Minutes - 3/28/2006

MARCH 28, 2006--THIRTEENTH MEETING OF THE WOODBURY COUNTY BOARD OF SUPERVISORS

The Board of Supervisors met on Tuesday, March 28, 2006 at 9:00 a.m. Board members present were
Batcheller, Boykin, Clausen, Monson, and Walish. Staff members present were Karen James, Board
Administrative Coordinator, Patrick F. Gill, Auditor/Clerk to the Board and Bobbier Johnson, Assistant County Attorney.

The Claims were approved as presented. Copy filed.

Meeting called to order.

Motion by Monson second by Boykin to approve the Board minutes of the March 21, 2006 meeting as submitted. Carried 3-0, Clausen and Walish abstained. Copy filed.

The Board approved the separation of Brent L. Trometer, Temporary Custodian, Building Services Dept., effective 03/17/2006. Resignation.

Motion by Boykin second by Walish to approve and authorize the Chairman to sign an “Authorization to Initiate Hiring Process” for a Temporary Aide, Social Services Dept. Entry level: wage plan, $5.50/hour. Carried 5-0. Copy filed.

Motion by Monson second by Walish to appoint Teresa Delfs, 205 W. 45th Street, Sioux City, to the Commission to Assess Damages, Category C, Licensed Real Estate Salesman or Real Estate Broker. Carried 5-0. Copy filed

Clinton Meadows presented the Board with an update on the Law Enforcement Intelligence Network Region One Fusion Center.

Motion by Boykin second by Walish to approve and set the date for bid opening of County Jail cameras as April 18, 2006 at 10:30 AM. Carried 4-1, Batcheller opposed.

The Public Hearing and Sale of property parcel #004740 (a.k.a. 117 Sioux Street) was held at 10:15 a.m. The Chairman called on anyone wishing to be heard on said sale.

Motion by Batcheller second by Boykin to close the Public Hearing and Sale of parcel #004740. Carried 5-0.

There were no bids.

Motion by Batcheller second by Boykin to close the bidding process. Carried 5-0.

Motion by Boykin second by Walish to approve and authorize the Chairman to sign a Resolution for suspension of taxes through the Redemption Process. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,032

RESOLUTION APPROVING PETITION FOR SUSPENSION
OF TAXES THROUGH THE REDEMPTION PROCESS


WHEREAS, Cleo Manolis as joint titleholder of real estate located at 914 Jones St., Sioux City, Woodbury County, Iowa, and legally described as follows:

Parcel #894728251003

East South 32 Feet Lot Three (3) Block 121 Sioux City East Addition, City of Sioux City, Woodbury County, Iowa
WHEREAS, Cleo Manolis, as joint titleholder of the aforementioned property has petitioned the Board of Supervisors for a suspension of taxes pursuant to the 1999 Iowa Code Section 447.9(3) and,

WHEREAS, the Board of Supervisors recognizes from documents provided that the petitioner is unable to provide to the public revenue; and

NOW, THEREFORE, BE IT RESOLVED, that the Woodbury County Board of Supervisors hereby directs the County Auditor to redeem parcel #894728251003 owned by the petitioner from the holder of a certificate of purchase of the amount necessary to redeem under section 447.1, and hereby directs the Woodbury County Treasurer to so record the approval of this tax suspension for this parcel.

SO RESOLVED this 28th day of March, 2006
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

Motion by Monson second by Walish to approve and authorize the Chairman to sign a Resolution approving a petition for the suspension of taxes for Edith Tucker, for a mobile home located at 3700 28th Street, Sioux City. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,033

RESOLUTION APPROVING PETITION FOR SUSPENSION
OF TAXES

WHEREAS, Edith Tucker, as titleholder of a mobile home located 3700 – 28th Street, Sioux City, Woodbury County, Iowa, and legally described as follows:

VIN 0567113968
1976 White/Green Cham 61 x 14
WHEREAS, Edith Tucker of the aforementioned mobile home has petitioned the Board of Supervisors for a suspension of taxes pursuant to the 1997 Iowa Code section 427.9, and

WHEREAS, the Board of Supervisors recognizes from documents provided that the petitioner is unable to provide to the public revenue; and

NOW, THEREFORE, BE IT RESOLVED, that the Woodbury County Board of Supervisors hereby grants the request for a suspension of taxes, and hereby directs the Woodbury County Treasurer to so record the approval of this tax suspension for this property.

SO RESOLVED this 28th day of March, 2006.
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

Motion by Boykin second by Batcheller to approve and authorize the Chairman to sign a Resolution approving a petition for the suspension of taxes for Melvin Mislivec, 120 Cook Street, Sioux City. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,034

RESOLUTION APPROVING PETITION FOR SUSPENSION OF TAXES


WHEREAS, Melvin Mislivec, is the titleholder of property located at 120 Cook Street., City of Sioux City, Woodbury County, Iowa, and legally described as follows:

Parcel #894729404001

Westerly 38.5 Feet North OF R/W Lots 1 & 2 Block 7 Except Northerly 16 Feet Lot 1
Sioux City Addition, City of Sioux City, Woodbury County, Iowa

WHEREAS, Melvin Mislivec as titleholder of the aforementioned real estate has petitioned the Board of Supervisors for a suspension of taxes pursuant to the 1997 Iowa Code section 427.9, and

WHEREAS, the Board of Supervisors recognizes from documents provided that the petitioner is unable to provide to the public revenue; and

NOW, THEREFORE, BE IT RESOLVED, that the Woodbury County Board of Supervisors hereby grants the request for a suspension of taxes, and hereby directs the Woodbury County Treasurer to so record the approval of this tax suspension for this property.

SO RESOLVED this 28th day of March, 2006.
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

Motion by Boykin second by Monson to set the Public Hearing and Sale of property parcel #503565 (a.k.a. 3403 Marshall Avenue) on April 11, 2006 at 10:15 a.m. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,035

NOTICE OF PROPERTY SALE
Parcel #503565

WHEREAS Woodbury County, Iowa was the owner under a tax deed of a certain parcel of real estate described as:

W. 63 Ft. of Lot 5 and Vacated E. ½ S. Cornelia St. Abutting Lot 5 in Block 16 of Table Addition, City of Sioux City, Woodbury County, Iowa
(3403 Marshall Ave.)

NOW THEREFORE,

BE IT RESOLVED by the Board of Supervisors of Woodbury County, Iowa as follows:

1. That a public hearing on the aforesaid proposal shall be held on the 11th Day of April, 2006 at 10:15 o’clock a.m. in the meeting room of the Board of Supervisors on the first floor of the Woodbury County Courthouse.

2. That said Board proposes to sell the said parcel of real estate at a public auction to be held on the 11th Day of April, 2006, immediately following the closing of the public hearing.

3. That said Board proposes to sell the said real estate to the highest bidder at or above a total minimum bid of $ 150.00 plus recording fees.

4. That this resolution, preceded by the caption "Notice of Property Sale" and except for this subparagraph 4 be published as notice of the aforesaid proposal, hearing and sale.

Dated this 28th Day of March, 2006.
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

The Public Hearing on the authorization of a loan agreement, and the issuance of notes to evidence the obligation of the County, was held at 10:20 a.m. The Chairman called on anyone wishing to be heard.

Motion by Batcheller second by Boykin to close the Public Hearing. Carried 5-0.

Motion by Boykin second by Monson to approve and receive for signatures a Resolution instituting proceedings to take additional action on said loan agreement and note issuance. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,036

RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF $800,000 GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2006

WHEREAS, pursuant to notice published as required by law, this Board has held a public meeting and hearing upon the proposal to institute proceedings for the authorization of a Loan Agreement and the issuance of $800,000 General Obligation Capital Loan Notes, Series 2006, for the purpose of paying costs of erection, remodeling, reconstruction, additions, and extensions to public buildings, together with the acquisition of equipment for the buildings, and has considered the extent of objections received from residents or property owners as to said proposal and, accordingly the following action is now considered to be in the best interests of the County and residents thereof:

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WOODBURY COUNTY, STATE OF IOWA:

Section 1. That this Board does hereby institute proceedings and take additional action for the authorization of a Loan Agreement and issuance in the manner required by law of $800,000 General Obligation Capital Loan Notes, Series 2006, to evidence the obligation thereof for the foregoing purpose.

Section 2. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2, because the County reasonably expects to reimburse with the proceeds of the Notes, all or a portion of original expenditures incurred in connection with the above purpose.

PASSED AND APPROVED this 28th day of March, 2006.
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

Motion by Walish second by Boykin to approve the tax exemption certificate. Carried 5-0.

Motion by Monson second by Boykin to approve and receive for signatures a Resolution approving and authorizing a form of loan agreement and authorizing and providing for the issuance of capital loan notes and levying a tax to pay the notes. Carried 4-1, Clausen opposed.

WOODBURY COUNTY, IOWA
RESOLUTION #10,037

RESOLUTION APPROVING AND AUTHORIZING A FORM
OF LOAN AGREEMENT AND AUTHORIZING AND PROVIDING
FOR THE ISSUANCE OF $800,000 GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2006, AND LEVYING A TAX TO PAY THE NOTES

WHEREAS, the Issuer is a political subdivision duly organized and existing under and by virtue of the laws and Constitution of the State of Iowa; and

WHEREAS, the Issuer is in need of funds to pay costs of erection, remodeling, reconstruction, additions, and extensions to public buildings, together with the acquisition of equipment for the buildings, an essential corporate purpose, and it is deemed necessary and advisable that a form of Loan Agreement be approved and authorized and General Obligation Capital Loan Notes, Series 2006, in the amount of $800,000 be issued for said purpose; and

WHEREAS, pursuant to notice published as required by Sections 331.402, 331.441(2)(b)(5)(d), and 331.443 of the Code of Iowa, as amended, this Board has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of the Notes, and the Board is therefore now authorized to proceed with the issuance of the Notes:

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WOODBURY COUNTY, STATE OF IOWA:

Section 1. Definitions. The following terms shall have the following meanings in this Resolution unless the text expressly or by necessary implication requires otherwise:

 "Issuer" and "County" shall mean Woodbury County, State of Iowa.

 "Loan Agreement" shall mean a Loan Agreement between the Issuer and a lender or lenders in substantially the form attached to and approved by this Resolution.

 "Note Fund" shall mean the fund required to be established by Section 4 of this Resolution.

 "Notes" shall mean $800,000 General Obligation Capital Loan Notes, Series 2006, authorized to be issued by this Resolution.

 "Paying Agent" shall be the County Treasurer, or such successor as may be approved by Issuer as provided herein and who shall carry out the duties prescribed herein as Issuer's agent to provide for the payment of principal of and interest on the Notes as the same shall become due.

 "Project" shall mean the costs of erection, remodeling, reconstruction, additions, and extensions to public buildings, together with the acquisition of equipment for the buildings.

 "Project Fund" shall mean the fund required to be established by this Resolution for the deposit of the proceeds of the Notes.

 "Rebate Fund" shall mean the fund so defined in and established pursuant to the Tax Exemption Certificate.

 "Registrar" shall be the County Treasurer of Sioux City, Iowa, or such successor as may be approved by Issuer as provided herein and who shall carry out the duties prescribed herein with respect to maintaining a register of the owners of the Notes. Unless otherwise specified, the Registrar shall also act as Transfer Agent for the Notes.

 "Resolution" shall mean this resolution authorizing the issuance of the Notes.

 "Tax Exemption Certificate" shall mean the Tax Exemption Certificate executed by the Treasurer and delivered at the time of issuance and delivery of the Notes.

 "Treasurer" shall mean the County Treasurer or such other officer as shall succeed to the same duties and responsibilities with respect to the recording and payment of the Notes issued hereunder.

Section 2. The form of Loan Agreement in substantially the form attached to this Resolution is hereby approved and is authorized to be executed and issued on behalf of the Issuer by the Chairperson and attested by the County Auditor.

Section 3. Levy and Certification of Annual Tax; Other Funds to be Used.

(a) Levy of Annual Tax. That for the purpose of providing funds to pay the principal and interest of the Notes hereinafter authorized to be issued, there is hereby levied for each future year the following direct annual tax on all of the taxable property in Woodbury County, Iowa, to-wit:

FISCAL YEAR (JULY 1 TO JUNE 30)
AMOUNT YEAR OF COLLECTION

$197,333 (In budget) 2006/2007
$185,600 2007/2008
$179,200 2008/2009
$172,800 2009/2010
$166,400 2010/2011

(NOTE: For example the levy to be made and certified against the taxable valuations of January 1, 2006, will be collected during the fiscal year commencing July 1, 2007).

(b) Additional County Funds Available. Principal and interest coming due at anytime when the proceeds of said tax on hand shall be insufficient to pay the same shall be promptly paid when due from current funds of the County available for that purpose and reimbursement shall be made from such special fund in the amounts thus advanced.

Section 4. Note Fund. Said tax shall be assessed and collected each year at the same time and in the same manner as, and in addition to, all other taxes in and for the County, and when collected they shall be converted into a special fund within the Debt Service Fund to be known as the "GENERAL OBLIGATION CAPITAL LOAN NOTE FUND 2006 NO. 1" (the "Note Fund"), which is hereby pledged for and shall be used only for the payment of the principal of and interest on the Notes hereinafter authorized to be issued; and also there shall be apportioned to said fund its proportion of taxes received by the County from railway, express, telephone and telegraph Department of Revenue.

Section 5. Application of Note Proceeds. Proceeds of the Notes other than accrued interest except as may be provided below shall be credited to the Project Fund and expended only for the purposes of the Project. Any amounts on hand in the Project Fund shall be available for the payment of the principal of or interest on the Notes at any time that other funds shall be insufficient to the purpose, in which event such funds shall be repaid to the Project Fund at the earliest opportunity. Any balance on hand in the Project Fund and not immediately required for its purposes may be invested not inconsistent with limitations provided by law or this Resolution. Accrued interest, if any, shall be deposited in the Note Fund.

Section 6. Investments of Note Fund Proceeds. All moneys held in the Note Fund and the Project Fund, shall be invested in investments permitted by Chapter 12B, Code of Iowa, 2005 (formerly Chapter 452, Code of Iowa, as amended) or deposited in financial institutions which are members of the Federal Deposit Insurance Corporation and the deposits in which are insured thereby and all such deposits exceeding the maximum amount insured from time to time by FDIC or its equivalent successor in any one financial institution shall be continuously secured in compliance with the State Sinking Fund provided under Chapter 12C of the Code of Iowa, 2005, as amended or otherwise by a valid pledge of direct obligations of the United States Government having an equivalent market value. All such interim investments shall mature before the date on which the moneys are required for payment of principal of or interest on the Notes as herein provided.

Section 7. Note Details, Execution and Redemption.

(a) Note Details. General Obligation Capital Loan Notes, Series 2006, of the County in the total amount of $800,000, shall be issued to evidence the obligations of the Issuer under the Loan Agreement pursuant to the provisions of Sections 331.402, 331.441(2)(b)(5)(d), and 331.443 of the Code of Iowa, as amended, for the aforesaid purpose. The Notes shall be issued in one or more series and shall be on a parity and secured equally and ratably from the sources provided in Section 3 of this Resolution. The Notes shall be designated "GENERAL OBLIGATION CAPITAL LOAN NOTE, SERIES 2006", be dated April 1, 2006, and bear interest from the date thereof, until payment thereof, at the office of the Paying Agent, said interest payable on December 1, 2006, and semiannually thereafter on the 1st day of June and December in each year until maturity at the rates hereinafter provided.

The Notes shall be executed by the manual or facsimile signature of the Chairperson and attested by the manual or facsimile signature of the County Auditor, and impressed or printed with the seal of the County and shall be fully registered as to both principal and interest as provided in this Resolution. Principal, interest and premium, if any, shall be payable at the office of the Paying Agent by mailing of a check to the registered owner of the Note. The Notes shall be in the denomination of $5,000 or multiples thereof and shall mature and bear interest as follows:

Interest Principal Maturity
Rate Amount June 1st

4.00% $160,000 2007
4.00% $160,000 2008
4.00% $160,000 2009
4.00% $160,000 2010
4.00% $160,000 2011

(b) Redemption. All Notes, or any portion of them, may be called for redemption by the Issuer and paid before maturity upon approval of the Purchaser.


Section 8. Registration of Notes; Appointment of Registrar; Transfer; Ownership; Delivery; and Cancellation.

(a) Registration. The ownership of Notes may be transferred only by the making of an entry upon the books kept for the registration and transfer of ownership of the Notes, and in no other way. The County Treasurer is hereby appointed as Registrar under the terms of this Resolution. Registrar shall maintain the books of the Issuer for the registration of ownership of the Notes for the payment of principal of and interest on the Notes as provided in this Resolution. All Notes shall be negotiable as provided in Article 8 of the Uniform Commercial Code subject to the provisions for registration and transfer contained in the Notes and in this Resolution.

(b) Transfer. The ownership of any Note may be transferred only upon the Registration Books kept for the registration and transfer of Notes and only upon surrender thereof at the office of the Registrar together with an assignment duly executed by the holder or his duly authorized attorney in fact in such form as shall be satisfactory to the Registrar, along with the address and social security number or federal employer identification number of such transferee (or, if registration is to be made in the name of multiple individuals, of all such transferees). In the event that the address of the registered owner of a Note (other than a registered owner which is the nominee of the broker or dealer in question) is that of a broker or dealer, there must be disclosed on the Registration Books the information pertaining to the registered owner required above. Upon the transfer of any such Note, a new fully registered Note, of any denomination or denominations permitted by this Resolution in aggregate principal amount equal to the unmatured and unredeemed principal amount of such transferred fully registered Note, and bearing interest at the same rate and maturing on the same date or dates shall be delivered by the Registrar.

(c) Registration of Transferred Notes. In all cases of the transfer of the Notes, the Registrar shall register, at the earliest practicable time, on the Registration Books, the Notes, in accordance with the provisions of this Resolution.

(d) Ownership. As to any Note, the person in whose name the ownership of the same shall be registered on the Registration Books of the Registrar shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal of any such Notes and the premium, if any, and interest thereon shall be made only to or upon the order of the registered owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Note, including the interest thereon, to the extent of the sum or sums so paid.

(e) Cancellation. All Notes which have been redeemed shall not be reissued but shall be cancelled by the Registrar. All Notes which are cancelled by the Registrar shall be destroyed and a certificate of the destruction thereof shall be furnished promptly to the Issuer; provided that if the Issuer shall so direct, the Registrar shall forward the cancelled Notes to the Issuer.

(f) Non-Presentment of Notes. In the event any payment check representing payment of principal of or interest on the Notes is returned to the Paying Agent or if any note is not presented for payment of principal at the maturity or redemption date, if funds sufficient to pay such principal of or interest on Notes shall have been made available to the Paying Agent for the benefit of the owner thereof, all liability of the Issuer to the owner thereof for such interest or payment of such Notes shall forthwith cease, terminate and be completely discharged, and thereupon it shall be the duty of the Paying Agent to hold such funds, without liability for interest thereon, for the benefit of the owner of such Notes who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on his part under this Resolution or on, or with respect to, such interest or Notes. The Paying Agent's obligation to hold such funds shall continue for a period equal to two years and six months following the date on which such interest or principal became due, whether at maturity, or at the date fixed for redemption thereof, or otherwise, at which time the Paying Agent, shall surrender any remaining funds so held to the Issuer, whereupon any claim under this Resolution by the Owners of such interest or Notes of whatever nature shall be made upon the Issuer.

(g) Registration and Transfer Fees. The Registrar may furnish to each owner, at the Issuer's expense, one note for each annual maturity. The Registrar shall furnish additional Notes in lesser denominations (but not less than the minimum denomination) to an owner who so requests.

Section 9. Reissuance of Mutilated, Destroyed, Stolen or Lost Notes. In case any outstanding Note shall become mutilated or be destroyed, stolen or lost, the Issuer shall at the request of Registrar authenticate and deliver a new Note of like tenor and amount as the Note so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Note to Registrar, upon surrender of such mutilated Note, or in lieu of and substitution for the Note destroyed, stolen or lost, upon filing with the Registrar evidence satisfactory to the Registrar and Issuer that such Note has been destroyed, stolen or lost and proof of ownership thereof, and upon furnishing the Registrar and Issuer with satisfactory indemnity and complying with such other reasonable regulations as the Issuer or its agent may prescribe and paying such expenses as the Issuer may incur in connection therewith.

Section 10. Record Date. Payments of principal and interest, otherwise than upon full redemption, made in respect of any Note, shall be made to the registered holder thereof or to their designated Agent as the same appear on the books of the Registrar on the 15th day preceding the payment date. All such payments shall fully discharge the obligations of the Issuer in respect of such Notes to the extent of the payments so made. Payment of principal shall only be made upon surrender of the Note to the Paying Agent.

Section 11. Execution, Authentication and Delivery of the Notes. The Chairperson and Auditor shall execute and deliver the Notes to the Registrar, who shall authenticate the Notes and deliver the same to or upon order of the Purchaser. No Note shall be valid or obligatory for any purpose or shall be entitled to any right or benefit hereunder unless the Registrar shall duly endorse and execute on such Note a Certificate of Authentication substantially in the form of the Certificate herein set forth. Such Certificate upon any Note executed on behalf of the Issuer shall be conclusive evidence that the Note so authenticated has been duly issued under this Resolution and that the holder thereof is entitled to the benefits of this Resolution.


Section 12. Form of Note. Notes shall be printed in substantial compliance with standards proposed by the American Standards Institute substantially in the form as follows:

(6)

(7)
(6)

(8)


(1)


(2)
(3)
(4)
(5)


(9)

(9a)


(10)
(Continued on the back of this Note)


(11)(12)(13)
(14)
(15)


FIGURE 1
(Front)

(10)
(Continued)


(16)

FIGURE 2
(Back)

The text of the Notes to be located thereon at the item numbers shown shall be as follows:

Item 1, figure 1 = "STATE OF IOWA"
"COUNTY OF WOODBURY"
"GENERAL OBLIGATION CAPITAL LOAN NOTE"
"SERIES 2006"
"ESSENTIAL CORPORATE PURPOSE"

Item 2, figure 1 = Rate:
Item 3, figure 1 = Maturity:
Item 4, figure 1 = Note Date: April 1, 2006
Item 5, figure 1 = Cusip No.:
Item 6, figure 1 = "Registered"
Item 7, figure 1 = Certificate No.
Item 8, figure 1 = Principal Amount: $

Item 9, figure 1 = The County of Woodbury, State of Iowa, a political subdivision organized and existing under and by virtue of the Constitution and laws of the State of Iowa (the "Issuer"), for value received, promises to pay from the source and as hereinafter provided, on the maturity date indicated above, to

Item 9A, figure 1 = (Registration panel to be completed by Registrar or Printer with name of Registered Owner).

Item 10, figure 1 = or registered assigns, the principal sum of (principal amount written out) THOUSAND DOLLARS in lawful money of the United States of America, on the maturity date shown above, only upon presentation and surrender hereof at the office of the County Treasurer, Paying Agent of this issue, or its successor, with interest on said sum from the date hereof until paid at the rate per annum specified above, payable on December 1, 2006, and semiannually thereafter on the 1st day of June and December in each year.

Interest and principal shall be paid to the registered holder of the Note as shown on the records of ownership maintained by the Registrar as of the 15th day preceding such interest payment date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

This Note is issued pursuant to the provisions of Sections 331.402, 331.441(2)(b)(5)(d), and 331.443 of the Code of Iowa, as amended, for the purpose of paying costs of erection, remodeling, reconstruction, additions, and extensions to public buildings, together with the acquisition of equipment for the buildings, and in order to evidence the obligations of the Issuer under a certain Loan Agreement dated March 28, 2006, in conformity to a Resolution of the Board of the Issuer duly passed and approved. For a complete statement of the revenues and funds from which and the conditions under which this Note is payable, a statement of the conditions under which additional Notes of equal standing may be issued, and the general covenants and provisions pursuant to which this Note is issued, reference is made to the above described Loan Agreement and Resolution.

All Notes, or any portion of them, may be called for redemption by the Issuer and paid before maturity upon approval of the Purchaser.

Ownership of this Note may be transferred only by transfer upon the books kept for such purpose by the County Treasurer the Registrar. Such transfer on the books shall occur only upon presentation and surrender of this Note at the office of the Registrar as designated below, together with an assignment duly executed by the owner hereof or his duly authorized attorney in the form as shall be satisfactory to the Registrar. Issuer reserves the right to substitute the Registrar and Paying Agent but shall, however, promptly give notice to registered noteholders of such change. All Notes shall be negotiable as provided in Article 8 of the Uniform Commercial Code and subject to the provisions for registration and transfer contained in the Note Resolution.

And it is hereby represented and certified that all acts, conditions and things requisite, according to the laws and Constitution of the State of Iowa, to exist, to be had, to be done, or to be performed precedent to the lawful issue of this Note, have been existent, had, done and performed as required by law; that provision has been made for the levy of a sufficient continuing annual tax on all the taxable property within the territory of the Issuer for the payment of the principal and interest of this Note as the same will respectively become due; that the faith, credit, revenues and resources and all the real and personal property of the Issuer are irrevocably pledged for the prompt payment hereof, both principal and interest; and the total indebtedness of the Issuer including this Note, does not exceed the constitutional or statutory limitations.

This Note is a "qualified tax-exempt obligation" designated by the Issuer for purposes of Section 265(b)(3)(B) of the Internal Revenue Code of 1986.

IN TESTIMONY WHEREOF, the Issuer by its Board of Supervisors, has caused this Note to be signed by the manual signature of its Chairperson and attested by the manual signature of its County Auditor, with the seal of said County impressed hereon, and to be authenticated by the manual signature of an authorized representative of the Registrar, the County Treasurer, Sioux City, Iowa.

Item 11, figure 1 = Date of Authentication:
Item 12, figure 1 = This is one of the Notes described in the within mentioned Resolution, as registered by the County Treasurer.

COUNTY TREASURER, Registrar

By:
Authorized Signature

Item 13, figure 1 = Registrar and Transfer Agent: County Treasurer
Paying Agent: County Treasurer

SEE REVERSE FOR CERTAIN DEFINITIONS


Item 14, figure 1 = (SEAL)

Item 15, figure 1 = [Signature Block]
WOODBURY COUNTY, STATE OF IOWA

By: (facsimile signature)
Chairperson of the Board of Supervisors

ATTEST:

By: (facsimile signature)
County Auditor

Item 16, figure 2 = [Assignment Block]
[Information Required for Registration]

ASSIGNMENT

For value received, the undersigned hereby sells, assigns and transfers unto _________________ (Social Security or Tax Identification No. ) the within Note and does hereby irrevocably constitute and appoint ____________________________ attorney in fact to transfer the said Note on the books kept for registration of the within Note, with full power of substitution in the premises.

Dated .


(Person(s) executing this Assignment sign(s) here)

SIGNATURE )
GUARANTEED)

IMPORTANT - READ CAREFULLY

The signature(s) to this Power must correspond with the name(s) as written upon the face of the certificate(s) or Note(s) in every particular without alteration or enlargement or any change whatever. Signature guarantee must be provided in accordance with the prevailing standards and procedures of the Registrar and Transfer Agent. Such standards and procedures may require signature to be guaranteed by certain eligible guarantor institutions that participate in a recognized signature guarantee program.

INFORMATION REQUIRED FOR REGISTRATION OF TRANSFER

Name of Transferee(s)
Address of Transferee(s)
Social Security or Tax
Identification Number of
Transferee(s)
Transferee is a(n):
Individual* Corporation
Partnership Trust

*If the Note is to be registered in the names of multiple individual owners, the names of all such owners and one address and social security number must be provided.

The following abbreviations, when used in the inscription on the face of this Note, shall be construed as though written out in full according to applicable laws or regulations:

TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in common

IA UNIF TRANS MIN ACT - ..........Custodian..........
(Cust) (Minor)
under Iowa Uniform Transfers
to Minors Act...................
(State)

ADDITIONAL ABBREVIATIONS MAY ALSO BE
USED THOUGH NOT IN THE ABOVE LIST

Section 13. Contract Between Issuer and Purchaser. This Resolution shall constitute a contract between said County and the purchaser of the Notes.

Section 14. Non-Arbitrage Covenants. The Issuer reasonably expects and covenants that no use will be made of the proceeds from the issuance and sale of the Notes issued hereunder which will cause any of the Notes to be classified as arbitrage bonds within the meaning of Section 148(a) and (b) of the Internal Revenue Code of the United States, and that throughout the term of the Notes it will comply with the requirements of said statute and regulations issued thereunder.

To the best knowledge and belief of the Issuer, there are no facts or circumstances that would materially change the foregoing statements or the conclusion that it is not expected that the proceeds of the Notes will be used in a manner that would cause the Notes to be arbitrage bonds. Without limiting the generality of the foregoing, the Issuer hereby agrees to comply with the provisions of the Tax Exemption Certificate and the provisions of the Tax Exemption Certificate are hereby incorporated by reference as part of this Resolution. The Treasurer is hereby directed to make and insert all calculations and determinations necessary to complete the Tax Exemption Certificate in all respects and to execute and deliver the Tax Exemption Certificate at issuance of the Notes to certify as to the reasonable expectations and covenants of the Issuer at that date.

Section 15. Severability Clause. If any section, paragraph, clause or provision of this Resolution be held invalid, such invalidity shall not affect any of the remaining provisions hereof, and this Resolution shall become effective immediately upon its passage and approval.

Section 16. Additional Covenants, Representations and Warranties of the Issuer. The Issuer certifies and covenants with the purchasers and holders of the Notes from time to time outstanding that the Issuer through its officers, (a) will make such further specific covenants, representations and assurances as may be necessary or advisable; (b) comply with all representations, covenants and assurances contained in the Tax Exemption Certificate, which Tax Exemption Certificate shall constitute a part of the contract between the Issuer and the owners of the Notes; (c) consult with bond counsel (as defined in the Tax Exemption Certificate); (d) pay to the United States, as necessary, such sums of money representing required rebates of excess arbitrage profits relating to the Notes; (e) file such forms, statements and supporting documents as may be required and in a timely manner; and (f) if deemed necessary or advisable by its officers, to employ and pay fiscal agents, financial advisors, attorneys and other persons to assist the Issuer in such compliance.

Section 17. Amendment of Resolution to Maintain Tax Exemption. This Resolution may be amended without the consent of any owner of the Notes if, in the opinion of bond counsel, such amendment is necessary to maintain tax exemption with respect to the Notes under applicable Federal law or regulations.

Section 18. Qualified Tax-Exempt Obligations. For the sole purpose of qualifying the Notes as "Qualified Tax Exempt Obligations" pursuant to the Internal Revenue Code of the United States, the Issuer designates the Notes as qualified tax-exempt obligations and represents that the reasonably anticipated amount of tax exempt governmental and Code Section 501(c)3 obligations which will be issued during the current calendar year will not exceed Ten (10) Million Dollars.

Section 19. Repeal of Conflicting Resolutions or Ordinances. All ordinances and resolutions and parts of ordinances and resolutions in conflict herewith are hereby repealed.

PASSED AND APPROVED this 28th day of March, 2006.
WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

Richard Storm, County Engineer, presented a Resolution of appreciation to retiree Arnold Grell for his years of service to Woodbury County.

The Public Hearing for the purchase of land for public improvement project BRS-CO97(63)—60-97 was held at 10:30 a.m. The Chairman called on anyone wishing to be heard on said purchase.

Motion by Boykin second by Batcheller to close the Public Hearing. Carried 5-0.

Motion by Monson second by Walish to approve and authorize the Chairman to sign a Resolution to acquire land for public improvement project BRS-CO97(63)—60-97. Carried 5-0.

WOODBURY COUNTY, IOWA
RESOLUTION #10,038

NOTICE OF INTENT TO COMMENCE BRS-CO97(63)-60-97 PROJECT AND TO ACQUIRE LAND FOR SAID PROJECT

WHEREAS, Woodbury County, Iowa intends to commence a public improvement project to construct a replacement of an existing bridge on L-36 over the Little Sioux River with a 490’ x 30’ concrete bridge and approach grading and paving of Osceola Avenue, and to acquire agricultural land for the project; and,

WHEREAS, under the provisions of Chapter 6B of the Iowa Code, a governmental body which proposes to acquire agricultural land under power of eminent domain for a public improvement project is required to hold a public hearing; and

WHEREAS, the owners of such agricultural land, the NE ¼ of Section 34, T89N, R42W, Union Township, Woodbury County, Iowa, which may be acquired in whole or in part for the public improvement project, have been notified by ordinary mail on February 24, 2006 and by publication on March 13, 2006 pursuant to Sections 6A.21(a) and 6B.2A of the Iowa Code.

WHEREAS, a public hearing on the proposed public improvement and proposed acquisition of agricultural was held on the 28th day of March, 2006 at 10:30 o’clock a.m. in the meeting room of the Board of Supervisors on the first floor of the Woodbury County Courthouse.

IT IS HEREBY RESOLVED by the Board of Supervisors of Woodbury County, Iowa as follows:

1. That it hereby authorizes commencement of BRS-CO97(63)-60-97 Project and the acquisition of land by condemnation for said Project.

2. That this resolution be published as notice of the intent to commence the BRS-CO97(63)-60-97 Project and the intent to acquire land by condemnation for said Project.
SO RESOLVED this 28th day of March, 2006.

WOODBURY COUNTY BOARD OF SUPERVISORS

Copy filed.

The Public Hearing to establish the final order for Derocher Path Secondary Road assessment district was held at 10:35 a.m. The Chairman called on anyone wishing to be heard.

Motion by Boykin second by Monson to close the Public Hearing. Carried 5-0.

Motion by Boykin second by Walish to approve and authorize the Chairman to sign the Iowa Department of Transportation Secondary Roads budget for fiscal year 2006-2007 as submitted. Carried 5-0. Copy filed.

Motion by Boykin second by Batcheller to approve and authorize the Chairman to sign the Secondary Roads construction program for fiscal years 2007-2011 as submitted. Carried 5-0. Copy filed.

There was no action taken to award the bid for dump boxes, hoists, and hydraulics.

Motion by Batcheller second by Boykin to approve the recommendation of the County Engineer and award the bid for two 11’ and two 12’ snow plows to Murphy Tractor, Sioux City, in the amount of $49,172.00. Carried 5-0. Copy filed.

Motion by Monson second by Boykin to approve the recommendation of the County Engineer and award the bid for six tail gate sanders to Steffen, Incorporated, Sioux City, in the amount of $25,770.00. Carried 5-0. Copy filed.

The Chairman asked if there were any individual or group wishing to make a presentation of items not on the agenda or Supervisors’ concerns.

The Board received an update on Project Compass.

The Board adjourned the regular meeting until April 4, 2006.


Related Documents · 3/28/2006 Meeting

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This content was printed from the County website at woodburycountyiowa.gov on April 15, 2024.