HomeMy WebLinkAbout2012-001 IDA Resolution Transfer Property to the City IDA Resolution 2012-001
IDA
RESOLUTION NO. 2012-001
A RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF CERTAIN
PROPERTY TO THE CITY OF RIVERSIDE, MISSOURI; DIRECTING UMB
BANK, AS TRUSTEE, TO RELEASE SUCH PROPERTY FROM THE DEED OF
TRUST; AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH.
Pursuant to the provisions of Chapter 349, RSMo., as amended, the Board of Directors
of The Industrial Development Authority of the City of Riverside, Missouri (the "IDA"), hereby
adopt this Resolution and direct that this Resolution be filed with the official IDA minutes:
WHEREAS, the IDA issued its Industrial Development Revenue Bonds (Riverside
Horizons Infrastructure Project- City of Riverside, Missouri), Series 2007 in the principal amount
of$40,265,000 (the "Bonds"); and.
WHEREAS, the City of Riverside, Missouri ("City"), the IDA, and LIMB Bank, N.A.,
entered into that certain Financing and Cooperation Agreement dated as of May 1, 2007 relating
to the Bonds (the "Financing Agreement"); and
WHEREAS, the Financing Agreement requires that IDA, upon direction of the City,
transfer and sell the Mortgaged Property (as defined in the Financing Agreement), in whole or in
part, in one or more transactions; and
WHEREAS, the IDA has an interest in the Mortgaged Property legally described in
Exhibit A attached hereto; not
WHEREAS, the City has, pursuant to Resolution R-2012-009, a copy of which is
presented with this Resolution and is on file with the Secretary, directed the IDA to convey its
interest in that certain portion of the Mortgaged Property, the legal description of such portion
being attached as Exhibit A (the "Property"), to the City upon compliance with the terms and
conditions of the Financing Agreement;
NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of the Industrial
Development Authority of the City of Riverside, Missouri as follows:
Section 1. The IDA's conveyance of all right, title and interest in the Property to the City
at the price of$.50 per square foot is hereby approved. There are 392,056 +/- square feet
within the Property making the purchase price of the Property $196,028.00 (the "Sales Price").
Section 2. The Special Warranty Deed conveying all right, title and interest of the IDA in
the Property is hereby approved in substantially the form attached as Exhibit B and the
President and Vice President are hereby authorized to enter into, execute and deliver and the
Secretary and the Assistant Secretary are hereby authorized to attest, such document with such
changes therein as shall be approved by the official of the IDA executing such document, such
official's signature thereon being conclusive evidence of his approval and the IDA's approval
thereof.
IDA Resolution 2012-001
Section 3. The Quit Claim Deed relinquishing any right, title and interest of the IDA in
the Property, once such Property is incorporated into the final plat of the Briarcliff Horizons Site
is hereby approved in substantially the form as Exhibit C and the President and Vice President
are hereby authorized to enter into, execute and deliver and the Secretary and the Assistant
Secretary are hereby authorized to attest, such document with such changes therein as shall be
approved by the official of the IDA executing such document, such official's signature thereon
being conclusive evidence of his approval and the IDA's approval thereof.
Section 4. The IDA hereby requests and directs that UMB Bank, as Trustee, upon
receipt of the sales price cause the release of the Property from the lien of the Deed of Trust.
Section 5. The President, Vice-President, Secretary, Assistant Secretary and other
appropriate officers and agents of the IDA are hereby authorized to take such further actions
and execute such other documents as may be necessary or desirable to carry out and comply
with the intent of this Resolution.
Section 5. The Resolution shall be in full force and effect from and after its adoption.
ADOPTED THIS_ZDAY OF 2012.
This Resolution was adopted at the meeting of the Board of Directors of the IDA duly
called and held this date.
r�
Pamela J. Dara , President
(S",4
ATTEST-
Secretary
IDA Resolution 2012-001
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
All that part of the Southwest Quarter of Section 5, Township 50 North, Range 33 West,
in the City of Riverside, Platte County, Missouri, described as follows:
COMMENCING at the Northwest corner of the Southwest Quarter of Section 5,
Township 50 North, Range 33 West; thence South 0 degrees 28 minutes 55 seconds
West along the West line of the Southwest Quarter of said Section 5 a distance of
1305.07 feet to a point; thence South 89 degrees 31 minutes 05 seconds East a
distance of 1463.81 feet to the POINT OF BEGINNING; thence South 68 degrees 05
minutes 05 seconds East a distance of 501.55 feet to a point; thence South 21 degrees
54 minutes 55 seconds West a distance of 871.79 feet to a point; thence North 68
degrees 05 minutes 05 seconds West a distance of 404.00 feet to a point; thence North
21 degrees 54 minutes 55 seconds East a distance of 244.14 feet to a point; thence in a
Northeasterly direction along a curve to the left, having a radius of 522.00 feet, through
a central angle of 21 degrees 30 minutes 29 seconds, an arc distance of 195.95 feet to
a point; thence North 0 degrees 24 minutes 26 seconds East a distance of 105.19 feet
to a point; thence in a Northeasterly direction along a curve to the right, having a radius
of 325.00 feet, through a central angle of 21 degrees 30 minutes 30 seconds, an arc
distance of 122.00 feet to a point; thence North 21 degrees 54 minutes 56 seconds East
a distance of 219.24 feet to the POINT OF BEGINNING, CONTAINING 392,056
SQUARE FEET, MORE OR LESS. SUBJECT TO ALL EASEMENTS AND
RESTRICTIONS OF RECORD.
IDA Resolution 2012-001
EXHIBIT B
FORM OF CONVEYANCE
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of 12012 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantee ("Grantee'), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto Grantee, its successors and assigns, the lots, tracts or parcels of land, lying,
being and situate in the County of Platte and State of Missouri as described as follows:
All that part of the Southwest Quarter of Section 5,Township 50 North, Range 33 West, in the
City of Riverside, Platte County, Missouri, described as follows:
COMMENCING at the Northwest corner of the Southwest Quarter of Section 5,Township 50
North, Range 33 West;thence South 0 degrees 28 minutes 55 seconds West along the West line
of the Southwest Quarter of said Section 5 a distance of 1305.07 feet to a point;thence South
89 degrees 31 minutes 05 seconds East a distance of 1463.81 feet to the POINT OF BEGINNING;
thence South 68 degrees 05 minutes 05 seconds East a distance of 501.55 feet to a point;thence
South 21 degrees 54 minutes 55 seconds West a distance of 871.79 feet to a point;thence North
68 degrees 05 minutes 05 seconds West a distance of 404.00 feet to a point; thence North 21
degrees 54 minutes 55 seconds East a distance of 244.14 feet to a point; thence in a
Northeasterly direction along a curve to the left, having a radius of 522.00 feet,through a
central angle of 21 degrees 30 minutes 29 seconds, an arc distance of 195.95 feet to a point;
thence North 0 degrees 24 minutes 26 seconds East a distance of 105.19 feet to a point;thence
in a Northeasterly direction along a curve to the right, having a radius of 325.00 feet,through a
central angle of 21 degrees 30 minutes 30 seconds, an arc distance of 122.00 feet to a point;
thence North 21 degrees 54 minutes 56 seconds East a distance of 219.24 feet to the POINT OF
BEGINNING,CONTAINING 392,056 SQUARE FEET, MORE OR LESS. SUBJECT TO ALL EASEMENTS
AND RESTRICTIONS OF RECORD.
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
IDA Resolution 2012-001
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By: xxxxxxxxxxxxxxxxxx
Pamela J. Darata, President
ATTEST:
By: xxxxxxxxx
Sarah Wagner, Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
ON THIS_day of 2012, before me, the undersigned, a
Notary Public in and for said County and state, personally appeared Pamela J. Darata, to me
personally known, who being by me duly sworn, did say that she is the President of The
Industrial Development Authority of the City of Riverside, Missouri, a public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
xxxxxxxx
Notary Public Signature
(Seal)
xxxxxxxx
Printed or Typed Name
My Commission Expires:
IDA Resolution 2012-001
EXHIBIT C
FORM OF CONVEYANCE
QUIT CLAIM DEED
THIS INDENTURE, effective as of the_day of 2012, by and
between THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE,
MISSOURI, a public corporation organized and existing under the laws of the State of Missouri,
Grantor, party of the first part, and THE CITY OF RIVERSIDE, MISSOURI, a fourth class city
organized and existing under the laws of the State of Missouri, Grantee, party of the second part
(mailing address of Grantee: 2950 NW Vivion Road, Riverside, Missouri 64150).
WITNESSETH, that the party of the first part, in consideration of the sum of TEN AND
NO/100 DOLLARS ($10.00), and other good and valuable consideration to it paid by the party of
the second part, the receipt and sufficiency of which is hereby acknowledged, does by these
presents REMISE, RELEASE, and FOREVER QUIT CLAIM unto the party of the second part,
the following described lots, tracts, or parcels of land lying, being, and situated in the County of
Platte, and State of Missouri to-wit:
All of Lot_ a subdivision in the City of
Riverside, Platte County, Missouri, subject to all easements and restrictions of record
together with the any improvements constructed or located thereon.
TO HAVE AND TO HOLD THE SAME, with all the rights, immunities, privileges, and
appurtenances thereto belonging, unto the party of the second part and unto its heirs and
assigns forever; so that neither the party of the first part nor its heirs or assigns, nor any other
person or persons, for whom or in whose name or behalf, will hereinafter claim or demand any
right or title to the described premises or any part thereof, but they and each of them shall, by
these presents, be excluded and forever barred.
IN WITNESS WHEREOF, The party of the first part has caused these presents to be signed
as of the day and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
xxxxxxxxxxxxxxxx
By:
Pamela J. Darata, President
ATTEST:
xxxxxxxxxxxxxxxxxxx
By:
Sarah Wagner, Asst. Secretary
IDA Resolution 2012-001
ACKNOWLEDGEMENT
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
ON THIS_day of 2012, before me, the undersigned, a Notary
Public in and for said County and state, personally appeared Pamela J. Darata to me
personally known, who being by me duly sworn, did say that she is the President of The
Industrial Development Authority of the City of Riverside, Missouri, a public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
Notary Public Signature
My Commission Expires:
Vol
Recorded in Platte County, Missouri
Recording Date/Time: 01/24/2012 at 09:14:39 AM
Iri Number: 2012001033 "1...--
Book: 1184 Page: 857 G""1
.... O.
Type: TR WO
Pages: 3 ZN
Fee: S30.00 S
IIIIIIIIIIIIIIilllllllllllllllllllllllllllllllllllll `9�`.;'�oN,~.,�;��y°� \
Grantor: INDUSTRIAL DEVELOPMENT AUTHORITY OF.. Gloria is Boo 1 v
Grantee: RIVERSIDE MO CITY OF yer,
Recorder of Deeds
Ritum Recorded Document to:
City of Riverside
Attn: Sarah Wagner
2950 NW Vivion Rd
Riverside,MO 64150
Grantor:
The Industrial Development Authority of the City of
Riverside,Missouri
2950 NW Vivion Road,Riverside,MO 64150
Grantee: '
The City of Riverside,Missouri
2950 NW Vivion Road,Riverside,MO 64150
00
SPECIAL WARRANTY DEED
C:)
THIS INDENTURE is made as of 2012 by The INDUSTRIAL CU
DEVELOPMENT AUTHORITY OF THE OTY OF RIVERSIDE, MISSOURI, a public corporation W1
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantee ("Grantee"), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto Grantee, its successors and assigns, the lots, tracts or parcels of land, lying,
being and situate in the County of Platte and State of Missouri as described as follows:
All that part of the Southwest Quarter of Section 5, Township 50 North, Range 33 West,
in the City of Riverside, Platte County, Missouri, described as follows:
COMMENCING at the Northwest corner of the Southwest Quarter of Section 5,
Township 50 North, Range 33 West; thence South 0 degrees 28 minutes 55 seconds
West along the West line of the Southwest Quarter of said Section 5 a distance of
1305.07 feet to a point; thence South 89 degrees 31 minutes 05 seconds East a
�'t) lbLk
distance of 1463.81 feet to the POINT OF BEGINNING; thence South 68 degrees 05
minutes 05 seconds East a distance of 501.55 feet to a point; thence South 21 degrees
54 minutes 55 seconds West a distance of 871.79 feet to a point; thence North 68
degrees 05 minutes 05 seconds West a distance of 404.00 feet to a point; thence North
21 degrees 54 minutes 55 seconds East a distance of 244.14 feet to a point; thence in a
Northeasterly direction along a curve to the left, having a radius of 522.00 feet, through a
central angle of 21 degrees 30 minutes 29 seconds, an arc distance of 195.95 feet to a
point; thence North 0 degrees 24 minutes 26 seconds East a distance of 105.19 feet to a
point; thence in a Northeasterly direction along a curve to the right, having a radius of
325.00 feet, through a central angle of 21 degrees 30 minutes 30 seconds, an arc
distance of 122.00 feet to a point; thence North 21 degrees 54 minutes 56 seconds East
a distance of 219.24 feet to the POINT OF BEGINNING, CONTAINING 392,056
SQUARE FEET, MORE OR LESS. SUBJECT TO ALL EASEMENTS AND
RESTRICTIONS OF RECORD.
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said ^*
premises unto Grantee and unto its successors and assigns forever, against the lawful claims co
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written. co
4J7
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF T TY OF RIVERSIDE, MISSOURI
By: GNU
Pamela J. arata, President
ATTEST: / )
By: -S
Com/
Sarah Wagner, Secriftary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
ON THIS day of 2012, before me, the undersigned, a
Notary Public in and for said Couhty and stat , personally appeared Pamela J. Darata, to me
personally known, who being by me duly sworn, did say that she is the President of The
Industrial Development Authority of the City of Riverside, Missouri, a public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hapotamdrp�cial seal in the County and State aforesaid, the day and year
first above written. ��``0 H wAGIY
�.` pP,.....p...
y�o;S<Y �6jc i
`Commission 112771 tH
Platte County ..
Notary Public Signat e
Seal % sl.yota ge. J .y
C�mlaaIon�ExD``°a11� r Printed or Typed Nam6-7
My Commission Expires: c3 oZG�
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Recorded in Platte County, Missouri
Recording Date/Time: 02/15/2012 at 09:07:01 AM
Instr Number: 2012002129 """"'"
Book: 1185 Page: 949 QUER DF o,
Type: TR OCD
Pages: 2 g
Fee: S27.00S .•• .••.•;y5o ;
IIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII III .��UNTV;
Grantor: INDUSTRIAL DEVELOPMENT AUTHORITY OF... Gloria Boye
/etum
Grantee: RIVERSIDE CITY OF Recorder of Deeds
Recorded Document to:
City of Riverside
Attn: Sarah Wagner
2950 NW Vivion Rd
Riverside,MO 64150
Grantor:
The Industrial Development Authority of the City of
Riverside,Missouri
2950 NW Vivion Road,Riverside,MO 64150
Grantee:
The City of Riverside,Missouri
2950 NW Vivion Road,Riverside,MO 64150
QUITCLAIM DEED R
THIS INDENTURE, effective as of the�3��day of a CU f 2012, by and
between THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE(CITY OF RIVERSIDE, q
MISSOURI, a public corporation organized and existing under the laws of the State of Missouri, cn
Grantor, party of the first part, and THE CITY OF RIVERSIDE, MISSOURI, a fourth class city -10
organized and existing under the laws of the State of Missouri, Grantee, party of the second part o
(mailing address of Grantee: 2950 NW Vivion Road, Riverside, Missouri 64150).
WITNESSETH, that the party of the first part, in consideration of the sum of TEN AND
NO/100 DOLLARS ($10.00), and other good and valuable consideration to it paid by the party of
the second part, the receipt and sufficiency of which is hereby acknowledged, does by these
presents REMISE, RELEASE, and FOREVER QUIT CLAIM unto the party of the second part,
the following described lots, tracts, or parcels of land lying, being, and situated in the County of
Platte, and State of Missouri to-wit:
All of Lot 4, Riverside Horizons East First Plat, a subdivision in the City of Riverside,
Platte County, Missouri, subject to all easements and restrictions of record
together with the any improvements constructed or located thereon.
TO HAVE AND TO HOLD THE SAME, with all the rights, immunities, privileges, and
appurtenances thereto belonging, unto the party of the second part and unto its heirs and
assigns forever; so that neither the party of the first part nor its heirs or assigns, nor any other
person or persons, for whom or in whose name or behalf, will hereinafter claim or demand any
right or title to the described premises or any part thereof, but they and each of them shall, by
these presents, be excluded and forever barred.
IN WITNESS WHEREOF, The party of the first part has caused these presents to be signed
as of the day and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF ITY OF RIV RSIDE, MISSOURI
w`
ey. Pamela J. D at , President
ATTEST:
/ m
By.
Sarah Wagner, 76-1st. Secretary
CJ7
-n
0
ACKNOWLEDGEMENT
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
rM
ON THIS qday of .: 2012, before me, the undersigned, a Notary
Public in and for said County and state, pertknally appeared Pamela J. Darata to me
personally known, who being by me duly swom, did say that she is the President of The
Industrial Development Authority of the City of Riverside, Missouri, a public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
Notary Public Signature
My Commission Expires: Y �� g DSS
R081N L.LITTRELL
Notary Public-Notary Seal
State of Missouri,Ray County
Commission # 1139063/
My Commission Expires Mar 6,2015