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HomeMy WebLinkAbout2007-092 - Grant of Easements and Right-of-Ways by IDA Where are all of these easements that the Qrclinance refers to Exhibits attached? Louise Rusick, City Clerk City o~ Riverside Z95o NW Urvion Road Riverside, Mo 641 50 Phone # 8 i 6-741-3993 Pax # 8 16-746-8 349 T M ~f` _ ~ BILL N0.2007-92 ORDINANCE NO 2007-92 AN ORDINANCE AUTHORIZING AND DIRECTING THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI TO GRANT TO THE CITY OF RIVERSIDE, MISSOURI CERTAIN RIGHTS-OF- WAYS AND EASEMENTS ON THE MORTGAGED PROPERTY; AND AUTHORIZING OTHER DOCUMENTS AND ACTIONS RELATED THERETO. WHEREAS, The Industrial Development Authority of the City of Riverside, Missouri (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, 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 City, pursuant to the Financing Agreement, transferred the Mortgaged Property (as defined in the Financing Agreement) to the IDA which Mortgaged Property secures the payment of the Bonds. WHEREAS, the Financing Agreement requires that the IDA, upon request of the City, grant to the City or other utility, without chazge or cost, such easements and rights- of-way with respect to the Mortgaged Property as are necessary or desirable for road and street improvements, sidewalks, drainage improvements, sanitary improvements, and other utility improvements ("Infrastructure Easements and Rights-of-Way"). WHEREAS, it has been determined that certain Infrastructure Easements and Rights-of--Way are needed. WHEREAS, the City desires to direct to the IDA to grant to the City the Infrastructure Easements and Rights-of--Way described in this Ordinance. NOW, THEREFORE, be it ordained by the Boazd of Aldermen of the City of Riverside, Missouri, as follows: Section 1. The City hereby directs the IDA to grant to the City the Infrastructure Easements and Rights-of--Way on the portions of the Mortgaged Property described in the attached Exhibits: 1) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit A attached hereto on the portion of the Mortgaged Property described therein. T 1 2) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit B attached hereto on the portion of the Mortgaged Property described therein. 3) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit C attached hereto on the portion of the Mortgaged Property described therein. 4) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit D attached hereto on the portion of the Mortgaged Property described therein. 5) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit E attached hereto on the portion of the Mortgaged Property described therein. 6) A Utility Easement for a Permanent Sanitary Sewer granted in favor of the City as described on Exhibit F attached hereto on the portion of the Mortgaged Property described therein. 7) A Permanent Utility Easement in favor of the City as described on Exhibit G attached hereto on the portion of the Mortgaged Property described therein. 8) A Permanent Right of Way granted in favor of the City as described on Exhibit H attached hereto on the portion of the Mortgaged Property described therein. 9) A Storm Drainage Easement granted in favor of the City as described on Exhibit I attached hereto on the portion of the Mortgaged Property described therein. 10) A Temporary Construction Easement granted in favor of the City as described on Exhibit J attached hereto on the portion of the Mortgaged Property described therein. Section 2. The City shall, and the officers, agents, and employees of the City are hereby authorized and directed to, take such further action and execute and deliver such documents and instruments as may be necessary or desirable to carry out and comply with the intent of this Ordinance. Section 3. The Ordinance shall be in full force and effect from and after its passage and approval. Passed this ~`~"ay of August, 2007 A'~TES . uise Rusick City Clerk Mayor Kathleen L. Rose T'