HomeMy Public PortalAboutRES-CC-1996-19zrzsn.00i(PF)
Moab, Utah
August 27, 1996
The City Council of the City of Moab, Grand County, Utah met in regular
session at its regular meeting place, 115 West 200 South, Moab, Utah, at 7:00 p.m. on
the 27th day of August, 1996, with the following members present:
Tom Stocks Mayor
Richard Cooke Councilmember
William D. McDougald Councilmember
Paul Seibert Councilmember
Tenter T. Dee T r a n t e r Councilmember
Jeanne M. Veteto Councilmember
Also present:
Sandra Beauregard
Donna J. Metzler
Absent:
City Recorder
City Manager
After the meeting had been duly called to order and after other matters not
pertinent to this Amendatory Resolution had been discussed, the City Recorder presented
to the City Council a Certificate of Compliance With Open Meeting Law with respect
to this August 27, 1996 meeting, a copy of which is attached hereto as Exhibit "A".
The following AmendatoryResolution was then introduced in written form, was
fully discussed, and pursuant to motion duly made by Councilmember
William D. M c D o u g a J. cand seconded by Councilmember Paul Seibert ,
adopted by the following vote:
YEA: 5-0
NAY:
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RESOLUTION 19-96
The Amendatory Resolution was then signed by the Mayor in open meeting and
recorded by the City Recorder. The Amendatory Resolution is as follows:
A RESOLUTION amending the Bond Resolution adopted on July 9, 1996
authorizing the issuance of $1, 821, 000 Sewer Revenue Bonds, Series
1996,providing for incremental advances of bond proceeds by the State of
Utah, Department of Environmental Quality, Water Quality Board; and
related matters.
WHEREAS, on July 9, 1996, the City Council of the City of Moab, Grand
County, Utah (the "Issuer") adopted a bond resolution (the "Bond Resolution")
authorizing the issuance of its $1, 821,000 Sewer Revenue Bonds, Series 1996 (the
"Series 1996 Bond") to the State of Utah, Department of Environmental Quality, Water
Quality Board (the "Water Quality Board") for the purpose of constructing improvements
to its sewer system (the "System");
WHEREAS, the Issuer desires to amend the Bond Resolution to permit
incremental advances of bond proceeds by the Water Quality Board:
NOW THEREFORE, Be It Resolved by the City Council of the City of Moab,
Grand County, Utah as follows:
Section A. The Bond Resolution is hereby amended to add the following new
Section 2.8 to permit the Water Quality Board to advance bond proceeds in incremental
advances:
Section 2.8. Advances of Proceeds. On or before fifteen (15)
days prior to the first day of each calendar quarter beginning prior to the
payment by the Issuer of costs of construction of the Project, or at such
other time as shall be specified by the Water Quality Board, the Issuer
shall provide to the Water Quality Board a certificate setting forth a
schedule of the costs of construction which the Issuer estimates will
become due and payable by the Issuer during the next calendar quarter.
Advances made by the Water Quality Board on the basis of such
certificates shall be deposited in the Escrow Account. All such advances
shall be in the amount of $1,000 or any integral multiple thereof. Upon
receipt of evidence of deposit of each advance in the Escrow Account, the
Treasurer of the Issuer shall give telephonic authorization followed by
written confirmation to the Water Quality Board to stamp or write the date
and amount of such advance made by the Water Quality Board in the
appropriate place on the Certificate of Dates of Payment and Amount
appearing on the State Bond. Each advance made by the Water Quality
Board on the State Bond shall constitute proceeds of the State Bond and
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shall be deemed to constitute the full purchase price of the corresponding
principal amount of the State Bond noted on the Certificate of Dates of
Payment and Amount appearing on the State Bond. As advances are made
by the Water Quality Board, they shall be deemed to represent principal
payments in the order of their maturity.
If less than $1,821,000 is advanced on the Series 1996 Bond, the
repayment period shall be shortened and the number of annual principal
installments shall be reduced in inverse order of maturities (and the
amount of the final remaining principal installment shall be reduced, if
required) to correspond to the maximum principal amount of the Series
1996 Bond.
Section B. The last sentence of Section 2.5 of the Bond Resolution is amended
to read as follows:
The City Recorder is hereby authorized to deliver to the Water Quality
Board the Series 1996 Bonds upon payment to the Issuer of the first
incremental advance thereon.
Section C. The form of the State Bond attached to the Bond Resolution as
Exhibit "B-1" is hereby amended and revised in substantially the form attached hereto
as Exhibit B.
Section D. All resolutions or parts thereof in conflict with the provisions of
this Amendatory Resolution are, to the extent of such conflict, hereby repealed.
Section E. The City Council hereby reaffirms the Bond Resolution, as
amended by this Amendatory Resolution.
Section F. This Amendatory Resolution shall become effective upon its
adoption by the City Council.
ADOPTED this 27th day of August, 1996.
ATTEST:
City Recorder
(SEAL)
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(Other business not pertinent to the above appears in the minutes of the meeting.)
Upon motion duly made and carried, the meeting was adjourned.
ATTEST:
City Recorder
(SEAL)
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STATE OF UTAH
COUNTY OF GRAND
I, Sandra Beauregard, hereby certify that I am the duly qualified and acting City
Recorder of the City of Moab, Grand County, Utah.
I further certify that the above and foregoing instrument constitutes a true and
correct copy of the minutes of a regular meeting of City Council of the City of Moab,
including an Amendatory Resolution adopted at said meeting held on August 27, 1996,
as said minutes and Bond Resolution are officially of record in my possession, and that
a copy of said Amendatory Resolution was deposited in my office on August 27, 1996.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate
seal of said City of Moab this 27th day of August, 1996.
(SEAL)
/e9a,3-44,- 7__
City Recorder
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EXHIBIT "A"
CERTIFICATE OF COMPLIANCE WITH OPEN MEETING LAW
I, Sandra Beauregard, the undersigned City Recorder of the City of Moab, Grand
County, Utah (the "City") do hereby certify according to the records of the City in my
official possession, and upon my own knowledge and belief, that in accordance with the
requirements of Section 52-4-6(2), Utah Code Annotated, (1953), as amended, I gave not
less than twenty-four (24) hours public notice of the agenda, date, time and place of the
August 27, 1996 public meeting held by the City as follows:
(a) By causing a Notice, in the form attached hereto as Schedule "1",
to be posted at the City's principal offices on August 26 t t} 1996, at least
twenty-four (24) hours prior to the convening of the meeting, said Notice having
continuously remained so posted and available for public inspection until the
completion of the meeting; and
(b) By causing a copy of such notice, in the form attached hereto as
Schedule " 1 ", to be delivered to the Times Independent at least twenty four (24)
hours prior to the convening of the meeting.
IN WITNESS WHEREOF, I have hereunto subscribed my official signature this
27th day of August, 1996.
(SEAL)
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City Records
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Moab City Corporation
115 WEST 200 SOUTH
MOAB, UT.AH 84532-2534
(801) 259-5121 • FAX (801) 259-4135
SCHEDULE "1"
NOTICE OF MEETING
City of Moab - Regular Council Meeting
Moab City Council Chambers: 115 West 200 South
Tuesday, August 27, 1996, at 7:00 p.m.
*****************************************************************
7:00 p.m. REGULAR CITY COUNCIL MEETING
SECTION 1:
Call To Order: Pledge To Flag:
APPROVAL OF MINUTES
1-1 Approval of August 13th minutes:
A) Special Joint City/Planning Commission
B) Regular City Council Meeting
SECTION 2: CITIZENS TO BE HEARD
SECTION 3: CITY PLANNING
SECTION 4: PRESENTATIONS
SECTION 5: PUBLIC HEARINGS
7:30 p.m. 5-1 Milton and Barbara Walston's request to amend Utex
Subdivision, Plat A, located on the corner of
McGill and 500 West.
SECTION 6: CONSENT AGENDA
6-1 Don Tevini, DBA D & J Motels Restaurant at 540 S.
Main requests a Class II Beer License; background
investigation is complete with no derogatory
information discovered.
SECTION 7: OLD BUSINESS
7-1 Proposed Ordinance 96-01--Amending Sections
12.24.120 A.I. and A.2, 12.24.180 and 12.24.210 of
the Moab Municipal Ordinances Regarding Changes To
The Tree Stewardship Ordinance.
7-2 Canyonlands Fat Tire Festival Organizing Committee
requests use of Swanny City Park for October 21st-
26th, 1996.
SECTION 8: NEW BUSINESS
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8-1 Discussion of projects for Community Development
Block Grant Funds (CDBG).
8-2 Ron Lindley DBA, Canyonlands Fat Tire Festival
requests a Transient Merchant License for Swanny
City Park for October 22-26, 1996.
8-3 Unable to attend meeting, will put on next agenda.
8-4 Dell M. Newbold, DBA Over The Hill Tours, requests
a Transient Merchant License to do Carriage Tours in
the Moab Area.
8-5 Creation of Capital Improvements Committee.
8-6 Resolution 19-96--Amending Bond Resolution 18-96,
adopted on July 9th 1996.
8-7 Resolution 20-96--Authorizing completion of the sale
of property at 150 E. Center Street.
8-8 Bid award--(2) Police Vehicles for a lease/purchase
for the Police Department.
8-9 Planning Commission favorably recommends the
following:
A) Approval of Downard's Final Plat, of their
proposed subdivision, at Downard's Orchard.
B) Request to go to public hearing for a Zone Change
from John McDonald on the east side of the
property located at 448 N. Main. The proposed
Zone Change request if from a R-3 and RA-1 to a
C-3.
8-10 Changing Moab City Council Meeting date on 9-10-96
due to Utah League of Cities & Towns Convention in
Salt Lake City, Utah.
SECTION 9: READING OF CORRESPONDENCE
SECTION 10: ADMINISTRATIVE REPORTS
SECTION 11: MAYOR AND COUNCIL REPORTS
SECTION 12: PAY THE BILLS AGAINST THE CITY OF MOAB
SECTION 13: ADJOURNMENT
In compliance with the Americans with Disabilities Act, individuals
needing special accommodations during this meeting should notify
the Recorder's office at 115 West 200 South, Moab, Utah 84532,
phone number (801) 259-5121, at least three working days prior to
the meeting.
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EXHIBIT "B"
FORM OF STATE BONDS
UNITED STATES OF AMERICA
STATE OF UTAH
COUNTY OF GRAND
CITY OF MOAB
SEWER REVENUE BOND
SERIES 1996
The City of Moab, Grand County, Utah (the "Issuer"), a political subdivision and
body politic of the State of Utah, acknowledges itself indebted and for value received
hereby promises to pay, but solely in the manner and from the revenues and sources
hereinafter provided, to the registered owner hereof or registered assigns, the Total
Principal Sum set forth in the "Certificate of Dates of Payment and Amount" set forth
at the end of this Bond, but in no event more than a maximum principal amount of
$1,821,000. Principal of this Bond shall be payable in registered installments on
February 1 of each of the years as set forth in the following Repayment Schedule:
REPAYMENT SCHEDULE
Principal Principal
February 1 Maturing February 1 Maturing
1999 $148,000 2004 $185,000
2000 $155,000 2005 $193,000
2001 $162,000 2006 $201,000
2002 $169,000 2007 $211,000
2003 $177,000 2008 $220,000
If less than $1, 821,000 is advanced on this Bond, the repayment period shall be
shortened and the number of annual principal installments shall be reduced in inverse
order of maturities (and the amount of the final remaining principal installment shall be
reduced, if required) to correspond to the Total Principal Sum.
The Issuer shall also be obligated to pay to the Water Quality Board and any
subsequent owner of the Series 1996 Bonds a Hardship Grant Assessment (as herein
defined). The Hardship Grant Assessment shall accrue on the outstanding principal
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balance of this Bond beginning on the date of initial delivery of this Bond and shall be
computed in the same manner as interest such that as the outstanding principal balance
of this Bond is increased or decreased, the Hardship Grant Assessment shall be computed
on the basis of the increased or decreased principal balance from the date of such
increase or decrease to the earlier of (i) the next change in principal balance or (ii) the
next succeeding payment date. The payment dates for the Hardship Grant Assessment
shall be February 1, 1997 and each February 1 thereafter until this Bond is paid in full.
"Hardship Grant Assessment" means a special assessment levied by the Water
Quality Board against the Issuer in consideration for agreeing to finance the Project
through the purchase of this Bond and shall equal 4.5 % per annum of the outstanding
principal balance of this Bond.
Principal payments, whether at maturity or by redemption and the Hardship Grant
Assessment, shall be payable upon surrender of this Bond at the offices of the Paying
Agent, or of any successor Paying Agent. Payments of interest shall be made to the
Registered Owner thereof and shall be paid by check or draft mailed to the Registered
Owner thereof at his address as it appears on the registration books of the Issuer
maintained by the Registrar, or at such other address as is furnished to the Registrar in
writing by such Registered Owner.
As long as the Utah Water Quality Board (the "Water Quality Board") is the
registered holder of this Bond, installment payments of principal and payment of the
Hardship Grant Assessment shall be made by check or draft mailed to the Water Quality
Board as the registered holder at the address shown on the registration books maintained
by the Registrar.
If any installment payment of Bond principal or the Hardship Grant Assessment
is not paid when due and payable, the Issuer shall pay interest on the delinquent
installment at the rate of eighteen percent (18 %) per annum from said due date until paid.
All payments shall be made in any coin or currency which on the date of payment is
legal tender for the payment of debts due the United States of America. All payments
shall be applied first to interest, if any, then to unpaid Hardship Grant Assessment and
then to principal.
This Bond is payable solely from a special fund designated "City of Moab, Grand
County, Utah Sewer Revenue Bond, Series 1996 Sinking Fund", into which fund and into
a reserve therefor, to the extent necessary to assure prompt payment of this Bond, shall
be pledged 100 % of the Net Revenues (as defined in the Bond Resolution herein
described) derived and to be derived from the operation of the Issuer's sewer system (the
"System"), all as more fully described and provided in the Bond Resolution adopted by
the governing body of the Issuer on the 9th day of July, 1996 as amended on August 27,
1996 (collectively, the "Bond Resolution").
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This Bond is issued pursuant to (i) the Bond Resolution, and (ii) the Utah
Municipal Bond Act, Title 11, Chapter 14, Utah Code Annotated, 1953, as amended, for
the purpose of financing the cost of sewer system and other related improvements to the
Issuer's System, including all equipment and necessary appurtenances thereof. This Bond
and the payment of the Hardship Grant Assessment are special limited obligation of the
Issuer payable solely from the Net Revenues (as defined in the Bond Resolution) of the
System and does not constitute an indebtedness of the Issuer within the meaning of any
state constitutional or statutory limitation. In no event shall this Bond or the payment
of the Hardship Grant Assessment be deemed or construed to be a general obligation
indebtedness of the Issuer or payable from any funds of the Issuer other than the
Revenues of the System.
As provided in the Bond Resolution, bonds, notes and other obligations may be
issued from time to time in one or more series in various principal amounts, may mature
at different times, may bear interest at different rates and may otherwise vary as provided
in the Bond Resolution, and the aggregate principal amount of such bonds, notes and
other obligations which may be issued is not limited. This Bond and all other bonds,
notes and other obligations issued and to be issued under the Bond Resolution on a parity
with this Bond are and will be equally and ratably secured by the pledge and covenants
made therein, except as otherwise expressly provided or perilitted in or pursuant to the
Bond Resolution.
The issuance of this Bond shall not, directly, indirectly or contingently, obligate
the Issuer or any agency, instrumentality or political subdivision thereof to levy any form
of taxation therefor or to make any appropriation for its payment.
This Bond is subject to prepayment and redemption at any time, in whole or in
part (if in part, in integral multiples of $1,000), at the election of the Issuer in inverse
order of the due date of the principal installments hereof and by lot selected by the Issuer
if less than all Bonds of a particular due date are to be redeemed, upon notice given as
hereinafter set forth, at a redemption price equal to the principal amount to be so
prepaid.
Notice of redemption shall be mailed by the Issuer, postage prepaid, not less than
thirty (30) days prior to the date fixed for prepayment, to the registered owner of this
Bond addressed to such owner at its address appearing on the registration books
maintained by the Issuer.
Subject to the provisions of the Bond Resolution, the Bonds are issuable in fully
registered form, without coupons, in denomination equal to the principal amount of the
bonds or, upon exchange, in the denomination of $1,000 and any integral multiple
thereof.
The Issuer covenants and agrees that it will fix rates for sewer service sufficient
to pay when due this Bond and the Hardship Grant Assessment, and the principal and
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interest on all bonds issued on a priority to or parity with this Bond, if any, as the same
fall due, provided such rates must be reasonable rates for the type, kind and character
of the service rendered, and will collect and account for the Revenues (as defined in the
Bond Resolution) to be received for such service, and will set aside one hundred percent
(100%) of the Net Revenues of the System (as defined in the Bond Resolution) to pay
this Bond and the Hardship Grant Assessment according to the payment terms
hereinabove set forth and the principal and interest on all bonds issued on a parity with
this Bond, if any.
To the extent and in the respects permitted by the Bond Resolution, the Bond
Resolution may be modified or amended by action on behalf of the Issuer taken in the
manner and subject to the conditions and exceptions prescribed in the Bond Resolution.
The holder or owner of this Bond shall have no right to enforce the provisions of the
Bond Resolution or to institute action to enforce the pledge or covenants made therein
or to take any action with respect to an event of default under the Bond Resolution or to
institute, appear in, or defend any suit or other proceeding with respect thereto, except
as provided in the Bond Resolution.
This Bond shall be registered in the name of the initial purchaser and any
subsequent purchasers in an appropriate book in the office of the City Recorder of the
Issuer, who shall be the Registrar. This Bond is transferable only by notation upon said
book by the registered owner hereof in person or by his attorney duly authorized in
writing, by the surrender of this Bond, together with a written instrument of transfer
satisfactory to the Issuer, duly executed by the registered owner or his attorney duly
authorized in writing; thereupon, this Bond shall be delivered to and registered in the
name of the transferee.
It is hereby declared that all acts, conditions and things required to exist, happen
and be performed precedent to and in the issuance of this Bond have existed, have
happened and have been performed in regular and due time, form and manner as
required by law, that the amount of this Bond does not exceed any limitation prescribed
by the Constitution or statutes of the State of Utah, that the Net Revenues (as defined in
the Bond Resolution) to be derived from the operation of the System have been pledged
and that an amount therefrom will be set aside into a special fund by the Issuer sufficient
for the prompt payment of this Bond and all bonds issued on a parity with this Bond, if
any, and that said Net Revenues are not pledged, hypothecated or anticipated in any way
other than by the issue of this Bond and all bonds issued on a parity with this Bond, if
any.
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IN TESTIMONY WHEREOF, the Issuer has caused this Bond to be signed by
its Mayor and countersigned by its City Recorder under the corporate seal of said Issuer
this day of , 19
Countersigned:
/s/ (Do Not Sign)
(SEAL)
City Recorder
/s/ (Do Not Sign)
Mayor
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A
CER r1r1CATE OF DATES OF PAYMENT AND AMOUNT
The undersigned authorized representative of the Utah Water Quality Board (the
"Water Quality Board"), hereby certifies that the Water Quality Board has received
written authorization from the Treasurer of the Issuer to stamp or write the amount or
amounts indicated below on the date or dates set forth opposite such amount(s); that the
amount last inserted under the column "Total Principal Sum" is the total amount received
by the Issuer for the issuance of this Bond, and that the undersigned has placed his/her
signature in the space provided opposite such amount(s) to evidence the same.
WQB
Amount of Date of Total Representative
Payment Payment Principal Sum Signature
REGISTRATION CERTIFICATE
(No writing to be placed herein except by the Bond Registrar)
Date of Signature of
Registration Name of Registered Owner Bond Registrar
Utah Water Quality Board
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