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HomeMy WebLinkAbout2017-11-29 IDA PacketTHE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI Board of Directors Notice of Meeting AMENDED Notice is hereby given that the Board of Directors of the Industrial Development Authority of the City of Riverside, Missouri will conduct a meeting at 5:30 p.m. on Wednesday, November 29, 2017, at the City Hall of Riverside, 2950 NW Vivion Road, Riverside, Missouri 64150. The tentative agenda of this meeting includes: 1. OPENING 2. ROLL CALL 3. APPROVAL OF MINUTES OF MEETINGS: October 24, 2017 4. NEW BUSINESS A. RESOLUTION 2017-005: A Resolution Authorizing the Transfer of Real Property to the City of Riverside, Missouri. B. RESOULTION 2017-006: A Resolution Authorizing a Change of Registered Agent and Registered Office. 5. ADJOURNMENT Sarah Wagner November 28, 2017 8:00 a.m. MINUTES REGULAR MEETING THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI Wednesday, October 4, 2017 5:30 p.m. The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall, 2950 NW Vivion Road, Riverside, Missouri. Vice President Frank Biondo called the meeting to order at 5:30 p.m. Answering roll call were Frank Biondo, Harold Snoderley, Art Homer and Jason Rule. Also present: Donna Oliver, Director of Finance: Rick McConnell and Megan Miller, Gilmore & Bell; and Sarah Wagner and Rhonda Smith, Community Development. Approval of Minutes Art Homer moved to approve the minutes from September 20, from December 12, 2016 2017. RESOLUTION 2017- 004: A Resolution Authorizing the Issuance of Industrial Development Refunding Revenue Bonds (Riverside Horizons Infrastructure Project — City of Riverside, Missouri) Series 2017, in Principal Amount Not Exceeding $19,500,000 and Authorizing and Approving Certain Documents and Actions in Connection with the Issue of Said Bonds Adjournment Harold Snoderley seconded and the motion passed 4-0. Rick McConnell from Gilmore & Bell noted that Resolution 2017-004 would authorize the City to reissue bonds from 2007 in a favorable market saving the City money from interest. The reissue would be complete by the first of November if the market remains favorable. Art Homer noted the saving would be set aside for downtown development. Jason Rule noted concerns about the bond reissue and asked for clarification on the numbers. Rick McConnell provided him with a tentative schedule. Donna Oliver noted that the least amount of savings for the City would be 3 percent. If the percentage was lower, the reissue would not happen. Frank Biondo made a motion to approve Resolution 2017- 0004. Harold Snoderly seconded and the motion passed 3-1 with Jason Rule dissenting. Frank Biondo moved to adjourn the meeting at 6:50 p.m., seconded by Harold Snoderley. Motion passed 4-0. IDA Resolution 2017-005 IDA RESOLUTION NO. 2017-005 A RESOLUTION AUTHORIZING THE TRANSFER OF REAL PROPERTY TO THE CITY OF RIVERSIDE, MISSOURI. 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"); 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 payment in full of the Bonds, transfer all of its right, title, and interest in the remaining Mortgaged Property (as defined in the Financing Agreement) to the City, by special warranty deed; and WHEREAS, the Bonds have been paid in full. 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 Special Warranty Deed conveying all right, title and interest of the IDA in the remaining Mortgaged Property to the City is hereby approved in the form attached hereto as Exhibit "A" (the "Deed"), and the President and Vice President are hereby authorized to execute and deliver and the Secretary and the Assistant Secretary are hereby authorized to attest to, the Deed, such official's signature thereon being conclusive evidence of his or her approval and the IDA's approval thereof. Section 2. The Deed shall be recorded in the land records of Platte County, Missouri. Section 3. 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 4. Any and all actions previously taken in furtherance of the foregoing resolutions by the President, Vice -President, Secretary, Assistant Secretary or other officers or agents of the IDA are hereby ratified, approved, and confirmed in all respects with the same validity and effect as if such acts had been previously authorized and directed. IDA Resolution 2017-005 Section 5. The Resolution shall be in full force and effect from and after its adoption. ADOPTED THIS 29TH DAY OF NOVEMBER, 2017. This Resolution was adopted at the meeting of the Board of Directors of the IDA duly called and held this date. By: Name: Title: (SEAL) ATTEST: By: Sarah Wagner, Secretary EXHIBIT A SPECIAL WARRANTY DEED See attached. IDA Resolution 2017-005 (Space above reserved for Recorder of Deeds certification) COVER PAGE FOR RECORDING 1. Title of Document: 2. Date of Document: 3. Grantor Name and Address: 4. Grantee Name and Address: 5. Legal Description: Special Warranty Deed November 29, 2017 The Industrial Development Authority of the City of Riverside, Missouri 2950 NW Vivion Road Riverside, Missouri 64150 City of Riverside, Missouri 2950 NW Vivion Road Riverside, Missouri 64150 See Exhibit A 6. Book and Page Reference: N/A SPECIAL WARRANTY DEED THIS INDENTURE is made as of November 29, 2017, 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, with a mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150, as grantor ("Grantor"), to the CITY OF RIVERSIDE, MISSOURI, a fourth class city organized and existing under the laws of the State of Missouri, with a mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150, as grantee ("Grantee"). WITNESSETH, that Grantor, in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration to Grantor duly paid, the receipt and sufficiency of which is hereby acknowledged, does by these presents SELL and CONVEY unto Grantee and Grantee's successors and assigns, the property described on Exhibit A attached hereto and made a part hereof, together with the improvements located thereon (collectively, the "Property"). This conveyance is made and accepted subject to (i) any and all exceptions, reservations, restrictions, covenants, easements, rights-of-way and other matters of record, (ii) taxes and assessments not yet due and payable, (iii) any matter that would be shown on a current accurate survey of such real property, and (iv) zoning, subdivision and land use laws and ordinances. TO HAVE AND TO HOLD the Property with all and singular tenements, hereditaments and appurtenances thereto belonging or in any wise appertaining, unto Grantee and Grantee's successors and assigns forever, Grantor hereby covenanting that the Property is free and clear from any encumbrance done or suffered by Grantor except as set forth above, and that Grantor will warrant and defend the title to the Property unto Grantee and Grantee's successors and assigns forever against the lawful claims and demands of all persons claiming or to claim the same by, through or under Grantor, except as set forth above. [SIGNATURES AND ACKNOWLEDGEMENT ON THE FOLLOWING PAGE] IN WITNESS WHEREOF, the Grantor has executed and delivered this Special Warranty Deed effective as of the date and year first written above. GRANTOR: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI By: Name: Title: ATTEST: By: Sarah Wagner, Secretary ACKNOWLEDGEMENT STATE OF MISSOURI ) SS COUNTY OF PLATTE ON THIS day of , 2017, before me, the undersigned, a Notary Public in and for said County and state, personally appeared , to me personally known, who being by me duly sworn, did say that he/she is the 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 (Seal) Printed or Typed Name My Commission Expires: WA 10176830.1 Exhibit A LEGAL DESCRIPTIONS Tract 1: Lot 1, RIVERSIDE HORIZONS INDUSTRIAL VII EAST, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof Tract 2: Lot 14, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. Tract 3: Lot 8, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. Tract 4: Lot 15, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. Tract 5: Lot 16, RIVERSIDE HORIZONS EAST FIRST PLAT, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. Tract 6: Lot 2, Horizons Office One, a subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof. Tract 7: All that part of the Northeast Quarter of Section 7, Township 50, Range 33 in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northeast corner of the Northeast Quarter of said Section 7; thence South 0°19'39" West, along the East line of said Northeast Quarter, 323.80 feet to the True Point of Beginning of the tract to be herein described; thence continuing South 0°19'39" West, along said East line, 991.98 feet to the Southeast corner of said Northeast Quarter; thence North 89°24' 18" West, along the South line of the Northeast Quarter of said Northeast Quarter, 455.64 feet; thence North 0°19'39" East, 992.06 feet; thence South 89°23'44" East, 455.64 feet to the True Point of Beginning Containing 10.38 acres, more or less; and, 4 WA 10176830.1 All that part of the Northeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northeast corner of the Northeast Quarter of said Section 7; thence South 0°19'39" West, along the East line of said Northeast Quarter, 323.80 feet; thence North 89°23'44" West, 455.64 feet to the True Point of Beginning of the tract to be herein described; thence South 0°19'39" West, 992.06 feet to a point on the South line of the Northeast Quarter of said Northeast Quarter; thence North 89°24'18" West, along said South line 195.27 feet; thence North 0°19'39" East, 992.09 feet; thence South 89°23'44" East, 195.27 feet to the True Point of Beginning Containing 4.45 acres, more or less. Tract 8: All of the Northwest Quarter of the Northeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Beginning at the Northwest corner of the Northeast Quarter of said Section 7; thence South 87°23'44" East, along the North line of said Northeast Quarter, 1302.06 feet to the Northeast corner of said Northwest Quarter; thence South 0°20' 12"West, along the East line of said Northwest Quarter, 1315.99 feet to the Southeast corner of said Northwest Quarter; thence North 89°24' 18" West, along the South line of said Northwest Quarter, 1302.27 feet to the Southwest corner of said Northwest Quarter; thence North 0°20'45" East, along the West line of said Northeast Quarter, 1316.20 feet to the Point of Beginning, except that part included in Horizons West First Plat, a subdivision in Riverside, Platte County Missouri. Tract 9: All that part of the Northeast Quarter of the Northwest Quarter and all that part of the Northwest Quarter of the Northwest Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Beginning at the Northeast corner of the Northwest Quarter of said Section 7; thence South 0°20'45" West, along the East line of said Northwest Quarter, 1316.20 feet to the Southeast corner of said Northeast Quarter; thence North 89°23'03" West, along the South line of the Northeast Quarter of said Northwest Quarter, 1249.93 feet to the East line of the Levee right-of-way line as recorded in Book 957 at Page 142 in the Recorder of Deeds in Platte County, Missouri, thence North 0°38'46" East, along said East line, 29.73 feet; thence North 89°24'45" West, along said East line, 93.17 feet; thence North 70°58'37" West, along said East line 79.82 feet; thence North 0°38'44" East, along said East line, 714.73 feet; thence North 02°14'31" East, along said East line, 307.73 feet; thence North 0°51'31" East, along said East line, 238.68 feet to a point on the North line of said Northwest Quarter; thence South 89°23'45" East, along said North line, 1402.50 feet to the Point of Beginning, except that part included in Horizons West First Plat, a subdivision in Riverside, Platte County, Missouri. Tract 10: All that part of the Northeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northeast corner of said Northeast Quarter, thence South 0°19'39" West, along the East line of said 5 WA 10176830.1 Northeast Quarter, 1815.00 feet; thence North 89°24'18" West, 774.35 feet to the True Point of Beginning of the tract to be herein described; thence continuing North 89°24' 18" West, 528.00 feet; thence North 0°20"12 East, 165.00 feet; thence South 89°24'18" East, 528.00 feet; thence South 0°20'12" West, 165.00 feet to the True Point of Beginning Containing 2.00 acres, more or less. Tract 11: All that part of the Northeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri being described as follows: Commencing at the Northeast corner of the Northeast Quarter of said Section 7; thence South 0°19'39" West, along the East line of said Northeast Quarter, 1815.00 feet to the True Point of Beginning of the tract to be herein described; thence continuing South 0°19'39" West, along said East line, 165.00 feet; thence North 89°24'18" West, 1302.37 feet; thence North 0°20'12" East, 165.00 feet; thence South 89°24' 18" East, 1302.35 feet to the True Point of Beginning. Containing 4.93 acres, more or less. Tract 12: All that part of the Northeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northeast corner of the Northeast Quarter of said Section 7; thence South 0°19'39" West, along the East line of said Northeast Quarter, 1980.00 feet to the True Point of Beginning of the tract to be herein described; thence continuing South 0°19'39" West, along said East line, 165.00 feet; thence North 89°24' 18" West, 1302.40 feet; thence North 0°20' 12" East, 165.00 feet; thence South 89°24' 18" East, 1302.37 feet to the True Point of Beginning. Containing 4.93 acres, more or less. Tract 13: All that part of the Fractional Southeast Quarter of Section 7, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northeast corner of said Fractional Southeast Quarter: thence South 0°19'39" West, along the East line of said Fractional Southeast Quarter, 162.93 feet to its intersection with the South right-of-way line of interstate Route 635, as now established, said point being also the True Point of Beginning of the tract to be herein described; thence continuing South 0°19'39" West, along said East line, 397.25 feet; thence South 0°45'49" West, along the West line of a levee as described in Book 957 at Page 142 in the Office of the Recorder of Deeds in Platte County, Missouri, 291.77 feet; thence South 16°43'59" West, along said West line 90.87 feet; thence South 85°57'49" West, along the North line of said Levee, 450.61 feet; thence South 86°20'35" West along said North line, 533.75 feet, thence South 85°56'33" West, along said North line, 292.62 feet to a point on the West line of the East One -Half of said Fractional Southeast Quarter; thence North 0°20' 12" East, along said West line, 651.98 feet to its intersection with the Southerly right-of-way line of said Interstate Route 635; thence Northeasterly, along said Southerly right-of-way line, on a curve to the right, having on initial tangent bearing of North 58°35'04" East, a radius of 1759.86 feet, a central angle of 13°58'36", an arc distance of 429.30 feet, thence North 81°19'18" East, 6 WA 10176830.1 along said Southerly right-of-way line, 311.03 feet; thence North 85°46'21" East, along said Southerly right-of-way line, 286.57 feet; thence North 87°14'15" East, along said Southerly right-of-way line, 280.90 feet; thence South 0°12'51" West, along said Southerly right-of-way line, 50.07 feet; thence North 87°14'15" East, along said Southerly right-of-way line, 40.25 feet to the True Point of Beginning. Containing 23.78 acres, more or less. Tract 14: All that part of the Fractional Southwest Quarter of Section 8, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows: Commencing at the Northwest corner of the Fractional Southwest Quarter of said Section 8; thence South 88°51'51" East, along the North line of said Fractional Southwest Quarter, 301.28 feet; thence South 01°08'09" West, 88.82 feet to a point on the Southerly right-of-way line of Interstate Route 635 as now established, said point being also the True Point of Beginning of the tract to be herein described; thence South 0°19'39" West, 807.29 feet to a point on the North line of a levee as described in Book 957 at Page 142 in the office of the Recorder of Deeds in Platte County, Missouri, thence South 80°54'23" West, along said North line, 63.34 feet; thence South 81°22'03" West, along said North line 100.86 feet; thence South 85°57'49" West, along said North line, 67.13 feet; thence North 15°58'46" West, along said North line 86.78 feet; thence North 0°45'49" East, along said North line 290.21 feet; thence South 87°49'05" West, along said North line, 48.84 feet to a point on the West line of said Fractional Southwest Quarter; thence North 0°19'39" East, along said West line, 397.25 feet to a point on the Southerly right-of-way line of said interstate Route 635; thence North 87°14'15" East, along said Southerly right-of-way line, 40.10 feet; thence North 0°11'05" East, along said Southerly right-of-way line, 50.55 feet to the True Point of Beginning Containing 5.16 acres, more or less. Tract 15: All that part of the Northwest and Fractional Southwest Quarter and Fractional Southeast Quarter of Section 8, Township 50, Range 33, in the City of Riverside, Platte County, Missouri, being described as follows; Commencing at the Northwest corner of the Fractional Southwest Quarter of said Section 8; thence South 88°51'51" East , along the North line of said Fractional Southwest Quarter, 301.28 feet; thence South 01°08'09" West 88.82 feet to a point on the Southerly right-of-way line of interstate Route 635 as now established; said point being also the True Point of Beginning of the tract to be herein described; thence North 86°33'09" East, along said Southerly right-of-way line, 1372.52 feet; thence North 87°14'15" East, along said Southerly right-of-way line 500.00 feet: thence North 89°17'23" East, along said Southerly right-of-way line, 391.75 feet to a point on the Northerly line of a Levee right-of-way as described in Book 957 at Page 142 in the office of the Recorder of Deeds in Platte County, Missouri; thence South 28°30'10" East, along said Northerly right-of-way line, 76.26 feet; thence South 72°48'53" East, along said Northerly line, 45.49 feet; thence South 17°27'22" East, along said Northerly line, 33.32 feet; thence South 69°47'04" West, along said Northerly line 21.69 feet; thence South 17°28'23" East along said Northerly line, 40.20 feet, thence North 72°27'06" East, along said North line, 21.58 feet; thence South 17°50'23" East, along said North line, 304.10 feet; thence South 75°29' 14" West, along said North line, 461.52 feet; thence South 77°48'07" West, along said North line, 770.53 feet; thence South 77°54'36" West, along said 7 WA 10176830.1 North line, 244.04 feet; thence South 81°43' 10"West, along said North line 236.60 feet; thence South 82°22'40" West, along said North line, 285.44 feet; thence South 81°46'12" West, along said North line, 317.40 feet; thence South 81°09'33" West, along said North line, 193.96 feet (Deed — 195.37'); thence North 00°19'39" East, 807.29 feet to the True Point of Beginning. Containing 36.78 acres, more or less. Tract 16: All that part of the Northeast Quarter and the Fractional Southeast Quarter of Section 8. Township 50, Range 33, in the City of Riverside, Platte County, Missouri; Commencing at the Southwest corner of said Northeast Quarter; thence North 00°25' 12" East, along the West line of said Northeast Quarter, 701.90 feet; thence South 89°34'48" East, 1396.65 feet to a point on the Westerly right-of-way line of US Highway No. 69 as now established; said point being the True Point of Beginning of the tract to be herein described; thence Southerly along said Westerly right-of-way line, on a curve to the left, having an initial tangent bearing of South 34°35'49" East a radius of 1184.93 feet, a central angle of 04°06'12" an arc distance of 84.86 feet; thence South 38°42'01" East, along said Westerly right-of-way line, 118.62 feet; thence South 00°30'45" West, 478.30 feet to a point on the North line of a Levee right-of-way line as described in Book 957 at Page 142 in the office of the Recorder of Deeds in Platte County, Missouri, thence North 68°59'35" West, along said North line, 71.47 feet (Deed — 71.39'); thence South 71°02'25" West, along said North line, 1108.03 feet; thence North 55°11'25" West, along said North line, 376.50 feet; thence North 20°37'54" West, along said North line 74.81 feet; thence North 50°40'55" East, along said North line 43.97 feet; thence North 21°31'52" West, along said North line, 51.13 feet to a point on the Southerly right-of-way line of interstate Route 635, as now established; thence North 85°09'20" East, along said Southerly right-of-way line, 248.36 feet to a point 135.00 feet from Interstate Route Centerline Station 77+68.6; thence Northeasterly, along said Southerly right-of-way line, on a curve to the left, having an initial tangent bearing of North 81°06'45" East, a radius of 1772.02 feet a central angle of 40°16'26"; an arc distance of 1245.58 feet to the True Point of Beginning. Containing 13.47 acres more or less. 8 WA 10176830.1 IDA Resolution 2017-006 IDA RESOLUTION NO. 2017-006 A RESOLUTION AUTHORIZING A CHANGE OF REGISTERED AGENT AND REGISTERED OFFICE. 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's registered agent and registered office for service of process is John McClelland, 2950 NW Vivion Road, Riverside, MO 64150; and WHEREAS, the IDA desires to change its registered agent and registered office. 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 registered agent and registered office for service of process shall be changed to Spenserv, Inc., 1000 Walnut, Suite 1400, Kansas City, MO 64106. Section 2. 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, including, without limitation, the filing of a change or registered agent and registered office form with the Missouri Secretary of State. Section 3. Any and all actions previously taken in furtherance of the foregoing resolutions by the President, Vice -President, Secretary, Assistant Secretary or other officers or agents of the IDA are hereby ratified, approved, and confirmed in all respects with the same validity and effect as if such acts had been previously authorized and directed. Section 4. The Resolution shall be in full force and effect from and after its adoption. ADOPTED THIS 29TH DAY OF NOVEMBER, 2017. This Resolution was adopted at the meeting of the Board of Directors of the IDA duly called and held this date. By: Name: Title: (SEAL) ATTEST: By: Sarah Wagner, Secretary