HomeMy WebLinkAbout2009-001 IDA Resolution Purchase Property RESOLUTION NO. 2009-001
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
adopts this Resolution and directs 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$40,265,000 (the "Bonds").
WHEREAS, the City of Riverside, Missouri ("City"), the IDA, and UMB Bank, N.A.,
entered into that certain Financing and Cooperation Agreement dated as of May 1, 2007 relating
to the Bonds (the"Financing Agreement").
WHEREAS, the Financing Agreement requires that the IDA, upon direction of the City,
transfer and sell the Mortgaged Property (as defined in the Financing Agreement), in whole or in
part, in one or more transactions.
— WHEREAS, the City has, pursuant to Ordinance 2009-__, a copy of which is presented
with this Resolution and is on file with the Secretary, directed the IDA to sell a certain portion of
the Mortgaged Property, the legal description of such portion being attached as Exhibit A (the
"Property"), to the City.
NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of The Industrial
Development Authority of the City of Riverside, Missouri as follows:
Section 1. The IDA's sale of the Property to the City at the price of$.50 per square
foot is hereby approved. There are 2,500 square feet within the Property making the sales price
of the Property $1,250 (the "Sales Price").
Section 2. The Special Warranty Deed 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.
Section 3. 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 Decd of Trust.
Section 4. 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 DAY OF FEBRUARY, 2009.
This Resolution was adopted at the meeting of the Board of Directors of the IDA duly
called and held this date.
Preside
(SEAL)
ATTEST:
Sec etar
2
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
All that part of the Southeast Quarter of Section 5, Township 50 North, Range 33 West, in
the City of Riverside, Platte County, Missouri, more particularly described as follows:
commencing at the southwest corner of said Section 5, thence South 88 degrees 51 minutes
51 seconds East, with the south line of the Southwest Quarter of said Section 5, a distance
of 2620.58 feet to the southwest corner of the Southeast Quarter of said Section 5; thence
South 88 degrees 47 minutes 46 seconds East, with the south line of the Southeast Quarter
of said Section 5, a distance of 1443.91 feet to a point on the west right-of-way line of
Interstate 635; thence North 13 degrees 47 minutes 36 seconds East, with the west right-of-
way line of Interstate 635, a distance of 152.20 feet to the point of beginning; thence North
76 degrees 12 minutes 24 seconds West, perpendicular to, and no longer with the west
right-of-way line of Interstate 635, a distance of 50.00 feet; thence North 13 degrees 47
minutes 36 seconds East, parallel with the west right-of-way of Interstate 635, a distance of
50.00 feet; thence South 76 degrees 12 minutes 24 seconds East, a distance of 50.00 feet to
a point on the west right-of-way line of Interstate 635; thence South 13 degrees 47 minutes
36 seconds West, with the west right-of-way of Interstate 635, a distance of 50.00 feet to
the point of beginning. The above described tract contains 2,500 square feet, or 0.06 acres.
3
EXHIBIT B
FORM OF SPECIAL WARRANTY DEED
THIS INDENTURE is made as of February , 2009 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 grantor ("Grantor"), with a 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 on Exhibit A
attached hereto.
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
and on Exhibit A) 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 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
[SEAL] By:
Wayne Snyder, President
ATTEST:
By: _
Jane Henry, Secretary
ACKNOWLEDGMENT
STATE OF MISSOURI )
)SS
COUNTY OF PLATTE )
ON THIS day of February, 2009, before me, the undersigned, a Notary Public in and for
said County and State, personally appeared Wayne Snyder to me personally known, who being
by me duly sworn, did say that he 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
authority of its Board of Directors, and said individual acknowledged said instrument to be the
free act and deed of said Authority.
WTINESS my hand and official seal in the County and State aforesaid, the day and year first above
written.
Notary Public Signature
(Seal)
Printed or Typed Name
My Commission Expires:
EXHIBIT ATO SPECIAL WARRANTY DEED
LEGAL DESCRIPTION OF PREMISES
All that part of the Southeast Quarter of Section 5, Township 50 North, Range 33 West, in
the City of Riverside, Platte County, Missouri, more particularly described as follows:
commencing at the southwest corner of said Section 5, thence South 88 degrees 51 minutes
51 seconds East, with the south line of the Southwest Quarter of said Section 5, a distance
of 2620.58 feet to the southwest corner of the Southeast Quarter of said Section 5; thence
South 88 degrees 47 minutes 46 seconds East, with the south line of the Southeast Quarter
of said Section 5, a distance of 1443.91 feet to a point on the west right-of-way line of
Interstate 635; thence North 13 degrees 47 minutes 36 seconds East, with the west right-of-
way line of Interstate 635, a distance of 152.20 feet to the point of beginning; thence North
76 degrees 12 minutes 24 seconds West, perpendicular to, and no longer with the west
right-of-way line of Interstate 635, a distance of 50.00 feet; thence North 13 degrees 47
minutes 36 seconds East, parallel with the west right-of-way of Interstate 635, a distance of
50.00 feet; thence South 76 degrees 12 minutes 24 seconds East, a distance of 50.00 feet to
a point on the west right-of-way line of Interstate 635; thence South 13 degrees 47 minutes
36 seconds West, with the west right-of-way of Interstate 635, a distance of 50.00 feet to
the point of beginning. The above described tract contains 2,500 square feet, or 0.06 acres.
All of the above being subject to all easements, reservations and encumbrances of record.
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SPECIAL. WARRANTY DEED
by
771E INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI,
MAILING ADDRESS: 2950 NW Vivion Road, Riverside,Missouri 64150
GRANTOR
to
THE CITY OF RIVERSIDE, MISSOURI, W
MAILING ADDRESS: 2950 NW Vivion Road, Riverside, Missouri 64150 cn
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GRANTEE
C�
Relating to Premises in:
• G
Platte County, Missouri
LEGAL DESCRIPTION: See Exhibit A
DATED: February, 2009 N
Return Recorded Document to:
Deborah A. Polk
Armstrong"feasdale 1-1,P
2345 Grand, Suite 2000
Kansas City, Missouri 64108
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SPECIAL WARRANTY DFED
THIS INDENTURE is made as of February 2g, 2009 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 grantor ("Grantor"), with a 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 on Exhibit A
attached hereto.
TO HAVE AND TO 11OLD 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 and on Exhibit A) done or suffered by it; and that it will warrant and defend the
title to said premises onto 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.
T'IiF INDUSTRIAL DEVELOPMENT
AU'I'H0121TY OF THE CITY OF
RIVE IDE, Nll 'OU!41
[SEAL] By: )\�
Wa, Snyder, Presi nt
ATTEST:
By:
J e Henry, ecretar
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ACKNOWLEDGMENT
STATE OF MISSOURI )
)SS
COUNTY OF PLATTE )
r
ON THIS;(r day of February, 2009, before me, the undersigned?a Notary Public in and for
said County and State; personally appeared Wayne Snyder to me personally known, who being
by me duly sworn, did say that he 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 seat of said
Authority, and that said instrument was signed and scaled in behalf' of said Authority by
authority of its Board of Directors, and said individual acknowledged said instrument to be the
free act and deed of said Authority.
WITNESS my hand and official seal in the County and Slate aforesaid, the day and year first above
written.
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(Seat)
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Printed or Typed Name
My Commission Expires:
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002722
LEGAL DESCRIPTION OF PREMISES
All that part of the Southeast Quarter of Section 5, 'rownship 50 North, Range 33 West, in the
City of Riverside, Platte County, Missouri, more particularly described as follows: commencing
at the southwest corner of said Section 5, thence South 88 degrees 51 minutes 51 seconds Gast,
with the south line of the Southwest Quarter of said Section 5, a distance of 2620.58 feet to the
southwest corner of the Southeast Quarter of said Section 5; thence South 88 degrees 47 minutes
46 seconds Gast, with the south line of the Southeast Quarter bfsaid Section 5, a distance of
1443.91 feet to a point on the west right-of-way line of Interstate 635, thence North 13 degrees
47 minutes 36 seconds East, with the west right-of way line of Interstate 635, a distance of
152.20 feet to the point of beginning; thence North 76 degrees 12 minutes 24 seconds West,
perpendicular to, and no longer with the west right-of way line of Interstate 635, a distance of
50.00 feet; thence North 13 degrees 47 minutes 36 seconds East, parallel with the west right-of-
way of Interstate 635, a distance of 50.00 feet; thence South 76 degrees 12 minutes 24 seconds
Gast, a distance of 50.00 feet to a point on the west right-of-way line of Interstate 635; thence
South 13 degrees 47 minutes 36 seconds West, with the west right-of-way of Interstate 635, a
distance of 50.00 feet to the point of beginning. The above described tract contains 2,500 square
feet, or 0.06 acres.
All of the above being subject to all casements, reservations and.encumbrances of record.
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