May 16, 2011 Twentieth Day
The
Worth County Board of Supervisors met pursuant to adjournment with all members
present.
Motion
by Abrams, second by Haugen, carried to approve the May 9, 2011 board minutes.
Motion by Abrams, second by Haugen, carried to
approve the bid from Meek Excavating in the amount of $11,827.00 for the DD2/L1
Main project.
A
conference call with Cerro Gordo County Supervisors Bob Amosson and Phil
Dougherty and Worth County Supervisors Ken Abrams, Dave Haugen, and Dennis May
was held regarding the joint DD35 Worth/DD66 Cerro Gordo drainage
assessment. Motion by Bob Amosson, Cerro
Gordo, second by Ken Abrams, Worth County, carried to approve Resolution Cerro
Gordo County 2011-47 and Worth County 05-16-11 to levy assessment for joint drainage district 35-66. The Boards of
Supervisors of Worth County and Cerro Gordo County
acting for and on behalf of the above drainage district FINDS:
1. There are insufficient funds in the
above drainage district accounts to pay for necessary repairs and maintenance
and to provide for a sinking fund to pay future maintenance and repair costs in
accordance with §468.61.
2. The drainage district has incurred or
shortly will incur costs for repair and maintenance.
NOW, THEREFORE, BE IT RESOLVED as follows:
1. An assessment in the amount of $30,243.28 shall be and
it is hereby levied and assessed against each individual tract of land and
highway within Joint Drainage District #35-66 in accordance with the
classification schedules on file in the drainage district records in the office
of the County Auditor. In accordance
with §468.57, if the owner of any land against which a levy exceeding $100.00
is made shall within thirty (30) days from the effective date of this
Resolution agree in writing that in consideration of having a right to pay his
assessment in ten (10) equal installments, he will not make any objection to
the legality of his assessment or the levy of taxes against his property, such
owner shall have the right to pay the assessment in ten (10) equal
installments. Interest shall accrue on
the unpaid assessment at the rate of 6% per annum in Cerro Gordo County and 8%
per annum in Worth County.
2. The effective date of these assessments is the 16th
day of May, 2011.
Vote being taken on the above Resolution resulted as
follows:
Ayes: Bob
Amosson, Phil Dougherty, Dennis May, Ken Abrams and Dave Haugen
Absent: Jay
Urdahl
Resolution declared adopted the 16th day of
May, 2011.
Chairman Phillip E. Dougherty
Cerro Gordo County Board of Supervisors
ATTEST: Kenneth
W. Kline
Cerro Gordo County Auditor
Chairman Dennis May
Worth County Board of Supervisors
ATTEST: Kay
Clark
Worth County Auditor
Motion
by Haugen, second by Abrams, carried to approve the drainage assessments:
DD2/Main for $35,500; DD3/L3 Upper Ditch for $5,000; DD3/L11 for $500; DD5/Main
for $10,000; DD6/Main for $2,500;
DD11/Main F for $15,000; DD11/L58 for $1,000; DD17 for $3,000; DD17/L2D for $3,000;
DD34/Upper Main Tile for $3,000; DD35 for $30,000.
Motion
by Haugen, second by Abrams, carried to approve the 2011 disallowances for
homestead exemptions.
Motion
Abrams, second by Haugen, carried to recess the regular board meeting.
Motion
by Haugen, second by Abrams, carried to open the public hearing for taking
action on the proposal to enter into a loan agreement in a principal amount not
to exceed $6,000,000 at 10:00 a.m.
Public comment was heard.
Motion
by Abrams, second by Haugen, carried to close the public hearing at 10:05 a.m.
Motion
by Haugen, second by Abrams, carried to reconvene the regular meeting.
Motion
by Haugen, second by Abrams, carried to recess the regular meeting until 4:00
p.m.
Motion
by Haugen, second by Abrams, carried to reconvene the regular meeting at 4:00
p.m.
Motion
by Abrams, second by Haugen, carried to approve Resolution #05-16-11A taking
additional action to enter into a Loan Agreement, approving Bond Purchase
Agreement and authorizing the use of a preliminary official statement in
connection therewith
WHEREAS, the
Board of Supervisors of Worth County, Iowa (the “County”), has heretofore
proposed to enter into a loan agreement (the “General Obligation Urban Renewal
Loan Agreement”) in a principal amount not to exceed $6,000,000 pursuant to the
provisions of Sections 331.402 and 331.441 of the Code of Iowa for the
essential county purpose of paying the cost, to that amount, of planning,
undertaking, and carrying out projects in the Worth County Consolidated Urban
Renewal Area consisting of the acquisition of certain property owned by Xenia
Rural Water District and making an economic development grant in connection
with construction of a rail loop north of the City of Manly, and, in lieu of
calling an election therefor, the County has published notice of the proposed
action, including notice of right to petition for an election, and no petition
has been filed with the County Auditor asking that the question of entering
into the General Obligation Urban Renewal Loan Agreement be submitted to the
registered voters of the County; and
WHEREAS, it has been proposed that
the County enter into the Loan Agreement with Northland Securities, Inc.,
Minneapolis, Minnesota (the “Underwriter”) and issue $5,500,000 General Obligation
Urban Renewal Economic Development Bonds, Series 2011A (the “Bonds”) in
evidence of its obligations under the Loan Agreement; and
WHEREAS, a certain Bond Purchase
Agreement (the “Bond Purchase Agreement”) has been prepared setting forth the
terms of the Bonds and the understanding between the County and the
Underwriter, and it is now necessary to make provision for the approval of the
Bond Purchase Agreement;
WHEREAS, a Preliminary Official
Statement (the “Preliminary Official Statement”) has been prepared to
facilitate the sale of the Bonds, and it is now necessary to make provision for
the approval of the Preliminary Official Statement and to authorize its use by
the Underwriter; and
NOW, THEREFORE, Be It Resolved by the Board of Supervisors of Worth County, Iowa,
as follows:
Section 1. The
Board hereby determines to enter into the Loan Agreement and issue the Bonds
and determines that this Resolution constitutes the “additional action”
required by Section 331.402 of the Code of Iowa.
Section 2. The Bond
Purchase Agreement is hereby approved in substantially the form as presented to
this Board. The Chairperson and County
Auditor are hereby authorized and directed to execute and deliver the Bond
Purchase Agreement to the Underwriter.
Section
3. The
County Auditor is hereby authorized to take such action as shall be deemed
necessary and appropriate with the assistance of the Underwriter to prepare an
official statement (the “Official Statement”) describing the Bonds and
providing for the terms and conditions of their sale, and all actions
heretofore taken in this regard are hereby ratified and approved.
Section
4. The
use by the Underwriter of the Preliminary Official Statement relating to the
Bonds, in substantially the form as has been presented to and considered by the
County, is hereby approved, and the Underwriter is hereby authorized to prepare
and use a final Official Statement for the Bonds substantially in the form of
the Preliminary Official Statement, but with such changes therein as are required
to conform the same to the terms of the Bonds and the resolution, when adopted,
providing for the issuance of the Bonds, and the County Auditor is hereby
authorized and directed to execute a final Official Statement for the Bonds, if
requested. The Preliminary Official
Statement as of its date is deemed final by the County within the meaning of
Rule 15(c)(2)-12 of the Securities and Exchange
Commission.
Section 5. All
resolutions and orders or parts thereof in conflict with the provisions of this
resolution, to the extent of such conflict, are hereby repealed.
Section 6. This
resolution shall be in full force and effect immediately upon its adoption and
approval, as provided by law.
Passed and approved
May 16, 2011.
Dennis May
Chairperson, Board of Supervisors
Attest:
Kay
Clark
County Auditor
The meeting adjourned until 9:00 A.M., May 23, 2011.
_______________________
________________________
Auditor Chairperson