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HomeMy WebLinkAboutA005 - Memo to Mayor and Council dated September 14, 2001 Memo City Manager's Office e aring People Quality Programs Exceptional Service TO: Mayor and City Council FROM: Steven L. Schainker, City Manager DATE: September 14, 2001 SUBJECT: Bond Issue- Hallett's Quarry Open Space Project As you know, we have been waiting for the Vision Iowa Board's final decision regarding the amount of grant funding, if any, that will be offered to the City for the Hallett's Quarry Open Space Project. In the interim, the City Council has declared this development to be the highest priority of the remaining City projects. While there has been an indication that you would prefer to bring this matter to the voters on November 6, 2001, there has been no formal action to date to accomplish this objective. If you hope to proceed to certify this proposition in time for the regular election, you should approve the attached resolution setting the date of November 6, 2001, for the special election on the issuance of General Obligation Bonds for the purpose of paying the cost of the acquisition, construction, improvement and equipping of recreation grounds. The wording of the proposition will be: "Shall the City ofAmes, in Story County, Iowa, issue its bonds in an amount not exceeding the amount of$0,000,000 for the purpose of paying the cost, to that extent, of the acquisition, construction, improvement, and equipping of parks and recreation grounds, and developing wetlands and natural filter strip areas necessary and useful for the health and welfare of its citizens, including the acquisition of real estate therefore, on and adjacent to the area known as "Halletts Quarry"in and for the City?" Since we will not know the amount of funding that we will be granted from the Vision Iowa program until Monday morning, I have left the amount to be issued blank. We will be able to fill this in on Monday afternoon. The final amount will be based on the following calculation: $ 7,499,922 Estimated cost for the project reflected in Conservation Design Forum's approved concept plan. ($ 1,030,000) Amount of"In-kind" labor to be contributed by Story County ($ 0,000,00Q) Amount of Vision Iowa Grant ^$ ?,???,??? Amount of G.O. Bonds needed - 2 - Please remember, according to our purchase agreement with the Hubbell Company, there are a number of contingencies that must be met by December 15, 2001, in order to finalize the transaction. The most important of the City's contingencies are: 1) A park master plan pertaining to this site must be approved by the City Council. (This has been accomplished.) 2)The City must receive from the seller all studies and information relevant to the property. (This has been accomplished.) 3) The Iowa Department of Natural Resources must issue a notice that no further action is required with respect to any contamination or pollution of the property. (This has been accomplished.) 4) The City, in its sole discretion, must have determined that the quality of the water in the quarry is satisfactory. (The staff will be meeting with Professor Downing this week to receive his preliminary findings regarding the results of his testing.) 5)The voters must approve a proposition for the issuance of bonds to acquire and improve the property for a park. (This will be scheduled for November 6, 2001.) The most important of the Hubbell contingencies is: 1) The approximately 22.643 acres to the south of the property must be annexed, rezoned, a final plat be approved, and the "1320 Rule" waived by the City Council no latter than December 15, 2001. (None of these approvals have been granted as of this date. It is hoped that the necessary application material will be submitted by the seller this week.) Let's not forget that we must finalize purchase agreements with three other property owners. Paul Wiegand has informed me that these discussions are progressing well, and hopefully,conditional purchase agreements can be finalized prior to the November vote. As you can see, much work remains before we can complete this project! I • t Ames/419370-New/Election Proc RESOLUTION NO. Resolution calling an election on the proposition of issuing general obligation bonds WHEREAS, the City of Ames (the "City") intends to contract indebtedness and issue general obligation bonds for the purpose of the acquisition, construction, improvement and equipping of parks and recreation grounds, and developing a watershed protection area, necessary and useful for the health and welfare of its citizens, including the acquisition of real estate therefor, on and adjacent to the area known as "Halletts Quarry" (the "Project") in accordance with the provisions of Chapter 384 of the Code of Iowa; and WHEREAS, pursuant to Section 384.26 of the Code of Iowa, before the City may institute proceedings for the issuance of general obligation bonds for the Project, the City must hold a special election upon the proposition of issuing such bonds and receive a favorable vote from at least sixty percent of the total votes cast at such special election; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, as follows: Section 1. A special municipal election is hereby called and ordered to be held in and for the City, on Tuesday, the 6th day of November, 2001, in conjunction with the regular election on that date, at which there will be submitted to the voters of the City the following proposition to wit: Shall the City of Ames, in Story County, Iowa, issue its bonds in an amount not exceeding the amount of$ for the purpose of paying the cost, to that extent, of the acquisition, construction, improvement and equipping of parks and recreation grounds, and developing a watershed protection area, necessary and useful for the health and welfare of its citizens, including the acquisition of real estate therefor, on and adjacent to the area known as "Halletts Quarry" in and for the City? Section 2. The polls for the said election shall be kept open from 7:00 o'clock a.m. until 8:00 o'clock p.m. Section 3. The County Commissioner of Elections is hereby authorized and requested to issue a proclamation and notice of the election on the aforementioned proposition and of the time and place thereof and to take all other actions necessary pursuant to state law to conduct the election. Section 4. All of the foregoing matters are adopted and resolved by this Council, and the City Clerk is hereby directed to give written notice thereof by submitting a copy of this resolution no later than 5:00 o'clock p.m. on the last day for filing of nomination papers to the Story County Commissioner of Elections, who has the duty to conduct this election, for approval, ratification and confirmation to the extent required by Iowa law, and such County -2- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA a , Ames/419370-New/Election Proc Commissioner of Elections shall signify such approval, ratification and confirmation and shall order the election to be conducted in the manner set forth herein by signing the order attached to this resolution. Section 5. All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed, to the extent of such conflict. Passed and approved September 18, 2001. Mayor Attest: City Clerk -3- DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA