HomeMy WebLinkAbout1985-10-16 Resolutionr
RESOLUTION NO. 85-304
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST
AN AGREEMENT BETWEEN THE CITY OF IOWA CITY AND HANSEN LIND MEYER,
P.C. FOR ARCHITECTURAL/ENGINEERING SERVICES FOR THE NEW ADDITION TO
AND ALTERATION OF THE IOWA CITY CIVIC CENTER.
WHEREAS, the Iowa City Civic Center is currently inadequate to accommodate
the operations of the government of the City of Iowa City, and
WHEREAS, the addition of a new office building adjacent to the Civic Center
and remodeling of the existing facility will relieve current overcrowding and
allow for the relocation of the Engineering Division and the Department of
Planning and Program Development to the Civic Center complex, and
WHEREAS, it is in the public interest to provide adequate office space for
j certain City operating and administrative departments in one central loca-
tion, and
WHEREAS, the City has negotiated an agreement with Hansen Lind Meyer, P.C. to
provide architectural and engineering services relating to the construction
of a new office facility and remodeling of the existing Civic Center.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY,
IOWA, THAT:
The Mayor is hereby authorized to sign, and the City Clerk to attest, an
agreement between the City of Iowa City, Iowa and Hansen Lind Meyer, P.C. for
architectural/engineering services for the new addition to and alteration of
the Iowa City Civic Center.
It was moved by Ambrisco and seconded by Zuber
the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Ambrisco
x Baker
X Dickson
x Erdahl
X McDonald
x Strait
X Zuber
Passed and approved this 16th dAy of October 1985.
ATTEST:
by Z;a apartment
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AGREEMENT
IOWA CITY CIVIC CENTER ADDITION AND ALTERATION
This Agreement, made and entered into this 2q day of �
1985, by and between the
City of Iowa City, here ina ger referre o as e
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City, and Hansen Lind Meyer, P.C., an Iowa corporation, of Iowa City,
Iowa, hereinafter referred to as the Architect.
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Now, therefore, it is hereby agreed by and between the parties hereto
that the City does retain the said Architect to act for and represent it
in all matters involved in the terms of this Agreement. The project
consists of a new addition to and alteration of the Iowa City Civic
Center. The project will include all architectural, mechanical, electri-
cal, structural, interior furnishings and signage, and site drawings
required to construct the project. Such contract shall be subject to the
following terms and conditions and stipulations, to -wit:
The Architect shall not commit any of the following employment
practices and agrees to prohibit the following practices in any sub-
contracts.
a. To discharge from employment or refuse to hire any individual because
of their race, color, religion, sex, national origin, age, disability,
marital status, sexual orientation, or creed.
b. To discriminate against any individual in terms, conditions, or
privileges of employment because of their race, color, religion, sex,
national origin, age, disability, marital status, sexual orientation,
or creed.
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ARTICLE I. SCOPE OF SERVICES
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Section 1. The following services to be performed by the Architect shall
consist of the following:
Phase A - Schematic Design
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Phase B - Design Development
Phase C - Contract Documents
Phase D - Bidding
Phase E - Administration of Construction Contract
Phase F - Additional Services of the Architect
The Architect shall be responsible for the design of the Iowa City Civic
Center addition and alteration.
Section 2. For the purposes of this Agreement, John Benz shall be
assigned and act as the project director and John Carlson shall be
assigned and as project coordinator. The City designates Douglas Boothroy
to act as the City's representative with respect to the work o e
performed in this Agreement, and he shall have complete
e authority to
transmit instructions, receive information, process change orders,
interpret and define City policies and decisions with respect to materi-
als, equipment, elements and systems pertinent to this project. Changes
in assignment by the Architect shall be grounds for termination by the
City of this Agreement.
The parties recognize that, due to the nature of this project, many other
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individuals will be involved to some extent during the course of this
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project.
Section 3. The detailed work program shall be as follows:
Phase A - Schematic Design Phase
In this phase of the study, the Architect shall meet with representatives
of the City to review and analyze the project. Discussion shall commence
with the documents prepared under a previous study and the
plans of
existing structure.
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Based on the mutually agreed upon program and project budget requirements,
the Architect shall prepare for approval by the City, Schematic Design
Documents consisting of drawings (including typical elevations) and other
documents illustrating the scale and relationship of project components.
Such design will take into account all previous policy decisions, the type
and use of the facility, method of operation, architectural and structural
requirements and site configurations as well as other factors influencing
the operation of the Civic Center.
The Architect will advise the City as to the necessity of providing or
obtaining from others data or services of the type described in the
section entitled Additional Services of the Architect.
All preliminary designs and studies in this phase shall be closely
coordinated with the City, and shall be submitted to the City for review
and approval. The Architect shall provide ten (10) copies of a written
report of findings and recommendations.
At an appropriate time during development of the schematic design, the
Architect shall present the designs to the Design Review Committee. The
Design Review Committee does not have specific approval rights of the
project but shall make its recommendations known to the City Manager.
The Architect shall submit to the City a statement of probable construc-
tion costs based on current area, volume or other unit costs.
Phase B - Design Development Phase
After written authorization to proceed with the Design Development Phase,
the Architect will:
on the basis of the approved schematic design documents, prepare
Design Development Documents consisting of final design criteria,
drawings and specifications.
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The Design Development Phase shall include consideration of the following S
factors:
a. Establish column location, stairs and elevator(s) location, entry and
exit i design, and construction materials and textures. i
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b. Establish lighting levels, light fixture types, other electrical
requirements and elevator requirements.
C. HVAC, plumbing and piping system requirements and alternatives based
on energy code requirements.
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d. Establish grades and dimensions.
e. Furnish the City with ten (10) copies of the Design Development
Documents for review by the City. ;
f. The Architect shall submit to the City an updated statement of
probable construction costs.
Phase C - Contract Documents Phase
After City approval of the Design Development Phase and statement of
probable construction costs, and upon written authorization to proceed,
the Architect will begin the Construction Document Phase which will
include:
a. Preparation of specifications and construction contract documents. The
specifications and construction contract documents shall be subject to
City approval. The Architect shall assure that the construction
contract documents include all the requirements of the City's affirma-
tive action and equal opportunity program. The Architect will
coordinate with the City's Civil Rights Specialist to assure that all
required non-discrimination and equal opportunity statements are
included in the contract documents.
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b. Furnishing the City with ten (10) copies of the specifications and
Icontract drawings for a final review by the City.
C.
Update the probable statement of construction cost document upon
completion of the contract documents.
The Architect shall maintain close coordination with Iowa -Illinois Gas and
Electricthe Cablevision, and C�North Northwestern Bell ywith bregard lic t Works utility relocatiHeof Iowa ritage
utility design.
Phase D - Bidding
The Architect shall provide the following services in this phase upon
written authorization from the City.
a. Assist the City in securing bids and provide bid documents for
contractors.
b. Tabulation and analysis of bid results .and furnishing recommendations
on the award of the construction contracts.
c. Assistance on the preparation of the formal documents for the award of
the contracts.
Phase E - Administration of Construction Contract
The Architect shall provide the following services in this phase.
a. Review shop drawings and samples, the results of tests and inspections
and other data which the contractor is required to submit, but only
for conformance with the design concept of the project and compliance
with the information submission requirements stated in the construc-
tion contract documents; determine the acceptability of substitute
materials and equipment proposed by contractor(s); and receive and
review (for general content as required by the specifications)
maintenance and operating instructions, schedules, guarantees, bonds
and certificates of inspection which are to be assembled by contrac-
tor(s) in accordance with the construction contract documents.
b. Interpret the requirements of the construction contract documents with
the approval of the City. Interpretations and decisions of the
Architect shall be consistent with the intent of and reasonably
inferable from the contract documents and shall be in written or
graphic form.
c. Review, process and make recomendations on applications for progress
payments.
d. Conduct an inspection to determine if the project is substantially
complete and a final inspection to determine if the project has been
completed in accordance with the plans, specifications, contract plan
and contract documents and if each contractor has fulfilled all of his
obligations thereunder so that the Architect may approve, in writing,
final payment to each contractor.
e. Provide an eleven (11) month visit after final acceptance of the
project by the City.
f. Make a final punch list for the City upon completion of the project.
g. Issue all instructions of the City to the contractor; prepare routine
change orders as required; and require special inspection or testing
of the work as the Architect deems necessary.
h. Make periodic visits to the site (approximately three per week) to
observe as an experienced and qualified design professional the
progress and quality of the executed work. Also the Architect shall
monitor the work of the full-time project representative, if provided
as an additional service. The Architect shall report any observed
deficiencies in the contractor's performance to the City.
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The Architect and the City shall have the authority to reject work
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which does not conform to the contract documents.
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The extent of the duties, responsibilities and limitations of author-
ity of the Architect as the City's representative during construction
shall not be modified or extended without written consent of the City
and Architect.
Phase F - Additional Services of the Architect
If
authorized in writing by the City, the Architect shall furnish or
obtain from others the additional services of the following types which
are
not considered normal or customary basic services. These will be paid
for
as stated in Article v, Compensation for Services.
a.
Preparation of applications and supporting documents for governmental
grants, loans or advances in connection with the project, preparation
or review of environmental assessments and impact statements; and
assistance in obtaining approvals of authorities having jurisdiction
over the anticipated environmental impact of the project.
b.
Providing renderings or models for City's use.
c.
Additional or extended services during construction made necessary by
(1) work damaged by fire or other cause during construction; (2)
prolongation of the contract time of any prime contract by more than
sixty (60) days; (3) acceleration of the work involving services on a
more rapid schedule than stated in Article III; (4) default by any
contractor; (5) failure of performance by either the City or contrac-
tor.
d.
Furnishing services of special consultants for other than the normal
civil, structural, mechanical and electrical engineering and normal
architectural design incidental thereto.
e.
Assist the client as expert witness in litigation arising from the
development or construction of the project and in hearings before
various approving and regulatory agencies.
f.
Preparing documents for alternate bids requested by the City for work
which is not executed or documents for out -of -sequence work.
g.
Preparation of operating and maintenance manuals, extensive assistance
in the utilization of any equipment or system, and training personnel
for operation and maintenance.
h.
Revision and redrafts of original contract drawings modified to
reflect as -built conditions. Mylar reproducibles of the as-builts
shall be provided for the City's files and use. The Architect shall
not be liable for use of such documents on other projects.
i.
Services resulting from significant changes in general scope of the
project or its design including, but not limited to, changes in size,
complexity and revisions of previously accepted studies, reports,
design documents, or contract documents when such revisions are due to
causes beyond the Architect's control.
j. The City may request the services of a resident project representative
and assistants or provide its own representative. If requested from
the Architect, they shall be selected, employed and directed by the
Architect in order to provide more extensive representation at the
project site during the construction phase. The duties and responsi-
bilities and the limitations on the authority of the resident project
representative and assistants will be set forth in an amendment and
made a part of this Agreement before such services begin. The Amend-
ment shall include a negotiated fee for these additional services.
Through more extensive on-site observations of the work in progress
and field checks of materials and equipment by the resident project
representative and assistants, the Architect shall endeavor to provide
further protection for the City against defects and deficiencies in
the work, but the furnishing of such resident project representation
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will not make the Architect responsible for construction means,
methods, techniques, sequences or procedures or for safety precautions
or programs, subject to the provisions of Article IV below.
ARTICLE II. TIME OF COMPLETION
a. The Architect will complete the phases of this contract within the
following times, not including additional services:
Phase A - Schematic Design - The Schematic Design shall be presented
o the city for approval within sixty (60) days after signing the
contract.
PhaseB - Design Develo ment - The Design Development shall be
presenhe Ci
y or approval within sixty (60) days following
Phase A approval.
Phase C - Contract Documents - The Contract Documents shall be
presen e o e y or approval within sixty (60) days following
Phase B approval.
Phase D - Biddin - Bidding work shall be completed within forty-five
ays o ow ng approval of Phase C.
b. The Architect's service under each phase of this contract shall be
considered complete when the City has accepted the report of work
under each of Phases A, B and C, or thirty (30) days after the date
when such submissions are delivered to the City for final acceptance
if no written response is received from the City within thirty (30)
days.
c. The construction phase shall commence with the execution of the first
prime construction contract and shall terminate upon written approval
by the Architect of final payment of the last prime contract to be
completed.
d. If the City requests significant modifications or changes in the scope
of the project, the time of performance of the Architect's services
shall be adjusted appropriately.
e. If suspension of work extends for more than one year for reasons
beyond the Architect's control, the rates of compensation provided in
this Agreement shall be subject to renegotiation.
ARTICLE III. GENERAL TERMS
1. This Agreement and each and every portion thereof shall be binding
upon the successors and assigns of the parties hereto. Provided,
however, that no assignment of this Agreement shall be made without
the prior written consent of all parties to this Agreement.
2. It is understood and agreed that the employment of the Architect by
the City for the purposes of said project shall be exclusive, but the
Architect shall have the right to employ such assistance as may be
required for the performance of the project. The Architect shall be
responsible for the compensation, insurance and all clerical detail
involved in their employment.
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3. It is informationeneeded d by hfor isaid hproject shalat all lsbenmade lavailable nbyg the
City upon request of the Architect. The City agrees to furnish all
reasonable assistance in the use of these records and files.
4. No party to this Agreement shall perform contrary to any state or
federal law nor ordinances of the City.
5. The Architect agrees to furnish to the City, upon termination of this
Agreement and payment of all monies due and upon demand by the City,
copies of all notes and sketches, charts, computations and any other
data prepared or obtained by the Architect pursuant to this Agreement,
without cost and without restriction or limitation as to their use.
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6. The Architect agrees to furnish to the City all reports and/or
drawings with the seal of a Professional Engineer or Architect affixed
thereto where such seal is required by law.
7. The City agrees to tender to the Architect all fees and money in
accordance with the schedule that follows, except that failure by the
Architect to satisfactorily perform in accordance with this Agreement
shall constitute grounds for the City to withhold payment in the
amount sufficient to properly complete the project in accordance with
this Agreement.
B. Should any section of this Agreement be found to be invalid, it is
agreed that all other sections shall remain in full force and effect
as though severable from the part invalid.
9. Records of the Architect's direct personnel expenses and reimbursable
expenses pertaining to the project and records kept by the Architect
of accounts between the City and the Contractor shall be kept on a
generally recognized accounting basis and shall be available to the
City at mutually convenient times.
10. Direct personnel expense is defined as the direct salaries of all the
Architect's personnel engaged on the project, and the portion of the
cost of their mandatory and customary contributions and benefits
related thereto, such as employment taxes and other statutory employee
benefits, insurance, sick leave, holidays, vacations, pensions and
similar contributions and benefits.
11. All reimbursable outside expenses shalt include actual expenditures
made by the Architect, his employees, or his consultants in the
interest of the project for the following incidental expenses listed:
a. Long distance calls and telegrams.
b. Travel expense upon written authorization by the City.
c. Expense of reproduction, postage and handling of drawings and
specifications, excluding copies for Architect's office use and
duplicate sets at each phase for the City's review and approval;
and fees paid for securing approval of authorities having juris-
diction over the project.
d. Fees paid by the Architect for special consultants employed with
City's approval.
12. The Architect shall have publication rights to all material produced
by the Architect and its consultants consistent with all applicable
legal requirements and shall be entitled to retain reproducible copies
of all work performed hereunder.
13. All documents including drawings and specifications prepared or
furnished by the Architect shall become the property of the City;
provided, however, any reuse without specific written verification or
adaptation by the Architect will be the City's sole risk and without
liability or legal exposure to the Architect. The City shall
indemnify and hold harmless the Architect from all claims, damages,
loss of expenses, including attorney's fees arising out of or result-
ing from reuse.
14. Approval by the City shall not be deemed to be an assumption of
responsibility and liability by the City for any defect in the
designs, working drawings and specifications or other documents
prepared by the Architect, their agents, employees and other subcon-
tractors, it being the intent of the parties that approval by the City
signifies the City approval of only the general design concept of the
improvements to be constructed.
15. The Architect shall not have control of and shall not be responsible
for construction methods, sequences or procedures, or for safety
precautions in connection with the work, for the acts or omissions of
the contractor, subcontractors or other persons performing any of the
work, or for the failure of any of them to carry out the work in
accordance with the contract documents. Although the Architect does
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not guarantee performance by the contractors and subcontractors,
nothing in this Agreement nor any language used in any contract in
connection with this project shall be construed as relieving the
Architect from the obligation to perform its duties under this
Agreement in a professional and competent manner.
16. The Architect or the City may terminate this contract upon seven (7)
days written notice. If the contract is terminated, the Architect
shall be paid on the basis of work satisfactorily completed under
Phases A, B, C and O and accepted by the City. The percentage of work
completed under each phase not yet accepted by the City shall be
determined mutually by the City and the Architect.
17. The Architect shall attend such meetings of the City relative to the
work set forth in this contract as may be requested by the City. The
City shall give reasonable notice of the meetings.
18. The Architect will secure and maintain such insurance as will protect
the Architect from claims under worker's compensation acts, claims for
damages because of bodily injury including personal injury or death of
its employees or of any person other than its employees for which it
is directly responsible and for claim for damages because of injury to
or destruction of tangible property including loss of use resulting
therefrom as well as professional liability insurance.
19. The construction cost shall be the total cost or estimated cost if
bids have not been received to the City of all elements of the project
designed or specified by the Architect. The construction cost shall
include at current market rates, including a reasonable allowance for
overhead and profit, the cost of labor and materials furnished by the
City and any equipment which has been designed, specified, selected or
specially provided for by the Architect. Construction cost does not
include the compensation of the Architect and the Architect's consult-
ants, the cost of the land, rights-of-way, or other costs which are
the responsibility of the City as defined in this Agreement.
ARTICLE IV. CITY'S RESPONSIBILITIES
The City shall be responsible for the performance and completion of the
following work items:
a. Provide full information as to the City's requirements for the
project.
b. Assist the Architect by placing at his disposal all available informa-
tion pertinent to the project including previous reports and any other
data relative to the construction of the project.
c. Furnish to the Architect soil testing data, legal descriptions, site
survey, and other information not provided under basic services of
this contract.
d. Guarantee access to and make all provisions for the Architect to enter
upon public or private property as required to perform services under
this contract.
e. Examine all studies, reports, sketches, drawings, specifications,
proposals and other documents presented by the Architect and render,
in writing, decisions pertaining thereto within a reasonable time so
as not to delay the services of the Architect.
f. Give prompt written notice to Architect whenever City observes or
otherwise becomes aware of defects in the project.
g. Furnish approvals and permits from all governmental authorities having
jurisdiction over the project and such approvals and consents from
others as may be necessary.
h. Furnish or direct the Architect to provide necessary additional
services as stipulated in this Agreement.
i. Bear all costs incident to compliance requirements of this section and
in obtaining bids or proposals from contractors.
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j. The City shall furnish structural, mechanical, chemical and other
laboratory tests, inspections and reports as required by law or the
contract documents.
ARTICLE V. COMPENSATION FOR SERVICES
1. The City agrees to pay the Architect for the services stipulated on the
basis of the following fees:
a. The Architect shall be compensated based on a percentage fee for
Phases A, B, C, D and E of 6.75% of the cost of new construction
and 8% of the cost of renovation. The compensation shall be
converted to a not -to -exceed fixed fee at the end of the schematic
design phase.
b. The Architect shall be compensated on the basis of direct personnel
expense times a multiplier of 2.5 for additional services, Phase F,
with a not -to -exceed fixed fee which is mutually agreed upon.
c. Reimbursable outside expenses shall be paid, based on the Archi-
tect's actual expenditures, at cost. When using privately owned
automobiles, costs shall be computed at 21 cents per mile.
2. The Architect's billing shall not exceed the following percentage of
the fixed fee:
Phase A - Schematic Design - 20%
Phase B - Design Development - 20%
Phase C - Contract Documents - 40%
Phase D - Bidding - 2%
Phase E - Administration of Construction Contracts - 18%
3. The fee for Phases A, B, C, D, E and F does not include reimbursable
costs. The City will pay the Architect the actual cost of all
reimbursable expenses.
4. If the Architect performs work on this project prior to the execution
of this contract, monies expended in this interim period shall be
included in the fee listed above.
5. Fees will be due and payable monthly. Accompanying each monthly fee
statement, the Architect shall provide a short narrative describing the
project status.
6. All provisions of the Agreement where not specifically defined shall be
reconciled in accordance with the highest ideals of the architectural
profession and those professional ideals as established in the July,
1978 edition of the Code of Ethics and Professional Conduct, AIA Doc.
No. J330.
ARTICLE VII. AUTHORIZATION NOTICE
The City warrants that it is fully authorized by Section 20-20(9) of the
Municipal Code of Iowa City to contract with the Architect under this
Agreement. The City further warrants (1) that it has satisfied bidding
and other legal preconditions to consummating this Agreement as a binding
contract between the parties; and (2) that the City has funds which are
currently available and duly allocated to fulfill the City's financial
obligations under this Agreement.
ARTICLE VIII. ENTIRE AGREEMENT
This agreement embodies the entire agreement between the Architect and the
City. The parties represent that in entering into this Agreement, they do
not reply upon any previous oral or implied representation, inducements or
understanding of any kind or nature.
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ARTICLE IX. BENEFIT OF AGREEMENT
This Agreement is binding upon and shall inure to the benefit of the
parties hereto and their heirs, successors, and permitted assigns.
ARTICLE XI. VENUE
Venue of any suit or cause of action under this contract shall lie in
Johnson County, Iowa.
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IN WITNESS WHEREOF, the parties hereby have executed th' greement
in triplicate originals on this date, the E ', day of
1985.
i FOR THE CITY OF IOWA CITY HANSEN LIND MEYER, P.C.
yor (ist/ rinc pa
City Clerk Pr ncipal
STATE OF IOWA )
SS:
COUNTY OF JOHNSON )
On this 16th day of October 1985, before me, a Notary Public
i duly comm -Ts -stoned and qualified in an or said County and State, person-
ally appeared John McDonald , Mayor of the City of Iowa City,
E and identical �ff eac eing to flieoregoing
personally known to be
the persons an o tcers named in the foregoing instrument, who
executed the same under and by virtue of the authority vested in them by
the City Council of said City, and each for himself acknowledged the
execution thereof to be his voluntary act and deed for purposes herein
expressed.
IN TESTIMONY WHEREOF, I have hereunto set my hand and notarial seal at
Iowa City, Iowa, the day and year last above written.
'Nciublic to anG Tor Johnson County,
Iowa
STATE OF IOWA )
SS:
COUNTY OF JOHNSON )
On this day of of -wv 1985, before me, the
undersigned, a Notary Pubpli��c� in and for said Cqunt and State, personally
appeared (M^ goys e l�F71R. and E. (i to me er
' known, ho�-Ubetng y e u y'sworn, say is iey are the
and respectively, of said corporation; t a no sea
has een pros red by the said) (the seal affixed thereto is the seal of
said) corporation; that said instrument was signed and sealed on behalf of
said orporation by authority of its Board of Directors; and that the said
and P_,_._n_CiI40 0 as such officers acknowl-
e ge a ex cu on of saidins�men o De e voluntary act and deed of
said corporation, by it and by them voluntarily executed.
fA1a"t/dao10 ub c n an
nson �oun
iy,
Iowa
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October 16, 1985
The Finance Director of Iowa City, Iowa, met in her office
in the Civic Center, Iowa City, Iowa, at 11:00 o'clock a.m., on
the above date, to open sealed bids received and to refer the
sale of the bonds to the best and most favorable bidder for
cash, subject to approval by the City Council at its meeting to
be held this afternoon.
The following persons were present at said meeting:
_Finance Director Rosemary Vitosh: Atty. Ken Haynie;
Financial Advisor Wayne Buraaraaff; City Clerk Marian Karr;
_City Manager Neal Berlin: Asst. Finance Director Kevin
O'Malley; Senior Acct. Terry Kimble; Councilmember Ernie Zuber
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This being the time and place for the opening of said bids
for the sale of not to exceed $4,700,000 General obligation
Bonds, the meeting was thrown open for the receipt of bids for
said bonds.
Sealed bids were filed and listed in the minutes while
unopened, as follows:
Name & Address of Bidders:
Harris Trust and Savings Bank & Associates
First National Bank of Chicago & Associates
Northern Trust Company & Associates
Continential Illinois National Bank & Trust of Chicago & Associates
Whereupon, the Finance Director opened the sealed bids
received, and the best sealed bid was as follows:
Name & Address of Bidder: First National Rank of Chicago & Associates
Net Interest Rate: 7.533903
Net Interest Cost: $2.139,628.50
Thereafter the undersigned has awarded the sale of the
bonds to said bidder in accordance with said bid on said
issue, subject to approval by the City Council.
iJQe J -e 7!ee. J
City Clerk
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A 1 Co . '"I.. S .Ih { Alpw. U..m. M AIdM. bx.
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October 16, 1985
The City Council of Iowa City, Iowa, met in special
session, in the Council Chambers, Civic Center, Iowa City,
Iowa, at 4:45 o'clock P.M., on the above date. There were
present Mayor McDonald , in the chair, and the
following named Council Members:
Ambrisco, Dickson, McDonald, Zuber
Absent: Baker, Strait, Erdahl
ANM Cm . Wr*WMt hot. S th i XWm I.w m Dn Abirc,, bn
P-
M -
Zuber introduced the following
Resolution entitled "RESOLUTION TO APPROVE THE ACTION OF THE
FINANCE DIRECTOR IN THE SALE OF $4,700,000 GENERAL OBLIGATION
BONDS," and moved its adoption. Dickson
seconded the motion to adopt. The roll was called and the
vote was,
AYES: Dickson McDonald Zuber. Ambrisco
Absent: Baker Erdahl Strait
NAYS: None.
Whereupon, the Mayor declared the following Resolution
duly adopted: 85-305
RESOLUTION TO APPROVE THE ACTION OF THE
FINANCE DIRECTOR IN THE SALE OF $4,700,000
GENERAL OBLIGATION 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 was determined by the Finance
Director and said bonds were awarded as follows:
$4,700,000 GENERAL OBLIGATION BONDS:
Bidder: of
the terms of said bid being:
SEE MACHED
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITY, IOWA:
i
rim+,. slim L ,uiw,. W. m
/00
October 16, 1985
BID FORM - $4,700,000 GENERAL OBLIGATION BONDS
Members of
the City Council
Sale
Date: October 16, 1985
Iowa City,
Iowa
Dated: November 1, 1985
Due:
May 1, 1987/1996
Members of
the City Council:
For all or none of the principal
amount
of $4,700,000 General
Obligation
Bonds of your City, legally
issued
and as described in the
Notice of
Bond Sale, we will pay the City
4L lof9 6S9,ea
Dollars (not
less than $4,653,000 ) plus accrued interest on the total
principal
amount of $4,700,000 to date
of delivery,
provided the Bonds
bear interest ag the following rates:
Interest
Interest
Year
Amount Rate
Year
Amount Rate
1987
$450,000 $,SO 8
1992
$475,000 9,30 9
1988
450,000 x.00 8
1993
475,000 9,Sy 8
1989
475,000 ;i0 8
1994
475,000 1,10 8
1990
475,000 &J90 8
1995
475,000 9.q0 8
1991
475,000 -1,10 8
1996
475,000 140 _%
We enclose, herewith, a -Afff*KkRc AF cashier's check in the amount of
$94,000 payable to the City.
NOT PART OF THE BID Respectfully submitted,
Explanatory Note: According
to our computation,.this bid The First National Bank of Chicago
involves the following: Syn icate Manager
Net Interest Cost BY _V
IS -33103 0/0 (A list of the firms associated
Net Interest Rate with us in this bid is on the
;f
hereby
the a
_4faith Qi
receipt
d good
reverse side of this proposal.)
f t t f•• R• f R• R }! R R
The foregoing offer is hereby
accepted by and on behalf of
the City of Iowa City, Iowa,
th&s 16th day of October, 1985.
F ty o Iowa City
City or Iowa city
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Section 1. That the bid for the bonds as above set out
was determined by the Finance Director to be the best and most
favorable bid received and, said action by said Finance
Director is hereby ratified and confirmed.
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 Finance Director 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 Finance Director done in
furtherance of the sale of said bonds are hereby ratified and
approved.
PASSED AND APPROVED, this 16th day of October ,
1985.
Mayor
ATTEST:
Finance Dir for
C'?)7-1 a le��
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MIM, Cm , Oo 1" 14ynk S Ih a AlIbm UM Oe. Altlrrti, loxa
/493
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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 16th day of October , 1985.
SEAL
Cit Clerk, Iowa City, Iowa
AhknCw ..Op 1n IWn S %aAr^U�M10.s Win, by
/e93
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NOTICE OF BOND SALE
Time and Place of Sale: Sealed bids will
Ye received at the office of the Finance
Director, Civic Center, Iowa City, Iowa,
until 11:00 o'clock A.M. on the 16th day
of October, 1985, for the bonds herein-
after described. At the hour above named
all sealed bids which have been received
will be referred to the Finance Director
for action by her at a public meeting then
to be held in the Council Chambers. Sealed
bids will be received until the Finance
Director declares the time for the filing
of sealed bids to be closed. The sealed
bids will be opened and the bonds will
then be sold by the Finance Director,
subject to approval by the City Council at
itsmeeting to be held at 4:45 o'clock
P.M. on said date in the Council Chambers
in the Civic Center to the best and most
favorable bidder for cash.
The Bonds. The bonds to be offered are
the foTTowing:
GENERAL OBLIGATION BONDS, in the
principal amount of $4,700,000, to be
dated November 1, 1985, in the
denomination of $5,000 or multiples
thereof, and to mature as follows:
Principal Maturity
Amount May 1st
E 450,000 1987
E 450,000 1988
$ 475,000 1989
$ 475,000 1990
475,000 1991
$ 475,000 1992
$ 475,000 1993
$ 475,000 1994
E 475,000 1995
$ 475,000 1996
$4,700,000
Optional Redemption: All of said
bonds due after May 1, 1993, will
be subject to call prior to
maturity in whole or from time to
time in part, in inverse order of
maturity and within a maturity by
lot on said date or on any date
10-4
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NOTICE OF BOND SALE
Time and Place of Sale: Sealed bids will
Ye received at the office of the Finance
Director, Civic Center, Iowa City, Iowa,
until 11:00 o'clock A.M. on the 16th day
of October, 1985, for the bonds herein-
after described. At the hour above named
all sealed bids which have been received
will be referred to the Finance Director
for action by her at a public meeting then
to be held in the Council Chambers. Sealed
bids will be received until the Finance
Director declares the time for the filing
of sealed bids to be closed. The sealed
bids will be opened and the bonds will
then be sold by the Finance Director,
subject to approval by the City Council at
itsmeeting to be held at 4:45 o'clock
P.M. on said date in the Council Chambers
in the Civic Center to the best and most
favorable bidder for cash.
The Bonds. The bonds to be offered are
the foTTowing:
GENERAL OBLIGATION BONDS, in the
principal amount of $4,700,000, to be
dated November 1, 1985, in the
denomination of $5,000 or multiples
thereof, and to mature as follows:
Principal Maturity
Amount May 1st
E 450,000 1987
E 450,000 1988
$ 475,000 1989
$ 475,000 1990
475,000 1991
$ 475,000 1992
$ 475,000 1993
$ 475,000 1994
E 475,000 1995
$ 475,000 1996
$4,700,000
Optional Redemption: All of said
bonds due after May 1, 1993, will
be subject to call prior to
maturity in whole or from time to
time in part, in inverse order of
maturity and within a maturity by
lot on said date or on any date
10-4
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thereafter at the option of the
Issuer, upon terms of par plus
accrued interest to date of call.
Interest: Interest on said bonds
will be payable on May 1, 1986,
and semiannually on the 1st day of
November and May thereafter.
Principal and interest will be
payable to the office of the City
Controller.
Registration: The above bonds will be
issued in registered form as to principal
and interest. The Issuer has designated
the City Controller of Iowa City, Iowa, as
the initial Registrar. Payments will be
made by check mailed to the address of the
owner of the bond as of the record date as
shown by the records of the Registrar.
Payment of principal will be made upon
surrender of the Bond. The Issuer will
furnish at its expense to each named owner
one bond for each annual maturity.
Additional bonds in lesser denominations
will be furnished if an owner so requests.
Not more than fifteen (15) days after the
bond sale date the purchaser shall notify
the Registrar of the names and tax identi-
fication numbers of registered owners to
be shown at the initial delivery of the
bonds, showing principal amounts for each
annual maturity. Otherwise the bonds will
be registered in the name of the bidder or
in the name of the first participant
listed in the bid.
Bid Security: All bids shall be accompa-
nied by a certified check or a cashier's
check drawn upon a solvent bank doing
business in the United States, in favor of
the City, in the amount of $94,000. The
good faith check of the successful bidder
will be deposited at the time of award and
deducted from the purchase price at the
time of closing. If the bidder to whom
the bonds are awarded withdraws its bid or
fails to complete the purchase in accor-
dance with the terms hereof, the Issuer
shall have the right in its sole discre-
tion to elect to treat the bid security
either as liquidated damages or as a
credit against the Issuer s claim for
/893
3
actual damages occasioned thereby. Checks
of unsuccessful bidders will be returned
promptly.
Form of Bids: All bids shall be uncondi-
tional except as provided in this notice,
for an entire issue of bonds for a price
not less than 99 percent of par, plus
accrued interest, and shall specify the
rate or rates of interest in conformity to
the limitations of the following para-
graph. Bids must be submitted on or in
substantial compliance with the official
bid form provided by the Issuer. The
bonds will be awarded to the bidder
offering the lowest interest cost, which
will be determined by aggregating any
permissible discount, if any, with the
interest payable by the Issuer over the
life of the bonds in accordance with the
terms of each bid presented, and deducting
therefrom the premium, if any, stipulated
in said proposal.
Rates of Interest: The rates of interest
specified in the bidder's proposal must
conform to the limitations following:
1. All bonds of each annual maturity must
bear the same interest rate.
2. Rates of interest bid must be in
multiples of one-eighth or
one -twentieth of one percent.
3. Each rate of interest specified for
bonds of any annual maturity shall not
be less than a rate of interest
specified for any earlier maturity.
Deliver The bonds will be delivered,
without expense to the purchaser at any
mutually acceptable bank and trust company
anywhere in the continental United States,
against full payment in immediately
available cash or federal funds. The
bonds are expected to be delivered within
thirty days after the sale. Should
delivery be delayed beyond sixty days from
date of sale for any reason except failure
of performance by the purchaser, the
purchaser may withdraw his bid and
thereafter his interest in and liability
for the bonds will cease. (When the bonds
are ready for delivery, the Issuer may
4
give the successful bidder five working
days notice of the delivery date and the
Issuer will expect payment in full on that
date, otherwise reserving the right at its
option to determine that the bidder has
failed to comply with the offer of
purchase.)
CUSIP Numbers: It is anticipated that
CUSIPnumb will be printed on the
bonds. In no event will the Issuer be
responsible for or Bond Counsel review or
express any opinion of the correctness of
such numbers, and incorrect numbers on
said bonds shall not be cause for the
purchaser to refuse to accept delivery of
said bonds.
Legal Opinion: Said bonds will be sold
subject to the opinion of the Ahlers,
Cooney, Dorweiler, Haynie, Smith & Allbee,
Attorneys of Des Moines, Iowa, as to the
legality and their opinion will be
furnished together with the printed bonds
without cost to the purchaser and all bids
will be so conditioned. Except to the
extent necessary to issue their opinion as
to the legality of the bonds, the attor-
neys will not examine or review or express
any opinion with respect to the accuracy
or completeness of documents, materials or
statements made or furnished in connection
with the sale, issuance or marketing of
the bonds. The opinion will be printed on
the back of the bonds.
R'ii hts Reserved: The right is reserved to
refect any or all bids, and to waive any
irregularities as deemed to be in the best
interest of the public.
By order of the City Council of the City
of Iowa City, Iowa.
eCT Aot `n ei;71t�YaV2
Iowa City, Iowa
/PU
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EVENSEN DODGE, INC.
LI N A N C I A L CON5U L:ANt5
TABULATION OF BIDS $4,700,000 General Obligation Bonds
, Iowa
Dated: November 1, 1985 Due: May 1, 1987/96y of Iowa Bondy Years: 28,400.000
Average Life: 6.04 Splits: 10 Price: Not less than $4,653,000.00
SALE DATE: Wednesday, October 16, 1985 BBI - 9 25
BIDDERS
ADDRESS
YEAR
RATE
YIELD
Z HARRIS TRUST AND SAVINGS BANK
Chicago
1987
5.40
NORWEST INVESTMENT SECURITIES
1988
6.00
PRICE
SERVICE, INC.
Bear, Stearns 6 Co.
Des Moines
1989
6.50
$ 4.654.504 00
Becker 4 Cownie, Inc.
Chicago1990
Des Moines
1991
6.80
7.10
InterFirst Bank Dallas, N.A.
Dallas
1992
7.25
NIC
Mahon, Nugent E Co.
American National Bank
New York
1993
7.50
$ 2.143.496.00
and Trus[ Company of Chicago
Chicago
1994
1995
7.70
7.85
Croake Roberts, Inc.
Chicago
1996
8.00
NIR
-
The First National Bank and
Trust Company
Oklahoma City
7.5475%
Sauerman Securities Inc.
Chicago
Securities Corporation of Iowa
Cedar Rapids
1. THE FIRST NATIONAL BANK
1987
5.50
5.50
PRICE
OF CHICAGO
Chicago
1988
6.00
6.00
DEAN WITTER REYNOLDS, INC.
PAINEWEBBER INC.
Chicago
1989
6.50
6.50
$ 4.6 7.8 9 00
SHEARSON LEHMAN BROTHERS, INC.
Chicago
Chicago
1990
1991
6.80
6.80
Hutchinson, Shockey, Erley d Co.
Chicago
1992
7.10
7.30
7.00
7.30
NIC
Van Kampen Merritt Inc.
Stifel, Nicolaus d Co. Inc.
Chicago
1993
7.50
7.50
L2.112-628.00
Charmer Newman Securities
St. Louis
1994
7.70
7.70
Div. of The Illinois Co. Inc.
Chicago
1995
1996
7.90
7.90
NIR
Bacon, Whipple, Division of
7.90
8.10
Stifel, Nicolaus, Inc.
Chicago
7,513903%
United Missouri Bank of Kansas
City, N.A.
Kansas City
Piper, Jaffray d Hopwood, Inc.
Minneapolis
M. H. Novick 6 Company
Minneapolis
3608 IDS Tower. Minneapolis Minnesota 55402 612/338.3535 800/328-8200 800/328-81DO Minnesota
IA27.85A/2 /Irfj
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BIDDERS
ADDRESS
YEAR
RATE
YIELD
3 THE NORTHERN TRUST COMPANY
Chicago
1987
5.60
PRICE
MERRILL LYNCH WHITE WELD
1988
6.10
CAPITAL MARKETS GROUP
Chicago
1989
6.60
$ 4.662.967.00
E. F. HUTTON d CO., INC.
Chicago
1990
6.90
GOLDMAN, SACHS 6 CO.
Chicago
1991
7.10
NIC
CLAYTON BROWN 8 ASSOCIATES
Chicago
1992
7.30
DAIN BOSWORTH, INC.
Minneapolis
1993
7.50
2,145.108.00
Centerre Bank, N.A.
Kansas City
1994
7.70
Shaw, McDermott 6 Co.
Des Moines
1995
7.90
NIR '
Dougherty, Dawkins, Strand
1996
8.00
8 Yost, Incorporated
Minneapolis
7.55319%
A.C. Edwards d Sone, Inc.
St. Louis
i
Laidlaw, Adams d Peck, Inc.
New York
1
Stern Brothers 6 Co.
Kansas City
Merchants National Bank d
i
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- Trust Co.
I
Indianapolis
1
(� CONTINENTAL ILLINOIS NATIONAL
1987
5.75
PRICE
i
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BANK 6 TRUST CO. OF CHICAGO
Chicago
1988
6.25
-.
PRUDENTIAL-BACHE SECURITIES, INC.
Chicago
1989
6.70
S 4,653,047. 0
PAINEWEBBER, INC.
Lincoln
1990
6.90
?
LaSalle National Bank
Chicago
1991
7.10
NIC
Commerce Bank of Kansas City,
1992
7.30
-
N.A.
Kansas City
1993
7.50
S 2,164-378- 00
Griffin, Kubik, Stephens 8
1994
7.70
Thompson, Inc.
Chicago
1995
7.90
NIR
The Chicago Corporation
Chicago
1996
8.10
Robert W. Baird d Company, Inc.
Milwaukee
7.621049%
Aid Securities, Inc.
Des Moines
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IOWA CITY CITY COUNCIL
SPECIAL MEETING
October 16, 1985 4:45 P.M.
COUNCIL CHAMBERS
Item No. 1 - MEETING TO ORDER.
ROLL CALL.
Item No. 2 - CONSIDER RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY
CLERK TO ATTEST AN AGREEMENT WITH HANSEN LIND MEYER, P.C., FOR
ARCHITECTURAL/ENGINEERING SERVICES FOR A NEW ADDITION TO AND
ALTERATION OF THE IOWA CITY CIVIC CENTER.
Comment: Hansen Lind Meyer, P.C., is the firm selected by the respective
committees to provide A&E services for both the new construction
and the remodeling projects.' The agreement provides for a not -
to -exceed fixed fee of 6.75% of the cost of new construction and
8% of the cost of the remodeling. A copy of the agreement is
attached to the resolution.
Action:
Item No. 3 - CONSIDER RESOLUTION TO APPROVE THE ACTION OF THE FINANCE DIRECTOR
IN THE SALE OF $4,700,000 GENERAL OBLIGATION BONDS.
Comment: This resolution ratifies and confirms the actions of the Finance
Director in the determination of the best and most favorable bid
which was received on October 16, 1985, at 11:00 A.M. on the
$4,700,000 General Obligation Bonds issue.
Action:
Item No. 4 - CONSIDER RESOLUTION TO APPROVE THE ACTION OF THE FINANCE DIRECTOR
IN THE SALE OF $4,055,000 PARKING SYSTEM REVENUE BONDS.
Comment: This resolution ratifies and confirms the actions of the Finance
Director in the determination of the best and most favorable
bid which was received on October 16, 1985, at 11:00 A.M. on
the $4,055,000 Parking Revenue Bond issue.
Action:
/8f3
ORIGINAL
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Iowa City, Iowa.
Date of Meeting: October 16, 1985
Time of Meeting: 4:45 p.m.
Place of Meeting: Council Chambers, Civic Center, Iowa City,
Iowa.
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:
$4,700,000 General Obligation Bonds
- Resolution to approve the action of the Finance
Director in the sale of said bonds.
Such additional matters as are set forth on the addi-
tional 2 pages(s) attached hereto.
(number)
This notice is given at the direction of the Mayor
pursuant to Chapter 21, Code of Iowa, and the local rules of
said governmental body.
City Clerk, Iowa City, Iowa
AmM' CO ' KIK IV1 1.. Y Ih A -1Y .. Iw' " O MP ' b
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October 16, 1985
The Finance Director of Iowa City, Iowa, met in her office
in the Civic Center, Iowa City, Iowa, at 11:00 o'clock a.m., on
the above date, to open sealed bids received and to refer the
sale of the bonds to the best and most favorable bidder for
cash, subject to approval by the City Council at its meeting to
be held this afternoon.
The following persons were present at said meeting:
Finance Director Rosemary Vitosh• Atty. Ken Haynie;
Financial Advisor Wayne Burggraaff; City Clerk Marian Karr
City Manager Neal Berlin• Asst. Finance Director Kevin
O'Malley; Senior Acct. Terry Kimble; Councilmember Ernie Zuber.
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Mien Ca , Oo—w t N,e 5.6 a M"
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This being the time and place for the opening of said bids
for the sale of not to exceed $4,055,000 Parking System Revenue
Bonds, the meeting was thrown open for the receipt of bids for
said bonds.
Sealed bids were filed and listed in the minutes while
unopened, as follows:
Name & Address of Bidders:
Clayton Brown & Associates
John Nuveen & Co. Incorporated & Associates
Whereupon, the Finance Director opened the sealed bids
received, and the best sealed bid was as follows:
Name & Address of Bidder: John Nuveen & Co. Incorporated & Associates
Net Interest Rate: 9.7813
Net Interest Cost: $4,357,601.67
Thereafter the undersigned has awarded the sale of the
bonds to said bidder in accordance with said bid on said
issue, subject to approval by the City Council.
City Clerk
-2-
µyn. Ce ' D ..t" ".. 5-m L Ml ..
1
This being the time and place for the opening of said bids
for the sale of not to exceed $4,055,000 Parking System Revenue
Bonds, the meeting was thrown open for the receipt of bids for
said bonds.
Sealed bids were filed and listed in the minutes while
unopened, as follows:
Name & Address of Bidders:
Clayton Brown & Associates
John Nuveen & Co. Incorporated & Associates
Whereupon, the Finance Director opened the sealed bids
received, and the best sealed bid was as follows:
Name & Address of Bidder: John Nuveen & Co. Incorporated & Associates
Net Interest Rate: 9.7813
Net Interest Cost: $4,357,601.67
Thereafter the undersigned has awarded the sale of the
bonds to said bidder in accordance with said bid on said
issue, subject to approval by the City Council.
City Clerk
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µyn. Ce ' D ..t" ".. 5-m L Ml ..
October 16, 1965
The City Council of Iowa City, Iowa, met in special
session, in the Council Chambers, Civic Center, Iowa City,
Iowa, at 4:45 o'clock P.M., on the above date. There were
present Mayor McDonald _, in the chair, and the
following named Council Members:
Ambrisco, Dickson. McDonald, Zuber
Absent: Baker, Strait. Erdahl
-1- pp(�
.wM. Cir. FUl s ffi & AlbM W.
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October 16, 1965
The City Council of Iowa City, Iowa, met in special
session, in the Council Chambers, Civic Center, Iowa City,
Iowa, at 4:45 o'clock P.M., on the above date. There were
present Mayor McDonald _, in the chair, and the
following named Council Members:
Ambrisco, Dickson. McDonald, Zuber
Absent: Baker, Strait. Erdahl
-1- pp(�
.wM. Cir. FUl s ffi & AlbM W.
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October 16, 1965
The City Council of Iowa City, Iowa, met in special
session, in the Council Chambers, Civic Center, Iowa City,
Iowa, at 4:45 o'clock P.M., on the above date. There were
present Mayor McDonald _, in the chair, and the
following named Council Members:
Ambrisco, Dickson. McDonald, Zuber
Absent: Baker, Strait. Erdahl
-1- pp(�
.wM. Cir. FUl s ffi & AlbM W.
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Ambrisco introduced the following
Resolution entitled "RESOLUTION TO APPROVE THE ACTION OF THE
FINANCE DIRECTORaIN
THE SAL OF $4,055,000 PARKING SYSTEM
option
REVENUE BOND.,
seconded the motion to adopt. The roll was called and the
vote was,
AYES: McDonald Zuber Ambrisco Dickson
Absent: Baker,
NAYS: None.
Whereupon, the Mayor declared the following Resolution
duly adopted: 85-306
RESOLUTION TO APPROVE THE ACTION OF THE
FINANCE DIRECTOR IN THE SALE OF $4,055,000
PARKING SYSTEM REVENUE BONDS
WHEREAS, pursuant to notice as required by law, bids have
been received at public sale for the bonds described as
Directorllows andsaidbondswere
and
the
best
bid
received
awardedwas
asdetermined
by the Finance
$4,055,000 PARKING SYSTEM REVENUE BONDS:
Bidder: of
the terms of said bid being:
SEE ATTAM
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF IOWA CITYr IOWA:
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Ahlen. CowMt Oorveiln lbot Wth t Nlbre. I.w�n Dn AIdrc4 Ian
BID FOR14 - $3,855,000 PARKING SYSTEM REVENUE BONDS
Members of the City Council Sale Date: October 16, 1985
Iowa City, Iowa Dated: November 1, 1985
Due: July 1, 1986/2003
Members of the City Council:
For all or none of the principal amount of $3,855,000* Parking System
Revenue Bonds of your City, legally issued and as described in the
Notice of Bond Sale, we will pay the City9d$414,�
Dollars (not less than $3,787,550) plus accr3nterest on the total
principal amount of $3,855,000 to date of delivery, provided the Bonds
bear interest at the following rates:
Interest Interest Interest
Year Amount ppRate Year Amount Rate Year Amount Rate
1986 $ 70,000* 0.9 X 1992 $155,000* 8 0 X 1998 $260,000* .90 X
1987 105,000* X 1993 170,000*a �1999 290,000* y. 0 X
1988 110,000* 1994 185,000* 2000 320,000* cl.Qd X
1989 115,000 1995 200,000* D 1 /0,00 X
1990 125,000* .T X 1996 220,000* 4)..f 2002 380,000 1,1.00
1991 140000* S
.S0 X 1997 235,000* 9,a X 2003 425,000* /UcC %
We enclose, herewith, a certified or cashier's check in the amount of
$77,100 payable to the City.
NOT PART OF THE BID Respectfully submitted,
Explanatory Note: According
to our computation, this bid
involves the following:
$ 4, 35 7 60% b?
Net Interest C3sF
9, 78/3 �Io
Net Interest Rate
i I
I hereby ackno edge receipt
of the above- scribed good
faith check.
JOHN WYEEN & CO. INCORPORATED
Syndi,a QManager
By ei
Paul E. Greenawalt, Vice President'
(A list of the firms associated
with us in this bid is on the
reverse side of this proposal.)
The foregoing offer is hereby
accepted by and on behalf of
the City of Iowa City, Iowa,
Is 16th day of October, 1985.98
ity or Iowa City
City of Iowa City
M
SIF.'
BID FOR14 - $3,855,000 PARKING SYSTEM REVENUE BONDS
Members of the City Council Sale Date: October 16, 1985
Iowa City, Iowa Dated: November 1, 1985
Due: July 1, 1986/2003
Members of the City Council:
For all or none of the principal amount of $3,855,000* Parking System
Revenue Bonds of your City, legally issued and as described in the
Notice of Bond Sale, we will pay the City9d$414,�
Dollars (not less than $3,787,550) plus accr3nterest on the total
principal amount of $3,855,000 to date of delivery, provided the Bonds
bear interest at the following rates:
Interest Interest Interest
Year Amount ppRate Year Amount Rate Year Amount Rate
1986 $ 70,000* 0.9 X 1992 $155,000* 8 0 X 1998 $260,000* .90 X
1987 105,000* X 1993 170,000*a �1999 290,000* y. 0 X
1988 110,000* 1994 185,000* 2000 320,000* cl.Qd X
1989 115,000 1995 200,000* D 1 /0,00 X
1990 125,000* .T X 1996 220,000* 4)..f 2002 380,000 1,1.00
1991 140000* S
.S0 X 1997 235,000* 9,a X 2003 425,000* /UcC %
We enclose, herewith, a certified or cashier's check in the amount of
$77,100 payable to the City.
NOT PART OF THE BID Respectfully submitted,
Explanatory Note: According
to our computation, this bid
involves the following:
$ 4, 35 7 60% b?
Net Interest C3sF
9, 78/3 �Io
Net Interest Rate
i I
I hereby ackno edge receipt
of the above- scribed good
faith check.
JOHN WYEEN & CO. INCORPORATED
Syndi,a QManager
By ei
Paul E. Greenawalt, Vice President'
(A list of the firms associated
with us in this bid is on the
reverse side of this proposal.)
The foregoing offer is hereby
accepted by and on behalf of
the City of Iowa City, Iowa,
Is 16th day of October, 1985.98
ity or Iowa City
City of Iowa City
M
l�^
Section 1. That the bid for the bonds as above set out
was determined by the Finance Director to be the best and most
favorable bid received and, said action by said Finance
Director is hereby ratified and confirmed.
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 Finance Director 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 Finance Director done in
furtherance of the sale of said bonds are hereby ratified and
approved.
PASSED AND APPROVED, this 16th day of October
1985.
Mayor
ATTEST:
Finance Ditlector
LI ty Clerk
A�m Cu ,, Dor 1" lytic, 5m 6 MU,, IrMeM1 On Male. bn
Section 1. That the bid for the bonds as above set out
was determined by the Finance Director to be the best and most
favorable bid received and, said action by said Finance
Director is hereby ratified and confirmed.
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 Finance Director 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 Finance Director done in
furtherance of the sale of said bonds are hereby ratified and
approved.
PASSED AND APPROVED, this 16th day of October
1985.
Mayor
ATTEST:
Finance Ditlector
LI ty Clerk
A�m Cu ,, Dor 1" lytic, 5m 6 MU,, IrMeM1 On Male. bn
CIG -3
4-85
CERTIFICATE
_ STATE OF IOWA ) -
SS
COUNTY OF JOHNSON
i
-- 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, I
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 16th day of October 1985.
ty Clerk, Iowa City, Iowa
SEAL
i
i
i
i
( AM,n Car . I .In ,".. 5M1h 6 Atl . tM l O WH , bm My
I : 7
A
$3,795,000 PARKING SYSTEM REVENUE BONDS
CITY OF IOWA CITY, IOWA
JOHNSON COUNTY, IOWA
SALE DATE: OCTOBER 16, 1985
Proceeds of this Bond sale will provide the City with the funds to defease the
City's $5,200,000 Parking Facilities Revenue Bonds, Series 1978 (the refunded
bonds). The outstanding principal balance on the refunded bonds is $4,730,000.
The proceeds of the bonds together with $148,000 of cash provided by the City
will be used to purchase securities to fund an escrow account which will defease
the old bonds. The primary purpose of the refunding is to remove a restrictive
covenant in the bond resolution of the refunded bonds which requires that the
net revenues of the City's parking facilities be at least 150% of the.annual
debt service requirements on the bonds. The resolution for the refunding bonds
will require only a 125% coverage requirement. The primary purpose of the re-
funding is to remove the restrictive covenant, however the City will also achieve
a net savings of $48,551 in debt service costs over the term of the issue.
The lower coverage requirement of 125% will lower revenue requirement by approxi-
mately $150,000 annually. Should the City construct another downtown parking
facility in the future, annual revenue requirements could be reduced by up to
$300,000. These lower revenue requirements will impact. significantly on the City's
ability to keep parking fees as low as possible in the future.
I a�
NOTICE OF BOND SALE
Time and Place of Sale: Sealed bids will
e receive at the office of the Finance
Director, Civic Center, Iowa City, Iowa
until 11:00 o'clock A.M. on the 16th day
of October, 1985, for the bonds herein-
after described. At the hour above named
all sealed bids which have been received
will be referred to the Finance Director
for action by her at a public meeting then
to be held in the Council Chambers. Sealed
bids will be received until the Finance
Director declares the time for the filing
of sealed bids to be closed. The sealed
bids will be opened and the bonds will
then be sold by the Finance Director,
subject to approval by the City Council at
its meeting to be held at 4:45 o'clock
P.M. on said date in the Council Chambers
in the Civic Center to the best and most
favorable bidder for cash.
The Bonds. The bonds to be offered are
t e o owing:
PARKING SYSTEM REVENUE BONDS, in the
maximum principal amount of
$4,055,000, to be dated November 1,
1985, in the denomination of $5,000
or multiples thereof, and to mature
as follows:
Principal Maturity
Amount* July 1st
$ 70,000 1986
$ 105,000 1987
$ 110,000 1988
$ 115,000 1989
$ 125,000 1990
$ 140,000 1991
$ 155,000 1992
$ 170,000 1993
$ 185,000 1994
$ 200,000 1995
$ 220,000 1996
$ 235,000 1997
$ 260,000 1998
$ 290,000 1999
$ 320,000 2000
$ 350,000 2001
$ 380,000 2002
$ 425 000 2003
X855,060
Page 2
*The City reserves the right to
increase the issue size by no more
than $200,000 on the day of sale. If
the issue size is adjusted, the
purchase price will be adjusted
proportionately, and no single
maturity will be adjusted by more
than $20,000
Optional Redemption: All of said
bonds due after July 1, 1995, will
be subject to call prior to
maturity in whole or from time to
time in part, in inverse order of
maturity and within a maturity by
lot on said date or on any
interest payment date thereafter
at the option of the Issuer, upon
terms of par plus accrued interest
to date of call.
Interest: Interest on said bonds
will be payable on July 1, 1986,
and semiannually on the 1st day of
January and July thereafter.
Principal and interest will be
payable at the office of the City
Controller.
Parity Bonds: The City reserves the
right and privilege to issue addi-
tional revenue bonds from time to
time payable from the same source,
ranking on a parity with the bonds
herein authorized, in order to pay
the cost of future extensions and
improvements to said Municipal
Parking Facilities System, but
that before any such bonds ranking
on a parity are issued, there will
have been procured a statement of
an independent Certified Public
Accountant, not a regular employee
of the City, reciting the opinion,
based upon necessary investiga-
tions, that the net revenues of
the Municipal Parking Facilities
System, for the preceding fiscal
year (with permitted adjustments)
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.
Registration: The above bonds will be
issued in registered form as to principal
and interest. The Issuer has designated
the City Controller of Iowa City, Iowa as
the initial registrar. Payments will be
made by check mailed to the address of the
owner of the bond as of the record date as
shown by the records of the Registrar.
Payment of principal will be made upon
surrender of the Bond. The Issuer will
furnish at its expense to each named owner
one bond for each annual maturity.
Additional bonds in lesser denominations
will be furnished if an owner so requests.
Not more than fifteen (15) days after the
bond sale date the purchaser shall notify
the Registrar of the names and tax
identification numbers of registered
owners to be shown at the initial delivery
of the bonds, showing principal amounts
for each annual maturity. Otherwise the
bonds will be registered in the name of
the bidder or in the name of the first
participant listed in the bid.
Bid Security: All bids shall be accompa-
nied by a certified check or a cashier's
check drawn upon a solvent bank doing
business in the United States, in favor of
the City, in the amount of $77,100. The
good faith check of the successful bidder
will be deposited at the time of award and
deducted from the purchase price at the
time of closing. If the bidder to whom
the bonds are awarded withdraws its bid or
fails to complete the purchase in accor-
dance with the terms hereof, the Issuer
shall have the right in its sole discre-
tion to elect to treat the bid security
either as liquidated damages or as a
credit against the Issuer's claim for
actual damages occasioned thereby. Checks
of unsuccessful bidders will be returned
promptly.
Form of Bids: All bids shall be uncondi-
toni el excepi as provided in this notice,
for an entire issue of bonds for a price
not less than $3,787,550, plus accrued
interest, and shall specify the rate or
rates of interest in conformity to the
j -
i
Page 4
limitations of the following paragraph.
Bids must be submitted on or in substan-
tial compliance with the official bid form
provided by the Issuer. The bonds will be
awarded to the bidder offering the lowest
interest cost, which will be determined by
aggregating any permissible discount, if
any, with the interest payable by the
Issuer over the life of the bonds in
accordance with the terms of each bid
presented, and deducting therefrom the
premium, if any, stipulated in said
proposal.
Rates of Interest: The rates of interest
specified in the bidder's proposal must
conform to the limitations following:
1. All bonds of each annual maturity must
bear the same interest rate.
2. Rates of interest bid must be in
multiples of one-eighth or
one -twentieth of one percent.
3. Each rate of interest specified for
bonds of any annual maturity shall not
be less than a rate of interest
specified for any earlier maturity.
Delivery: The bonds will be delivered,
without expense to the purchaser at any
mutually acceptable bank and trust company
anywhere in the continental United States,
against full payment in immediately
available cash or federal funds. The bonds
are expected to be delivered within thirty
days after the sale. Should delivery be
delayed beyond sixty days from date of
sale for any reason except failure of
performance by the purchaser, the pur-
chaser may withdraw his bid and thereafter
his interest in and liability for the
bonds will cease. (When the bonds are
ready for delivery, the Issuer may give
the successful bidder five working days
notice of the delivery date and the Issuer
will expect payment in full on that date,
otherwise reserving the right at its
option to determine that the bidder has
failed to comply with the offer of
purchase.)
CUSIP Numbers: It is anticipated that
CUSIP numbers will be printed on the
bonds. In no event will the Issuer be
MY
I
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Page 5
1
responsible for or Bond Counsel review or
express any opinion of the correctness of
such numbers, and incorrect numbers on
said bonds shall not be cause for the
purchaser to refuse to accept delivery of
said bonds.
Legal opinion: Said bonds will be sold
subject to the opinion of Ahlers, Cooney,
Dorweiler, Haynie, Smith & Allbee,
Attorneys of Des Moines, Iowa, as to the
legality and their opinion will be
furnished together with the printed bonds
without cost to the purchaser and all bids
will be so conditioned. Except to the
extent necessary to issue their opinion as
to the legality of the bonds, the attor-
neys will not examine or review or express
any opinion with respect to the accuracy
or completeness of documents, materials or
statements made or furnished in connection
with the sale, issuance or marketing of
the bonds. The opinion will be printed on
the back of the bonds.
Rights Reserved: The right is reserved to
reject any or all bids, and to waive any
irregularities as deemed to be in the best
interests of the public.
By order of the City Council of the City
of Iowa City, Iowa.
City Clerk of the City of
Iowa City, Iowa
/89r
EVENSEN DODGE, INC.
rIN A%CIAI CONSULTANTS
TABULATION OF BIDS
$3,855,000 Parking System
Revenue
Bonds
Dated: November 1, 1985 Due: July 1, 1986/03
City
of
Bond
Iowa City, Iowa
Years: 44,549.997
Average Life: 11.56 Splits: 18
Price:
Not
less than $3,787,550.00
SALE DATE: Wednesday. October
16 1985
BBI 9.25
BIDDERS
ADDRESS
YEAR
RATE
YIELD
2 CLAYTON BROWN 6 ASSOCIATES
Chicago
1986
8.75
PRICE
SMITH BARNEY, HARRIS UPHAM
1987
8.75
6 CO, INCORPORATED
Chicago
1968
8,75
$ 3.787.856.14
RIDDER, PEABODY b CO.
Chicago
1989
8.75
Aid Securities Corp.
Des Moines
1990
8,75
NIC
Chiles, Heider d Co.
Omaha
1991
8.75
Hutchinson, Shockey, Erley d Co.
Chicago
1992
8.75
& 4.505.757.67
j Kirchner, Moore d Co.
Denver
1993
9.00
I
Miller 6 Schroeder Municipals
1994
9.25
NIR
Inc.
Minneapolis
1995
9.50
Van Kampen Merritt, Inc.
Naperville
1996
9.70
70.1139% ' 1
Bacon, Whipple, Division of
1997
9.90
Stifel, Nicholaus 8 Co., Inc.
Chicago
1998
10.00
The Chicago Corporation
Chicago
1999
10.25
Cronin 6 Marcotte, Inc.
Minneapolis
2000
10.25
First Mid America, Inc.
Chicago
2001
10.25
The Illinois Company, Inc.
Chicago
2002
10.25
2003
10.25
1 JOHN NUVEEN 8 CO. INCORPORATED
Chicago
1986
8.50
6.25
PRICE
DAIN BOSWORTH INCORPORATED
Minneapolis
1987
8.50
6.75
SECURITIES CORPORATION OF IOWA
Cedar Rapids
1988
8.50
7.25
$ 3.789,465.00
SHAW, McDERMOTT b CO.
Des Moines
1989
8.50
7.75
BECKER d COWNIE, INC.
Des Moines
1990
8.50
7.90
NIC
Blunt, Ellis 8 Loewi, Inc.
Chicago
1991
8.50
8.10
Piper, Jaffray d Hopwood, Inc.
Minneapolis
1992
8.50
8.30
S 4.'+_57-601.67
Chanter Newman Securities
1993
8.50
8.50
Div. of The Illinois Company
1994
8.75
8.75
NIR
Incorporated
Chicago
1995
9.00
9.00
-
Columbian Securities, Inc.
Chicago
1996
9.25
9.25
R.C. Dickinson 8 Co.
Des Moines
1997
9.50
9.50
_9.7813%
1998
9.70
9.70
1999
9.80
9.80
2000
9.90
9.90
2001
10.00
10.00
2002
10.00
10.00
2003
10.00
10.00
3608 IDS Tower, Minneapolis Minnesota 55402
I
612"338.3535
800/328-8200
800/328-8100 Minnesota
IA27.85A/1
�
G/ -tin • �%
IOWA CITY CITY COUNCIL
SPECIAL MEETING
October 16, 1985 4:45 P.M.
COUNCIL CHAMBERS
Item No. 1 - MEETING TO ORDER.
ROLL CALL.
Item No. 2 - CONSIDER RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY
CLERK TO ATTEST AN AGREEMENT WITH HANSEN LIND MEYER, P.C., FOR
ARCHITECTURAL/ENGINEERING SERVICES FOR A NEW ADDITION TO AND
ALTERATION OF THE IOWA CITY CIVIC CENTER.
Comment: Hansen Lind Meyer, P.C., is the firm selected by the respective
committees to provide ME services for both the new construction
and the remodeling projects.' The agreement provides for a not -
to -exceed fixed fee of 6.75% of the cost of new construction and
8% of the cost of the remodeling. A copy of the agreement is
attached to the resolution.
Action:
Item No. 3 - CONSIDER RESOLUTION TO APPROVE THE ACTION OF THE FINANCE DIRECTOR
IN THE SALE OF $4,700,000 GENERAL OBLIGATION BONDS.
Comment: This resolution ratifies and confirms the actions of the Finance
Director in the determination of the best and most favorable bid
which was received on October 16, 1985, at 11:00 A.M. on the
$4,700,000 General Obligation Bonds issue.
Action:
I
Item No. 4 - CONSIDER RESOLUTION TO APPROVE THE ACTION OF THE FINANCE DIRECTOR
IN THE SALE OF $4,055,000 PARKING SYSTEM REVENUE BONDS.
Comment: This resolution ratifies and confirms the actions of the Finance
Director in the determination of the best and most favorable
bid which was received on October 16, 1985, at 11:00 A.M. on
the $4,055,000 Parking Revenue Bond issue.
Action:
/9Y
i
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(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The Finance Director of Iowa City, Iowa.
Date of Meeting: October 16, 1985
Time of Meeting: 11:00 a.m.
Place of Meeting: Office of Finance Director, Iowa City,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned
Finance Director will meet at the date, time and place above
set out. The tentative agenda for said meeting is as follows:
- Opening of sealed bids for $4,055,000 Parking System
Revenue Bonds
Such additional matters as are set forth on the addi-
tional 2 pages(s) attached hereto.
(number)
This notice is given at the direction of the Mayor
pursuant to Chapter 21, Code of Iowa, and the local rules of
said governmental body.
1u�.n.w Io{,�:
City Clerk, wa City, Iowa
ORIGIMA�
(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
ORIGINAI-
Governmental Body: The City Council of Iowa City, Iowa.
Date of Meeting: October 16, 1985
Time of Meeting: 4:45 p.m.
Place of Meeting: Council Chambers, Civic Center, Iowa City,
Iowa.
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:
$4,055,000 Parking System Revenue Bonds
Resolution to approve the action of the Finance
Director in the sale of said bonds.
Such additional matters as are set forth on the addi-
tional 2 pages(s) attached hereto.
(number)
This notice is given at the direction of the Mayor
pursuant to Chapter 21, Code of Iowa, and the local rules of
said governmental body.
City Clerk, Iowa City, Iowa
Mon. Co oon...In Hry S t M" t ,, O Ab Nn, I
14
RESOLUTION NO. 85-307
A RESOLUTION of intent to dispose of a portion of Peterson Street lying south
of its intersection with Arbor Drive in Iowa City, Iowa.
WHEREAS, an ordinance has been presented to the City Council of the City of
Iowa City, Iowa, proposing to vacate certain City -owned street
right-of-way described as follows:
Commencing at the southwest corner of the northwest fractional
quarter of Section 18, Township 79 North, Range 5 West of the 5th
Principal Meridian; thence north 00043'39" west, (A Recorded
Bearing) along the west line of said northwest fractional quarter of
Section 18, 1052.00 feet; thence north 00043'39" west, along said
west line, 54.00 feet, to the northwest corner of Parcel 3 of the
plat of survey, recorded in Plat Book 19, at page 84, of the Records
of the Johnson County Recorder's Office, which is the Point of
Beginning; thence, north 86059'26" west, along the northerly line of
said Parcel 3, 19.43 feet, to a point which is 25.00 feet normally
distant easterly of the easterly line of Part 11A Court Hill, an
Addition to the City of Iowa City, Iowa, as recorded in Plat Book 9,
at page 40, of the Records of the Johnson County Recorder's Office;
thence north 00056'18" west, along a line parallel with the east
line of Part 11A Court Hill Addition, 211.29 feet; thence south-
easterly, 26.17 feet, along an 85.00 foot radius curve, concave
northeasterly, whose 26.07 foot chord bears south 51025120" east, to
a point on the west line of said northwest fractional quarter of
Section 18; thence south 00043'39" east, along said west line,
196.04 feet, to the Point of Beginning. Said tract of land contains
0.09 acres more or less, and is subject to easements and restric-
tions of record; and
WHEREAS, in the event that said proposed ordinance be enacted, and upon its
effective date said property be vacated, the same shall be deemed to
be excess City property, suitable for disposition; and
WHEREAS, Hallmark Homes, Inc. has proposed the vacation of said portion of
Peterson Street right-of-way so that it may acquire the east half of
said right-of-way and combine it with Lot 16 of the proposed Vista
Park Village Subdivision to meet minimum lot area requirements; and
WHEREAS, the City Council of the City of Iowa City, Iowa has been advised and
does believe that it would be in the best interest of the City of
Iowa City to consider said proposal for the disposition of said
City -owned property.
MY
i
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F
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NOW, THEREFORE, BE IT RESOLVED
BY THE CITY COUNCIL
OF THE
CITY OF IOWA CITY, IOWA:
That the City Council does hereby declare its intent and proposal to dispose
of the east half of the above-described City -owned street right-of-way,
consisting of 3,920 square feet, upon the enactment of the City ordinance
vacating same, o_T57 ark Homes, Inc. for the sum of $ 100.00 ;
and
AND BE IT FURTHER RESOLVED
That a Public Hearing on said proposal be set for October 22, 1985, and that
the City Clerk be and is hereby authorized, empowered and directed to cause
Notice of Public Hearing to be published as provided by law relative to the
proposal herein above set forth.
It was moved by Ambrisco and seconded by Zuber
the Resolution be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
x Ambrisco
x Baker
x Dickson
x Erdahl
x McDonald
x Strait
x Zuber
Passed and approved this 16th d of October 1985.
"YOR
ATTEST:
WIT LLhKKfir fE A .rove:;
!�i al epo:tnioni
J89S
ME