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Home My WebLink About2003-060 - First Amendment to Cooperation AgreementBILL NOo~ ~D~ ,o ~ ORDINANCE NO. ~~D,~ O AN ORDINANCE APPROVING THE FIRST AMENDMENT TO COOPERATION AGREEMENT AMONG THE CITY OF RIVERSIDE, MISSOURI, RIVERSIDE-QUINDARO BEND LEVEE DISTRICT OF PLATTE COUNTY, MISSOURI, UMB BANK, N.A., AS TRUSTEE, AND PLATTE COUNTY, MISSOURI; AND AUTHORIZING RELATED ACTIONS. WHEREAS, in connection with the issuance of Levee District Improvement Bonds to provide funds to pay a portion of the costs of the Levee Project, the City of Riverside, Missouri, the Riverside Quindaro Bend Levee District, Platte County, Missouri and UMB Bank, NA, entered into the Cooperation Agreement dated as of December 1, 2001; WHEREAS, the Cooperation Agreement requires that the Levee District promptly take all actions necessary or desirable to enforce its lien for Levee Taxes regardless of the amount of delinquent taxes outstanding or the costs of collection; and WHEREAS, it is desirable to allow the Levee District to consider the amount of the delinquent taxes in determining the enforcement of its lien. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: Section 1. Authorization and Approval of First Amendment. The First Amendment to Cooperation Agreement, in substantially the form attached as Exhibit A, is approved and the City is authorized to execute and deliver the First Amendment with such changes as shall be approved by the officials of the City executing the First Amendment, such officials' signatures thereon being conclusive evidence of their approval and the City's approval thereof. Section 2. Execution and Further Authority. The Mayor and the City Clerk are authorized to execute and attest, respectively, and to deliver the First Amendment. The City shall, and the officials, agents and employees of the City are authorized and directed to, take such further action, and execute such other documents necessary or desirable to carry out and comply with the intent of this Ordinance, and to carry out, comply with and perform the duties of the City with respect to the Cooperation Agreement, as amended and the transactions contemplated thereby. Section 3. Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval. PASSED by the Board of Aldermen and APPROVEll by the Mayor this ~'~~of .7uly 2003. Mayor ATTEST: {seal} ~~ ~~ ~ / L / _ City, erk FIRST AMENDMENT TO COOPERATION AGREEMENT This First Amendment is made and entered into as of July 28, 2003, by and among the CITY OF RIVERSIDE, MISSOURI, a fourth class city of the State of Missouri (the "City"), PLATTE COUNTY, MISSOURI, a first class county of the State of Missouri (the "County"), RIVERSIDE-QUINDARO BEND LEVEE DISTRICT OF PLATTE COUNTY, MISSOURI, a levee district formed under Sections 245.010 to 245.280 of the Revised Statutes of Missouri, located in Platte and Clay Counties, Missouri (the "Levee District"), and UMB BANK, N.A., a national banking association, ("Trustee"). A. The City, the County, the Levee District and the Trustee entered into the Cooperation Agreement dated as of December 1, 2001 ("Cooperation AgreemenY') relating to the Missouri Development Finance Board Infrastructure Facilities Revenue Bonds (Riverside-Quindaro Bend Levee District of Platte County, Missouri L-385 Project), Series 2001 (the "MDFB Bonds"). B. Section 4(e) of the Cooperation Agreement requires that The Levee District shall promptly take all actions necessary or desirable to enforce its lien for Levee Taxes. The County Collector will promptly take all actions required of him by Missouri law to collect the Levee Taxes and to enforce the lien of the Levee taxes. C. Section 4(e) requires enforcement of the lien for Levee Taxes regardless of the amount of delinquent Levee Taxes or the costs of such collections. D. It is desirable to allow the Levee District (and the County Collector to the extent so directed by the Levee District) discretion in determining whether to enforce its lien under certain specified conditions. AGREEMENT NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements contained herein, the parties agree as follows: Section 1. Amendment. Subsection (e) of Section 4 of the Cooperation Agreement is deleted in its entirety and replaced with the following: Section (e). The Levee District shall promptly take all actions necessary or desirable to enforce its lien for Levee Taxes; provided, however, if sufficient Levee Taxes have been collected to make the applicable Debt Service payments and the Levee District reasonably anticipates that only a de minimis amount of delinqucnt Levee Taxes will be collected or that the costs and expenses associated with cnforcemcnt of such lien will equal or exceed the amount of delinqucnt Levee Taxes, the Lcvcc District may, in its reasonable discretion, make a determination not to pursue cnforcemcnt of its lien for such delinquent Levee Taxes ("Determination"). The County Collector will promptly take all actions required of him or her by Missouri law to collect the Lcvcc Taxes and to enforce the lien of the Lcvcc taxes; except to the extent that the Levee District has made a Determination with respect to specified delinqucnt Levee Taxes. Each such Determination shall be made on an annual basis and shall apply only to that year with such Determination being reexamined and re-determined each year. Section 2. Definitions. All capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Cooperation Agreement. Section 3. Full Force and Effect. The Cooperation Agreement as amended hereby shall continue in full force and effect. [The remainder of this page is left intentionally blank.] IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives. ATTEST: B / ' ~ '~ y~', ~ ~~ Name: ouisc Rusick Title: City Clerk ATTEST: By: Name: Titles County Clerk ATTEST: B / ~Lu ~7.~--c-C.,-Z. Y Name: Phil Snowden Titles Secretary CITY OF RIVERSIDE, MISSOURI By: ~~c-thc-~i Name: Betty Bur Title: Mayor ~ % Execution Datc: -,~/ PLATTE COUNTY, MISSOURI By: Name: Betty Knight Title: Presiding Commissioner Execution Date: RIVERSIDE-QUINDARO BEND LEVEE DISTRICT OF PLATTE COUNTY, MISSOURI Names Robert Giesckc Title: President Execution Datc: ~ ~~~`C UMB BANK, N.A., as Trustcc By: cv~ Name: R,larsecs~an, L~.o~~+-_utA Title: Authorized Signatory Execution Date: J ~s~s/ ~ S~ z v a 3 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives. ATTEST By: Name: Louise Rusick Title: City Clerk ATTEST: Name: ~~~ {~jQ~ ~,~ Title: County Clerk ATTEST: Y~ Name: Phil Snowden Title: Secretary CITY OF RIVERSIDE, MISSOURI By: Name: Betty Burch Title Mayor Execution Date: PLATTE COUNTY, MISSOURI By: 9 Name: Betty igh Title: Presiding Comm s o er Execution Date: RIVERSIDE-QUINDARO BEND LEVEE DISTRICT OF PLATTE COUNTY, MISSOURI - <, Name: Robert W. Gieseke Title: Board President Execution Date: 6/26/03 ___________ UMB BANK, N.A., as Trustee By: Name: Title: Authorized Signatory Execution Date: ACKNOWLEDGMENT STATE OF MISSOURI ) SS. COUNTY OF PLATTE ) On this [(,day of , 2003, before me, the undersigned, a Notary Public, appeared BETTY BURCH, to me persona known, who, being by me duly sworn, did say that she is the Mayor of the CITY OF RIVERSIDE, MISSOURI, a body politic and corporate duly authorized, incorporated and existing under and by virtue of the laws of the State of Missouri, and that the seal affixed to the foregoing instrument is the corporate seal of said City, and that said instrument was signed and sealed in behalf of said City by authority of its Governing Body, and said officer acknowledged said instrument to be executed for the purposes therein stated and as the free act and deed of said City. IN WITNESS WIIEREOF, I have hereunto set my hand and affixed my notarial seal, the day and year last above written. THOMAS E. ARCHIBALD Notary Public -Notary Seal Slate of Missouri Platte County My C Expires August 28, 2005 ~1 Printed Name: ~ Notary Public in and for said County and State Jr My commission expires: $~~~ ~' ACKNOWLEDGMENT' S`L'ATE OF MISSOURI ) SS. COUNTY OF PLATTE ) On this ~T~Flay of fUn+~ , 2003, before mc, the undersigned, a Notary Public, appeared BF,TTY KNIGHT, to me personally known, who, being by me duly sworn, did say that she is the Presiding Commissioner of PLATTE COUNTY, MISSOURI, a body politic and corporate duly authorized, incorporated and existing under and by virtue of the laws of the State of Missouri, and that the seal affixed to the foregoing instrument is the corporate seal of said County, and that said instrument was signed and sealed in behalf of said County by authority of its Governing Body, and said officer acknowledged said instrument to be executed for the purposes therein stated and as the free act and deed of said County. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal, the day and year last above written. Pnn e me: u. / Notary P blic in nd for said County and State (SEAL) ~ a~:,;~; ,;;~i_ __-- ~. My commission expires ~ ~; ~ ~r~~~ ~ ~ ~~~~~-- z~ ~ s ' ~."~_~; ACKNOWLEDGMENT STATE OF MISSOURI ) SS. COUNTY OF PLATTE ) On this~~~ ~ day of ~, ~~ ~~ c , 2003, before mc, the undersigned, a Notary Public, appeared ROBERT GIESEKE, to me personally known, who, being by me duly sworn, did say that he is the President of RIVERSIDE-QUINDARO BEND LEVEF, DISTRICT OF PLATTE COUNTY, MISSOURI, a body politic and corporate duly authorized, incorporated and existing under and by virtue of the laws of the State of Missouri, and that the seal affixed to the foregoing instrument is the corporate seal of said District, and that said instrument was signed and sealed in behalf of said District by authority of its Governing Body, and said officer acknowledged said instrument to be executed for the purposes therein stated and as the free act and deed of said District. IN WITNESS WHEREOF, I have hereunto set my hand and affixed any notarial seal, the day and year last above written. ~ ~ , (SEAL) My commission expires: Printed Namc: Notary Public in and for said County and State I~~IIi' '. .'„~~~_ Not~~,~ .'u': ~ .., r~ eul STATE :. `"'~'~'~_;?I ACKNOWLEDGMENT STATE OF MISSOURI ) SS. COUNTY OF JACKSON ) On this 28ttlay of Ju 1 y , 2003, bcforc mc, the undersigned, a Notary Public, appeared R . 4! i 1 1 i am B 1 oemke r who being bcforc me duly sworn did say that (s)he is a Vice President of UMB BANK, N. A., a national banking association organized under the laws of the United States of America and that the seal affixed to the foregoing instrument is the seal of said association, and that said instrument was signed and scaled on behalf of said association by authority of its board of directors, and said official acknowledged said instrument to be executed for the purposes therein stated and as the free act and decd of said association. IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed my notarial seal, the day and year last above written. ~ ~ Printed Name. Linda hl i 1 son Notary Public in and for said County and State {SEAL } My commission expires =-; ~, _-~ :m .T -: ~ ,, , s~~ MV CONMiE;.__C' FX?I~~F_$; JULY ~!, c:.in