awarded based on said bid. {
-4-
M-M Cmv, la --1.1 KIN, L Ih & AIIhn, Iw,en. O & Nn I ,
/0? 1?
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86-248
Dickson introduced the following
Resolution entitled "RESOLUTION DIRECTING SALE OF $38,950,000
SEWER REVENUE BONDS," and moved its adoption.
CrmrtnPy seconded the motion to adopt. The
roll was called and the vote was,
AYES: Strait. Ambrisco Baker Courtney
Dickson.
NAYS: None. Absent: McDonald, Zuber
Whereupon, the Mayor declared the following Resolution duly
adopted:
RESOLUTION DIRECTING SALE OF $38,950,000
SEWER REVENUE BONDS
WHEREAS, pursuant to notice as required by law, bids have
been received at public sale for the bonds described as follows
and the best bid received is determined to be the following:
$38,950,000 SEWER REVENUE BONDS:
Bidder: _SMITH BARNEY, HARRIS UPHAM• & CO., INC. of NEW YORK j
the terms of said bid being:
PRICE: $38,174,007.75 NET RATE: 7.891840% !
I
NET INTEREST COST: $54,755,888.08 I
INTEREST RATES: 7.6 0% (1989-1992),
7.709 (1993-2001), 7.808 (2002-2012) {I
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITY, IOWA:
Section 1. That the bid for the bonds as above set out is i
hereby determined to be the best and most favorable bid
received and, said bonds are hereby awarded based on said bid. {
-4-
M-M Cmv, la --1.1 KIN, L Ih & AIIhn, Iw,en. O & Nn I ,
/0? 1?
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Section 2. That the statement of information for bond
bidders and the form of contract for the sale of said bonds are
hereby approved and the Mayor and Clerk are authorized to
execute the same on behalf of the City.
Section 3. That the notices of the sale of the bonds
heretofore given and all acts of the City Clerk and Finance
Director done in furtherance of the sale of said bonds are
hereby ratified and approved.
PASSED AND APPROVED, this 29th day of _ July ,
1986.
ATTEST:
- 5-
Mtm Co . p Ie, IkOe.l Ith { Mbm I� O AYllm Me /� ��
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CIG -3
4-85
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 29th day of July 1986.
S EAL
Cit Clerk, Iowa City, Iowa
�lil. i. 1 r..rY Fw wln Il.r rx. NmIM1 A .Vpne. Iw ynF Iln FYFrw FN,
/OR89
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EVENSEN DODGE, INC.
FINANCIAL CONSULTANTS
TABULATION OF BIDS $38,950,000 Sewer Revenue Bonds
City of Iowa City, Iowa
Dated: August 1, 1986 Due: July 1, 1989/2012 Bond Years: 639,829.167
Average Life: 17.81Splits: 24 Price: Not less than $38,171,000.00
SALE DATE: Tuesday; July 29, 1986 Moody's - A BBI - 7.60
BIDDERS ADDRESS YEAR RATE YIELD
SMITH BARNEY„HARRIS UPHAM.
& CO., INC. New York 1989 7.60 5.75
1990 7.60 6.00
1991 7.60 6.20 PRICE
1992 7.60 6.40
1993 7.70 6.60 $38,174,007.75
1994 7.70 6.80
1995 7.70 7.00
1996 7.70 7.20 NIC ;
1997
7.70
7.40
1998
7.70
7.50
54,755,888.08 -
1999
7.70
7.60
2000
7.70
7.70
2001
7.70
7.80
NIR
2002
7.80
7.85
2003 -
7.80
7.90.
7.891840%
2004
7.80
7.95
2005.:7.80
..8.00
r:
2006
7.80
8.00
2007
7.80
8.05.
-:
2008
7.80
8.05
2009
7.80
8.10
2010
7.80.
8.10,
2011
7.80
.8.15
.,
2012
7.80
8.15
3608 IDS Tower, Minneapolis Minnesota 55402 612/338.3515 800/328-8200 800/328.8100 Minnesota
/A r?
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BIDDERS
ADDRESS
YEAR RATE
YIELD
MORGAN, STANLEY '& CO., INC.
New York
1989 7.70
1990 7.70
1991 7.70
PRICE
1992 7.70
1993 7.70
$38,175,002.25
1994 7.70
1995 7.70
NIC
1996 7.70
1997 7.70
54,965,014.42
1998 7.70
1999 7.70
NIR
2000 7.75
---
2001 7.80
7.92198%
2002'180,';
2003 780
2004 780
2005 7.80
2006 7.80
2007 7.80
2008 7.80
2009 7.80
2010 7.80
2011 7.90
-.
2012 7.90
GOLDMAN, SACHS & CO:
Shearson Lehman Brothers, Inc.
New York
New York
1989 7.30
The First Boston'Corporation
New York
1990 7.30
19917.30
Lazard.Freres':& Co. :1,1
New York
1992 7.30
PRICE
I Donaldson; Lufkin, Jenrette
Securities Cor oration
1993 7.30
$38,175,467.00
IN ASSOCIATION WITH
New York
1994 7.30
LLATIUN tJKUWTJ & ASSOCIATES, INC.
Griffin, Kubik, Stephens &
Chicago
1995 7'30
NIC
Thompson, Inca
Chicago
1997 7.40
1998 7.60
55,171,635.08
Aid Securities:Corp.
Taylor Byrne Securities, Inc.
Des Moines
1999 7.70
NIR
New York
2000 7.80
2001 7.90
7.951761e
2002 7.90
2003 7.90
2004 7.90
2005 7.90
2006 7.90
2007'; 7.90
2008 7.90
2009 7.90
2010 7.90
2011 7.90
2012 7.90
i• 4.t"� r 4
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ADDRESS YEAR RATE YIELD
BIDDERS
New
York
1989 7.00
SALOMON BROTHER, INC.
1990 7.00
1991 7.00
1992 7.00
1993 7.00
1994 7.00
1995 7.20
1996 7.40
1997 7.50
1998 7.60
1999 7.70
2000 7.75
2001 7.90
2002 7.90
2003 8.00
2004 8.00
2005 8.00
2006 8.00 .
2007 8.00
2008 8.00
2009 8.00
2010 8.00
2011 8.00
2012 8.00
MERRILL LYNCH CAPITAL MARKETS
Minneapolis
Chicago
1989 5.75
1990 6.00
JOHN NUVEEN & CO., INC.
Minneapolis
1991 6.25
DAIN BOSWORTH, INC.
Minneapolis
1992 6.50
PIPER, JAFFREY & HOPWOOD
Chicago
1993 6.75
BLUNT, ELLIS & LOEWI, INC.
'I
New York
1994 7.00
1995 7.20
BEAR STEARNS & CO.
Hutchinson, Shockey, Erley & CO-
ChicaDes gines
1996 7.30
R.G. Dickinson & Co.
Corporation of Iowa
Chicago
1997 7.40
1998 7.50
Securities
Shaw, McDermott & Co.
Des Moines
St. Paul
1999 7.60
Juran & Moody, Inc.
Securities, Inc.
Chicago
2000 7.10
2001 7.75
Columbian
Croake Roberts, Inc.
Chicago
2002 7.75
IN ASSOCIATION WITH:
Chicago
2003 7.75
DEAN WITTER REYNOLDS, INC.
SECURITIES, INC.
2004 7.75
2005 8.00
PRUDENTIAL
PAINEWEBBER, INC.
Chicago
2006 8.00
2007 8.00
2008 8.15
2009 8.15
2010 8.20
2011 8.20
2012 B.20
PRICE
$38,171,641.75
NIC
55,646,020.75
NIR
8.0201%
PRICE
$38,171,000.00
NIC
55,897,525.00
NIR
8.05638%
IOR ry
I
�: 18 86- 249
w
July 29 1986
The City Council of Iowa City, Iowa, met in
regular session, in the Civic Center, Iowa City, Iowa, at
7:30 o'clock P .M., on the above date. There were present
Mayor Ambrisco in the chair, and the following
m
naed Council Members:
Ambrisco, Baker, Courtney Dickson Strait
Absent: McDonald. Zuber
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86-249
Member Strait introduced the following
Resolution entitled "A RESOLUTION AUTHORIZING AND PROVIDING FOR
THE ISSUANCE AND SECURING THE PAYMENT OF $38,950,000 SEWER
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. Member
Dickson seconded the motion to adopt. The roll
was called and the vote was:
AYES ; Strait. Ambrisco. Raker, Courtney,
Dickson.
NAYS : None. Absent: McDonald. Zuber
Whereupon the Mayor declared the following Resolution duly
adopted:
A RESOLUTION AUTHORIZING AND PROVIDING FOR THE
ISSUANCE AND SECURING THE PAYMENT OF $38,950,000
SEWER 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 hereinafterreferred 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 Sanitary Sewer Utility, sometimes hereinafter
referred to as the "System", and said revenues have not been
pledged and are available for the payment of Revenue Bonds,
subject to the following premises; and
WHEREAS, Issuer proposes to issue its Revenue Bonds to the
extent of $38,950,000 for the purpose of defraying the costs of
the project as set forth in Section 3 of this Resolution; and
WHEREAS, the notice of intention of Issuer to take action
for the issuance of not to exceed $41,450,000 Sewer Revenue
Bonds has heretofore been duly published and no objections to
such proposed action have been filed:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITY, IN THE COUNTY OF JOHNSON, STATE OF IOWA:
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Section 1. Definitions. The following terms shall have
the following meanings in this Resolution unless the text
expressly or by necessary implication requires otherwise:
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(a) "Issuer" and "City" shall mean the City of Iowa
City, Iowa;
j (b) "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;
(c) "Clerk" shall mean the City Clerk or such other
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I officer of the successor governing body as shall be charged j
with substantially the same duties and responsibilities; i
(d) "Treasurer" shall mean the City Treasurer or such i
other officer as shall succeed to the same duties and
responsibilities with respect to the recording and payment
of the Bonds issued hereunder;
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(e) "System" shall mean the municipal sanitary sewer
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;
(f) "Net Revenues" shall mean gross earnings of the
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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 I
funds established herein. Capital costs, depreciation and
interest or principal payments are not system expenses;
(g) "Fiscal Year" shall mean the twelve months'
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 accounting period of the
System;
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(h) "Registrar" shall be the City Controller of the
City 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 registrar of the owners of the bonds. Unless
otherwise specified, the Registrar shall also act as
Transfer Agent for the bonds.
(i) "Paying Agent" shall be 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 Issuers agent to provide for the payment of principal of
and interest on the bonds as the same shall become due.
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(j) "Original Purchaser" shall mean the purchaser of
i the Bonds from Issuer at the time of their original
issuance;
(k) "Bonds" shall mean $38,950,000 Sewer Revenue
Bonds, authorized to be issued by this Resolution;
(1) "Parity Bonds" shall mean Sewer Revenue Bonds
payable solely from the net revenues of the System on an
equal basis with the Bonds herein authorized to be issued;
(m) "Corporate Seal" shall mean the official seal of
Issuer adopted by the governing body;
(n) "Independent Auditor" shall mean an independent
firm of Certified Public Accountants or the Auditor of
State; and
(o) "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.
Section 2. Authorit . 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 ssued, negot able, serial, fully registered
Revenue Bonds of Iowa City, in the County of Johnson, state of
Iowa, Series 1986, each to be designated as Sewer Revenue
Bond", in the aggregate amount of $38,950,000 for the purpose
of paying costs of the acquisition, construction, extending,
improving and equipping of wastewater conveyance and treatment
facilities of the municipal sanitary sewer utility.
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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
i 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. Sewer Revenue Bonds of the City
in the amount of $38,950,000 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 SEWER REVENUE
BOND", be dated August 1, 1986, and bear interest from the date
thereof, until payment thereof, at the principal office of the
Paying Agent, said interest payable on January 1, 1987 and
semiannually thereafter on the 1st day of July and January in
each year until maturity at the rates hereinafter provided.
The bonds shall be executed by the facsimile signature of
the Mayor and attested by the facsimile signature of the City
Clerk, and printed or impressed 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 each 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
7.60
$ 650,000
1989
7.60
$ 625,000
1990
7.60
$ 725,000
1991
7.60
$ 775,000
1992
7.70
$ 825,000
1993
7.70
$ 900,000
1994
7.70
$ 950,000
1995
7.70
$1,000,000
1996
7.70
$1,100,000
1997
7.70
$1,175,000
1998
7.70
$1,250,000
1999
7.70
$1,350,000
2000
7.70
$1,450,000
2001
7.80
$1,575,000
2002
7.80
$1,700,000
2003
7.80
$1,825,000
2004
7.80
$1,975,000
2005
7.80
$2,125,000
2006
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7.80
$2,300,000
2007
7.80
$2,500,000
2008
7.80
$2,700,000
2009
7.80
$2,925,000
2010
7.80
$3,150,000
2011
7.80
$3,400,000
2012
Section 6. Redemption. Bonds maturing after July 1, 1995,
may be called for redemption by the Issuer at its sole option
and paid before maturity on said date or any interest payment
date thereafter, from any funds regardless of source, in whole
or from time to time in part, in inverse order of maturity and
within an annual maturity by lot by giving thirty days notice
of redemption by registered mail, to the registered owner of
the bond. The terms of redemption shall be accrued interest to
date of call, and a price expressed as a percentage of par, as
follows:
Redemption
Date
Price
July
1,
1995
and
January
1, 1996
101.5%
July
1,
1996
and
January
1, 1997
101.0%
July
1,
1997
and
January
1, 1998
100.5%
July
1,
1998
and
thereafter
100.0%
If selection by lot within a maturity is required, the
Registrar shall by random selection of the names of the
registered owners of the entire annual maturity select the
bonds to be redeemed until the total amount of bonds to be
called has been reached.
Section 7.
(a) Reoistra tion. 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 registrar of the bonds 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.
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(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 principal 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 of a 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) R�istration 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 sum or sums so paid.
(e) Cancellation. All Bonds which have been redeemed
shall not be re ssued 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 Issuers provided
that if the Issuer shall so direct, the Registrar shall
forward the cancelled Bonds to the Issuer.
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(f) Non -Presentment of Bonds. In the event any
payment check representing payment of 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 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.
Section 8. 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 j
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 9. 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 of the month 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.
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Section 10. Execution, Authentication and Delivery of the
Bonds. upon the adoption of this resolution, the Mayor and
City clerk shall cause the Bonds to be executed and delivered
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.
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iSection 11. Form of Bond. Bonds shall be printed in
substantial compliance with standards proposed by the American
Standards Institute substantially in the form as follows:
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(1)
(2) (3) (4) (5)
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(9) I .
(9A) 11
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(10)
(continued on the back of this Bond)
(11)(12)(13) (14 C_(15)
FIGURE 1
(Front)
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(10) (16) (17)
(Continued)
FIGURE 2
(Back)
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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"
"SEWER REVENUE BOND"
"SERIES 1986-1
Item 2, figure 1 = Rate:
Item 3, figure 1 = Maturity:
Item 4, figure 1 = Bond Date: August 1, 1986
Item 5, figure 1 = Cusip #
Item 6, figure 1 = "Registered"
Item 7, figure 1 = Certificate No.
Item 81 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
lawf ul money of the United States of America, on the maturity
date shown above, only upon presentation and surrender hereof
at the principal office of the City Controller of Iowa City,
Iowa, 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 January 1, 1987, and
semiannually thereafter on the is t day of July and January in
each year.
Interest 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 of the month next 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, for the purpose of paying
costs of the acquisition, construction, extending, improving
and equipping of wastewater conveyance and treatment facilities
of the Municipal Sanitary Sewer Utility, in conformity to a
Resolution of the City Council of said City duly passed and
approved.
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Bonds maturing after July 1, 1995, may be called for
redemption by the Issuer and paid before maturity on said date
or any interest payment date thereafter, from any funds
regardless of source, in whole or from time to time in part, in
inverse order of maturity and within an annual maturity by lot
by giving thirty days' notice of redemption by registered mail,
to the registered owner of the bond. The terms of redemption
shall be accrued interest to date of call and a price,
expressed as a percentage of par, as follows:
Redemption Date Price
July
1,
1995
and
January
1, 1996
101.58
July
1,
1996
and
January
1, 1997
100.08
July
1,
1997
and
January
1, 1998
100.58
July
1,
1998
and
thereafter
100.08
Ownership of this bond may be transferred only by transfer
upon the books kept for such purpose by the City Controller of
the Issuer, the Registrar. Such transfer on the books shall
occur only upon presentation and surrender of this bond at the
principal office of the Registrar, 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, give 60 days' 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.
This Bond and the series of which it forms a part, other
bonds ranking on a parity therewith, and any additional bonds
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 from and secured by a pledge of the net
revenues of the Municipal Sanitary Sewer 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.
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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 hasi _
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
authenticated by the manual signature of the Registrar, the
City Controller of the City of Iowa City, Iowa.
Item ll, .figure 1 = Date of authentication:
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Item 12, figure 1 = This is one of the bonds described in
the within mentioned resolution, as
registered by the City Controller of
the City of Iowa City, Iowa. j
By j
Registrar
Item 13, figure 1 = Registrar and Transfer Agent:
City Controller, Civic Center, j
Iowa City, Iowa
Paying Agent: City Controller, Civic Center, '
Iowa City, Iowa
Item 14, figure 1 = (seal)
Item 15, figure 1 = (Signature Block]
City of Iowa City, Iowa
By: MaYor's facsimile signature
Mayor _;.
Attest: 24'2M
ity Clerk's facsimile signature f
City Clerk
1 i=
Item 16, figure 2 = It is certified that the following is
a correct and complete copy of the opinion
of bond counsel issued as of the date of
delivery of the issue of which this bond is
a part.
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(facsimile signature)
City Clerk
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Mlm, Curry. fwy .. 4r..h { MR.,, I.rwyerx 1l AY.r " Lr w.
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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 hasi _
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
authenticated by the manual signature of the Registrar, the
City Controller of the City of Iowa City, Iowa.
Item ll, .figure 1 = Date of authentication:
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Item 12, figure 1 = This is one of the bonds described in
the within mentioned resolution, as
registered by the City Controller of
the City of Iowa City, Iowa. j
By j
Registrar
Item 13, figure 1 = Registrar and Transfer Agent:
City Controller, Civic Center, j
Iowa City, Iowa
Paying Agent: City Controller, Civic Center, '
Iowa City, Iowa
Item 14, figure 1 = (seal)
Item 15, figure 1 = (Signature Block]
City of Iowa City, Iowa
By: MaYor's facsimile signature
Mayor _;.
Attest: 24'2M
ity Clerk's facsimile signature f
City Clerk
1 i=
Item 16, figure 2 = It is certified that the following is
a correct and complete copy of the opinion
of bond counsel issued as of the date of
delivery of the issue of which this bond is
a part.
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(facsimile signature)
City Clerk
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Mlm, Curry. fwy .. 4r..h { MR.,, I.rwyerx 1l AY.r " Lr w.
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.
Da ted
(Person(s) executing this Assignment signs) 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
should be made by a member or member organization of the
New York Stock Exchange, members of other Exchanges having
signatures on file with transfer agents or by a commercial
bank or trust company.
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[Opinion of Bond Counsel]
Item 17, figure 2 = [Assignment Block]
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(Information Required for
Registration]
ASSIGNMENT
For value received, the undersigned hereby sells, assigns
and transfers unto
Identification No. (Social Security or Tax
hereby irrevocably constitute and a ) the within Bond and does
attorney in fact to transfer ppoint ,
for registration of the with premises in Bondthe said with full ower of
Bond On -the kept
substitution in the .
Dated I (_
(Person(s) execut ng this Assignment sign(s) here)
SIGNATURE )
GUARANTEED)
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IMPORTANT - READ CAREFULLY
The signature(s) to this
Power
with
name(s) as written upon the face uof therespond certificate(s)eor
bond(s) in every particular without alteration or
enlargement or any change whatever. Signature guarantee f '
Should be made by a member or member organization of the
New York Stock Exchan e
signatures on file withlmembers of other Exchanges having
g transfer agents or by a commercial
bank or trust company.
INFORMATION REQUIRED FOIg 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
orporation
Trust
*If the bond is to be registered in the names am
i es i
individual of
1 owners, the names o multiple
and social security number must all
owners and one address
be -16-
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i
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
UNIF GIFT MIN ACT - ..........Custodia n..........
(Cust) (Minor)
under Uniform Gifts to Minors
Act....... ..........
(State )
Section 12. Richt to Name Substitute Paying Agent or
Registrar. Issuer reserves the right to name a substitute,
successor Registrar or Paying Agent upon giving 60 days'
written notice to each registered bondholder.
Section 13. Fguality of Lien. The timely Payment of
principal of and interest on the Bonds and Parity Bonds shall
be secured equally and ratably by the revenues of the System
without priority by reason of number or time of sale or
delivery; and the revenues of the System are hereby irrevocably
pledged to the timely payment of both principal and interest as
the same become due.
Section 14. Apnplicatioof Bond Proceeds. Proceeds of the
Bonds other than accrued interest, capitalized interest and
capitalized reserve fund moneys, except as may be provided
below, shall be credited to the Project Fund and expended
therefrom for the costs and 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 such funds shall be repaid to the Project Fund
at the earlf6st 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
or this Resolution. Investment earnings on Project Fund shall
remain in fund to be expended for its purpose. Any amount left
over in the Project Fund shall be transferred to the
Improvement Fund. Accrued interest, if any, and $1,976,245 of
capitalized interest shall be deposited in the Sinking Fund.
Proceeds in sufficient amount shall be paid into and become the
required balance of the Reserve Fund. Proceeds shall be
transferred from the Project Fund at closing to a trust fund to
be held in escrow for the purpose of refunding $1,725,000 of
General Obligation Bonds maturing on June 1, 1987 through 1992,
-17-
which is found and determined to be necessary, appropriate for
the management of the finances of the system and beneficial to
the consumers of the services of the System. The amount so
transferred shall be sufficient, when invested in obligations
Of the United States, to pay all future requirements of
Principal and interest on the refunded
due. The Mayorbonds as the same fall
, Clerk and Treasurer are authorized to execute
a funding trust agreement to that end which may be in a form
consistent with the similar agreement of this City dated
June 25, 1986.
Section 15. User Rates. There has heretofore been
established and published as required b law,
equitable rates or charges for the y Just and
Use
by the System. Said rates or charof the service rendered
of each and every lot, parcel of reeals to be paid or uby
i athe owner
is connected with and uses the System, byaor�through lany part
t
Of the System or that in any way uses or is served by the
System. So long as the Bonds are outstanding and unpaid the
rates or charges to consumers of services of the System shall
be sufficient in each year to maintain net revenues not less
than 1.10 times the amount required for the payment of
principal and interest (except for capitalized interest) on the
Bonds and Parity Bonds as the same fall due, and to provide for
the creation of reserves as hereinafter provided.
In the
the
or
instrumentality tthereof sInrany
way uses roreis�servedybyrthe
System, the rates or charges provided for shall be paid by the
Issuer
instrumentalityrthereof. AnyoTevenueshso@collected bye
orthe
Issuer shall be used and accounted for in the same manner as
any other revenues derived from the operations of the System.
delivery ction any Bond16. liandas coofRevenues.
From and after the
a as anof the
Parity Bonds shall be outstanding and unpaid eithernds as tor
o
Principal or as to interest, or until all of the Bonds and
Parity Bonds then outstanding shall have been discharged and
satisf ied in the manner provided in this Resolution, the entire
income and revenues of the System shall be deposited as
collected in a fund to beknown as the Sewer Revenue Fund (the
"Revenue Fund"), and shall be disbursed only as follows:
(a) O @ration and Maintenance Fund. Money in the
Revenue Fund shall f ret be d sbgrsed to make deposits into
separate d to py current expnses. The
fundahall beknownias the dSeweraOperation ande
eMaintenance
Fund (the "Operation and Maintenance Fund"). There shall
be deposited in the operation and Maintenance Fund each
i
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"^'«.. "th ! Ami... V»r.n.
I
I
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 principal of and interest on the Bonds
and Parity Bonds. The fund shall be known as the Sewer
Revenue Bond and Interest Sinking Fund (the "Sinking
Fund"). The minimum amount to be deposited in the Sinking
Fund in any month shall be an amount equal to 1/6th of the
J installment of interest coming due on the next interest
payment date on the then outstanding Bonds and Parity Bonds
plus 1/12th of 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.
Money 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 at least the lesser of 1) the maximum
amount of principal and interest coming due on the Bonds
and Parity Bonds in any succeeding fiscal year; or 2) j
fifteen percent of the original principal amount of Bonds i
outstanding at any time. Such fund shall be known as the
Sewer Revenue Debt Service Reserve Fund (the "Reserve
Fund"). The Reserve Fund shall be fully funded in the
required amount from proceeds of the Bonds. If it is
necessary to replenish the Reserve Fund, in each month
there shall be deposited in the Reserve Fund an amount
equal to 258 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 minimum required above, no
further deposits need be made into the Reserve Fund except
to maintain said fund at such level. 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.
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(d) Improvement Fund. Money in the Revenue Fund
shall next be disbursed to maintain a fund to be known as
the Sewer Improvement Fund (the "Improvement Fund"), to the
extent of all remaining moneys in the Revenue Fund through
June 30, 1987. Beginning July 1, 1987, the minimum amount
to be deposited in the Improvement Fund each month shall be
$20,000; provided, however, that when the amount of said
deposits in said fund shall equal or exceed $2,000,000, 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 i nterest on the Bonds or I
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 extra-
ordinary 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
Improvement Fund, the payments required above shall be
continued or resumed until it shall have been restored to
the required minimum amount.
(e) Subordinate Obligations. Money in the Revenue
Fund 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 or any of them, or for any lawful
purpose.
Money in the Surplus Account may next be used to pay
principal 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.
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ANe". Caonry, N -1w HIN,. l Ih f Mi.,, Wr., " & a low,
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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.
Moneys on hand in the Project Fund and all of the funds
provided by this Section except the Operation and Maintenance
Fund may be invested only in direct obligations of the United
States Government or deposited in lawful depositories so long
as such deposits are insured by the Federal Deposit Insurance
Corporation or the Federal Savings and Loan Insurance
Corporation and all such deposits exceeding the maximum amount
insured from time to time by FDIC or FSLIC or its equivalent
successor in any one depository shall be continuously secured
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 five 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. Such investments shall at any time necessary be
liquidated and the proceeds thereof applied to the purpose for
which the respective fund was created.
Section 17. Covenants Reoarding 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 Efficienc . That the Issuer will
maintain the System n good cond tion and operate it in an
efficient manner and at reasonable cost.
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WM 17 m , '". Hayne, With A AlM . IA M. D AWMn h J /� O
(b) Rates. That 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
sufficient to produce net revenue for the next succeeding
fiscal year sufficient to meet the requirements of the
several funds as provided in this Resolution. For purposes
of the last clause of the next preceding sentence "net
revenues" shall be those for the next succeeding fiscal
year as determined from the budget for such year as
required herein, and for purposes of such determination the
budgeted total revenues may be increased by the amount, if
any, by which deposits into the Sinking Fund during the
current fiscal year shall have exceeded the requirement of
this Resolution. ,
(c) Insurance. That the Issuer shall maintain L.
insurance for the benefit of the bondholders on the I
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 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 SewerImprovement Fund.
(d) Accounting and Audits. That the Issuer will
cause to be 7kept proper books and accounts adapted to the
System and in accordance with generally accepted accounting
practices, and will cause the books and accounts to be
audited annually not later than 120 days after the end of
each fiscal year by an independent auditor and will file
copies of the audit report with the Original Purchaser and
will make generally available to the holders of any of the
Bonds and Parity Bonds, the balance sheet and the operating
statement of the System as certified by such auditor. The „
Original Purchaser and 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. It is further agreed that if
the Issuer shall fail to provide the audits and reports
required by this subsection, the Original Purchaser or the
holder or holders of 25% of the outstanding Bonds and
Parity Bonds may cause such audits and reports to be
prepared at the expense of the Issuer. The audit reports
required by this Section shall include, but not be limited
to, the following information:
(i) A statement of net revenues and current
expenses;
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AMM, Cd , " t" 1Iry . S Ifi A Altl .. In IM. hkw k--
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(ii) Analyses of each fund and account created
hereunder, including deposits, withdrawals and
beginning and ending balances;
(iii) A balance sheet;
(iv) A schedule of insurance policies and
fidelity bonds in force at the end of the fiscal year,
showing with respect to each policy and bond the
nature of the risks covered, the limits of liability,
the name of the insurer, and the expiration date;
(e) State Laws. That 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. That 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, 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 to be used in preference to other sources for capital
improvements to the System as therein provided, except,
that no such proceeds shall be used to pay principal or
interest on the Bonds and Parity Bonds or payments into the
Sinking or Reserve Funds. Any such payments made into the
Improvement Fund shall be in addition to the regular
monthly payments and the Fund balance provided for in
Section 16(d) of this Resolution.
(g) Fidelity Bond. That 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.
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(h) Additional Charges. That the Issuer will require
proper connecting charges and/or other security for the
payment of service charges.
(i) Budget. That the governing body of the Issuer
will adopt a system budget of revenues and current expenses
on or before the end of each fiscal year. Such budget
shall take into account revenues and current expenses
during the current and last preceding fiscal years. The
Issuer will incur no current expense not included in such
budget, and will not permit total current expenses to
exceed the budget, unless the governing body shall first
have adopted a Resolution declaring the necessity of such
expenses. Copies of such budget and approvals of
expenditures in excess of the budget shall be mailed to the
Original Purchaser and to the bondholders upon request.
Section 18. 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 of
the pledge of the revenues made hereunder, and of all covenants
of the Issuer hereunder.
Section 19. Prior Lien and ParityBonds. 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 or Parity
Bonds outstanding, or making extensions, additions,
improvements or replacements to the System, if all of the
following conditions shall have been met:
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(i) before any such bonds ranking on a parity
are issued, there will have been procured and filed
with the Clerk, a statement of an independent CPA,
consulting engineer or financial consultant, 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
(with 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 then outstanding bonds for both
principal of and interest on all bonds then
outstanding which are payable from the net earnings of
the System and the 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 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
j at or prior to the time of the issuance of any such .! ,
additional bonds been in effect during all of such
preceding fiscal year.
I I
(ii) the additiona 1 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
j immediately preceding fiscal year.
I (iv) at issuance of the additional bonds, �.
` proceeds thereof shall be applied to fully fund the
Reserve Fund with respect to the funding requirement
applicable to the additional bonds but only to the
extent that such immediate funding is, in the opinion
of Bond Counsel, permitted by law and consistent with
the requirements for tax exemption under federal
income tax laws and regulations in effect on the date
of issuance.
Section 20. 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 103(c)(2) of the Internal Revenue Code of the United
States, and that throughout the term of said bonds it will
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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 expected
that the proceeds of the Bonds will be used in a manner that
would cause the Bonds to be arbitrage Bonds. The Treasurer is
hereby directed to deliver a certificate at issuance of the
Bonds to certify as to the reasonable expectation of the Issuer
at that date.
The Issuer covenants that it will treat as restricted yield
investments the funds following:
(a) Any amounts in the Sinking Fund in excess of
13/12ths of the total of annual principal and interest
requirements.
(b) Any amount on hand in the Reserve Fund in excess
of fifteen percent of the original principal amount of the
outstanding bonds and parity bonds.
(c) Any amount on hand in the Improvement Fund to the
extent that it has been held for a period greater than
three years.
"Restricted yield investments" are funds or investments
which the Issuer covenants not to invest at a yield materially
higher than the yield on the bonds as defined in the
regulations issued under authority of Section 103(c) of the
Internal Revenue Code of the United States. 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 classed as arbitrage bonds under Section 103(c) 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
-26-
Ahlery Ca .. Oo"If, 1WNL &NIh 4 mlb,. WryeM1 M A4YIw, Yx. /� 9a
I
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 103(b) of the Internal Revenue Code of the United
States, related statutes and regulations.
Se etion 21. 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 22. Resolutiona 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 interest due thereon, shall have been
satisfied and discharged as provided in this Resolution.
-27-
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Section 23. Modification of Resolution. This Resolution
may be amended from time to time if such amendment 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:
(a) Make any change in the maturity or interest rate
of the 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;
i
(b) Materially affect the rights of the holders of r
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 I'
effect a further amendment.
Whenever the Issuer shall propose to amend this Resolution j
under the provisions of this Section, it shall cause notice of
the proposed amendment to be filed with the Original Purchaser
and to be published one time in a newspaper having general
circulation in the State of Iowa, or a financial newspaper or
journal published in New York, New York. Such notice shall
briefly 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 Clerk. j
i
Whenever at any time within one year from the date of the
publication of said notice there shall be filed with the 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
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Ahlm [miry. Oe J, JU0,, S Ih A Allh .. 1.w An A4Jml Ana /� D
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
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 of a witness to such execution sworn to before
such officer.
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 " 1
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 24. Additional covenants, representations and
warranties of the Issuer with respect to retroactively
effective federal legislation.
In order to maintain the exemption from federal income
taxes of interest on the Bonds and for no other purpose, the
Issuer covenants to comply with the provisions of H.R. 3838,
the tax reform act of 1985 (the "Bill") passed by the U.S.
House of Representatives on December 17, 1985, which has an
effective date of December 31, 1985, provided, however, that
prior to enactment of the Bill, the Issuer reserves the right
to accept the extended effective dates of certain of its
provisions as provided in the Joint Statement of the leaders of
the House Ways and Means Committee, the Senate Finance r
Committee and the Treasury Department, issued March 14, 1986
(including the additions thereto issued July 17, 1986). The
Issuer may treat the Joint Statement as effective to extend the
effective date of the provisions indicated until it is modified
or withdrawn. Until and unless and except to the extent in the
opinion of bond counsel the following are not necessary to
maintain the tax-exempt status of the Bonds, the Issuer makes
the following covenants, representations and warranties with
respect to the Bonds:
1. The Issuer represents that except for use as a member
of the general public, the proceeds of the bonds will not be
-29-
M.M1 CY , D. ., 11'.41A h & Ala.., U' ,., " & p' M b ,
/4910
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I
used directly or indirectly in any trade or business carried on
by any person other than Issuer or used directly or indirectly
to make or finance loans to persons other than governmental
units.
I
2. The Issuer will submit in a timely manner all reports,
accountings and information to the Internal Revenue Service and
will take whatever action is necessary within it's power to
assure the continued tax exemption on the bonds. E
i
3. In the event the federal law applicable to the Bonds j
after the consideration of the Bill imposes requirements 1
different from the provisions of the Bill retroactively
effective to the time the Bonds are issued, the Issuer will
comply with the applicable law and regulations in order to
maintain tax exemption with respect to the Bonds.
I
Section 25. Amendment of Resolution to Maintain Tax
Exemption. Thisresolution may be amended without the consent
of any owner of the Bonds for the sole purpose of taking action
necessary to maintain tax exemption with respect to the Bonds
under applicable federal law or regulations.
Section 26. Severability. If any section, paragraph, or
provision of this Resolution shall be held to be invalid or
unenforceable for any reason, the invalidity or unenforce-
ability of such section,paragraph or provision shall not
affect any of the remaining provisions.
Section 27. Repeal of Conflicting Ordinances or
Resolutions and Effective Date. Al1 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.
9
1986Adopted and approved this 29th day of July ,
Y
Mayor
ATTEST:
�J1C1 ANk
..,.,47
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I
Mlm, [nrxiry, flnmwlet 111N,. Smith A Nl w. lixlen. OeY AYY�Ie4 YM, 1� �O
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CIG -3
4-85
CERTIFICATE
I
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. j
WITNESS my hand and the seal of said Municipality hereto j
affixed this 29th day of .1111y , 1986.
City Clerk, Iowa City, Iowa
SEAL
I
I
fAlm C.n,.. IW ,, Jm.jh b MI .. I ,m Vn hYxn,., Iwi /�9•
7
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a vs P M GG��a�lAl
Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Iowa City, Iowa.
Date of Meeting: July 29, 1986
Time of Meeting: 7:30 p.m.
Place of Meeting: Civic Center, Iowa City, Iowa. I`
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned l
governmental body will meet at the date, time and place above
set out. The tentative agenda f or.said meeting is as follows:
$38,950,000 Sewer Revenue Bonds
- Resolution authorizing the issuance.
Such additional matters as are set forth on the addi-
tional 15 page(s) attached hereto. I
(number)
I
This notice is given at the direction of the
pursuant to Chapter 21, Code of Iowa, and the local rules of
said governmental body.
i
I
L(GLLCU J � �iI A
Vlt]l Clerk, Iowa ty,Iowa
i
T
i
QRIGI�I�L
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Iowa City, Iowa.
Date of Meeting: July 29, 1986
Time of Meeting: 7:30 p.m.
Place of Meeting: Civic Center, 410 E. Washington,
Iowa. Iowa City,
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned
governmental body will meet at the date, time and place above
set out. The tentative agenda for said meeting is as follows:
$38,950,000 Sewer Revenue Bonds.
- Resolution directing sale.
Such additional matters as are set forth on the addi-
tional 15 Page(s) attached hereto.
(number)
This notice is given at the direction of the
pursuant to Chapter 21, Code of Iowa, and the local rules of Mayor
said governmental body.
City Clerk, Iowa City, Iowa
N+n Ca M,, Dolt ""y Sm ♦ Nl ft Inhe.. De, Md, bw,
I
J` .
as
86-250
The Mayor of the City of Iowa City, Iowa, met in regular session on
the 29th day of J--Auly , 1986, at 7:30 L.M., at the Council
Chambers in the Civic Center, Iowa City, Iowa 52240. The meeting was called to
order by Ambrisco, the Mayor, and on roll call, the following named
Council Members were present:
Ambrisco Baker Courtne D' o
Matters were discussed concerning the issuance of Industrial
Development Revenue Bonds. Whereupon, Councilmen Courtney
introduced and caused to be read in full a resolution entitled: "A Resolution
to Amend Resolution 86-56 which granted preliminary approval for the issuance
by the City in an amount not to exceed :1,000,000 of Industrial Development
Revenue Bonds the proceeds of which will be loaned to Millard Warehouse, Iowa
City, a Nebraska General Partnership, and emended said Resolution 86-56 by
granting Preliminary Approval for the Issuance by the City in an amount not to
exceed $4,500,000 of Industrial Development Revenue Bonds the proceeds of
which will be loaned to Millard Warehouse, Iowa City, a Nebraska General
Partnership, and directing the publication of a notice of intention to issue
$4,500,000 aggregate principal amount of Industrial Development Revenue Bonds
(Millard Warehouse Project), Series A, dated as of September 1, 1986 of the
City of Iowa City, Iowa, and calling a public hearing on the proposal to issue
said Bonds and moved its adoption. Councilman Dickson seconded
the motion. After due consideration of the said resolution by the Board, the
Mayor put the question upon the motion and. the roll being called, the
following named Councilman voted:
Ayes: Courtney, Dickson, Strait, flmbrisco, Baker
Nayes: None.
Absent: McDonald, tuber
Whereupon, the Mayor declared the said Resolution duly adopted and
signed his approval thereto.
On motion and vote, the meeting adjourned.
yor
ATTEST:
City Clark
RESOLUTION NO. 86-250
A RESOLUTION TO AMEND RESOLUTION 86-56. WHICH GRANTED
PRELIMINARY APPROVAL FOR THE ISSUANCE BY THE CITY OF IOWA
CITY, IOWA IN AN AMOUNT NOT TO EXCEED $1,000,000 OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS THE PROCEEDS OF WHICH
WILL BE LOANED TO MILLARD WAREHOUSE, IOWA CITY, A NEBRASKA
GENERAL PARTNERSHIP, AND AMEND SAID RESOLUTION 86-56 BY
GRANTING PRELIMINARY APPROVAL FOR THE ISSUANCE BY THE CITY
IN AN AMOUNT NOT TO EXCEED $4,500,000 OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS THE PROCEEDS OF WHICH WILL BE
LOANED TO MILLARD WAREHOUSE, IOWA CITY, A NEBRASKA GENERAL
PARTNERSHIP, AND DIRECTING THE PUBLICATION OF A NOTICE OF
INTENTION TO ISSUE $4,500,000 AGGREGATE PRINCIPAL AMOUNT OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS. (MILLARD WAREHOUSE
PROJECT, SERIESA, DATED AS OF SEPTEMBER 1, 1986, OF THE
CITY OF IOWA CITY, IOWA, AND CALLING A PUBLIC HEARING ON
THE 'PROPOSAL TO ISSUE SAID BONDS.
WHEREAS, the City of Iowa City, Iowa (hereinafter referred to as the
"City"), is a municipal corporation organized and existing under the laws and
constitution of the State of Iowa, and is authorized an empowered by Chapter 419
of the Code of Iowa (hereinafter referred to as the "Act"), to issue revenue
bonds and loan the proceeds from the sale of said Bonds to one or more parties
for the purpose of acquiring land and constructing a building and other
improvements which shall be suitable for the use of any industry or commercial
enterprise engaged in processing, storing, warehousing or distributing products
of agriculture, which will be located within or near the corporate boundaries of
the City, and is further empowered by the Act to issue revenue bonds and loan
the proceeds from the sale of said bonds to one or more parties for the purpose
of refunding outstanding revenue bonds previously issued by the City for the
purpose of acquiring lend and constructing a building and other improvements
which shall be suitable for the use of any industry or commercial enterprise
engaged in processing, storing, warehousing or distributing products of
agriculture, which will be located within or near the corporate boundaries of
the City(hereinafter referred to as the "Project"); and
WHEREAS, the City is authorized by the Act to issue Industrial
Development Revenue Bonds secured by a mortgage on all or any part of the
Project acquired, constructed, improved or equipped, through the issuance of
such revenue bonds and payable solely out of the revenues derived from the
agreement pursuant to which the proceeds from the sale of said Industrial
Development Revenue Bonds are loaned to the owner of the Project; and
3
/02 9/
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WHEREAS, the City has previously granted preliminary approval pursuant
to Resolution 86-56 for the issuance by the City in an amount not to exceed
$1,000,000 of Industrial Development Revenue Bonds the proceeds of which are to
be loaned to Millard Warehouse, Iowa City, a Nebraska General Partnership; and
WHEREAS, the City has been requested by Millard Warehouse, Iowa City,
a Nebraska General Partnership (the "Company"), to amend Resolution 86-56 and. to
authorize and issue its Industrial Development Revenue Bonds in an amount not to
exceed $4,500,000 pursuant to the provisions of the Act for the purpose of
refunding the outstanding principal and accrued interest of the City of Iowa .
City, Iowa, $1,400,000 Series A, Industrial Development Revenue Bond (Millard
Warehouse Project) dated September 15, 1983, the City of Iowa City, Iowa,
$700,000 Series B Industrial Development Revenue Bond (Millard Warehouse ,
Project) dated December 1, 1983 and the City of Iowa city, Iowa $400,000 Series
C, Industrial Development Revenue Bond (Millard Warehouse Project) dated June
15, 1985 (hereinafter referred to as "Prior Issues") and defray the cost of the
acquisition, construction, improving and equipping of the Project; and
WHEREAS, the City has determined that there is a public need in the
City and its surrounding environs for the Project as proposed by the Company;
and
WHEREAS, the Company has determined that the amount necessary to j
refund the prior issues and defray the cost of acquiring, constructing,
improving and equipping the Project, including necessary expenses incidental
thereto, will require the issuance by the City in an amount not to exceed ;
$4,500,000 aggregate principal amount of its Industrial Development Revenue
Bonds pursuant to the provisions of the Act; and 1 I
WHEREAS, the Bonds, whether one or more, if issued, shall be limited
obligations of the City, and shall not constitute nor give rise to pecuniary
liability of the City or a charge against its general credit or taxing powers,
and the principal of and interest on the Bonds shall be payable solely out of
the revenues derived from the Project to be financed by the Bonds; and
WHEREAS, it is advisable to enter into an Amended Memorandum of
Agreement in form and substance such as Exhibit "A" attached hereto, to document
the interest of the parties thereto; and
WHEREAS, before the Bonds may be issued, it is necessary to conduct a
public hearing on the proposal to issue the Bonds, all as required and provided
by the Act.
4
■
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR OF THE CITY OF IOWA CITY,
IOWA AS FbLLOWS:
Section I. That the said Bonds in a•total amount not to exceed
;4,500,000 shall be issued in one or more series from time to time after the
City has given proper notice thereof and conducted a public hearing on the
proposal to issue said Bonds and when the documents relating thereto have been
submitted to and approved by the attorneys for the City and the Mayor.
Section 2. That issuance of the Bonds shall be pursuant to the Act,
and neither the passage of this Resolution, nor the issuance of said Bonds shall
obligate the City or constitute an indebtedness of the City within the meaning
of any state constitutional provision or statutory limitation, and Shall not
constitute or give rise to any pecuniary liability or charge against the general
credit or taxing powers of the City of Iowa City, Iowa, and said Bonds, when
issued, shall be payable solely from the monies paid by or on behalf of the
Company.
Section 3. The Mayor and City Clerk are hereby authorized and
directed to execute and deliver an Amended Memorandum of Agreement in form and
Substance Such as Exhibit "A" attached hereto in order to document the interest
Of the parties thereto..
Section 4. A public hearing shall be conducted on August 26 ,
1986, at 7:30 P H., before this City Council in the Council Chambers in
the Civic Center, Iowa City, Iowa 52240, on the proposal to issue $4,500,000
aggregate principal amount of the City's Industrial Development Revenue Bonds
(Hillard Warehouse Project), Series A, dated as of September 1, 1986 pursuant to
the provisions of the Act, for the purpose of defraying the cost of acquiring,
constructing, improving and equipping the Project, including necessary expenses
Incidental thereto, and all local residents who appear at said hearing shall be
given an opportunity to express their views for or against the proposal to issue
such Bonds= and at said hearing, or any adjournment thereof, this City Council
shall adopt a resolution determining whether or not to proceed with the issuance
Of said Bonds.
Section 5. The Cierk of the City of Iowa City, Iowa, is hereby
directed to publish one time not less than fifteen (15) days prior to the date
fixed for said hearing, in the Press -Citizen, a legal newspaper published and
having a general circulation within the City, a notice of intention to issue
said Bonds in substantially the form of Exhibit "B" Attached hereto:
T
Section 6. All resolutions and orders or parts thereof in conflict
herewith are, to the extent of such conflict, hereby repealed, and this
resolution shall be in full force and effect immediately upon its adoption.
ADOPTED this 29thday of _July
1986.
Payor
ATTEST;
(SEAL)
6
I
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EXHIBIT "A"
MEMORANDUM OF AGREEMENT
(ANENDED)
THIS MEMORANDUM OF AGREEMENT is between the City of Iowa City, Iowa,
party of the first part (hereinafter referred to as the "City"), and Millard
Warehouse, Iowa City, a Nebraska General Partnership, party of the second part
(hereinafter referred to as the "Company").
1. Preliminary Statement. Among the matters of mutual inducement
which have resulted in the execution of this Agreement are the following:
(a) The City is an incorporated municipality of the State of Iowa,
authorized and empowered by the provisions of Chapter 419 of the Code of Iowa
(the "Act"), to issue Industrial Development Revenue Bonds for the purpose of
defraying all or a portion of the cost of acquiring and improving land,
buildings and equipment suitable for any Projects as defined therein.
(b) In order to add to the welfare and prosperity of the City and of
such inhabitants, the City proposes to loan to the Company funds to finance the
refunding of prior issues, acquisition of land and the construction of a
building and improvements therein and acquisition and installation of certain
equipment, all to be suitable for use as a facility which shall be suitable for
the use of any industry or commercial enterprise engaged in processing, storing,
warehousing or distributing products of agriculture (herein referred to as the
Project").
(c) In view of the rising construction costsof the Project, it is
considered essential that acquisition and construction related to the Project
commence at the earliest practicable date, and that orders be placed for
acquiring the necessary improvements and equipment. At the same time, in view
of the possibility of financing facilities similar to the Project in other
states and communities under conditions beneficial to the Company and the
difficulty of obtaining other financing for the Project, the Company desires
satisfactory assurances from the City that the proceeds from the sale of the
City's Industrial Development Revenue Bonds will be made available in an amount
sufficient to finance all or a portion of the cost of the Project, which cost,
including the expenses related to the issuance of the Bonds, is presently
estimated not to exceed $4,500,000.
(d) Representatives of the City have indicated the willingness of the
City to proceed with and effect such financing as an inducement to the Company
to locate the Project within or near the City and the City has advised the
Company that, subject to due compliance with all requirements of law and the
obtaining of all necessary consents and approvals and to the happening of all
acts, conditions and things required to exist, happen and be performed precedent
to and in connection with such financing in due time, form and manner as
required by law, the City, by virtue of such statutory authority as may now
exist or may hereafter be conferred, will issue and sell its Bonds in an amount
sufficient to finance all or a portion of the cost of the Project.
/079/
-7
(e) The City considers that the undertaking of the Project will
provide and maintain employment opportunities for the inhabitants of the City,
enhance the tax base of the City and overlapping taxing jurisdictions, increase
the City's commerce and add to the welfare and prosperity of the City and that
of its inhabitants.
2. Undertakings on the Part of the City. The City agrees as
follows:
(a) That it will authorize, or cause to be authorized, the issuance
and sale of an issue of its Bonds, pursuant to the terms of the Act as then in
force, in an aggregate principal amount sufficient to finance all or a portion
of the cost of the Project.
(b) That it will cooperate .with Company to sell the Bonds upon
mutually agreeable terms, and it will adopt, or cause to be adopted, such.
proceedings and authorize the execution of such documents as may be necessary or
advisable for the authorization, issuance and sale of the Bonds and the
financing of the Project as aforesaid, and the entering into a Loan Agreement
with the Company with respect to the Project, all as shall be authorized by law
and mutually satisfactory to the City and the Company.
(c) That the aggregate basic payments (i.e. the payments to be used
to pay the principal of, the premium, if any, and interest on the Bonds) payable
under the Loan Agreement shall be such sums as shall be sufficient to pay the
principal of and interest and redemption premium, if any, on the Bonds as and
when the same shall become due and payable.
(d) That it will take or cause to be taken such other acts and adopt
such further proceedings as may be required to implement the aforesaid
undertakings or as it may deem appropriate in pursuance thereof.
3. Undertakings on the Part of the Company. The Company agrees as
follows:
(a) That it will cooperate with the City to sell the Bonds in an
aggregate principal amount as above stated; provided, however, that the terms of
the Bonds and of the sale and delivery thereof shall be mutually satisfactory to
the City and the Company.
(b) That it has not, prior to the execution of this Amended Agreement
and subsequent to the taking of "official action" pursuant to Resolution 86-56
toward the issuance of the bonds by the City, acquired or commenced improvement
of the Project, or any part thereof, and has not entered into any contracts, or
paid or incurred any costs related thereto, which will be paid or reimburse from
the proceeds of the Bonds, when and if issued in an amount in excess of
$1,000,000 in which it will pay or incur costs in excess of $1,000,000 for which
prior "Official Action" was approved. The Company does, however, represent that
it now intends to enter into a contract or contracts for the refunding of Prior
Issues, the acquisition and improvement of the Project and take, with reasonable
diligence the other necessary steps toward the realization of the Project.
8
/R 9/
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M
(c) That contemporaneously with the sale of the Bonds the Company
will execute a Loan Agreement with the City under the terms of which the Company
will obligate itself to pay to the City sums sufficient in the aggregate to pay
the principal of and interest and redemption premium, if any, on the bonds as
and when the same shall become due and payable, such instrument to contain other
provisions required by law and such other provisions as shall be mutually
i acceptable to the City and the Company.
(d) That it will take such further action and adopt such further
proceedings as may be required to implement its aforesaid undertakings or as it
may deem appropriate in pursuance thereof.
4. General Provisions.
1
(a) All commitments of the City under paragraph 2 hereof and of the
Company under paragraph 3 hereof are subject to the condition that on or before
September 1, 1988 (or such other date as shall be mutually satisfactory to the
City and the Company), the City and the Company shall have agreed to mutually
acceptable terms for the Bonds and of the sale and delivery thereof, and
mutually acceptable terms and conditions of the documents referred to in
paragraph 3 and the proceedings referred to in paragraphs 2 and 3 hereof.
(b) Whether or not the events set forth in (a) of this paragraph take
place with in the time set forth or any extension thereof, the Company agrees
that it will reimburse the City for all reasonable and necessary direct
out—of—pocket expenses which the City may incur, including but not limited to,
legal fees, printing and publication costs and filing fees arising from the
execution of this Agreement and the performance, or preparation to perform by
the City of its obligations hereunder, or done at the request of the Company.
(c) All commitments of the City hereof are further subject to the
conditions that the City, and its elected and appointed officials, shall in no
event incur any liability for any act or omission hereunder, and that the Bonds
described herein shall not constitute an indebtedness of the City within the
meaning of any constitutional or statutory provision and shall not constitute
nor give rise to pecuniary liability of the City or a charge against its
general creditor taxing powers.
(d) It is expressly understood by the Company and the City that the
City's adoption of the Resolution is intended both as an expression of the
City's current intention to proceed with the issuance of the Bonds and to
constitute "some other similar official action" for the purposes of Treasury
Regulations promulgated under Section 103 of the Internal Revenue Code of 1954,
as amended. The adoption of this Resolution by the City is not intended to, nor
does it, create a binding commitment on the City to proceed with the issuance of
the Bonds. It is further understood that the issuance of the Bonds is subject
to further review by legal counsel to the City and is conditioned upon, among
other things, full compliance with all procedures of the Procedure for
Industrial Revenue Bond Issue of the City of Iowa City, Iowa.
/R 9/
T
IN WITNESS WHEREOF the parties hereto have entered into this Agreement
by these officers thereunto duly authorized as of the 42 day of
1986. ,
I
/UTX O� TOWACI WA
Y.
yor
BY:
10
-MILLARD EHOUSK IOWA CITY,
a Nebrd a Cen Partnership
n
Larsen,
I
EXHIBIT "B"
NOTICE OF INTENTION TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE
BONDS (MILLARD WAREHOUSE PROJECT)
Notice is hereby given that aub
conducted before the City Council of lic hearing will be
Iowa, at the Council Chambers in the he City of Iowa City,
City, Iowa 52240, at 7:30 p.m. on Civic Center, Iowa
1986, on the proposal to issue 00100 26. '
principal amount of the City's Industrial
000 aggregate
Revenue Bonds (Millard Warehouse Project), trial Development
as of September 1, 1986 j ct), Series A, dated
Chapter 419 of the Code of Mowat fo the provisions of
refunding the principal and accrued interestthe purpose of
Iowa City, Iowa, $1,400,000 Series A Industrial
on the City of
Revenue Bond (Millard Warehouse Project) dated Development
15, 1983, the City of Iowa Cit Iowa, dated September
Industrial Development Revenue Bond $700,000 Serie: B
Project) dated December 1, 1983 and the City ofillard WIowaouse
City,
Iowa $400,000 Series C, Industrial Development Revenue Bond
(Millard Warehouse Project) dated June 15, 1985
(hereinafter referred to as "Prior Issues") and defraying
the cost of acquiring, constructing, improving, and
equipping land and a building and other improvements which
shall be suitable for the use of any industry or commercial
enterprise engaged in processing, storing, warehousing or
distributing products of agriculture (the "Project"),
(including necessary expenses incidental thereto). The
Project consists of 49,152 square feet cold storage
facility to be located at 2710 Highway 6 East, Iowa City,
Iowa. The proceed: from the sale of such Bonds will be
loaned to Millard Warehouse, Iowa Cit
Partnership, as the owner and operator of Nebraska
Partnership,
pursuant to a Loan Agreement which will provide loan
payments sufficient to pay the principal of and interest
t�
and premium,
Bonds shall never [constitute the
inds
Indebtedness
ss
The
} of said City within the meaning of any state constitutional
provision or statutory limitation, and shall not constitute
nor give rise to a pecuniary liability of said City or a
charge against its general credit or taxing powers.
All local residents who appear at Said hearing shall be
given an opportunity to express their views for or against
the proposal to issue said Bonds, and at said hearing, or
any adjournment thereof, the City Council of said City
shall adopt a resolution determining whether or not to
( proceed with the issuance of said Bonds.
orderBY
CITYCLERK, CITYCOFYIOWAnCITY, IOWA
11
� IARKS, CLARE,
HOPKINS. RAUTH, CUDDIGAN,
OFFNER & WATSON
ATTORNEYS AT LAW
)LrLa!:. c.,;,,
i1aNAAl SINEl7 su,mgm
a•uLAn r.. ^: t•:<. i•,.
OMAHA. NEBRASKA &4102
)T-VCN L my ALL
LT.VtNELEma)NI:
Al.N. A'LtIN
p}I:La�pLb
IIANIAMVp'I:INL '.:qAc ;V VS
t 14AY R LA WALL
:vA4 T :I'AIIEN'u
Ni::FANpS U:41L: c:
ly'L•e :. i'CVt A.
MILLARD WAREHOUSE, IOWA CITY
A NEBRASKA GENERAL PARTNERSHIP
PROJECT DESCRIPTION
The nded
cit7, NebreekeeGenerelaPartnezehSeeolution which Millard Warehouse, Iona
�,
City Council to consider expands the original Preliminary
esting the mResalutionembers of tee Iona
by the Council in March of 1986 in two mayor respects.
PprOveda
approval In the first instance the original Preliminary Resolution
pp oval for the construction of a
construction et the Millard Warehouse 24,000 square feet provided
completed to date and to now Operations house location. This construction as been
new
wouldl. The Amended Preliminary Resolution
petmit Millard Werehouss tO refund the existing Series A, Series B and
Series C Bond Issues in the approximate amount of 2.1 million. B
the Prior Bond Issues Millard Warehouse will be able to obtain n refunding
favorable interest rete than what it is currently receiving on the existing
Bond Issues. more
This !nearest savings & will assist Millard Warehouse in financing
its continued expansion at the Iona City plant.
The second major difference between the Amended Preliminary
Resolution and the previously approved Resolution is that the Amended
Preliminary Resolution will provide Millard Warehousewith the ability to
finance and construct an additional 24,000 square foot addition et t
City location beyond that which was initially contemplated In the original
ow
Preliminary Approval.
maY 1 will be glad to address any and all questions that Council Members
cifics of
Purpose providing gf reacquisitiothe
ead refunding
uctionPurpose
an the
well
as
facility
Purpose of
at the 'Ova City plant.
Respee fully euhm tted,
Lynn T. ulherin
1em12/27 Attorney for Millard Warehouse
W
Governmental Body:
Date of Meeting:
Time of Meeting:
Place of Meeting:
(This Notice is to be. Posted)
NOTICE AND CALL OF COUNCIL MEETING
The City Council of Iowa City,
Iowa.
July 29, , 1986
7:30 P.M.
Council Chambers
Civic Center
Iowa City, Iowa
y:•� r� s•,8(a� �I
PUBLIC NOTICE IS HEREBY GIVEN that the above-mentioned governmental
body will meet at the date, time and place above set out. The tentative
agenda for said meeting is as follows:
1. A Resolution to amend Resolution 86-56 which granted
preliminary approval for the issuance by the City in an amount not
to exceed $1,000,000 of Industrial Development Revenue Bonds the
proceeds of which will be loaned to Millard Warehouse, Iowa City, a
Nebraska General Partnership, and amend said Resolution 86-56 by
granting preliminary approval for the issuance by the City in an
amount not to exceed $4,500,000 of Industrial Development Revenue
Bonds the proceeds of which will be loaned to Millard Warehouse,
Iowa City, a Nebraska General Partnership, directing the publication
of a notice ofintention to issue $4,500,000 aggregate principal
amount of Industrial Development Revenue Bonds (Millard Warehouse
Project), Series A, dated as of Sept. 1, 1986, of the City of Iowa
City, Iove, and calling a publie hearing on the proposal to issue
said Bonds.
2. Such additional matters as are set forth on the additional
is page(s) attached hereto (attach copy of agenda).
This notice is given at the direction of the Mayor, pursuant to
Chapter 28A, Iowa Code, as amended, and the local rules of said governmental
body.
(amended notice)
(mwiac)
Clerk of the City of Iowa City, Iowa
`Ad
1
:
I
RESOLUTION NO. 86-251
RESOLUTION APPROVING THE APPOINTMENT OF DEPUTY CONTROLLER
WHEREAS, the City of Iowa City, Iowa, is authorized to issue municipal bonds,
and
WHEREAS, the City Controller has been appointed Registrar/Paying Agent of the
Bonds and as such is authorized to authenticate each bond certificate by
his/her manual signature, and
WHEREAS, in the absence of the City Controller or upon the issuance of a !
large bond issue, it is deemed necessary to have bond certificates signed by
an individual other than the City Controller.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA, that the Controller may appoint any of the following as Deputy Control-
ler who are then authorized to sign the bond certificate as Bond Registrar: j
1. Assistant Finance Director i
2. City Treasurer
3. Director of Finance
4. Purchasing Agent
It was moved by Dickson and seconded by Courtney
the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
x Ambrisco i
x Baker
y Courtney
x Dickson I j
McDonald
1L_ Strait
Zuber
Passed and approved this 29th day of July 1986.
& ! I
i
MAYOR
ATTEST: ��„a,,��j
CITY CLERK
d App v
� nt
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RESOLUTION NO. 86-252
RESOLUTION AUTHORIZING MAYOR TO EXECUTE AND THE CITY CLERK TO ATTEST
THE LEASE/PURCHASE AGREEMENT BETWEEN THE CITY OF IOWA CITY AND THE
NEW ENGLAND MERCHANTS FUNDING CORPORATION FOR COMPUTER EQUIPMENT AT
THE IOWA CITY PUBLIC LIBRARY.
WHEREAS, the City of Iowa City and New England Merchants Funding Corporation
have negotiated the attached lease/purchase agreement for CLSI computer
equipment at the Iowa City Public Library, and
WHEREAS, the City of Iowa City is empowered under 9364.4 and 9384.4(3), Code
of Iowa, to enter into such lease/purchase agreements, and
WHEREAS, the term of said lease/purchase agreement is five (5) years and
funds for the monthly rental payments ($2,986.58) have already been appropri-
ated through Fiscal Year 1987, and
WHEREAS, upon making the final rental payment at the end of the term of said
lease/purchase agreement, the City will obtain title to said computer equip-
ment, and
WHEREAS, on July 1, 1986, a public hearing on said proposed lease/purchase
agreement was held before the City Council pursuant to 9364.4(d) and 9384.25,
Code of Iowa.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA:
That the Mayor is hereby authorized and directed to execute and the City
Clerk to attest said lease/purchase agreement and any addenda, schedules, UCC
financing statements or other instruments issued under the provisions of said
agreement.
It was moved by Strait and seconded by Dickson
the Resolution be adopted, an upon roll call there were:
AYES: NAYS: ABSENT:
Ambrisco
X_ Baker
X_ Courtney
_X Dickson
—7— McDonald
X_ Strait
Zuber
Passed and approved this 29th day of hely 1986.
ATTEST: A?iftye _-I. -I-, -,
omvui 11 ApPMW
y odDW �
24 B6
Agfa
-I
MASTER EQUIPMENT LEASE/PURCHASE AGREEMENT
Equipment Lease/Purchase Agreement dated as of
and entered into between �nvla d M _ARril 30,19 g¢,
('Lessor'), a Maaearhe.• o—C t e
Place of business at SD_Mii� CO PpocetI n wind its�l
k_set s t , and City of
Ieva itv for the soya Ci v Pg1.1!c Lf hrary
corporate and politic exietln9 under the 1, weLofsahe)Statbodye of Ioya,
W 1 T N E S S E T H :
WHEREAS, Lessor desires to lease the Equipment, As hereinafter
defined, to Lessee and Lessee desires to lease the Equipment from
Lessor, subject to the terms and conditions of, end for the purposes
set forth in this Lease; and
WHEREAS, Lessee is authorized under the Constitution and laws of
the State of IQU to enter into this Equipment Lease/Purchase
Agreement for the purposes set forth herein; as more particualarly set
forth in 364.4 of the Code of Iowa.
NOW, THEREFORE, for and In consideration of the premises
hereinafter contained, the parties hereby agree as follows:
ARTICLE I
COVENANTS OF LESSEE
Lessee represents, covenants and warrants to Lessor, the Lender,
the Participating Ownera (as hereinafter defined) as follows:
(e) Lessee is a public body corporate and politic duly
organizeLad and existing under the Constitution and laws of the
Stake of
of a (b) Lessee quallf lea as a State or a political subdivision
oStars feUnited
f theCode,andforPurposes Statesf
fstafor terand local Sincome taxation
and the interest
Federal income taxationwun erill bethtr
eeate0 as
Provisions of Section 103 of the Code, and (ii) state and local
income taxation.
(c) Lessee W111 do or cause to be done all things necessary
to preserve and keep in full
for"body corporate and politic. and effect its existence as a
(d) Lessee 1s authorized undere364.4 and x384,4(3) of the
Code of Iowa to enter into this Lease and the transaction
contemplated hereby and to perform all of its obligation.
hereunder.
0) Lessee has been
this Lease under the ed hedato authorized to execute and deliver
governing body r attached hereto provisionseof the
oe resolution of its
appropriate bidding
ngofficial approval; Lessee has complied with such
other
thelacqul itionrbyLeeeeetofas may pp,
icable
this Lease and
Lease is duly executethis
d and the
a legal, valid and binding
document enforceable in accordance with its terms.
(f) The Equipment will be used by Leeeee only for the
Proprietaryof pfunctionerforming s ofeLessee consior more stent; with le
ecepe of Lessee's authority. hePermissible
L/MUNIC/LSO (MSTR/CAN/LSE/REV 0583F)
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47
1
(9) During the period this Lease is in force, Lessee will
annually provide Lessor with current financial statements,
budgets, proof of appropriation for the ensuing fiscal year and
such other financial information relating to the ability of the
Lessee to continue this Lease as may be requested by the Lessor.
(h) Lessee reasonably believes that funds are available or
can be obtained sufficient to pay all Rental Payments and other
sums hereunder during the period this Lease is in force.
(i) Lessee will do all things lawfully within its power to
obtain and maintain funds from which Rental Payments and other
sums may be paid, including making provision for such Rental
Payments and other sums to the extent necessary in each budget
Submitted for the purpose of obtaining funding, using its bona
fide efforts to have such portion of the budget approved, and
exhausting all available reviews and appeals in the event such
portion o! the budget in not approved.
(i) Lessee's Fiscal Period begins on July I. and
ends on _ jun, 30sufficient funds have been
eppropriatsd to pay Rental Payments and any other sums due
hereunder through Lessee'a Fiscal Period ending on June 30
19117.
ARTICLE II
DEFINITION
The following terms will have the meanings indicated below unless
the contest clearly requires otherwise:
'Acceptance Certificate• means an Acceptance Certificate in
substantially the form attached hereto as Exhibit I, which when
executed by Lessee and delivered to Lessor shall constitute Lessee's
unconditional acceptance of the Equipment described therein for lease
hereunder.
'Acquisition Costo means the total cost of the Equipment including
all tares, transportation and installation costs, and with respect to
any Item of Equipment means the total cost of such Item including the
prorata share of all taxes, transportation and installation costs
relating to such Stem.
'Code' means the Federal Internal Revenue Code of 1954, as
amended.
'Coemancement Date' with respect to each Item of Equipment means
the date when the Term of any Item of Equipment lolled hereunder
begins and Lsasee's obligation to pay rent accrues, which data shall
be the date 012 which the Equipment is accepted by Lessee as indicated
on the Acceptance Certificate.
'Equipment• means the property described in Schedule A attached
hereto and made a part hereof.
'Fiscal Period' means the term for which funds are periodically
budgeted of approptiated to the Leases, and during which Lessee may
unconditional ly dispose of such funds in accordance with its budget.
'Item• means s single unit of Equipment.
•Lease• means this Master Equipment Lease/Purchase Agreement,
including the schedules and exhibits attached hereto.
'Lender• means any assignee to whom Lessor (including any
asslgnes(s) of Lessor and any subassignee(s) of such meeignee(e)) has
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sssigned, in whole or in part, its (their) rights in, to and under
this Lease and in the Equipment As collateral for a loan or loans made
by such Lender.
'Lessee" means the entity which is described in the first
paragraph of this Lease as Lessee, and which is leasing the Equipment
from Lessor under the provisions of this Lease.
'Lessor' means (i) the entity which is described in the first
paragraph of this Lease as Lessor, and (ii) any assignee(s) of Lessor
(and any subassignes(s) of such assignee(s)) to whom Lessor (or such
assignee(s)) has assigned in whole oc in pact its (their) eights,
title or interests in, to and under this Lease end/or the Equipment or
any Acceptance certificate.
-participating owners' means, collectively, one or more persons as
designated by Lessor to whom Lessor had assigned the right to receive
all or a portion of the Rental Payments and other payments to be made
by Lessee, together with the related rights and remedies provided
Lessor in this Lease.
-Rental Payments- with respect to Items of Equipment means the
rental payments set forth in Schedule A to each Acceptance Certificate
executed with respect to such Items of Equipment.
'Term' for each Item of Equipment means the period specified in
Section 4.01 hereof
'Vendor" means the manufacturer or supplier of the Equipment as
well as the agents or dealers of the manufacturer or supplier from
whom Lessor purchased or is purchasing the Equipment.
ARTICLE III
LEASE OF EQUIP„ERT
Lessor shall demise, lease and let to Lessee, and Lessee shall
rent, lease and hire from Lessor, the Equipment in accordance with the
provisions of this Lease. Leaaor shall however have no obligation to
laau any Item of Equipment to Losses hereunder until all of the
following conditions precedent have occurred!
Receipt by Lessor of an Acceptance Certificate with respect
to such Item duly executed by Lessee;
Receipt by Lessor of duly authorized and executed resolution,
evidencing Lessee's power to enter into, execute, deliver and perform
the Leese, and the authority of the signatories of the Leese to
legally bind the Leasee)
Receipt by Lessor of a certificate of incumbency certified by
an officer of the Lessee;
Receipt by Lessor of an opinion of counsel substantially in
the form of Schedule C;
Receipt by Lessor of evidence of the insurance coverage
provided for in Section 8.011
Receipt by Lessor of invoices, bills of sale or other
sufficient evidence that title, free and clear of all Liens, to the
Items of Equipment to be leased to the Lessee resides in the Lessor.
Lessor shall also have no obligation to lease any Item of
Equipment to Lasses hereunder if any of the following conditions
occur$
M Event of Default under Article XIII hes occurred and is
continuing;
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T
A materially' adverse change in Lessee's financial condition
has occurred subsequent to June 30 19fl,6;
The date of Lessee's acceptance of such Item of Equipment is
subsequent to July i , 19U; and
TheAcquisition Cost of all Equipment would exceed
$143 00 00.
ARTICLE IV
LEASE TERN
Section 4.01. rQX',1— unneF f Tq_, The Term for each
Item
of Equipment shall be (i) the number of full calendar months set forth
in Schedule A to the Acceptance Certificate executed for such
Equipment opposite the heading 'Number of Rental Payments' in said
Schedule, plus (ii) any partial first month (if the Commencement Date
is other than the first day of a calendar month). The Term for each
Item of Equipment shall commence on the Commencement Date and, except
as otherwise expressly provided herein, shall terminate upon the
expiration of said number of full calendar months.
Section 4.02. Terlpination of Lease I=.
The Term for each Item
events: of Equipment will terminate upon the earliest of any of the following
events:
(a) nonappropriation of funds pursuant to Section 6.05;
(b) the exercise by Leasee of the option to purchase such
Item of Equipment granted under the provisions of Article XI of
this Lease;
(c) the termination of this Lease with respect to any Item
Of Equipment pursuant to the provisions of Section 9,02 hereof,
end the payment of all amount
. required to be paid by Lessee under
said Section 9.02; or
(d) a default by Lessee and Lessor's election to terminate
this Leese with respect to any Items of Equipment under Article
XIII of this Lease.
ARTICLE V
ENJOYMENT AND RETURN or EQUIPMENT
Lessor hereby covenants that it will not interfere with Lessee-.
quiet use and enjoyment of the Equipment during the Lease so long as
Lessee is not in default under this Lease.
Lessor, any Participating Owner, any Lender or their nominees
shall have the right at all reasonable times during business hours to
enter into and upon the property of Lessee for the purpose of
inspecting the Equipment.
If the Lessee at any time is obligated to return any Items of
Equipment hereunder, Lessee will at its expense deliver possession of
such Items to a location specified in writing by the Lessor, and
within the Continental United State.. The Items of Equipment when
delivered, shell be in good operating conditionand in as good a
repair as when originally delivered to Lessee, aubject to normal wear
and tear.
ARTICLE VI
RENTAL PAYMENTS: NON APPROPRIATION: INDEMNIFICATION
Section 6.01. HelliaL vevm_ a ter tit to r r
Lessee. Lessor end Lessee understand end intend that the obligation
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of Lessee to pay Rental Payments hereunder shall constitute a current
expense of Lessee and is not in contravention of any applicable
constitutional or statutory limitation or requirements concerning the
creation of indebtedness by Lessee, nor shall anything contained
herein constitute a pledge of the general tax revenues, funds or
monies of Lessee.
section 6.02. PAWCUt of Rental Pa s. Lessee shall pay
Rental Payments for all Items of Equipment accepted hereunder
exclusively from legally available funds, in lawful money of the
United States of America to Lessor or to any designee(s) or nominee(s)
of Lessor, during the Term of such Items.
The Rental Payment payable by Lessee with respect to Items of
Equipment listed on an Acceptance Certificate executed hereunder shall
be the amount in the 'Total Rental Payment' column set forth opposite
the Rental Payment number in Schedule A of such Acceptance
Certificate. The date on which the fi ret Rental Payment with respect
to each Item of Equipment shall be due is the first day of the first
full calendar month nest fallowing the Commencement Date, or the
Commencement Date if the Commencement Date is the first day of a
calender month. Rental Payments subsequent to the first Rental
me
Paynt shall be due at the time indicated in Schedule A of the
applicable Acceptance Certificate. In the event that the Commencement
Date is other than the first day of a calendar month Lessee shall, on
the date on which the first Rental Payment is due, in addition to
paying Lessor the Rental Payment due thereon, also pay Lessor an
interim Rental Payment in an amount determined by (i) dividing the
first Rental Payment (as specified on said Schedule A) by thirty (30)
and (it) multiplying the quotient determined in (i) above by the
number of days remaining in such partial first month from and
inclusive of the Commencement Date.
Section 6.03. I t re et Comoonant - A portion of each Rental
Payment is paid es, end represents payment of interest, and the
interest component of each Rental Payment during the Term is es
specified on schedule A of the applicable Acceptance Certificate. The
total interim Rental Payment is paid as and represents payment of
interest.
Section 6.O4. Rental Payments to he Unconditional. The
obligations of Lessee to make payment of the Rental Payments required
under this Article VI and other sections hereof and to perform and
observe the other covenants and agreements contained herein shall be
absolute and unconditional in all events except as expressly provided
under this Lease. Notwithstanding any dispute between Lessee and
Lessor, any Participating ner or their assignee, any Vendor, any
s ,
LendoOw
r any other entity, Leasee shall make all payments of Rental
Payments when due to the party to whom the same is payable, and shell
not withhold any Rental Payments (or any portion thereof) pending
final resolution of such dispute nor shall Lessee asaert any right of
set-off or counterclaim against Its obligation to make such payments
required under this Lease. Lessee's obligation to make Rental
Payments shall not be abated through accident or unforeseen
circumstances.
Section 6.05. N aonroorietinn. In the event that funds are not
appropriated for any Fiscal Period during the Term of any Item of
Equipment leaned hereunder, in an amount equal to the total Rental
Payments due under every Acceptance Certificate and payable by Lessee
during such Fiscal Period, Lasses may terminate this Lease effective
on the first day of ouch Fiscal Period upon providing thirty (30) day
h
prior written notice to Lessor, and each of the Participating Owners,
or their assignee, provided, however, that It aa 11 be a condition
precedent to Lessee's said right of termination that all of the
following events listed as (a) through (f) @hall have occurredt
(a) the aforesaid written notice was given by Lessee within
thirty (30) days of the adoption of the final budget for such
fiscal Period)
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(b) Lessee has exhausted all funds legally available from other
sources for the payment of all Rental Payments due under this
Lease;
(c) Lessee properly and in a timely manner requested sufficient
funds to Satisfy the obligations due in the Fiscal Period for
which funds were not appropriated, and Lessee dilligently pursued
and exercised best efforts to obtain such funds from the governing
body which controls such appropriations;
(d) Lessee has paid all Rental Payments (and all other payments)
due for all Fiscal Periods preceding the Fiscal Period for which
sufficient funds were not appropriated;
(e) Funds have not been budgeted or appropriated to Lessee, to
purchase, lease, or otherwise acquire equipment or services
performing functions similar to that of the Equipment; and
(f) Lessor has received a certificate sworn by an officer of
Lessee verifying the occurrence of the events listed in the
preceding clauses (b) through (e).
Upon occurrence of such nonappropriaticn, and the satisfaction of
all of the aforesaid conditions. precedent to Lessee's right of
termination, including notice of termination, Lessee shall not be
obligated to make payment of any Rental Payments for any Fiscal Period
for which funds have not been so appropriated and Lessee shall return
the Equipment to Lessor in accordance with Article V. If Lessee
terminates this Lease due to nonapproprintion, Lessee shall not
replace the Equipment with Equipment that performs the same or similar
functions unless such equipment has been donated by gift to Lessee,
nor shall Lessee acquire by another contract the service or function
for which the Equipment was being used during the remainder of the
Fiscal Period for which funds have not been appropriated and the next
succeeding $is month period.
Lessee agrees that It will only exercise its rights under this
Section with respect to all and not part of the Equipment.
Section 6.06. Ieaemn�i �. Lessee shall indemnify, protect,
hold harmless, save and keep harmless Lessor, each Participating
Owner, each Lander, and their respective successors and assigns, from
and against any and All Siabilities, obligations, looses, claims and
damageswhatsoever, regardless of the cause thereof, and expenses in
connection therewith, including, without limitation, counsel fees and
expenses, penalties and interest arising out of or as the result of:
the entering Into of this Lease; the ownership of any item of the
Equipment; the ordering, acquisition, use, operation, condition,
purchase, delivery, acceptance, rejection, storage, sale, disposition
or return of any item of the Equipment; claims based on breach of any
Purchase Agreement for the Equipment; claims based upon strict
liability in tort; and any claims based upon patent, trademark or
copyright infringement. The indemnification arising under this
paragraph shall continue in full force and effect notwlthstandinq the
toll Daymsnt of All obligations under this Lease or the termination of
the Term of any Item of Equipment.
6.07 Bo•ci ■I T•: r de ni[y. If lessee by an act or omission
causes all ore part of the interest component of any rental payment
to be tazable for Federal, state or local income tax purposes, Lessor
At its option shall have the right to adjust succeeding rental
payments to in amount that shall preserve Lessor's 0riginsl yield at
Lessor's corporate income tax rate of 461, or at such lower tax rate
as may become applicable to Lessor due to changes in tax law.
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ARTICLE VIZ
TITLE TO EQUIPMENT; PERSONAL PROPERTY;
SECURITY INTEREST; LANDLORD AND MORTGAGEE WAIVER
Section 7.01. Title to the Eguigment. During the Term of each
Item of Equipment, title to such Item and any and all additions,
repairs, replacements or modifications will be retained by Lessor, and
upon termination of the Term for any of the reasons specified in
Section 4.02(6) or (c) hereof, such title will be conveyed by Lessor
to Lessee. In the event of default as set forth in Section 13.02
hereof or nonappropriation as set forth in Section 6.05 hereof, Lessee
will surrender possession of the Equipment to Lessor per Article V.
Section 7.02. Personal Prooerty. It is the intent of Lessor and
Lessee that the Equipment is, and shall at all times be and remain,
personal property notwithstanding that the Equipment or any part
thereof may be, or may hereafter become, in any manner affixed or
attached to real property.
Section 7.03. Security interest. To secure the payment of the
Rental Payments and all of Lessee's other obligations under this
Lease, Lessee grants to Lessor a security interest in the Equipment
and in all additions, attachments, accession, and substitutions to or •--.
for the Equipment that would adversely impact the collateral value of
the Equipment and in any proceeds of the Equipment. Lessee agrees to
execute such additional documents, including financing statements,
affidavits, notices and similar instruments, in form satisfactory to
Lessor, which Lessor or•Assignes deems necessary or appropriate to
establish and maintain its security interest.
Section 7.04. Landlord and Mortgagee waivers, Upon request of
Lessor, Lessee shall obtain, as to any place where the Equipment is
located, a waiver from the landlord and/or mortgagee thereof with
respect to any rights they may have under local law to levy or
distrain or claim an interest in the Equipment.
ARTICLE VIII
MAINTENANCE; MODIFICATION; TAXES;
INSURANCE AND OTHER CHARGES
Section 8.01. Maintenance of Eouigment by e• . Lessee will,
At Leeaee's own cost and expense,.maintain, preserve and keep the
Equipment or cause the Equipment to be maintained, preserved and kept
with the appurtenances and every part and parcel thereof, in good
repair, working order and condition, and that Leasee w111 from time to
time make or cause to be made ell necessary and proper repairs,
replacements and renewals. Lessor shall have no responsibility in any
of these matters or for the making of improvements or additions to the
Equipment. If requested by Lessor, Lessee will enter Into a
maintenance contract for the Equipment with the Vandor.
Section 8.02. Modification or Alteration of routoment. Lessee
shall have the privilege at its own cost and expense of making
substitutions, additions, modifications and Improvements to the
Equipment, and the Name shall be the property of Lessor and be
Included under the terms of this Lease as part of the Equipment,
provided, however thatt
(a) such remodeling,substitutions, additions, modifications
and improvements shall not in any way damage the Equipment nor
cause it to be used for purposes other then those authorized under
the constitutional provisions and laws applicable to Lessee; and
(b) the Equipment, as improved (or altered upon completion
of remodeling, substitutions, additions, modifications made)
pursuant to this Article VIII shall be of a value not less than
the value of the Equipment immediately prior to the remodeling or
the making of such substitutions, additions., modifications and
Improvements.
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Lessee will not permit any mechanic's o: other lien to be
established or :e -a: n against the Equipment fox :+tor or materials
furnished in co improvemrntsh any remeling, repairso, drenewalsuor additions, x
modifications, replacements made
by Lessee.
Section e.pa Othe ase
f 1 Ch e� nd utili tY
Ch_ erase. Gover
The parties to thin Lease contemplate that the Equipment
will be used for a governmental or proprietary purpose of Lessee, and
that the Equipment will be exempt from all taxes presently assessed
and levied with respect to personal property. In the event the use,
possession or acquisition of any Item of Equipment is found to be
subject to taxation in any form, Lessee will pay during the Term of
such Item as the same respectively become due, all taxes, fees,
assessments and charges of any kind whatsoever that may at any time be
assessed wits respect to, levied against or imposed upon such Items of
Equipment (and/or any equipment or other property acquired by Lessee
I, subatttution for, as a renewal or improvement or additions tollacement �r
as a
modification, such Itemsaswell as all
gas, water, steam, electricity, heat, paws[, telephone, utility and
other charges incurred in the operation, maintenance, use, occupancy
and upkeep of such Items) by any Federal, state or local government or
taxing authority. In the event of the levying, assessment or
imposition of any such taxes, fees or charges on or with respect to
the Equipment, Lessee shall promptly notify Lessor Of the same and
shall provide proof of, payment or a sustained protest.
Section 8.04. p isi Ae rdinm inauranee. At its own expense
Lessee shall cause casualty, public liability and property damage
insurance to be carried and maintained, or shall demonstrate to the
satisfaction ofLessor that adequate self-insurance is provided, with
respect to the Equipment. Laesor, the Participating Owners and any
Lander shall be named as loss payees, as their respective interests
may appear, with respect to all casualty insurance, and as additional
insureds, with respect to public liability and property damage
insurance. At closing, Lessee shall furnish to Lessor certificates of
'evidencing such coverage. Alternatively, Lessee may issues the
Equipment under a blanket insurance policy or policies which cover not
only the Equipment but other properties. If Lessee shall insure
at
siilar me
bym
mmeans ofpantadequies ateeinsurance nfund tset asideessee ; u
and maintaineinsure the d of
its earnings,
The casualty insurance required hereunder shell, at all limen, be
in an amount at least equal to the amount computed under Section
9.03(b). The liability and property damage insurance shall at all
times be in such amounts as are satisfactory to Lessor.
The Net Proceeds (hereinafter defined) of the casualty insurance
required in this Section 8.04 shall be applied as provided in Section
9.03 hereof. Each insurance policy provided for in this Section 8.04
shall contain a provision to the effect that the insurance company
shall not cenCel the policy or modify it materially or reduce the
i coverage without first giving at least ten (10) days prior written
notice thereof to Lessor and the participating Owners.
Section 8.05. Advances. In the event Lessee shall fail to
maintain the full insurance coverage required by this Lease or shell
fail to keep the Equipment in good repair and operating condition,
Lessor or its nominee may (but shall be under no obligation to)
purchase the required policies of insurance and pay the premiums on
the same or may make such repairs or replacements es are necessary and
provide for payment thereof; and all amounts no advanced therefor by
Lessor or its nominee shall be promptly reimbursed by Lasses together
with interest at the lesser rete of (1) 18% per annum or (ii) the
maximum amount permitted by law on any outstanding amount advanced by
the Lessor.
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ARTICLE IX
DAMAGE, DESTRUCTION AAO CONDDMhTION;
USE OF NET PROCEEDS
Section 9.01. namace. es U IOn and COndAmnation. In the event
that (a) any Item of Equipment or any portion thereof is lost, stolen
or destroyed (in whole or in part) or is damaged by fire or other
casualty, or (b) title to, or the temporary use of, any Item of
Equipment or any part thereof or the estate of Lessee, Lessor or the
Participating Owners in any Item of Equipment or any part thereof
shall be taken under the exercise of the power of eminent domain by
any governmental body or by any person, firm or corporation acting
under governmental authority, then, in the event of such loss, Lessee
and Lessor will cause the Net Proceeds of any insurance claim (or in
the case of any self-insurance, Lessee will cause such self-insurance
proceeds) or condemnation award to be applied to the prompt repair,
restoration, modification or improvement of such Item of Equipment -to
a value not less than that of the Equipment before the loss, with the
balance of the Net Proceeds remaining after such work has been
completed to be paid to Lessee; provided, however, that if a default
by Lessee has occurred and is then continuing under this Lease, Lessee
agrees that, at Lessor's option, exercised by written notice to
Leasee, the Not Proceeds of any such insurance claim or condemnation
award shall be Paid to Lessor for application to the payment of the
sums specified in sub -clauses (i) and (i£) of clause (b) of section
9.02 hereof.
For purposes of Section B4Os hereof and this Article IX, the term
'Nat Proceeds' shall mean the amount remaining from the gross proceeds
of any insurance claim or condemnation award after deducting all
expenses (including attorneys' fees) incurred in the collection of
such claim or award.
Section 9.02. Insufficiency f Net Procgeds. If the Net Proceeds
the Cost Or any repair, restotatlon, moaliication or Improvement
referred to in Section 9.01 hereof, Lessee shall either (a) complete
the work and pay any cost in excess of the amount of the Net Proceeds
(or self-insurance proceeds), and Lessee shall not be entitled to any
reimbursement therefor from Leseat Or from any Participating Owner or
from any Lander, nor shall Laeaas be entitled to any dimunition or
abatement of any of the Rentel Payments payable under Article VI
hereof, or (b) pay Lessor an amount equal to the sum of (i) an amount
determined by multiplying (x) the ratio obtained by dividing the
Acquisition Cost of the Item of Equipment that has been lost, stolen,
damaged, destroyed or condemned by the total Acquisition Cost of all
Items of Equipment listed on the Acceptance Certificate pursuant to
which such damaged Item was originally accepted, by (y) the amount in
Schedule A of the applicable Acceptance Certificate in the column
labeled Casualty/Purchase Option set forth opposite the Rent Payment
Number that corresponds with the date on which the then most recent
Rental Payment Was paid by Lessee to Lessor, (or if prior to the first
Rent Payment, an amount equal to the sum of the first Rental Payment
and the Casualty Purchase Option set forth opposite the first Rent
Payment Number), plus (ii) all accrued and unpaid Rental Payments and
other accrued and unpaid amounts then due and owing by Lessee to
Lessor, and upon receipt of sucb payment by Lessor, in good funds, the
Term with respect to such Item of Equipment shall thereupon terminate
and title to the Equipment shall then be conveyed by Lessor to Lessee.
ARTICLE X
DISCLAIMER OF WARRANTIESI
VENDOR'S WARRANTIESI USE OF THE EQUIPMENT
Section 10.01. DHelaimer of Warran ie•. LESSOR MAKES NO
WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE
VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR PARTICULAR
PURPOSE OR FITNESS FOR USE OF THE EQUIPMENT, OR WARRANTY WITH RESPECT
THERETO. In no event shall Lessor, any Participating Owner or
'9-
/A 93
assignee thereof, or Lender be liable for any incidental, indirect,
special or consequential damage in connection with or arising out o' -
this Lease or the existence, furnishing, functioning or Lessee's use
of any Item of Equipment or products or services provided for in this
Lease.
Section 10.02. Vendor•,.�Vr ire Lessor he irrevocably
appoints Lessee its agent and attorney-in-fact during the Term of
every Item of Equipment, so long as Lessee shall not be in default
hereunder for the sole purpose of asserting from time to time whatever
claims end rights including warranties of the Equipment which Lessor
may have against the Vendor of the Equipment. Lessee's sole remedy
for the breech of such warranty, indemnification or representation
shall be against the Vendor of the Equipment, and not against Lessor,
any Participating Owner or any assignee thereof or Lender, nor shall
such matter have any effect whatsoever on the rights and obligations
of Lessee or Lessor with respect to this Lease. Lessee expressly
acknowledges that Lessor makes, and has made, no representation or
warranties whatsoever as to the existence or availability of any such
warranties of the Vendor of the Equipment.
Section 10.03. Use mE th .I Lessee will not install,
use, operate or maintain the Equipment improperly, carelessly, in
violation of any applicable law or in a manner contrary to that
contemplated by this Lease. Lessee shall provide all permits and _
licensee, if any, necessary for the installation, operation and use of
the Equipment. In addition, Lessee agrees to comply in all respects
(including, without limitation, with respect to the use, maintenance
and operation of each Item of the Equipment) with all laws of the
Jurisdictions in which its operations involving any Item of the
Equipment may extend and of any legislative, executive, administrative
or judicial body exercising any power or jurisdiction over the Items
of the Equipment. Upon the expiration or termination of this Lease
(unless Lessee exercises its option to purchase) Lessee shall return
the Equipment to Lessor in a condition which will permit Lessor to be
eligible for the manufacturer's or supplier's standard maintenance
contract without incurring any expense to repair or rehabilitate the
eauinmen�.
ARTICLE XI
OPTION TO PURCHASE
section 11.01. Option to Purchase. Provided that Lessee is not
then in default hereunder and that no event has ocurred that would
become an event of default but for any grace periods in Article XIII,
title to all but not lees than all the Equipment accepted under any
particular Acceptance Certificate will be transferred by Lessor to
Lessee at any of the following times: (a) at the expiration of the
Tem of all the Items on such Acceptance Certificate, for a
consideration of one dollar ($1.00) (other than an expiration caused
by the occurrence of an event described in section 4.02(a) or (d)
hereof), provided that Lessee has made all Rental Payments required to
be paid hereunder with respect to such Items; or (b) on any Rental
Payment data indicated in schedule A to any Acceptance Certificate
upon payment by Lessee in good funds of (i) the Rental Payment due on
such Rental Payment date plus (ii) the amount shown in said Schedule A
in the column labeled Casualty/ Purchase Option opposite the Rental
ded
thatLossesnt hascBadeesillding Rentelth such Rental Paymonto required t Payment
beapaid under
such AccePtonce Corti fJoe to prtt to such Rental Payment hate. The
closing of such purchase shall occur at Lessor's office, at which gime
the eeEq shall deliveruipmeot to Lessee
Lessee a bill of Bale transferring title to
ttree from any lien or encumbrance created by
or arising through Lessor, but without any other warranties, expressed
or implied. If Lessee fails to exercise its option to purchase prior
to the expiration of the Le sae Sar or 1t will return the Equipment par
Article V.
-10-
ARTICLE XII
ASSIGNMENT; LIENS
Section 12.01. Assienme t 6v iejagr. Parti,Owapy , This
Lease, the Acceptance Certs Eicates, Leasor'e rights and obligations
hereunder and khereunder, including the right to receive Rental
Eguipmentanmayother
assignedsandrreassignedand
inewholesorinterests
part to one
or mora assignees or subassignees and/or Participating Owners and/or
anY Lender by Lessor and, to the extent of its interest, by any
Participating Owner, at any time, upon notice to, but without the
necessity of obtaining the consent of, Lessee. Upon receipt of such
notice, Lessee agrees (i) to make the Rental Payments and other
Payments specified in such notice of assignment directly to the
assiauchgnee(s) and/or Participating Owner(a) or any Lends[ designated in
Le se or rclaim otherwise) paver notwiths(whethernotice of assignment,tarisingafromlaim, defense, breach of this
Lease , otherwise) that Lasses may from time to time have against
Lessor, any such assignee(s), any such Participating Owner(s) or any
Lender, and (ii) to keep a book entry of such assignments consistent
with Section 103(j) of the Code and the regulations promulgated
thereunder.
Section 12.02. Assi t b Lessee agrees not to sell,
transfer, assign, sublease or othawlu encumber or suffer s lien or
encumbrance 12,0(other anOr encumbrance
33 hereof)upon oragainstthe Equipmnt orpthe tied under Section
of
Lessor, any Participating
Equipment from its place oOwner or Lessee hereunda[inoirtotremova the
f installation, without in each case first
having obtained the prior written consent of Lessor.
Section 12.03. LiMIA. Lessee shall not directly or indirectly
create, incur, assume or suffer to exist any mortgage, pledge, lien,
charge, encumbrance or claim on or with respect to the Equipment,
except with respect to the lien granted to Lessor hereunder and
Lessor's rights hereunder, and any lien granted or assigned by Lessor
to any Lender, and Lessee shall promptly, at its own expense, take
such action as may be necessary to discharge any mortgage, pledge,
lien, charge, encumbrance or claim not excepted
shell arise at any time, above if the same
ARTICLE XIII
EVENTS OF DEPAULT AND RM.MDIES
Section 13.01. Event• f D [ 1 ti n,
vents of default' under this Les— ne and the to rms
The• followingavant of dshalltbe
and •default• shall mean, whenever they are used !n thin Lease, any
one or more of the following aventsm
(a) Failure by Lessee to pay any Rental Payment or any other
Payment required er be pall hereunder on the date that the same is
due and payable hereunder (provided, however, that the obligations
of Lessee to make payments of the Rental Payments provided in
Section 6.02 hereof shall be subject to the provisions of Section
6.03 hereof with respect to nonappropriation); or
(b) Failure by Leasee to observe and perform any Covenant,
condition, or agreement on its part to be observed or performed,
(other than as referred to in Section 13.01(a)), for a period of
vft requestingathatfitrberremealad, isogiveni to iLesseehbyaLessorinor
In (c) Lessee shall fail to satisfy any of Lessee's bond
debtedness or other meterfal credit obligations when required
under the snot rumenta evidencing such obligations; or
-11-
/aq 93
(d) Bankruptcy, insolvency, reorganization by Lessee.
(e) Any warranty, representation or statement made by Lessee
is incorrect or misleading in any material respect an the date
made.
Section 13.02, Remedies On_ner.ult. Whenever any event of
default referred to in Section 13.01 hereof shall have occurred and be
continuing, the Lessor may, without any further demand or notice,
exercise any one or more of the following remedies:
(a) declare, by written notice to Lessee, the total
Remaining Principal Balance (as specified in Schedule A to all
Acceptance Certificates executed hereunder) plus all then accrued
and unpaid Rental Payments to be immediately due and payable,
whereupon the same shall become immediately due and payable;
(b) proceed by appropriate court action to enforce
performance by Lessee of the applicable covenants of this Lease or
to recover for the breach thereof including the payment of Rental
Payments due or to become due hereunder or any deficiency therefor
following disposition of the Equipment;
(c) Terminate this Lease as to all or any part of the
Equipment and use, Operate, lease Or hold the Equipment as Lessor
in its sole discretion MAY decide.
V. (d) Require the Lessee to return the Equipment per Article
(e) Lessor may, only upon its first exercising of the
Remedies on Default as set forth in Section 13.02 above, at its
option, upon reasonable notice to lessee and pursuant to due
process of law reenter and take possession of the Equipment
wherever situated and sell, lease, sublease or make other
disposition of the same for the account of Lessee, and apply the
proceeds of any such sale, lease, sublease, or other disposition
(after deducting all costs and expenses, including court costs and
attorneys fees, incurred in connection with the recovery, repair,
storage and other sale, lease, sublease or other disposition of
the Equipment) toward thepayment of the total amount specified in
paragraph (a) of this Section 13.02; and
Section 13.03. Ne Remedy E:r.a�.l..., No remedy herein conferred
upon or reserved to Lessor Ss intended to be a:elusive and every such
remedy shall be cumulative and shall be in addition to every other
remedy given under this Lease or now or hereafter existing at law or
in equity. No delay or omfaaion to exercise any right or power
accruing upon any default shell impair any such right or power or
shall be construed to be a weivsr thereof, but any such right and
power may be exercised from time to time and as often as may be deemed
expedient.
ARTICLE EIV
MISCELLANEOUS
Section 14.01. Notices. All notices, certificates or other
communications hereunder shell be sufficiently given and shall be
deemed given when delivered or mailed by registered mail, postage
prepaid, to the parties at their respective places of business.
-12-
i
Section 14.02. Binding Effect. This Lease shall inure to the
benefit of and shall be binding upon Lessor and Lessee and their
respective successors and assigns.
Section 14.03. Severability. In the event any provision of this
Lease shall be held invalid or unenforceable by any court of competent
jurisdiction, such holding shall not invalidate or render
unenforceable any other provision hereof.
Section 14.04. Amendments Changes and Mnd;f;raf;n This Lease
may be amended in writing by the Lessor and the Lessee; provided,
however, that (a) no such amendment which affects the rights of any
assignee of Lessor or of the Participating Owners shall be effective
unless it shall have been consented to by such assignee, and in the
case of the Participating Owners, by the holders of a majority in
aggregate principal amount of the participation certificates then
issued to and outstanding in favor of sach Participating Owners, and
(b) if this Lease, or any part hereof or any rights hereunder, has
been assigned to a Lender, no such amendment shall be effective unless
it shall also have been consented to by such Lender.
Section 14.05. Execution in Counterparts. This Lease may be
simultaneously executed in several counterparts, each of which shall
be an original and all of which shall constitute but one and the same
instrument. However, to the extent if any that this document
constitutes chattel paper under the Uniform Commercial Code, no
security interest in this document may be created through the transfer
and possession of any counterpart other than counterpart No. 1.
Section 14.06. Accrued Obligations. Any obligations that have
accrued prior to the expiration of the Lease term shall remain
enforceable notwithstanding the termination of this Lease.
Section 14 07. Applicable Law. This Lease shall be governed by
and construed in accordance with the laws of the state wherein Lessee
is located.
Section 14.08. Captions, The captions or headings in the Lease
are for convenience only and in no way define, limit or describe the
scope or intent of any provisions or sections of this Lease.
IN WITNESS WHEREOF, Lessor and Lessee have each caused this Lease
to be executed in their respective names by their respective duly
authorized officers, as of the date first above written.
Attest:
(Seal)
Attest:
hQ '� :!. 4�,J
(Seal)
New England Merchants
F n Corooration
(Lessor)
By: % ,
(Authorized ignatu e)
Its: (-
(Title)
City of Iowa City for the
Iowa City Public Library
(Lessee)
n /
(Authorize, Signature)
Its:_ Mayor
(Title)
-13- ImOved A Approved
Of 110 Lepel Dgnrhnenl
2
/ Q93
I
--i
SCHEDULE A
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DESCRIPTION OF EQUIPMENT
The Equipment which is the subject of the attached Equipment
Lease/Purchase Agreement is as follows:
One (1) new CLSI Computer System and related components;
Upgrade from 1832J45 to DDIMPS48H2W800. As per Lease Purchase
Proposal Letter dated March 10, 1986.
Lessor's Initials
Less e' niti als
-19-
a9'3
r
SCHEDULE A
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DESCRIPTION OF EQUIPMENT
The Equipment which is the subject of the attached Equipment
Lease/Purchase Agreement is as follows:
One (1) new CLSI Computer System and related components,
l
Leuo ZnLnitms -14P
Lessee's I !e e
-la-
-t
i
i
1
I.
SCHEDULE A
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DESCRIPTION OF EQUIPMENT
The Equipment which is the subject of the attached Equipment
Lease/Purchase Agreement is as follows:
One (1) new CLSI Computer System and related components,
l
Leuo ZnLnitms -14P
Lessee's I !e e
-la-
-t
i
SCHEDULE S
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DATED April 30 l9flii
CERTIFICATE OF RESOLUTIONS
I, Marian K Karl' , do hereby certify that I am the
duly elected or appointed and acting Secretary/Clerk of City of
Iowa City f theIo City Pu61ic Library, a State, municipality
or political subdivision duly organized and existing under the
laws of the State of lows (the 'Governmental Unit-), and that
the following resolutions have been presented to and duly adopted
by the Governmental Unit at a meeting duly and regularly held and
conve ed irt,accordance with Applicable law on the day
of Qll V LJ , 19V and that said resolutions have not
been modified or rescinded in whole or in part and are in full
force and effect on the date hereof:
WHEREAS, the Governmental Unit has entered or is entering
into an agreement entitled Equipment Lease/Purchase Agreement (the
•Agreement•) with New Enaland Merchants Fundino Corooretion (the
•Lessor•); -
NOW, 'THEREFORE, be it RESOLVED that the Agreement be, and it
hereby is, approved and that the action of the official or
officials of the Governmental Unit in signing the Agreement on
behalf of it be, and it hereby is, ratified, confirmed and
approved; and be it further
RESOLVED, that any official of the Governmental Unit be, and
is hereby, authorised, empowered and directed to sign on its
behalf the Agreement and any addenda, schedules, notes, UCC
financing statements or other instruments issued under the
provisions of the Agreement and any other instrument or document
which may be necessary or expedient in connection with agreement
upon or fulfillment of the provisions of the Agreement.
iN WITNESS wHEREOF, I have hereunto Subscribed my name as
Secreta CClark and affixadt1he seal of the CAv [omental Unit
this Wt day oL JJII , 19_.
N
Secretary/Clerk
-15-
/ol 0
I,
T "
.i
OF IOWA CITY
CYIT
GTON ST. IOWA CITU. IOWA 52240 (319) 356-500
CIVIC CENTER 410 E. WASHN
SCHEDULE C
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DATED APRIL 30, 1986
OPINION OF LESSEE'S COUNSEL
New England Merchants Funding Corporation
50 Milk Street
Boston, MA 02109
Dear Sirs:
I am the attorney for the City of Iowa City for the Iowa City Public
Library ('Lessee"). In order to renderopinion have
1reviebe the
Lease/Purchase Agreement ('Lease'), dated as
of tween
the Lessee and New England Merchants Funding Corporation ("Lessor,), and
other documents and instruments related to the Lease or otherwise neces-
sary to render this opinion, as well as all proceedings taken by the
Lessee in connection with the Lease. Based upon the foregoing it is my
opinion that:
1. The Lessee is a state or a duly organized and validly existing State
of political subdivision within the meaning of Section 103 of the
Internal Revenue Code and related regulations and rulings. and the
Rentinterest interest ed as
exempt of each
Federalincomentaxation, t will rand tlst to be tand tlocal
income taxation if the recipient of the interest is a resident of the
State of Iowa.
c and
2. The Lessee
uis a nder the duly
onstitution and lawnized and s of the StateuofiIowa. corpo-
rate body
3. Lessee has the power and authority to execute and perform the Lease
and to lease Equipment from the Lessor hereunder.
4. The Lease and related instruments and documents:
(a) have been duly authorized by appropriate resolutions;
(b) do not contravene and will not violate or result in a default
under any charter, certificate of incorporation, by -la ee orden-
its
ture or any other agreement or instrument by
which property is bound or to which Lessee is a party;
/� 93
New England Merchants funding Corporation
July 25, 1986
Page 2
(c) have been duly executed by the duly authorized officers of the
Lessee, and constitute and when performed will constitute the
legal, valid, and binding obligations of the Lessee enforceable
in accordance with their terms.
S. No mortgage, deed of trust, lien or security interest, other than that
created by the Lease, now attaches to the Equipment being leased under
the Lease.
6. No approval or consent is required from any governmental authority
with respect to the entering into or performance by the Lessee of the
Lease and the transactions contemplated thereby, or if any such ap-
proval is required it has been duly obtained.
7. No further action is necessary in order to establish and perfect
Lessor's legal title in and security interest to the Equipment.
8. No litigation or other proceedings are now pending against the Lessee
which would adversely affect Lessor's legal title to the Equipment or,
if decided adversely to the Lessee, would materially affect its finan-
cial condition.
Capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in the Lease.
Yours very truly,
C,
id E. Brown
Asst. City Attorney for the City of Iowa City (Lessee)
DB/sp
1293
I
CITY OF IOWA CITY
CHIC CENTER 410 E. WASHNGTON ST. IOWA CITY, IOWA 52240 (319) 3E, .-5000
SCHEDULE D
TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DATED APRIL 30, 1986
ESSENTIAL USE LETTER
July 29, 1986
New England Merchants Funding Corporation
50 Milk Street
Boston, MA '02109
Re: Equipment Lease/Purchase Agreement dated April 30, 1986
Gentlemen:
This letter is being written with respect to the use of the Equipment
(herein so called) to be teased to the undersigned under the above -
referenced Equipment Lease/Purchase Agreement. The Equipment will be used
by the Iowa City Public Library for the following purposes: for use in the
Library's circulation and bibliographic automated operating system.
The undersigned hereby represents that the use of the Equipment is essen-
tial to its proper, efficient and economic operation.
Very truly yours,
City of Iowa City for the
Iowa City Public Library
u or`z gn�ure,
Its: Ma or
e
IDWO
/;? 93
EXHIBIT E TO EQUIPMENT LEASE/PURCHASE AGREEMENT
ACCEPTANCE CERTIFICATE NO. 1
The undersigned, as Lessee under the Equipment Lease/Purchase
Agreement (the "Lease") dated as of April 30, 19H, with New England
Merchants Funding Corporation ("Lessor") as assigned to N/A
("Assignee"), hereby (a) acknowledges and certifies that all of the
Equipment described herein was delivered to the undersigned
on • April 1 , 19_M; (b) acknowledges and agrees that the
undersigned has recieved all of the Equipment described herein in good
condition; (c) unconditionally accepts all of the Equipment described
herein for all purposes of the Lease, (all terms and conditions of
which are incorporated herein) but for no other purpose,
31St 4thgyq August
kz x
i
this
day of � ICY01 1986 ; (d) represents
that no Event of Default as defined in the Lease has ocurred or is
continuing; and (e) confirms that it will commence
payment of the
Rental Payments on July 1 19 86, in accordance with
i
Article VI of the Lease, and Schedule A attached hereto.
I
i
1. Description of Equipment (include make, model, serial number
and quantity).
One (1) new CLSI Computer System and related components;
Upgrade from IB32J45 to DDINPS48112W800. As per Lease
Purchase Proposal Letter dated March 10, 1986.
2. Location: 123 South Linn Street. lowa lowCity Iowa 52240.
3. Acquisition Cost: 1143.200.00
� 1
4. Commencement Date: A Jul xx4x �rG'�198
All capitalized terms used herein which are not defined herein
shall have the meaning given to such terms in the Lease.
City of Iowa City for the
Iowa City Public Library
essee
i
Its: Mav�r
New England Merchants
Funding Corporation
Lessor
(Assignee if Lease has been
assigned)
�
By:
Its: dL
-19-
�aq3
BODILY INJURY AND PROPERTY DAMAGE LIABILITY INSURANCE
ADDITIONAL INSURED ENDORSEMENT (LEASE)
Endorsement No.: 1
Attached to ■nd forming part of Policy %0-:
Effective Date of Endorsement: --
Expiration Date of Endorsement or Poliey:
Name and Address of insurer:
Name and Address of Insured Lessee ("Lessee"):
It is herebv agreed by this Endorsement that:
1. Type of C oversee. New England Tkrchants.Funding Corporation, 50 milk
Street, Boston, Ya asap. tts 02109 and anv assignee, or,subassignee, as set forth
in paragraph 6, below, (all of whom are referred to herein as "Lessor") are named
as additional insureds, as their respectiveinterests may appear, under the .
above—referenced Policy, insuring the Lessor (a) against liability for bodily injury,
death and property damage resulting from or arising out of the possession, use and
operation of the Leased Property referred to and described in paragraph 2 below, and
(b) in an mount not less than S loo ono.on per occurrence.
2. nescription of Leased Property• The ]eased Property consists of all of the
property now or hereafter leased by the lessor to the Lessee under and as described
�snd
in the Equipment Lease/Purcbase Agreement dated as of 4/30
various Schedules, Exhibits, or lease Supplements relating thereto collectively the
"Less e") .
9, Breach of Warranty. The insurance provided by this Endorsement , solely as to
the interest therein of the lessor, shall not be impaired or invalidated by any act or
warranty or condition of the above referenced
neglect of, or violation or breach of any
Policy by, the lessee, nor by any foreclosures or other proceedings or notice of sale
relating to the leased Property; provided that, in the event the Lessee shall neglect
to pay any premitn due under said Policy, with respect to this Endorsement, the Lessor
may, but shall not be obligated to, pay said premium.
4, Notice of Cancellation. In the event of the cancellation of the above
referenced Policy, or of this Endoraem ant, or of any material alteration of, or
prior
reduction in coverage of, said Policy or this Endorsement, thirty (30) days prior
written notice of such cancellation, material alteration or reduction in coverage
shall be mailed to each Lessor at their respective addresses and no such cancellation,
material alteration of or reduction in coverage shall be effective until said notice
has been given to each Lessor,
L/MrJNIC/LSC BOGY/INS/LSE
-2-
5. The Insurer waives all right of subrogation against the Lessor.
6. Name and Mdress of Assignee of New England Merchants Funding Corporation
(if none, so state):
The undersigned Hereby declares and certifies that this Endorsement is true and
accurate in all respects, and that an executed counterpart hereof has been attached
to and forms a part of the Policy identified above.
Westeg qasualty and Surnty, Com an
ilns urer or duly authorised Agent of Insurer)
By:
Marg et A. Welsh
Its:10 J�e't2ts/ i.Ji y-•
Agent and Autt UTzezed—g resentative
Dated:el Of
, 19ptp
r
I(
i
i
1
J — 1
i
ENDORSEMENT
LESSOR'S LOSS PAYABLE CLAUSE
Endorsement No.:
Attached to and forming part of P
Effective Date of Endorsement:
Expiration Date of Endorsement or
Name and Address of Insurer:
Name
It is hereby agreed by this Endorsement that:
1. 7„_pe of Coverage. The leased property, referred to and described in
paragraph 2 below (the "Leased Property") is insured for the amounts specified in
paragraph 3 below against all risks covered by fire, theft, windstorm, explosion, and
extended coverage; and all insurance proceeds payable for all losses with respect to
such leased property shall be payable solely to
New England Merchants Funding Corporation (the "Lessor")
Fifty Milk Street
Boston, Massachusetts 02109
nd Address of Insured Lessee (the "Lease
Iowa Public LSbrary, 123 South Linn Styi
and to any assignee of the Lessor named in paragraph 7 below, as their respective
interests may appear. If an assignee of the Lessor is so named, all references to
the Lessor in paragraphs 4 and 6 of this Endorsement shall also mean and include such
assignee.
2. Description of Leased Property: The Leased Property consists of all of the
property now or hereafter leased by the Lessor to the Lessee under and as described
in vaster Eguinment Lease/Purchase Agreement dated as of Aoril 20 , 19g�,
and various Schedules, Individual Leasing Records or Certificates of Acceptance
thereto (collectively the "Lease"), including, without limitation, the following
property:
Quantity Serial No. Description Location
One (1) CLSI Computer System
and related components
3. Amount of Coverage. The Leased Property is insured for an amount equal to
the greater of (a)the replacement value of the Leased Property, or (b)
the applicable casualty/Purchase Value as stated in the Lease
T
0
i. mreac_h 21 tarranty. The insurance provided by this Indorsement, solely at to
the interest therein of the Lessor, shall not be impaired or invalidated by any act
or neglect of, or violation of breach of any warranty or condition of the above.
referenced Policy by, the Lessee, nor by any foreclosures or other proceedings or
notice of sale relating to the Leased Property; provided that, in the event the
Lessee shall neglect to pay any Premium due under said Policy, with respect to this
Endorsement, the Lessor shay, but shall not be obligated to, pay said premium.
S. Notice of Cancellation. In the event of the cancellation of the above -
referenced Policy, or of this Endorsement, or of any material alteration of, or
reduction in Coverage of, laid Policy or this Endorsement, ten (10) days prior
written notice of such cancellation, material alteration or reduction in coverage
shall be mailed to the Lessor at its above address (Attention: Insurance Manager),
and to the assignee, if any, named in paragraph 7 below, at such assignee's address,
and no such cancellation, material alteration of or reduction in coverage shall be
effective as to the Lessor or as to any such assignee until said notice has been
given to each of then.
6. Waiver of Subrogation. The Insurer waives all right of subrogation to
Lessor's rights against the Lessee.
7. None and Address of Assignee of Lessor (if none, ao state):
The undersigned hereby declares and certifies that this Endorsement is true and
accurate in all respects, and that an executed counterpart hereof has been attached
to and forms a part of the Policy identified above.
..0 , y .y
(InsuA?Vd of Insurer)
by
Its:
(7itle)
Dated:19C7 1
q4
SCHEDULE A
TO
CERTIFICATE OF ACCEPTANCE k 1
EXECUTED PURSUANT TO
EQUIPMENT LEASE/PURCHASE AGREEMENT
DATED Aprll 30 , 19.0
SCHEDULE OF RENTAL PAYMENTS
91
I
Number of
Rental Payments Sixty
-
Periodicity of Rental
Payments Monthly
in arrears
Rental
Total
Amount
Amount
Casualty/
Payment
Rental
Attributable
Attributable
Purchase
amber
Payment
to Principal
• to-Inte-raLt.
optim
Payment
prior to receipt of payment
1
$150,828.22
1
2,.988.58
2x106.75
879.83
`
148x721.47
2
2x986.56
21119.04
R6c,.,4
146x602.43
2x986.58
2r131.40
855.18
140471.03
3
2x986.58
2r 143.83
842.75
142x327.20
4
c
2rSE6.58
2x156.34
830.24
140x170.86 i
6
2,986.58
2x168.92
817.66
138001.94
2x986.58
2x181.57
805.01
135x820.37
g21986.58
2x194.29
792.29
133x626.08
2,9186.582
r�07.09
779.49
131x418.99
i,
921936.58
2x219.97
766.61
129x199.02
10
11
21936.58
2x232.92
753.66
126x966.10
-
2,986..x8
2r_4.,.94
740.64
124x720.16 -
1 p
13
2rS36.58
05
2x259.05
727.53
122x461.11
14
27926.59
2x272.__
714.36
120x188.89
2r9E6.53
2x285.48
701.10
117x903.41
15
16
2x985.59
2r298,E1
667.77
115x604,84
17
2rSE6.58
2x312.22
674.36
113x292.30
2x5?6.58
2x325.71
660.87
110r966.67
19
19
2,7E,6. 50
2,339.27
649.31 .
108,627.40
2 x916.58
2x359_.92
633.66
146x274.48
n0
i
2x6'.^.6.58
2x366.65
61-9,93
103x907.£3
21
2,
?"4,45
606.13
141x527.38
23
2,9£•6,58
2x394,34
59:'.24
99x133.04
219S6.58
2r408,30
57E.2E
96,724.74
24
25
21996,511
2r422.35
56,.23
94002,39
26
9_ ,6:6.51'
21436.48
650.10
91,865,91
n7
2x5'"06.58
2x454,70
535.88
89x415.21
20
2i5si.59
2r464.99
`91,59
Bbr954.�2
2,556.`.8
2x479.37
507._'1
[4x474,85
29
21 r•�.•" 5?
2x493.83
4wt.75
?1,977.42
" �',
2,536, 5J
2x508.38
478.20
79x468,84
32
2r7r x, :,g
.x�.52 3.Q1
48.3.57
76x945,62
.!,537.7,4
ES
4x407. ;'G
t
Lessor's
Initials
I/
Lers'see s'Initials
[page 1 of 2 pages)
-20-
i�93
I -.y
SCHEDULE A
TO
CERTIFICATE OF ACCEPTANCE A_1_
EXECUTED PURSUANT TO
EQUIPICENT LEASE/PURCHASE AGREEMENT
SCHEDULE OF RENTAL PAYMENT
:•rental Total Amount Amount Casualty/
Payment Rental Attributable Attributable Purchase
Number payment to Principal to Interest Option
3.1 i r.; r,6 1 51 4_4,0, r� ---+
rl:_. _ 7110.,
35 'G.Y1G,: 2rr.:?.42 419.16 691287,iJ
:i6 2>9� .Sk Sr5�_,40 494.12 6ur7U5,...,
37 ;?. ;, b:l 2,5'i?.46 389`12 u4r 108.:
:SB 2r" SE' 2r 612.6^ .•7--,91, 61r495.4:
39 T. r `l.'.'6. S:^, 2 r 627.8.5 72 58, 867.6'
40 21 rg6.5' 2r 653, 19 241.39 5 oo A2
�b1._4.
41 ^_r986.S' 2r 658.60 327,°8 53,565.5^_
42 2x98•.8' 2x674.11 312.0 50x891.71
43 21986.52 2x689.71 296.87 48,202.00
44 2r986.5R 2,705.40 281•.1? 45,496.6!:
45 21986.501 2021.1B 265.40 42,775.42
46 21986.51! 2,737.06 249.52 40,038.'•'
47 2,986.58 2x753.02 233.56
r .50 371-2_?
5.34
48 2x986..8 1,769.08 � 217 34,516.=6 '
49 2,986.58 2,785.24 201.34 319731.02
50 2,986.55 21801.48 185.10 08,929.5,
51 2,986,58 29817,82 168.76 26,111.?2
52 2r986,58 2,834.26 152.32L.
23,277.•16
53 2,986.58 2,850.79 135.79 201426,6,7
54 2,986.58 2,867,42 119.16 17,559.25
55 29986.55 2,894,15 102.43 149675.10
56 2,986,5" 2x900.98 85.60 111:74.:_ I'
57 2,906,58 2,917.90 68.68 8.356,-:
-58 2,986.5? 2,934.92 51,66 5Yo21, ;.
59 2,986.59 21952.04 34.54 2ic6o,:
j 60 2, 9£:6.51: 2t969.26 17.32 0"*.
i
i
I
I
i
i
l
' L
Lessor's Initials Less e's Initials
[page 2 of 2 pages]
-21-
I
! 1x93
RESOLUTION NO. 86-253
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST
THE RELEASE OF LIEN REGARDING A PROMISSORY NOTE EXECUTED BY MONA
JESPERSON.
WHEREAS, on August 10, 1982, Mona Jesperson executed a promissory note to the
City of Iowa City in the amount of $12,450.00 for value received by way of a
Housing Rehabilitation Forgivable Loan, and
WHEREAS, said promissory note provided that the principal of said note would
be forgiven in the event of death of the signatory of the note, and
WHEREAS, the City has received documentation that Mona Jesperson was
deceased, and
WHEREAS,- the existing principal on said note is $4,980.00.
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, whereby the City does release the affected property
from an obligation of Mona Jesperson to pay to the City the principal amount
of $4,980.00.
It was moved by �Str�' and seconded by Dickson
the Resolution be a opted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Ambrisco
X Baker
X Courtney
X Dickson
McDonald
Strait
Zuber
s
Passed and approved this 29th day of July 1986.
ATTEST: %%jj//Q�CQ,,)U
>;I1�
R000lvad & Appivv
By lege)D dpi
�gjeL
T
1� .
RELEASE OF LIEN
KNOW ALL MEN BY THESE PRESENTS:
That the City of Iowa City, Iowa, does hereby release the following -described
property:
The north half (N1/2) of Lot Five (5), Block Forty-three (43), East
Iowa City, an addition to Iowa City, according to the recorded plat
thereof.
from an obligation of Mona Jesperson to the City of Iowa City, Iowa, in the
principal amount of $4,980.00 represented by a Promissory Note recorded in
the Office of the Johnson County Recorder on August 16, 1982, in Book 629,
page 101.
This obligation has been forgiven in full for reasons of death.
CITY OF IOWA CITY, IOWA
/A6
ATTEST: aY r
7, Reeetved & Approval
i18�I�KJ B1 The Legal 0 ra --.I
STATE OF IOWA
) SS:
JOHNSON 2C9OtUNNTY )
signed, a Notary Pub cof Uln an or sa �County,O198in saidfore me, State the under -
appeared William J. Ambrisco and Marian K. Kar, to me personally personally
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 by authority of its City Council; and that the said William J.
Ambrisco 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.
otgy Public in -and or o nson oun y, owa
/.? 9j,e
i
RALPH L. NEUZIL
DALE SANDERSON
I
NEUZIL & SANDERSON
ATTORNEYS AT "w
119 WRmHTSrHEET
P.O. BOX 1607
IOWA QTY• IOWA 52244
June 20, 1986
his. Pam Barnes
Housing Rehabilitation Program
City of Iowa city
Civic Center
Iowa City, Iowa 52240
Re: Mona Jesperson Estate
Application No. 823074
Tne,HoNe:
IOWA CITY (318) 339.31 e9
OSFOR013191028-4175
Dear Ms" Barnes:
As per telephone conversation, I enclose herewith, a copy of the
disclosure statement wherein Mona Jesperson who owned property at 1
1002 6th Avenue in Iowa City, Iowa, was given a grant to improve her
home. Be advised that Mrs. Jesperson died at Iowa City, Iowa on
May 13, 1986• Her brother, James Harney, Jr. has been appointed
the Executor of her estate and a copy of his Letters of Appointment
are enclosed, and the estate is pending in the Johnson County District
Court under File No. 20205.
If I understand by your promissory note, and rehabilitation loan, dated
August 11, 1)82, there would be no pay back or amounts due and owing on
this loan. I would appreciate it very much if you would proceed to have
instruments prepared and approved by the City Council releasing their
!!. lien on the real estate.
Should there be any questions, please let me know.
Very truly yours,
I
Ralp L.Ne zil,
Attorney at Law
rlq Kr
RBClei V&y
Jl IN 31.985
NOOSING INSFECtION SFPVM,14
I
RESOLUTION NO. 86-254
RESOLUTION AUTHORIZING THE CITY ATTORNEY TO INSTITUTE AND CONDUCT
CONDEMNATION PROCEEDINGS TO ACQUIRE CERTAIN REAL PROPERTY NECESSARY
FOR IMPROVEMENTS AT THE IOWA CITY MUNICIPAL AIRPORT.
WHEREAS, the City Council has approved funding for the Runway 6-24 Extension
Project at the Iowa City Municipal Airport, and
WHEREAS, said project is consistent with the plans of the City of Iowa City to
regain compliance status with the FAA and is for the public purpose of improv-
ing the Iowa City Municipal Airport, and
WHEREAS, as an integral part of said project, it is necessary to acquire the
below -described private property for public use and benefit:
Parcel 1:
That part of the SE 1/4 of the NW 1/4 of Section 21, Township 79
North, Range 6 West, Johnson County, Iowa, described as follows:
Commencing at the NW corner of said Section 21; thence N 89055130"
E along the North line of said NW 1/4 a distance of 1320.2 feet to
the NE corner of the NW 1/4 of said NW 1/4; thence S 01049' W
along the East line of said NW 1/4 of the NW 1/4 a distance of
1334.8 feet to the NW corner of said SE 1/4 of the NW 1/4, said
corner being the point of beginning; thence S 89045' E along the
North line of said SE 1/4 of the NW 1/4 a distance of 248.0 feet;
thence S 55011' E 703.6 feet; thence N 82005'30" W 356.7 feet;
thence S 71000' W parallel with and 625.0 feet from the centerline
extension of Runway 24-6 of the Iowa City Airport 517.1 Net to
the West line of said SE 1/4 of the NW 1/4; thence N 01 49' E
along said West line 522.4 feet to the point of beginning. Con-
taining 5.20 acres, more or less. Subject to easements of record.
For the purpose of this description, the North line of the NW 1/4
is assumed to bear N 89055'30" E.
Parcel 2:
That part of the West 1/2 of the NW 1/4 of Section 21, Township 79
North, Range 6 West, Johnson County, Iowa, described as follows:
Commencing at the NW corner of said Section 21; thence S 01045' W
along the West line of said NW 1/4 a distance of 743.0 feet to the
point of beginning; thence continuing S 01045' W along said West
line 1571.3 feet; thence N 71000' E parallel with and 625.0 feet
from the centerline extension of Runway 24-6 of the Iowa City
Airport 1408 ,,6 feet to the East line of said W 1/2 of the NW 1/4;
thence N O1b49' E along said East line 1267.8 feet, thence S
71000' W parallel with and 560.0 feet from said centerline exten-
sion of Runway 24-6 a distance of 890.8 feet; thence N 74022' W
500.4 feet to the point of beginning. Containing 40.04 acres,
more or less. Subject to the county road and easements of record.
For the purpose of this description, the West line of the NW 1/4
is assumed to bear S 01045' W.
/A fif
-I
Parcel 3:
That part of the SE 1/4 of the NE 1/4 of Section 20, Township 79
North, Range 6 West, lying south of the original State Highway No.
1, in Johnson County, Iowa, described as follows:
Commencing at the NE corner of said Section 20, thence S 01045' W
along the East line of said NE 1/4 a distance of 1327.4 feet to
the NE corner of said SE 1/4 of the NE 1/4• said corner being the
point of beginning; thence continuing S 01b45' W along said east
line 945.6 feet; thence S 63052'30" W 2988 feet; thence N 19000'
W 715.7 feet to the centerline of the original State Highway No.
1; thence N 64032' E along said centerline 232.6 feet to the be-
ginning of a tangent curve to the left; said curve having a radius
of 572.96 feet; thence northeasterly along said curve on said
centerline 432.4 feet through a central angle of 43014'10" to a
point on the North line of said SE 1/4 of the NE 1/4; then S
89045' E 33.0 feet to the point of beginning. Containing 7.59
acres, more or less. Subject to the county road and easements of
record. For the purpose of this description, the East line of the
NE 1/4 is assumed to bear S 01045' W.
Parcel 4:
That part of the NE 1/4 of the NE 1/4 of Section 20, Township 79
North Range 6 West, lying southeasterly of present State Highway
No. 1, westerly of the original State Highway No. 1, and north-
easterly of the county road, in Johnson County, Iowa, described as
follows:
Commencing at the NE corner of said Section 20; thence S 01045' W
along the East line of said NE 1/4 a distance of 743.0 feet to a
point on the southeasterly right-of-way line of present State
Highway No. 1; thence S 38004' W along said right-of-way line
feet;261.5 thence S 9along along
right-of-way feet; hence N36018W aid right-of-way line 873
feet; thence S 11059' W along said right-of-way line 67.0 feet to
a point on the centerline of the county road; thence S 36018' E
along said centerline 85.9 feet to the beginning of a tangent
curve to the right; said curve having a radius of 572.96 feet;
thence southeasterly along said curve on said centerline 215.1
feet through a central angle of 21030150" to a point on the
centerline curve of said original State Highway No. 1, said curves
not being tangent; thence northerly along the second curve 165.4
feet on the centerline of said original State Highway No. 1, said
second curve having a chord bearing N 10001' E, a radius of
572.96 feet, and concave Westerly, througha central angle of
16032'15" to the opoint of tangency on the said East line of the NE
1/4; thence N 01 45' E along said East line on said centerline of
original State Highway No. 1 a distance of 393.6 feet to the point
of beginning. Containing 1.18 acres, more or less. Subject to the
county road and easements of record. For the purpose of this
description the East line of the NE 1/4 is assumed to bear 5
01045' W.
1
AQ 1100
3
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA:
1. That the public interest requires the City of Iowa City to make improve-
ments for the Iowa City Municipal Airport on the above-described real
property.
2. That the City Attorney is hereby authorized to institute and conduct con-
demnation proceeding to acquire the above-described real property necessary
for improvements at the Iowa City Municipal Airport.
It was moved by Dickson and seconded by Courtney
the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
�— AMBRISCO
x_ BAKER
_x COURTNEY
x DICKSON
X MCDONALD
x_ STRAIT
X ZUBER
Passed and approved this2_ 9th day of July 1986.
MAY P
ATTEST: YY�,, =� .I(_ EOL .,1
CITY CLRK
Recalvsd 6 Approved
M_�parhnwt
/44 tyl
I
C�
3
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA:
1. That the public interest requires the City of Iowa City to make improve-
ments for the Iowa City Municipal Airport on the above-described real
property.
2. That the City Attorney is hereby authorized to institute and conduct con-
demnation proceeding to acquire the above-described real property necessary
for improvements at the Iowa City Municipal Airport.
It was moved by Dickson and seconded by Courtney
the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
�— AMBRISCO
x_ BAKER
_x COURTNEY
x DICKSON
X MCDONALD
x_ STRAIT
X ZUBER
Passed and approved this2_ 9th day of July 1986.
MAY P
ATTEST: YY�,, =� .I(_ EOL .,1
CITY CLRK
Recalvsd 6 Approved
M_�parhnwt
/44 tyl
I