HomeMy WebLinkAbout1986-11-25 Council minutesCOMPLETE DESCRIPTION OF COUNCIL ACTIVITIES
November 25, 1986
Iowa City Council, spec. mtg., 11/25/86, 12:00 noon at the Civic
Center. Mayor Ambrisco presiding. Councilmembers present: Ambrisco, Courtney,
Dickson, McDonald, Strait, Zuber. Absent: Baker. Staffinembers present:
Atkins, Helling, Timmins, Boyle, Karr, Cain. Council minutes recorded !al
on Tape 86-C83, Side 2, 1-98.
Moved by Strait, seconded by Dickson, to adopt RES. 86-347, Bk. 93,
p. 948, AUTHORIZING THE SUBMISSION OF AN APPLICATION TO THE IOWA
DEPARTMENT OF ECONOMIC DEVELOPMENT FOR IOWA COMMUNITY ECONOMIC BETTERMENT
ACCOUNT FUNDING. Affirmative roll call vote unanimous, 6/0, Baker
absent. The Mayor declared the resolution adopted.
A public hearing was held on intention to issue Industrial
Development Revenue Bonds (Mid -City Hotel Associates - Iowa City i
Project). The Mayor and City Mgr. outlined the agreement and $150,000
payment to the City from the Holiday Inn. No one appeared.
Moved by McDonald, seconded by Strait, to adopt RES. 86-348, Bk.
93, p. 949, AUTHORIZING THE ISSUANCE OF $8,375,000 COMMERCIAL DEVELOPMENT I
REVENUE REFUNDING BONDS (MID -CITY HOTEL ASSOCIATES - IOWA CITY PROJECT)
SERIES 1986 OF THE CITY OF IOWA CITY, IOWA, FOR THE PURPOSE OF MAKING
A LOAN TO ASSIST HARRY A. JOHNSON, JR., D/B/A MID -CITY HOTEL ASSOCIATES
- IOWA CITY, IN THE REFUNDING OF THE CITY OF IOWA CITY, IOWA, ?
LENDER -ASSISTED COMMERCIAL DEVELOPMENT REVENUE BONDS (MID -CITY HOTEL
ASSOCIATES - IOWA CITY PROJECT) SERIES 1983; AUTHORIZING THE EXECUTION i
AND DELIVERY OF CERTAIN FINANCING DOCUMENTS PERTAINING TO THE PRODUCT;
AUTHORIZING AN ASSIGNMENT OF CERTAIN FINANCING DOCUMENTS FOR FURTHER
SECURING THE PAYMENT OF THE BONDS; AUTHORIZING THE SALE OF SAID BONDS;
AUTHORIZING THE APPOINTMENT OF A TRUSTEE; AND RELATED MATTERS. The Mayor
declared the resolution adopted, 5/O, with the following division of
roll call vote: Ayes: Dickson, McDonald, Strait, Zuber. Nays: None.
Abstained: Courtney. Absent: Baker.
Moved by Zuber, seconded by McDonald, that the rule requiring
ordinances to be considered and voted on for passage at two Council
meetings prior to the meeting at which it is to be finally passed be
suspended, the first consideration and vote be waived and the seconded I
consideration be given at this time. Affirmative roll call vote
unanimous, 6/0, Baker absent. The Mayor declared the motion carried.
Moved by Zuber, seconded by McDonald, that the ordinance amending Section
23-189 of the Municipal Code of Iowa City to change speed limits on parts !
of U.S. Highway 6, be given second vote for passage. Affirmative roll
call vote unanimous, 6/0, Baker absent. The Mayor declared the motion
carried.
Moved by Dickson, seconded by Courtney, to adjourn 12:10 p.m. The
Mayor declared the motion carried unanimously, 6/0, Baker absent.
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