HomeMy WebLinkAbout1981-278-06.01.1981 RESOLUTION NO. y/ a 7�
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA, AS THE WATERLOO HOUSING AUTHORITY, APPROVING
SUBMISSION OF PROPOSED FISCAL YEAR 1981-82 OPERATING
BUDGET FOR RIDGEWAY TOWERS, IA-50-3 .
WHEREAS, the project operating budget must be submitted to the
U. S. Department of Housing and Urban Development in order to be
eligible for performance funding operating subsidy.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Waterloo, Iowa that:
1. The proposed expenditures are necessary in the efficient
and economical operation of the Waterloo Housing Authority
for the purpose of service to low-income families in the
City of Waterloo, Iowa.
2. The financial plan is reasonable in that:
(i) . It indicates a source of funding adequate to cover
all proposed expenditures.
(ii) . It does not provide for use of Federal funding in
excess of that payable under the provisions of
those regulations.
3. All proposed rental charges and expenditures will be con-
sistent with provisions of federal law and the Annual
Contributions Contract.
Pursuant to the rent schedule approved by the U. S. Department
of Housing and Urban Development, the Waterloo Housing Authority
certifies that it is in compliance with the provisions of Section
860. 407 , Subpart D of Title XXIV of the Code of Federal Regulations,
in that the aggregate annual gross rent of families residing in the
dwelling units for the fiscal year beginning July 1, 1981 will not
be less than an amount equal to one-fifth (1/5th) of the sum of the
"Family Income, " as defined in 24 CFR 860. 403 (f) , of all such families ,
as evidenced by the following estimates for the fiscal year:
1. Aggregate Annual "Family Income" $230, 585
2. Total Annual Gross Rent 47 , 484
3. Annual Rent-Income Ratio:
Line 2 divided by Line 1 21%
In addition, pursuant to 24 CFR 890. 115 , the Waterloo Housing
Authority is in compliance with Section 207 (A) of the Annual Con-
tributions Contract, which states in part, that the PHA is
reexamining the incomes of families living in the project at least
once a year, except that families whose heads or whose sole members
that are sixty-two (62) years of age or over are reexamined once
every two (2) years .
CERTIFICATE
I, Gene 0. Colburn, the duly appointed Executive Director of the
Waterloo Housing Authority of Waterloo, Iowa, do hereby certify that
the above Resolution is a true copy of the Resolution passed by the
Waterloo Housing Authority of Waterloo, Iowa at a regular meeting
held on the 1st day of June, 1981.
In witness whereof I have hereunto set my 'and this 1st •ay of 4001",
Gene O. Col. .-
I certify this is a true and correct statement.
RESOLUTION NO. /9"/ 7d
(CONTINUED)
Passed and adopted this 1st day of June, 1981,
approved by the Mayor this .1st day of June,1981.
Leo P. Rooff, May
ATTEST:
7)2
Lary— rger,- "City C rk
CERTIFICATE
I, Larry Burger, City Clerk of the City of Waterloo, Iowa, do hereby
. certify that attached hereto is a true and complete copy of
Resolution No. ( 9 V( . 7eas passed and adopted by the Council
of the City of Waterloo, Iowa, on the 1st day of June, 1981.
Witness My Hand and Seal of Office this 1st day of June, 1981.
SEAL
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WATERLOO HOUSING AUTHORITY
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HUD-5I/66a
February 1967
(Form.rly PHA-1466a)
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
LOW-RENT PUBLIC HOUSING
ELECTRICITY DATA: 4/80 — 3/81
(Period)
Location: WATERLOO, IOWA
Project No.
or Numbers IA-50-3 Number of Units Served 50
Electricity Avg. No- Rooms per Unit 3
GENERAL SxRV. , A/C, SPACE HEAT Number of Check Meters U
Used for—._
Electricity Supplied Are Tenants Billed fr
by IOWA PUBLIC SERVICE CO. Excess Electricity 22.50/Mo. June, July, Aug
Number of Meters 1 Excess Electricity Charges
Rate Schedule Designation Collected $ 2,700
ACTUAL BILLING FUEL ADJ. OTHER ADJ.
CON SUadPT10N DEMAND DEMAND NET
BILLING PERIOD KWH MONTHLY
BILL
(Unit) (Unit) (e per hill) (Specify)
4 - -
JAN. TO FEB. '81 82,000 .00120 3,346.8E
FEB. TO MAR. '81 58,000 .00070 2,492.2E
MAR. TO APR. '81 47,200 .00400 2,106.52
APR. TO MAY '80 45,200 .00010 1,777.24
MAY TO JUNE '80 36,800 .00100 2,125.6;
JUNE TO JULY '80 47,600 .00130 2,533.0;
JULY TO AUG. '80 42,400 .00280 2,405.82
---------- ------------
AUG. TO SEPT. '80 42,400 .00000 2,287. 11
SEPT. TO OCT. '80 30,400 .00100 1,225.6E
OCT. TO NOV. '80 43,600 I .00090 1,834.9:
NOV. TO DEC. '80 69,200 I — v .00100 2,881.76
DEC. TO JAN. '80 87,600 .00120 3,539.5�
YEARLY TOTALS 632,000 28,556.48
MONTHLY AVERAGE 52,667 2,379.71
AVERAGE PUM 47.59
AVERAGE PRM 1
AVERAGE COST PER KWH .00167
223109-P HUD-Wash., O.C. U.S.0 GOVERNMENT PNINTING OFFICE: 1978-665-693
HUD•51.4666 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
January 1967
(Form..ly PHA-14666) LOW-RENT PUBLIC HOUSING
GAS DATA: PROJECT HAS NO GAS
(Period)
LOCATION: WATERLOO, IOWA
Project Number or Numbers IA-50-3 Number of Units Served
Gas Used for _ Avg. No. Rooms Per Unit
B.T.U. Content per Number of Check Meters
cu. ft. or gallon*� Are Tenants Billed
Gas Supplied for Excess Gas
by Excess Gas Charges
Number of Meters Collected $ —
Rote Schedule Designation -- —
MAXIMUM -
CONSUMPTION DAILY ADJUSTMENTS
BILLING PERIOD DEMAND NET BILL
CU. FT., THERMS.
fUnit) [Type)
JAN. TO FEB.
FEB. TO MAR.
MAR. TO APR.
APR. TO MAY PROJECT HAS NO GA3.
MAY TO JUNE
JUNE TO JULY
JULY TO AUG.
AUG. TO SEPT.
SEPT. TO OCT. —
OCT. TO NOV.
NOV. TO DEC.
DEC. TO JAN.
4
YEARLY TOTALS
MONTHLY AVERAGES
AVERAGE PUM
AVERAGE PRM
AVERAGE COST - per Therm
- Per LOGO Cu. Ft. (¢ or $ )
Delete term nut applicable
275933•P HUD-Wash., D.C. HUD-51466t
HUD•51466c U.S. DEPARTMEN r OF HOUSING AND URBAN DEVELOPMENT
April 1967
(Formerly PHA.I466c)
HOUSING ASSISTANCE ADMINISTRATION
WATER AND SEWAGE DISPOSAL DATA: 3/80 — 2/81
(Period)
LOCATION: WATERLOO, IOWA
Project Number
or Numbers IA-50-3
Number of Meters 1 Number of Units Served 50
Water Supplied Avg. No. Rooms Per Unit _ —
by__ WATERLOO DATER WORKS Are Tenants Charged
Rate Schedule — for Excess Water NO
Excess Charges
Designation — Water
Collected $ .00
— Sewage Disposal _ —
BILLING PERIOD CONSUMPTION SPECIAL NET NET SEWAGE
C.C.F. OR ADJUSTMENTS WATER
M. GALS. OR CHARGES BILL CHARGESDISPRAL
JAN. TO FEB. '81 126 44.31 51.51
FEB. TO MAR. '81 117 41.62 48. 18
MAR. TO APR. '80 124
43. 71 47. 14
APR. TO MAY '80 144 49.69 53.94
iMAY TO JUNE '80 154
52.67 57.34
JUNE TO JULY '80 157
53.57 62.98
JULY TO AUG. '80 162
55.06 64.83
AUG. TO SEPT. '80 147 50.58 59.28
SE PT. TO OCT. '80 123 43.41 50.40
OCT. TO NOV. '80 136 47.30 55.21
NOV. TO DEC. '80 119 42.22 48.92
DEC. TO JAN. '80 131
45.80 53.36
YEARLY TOTALS 1 640iiiig—_ g. .iiiii 655.03
MONTHLY AVERAGE �® ■-■■. a 1. 19
AVERAGE PUM
AVERAGE PRM _,
Average Cost Water per C. Cu. Ft.*
MKS $1,224.97
2.04 PUM
* Delete words not applicable.
34502-P
HUD-Wosh., D.C.
L=duth±
CITY OF WATERLOO, IOWA
INDUSTRIAL REVENUE BOND
SERIES 1981
(CRYSTAL ICE AND COLD STORAGE, INC. PROJECT)
No. R-1 $700,000.00
KNOW ALL MEN BY THESE PRESENTS, that the City of Waterloo, Iowa, hereinafter
called the "Issuer", for value received, promises to pay from the source and
as hereinafter provided, to the order of The Waterloo Savings Bank, Waterloo,
Iowa, or its assigns, the principal sum of Seven Hundred Thousand Dollars
($700,000.00) , and in like manner to pay interest on said sum from the date
hereof at the rate of Ten Percent (10%) per annum in equal monthly installments
until said principal sum is paid, in accordance with the attached amortization
schedule marked Exhibit A, except as the provisions hereinafter set forth with
respect to prepayment prior to maturity may become applicable hereto, both principal
of and premium, if any, and interest on this Bond being payable in lawful money
of the United States of America at the principaloce of The Waterloo Savings
Bank (the "Bank") , in Waterloo, Iowa. Eah such/monthly payment shall be applied
first to the payment of interest and then '1 o the payment of principal .
In addition, this Bond sha17 ea?i i' i
: terest on overdue payments of principal
and interest at the prime comet ial l riding r to of the Bank until paid.ii
p
This Bond is issued undr -and secures and entitled to theprotection
of a Resolution dulyadopted b-th
p e governing body of the Issuer for the purpose
of funding a loan by the Issuer to Crystal Ice and Cold Storage, Inc. (the
"Company"), an Iowa corporation r the purpose of financing the cost of acquisition
by the -ompany of land, certain b 'ldings, equipment and related facilities
(the "Project") in t ��£i�tKof Wate \loo, Iowa, and the payment of necessary
costs i�ncidentl therkto. \\ The terms and conditions of the acquisition and
completion of the Project by the Company, the loan of the proceeds of the Bond
to the Company for such ptfrpose, and the repayment of said loan are contained
in a Loari\Agreement, dated as of June 1 , 1981 , (which Agreement, as from time
to time amended and supplemented, is hereinafter referred to as the "Agreement") .
Thondi-4s transferable by the registered holder hereof in person
erson
or by his attorney duly authorized in writing at the principal office of the
Bank but only in the manner, subject to the limitations and upon payment of
the charges provided in the Resolution.
This Bond is issuable in the denomination of $700,000.00.
This Bond is issued pursuant to and in full compliance with the Constitu-
tion and laws of the State of Iowa, particularly Chapter 419 of the Code of
Iowa, 1981 , as amended (the "Act") , and pursuant to the Resolution. THIS BOND
IS NOT A GENERAL OBLIGATION OF THE ISSUER NOR AN INDEBTEDNESS OF THE ISSUER
WITHIN ANY CONSTITUTIONAL OR STATUTORY LIMITATION, BUT A SPECIAL OBLIGATION
PAYABLE SOLELY FROM REVENUES DERIVED FROM THE MORTGAGED PROPERTY, AS DEFINED
IN THE AGREEMENT, INCLUDING THE DEBT OBLIGATION OF THE COMPANY UNDER THE AGREEMENT,
-2-
WHICH OBLIGATION WILL BE SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST AND
PREMIUM, IF ANY, ON THE BOND AS THE SAME BECOME DUE AND PAYABLE. Such payments
are to be paid to the Bank for the account of the Issuer and deposited in a
special trust fund account created by the Issuer, maintained by the Bank and
designated "City of Waterloo, Iowa, Industrial Revenue Bond (Crystal Ice and
Cold Storage, Inc. Project) Bond Fund", and have been and are hereby duly pledged
for that purpose. In addition, the Bond is secured by a mortgage of the Mortgaged
Property, as defined in the Agreement, under the provisions of a certain Mortgage
and Security Agreement dated as of June 1 , 1981 (the "Mortgage") , from the
Company to the Bank, and the rights of the Issuer under the Agreement have
been assigned to the Bank to secure the payment of such principal , interest
and premium, if any, under the Resolution. Additional payments are required
to be made by the Company under the Agreement sufficient to pay the fees
and expenses of the Bank, in connection with this Bond, taxes and assessments
relating to the Mortgaged Property and reasonable expenses of the Issuer
relating to the Project. THIS BOND AND INTEREST AND PREMIUM, IF ANY, THEREON,
DO NOT CONSTITUTE AN INDEBTEDNESS OF THE ISSUER WITHIN THE MEANING OF ANY
CONSTITUTIONAL OR STATUTORY LIMITATION AND DO NOT CONSTITUTE NOR GIVE RISE
TO A PECUNIARY LIABILITY OF THE ISSUER OR A CHARGE AGAINST ITS GENERAL CREDIT
OR TAXING POWERS.
The outstanding principal of this Bond is subject to prepayment
at any time in the event of (1 ) damage to or destruction of or condemnation
of the Mortgaged Property, or any part thereof to the extent provided in
Section 7.4 of the Agreement and Sections 6 and 7 of the Mortgage; or (2)
the requirement of the Company to prepay installments payable under the Agreement
and to cause the principal of this Bond to be prepaid upon the occurrence
of an event specified in Section 7.2 of the Agreement (relating to impossibility
or certain events or circumstances causing interest on the Bond to become
taxable) . In any of the events specified above, the principal of this Bond
shall be subject to prepayment by the Issuer at any time in whole or (in
the case of prepayment pursuant to (1 ) of this paragraph) , in part, at a prepayment
price of 100% of the principal amount thereof, plus accrued interest to the
prepayment date.
The outstanding principal of this Bond may be prepaid in whole or in
part at any time without penalty or premium.
In the event the principal of this Bond is prepaid as aforesaid,
the principal so prepaid will cease to bear interest on the specified prepayment
date, provided funds for such prepayment are on deposit at the place of payment
at the time. Prepayment of any amounts hereunder shall not reduce or relieve
the obligation of the Company to pay installments under the Agreement until
all of the remaining interest and principal have been paid or provision for
its payment has been made in accordance with this Bond. When the entire
principal of premium, if any, and interest on this Bond have been paid, this
Bond shall be cancelled and be delivered to the Issuer by the Bank.
In the event of default, the rights of the holder of this Bond
shall be governed by the Mortgage and Agreement.
It is hereby certified, recited and declared that all acts , conditions
and things required to exist, happen and be performed precedent to and in
the issuance of this Bond do exist, have happened and have been performed
-3-
in due time, form and manner as required by law; that the issuance of this
Bond and the issue of which it forms a part, together with all other obligations
of the Issuer, does not exceed or violate any constitutional or statutory limitation.
This Bond is issued with the intent that the laws of the State of
Iowa will govern its construction. This Bond shall not be valid or obligatory
for any purpose or entitled to any security or benefit under the Resolution
unless and until the Certificate of Authentication hereon shall have been duly
executed by the Bank, by an authorized officer thereof.
IN WITNESS WHEREOF, the City of Waterloo, Iowa, has caused this Bond
to be executed in its name by the manual signature of the Mayor and its official
seal to be affixed hereon and attested by the manual signature of the City
Clerk, and each page to be initialled by its undersigned officials, all as
of June 1 , 1981 .
CITY OF WATERLOO, IOWA
By c
ATTEST: Mayor
By et /2//
Cit Clerk
(SEAL)
(CERTIFICATE OF AUTHENTICATION)
This Bond is the Bond of the issue described in the within-mentioned
Resolution, and is hereby authenticated pursuant to said Bond.
THE WATERLOO SAVINGSBBANK
Waterloo, Iowa
By
Authorized Officer
This Bond has not been registered under the Iowa Uniform Securities
Act and may be offered, sold or transferred only if registered pursuant to the
provisions of that Act, or if an exemption from registration is available.
FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto
The Waterloo Savings Bank, Waterloo, Iowa, the within Industrial Revenue Bond,
Series 1981 (Crystal Ice and Cold Storage, Inc. Project) , of the City of Waterloo,
Iowa.
DATED:
CITY OF WATERLOO, IOWA
By C2' ,/?`"Cfne
Mayor
-4-
ATTEST:
,,,
_..
ty e k
IN THE PRESEN E OF @,0--)7-erQ ariv..- tY-k.su."-cil- -8-(____-