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HomeMy WebLinkAboutOrd.303.03-05-1986 ��'� :K �`�� i'�'.,[ U l.3'� ^ BILL N0. 86-18 ORDINANCE NO. �Q� AN ORDINANCE VACATING A SEWER EASEMENT IN SE4dER DISTRICT N0. 12-PP & 14-L , IN THE CITY OF CAPE GIRARDEAU, MISSOURI WHEREAS, tY�e City Council has received a request from St . Francis P9edical Center that the City vacate a se�aer easement on property owned by St . Francis Medical Center and more particularly descried in Section 1 hereof; and WHEREAS, the City rouncil set the date of February 19 , 1986 for a public hearing on this request ; and ��HFREAS, at least ten days notice of the time and place of this hearing was published in a newspaper of general circulation in the City; and WHEREAS , A public hearing was held on February 19 , 1986 at which all interested parties were afforded the opportunity to speak in favor of or in opposition to the proposed sewer easement vacation; and ^ Y�HEREAS , the City Council has determined that the sewer easement in question in Sewer District No. 12-PP and 14-L is not necessary or needed for any of the purposes for which it was dedicated and established; and WHEREAS, it is in the public interest that the sewer easement be vacated; . PJ047, THEREFOR� , BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI , AS FOLLOWS: SECTION 1 . The sewer easement in Sewer District 12-PP & 14-L, on the following described real estate: A strip of land 5 feet on either side of the following line in Outlot 84 , Township 30 North , Ranae 13 East . Start at the northwest corner of Outlot 84 ; thence South along the j�lest line of Outlot 84 , 163 feet ; thence S. 84° 47 ' E . , 35 . 01 feet to the northwest corner of_ the St . Francis Hos�ital tract; thence East along the North line of said tract, 1 , 258 . 0 feet to the extreme northeast corner of said tract , being also on the tilest line of Park West Professional Plaza; thence South along said West line , 625 , 7 feet to the southwest corner of Park West Professional Plaza; �"'` thence continuing South with said West line extended, (i�� {t.� - � .;���'�, 1�.�� ���_C �JVt... 15� . 0 feet ; thence southwesterly with a def]_ection angle of 50° 26 ' right , 7 feet to a point South of a '� manhole for a point of begin�zing ; Thence continuing on said southwesterly line , 333 . 0 feet to the northeast line of the 10 acre tract containing the or. iginal buildi_ng of the ne4� St . Francis Hospital and there terminating . is hereby vacated . SECTION 2 . This ordinance shall be in full force and effect ten days after its passage and approva.l . PASSED AND APPROVED THIS S� DAY OF , 1986 . ,✓b�-�� � '"� ' Howard C . Tooke, T9ayor ATTEST: � , � A vin M. Stoverink , City Clerk . STATE OF MISSOURI - ) ) ss . COUNTY OF CAPE GIRARDEAU ) On this 5 � day of y'C�, 198 �p , before me ��� appeared Howard C. Tooke , to me personally known, who, being by me duly sworn , did say that he is the Mayor of the City of Cape Girardeau, Missouri , a Municipal Corporation of the State of Missouri , and that the seal affixed to the foregoing instrument is the seal of said City and that th2 said instrument was signed and sealed in behalf of said City by authority of its City Council and ackno�aledged said instrument to be tYie free act and deed of said City. IN TESTIMONY WHEP.EOF , I have hereunto set my hand and affixed my official seal , at my office in Cape Cirardeau, Missouri , the day and year first above written . . . ��,L,C,�% 4J . Cw--' � � � G�� Delores G. Needham, Notary Public P9y Commiss�ion Expires; . � ' �October 8 , 1988 �^ :' . � r, ���� 4�� ���.� ��� �� , . � STATE OF MISSOURI l In the Recorder's Office County of Cape Girardeau, S SS. I, JANET ROBERT, Recorder of Said County, do hereby certify that the within instrument of writing was, at _ � 8 ,o'clock and 48 minutes A• 117., on the llth day of March , A. D., 19 86 duly filed for record in my office, and is recorded in the records of this office, in book 442 at page 884 . IN WITNESS WHEI�EOF,-I have hereunto set my hand and affixed fficial seal at "� Jackson, Mo., the date first above written. BY ,Deputy Recorder JANE ROBERT J�� _ _... . t���.-�` loc � �� � � �, . � , � `� � l-'� � ' � � � �, t-'_ � �l, � � � 3` � � a, � '�, a �� � � �.J � �� r� �� �:.: INDEX � PAGE Title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Recitals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ARTICLE I DEFINITIONS Section 101 . Definitions of Words and Terms . . . . . . . . . . . . 2 ARTICLE II AUTHORIZATION OF BONDS Section 201 . Authorization of Bonds . . . . . . . . . . . . . . . . . . . . 4 Section 202 . Security for Bonds . . . . . . . . . . . . . . . . . . . . . . . . 4 Section 203 . Description of Bonds . . . . . . . . . . . . . . . . . . . . . . 4 Section 204. Designation of Paying Agent and Bond Registrar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Section 205 . Method and Place of Payment of Bonds . . . . . . 5 Section 206 . Registration, Transfer and Exchange of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 '"` Section 207 . Execution, Authentication and Deliuery of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 ARTICLE III REDEMPTION OF BONDS Section 301 . Mandatory Redemption . . . . . . . . . . . . . . . . . . . . . . 7 Section 302 . Optional Redemption . . . . . . . . . . . . . . . . . . . . . . . 8 Section 303 . Notice of Redemption . . . . . . . . . . . . . . . . . . . . . . 8 Section 304. Selection of Bonds to be Redeemed . . . . . . . . . 8 Section 305 . Effect of Call for Redemption . . . . . . . . . . . . . 9 ARTICLE IU FORM OF BONDS Section 401 . Form of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 ARTICLE U ESTABLISHMENT OF FUNDS AND ACCOUNTS ,,� Section 501 . Creation of Funds and Accounts . . . . . . . . . . . . 16 Section 502 . Administration of Funds and Accounts . . . . . . 16 �1) � ORDINANCE N0. 304 OF TNE CITY OF CAPE GIRARDEAU, MISSOURI ADOPTED MARCH 5, 1986 $1 , 400, 000 SEWERAGE SYSTEM REVENUE BONDS SERIES 1986 � , �;� �` ARTICLE VI APPLICATION OF BOND PROCEEDS Section 601 . Disposition of Bond Proceeds . . . . . . . . . . . . . . 16 Section 602 . Application of Moneys in the Construction Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Section 603 . Withdrawals from Construction Account . . . . . 17 Section 604. Surplus in Construction Account . . . . . . . . . . . 17 ARTICLE VII APPLICATION OF REVENUES Section 701 . Re�enue Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Section 702 . Application of Moneys in Funds and Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Section 703 . Deficiency of Payments into Funds or Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Section 704. Transfer of Funds to Paying Agent and Bond R�gistrar . . . . . . . . . . . . . . . . . . . . . . 21 ARTICLE VIII � DEPOSIT AND INUESTMENT OF MONEYS Section 801 , Deposits of Moneys . . . . . . . . . . . . . . . . . . . . . . . . 21 Section 802 . In�estment of Moneys . . . . . . . . . . . . . . . . . . . . . . 22 Section 803 . Arbitrage Couenant . . . . . . . . . . . . . . . . . . . . . . . . 22 ARTICLE IX PARTICULAR COVENANTS OF THE CITY Section 901 . Efficient and Economical Operation . . . . . . . . 23 Section 902 , Rate Covenant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Section 903 . R�asonable Charges for all Seruices . . . . . . . 23 Section 904. Restrictions on Mortgage or Sale of System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Section 905 . Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Section 906 . Books , Records and Accounts . . . . . . . . . . . . . . . 24 Section 907 . Annual Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Section 908 . Annual Audit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Section 909 . Consulting Engineer Report . . . . . . . . . . . . . . . . 26 S�ction 910 . Bondholders Right of Inspection . , . . . . . . . . . 26 Section 911 . Performance of Duties . . . . . . . . . . . . . . . . . . . . . 26 Section 912 . Miscellaneous Co�enants Regarding Tax Exemption . . . . . . . . . . . . . . . . . . . . . . . . . . 26 � (ii) ARTICLE X � ADDITIONAL BONDS Section 1001 . Prior Lien Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Section 1002 . Parity Lien Bonds . . . . . . . . . . . . . . . . . . . . . . . . . 28 Section 1003 . Junior Lien Bonds . . . . . . . . . . . . . . . . . . . . . . . . . 29 Section 1004. Refunding Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 ARTICLE XI DEFAULT AND REMEDIES Section 1101 . Acceleration of Maturity in E�ent of Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Section 1102 . Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Section 1103 . Limitation on Rights of Bondholders . . . . . . . 31 Section 1104 . Remedies Cumulati�e . . . . . . . . . . . . . . . . . . . . . . . 31 Section 1105 . No Obligation to Le�y Taxes . . . . . . . . . . . . . . . 32 ARTICLE XII DEFEASANCE Section 1201 . Defeasance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 '�' ARTICLE XIII AMENDMENTS Section 1301 . Am�ndments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 ARTICLE XIV MTSCELLANEOUS PROVISIONS Section 1401 . Notices , Consents and Other Instruments by Bondholders . . . . . . . . . . . . . 34 Section 1402 . Se�erability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Section 1403 . Gouerning Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Section 1404 . Effectiue Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Passage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Signatures and Seal . . . . . . . . . . . . . . . . . . . . . . . 35 � (iii)