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HomeMy WebLinkAbout2004-02-17 Resolution Prepared by: Marian K. Karr, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5043 RESOLUTION NO. 04-37 RESOLUTION TO ISSUE DANCING PERMIT BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA, that a Dancing Permit as provided by law is hereby granted to the following named person and at the following described locations upon his/her filing an application, having endorsed thereon the certificates of the proper city officials as to having complied with all regulations and ordinances, and having a valid beer, liquor, or wine license/permit, to wit: RT's -- 826 S. Clinton Street Passed and approved this 17th day of Februar.y ,20 04 MAYOR Pro fern It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn Prepared by: Ross Spitz, Civil Engineer, 410 E. Washington St., iowa City, IA 52240, (319)356-5149 RESOLUTION NO. 04-38 RESOLUTION SE'I-rING A PUBLIC HEARING ON PLANS, SPECIFICATIONS, FORM OF CONTRACT, AND ESTIMATE OF COST FOR THE CONSTRUCTION OF THE 2004 ASPHALT RESURFACING PROJECT, DIRECTING CITY CLERK TO PUBLISH NOTICE OF SAID HEARING, AND DIRECTING THE CITY ENGINEER TO PLACE SAID PLANS ON FILE FOR PUBLIC INSPECTION. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IOWA CITY, IOWA: 1. That a public hearing on the ptans, specifications, form of contract, and estimate of cost for the construction of the above-mentioned project is to be held on the 2nd day of March, 2004, at 7:00 p.m. in the Emma J. Harvat Hall, Civic Center, Iowa City, Iowa, or if said meeting is cancelled, at the next meeting of the City Council thereafter as posted by the City Clerk. 2. That the City Clerk is hereby authorized and directed to publish notice of the public hearing for the above-named project in a newspaper published at least once weekly and having a general circulation in the C!ty, not less than four (4) nor more than twenty (20) days before said hearing. 3. That the copy of the plans, specifications, form of contract, and estimate of cost for the construction of the above-named project is hereby ordered placed on file by the City Engineer in the office of the City Clerk for public inspection. Passed and approved this ~.7th dayof February ,20. 04 MAYOR Pro 'fern Approved by CITY'CLERK - ' ' C~'['y A~orneY's Office It was moved by Vanderhoef and seconded by Baile.y the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell × Vanderhoef X Wilburn pwe ng\res',2004 a s phalt doc 2/04 Prepared by: Ron Knoche, City Engineer, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5138 RESOLUTION NO. 04-39 RESOLUTION AUTHORIZING MAILING AND PUBLICATION OF NOTICE OF INTENT TO COMMENCE PUBLIC IMPROVEMENT PROJECT TO CONSTRUCT THE SOUTH GILBERT STREET IMPROVEMENTS PROJECT, NAPOLEON LANE TO CITY LIMITS AND TO ACQUIRE PROPERTY FOR THE PROJECT; AND SE'I-rING DATE OF PUBLIC HEARING. WHEREAS, under the provisions of Sections 6B.2A and 6B.2B of the Iowa Code, a governmental body which proposes to acquire property under power of eminent domain for a public improvement project is required to give notice of intent to commence the project to all property owners whose properties may be acquired in whole or in part for the project; and WHEREAS, the City Council of the City of iowa City intends to commence a project to construct the South Gilbert Street Improvements Project, Napoleon Lane to city limits, which includes grading, paving, storm sewer, water main and related construction of South Gilbert Street from Napoleon Lane to city limits, which project is to be known as the South Gilbert Street improvements Project, Napoleon Lane to city limits; and WHEREAS, before the City of Iowa City can proceed with said project, the City Council must: a. Hold a public hearing, providing the opportunity for public input on the question of proceeding with the public improvement and on the acquisition or condemnation of property interests for the project; and b. Adopt a resolution declaring its intent to proceed with said project and authorizing the acquisition of property interests required for the project by negotiation or condemnation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CiTY OF IOWA CITY, IOWA, THAT: 1. Documentation showing the proposed location of the South Gilbert Street Improvements Project, Napoleon Lane to city limits shall be placed on file in the office of the City Clerk and made available for public viewing. 2. A public hearing on the City's intent to proceed with the South Gilbert Street Improvements Project, Napoleon Lane to city limits and to acquire property rights therefore is to be held on the 6"~ day of April 2004, at 7:00 p.m. in the Emma J. Harvat Hall, Civic Center, Iowa City, Iowa, or if said meeting is cancelled, at the next meeting of the City Council thereafter as posted by the City Clerk. 3. The Department of Public Works and City Clerk are hereby authorized and directed to cause notice of the City's intent to proceed with said project and authorize the acquisition of property for said project to be mailed and published as required by law with said Notice of Intent to be in substantially the attached form; said publication to be published in a newspaper published at least once weekly and having a general circulation in the City, not less than four (4) nor more than twenty (20) days before said hearing. Resolution No. 04-39 Page 2 Passed and approved this 17th day of February ,20 04 MAYOR PrO fern Approved by CI'I'Y~LERK City'Attorney's ~)ffice It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: Bailey Champion Elliott Lehman O'Donnell Vanderhoef Wilburn Prepared by Andy Matthews, Asst. City Attorney, 410 E. Washington St., Iowa City, IA (319)356-5030 RESOLUTION NO. 04-40 RESOLUTION AUTHORIZING TIlE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST A LICENSE AGREEMENT FOR TEMPORARY USE OF PUBLIC RIGHT-OF-WAY BETWEEN THE CITY OF IOWA CITY, THE MOEN GROUP, AND TERRAPIN BREWERY, INC. d/b/a TERRAPIN COFFEE IOWA CITY FOR A SIDEWALK CAI~ WHEREAS, the City of Iowa City is the custodian and trustee of the public right of way within the City; and WHEREAS, The landowner, Moen Group and Terrapin Brewery, Inc. d/b/a Terrapin Coffee Iowa City, applied for temporary use of the public right-of-way at 259 Iowa Avenue, Iowa City, Iowa for a sidewalk caf6 and temporary and removable fencing thereon; and WHEREAS, City staff has reviewed the application, location, and specifications for the proposed sidewalk caf6 and found these to be in compliance with the regulations adopted by Ordinance 97-3764; and WHEREAS, such use of the public right-of-way is compatible with the public use thereof; and WHEREAS, it is in the public interest to set forth the conditions regarding such use of the public right-of-way, as enumerated in the License Agreement for Temporary Use of Public Right-of-Way (hereinafter "license agreement"). NOW, THEREFORE, BE ri' RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA THAT: Pro tern 1. The Mayor andCity Clerk are hereby authorized and directed to respectively sign and attest said license agreement, copy of which is on file with the City Clerk. 2. The City Clerk is hereby directed to record this Resolution and license agreement with the Johnson County Recorder at Applicant's expense. Passed and approved this 17th day of Februar.¥ ,2004. M~YOR Pro tern ' -- - ATI'EST:~ Approved by: City Attomey's Office Terrapin Sidewalk Caff Res Resolution No. 04-40 Page 2 It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliot[ X Lehman X O'Donnell X Vanderhoef X Wilbum Prepared by Andy Matthews, Asst. City Attorney, 410 E. Washington St., Iowa City, IA (319)356-5030 RESOLUTION NO. 04-41 RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST A RENEWAL OF A LICENSE AGREEMENT FOR TEMPORARY USE OF PUBLIC RIGHT-OF-WAY BETVVEEN THE CITY OF IOWA CITY, LANDOWNER BILL MILHALOPOULAS, AND ATLAS WORLD GRILL, INC., D/B/A ATLAS WORLD GRILL, FOR A SIDEWALK CAF~ WHEREAS, the City of Iowa City is the custodian and trustee of the public right of way within the City; and WHEREAS, Atlas World Grill, Inc. d/b/a Atlas World Grill, applied for temporary use of the public fight-of-way at 127 Iowa Avenue for a sidewalk caf6 and anchored fencing thereon; and WHEREAS, City staff has reviewed the application, location, and specifications for the proposed sidewalk caf6 and found these to be in compliance with the regulations adopted by Ordinance 97-3764; and WHEREAS, such use of the public right-of-way is compatible with the public use thereof; and WHEREAS, it is in the public interest to set forth the conditions regarding such use of the public fight-of-way, as enumerated in the License Agreement for Temporary Use of Public Right-of-Way (hereinafter "license agreement"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA THAT: 1. The Mayor and City Clerk are hereby authorized and directed to respectively sign and attest said license agreement, copy of which is on file with the City Clerk. 2. The City Clerk is hereby directed to record this Resolution and license agreement with the Johnson County Recorder at Applicant's expense. Passed and approved this 17th day of February .2004. MAYOR Pro /em ATTEST: ~) ~. ~-~t.,) Approved by: CITY"CLE~ ' ' City Attorney's Office AtlasWorldOrill Sidewalk Ca£~ Res Resolution No. 04-41 Page 2 It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef × Wilbum Prepared by Andy Matthews, Asst. City Attorney, 410 E. Washington St., Iowa City, IA (319)356-5030 RESOLUTION NO.04-42 RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST A RENEWAL OF A LICENSE AGREEMENT FOR TEMPORARY USE OF PUBLIC RIGHT-OF-WAY BETWEEN THE CITY OF IOWA CITY, LANDOWqNER 120 BUILDING CO. LL.P., AND VITO'S OF IOWA CITY INC., d/b/a VITO'S, FOR A SIDEWALK CAFE WHEREAS, the City of Iowa City is the custodian and trustee of the public right of way within the City; and / WHEREAS, Landowner 120 Building Co. L.L.P., and Vito's of Iowa City, Inc., d/b/a Vito's, applied for temporary use of the public right-of-way at 118 E. College St., Iowa City, Iowa for a sidewalk caf6 and anchored fencing thereon; and WHEREAS, City staff has reviewed the application, location, and specifications for the proposed sidewalk caf6 and found these to be in compliance with the regulations adopted by Ordinance 97-3764; and WHEREAS, such use of the public right-of-way is compatible with the public use thereof; and WHEREAS, it is in the public interest to set forth the conditions regarding such use of the public right-of-way, as enumerated in the License Agreement for Temporary Use of Public Right-of-Way (hereinafter "license agreement"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA THAT: Pro tern 1. The Mayor and City Clerk are hereby authorized and directed to respectively sign and attest said license agreement, copy of which is on file with the City Clerk. 2. The City Clerk is hereby directed to record this Resolution and license agreement with the Johnson County Recorder at Applicant's expense. Passed and approved this 17thdayof Februar.y,~~ ~ ~. _ MAYOR Pr6 tern ATTEST:~ Approved bl~,' / f-ty-Attofi yXs Omee Vito's Sidewalk Caf6 Res Resolution No. 04-42 Page 2 It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vande~oef X Wilburn Prepared by: Klm Johnson, Public Works Engineering, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5139 RESOLUTION NO. 04-43 RESOLUTION ACCEPTING THE WORK FOR THE ANIMAL SHELTER HVAC PROJECT: PHASE II. WHEREAS, the Engineering Division has recommended that the work for construction of the Animal Shelter HVAC Project: Phase II, as included in a contract between the City of Iowa City and Ace Refrigeration of Cedar Rapids, dated September 9, 2002, be accepted; and WHEREAS, the Engineer's Report and the performance and payment bond has been filed in the City Clerk's office; and WHEREAS, the final contract price is $41,598.15. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA, THAT said improvements are hereby accepted by the City of Iowa City, Iowa. Passed and approved this 17th day of February ,20 04 MAYOR Pro fern Approved by C'ITY"GL~RK ' (~it-y ,~tt~rneq's Office It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion x Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn pweng\res~shvacecptwork.doc 2/04 Prepared by: Liz Osborne, PCD, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5246 RESOLUTION NO. 04-44 RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AND THE CITY CLERK TO ATTEST TO A SUBORDINATION AGREEMENT BETWEEN THE CITY OF IOWA CITY AND HILLS BANK AND TRUST COMPANY, IOWA CITY, IOWA FOR PROPERTY LOCATED AT 716 NORTH DUBUQUE STREET, IOWA CITY, IOWA, WHEREAS, the City of Iowa City is the owner and holder of two Agreements and a Mortgage in the total amount of $249,332, executed by the owner of the property on December 10, 2003, and recorded on December 11, 2003, in Book 3677, Page 148 through Page 157, and in Book 3677, Page 158 through Page 169, and in Book 3677, Page 170 through Page 173, in the Johnson County Recorder's Office covering the following described real estate: The north 65 feet of lot 5 and the north 65 feet of the west 20 feet of lot 6, all in block 73, in Iowa City, IA, according to the recorded plat thereof WHEREAS, Hills Bank and Trust Company financed a loan in the amount of $100,668 to the owner of 716 North Dubuque Street and secured the loan by a mortgage covering the real estate described above; and WHEREAS, it is necessary that the Mortgage held by the City be subordinated to the loan of Hills Bank and Trust Company secured by the mortgage; and WHEREAS, Hills Bank and Trust Company has requested that the City execute the attached subordination agreement thereby making the City's lien subordinate to the lien of said mortgage with Hills Bank and Trust Company; and WHEREAS, there is sufficient value in the above-described real estate to secure said lien as a second, which is the City's intended position. NOW, THEREFORE, BE IT RES..OLVF~D BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA that the Mayr~'is ~horized to execute and the City Clerk to attest the subordination agreement between the City of Iowa City and Hills Bank and Trust Company, Iowa City, Iowa. Passed and approved this 17th dayof February ,20 04 MA~OR Pro tern Approved by CITY"'G~ERK ' ' ' City Attorney's Office ppdrehab/res~subord-716ndubuque,doc Resolution No. 04-44 Page 2 It was moved by Vanderhoef and seconded by Bailey the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliot[ X Lehman X O'Donnell X Vanderhoef X Wilburn SUBORDINATION AGREEMENT THIS AGREEMENT is made by and between the City of iowa City, herein the City, and Hills Bank and Trust Company of Iowa City, Iowa, herein the Financial Institution. WHEREAS, the City is the owner and holder of certain Aqreements and a Mortclacle which at this time is in the amount of $249,332, and was executed by Successful Living Supportive Housinq Pro.qram (herein the Owner), dated December 10, 2003, recorded December 11, 2003, in Book 3677, Page 148 through Page 157, and in Book 3677, Page 158 through Page 169, and In Book 3677, Page 170 through Page 173, Johnson County Recorder's Office, covering the following described real property: The north 65 feet of lot 5 and the north 65 feet of the west 20 feet of lot 6, all in block 73, in Iowa City, IA, according to the recorded plat thereof, WHEREAS, the Financial Institution proposes to loan the sum of $100,668.00 on a promissory note to be executed by the Financial Institution and the Owner, securing a mortgage covering the real property described above; and WHEREAS, to induce the Financial Institution to make such loan, it is necessary that the ARreements and Mort.qa,qe held by the City be subordinated to the lien of the mortgage proposed to be made by the Financial Institution. NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties hereto, the parties agree as follows: 1. Subordination. The City hereby covenants and agrees with the Financial Institution that the above noted A,qreements and Mortqa.qe held by the City is and shall continue to be subject and subordinate to the lien of the mortgage about to be made by the Financial Institution. 2. Consideration. The City acknowledges receipt from the Financial Institution of One Hundred and Fifty Dollars ($150.00) and other good and valuable consideration for its act of subordination herein. 3. Senior Mortgage. The mortgage in favor of the Financial Institution is hereby acknowledged as a lien superior to the Aqreements and Mort(lacle of the City. 4. Binding Effect, This agreement shall be binding upon and inure to the benefit of the respective heirs, legal representatives, successors, and assigns of the parties hereto. Dated this /'~/tday of ~EP-~q.~,.A~/I .20 O ~-. CITY OF IOWA CITY FINANCIAL INSTITUTION Hills B nk and Trust Company Ross Wi]burn, Mayor Pr6 rem J. e~.l , 'lice President Attest: e ~r~tt, Business City U>'Trerk CITY'S ACKNOWLEDGEMENT STATE OF IOWA ) ) SS: JOHNSON COUNTY ) On this F'/ day of ~¢~,~,,~, ,20 oz~-, before me, the undersigned, a Notary Public in and for the State of Iowa, pCsonally appeared ~.~[ ~,c~].~¢r~ and Ma~an K. Karr, to me personally known, and, who, being by me duly sworn, did say that they are the May~? an~ C~ty Clerk, respectively, of the C~ty of Iowa C~ty, Iowa; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation, by authority of its City Council, as contained in (Ordinance) (Resolution) No. ~,[--- ~- passed (the Resolution adopted) by the City Council, under Roll Call No. '----. -- of the City Council on the /7' day of ~F_ISKu-AP-.V ,20 ~5t , and that ~;o~ Lz);IL,,.,..,.,_ and Marian K. Karr acknowledged the execution of the instrument to be their voluntary act and deed and the voluntary act and deed of the corporation, by it voluntarily executed. b,.~.l SONDRAE FORT I I'.~'1 My Commission Expires I Notary Public in and for the State of Iowa I'~ml ~,-~- · L I STATE OF IOWA ) ) SS: JOHNSON COUNTY ) On this 9th day of February , 2004 , before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared Roger J. Reillv and tO J~f~ Jarrett, me personally known, who being by me duly sworn, did say that x~%he Vice President and X~X Business Banking Officer that said instrument was signed on behalf of said corporation by authority of its Board of Directors; and that said Roger J. Reil.]r~.F~n~,.~.~,._t acknowledged the execution of said instrument to be the voluntary act and deed of said corporation, by it and by bimCher voluntarily executed. them '~'~ % I CAROL & FRITZ Notary Public in and for the Sta~ of Iowa Prepared by: John Yapp, PCD, 410 E. Washington St., Iowa City, iA 52240; 319-356-5247 (SUB03-00027) RESOLUTION NO. 04-45 RESOLUTION APPROVING THE PRELIMINARY PLAT OF J JR DAVIS ADDITION, IOWA CITY, IOWA. WHEREAS, the owner, James R. Davis, Robert A. Davis, and Jan Ellen Smith, filed with the City Clerk of Iowa City, Iowa, an application for approval of the preliminary plat of J JR Davis Addition; and WHEREAS, the Department of Planning and Community Development and the Public Works Department examined the preliminary plat and recommended approval; and WHEREAS, the Planning and Zoning Commission examined the preliminary plat and, after due deliberation, recommended acceptance and approval of the plat; and WHEREAS, the preliminary plat conforms with all of the requirements of the City Ordinances of the City of Iowa City, Iowa. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA THAT: 1. The preliminary plat of J JR Davis Addition, Iowa City, Iowa, is hereby approved. 2. The Mayor and City Clerk of the City of Iowa City, Iowa are hereby authorized and directed to certify this resolution, which shall be affixed to the plat after passage and approval by law. Passed and approved this ]_71;h day of Feb~'ua~.,~ ,20 04 . Approved by CITY"~tLERK City ~,t~r~e~s Office It was moved by Vanderhoef and seconded by Champ,ion the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott }( Lehman X O'Donnell X Vanderhoef X Wilbum ppcladmin~res~r d e'.qs.d oc Prepared by: John Yapp, Assoc. Planner, 410 E. Washington St., Iowa City, IA 52240; 319-356-5247 (SUB03-00028) RESOLUTION NO. 04-4§ RESOLUTION APPROVING THE PRELIMINARY PLAT OF SANDHILL ESTATES, IOWA CITY, IOWA. WHEREAS, the owner, SG&M Properties, LLC and subdivider, Southgate Developers, filed with the City Clerk of Iowa City, Iowa, an application for approval of the preliminary plat of Sandhill Estates; and WHEREAS, the Department of Planning and Community Development and the Public Works Department examined the preliminary plat and recommended approval; and WHEREAS, the Planning and Zoning Commission examined the preliminary plat and, after due deliberation, recommended acceptance and approval of the plat; and WHEREAS, the preliminary plat conforms with all of the requirements of the City Ordinances of the City of Iowa City, Iowa. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA THAT: 1. The preliminary plat of Sandhill Estates, Iowa City, Iowa, is hereby approved. Pro fern 2. The Mayor and City Clerk of the City of Iowa City, Iowa are hereby authorized and directed to certify this resolution, which shall be affixed to the plat after passage and approval by law. Passed and approved this 17th .dayof Febrjja~-,y ,20 04 MAYOR Pro tern Approved by ClTY'~.ERK City ~,ttorne~fs Office It was moved by 0' Donne11 and seconded by Vanderhoef the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn ppdad min\res~sand hillprelim-res.doc 8 Prepared by: Susan Dulek, Asst. City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 RESOLUTION NO. 04-47 RESOLUTION AUTHORIZING CONVEYANCE OF A SINGLE FAMILY HOME LOCATED AT 1927 GRANTWOOD STREET TO A PUBLIC HOUSING PROGRAM TENANT, WHEREAS, the City Council of the City of Iowa City functions as the Iowa City Housing Authority; and WHEREAS, the Iowa City Housing Authority owns a single family home located at 1927 Grantwood Street, also known as Lot 153 in Mount Prospect Addition Part III; and WHEREAS, a public housing program tenant has offered to purchase the home at 1927 Grantwood Street for the principal sum of $122,000, which is the appraised value of the property; and WHEREAS, this sale would provide the opportunity for a Iow-income family to obtain ownership of their own home; and WHEREAS, on February 3, 2004, the City Council adopted a Resolution declaring its intent to convey its interest in 1927 Grantwood Street, authorizing public notice of the proposed conveyance, and setting the date and time for the public hearing; and WHEREAS, following the public hearing on the proposed conveyance, the City Council finds that the conveyance is in the public interest. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA, that: 1. Upon the direction of the City Attorney, the Mayor and the City Clerk are authorized to execute a warranty deed conveying the City's interest in 1927 Grantwood Street, legally described as Lot 153 in Mount,prosnect Addition Part III, Iowa City, Iowa, to a public housing program tenant. The Mayor ati~J City Clerk are further authorized to execute a second mortgage agreement and resale agreement with said family in an amount not to exceed $24,400. 2. The City Attorney is hereby authorized to deliver said warranty deed and to carry out any actions necessary to consummate the conveyance required by law. Passed and approved this 17th day of February 2004. MAYOR Pro fen~ Approved by CI"TY ~>LERK City Attorney's Office Resolution No. 04-47 Page 2 It was moved by 0' Donne] ] and seconded by Vanderhoef the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn 9 Prepared by: Mitchel T. Behr, Asst. City Atty., 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 RESOLUTION NO. 04-48 RESOLUTION AUTHORIZING CONVEYANCE OF THE WEST ONE-HALF OF A TWENTY FOOT WIDE BY EIGHTY FOOT LONG VACATED PORTION OF THE ALLEY LOCATED BETWEEN LOTS 4 AND 5, BLOCK 15, COUNTY SEAT ADDITION, ADJACENT TO 729 SOUTH CAPITOL STREET, TO EAGLE VIEW PROPERTIES LLC. WHEREAS, the City Council previously vacated the above-referenced portion of alley; and WHEREAS, Eagle View Properties LLC, as the owner of the adjacent has offered to purchase said portion of alley; and WHEREAS, the City does not need the vacated right-of-way to provide access to property, but does need to retain a utility easement over the properly; and WHEREAS following public hearing, the disposition of the subject property subject to a utility easement, is found to be in the public interest. NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF IOWA CITY, IOWA, that: 1. The Mayor and City Clerk are hereby authorized and directed to execute written contracts, deeds and all other documentation in a form approved by the City Attorney, to complete the transaction provided for and as set forth above. 2. The City Attorney is authorized and directed to record all the necessary documentation to transfer title of said property to the purchasers at their expense. Passed and approved this 17th dayof February ,2004. MAYOR Pro fern ATTEST: ~//~ ~. ClTY~OLERK App.ro/ved by , '~ity At~rne~'s Office Resolution No. 04-48 Page 2 It was moved by Vanderhoef and seconded by 0'Donne1'[ the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn Prepared by: Brian Boelk, Civil Engineer, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5437 RESOLUTION NO. 04-49 RESOLUTION SElrING A PUBLIC HEARING FOR MARCH 2, 2004, ON AN ORDINANCE AMENDING TITLE 3 ENTITLED "CITY FINANCES, TAXATION & FEES," CHAPTER 4, "SCHEDULE OF FEES, RATES, CHARGES, BONDS, FINES, AND PENALTIES"; AMENDING TITLE 14 ENTITLED "UNIFIED DEVELOPMENT CODE," CHAPTER 3, "CITY UTILITIES," ARTICLE A, "GENERAL PROVISIONS," SECTION 14-3A-2, "DEFINITIONS," AND SECTION 14-3A-4, "RATES AND CHARGES FOR CITY UTILITIES" AND; AMENDING TITLE 14 ENTITLED "UNIFIED DEVELOPMENT CODE," CHAPTER 3, "CITY UTILITIES," TO CREATE A STORMWATER UTILITY AND ESTABLISH A STORMWATER UTILITY FEE. WHEREAS, pursuant to Chapters 384 and 388, Code of Iowa (as amended) the City of Iowa City is authorized to establish a stormwater utility and provide for the collection of rates and charges to pay for said utility; WHEREAS, stormwater utility rates will fund the stormwater utility system over time; and WHEREAS, the City Code requires that notice and public hearing on proposed changes in rates for fees and charges for City utilities be provided to the public, prior to enactment of said rates for fees and charges. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IOWA CITY, IOWA: 1. That a public hearing is to be held on the 2nd day of March, 2004, at 7:00 p.m. in Emma J. Harvat Hall, City Hall, Iowa City, Iowa, or if said meeting is cancelled, at the next meeting of the City Council thereafter as posted by the City Clerk. 2. That the City Clerk is hereby authorized and directed to publish notice of the public hearing in a newspaper published at least once weekly and having a general circulation in the City, not less than four (4) nor more than twenty (20) days before said hearing. 3. That the copy of the ordinance is hereby ordered placed on file by the City Engineer in the office of the City Clerk for public inspection. Passed and approved this 'lT-kh day of F~,hrua~'? ,20 (~4 · Pweng\res\utilitiesfee.doc Resolution No. 04-49 Page ~ It was moved by Vanderhoef and seconded by 0'Donnel 1 the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn Prepared by: Sylvia Mejia, Human Resources, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5026 RESOLUTION NO. 04-50 RESOLUTION AMENDING THE BUDGETED POSITIONS IN THE PARKING DIVISION OF THE PARKING AND TRANSIT DEPARTMENT BY ADDING ONE HALF-TIME AND ONE THREE-QUARTER TIME CASHIER POSITIONS WHEREAS, Resolution No. 03-82, adopted by the City Council on March 11, 2003, authorized permanent positions in the Parking Division of the Parking and Transit Department for FY04; and WHEREAS, the Parking Division has previously used temporary employees to provide coverage in the absence of permanent employees; and WHEREAS, this change will provide for coverage of absences while allowing for full compliance with the Collective Bargaining Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA, THAT: the budgeted positions in the Parking Division of the Parking and Transit Department be amended by: 1. The addition of one half-time (20 hours per week) Cashier position, and 2. The addition of one three-quarter time (30 hours per week) Cashier position. Passed and approved this 17th dayof Feb~'ua~',y ,20 04 MAYOR Pr~ ~ fe'~ -Approved by CITY'CLERK City Attorney's Office It was moved by Vanderhoef and seconded by Champion the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell × Vanderhoef X Wilburn hu manrel/res/pkg-ptcashiers doc Prepared by: Jann Ream, Code Enforcement Assistant, 410 E. Washington St., Iowa City, IA 52240 319-356-5120 RESOLUTION NO. 04-§1 RESOLUTION AUTHORIZING THE ACQUISITION OF PROPERTY LOCALLY KNOWN AS 925 WASHINGTON STREET, WHICH IS A PUBLIC NUISANCE, FOR THE PURPOSE OF ABATING THE NUISANCE. WHEREAS, under Iowa Code section 364.12A, a city may condemn a residential building found to be a public nuisance and take title to the property for the purpose of disposing of the property by conveying the property to a private individual for rehabilitation or for demolition and construction of housing; and WHEREAS, the property locally known as 925 Washington Street, which contains a single family dwelling, is a public nuisance; and WHEREAS, since 1989, the property has been the subject of numerous complaints and Notices of Violation due to tall grass, snow and ice on the public sidewalk, garbage and debris scattered on the property, and general deterioration of the property; and WHEREAS, since 1994, the City has had to abate snow violations and tall grass and weed violations in almost every instance when a Notice of Violation was sent; and WHEREAS, on June 15, 2001, the City sent a letter to the property owner of record informing her of the new abandoned/vacant building ordinance and the requirements for registration and inspection, and because the said owner did not contact the City to register the building within the 30 days as requested in said letter, the City filed a municipal infraction citation against her on May 6, 2002 for failing to register the house as a vacant/abandoned building which was served by publication; and WHEREAS, on June 18, 2002, the said owner did not appear at her initial appearance, and the Court granted the City's application for a search warrant to inspect the interior of the house to determine the general condition of the property and its structural integrity; and WHEREAS, on July 9, 2002, three City inspectors entered the house pursuant to the search warrant; and WHEREAS, said house is in serious disrepair having been mostly gutted and said house is full of garbage and debris; and WHEREAS, said house poses a serious hazard because of numerous unvented heating devices, propane tanks, and a jury-rigged wood stove; and WHEREAS, there is evidence that vagrants and vermin inhabit the property; and WHEREAS, said property has become a serious detriment and hazard to the neighborhood and to firefighters; and Resolution No. 04-51 Page 2 WHEREAS, said property has been uninhabited for at least five years; and WHEREAS, absent intervention, it is highly likely that said property will continue to generate nuisance complaints and violations and will continue to deteriorate and become even more hazardous until the house will no longer be salvageable. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA: 1. The property locally known as 925 Washington Street is a public nuisance. 2. It is in the public interest of the City of Iowa City to acquire said property for the public purpose of disposing of said property by conveying the property to a private individual for rehabilitation or for demolition and construction of housing. 3. The City Manager, or designee, in consultation with City Attorney's office, is authorized and directed to establish, on behalf of the City, an amount the City believes to be just compensation for the property to be acquired, and to make an offer to purchase the property for the established fair market value. 4. The City Manager, or designee, is hereby authorized and directed to negotiate the purchase of said property. 5. The City Manager, or designee, is authorized to sign offers of purchase and purchase agreements for the purchase of said property. 6. In the event negotiation is successful, the Mayor and City Clerk are hereby authorized, upon direction of the City Attorney, to execute and attest all documents necessary to effectuate the purchase of said property. The City Attorney is hereby directed to take all necessary action to complete said transactions, as required by law. 7. In the event the property cannot be acquired by negotiation, the City Attorney is hereby authorized and directed to initiate condemnation proceedings for acquisition of said property. Passed and approved this 17th day of February ,2004. MAYOR Pro- tern Approved by (~IT'Y"-(:;LERK City Attorney's Office Resolution No. 04-51 Page 3 It was moved by 0' Donnel 1 and seconded by Champion the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Champion X Elliot X Bailey X Lehman X O'Donnell X Vanderhoef X Wilburn hisad m/res/925washington.doc Prepared by: Jeff Davidson, PCD, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5252 RESOLUTION NO. 04-52 RESOLUTION ADOPTING THE MELROSE AVENUE/GRAND AVENUE TRAFFIC OPERATIONS STUDY FINAL REPORT, WHEREAS, cities may adopt plans directing the future growth of their community to provide for the public health, safety, and general welfare; and WHEREAS, the City Council directed a committee to be formed with representatives from the City of Iowa City, the University of Iowa, and the Melrose Avenue Neighborhood Association to examine traffic operations in the Melrose Avenue/Byington Road/Grand Avenue area; and WHEREAS, the committee's work has been completed and a final report has been produced with recommendations on traffic operations in the Melrose Avenue/Byington Road/Grand Avenue area; and WHEREAS, it is desirable to use said report for the planning of traffic operations in the study area. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA, THAT: the Melrose Avenue/Grand Avenue Traffic Operations Study Final Report be adopted as a guideline for decision-making on the transportation system in the Melrose Avenue/Byington Road/Grand Avenue area. Passed and approved this 17th day of Februar,¥ ,20 04 MAYOR Pr6 te~ Approved by CITY ~L. ERK City Att(~rn~y's Office It was moved by 6hampi on and seconded by Vanderhoef the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Bailey X Champion X Elliott X Lehman X O'Donnell X Vanderhoef X Wilburn ppdadm/res/melroseTOS.doc February 17 ,2004 The City Council of Iowa City, Iowa, met in requl ar session, at Emma J. Harvat Hall, City Hall, Iowa City, Iowa, at 7: 00 o'clock p__.M., on the above date. There were present Mayor Pro rem Wi 1 burn ., in the chair, and be following named Council Members: Bailey, Champion, Elliott, O'Donnell, Vanderhoef, Wilburn Absent: Lehman -1- Council Member Vanderhoef moved that the form of Continuing Disclosure Certificate be placed on file and approved. Council Member 0' Donnel 1 seconded the motion. The roll was called and the vote was, AYES: Bailey, Champion, Elliott, O'Donnell, Vanderhoef~ Wilburn NAYS: None Council Member Champion introduced the following Resolution entitled "RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $7,305,000 GENERAL OBLIGATION BONDS, TJDCABLE SERIES 2004, AND LEVYING A TAX TO PAY SAID BONDS" and moved that it be adopted. Council Member 0' aonnel 1 seconded the motion to adopt, and the roll being called thereon, the vote was as follows: AYES: Vanderhoef~ Wilhurn: RailPy: £hampinn: Elliott, O'Donnell NAYS: None Whereupon, the Mayor declared said Resolution duly adopted as follows: Resolution No. 04-53 RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $7,305,000 GENERAL OBLIGATION BONDS, TAXABLE SERIES 2004, AND LEVYING A TAX TO PAY SAID BONDS WHEREAS, the Issuer is duly incorporated, organized and exists under and by virtue of the laws and Constitution of the State of Iowa; and -2- WHEREAS, the Issuer is in need of funds to pay costs of aiding in the planning, undertaking and carrying out of urban renewal projects under Chapter 403 of the Code of Iowa, and all of the purposes set out in Section 403.12 of the Code of Iowa, all in connection with the Plaza Towers Urban Renewal Project as specifically described in the agreement among the City and Plaza Towers, LLC and Marc Moen, Monica Moen and Michael Moen, an essential corporate purpose, and it is deemed necessary and advisable that General Obligation Bonds, Taxable Series 2004, in the amount of $7,305,000 be issued for said purpose; and WHEREAS, pursuant to notice published as required by Section 403.12 of said Code, this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of said Bonds, and the Council is therefore now authorized to proceed with the issuance of said Bonds; and WHEREAS, pursuant to the provisions of Chapter 75 of the Code of Iowa, the above mentioned bonds were heretofore sold at public sale and action should now be taken to issue said bonds conforming to the terms and conditions of the best bid received at the advertised public sale: NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IOWA CITY, IOWA: Section 1. Definitions. The following terms shall have the following meanings in this Resolution unless the text expressly or by necessary implication requires otherwise: · "Authorized Denominations" shall mean $5,000 or any integral multiple thereof. · "Beneficial Owner" shall mean the person in whose name such Bond is recorded as the beneficial owner of a Bond by a Participant on the records of such Participant or such person's subrogee. · "Bond Fund" shall mean the fund created in Section 3 of this Resolution. ~ "Bonds" shall mean $7,305,000 General Obligation Bonds, Taxable Series 2004, authorized to be issued by this Resolution. "Cede & Co." shall mean Cede & Co., the nominee of DTC, and any successor nominee of DTC with respect to the Bonds. -3- "Continuing Disclosure Certificate" shall mean that certain Continuing Disclosure Certificate executed by the Issuer and dated the date of issuance and delivery of the Bonds, as originally executed and as it may be amended from time to time in accordance with the terms thereof. · "Depository Bonds" shall mean the Bonds as issued in the form of one global certificate for each maturity, registered in the Registration Books maintained by the Registrar in the name of DTC or its nominee. "DTC" shall mean The Depository Trust Company, New York, New York, a limited purpose trust company, or any successor book-entry securities depository appointed for the Bonds. "Issuer" and "City" shall mean the City of Iowa City, Iowa. "Participants" shall mean those broker-dealers, banks and other financial institutions for which DTC holds Bonds as securities depository. "Paying Agent" shall mean the City Controller, or such successor as may be approved by Issuer as provided herein and who shall carry out the duties prescribed herein as Issuer's agent to provide for the payment of principal of and interest on the Bonds as the same shall become due. · "Project Fund" shall mean the fund required to be established by this Resolution for the deposit of the proceeds of the Bonds. · "Registrar" shall mean the City Controller of Iowa City, Iowa, or such successor as may be approved by Issuer as provided herein and who shall carry out the duties prescribed herein with respect to maintaining a register of the owners of the Bonds. Unless otherwise specified, the Registrar shall also act as Transfer Agent for the Bonds. · "Representation Letter" shall mean the Blanket Issuer Letter of Representations executed and delivered by the Issuer to DTC on file at DTC. "Resolution" shall mean this resolution authorizing the Bonds. · "Treasurer" shall mean the City Treasurer or such other officer as shall succeed to the same duties and responsibilities with respect to the recording and payment of the Bonds issued hereunder. -4- Section 2. Levy and Certification of Annual Tax; Other Funds to be Used. (a) Levy of Annual Tax. That for the purpose of providing funds to pay the principal and interest of the Bonds hereinafter authorized to be issued, there is hereby levied for each future year the following direct annual tax on all of the taxable property in Iowa City, Iowa, to-wit: FISCAL YEAR (JULY 1 TO JUNE 30) AMOUNT YEAR OF COLLECTION: $442 941 2004/2005 $354 353 2005/2006 $354 353 2006/2007 $669 353 2007/2008 $671 753 2008/2009 $668 553 2009/2010 $669 353 2010/2011 $668 378 2011/2012 $666,403 2012/2013 $668,115 2013/2014 $668,878 2014/2015 $673,690 2015/2016 $677,090 2016/2017 $678,934 2017/2018 $679,434 2018/2019 $683,184 2019/2020 $689,740 2020/2021 $693,765 2021/2022 $695,640 2022/2023 (NOTE: For example the levy to be made and certified against the taxable valuations of January 1, 2003, will be collected during the fiscal year commencing July 1, 2004). (b) Resolution to be Filed With County Auditor. A certified copy of this Resolution should be filed with the County Auditor of Johnson County, Iowa, and said Auditor is hereby instructed in and for each of the years as provided, to levy and assess the tax hereby authorized in Section 2 of this Resolution, in like manner as other taxes are levied and assessed, and such taxes so levied in and for each of the years aforesaid be collected in like manner as other taxes of the City are collected, and when collected be used for the purpose of paying principal and interest on said Bonds issued in anticipation of said tax, and for no other purpose whatsoever. (c) Additional City Funds Available. Principal and interest coming due at any time when the proceeds of said tax on hand shall be insufficient to pay the same shall be promptly paid when due from current funds of the City available for that purpose and reimbursement shall be made from such special fund in the amounts thus advanced. Section 3. Bond Fund. Said tax shall be collected each year at the same time and in the same manner as, and in addition to, all other taxes in and for the City, and when collected they shall be converted into a special fund within the Debt Service Fund to be known as the "GENERAL OBLIGATION BOND FUND 2004 NO. 1" (the "Bond Fund"), which is hereby pledged for and shall be used only for the payment of the principal of and interest on the Bonds hereinafter authorized to be issued; and also there shall be apportioned to said fund its proportion of taxes received by the City from railway, express, telephone and telegraph companies and other taxes assessed by the Iowa State Department of Revenue. Section 4. Application of Bond Proceeds. Proceeds of the Bonds other than accrued interest except as may be provided below shall be credited to the Project Fund and expended therefrom for the purposes of issuance. Any amounts on hand in the Project Fund shall be available for the payment of the principal of or interest on the Bonds at any time that other funds shall be insufficient to the purpose, in which event such funds shall be repaid to the Project Fund at the earliest opportunity. Any balance on hand in the Project Fund and not immediately required for its purposes may be invested not inconsistent with limitations provided by law or this Resolution. Accrued interest, if any, shall be deposited in the Bond Fund. Section 5. Investments of Bond Fund Proceeds. All moneys held in the Bond Fund, provided for by Section 3 of this Resolution shall be invested in investments permitted by Chapter 12B, Code of Iowa, 2003 (formerly Chapter 452, Code of Iowa, as amended) or deposited in financial institutions which are members of the Federal Deposit Insurance Corporation and the deposits in which are insured thereby and all such deposits exceeding the maximum amount insured from time to time by FDIC or its equivalent successor in any one financial institution shall be continuously secured in compliance with the State Sinking Fund provided under Chapter 12C of the Code of Iowa, 2003, as amended or otherwise by a valid pledge of direct obligations of the United States Government having an equivalent market value. All such interim investments shall -6- mature before the date on which the moneys are required for payment of principal of or interest on the Bonds as herein provided. Section 6. Bond Details, Execution and Redemption. (a) Bond Details. General Obligation Bonds, Taxable Series 2004, of the City in the amount of $7,305,000, shall be issued pursuant to the provisions of Section 403.12 of the City Code of Iowa for the aforesaid purpose. The Bonds shall be designated "GENERAL OBLIGATION BOND, TAXABLE SERIES 2004", be dated March 1, 2004, and bear interest from the date thereof, until payment thereof, at the office of the Paying Agent, said interest payable on December 1, 2004, and semiannually thereafter on the 1 st day of June and December in each year until maturity at the rates hereinafter provided. The Bonds shall be executed by the manual or facsimile signature of the Mayor and attested by the manual or facsimile signature of the Clerk, and impressed or printed with the seal of the City and shall be fully registered as to both principal and interest as provided in this Resolution; principal, interest and premium, if any, shall be payable at the office of the Paying Agent by mailing of a check to the registered owner of the Bond. The Bonds shall be in the denomination of $5,000 or multiples thereof. The Bonds shall mature and bear interest as follows: Interest Principal Maturity Rate Amount June 1 st 4.000% $315,000 2008 4.000% $330,000 2009 4.000% $340,000 2010 4.500% $355,000 2011 4.750% $370,000 2012 4.750% $385,000 2013 4.750% $405,000 2014 4.750% $425,000 2015 4.800% $450,000 2016 4.875% $475,000 2017 4.900% $500,000 2018 5.000% $525,000 2019 5.125% $555,000 2020 5.250% $590,000 2021 5.300% $625,000 2022 5.400% $660,000 2023 -7- (b) Redemption. Bonds maturing after June 1, 2013, may be called for redemption by the Issuer and paid before maturity on said date or any date thereafter, from any funds regardless of source, in whole or from time to time in part, in any order of maturity and within an annual maturity by lot. The terms of redemption shall be par, plus accrued interest to date of call. Thirty days' notice of redemption shall be given by ordinary mail to the registered owner of the Bond. Failure to give such notice by mail to any registered owner of the Bonds or any defect therein shall not affect the validity of any proceedings for the redemption of the Bonds. All bonds or portions thereof called for redemption will cease to bear interest after the specified redemption date, provided funds for their redemption are on deposit at the place of payment. If selection by lot within a maturity is required, the Registrar shall designate the bonds to be redeemed by random selection of the names of the registered owners of the entire annual maturity until the total amount of bonds to be called has been reached. Section 7. Issuance of Bonds in Book-Entry Form; Replacement Bonds. (a) Notwithstanding the other provisions of this Resolution regarding registration, ownership, transfer, payment and exchange of the Bonds, unless the Issuer determines to permit the exchange of Depository Bo~.ds for Bonds in the Authorized Denominations, the Bonds shall be issued as Depository Bonds in denominations of the entire principal amount of each maturity of Bonds (or, ifa portion of said principal amount is prepaid, said principal amount less the prepaid amount); and such Depository Bonds shall be registered in the name of Cede & Co., as nominee of DTC. Payment of semi-annual interest for any Depository Bond shall be made by wire transfer or New York Clearing House or equivalent next day funds to the account of Cede & Co. on the interest payment date for the Bonds at the address indicated in or pursuant to the Representation Letter. (b) With respect to Depository Bonds, neither the Issuer nor the Paying Agent shall have any responsibility or obligation to any Participant or to any Beneficial Owner. Without limiting the immediately preceding sentence, neither the Issuer nor the Paying Agent shall have any responsibility or obligation with respect to (i) the accuracy of the records of DTC or its nominee or of any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other person, other than DTC or its nominee, of any notice with respect to the Bonds, (iii) the payment to any Participant, any Beneficial Owner or any other person, other than DTC or its nominee, of any amount with respect to the principal of, premium, if any, or interest on -8- the Bonds, or (iv) the failure of DTC to provide any information or notification on behalf of any Participant or Beneficial Owner. The Issuer and the Paying Agent may treat DTC or its nominee as, and deem DTC or its nominee to be, the absolute owner of each Bond for the purpose of payment of the principal of, premium, if any, and interest on such Bond, for the purpose of all other matters with respect to such Bond, for the purpose of registering transfers with respect to such Bonds, and for all other purposes whatsoever (except for the giving of certain Bondholder consents, in accordance with the practices and procedures of DTC as may be applicable thereto). The Paying Agent shall pay all principal of, premium, if any, and interest on the Bonds only to or upon the order of the Bondholders as shown on the Registration Books, and all such payments shall be valid and effective to fully satisfy and discharge the Issuer's obligations with respect to the principal of, premium, if any, and interest on the Bonds to the extent so paid. Notwithstanding the provisions of this Resolution to the contrary (including without limitation those provisions relating to the surrender of Bonds, registration thereof, and issuance in Authorized Denominations), as long as the Bonds are Depository Bonds, full effect shall be given to the Representation Letter and the procedures and practices of DTC thereunder, and the Paying Agent shall comply therewith. (c) Upon (i) a determination by the Issuer that DTC is no longer able to carry out its functions or is otherwise determined unsatisfactory, or (ii) a determination by DTC that the Bonds are no longer eligible for its depository services or (iii) a determination by the Paying Agent that DTC has resigned or discontinued its services for the Bonds, the Issuer shall (A) designate a satisfactory substitute depository as set forth below or, ifa satisfactory substitute is not found, (B) provide for the exchange of Depository Bonds for replacement Bonds in Authorized Denominations. (d) If the Issuer determines to provide for the exchange of Depository Bonds for Bonds in Authorized Denominations, the Issuer shall so notify the Paying Agent and shall provide the Registrar with a supply of executed unauthenticated Bonds to be so exchanged. The Registrar shall thereupon notify the owners of the Bonds and provide for such exchange, and to the extent that the Beneficial Owners are designated as the transferee by the owners, the Bonds will be delivered in appropriate form, content and Authorized Denominations to the Beneficial Owners, as their interests appear. (e) Any substitute depository shall be designated in writing by the Issuer to the Paying Agent. Any such substitute depository shall be a qualified and registered "clearing agency" as provided in Section 17A of the Securities Exchange Act of 1934, as amended. The substitute depository shall provide for (i) immobilization of the Depository Bonds, -9- (ii) registration and transfer of interests in Depository Bonds by book entries made on records of the depository or its nominee and (iii) payment of principal of, premium, if any, and interest on the Bonds in accordance with and as such interests may appear with respect to such book entries. Section 8. Registration of Bonds; Appointment of Registrar; Transfer; Ownership; Delivery_; and Cancellation. (a) Registration. The ownership of Bonds may be transferred only by the making of an entry upon the books kept for the registration and transfer of ownership of the Bonds, and in no other way. The City Controller is hereby appointed as Bond Registrar under the terms of this Resolution. Registrar shall maintain the books of the Issuer for the registration of ownership of the Bonds for the payment of principal of and interest on the Bonds as provided in this Resolution. All Bonds shall be negotiable as provided in Article 8 of the Uniform Commercial Code and Section 384.31 of the Code of Iowa, subject to the provisions for registration and transfer contained in the Bonds and in this Resolution. (b) Transfer. The ownership of any Bond may be transferred only upon the Registration Books kept for the registration and transfer of Bonds and only upon surrender thereof at the office of the Registrar together with an assignment duly executed by the holder or his duly authorized attorney in fact in such form as shall be satisfactory to the Registrar, along with the address and social security number or federal employer identification number of such transferee (or, if registration is to be made in the name of multiple individuals, of all such transferees). In the event that the address of the registered owner of a Bond (other than a registered owner which is the nominee of the broker or dealer in question) is that ora broker or dealer, there must be disclosed on the Registration Books the information pertaining to the registered owner required above. Upon the transfer of any such Bond, a new fully registered Bond, of any denomination or denominations permitted by this Resolution in aggregate principal amount equal to the unmatured and unredeemed principal amount of such transferred fully registered Bond, and bearing interest at the same rate and maturing on the same date or dates shall be delivered by the Registrar. (c) Registration of Transferred Bonds. In all cases of the transfer of the Bonds, the Registrar shall register, at the earliest practicable time, on the Registration Books, the Bonds, in accordance with the provisions of this Resolution. (d) Ownership. As to any Bond, the person in whose name the ownership of the same shall be registered on the Registration Books of the Registrar shall be deemed and -104 regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal of any such Bonds and the premium, if any, and interest thereon shall be made only to or upon the order of the registered owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond, including the interest thereon, to the extent of the sum or sums so paid. (e) Cancellation. All Bonds which have been redeemed shall not be reissued but shall be cancelled by the Registrar. All Bonds which are cancelled by the Registrar shall be destroyed and a certificate of the destruction thereof shall be furnished promptly to the Issuer; provided that if the Issuer shall so direct, the Registrar shall forward the cancelled Bonds to the Issuer. (f) Non-Presentment of Bonds. In the event any payment check representing payment of principal of or interest on the Bonds is returned to the Paying Agent or if any bond is not presented for payment of principal at the maturity or redemption date, if funds sufficient to pay such principal of or interest on Bonds shall have been made available to the Paying Agent for the benefit of the owner thereof, all liability of the Issuer to the owner thereof for such interest or payment of such Bonds shall forthwith cease, terminate and be completely discharged, and thereupon it shall be the duty of the Paying Agent to hold such funds, without liability for interest thereon, for the benefit of the owner of such Bonds who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on his part under this Resolution or on, or with respect to, such interest or Bonds. The Paying Agent's obligation to hold such funds shall continue for a period equal to two years and six months following the date on which such interest or principal became due, whether at maturity, or at the date fixed for redemption thereof, or otherwise, at which time the Paying Agent, shall surrender any remaining funds so held to the Issuer, whereupon any claim under this Resolution by the Owners of such interest or Bonds of whatever nature shall be made upon the Issuer. (g) Registration and Transfer Fees. The Registrar may furnish to each owner, at the Issuer's expense, one bond for each annual maturity. The Registrar shall furnish additional bonds in lesser denominations (but not less than the minimum denomination) to an owner who so requests. Section 9. Reissuance of Mutilated, Destroyed, Stolen or Lost Bonds. In case any outstanding Bond shall become mutilated or be destroyed, stolen or lost, the Issuer shall at the request of Registrar authenticate and deliver a new Bond of like tenor and amount as the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond to Registrar, upon surrender of such mutilated Bond, or in lieu of and substitution for the Bond destroyed, stolen or lost, upon filing with the Registrar evidence -11- satisfactory to the Registrar and Issuer that such Bond has been destroyed, stolen or lost and proof of ownership thereof, and upon fumishing the Registrar and Issuer with satisfactory indemnity and complying with such other reasonable regulations as the Issuer or its agent may prescribe and paying such expenses as the Issuer may incur in connection therewith. Section 10. Record Date. Payments of principal and interest, otherwise than upon full redemption, made in respect of any Bond, shall be made to the registered holder thereof or to their designated agent as the same appear on the books of the Registrar on the 15th day preceding the payment date. All such payments shall fully discharge the obligations of the Issuer in respect of such Bonds to the extent of the payments so made. Payment of principal shall only be made upon surrender of the Bond to the Paying Agent. Section 11. Execution, Authentication and Delivery_ of the Bonds. Upon the adoption of this Resolution, the Mayor and Clerk shall execute and deliver the Bonds to the Registrar, who shall authenticate the Bonds and deliver the same to or upon order of the Purchaser. No Bond shall be valid or obligatory for any purpose or shall be entitled to any right or benefit hereunder unless the Registrar shall duly endorse and execute on such Bond a Certificate of Authentication substantially in the form of the Certificate herein set forth. Such Certificate upon any Bond executed on behalf of the Issuer shall be conclusive evidence that the Bond so authenticated has been duly issued under this Resolution and that the holder thereof is entitled to the benefits of this Resolution. Section 12. Right to Name Substitute Paying Agent or Registrar. Issuer reserves the right to name a substitute, successor Registrar or Paying Agent upon giving prompt written notice to each registered bondholder. -12- Section 13. Form of Bond. Bonds shall be printed in substantial compliance with standards proposed by the American Standards Institute substantially in the form as follows: i (7) I I (a) (1) [ (9) [ (9a) ] (10) (Continued on the back of this Bond) I (Ii)(12)(13) ] I (i4) I I (t>) I FIGURE1 (Front) -13- (10) (16) (Continued) FIGURE 2 (Back) -14- The text of the Bonds to be located thereon at the item numbers shown shall be as follows: Item 1, figure 1 = "STATE OF IOWA" "COUNTY OF JOHNSON" "CITY OF IOWA CITY" "GENERAL OBLIGATION BOND, TAXABLE SERIES 2004" Item 2, figure 1 = Rate: Item 3, figure 1 = Maturity: Item4, figure 1-- BondDate: March 1, 2004 Item 5, figure 1 = Cusip No.: Item 6, figure 1 = "Registered" Item 7, figure 1 -- Certificate No. Item 8, figure 1 = Principal Amount: $. Item 9, figure 1 = The City of Iowa City, Iowa, a municipal corporation organized and existing under and by virtue of the Constitution and laws of the State of Iowa (the "Issuer"), for value received, promises to pay from the source and as hereinafter provided, on the maturity date indicated above, to Item 9A, figure 1 = (Registration panel to be completed by Registrar or Printer with name of Registered Owner). Item 10, figure 1 = or registered assigns, the principal sum of (principal amount written out) THOUSAND DOLLARS in lawful money of the United States of America, on the maturity date shown above, only upon presentation and surrender hereof at the office of the City Controller, Iowa City, Iowa, Paying Agent of this issue, or its successor, with interest on said sum from the date hereof until paid at the rate per annum specified above, payable on December 1, 2004, and semiannually thereafter on the 1st day of June and December in each year. Interest and principal shall be paid to the registered holder of the Bond as shown on the records of ownership maintained by the Registrar as of the 15th day preceding such interest payment date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. This Bond is issued pursuant to the provisions of Section 403.12 of the City Code of Iowa, for the purpose of paying costs of aiding in the planning, undertaking and -15- carrying out of urban renewal projects under Chapter 403 of the Code of Iowa, and all of the purposes set out in Section 403.12 of the Code of Iowa, all in connection with the Plaza Towers Urban Renewal Project as specifically described in the agreement among the City and Plaza Towers, LLC and Marc Moen, Monica Moen and Michael Moen, in confomfity to a Resolution of the Council of said City duly passed and approved. THE HOLDERS OF THE BONDS SHOULD TREAT THE INTEREST THEREON AS SUBJECT TO FEDERAL INCOME TAXATION. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a limited purpose trust company ("DTC"), to the Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. Bonds maturing after June 1, 2013, may be called for redemption by the Issuer and paid before maturity on said date or any date thereafter, from any funds regardless of source, in whole or from time to time in part, in any order of maturity and within an annual maturity by lot. The terms of redemption shall be par, plus accrued interest to date of call. Thirty days' notice of redemption shall be given by ordinary mail to the registered owner of the Bond. Failure to give such notice by mail to any registered owner of the Bonds or any defect therein shall not affect the validity of any proceedings for the redemption of the Bonds. All bonds or portions thereof called for redemption will cease to bear interest after the specified redemption date, provided funds for their redemption are on deposit at the place of payment. If selection by lot within a maturity is required, the Registrar shall designate the bonds to be redeemed by random selection of the names of the registered owners of the entire annual maturity until the total amount of bonds to be called has been reached. Ownership of this Bond may be transferred 0nly by transfer upon the books kept for such purpose by the City Controller, the Registrar. Such transfer on the books shall occur only upon presentation and surrender of this Bond at the office of the Registrar as designated below, together with an assignment duly executed by the owner hereof or his -16- duly authorized attomey in the form as shall be satisfactory to the Registrar. Issuer reserves the right to substitute the Registrar and Paying Agent but shall, however, promptly give notice to registered bondholders of such change. All bonds shall be negotiable as provided in Article 8 of the Uniform Commercial Code and Section 384.31 of the Code of Iowa, subject to the provisions for registration and transfer contained in the Bond Resolution. And it is hereby represented and certified that all acts, conditions and things requisite, according to the laws and Constitution of the State of Iowa, to exist, to be had, to be done, or to be performed precedent to the lawful issue of this Bond, have been existent, had, done and performed as required by law; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the territory of the Issuer for the payment of the principal and interest of this Bond as the same will respectively become due; that the faith, credit, revenues and resources and all the real and personal property of the Issuer are irrevocably pledged for the prompt payment hereof, both principal and interest; and the total indebtedness of the Issuer including this Bond, does not exceed the constitutional or statutory limitations. 1N TESTIMONY WHEREOF, the Issuer by its Council, has caused this Bond to be signed by the facsimile signature of its Mayor and attested by the facsimile signature of its City Clerk, with the seal of said City printed hereon, and to be authenticated by the manual signature of an authorized representative of the Registrar, the City Controller, Iowa City, Iowa. Item 11, figure 1 = Date of authentication: Item 12, figure 1 = This is one of the Bonds described in the within mentioned Resolution, as registered by the City Controller. CITY CONTROLLER, Registrar By: Authorized Signature Item 13, figure 1 = Registrar and Transfer Agent: City Controller Paying Agent: City Controller SEE REVERSE FOR CERTAIN DEFINITIONS Item 14, figure 1 = (Seal) Item 15, figure 1 = [Signature Block] -17- CITY OF IOWA CITY, IOWA By: (facsimile signature) Mayor ATTEST: By: (facsimile signature) City Clerk Item 16, figure 2 = [Assignment Block] [Information Required for Registration] ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto (Social Security or Tax Identification No. .) the within Bond and does hereby irrevocably constitute and appoint attorney in fact to transfer the said Bond on the books kept for registration of the within Bond, with full power of substitution in the premises. Dated (Person(s) executing this Assignment sign(s) here) SIGNATURE ) GUARANTEED) IMPORTANT - READ CAREFULLY The signature(s) to this Power must correspond with the name(s) as written upon the face of the certificate(s) or bond(s) in every particular without alteration or enlargement or any change whatever. Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent. Such standards and procedures may require signature to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program. -18- INFORMATION REQUIRED FOR REGISTRATION OF TRANSFER Name of Transferee(s) Address of Transferee(s) Social Security or Tax Identification Number of Transferee(s) Transferee is a(n): Individual* Corporation Parmership Trust *If the Bond is to be registered in the names of multiple individual owners, the names of all such owners and one address and social security number must be provided. The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though written out in full according to applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with fight of survivorship and not as tenants in common IA UNIF TRANS MIN ACT - . ........... Custodian ............ (Cust) (Minor) under Iowa Uniform Transfers to Minors Act ................... (State) ADDITIONAL ABBREVIATIONS MAY ALSO BE USED THOUGH NOT IN THE ABOVE LIST Section 14. Contract Between Issuer and Purchaser. This Resolution constitutes a contract between said City and the purchaser of the Bonds. Section 1 $. Severability Clause. If any section, paragraph, clause or provision of this Resolution be held invalid, such invalidity shall not affect any of the remaining provisions hereof, and this Resolution shall become effective immediately upon its passage and approval. -19- Section 16. Continuing Disclosure. The Issuer hereby covenants and agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure Certificate, and the provisions of the Continuing Disclosure Certificate are hereby incorporated by reference as part of this Resolution and made a part hereof. Notwithstanding any other provision of this Resolution, failure of the Issuer to comply with the Continuing Disclosure Certificate shall not be considered an event of default under this Resolution; however, any holder of the Bonds or Beneficial Owner may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the Issuer to comply with its obligations under the Continuing Disclosure Certificate. For purposes of this section, "Beneficial Owner" means any person which (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bond (including persons holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes. Section 17. Repeal of Conflicting Resolutions or Ordinances. That all ordinances and resolutions and parts of ordinances and resolutions in conflict herewith are hereby repealed. PASSED AND APPROVED this 17th day of February 2004. Mayor Pro teni ATTEST: Ci~'~Clerk ' MMCGINLEYX398781\l\I0714.081 -20- CIG-3 9/91 CERTIFICATE STATE OF IOWA ) ) ss COUNTY OF JOHNSON ) I, the undersigned City Clerk of Iowa City, Iowa, do hereby certify that attached is a true and complete copy of the portion of the corporate records of said Municipality showing proceedings of the Council, and the same is a true and complete copy of the action taken by said Council with respect to said matter at the meeting held on the date indicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way; that meeting and all action thereat was duly and publicly held in accordance with a notice of meeting and tentative agenda, a copy of which was timely served on each member of the Council and posted on a bulletin board or other prominent place easily accessible to the public and clearly designated for that purpose at the principal office of the Council (a copy of the face sheet of said agenda being attached hereto) pursuant to the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by said law and with members of the public present in attendance; I further certify that the individuals named therein were on the date thereof duly and lawfully possessed of their respective city offices as indicated therein, that no Council vacancy existed except as may be stated in said proceedings, and that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the City or the right of the individuals named therein as officers to their respective positions. WITNESS my hand and the seal of said Municipality hereto affixed this 19th day of February ,2004. city ~lerk, Iowa City, Iowa SEAL