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HomeMy WebLinkAboutRes1990-033 . . . WARRANTY DEED The Grantor, SEWARD GENERAL HOSPITAL ASSOCIATION, INC. a corporation of Alaska, having its principal office at 417 First Avenue, P.O. Box 365, Seward, Alaska 99664, for and in considera- tion of the sum of ONE DOLLAR ($1.00) lawful money of the United States of America, and other good and valuable considerations in hand paid, CONVEYS AND WARRANTS to the CITY OF SEWARD, P.O. Box 167, Seward, Alaska 99664, the following described real property: Lots 1 Plat . trict, Alaska and 2 Marathon Addition according to 19 filed in the Seward Recording Dis- Third Judicial District, State of Dated this , 1990. day of SEWARD GENERAL HOSPITAL ASSOCIATION, INC. By: STATE OF ALASKA ) )ss. THIRD JUDICIAL DISTRICT ) THIS IS TO CERTIFY that on this day of , 1990, before me, the undersigned, a Notary Public in and for the State of Alaska, personally appeared , known to me and to me known to be the of SEWARD GENERAL HOSPITAL ASSOCIATION, an Alaska corporation , and severally acknowledged the execution of the foregoing instrument as voluntary act and deed of said corporation, upon full authority of the Directors and Stockholders of said corporation. IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first hereinabove written. Notary Public in and for Alaska My Commission Expires: . . . Sponsored By: Schaefermeyer CITY OF SEWARD, ALASKA RESOLUTION NO. 90-033 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, AUTHORIZING THE SALE TO THE ALASKA MUNICIPAL BOND BANK OF $1,800,000 OF GENERAL OBLIGATION BONDS, SERIES 1990, AUTHORIZED BY RESOLUTION NO. 90-024; AUTHORIZING THE MAYOR OR CITY MANAGER TO EXECUTE A LOAN AGREEMENT WITH THE ALASKA MUNICIPAL BOND BANK FOR THE PURCHASE AND SALE OF SUCH BONDS; AND PROVIDING FOR RELATED MATTERS. WHEREAS, on March 27, 1990 the City Council of the City of Seward, Alaska (the "City"), adopted Resolution No. 90-024 (the "Resolution") authorizing, interalia, the issuance and the sale of not to exceed $1,800,000 principal amount of the general obligation bonds of the City, referred to in Proposition 1 passed and approved at an election held on October 3, 1989, for the purpose of acquiring property for planning, designing and constructing capital improvements; and WHEREAS, it is hereby found to be in the best interest of the City that the Mayor or City Manager of the City execute a Loan Agreement (the "Loan Agreement") which provides for the sale, issuance and delivery by the City and the purchase by the Alaska Municipal Bond Bank (the "Bond Bank") of the $1,800,000 of said bonds authorized by the Resolution; and WHEREAS, it appears that the Loan Agreement, which is now before the City Council, is in appropriate form and is an ap- propriate instrument for the purpose intended; and WHEREAS, it is hereby found to be in the best interest of the City that the Loan Agreement be approved and executed and that certain matters relating to such bonds and the use of the proceeds of such sale be established; and WHEREAS, the Resolution provides that the City Council shall by resolution establish the total amount of bonds to be issued pursuant to the Resolution, the date of such bonds, denominations, numbers, interest rates, interest payment dates, maturities, redemption provisions, and any other details of said bonds. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, as follows: Section 1. Definitions. Capitalized terms used in this resolution which are not otherwise defined herein, shall have the 1 . . I. CITY OF SEWARD, ALASKA RESOLUTION NO. 90-033 same meaning as in the Resolution. In addition, the following terms shall have the following meanings: (a) 1990, of the herein. "Bonds" means the General Obligation Bonds, Series City authorized and approved under the Resolution and (b) "paying Agent" Pacific Bank Washington, successor, if any. or "Bond Registrar" means N.A., Seattle, Washington, Security or its Section 2. Sale by Negotiation. The Bonds shall be sold at negotiated sale at the earliest time practicable to provide funds for the purposes authorized by the Resolution and further enumerated herein. Section 3. Bond Sale. Loan Agreement and Terms of the Bonds. The sale of $1,800,000 principal amount of the Bonds which have been previously authorized by the Resolution is hereby authorized and approved, and the Mayor and City Manager of the City each are hereby authorized, empowered and directed to execute and deliver the Loan Agreement for and on behalf of the City, including necessary counterparts, in substantially the form and content now before this meeting but with such changes, modifications, additions or deletions therein as shall to them seem necessary, desirable or appropriate, their execution thereof to constitute conclusive evidence of their approval of any and all changes, modifications, additions or deletions therein from the form and content of the Loan Agreement now before this meeting, and, from and after the execution and delivery of the Loan Agreement, the Mayor and City Manager each are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Loan Agreement as executed. Section 4. Date. Maturities. Pavment Dates and Terms of Redemption of the Bonds. The Bonds shall be dated April 1, 1990 and shall bear interest payable on December 1, 1990 and semi- annually thereafter on the first days of each June 1 and December 1. The Bonds shall mature on December 1 of the years, and each maturity of the Bonds shall bear interest at the rate per annum, as follows: Maturity Date Principal Amount Interest Rate December 1, 1992 December 1, 1993 December 1, 1994 $ 45,000 45,000 50,000 6.40 % 6.50 6.60 2 CITY OF SEWARD, ALASKA RESOLUTION NO. 90-033 . December 1, 1995 55,000 6.70 December 1, 1996 55,000 6.80 December 1, 1997 60,000 6.90 December 1, 1998 65,000 7.00 December 1, 1999 70,000 7.10 December 1, 2000 75,000 7.375 December 1, 2001 80,000 7.375 December 1, 2002 85,000 7.375 December 1, 2003 90,000 7.375 December 1, 2004 100,000 7.375 December 1, 2005 105,000 7.375 December 1, 2006 115,000 7.50 December 1, 2007 120,000 7.50 December 1, 2008 130,000 7.50 December 1, 2009 140,000 7.50 December 1, 2010 150,000 7.50 December 1, 2011 165,000 7.50 . The Bonds maturing on and after December 1, 2001 shall be subject to redemption at the option of the City, subject to the prov1s10ns of the Loan Agreement, on and after December 1, 2000, in whole on any date, or in part on any interest payment date in inverse order of maturity and by lot within a maturity, at a redemption price equal to the principal amount of the Bonds to be redeemed, plus accrued interest to the date of redemption. Section 5. Deliverv of the Bonds. The proper officials of the City are authorized and directed to execute all documents and to do everything necessary for the preparation and delivery of a transcript of proceedings pertaining to the Bonds and the printing, authentication and delivery of the Bonds in definitive form to the Bond Bank. Section 6. Application of Bond Proceeds. Notwithstanding Section 12 of Resolution No. 90-024 of the City, the proceeds of the sale of the Bonds (including accrued interest) shall be deposited in the "Street and Sidewalk Improvement Fund" which is hereby created, and shall be used and applied to pay Costs of the Project which are identified in Proposition 1 and accrued interest on the Bonds. . Section 7. Ratification. All actions taken by the Mayor and City Manager of the City relative to the sale of the Bonds are hereby in all respects ratified and confirmed. The appropriate officers of the City have been authorized and directed pursuant to Section 3 hereof to execute the Loan Agreement and are hereby authorized and directed to all such other things necessary for the proper execution, issuance and delivery of the Bonds and for the proper application and use of the Bond proceeds. 3 . . . CITY OF SEWARD, ALASKA RESOLUTION NO. 90-033 Section 8. Postinq. Upon adoption of this Resolution, the Clerk or Acting Clerk of the City shall cause a true copy of same to be posted on the City Hall bulletin board as provided in Seward City Code Section 2.15.035(d). Section 9. Effective Date. effective upon passage and approval Code Section 2.15.050(c). This Resolution shall becdme in accordance with Seward City PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 11th day of April 1990. THE CITY OF SEWARD, ALASKA (~~ WILLIAM C. NOLL, MAYOR AYES: NOES: ABSENT: ABSTAIN: Burgess, Dunham, Hilton, Meehan, Noll, Simutis None Sieminski None APPROVED AS TO FORM: ATTEST: PERKINS COlE, Attorneys for the City of Seward, Alaska Q~~-~ PATRICIA J. JONES Acting City Clerk 7~1?P;~ FRED ARVIDSON City Attorney (City Seal) 4