HomeMy WebLinkAbout1993-05-24-Special Minutes-------~--------------------~-----------------------------~-
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Plaruring &Zoning -Duroy.Meeting scheduled for 5/11/93.
Mayor's Report.June Council meetings will be held on the 14th and the 28th.
l\dministrator's Report.Motion by Councilman Gruber and seconded by Councilman Scott
to approve the Des Moines li:'ea Metropolitan Planning Organization's FY1994
Transportation Planning Work Program and Budget.Motion carried 5 to O.
Adjournment.Motion by Councilman Scott and seconded by CounciJman Bailey to adjourn.
Motion carried 5 to O.Meeting adjourned at 11:15 P.M.
ATTEST:
The May 24,1993 Waukee City Council special meeting was called to order at 7:06 P.M.
by Mayor Pro-Tern Donald L.Bailey,Jr.,with Bob Barrett present and taking minutes.
Roll was taken and the following CounciJmen were present:Ray Clark and Nick Gruber.
Mayor Rosenkranz and CounciJmen Duray and Scott were absent.
Staff and guests present were:Brian Redshaw,Robin Horkey,Bill Forbes,Dennis Hanes,
Oscar Stokka,Helen Lockwood,Joanna Werch,Ben Phillips,Ed Bowden and Patrick
Shepard.
App:roval Of 5/10 Minutes.Motion by Councilman Gruber and seconded by Councilman Clark
to approve the minutes of the May 10th Council rreeting as presented.Motion carried 3
to O.
Agenda Additions.Emergency blue lights in City Vehicles and Park Intern and sumner
part-time help.
Open Fbrum.None.
Bill !Presentation.Motion by CounciJman Clark and seconded by Councilman Gruber toseapprovepaymentofclaimssubmittedtotaling$30,551.51.Motion carried 3 to O..
Vendor Purpose Amount
AT &T LONGDISTANCESERVICE $33.33
ARATEXSERVICES POLICE MATCLEANINS 27.57
ARNEYELECTRONICS RADIO PART 75.00
ASPLUNDHTREE EXPERT 4/93 ONE CALL 120.15
BAERAG SUPPLY GRASS SEED 20.25
BATTERIES INCLUDED REPAIRS 137.75
BRCWNSUPPLY SUPPLIES 1,127.76
BUSINESS CCMMUNICATIONS RADIO REPAIR 42.00
CAPITOL CITY EQUIP MaJER BLADES 72.00
CENTRALIA EMS TRAINING 115.00
CLASSIC FLORAL FLC:IiVERS,PLANTS 91.50
COPYSYSTEMS COPIER MAINTENANCE 44.01
CREATIVEPRINTERS NEWSLETTERPRINTINS 118.00
DMASPHALT ASPHALT 395.12
DMSTAMPMFG PERMASTAMP 94.80
DITCH WITCH PARTS 33.33
DRUGIDENT.DRUGIDENTIFICATION 28.45
FARM&FAMILY SUPPLIES 69.48
GP TOOLS TOOLS 358.00
GALL'S INC.SPEAKER,MOUNT 310.47
GREATAMERICAN PARTS 271.31
HARVEYFLORAL PARKSSUPPLIES 107.63
FASTPROINTERNATIONAL MEDICALSUPPLIES 114.50
HOTSYCLEANING CLEANINGSUPPLIES 46.10
INTERSTATEBATTERY BATTERY 58.95
MIDWESTPaJER 5/93 USAGE 3,720.36
K'S MERCHANDISE VACCUM,FILTERS 124.65
KAR PRODUCTS SUPPLIES 632.37
LAVINE'S SALES SUPPLIES 60.50
MERRILLAXLE PARTS 275.58
METROUNIFORM SHIRTS 95.85
MID-STATES FORD PARTS 23.29
MIDWESTOFFICE TECH TYPEWRITER 643.00
MINE SAFETYAPPLIANCE GASCOPEREPAIR 72 •85
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MUNICIPALSUPPLY
OMAHAVALVE&FITTIN3
OVERHEADDOOR
PAYlESSCASHWAYS
PERFECTIONCORP
PIN OAKGALLERY
PRECISIONCG1PUTER
QUALITYFORD
QUIKPRINT
RCWELDING
RAJ<INDUSTRIES
GENEX
R-WAYCONCRETE
SPRAYERSPECIALTIES
SPRYAUTO
STOREY-KENWORTHY
TERRY-DURINCO.
MICHAELTODDCORP
TOYNE'SFIRE TRUCK
TWENTIETHCENTURY
US CELLULAR
US WEST
U OF I HYGIENIC
VEENSTRA&KIMM
WASHPOINTE
WASTEMANAGEMENT
WATERPROSUPPLIES
TOTAL
INTERROGATORBELT
VALVES
REPAIR
SUPPLIES
SUPPLIES
CANDLES
TRAINING
REPAIRS
PRINTING
REPAIR
SAFETYFLAGS
OXYGEN&ACETYLENE
CONCRETE
PARTS
REPAIR
PRINTERSTAND
LOCATOR
MESHVESTS
UNIFORMS
DEVELOPMENTBOOKS
CELLULARSERVICE
MONTHLYSERVICE
TESTIN3
PROFESSIONALSERVICES
AUTOWASHES
RECYCLIN3PICKUP
SUPPLIES
11.95
66.44
395.50
498.21
319.95
17 .99
100.00
386.10
66.00
25.00
276.65
103.86
181.50
45.72
583.79
237.14
1,744.40
50.50
641.50
122.35
90.72
562.20
90.00
13,732.74
128.74
125.00
386.65
$30,551.51
Approving And Authorizing A Loan Ag:rearent And Providing Fbr The Issuance Of $160.000
G.O.sewer Improvement Notes.The Council investigated and found that a notice of
intention to institute proceedings to enter into a loan agreement had been duly
published as provided by law and that this is the time and place at which the Council
shall receive oral or written objections from any resident or property owner of the
City.The City Clark announced that no written objections had been placed on file.
Whereupon,the Mayor Pro-Tern called for any written or oral objections,and there being
none,the Mayor Pro-Tern announced that the Council may authorize the loan agreement in
the amount as published.
After due consideration and discussion,Councilman Clark introduced the resolution
next hereinafter set out and moved its adoption,seconded by Councilman Gruber.The
Mayor Pro-Tem put the question upon the adoption of said resolution,and the roll being
called,the following Councilmen voted:Ayes:Bailey,Clark,Gruber.Nayes:none
recorded.Absent:Duroy,Scott.Motion carried 3 to o.Whereupon,the Mayor Pro-Tem
declared the resolution duly adopted as hereinafter set out.
Resolution No.256
Approving and authorizing a Loan Agreement and providing for the issuance of
$160,000 General Obligation Sewer Improvement Notes and providing for the levy
of taxes to pay the same.
WHEREAS,pursuant to the provisions of Section 384.24A of the Code of Iowa,the
City of Waukee,Iowa (the "City"),has heretofore proposed to contract indebtedness and
enter into a loan agreement in the principal amount of $160,000 (the "Loan Agreement")
to provide funds to pay the cost,to that extent,of the construction of works and
failities useful for the collection and disposal of sewage and industrial wastes in a
sanitary manner,inclUding the refunding of outstanding Warrants previously issued to
pay costs in connection therewith,.and has published notice of the proposed action and
has held a hearing thereon,and the Council may now authorize the Loan Agreement in the
amount published;
New,THEREFORE,Be It Resolved by the City Council of the City of Waukee,Iowa,as
follows:
Section 1.The City hereby determines to enter into the Loan AGreement with Ruan
Securities Corporation,Des Moines,Iowa,as lender (the "Lender"),-in substantially
the form as had been placed on file with the Council,providing for a loan to the City
in the principal amount of $160,000,at a discount of $3,200,for the purpose or
purposes set forth in preamble hereof.
The Mayor and City Clerk are hereby authorized and directed to sign the Loan
Agreement on behalf of the City,and the Loan Agreement is hereby approved.
Section 2.General Obligation Sewer Improvement Notes (the "Notes")are hereby
authorized to be issued in evidence of the obligation of the City under the Loan
Agreement in the total aggregate principal amount of $160,000,to be dated May 1,1993,
in the denomination of $5,000 each,or any integral multiple thereof,maturing on June
1 in each of the years,in the respective principal amounts and bearing interest at the
respective rates,as follows:
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Principal Interest Rate Year Principal Interest Rate
Year Arrount Per Annum Year Amount Per Annum
1995 $15,000 3.50%1999 $20,000 4.65%1996 $20,000 3.85%2000 $20,000 4.90%1997 $20,000 4.15%2001 $20,000 5.10%1998 $20,000 4.55%2002 $25,000 5.30%
Bankers Trust Companyof Des Moines,Iowa,is hereby designated as the RegistrarandPayingAgentfortheNotesandissometimeshereinafterreferredtoasthe"Registrar"or the "Paying Agent".
The City reserves the right to prepay part or all of the Notes maturing in each of
the years 2001 and 2002;prior to and in inverse order of maturity on June,1,2000,or
on any interest payment date thereafter upon terms of par and accrued interest.If
less than all of the Notes of any like maturity are to be redeemed,the particular part
of those Notes to be redeemedshall be -',,-J-ectedby the Registrar by lot.The Notes may
be called in part in one or more units of $5,000.If less than the entire principal
amount of any Note in a denomination of more than $5,000 is to be redeemed,the
Registrar will issue and deliver to the registered owner thereof,upon surrender of
such original Note,a new Note or Notes,in any authorized denomination,in a total
aggregate principal amount equal to the unredeemedbalance of the original Note.
Notice of such redemption as aforesaid identifying the Note or Notes (or portion
thereof)to be redeemed shall be mailed by certified mail to the registered owners
thereof at the addresses shown on the City's registration books not less than 30 nor
more than 45 days prior to such redemption date.All of such Notes as to which the
City reserves and exercises the right of redemption and as to which notice as aforesaid
shall have been given and for the redemption of which funds are duly provided,shall
cease to bear interest on the redemption date.
All of the interest on the Notes shall be payable Decerriber1,1993 and
semiannually thereafter on the first day of June and Decerriberin each year.Paymentof
interest on the Notes shall be made to the registered owners appearing on the
registration books of the City at the close of business on the fifteenth day of the
monthnext preceding the interest paymentand shall be paid by check or draft mailed to
the registered owners at the addresses shownon such registration books.Principal of
the Notes shall be payable in lawful money of the United States of America to the
registered owners or their legal representatives upon presentation and surrender of the
Note or Notes at the office of the Paying Agent.
The Notes shall be executed on behalf of the City with the official manual or
facsimile signature of the Mayor and attested with the official manual or facsimile
signature of the City Clerk and shall have the City's seal impressed or printed
thereon,and shall be f'ul.Iy registered Notes without interest coupons.In case any
officer whose signature or the facsimile of whose signature appears on the Notes shall
cease to be such officer before the delivery of the Notes,such signature or such
facsimile signature shall nevertheless be valid and sufficient for all purposes,the
sameas if such officer had remained in office until delivery"
The Notes shall not be valid or become obligatory for any purpose until the
Certificate of Authentication thereon shall have been signed by the Registrar.
The Notes shall be fully registered as to principal and interest in the names of the
owners on the registration books of the City kept by the Registrar,and after such
registration,paymentof the principal thereof and interest thereon shall be madeonly
to the registered owners or their legal representatives or assigns.Each Note shall be
transferable only upon the registration books of the City upon presentation to the
Registrar,together with either a written instrument of transfer satisfactory to the
Registrar or the assignment form thereon completed and duly executed by the registered
owneror the dUly authorized attorney for such registered owner.
The record and identity of the owners of the Notes shall be kept confidential as
provided by Section 22.7 of the Codeof Iowa.
Section 3.The Notes shall be in substantially the following form:
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UNITED STAlliS OF lIMERICA
STA'lE OF IewA COUNTY OF DALLAS
CITY OF WAUKEE
GENERAL CBLIGI\.TICN ~IMPROVEMENT NOTE
No._$,-----
RA'lE MA'IURITY DATE NOTE DA'lE CUSIP
May I,1993
The City of Waukee(the "City"),in the Countyof Dallas,State of Iowa,for value
received,promises to pay on the maturity date of this Note to
or registered assigns,the principal sumof
DOLLARS
in lawful moneyof the United States of Americaupon presentation and surrender of this
Note at the office of Bankers Trust Company,Des Moines,Iowa (hereinafter referred to
as the "Registrar"or the "Paying Agent"),with interest on said sum,until paid,at
the rate per annumspecified above from the date of this Note,or from the most recent
interest paymentdate on which interest has been paid,on June 1 and December1 of each
year,commencingDecemberI,1993 except as the provisions hereinafter set forth with
respect to redemption prior to maturity may be or becane applicable hereto.Interest
on this Note is payable to the registered owner appearing on the registration books of
the City at the close of business on the fifteenth day of the monthnext preceding the
interest payment date and shall be paid by check or draft mailed to the registered
ownerat the address shownon such registration books.
The Note shall not be valid or become obligatory for any purpose until the
certificate of Authentication hereon shall have signed by the Registrar.
This Note is one of a series of notes (the "Notes")issued by the City to evidence
its obligation under a certain Loan Agreement,dated as of May I,1993 (the "Loan
Agreement")entered into by the City for the purpose of providing funds to pay a
portion of the cost of the construction of works and facilities useful for the
collection and disposal of sewageand industrial wastes in a sanitary manner,including
the refunding of Wa=ants previously issued to pay costs in connection therewith.
The Notes are issued pursuant to and in strict compliancewith the provisions of
Chapter 384 and Chapter 76 of the Code of Iowa,1993,and all other laws amendatory
thereof and supplemental thereto,and in conformity with a resolution of the City
Council authorizing and approving the LoanAgreementand providing for the issuance and
securing the paymentof the Notes (the "Resolution"),and reference is hereby made to
the Resolution and the LoanAgreementfor a more complete statement as to the source of
paymentof the Notes and the rights of the owners of the Notes.
The City reserves the right to repay part or all of the Notes maturing in each of
the years 2001 and 2002,prior to and in inverse order of maturity on June I,2000,or
on any interest payment date thereafter upon tenns of par and accrued interest.If
less than all of the Notes of any like maturity are to be redeemed,the particular part
of those Notes to be redeemedshall be selected by the Registrar by lot.The Notes may
be called in part in one or more units of $5,000 is to be redeemed,the Registrar will
issue and deliver to the registered owner thereof,upon su=ender of such original
Note,a new Note or Notes,in any authorized denomination,in a total aggregate
principal amountequal to the unredeemedbalance of the original Note.Notice of such
redemption as aforesaid identifying the Note or Notes (or portion thereof)to be
redeemed shall be mailed by certified mail to the registered owners thereof at the
addresses shownon the City's registration books not less than 30 nor more than 45 days
prior to such redemption date.All of such Notes as to which the City reserves and
exercises the right of redemption and as to which notice as aforesaid shall have been
given and for the redemption of which funds are duly provided,shall cease to bear
interest on the redemption date.
This Note is fully negotiable but shall be fUlly registered as to both principal
and interest in the nameof the owner on the books of the City in the office of the
Registrar,after which no transfer shall be valid unless madeon said books and then
only upon presentation of this Note to the Registrar,together with either a written
instrument of transfer satisfacory to the Registrar or the assignment form hereon
completedand duly executed by the registered owneror the duly authorized attorney for
such registered owner.
The City,the Registrar and the Paying Agent may deem and treat the registered
owner hereof as the absolute owner for the owner for the purpose of receiving payment
of or on account of principal hereof,premium,if any,and interest due hereon and for
all other purposes,and the City,the Registrar and the Paying Agent shall not be
affected by any notice to the contrary.
Constitution of the State of Iowa,to exist,to be had,to be done or to be performed
precedent to and in the issue of this Note were and have been properly existent,had,
done and performed in regular and due form and time;that provision has been made for
the levy of a sufficient continuing annual tax on all the taxable property within the
City for the payment of the principal of and interest on this Note as the same will
respectively become due;that the faith,credit,revenues and resources and all the
real and personal property of the City are irrevocably pledged for the prompt payment
hereof,both principal and interest;and that the total indebtedness of the City,
including this Note,does not exceed any constitutional or statutory limitations.
IN TESTIMONYWHEREOF,the City of Waukee,Iowa,by its City Council,has caused
this Note to be sealed with the facsimile of its offical seal,to be executed with duly
authorized facsimile signature of its Mayor and attested with the duly authorized
facsimile signature of its City Clerk,all the first day of May,1993.
CITY OF WAUKEE,leMA
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And It Is Hereby Certified and Recited that all acts,conditions and things
required by the laws and
By Floyd W.Rosenkranz
MAYOR
Attest:
Brian J.Redshaw
City Clerk
(Facsimile Seal)
Registration Date:,_
REGISTRARIS CERTIFICATEOF AUTHENTICATION
This Note is one of the Notes described in the within-mentioned Resolution.
BANKERSTRUSTCCMPANY
Des Moines,Iowa
Registrar -
By----;--,-;-;-:_:o=-:-:;-:,,-;=;,..-~-----Authorized Officer
The following abbreviations,When used in this Note,shall be construed as though
they were written out in full according to applicable laws or regulations:
TENCCM-
TENENT -
JT TEN -
as tenants in common
as tenants by the entireties
as joint tenants with
right of survivorship and
not as tenants in comrron
U T M A _---,=----;-~-~------(Custodian)
As Custodian for ---;=----:--.-_
(Minor)
under Uniform Transfers to Minors Act
(State)
Additional abbreviations may also be used though not in the list above.
l\SSI~
For valuable consideration,receipt of which is hereby acknowledged,the
undersigned assigns this Note to
(Please print or type name and address of Assignee)-
PLEASEINSERTSOCIALSECURITYOR OTHER
IDENTIFYINGNUMBEROF ASSIGNEE
and does hereby irrevocably appoint_=c::-==c::-==c-:;;=c-:::=::o-::==-;-:::=-==::-::-c-:==",=;-Attorney,to transfer this Note on the books kept for registration thereof with full
power of substitution.
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Dated:~
Signature guaranteed:
(Signature guarantee must be provided in accordance
with the prevailing standards and procedures of the
Registrar and Transfer Agent.Such standards and
procedures mayrequire signatures to be guaranteed
by certain eligible guarantor institutions that
participate in a recognized signature guarantee
program.)
NOTICE:The signature to this Assigrnnent
must =rrespond with the nameof the
registered owneras it appears on this
Note in every particular,without
alternation or enlargementor any change
whatever.
Section 4.The Notes shall be executed as herein provided as soon after the
adoption of this resolution as may be possible,and thereupon they shall be delivered
to the Registrar for registration,authentication and delivery to the Lender,upon
receipt of the loan proceeds,and all action heretofore taken in connection with the
LoanAgreementis hereby ratified and confirmed in all respects.
Section 5.For the purpose of providing for the levy and collection of a direct
annual tax sufficient to pay the principal of and interest on the Notes as the same
becomedue,there is hereby ordered levied on all the taxable property in the City in
each of the years while the Notes are outstanding,a tax sufficient for that purpose,
and in furtherance of this provision,but not in limitation thereof,there is hereby
levied on all the taxable property in the City the following direct annual tax for
collection in each of the following fiscal years,to-wit:
For collection in the fiscal year beginning July 1,1994,
sufficient to produce the net annual sumof $30,188,
For collection in the fiscal year beginning July 1,1995,
sufficient to produce the net annual sumof $26,765;
For collection in the fiscal year beginning July 1,1996,
sufficient to produce the net annual sumof $25,995,
For collection in the fiscal year beginning July 1,1997,
sufficient to produce the net annual sum$25,165,
For collection in the fiscal year beginning July 1,1998,
sufficient to produce the net annual sumof $24,255;
For collection in the fiscal year beginning July 1,1999,
sufficient to produce the net annual sumof $23,325;
For collection in the fiscal year beginning July 1,2000,
sufficient to produce the net annual sumof $22,345,
For collection in the fiscal year beginning July 1,2001,
sufficient to produce the,net annual sumof $26,325.
Section 6.A certified copy of this resolution shall be filed with the County
Auditor of Dallas County,and the Auditor is hereby instructed to enter for collection
and assess the taxes hereby authorized.When annually entering such taxes for
collection,the County Auditor shall include the same as a'part of the tax levy for
Debt Service Fund purposes of the City and when collected,the proceeds of the taxes
shall be convented into the Debt Service Fund of the City and set aside therein as a
special account to be used solely and only for the payment of the principal of and
interest on the Notes hereby authorized and for no other purpose whatsoever.Any
amountreceived by the City as accrued interest on the Notes shall be deposited into
such special account and used to pay principal of and/or interest due on the Notes on
the first paymentdate.
Section 7.The interest or principal and both of them falling due in any year or
years shall,if necessary,be paid promptly from current funds on hand in advance of
taxes levied and when the taxes shall have been collected,reimbursementshall be made
to such current;funds in the sumthus advanced.
The City hereby pledges the faith,credit,revenues and resources and all of the
real and personal property of the City for the full and prorrn::>toaymentof the principal
of and interest on the Notes.
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Section 8.It is the intention of the City that interest on the Notes be and
remain excluded fran gross incane for federal income tax purposes pursuant to the
appropriate provisions of the Internal Revenue Code of 1986,as amended,and the
Treasury Regulations in effect with respect thereto (all of the foregoing herein
referred to as the "Internal Revenue Code").In furtherance thereof,the City
covenants to comply with the provisions of the Internal RevenueCode as they may from
time to time be in effect or amended and further covenants to comply with the
applicable future laws,regulations,published rulings and court decisions as may be
necessary to insure that the interest on the Notes will remain excluded fran gross
incane for federal incane tax purposes.Any and all of the officers of the City are
hereby authorized and directed to take any and all actions as may be necessary to
canply with the covenants herein contained.
The City hereby designates the Notes as "Qualified Tax ExemptObligations"as that
term is used in Section 265(b)(3)(B)of the Internal RevenueCode.
Section 9.All resolutions or parts thereof in conflict herewith are herebyrepealedtotheextentofsuchconflict.
Passed and approved May24,1993.
Floyd W.Rosenkranz
Mayor
ATTEST:
Brian Redshaw
City Clerk
Approvinglind Authorizing A Loan Agreenent lind Providing For TIle Issuance Of $135,000
S.A.Sewer Inprovement N:ltes.The Council investigated and found that a notice of
intention to institute proceedings to enter into a loan agreement had been du.Iy
published as provided by law and that this is the time and place at which the Council
shall receive oral or written objections from any resident or property owner of the
City.The City Clerk announced that no written objections had been placed on file.
Whereupon,the MayorPro-Temcalled for any written or oral objections,and there,being
none,the MayorPro-Temannouncedthat the Council may authorize the loan agreement intheamountaspublished.
After due consideration and discussion,Councilman Gruber introduced the
resolution next hereinafter set out and moved its adoption,seconded by Councilman
Clark.The Mayor Pro-Temput the question upon the adoption of said resolution,and
the roll being called,the following Councilmenvoted:Ayes:Bailey,Clark,Gruber.
Nayes:none recorded.Absent:Duroy,Scott.Motion carried 3 to O.Whereupon,the
MayorPro-Temdeclared the resolution duly adopted as hereinafter set out.
Resolution No.257
Approvingand authorizing a LoanAgreementand providing for the issuance of
$135,000 Special Assessment Sewer ImprovementNotes
WHEREAS,heretofore and in strict compliance with the provisions of Chapter 384 of
the Code of Iowa,the City Council of the City of Waukee,in Dallas County,Iowa (the
"City")confirmed,levied and certified for collection to the County Treasurer of
Dallas County special assessments on various lots and tracts of land within the City by
reason of the Hickman Road Trunk Sewer Project (the "Project"),such assessmentstotalingthesumof$317,684.99;and
WHEREAS,up to and inclUding February 26,1993,$26,151.39 of such assessments
were paid,Leavanq a balance of assessments outstanding and unpaid as of such date intheamountof$158,958.24;and
WHEREAS,$12,820.99 of such special assessments are against property ownedby the
City;there are no unpaid assessments of less than $50 each;there are no assessments
appeal from;there are no unpaid assessments on property on which there are outstanding
tax sale certificates;there are no unpaid assessments on property on which there is a
suspension of the collection of taxes;and there are unpaid assessments on agricultural
property for which deferments have been requested in the amountof $132,575.36,leaving
a balance of assessments in the amount of $146,137.25 which are against privatepropertyandremainoutstandingandunpaid;and
WHEREAS,pursuant to the provisions of Section 384.24Aof the Code of Iowa,the
City has heretofore proposed to enter into a Loan agreement (the "LoanAgreement")and
borrow moneyin the principal amountof $135,000 to provide funds to pay the cost,to
that extent,of constructing the Project,including the refunding of outstanding
Warrants previously issued by the City to pay costs in connection therewith,and has
published notice of the proposed action and has held a hearing thereon,and the Council
maynowauthorize the Loan Agreementin the amountas published;
NOiJ,THEREFORE,Be It Resolved by the City Council of the City of Waukee,Iowa,asfollows:
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Section 1.The City hereby determines to enter into the LoanAgreementwith Ruan
Securities Corporation,Des Moines,Iowa,as lend (the "Lender"),in substantially the
form attached hereto,providing for a loan to the City in the principal arrount of
$135,000,for the purpose or purposes set forth in the preamble hereof.
The Mayor and City Clerk are hereby authorized and directed to sign the Loan
Agreementon behalf of the City,and the LoanAgreementis hereby approved.
Section 2.Special Assessment Sewer ImprovementNotes (the "Notes")are hereby
authorized to be issued in evidence of the Obligation of the City under the Loan
Agreement,in the total aggregate principal amount of $135,000,to be dated May 1,
1993,in the denomination of $5,000 each,or any integral multiple thereof,maturing on
December1 in each of the years,in the respective principal amounts and bearing
interest at the respective rates,as follows:
Principal Interest Rate Principal Interest Rate
Year Amount Per Annum Year Amount Per Annum
1993 $10,000 4%1998 $15,000 5.10%
1994 $10,000 4.25%1999 $15,000 5.20%
1995 $10,000 4.50%2000 $15,000 5.30%
1996 $15,000 4.75%2001 $15,000 5.40%
1997 $15,000 5 '"2002 $15,000 5.50%."
Bankers Trust Companyof Des Moines,Iowa,is hereby designated as the Registrar
and Paying Agent for the Notes and maybe hereinafter referred to as the "Registrar"or
the "Paying Agent".
The City reserves the right to prepay part or all of the Notes maturing in each of
the years 1994 to 2002,inclusive,prior to and in order of maturity on or within 45
days after December1 in each of the years 1993 to 2001,inclusive,upon terms of par
and accrued interest.If less than all of the Notes of any like maturity are to be
redeemed,the particular part those Notes to be redeemed shall be selected by the
Registrar by lot.The Notes maybe called in part in one or more units of $5,000.If
less than the entire principal amountof any Note in a denominationof more than $5,000
is to be redeemed,the Registrar will issue and deliver to the registered owner
thereof,upon surrender of such original Note,a newNote or Notes,in any authorized
denomination,in a total aggregate principal amountequal to the unredeemedbalance of
the original Note.Notice of such redemption as aforesaid identifying the Note or
Notes (or portion thereof)to be redeemed shall be mailed by certified mail to the
registered owners thereof at the addresses shownon the City's registration books not
less than 30 nor more than 45 days prior to such redemption date.All of such Notes as
to which the City reserves and exercises the right of redemption and as to which notice
as aforesaid shall have been given and for the redemption of which funds are duly
provided,shall cease to bear interest on the redemtpion date.
All of the interest on the Notes shall be payable December1,1993,and annually
thereafter on the first day of Decemberin each year.Paymentof interest on the Notes
shall be made to the registered owners appearing on the registration books of the City
at the close of business on the fifteenth day of the month next preceding the interest
paymentdate and shall be paid by check or draft mailed to the registered owners at the
addresses shownon such registration books.Principal of the Notes shall be payable in
lawful moneyof the United States of America to the registered owners or their legal
representativies upon presentation and surrender of the Note or Notes at the office of
the Paying Agent.
The Notes shall be executed on behalf of the City with the official manual or
facsimile signature of the Mayorand attested with the official manual or facsimile
signature of the City Clerk and shall have the City's seal impressed or printed
thereon,and shall be fully registered Notes without interest coupons.In case any
officer whose signature or the facsimile of whose signature appears on the Notes shall
cease to be such officer before the delivery of the Notes,such signature or such
facsimile signature shall nevertheless be valid and sufficient for all purposes,the
sameas if such officer had remained in office until delivery.
The Notes shall not be valid or become obligatory for any purpose until the
Certificate of Authentication thereon shall have been signed by the Registrar.
The Notes shall be fully registered as to principal and interest in the names of
the owners on the registration books of the City kept by the Registrar,and after such
registration,payment of the principal thereof and interest thereon shall be madeonly
to the registered owners or their legal representatives or assigns.Each Note shall be
transferable only upon the registration books of the City upon presentation to the
Registrar,together with either a written instrument of transfer satifactory to the
Registrar or the assignment form thereon canpleted and duly executed by the registered
owneror the duly authorized attorney for such registered owner.
The record and identity of the owners of the Notes shall be kept confidential as
provided by Section 22.7 of the Codeof Iowa.
Section 3.The Notes shall be in substantially the following form:
DOLLARS
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UNITED STA'IES OF AMERICA
STA'JE OF ICMA <XlUNTY OF DALIJ\S
CITY OF WAIl!<EE
SPECIAL ASSESSMENT ~IMPRClIJEMENT NOl'E
(HICKMAN ROI\D TRUNK ~PRillECl')
No.$_
RATE MATURITYDATE NOIEDATE CUSIP
May1,1993
'Ihe City of Waukee(the "City"),in the Countyof Dallas,State of Iowa,for value _
received,promises to pay on the maturity date of this Note to
or registered assigns,the principal sumof
in lawful moneyof the United States of Arrerica upon presentation and surrender of this
Note at the Office of Bankers Trust Company,Des Moines,Iowa (hereinafter referred to
as the "Registrar"or the "Paying Agent"),with interest on said sum,until paid,at
the rate per annumspecified above f'romthe date of this Note,or from the most recent
interest payment date on which interest has been paid,on Decerriber1 of each year,
commencingDecember 1,1993,except as the provisions hereinafter set forth with
respect to redemption prior to maturity may be or becomeapplicable hereto.Interest
on this Note is payable to the registered owner appearing on the registration books of
the City at the close of business on the fifteenth day of the monthnext preceding the
interest payment date,and shall be paid by check or draft mailed to the registered
owner at the address shownon such registration books.
'Ihis Note shall not be valid or become obligatory for any purpose until the
Certificate of Authentication hereon shall have been signed by the Registrar.
'Ihis Note is one of a series of notes (the "Notes")issued by the City to evidence
its obligation under a certain Loan Agreement,dated as of May 1,1993 (the "Loan
Agreement")entered into by the City for the purpose of providing funds to pay a
portion of the cost of constructing the Hickman Road Trunk Sewer Project (the
"Project"),including the refunding of Warrants previously issued by the City to pay
costs in connection therewith.
'Ihe cost of the Project,specially assessed,is payable by the properties
benefited by the Project and is made by law a lien upon all such property benefited
thereby.The amount so levied upon the property is payable in ten equal annual
installments with interest on all deferred payments,and this Note is payable only out
of the special assessment fund created by the collection of said special tax,which
fund cannot be used for any other purpose so long as this Note or any of the Notes are
outstanding and unpaid.
'Ihe Notes are issued pursuant to and in strict compliance with the provisions of
Chapter 384 of the Code of Iowa,1993,and all other laws amendatory thereof and
supplemental thereto,and in conformity with a resolution of the City Council
authorizing and approvdnq the Loan Agreement and providing for the issuance and
securing the payment of the Notes (the "Resolution"),and reference is hereby made to
the Resolution and the Loan Agreementfor a more complete statement as to the source of
paymentof the Notes and the rights of the owners of the Notes.
The City reserves the right to prepay part or all of the Notes maturing in each of
the years 1994 to 2002,inclusive,prior to and in order of maturity on or within 45
days after Decerriber1 in each of the years 1993 to 2001,inclusive,upon terms of par
and eccrued interest.If less than all of the Notes of any like maturity are to be
redeemed,the particular part of those Notes to be redeemed shall be selected by the
Registrar by lot.'Ihe Notes maybe called in part in one or more units of $5r 000.If _
less than the entire principal amountof any Note in a denominationof more than $5,000
is to be redeemed,the Registrar will issue and deliver to the registered owner
thereof,upon surrender of such original Note,a new Note or Notes,in any authorized
denomination,in a total aggregate principal arrount equal to the unredeemedbalance of
the original Note.Notice of such redemption as aforesaid identifying the Note or
Notes (or portion thereof)to be redeemed shall be mailed by certified mail to the
registered owners thereof at the addresses shownon the City's registration books not
less than 30 nor more than 45 days prior to such redemption date.All of such Notes as
to which the City reserves and exercises the right of redemption and as to which notice
as aforesaid shall have been given and for the redemption of which funds are duly
.provided,shall cease to bear interest on the redemption date.
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The Note is fully negotiable but shall be fUlly registered as to both principal
and interest in the name of the owner on the books of the City in the office of the
Registrar,after which no transfer shall be valid unless made on said books and then
only upon presentation of this Note to the Registrar,together with either a written
instrument of transfer satisfactory to the Registrar or the assignment form hereon
completed and duly executed by the registered owner or the dUly authorized attorney for
such registered owner..
The City,the Registrar and the Paying Agent may deem and treat the registered
owner hereof as the absolute owner for the purpose of receiving payment of or on
account of principal hereof,premium,if any,and interest due hereon and for all other
purposes,and the City,the Registrar and the Paying Agent shall not be affected by any
notice to the contrary.
And It Is Hereby Certified and Recited that all acts,conditions and things
required by the laws and Constitution of the State of Iowa,to exist,to be had,to be
done or to be performed precedent to and in the issue of this Note were and have been
properly existent,had,done and performed in regular and due form and time;and that
for the assessment,collection and payment hereon of the aforesaid special tax,the
full faith and diligence of the City are hereby irrevocably pledged.
IN TESTIMCNYWHEREOF,the City of Waukee,Iowa,by its City Council,has caused
this Note to be sealed with the facsimile of its official seal,to be executed with the
duly authorized facsimile signature of its Mayor and attested with the duly authorized
facsimile signature of its City Clerk,all the first day of May,1993.
CITY OF WAUKEE,IONA
By Floyd W.Rosenkranz
MAYOR
ATTEST:
Brian Redshaw
City Clerk
(Seal)
Registration Date :_
REGISTRAR'SCERTIFICATEOF AUTHENTICATION
This Note is one of the Notes described in the within-mentioned Resolution.
BANKERSTRUSTCCMPANY
Des Moines,Iowa
Registrar
By-=A-u7t'"""h-or-=i-zed---"-O""""f""b7•c-e-r------------
ABBREVIATIONS
The following abbreviations,when used in this Note,shall be construed as though
they were written out in full according to applicable laws or regulations:
TENCCM-
TENENT -
TEN-
as tenants in common
as tenants by the entireties
as joint tenants with
right of survivorship and
not as tenants in common
UTMAAseu:----:-S"-t-:-od""l"-'a-n---,f~o-r-------------
(Minor)
under Uniform Transfers to Minors Act
(State)
Additional abbreviations may also be used though not in the list above.
ASSIGM1ENT
For valuable consideration,receipt of which is hereby acknowledged,the
undersigned assigns this Note to
(please print or type name and address of Assignee)
PLEASEINSERTSOCIALSECURITYOR OTHER
IDENTIFYINGNUMBEROF ASSIGNEE
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Park Intern And S!:lmTer Part-Time He1p.Motion by Councilman Gruber and seconded by
Councilman Clark to name Reid A.Scholes as Park Intern reporting directly to Brian
Redshaw and to authorize the hiring of two additional part-time aurrre.r employees at a
maximumof 32 hours per week.The Mayor Pro-Tern put the question upon the motion and
the roll being called,the following Councilmen voted:Ayes:Bailey,Clark,Gruber.
Nayes:none recorded.Absent:Duroy,Scott.Motion carried 3 to O.
Gas Department 'lbrpedo Purchase.Because of the wet weather Harry has been unable to
test the equipment.Tests have been scheduled and a recommendation will be made at the
next regular Council Meeting.
Required Site Surveys.The Council asked for legal clarification and liability
assessment before considering any changes in policy.
1993 Street 1rrpJ:oveIrents.Bill Forbes reviewed his 1993 Street Program summary and
answered questions.Motion by Councilman Clark and seconded by Councilman Gruber to
have Veenstra &Kimm prepare an engineering services agreement for the 1993 Street
Program to be considered by the Council on June 14th.The Mayor Pro-Tem put the
question upon the motion and the roll being called,the following Councilmen voted:
Ayes:Bailey,Clark,Gruber.Nayes:none recorded.Absent:Duray,Scott.Motion
ca=ied 3 to O.
Hickman West Industria1 Park 1rrpJ:oveIrents.Motion by Councilman Gruber and seconded by
Councilman Clark to set June 2,1993 at 7:00 P.M.in City Hall as the time and place
for a special Council meeting to set a public hearing for the Hickman West Industrial
Park improvements.Motion carr-Ied 3 to O.
Windfie1d P1at II Construction Drawings And PreJ.:iminary P1at.Action delayed until
Paul can get clarification on amount.of bond offered for installation of Laurel Street.
Councilman Curt Scott a=ived at 8:19 P.M.
V &K Mapping Update.Motion by Councilman Gruber and seconded by Councilman Scott to
approve the V &K proposal for a geobase mapping/digitizing parcel update at a not-to-
exceed cost of $1,600.00.The Mayor Pro-Tern put the question upon the motion and the
roll being called,the following Councilmen voted:Ayes:Bailey,Clark,Gruber,Scott.
Nayes:none recorded.Absent:Duray.Reso1ution #259 ca=ied 4 to O.
Jim Broderick Water1ine Extension.Motion by Councilman Gruber and seconded by
Councilman Clark to approve installation of water serv·ice to Jim Broderick.The Mayor
Pro-Tem put the question upon the motion and the roll being called,the follow.i.ng
Councilmen voted:Ayes:Bailey,Clark,Gruber,Scott.Nayes:none recorded.Absent:
Duroy.Motion carried 4 to O.
Ordinance Updates.Larry Phillips and Rick Huscher are meeting to review and update
ordinances relating to stop signs,speed zones,parking,etc.,and possible Criminal
Code Updates.
Motion by Councilman Scott and seconded by Councilman Gruber to send a letter to the
Dallas County Supervisors expressing strong opposition to allowing strip bars in the
County and to urge the Supervisors to take appropriate action to regulate this
activity.Motion carried 4 to O.
Mayor Rosenkranz a=ived at 9:02 P.M.
Street Sweeping Proposa1s.Three proposals fran private firms to clean City streets
were reviewed.The Mayor will contact Dallas Center about renting their sweeper.
B1ue Lights In City Vehic1es.Motion by Councilman Gruber and seconded by Councilman
Bailey to allow blue lights in City vehicles for the safety of City Employees
responding to emergency calls.Motion carr-ted 4 to O.
Mosquito Spraying.Motion by Councilman Bai1ey and seconded by Councilman SCott to
beginn spIaying as soon as can be arrartged.Motion ca=ied 4 to O.
Public safety -Gruber.Printed report received.
Library Report:-sa;J ey.Printed Library Board minutes were received;also a calendar
of May Library events,a summary of April Library activity,and a letter exp1aining the
Waukee Public Library Foundation.
Mrrrinistrators Report.Motion by Councilman Clark and seconded by Councilman Gruber to
send Brian to the Iowa City Managers Association Summer Conference in Marion June 9-
11,1993.Motion carr Led 4 to O.
A special Council meeting will be held June 19th at 8:00 A.M.in City Hall to discuss
Developer Policy and the rural water study.
Ed Bowden,representing the United Methodist Church,informed the Council that their
property is for sale and invited the Council to explore the possibility of acquiring
the property for City use.
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and does hereby i=evocably appcdrrt_---.,-.,---_~~.,-,__."..._=--'Attorney,to transfer this
Note on the books kept for registration thereof with full power of substitution.
Dated:._
Signature guaranteed:
(Signature guarantee must be provided in accordance with
.the prevailing standards and procedures of the Registrar
and Transfer Agent.Such standards and procedures mayrequire
signatures to be guaranteed by certain eligible guarantor
institutions that participate in a recognized signature
guarantee prc:>g:rCl£l1,)
NJrICE:The signature to this Assigmentmust
correspond with the nameof the registered owner
as it appears on this Note in every partiCUlar,
without alteration or enlargement or any change
whatever.
Section 4.The Notes shall be executed as herein provided as soon after the
adoption of this resolution as may be possible,and thereupon they shall be delivered to
the Registrar for registration,authentication and delivery to the Lender,upon receipt
of the loan proceeds,and all action heretofore taken in connection with the Loan
Agreementis hereby ratified and confirmed in all respects.
Section 5.There is hereby a special fund to be knownas the "HickmanRoad Truck
Sewer Project Note Fund"(the "Special Assessment Note Fund"),and all moneyscollected
on the outstanding special assessments hereinabove referred to shall be paid into the
Special Assessment Note Fund and used for the pU:LP0seof paying the principal of and
interest on the Notes as they severally mature and for no other purpose,except that
after all of the Notes and the interest thereon have been paid,any excess of the
proceeds from such special assessments may be credited to the fund from which
deficiencies for the Project,if any,could have been paid,as provided in Section 384.68
(5)of the Code of Iowa.Any amount received by the City as accrued interest on the
Notes shall be deposited into the Special AssessmentNote Fund and used to pay principal
of and/or interest on the Notes due on the first paymentdate.
Section 6.It is the intention of the City that interest on the Notes be and remain
excluded from gross income for federal income tax purposes pursuant to the appropriate
provisions of the Internal RevenueCodeof 1986,as amended,and the Treasury Regulations
in effect with respect thereto (all of the foregoing herein refe=ed to as the "Internal
RevenueCode").In furthermore thereof,the City covenants to complywith the provisions
of the Internal RevenueCode as they may from time to time be in effect or amendedand
further covenants to comply with the applicable future laws,regulations,pub.Li.shed
rulings and court decisions as maybe necessary to insure that the interest on the Notes
will remain excluded from gross income for federal income tax purposes.Anyand all of
the officers of the City are hereby authorized and directed to take any and all actions
as maybe necessary to complywith the convenants herein contained.
The City hereby designates the Notes as "Qualified Tax ExemptObligations"as that
term is used in Section 265(b)(3)(B)of the Internal RevenueCode.
Section 7.All resolutions or parts thereof in conflict herewith be and the same
are hereby repealed to the extent of such conflict.
Passed and approved May24,1993
Floyd W.Rosenkranz
MAYOR
ATTEST:
;7k ::LiJS EJe...."\0 to TO P 0 F
P~\l10~S PA-b£"
FY92-93 Budget lImendmentHearing.After reviewing the proposed budget changes,
CouncilmanClark movedadoption of Resolution No.258 approving FY92-93budget amendments
totaling $584,369.,seconded by CouncilmanGruber.The MayorPro-tern put the question upon
the motion and the roll being called,the following Councilmenvoted:Ayes:Bailey,Clark,
Gruber.Nayes:none recorded.Absent:Duray,Scott.Motion carried 4 to O.
City Clerk
Brian J.Redshaw
Adjournment.Motin by CouncilmanGruber and seconded by CouncilmanScott to adjourn.
Motion carried 4 to O.Meeting adjourned at 9:3 P.M.,)0:/,
•Rosenkranz,Ma r