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HomeMy WebLinkAbout2005-646-07.18.2005 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2005-646 RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A VISION IOWA PROGRAM GRANT AWARD AGREEMENT AND A CEDAR VALLEY RIVERFRONT RENAISSANCE JOINT DEVELOPMENT AGREEMENT BY AND BETWEEN THE VISION IOWA BOARD AND THE CITIES OF WATERLOO AND CEDAR FALLS, IOWA, AND THE H. W. GROUT TRUST AND CERTAIN LEGAL OPINIONS REQUIRED BY SAID GRANT AWARD AGREEMENT. WHEREAS, the City of Waterloo, Iowa, together with the City of Cedar Falls, Iowa, and the H. W. Grout Trust, submitted an application to the Vision Iowa Board requesting assistance in financing the Cedar Valley Riverfront Renaissance Project (the "Project" ) ; and WHEREAS, the Vision Iowa Board, on January 8 , 2003 , voted to award a grant of $9, 500, 000 for the construction of the Project, subject to certain terms and conditions ; and WHEREAS, the application to the Vision Iowa Board requires execution of a Vision Iowa Program Grant Award Agreement (the "Grant Agreement" ) , after proper approval of the city councils of the cities of Waterloo and Cedar Falls, and the Board of Trustees of H. W. Grout Trust; and WHEREAS, the City Council of the City of Waterloo, Iowa, has been presented with a proposed Grant Agreement, with accompanying Exhibits A through J attached thereto, and the City Council of the City of Waterloo, Iowa, has been advised by City staff that the proposed Grant Agreement is acceptable to Waterloo city staff, and to representatives of the City of Cedar Falls and the H. W. Grout Trust, and appears to be acceptable to staff of the Vision Iowa Board; and WHEREAS, the Grant Agreement includes provision for execution of a 28E agreement by and among the Cities of Waterloo and Cedar Falls, Iowa, and H. W. Grout Trust, in the form and of the content set forth in Exhibit I to the Grant Agreement, captioned "Cedar Valley Riverfront Renaissance Joint Development Agreement, " all as more particularly described in said exhibit to the Grant Agreement; and WHEREAS, the Grant Agreement requires the execution and delivery of certain opinions of the City Attorney and the City' s bond counsel, in the form and of the content set forth in Exhibits E-1, E-2 , and E-3 to the Grant Agreement, and the City Attorney and the City' s bond counsel should be authorized to furnisa said opinions to the Vision Iowa Board on behalf of the City of WaLerloo, `owa; and Resolution No . 2005-646 Page 2 WHEREAS, the City Council of the City of Waterloo, Iowa, finds that said Grant Agreement, and the Cedar Valley Riverfront Renaissance Joint Development Agreement called for in the Grant Agreement, are in the best interests of the City of Waterloo, Iowa, and should be approved, and the Mayor and City Clerk should be authorized to execute and deliver said agreements by and on behalf of the City of Waterloo, Iowa. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: 1 . That the form and content of the Grant Agreement, the provisions of which are incorporated herein by reference, be and the same are hereby in all respects authorized, approved and confirmed, and the Mayor and the City Clerk be and they are hereby authorized, empowered and directed to execute, attest, seal and deliver the Grant Agreement for and on behalf of the City in substantially the form and content now before this meeting, but with such changes, modifications, additions or deletions therein as shall be approved by such officers and that do not materially adversely alter any promise, covenant, representation, warranty, or other term of the Grant Agreement affecting the rights or duties of the City, and that from and after the execution and delivery of the Grant Agreement by the Mayor and City Clerk, and by the authorized representatives of the City of Cedar Falls, Iowa, and the H. W. Grout Trust, the Mayor and the City Clerk are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Grant Agreement as executed. 2 . That the City Attorney and the City' s bond counsel be and they are hereby in all respects authorized, empowered and directed to furnish the forms of Opinions of Legal Counsel as are set forth in Exhibit E to the Grant Agreement, including Exhibit E-1, General Form of Opinion of Legal Counsel, Exhibit E-2 , Forms of Opinion of Legal Counsel as to Real Property, and Exhibit E-3 , Form of Opinion of Bond Counsel, at the time provided for in the Grant Agreement, as may be necessary to carry out and comply with the provisions of the Grant Agreement as executed. 3 . That the form and content of the Cedar Valley Riverfront Renaissance Joint Development Agreement, which comprises Exhibit I, Form of 28E Agreement, of the Grant Agreement, the provisions of which are incorporated herein by reference, be and the same is hereby in all respects authorized, approved and confirmed, and the Mayor and the City Clerk be and they are hereby authorized, empowered and directed to execute, attest, seal and deliver the Cedar Valley Riverfront Renaissance Joint Development Agreement for and on behalf of the City in substantially the form and content now before this meeting, but with such changes, modifications, additions or deletions therein as shall be approved by such officers and that do not materially adversely alter any promise, covenant, representation, warranty, or other term of the Grant Agreement affecting the rights or duties of the City, and that from and after the execution and delivery of the Cedar Valley Riverfront Renaissance Joint Ike;aolution No. 2005-646 ti Page 3 J t: — J v ¢ -r J CDS J _ Ti 717 c - • Development Agreement, by the Mayor and City Clerk, and by the L 1. C autho zed representatives of the City of Cedar Falls, Iowa, and 0 � � the H. W. Grout Trust, the Mayor and the City Clerk are hereby <authorized, empowered and directed to do all such acts and =things and to execute all such documents as may be necessary to " carry out and comply with the provisions of said Agreement as s executed. • PASSED AND ADOPTED this 18th day of July, 2005 . c s ti c c1 N — - J .• v / �_- Timothy J Hurl Mayor —` _ — 7. r s ce Nancy Ecker CMC ;�. City Clerk - 'k' CERTIFICATE ti I, Nancy Eckert, City Clerk of the City of Waterloo, Iowa, do hereby certify that the preceding is a true and complete copy of Resolution No. 2005-646, as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 18th day of July, 2005 . Witness my hand and seal of office this 20th day of July, 2005 . (SEAL) Nancy Ecke t CMC City Clerk