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, <br /> RESOLUTION NO. 1/A <br /> RESOLUTION APPROVING AGREEMENT BETWEEN CITY OF CLIVE, <br /> IOWA AND COWNIES REGARDING N.W. 114TH STREET (SOUTH) <br /> IMPROVEMENT PROJECT AND AUTHORIZING MAYOR AND CITY CLERIC <br /> TO EXECUTE THE SAME <br /> WHEREAS, the City Manager has submitted to the City Council a <br /> memorandum setting forth the general terms and conditions of a pro- <br /> posed Agreement between the City of Clive, Iowa and the Cownies with <br /> respect to preliminary matters to be agreed to by the parties in <br /> connection with the construction of relocated N.W. 114th Street <br /> (South); and <br /> WHEREAS, said memorandum of the City Manager provides for the <br /> • terms and conditions of an Agreement which the City Council is <br /> desirous of executing, with the exception that said Agreement pro- <br /> vide that two percent (2 %) of the interest collected by the City on <br /> the special assessments levied against the Cownies will be rebated <br /> to the Cownies if all of the special assessments levied against all <br /> of the property owners' property (as shown on the original Schedule <br /> of Assessments as certified to the County Auditor) have been paid, <br /> provided such rebate is determined by Bond Counsel to be legally <br /> permissible under the laws of the State of Iowa; and <br /> WHEREAS, in furtherance of the N.W. 114th Street (South) Pro- <br /> ject, the City desires to enter into an Agreement on the terms and <br /> conditions set forth in the Memorandum of the City Manager dated <br /> July 2, 1986, with the modifications thereto as set forth above. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CLIVE, IOWA: <br /> 1. That the City Attorney is hereby authorized and directed <br /> to prepare an Agreement setting forth the terms and condi- <br /> tions of the Memorandum of the City Manager dated July 2, <br /> 1986, with the additional provision that two percent (2 %) <br /> of the interest collected by the City on the special <br /> assessments levied against the Cownies will be rebated to <br /> the Cownies if all of the special assessments levied <br /> against all of the property owners' property (as shown on <br /> the original Schedule of Assessments as certified to the <br /> County Auditor) have been paid, provided such suggested is approved by Bond Counsel as being legal under the laws of the State of Iowa. <br /> 2 . That upon the final drafting of said Agreement between the <br /> City of Clive, Iowa and the Cownies, the Mayor is hereby <br /> authorized and directed to execute the same on behalf of <br /> the City and the City Clerk is authorized and directed to <br /> attest to his signature and to affix the seal of the City <br /> to the same. <br /> 3. That upon the execution of said Agreement by the Mayor and <br /> City Clerk, the City Manager is hereby authorized and <br /> directed to present the same to the Cownies and to obtain <br /> their signature on said Agreement and return the same to <br /> this City Council as expeditiously as possible. <br /> PASSED AND APPROVED this 10th day of July, 1986. <br /> 1P I <br /> lit 1 .04t4 ' t: 0 1 <br /> ■ <br /> ATTEST: 0. -ne rlad•ox Ma <br /> a L. L <br /> arjori S. Roberts, City tlerk <br /> 1 <br />