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City of Clive
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RECD JAN 11 198a <br /> 5 <br /> II <br /> RESOLUTION NO. 83 -1 <br /> PLAN FOR THE CONSTRUCTION OF THE I.C.A. FACILITIES <br /> WHEREAS, the I.C.A. Agreement Section 5; the First Supplement <br /> to the I.C.A. Agreement, Sections 3, 4 and 5; and the Second Sup- <br /> plement to the I.C.A. Agreement Section 3; provide for the City of <br /> Des Moines as the Operating Agency to issue general obligation or <br /> revenue bonds to be retired from system revenues to finance design <br /> and /or construction of the several segments of the several phases <br /> of the I.C.A. Project as contemplated by the Section 201 Facilities <br /> Plan for the I.C.A. Project with options to the subscribing members <br /> thereof to elect to furnish cash contributions by a date certain as <br /> to each such issue in lieu of debt service payments during the life <br /> of such issue, which includes an option in the subscribing members <br /> to raise such cash contributions by issuing their own bonds; and <br /> WHEREAS, the City of Des Moines as such Operating Agency did on <br /> November 22, 1982, following public hearing, resolve to issue not <br /> to exceed $10,450,000.00 in general obligation bonds to finance <br /> 4/0 design and construction of certain segments of certain phases of <br /> said I.C.A. Project all as detailed and specified in the I.C.A. <br /> Initial Financing Plan attached to this Resolution; and <br /> WHEREAS, each subscribing I.C.A. member (including the City of <br /> Des Moines in its capacity as such) must now finally elect as be- <br /> tween the aforesaid options set forth in said I.C.A. Initial Finan- <br /> cing Plan; and <br /> WHEREAS, it appears to the City of Clive, Iowa, as a I.C.A. <br /> Member, that such I.C.A. Initial Financing Plan provides an <br /> accurate allocation of costs between subscribing members of the <br /> I.C.A. as to the several segments of the several phases of the <br /> I.C.A. Project shown therein and should now be approved and in <br /> furtherance of such approval that notice should be given to the <br /> City of Des Moines as the Operating Agency by mail or hand delivery <br /> thereof on or before January 20, 1983, of the City of Clive's <br /> election under such I.C.A. Initial Financing Plan to select option <br /> 1 and thereby share in the retirement of debt service for the City <br /> of Des Moines general obligation bond issue as a means of financing <br /> the first phase of costs for the I.C.A. Project and to pay for such <br /> retirement of debt service from the sewer rental funds received by <br /> III the City of Clive. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CLIVE, IOWA: <br /> That the City of Clive as a subscribing member of the I.C.A. <br /> does hereby acknowledge receipt of the I.C.A. Initial Financing <br /> Plan and in accordance with the request of the City of Des Moines <br /> as Operating Agency under the I.C.A. Agreement, as amended, and the <br /> First Supplement to the I.C.A. Agreement and the Second Supplement <br /> to the I.C.A. Agreement, does hereby approve the I.C.A. Initial <br /> ill Financing Plan and elects to be governed in the implementation of <br /> said Plan by option 1 thereof which provides for annual payments of <br /> debt service in proportion to the amounts reflected in said Plan as <br /> being allocable to the City of Clive; provided, however, that the <br /> City of Clive's approval of the I.C.A. Initial Financing Plan and <br />
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