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Home My WebLink About1973-12-06 CorrespondenceNOTICE OF HEARING ON ISSUANCE OF $150,000.00 BRIDGE BONDS`. AND $450,000.00 STREET CONSTRUCTION: BONDS OF THE CITY OF IOWA CITY, IOWA Notice is hereby given that in the Council Chambers in the Civic Center at -1:00 o'clock p. M., or. the 6th day of December , 1973, the Council of Iowa City, Iowa, will hold a hearing on the matter of the issuance of $150,000.00 Bridge Bonds for the purpose of providing funds to pay a partof the cost of constructing bridges within said City, and on the matter of the issuance of $450,000.00 Street Construction Bonds for t`e purpose of providing funds to pay a part of the cost of street improvements within said City. At said time and place any interested persons may aouear and make such objections as are authorized by statute- Bv order of theCouncilof the City of Iowa City, Iowa Clerk or IowayCity, Iowa AHLERS. COONEY. DORWEILER. ALLOEE 6 HAYNIE. LAWYERS. DES MOINES. IOW- P auL D. , . �` 1I . s 1;R 0 / ✓�o ...0 rfl, �frrc�r �rrae '. & eXL1JOCllI Arc: , � Zlfea MUNICIPAL FINANCE CONSULTANTS AREA 312 FINANCIAL 6.0e5e Investment Rating: Noody's Investors Service, Inc. ... Aaa )•, ! $600,000 ,;rc ,•j,CITY OF IOWA CITY, IOWA , — _._.. General, -Obligation Bonds -Two Issues - •• Date 'of Sale:':�December' 619731'? 'n L>a., :r.t� lne.c '! ,.' .00.001 P �L% CPC $450,000 r%[i ii i pI,i SY'Ii i.11 Street Construction Bonds EIRI. Ia l nC . II Bidders Net Price - Coupon Rates Interest °The%IHerchants)National�Bank of)Cedar'Rapids, Iowepa-i'10—OVOO6b-1976-791`-''4?10 !$411IZ4�10YIf0$ 8,i1h \'jyrAWARDED"ert}.of1 i •� - .a') :, :zon<uti $79,;9'56', Carleton D.�BehCo - Ni! Noi'ne's`I• i}<}t 100.0617 - '1976=18 14:20 $x"ii14Y3434'!T% 1979 4110 $ $80,798 Dain;�_ Kalman 1� VQuail, Incl - Davenport and 100.0000 -t 1976'=78'•"4.20'$tF•1Ii:1?5769)$ Shaw,NIC'Dermdtt• E Co. ` rDes !bines - Jointly trI [• ('Continental Illinois National'Bank•Iand Trust 100.0078'''',1976• -77 =413%4t -P 1'4t171269$ Colnpany'of Chicago - Chicago 1978-79 4.00 $' $81,340 R.7 G' Dickinson E 667-1=V Des 146ines "=l Manager "„r ' 1'100'U6'50-: 1.1'976-7.77) 4 174$1 .1= 4"! 17346 % ':Blair'"A. Phillips Co., Inc. -,Davenport >' n1978'79 4r:201$ 1`'$81";383 `The Pirst National Bank\ of Chicago''=L Chica-.o 1 ' y • 4%,100;.0445i',111976178 ' 4i i f4$( ') 4 17626-$ `4%1V% $ °LaS' linc'lNationalVBank-,Chicagoo"O t"?I 1001'0398 =!11976' 41:00'`$`! '4` 183115$ 1977-78 4.40 % $81,571 IAS.a•, .�2\C W +t'I:, nf:p;,.^+t'. 1979 -�.';I_r,�1 .. .,.I,i .i•;i,v+ 4.00 $ 'd:;; 7^I.: The.Norihern Trust Company - Chicago 100.0087 1976 ..i['zI . 5.20 % 4.20376 % 1977-79 4.10 % 97 $81,4 97 HarrislTrust a nd,1Savings','Bank - Chicago :. ;: :. . ... 100.0064 1976 •,,..:. s 4.10 % 4.2196 $ 1977 5.00 $ $82,204 1978-79 4.10 $ BancHorthwest - Chicago and Becker 100.0050 1976 4 1/4$ 4.22865 $ 6 Cownie, Inc.,- Des Moines - Jointly 1977 4.10 % $82,459 1970-79 4 1/4$ Shearson, Hammill E Co., Inc. - liew York 100.ODOO 1976 4.60 $ 4.2384 "v 1977-79 4.20 v $8%,650 Kirchner, Moore and Company - Denver 100.0113 1976-77 4.90 $ 4.39738 n 1970-79' 4 1/4$ $85,749 000 Bridge Bonds :Bidders I "r r. i* Price Coupon Not Rates Interest The Merchants National Bank ofCedarj Rapids, .,Iowa,' -, 100.000o 1976-77 4.10 % 4.10 % AWARDED $10,450 Carleton D. Beb Co. - Des Moines 100.0650 1976 4.20 % 4.1200 % 0,: 1977 4.10 % $18 5140 The First National Bank of Chicago Chicago 100.0595 1976 4.00 % 4.15516 % Tr 1977 4.30 % $18,698 a thku it 2 Dainij Kalman &1jQuai1-„jqqj. -;'LDavenport and„>j (�97 Q:-, j�fji rjj,;,, IPP,_U�O_) j, 4.,2 0, 1k,. n &4;. 18 3 3 3 % Shaw, -McDermott 6 Co. -'Des Moines 1,-,,T,�4ckinily $18,825 Th,e., NqMhern tTRust Company Chicagq� 1. -.l1 100.0260(;,;;197.6 %, il 4:.21.633) % 1977 4.10 % $10,974 Papqlqrthwest, Chicago_pnd 7,100.0025 - 19,76 �4; 1/42;� t,4 2X % B,ecke _j rl.& Cownie,riInc ;,Des Moines Jointly :11977 .4.2.0:4Vv)0$18"9905 IT,1L.aSalle,j na Natiol! Bank -,.-phicagq!:*,. jj,i 1. 1., 1 ::,!, 1 1 i! 100.0265 ;.r1976a % 197,7! k--Lqq P.ickinsqn E Co-...,,-, Des Hoine.s,,,,:-f [tanager ::1976-7.7- 4 lPk%'A:),4124267;7% -:Blair. ,A. Phillips-. Cor;,, Inc. Davenport $19,,092 Continental-, lllinois.; National-, Ban k',and Trust Co,r,np'any,ti 300.0065(;; 19761,,t i,,4.04t i4-;247833% of Chicago Chicago 1977 4.00 % $19,115 P,ShparpRn, Hamill & Coir,-,Tnc :,-;;Naw; York 100.0600,t,i,1976 1977 4.20 % $19,185 Harris Trust and Savings Bank Chicago 100-0000 1976 4 1/2% 4.2666 % 197.7-1-. 4.10 Kirchner, Moore and Company Denver 100-0000 1976 4 3/43 4.429167% „,197,7;!,','4.20 Vj,i$19ij931P Tw•o New Issues/Investri3ent Rating t 3' , 0. Date of Sale: December 6, 1973.= \foodys Investoa Service, -Ina. _:.:........ da¢4 OFFICIAL STATEMENT :. u.. 1, :- 1 Interest Exempt, In Opinion o/ Boad Counsel, Front All Present Federal Income Taxes $600,000 CITY' OF IOWA CITY, ;IOWA ' 1 t General Obligation ,Bonds—Two Iss2[;ues " , Dated November 1; 1973 Due Mny11, 197G 1979 -- ' . Niiu Callable Cou on Bonds ' t I I ..': 1 � P Denommation Registrable As To lE'rmotpal Orily Principal and semiannual interest (May.1 and November _1) payable at the office of the City Treasurer, Iowa City, Iowa First coupon due May 1, 1974 COMBINED ISfAT1JRTiTEMay 1 _ i S , Street ' Due Dndgc Construction ' May bonds:. -i •-L-bonds t -'rt : !,Combined - 1970 ._....... ......:.:..$,,75,000t_, l: t:$,„75,000 ....$150,000 .1977 - . .......... 75.000 .75,000- : _ 150,000 -1978 • ]; ; .Y:. , 150 000.".: :...: ': 150.000 1979 ...::. c.......:'.` —0 :. '._:150'000`•r.!;.I `= 150,000. ..,.' $150,000 _$450 000 x.'.5000,000 LEGALITY `AND SECURITY 1 n . These bonds Ire general oUhgattons of the Crty of Iowa Cit "I Iowa and m the oplmon o£bond counsel, tifessrs., Alilers, Cooney; Dotivciler, �tllbcc'and Haynie, Lawyers; Des Moines, Iowa arc payaUlc, botli'prin- "cipal'and interest, from'ad v'alorcm taxes levied against all_taxible. property' within, the City"'of-Io�s�a' City, Iovva, exclusive of moneys and -credits without limitation as to ratc.or amount:l7 The City; iidll'furiiishithe 'printed -bonds and thc7approving'opinion :. of: said 'bond fittoineys together)with`a'.cerhfied;tnnscripttof all - proceedings bad in: connection: with their, issuance; including anon -litigation certificate.;: Interest, on; these bonds, in the opinion of bond counsel, fs exempt,from Federal.lncomeiTaxes„under, existing Stttutes,and decisions. The intormationin,this Statement has been' compiled from ;soiirccg believed' to'be'rel iablc, but'is'-- — guaranteed. As far as any statements hereininvolvematters of,6pinionjwheth6i or tiob'so stated, they tiro intended as opinions:and not_ is representations, of !fact,,+ This Official Statement has been prepared. under authority of the Cityof Iowa City, Iowa: 'Additional copies as well as copies of the Official Notic"e'of Salc`and'Official Bid Form may be secured from Ray S. Wells, City Manager, City Hall, Iowa City, Iowa, or from the Financial Consultants of the City: - PAUL D ,:SPEER & ej4646 cafeb�.��:c. '1 MUNICIPAL FINANCE CONSULTANTS 20 d*otU r%iac�s► tiee .��.. ... JIICQ�Oj J�Gf1O[d•-G0606 .- ::... ..: Area 332 rinaneial: GOess November S3, 1973 _ :.. _ r Statement,of Indebtedness As of December 1, 1973fa City Actual Value 1972-(Assessud $80,706,073)- . ! :.: r :...:,.. ....... - - .- ........ - o , ............ S2S%911.351 • ::_ - -,: •. .. .'-,::,,,,art :-Applicable:-.- - - ...Ratio Per Capita - - - ..: -- - Total <',': Percent ....... Amount. -, to City 1973 Pop. ...Actual .Est. @'47,1500' Direct Debt (including Thace Issues)°. ..-:., $5,142,000._-'''100.00% -- $-5;14$000 1.77% :-$-103.0-”"' Overlapping Debt: County -Ioluison .. 875,000' •.., 49.20%" :. '-330,500: .15% :: 907 Coimn Sch............. .. . Dist .............. : 8,282,000 .' .69.08%, .5,770898;;1.99% .121Afl Total Direct and.Overlapping Debt ...-. ... ..:.. , $11393398 ,3fl1%:.,.;�$ 238 81 Pcr Capita ,Actual Value .,. ..; :.. ._.. -: :y , :. �; . $0103:10.-:• ' Eicbtdes $2,937,000 Water Revenue. Bomb, $1,520000 Setter Demme Dottdr Also czcludm,$3965000 lndrertrtal De,-. eclopment IlevenucTiandr, principal and intercat'ol whith are'payahle soler lrom'rents under`a lease'with -the Phillips Petroleum Co::. r , The intormationin,this Statement has been' compiled from ;soiirccg believed' to'be'rel iablc, but'is'-- — guaranteed. As far as any statements hereininvolvematters of,6pinionjwheth6i or tiob'so stated, they tiro intended as opinions:and not_ is representations, of !fact,,+ This Official Statement has been prepared. under authority of the Cityof Iowa City, Iowa: 'Additional copies as well as copies of the Official Notic"e'of Salc`and'Official Bid Form may be secured from Ray S. Wells, City Manager, City Hall, Iowa City, Iowa, or from the Financial Consultants of the City: - PAUL D ,:SPEER & ej4646 cafeb�.��:c. '1 MUNICIPAL FINANCE CONSULTANTS 20 d*otU r%iac�s► tiee .��.. ... JIICQ�Oj J�Gf1O[d•-G0606 .- ::... ..: Area 332 rinaneial: GOess November S3, 1973 _ :.. • CITY OF IOWA CITY • Johnson County, Iowa City Officials City Council Ray S. Wells CityAfttnager C. L. Brandt Mayor- AbbieStolfus, City Clerk Edgar R. Czarnecki Joseph. - . deProsscB. Pugh, Jr., Director of FinanceFinanceCarol W J. Patrick White Jay If. hlonoh:m, Solicitor Loren Ilickerson Government and Services The governing and legislative body of the City consists of a five man council all elected at large with the Mayor elected by the Council from its own members:` Since 1951, the Council has unified its administrative functions through its City Manager who, as,administrativc hcaci,of thc_City go}crnmcnt supervises the per - re depart- formance of the 436 frill -time municipal cinployces iIowa Rtvcr and sig S47 pells) and edistribution cyand a 51 man te n and a mcnL The City owns and operates its water supply t (.. • Y, sewage collection and trcatmcnt'systmn'(ivith secondary treatment provided) Virtually the entire City has separate, storm .and sanitary sewers. The City also operates a municipal off-street and on street parking sys- tcm in tho doiv,ntown arca. In the late 1971, the City began the operatic` d a transit a si syscriweekS�s) m uid around the City which currently consists of ten routes, thirteen hours,p y y, p The City has a history of conservative financial management. Oyer 60% of its general obligation on are' due' in five yc6rs'wit}i the Gnal' maturities due in eleven y`c first Both the watcr;ind seµ cr systems ve in excellent financial condition with 1972 net earnings of the witer'systern producing a'1 S° tirnes'covcragc'of bonds and th esewer system producing a 4.81 times coverage maximum }cars debt service on water revenue er rci onuc bonds: 11te City annually up -dates its five year capital improve - of maximum debt service of sewment program and has a formal fiscal policy_ -that debt service charges shall not exceed 25% of the general tax levy (currently approximately 17% of the total levy). GENERAL INFORMATION Iowa City is located in the middle -east section of the State, lying 18 miles south of Cedar Rapids and 55 miles west of Davenport._ It is approximately equidistant•from-Chicago, Omaha, St. Louis and Minneapolis. The City became the Territorial Capital in 1839, one year after tlic separation of the Territoryit Iowa from the Wisconsin Territory. From 1846 to 1857Iowa City was the State Capital Although the Capital was later moved to Des Moines, Iowa City has continued to grow and prosper as the seat of Johnson County and the home of the State University of Iowa, the oldest and largest educational institution in the State. _. lir "At the 1980 Census, the median value of oiviicrpccut.picd,homes was 83 B% greater than t11e cora amble Statewide statistic. s the 1970 Census th- City's median value of $22;800 was 829% greater tlran; the Statewide mcdtaayalue_of $14,000. { o a t Between.the 1960 and 1970 Censuses, the City's populatiori4grew 40.8% to a total of 46,850 and the land area increased'from S square miles to 21'square miles: Thi, primary reason for thieIre ii me increase was the substantial increase in theenrollment at the'Universrty=University students «ere m3 for t e both the 196.0 and 1970 Censuses. Based upon the 10 year building program dated January 1, 1973 for the.University - _ .. as submitted by the Board of Regents to the Iowa Gencral Assembly, the next 10 years }vitt show only a moderalc growth in the enrollment at the University of Iow3swith the total enrollment in 1980 projected at 21,500. Enrollment—University of Iowa Professional ... _ -. (Law Medi cine_ -.. —U � , -Total - - - - Undergraduate Graduate and Dentistry) .7.791 3,322 1,020 11,113 ,} --. _ ..1,624 :2o.fiaf - Full 1960 - .. .. 13,896 5,084. a Fall 1970 .. 78% 53% 59% 85% increase .. ...... .. ... 13,714 •1,810 2,OOf 20,5..8: Fall 1973 ..... --r - ... _ ,2,156 2 14,3-14 - 5.000'- 1,500 , Projected 1980 • • • • • ._ • • +. 3.2% ' NIL _-- -1- 32.8% - -1' _ 4.3% Projected increase 1980 over 1970 ..... With approximately 9,400 employees (including staff) of -which 2,315 are part-time, the University is the majorcmployer in the City. The 10 year building program.refcrredto above calls [or a'total eapcndi' turc of $36.1. `tillion' (June 30, 1972 plant }aluc _-$282 5 Million). The Univ_crsity's total annual expenditures for the year ending June A 1972 were in excess of $126 Million. In addition to the usual areas of iiistruc- tion,_the University conducts_a space research center, and a medical center -which includes the 1,094 bed _Uni- ver has The University, is dic;onlyone of, the three controlled by,thc State.Board of Regents that has Colleges of Medicine; Dentistry and. Law. -. Steady growth in the City is evidenced in the table of Economic Indices set out below (construction at the University is excluded). Economiclndices`, - ' Building Permits.:,;, Residential _ .Total Telephone Rater Cnlendnr INo• Value, Connections Meters - Units Value Year - - 33,229 9,471 _ 1908 :.....:....... 190 $6,051,106 _.. S $ 9.841,884 9,699 :5,674,700 - 10.406,944 40,564 155 -,-,. 42,525- - ----9,909- 1970 9,909 --- -- - 1960 ... _ 8,996,000 ,',._12,895,926 255 1970 -... -.. .. .. - '.,.": - 14,559.700. 44,080 10.180 1911 .. .............:. 303 9:405,531 12,783,196 45.944 10,394 1972 2S3 ---r 8,450,546 -- 48,913 10,516 . .... ... :.179 5,041,125 _ 13,300,215 -10 mos. 1973. ... .... - Note: Telephone service by Nortbtcestern BelFTelephone, tenter 69 the City and electric and gas by the Iowa-Illimis Cas and Electric Co.. _ - -. 2 Economics • • The economy of the area is stabilized, by the State supported, University. Additionally, the University Hospital with 1,094 beds is the largest short-term acute care bospital in the State of Iowa, the Veterans Ad- ministration-Hospital (virtually;'across the street from the University Hospital) with 500-beds Wthe largest short-tens veterans hospital in the State; 'and together'with the'238 bed Mercy Hospital-provide`Iowa City with the second largest'ntunber of short-tern acute-care beds'of any City (Des'Momes`with 200,58Tpopu- lation has 285 more beds) in the State and witliout'questioni another very strong support for the local'econ- omy. The cost'of'new.educational•buildings it the 114edical'Center Campus '"since '3970'has tota1ed'$25 Million and the Hospital is in the process of a $14 Million iezpansion,program'(alrcadyf,funded). As thealrgcst City m.Johnson County, it u not"surpassing that tbc,City is'the retail bade center for the County plus several surrounding counties. The two business censuses during the 1960's,'parts of which are set out below, indicate the;stiong business growth «htc)i occurrcr . Dunnb the period, Iowa City,'s re- tail sales increased 45.9% compared to th'e Stntewidc mcrease'.of. 29% and the Cify's relative rank among all cities in the State increased from 11th to 8th. -- Census of Business-Retail Trade,:.! {. -1963 1967 _. _.... Number of Estabhshmeats ......... • � 278 313 Sales .. ........... ... $57,775,000 $8-1,332,000. .,_Number ofEmployees .......- 2,25fl "". ... 3360 . Annual Payroll ......................... $- 7,201 000. $10,368 000 - -At the same 1967 Genius, the City's Annual Receipts from Selected:Services were $11,146,000 up 61:1% compared to.a'Statewide increase of 27% and Wholesale Trade tot aled;$28,76i,060: 'p 19.9% compared to the Statewide.mcrease of 26%. Annual retail sales are curentlycstimated.to be approximately $120 Million. Of growing importance is the enlarging manufacturing base. In terns of Value Added by Manufac- ture" which the Census Bureau regards as the best measure.of the relative economic importance between geographic areas, Iowa City is now the 6th ,most important manufacturing city. Growth in terms of value added for the major cities in Iowa betvecn-tlic last two Censuses of Manufactures is shown below. Value Added by Manufacture (Census of Manufactures) - - - "'Value Added' rereent' Bank City- _::�(\lillians) . ;... Increase - 1607 Census 1963-19G1 1963. 1967 Cedar-Ilaplds ....... $41fl.1-_e. _ 1_"30.1%•'•= 1. - 1:_.. - Waterloo .... ... ......... 2&1.7 ' 37.9% - 2 2 .. Des Moines : - ..................... 245.1_ 34.1 °k 3 3 Dubuque ........................ 187.8 142.3% 7 q _. Davenport ... ........ ......'.. 140.2 51.1%- 4 5` IOWA CITY. ............ 95.1.- 82.2% 13 g Note: The Statewide increase in value added was 42.1% over the above period. The major industrial employers currently include: Stellar Globe Manufacturing Co. with approximately 6.50 employees (Urethane foam' Products)`;' Owens Brush Co.- with'450'employccs (Toothbrushes); West- inghouse Learning Corporation with 400 employees=(College Testing Forms); Procter & Gamble with 350 employees- (Toiletries); and,; Moore Business Forms with.212 employees. The most recent new industrial residents include -W-P. Smith and -Company_a subsidiaryof Phillips Petroleum Co. which operates it paper conversion process,: and a regional warehouse for ff. J. Heinz Co.-At thci1970 Census, a nominal 2.8%. of the work force was unemployed: which compares favorably to the Statewide average of 3.5%. :.Iowa City's prosperity is-further enhanced by the modern and-diverse transportation network serving the City. The Cedar Rapids Airport, located only about 20 miles from' downtown Iowa City is served'by both Ozark and United Airlines with numerous daily flights available. Rail`servicc'is provided'by the main - line of the Chicago Rock Island and Pacific Railroad and by a shortline connecting Iowa City and Cedar Rapids. This connects with mainlines of thc`Milwaukec' Road, the Illinois Central and the Chicago and North Western. :. Intercity frac}; and bus lines operate to and through Iowa -City, which lies imm mediately south of Inter - state Route SO, the ain east-west interstate; highway througli;Io%va There are five interchanges available to and from Iowa City. In addition, a new north-south superliighway isplanned which will 'come from the Waterloo arca, past Cedar Rapids, through Iowa City and continue on southeast. Chicago is less than four hours away %ia the completed Interstate Highway System. As of October 31, 1973, the three banks and two savings and loan associations in the City reported total deposits of $14S,353,316 and total assets of S1/77,967,806. 3 CO�f,�1UA*ITh LII ANO SCfI00LS Program continuing Program of cultural events is sponsored by Uic Univers1.ity ,This, plus the Untversttys,ath_- me"ictic program affords sidently Iowa. Cityresidentr,but,thosc of,e-astern Iovvajvvith.a; theltund,entcrtain- meni source Loctl residc_nts also enjoy over 400 acres.in 2A,parks.vutluton; iNyith sed, I- public_swuntnin Y 6,pools and a zoo. ;.1'hrcc public and,tvvo pnv.ttclgolF;courscs arcllocatcd in -the comms nay. The 92 churches inlowa Ci p Ygrounds, three 79,655 vo]umes and has a.circu]ation, of 13SS calpall IL, iding denominations. ,,The Ci tys public library houses Io wa City Community School District includes all of Iowa City, the City of Corandle and adjacent neral areas Tile i3istrict administers 16 clemeiitary schools `tlircc iinior'In 'with i combined total enrollment of `9,009 One,parochial'clementary an l oiic high school aie' l h sb ci in 1 , b. schools and two high schook tlrc Crty: el the 1I S Census, parochial/private school enrollment totaled 5.7%a T the17 total enrollm sated in stantially below, ill Statewide average of 10.0%; FINANCIAL INFORMATION Cumulative General Obligation Debt Retirement Schedule ;(Includin b r These fonds) From January 1, 1979—November 1, 1984 Year Annual _ train _. A+nount " Amount. --Percent Aminal Cumulative 1974 - Ycor `Amount S - 489,000 .-:. Mraunt _ 1975 -. $ 989,000 _:' 9.55,° 1980 ` — Percent 1976 .489,000 978,000 .19.0% •+ $:504,000 - OG9,000' 1,097,000 19811 319000 1,923,000 80.0% S 1977 ,341;000' 3...0% ,1: 1fl82 - 2 '1,74_,000.,_:922% ' + ' ' 00000 -1978 - ...' ;,794,000 el . r� '45:5%' .1983 . --.. 4,942000 ••• .3085000 -• .. -100 ....r 96.1% _. 1979 744.000 160.0% 1984- r 000 "-5.09°000. 3,829,000 _.::C'... 7.1.0% 42,000 100.0°,6 55142,000 _ 1 Assessed :Vuluationt -;Personal Property`i .r ` _ Year Real Locnll Property - Tnxcsl State Railroad ' Reim= ed R drop•UtilityTotal 1963 ..... $51,893,371,; -54, 2,57777-77 04 _r >i • Assessed - 1969 51,369,594 $1;286,1352" $3,187,546 _ _.. 1970 .... .•.�. 4,978,315 i,. ;1,3 - -$61,040,073 .... 57,180,907 5,915422. 0.1;248 - 3,741,988 61,394,145 ... -1,463,815 _ 1971 -.:... _ 9,OflS,711 -. -- 1872 ... .. 61803191: ..5785,5r6,r :-1,502,229 - 4,448,287 - 76,539,283 .-. �'0838G 6159,233 1014,797.1,S.iG,2D5 SO.7�OG,073 Tim hales—Pcr $1,000,Assessed Valuation ` Year ° Year -.. Cityof... School ... Johnson - - Iowa Crty -District County.-' 1968 -1969 �^ - and State - Total: - - .. 1969 .. .:1970 $33.004. $71.569 -.-$IS.i90- 1970 1971 .. 37.377' '_ 85.191 5120.963 -. 1971 .n 18379_:. _140.917 ::1972:. -37.01 86.826 �l°f4 1972. .. 1973.>.37.590-;77408 ...195.082 ....... 38.073 - +.-,. J0 78fl ::,+ 130.847 -80311 r.- 17.73241 136.110 __ Total Assessed and Tares Extended and Collected i, Levy : (Cityof Iowa City)., r _ `'Y- Coll f , -. ]•ear-: Total ,.'. Currant .. Twr - Tnxcs %'Cn .- . ,Assessed +• Cxtended.; Collection int t Total'(. 1968 ID69 , , Collections.. Collechoas°- Total IDG9 1970 $61,090 073 -` $2 098,717: + -$98.607,' ..:� o Collectious _ .:.1970. 61,37$1,115 :,2,4,10,655 $2,3376,61flT '$2,083,263 fl926%.' 1977 68,661,855 n - :.07.38%r -.. 4971 -, :. .. ..,007,028 2;10.5,1, 1972 76,539, 2,553,629 99.50% 12.:`:. 100:50, 1972;:, - • , , 1fl73 • - 283 2134,947 ^ 875;782 -2.580,399 100.50% - 80706,073 .. 3,134,947i 9.17i :99.08 % : - n,920 254' . 100.61 % ° Co11eclims exceed cztcruiars due to assessments ormttcd on(f Paler added - In Process —_ AUT110I1iLATION r The foregoing Official Statement has been approved for distribution to prospective widertivaaters and Purchasers. of $600 qp0 Ci o Iowa City General Obligation 13onds by_ @ic Ci 1111 uiEonnation and statistics are bc]ieved to be reliable;"and to, the best of ".". edge `and belief, its I lh . financial conditions bearing on the -City, but are not guaranteed.` : h Council of Iovi'a.Cit}, Iowa. November. 1973 /s/ RAYS 1Vrrrc - City lfanager 4 OFFICIAL NOTICE -OF =SALE CITY OF IOWA CITY, IOWA $150,000 Bridge Bonds X450,000 Street Construction Bonds Scaled bids will be received until 1:00 o'clock P.M., on the 6th day of December, 1973, at the office of the City Manager in the Civic Center, Iowa City, lova, for the purchasc of $150,000 Bridge Bonds and for $450,000 Street Construction Bonds of the City of Iowa City, Iowa, at which time such bids will be referred to the City Council of said City at its:mccting to be then heldatthe Council Chambers in the Civic' Center in: said Open bidding will be concluded -not later than 1:30 o'dod P.\l 'and, aftertlie best'open" bid foreaeh issue has been determined, the scaled bids will be publicly opened and the bonds for each issue will be sold to t1w highest bidder for cash. Sealed bids will be fully protected. The bonds to be offered arc the following: - BRIDCL BONDS, in the principal amount of $150,000 to be dated November 1, 1973, in the denomination of $5,000 each, and to mature as follows: - $ 75,000; on May 1; 1976 . $ 75,000 on May 1; 1977 STREET CONSTRUCTION.B.ONDS,:in the principal amount of $150,000 to be:dated November; l 1973, in the denomination of $5,000 each, and to mature as, follows:, $.75,000 on -fay 1;=1976. $ 75,000 on May 1, 1977 $150,000 on May I; '1978 $150,000 on May 1, 1979 Said bonds will bear interest payable May 1, 1974 and semiannually thereafter and will be registrable as to principal -only._ - - - None of said bonds will be optional for redemption prior to maturity. Both principal and interest will be payable at the office of tlic City Treasurer, Iowa City, Iowa. Each bid must be only for all of said bonds of either issue upon terms of not less than par and accrued interest and shall specify the interest rate or rates, for the bonds in a multiple of one-quarter or one-tenth of one percent provided that only one rate shall be specified for a single, maturity and not more than.t o (n); rates may be named for,any_issue. Repeating a previously men- tioncd rate' will not constitute an additional' interest rate. The difference between the"lirghdst and lowest rate of interest bid for any issue shall not exceed 11/% per annum Each installment of interest Nvill be represented by a single coupon on each bond. 11i'ebonds will be awarded to-tlic best Udder" for each issuee-detennincd upon - the basis of the lowest.total interest cost at the rate or rates designated in his, bid from November!, 1973 to the respective final maturity dates; after deducting any premium.= - Combination bids on both issues will not be:allowcd mid'said boridis§ue'swi]C6Esold scliarately'to the bid- der submitting the best bid. ' The maximum rate of interest which may, be bid for either issue shall not exceed 6%. Tliese bonds constitute general obligations of the City' payable from taxes levied upon all the taxable prop: erty in the City without limitation :is to rate or amount. Said bonds are expected to be delivered within thirty (30) days after the sale at any mutually agreeable bank or trust company"iri -the City of Chicago, -Illinois or Des Moines; Iowa, without expense to the purchaser. Should -delivery, bc_dclayed:beyond sixty,:(60) days from date of sale for any reason ��ithout.the fault of the City,!or except failure of performance by the purchaser, the purchaser may withdraw his clieck"and thereafter his interest in and liability for the bonds will cease: Whca the bonds are ready for delivery, the City will give the successful,biddcr.fivc:(5). days .notice-oC the dclfvery date and the City will expect payment in full in immediately. available funds on that date, otherwise reserving the right at its option to'determinc that the bidder has failed to comply with his offer of purchase'. The' City will , furnish the printed bonds and the approving opinion of Messrs. Alders,- Cooney,-Dorweiler, -Allbee & Haynie; Lawyers, Des Moines, Iowa, together with the transcript and -usual closing papers; including-non-liligation•cer: tificate. Said opinion will be printed on the bonds and will rccite;that, based on existing statutes, and decisions, P� interest on said bonds is exempt from present fcderal'income taxes. Rach'bidd6r; must furnisha separate certified - or cashier's check drawn on a solvent state or national bank or trust company as bid security, $3,000 4or the Bridge Bonds and S9,000 for. the Street Constitution Bonds, payable to the order of the City Treasurer of said City as a guarantee of good faith; this amount to be retained pending full performance by the successful bid- der and to be forfeited to the City as agreed liquidated damages upon failure of the purchaser to take up and pay for the bonds when ready in accordance with his arid, which must be reduced to writing on the Official Bid ' Form: (Continued on Page 4) (2) For your 5150,000 Street Construction Bonds we «ill pay you par and accrued interest from Novem- - her 1, 1973 plus a premium of $' with interest rates listed for each maturity: $75,000 May 1, 1976 % S150156,000 \Say, 1; 1978 % , _ $75,000 May 1, 1977 % r - $150,000, May 1, 3979 % Description of Check: Respectfully submitted, Amount: $9,000 Name Name of Bank 13y Address - City _ State Certified (Cashiers) Check No. Cid State Dated NOT A PART OF BID Calculation of Interest Cost: Check Returned To: Cross Interest Less Premium ....... $ Signed: Net Interest Rate' ....... ....... % Bid accepted and bonds sold December 6, 1973. Cood faith check being held in accordance with Official Notice of Sale. CITY OF IO\VA CITY, IOWA City Manager TABLE OF BOND YEARS - - From November 1, 1973:-. _.. - - (For Computation Only. Not Pad of Bid.)..- - Bridge Bonds Street Construction Bonds - - -- Bond Years - __ ,-- Bond Years Due Duc - Year Jlay. L - Annual Cumulative Year May I -Annual Cumulative 1976 ........... $ 75,000 - 187.5 - 187.5- - 1976 ........... $_ 75,000 - 187.5 -187.5 - . 1977 ....:...... - 75,000 262.5 ...150.0 1977 .: r........ 15,000 262.5 350.0 .. $150.000. .450.0 .1978 ........... '...150,000 675.0.. -: -1,125.0 . Avenge Life: 3.00 Years - - 1970 ........... 150,000 825.0 1,950.0 - .:-$450,000 1,950.0 -. - -. - — Average Life: 4.333 Years - 3 MUNICIPAL FINANCE CONSULTANTS PAUL D. SPEER.r,,cs,Dt N, RONALD Y. NORENE 9(/ •��nY(p t/l t'1'..`i1%Pp JOHN W. ILLYES. JR. //'7 n /• THOMAS E.COUGIILAN ��%�(•//(/lI; •_�f/,//O(✓ G�/��t/ TNEO.KUN2 O LAWRENCr. J. RIMMER AREA 312 FINANCIAL G-ODSa NVAr[OLOO. 10%VA 0010 310-:3s-10JO December 6,* 1973 The Honorable Mayor and City Council City Hall Iowa 'City, Iowa Gentlemen: Bids were received today covering your .$150,000.Bridge Bonds. There were bids received which are listed at the bottom of this let- l'er,in accordance with the attached signed bids,. There were oral bids received. Upon examination, it:: is our opinion that the bid of, is the best bid received, and it is further our opinion that it is favorable to the City and should be accepted. .We therefore recommend that the bonds be awarded to that bid- '2 der at the coupon rates and premium specified in the bid, being a net in- dJ, terest rate of Net Interest Account Managers Rate Bancillorthwest .. Carleton D. Bell Co. .... I'a.o !� 4lilliam Blair & Company'......... % $ Continental Illinois National Bank and Trust Company of Chicago 4, 2478,33 cl Dain, ICalman L& Quail, Inc. and Shaw; McDermott & Co. c/,/833 8 First Mid. America Corp`. ........... ... First National Bank in St. Louis � The First National Bank of Chicago .... )o Harris Trust and Savings Bank Iona-Des Moines National Bank and Becker & Caanle, Inc. 7 } 7. Kirchner, Moore and Company ...... u,11�1G7 7 LaSalle National Bank ........ ..... ... 4,2'2 o C The Flerchants National Bank of Cedar Rapids, Iowa ..... 4,Ib' % 11 The Northern Trust Company �- Shearson, Hanmill & Co., Inc. ., c aG 33 Z 3 E. 2.7)1 r _r ns; J (fin / 173e-_1(L._. 1 J LV •.............. J Respectfully submitted, PAUL D. SPEER & Associates, Inc. RVPI:mk Vice President P\ IIT: A SPEER�? (.) ✓h�Orl�r!•CC•'l, 4f% MUNICIPAL FINANCE CONSULTANTS PAULD. SPEER.P.c+lops ELY:OOD UARCE RONALO V. NOREIJE JOAN W. ILL'/ES. JR. �IJ ////•q///I� .. /.l/.//U(-f //(.'��!/. 1110MAS E.0000HLAN THEO. KUN/. _.___._.. AREA Y12 FINANCIAL 0-0858 LAWRENCE J. R1142-ICR w.rc A�oo.low• Savoi m�•:>s TaaA December 6,'.. 1973 The Honorable Mayor and City Council City Hall l'oaa City, Iowa Gentlemen: Bids were received today covering your $450,000.Street Construc- tion Bonds. There were bids', received which are listed at the.'bottom of this letter in accordance with the attached signed bids. there were oral bids received. Upon examination, it is our opinion that the bid of " ibid received s the best , and it is further our opinion that itis favorable to the City and should C i be 'accepted. .We therefore recommend that the bonds.be awarded to that hid- d 1 der. at the coupon rates and premium specified in the bid, beings net in- terest rate of % Net Interest Account Managers Rate BancNorthwest' .............................. 7, Carleton D. Beh Co........................................• U,'d 4 3 4 % IZ William Blair 6 Company .'.' .................................. Continental Illinois National Bank and Trust Company. of Chicago ........ :...... ........... ..:.......: I-I,I?r2�^q�`� � Dain, Kalman E Quai l , `Inc. and Shaw, McDermott E Co. .......,11, First Mid America Corp. % First National Bank in St. Louis ..... ..... .............` The First National Bank of Chicago ..'....................... I'76,2G q to Harris Trust and Savings Bank .............................. lova-Des Moines National Bank and Becker E Co•mie, Inc. 2 1 Kirchner, Moore and Company,................................=3�� q2' 7 LaSalle National Bank....................._.......... " y.;g?/i5 % i \ The Merchants National Bank of Cedar Rapids, 'Ionia ..........' 'y, Jo it The Northern Trust Company ..... .........................• Shearson, Hammill b Co., Inc. ........ .. .. t( 23�" 7 1 �Cf, UlrircNf^I- �;C..,. LJ/Arl % % .. .. ........ % OFFICIAL NOTICE OF SALE CITY OF IOWA CITY, IOWA $150,000.00 Bridge Bonds $450,000.00 Street Construction Bonds- Sealed bids will be received until 1:00 o'clock, on the 6th day of December, 1973, at the office of the City ?Tanager in the Civic Center, -Iowa -City, Iowa, for t::e` perchase of $150,000.00 Bridge Bonds and for $450,000.0vu Street Construction Bonds of the City of 'Iowa City, Iowa, az c::ach time such bids will be referred to the City Co�rcil o said City at its meeting to be then held at the Council Chambers in the Civic Center in said City_ Open bidding will be concluded not later than 1:30 o'clock r.N:c and, after the best open bid for each issue has been de e --ned. t:�e sealedbidswill be publicly opened and the bends for each issue will be sold to the highest bidder for cas:^.. Sealed bids ,will be fully protected. The bonds to be offered are the following: BRIDGE BONDS, in the principal amount of $150,000.00, to be dated November l; 1973, in the denomination o" $5,000.100 each, and to'mature -as follows: $75,000.00 on May 1, 1976 $75,000.00 on May 1, 1977 STREET CONSTRUCTION BONDS, in the principal anount of $450,000.00, to be dated November 1, 1973, in the denomination of $5,000.00each, and to mature as follows $_75,000.00 -on -May -1, 1976 $ 75,000.00 on May 1, 1977 $150,000.00 on May 1, 1972 $150,000.00 on May 1, 1979 Said bonds will bear interest payable 'may 1, 1974, and semiannually°thereafter -and will be registrable as to principal only. None of said bonds will be optional for redemption prior to maturity. Both principal and interest will be oavable at the office of the City Treasurer, Iowa City, Iowa. Each bid must be only for all of said bonds of either issue upon terms of not less than par and accrued interest and shall specify the -interest rate or rates for the bonds in a multiple of --one'-quarter or one-tenth - or one percent provided that only one rate shall be - specified for a single maturity and not more than two (2) rates may be named for any issue. `:Repeating a previously mentioned rate will not constitute an additional - interest rate_ The difference between the highest and lowest rate of interest bid for any issue shall' not exceed 1 1/2a per annum. Each installment of interest U1.4-11 be represented by a single coupon on each bond. -5- __ n!.r.rr. F. Ccurvcv. Dcrw F,L=n. AILne=_ Gf4 IGonr ra Icw. The bonds will be awarded to the best bidder for each _ssue determined upon the basis of the lowest total interest cosi at the rate or rates designated in his bid from %ovember 1, 1973, to the respective final maturity dates, after deducting any premium. Combination bids on both issues will not be allowed and said bond issues --:gill be sold separately to the bidder submitting the best bid. The maximum rate of interest which may be bid for either issue shall not exceed 6%: These bonds will constitute general obligations of the City payable from taxes levied upon allthe taxable property in the City without limitation as to rate or amount. Said bonds are expected to be delivered within "'irty (30) days after the sale atanymutually agreeable :.,anti or trust company in the City of Chicago, Illinois, or Des -Moines, Iowa, without expense to the purchaser. Shoulddelivery be--delayed-beyond sixty (60' days from date of sale for anv reason, without the fault of the -City, or except failure of performance by the purchaser, the purchaser may withdraw his check and thereafter his interest _n and liability for the bonds will cease When the bonds are readv for delivery, the City will give the successful I five (5) days' notice of the delivery date and the City will expect payment in full in immediately available ands on that date, otherwise reserving the right at its option to determine that the bidder has failed_to conoly with his offer of purchase. The Citv will furnish the I ?Tinted bonds and the approving opinion -of -Messrs. Ahlers Cooney,-Dordeiler, Allbee& Haynie, Lawyers, Des Moines, owa, together.with the transcript and usual closing papers including non -litigation certificate.. Said opinion-i:'ill be printed on the bonds and will recite that, based on existing statutes and decisions -,;interest on said bonds is exempt from present federal income -taxes. Each bidder :must furnish a separate certified or cashier's check drawn on a solvent state or national bank, or trust company as bid security, $3,000.Oo for the Bridge Bonds and $9,000.00 for the Street Construction Bonds, payable to tileorderof the City Treasurer of said City as a guarantee of good faith, this amount to be retained pending full performance by the successful bidder and to be forfeited to the City as agreed liquidated damages upon failure of _ the purchaser to take up and pay for the bonds whenready in accordance with his bid, which _must be reduced to Writing on the Official Bid Form. The City Council reserves the right to waive in - for -malities in any bid,_to reject any or all bids and to determine in its sole discretion the best bid A MLERS. GOONEY. DORWEILER. ALLB CC HAYNIE. LAWYERS. DES MOINCS. IOWA - 0 The City Council has authorized the preparation of an Official Statement containing pertinent information relative to the City. For copies of thatStatementand she Official Bid Form, or for any additional information, any prospective purchaser is referred to the undersigned at the Civic Center, Iowa City, Iowa, or the Municipal Finance Consultants of the City, Paul D_; Speer & Associates, -Inc., 20 North Wacker Drive, Chicago, Illinois 60606. - Telephone: Area 312 - 346-0858. o�•�a . By order of the City Council of the City of Iowa City, T City Clerk or Iowa City, Iowa BE IT FURTHER RESOLVED, that at said time and place herein- before fixed for the sale of said bonds, this Council will hold a public hearing on the matter of the issuance of $150;000.00 'ridge Bonds and $450,000.00 Street Construction. Bonds at which time and place the Council will hear any objections offered to the ,Municipality's issuance thereof,and the Clerk is hereby directed to publish notice of the issuance of said bonds, said notice to be published once in a legal newspaper, printed wholly -in the English language, at least ten days prior to the date mixed for said hearing. 1973. PASSED AND APPROVED, this 20th day of November Mayor ATTEST: - Clerk -7- AHLERS. GOONEY. DORWEILER. ALLSEE h HAYNIE. LAWYCRS. OLS IAoiNCS. IOWA The Council of Iowa City, Iowa, met on the above date in - regular session pursuanttolaw and the rules of said Council and in accordance with the terms of a notice of meeting, a copy of which was served on each member of the Council within the time required by law and accepted in writing by each member thereof, said notice of meeting being as follows: _ NOTICE Iowa City, Iowa, December 6 1973 TO: Brandt, Czarnecki, deProsse, Hickerson, White Councilmen Iowa City, Iowa Dear Sir: You are hereby notified that a meeting of the Council of Iowa City, Iowa, will be held on the 6th day of December , 1973, at the Civic Center in Iowa City, Iowa, at 1.DZ o clock P. M., for the purpose of adopting a Resolution Directing the Sale of $150,000.00 Bridge Bonds and $450,000.00 Street Construction Bonds, and for such other business in connection therewith as may come before the meeting. Respectfully submitted, S/C. L. Brandt Mayor Service of the foregoing notice is hereby acknowledged. - S/C. L. Brandt S/Edgar Czarnecki S/Carol deProsse S/Loren Iiickerson S/J. Patrick White AHLERS. COONEY. OORWEILER. ALLBEE & HAYNIE. LAWYERS. DES MOINES. IOWA The meeting was called to order by Mayor Brandt Mayor, and on roll call the following Council members were present: Brandt, Czarnecki, deProsse, Hickerson, White Absent: None The Mayor announced that this was the time for public hearing on the matter of the issuance of $150,000.00 Bridge Bonds and $450,000.00 Street Construction Bonds, and asked if any written objections had been filed No oral objections were offered and the Clerk advised no written objections had been filed. This also being the time and place fortheopening of bids for the _sale of said above described bonds, the meeting was thrown open for the receipt of bids for said bonds. The following sealed bids were received and not opened: $150,000.00 BRIDGE BONDS - Iowa-Des Moines Nat'l. Bank & Becker & Cownie, Inc. R. C. Dickenson & Co. Shearson, Hammill & Co., Inc. Continental Ill. Nat'l. Bank & Trust Co. of Chicago The Northern Trust Company, Harris-Trust & Savings Bank Kirchner, Moore & Company Dain, Kalman & Quail, Inc., & Shaw, McDermott -& Co. LaSalle National Bank - First National Bank of Chicago - Merchants Nat'l. Bank of Cedar Rapids, Ia. Carleton D. Beh Co. $450,000.00 STREET CONSTRUCTION BONDS Iowa-Des Moines Nat'l. Bank & Becker & Cownie,-Inc. R. C. Dickenson & Co. Shearson, Hammill & Co. - - Continental Ill. Nat 1 Bank & Trust Co. of Chicago The Northern Trust Company Harris Trust & Savings Bank- Kirchner, Moore &=-Company Dain, Kalman & Quail, Inc., & Shaw, McDermott & Co. LaSalle National Bank First National Bank of Chicago Merchants Nat'l. Bank of Cedar Rapids, Ia. Carleton D. Beh Co. AHLERS. GOONEY. DORWEILER. ALLSEE B HAYPIIE. LAWYERS. DES MOINES. IOWA - • (O 1. :a to, grow THE IOWA STATE HIC3HWAY COMMISSION i61B-490-1107 • AME6. IOWA 50 01 JOSEPH R. COUPAL, JR. October 5,... 1973 Directs - H. E. GUNNERSON Chief Engineer REFER TW '... To, City Clerks' From: Rex H. Wiant Urban Engineer Subject: Street Construction Program, Road Use Tax Funds The 1973 session of the 65th Iowa General Assembly repealed Section 312.13 of the Code which had required-sission of an annual Budg ubmet Report', to qualify for Road Use Tax, allocation. However, Section, 312.12 ,which requires submission of.a Street Construction.Program remains effective. The Iowa State Highway Commission must certify to the State'. Treasurer thecities that do not 'comply With Section rams submitted by December 10, 1973. 312.12 by having their Prog The 64th General Assembly passed the "fiscal year ,law placing political ',subdivisions on,a fiscal year basis:, instead of a calendar year 'basis. Since the 65th General Assembly ,failed to establish a study committee to resolve objections to this, legislation, a transition from calendar to fiscal period prevails and is reflected in this report. The reporting period is from January 1, 1974 to June 30, 1975. Forms RUT -4 and Certification Sheets are enclosed for your use. than 5,000 Will report All cities and towns with a population less a'Construction Program for the period January L, 1974 to June 30, 1975. Cities with over 5,000population will report a.Street Construction Program for the period "January '1,.1974 to June 30, 1975 and fiscal years 1976 and 1977. If no construction is planned,,use,the word !'none on the RUT -4 form and return with certification to the Highway Commission. Instructions are included for your use .in pre- __ paring the Programs. Please send two copies of the Program to your District Engineer, f Iowa State Highway Commission, on or before December 10, 1973. offices are at Ames, Mason City, Sioux City, Atlantic, Fairfield and Cedar Rapids. RHW:mkr Enclosure COMMISSIONERS JULES M. BUSKER STEPHEN GARST HARRY F. REED ROBERT R. RIGtER DAVID O. S �IRM�eI New Hantpl0n Clutton' Sioux City Coen RyMB x r ' NO. YEAR STREET-` NAME OR NUMBER PROJ. LIMITS SYSTEM ARTERIAL OR LOCAL EXISTING SURFACE OR STRUCTURE TYPE OF CONSTRUCTION - LENGTH (HUND-TH .MILE) � -'TOTAL EST. COST FROM TO 1 1974 Burlington (Urban Renewal) Madison St. Gilbert St. A Brick & Asphalt Widening 6 reconstruction - 0.40 420,000 2 1974 Muscatine 1st Ave. Scott Blvd. A Concrete Widening $ resurfacing 1.12 S1S,000 3 1974 Sand Road Highway k6 By- Pass South- gate St. A Bituminous Surface Treatment Paving, widening $ grading 0.48 150,000 NO. R.U.T.-4 SHEET_2 OF 3 CITY Iowa City TOWN LENGTH (HUND'TH MILE) COUNTY Johnson DATE December 6, 1973 NO. YEAR STREET NAME OR NUMBER PROJ. LIMITS SYSTEM ARTERIAL OR', LOCAL EXISTING SURFACE OR STRUCTURE TYPE OF CONSTRUCTION LENGTH (HUND'TH MILE) TOTAL EST. COST FROM TO FY River- > E Boun- Concrete 1 1976 Melrose side dary A & ROW, widening, paving $ grading ,67 $ 5250000 Ave. Drive Univ Ht Asphalt $ bridge reconstruction FY 2 1976 Scott Blvd Muscatine Roch- A Unimproved Paving & ROW ,$ grading 1,31 3753000 Ave. ester FY Benton St. River - 3 1976 Bridge Capitol side A Asphalt Bridge, widening $ resurfacing '' ,12 400,000 Drive FY Urban 'Rena Court S .Front S1. 4 1976 Streets F, Washing Linn St L Asphalt Reconstruction 0,95 607,250 Malls ton St. FY River- U.S. 5. 1976 Iowa #1 side Dr. #518 A Concrete Right-of-way $ grading 3.70 9869000' IOWA STATE HIGHWAY COMMISSION FORM 111:6-70-15246 FILE: 28.7 1500 SETS PB 16477 STREET CONSTRUCTION PROGRAM R.U.T.-4 SHEET 3 OF 3 FOR 19 L TO 19 77 CITY Iowa City TOWN COUNTY - Johnson DATE December 6, 1973 STREET PROJ. LIMITS SYSTEM EXISTING NAME' fFY : YEAR OR NUMBER FROM West 1977 Melrose High Ave. School FY TO ARTERIAL OR LOCAL SURFACE OR STRUCTURE TYPE OF CONSTRUCTION LENGTH (HUND'TH MILE) TOTAL EST. COST A L A 1.S,,Y518 A Asphalt 11011, Widening Fr reconstruction Reconstruction 0,75 11,38 $ 750,00 2 3 4 1977 FY 1977 Y 1977 Sunset St. Urban Ren. Streets F, Malls Iowa #1 Sinton Court S Washing ton St. River - side Drive Highway' . Front St. Linn Street U.S. 518 A L A none Asphalt Concrete Grading and paving 0,57 150,000 Reconstruction 0,75 260,000 Paving 3.70 1,365,000