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RESOLUTION NO. r ,ice <br /> RESOLUTION APPROVING I.C.A. INITIAL FINANCING <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 <br /> on October 22, 1984, following public hearing, resolve to issue not <br /> to exceed $11,400,000 in general obligation bonds to finance design <br /> and construction of certain segments of certain phases of said I.C.A. <br /> Project all as detailed and specified in the I.C.A. Initial Financing <br /> 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. Second Financing Plan provides an accurate <br /> allocation of costs between subscribing members of the I.C.A. as to <br /> the several segments of the several phases of the I.C.A. Project <br /> shown therein and should now be approved and in furtherance of such <br /> approval that notice should be given to the City of Des Moines as <br /> the Operating Agency by mail or hand delivery thereof on or before <br /> November 26, 1984, of the City of Clive's election under such I.C.A. <br /> Initial Financing Plan to select option 1 and thereby share in the <br /> retirement of debt service for the City of Des Moines general obli- <br /> gation bond issue as a means of financing the second phase of costs <br /> for the I.C.A. Project and to pay for such retirement of debt service <br /> from the sewer rental funds received by 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. Second Financing Plan <br /> and in accordance with the request of the City of Des Moines as <br /> 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 /> 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. Second Financing Plan and <br />