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79 of 1979 - Resolution authorizing the issuance of $900,000 Industrial Development Revenue Bonds to Nabisco, Inc T • Uctoner 2Z, 1978 Honorable Jannia6s Phillips, Jr. Commissioner of Public Affairs and Finance 211 City and County Building Salt Lake City. Utah Dear Commissioner Phillips: The Board of City Commissioners, at its meeting today, passed Resolution No. 79 of 1979, authorising the Issuance of$900,000 Industrial Development Revenue Bonds to Nabisco, Inc. Yours truly, City Recorder ma CC: Auditor Treasurer .. Files-2 Salt Lake City, Utah October 25 , 1979 The Board of Commissioners of Salt Lake City, Salt Lake County, Utah, met in regular public session at the regular meeting place of the Board of Commissioners at Room 301 of the City and County Building in said city at 10:00 o'clock A.M. on October 25 , 1979. The following members of the Board of Commissioners were present: TED L. WILSON , Mayor DAVID C. CAMPBELL , Commissioner GLEN N. GREENER , Commissioner JENNINGS PHILLIPS, JR. , Commissioner , Commissioner , Commissioner Absent: JESS A. AGRAZ There were also present: ROGER F. CUTLER, CITY ATTORNEY MILDRED V. HIGHAM, CITY RECORDER After the meeting had been duly called to order and the minutes of the preceding meeting read and approved, the City Recorder presented to the Board of Commissioners an affidavit evidencing the giving of not less than twenty-four (24) hours public notice of the agenda, date, time and place of the October 25, 1979, meeting of the Board of Commissioners in compliance with the requirements of Section 52-4-6-(2), Utah Code Annotated, 1953, as amended, by (1) posting written notice of the meeting at the 200 principal office of the Board of Commissioners at Room 8 sl of the City and County Building in Salt Lake City, Utah, and (2) providing notice to at least one newspaper of general circulation within the geographic jurisdiction of the city, or to a local media correspondent. The affidavit was ordered recorded in the minutes of the meeting and is as follows: -2- STATE OF UTAH COUNTY OF SALT LAKE ) I, the undersigned, the duly qualified and acting City Recorder of Salt Lake City, Salt Lake County, Utah, do hereby certify, according to the records of said city in my official possession, and upon my own knowledge and belief, that in accordance with the requirements of Section 52-4-6(2), Utah Code Annotated, 1953, as amended, I gave not less than twenty- four (24) hours public notice of the agenda, date, time and place of the October 25, 1979, public meeting held by the Board of Commissioners of Salt Lake City, Utah, by: (a) causing a Notice of Public Meeting to be posted at the principal office of the Board of Commissioners at Room ia of the City and County Building in Salt Lake City, Utah, on October 1979 at least twenty-four (24) hours before the convening of the meeting, in the form attached hereto as Exhibit A; said Notice of Public Meeting having continuously remained so posted and available for public inspection during the regular office hours of the city until the convening of the meeting; and (b) causing a copy of the Notice of Public Meeting in the form attached hereto as Exhibit A to be provided on Oct. 24. 1979 , at least twenty-four (24) hours before the convening of the meeting, to ST. Trihunp & Des. News , a newspapers of general circulation wtihin the geographic jurisdiction of the city, and to each local media correspondent, newspaper, radio station or television station which has requested notification of meetings of the Board of Commissioners. -3- IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the official seal of Salt Lake City, Salt Lake County, Utah, this 25th day of October, 1979. City Recorder Salt Lake City, Ut [AFFIX SEAL HERE] —4— AWOL EXHIBIT A NOTICE OF REGULAR MEETING OF THE BOARD OF COMMISSIONERS OF SALT LAKE CITY, UTAH PUBLIC NOTICE is hereby given that the Board of Commissioners of Salt Lake City, Utah will hold a regular public meeting at the offices of the Board at Room 301 of the City and County Building in Salt Lake City, Utah, commencing at 10:00 o'clock A.M. on October 25, 1979. The Agenda for the meeting consists of the following: 1. Consideration and adoption of a resolution authorizing the financing of certain facilities, including land, building and equipment, by the issuance and sale of $900,000 aggregate principal amount of Industrial Development Revenue Bonds (Nabisco, Inc. Project) of Salt Lake City, Utah, authorizing the execution and delivery of a Financing Agreement between said City and Nabisco, Inc. and authorizing the execution and delivery of various documents in connection with the foregoing and related matters. (INSERT REMAINDER OF AGENDA) Dated: October 2a, 1979 BY Gl/u¢ U• �I ` /.t4.l. City Recorder '/ -5- • NOTICE OF REGULAR MEETING OF THE BOARD OF COMMISSIONERS OF SALT LAKE CITY, UTAH PUBLIC NOTICE is hereby given that the Board of Commissioners of Salt Lake City, Utah, will hold a regular public meeting in Room 301 City and County Building, Salt Lake City, Utah, commencing at 10:00 o'clock a.m., on Thursday, October 25, 1979 The agenda for the meeting consists of the following: ROLL CALL I. ANNOUNCEMENTS BY CITY COMMISSIONERS III. BID OPENINGS 1. CITY RECORDER - for construction of an addition and remodeling to the Central City Community Center, alternate No. 1 - northeast parking lot expansion, Project No. 3-N-4, Phase 2. IV. DISCUSSIONS WITH CITIZENS PRESENT & RELATED ACTION 2. Avenues Residents - Re: Street blockade on "J" Street and 3rd Avenue, "K" Street and 2nd Avenue and "L" Street and 1st Avenue. V. BONDS & INSURANCE, REQUISITIONS, AUTHORIZED LIST & BILLS 3. FINANCE - Approving Insurance. 4. PUBLIC UTILITIES - Requisitions. 5. AUTHORIZED LIST 6. BILLS VI. PETITIONS 7. PETITION NO. 897, By - Kearns Improvement District - Req. permission to borrow Salt Lake City pitometer equipment for a Kearns Improvement District water study. 8. PETITION NO. 925, By - Mountain Fuel Supply Company - Submitting an easement for natural gas to serve facilities of Eastern Air Lines at 2445 Jet Way Avenue. 9. PETITION NO. 930, By - Mary Williams - Req. release of her car from the City Impound Lot and payment of $77.91 for the tapes and jumper cables that were taken from the car. 10. PETITION NO. 934, By - Linton Productions - Req. permission to film a sequence involving a collision of two vehicles in the area of Northmont Drive, Northmont Way at the end of "I" street on Friday, October 26, 1979. VII. PERSONNEL ITEMS 11. PUBLIC UTILITIES - Reclassification for Enzo Calfa. 12. PUBLIC UTILITIES - Req. that the Public Utilities Manning Document be modified to reflect an increase of two Clerk III',s for Customer Service. 13. CITY AUDITOR - Merit increase for Gloria C. Lucio. 14. CHIEF OF POLICE - Appointing Tessie Rae Liapis & Freddie May McNeal. 15. CHIEF OF POLICE - Reclassifying Pierre A. Nelson. 16. CHIEF OF POLICE - Promoting seven (7) police officers to First Grade. 17. CHIEF OF POLICE - Promoting seventeen (17) police officers to Second Grade. 18. CHIEF OF FIRE - Salary correction for Battalion Chief Frank E. Florence. 19. HIRING COMMITTEE - Submitting letter of recommendation for job openings and salary adjustments. 20. DIRECTOR OF AIRPORTS - Appointing Robert Andrus. 21. DIRECTOR OF AIRPORTS - Appointing Susan D. Wagner. 22. DEVELOPMENT SERVICES - Appointing Frederick Friedland. 23. DEVELOPMENT SERVICES - Appointing Roy Richard Kohutek. 24. DEVELOPMENT SERVICES - Salary correction for Mary Lee Pierce. 25. DEVELOPMENT SERVICES - Classification and salary change for Steve C. Warren. II. TRAVEL RELATED ITEMS 26. PUBLIC UTILITIES - Req. permission for Wendell Evensen and Willy DeVault to travel to Las Vegas on Friday, October 26, on City business. 27. PUBLIC SAFETY - Authorizing reimbursement of $85.63 to Chief Baker for expenses on trip to Palm Springs - October 7 - 12. 28. PUBLIC PLANNING & DEVELOPMENT - Req. permission for John Gust and Scott Gardner to attend the annual National Recreation and Parks Convention in New Orleans, La. 29. CITY AUDITOR - Regarding travel payment advances. 30. ENGINEERING - Req. permission for Raymond A. Bullock to attend a Neighborhood Housing Services Advisory Committee Workshop in Steamboat Springs, Colorado on October 23 - 25, 1979. 31. CHIEF OF FIRE - Authorizing reimbursement of $669.88 to Chief Baker for expenses on trip to Palm Springs - October 7 - 12. 32. PERSONNEL - Req. permission for Larry L. Witherow to attend the First National Symposium on the Issues of Vietnam Veterans in Rohnet Park, California, October 26 - 28, 1979. CONTRACTS & AGREEMENTS & RELATED ITEMS 33. PUBLIC UTILITIES - Awarding contract to Arthur Higgins for construction of the Lower Canyon Cove Tank, Project No. 103-A-3. 34. ENGINEERING - Sub. the First Partial Estimate of $107,639.00 payable to Gibbons & Reed Construction Company for the construction of Aircraft Tiedown Apron at Salt Lake City Airport No. 2. 35. ENGINEERING - Sub. the First Partial Estimate of $27,000.00 payable to Alert Electric for street lighting on 5600 West from Amelia Earhart to 700 North, Project No. 38-668-2. 36. ENGINEERING - Req. payment of $11,097.17 to Neils Valentiner & Associates - The Land Group for consultant services in connection with CBD No. 2, Project No. 622. 37. ENGINEERING - Req. payment of $10,350 to Neils Valentiner &Associates - The Land Group for consultant services in connection with CBD No. 2, Project No. 622. 38. ENGINEERING - Sub. Extra Work Order No. 11 to the contract with Jacobsen Construction Company for the construction of the East Expansion on Terminal Unit No. 1 at the Salt Lake City International Airport. 39. ENGINEERING - Sub. Extra Work Order No. 12 to the contract with Jacobsen Construction Company for the construction of the East Expansion on Terminal Unit No. 1 at the Salt Lake City International Airport. 40. ENGINEERING - Sub. Extra Work Order No. 36 to the contract with Gibbons & Reed Construction Company for the construction of Terminal Unit No. 2 Apron at the Salt Lake City International Airport. 41. ENGINEERING - Awarding contract to Yerkey Sprinkler Company for the installation of a sprinkler system at Nibley Golf Course. 42. DIRECTOR OF AIRPORTS - Sub. an agreement leasing the building which the old Airport Surveilance Radar was located, to the Federal Aviation Administration. 43. DIRECTOR OF AIRPORTS - Sub. an agreement between the City and Eastern Airlines to utilize the site and facility in the southeast corner of the Salt Lake City Inter- national Airport as a Regional Reservation Center. 44. OPC - Sub. an Appraisal Contract between the Redevelopment Agency and Mr. J. Alan Payne for appraisal of the 19th Ward building and the adjoining property on the west. X. OTHER CITY BUSINESS 45. MAYOR - Req. to appoint Peggy Boevers to replace Patricia Frobes on the Salt Lake City Civil Service Commission. 46. PUBLIC UTILITIES - Canceling agreement with Development Associates Investment Company for Watermain Extension No. 35-4042, Sunset Oaks Plat "B" Subdivision. 47. CITY AUDITOR - Regarding Commission action of October 2, 1979 with respect to the Crime Prevention Unit Building at 922 South 7th East. 48. CITY ATTORNEY - Petition for Abatement of Public Nuisance and Order to Show Cause in Re: 219 North 800 West in Salt Lake City - Salt Lake City Corporation vs. Nelson & Martinez. 49. CITY ATTORNEY - Req. approval of Plat to Bench Mark Subdivision. 50. CITY ATTORNEY - Notice of Sale of automobiles impounded by the Police Department. 51. CITY TREASURER - Req. payment of $779.80 to United States Banknote Corporation for printing of North Point Special Improvement District, Watermain Extension 35-4012. 52. TRAFFIC VIOLATIONS - Req. to refund $5.00 to Marcos D. Toscano. 53. TRAFFIC VIOLATIONS - Req. to refund $25.00 to Gregory A. Johnson. 54. TRAFFIC VIOLATIONS - Req. to refund $3.00 to Collette Myers. 55. DEVELOPMENT SERVICES - Req. permission to show a United Way fund raising film to City employees on October 29, 1979. 56. OPC - Recommending payment of $1,902.70 to Don W. and Helen D. Layton for property located on the corner of 800 South and 500 East which the City condemned for construction of the Artesian Well mini-park. 57. OPC - Approving documentation and authorizing payment to Aaron Byrd and Mr. and Mrs. Walter Pace in connection with acquisition of property for the Sego Park project. I. ORDINANCES 58. CITY ATTORNEY - Sub. an ordinance amending Sections 51-15A-8(3) and (4) and 51-17A-8(3) and (4) clarifying that the incentive available to encourage the use of parking structures in an R-3A and R-5A use districts can be limited to one floor of such parking structures. 59. ORDINANCE :II. RESOLUTIONS 60. RESOLUTION AND CLOSING DOCUMENTS - $1,000,000 Industrial Revenue Bonds for Nabisco Company. • DATED October 24. 1979 r'. BY j it! �J VERIFICATION OF NOTICE STATE OF UTAH ss. COUNTY OF SALT LAKE) On Wednesday, October 24, 1979 , I personally posted copies of the foregoing notice in conspicuous view, at the following times and locations within the City and County Building, Salt Lake City, Utah: 1. At 9:55 a.m., in Room 200 (Salt Lake City Recorder's Office). 2, At 10:00 a.m., in the newsroom in Room 301. 'j/ , 1., �. '..:/-(..-% ✓�l�:i✓L City Recorder Recorder / Subscribed and sworn to before me this 24th day of October, 1979 NOTARY PUBLIC residing in Salt Lake City, Utah My Commission Expires: • 1-8-83 Thereupon, after the conduct of other business, the following resolution was introduced in writing by Mayor Ted L. Wilson , was read in full and pursuant to motion duly made by Jennings Phillips, Jr. , and seconded by Glen N. Greener was adopted by the following vote: AYE: Ted L. Wilson, Mayor David C. Campbell, Commissioner Glen N. Greener, Commissioner Jennings Phillips, Jr., Commissioner NAY: None The resolution was then signed by the Mayor in open meeting and was recorded by the City Recorder. The resolution is as follows: A RESOLUTION AUTHORIZING THE FINANCING OF CERTAIN FACILITIES, INCLUDING LAND, BUILDING AND EQUIPMENT BY THE ISSUANCE AND SALE OF $900,000 AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL DEVELOPMENT REVENUE BONDS (NABISCO, INC. PROJECT) OF SALT LAKE CITY, SALT LAKE COUNTY, UTAH, AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCING AGREEMENT BETWEEN SAID CITY AND NABISCO, INC. AND AUTHORIZING THE EXECUTION AND DELIVERY OF VARIOUS DOCUMENTS IN CONNECTION WITH THE FOREGOING AND RELATED MATTERS. *** *** *** *** *** -6- WHEREAS, Salt Lake City, Salt Lake County, Utah (the "City"), is authorized and empowered by the provisions of the Utah Industrial Facilities Development Act, Chapter 17 of Title 11, Utah Code Annotated, 1953, as amended (the "Act"), to issue its revenue bonds for the purpose of financing land, buildings, machinery and equipment suitable for manufacturing, warehousing, commercial and industrial purposes; and WHEREAS, adequate opportunities for industrial employ- ment are not available in the City and in order to provide for industrial development and employment opportunities for the inhabitants of the City, and to add to the welfare and prosperity of the City and its inhabitants, the City proposes to finance a distribution facility consisting of land, building and equip- ment (the "Project") suitable for industrial, commercial and warehousing purposes for Nabisco, Inc., a New Jersey corporation, ("Nabisco, Inc."); and WHEREAS, the Act authorizes the City to issue its revenue bonds for the purpose of financing the Project and all expenses incurred in connection with the authorization, sale and issuance of such bonds, and to secure payment of such bonds as provided in the Act; and WHEREAS, the City finds that it is proper, necessary and desirable to issue its Industrial Development Revenue Bonds (Nabisco, Inc. Project) (the "Bonds"), in the principal amount of $900,000 for the purpose of providing funds to finance the acquisition, construction, and equipping of the Project; and -7- WHEREAS, the issuance of the bonds, and the financing of the Project of Nabisco, Inc. will relieve conditions of unemployment, encourage the increase and development of industry and commerce, increase the tax base within the City and the State of Utah and promote the health, welfare and safety of the citizens of the City and the State of Utah; and WHEREAS, it is necessary to authorize the execution of a Financing Agreement dated as of October 1, 1979 (the "Financing Agreement") between the City and Nabisco, Inc. whereby Nabisco, Inc. will covenant and agree (i) to make payments sufficient to provide for the payment of principal of, premium, if any, and interest on the Bonds, as and when the same become due and payable and to execute its Promissory Note to evidence such obligation (the "Note") and (ii) to make such other payments and satisfy such other obligations as may be required by the Act; and WHEREAS, it is necessary for the City to execute and deliver an Indenture of Trust dated as of October 1, 1979 (the "Indenture") to Zions First National Bank, Salt Lake City, Utah, as trustee for the bondholders (the "Trustee"); and WHEREAS, it is necessary for the City to authorize the sale of the Bonds to Thornton, Farish & Gauntt, Inc. (the "Under- writer"); and WHEREAS, it is necessary for the City to execute and deliver a Bond Purchase Agreement to be dated the date hereof (the "Bond Purchase Agreement") between the City and the Underwriter; and -8- WHEREAS, it is necessary for the City to execute and deliver an Official Statement relating to the sale of the Bonds to be dated the date hereof (the "Official Statement"); and WHEREAS, it is necessary for the City to authorize the execution and delivery of other certificates, documents and papers and the performance of acts necessary or convenient in connection with the issuance and sale of the Bonds and the implementation of this resolution; and WHEREAS, there have been prepared and presented to the Board of Commissioners the following documents: 1. Form of proposed Financing Agreement 2. Form of proposed Indenture 3. Form of Bonds (contained in Indenture) 4. Form of proposed Bond Purchase Agreement 5. Form of proposed Official Statement. NOW, THEREFORE Be It Resolved by the Board of Commissioners of Salt Lake City, Salt Lake County, Utah: Section 1. That there is hereby authorized and directed the execution, issuance and sale of $900,000 Industrial Development Revenue bonds (Nabisco, Inc. Project) of the City, dated as provided in the Indenture, for the purposes expressed in the preamble hereto, in coupon form, registrable as to principal only, or in fully registered form, bearing interest at the rate of six and eighty-five hundredths per cent (6.85%) per annum and maturing on October 1, 2004 and having the form, details and specifications, (including provisions for redemption prior to maturity), set out in the -9- Indenture (as executed). The Bonds shall be executed by the manual or facsimile signature of the Mayor, shall be attested by the manual or facsimile signature of the City Recorder (provided that at least one of said signatures shall be manual) and the seal of the City or a facsimile thereof shall be imprinted or impressed on each Bond. The coupons attached to each coupon Bond shall be executed by the facsimile signature of the Mayor and attested by the facsimile signature of the City Recorder. Section 2. That there is hereby authorized and directed the finanicng of the Project as provided in the Financing Agreement. Section 3. That the Financing Agreement is hereby authorized to be executed and delivered on behalf of the City by the Mayor and attested by the City Recorder and said officers are hereby authorized and directed to cause the Financing Agreement to be accepted and executed by Nabisco, Inc; such Financing Agreement to be in substantially the form before this meeting and hereby approved, or with such changes therein as shall be approved by the officer of the City executing the same, his execution thereof to constitute conclusive evidence of his approval of any and all changes or revisions therein from the form of Financing Agreement hereby approved. The Financing Agreement shall constitute and is hereby made a part of this authorizing resolution and a copy of the Financing Agreement shall be placed in the official records of the Board of Commis- sioners and shall be available for public inspection at the office of the City Recorder. -10- Section 4. That for the purpose of further securing the Bonds and to provide the details thereof and to prescribe the terms and conditions on which the Bonds are to be secured, executed, authenticated, accepted and held, the Indenture is hereby authorized to be executed and delivered on behalf of the City by the Mayor and attested by the City Recorder and said officers are hereby authorized and directed to cause the Indenture to be accepted and executed by the Trustee; such Indenture to be in substantially the form attached hereto and hereby approved, or with such changes therein as shall be approved by the officer of the City executing the same, his execution thereof to constitute conclusive evidence of his approval of any and all changes or revisions therein from the form of Indenture hereby approved. The Indenture shall constitute and is hereby made a part of this authorizing resolution and a copy of the Indenture shall be placed in the official records of the Board of Commissioners and shall be available for public inspection at the office of the City Recorder. Section 5. That the sale of the Bonds to the Under- writer at the price of 98.5%, plus accrued interest from October 1 to the date of delivery, is hereby authorized, approved and confirmed. Section 6. That the Bond Purchase Agreement is hereby authorized to be executed and delivered on behalf of the City by the Mayor or the City Recorder and such officer is hereby authorized and directed to cause the Bond Purchase Agreement to be accepted and executed by the Underwriter; such Bond -11- Purchase Agreement to be in substantially the form before this meeting and hereby approved, or with such changes therein as shall be approved by the officer of the City executing the same, his execution thereto to constitute conclusive evidence of his approval of any and all changes or revisions therein from the form of Bond Purchase Agreement hereby approved. The Bond Purchase Agreement shall constitute and is hereby made a part of this authorizing resolution and a copy of the Bond Purchase Agreement shall be placed in the official records of the Board of Commissioners and shall be available for public inspection at the office of the City Recorder. Section 7. That the Official Statement is hereby authorized to be executed and delivered on behalf of the City by the Mayor or City Recorder and such officer is hereby authorized and directed to cause the Official Statement to be delivered to the Underwriter; such Official Statement to be in substantially the form before this meeting and hereby approved, or with such changes therein as shall be approved by the officer of the City executing the same, his execution thereof to constitute conclusive evidence of his approval of any and all changes or revisions therein from the form of Official Statement hereby approved. The Official Statement shall constitute and is hereby made a part of this authorizing resolution and a copy of the Official Statement shall be placed in the official records of the City Commission and shall be available for public inspection at the office of the City Recorder. -12- Section 8. That the Mayor, the City Recorder and such other officers and officials of the City as may be appropriate are hereby authorized to execute and deliver for and on behalf of the City any and all additional certificates, documents or other papers and do any and all things deemed necessary in order to effect the issuance and sale of the Bonds, and the execution and delivery of the Financing Agreement, the Indenture, the Bond Purchase Agreement and the Official Statement and to implement and carry out all matters herein authorized and the intent and purpose of this resolution. Section 9. That after the Bonds are issued, this resolution shall be and remain irrepealable until the Bonds and the interest thereon shall have been fully paid, cancelled and discharged. Section 10. That the provisions of this resolution are hereby declared to be separable and if any section, phrase or provision shall for any reason be declared to be invalid, such declaration shall not affect the validity of the remainder of the sections, phrases and provisions. Section 11. That all resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. -13- Section 12. That immediately after its adoption this resolution shall be signed by the Mayor and City Recorder, shall be recorded in a book kept for that purpose and shall take immediate effect. Passed and approved October 25 1979. Mayor Attest: 7/(ero.frpt, City Recorder. (SEAL) (Other business not pertinent to the above appears in the minutes of the meeting). Pursuant to motion duly made and carried, the meeting of the Board of Commissioners of Salt L City was adjourned. Mayor Attest: `A, arc City Recorder, -14- STATE OF UTAH COUNTY OF SALT LAKE ) I, Mildred V. Higham , the duly qualified and acting City Recorder of Salt Lake City, Utah, do hereby certify, according to the records of said city in my official possession, that the above and foregoing constitutes a true and correct copy of excerpts from the minutes of the meeting of the Board of Commissioners of Salt Lake City held on October 25, 1979, including a resolution adopted at said meeting, as said minutes and resolution are officially of record in my possession. IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the corporate seal of Salt Lake City, Utah this 25 day of October , 1979. City Recorder _, REMARKS Re,olution No. By Jennings Phillips, Jr. 11 Authorizing the issuance of$900,000 HI Industrial Development Revenue Bonds to Nabisco, Inc. I I, Pre voted to the Ord of Cermrissiener5 I AND PASSED !li jr;1 V lg79 I I; it I I, I r II ._—