HomeMy Public PortalAboutORD11197 BILL NO. 88-187
® SPONSORED BY COUNCILMAN HALSEY
ORDINANCE NO. 1119'7
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AN CITY CLERK TO EXECUTE A NOTE WITH CENTRAL BANK AND ANY
OTHER NECESSARY DOCUMENTS IN CONNECTION WITH THE ACQUISITION OF
ASSETS FROM COLE COUNTY REGIONAL SEWER DISTRICT.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI,
AS FOLLOWS:
Section 1. The Mayor and City Clerk are hereby authorized and
directed to execute a note with Central Bank and any other
necessary documents in connection with the acquisition of assets
from Cole County Regional Sewer District for a sum not to exceed
$882, 333 .33.
Section 2. This note shall be substantially the same in form
and content as that note attached hereto as Exhibit A. The note
is subject to annual appropriations.
Section 3. The City will comply with all applicable
provisions of the Internal Revenue Code of 1986 (the "Code") ,
including Section 103 thereof, and the regulations of the Treasury
Department thereunder, from time to time proposed or in effect, in
order to maintain the exclusion from gross income for purposes of
federal income taxation of the interest on the note.
The City covenants and agrees that it will use the proceeds
of the note as soon as practicable and with all reasonable dispatch
for the purpose for which the note is issued as hereinbefore set
forth, and that no part of the proceeds of the note shall be
invested in any securities, obligations or other investments except
for the temporary period pending such use nor used, at any time,
directly or indirectly, in a manner which, if such use had been
reasonably anticipated on the date of issuance of the note, would
have caused any of the note to be or become an "arbitrage bond"
within the meaning of Section 103 (b) (2) or Section 148 of the Code
and the regulations of the Treasury Department thereunder proposed
or in effect at the time of such use and applicable to obligations
issued on the date of issuance of the note.
The City represents and warrants that (i) it is a governmental
unit under Missouri law with general taxing powers, (ii) the note
is not a private activity bond as defined in Section 141 of the
Code, (iii) 95% or more of the net proceeds of the note will be
used for local governmental activities of the City and (iv) the
aggregate face amount of all tax-exempt notes and bonds (other than
private activity bonds) issued by the City (and all subordinate
entities thereof) during the calendar year 1989 is not reasonably
expected to exceed $5,000,000. The City hereby covenants that the
City and all its subordinate entities will not issue in excess of
$5,000,000 of tax-exempt notes and bonds (including the note but
excluding private activity bonds) during the calendar year 1989
without first obtaining an opinion of nationally recognized counsel
in the area of municipal finance that the excludability of the
interest on the note from gross income for federal tax purposes
will not be adversely affected.
The City hereby designates the note as a "qualified tax-exempt
obligation" as defined in Section 265 (b) (3) (B) of the Code. The
aggregate face amount of all tax-exempt obligations (excluding
private activity bonds other than qualified 501(c) (3) bonds) issued
or to be issued by the City (and all subordinate entities thereof)
during calendar year 1989 is not reasonably expected to exceed
$10,000,000. The City hereby covenants that the City and all its
subordinate entities will not issue in excess of $10, 000,000 of
qualified tax-exempt obligations (including the note but excluding
private activity bonds other than qualified 501(c) (3) bonds) during
the calendar year 1989 without first obtaining an opinion of
nationally recognized counsel in the area of municipal finance that
the designation of the note as a "qualified tax-exempt obligation"
will not be adversely affected.
Section 4. This Ordinance shall be in full force and effect
from and after the date of its passage and approval.
® Passed `-Ma,_e Approved �a,,,4 �-I� 118F
'—Pre si Officer r
ATTEST:
City Clerk
TRANSCRIPT OF PROCEEDINGS
AUTHORIZING THE ISSUANCE OF
$882,333.33
PROMISSORY NOTE
(ANNUAL APPROPRIATION)
OF THE
CITY OF JEFFERSON, MISSOURI
® DATED: APRIL 1, 1989
Legal .Opinion
Stinson, Mag .& Fizzell
Kansas City, Missouri
CITY OF JEFFERSON, MISSOURI
$882,333 .33
PROMISSORY NOTE
(ANNUAL APPROPRIATION)
INDEX
1. Legal Opinion of Stinson, Mag & Fizzell.
2. Notice of Meeting.
3. Affidavit of Posting of Notice of Meeting.
4. Minutes of meeting showing the passage of ordinance
authorizing the promissory note.
S. Ordinance.
6. Note (copy) .
7. Closing Certificate.
8. Treasurer ' s Receipt.
9. Receipt for Note.
10. Certificate As To Arbitrage.
11 . Form 8038-G.
` M
STINSON, MAG & FFIZZELL
920 MAIN STRCLT
® THE MAST SUILDINO P.O.Box 19251 4000 LiNemm PLAZA
7500 WEST I IOW STREET 500 N.AxARo
OVERLAND PARK.KANSAS a621O.8329 KANSAS CITY, MISSOURI 64141-2251 DALLAS,Tam*75201.3320
"013)451-11600 (816)842-8600 TELECOnIER 1214)4740.4010
TELEX:477237
TELEx ANSWERSACK:STINSONMAOKSC
TELECOr1ERt(616)474-6582
March 31 , 1989
City of Jefferson
320 East McCarty Street
Jefferson City, Missouri 65101
The Central Trust Bank
238 Madison
Jefferson City, Missouri
Ladies and Gentlemen:
We have acted as special tax counsel in connection with
the issuance by the City of Jefferson, Missouri (the "City") , of
a Promissory Note (Annual Appropriation) in the principal amount
of $882,333.33 and dated April 1 , 1989 (the "Note") .
• We have examined the Note, the Charter of the City and
such certified proceedings and other papers, including the
ordinance of the City authorizing the issuance of the Note (the
"Ordinance") , as we deem necessary to render this opinion.
As to questions of fact material to our opinion, we
have relied upon the certified proceedings and the certifications
of public officials and others furnished to us without
undertaking to verify the same by independent investigation.
With respect to opinions set forth herein regarding tax law, we
have assumed that all covenants and requirements of the Ordinance
will be duly complied with and fulfilled.
Based on the foregoing and subject to the assumptions
and the qualifications set forth herein, we are of the opinion,
as of the date hereof and under existing law, as follows:
1 . The Note has been duly authorized, issued and
delivered by the City and will constitute a valid and binding
obligation of the City, enforceable in accordance with its terms,
except insofar as the enforcement thereof may be subject to
bankruptcy, insolvency, reorganization, moratorium and other
similar laws affecting creditors' rights heretofore or hereafter
STINSON, MAG & FIZZELL -2- March 31 , 1989
enacted to the extent applicable and that its enforcement may
also be subject to the exercise of judicial discretion in
appropriate cases.
2. Under existing statutes, regulations, rulings and
court decisions, the interest on the Note will not be includable
in gross income for federal and Missouri income tax purposes.
Interest on the Note will not be an item of tax preference for
purposes of the individual or corporate alternative minimum tax,
except that interest on the Note may be subject indirectly to a
corporate alternative minimum tax as pre-tax book income in
taxable years beginning in 1987, 1988 and 1989 or as adjusted
earnings and profits for taxable years beginning after 1989.
Interest on the Note also may be subject to a tax based on the
modified alternative minimum taxable income of a corporation
under the Superfund Amendments and Reauthorization Act of 1986 in
taxable years beginning after 1986. In addition, interest on the
Note held by certain foreign corporations may be subject to the
branch profits tax under the Code in taxable years beginning
after 1986.
The Note has been designated as a "qualified tax-exempt
® obligation" for purposes of Section 265 of the Internal Revenue
Code of 1986.
Very truly yours,
NNCL/CRI:jkj d��
-00UNCIL REVISED
Mardi 20, 1989
7:30 p.m.
JOHN G. CHRISTV MUNICIPAL BUILDING
01. CALL TO ORDER
2. PRAYER - Councilman Judy Owens
3. ROLL CALL
4. PUBLIC HEAPJM
5. PRES NTATIONS FROM GAL=
a) Crime Stoppers
b) Recycling Week - Liz Palazzolo
6. CONSENT AGENDA
a) Council Minutes of 03/06/89
b) Monthly Financial Statement
C) Approval of following bids:
1080 - Protective Clothing, Fire Department
e) Appointments to Boards and Commissions:
Juvenile & Family Affairs Advisory Comai.ssion - Thomas J. Brown, III (Replaces
Dick Naumann who resigned) Term to expire 9/90.
Animal Rescue Advisory Commission - Dr. Greg Popp; John Dewar and Denise Sone
(Reappointment)
f) Appointments to the Jefferson City Police Department
Probationary Police Officer - Michael R.. Wagers
Reoords Clerk - Mary Sue Koestner
Probationary Police sergeant - Peggy Quigg
7. MINLTPES/REPOM RECEIVED AND FTIED:
Housing Authority Board of Commissioners 2/3/89; Planning & Zoning Commission 2/9/89;
Cable Quality Commission 2/27/89; Traffic Safety Coamnission 3/9/89; Departmental
Monthly Reports
8. ANNOUNCEMENTS BY MAYOR:
9. BIDS INTRODUCED:
88-182 Authorize contract,.with Chamber of Commerce for administration of lodgings
tax fund (Halsey)
88-183 Establish guidelines for the advertising on City buses (Woodman)
88-184 Authorize internuiicipal agreement for sewer services in the City of St.
Martins (Halsey)
* 88-185 Authorize contract with Missouri Highway & Transportation Commission to
fund General Public Transportation Project (Woodman)
* 88-186 Authorize contract with RSD for the provision of Engineering Services in
connection with the acquisition of Grays Creek Interceptor (Haake)
* 88-187 Authorize agreement with Central Bank for the funding of the Grays Creek
Basin purchase from RSD (Halsey)
10. BILLS PENDING:
88-171 Authorize lease agreement with Jefferson Hauling and Distributing Cfor lease of silo (Halsey)
88-172 Authorize contract with Pierce Manufacturing for repair and rehabilion
of tanker-pumper (mosey)
88-173 Authorize contract with Regional Sewer District for acquisition of
interceptor line and other assets contained in Grays Creek Basin (Halsey)
88-174 Authorize contract with Energy Masters Corporation for comprehensive energy
management services (Halsey)
88-175 Authorize contract with Phillips Pipeline Company for work in connection
with relocation of pipeline in conjunction with Seven Hills Road project
(mosey)
88-176 Authorize contract with Public Water Supply District No. 2 for relocation
expenses associated with Seven Hills Road project (Halsey)
88-177 Amend Ordinance 11044 as it pertains to the outdoor display and storage
of tires (Haake)
88-178 Amend Chapter 17 of the Code of the City of Jefferson, regulating the
attaching of advertising material to motor vehicles (Veile)
88-179 Attend Ordinance 9552 by increasing the salary of the Municipal Court Judge
(mosey)
88-180 Amend zoning map of the City of Jefferson by rezoning property at 1512 St.
Mary's Boulevard frcan RS-3 to RD (Scheulen)
11. IMRMAL CALENDAR
88-154 Designate President's Day as a City Holiday (Veile) (4/3/89)
12. RESOIUTIONS
RS88-31 Honor Coach Mike Jeffries and Helias Wrestling Team
M88-32 Opposing inclusion of Lincoln University in the proposed Missouri State
University
RS88-33 Support formation of Jefferson City Crime Stoppers
13. UNFINISHED BUSINESS
14. NEW BUSINESS
a) Release of appropriation for purchase of CAD system
15. APPROVAL OF EXECUTM SESSION MINUTES
16. EXECUTIVE SESSION
a) Real Estate
*Suspension of Rules Requested
AFFIDAVIT OF POSTING OF NOTICE
STATE OF MISSOURI )
) SS.
COUNTY OF COLE )
I, the undersigned, do hereby certify that (1) attached
hereto is a true and correct copy of the Notice of Meeting for
the March 20, 1989 meeting of the City Council of the City; ( 2)
said Notice of Meeting was posted on a bulletin board or other
prominent place which is easily accessible to the public and
clearly designated for posting notices at the City Hall in the
City of Jefferson, Missouri , being the principal office and
meeting place for the City; ( 3) said Notice was posted at least
24 hours prior to the commencement of the meeting; and ( 4) a copy
of said Notice was made available to each representative of the
news media who requested it .
-- 1,09'e-Z A
City Clerk of the City of
Jefferson, Missouri
Subscribed and affirmed before me this o --9y� day of
_ 1989.
(SEAL) Notary Public of Missouri
Printed Name: PEON L 94
Commissioned in _C,4tiL _ County
80NNIE K SCHRODER, NOTARY PUBLIC
My commission expires CR+LE CClUNI'y STATE of MISSOURF
MY COMMISSION EXPIRES 4176191
w�
4
deal". Councilman Veile stated he saw no reason why the Regional
sewer District shouldn't pay for this service. Councilman Haake
questioned the length of the contract and was informed by Allen
Garner that the contract term was for one year. The City has the
option of renewing this contract if they so desire. Councilman
Feldman questioned what would happen to the RSD contract if this
particular bill was not approved. Allen Garner stated the RSD
contract might not be approved as this was a part of the
negotiations for that contract.
After further discussion regarding the cost to the City to provide
these services, Councilman Scheulen questioned what the future of
the remaining facilities not purchased by the City. Allen Garner
stated that the City was not obligated to the County for any
further commitment than that covered by the Professional Services
contract, which is in effect for one year. Councilman Scheulen
questioned if the remaining customers were going to be the
remaining supporters of the RSD. Allen Garner stated that the
details of how the RSD is taken out of receivership and back into
the operation under the board, is still in the hands of Judge
Kinder. The Council was informed that there is potential for
growth in the non-Gray's Creek Basin area. The Council was
informed that the proposed contracts dealing with the purchase of
the RSD is considered by staff to be a favorable compromise, as the
RSD originally wanted the City to operate the whole county system
for twelve to thirteen years.
After further discussion, Councilman Veile questioned why the City
should purchase the Grays Creek Basin as most of it was out of the
City limits. Public Works Director, Mike Bates, stated that this
area was to the west and the direction the City seemed to be
expanding. Mr. Bates explained we were paying the RSD an annual
subsidy for this area and it was in the City's best interest to
proceed with this contract. Councilman Halsey questioned how
important it was to suspend the rules for this contract tonight.
City Counselor Allen Garner stated the proposed closing date for
the contracts was April 1, 1989.
As there was no further discussion, Bill 88-186 was passed by the
following vote as ordinance No. 11196.
Aye: Feldman, Gordon, Haake, Halsey, Mason, Owens, Scheulen,
and Woodman.
Nay: Veile.
1 N N
I 88-187, sponsored by Councilman Halsey, entitled:
RDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
R AN CITY CLERK TO EXECUTE A NOTE WITH CENTRAL BANK AND ANY
R NECESSARY DOCUMENTS IN CONNECTION WITH THE ACQUISITION OF
TS FROM COLE COUNTY REGIONAL SEWER DISTRICT.
88-187 was read first and second time by title and ordered
ributed to members of the Council. Councilman Halsey requested
rules be suspended for this bill as it was pertaining to the
tal program of acquiring the RSD and it was an emergency.
e was no objection to the suspension of the rules and Bill 88-
was read third time by title, placed on final passage, and
ed by the following vote as Ordinance No. 11197.
Aye: Feldman, Gordon, Haake, Halsey, Mason, Owens, Scheulen,
Veils and Woodman.
Nay: None.
BILLS PENDING:
. Bill 88-171, sponsored by Councilman Halsey, entitled:
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT WITH JEFFERSON
r .
BILL NO. 88-187
SPONSORED BY COUNCILMAN HALSEY
ORDINANCE NO. 1 I`I'1
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AN CITY CLERK TO EXECUTE A NOTE WITH CENTRAL BANK AND ANY
OTHER NECESSARY DOCUMENTS IN CONNECTION WITH THE ACQUISITION OF
ASSETS FROM COLE COUNTY REGIONAL SEWER DISTRICT.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI,
AS FOLLOWS:
Section 1. The Mayor and City Clerk are hereby authorized and
directed to execute a note with Central Bank and any other
necessary documents in connection with the acquisition of assets
from Cole County Regional Sewer District for a sum not to exceed
$882,333. 33.
Section 2. This note shall be substantially the same in form
and content as that note attached hereto as Exhibit A. The note
is subject to annual appropriations.
Section 3 . The City will comply with all applicable
® provisions of the Internal Revenue Code of 1986 (the "Code") ,
including Section 103 thereof, and the regulations of the Treasury
Department thereunder, from time to time proposed or in effect, in
order to maintain the exclusion from gross income for purposes of
federal income taxation of the interest on the note.
The City covenants and agrees that it will use the proceeds
of the note as soon as practicable and with all reasonable dispatch
for the purpose for which the note is issued as hereinbefore set
forth, and that no part of the proceeds of the note shall be
invested in any securities, obligations or other investments except
for the temporary period pending such use nor used, at any time,
directly or indirectly, in a manner which, if such use had been
reasonably anticipated on the date of issuance of the note, would
have caused any of the note to be or become an "arbitrage bond"
within the meaning of Section 10a(b) (2) or Section 148 of the Code
and the regulations of the Treasury Department thereunder proposed
or in effect at the time of such use and applicable to obligations
issued on the date of issuance of the note.
The City represents and warrants that (i) it is a governmental
unit under Missouri law with general taxing powers, (ii) the note
is not a private activity bond as defined in Section 141 of the
Code, (iii) 95% or more of the net proceeds of the note will be
used for local governmental activities of the City and (iv) the
aggregate face amount of all tax-exempt notes and bonds (other than
private activity bonds) issued by the City (and all subordinate
entities thereof) during the calendar year 1989 is not reasonably
expected to exceed $5, 000, 000. The City hereby covenants that the
City and all it.,; subordinate entities will not issue in excess of
® $5,000,000 of tax-exempt notes and bonds (including the note but
excluding private activity bonds) during the calendar year 1989
without first obtaining an opinion of nationally recognized counsel
in the area of municipal finance that the excludability of the
interest on the note from gross income for federal tax purposes
will not be adversely affected.
The City hereby designates the note as a "qualified tax-exempt
obligation" as defined in Section 265 (b) (3) (B) of the Code. The
aggregate face amount of all tax-exempt obligations (excluding
private activity bonds other than qualified 501(c) (3) bonds) issued
or to be issued by the City (and all subordinate entities thereof)
during calendar year 1989 is not reasonably expected to exceed
$10,000,000. The City hereby covenants that the City and all its
subordinate entities will not issue in excess of $10,000, 000 of
qualified tax-exempt obligations (including the note but excluding
private activity bonds other than qualified 501(c) (3) bonds) during
the calendar year 1989 without first obtaining an opinion of
nationally recognized counsel in the area of municipal finance that
the designation of the note as a "qualified tax-exempt obligation"
will not be adversely affected.
Section 4. This Ordinance shall be in full force and effect
from and after the date of its passage and approval.�l
® Passed �-oj Approved vLj,
resi Officer r
ATTEST:
,ZLeZ A. �J
City Clerk
I hereby certify this is a true and correct photocopy of Ordinance
11197 of the City of Jefferson, Missouri, which is in effect at
the date of this certification.
lx-e�z A - dc�4_ - 157 4W_
Brenda M. Cirtin, City Clerk to
PROMISSORY NOTE
® (ANNUAL APPROPRIATION)
UNITED STATES OF AMERICA
STATE OF MISSOURI
CITY OF .JEFFERSON
OWNER: THE CENTRAL TRUST BANK
238 MADISON
JEFFERSON CITY, MISSOURI 65102
PRINCIPAL AMOUNT: EIGHT HUNDRED EIGHTY-TWO THOUSAND THREE
HUNDRED THIRTY-THREE AND THIRTY-THREE
ONE-HUNDREDTHS DOLLARS
THE CITY OF JEFFERSON, MISSOURI, a constitutional
charter city in the State of Missouri (the "City" ) , for value
received, promises to pay, but only from the sources and in the
manner hereinafter described, to the order of the owner
identified above or its successors or assigns in installments as
hereinafter provided, the principal amount specified above and to
pay interest in arrears from said sources on the unpaid principal
amount hereof (1) from the date hereof to April 1 , 1994, at the
rate of 8.50% per annum, and ( 2) beginning on April 1, 1994, and
® continuing thereafter until this Note is paid in full, at a rate
per annum equal to 1% less than the Five-Year U.S. Treasury Rate.
For purposes of the preceding sentence, the "Five-Year U.S.
Treasure Rate" shall be that per annum rate of interest equal to
the yield for the United States Treasury Notes maturing closest
to the date that is five years after the date of the
determination of such interest rate, as published in the Wall
Street Journal on the first business day of the calendar month of
April, 1994.
THE PRINCIPAL of and interest on this Note shall be
payable in consecutive monthly installments on the first day of
each month, beginning on May 1, 1989, and ending on April 1,
1998, in the respective amounts (subject to prior prepayment as
hereinafter provided) as follows:
(a) for the period beginning April 1, 1989, and
ending on April 1, 1994, the monthly payments shall be
determined by amortizing the unpaid principal amount of
this Note as of April 1, 1981, and the interest thereon
from the first day of such period through April 1,
1998, at the initial interest rate hereinabove
described, with the first payment to be made on May 1,
1989, and the last payment to be made on April 1, 1994;
and
(b) for the period beginning April 1, 1994, and
ending on March 1, 1998, the monthly payments shall be
determined by amortizing the unpaid principal amount of
this Note as of April 1, 1994, and the interest thereon
from the first day of such period through April 1,
1998, at the applicable interest rate hereinabove
described, with the first payment to be made on May 1,
1994, and the last payment to be made on March 1, 1998;
and
(c) on April 1, 1998, the final payment of all of
the unpaid principal amount of this Note shall be paid
together with interest thereon at the then applicable
interest rate hereinabove described.
Each payment on this Note described in (a) through (c) above
shall be applied first to the payment of interest on this Note
and then to the payment of the principal hereof.
PAYMENTS OF principal of and interest on this Note
shall be made by the City to the owner hereof on the date due by
check or draft mailed to such holder at its address without
presentation or surrender of this Note.
THIS NOTE is issued for the purpose of providing funds
to the City to acquire the assets of Cole County Regional Sewer
District, all by the authority of and in full compliance with the
provisions, restrictions and limitations of the constitution and
statutes of the State of Missouri and the Charter of' the City.
THE PRINCIPAL of and interest (computed on the basis of
a 365 or 366-day year) on this Note are payable in such coin or
currency of the United States of America as at the time of
payment is legal tender for the payment of public and private
debts,
THE INSTALLMENTS OF THIS NOTE are subject to prepayment
prior to their stated maturities by the City, as a whole or in
part on any date, without any prepayment premium or penalty.
Installments of the Note to be prepaid shall be prepaid in
inverse order of the maturity of such installments of principal.
If this Note is prepaid in part, the owner hereof shall note such
partial prepayment by endorsing the acknowledgment provided on
this Note.
THE OBLIGATIONS OF THE CITY HEREUNDER TO PAY THE
INSTALLMENTS OF PRINCIPAL OF AND INTEREST ON THIS NOTE ARE
SUBJECT TO THE APPROPRIATION OF FUNDS FOR SUCH PURPOSE BY THE
CITY. THE OBLIGATIONS OF THE CITY SHALL NOT CONSTITUTE A DEBT, A
GENERAL OBLIGATION OR, EXCEPT FROM FUNDS APPROPRIATED FOR
-2-
SUCH PURPOSE, A LIABILITY OF THE CITY WITHIN THE MEANING OF ANY
CONSTITUTIONAL, STATUTORY OR CHARTER DEBT LIMITATION OR
RESTRICTION.
THE CITY INTENDS, subject to the annual appropriation
provisions of this Note, to continue this Note through the
maturity hereof and to pay the installments hereunder . The City
reasonably believes that legally available funds in an amount
sufficient to pay all installments can be obtained. The
responsible financial officer of the City shall do all things
lawfully within his power to obtain and maintain funds from which
the payments may be made, including making provision for such
payments to the extent necessary in each proposed annual budget
submitted for approval in accordance with applicable procedures
of the City and to exhaust all available reviews and appeals in
the event such portion of the budget is not approved.
Notwithstanding the foregoing, the decision to budget and
appropriate funds or to renew its obligations hereunder is to be
made in accordance with the City's normal procedures for such
decisions, and the then current City Council of the City will
have the final responsibility for that decision.
IF ANY DEFAULT in the payment of any installment of
principal of or interest on this Note shall occur, nothing shall
obligate the City to be financially obligated beyond the funds
which shall have been appropriated during the then current fiscal
® year of the City.
THIS NOTE may be assigned by the Owner without the
necessity of obtaining the consent of the City; provided that any
assignment shall not be effective until the City has received
written notice, signed by the assignor, of the name, address and
tax identification number of the assignee. The City shall retain
all such notices as a register of all assignees and shall make
all payments to the assignee or assignees designated in such
register.
THE CITY, for itself and for any guarantors, sureties,
endorsers and/or any other person or persons now or hereafter
liable herein, if any, hereby waives demand of payment,
presentment for payment, protest, notice of nonpayment or
dishonor and any and all other notices and demands whatsoever,
and any and all delays or lack of diligence in the collection
hereof.
IT IS HEREBY CERTIFIED AND DECLARED that all acts,
conditions and things required to exist, happen and be performed
precedent to and in the execution and the issuance of this Note
do exist, have happened and have been performed in due time, form
and manner as required by law.
THIS NOTE shall be governed by and construed and
enforced in accordance with the laws of the State of Missouri .
-3-
IN WITNESS WHEREOF, the City of Jefferson, Missouri,
has caused this Note to be executed in its name by the manual
signature of its Mayor and attested by the manual signature of
its Clerk and its seal to be affixed hereto, all as of April 1,
1989.
CITY OF JEFFERSON, MISSOURI
By
[SEAL] ayor
ATTEST: x _
Clerk
-4-
ACKNOWLEDGMENT AND RECORD OF PARTIAL PREPAYMENTS
Partial prepayments of the principal of this Note shall
be made directly to the registered owner hereof, and each
registered owner hereof shall record such prepayment on the table
set forth below.
Payment Amount Payment Amount
Date Paid Signature Date Paid Signature
t
r '
CLOSING CERTIFICATE
STATE OF MISSOURI )
SS.
COUNTY OF COLE )
We, the undersigned, Mayor and City Clerk, respectively, of
the City of Jefferson, Missouri ( the "City" ) , as duly qualified,
constituted and authorized officials of the City, hereby certify
as follows:
The City is a legally constituted constitutional charter
city organized and existing under the laws of the State of
Missouri since 1825.
The population of the City is approximately 33 ,700, and
regular meetings of the City Council of the City are held on the
the 1st and 3rd Monday of each month at 7:30 o'clock P.M.
The following named officers were and are the duly qualified
and acting officers of the City at and during all the times
indicated as follows:
Term of Office
Name Title From (Date) To (Date)
Louise Gardner ) Mayor NOW AND AT ALL TIMES
DURING THESE PROCEEDINGS
Craig Davis )
Marvin Feldman )
Darrel Gordon )
James Haake ) Councilmen
Randy Halsey )
Kyle Mason )
Judy Owens )
Vernon Scheulen )
Steve Veile )
James Woodman )
Brenda Cirtin ) Clerk
Bob Cox ) Treasurer
We have duly signed and executed the $882,333. 33 principal
amount of Promissory Note (Annual Appropriation) ( the "Note" ) and
on the date of the Note, and on the date when the Note was duly
executed by us, we were, and at the date hereof we are, the
officials indicated by our signatures on the Note, and by our
signatures to this certificate, respectively.
The above and foregoing transcript contains a full, true and
correct copy of all proceedings had by the City relating to the
authorization and issuance of the Note; none of said proceedings
has been modified, amended or repealed and the proofs contained
therein still exist.
Adequate provision has been made for the payment of the
Note, together with all interest thereon, during the current
fiscal year of the City.
There is no controversy, suit or other proceeding of any
kind pending or threatened wherein or whereby any question is
raised or may be raised, questioning, disputing or affecting in
any way the legal organization of the City or its boundaries, or
the right or title of any of its officers to their respective
offices, or the legality of any official act shown to have been
done in the foregoing transcript, or the constitutionality or
validity of the Note Bonds shown to be authorized in said
transcript, or the validity of the Note, or any of the
proceedings had in relation to the issuance or sale thereof , or
the appropriation of funds to pay the principal and interest
thereof .
This certificate is delivered by us concurrently with the
delivery of the Note, and the Note are accepted upon the faith
hereof.
WITNESS our hands and the seal of the City this 15t day of
1989.
Signature Official Title
Mayor
City Clerk
(SEAL)
•
I hereby certify that I am acquainted with the above-named
officials and with their signatures, that I know them to hold the
offices set opposite their names respectively, that I have
examined their signatures on the above certificate and that I
believe such signatures to be the true and genuine signatures of
said officials, respectively.
Ila 4 a 16z. X,X P
0
(To be executed by official
of local Bank or Trust Co. )
(Affix Bank Seal)
® TREASURER'S RECEIPT
I, the undersigned, Treasurer of the City of Jefferson,
State of Missouri, do hereby certify that I have this day
received from The Central Trust Bank the sum of $882, 333.33 in
exchange for the delivery of the Promissory Note (Annual
Appropriation) of the City.
IN . WITNESS WHEREOF, I have hereunto set my hand this 3 �
day of 1989.
Treasurer o the City of
Jeffer issouri
RECEIPT FOR NOTE
The Central Trust Bank (the "Bank" ) hereby acknowledges
receipt on this day of , 1989, from the City of
Jefferson, Missouri (the "City" ) , of $882,333. 33 aggregate
principal amount Promissory Note (Annual Appropriation) of the
City dated April 1, 1989 ( the "Note") . The Bank has not
reoffered the Note to the Public.
THE CENTRAL TRUST BANK
By
Au orized rMIvzdual
CERTIFICATE AS TO ARBITRAGE
We, the undersigned, Mayor and City Clerk, respectively, of
the City of Jefferson, Missouri ( the "City" ) , hereby certify as
follows:
( 1) The City is issuing and delivering, pursuant to an
Ordinance of the City adopted March 20, 1989 (the "Note
Ordinance" ) , and simultaneously with the delivery of this
certificate, $882, 333. 33 principal amount Promissory Note (Annual
Appropriation) , dated April 1, 1989 ( the "Note" ) , for the purpose
of providing funds for the payment of the cost of acquiring the
assets of Cole Regional Sewer District ( the "Project" ) .
( 2) The estimated total costs of the Project will not be
less than $882, 333 . 33, which total costs are expected to be
financed with the proceeds derived from Note.
( 3) The City has entered into a contract for the
acquisition of the Project which contract obligates the payment
by the City of not less than $ i i69 ���_�� It is contemplated
that the acquisition will proceed with due diligence to
completion, which is expected on or about April 1 , 1989.
( 4) The City has heretofore expended approximately [no
funds] $ _A_ for payment of costs of the Project, which
funds were derived from N/A
( 5) The Note proceeds to be derived by the City are
expected to be used, needed and fully expended for payment of the
costs of acquiring the Project by April 1, ► 1989 .
( 6) The City has not created or established, and does not
expect to create or establish, any sinking fund or other similar
fund ( i) which is reasonably expected to be used to pay principal
of or interest on the Note, or ( ii) which may be used solely to
prevent a default in the payment of principal of or interest on
the Note.
(7) The Project has not been and is not expected to be sold
or otherwise disposed of, either in whole or in major part, prior
to the last maturity of the Bonds.
(8) ( i ) The City is a governmental unit under Missouri law
with general taxing powers, ( ii ) none of the Bonds is a private
activity bond as defined in Section 141 of the Internal Revenue
Code of 1986, ( iii) 95% or more of the net proceeds of the Bonds
will be used for local governmental activities of the City and
( iv) the aggregate face amount of all tax-exempt bonds (other
than private activity bonds) issued by the City (and all
subordinate entities thereof) during the calendar year 1989 is
not reasonably expected to exceed $5,000,000.
(9) To the best of our knowledge, information and belief,
the above expectations are reasonable.
(10) The City has not been notified of any listing or
proposed listing of it by the Internal Revenue Service as an
issuer whose arbitrage certificate may not be relied upon.
(11) This certificate is being executed and delivered
pursuant to Section 148 of the Internal Revenue Code of 1986.
(11) The undersigned are officers of the City charged with
the responsibility of issuing the Bonds.
WITNESS hands and the official seal of the City this
day of 1989.
or
J
(SEAL) City Cler
room 0038-G Information Return for Tax-Exempt
(December 1996) Governml. ntal Bond Issues
OMIhs.1SrS•OIEO
Oesseln.eMorfheteeaawr ► Under section 141(1) 4pllte 1E-11-If
Internal ne•t-fie seev,et (U it roues 8030.GC It Issue price Is under 1100,000.) _
it TportingAuthorlty Check box It Amended nelurn
1 lo-
Isswit's name E luwr'a smplgq IdenlAlutwm number
City of Jefferson 44-6000193
3 Number and sheet 4 Report number
alga --q-- 1
City of to■n,stale.and LIP code 9 usts of Issue
qgfjgr_Snn City, Mj .-,_-,nuri 65101 _Al2ril 1 1989
LMM Type of Issue: check box es that applies)
7 Check box it bonds are tax or other revenue anticipation bonds► ❑ Issue price
8 Check box If bonds are in the lorm of a lease or Installment sale 10 ❑
9 ❑ Education . . . . . '.
10 ❑ Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . . .
I ❑ Trartspurtaliun . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 ❑ Public salely . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 M Envirunllronl(hicludine sewage builds) . . . . . . . . . . . . . . . . .
14 ❑ Woushtg .' . . . . . .
15 ❑ Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16 ❑ Other.Describe(see instructions)r
• t Descrl tion of Bonds
la) let let Slated edempllon We�hled tf) hat Initegt
--Malutily date 1e11eeest role Issue pact ploce at Maluilly avert t matuelly Yield call
17 rinal maturity 04 Ol 98 VR %. 11 634* $11 ,634*
18 Entire issue $882,333.33 $882,333.33 5.1121*years VR
• . U so s of 9 r1algal roc ads of ssue (Including 4nderwriters'-discount)
1I Proceeds used for accrued Interest — —
20 Proceeds used for bond Issuance costs(including underwriters'discount). . . . . . 20 —0—
21 Proceeds used fur credit enhancement 21 —0-
22• Prcceeds allocated to reasonably required reserve or replacement fund . . . . , . . 22 —0—
23 Prcceeds used to relund prior Issues 23 —0—
24 Ncrirelunding proceeds of Ilse issue(subtract lines 20.21.22,and 23 110tH line X18.column fc ) 2� $882,333.33
1 111
Descriptlon of Refunded Bonds (coni2lcln iliis part only for refunding bonds) _
25 cillve file relnaitting weighted average Inalurily of the bonds to be refunded . . . , . . . ► N/A years
26 Enter(lie last date on which the refunded bonds will be called 10.
27 Enter Ilse doles Ilse refunded bonds were issued �
• + Miscellaneous
28 Enter Ilia amount(ff any)of the stale volume cap allocated to this Issue . ► _�_
29 Arbitrage rebate.
a Check box If Ilia small governmental unit exception to the arbitrage rebate requirement applies .
b Check box If the 6-month temporary investment exception to the arbitrage rebate requirement Is expected to apply . . . . . Ej
e Check box it you expect to earn and rebate arbitrage prolits to the U.S. . . . . . . . . . . . . . . . . . ❑
3U Enter the amount of the bonds designated by Ilia issuer under section 265(b)(3)(0)(11) , Par $882,333.33
31 Pooled linancines:
a Check box it any of the proceeds of this issue are to be used to make loans to other governmental units ► ❑ and
enter the amount ► '
b Check box if this issue is a loan made from the proceeds of another tax•esempl issue D ❑ and enter the name of the
iss;rer I. and the date of the Issue It-
lhote penilluet of r•eluer,I deelte.Ilia,I have e.anuned this ectuen and accompanlrng scheduits and atalemenls,and to Ilia best of fill knoeritdle aw brim.%
Please 14111111 U1. noel,and complete.
Sign
Ale
Here Mayor
W
R"MyrM Full.• pile till,
rut Ilipel,vulk 11cdul.liullk uliue, see poke I ul Ihtl Inslluctions. fulfil (I:.•C:-I
.*approximate - amortization of principal will Vary-with interest rate