The URL can be used to link to this page

01/16/1990 - Minutes PROC DINGS OF THE CITY COUNCIL OF SALT LAKE CI , UTAH TUESDAY, JANUARY 16, 1990 The City Council of Salt Lake City, Utah, met as the Committee of the Whole on Tuesday, January 16, 1990, at 5:00 p.m. in Room 325, City County Building, 451 South State Street. The following Council Members were present: Ronald Whitehead Alan Hardman Roselyn Kirk Wayne Horrocks Tom Godfrey Don Hale Nancy Pace Council Chair Hardman presided at the meeting. Cindy Gust-Jenson, Council indicated that the Council would Executive Director, indicated the have to hold the hearing, Item G- dates for the Mayor-Council re- 1, before they could pass the treat and for the Council-Staff resolution. retreat. She asked the Council to submit any requests for agenda She said that Item G-2 re- items to her and further request- quired a motion as indicated in ed agenda items for the Thursday the staff recommendation. Mayor-Council meeting. Councilmember Horrocks Regarding the evening' s briefed the Council on the fatal agenda, she indicated that Items automobile-pedestrian accident D-2 and D-3 were related to the that occurred this morning in his large water issue with Sandy City. district. He said it occurred on She said LeRoy Hooton, director of California Avenue by Mountain View public utilities, was present for Elementary school and the victim any questions they might have. was a 16-year-old girl struck by a car while crossing the street to She said Items F-1 and F-2 catch her bus. regarding SLACC staffing and Community Development Corporation He advised the Council that funding were on Thursday' s Commit- this area had been cause for tee of the Whole agenda for dis- concern by the residents and a cussion. She asked Councilmembers study had previously been prompted to pull the paperwork from their to determine the need for addi- packets regarding these issues and tional signs, etc. He said the save it for that meeting. study by the transportation de- partment had indicated that addi- Regarding F-3, JTM Foothill tional signs were not warranted, Village Project, she said this however, this incident had caused item was a simple refunding and him to have further concern. He was on the agenda for only a said the Mayor supported addi- technical change in the type of tional evaluation of this area in bonds to be issued. order to mitigate these types of accidents. He said factors such Regarding F-4, resolution for as the I-215 off-ramp and changes airport bonds, she said that in UTA bus routes were not present Airport Authority Director Louis at the time of the previous study. Miller and financial and bond counsel would make a presentation Councilmember Horrocks fur- regarding these bonds. She also ther indicated that he had been 90-17 PROCEINGS OF THE CITY COUNCIL OF SALT LAKE CI', UTAH TUESDAY, JANUARY 16, 1990 contacted by the school principal and other citizens who would be present at tonight's meeting to voice their concerns. Airport Authority Director Louis Miller and financial advisor Cheryl Cook briefed the Council on the Airport Revenue Bonds appear- ing on the agenda. Mr. Miller showed renderings of the proposed layout. He indicated the comple- tion date was set for November 1991. Mr. Miller said the bonds would be used to expand Terminal #2 and the baggage claim area, expand the aircraft control tower to allow for separate control of aircraft movement on the ground, expand the fuel system and mainte- nance hangars, construct a cargo building and enlarge the cargo ramp. He indicated road modifica- tions would be required in con- junction with these additions, the new golf course area, and the sky bridges. Cheryl Cook explained that repayment on these bonds would be through the airport revenues. She said this was a unique bond ar- rangement since it involved not only the airport authority but the carriers as well. She indicated the parameters for the bonds were an actual of $20 million over a 30-year period of time. Richard Scott, bond counsel, confirmed the order in which the Council should take action. He said the public hearing should be held prior to the Council approv- ing the resolution to authorize the issuance of the bonds. He said the final resolution would probably appear on an agenda in February. The briefing session was ad- journed. 90-18 PROCE1.DINGS OF THE CITY COUNCIL OF SALT LAKE CITTC, UTAH TUESDAY, JANUARY 16, 1990 The City Council of Salt Lake City, Utah, met in Regular Session on Tuesday, January 16, 1990, at 6:00 p.m. in Room 315, City Council Chambers, City County Building, 451 South State Street. The following Council Members were present: Ronald Whitehead Alan Hardman Roselyn Kirk Wayne Horrocks Tom Godfrey Don Hale Nancy Pace Mayor Palmer DePaulis, Roger Cutler, City Attorney, Kathryn Marshall, City Recorder, and Lynda Domino, Chief Deputy City Recorder, were present. Council Chair Hardman presided at and conducted the meeting. OPENING CEREMONIES had successfully screened and placed over 50 senior companion #1. The invocation was given pets and several local veterinari- by Reverend France Davis, Calvary ans had provided free medical Baptist Church. services. #2. The Council led the The Mayor said that Mr. Pledge of Allegiance. Robertson routinely checked news- paper want ads to identify lost #3. Councilmember Godfrey pets and he had reunited several moved and Councilmember Kirk owners with their pets. Mr. seconded to approve the minutes of Robertson had also delivered pet the Salt Lake City Council for the food donated by local merchants to regular meeting held Tuesday, nearly 200 low-income pet owners. January 9, 1990, which motion The Mayor said he appreciated Mr. carried, all members voted aye. Robertson' s service time, sense of (M 90-1 ) humor, dedication and creativity. #4. The Mayor and Council Council Chair Hardman read presented a certificate of appre- the certificate and presented it ciation to Bill Robertson of the to Mr. Robertson. Green Thumb Program. #5. Mayor Palmer DePaulis The Mayor said that Mr. presented his 1990 State of the Robertson had served 20 hours each City address. He said at the week for the past year as a volun- beginning of the 1980s the future teer intern with the Salt Lake looked bright - oil was getting City Animal Control Division. He $33.00 per barrel and the building said Mr. Robertson spearheaded a industry was booming. The most new project called the senior pet visible symbol of good times was companion program which placed the construction of the Triad stray animals with senior citizens Center. By April of 1986 oil and handicapped individuals. prices declined to $11 .00 a barrel Physical and psychological boosts and construction activity slowed were the proven results of this and then stopped. Salt Lake City adoption program. Mr. Robertson was left with a 22. 8% vacancy rate 90-19 PROCE INGS OF THE CITY COUNCIL OF SALT LAKE CI, UTAH TUESDAY, JANUARY 16, 1990 in office space. Both Kennecott 3) Streamline government and and Geneva closed in 1985 and 1986 make it more efficient, which was which left more than 6,000 people accomplished by consolidating city jobless. departments, developing a more effective, long-term budget plan- Mayor DePaulis said as he ning effort, and establishing the entered his second year of office one-stop counter. in 1986, the Reagan Administra- tion' s "New Federalism" plan had 4) Revitalize neighborhoods, curtailed assistance to local which resulted in neighborhood governments and federal revenue self-help grants, training pro- sharing was eliminated. This cost grams for neighborhood council Salt Lake City more than $4. 5 members, and a citizen' s guide to million dollars annually. He said city hall. for three years, from 1986 through 1989, the annual budget message 5 ) Leadership was an issue was sobering, services and person- which resulted in bringing togeth- nel positions were cut, and city er leaders from all sectors of the employees went without cost of community to discuss and help living raises. The city experi- resolve problems. enced heavy flooding in 1983 and 1984 and in 1988 the L.A. Times 6 ) Revitalization of the described the city in a negative downtown area led to the five-day light. R/UDAT program where nationally known city planners and architects He said although this was not immersed themselves in the prob- a time of robust activity, it was lems and potential of the downtown a time for careful planning. On area. The result was a 62-page December 5, 1986, the Mayor said study which the city continued to he launched the community-based use in addressing downtown chal- strategic planning program called lenges. "Salt Lake City Tomorrow. " In January they met with citizens The Mayor said it was time to from all sectors of the community look again at the future. He said and at the end of the nine-month this year he was calling for the period, they had a clearly defined renewal of the "Salt Lake City six-point plan. The critical Tomorrow" program in order to look issues delineated from that pro- at past and current issues, and to cess and some of the results were address new issues and ways for the following: resolving them. The new, diffi- cult, and complex issues included 1 ) Solidify county-wide protecting the environment and economic development efforts, quality of the air, increasing which resulted in the formation car pooling, making the bus system of the Utah Economic Development more convenient, promoting bicy- Corporation. cling, and looking at staggering work hours. He said ultimately 2 ) Promote "human develop- they must implement a light rail ment" , which promoted volunteerism system. He reaffirmed his commit- and helped those in need as signi- ment to recycling programs and to fied by the completion of the educating the public as to how to homeless shelter. waste less and preserve more. 90-20 PROCE INGS OF THE CITY COUNCIL OF SALT LAKE CI UTAH TUESDAY, JANUARY 16, 1990 The Mayor said other issues the future required clear thinking included protecting the community and a well laid out plan of ac- from escalating gang- and drug- tion. He said renewing the "Salt related crime, and reexamining Lake City Tomorrow" program would public safety needs. He said they provide the necessary road map. needed drug prevention courses in (G 90-4) schools and work places, and effective drug rehabilitation pro- COMMENTS grams. He said housing was anoth- er important issue and the city #1. Patricia Standing, 1635 needed safe, habitable housing South 1300 West, PTA president of for neighborhoods and needed to Mountain View school ( 1250 West solve the ongoing landlord-tenant California Avenue) , said an East controversy. He said the Salt High student was killed by a car Lake City Housing policy would today in their neighborhood. She provide guidelines in this area. said the parents in her neighbor- hood had been concerned since the The Mayor said Salt Lake City I-215 California Avenue exit was needed an identity which he main- opened because there had been dra- tained was achieved through arts, matic changes in the traffic education and athletics. He said patterns through the neighborhood. the city would continue to support the arts community and its pro- She referred to a letter grams. In regards to education he which she had sent to the city said Salt Lake City could continue transportation engineer outlining to act as a liaison between the the neighborhood' s concerns. She school system and the private summarized their main concerns sector and could continue to work which were the following: Heavy toward drug-free schools. He said traffic moving east on California the police department had begun Avenue from I-215 prior to 8:00 the "D.A.R.E. " program to talk a.m. ; traffic approaching the with students about the dangers of school from the west with no drug use and the city was also signals or warning devices indi- among the organizers of the in- cating the school zone; an eleva- school scouting program. He said tion in the street approximately he wanted to foster greater lines one block west of the school which of communication between the obscures the view of the school University of Utah and the city. and causes traffic to travel down hill at an increased speed. In the area of athletics, the Mayor said that as the United She said students continued States' representative in the to cross California Avenue west of international winter olympic the school at Stewart and Montgom- bidding process, Salt Lake City ery Streets rather than with the had been given the opportunity to traffic guard at Navajo, since represent this community and the they would have to walk two blocks state as well as act as a role out of their way. She said the model for the nation and the neighborhood had requested a world. He said Salt Lake City was traffic survey, which was complet- stepping out into the world in the ed, but now because of this morn- decade of the 90s as well as ing's accident they were request- inviting the world in. ing that this issue be studied again. In regards to the acci- In conclusion the mayor said dent, she said she understood that 90-21 PROCE INGS OF THE CITY COUNCIL OF SALT LAKE CI1P, UTAH TUESDAY, JANUARY 16, 1990 the student was in the cross walk tion, which was completed, and had when she was hit. requested that the safety zone be extended the full width of school She said the neighborhood was property so children could cross full of children and California safely at both the east and west Avenue was a busy street. She ends of the school. She said they said they would appreciate any also requested a stop light at one further help on this matter and critical place. At the conclu- requested action as soon as possi- sion of the study she said they ble. were told that their situation did not warrant a stop light but #2. Max Packineau, 130 South they would have an extension of 800 East, said his children at- the safety zone by July 14, 1989. tended Glendale Intermediate and She said as of today no action Parkview Elementary schools. He had been taken and the city shops said that prior to the California had not received an order for Avenue exit opening, the city signs. traffic engineer had informed the neighborhood that they would see She said the school was a increased traffic volume and gathering place for children, speed. Mr. Packineau said this whether or not it was open, and was when the neighborhood took the there were children on the play- initiative through the school ground on Saturdays and during the community councils to take action. summer. She said the flashing lights only operated certain He said they contacted times during the school day. She Councilmember Horrocks who helped said the accident this morning them get in touch with the traffic occurred during a period when the engineer and traffic enforcement. flashing lights were not opera- And eventhough traffic enforcement tive. had been issuing tickets, people were still speeding through this She said that officially from area. He said the neighborhood the traffic engineer's point of had originally wanted a traffic view, their situation did not meet light in order to prevent someone all eleven warrants for a light from getting killed by a car, but she said they did meet at which occurred today. He asked least one and maybe more. She the Council to give this situation appealed to the City Council and deep consideration. asked for their support in re- questing a signal light. She said #3. Nancy Larson, principal she didn't think the traffic of Mountainview Elementary school, engineer's recommendations would said that several months ago the be adequate. school community councils initiat- ed a major effort to increase the She also asked for the Coun- safety measures on California cil' s help in expediting the Avenue. She said the school recommendations made by the traf- community councils had been coop- fic engineer, one of which was erative in following the correct increased lighting on the street. channels for pursuing their con- She said she thought adequate cerns. lighting might have prevented the accident this morning and said she She said they requested a was certain that a stop light full study of this traffic situa- would have prevented it. She also 90-22 PROCEk INGS OF THE CITY COUNCIL OF SALT LAKE CI, UTAH TUESDAY, JANUARY 16, 1990 asked that the neighborhood coun- cross walk. She said the lighting cils be better informed about in the area was extremely poor and projects such as California Ave- asked the Council to take immedi- nue. She said she thought there ate action. needed to be community input on these types of decisions and she #9. Glenda Gaudig, 1510 said provisions should have been Navajo, said that last August she in place before the traffic in- talked to Tim Harpst, traffic creased. engineer, about the opening of the off ramp. She said she expressed #4. Delores Talanoa, 1140 her concerns and said he recom- South Montgomery, referred to the mended that the West Salt Lake on-ramp in this area going south Community Council write a letter on I-15 which was presently to him, which they did. She said closed. She asked if anyone had they received no response and said anticipated how the traffic flow the principal of Glendale Interme- would be affected once this ramp diate School wrote a letter and was reopened. also received no response. #5. Brenda Hoskins, chair of She said in the years she had the Mountainview School Community attended the community council Council, implored the Mayor to meetings no one had explained that assist the neighborhood and said California Avenue would become a Councilmember Horrocks had good major thoroughfare. She asked the ideas regarding this issue. Council to do whatever was neces- sary so that no one else in the #6. Craig Standing, 1635 community would get killed on this South 1300 West, said that several street. weeks ago a young boy was killed on 700 West and 1300 South, which Councilmember Horrocks said was essentially California Avenue. this afternoon he talked with the Mayor and Joe Anderson, the direc- #7. Cindy Mueller, 852 West tor of public works. He said the 700 South, said she had children Mayor assured him that he would who attended school at Glendale give his fullest cooperation in and Mountainview schools. She getting a light and completing a said she didn' t think one traffic study of this situation. He said light could be so expensive that the police department had been children had to lose their lives. supportive in trying to get the big trucks off the street and slow #8. Gloria Udy, 1318 Mont- down traffic. He reiterated that gomery, said there was an incline numerous tickets had been written on California Avenue and people but to no avail. He also said entering the street could not see Emery Street was another concern traffic approaching from the west. that they wanted to address. She said the transportation de- partment had told the neighborhood He said the City Council and that there was nothing they could Mayor were giving their full do about this situation. She was support and would find the way to also concerned that children had solve this problem. He said they to walk two blocks past the school would do everything within their in order to cross at the cross power to make sure there wouldn't walk and said the teenagers in the be future accidents. neighborhoods did not use the 90-23 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CI I, UTAH TUESDAY, JANUARY 16, 1990 Mayor DePaulis thanked every- of 1990 authorizing the execution one who attended the meeting and of an interlocal cooperation said he was organizing a team agreement between the Salt Lake immediately to look at a compre- County Water Conservancy District hensive plan to deal with all the and the Metropolitan Water Dis- safety issues on this street. trict of Salt Lake City for the He said this would have high sale of surplus water and exchange priority and they would move of capacities. quickly. He said they would (C 90-9) coordinate this effort step by step with the neighborhoods and #3. RE: Adopting Resolution 7 community councils. He assured of 1990 authorizing the execution the citizens that the city did not of an interlocal cooperation want another accident to happen agreement between Salt Lake City and they wanted to make this Corporation and Sandy City Corpo- street as safe as possible. ration regarding Little Cottonwood and Richards Ditch Wells and the Councilmember Whitehead said sale of surplus water. this same situation existed on 700 (C 90-8) North off I-215. He said between Redwood Road and 1-215 there was NEW COUNCIL BUSINESS an elementary school and he asked that the city also study this #1. RE: The appointment of area. Dennis M. Sargent to the position of Salt Lake City Fire Chief. Councilmember Kirk said the Foothill area needed to be studied ACTION: Councilmember Godfrey and suggested that the Mayor moved and Councilmember Kirk involve UDOT in his efforts. seconded to approve the appoint- ment, which motion carried, all Mayor DePaulis said he wanted members voted aye. to prevent problems and asked the (I 90-10) Councilmembers to give him a list of particular locations they UNFINISHED COUNCIL BUSINESS wanted the city to study. #1. RE: The release of CONSENT AGENDA $50,000 allocated for Salt Lake Association of Community Council's Councilmember Whitehead staffing (SLACC) . moved and Councilmember Godfrey seconded to approve the consent ACTION: Without objection agenda, which motion carried, all Councilmember Hardman referred members voted aye. this to the Committee of the Whole. #1. RE: Adopting Ordinance 4 (T 90-2) of 1990 amending Chapter 12. 56, Salt Lake City Code, by amending #2. RE: The release of 15th Sections 12. 56. 120 and 12. 56. 130 Year Community Development Block and by enacting a new Section Grant funds to the Community 12. 56. 135 relating to handicapped Development Corporation. parking. (0 90-4) ACTION: Without objection Councilmember Hardman referred #2. RE: Adopting Resolution 6 90-24 PROCE INGS OF THE CITY COUNCIL OF SALT LAKE Cl , UTAH TUESDAY, JANUARY 16, 1990 this to the Committee of the Petition No. 400-756 by Ricks and Whole. Brown Architects. (T 90-3) ACTION: Councilmember Kirk #3. RE: A resolution autho- moved and Councilmember Horrocks rizing the issuance of Salt Lake seconded to adopt Ordinance 5 of City, Utah, Industrial Development 1990, which motion carried, all Revenue Refunding Bonds, Series members voted aye. 1990 (JTM Foothill Village (P 89-379) Project) in an aggregate principal amount not to exceed $7,410,000; PUBLIC HEARING authorizing the execution and delivery of a financing agreement, #1. RE: A public hearing at an indenture, a tax agreement, a 6:00 p.m. to receive comment bond purchase agreement, an offi- concerning the adoption of a cial statement and such bonds and resolution authorizing the issu- closing documents in connection ance and confirming the sale of therewith. not more than $35,000,000 aggre- gate principal amount of Airport ACTION: Councilmember Godfrey Revenue Bonds, Series 1990, of moved and Councilmember Hale Salt Lake City, Salt Lake County, seconded to adopt Resolution 5 of Utah, fixing the maximum aggregate 1990, which motion carried, all principal amount of the bonds, the members voted aye. maximum number of years over which (Q 84-18) the bonds may mature, the maximum interest rate which the bonds may #4. RE: A resolution autho- bear and the maximum discount from rizing the issuance and confirming par at which the bonds may be the sale of not more than $35, - sold; authorizing publication of a 000,000 aggregate principal notice of bonds to be issued; and amount of Airport Revenue Bonds, related matters. Series 1990, of Salt Lake City, Salt Lake County, Utah, fixing the ACTION: Councilmember Godfrey maximum aggregate principal amount moved and Councilmember Kirk of the bonds, the maximum number seconded to close the public of years over which the bonds may hearing, which motion carried, all mature, the maximum interest rate members voted aye. which the bonds may bear and the maximum discount from par at which DISCUSSION: Louis Miller, the bonds may be sold; authorizing director of airports, said the publication of a notice of bonds cost of the total construction to be issued; and related matters. program would be about $25,900, - 000. He said $6.2 million would ACTION: Councilmember Godfrey come from federal grants, $705,000 moved and Councilmember Kirk from airport revenues, and $19, - seconded to adopt Resolution 4 of 000, 000 from the bond proceeds. 1990, which motion carried, all members voted aye. He said the construction (Q 89-8) projects consisted of the follow- ing: Expanding Terminal Unit II, #5. RE: An ordinance clos- expanding a fuel farm for the ing a portion and vacating a airlines hydrant jet fuel system, portion of an alley adjacent to constructing moving sidewalks in 2185 South 900 East pursuant to the pedestrian bridges connecting 90-25 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, JANUARY 16, 1990 the parking structure and the engineering department, said the terminal building, constructing a written protest period ended at maintenance hangar for Sky West 5:00 p.m. today. He said they Airlines, constructing a cargo received one written protest on building for Emery Air Freight, the project which amounted to expanding the cargo aircraft ramp approximately 1% of the assessable parking area, remodeling and frontage. expanding the ground transporta- tion area, making various improve- Councilmember Horrocks asked ments to the taxiway on the air how many property owners were in field, installing landscaping and favor of this project. erosion control for the cross bar and terminal entry road system, Mr. Naser said there was constructing a terminal road approximately 7, 500 lineal feet of realignment system, and installing assessable footage and 80 feet baggage tunnels from the new protested. So the majority of the parking structure into the termi- property owners were in favor of nal buildings. the project. B.T. Price, Salt Lake City No one from the audience resident, said he thought the addressed this issue. airport had already expanded too (Q 89-9) much. (Q 89-8) The meeting adjourned at 7:25 #2. RE: A public hearing at p.m. 6:20 p.m. to receive public com- ment concerning the city' s inten- tion to construct improvements for (, 400 to 500 South connector includ- Counci Chair ing curb and gutters, sidewalks, asphalt pavement, driveways and miscellaneous work; to create or, � Special Improvement District #38- C' R- .order 758 to defray the cost and expens- es of a portion of said improve- ment district by special assess- ments levied against the property benefited by such improvements. ACTION: Councilmember White- head moved and Councilmember Horrocks seconded to closed the public hearing, which motion carried, all members voted aye. Councilmember Whitehead moved and Councilmember Godfrey seconded to refer this to the City Engineer for tabulation and recommendation, which motion carried, all members voted aye. DISCUSSION: John Naser, 90-26 PROCEEDINGS OF i'HE CITY COUNCIL OF SALT LA.r. CITY, UTAH TUESDAY, JANUARY 9, 1990 The City Council of Salt Lake City, Utah, met as the Committee of the Whole on Tuesday, January 9, 1990, at 5:00 p.m. in Room 325, City County Building, 451 South State Street. The following Council Members were present: Ronald Whitehead Alan Hardman Roselyn Kirk Wayne Horrocks Tom Godfrey Don Hale Nancy Pace Council Chair Hardman presided at the meeting. Mayor DePaulis introduced the er on the Board but the Adminis- new Fire Chief, Dennis Sargent, to tration may elect to have him the members of the Council and replace Mr. Whitehead. This would requested an individual meeting allow Mr. Thatcher to continue to with each of them to discuss the serve and ensure that the Board appointment of Mr. Sargent. had a quorum. Members who were unable to meet with Mr. Sargent after the coun- Item E-2, Handicapped Ordi- cil meeting, indicated they would nance Change, was a routine issue let the Council Executive Director and so no staff recommendation was know what times they could meet provided. and this information would be related to the Mayor' s office to Item E-3, Special Improvement schedule the individual meetings. District Notice of intention, was the first step in the bonding Cindy Gust-Jenson, Council process. Max Peterson, city Executive Director, reviewed the engineer, briefed the Council on Council ' s engagement calendar and the resolution and answered their said the reservations had been questions. Councilmember Kirk made for the Day at the Legisla- asked if the owners of the proper- ture meeting. She also said the ty to be affected approved of the reservation form for the Annual resolution to which Mr. Peterson Congressional City Conference replied that the owners on the needed to be completed by January north side had but the others had 11 . not. Ms. Gust-Jenson then reviewed The Salt Palace Restoration the evening' s agenda. issue was brought up. Council- members Horrocks and Kirk attended Item D-1 was pulled from the a meeting where the tax funding agenda because Councilmember sources were discussed and they Horrocks said it contained wrong said the committee members had not information about the parameters come to an agreement on the fund- of land, which were bigger than he ing. Councilmembers were provided had requested. with information sheets distribut- ed at the meeting. On Item D-6, appointment of Eldon Marshall to the Mosquito The Council discussed briefly Abatement Board, Ms. Gust-Jenson the items reported on by Council- said the paperwork indicated Mr. members Horrocks and Kirk and by Marshall would replace Mr. Thatch- Lee King, Council Staff Member. 90-12 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAnE CITY, UTAH TUESDAY, JANUARY 9, 1990 Beyond the State, County and City participation, they indicated revenue sources discussed by the committee included a tax on rental cars, a restaurant tax, a sales tax growth rebate, a hotel tax, a tax on liquor profits (providing the proposed liquor law passed) , and others. The Councilmembers indicated the hotel/motel industry had expressed strong opposition to additional room tax. A bill was being prepared for presentation to the Legislature. Councilmember Hardman pointed out that the Council had not officially consid- ered the $15 million dollar City commitment. Members Horrocks and Kirk indicated this was made clear at the meeting, as was the fact that the City could not partici- pate in funding the Fine Arts Facilities beyond the time frame agreed upon originally. All Councilmembers requested notifica- tion of all Salt Palace Restora- tion meetings in the future. Ms. Gust-Jenson said that Steven Allred, the city's Legisla- tive representative, would brief the Council on Thursday about the progress on legislation which related to the City. The briefing session ad- journed. 90-13 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, JANUARY 9, 1990 The City Council of Salt Lake City, Utah, met in Regular Session on Tuesday, January 9, 1990, at 6 :00 p.m. in Room 315, City Council Chambers, City County Building, 451 South State Street. The following Council Members were present: Ronald Whitehead Alan Hardman Roselyn Kirk Wayne Horrocks Tom Godfrey Don Hale Nancy Pace Mayor Palmer DePaulis, Roger Cutler, City Attorney, Kathryn Marshall, City Recorder, and Lynda Domino, Chief Deputy City Recorder, were present. Council Chair Hardman presided at and conducted the meeting. OPENING CEREMONIES He said those owners had the water rights and were not involved in #1. The invocation was given any exchange agreements. The by Police Chaplain Gil Farnsworth. Mayor said Salt Lake City policy had been to try and acquire any #2. The Council led the water rights. He said he had Pledge of Allegiance. asked Mr. Hooton to investigate this matter. #3. Councilmember Godfrey moved and Councilmember Kirk CONSENT AGENDA seconded to approve the minutes of the Salt Lake City Council for the Councilmember Godfrey moved Oath of Office Ceremony and the and Councilmember Kirk seconded regular meeting which were held to approve the consent agenda Tuesday, January 2, 1990, which except for Item #1 which was motion carried, all members voted pulled, which motion carried, all aye. members voted aye. (M 90-1) #1. RE: Setting a date to COMMENTS hold a public hearing on February 6, 1990, at 6:20 p.m. to receive #1. B.T. Price, city resi- public comment and consider adopt- dent, said there were six deep ing an ordinance rezoning the wells within the area of 400 South property between 800 West and 640 and South Temple and asked if the West and 700 South and 1300 South city was using the water from from an Industrial "M-2" to an them. Industrial "M-lA" classification. Councilmember Whitehead asked ACTION: The Council pulled who owned the wells. Mayor this item from the agenda. DePaulis said Salt Lake City owned (P 89-234) one of the wells and he said LeRoy Hooton, director of public utili- #2. RE: Setting a date to ties, said the city used the hold a public hearing on February water from it. He said the other 6, 1990, at 6:30 p.m. to receive five wells were owned privately. public comment and consider adopt- 90-14 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, JANUARY 9, 1990 ing an ordinance rezoning the to handicapped parking. property between the Jordan River and 700 West and 900 South to ACTION: Without objection California Avenue from "R-4" and Councilmember Hardman referred "R-2" to "R-1" and "R-lA" classi- this ordinance to the consent fications. agenda. (P 89-235) (0 90-4) #3. RE: Setting a date to #3. RE: Special Improvement hold a public hearing on February District 38-864 - Central Business 6, 1990 at 6:40 p.m. to receive District. public comment concerning techni- cal amendments to zoning ordinanc- ACTION: Councilmember Godfrey es to correct inaccuracies, omis- moved and Councilmember Whitehead sions and improve the readability seconded to suspend the rules and of the zoning ordinances, prior to on first reading adopt Resolution reprinting. 3 of 1990 declaring the intention (0 90-3) of the City Council of Salt Lake City, Salt Lake County, State of #4. RE: Approving the Utah, to construct improvements in reappointment of Paul B. Keyser to the Central Business District the Public Utilities Advisory including curb, gutter, sidewalks Committee. with brick pavers, driveways, ( I 90-1) drainage, trees, planters, tie-in paving, irrigation, vault abandon- #5. RE: Approving the ment or rebuilding, electrical reappointment of Vaughn B. Wonna- systems, street lighting operation cott to the Public Utilities and maintenance of street lighting Advisory Committee. for one year, and drains and all (I 90-1 ) other miscellaneous work necessary to complete the improvements; to #6. RE: Approving the create Salt Lake City, Utah Spe- appointment of Eldon G. Marshall cial Improvement District No. 38- to the Mosquito Abatement Dis- 864; to defray the cost and ex- trict. penses of a portion of said im- (I 90-8) provement district by special assessments to be levied against NEW COUNCIL BUSINESS the property benefited by such improvements; to provide notice of #1. RE: The appointment of intention to authorize such im- Mark Hafey to the Board of Adjust- provements and to fix a time and ment. place for protests against such improvements or the creation of ACTION: Without objection said district; to authorize adver- Councilmember Hardman referred tisement of construction bids and this appointment to the Committee related matters, which motion of the Whole. carried, all members voted aye. (I 90-3) (Q 90-1 ) #2. RE: An ordinance amend- UNFINISHED COUNCIL BUSINESS ing Chapter 12. 56, Salt Lake City Code, by amending Sections 12. 56. - #1. RE: An ordinance amend- 120 and 12. 56. 130 and by enacting ing Sections 17. 16.300, 17. 16. 120 a new Section 12. 56. 135 relating and 17 .48.050, and enacting a new 90-15 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, JANUARY 9, 1990 Section 17. 16.345 of the Salt Lake City Code, relating to water and sewer main connections. ACTION: Councilmember Godfrey moved and Councilmember Kirk seconded to set a public hearing for February 13, 1990, at 6:20 p.m. , which motion carried, all members voted aye. (0 90-2) The meeting adjourned at 6: 15 p.m. COUNCIL CHAIR CITY RECORDER 90-16 r� wOli1Q, - 10)1(.W Le ‘ 061A (2) A (rgpout 'r ) SALT LAKE CITY COUNCIL AGENDA CITY COUNCIL CHAMBER 11/(1C ROOM 315 CITY AND COUNTY BUILDINGL.,0) 451 SOUTH STATE STREET pn1 .- Add ? Tuesday, January 16, 1990 , A n .f-) fp s 6:00 p.m. I' irk 1 Ir ? A. BRIEFING SESSION: 5:00 - 5:55 p.m. , Room 325 City and County Building, 451 South State. 1 OJT r �, � � _I� 1 . Report of the Executive Director. q-) µ�j� B. OPENING CEREMONIES: YUW� (�r,UUI' 1 . Invocation. 2. Pledge of Allegiance. 3. Approval of the Minutes. 4. The Mayor and Council will present a certificate of appreciation to Bill Robertson of the Green Thumb Program. 5. Mayor Palmer DePaulis will present his 1990 State of the City Address. C. COMMENTS: 1 . Questions to the Mayor from the City Council. 2. Citizen Comments to the Council. D. CONSENT: 1 . Ordinance Amendment : Handicapped Parking Consider adopting an ordinance amending Chapter 12.56, Salt Lake City Code, by amending sections 12.56. 120 and 12.56. 130 and by enacting a new section 12.56. 135 relating to handicapped parking. (0 90-4) Staff recommendation: Adopt. `IInterlocal Agreement: Surplus Water and Capacity Exchange Consider adopting a resolution authorizing the execution of an Interlocal Cooperation Agreement between Salt Lake County Water Conservancy District and the Metropolitan Water District of Salt Lake City for the sale of surplus water and exchange of capacities. (C 90-9) Staff recommendation: Adopt. Qi) Interlocal Agreement: Little Cottonwood and Richards Ditch Wells and Sale of Surplus Water Consider adopting a resolution authorizing the execution of an Interlocal Cooperation Agreement between Salt Lake City Corporation and Sandy City Corporation regarding Little Cottonwood and Richards Ditch Wells and the sale of surplus water. (C 90-8) Staff recommendation: Adopt. E. NEW COUNCIL BUSINESS: 1 . Ratification of Appointment: Fire Department Chief Consider adopting a motion approving the appointment of Dennis M. Sargent to the position of Salt Lake City Fire Chief. (I 90-11) Staff recommendation: Adopt. F. UNFINISHED COUNCIL BUSINESS: SLACC Staffing Consider adopting a motion supporting the release of $50,000 allocated for Salt Lake Association of Community Council's Staffing. (T 90-2) 41)' Staff recommendation: Refer to Committee of the Whole. orivoo 2. Community Development Corporation Funding ! Consider adopting a motion supporting the release of 15th year Community Development Block Grant funds to the Community Development Corporation. (T 90-3) Staff recommendation: Refer to Committee of the Whole. 3. Resolution: JTM Foothill Village Project Consider adopting a resolution authorizing the issuance of Salt Lake City, Utah Industrial Development Revenue Refunding Bonds, Series 1990 (JTM Foothill Village Project) in an aggregate principal amount not to exceed $7,410,000; authorizing the execution and delivery of a financing agreement, an indenture, a tax agreement, a bond purchaE "ficial statement and such bonds and closing document (� �� Lerewith. (Q 84-18) spA--A- Staff recommendation: Adopt. 1 ky...)AALy c% Resolution: Utah Airport Revenue Bonds, Series 1990 Consider adopting a resolution authorizing the issuance and confirming the sale of not more than $35,000,000 aggregate principal amount of Airport Revenue Bonds, Series 1990, of Salt Lake City, Salt Lake County, Utah, fixing the maximum aggregate principal amount of the bonds, the maximum number of years over which the bonds may mature, the maximum interest rate which the bonds may bear and the maximum discount from par at which the bonds may be sold; authorizing publication of a notice of bonds to be issued; and related matters. (Q 90-2) Staff recommendation: Adopt. 5. Ordinance: Ricks and Brown Architects Petition No. 400-756 Consider adopting an ordinance closing a portion and vacating a portion of an alley adjacent to 2185 South 900 East pursuant to Petition No. 400-756. (P 89-379) Staff recommendation: Adopt. G. PUBLIC HEARINGS: 1 ,)/ 6:00 p.m. Utah Airport Revenue Bonds, Series 1990 V Receive public comment concerning adopting a resolution authorizing the issuance and confirming the sale of not more than $35,000,000 aggregate principal amount of Airport Revenue Bonds, Series 1990, of Salt Lake City, Salt Lake County, Utah, fixing the maximum aggregate principal amount of the bonds, the maximum number of years over which the bonds may mature, the maximum interest rate which the bonds may bear and the maximum discount from par at which the bonds may be sold; authorizing publication of a notice of bonds to be issued; and related matters. (Q 90-2) Staff recommendation: Close hearing. 2 6c20 p.m. Resolution of Intent SID #38-758 for 400-500 South Connector Receive public comment concerning the City's intention to construct improvements for 400 to 500 South connector including curb and gutters, sidewalks, asphalt pavement, driveways and miscellaneous work; to create Special Improvement District #38-758 to defray the cost and expenses of a portion of said improvement district by special assessments levied against the property benefited by such improvements. II i-Kt(Q 89-9) C O ,c Polo IL 'rLStaff recommendation: Refer to City Engineerig �'or�abulation and recommendation. H. ADJOURNMENT. "" FINAL ACTION MAY BE TAKEN AND/OR ORDINANCES ADOPTED CONCERNING ANY ITEM ON THIS AGENDA DATED: l BY: CITY RE RD(R STATE OF UTAH COUNTY OF SALT LAKE ) ss . On the 12th day of January, 1990 I personally delivered a copy of the foregoing notice to the Mayor and City Council and posted copies of the same in conspicuous view, at the following times and locations within the City and County Building, 451 South State Street , Salt Lake City, Utah: 1 . At 5:00 p.m. in the City Recorder's Office, Room 415; and 2. At 5:00 p.m. in the Newsroom, Room 343. /-1 CI Y ECO Subscribed and sworn to before me this 12th day of January, 1990. i 6 C> Notary Pu lic resi i he State of Utah MY mIA4ILI t es: ——, ltrogr I ^. �=. • 451 80.ews StArn 415 I ,` � ox My APPROVAL: EXECU VE DIR CTOR t 443V r r �21 PALMER DEPAULIS w,. JI ig/c tl'l � �� ...,� f MAYOR OFFICE OF THE MAYOR;. CITY'AND CdUNTY BUILDING ti . 451 SOUTH STATE STREET,'ROOM 306 SALT LAKE CITY,`UTAH 84111 TELEPHONE 535-7704 STATE OF THE CITY ADDRESS MAYOR PALMER DEPAULIS JANUARY 16, 1990 MR. CHAIRMAN, LADIES AND GENTLEMEN OF THE COUNCIL . I APPRECIATE THE OPPORTUNITY TO SPEAK WITH YOU THIS EVENING ABOUT THE STATE OF OUR CITY . YESTERDAY WE CELEBRATED THE BIRTHDAY OF A GREAT AMERICAN , MARTIN LUTHER KING JR. WE REMEMBERED THE SIGNIFICANT CONTRIBUTION HE MADE TOWARD THE NONVIOLENT PURSUIT OF EQUALITY . WE ALSO RECALLED HIS SENSE OF VISION AND HIS ABILITY TO MOVE PEOPLE OF ALL RACES AND BACKGROUNDS TO ACHIEVE HIS GREAT DREAMS. THINKING ABOUT HIS CONTRIBUTION TO HUMAN KIND SHOULD GIVE ALL OF US PAUSE AS WE THINK ABOUT OUR CITY ' S FUTURE . OVER THE PAST SIXTEEN DAYS , AS OFTEN AS I HAVE BEEN GREETED BY THE WORDS "HAPPY NEW YEAR, " I ALSO HAVE BEEN WISHED A "HAPPY NEW DECADE . " INSTEAD OF ONE YEAR , WE CAN LOOK AHEAD AT TEN IN WHICH TO CREATE A FUTURE FOR OUR CITY . -1- IT IS AN EXCITING CONCEPT, EVEN IF , IN REALITY , THE FIRST OF JANUARY , 1990 , WAS SIMPLY ONE MORE DAY FOLLOWING ANOTHER. SO TODAY , I WISH YOU AND OUR CITIZENS THE BEST FOR THE NEW YEAR AND THE NEW DECADE . I ALSO WANT TO ADD MY CONGRATULATIONS TO YOU BECAUSE 1990 ALSO MARKS THE TENTH ANNIVERSARY OF THE CITY COUNCIL FORM OF GOVERNMENT. I BEGIN MY ADDRESS THIS EVENING WITH A REVIEW NOT JUST OF THE PAST YEAR BUT OF THE PAST TEN YEARS AND TO LOOK AT WHAT THE NEXT TEN MAY HOLD . AS WE TURNED THE PAGE INITIATING THE DECADE OF THE 80S , THE FUTURE LOOKED BRIGHT . OIL WAS GETTING A PHENOMENAL 33 DOLLARS A BARREL. THE BUILDING INDUSTRY WAS BOOMING. YOU MAY REMEMBER--IT SEEMS SO LONG AGO-- CONSTRUCTION CRANES PERCHED THROUGHOUT THE DOWNTOWN AREA. EVEN THE WEATHER WAS COOPERATING , WITH OUR FOUR SEASONS ACTING IN SOMEWHAT TRADITIONAL FASHION . PERHAPS THE MOST VISIBLE SYMBOL OF GOOD TIMES WAS THE MUCH HERALDED CONSTRUCTION OF A GRAND COMPLEX OF BUILDINGS , KNOWN SIMPLY AS THE TRIAD CENTER. THE KHASSHOGI ' S PRESENCE IN OUR COMMUNITY GAVE US A GLIMPSE OF A GLITTERY LIFESTYLE WHERE PRIVILEGE WAS COMMONPLACE. -2- THINGS LOOKED GOOD . THE TRIAD GROUNDBREAKING CEREMONY , ATTENDED BY DIGNITARIES THROUGHOUT THE COMMUNITY , WAS HELD JUNE 1 , 1982 . BY APRIL 1--THE IRONY OF THE DAY IS NOT LOST UPON US--THE PUBLIC BECAME AWARE THAT THE TRIAD HOUSE OF CARDS WAS FALLING ; THAT INDEED , IT HAD BEEN FALLING FOR QUITE SOME TIME. APRIL OF ' 86 ALSO SAW OIL PRICES DECLINE SHARPLY TO JUST 11 DOLLARS A BARREL . THE DECLINE FORESHADOWED OUR OWN. IN SALT LAKE CITY , THE ECONOMIC BARREL WAS EMPTY . CONSTRUCTION ACTIVITY SLOWED AND THEN STOPPED AS FINANCIAL BACKING FELL AWAY. WE WERE LEFT WITH LARGELY EMPTY BUILDINGS EVERYWHERE . IN 1986 , AT ITS WORST, THE VACANCY RATE FOR OFFICE SPACE IN THE GREATER DOWNTOWN WAS 22 .8%. TO PUT IN PERSPECTIVE JUST HOW BAD THINGS WERE , AN ACCEPTABLE VACANCY RATE IS BETWEEN 10% AND 13% . BOTH KENNECOTT COPPER AND GENEVA STEEL , TWO OF THE STATE ' S MAJOR EMPLOYERS , CLOSED IN 1985 AND 1986 , RESPECTIVELY. WHEN THE DUST SETTLED , MORE THAN 6000 PEOPLE WERE LEFT WITHOUT JOBS. THERE WAS MORE . AS I ENTERED INTO MY SECOND YEAR OF OFFICE , IN 1986 , THE REAGAN ADMINISTRATION ' S "NEW FEDERALISM " PLAN WAS IN HIGH GEAR. ALL FEDERAL ASSISTANCE TO LOCAL GOVERNMENTS WAS CURTAILED AND FEDERAL REVENUE SHARING WAS ELIMINATED . IN OUR CASE , THAT TRANSLATED TO THE LOSS OF MORE THAN 4. 5 MILLION DOLLARS ANNUALLY . -3- FOR THREE YEARS IN A ROW, FROM 1986 THROUGH 1988 , THE ANNUAL BUDGET MESSAGE WAS DIPLOMATICALLY DESCRIBED AS "SOBERING . " SERVICES AND PERSONNEL POSITIONS WERE CUT. OUR CITY EMPLOYEES WENT WITHOUT COST OF LIVING RAISES. IF ALL THIS WEREN ' T ENOUGH , EVEN MOTHER NATURE LAID HER HEAVY HAND ON OUR SHOULDER WITH THE INFAMOUS ' 83 AND ' 84 FLOODS , TURNING DOWNTOWN ' S STATE STREET INTO OUR OWN VERSION OF THE CITY OF VENICE. WE FELT BESIEGED. AND WE WERE . TOWARD THE END OF THE DECADE , WE WERE SOUNDING AT THE SAME TIME APOLOGETIC AND DEFENSIVE . IN 1988 , WHEN THE L . A. TIMES DESCRIBED US IN A NEGATIVE LIGHT, WE COUNTERED TO THE CONTRARY SWIFTLY AND FORCEFULLY WHILE SILENTLY WONDERING WHETHER THERE WASN ' T SOME TRUTH TO THE INDICTMENT. BECAUSE IT WAS NOT A TIME OF ROBUST ACTIVITY , IT WAS A TIME FOR CAREFUL PLANNING AND LOOKING AHEAD FOR BETTER DAYS THAT WOULD COME . ON DECEMBER 5 , 1986 , I STOOD BEHIND A PODIUM IN MY OFFICE IN THE OLD AUERBACH ' S BUILDING AND ANNOUNCED THAT I WAS LAUNCHING A COMMUNITY-BASED STRATEGIC PLANNING PROGRAM CALLED "SALT LAKE CITY TOMORROW . " -4- THAT FOLLOWING JANUARY , WE BEGAN MEETING WITH CITIZENS FROM ALL SECTORS OF OUR COMMUNITY . WE TALKED ABOUT NEIGHBORHOOD PRESERVATION AND THE STATUS OF THE ARTS IN OUR CITY . ABOUT THE RISING HOMELESS PROBLEM AND THE STIGMA KNOWN AS BLOCK 57 . WE TALKED ABOUT WHATEVER HAPPENED TO BE ON PEOPLE ' S MINDS AS THEIR CONCERNS RELATED TO THE CITY. AND ALL THE WHILE , WE CONTINUED TO ORGANIZE AND REFINE WHAT WAS BEING SAID. IT WAS AN EXHAUSTING , YET EXHILARATING PROCESS . AT THE END OF THE NINE-MONTH PERIOD , WE HAD A CLEARLY DEFINED SIX-POINT PLAN. THE CRITICAL ISSUES DELINEATED FROM THAT PROCESS AND SOME OF THE RESULTS WERE THE FOLLOWING : FIRST, SOLIDIFY OUR COUNTY-WIDE ECONOMIC DEVELOPMENT EFFORTS. WE DID THAT WITH THE FORMATION OF THE UTAH ECONOMIC DEVELOPMENT CORPORATION . SECOND , PROMOTE WHAT WE CALLED "HUMAN DEVELOPMENT. " THIS ISSUE CONSISTS OF TWO COMPONENTS : PROMOTING VOLUNTEERISM AND HELPING THOSE WHO COULD USE OUR ASSISTANCE . THE SALT LAKE CITY VOLUNTEER OFFICE CONTINUES TO FIND NEW AND CREATIVE WAYS TO UTILIZE VOLUNTEER SKILLS. -5- THE COMPLETION OF OUR HOMELESS SHELTER, ACCOMPLISHED BY THE COMBINED EFFORTS OF MANY INDIVIDUALS AND DIVERSE ORGANIZATIONS THROUGHOUT OUR COMMUNITY , IS TESTAMENT TO OUR COMMITMENT TO HELPING THOSE WHO NEED IT. THIRD , STREAMLINE GOVERNMENT AND MAKE IT MORE EFFICIENT. A "CITY OF EXCELLENCE" THEME WAS CREATED ; CITY DEPARTMENTS HAVE BEEN CONSOLIDATED ; A MORE EFFECTIVE , LONG-TERM BUDGET PLANNING EFFORT IS NOW IN PLACE . AND TO CUT RED TAPE , A ONE-STOP COUNTER WAS ESTABLISHED . FOURTH , REVITALIZE OUR NEIGHBORHOODS . NEW NEIGHBORHOOD SELF-HELP GRANTS , TRAINING PROGRAMS FOR NEIGHBORHOOD COUNCIL MEMBERS , AND A CITIZENS ' GUIDE TO CITY HALL HAVE ASSISTED IN GIVING OUR NEIGHBORHOODS A GREATER VOICE IN CITY GOVERNMENT. AND, I MIGHT ADD , THEY SOON WILL HAVE A STRONGER ROLE WITH THE PASSAGE OF THE "RECOGNITION AND NOTIFICATION " ORDINANCES. THE FIFTH ISSUE IS LEADERSHIP. WE WERE CHARGED WITH BRINGING TOGETHER LEADERS FROM ALL SECTORS OF THE COMMUNITY--CIVIC, RELIGIOUS, CULTURAL , AND GOVERNMENTAL--TO DISCUSS AND HELP RESOLVE PROBLEMS THAT EFFECT ALL OF US. WE HAVE ACCOMPLISHED THAT THROUGH THE UTAH ECONOMIC DEVELOPMENT CORPORATION , THE CAPITAL CITY COMMITTEE , THE DRUG TASK FORCE , AND THE SALT LAKE WINTER COMMITTEE , AMONG OTHERS. -6- SIXTH , AND LAST, REVITALIZE OUR DOWNTOWN. THIS LAST INITIATIVE HAS TAKEN TREMENDOUS TIME AND THE EFFORTS OF COUNTLESS CONCERNED CITIZENS. THE "SALT LAKE CITY TOMORROW" PROGRAM LED TO THE WHIRLWIND FIVE- DAY R/UDAT PHENOMENON , WHERE NATIONALLY KNOWN CITY PLANNERS AND ARCHITECTS IMMERSED THEMSELVES IN THE PROBLEMS AND POTENTIAL OF OUR DOWNTOWN AREA. THE RESULT IS A REMARKABLE 62-PAGE STUDY WE CONTINUE TO DRAW UPON AS WE ADDRESS THE CHALLENGES OUR DOWNTOWN POSES. ADDITIONALLY , WE ' RE WORKING TOWARD CONSOLIDATING DOWNTOWN INTERESTS BY FORMIN.G A DOWNTOWN ALLIANCE . THOUGH WE CONTINUE TO ADDRESS ISSUES ARTICULATED IN THE "SALT LAKE CITY TOMORROW" PROGRAM , THERE ARE NEW ISSUES WE MUST NOW ADDRESS. IT IS TIME TO LOOK AGAIN AT WHAT WE WANT FOR THE FUTURE. THEREFORE , THIS YEAR I AM CALLING FOR THE RENEWAL OF THE "SALT LAKE CITY TOMORROW" PROGRAM . I WANT TO CONVENE , FOR THE SECOND TIME , CITIZEN GROUPS TO LOOK AT PAST AND CURRENT ISSUES , TO ADDRESS NEW ISSUES AND WAYS FOR RESOLVING THEM. THERE ARE NEW, DIFFICULT, COMPLEX ISSUES WE MUST ADDRESS , NOT JUST FOR THE SAKE OF OUR SURVIVAL , BUT FOR THE SAKE OF OUR GLOBAL SURVIVAL. THESE ISSUES INCLUDE : -7- -- THE PROTECTION OF OUR ENVIRONMENT: CLEAN AIR AND CLEAN WATER, WHICH FOR US ALSO MEANS THE PROTECTION OF OUR WATERSHED. WE MUST REDUCE POLLUTION , WHICH REQUIRES THAT WE ATTACK ITS SOURCES , EVEN IF IT IS POLITICALLY UNPALATABLE TO DO SO . WE WILL HAVE TO ADDRESS SUCH CONTROVERSIAL ISSUES AS WOOD-BURNING STOVES AND THE SALTING AND SANDING OF OUR ROADS , WHICH CREATES DUST IN THE AIR. BOTH ARE CONTRIBUTORS TO THE POLLUTION PROBLEM. I WANT TO COMMEND GOVERNOR BANGERTER FOR ESTABLISHING THE DEPARTMENT FOR ENVIRONMENTAL QUALITY. IT IS NEEDED . AND IT WILL SEND A CLEAR MESSAGE TO ALL LOCAL GOVERNMENTS THAT ENVIRONMENTAL ISSUES ARE AT THE FOREFRONT OF OUR AGENDA. EACH OF US AS INDIVIDUALS MUST TAKE RESPONSIBILITY FOR IMPROVING OUR ENVIRONMENT. -- THE QUALITY OF OUR AIR IS DIRECTLY EFFECTED BY ANOTHER ISSUE OF GREAT CONCERN: TRANSPORTATION . HOW DO WE "ARRIVE AT" FAST, SAFE MODES OF GETTING FROM ONE PLACE TO ANOTHER? HOW DO WE DO THAT WITHOUT POLLUTING THE ENVIRONMENT AND ADVERSELY EFFECTING OUR NEIGHBORHOODS AND OUR STANDARD OF LIVING . WE MUST : -- LOOK AT INCENTIVES TO INCREASE CAR POOLING . -- MAKE OUR BUS SYSTEM EVEN MORE CONVENIENT. -- PROMOTE BICYCLING , A HEALTHY , NON-POLLUTING FORM OF TRANSPORTATION . -8- -- LOOK AT STAGGERING WORK HOURS AS A METHOD OF REDUCING CARS ON THE ROAD AND , THEREFORE, REDUCING POLLUTION . IMPLEMENTING THESE MEASURES WILL NOT ENTIRELY SOLVE THE PROBLEM . ULTIMATELY , WE MUST IMPLEMENT A LIGHT RAIL SYSTEM, A TRULY VIABLE TRANSPORTATION SOLUTION FOR THE 90S AND BEYOND. WE WILL INTENSIFY OUR COMMITMENT TO RECYCLING PROGRAMS , WHICH INCLUDES NOT ONLY PAPER, BUT CANS , GLASS AND PLASTIC . AND WE NEED TO EDUCATE OUR PUBLIC AS TO HOW WE CAN WASTE LESS AND PRESERVE MORE . OTHER ISSUES INCLUDE THE PROTECTION OF OUR COMMUNITY FROM ESCALATING GANG- AND DRUG-RELATED CRIME. WE HAVE ENJOYED A GOOD REPUTATION AS A SAFE CITY ; WE DO NOT WANT TO LOSE THAT REPUTATION. WE MUST MAINTAIN THE LEVEL OF CONFIDENCE OUR CITIZENS HAVE IN OUR ABILITY TO CONTINUE TO PROTECT THEM . LAST NOVEMBER , I ORGANIZED A DRUG TASK FORCE . THE RESPONSIBILITY OF ITS MEMBERS IS TO OUTLINE A COURSE OF ACTION AND IMPLEMENT A PLAN THAT OUR CITY CAN TAKE IN FIGHTING THE DRUG WAR. ADDITIONALLY , WE MUST REEXAMINE OUR PUBLIC SAFETY NEEDS . THIS YEAR' S BUDGET WILL CENTER ON THAT ISSUE . BUT WE MUST DO MORE THAN THAT. -9- THROWING OFFENDERS IN JAIL IS NOT THE ULTIMATE SOLUTION. WE ALREADY KNOW THAT WE LACK JAIL SPACE , AND THE SPACE WE HAVE IS OVERCROWDED. WE NEED DRUG PREVENTION COURSES IN OUR SCHOOLS AND WORK PLACE . WE NEED EFFECTIVE DRUG REHABILITATION PROGRAMS. WE CANNOT WIN THIS WAR WITHOUT THE INVOLVEMENT OF ALL SECTORS OF SOCIETY , INCLUDING BUSINESSES, SCHOOLS , GOVERNMENT AND , OF PARTICULAR IMPORTANCE IN GETTING THE MESSAGE OUT, THE MEDIA. ANOTHER IMPORTANT ISSUE IS HOUSING . THERE ARE HOMES THAT STAND EMPTY AND THOSE THAT NEED REHABILITATION . WE NEED SAFE , HABITABLE HOUSING FOR OUR NEIGHBORHOODS. WE NEED TO SOLVE THE ONGOING LANDLORD-TENANT CONTROVERSY. HOUSING ISSUES ARE VAST AND COMPLEX . THE SALT LAKE CITY HOUSING POLICY , COMPILED AS A RESULT OF LAST YEAR ' S HOUSING CONFERENCE , BEGINS THE DIFFICULT TASK OF PROVIDING US GUIDELINES IN THIS AREA. THESE AND OTHER CRITICAL ISSUES WILL HAVE TO BE ADDRESSED AS WE RENEW DISCUSSIONS ABOUT THE FUTURE OF OUR CITY . INVOLVING OURSELVES IN A STRATEGIC PLANNING PROCESS HAS GIVEN US DIRECTION AND THEREBY , HAS FOCUSED OUR ENERGIES. BUT WE REALIZE WE NEED MORE THAN CHALLENGES TO MEET AND GOALS TO REACH. -10- WE NEED AN IDENTITY . WE WANT TO KNOW JUST WHAT IT IS OUR COMMUNITY SHOULD BE NOTED FOR . LAST YEAR , IN MY STATE OF THE CITY ADDRESS , I SAID THAT THREE GENERAL AREAS DEFINE OUR CITY . I CONTINUE TO MAINTAIN THAT VIEW. THESE AREAS ARE : -- THE ARTS -- EDUCATION , AND -- ATHLETICS WE ARE PROUD OF OUR ARTS COMMUNITY : OF OUR RENOWNED BALLET, MODERN DANCE GROUPS , AND SYMPHONY ; OF OUR CRITICALLY ACCLAIMED THEATRE GROUPS AND FINE OPERA COMPANY ; OF OUR MANY OUTSTANDING VISUAL AND LITERARY ARTISTS. WE CONTINUE TO RECEIVE NATIONAL ACCLAIM FOR THE ART WE CREATE. AT THE SAME TIME , WE SHOULD NOT OVERLOOK THE ARTISTRY EXPRESSED IN OUR STREETS AND BUILDINGS--IN THIS BUILDING , FOR EXAMPLE--IN OUR STREET LIGHTING AND PARKS . ALL OF THESE THINGS SEND A MESSAGE ABOUT OUR QUALITY OF LIFE . WE WILL CONTINUE TO SUPPORT OUR ARTS COMMUNITY AND ITS PROGRAMS , INCLUDING THE BROWN BAG AND TWILIGHT CONCERTS , THE LIVING TRADITIONS FESTIVAL AND THE MANY ACTIVITIES AT THE ART BAR. WE WILL WORK TO STRENGTHEN THE ARTS SUPPORT NETWORK THAT PROMOTES A HEALTHY ENVIRONMENT FOR OUR ARTISTS AND ARTS ORGANIZATIONS . -11- THE SECOND AREA IS EDUCATION. WE CAN BE THE NUMBER ONE EDUCATION STATE. WE MUST PUT OUR CHILDREN FIRST: THROUGH INCREASED FUNDING FOR TEACHERS AND SUPPLIES AND BY IMPLEMENTING MUCH NEEDED REFORMS THAT PUT THE RESPONSIBILITY FOR IMPROVING OUR EDUCATION SYSTEM ON ALL OUR SHOULDERS , FROM SCHOOLS TO BUSINESSES AND GOVERNMENT AND FROM TEACHERS TO PARENTS AND STUDENTS. THE EDUCATION OF OUR YOUTH EFFECTS US IN FUNDAMENTAL WAYS. AS I INDICATED EARLIER, THE RECENT INCREASE IN JOBS IS IN LARGE PART DUE TO A WELL- EDUCATED WORK FORCE . A CRITICAL FACTOR FOR COMPANIES RELOCATING IN UTAH IS THE STRENGTH OF OUR EDUCATION SYSTEM. THERE IS A ROLE FOR THE CITY IN FOSTERING A STRONG EDUCATION SYSTEM. WE CAN CONTINUE TO ACT AS A LIAISON BETWEEN THE SCHOOL SYSTEM AND THE PRIVATE SECTOR, FOR EXAMPLE . ONE OF OUR PRIMARY EFFORTS IS TO WORK TOWARD DRUG-FREE SCHOOLS. TO THAT END , OUR POLICE DEPARTMENT HAS BEGUN THE "DARE" PROGRAM , WHERE UNIFORMED POLICE OFFICERS VISIT ELEMENTARY SCHOOLS TO TALK WITH YOUNG STUDENTS ABOUT THE DANGERS OF DRUG USE. WE ARE ALSO AMONG THE ORGANIZERS OF THE IN-SCHOOL SCOUTING PROGRAM, AN OPPORTUNITY FOR ALL GIRLS AND BOYS TO BECOME SCOUTS IN THEIR SCHOOLS . -12- I ALSO WANT TO FOSTER GREATER LINES OF COMMUNICATION BETWEEN THE UNIVERSITY OF UTAH AND THE CITY. SIMPLY PUT , THE UNIVERSITY OF UTAH IS IN THE CITY. AND WHAT IT DOES--FROM DISPOSING OF RADIOACTIVE WASTE TO CONSTRUCTING NEW BUILDINGS WHICH RESULTS IN TRAFFIC CONCERNS--EFFECTS ALL OF US , NOT JUST THE UNIVERSITY COMMUNITY. THE FINAL AREA IS ATHLETICS. WE LOVE ALL THAT OUR MAGNIFICENT ENVIRONMENT PROVIDES US. PHYSICAL ACTIVITY ENERGIZES US AND UNIFIES US. AS THE UNITED STATES ' REPRESENTATIVE IN THE INTERNATIONAL WINTER OLYMPIC BIDDING PROCESS , WE HAVE BEEN GIVEN THE RARE OPPORTUNITY TO REPRESENT NOT ONLY THIS COMMUNITY AND THIS STATE , BUT TO ACT AS ROLE MODELS FOR THE NATION AND THE WORLD. THE EFFORT TOWARD HOSTING THE 1998 OR 2002 INTERNATIONAL WINTER OLYMPICS IS ITSELF A LEGACY FOR OUR CHILDREN . IT IS A PROCESS FOR INSTILLING PRIDE IN OUR COMMUNITY. A CHANCE , ULTIMATELY , TO SHOW THAT WE LIVE IN A COMMUNITY WHERE ATHLETES OF DIVERSE RACES AND CULTURES CAN COMPETE PEACEFULLY ; AN OPPORTUNITY TO SHOW THAT THE WORLD IS WELCOME HERE . IF ANYTHING IS CLEAR IN LOOKING AT PAST EVENTS AND FUTURE CHALLENGES , IT IS THAT SALT LAKE CITY IS STEPPING OUT INTO THE WORLD IN THE DECADE OF THE 90S , AS WELL AS INVITING THE WORLD IN . IT IS , I THINK, A CAUSE FOR CELEBRATION . AND , IN FACT, WE WILL BE CELEBRATING IN THE 1990S . -13- 1996 MARKS THE ONE HUNDREDTH YEAR OF OUR STATEHOOD. 1997 HALLMARKS THE ONE HUNDRED AND FIFTIETH ANNIVERSARY OF THE ARRIVAL OF THE PIONEERS AND THE FOUNDING OF OUR CITY . FINALLY , 1998 COULD BE THE YEAR THAT THE EIGHTEENTH WINTER OLYMPIAD TAKES PLACE AT OUR DOORSTEP. SALT LAKE CITY TOMORROW. SALT LAKE CITY IN A YEAR. SALT LAKE CITY IN TEN YEARS. MUCH LIES BEFORE US. IT REQUIRES CLEAR THINKING AND A WELL LAID OUT PLAN OF ACTION . AS YOU MAY KNOW, I WAS A TEACHER. MY ROOTS ARE FIRMLY GROUNDED IN THE TEACHING PRINCIPLE THAT A GOOD TEACHER DOES NOT TEACH , BUT RATHER ALLOWS PEOPLE TO LEARN . THE RENEWAL OF THE "SALT LAKE CITY TOMORROW" PROGRAM IS MEANT TO ALLOW PEOPLE TO LEARN THROUGH DISCUSSION OF HOW WE WILL APPROACH THIS NEW DECADE . I INVITE EACH OF YOU TO JOIN ME IN THIS PROCESS TO DETERMINE WHERE WE ARE AND TO LOOK AGAIN AT WHERE WE WANT TO GO. LET ME CLOSE WITH A SCENE FROM LEWIS CARROL ' S ALICE IN WONDERLAND. LOST IN WONDERLAND , ALICE HAPPENS UPON THE CHESHIRE CAT : -14- "WOULD YOU TELL ME , PLEASE , WHICH WAY I OUGHT TO GO FROM HERE?" ASKS ALICE . "THAT DEPENDS A GOOD DEAL ON WHERE YOU WANT TO GET TO , " SAID THE CAT. " I DON ' T MUCH CARE WHERE, " SAID ALICE . "THEN IT DOESN ' T MATTER WHICH WAY YOU GO, " SAID THE CAT. AS A CITY, WE CARE DEEPLY WHERE WE ARE GOING . AND UNLIKE ALICE , BY RENEWING THE "SALT LAKE CITY TOMORROW" PROGRAM, WE WILL HAVE A MAP TO HELP US GET THERE . THANK YOU . • -15- gy STEPHANIE PETERSON 1+= i\ 0�f1 J �`J� :D e OI f PALMER DEPAULIS DIRECTOR ��ii MAYOR COMMUNITY AFFAIRS 451 SOUTH STATE STREET, ROOM 335 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7915 MEMORANDUM TO: Emilie Charles, Executive Assistant to the Mayo/, FRCM: Stephanie Peterson, Community Affairs Directo ' DATE: 12/21/89 RE: Mayor/City Council Recognition of Volunteer Projects There are two special volunteer projects which merit recognition by the Mayor and City Council. If possible, I would like to schedule the recognitions for early in January. However, I realize there are many transitions ahead with the new year and the Council's changing structure. Special projects and volunteers to be acknowledged include: 1. Salt Lake City Leaf Bag Program (Public Works/Fire Department) Outstanding Organization - Salt Lake Area JAYCEES The JAYCEES coordinated the volunteer scheduling for all second shifts. Outstanding Volunteer. - Thomas Peters, Judge Memorial student Tom coordinated volunteers for Fire Station #4 (Avenues) and developed • a leaf bag distribution project which assisted elderly and homebound (see attached article) . Final figures on the Leaf Bag Program's volunteer services will also be presented. 2. Senior Pet Companion Program "Santa Dog" (Animal Control) Outstanding Intern - Bill Robertson, Green Thumb Program Bill is the program administrator for this program which places animals with elderly and handicapped individuals (see attached article) . Please let me know if you feel comfortable proceeding with these recognitions. Thank you for your consideration. t .,. <♦o, "9 •`�� g" R �♦ ? : Qa 'AS*..,,-,-;',.,-''' . ..• ... .., . : ..,..:,:, A..;,, ,,„ , , ,. : , • .--e, •:•::',•'•!'4.„.'1',‘1,-.--,'.•.-. s ' �s f �_ v ny sL c r b r.w .s{ at � -, "?4' INN i Y F.v F ,, , r °_, i Six �,x � n ♦x� �: t j, wv,,,,,4 jir .: 'x a u3 3y�tr0 is (> tF ra x� ♦F x„ T ,i♦ . i. A r n rat ' ^ .: ' r:....,..F ?f j i§:t z. fk'•• :::,--71-,,,,, sya��_. 'e z ',Fi' �r !;` ' 't e'i ,.sk ' ''x �. k:,`:,' �' �� .: w i < r G t 'yS'i Y' i ,E �''��?'�� (. ,f♦ S�.�� }�j i • • J .< .- ^, 4, 4 -X '1•W' „ry 2', .5 - R^� 1 { Y +5�•4�u'a... t�, ",• _ >:'' 'd4 a ' �..ar�, sCeA � — ; » A � . ......,. '4z ,a.'i. »rx... t� m PHOTOGRAPHY/TOM Tom Peters of Judge Memorial High School gets leaf bags from fireman Darrell Henderson to be distributed free. S.L. residents can collect fallleaves co ect in frcô bag. By Karen Boren Swedin . Judge Memorial sophomore Tom handing out bags or taking them to other ways,since they're not ur. Deseret News staff writer Peters knew that last year many resi- senior citizens. ging so many drains" Leaf dents of his neighborhood didn't re- Theyearly Proms began after a placed is garbage containers u There are ceive leaf bags. So he called volun= near-tragedy that occurred five ��on each collection day.I` 500,000 of them is leer .coordinator Tamara Wharton to years ago when Mayor Palmer De dents have too many to fit in thf •- bright, day-glow see if he could help at the new fire Paulis was with the public works de- n�• said they would �' s' orange waiting to station No. 4 at 800 East and 11th partment.A child playing in a pile of send ° and =4'" be distributed to Avenue. leaves was struck by a car.DePaulis pick up on Saturdays. Salt Lake fire sta- Peters Prep g a pamphlet to decided that not only were the leaves Salt Lake City volunteer coo; lions and senior HELPING YOU be distributed to residents in the clogging drains before the first snow- for Tamara Wharton loves to s citizen centers. area telling them about the program fall,they were a hazard to children's orange bags sitting on curbs The plastic bags in a festive pumpkin Elderly citizens who are house safety. fall"Sometimes you see them color will be available from Oct 14 bound can call Peters,who will ar- Dustin Bills,supervisor in the De-. through Oct 28 to contain fall leaves perviso ing on a lamp post like a jack o before they collect in drainage range to take bags to their homes. partment of Public Works. Street tern. sand. "And people l� systems. "I just wanted to help out,"said Maintenance and Safety Division, take a blade marker and make Salt Lake City has sponsored the Peters as he organized friends to told the Deseret News that while the on ahem-" program for five years and,with the help hand out the bags on the first number of loads collected by garbs- Gary Cesaril,the new�resid Salt Lake Jaycees helping with dis- shift of the 1.7 p.m. weekday and g��double during the leaf pickup, the Salt Lake Jaycees,is orga tribution, will again make the leaf 8:30 a.m. to 4:30 pm. Saturday time, the program saves about Jaycee volunteers to take a bags available to Salt Lake City rest' schedule. So between football _me. '$4 shift at fire stations and senic dents free of charge. lice and AP classes, Peters will be "Drainage crews can be utilized int to hand out the 'The Jay ees are community c ed,"said Casaril."[n addition ti U. Mothers' Club plans a membership tea Wednesday in S.Lgram �d ld House,wewvanted to help dist University of Utah Mothers' Club will hold its sen,Mrs.A.Ferrell Coombs,bins Gladys DaIebout sad the bags the sty" membership tea on Wednesday,Oct.11,at 1 p m at the Mrs Eldon T. McEntire.The refreshments will befur- Last y::: 105 volunteers w home of Mrs Jack H.Ayre,2239 Berkeley St,Salt Lake Wished by board members,sad music will be provided by to. .• • the leaf AS tt. City.: Francelle Larsen:. prepares gar the 500.00€ Greeting guests will' ill be Mrs Rose Thuet and Mrs. • Founded in 1931,the U.Mothers'Club promotes the , frill of t�utumtl glory, Meda Allen.In the receiving line will be Mrs.Carol Egan, „,Rare•of the school and its students and is in close teens will again. play a major rt Mrs.Bill Polteno,Mrs.Karen Hyde,Mrs.Grace C.Ward, contact with the university facul Mts Adrian Christensen and Mrs Marilyn Child.Ponce- ty' 7 ing at the tea table will be six past presidents Mrs.Fred Women in the area are invited to join the club under A Peterson,Mrs.Orvil B.Smith,Mrs Rhonda N.Han the direction of this year's president,Mrs Egan. ::,..:lay,, � . • :;:' • � .-4 r i', '. 11r l .El�aVel�,A< l '21. lirikiikill1 lLs� br aLt fake Wibunt. .. ..,..,. . g.;,.s.•„, _Santa Dog Program ..--,- -.-.. -, • I t.i ti` i .a[t. -t" j _ . _ � rrt ti < } 4. -• s;` isperfect maLehup43 _...„..::,_. :;.,..-„,„„:„:.,„.„.,,,...„,A....„.„,::„ . t .. ti �t !i t er 4 :•; to L By Nancy Hobbs The Santa Dog/Senior Citizens Tribune Lifestyle Writer Companion:\iumal program collects �'"-'" • rw d i-t �,,; (fill Itubertson is a blend of bounty supplies, moues and backgrounds . . ,,, • c , minter and adoption counselor, Mr. Robertson matches those with s 'n..t ,r cze• .torhing to match some of his uc:utgi- the bc:,t available dog, cat, bird or r , Y 3} -' 7,F .•.,l cht'nts with those who appreciate fish. 'i 3 ''{+w ,: , -.. la,it t uddlcsuote good looks Johanti ill1 e.vis is one of the pro- , ; Ili rev aril i::n't high slakes; as a grain's thrilled customers. Handi- :; ;`�"'.2 y` - • r ,vero.nent Green Tlttii It iv1 Li, capped a,t,t I ..rlially blind because { ry ;x> 4-4 i,..i tiii ❑ew shills surer leis csper- of nte,ltt,,le: i.elerosts, Ms. Lewis n' ' •,, ,tt,�t , �.... I.:2. .. a consultant for oil engineer- called:(,r rl .animalsheltersever- "" ` . � r^• log exploration beCarrie obsolete, �+- `'x , Q- i al month t,u. She explained to Mr. r -�. � ,�� ' f , ages are the minimum. Instead,he Robertson that she wanted a to - -+` _,. : r: �. ' dog xe ~vt 1. d thvivc's on malting others happy. help alert her to things she may not *H� v{ z, The me ins is finding suitable pets see or tour.She also wanted the corn- ; r . tt\ . for;cruurs and handicapped individ- panionsfiip llctl a loyal friend could 1 • w k% cats who ,rant love and companion- provide. �'� \ * `► - 1 .:hip. 111:also studies the daily classi• Two month., late:, Nir. Robertson r''. --'i\. '' - ` ..et.,,,,,.:.-,:":. i Ill aohs to match atsners of lost pets matched Ms. Lewis with Arthur,a 6 i'- _ ' ,I - -.' f +w _ ":. .•r • it . e.tilt animals at Salt Lake Cily's Ani- y zat s yif-'",,, i year-old Maltese given op by his pre �— ! i�t..l Control slicker,where he puts in vi•utis owners. After a month togeth v✓ { d k - ft t - -}aj •rl weekly,,vur k hours. azS t / + - a _ cr^ " c t} er, both are doing well, Ms. Lewis t jt i5 4 • This time of year, emphasis is put 1' , ,, r- + � .. Ake r ; said. the Santa nog Program, the ' Having worked as a pediatric `t` } `` ` > «. --` 7 l , ti r ,,•a,•old brainchild of Lou Lynes,di- r:, i" J •f -rg. # ,, a �clor of Salt L.ike's.\nimal Control nurse, ors. Lewis was aware of re- c ' 4 1, "` `=� i•ta iwt, and Frank Crowe, humane Ports touting the benefits of pet:her 't t< - ' {.. "il-,t gg"-.. 'y", -' Fes . , r' apy for children and senior citizens 5. +r a; ' • ,:"`•� '' 't.� at it education and public relations offi- 3 „ 1 f ;f u.r. Now she is living proof. Her blood w •c ,,,, p. 0 • ` , t,.ig't fir.' s•-, y pressure is down,she's off one medi f •. ,t, ,•,,;; Y. • The program is year-round, but nt : . „�t,r _ .t , for the other 11 months is called the cation she vvl, taking prior to Ar- ,4•J •- • y �rTr *.4.4 ti_ thur's arrival, and she feels much F r - ,r f t „ ' :senior Citizens Companion Animal .y < i,7 lei-t It . safer with the dug in her home, Ms . m••••, _t t ; 44•-, , , Program. t, Lewis said. ,� \ 'Mt concept is that pets, pet foody e•P ` ! -_ r,, '` ` and t elcrivary,arc will be provided During;that same time,Arthur has r .. ,t) „wZ,� , n `, learned several tricks:shaking paws, ,,..,. • '"`=ram , seniors or special-needs people, g Z!' I ry i„•lire at et- below poverty level, so bowing and ii,inciug when she sings . - • r • taw; can reap the benefits of animal The dog's previous owners also are - i ,-uninaniouship despite economic relieved to know their former pet is :' s buiiI it,uus. enjoying :ovine,attentive care. • a ., i . t« .. ! , ;;, -• 1 lit 'migrant takes advantage of Although food is available to se- -. •`•' F-f .,.';N'� `_ "'.�;r..-. n. .several elements, acting as a clear- nior cilide is on hinted incomes, —Tribune Slott Moto by/t uart c,,t, inetiouse bringing factions together. Whether or not they adopt their pet Johannah Lewis, handicapped and partially blind, is lumpy Thousands of dollars worth of pet through the Santa Dog Program,Ms. ,with new pet, Arthur, adopted through Santa Dog Program. food and supplies are donated annu- Lewis said she will assume that re- ally to Salt Lake City's Animal Con- sponsibility; she doesn't want to - trot Division, either because of abuse the program by taking the • Mr.Crowe cited studies that claim Pation is not limited to Salt Lake City tautly packaging or approaching ex- food from someone less able to af- a senior citizen who's able to keep a residents. The only criteria are fie piration dates for retail sales (nee- ford it. Her concern prior to the pet lives longer and happier. Obvi- nancial need and ability to keep and Iliac affects the product quality). adoption,however,was the potential ously,the pet benefits. care for the pet. Local veterinarians have also ex- cost of veterinary care. She was as- •But besides caring for the animal, Mr. Robertson, who lives under pressed interest in donating services, sured by Mr. Robertson that those Mr. Crowe said, the senior citizens • but don't have an organized means of services would be donated, when he serves, using a pay telephone to the same conditions as many of those determining what segment of the necessary. also can take pride knowing they're make calls after office hours and rid- community is most in need. "Veterinary costs may be only$20 contributing to society by adopting ing the bus to deliver dog food, has At the same time, there are hun- a year.But$20 can buy you soap and abandoned animals. his own Christmas wish: dreds of lost or unwanted animals toilet paper, when you're down to "An animal that is put to sleep is a collected b state shelters. that,"Ms. Lewis said. cost to the city financially and emo- "It wouldin us nice if Shing Claus Y would bring a van.Nothing fancy. Finally, there is the senior-citizen A major reason that pet therapy tionally. This way, the animal still But that's our biggest t r, has value to the communitywithout gbl Ss problem t t h .:or,ununily, many living on fixed in- works is that it gives those often de- levering food and services to the etnncs that, duu't allow fur luxuries, pendent for so much, the opportuni_ cost." • people." including an extra mouth — of any ty to have something that depends on Because there is no cost to taxpay- kind—to feed. them. ers to operate the program, partici- i STEPHANIE PETERSON 1 ' r i aj M ... 1119.11 PALMER DEPAULIS DIRECTOR MAYOR COMMUNITY AFFAIRS 451 SOUTH STATE STREET, ROOM 335 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7915 December 22, 1989 TO: Salt Lake City Council RE: Changes to Handicapped Parking ordinance REC. IDATICN: City Council approve the following changes to the Handicapped Parking ordinance: 1- Section 12.56.135 would be added to the existing ordinance to allow out-of state vehicles with authorized plates to park in designated handicapped spaces in Salt Lake City. This addition would ons stent with state law an would be a,servicg to disabled out-of-state visitors. 2- Change the word handicap to handicapped throughout the ordinance. • FUNDING: Not applicable BACKGROUND DISCUSSICN: The Mayor's Handicapped Concerns Committee has proposed these changes. Police, Transportation, Finance, and Personnel departments have reviewed and approved the changes. LEGISLATIVE ACTTION: The City's attorney's office has prepared the necessary changes to the ordinance and is attached for your action. CONTACT PERSON: Becky Sanchez 535-7931 Sub fitted by: St anie Peterson Director, Mayor's Office of Community Affairs C. Unlawful Use of Handicapped License Plate. It is unlawful for any person using a vehicle with a handicapped license plate or transferable motor vehicle identification card who is not handicapped to use handicapped parking. D. Restricted Areas Not Authorized for Special Handicapped Parking. *** 1 . through 15. *** SECTION 2. That Chapter 12.56 . 130 of the Salt Lake City Code be, and the same hereby is amended to read as follows : 12. 56.130 Handicapped--Private property. No vehicle except those displaying a handicapped license plate or transferable motor vehicle identification card issued by the state shall park in any parking spot designated for the 1 parking of handicapped persons. *** SECTION 3. That Chapter 12.56 of the Salt Lake City Code be, and the same hereby is, amended by enacting a new Section 12. 56 . 135 pertaining to handicapped parking by out of state vehicles to read as follows : 12.56. 135 Handicapped parking--Out-of-state vehicles. The parking privileges granted by Sections 12 . 56 . 120 and 12. 56. 130 herein, or their successors, also apply to vehicles displaying a distinctive handicapped license plate or transferable identification card issued by another state, if displayed on a vehicle utilized by a handicapped person. SECTION 4. This ordinance shall take effect upon its first publication. -2- LEROY W. HOOTON, JR. DIRECTOR WENDELL E. EVENSEN, P.E. !' � of MEORM1 1 SUPERINTENDENT WATER SUPPLY A WATERWORKS E. TIM DOXEY DEPARTMENT OF PUBLIC UTILITIES SUPERINTENDENT Water Supply & Waterworks PALMER DEPAULIS WATER RECLAMATION Water Reclamation MAYOR JAMES M. LEWIS, C.P.A. CHIEF FINANCE& 1530 SOUTH WEST TEMPLE ACCOUNTING OFFICER SALT LAKE CITY, UTAH 84115 GEORGE JORGENSEN, P.E. CHIEF ENGINEER December 28, 1989 TO: Salt Lake City Council RE: Interlocal Agreement between the Metropolitan Water District of Salt Lake City and the Salt Lake County Water Conservancy District for Sale of Surplus Water and Exchange of Capacities. Recommendation: Salt Lake City is not a party to this agreement but is an "approving party" the terms and conditions of the agreement. It is recommended that the City approve the interlocal agreement. Availability of Funds: Not applicable Discussion: As a result of Sandy City' s petition for annexation into the Metropolitan Water District of Salt Lake City and the subsequent events Salt Lake City, Sandy City, the Salt Lake County Water Conservancy District and the Metropolitan Water District of Salt Lake City negotiated a "Conjunctive Water Management Plan" for the treatment and delivery of water within Salt Lake County through the year 2001 . As part of this plan it was agreed that the Metropolitan Water District would renegotiate its water sales agreements with the Salt Lake County Water Conservancy District and each would exchange capacities in the Salt Lake Aqueduct and Jordan Aqueduct systems. Under this interlocal agreement, the Metropolitan Water District will sell up to 10, 000 acre-feet of water to the Salt Lake County Water Conservancy District subject to Salt Lake City' s preferential rights, Sandy City' s preferential rights as specified in Resolution No. 1633 and other obligations of the District. Water under this agreement will be both treated and un-treated at rates specified. Also, the Metropolitan Water District will exchange with the Salt Lake County Water Conservancy District 15. 5 cfs of capacity in the Jordan Valley Water Treatment Plant and Jordan Aqueduct for 15. 5 cfs in the Salt Lake Aqueduct. This exchange of capacity Salt Lake City Council December 28, 1989 Page 2 will allow the Salt Lake County Water Conservancy District to deliver water to its South East Regional Water Treatment Plant and the Metropolitan Water District to deliver an additional 15 . 5 cfs of water through the Jordan Valley Water Treatment Plant and Jordan Aqueduct to Salt Lake City' s Northwest Quadrant pipelines. The Metropolitan Water District will pay at a reduced rate for the water delivered through the Jordan Aqueduct to Salt Lake City for up to 11 , 200 acre-feet of water. The water sales portion of this interlocal agreement will terminate on December 31, 2001 and the exchange of capacity will remain in effect for five ( 5 ) year terms thereafter unless terminated by either party. Sincerely, ' I t ►% 0 LeRoy W' Hooton, Jr. Director LWH:mfs RESOLUTION NO. OF 1990 AUTHORIZING THE APPROVAL OF AN INTERLOCAL COOPERATION AGREEMENT BETWEEN SALT LAKE COUNTY WATER CONSERVANCY DISTRICT (SLCWCD) AND METROPOLITAN WATER DISTRICT OF SALT LAKE CITY (MWD ) WHEREAS, Title 11, Chapter 13, U.C.A. , 1953, as amended, allows public entities to enter into cooperative agreements to provide joint undertakings and services; and WHEREAS, the attached agreement has been prepared to accomplish said purposes; THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah: 1 . It does hereby approve the form and substance of the 4% attached agreement, which is one of several agreements necessary for Sandy City' s annexation into MWD. This one is entitled "Interlocal Agreement between Metropolitan Water District of Salt Lake City and Salt Lake County Water Conservancy District for Sale of Surplus Water and Exchange of Capacities. " This agreement will control the sale of surplus MWD water to SLCWCD and the exchange of conduit capacity to allow greater distribution of water to Salt Lake City' s West Side. 2 . Palmer A. DePaulis, Mayor of Salt Lake City, Utah, is hereby authorized to approve said agreement on behalf of Salt Lake City Corporation, subject to any minor changes which do not materially affect the rights and obligations of the City thereunder. Passed by the City Council of Salt Lake City, Utah, this day of , 1990. SALT LAKE CITY COUNCIL By CHAIRPERSON ATTEST: CITY RECORDER MAYOR ATTEST: RLM:rc -2- INTERLOCAL AGREEMENT BETWEEN METROPOLITAN WATER DISTRICT OF SALT LAKE CITY AND SALT LAKE COUNTY WATER CONSERVANCY DISTRICT FOR SALE OF SURPLUS WATER AND EXCHANGE OF CAPACITIES THIS INTERLOCAL AGREEMENT, made and entered- into this day of January, 1990, by and between the METROPOLITAN WATER DISTRICT OF SALT LAKE CITY, a metropolitan water district organized and existing pursuant Utah Code Ann. , Title 73, Chapter 8, herein styled "MWD" and SALT LAKE COUNTY WATER CONSERVANCY DISTRICT, a water conservancy district organized and existing pursuant to Utah Code Ann. , Title 73 , Chapter 9 , herein styled "SLCWCD" , with Salt Lake City Corporation, herein styled "SLC" and Sandy City Corporation, herein styled "Sandy" as approving parties . W I T N E S S E T H : WHEREAS, MWD and SLCWCD entered into two -separate Agreements dated May 26 , 1953 and June 13 , 1962 , as amended December 11, 1969 , wherein MWD agreed to sell and SLCWCD agreed to purchase stated quantities of water on the terms and conditions contained therein; and WHEREAS, MWD and SLCWCD entered into a Memorandum of Understanding dated May 16 , 1969 , covering certain surplus waters of MWD and a Memorandum of Understanding dated July 29 , 1985 , covering excess carrying capacity in MWD' s Salt Lake Aqueduct (herein "SLA" ) and excess treatment capacity in MWD' s Little Cottonwood Water Treatment Plant (herein "LCWTP" ) ; and WHEREAS, MWD and SLCWCD entered into that certain "Jordan Aqueduct Operation and Maintenance Agreement" dated June 23, 1989 , with the Central Utah Water Conservancy District and the U. S . Bureau of Reclamation as approving parties, (herein "O&M Agreement" ) covering the management, operation and maintenance of the Jordan Aqueduct; and WHEREAS, in August, 1989, MWD and SLCWCD each approved and adopted that certain "Water Supply and Distribution Plan for Salt Lake County 1991-2000" (herein "Conjunctive Water Management Plan" ) which provides in part that MWD and SLCWCD will renegotiate the May 26, 1953 Agreement and the June 13, 1962 Agreement, as amended; and WHEREAS, pursuant to the Conjunctive Water Management Plan, MWD and SLCWCD desire to enter into this Interlocal Agreement to terminate and supersede the two Agreements dated May 26 , 1953 and the June 13 , 1962 , as amended, and the two Memorandums of Understanding dated May 16 , 1969 and June 29 , 1985, provided that Sandy is excluded from SLCWCD and is annexed to MWD . NOW, THEREFORE, in consideration of the mutual benefits which will accrue to the parties hereto, the parties agree as follows : 2 1 . The existing Agreements between MWD and SLCWCD dated May 26 , 1953 and June 13 , 1962 , as amended December 11 , 1969 , and the two existing Memorandums of Understanding between MWD and SLCWCD dated May 16 , 1969 and June 29 , 1985 , shall remain in full force and effect until January 2 , 1992 , at which time said Agreements and Memorandums of Understanding shall terminate and shall be superseded by this Interlocal Agreement. In the event that Sandy is not formally excluded from SLCWCD or is not formally annexed into MWD on or before January 2 , 1992 , this Agreement shall become null and void as of January 2 , 1992 , and the said two existing Agreements and two existing Memorandums of Understanding shall remain in full force and effect according to the terms thereof , unless and until the same thereafter are amended, terminated or set aside . 2 . Beginning in calendar year 1992 , and continuing through calendar year 2001 , MWD will sell to SLCWCD and SLCWCD will purchase from MWD up to 10, 000 acre-feet ( "AF" ) of surplus water annually, which at all times shall be only in excess of and subject to: ( a) the preferential right of SLC to purchase water from MWD as provided in Utah Code Ann. § 73-8-18 ( 2 ) and MWD Resolution No. 1633 dated January 9 , 1989; (b) the preferential right of Sandy upon its annexation into MWD to purchase water from MWD as provided 3 in Utah Code Ann . § 73-8-18 ( 2 ) , and MWD Resolution No . 1633 dated January 9 , 1989; (c) other now existing or renewed obligations of MWD; (d) the availability of capacities in the SLA and LCWTP in excess of those capacities utilized by MWD to convey, treat and deliver ( i) the waters to SLC and Sandy pursuant to the foregoing subparagraphs 2 ( a) and 2 (b) and said MWD Resolution No. 1633 ; ( ii) the waters of Little Cottonwood Creek to which SLC and Sandy are entitled; and ( iii) the waters covered by the existing or renewed obligations of MWD pursuant to the foregoing subparagraph 2 (c ) . 3 . The waters herein provided for shall consist of both treated water and untreated water and shall be made available and/or delivered by MWD to SLCWCD as follows : ( a) untreated water made available at the Olmsted Diversion from the Provo River for diversion by SLCWCD at its sole cost and expense into the Olmsted Flow Line and the conveyance thereby and through Alpine Aqueduct Reach 1 and the Jordan Aqueduct System to the Jordan Valley Water Treatment Plant (herein "JVWTP" ) ; 4 (b) untreated water delivered into the existing turnout from the SLA to SLCWCD' s Southeast Regional Water Treatment Plant (herein "SRWTP" ) ; (c) treated water delivered from the LCWTP and/or the existing turnouts from the SLA situated northerly (downstream) from the LCWTP into the pipelines of SLCWCD connected to the SLA; and (d) untreated or treated water delivered into any other existing or future turnout from the SLA if approved in writing by MWD and on such terms and conditions as MWD shall require. MWD makes no representations or warranties as to the quality of the foregoing treated and untreated waters made available and/or delivered to SLCWCD; however, the treated water delivered pursuant to the preceding subparagraph 3 (c) shall be treated to the same water quality standards as that delivered by MWD for municipal and domestic purposes to the inhabitants of SLC and Sandy. 4 . On or before April 1 of each year, MWD shall notify SLCWCD in writing of the quantity of water up to 10, 000 AF, which MWD will make available and/or deliver to SLCWCD during that calendar year and the rates per AF to be charged SLCWCD by MWD for both treated water and untreated water, together with an itemized statement of the LCWTP treatment costs per AF and the 5 total costs allocated by MWD to the LCWTP during the preceding calendar year. Within thirty ( 30) days thereafter, but not later than May 1 of that year, SLCWCD shall notify MWD in writing of the quantity of water in AF which SLCWCD will purchase from MWD during that calendar year and SLCWCD shall purchase, or in any event pay MWD for, the quantity of water so specified in the foregoing written notice of SLCWCD. In the event SLCWCD does not use the total quantity of water specified in its foregoing notice during that calendar year, such unused water shall revert to MWD on December 31 of that calendar year and the rate applicable to such unused water shall be the rate for untreated water. 5 . MWD shall charge SLCWCD during each calendar year for the waters covered by this Interlocal Agreement as follows: ( a) the rate per AF for untreated water during the respective calendar year shall be: 1992 - $55 . 00 1993 - $60 . 00 1994 - $61 . 50 1995 - $63 . 00 1996 - $64 . 50 1997 - $66 .00 1998 - $67 . 50 1999 - $69 . 00 2000 - $70 . 50 2001 - $72 . 00 (b) treated water shall be at the rate specified in the preceding subparagraph 5 ( a) , plus the LCWTP treatment costs per AF for the preceding calendar year, determined by 6 dividing the total costs ( excluding new capital improvement costs for enlarging plant capacity) allocated by MWD to the LCWTP during the preceding calendar year by the total number of AF treated at the LCWTP during the same calendar year . 6 . SLCWCD shall pay MWD monthly for the water purchased by SLCWCD pursuant to this Interlocal Agreement . Within ten ( 10) days after the end of each month, MWD shall send SLCWCD a statement of the charges covering both the treated water and untreated water made available and/or delivered to SLCWCD pursuant to this Interlocal Agreement and SLCWCD shall make payment thereof to MWD within thirty ( 30) days thereafter. 7 . It is acknowledged that while MWD expects to deliver the water to SLCWCD covered by this Interlocal Agreement and will make reasonable efforts to do so, MWD does not guarantee against the effect of failure or breaks in its water system, or necessary or expedient repairs, water shortages, accidents , acts of God or lack of water owing to its obligations to deliver water to SLC and Sandy upon its annexation and its other existing or renewed obligations , nor against any cause beyond its control which may make it impossible to deliver water to SLCWCD at the places described in paragraph 3 above . 8 . SLCWCD shall be entitled, during the term of this Interlocal Agreement, to utilize 15 . 5 cfs of capacity in the SLA from Deer Creek Reservoir to the turnout for MWD' s proposed 7 untreated water reservoir to be located in SWi , Sec . 2 , T. 3S . , R. 1E . , SLB&M and, in exchange therefor, MWD shall be entitled, during the term of this Interlocal Agreement, to utilize 15 . 5 cfs of the five-sevenths ( 5/7ths ) capacity to which SLCWCD is entitled in the Jordan Aqueduct System, (Reaches 1 , 2 , 3 and 4 ) and in the JVWTP , together with 15 . 5 cfs of the capacity to which SLCWCD is entitled in the Olmsted Flow Line and Alpine Aqueduct Reach 1 . The foregoing 15 . 5 cfs of capacity in the SLA may be utilized by SLCWCD to convey the water covered by subparagraph 3 (b) above and other waters available to SLCWCD in addition to those quantities provided for in subparagraph 3 (b) and 3 (c) above . In the event that either the SLA or the Olmsted Flow Line , Alpine Aqueduct Reach 1 , Jordan Aqueduct System or the JVWTP becomes physically inoperable during the term of this Interlocal Agreement , the foregoing exchange of capacities shall continue during the inoperable period unless the parties, including SLC and Sandy, otherwise agree in writing. In the event that the exchanged capacity in the SLA or the Olmsted Flow Line, Alpine Reach 1 , Jordan Aqueduct System or the JVWTP becomes unavailable as a result of actions by third parties during the term of this Interlocal Agreement, the foregoing exchange of capacities shall be proportionately reduced during the unavailability period unless the parties , including SLC and Sandy, otherwise agree in writing. 8 9 . It is the intention of the parties that the exchange of capacities provided for in the preceding paragraph 8, shall be cost and revenue neutral as far as practicable, and that the first 15 . 5 cfs of water conveyed by means of the Olmsted Flow Line, Alpine Aqueduct Reach 1 and Jordan Aqueduct System and treated at the JVWTP for use by MWD shall be considered as water conveyed and treated under MWD ' s 15 . 5 cfs of exchange capacity. Accordingly, MWD shall bear all costs relating to the SLA to convey SLCWCD' s water under SLCWCD' s 15 . 5 cfs of exchange capacity and SLCWCD shall bear all costs relating to the Olmsted Flow Line, Alpine Aqueduct Reach 1 and the Jordan Aqueduct System to convey MWD' s water under MWD ' s 15 . 5 cfs of exchange capacity. SLCWCD shall treat up to 15 . 5 cfs ( 30 . 7 AF per day) , but not to exceed 11 , 200 AF annually of MWD' s water at the JVWTP and MWD shall pay SLCWCD the cost per AF determined by the sum of : ( a) the cost per AF directly proportionate to the quantity of water treated ( "variable costs" ) for the preceding calendar year which MWD otherwise would have incurred at the LCWTP to treat the same quantity of water at the LCWTP (currently approximately $7 . 00 per AF) ; and (b) one-half of the total cost per AF ( currently approximately $30 . 00 per AF) for treatment of water allocated by SLCWCD ( excluding new capital improvement costs for enlarging plant capacity) for the preceding calendar 9 year, excluding incremental costs for treating Jordan River water, at the JVWTP . By way of example only ( 11 , 200 AF) ( $7 . 00) = $ 78,400 ( 11 , 200 AF) ( $30 . 00) = $168, 000 2 $246 ,400 = $22 . 00 per AF 11 , 200AF On or before March 1 , SLCWCD shall provide MWD with an itemized statement of the charges covering the total costs allocated by SLCWCD to the JVWTP during the preceding calendar year. Any MWD water in excess of 15 . 5 cfs ( 30 . 7 AF per day) treated at the JVWTP shall be governed by a separate agreement among MWD, SLCWCD and the Central Utah Water Conservancy District covering the operation and maintenance of the JVWTP . 10 . MWD shall pay SLCWCD monthly for MWD' s water treated at the JVWTP pursuant to this Interlocal Agreement. Within ten ( 10) days after the end of each month, SLCWCD shall send MWD a statement of the charges covering the cost to treat MWD' s water at the JVWTP pursuant to this Interlocal Agreement, and MWD shall make payment thereof to SLCWCD within thirty ( 30) days thereafter. 11 . It is anticipated that MWD will, from time to time, during the term of this Interlocal Agreement, have additional surplus waters and/or SLA/LCWTP capacities available in excess of the needs of SLC, Sandy and others to whom MWD is then obligated. 10 Accordingly, in the event, during the term of this Agreement, MWD determines that it has such additional surplus waters available for sale and/or additional capacities available for lease, MWD will notify SLCWCD of such quantities of water and/or capacities and the price to be charged therefor . In that event, and in the further event SLCWCD desires to purchase such additional surplus waters and/or lease such additional capacities , SLCWCD will so notify MWD, and the sale and/or lease thereof will be made on such terms and conditions as agreed upon by MWD and SLCWCD. 12 . In the event that SLCWCD shall default in the performance of any provision of this Agreement, in addition to any legal remedy available, MWD may, at its sole discretion, send written notice of said default to SLCWCD . If the default is not cured within thirty ( 30 ) days of said written notice, MWD may either suspend delivery of water and/or the exchange of capacities provided herein, or terminate this Agreement in its entirety. In the event that MWD shall default in the performance of any provision of this Agreement, in addition to any legal remedy available, SLCWCD may, at its sole discretion, send written notice of said default to MWD. If the default is not cured within thirty (30) days of said written notice, SLCWCD may either suspend the exchange of capacities provided for herein, or terminate this Agreement in its entirety. 11 13 . Neither this Interlocal Agreement nor any interest therein shall be assigned by either MWD or SLCWCD without the written consent of the other, but MWD and/or SLCWCD may use this interlocal Agreement as security in their respective financing plans . 14 . This Interlocal Agreement represents the complete and entire agreement among MWD and SLCWCD, as approved by SLC and Sandy, regarding the subject matter hereof and supersedes all prior agreements , representations , conversations and understandings of the parties , whether written or oral , concerning the subject matter hereof . This Interlocal Agreement may be amended only by written instrument executed by MWD and SLCWCD and approved by SLC and Sandy. 15 . This Interlocal Agreement shall be governed by the laws of the State of Utah. 16 . In the event any legal action or other proceeding is brought for the enforcement of this Interlocal Agreement or because an alleged dispute, breach, default or misrepresentation in connection with any of the provisions hereof, the successful or prevailing party shall be entitled to recover reasonable attorneys ' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 12 17 . Any notice , demand or request authorized or required by this Interlocal Agreement shall be deemed to have been given when mailed, postage prepaid, or delivered to: Metropolitan Water District of Salt Lake City General Manager 170 South Main Street, Suite 650 Salt Lake City, Utah 84101 . Salt Lake County Water Conservancy District General Manager 8251 South 1300 West West Jordan, Utah 84088 Salt Lake City Corporation Director, Department of Public Utilities 1530 South West Temple Salt Lake City, Utah 84115 Sandy City Corporation Director, Department of Public Works 8775 South 700 West Sandy, Utah 84070 The designation of the addressee or the address given above may be changed by notice given in the same manner as provided in this paragraph. 18 . This Interlocal Agreement shall automatically terminate on December 31 , 2001 without further notice to any of the parties hereto, except for paragraphs 8 and 9 herein, which shall continue in full force and effect until December 31 , 2001 , and thereafter for successive terms of five ( 5) years each unless terminated by either party on December 31, 2001 or at the 13 expiration of any successive five ( 5 ) year term thereafter upon one year' s prior written notice to the other party. IN WITNESS WHEREOF, the parties hereto have executed this Interlocal Agreement the date and year first above written. ATTEST: METROPOLITAN WATER DISTRICT • OF SALT LAKE CITY By Secretary Chairman ATTEST: SALT LAKE COUNTY WATER CONSERVANCY DISTRICT A-Yes ident Secretary (117 APPROVED BY: ATTEST: SALT LAKE CITY CORPORATION By City Recorder Mayor ATTEST: SANDY CITY CORPORATION By City Recorder Mayor 10\JN\16002.001\10000.Agrnnt 14 cJ LEROY W. HOOTON, JR. DIRECTOR WENDELL E. EVENSEN, P.E. S A ' �� Q 9401 � TRH SUPERINTENDENT rsL WATER SUPPLY&WATERWORKS E. TIM DOXEY DEPARTMENT OF PUBLIC UTILITIES SUPERINTENDENT Water Supply & Waterworks PALMER DEPAULISWATER RECLAMATION Water Reclamation MAYOR JAMES M. LEWIS, C.P.A. CHIEF FINANCE& 1530 SOUTH WEST TEMPLE ACCOUNTING OFFICER SALT LAKE CITY, UTAH 84115 GEORGE JORGENSEN, P.E. CHIEF ENGINEER December 28, 1989 TO: Salt Lake City Council RE: Interlocal Agreement Between Salt Lake City Corporation and Sandy City Corporation Regarding Little Cottonwood and Richards Ditch Wells and Sale of Surplus Water. Recommendation: That the City Council approve the agreement and forward it to the Mayor for execution in behalf of the City. Availability of Funds: Not applicable Discussion: As part of Sandy City' s petition for annexation into the Metropolitan Water District of Salt Lake City (District ) and the District ' s Resolution No. 1633, Salt Lake City exchanged with the District 2, 000 acre-feet of water in the Little Cottonwood and Richards Ditch Wells, including the wells and equipment, for 2, 000 acre-feet of water rights in the Little Dell Project. The District in turn will sell the water rights and wells to Sandy City for use within Sandy City. This exchange of water rights was approved by the City Council on December 12, 1989, in Interlocal Agreement (C89-672. ) This agreement provides for the sale of surplus water that Salt Lake City has retained in the two wells to Sandy City. Also, provides that Sandy City shall equip the two wells at their expense, but provide Salt Lake City with the access to the wells for delivery of the City' s retained water rights into its culinary water distribution system and/or to meet irrigation exchange obligations. The agreement also provides that ownership of the wells (including improvements ) shall revert back to Salt Lake City in the event that annexation does not occur. Sincerely, ,4 !;7 , LeRoy W Hooton Jr. Director LWH:mfs RESOLUTION NO. OF 1990 AUTHORIZING THE EXECUTION OF AN INTERLOCAL COOPERATION AGREEMENT BETWEEN SALT LAKE CITY CORPORATION (CITY) AND SANDY CITY CORPORATION (SANDY) WHEREAS, Title 11, Chapter 13, U.C.A. , 1953, as amended, allows public entities to enter into cooperative agreements to provide joint undertakings and services; and WHEREAS, the attached agreement has been prepared to accomplish said purposes; THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah: 1. It does hereby approve the form and substance of the attached agreement, which is one of several agreements necessary for Sandy City' s annexation into MWD. This one is entitled "Interlocal Agreement between Salt Lake City Corporation and Sandy City Corporation Regarding Little Cottonwood and Richards Ditch Wells and Sale of Surplus Water. " This agreement covers the sale of surplus City water from the Little Cottonwood and Richard' s Ditch Wells and controlling the City' s and Sandy' s removal of water therefrom. 2. Palmer A. DePaulis, Mayor of Salt Lake City, Utah, is hereby authorized to execute said agreement on behalf of Salt Lake City Corporation and to act in accordance with its terms, subject to any minor changes which do not materially affect the rights and obligations of the City thereunder. Passed by the City Council of Salt Lake City, Utah, this day of , 1990. SALT LAKE CITY COUNCIL By CHAIRPERSON ATTEST: CITY RECORDER MAYOR ATTEST: RLM:rc -2- INTERLOCAL AGREEMENT BETWEEN SALT LAKE CITY CORPORATION AND SANDY CITY CORPORATION REGARDING LITTLE COTTONWOOD AND RICHARDS DITCH WELLS AND SALE OF SURPLUS WATER THIS AGREEMENT is entered into in Salt Lake City, Utah, this day of , 19 , by and between SALT LAKE CITY CORPORATION, a municipal corporation of the State of Utah (hereinafter "SLC" ) and SANDY CITY CORPORATION, a municipal corporation of the State of Utah, (hereinafter "Sandy" ) . WITNESSET H: WHEREAS, Sandy by its Resolution No. 88-40C dated May 17 , 1988 , determined it to be in the best interests of Sandy and its inhabitants to annex into and become a part of the Metropolitan Water District of Salt Lake City (hereinafter MWD) and pursuant thereto, Sandy filed its application with the Board of Directors of MWD for consent to annex Sandy into MWD; and WHEREAS, the Board of Directors of MWD, by its Resolution No . 1633, dated January 9, 1989 , made and entered its Order granting Sandy' s application and fixing the terms and conditions upon which Sandy may be annexed into and become a part of MWD, and transmitted to the governing body of Sandy a copy of its Order granting Sandy' s application and containing the terms and conditions thereof ; and WHEREAS, SLC is within the boundaries of MWD and is the owner of the Little Cottonwood Well, situated at approximately 2300 East and Little Cottonwood Creek, together with the right to the use of six ( 6 . 0 ) cubic feet per second ( "cfs" ) of water therefrom for year around municipal use in Salt Lake City and Salt Lake County evidenced by application No. 57-2403 (A25558b) as amended by Change Application No . a-3508 , both approved by the Utah State Engineer on July 28, 1959 , and four ( 4 . 0 ) cfs of water therefrom for year around municipal use evidenced by Application No. 57-2405 (a25558d) , as amended by Change Application No. a-3853, both approved by the Utah State Engineer on May 28 , 1962 ; and WHEREAS, SLC is the owner of the Richards Ditch Well situated at approximately 2700 East and Little Cottonwood Creek, together with the right to the use of two and one- half ( 2 . 5 ) cfs of water therefrom for exchange of waters of Little Cottonwood Creek for year around domestic and municipal use evidenced by Underground Water Claim No. 4834 (57-4408 ) filed in the Office of the State Engineer on February 29 , 1936 ; and WHEREAS, on June 10 , 1986 , MWD entered into a Local Cooperation Agreement ( "LCA" ) with the Department of the Army ( "Corp. of Engineers" ) and Salt Lake County for the construction of the Little Dell Lake Reservoir, comprising a 20, 500 acre-feet ( "AF" ) reservoir (the "Little Dell -2- Project" ) , which is under construction and is scheduled for completion in the month of October 1991 , and when completed will develop an average of 7 , 940 AF annually of municipal and industrial water; and WHEREAS, MWD is the owner of an undivided right to the use of an average of 5, 218 AF of water annually (or as adjusted pursuant to that certain Interlocal Agreement between MWD and SLC dated August 16 , 1988 ) evidenced by Approved Application No. 57-3282 (A34877 ) covering the diversion of 27 , 800 AF of water from Parleys Creek and Little Dell Creek for storage in the proposed 20 , 500 AF Little Dell Lake Reservoir on Dell Creek in Salt Lake County, Utah; and WHEREAS, to satisfy in part the terms and conditions of annexation as set forth in paragraph 10 of MWD' s Resolution No . 1633 , it is necessary that MWD enter into an interlocal agreement with SLC, whereby MWD will acquire SLC ' s Little Cottonwood Well, Richards Ditch Well, well sites and facilities relative thereto, together with a divided right to the use of 2, 000 AF of water annually from the Little Cottonwood Well and in exchange therefor SLC will acquire a divided right to the use of 2, 000 AF of water annually from Little Dell Lake Reservoir, and it is necessary that MWD enter into an interlocal agreement with Sandy to sell to Sandy, the Little Cottonwood Well, Richards Ditch Well, well sites and facilities relative thereto, together with a -3- divided right to the use of 2, 000 AF of water annually from the Little Cottonwood Well for the sum of $250, 000 . 00; and WHEREAS, SLC has retained all of its other water rights in said two wells; and WHEREAS to satisfy, also in part, the terms and conditions of annexation as set forth in paragraph 10 of MWD' s Resolution No. 1633 , it is necessary that Sandy enter into an interlocal agreement with SLC to provide for Sandy' s equipping and operating said two wells to provide water for SLC and surplus water for sale to Sandy from said two wells prior to annexation of Sandy into MWD, and, after said annexation and the exchange of wells and water rights between SLC and MWD and the sale to Sandy of said two wells and 2, 000 AF water right, for SLC to make available for sale to Sandy, water therefrom which is surplus to SLC ' s needs and in excess of said 2 , 000 AF of water annually. NOW, THEREFORE, in consideration of the mutual benefits which will accrue to the parties hereto, the parties agree as follows : 1 . The parties acknowledge that SLC retains all of its said water rights in and ownership of the Little Cottonwood Well and the Richards Ditch Well until said 2 ,000 AF water right and the wells and related facilities are transferred to Sandy upon its annexation into MWD and SLC receives said 2 , 000 AF water right in Little Dell Lake Reservoir pursuant to the Escrow Agreement attached hereto. -4- 2 . Sandy may, prior to annexation into MWD, at its sole cost, install, upgrade, equip, maintain and operate said wells , including Sandy' s connections, meters and facilities related thereto, in a manner acceptable to SLC. SLC will retain and maintain an adequate connection to the Little Cottonwood Well to direct any discharge into SLC ' s distribution system and/or Little Cottonwood Creek. SLC may, at its sole cost, install and maintain an adequate connection from the Richards Ditch Well for discharge required by SLC into its system and/or Little Cottonwood Creek. 3 . If said annexation of Sandy into MWD fails to occur on or before January 2 , 1992 , SLC shall resume operation of said wells thereafter, and retain all improvements thereto without any cost or expense therefor whatsoever. 4 . SLC shall have the right to protect and maintain its existing and future water rights in said wells to the extent that if Sandy fails to properly operate and maintain either or both of said wells for delivery of SLC' s water to SLC, and Sandy fails to correct such failure within thirty ( 30 ) days after prior written notice, SLC may assume the operation and/or maintenance thereof until Sandy pays SLC for its costs incurred for curing Sandy' s failure and Sandy resumes the operation and maintenance of said wells . 5 . SLC shall have the right to transfer other water rights to either or both of said wells to provide additional -5- water right therein. After January 2, 1992 , SLC shall have the right to transfer SLC' s water rights from said wells if said wells will not produce sufficient quantities of water to satisfy both SLC' s needs and/or surplus water for Sandy' s needs . Sandy will not claim or apply to the State Engineer for any water right in either of said two wells , other than (after said annexation) that right mentioned in paragraph 1 hereof , or transfer any of its other water rights to either of said wells without the prior written consent of SLC. 6 . Both prior to and after annexation, SLC shall have the right to use said wells for the production of water for its system. After annexation, such water may be removed therefrom concurrently or while Sandy is not withdrawing part of its 2, 000 AF therefrom. Whether before or after annexation, SLC will notify Sandy of SLC' s needs and Sandy will deliver water to meet SLC' s and Sandy' s needs with equal priority, subject to the provisions of paragraph 9 hereof . Upon delivery SLC will pay Sandy' s reasonable cost for operation and maintenance of said wells for delivering said water to SLC. The cost therefor shall be billed to SLC monthly on a cost per acre foot delivered basis . 7 . When SLC is not using its said water, Sandy may buy surplus water pursuant hereto from SLC only in quantities and at rates authorized in writing by SLC' s Director of Public Utilities . When Sandy removes such surplus water for its use, Sandy will bear all the costs of its own operation and maintenance of said wells . -6- 8 . Except for costs in connection with any approvals or changes in the present filing of said Underground Water Claim No. 4834 ( 57-4408 ) , after Sandy' s annexation into MWD, Sandy shall pay all costs associated with obtaining the State Engineer' s approval, if necessary, to use surplus SLC water from the Richards Ditch Well, and/or the transfer of part or all of its said 2 , 000 AF water right to the Richards Ditch Well . 9 . In no event after annexation, shall Sandy pump either of said wells under Sandy' s said 2,000 AF water right at a combined rate greater than 4 cfs without SLC ' s prior written consent. 10 . In the event that either or both of said wells prove wholly or partially unable to deliver water at any time, Sandy acknowledges that they were equipped at Sandy' s sole risk, and that under said annexation terms and conditions the wells and related facilities were exchanged by SLC to MWD and sold by MWD to Sandy as is and without any warranties as to quality, quantities of water removable from said wells , use or fitness for purpose, and any losses therefrom shall be solely Sandy' s . 11 . Sandy will install at its sole cost, and to SLC ' s specifications, all necessary shut-off valves and meters for said wells so that SLC can control and measure the amount of surplus water used therefrom by Sandy. Sandy shall maintain said valves and meters to SLC specifications . -7- 12 . During the period from the date of this Interlocal Agreement to January 2 , 1992 , Sandy may pump, at Sandy' s sole expense, and use free of charge from SLC, surplus SLC water up to a total of 2, 000 AF of water annually from said Little Cottonwood Well and/or the Richards Ditch Well . Sandy shall pay only MWD therefor pursuant to Sandy' s and MWD' s Interlocal Agreement for equipping both of said wells . For any SLC surplus water taken during said period from either of said two wells in excess of said 2, 000 AF, Sandy shall pay SLC pursuant to paragraph 13 hereof . After January 2, 1992, if Sandy is not annexed into MWD, Sandy shall pay SLC monthly all of SLC' s reasonable operating and maintenance costs on said two wells for delivering any surplus water therefrom to Sandy, and one-half of the charge stated in paragraph 13 for the first 2 , 000 AF of surplus water until Sandy' s payments are complete to MWD under said Interlocal Agreement between Sandy and MWD to equip said wells, and during the same period and thereafter for all other SLC surplus water taken from said two wells pursuant to paragraph 13 hereof . If Sandy is annexed into MWD on or before January 2 , 1992 , Sandy will pay SLC pursuant to paragraph 13 hereof for all water taken by Sandy for its use from said two wells in excess of the 2 , 000 AF water right mentioned in paragraph 1 hereof . 13 . SLC will at all times be provided with access to said valves and meters by Sandy, and SLC shall from time to -8- time, read the meters and compute the amount of water used by Sandy, which will be billed to Sandy at the same rate per acre foot as MWD' s highest charge to SLC for treated water during the same period. Sandy shall pay said charges within thirty ( 30 ) days after a statement is forwarded by SLC. 14 . Sandy will receive all water made available hereunder by SLC "as is" with no representation by SLC as to quality or purity. SLC shall be under no obligation to render said water fit or suitable for human consumption or any other of Sandy' s intended uses or purposes . 15 . SLC will receive all water made available hereunder by Sandy "as is" with no representation by Sandy as to quality or purity. Sandy shall be under no obligation to render said water fit or suitable for human consumption or any other of SLC ' s intended uses or purposes . 16 . Either after Sandy' s said annexation, or if said annexation fails , it is understood and agreed that SLC has obligations to deliver water to others , and this Interlocal Agreement is made only as to presently surplus waters in excess of SLC ' s other needs and obligations , and if at any time and for any reason, in it' s sole judgment (which will not be exercised in an arbitrary or capricious manner) , SLC determines that there is no surplus water available hereunder, SLC may, without any liability therefor whatsoever, cancel and terminate that portion of this Interlocal Agreement applying to the sale of surplus water -9- upon ninety ( 90 ) days prior written notice to Sandy, except in an emergency which involves the health, safety and welfare of the City' s residents , in which event SLC may suspend such surplus water sales for the duration of the emergency. 17 . In the event that Sandy shall default in the performance of any provision of this Interlocal Agreement, in addition to any other legal or equitable remedy available, SLC may, at its sole discretion, send written notice of said default to Sandy. If the default is not cured within thirty ( 30 ) days of said written notice, SLC may suspend delivery of surplus water to Sandy or terminate this Interlocal Agreement. 18 . Any notice, demand or request authorized or required by this Interlocal Agreement shall be deemed to have been given when mailed, postage prepaid, or delivered to the following or such other address as either party or the approving party may designate in writing: Salt Lake City Corporation Director, Department of Public Utilities 1530 South West Temple Salt Lake City, Utah 84115 Sandy City Corporation Director, Department of Public Works 8775 South 700 West Sandy, Utah 84070 Metropolitan Water District of Salt Lake City General Manager 170 South Main Street, Suite 650 Salt Lake City, Utah 84101 -10- 19 . Sandy agrees to indemnify, save harmless and defend SLC, its agents and employees , from and against any loss , cost or expense, including attorney' s fees, resulting from any injury to or death of any person, or damage to property, arising out of the water furnished to and/or Sandy' s use thereof hereunder and its failure to reasonably and properly operate and maintain said wells . Except for SLC' s cost as set forth in paragraph 4 hereof, SLC agrees to indemnify save harmless and defend Sandy, its agents and employees, from and against any loss, cost or expense, including attorney' s fees, resulting from any injury to or death of any person, or damage to property, arising out of SLC' s failure to reasonably and properly operate and maintain said two wells to obtain water for SLC under the provisions of paragraph 4 . 20 . Neither this Interlocal Agreement nor any interest therein shall be assignable by either party without the prior written consent of the other and the approving party. 21 . This Interlocal Agreement represents the complete and entire Agreement among SLC and Sandy, as approved by MWD regarding the subject matter hereof and supersedes all prior agreements, representations, conversations and understandings of the parties , whether written or oral, concerning the subject matter hereof , except as it may be controlled by the provisions of MWD' s said Resolution No . 1633 dated January 9 , 1989 , and that said Interlocal -11- Agreement between Sandy and MWD for equipping said wells . This Interlocal Agreement may be amended only by written instrument executed by SLC and Sandy and approved by MWD. IN WITNESS WHEREOF the parties hereto have executed this Agreement to be effective as of the day and year first above written. SALT LAKE CITY CORPORATION By MAYOR ATTEST: CITY RECORDER SANDY CITY CORPORATION By MAYOR ATTEST: CITY RECORDER APPROVED BY: METROPOLITAN WATER DISTRICT OF SALT LAKE CITY By CHAIRMAN ATTEST: -12- SECRETARY RLM: cc t3 -13- yf F _ El [2�1 1?II p�if11y¢A�1V��f1T1 PALMER DEPAULIS :►r �� j��.� y% PIPAI MAYOR OFFICE OF THE MAYOR CITY AND COUNTY BUILDING 451 SOUTH STATE STREET, ROOM 306 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7704 January 9 , 1990 Alan Hardman , Chair Salt Lake City Council 451 South State Street Salt Lake City , UT 84111 Dear Alan : After a national search and intensive interviews I have selected Dennis M. Sargent , former Fire Chief of Myrtle Beach , South Carolina , to be Salt Lake City Fire Chief. Dennis was the Myrtle Beach Fire Chief from 1986 to 1989 . In that capacity , he was responsible for providing fire protection and emergency medical services to a population that ranges from 30 ,000 people in the winter to more than 350 ,000 during the summer months . In addition , while Fire Chief, Dennis initiated an advanced life support emergency medical program and a community fire education program. Dennis ' record is outstanding and I know he will be a fine Fire Chief for Salt Lake City . I would appreciate your consideration of this appointment and ask that it be scheduled on the Council ' s agenda at the earliest convenience . Sincerely , 4, Mayor PD/EC : jf F %qL SAN 01VSW U. Of OFFICE OF THE CITY COUNCIL CITY AND COUNTY BUILDING 451 SOUTH STATE STREET, SUITE 304 SALT LAKE CITY, UTAH 84111 535-7600 January 12, 1990 MEMORANDUM TO: COUNCILMEMBERS FROM: ED SNOW RE: BACKGROUND MMERIALS FOR SLACC BRIEFING. Agenda items F-1 and F- relate to the Community Development Block Grant allocation which the Council made for fiscal year 1989-90. A review of the Administration's documents included here will give basic background information. Staff is recommending that you refer these two items to Committee of the Whole for discussion. It has been tentatively scheduled for Thursday, January 18. At that time representatives from Capital Planning and SLACC will brief you on the background. If you have questions before that time, please let me, Lee or Cindy know. F ( RE E#VEf' JAN 08 1990 MAYOR'S OFFICE ROSEMARY DAVIS t 2212%N 111 V/ al" ILO DIRECTOR DEPARTMENT OF DEVELOPMENT SERVICES Capital Planning and Programming CITY AND COUNTY BUILDING 451 SOUTH STATE STREET, ROOM 418 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7902 January 4 , 1990 TO: Alan G. Hardman 2 FROM: Rosemary Davi Z;)/1-tr--J SUBJECT: SLACC Staffing RECOMMENDATION: City Council release the $50, 000 that was allocated for SLACC funding at the May 6, 1989 , City Council Meeting. FUNDING: $50,000 from CDBG (Community Development Block Grant) funding. BACKGROUND DISCUSSION: The City Council on May 6, 1989, moved to allocate $50 , 000 for SLACC staffing but not appropriate the money until the issues regarding the ordinance and budget are resolved. The Mayor met five times with the Community Council Chairs and the SLACC Executive Board to develop an outline of requisites for the ordinance. It was agreed that there would be two ordinances; a Recognition ordinance and an Early Notification ordinance. The City Attorney' s office has been working on the drafts based on the outline developed at those meetings. The Recognition and Notification ordinances are now in final draft and will be reviewed by the Community Council Chairs and the SLACC Executive Board. The drafts are expected to come before the City Council in February. The SLACC budget which had not been submitted May 6 , 1989, has been prepared and is attached. As indicated in the budget, a Director and an hourly person will be hired and will be responsible to the SLACC Board through the Chair for the implementation of policies and programs as assigned by SLACC. This position compliments but does not duplicate the services available through the Community Affairs Office. The responsibilities will include administrative, planning and programming, and community relationships. A complete job description is attached for your review. In addition, the SLACC staff will be housed in the Capital Planning office temporarily and Capital Planning will donate a telephone, office supplies, and some clerical services. With the budget completed and the Recognition and Notification ordinances in final draft (attached) , SLACC would like to begin receiving funding in order to hire the coordinator. LEGISLATIVE ACTION: No formal legislative action is necessary. The $50, 000 has been appropriated in the FY 89/90 CDBG Budget, however, we would like the opportunity to discuss this prior to the release of the funds . CONTACT PERSON: Rosemary Davis , 535-7123 and Stephanie Peterson, 535-7915 cc: Emilie Charles Stephanie Peterson Becky Sanchez Stan Penfold Attachments SAUROSEMARY DAVIS ' ,�aQJ j ' M, R IKANi DIRECTOR DEPARTMENT OF DEVELOPMENT SERVICES Capital Planning and Programming CITY AND COUNTY BUILDING 451 SOUTH STATE STREET, ROOM 418 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7902 January 2, 1990 TO: Alan G. Hardman FROM: Rosemary Davis :_ fur y. SUBJECT: Recommendation for Funding the Community Development Corporation (CDC) From 15th Year CDBG Funds RECOMMENDATION: That 15th year CDBG funds be released to the CDC in accordance with the recommendations made by the task force (report attached) . In addition to the recommendation in the report, an additional Board Member appointed by the City should be added to the Board. This member should be a City employee from the Capital Planning Division. DISCUSSION: Concept: The Community Development Corporation (CDC) concept is based on the premise (and proven experience) that often the most creative and effective mechanisms for community change arise out of latent human resources within neighborhoods . Developing this potential by involving government as a catalyst to promote and assist CDCs began in the 1950's and 1960 ' s. Some cities have scores of them. Even Denver , our nearest urban neighbor has twenty-two. Salt Lake City has one: Neighborhood Housing Service. CDCs are usually non-profit organizations (although they can be subsidiaries of for-profit organizations such as a lending institution) which generally have full-time paid professional staff and a Board of Directors to set policy and define objectives . They are supported by volunteers who work within the neighborhood or community to cultivate essential political, financial, technical and manpower reserves. While they may not be financially independent of government funding initially, they strive to be, or at least not be wholly dependent on government, contributions from private trusts and foundations. Their missions are diverse and wide-ranging but always they are looking for solutions to problems that concern the people who support them. Most often, housing and neighborhood conditions are their principal targets, but small business interests and economic development may also be on their agenda . The CDC Role: CDCs are in large part partnership-forming and coordinating entities. They function to effectively direct available resources toward problem solution. Unlike government agencies , they are owned, operated, and managed by the special interests who promote them. They are task-specific oriented and exist only to meet their objectives. While they may use government funding, and often form alliances with governmental bodies to accomplish their goals , they also haste access to private capital . City agencies such as housing authorities and redevelopment agencies do not, and can not function as CDCs (even though they may be an important partner in finding the solution to a particular problem) because they are usually too broadly focused, their leadership is from "top down" rather than "bottom up" , and they do not have access to non-profit funding or the capacity to coordinate volunteer manpower resources. The Salt Lake City CDC as Recommended by the Task Force: In recent years, as the federal government has sought to withdraw direct intervention in community affairs (especially commitments for funding) , the feds have become more interested in the CDC concept. There is every indication that CDCs and other NON- Profit organizations will be asked to assume increasing roles and be offered greater financial incentives to do so in the foreseeable future. In their meeting of May 16 , 1989 , the City Council adopted a motion as part of their consideration of the 15h year CDBG budget to fund a Community Development Corporation pending the findings of a CDC task force as to the need for the structure of a CDC. The specific charge of the task force was: 1. Review the range of community housing needs that can be accommodated within the context of the CDC, 2. Investigate and report to the Mayor and Council within three months as to the need for a CDC and the housing problems it may be expected to address, 3 . Report whether SLACC should incubate the CDC or whether they recommend another sponsor . The study by the task force is now complete and a copy of their written report which addresses the following considerations is attached: . The CDC will be organized as a non-profit corporation with one trustee selected by, and for , each of the community councils , . The CDC will he organized as a non-profit corporation with one trustee selected by, and for, each of the community councils, two by and for SLACC, and up to five at large appointed by the rest of the board based on their technical qualifications. The Director will be a salaried position to be hired by the Board of Directors. . The CDC will operate City-wide but will use a model block approach. . A model block program was selected as the most appropriate and effective way to deal with general community problems of boarded-up housing, in-fill housing and neighborhood deterioration. Specific geographic areas are to be selected within Community Council districts for concentrating CDC resources . . The CDC will initially operate from the ASSIST office. This will allow the new organization to share space, equipment and personnel until it is sufficiently staffed to be independent. In addition to their feasibility/organizational study, the task force has prepared a budget for first year operations and met with SLACC and CDAC and received votes of support for their proposed program. The process now requires that the task force meet with the Mayor and City Council and report on their minutes, that the Council must pass a motion to release funds to the program similar to the action recently taken for the Stiener Aquatics projects. When this step has been completed, the Board of Directors can be appointed and they will initiate the formal procedures and incorporation, adopting bylaws , and hiring a Director to begin operations. FUNDING: $80 , 000 was set aside in the 15th year CDBG budget. In addition, $71, 649 was also awarded to the CDC from past year ' s CDBG slippage through the November, 1989, budget opening. This brings the total to $151,649. ACTION REQUIRED: This item should be scheduled for an early January Council Agenda and a motion made to accept the task force ' s report, release the funds to the CDC in accordance with regular City procedures, and an additional Board member (from the Capital Planning Staff) be appointed by the City. LEGISLATION DOCUMENT: As above CONTACT PERSON: Rosemary Davis, 535-7123 cc: Emilie Charles Roger Borgenicht Stan Penfold REPORT BY THE SLACC TASK FORCE ON THE FEASIBILITY OF ESTABLISHING A SALT LAKE CITY BASED COMMUNITY DEVELOPMENT CORPORATION History In October 1988 Roger Borgenicht, of Assist, Inc. submitted an application to Salt Lake City for Community Development Block Grant funds. The purpose of the grant application was to create a Community Development Corporation (CDC). This CDC would purchase and rehabilitate vacant and boarded up homes in Salt Lake City, then offer them for sale to moderate and low income home buyers. Funds were allocated by the City Council on May 16, 1989 for a CDC contingent on the Salt Lake Association of Community Councils (SLACC) appointing a task force of 5-10 individuals for the purpose of conducting a study. The committee was charged by the City Council with responsibility for: 1. Review of the range of community housing needs that can be accommodated within the context of the CDC, 2. Investigate and report to the Mayor and Council within three months as to the need for a CDC and the housing problems it may be expected to address, 3. Report whether SLACC should incubate the CDC or whether they recommend another sponsor. The Task Force Starting on August 7, 1989 a group of citizens met as a committee chartered by SLACC to discuss the need for and feasibility of forming a community based development corporation. Since that time the committee has been meeting on a weekly basis. The first meeting was an introductory meeting: group members became acquainted and introductory materials describing the goals and organization of Community Development Corporations were distributed. The task force z initiated a search for a cc .non, neighborhood-based purpm or a Community Development Corporation. The Range of Community Housing Needs The task force reviewed a wide range of housing related needs that a community development corporation could address, These included a model block program, rehabilitation of boarded up houses, in-fill housing, at risk housing, low interest rehabilitation loans, single room occupancy units, and urban apartments. After discussing these options the task force members established a model block program as a first priority. Based on the belief that a coordinated approach is essential for neighborhood preservation and improvement. The model block program represents a means of improving the aesthetic and social value of living in a neighborhood. The model block residents would be organized through the local Community Council to conduct model block actives such as initiating zoning changes, minor repairs, landscaping, painting and similar low cost home improvements. Many elements of the model block program could be financed by residents and existing city programs. The task force therefore concluded that the needs best met by a community development corporation would be those that could be organized as model block projects, and that rehabilitating boarded up homes or providing in-fill housing could be a critical part of certain model block projects. Boarded up houses were seen as a problem, especially if they occur in an otherwise stable neighborhood. These unoccupied boarded up homes sap neighborhood spirit, reduce residential investment, and breed social problems. The task force recommends only undertaking the rehabilitation of a boarded up house if the residents in the surrounding neighborhood are willing to participate in a model block program. In-fill housing was discussed in the context of a need within a model block. Abandoned lots are not a welcome part of any neighborhood. A relatively inexpensive method for handling in-fill housing would be to relocate a home donated by a developer onto a vacant lot. Funding for the CDC was not sufficient to deal with low interest rehabilitation loans, single room occupancy units, and urban apartments. 3 Need For A Community Development Corporation The task force members noted that the day time population within the boundaries of Salt Lake City is in excess of 300,000 people. This exceeds the 157,000 who reside in the city. The corresponding demand for new commercial property has been satisfied at the cost of housing. Commercial encroachment into otherwise viable neighborhoods is seen as a significant problem. As a result many neighborhoods lack the cohesiveness and spirit of community that existed even ten years ago. The task force determined that any project must seek to involve the entire neighborhood, and improve the sense of community. The purpose of the CDC is undertaking development projects that promote civic identity, community spirit, and stability in the residential population. Due to the limited funds available it was agreed that the Community Development Corporation would need to: 1. Deal with only the most pressing neighborhood development needs in order of priority, 2. Serve in an advisory capacity to community councils when dealing with other problems (such as zoning). This may include providing the community with the technical assistance needed to coordinate their model block activities. Incubation The task force members believe that the funding allocated for the formation of a community development corporation is extremely limited. The task force members considered ways to leverage these resources to the fullest extent possible. It is clear that project funds can be increased by reducing the amount spent on administration. At the same time, it seems desirable to have a professional staff with the knowledge and personal energy required to develop additional sources of funding. These two apparently conflicting objectives can be resolved if the CDC shares facilities with another organization. In addition to reducing the cost of operating the CDC in its first year the task force feels this type of relationship will increase the potential for private sector funding. The director of the new community development corporation will benefit from sharing the experience and contacts already developed and nurtured through the operation of an existing organization. Therefore the task force recommends for the 1989-90 fiscal year the CDC share offices with ASSIST, Inc. This recommendation is contingent on the approval of SLACC and ASSIST boards, The task force believes that the structure of the board of trustees will assure that control over the operations of the CDC will remain with SLACC and rite eight community council districts. The CDC's board will rely on the community councils to identify suitable projects within the neighborhoods. It is the perogative of the CDC's board of trustees to select projects from the community council model block programs. Area of Operation The committee discussed the.value of having a target area. While this seems desirable, it was noted that viable boarded up residential property exists in all areas of the city. The committee believes that accepting a model property/ neighborhood as a pilot project will provide the necessary focus. It is anticipated that each community council district will be working on planning, implementing and completing a project. The CDC will therefore be able to operate in all areas within Salt Lake City, contingent on the availability of appropriate funding. Since the initial funding is from Community Development Block Grant funds the pilot project will occur in an area that is eligible for those funds. Organization The need for broad based community support was deemed essential, The committee agreed that the CDC should be a non-profit corporation. After reviewing the history and purpose of the CDC it was decided that the initial board of trustees should consist of ten people. One individual would be selected by each of the eight community council districts. Two individuals would be selected by SLACC. After the CDC is formed up to five technical / at large trustees could be named by the initial board. These individuals would have special skills or access to resources of value to the CDC. For example, these trustees may include persons from City government, the financial services community, real estate sales, and the construction industry. The board of trustees will be responsible for fund raising, se—ction of S projects, legal function of the CDC, policy making, hiring of staff, (CDC Director) and coordination of projects with neighborhood councils and SLACC. Each one of the eight community council representatives will chair a neighborhood CDC committee in their own community council area. These committees will examine and recommend projects for their area, work to build neighborhood participation, monitor on-going projects in the neighborhood and coordinate funding. The term of office would be two years for trustees. Funding The Salt Lake City Council has approved $80,000 for a CDC during fiscal year 1989-90. A tentative budget for the expenditure of that amount is attached. � �Cnmmumty �o»o\ooment �ornvroUon ��FTF�� D|��U��|�m --- Budget | / |� --------'-------- ---------- '----------- -- ----' /na; 1. 79�� - Juno30. 19g0 (Omos) . Annual-______I O-MmLh Budop� --�- r- �----- ---'---`~= If-I FL--- DPv+),pmonf. Director (25.000 - 30.000) / 50000 i 20l00 -___- - -- T F (1� 251,9 750() 504.� Liability | (not incl U&U) 200U ------------ I(N.-,te: _rle City Council has stated an intent to add L-------'---�'---'-------------------- -------------- --' $ 1989-199c CDC budget. [_T_he5�, f,und-1 would be uspd to help leverage project costs) --i ` . ---- ! | ! | 0�roctorTime (20�) ! ' 6600. . 4422 / _ -_ 0/ i[e AJminTimo (10�) | ! 1740! 1166 Pent,/Utilities 5�0O| aint. E4uip) . 1000� ------- -----'---- - -----------' ---- ------'---- ��l PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, MAY 16, 1989 Geneva Rock UNFINISHED COUNCIL BUSINESS Ease $676, 562. 05 #1. RE: An appropriation Alternate A $437 , 198 . 02 resolution adopting a final state- Alternate B $283 , 443 . 12 ment regardinq_15th Year Community Alternate C $6, 710 . 00 -Nvelopment Block Grant 'undino , 9-90) and- approving an Inter- Workman Construction local Cooperation Agreement be- tween Salt Lake City Corporation Ease S801 , 961 . 50 and the United States Department Alternate A $428 , 049 . 00 of Housing and Urban Development Alternate B S338 , 252 . 00 concerning the same. Alternate C $7, 200 . 00 NOTE: Councilmember Hardman M.C. Green & Sons relinquished the chair to Council Chair Stoler for this item of Ease S674 , 379 . 99 business so Mr. Hardman could Alternate A $445 , 725 . 00 participate in the debate. Alternate B $341 , 405 . 00 Alternate C $4, 790 . 00 ACTION: Councilmember Hard- man moved and Councilmember Hor- Western Quality Concrete rocks seconded to reduce funding for the Community D.evelopment Base $623 , 075 . 50 Corporation by( 550, 0 Q) reducing Alternate A $469 , 675 . 00 it to $100, 000, and increase Alternate B $371 , 090 . 00 funding for the Redevelopment Alternate C $5 , 550 Agency housing rehab program by $50, 000, increasing it to $700, - Mr. Lyon said that using 000; and any slippage from 15th pavement alternate L, which was Year projects which becomes avail- lower in bid price from all four able during the year be applied contractors, Geneva Rock was the toward the CDC project which is apparent low bidder. He said this currently funded, pending the bid was slightly below the engi- findings of the task force, which neer ' s estimate . motion carried, all members voted ( Q 87-1 ) aye except Councilmember Kirk who voted nay. #3. RE: A joint resolution of support for a favorable vote on Councilmember Hardman moved the General Obligation Fend issue and Councilmember Horrocks second- for a new jail facility before ed to reduce funding for the Salt Lake voters on May 23 , 1989 . Community Development Corporation by $50, 000, reducing it to $50, - ACTION: Councilmember:- Stoler 000, and _allocate S50L00.0_ for moved end Councilmember Godfrey SLACC staffing but not appropriate seconded to suspend the rules and the money until the issues regard- cn first reading adopt Resolution ing the ordinance andbudget -_are 67 of 1989, which motion carried, resolved; and that the remaining_ all members voted aye . $50, 0.00 in the CDC line item be. (R 89-1 ) for start up costs for a_Commun-ity n- Development Corporatiowithout- a designated sponsor at_ this time;. and that a task force consisting of 5-10 individuals with expertise and interest in housing problems , PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, MAY 16, 1989 finance, neighborhoods, and other `_ Hardman first made a motion to related issues be selected by reduce funding for the Community SLACC and charged to review the ! Development Corporation by $50, - range of community housing needs /` 000 . that _may be accommodated within I the-context of the CDC, and have// Councilmember Godfrey asked their immediate task be to make an/ where the $50, 000 would go and Mr. investigation and report to the Hardman said it would go to the Mayor and Council within three, Redevelopment Agency (RDA) housing months as to the need for a CDC rehab program. and the housing problems it may be ,expected to address; the task Mayor DePaulis asked about force_ would also report to CDAC the rationale of reducing the CDC. whether SLACC should incubate the Councilmember Hardman said the CDC or whether they recommend funding last year on the RDA was another sponsor_ _and the Community $700, 000 and they requested $1, - Development____ Advis4Dry _ Committee 000, 000 this year. He said CDAC would then make a recommendation t recommended $700, 000 and the Mayor to the Mayor and Council, which recommended $650, 000. He said motion_G_axried�_ all members voted with the loss of the RDA' s 3-12 aye except Councilmembers Fonnes- money and the addition of the beck, Godfrey, and Kirk who voted ' urban homestead program, he felt nay. it was better at this time to bolster existing programs given Councilmember Horrocks moved the limited amount of housing and Councilmember Kirk seconded to resource money. reduce the funding for the down town plan strategies by $30, 000, Mayor DePaulis said that in reducing it to $35, 000, and move terms of the comprehensive housing the money to the CDC, which motion policy he was trying to provide carried, all members voted aye. for the opportunity to extend resources and attempt to do new Councilmember Horrocks moved programs to aid housing. He said and Councilmember Bittner seconded he thought if the Council reduced that the security lock program be the CDC by $50, 000, then this put out to bid and that a recom- would limit the capacity to move mendation be made to the City into this area which was consis- Council by the Community Develop- tent with all other housing poli- ment Advisory Committee and by the cies and priorities. He said it Mayor for the placement of that seemed reasonable to take money program; and to appropriate the from RDA to use for another oppor- money recommended by the Mayor tunity and expand the program. He ( $30, 000 ) , which motion carried, said he was worried that reducing all members voted aye. funding would damage the possibil- ity to do a CDC effectively. Councilmember Hardman moved and Councilmember Kirk seconded to Councilmember Hardman said he adopt the rest of the package as supported the CDC concept and proposed by the Mayor ' s Office, thought there was a role for it to which motion carried, all members play. He said in the absence of voted aye except Councilmember a housing policy he was concerned Godfrey who voted nay. that they may duplicate efforts and was concerned with having DISCUSSION: Councilmember several program vying for money. 89-132 December 28, 1989 City Council City & County Building 451 So. State # 304 Salt Lake City, UT 84111 Honorable Councilmembers, The City Council moved in it's May 6, 1989 meeting to allocate $50,000 for SLACC staffing but not to appropriate the money until the issues regarding the budget and the Recognition ordinance are resolved. At this time the budget has been developed. The Recognition and Notification ordinances are in final draft and will be brought before you in February. SLACC would like to begin the hiring process for the full time position of a SLACC Coordinator. Please contact me if you have any questions. (363-0827) Respectfully Stan Penfold Chair, Salt Lake Association of Community Councils (SLACC) ASS0„ SLACC `,P -/9� 324 South State Street. First Floor vre ,� Salt Lake City, Utah 84111 ti TS11�all U Telephone(801) 535-7915 -n M�NITV GO Draft 11-27-89 JOB POSITION: SALT LAKE ASSOCIATICN OF commuNrrY COUNCILS COORDINATOR MNIIILY SALARY: JOB SL M IARY: The coordinator of Salt Lake City Association of Cotnnunity Councils (SLACC) assists the Board of Directors, and is responsible to the SLACC Board through the Chair for the implementation of policies and programs as assigned by SLACC. This position compliments but does not duplicate the services available through Community Affairs Office. TYPICAL [UTiES: ADMINISTRATIVE: 1. Assist SLACC Board and various committees as assigned by the Board in development of sound organization. 2. Attend all regular meetings of SLACC. 3. Attend weekly Community Affairs staff meetings. 4. Assist the Chair in preparation of annual progress reports for SLACC. 5. Assist SLACC Committcc3 as directed by the Board. 6. Assist in recruitment of specialists for SLACC Ad Hoc committed. PLANNING AND PROGRAMMING: 1. Research issues that affect the vitality/stability of neighborhoods and advise the SLACC Board on appropriate action. 2. Assist in developing neighborhood plans and city master plans as required by the Board. 3. Participate in special studies, projects, reports, research activities, and monitoring as may be considered beneficial by the Board. 4. Keep the Board informed on proposed rules, regulations, adjustments, services, legislation, public hearings, etc. , relating to neighborhoods. COMMUNITY RELATIONSHIPS 1. Interpret programs and policies of SLACC to other agencies and community groups. Develop mass media coverage by making use of public relations, staff members or appropriate committees or individuals associated with SLAG. 2. Participate in community planning for SLACC and community councils through membership in professional organizations and interagency committees. 3. Maintain relationships with community councils, governmental agencies, Utah Neighborhoods , Neighborhoods USA and other community based organizations to keep abreast of new developments and trends pertinent to SLACC's needs and objectives. GOVERNMENTAL RELATIONSHIPS: 1. Work with all city departments and divisions including but not limited to: Community and Economic Development, Public Works, Public Utilities, Parks, Finance, City Council, Mayor and Community Affairs. 2. Coordinate and advise on county/state issues that impact Salt Lake City neighborhoods. ABILITIES, EXPERIENCE, AND TRAINING REQUIRED: 1. Graduation from an accredited college or university with a B.A. in Urban Planning or a related field and minimum three (3) years related professional experience; or an equivalent combination of education and experience substituted on a year for year basis. 2. Ability to organize and supervise. 3. Ability to establish and maintain effective relationships with city departments. 4. Ability to analyze and make sound recommendations on neighborhood issues. 5. Ability to prepare comprehensive and concise reports, both oral and written. 6. Thorough knowledge of all Salt Lake City zoning codes, political and legal processes, and city boards and commissions. 7. Ability to draft legislation. WORKING Cal NDITICNS: 1. Work some evenings. Flexible hours. Must be self motivated. 2. Considerable exposure to stress as a result of human behavior. CDBG Budget Salaries 1 Full Time 25,000-28.000 1 Hourly 10,000 Health Benefits for Full Time Employee up to 1 .500 yearly Transit/parking for 2 employees 360 Supplies or Materials Printing 2,000 Office Supplies 1 ,500 Other Expenses Travel 2.200 Training 500 Phones 500 TOTAL 46,560.00 PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, MAY 16, 1989 Geneva Rock UNFINISHED COUNCIL BUSINESS Ease $676, 562. 05 #1 . RE: An appropriation Alternate A $437, 198 . 02 resolution adopting a final state- Alternate B $283, 443 . 12 ment regarding .tth Year Community Alternate C $6, 710 . 00 evelo ment Block Grant Funding 1 9-90 ) and- approving an Inter- Workman Construction local Cooperation Agreement be- tween Salt Lake City Corporation Ease $801 , 961 . 50 and the United States Department Alternate A S428, 049 . 00 of Housing and Urban Development Alternate B $338, 252 .00 concerning the same. Alternate C $7, 200. 00 NOTE: Councilmember Hardman M.C. Green & Sons relinquished the chair to Council Chair Stoler for this item of Base $674 , 379 . 99 business so Mr. Hardman could Alternate A $445, 725 .00 participate in the debate . Alternate B $341 , 406 . 00 Alternate C $4, 790. 00 ACTION: Councilmember Hard- man moved and Councilmember Hor- Western Quality Concrete rocks seconded to reduce funding for the Communi —_. evelopment 3ase $623 , 075. 50 Corporation bye $50, 0 ) reducing Alternate A S469, 675 . 00 it to $100, 000, and increase Alternate B $371 , 090. 00 funding for the Redevelopment Alternate C $5 , 550 Agency housing rehab program by $50, 000, increasing it to $700, - Mr. Lyon said that using 000; and any slippage from 15th pavement alternate L, which was Year projects which becomes avail- lower in bid price from all four able during the year be applied contractors, Geneva Rock was the toward the CDC project which is apparent lcw bidder. He said this currently funded, pending the bid was slightly below the engi- findings of the task force, which neer ' s estimate . motion carried, all members voted (0 87-1 ) aye except Councilmember Kirk who voted nay. #3 . RE: A joint resolution of support for a favorable vote on Councilmember Hardman moved the General Obligation Pond issue and Councilmember Horrocks second- for a new jail facility before ed to reduce funding for the Salt Lake voters on May 23, 1989 . Community Development Corporation by $50, 000, reducing it to $50, - ACTION: Councilmember Staler 000, and _.allocate S50L000_for moved and Councilmember Godfrey SLACC staffing but not_ appropriate seconded to suspend the rules and the money_ until_ the issues regard- en first reading adopt Resolution ing the ordinance and_ bud et are 67 of 1989, which motion carried, resolved; and that the remaining all members voted aye. $50, 000-__in the CDC line item be. (R 89-1 ) for start up costs for a Community Development Corporation without a designated sponsor at this time;. and that a task force consisting_ of 5-10 individuals with expertiqe_ and interest in housing problems, PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH TUESDAY, MAY 16, 1989 finance„neighborhoods, and other `. Hardman first made a motion to related issues be selected by reduce funding for the Community SLACC, and charged to review the - - IDevelopment Corporation by $50, - range ofc_ommunity__ housing_ needs - 000. tit may be accommodated within the context of the CDC, and have/ffff Councilmember Godfrey asked their immediate task be to make an/ where the $50, 000 would go and Mr. investigation and report to theft Hardman said it would go to the Mayor and Council within three. Redevelopment Agency (RDA) housing months as to the need for a CDC rehab program. and the housing problems it may be ,erected to_ address; the task Mayor DePaulis asked about force_ would also report to CDAC the rationale of reducing the CDC. whether SLACC sh- uld incubate the Councilmember Hardman said the CDC or whether they recommend funding last year on the RDA was another gQnsor_and___the__Community $700, 000 and they requested $1 , - _Development Advisory Committee 000, 000 this year. He said CDAC would then make a recommendation \ recommended $700, 000 and the Mayor to`t eheh Mayor and Council; which recommended $650, 000. He said motionja-ried, aia members voted with the loss of the RDA' s 3-12 aye except Councilmembers Fonnes- money and the addition of the beck, Godfrey, and Kirk who voted ' urban homestead program, he felt nay. it was better at this time to bolster existing programs given Councilmember Horrocks moved the limited amount of housing and Councilmember Kirk seconded to resource money. reduce the funding for the down town plan strategies by $30, 000, Mayor DePaulis said that in reducing it to $35, 000, and move terms of the comprehensive housing the money to the CDC, which motion policy he was trying to provide carried, all members voted aye. for the opportunity to extend resources and attempt to do new Councilmember Horrocks moved programs to aid housing. He said and Councilmember Bittner seconded he thought if the Council reduced that the security lock program be the CDC by $50, 000, then this put out to bid and that a recom- would limit the capacity to move mendation be made to the City into this area which was consis- Council by the Community Develop- tent with all other housing poli- ment Advisory Committee and by the cies and priorities. He said it Mayor for the placement of that seemed reasonable to take money program; and to appropriate the from RDA to use for another oppor- money recommended by the Mayor tunity and expand the program. He ( $30, 000 ) , which motion carried, said he was worried that reducing all members voted aye. funding would damage the possibil- ity to do a CDC effectively. Councilmember Hardman moved and Councilmember Kirk seconded to Councilmember Hardman said he adopt the rest of the package as supported the CDC concept and proposed by the Mayor ' s Office, thought there was a role for it to which motion carried, all members play. He said in the absence of voted aye except Councilmember a housing policy he was concerned Godfrey who voted nay. that they may duplicate efforts and was concerned with having DISCUSSION: Councilmember several program vying for money. 89-132 DISCUSSION DRAFT SALT LAKE CITY ORDINANCE No. of 1990 (Recognition of SLACC and Neighborhood Organizations ) AN ORDINANCE AMENDING TITLE 2 OF THE SALT LAKE CITY CODE BY ADDING A NEW CHAPTER 2.60 .010 ET SEQ. , DEALING WITH RECOGNITION OF NEIGHBORHOOD BASED ORGANIZATIONS. 4100 WHEREAS, the City Council of Salt 'Lake City, Utah, believes it important that the City obtain input and information concerning decisions affecting residents from locally established neighborhood organizations; an WHEREAS, such input and informa,t4von should come through a regularly established process by which geographical areas of the City may be identified for purposes of formulating and presenting N recommendations on actions within the City which affect that geographical area; and WHEREAS, the City acknowledges the vital roles that neighborhood organizations play in improving the quality of life for Salt Lake City residents and visitors; and WHEREAS, the City desires to extend official recognition to Salt Lake City's community councils, neighborhood councils and associations, and the Salt Lake Association of Community Counsels; and WHEREAS, such neighborhood-based organizations should be encouraged and permitted to recommend actions, policy or plans to the City on matters affecting the livability of their neighborhoods or the City as a whole; and WHEREAS, the neighborhood-based organizations are encouraged to assist City agencies in determining priority needs of their neighborhoods including master planning and ordinances; and WHEREAS, such neighborhood-based organizations should follow clear processes within the organization for presenting their input to the City; and WHEREAS, the Mayor and the City Council F' .,encouraged to schedule regular meetings with recognized ghbc& God-based organizations; and WHEREAS, the Mayor and the City =,ftiqgp. i. end to provide through the City's budget proc: -y> 4 r 8141ie assistance to 1 �,. such neighborhood-based or�. "' w •t' vu `s4: WHEREAS, the City int',a',s 3s e :.tif,urage City departments, especially including the Depa ;,,w'' of Community and Economic Development to work with the neighborhood-based organizations; THEREFORE, be it ordained by the City Council of Salt Lake City, Utah: Section 1 Chapter 2.60.010 Et Seq. be enacted to read as follows: CHAPTER 2. 60 SLACC AND NEIGHBORHOOD-BASED ORGANIZATION RECOGNITION Section 2.60.010 Purpose. It is the policy of Salt Lake City to recognize neighborhood-based community organizations for the purpose of providing citizen input and information to various City planning and administrative services. This chapter provides a process for such recognition. -2- Section 2.60.020 Recognition of SLACC and neighborhood- based organizations. A. All organizations recognized pursuant to this chapter shall comply with the following conditions: 1 . Only properly registered not-for-profit corporations in good standing with the State of Utah may be recognized. 2 . To obtain recognition any community-ba ed organization $ ' shall submit to the City Recorder the follow' 'nformation: (a) The articles of incorporation ' byla tlef the K` o community-based organization. ` '48(b) A list of the officers, di ,.,• o ustees of the organization together with their4a45e ' tob the address to which any notice to the organiz-x'r ,=I� u be sent. z� (c) No later than Ja ,^ ;' "'« • ., -.a year any recognized 4itorganization seeking continua 'ti�fR' -R4;!nition shall submit to the W3 City Recorder any changes in the - formation specified in (a) and (b) above and a list of each meeting held by the organization in the proceeding year and a description of the election procedure for officers, directors or trustees of the organization. B. The Salt Lake Association of Community Councils ( "SLACC" ) , or its legal successor, is hereby recognized as the City-wide organization in which community councils, neighborhood councils and neighborhood associations participate by sending representation in accordance with SLACC by laws. C. Neighborhood and community organizations. Neighborhood and community organizations representing the neighborhoods and communities defined on the list and map attached as Exhibit A to 3- this ordinance and maintained on file with the City Recorder are hereby recognized. Membership in any neighborhood or community- based organization must be open to anyone residing within or owning property within the boundaries of the organization. The number, name or boundaries of any community or neighborhood organization may be amended by the Council upon petition from a council member, or any neighborhood or comm y organization recognized under this chapter. All neigbOttid or community organizations affected by such a petit 4* smell a public hearing on the amendment request nq,lkul,essthan 15 or more that 45 days after written notice of there 't ceived. Within 30 days after the hearings befo c, f ed�/community or r,'fia:i � neighborhood organizatio ` < 1 .?�C it shall hold a public il•.if9i hearing on the amendment eg ' e Council shall act on the amendment petition by majorityl, e. D. All organizations recognized pursuant to this chapter shall comply with all provisions of the open meeting laws of the State of Utah and Salt Lake City. Section 2.60.030 Participation. Recognized organizations are encouraged to make recommendations to the City on all matters affecting the City or the organizations particular community or neighborhood. Recognized organizations shall be part of the City's notification process provided by Chapter 62 of Title 2. Section 2 .60.040 Open participation. This chapter shall not preclude the participation in any public hearing by individuals or entities on their own behalf . -4- All citizens of Salt Lake City affected by a decision to be considered by the City Council or the Mayor are encouraged and invited to participate whether through their recognized organization or individually. Section 2.60.050 Volunteer status and partial indemnification. Recognized organization members shall be considered volunteers and not employees, officials or off,4 is of Salt Lake City. Recognized organizations and their{.-d` >fice • trustees and directors shall be indemnified by th- City pursuan t9 the Utah Governmental Immunity Act in any civK € io ':which may arise �'`4• '` �s v . ,?thin the scope of from determinations and reco d ��,_ on �.�'! performance of their du `` . - .xt * • • '' '-,. -c;-pter or under Chapter ,, Y ek .. .-. 62 of Title 2. This defer a iimnification obligation on s 3' 'r behalf of the City shall be �� ted to only those determinations and recommendations and shall not extend to any physical activities of the recognized organizations or their members such as driving, inspecting property or other similar activities. SECTION 2 . This ordinance shall become effective on the date of its first publication. Passed by the City Council of Salt Lake City, Utah, this day of , 1990. CHAIRPERSON -5- ATTEST: CITY RECORDER Transmitted to the Mayor on Mayor' s action: Approvedfl Vetoed. MAYOR ATTEST: , r,v CITY RECORDER ..4441 BRB:ap 64tcr C14 • ' • ,A'e 17--r7 4tiee -6- DISCUSSION DRAFT SALT LAKE CITY ORDINANCE No. of 1990 (Recognized and Registered Organization Notification Provisions) AN ORDINANCE AMENDING TITLE 2 OF THE SALT LAKE CITY CODE BY ADDING A NEW CHAPTER 2 .62 . 010, ET SEQ. , DEALING WITH NOTIFICATION OF CERTAIN ACTIONS TO RECOGNIZED OR REGISTERED ORGANIZATIONS . WHEREAS, the City Council of Salt Lake City, Utah, believes it important that the City obtain input and information concerning decisions affecting,resi,dents from locally established .h.r tv neighborhood and other commgnityased organizations and other Nvf entities seeking to providOoligh input; and WHEREAS, such input and information should come through a regularly established process by which geographical areas of the City may be identified for purposes of formulating and presenting recommendations on actions within the City which affect that geographical area; and WHEREAS, the City acknowledges the vital roles that neighborhood organizations play in improving the quality of life for Salt Lake City residents and visitors; and WHEREAS, such neighborhood-based organizations should be encouraged and permitted to recommend actions, policy or plans to the City on matters affecting the livability of their neighborhoods or the City as a whole; and WHEREAS, the neighborhood-based organizations are encouraged to assist City agencies in determining priority needs of their neighborhoods including master planning and ordinances; and WHEREAS, such neighborhood-based organizations should follow clear processes within the organ44 tion for presenting their input to the City; THEREFORE, be it ordained by C' Co il, Salt Lake City, Utah: Section 1 That Chapter 2. . ei�k�- . -t eq. , be enacted to read as follows: Recognized or reg 'zation notification procedures . Section 2.62.010 Purpo= . It is the policy of Salt Lake City to notify recognized or registered organizations of activities concerning the organizations and obtain input from these organizations concerning various city planning and administrative services . This chapter provides a process for such notification and obtaining such input. Section 2.60.020 Organizations entitled to notice. A. Recognized Organizations. Organizations recognized pursuant to Chapter 60 of Title 2 shall receive the notices and may participate in the processes established pursuant to this chapter. -2- B. Registered Organizations. Any other entity, organization or person may register on annual basis with the Department of Community and Economic Development to receive the notices specified in this chapter. Section 2.60.030 Required notices. The Planning and Zoning division shall submit to each recognized or registered organization cop' - of the Planning Commission public meeting agendas . Th= a N , g and Zoning r.v4ylt^ division shall also submit to neigh• v00% z,and s unity 01 organizations recognized pursuan Sep• s •n 2.60 .020(C) applications for changes to zonin• s or conditional use applications pertaining to 40, ` ; gated within, or within 600 feet of the border o Sn h ;y o• ,. ed organizations . Board of Adjustment agendas s : . • 4'= -n, to all organizations recognized pursuant to Sect {^yi; /60.020(C) . Other City 'vtekr administrative departments shall take reasonable steps to notify affected recognized organizations of any significant activities pertaining specifically to the recognized organizations geographic area. The failure to give any notice under this section shall not affect the validity of any act or decision and shall not give rise to any private right of action for such lack of notice. Section 2.60.040 Participation in planning process. A. Recognized and registered organizations are encouraged to make recommendations concerning matters of which they are given notice pursuant to this chapter. In making such recommendations the spokesperson for the organization shall specify the following: -3- 1 . The nature of the meeting at which the organizations recommendation was obtained (i.e. executive committee, board, general membership etc. ) ; 2 . The notice procedure for the meeting at which such recommendation was made; 3 . The vote on such recommendation',. B. Upon request of the chairp . gonN#4esignated planning and zoning representative of an o ` - .i 'tion '1� cognized pursuant vY:` to Section 2 . 6 0 .010(C) given ' J ,. 'ti ; by telephone or in person at a meeting during 'ic ; 4+, cation is being % ly1A considered, the Planning 19 so i= all continue the application for a per' t`''- a ed four weeks from the first } , ' , , ‘1*0c meeting such applicatt 's ' ' r by the Planning Commission to allow the recognized orga ion to consider the application at its own meeting. The Mayor may notify the Planning Commission that immediate action is necessary for the best interests of the City in which case a request for delay shall not be granted. Section 2.60.050 Open participation. The notification and participation process specified in this chapter is not intended to preclude the participation in any public hearing by individuals or entities on their own behalf. All citizens of Salt Lake City affected by the decision to be considered at a public hearing are invited and encouraged to participate whether through their recognized organization or individually. SECTION 2. This ordinance shall become effective the date of its first publication. -4- Passed by the City Council of Salt Lake City, Utah, this day of , 1990. CHAIRPERSON ATTEST: CITY RECORDER Transmitted to the Mayor on Mayor' s action: rM.,ve `" Vetoed. &; N t}h1 YOR r ATTEST: � f T.w CITY RECORDER BRB:ap -5- JTM FOOTHILL VILLAGE PROJECT INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS, SERIES 1990 This is being brought before the Council again due to some technical changes. The dollar amount and scope of this project has not changed. Due to the volume of the Financing Agreement, Tax Agreement and the Indenture of Trust., only three copies were received. These copies are in the Council Office for your review. Included in this packet are: 1 ) Issuance Resolution 2) Bond Purchase Agreement 3) Preliminary Official Statement DAVIS, GRAHAM 8c STUBBS ATTORNEYS AT LAW WASHINGTON D.C. OFFICE SUITE 4700 SALT LAKE CITY OFFICE SUITE 500 370 SEVENTEENTH STREET SUITE 1600-87 1200 NINETEENTH STREET, N.W. DENVER, COLORADO 80202 EAGLE GATE TOWER WASHINGTON, D.C. 20036-2402 60 EAST SOUTH TEMPLE TELEPHONE 202-822-8660 MAILING ADDRESS SALT LAKE CITY, UTAH 84111-1006 POST OFFICE BOX 18S TELEPHONE 801-328-6000 DENVER, COLORADO 80201-0185 TELEPHONE 303-892-9400 TELEX 240451 DGS DVR TELECOPIER 303-893-1379 CABLE DAVGRAM, DENVER ELIZABETH J. LENTI NI 89 2-746 5 January 1 1 , 1990 Cindy Jensen Executive Director of the City Council 451 South State Street Salt Lake City, Utah 84111 $7 , 41 0, 000 Salt Lake City, Utah Industrial Development Revenue Refunding Bonds Series 1990 (JTM Foothill Village Project) Dear Cindy: Attached are copies of the Bond Resolution, the Indenture , the Financing Agreement, the Tax Agreement, the Bond Purchase Agreement and the Official Statement for the above- referenced bond issue. As we discussed yesterday, these documents are substantially unchanged from the documents which were approved by the City Council on December 12 , 1989, except that in December the bonds were structured as zero coupon bonds and now the bonds are structured as current interest-bearing bonds. As was the case in December, the proceeds of these bonds will be used to refund the Series 1984 bonds relating to the JTM Foothill Village project and the bonds do not constitute a general obligation or liability of the City. Please contact me at the above number or Fred Olsen of Ballard, Spahr, Andrews & Ingersoll ( 359-1800 ) , if you have any questions. Ver ru yo rs, izabeth J. Lentini The City Council (the "Council") of Salt Lake City, Utah met in regular session at its regular meeting place in Salt Lake City, Utah at 6:00 p.m. on January 16, 1990, with the following members present: Alan G. Hardman Chairperson Nancy Pace Councilmember Thomas M. Godfrey Councilmember Roselyn N. Kirk Councilmember Ronald J. Whitehead Councilmember L. Wayne Horrocks Councilmember Don Hale Councilmember Also present: Palmer DePaulis Mayor Kathryn Marshall City Recorder Roger Cutler City Attorney Absent: The meeting was duly called to order and upon determining that a quorum was present, the minutes of the preceding meeting were read and approved, and the City Recorder presented to the Council a Certificate of Compliance with Open Meeting Law with respect to the January 16, 1990 meeting, a copy of which is attached hereto as Exhibit A. The following resolution was then introduced, fully discussed by the Council and, pursuant to motion duly made by Councilmember seconded by Councilmember , and adopted by unanimous vote. The resolution was then signed by the Chairperson and attested by the City Recorder in open meeting and recorded by the City Recorder in the official records of Salt Lake City, Utah. The resolution is as follows: RESOLUTION NO. A RESOLUTION AUTHORIZING THE ISSUANCE OF SALT LAKE CITY, UTAH INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS, SERIES 1990 (JTM FOOTHILL VILLAGE PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $7,410,000; AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCING AGREEMENT, AN INDENTURE, A TAX AGREEMENT, A BOND PURCHASE AGREEMENT, AN OFFICIAL STATEMENT, SUCH BONDS AND CLOSING DOCUMENTS IN CONNECTION THEREWITH. WHEREAS, pursuant to the Utah Industrial Facilities and. Development Act, Chapter 17, Title 11, Utah Code Annotated 1953, as amended (the "Act"), Salt Lake City, Utah (the "City") is authorized to refund any Bonds issued under the Act by the issuance of its industrial development revenue refunding bonds; and WHEREAS, pursuant to an Indenture of Trust dated as of December 1, 1984 between the City and First Security Bank of Utah, N.A., as trustee, as supplemented by a Supplemental Indenture dated as of June 1, 1985 between the City and First Security Bank of Utah, N.A., as trustee (the "Series 1984 Bond Indenture"), the City issued its "Salt Lake City, Utah Floating Rate Demand Industrial Development Revenue Bonds (JTM Foothill Village Project) Series 1984" in the aggregate principal amount of $7,410,000 (the "Series 1984 Bonds") to finance the cost of acquiring and rehabilitating a shopping center facility owned and operated by JTM Foothill, Ltd., a Utah limited partnership (the "Company"); and WHEREAS, on December 1, 1990, pursuant to the Series 1984 Bond Indenture the Series 1984 Bonds were redeemed; and WHEREAS, pursuant to an Indenture of Trust dated as of January 1, 1990 (the "Indenture") between the City and Zions First National Bank, as trustee (the "Trustee"), the City proposes to refund the Series 1984 Bonds (the "Refunding Project") through the issuance of its "Salt Lake City, Utah Industrial Development Revenue Refunding Bonds, Series 1990" (the "Bonds") in an aggregate initial principal amount not to exceed $7,410,000; and WHEREAS, the Bonds will be payable from certain payments to be made by the Company pursuant to a Financing Agreement dated as of January 1, 1990 between the Company and the City (the "Financing Agreement") and will be further secured by a Letter of Credit issued by The Sumitomo Bank, Ltd., acting through its Chicago Branch; and -2- WHEREAS, the Bonds will be purchased by Boettcher & Company, Inc. (the "Underwriter") pursuant to a Bond Purchase Agreement (the "Bond Purchase Agreement") between the Underwriter and the City; and WHEREAS, the Bonds will be offered to the public by the Underwriter pursuant to a Preliminary Official Statement relating to the Bonds (the "Preliminary Official Statement"); and WHEREAS, the City Council of the City (the "Council") deems it necessary and advisable to authorize the sale and issuance of the Bonds and to authorize the execution and delivery of the Financing Agreement, the Indenture, the Bond Purchase Agreement, a Tax Agreement among the City, the Company and the Trustee (the "Tax Agreement") and a final Official Statement relating to the Bonds (the "Official Statement"); and WHEREAS, a form of the Financing Agreement, a form of the Indenture, a form of the Bond Purchase Agreement, a form of the Tax Agreement and a form of the Preliminary Official Statement have been presented to the Council and filed with the City Recorder prior to the date hereof; and WHEREAS, the Act and all documents to be signed by the City provide that the Bonds are special, limited obligations of the City and shall not constitute nor give rise to a general obligation or liability of the City or a charge against its general credit or taxing powers. NOW THEREFORE, be it resolved by the Council as follows: Section 1. All action (not inconsistent with the provisions of this resolution) heretofore taken by the City or the officers of the City directed toward the financing of the Refunding Project and the issuance and sale of the Bonds therefor is hereby ratified, approved and confirmed. Section 2. To defray the costs of the Refunding Project, there is hereby authorized the issuance of the Bonds as fully registered bonds, in an aggregate principal amount not to exceed $7,410,000 and bearing an interest rate per annum not to exceed 8.0%. The Bonds shall mature no later than June 1, 2005 and shall be issued in accordance with and pursuant to the Indenture in the form presented to the Council at the meeting at which this resolution was adopted, with such changes and additions as are approved by the Mayor. The execution of the Indenture by the appropriate officers of the City shall be conclusive evidence of the approval by the City of such document in accordance with the terms hereof. The form of Indenture is on file at the office of the -3- City Recorder and may there be examined during normal business hours by any interested person. Section 3. The Bonds shall be sold to the Underwriter pursuant to the Bond Purchase Agreement at a purchase price equal to the aggregate principal amount of the Bonds. Section 4. The Financing Agreement, the Indenture, the Tax Agreement and the Bond Purchase Agreement, in the form presented to the Council at this meeting which such changes and additions as are approved by the Mayor and not inconsistent with the terms of this resolution and the Bonds, with such detail and provisions as are required by the Indenture, are hereby approved in all respects. The execution of such documents by the appropriate officers of the City shall be conclusive evidence of the approval by the City of such documents in accordance with the terms hereof. The Mayor is hereby authorized to execute each of the same on behalf of the City and the City Recorder is hereby authorized to attest to each of the same on behalf of the City and to affix the seal of the City thereto and the acts of the Mayor and City Recorder in so doing are and shall be the act and deed of the City. The Mayor, the City Recorder and all other proper officers and employees of the City are hereby authorized and directed to take all steps on behalf of the City to perform and discharge the obligations of the City under each of said documents. Section 5. The sale of the Bonds to the Underwriter at a price not to exceed the price set out in Section 3 hereof is hereby authorized, approved and confirmed, and the Mayor is hereby authorized and directed to execute, with such changes and additions as are approved by the Mayor and the City Recorder to attest and deliver the Bond Purchase Agreement. The execution of the Bond Purchase Agreement by the appropriate officers of the City shall be conclusive evidence of the approval by the City of such document in accordance with the terms hereof. Section 6. The City authorizes the use by the Underwriter of the Preliminary Official Statement in marketing the Bonds and authorizes the Official Statement. The Official Statement shall be in the form of the Preliminary Official Statement presented to the Council at this meeting, with such changes therein as are approved by the Mayor or are necessary to conform such Official Statement to the provisions of the Indenture, Financing Agreement, Tax Agreement, Bond Purchase Agreement and other documents relating to the Refunding Project as finally executed. The Mayor is authorized to execute and deliver the Official Statement on behalf of the City. The execution of the Official Statement by the Mayor shall be conclusive evidence of the approval by the City of the Official Statement in accordance with the terms hereof. Section 7. Pursuant to Section 11-17-13, Utah Code Annotated 1953, as amended, the City includes herein the pledge and undertaking of the State of Utah that -4- the State of Utah will not alter, impair or limit the rights vested hereunder or in the Bonds, the Financing Agreement, the Indenture or any of the documents contemplated hereby until the Bonds have been fully paid and discharged in accordance with the Indenture and all obligations of the City under the Bonds, the Financing Agreement, the Tax Agreement and the Indenture are fully performed. Section 8. The Mayor, the City Recorder and other officers of the City are hereby authorized to execute all documents and take such action as they may deem necessary or advisable in order to carry out and perform the purpose of this resolution and the execution or taking of such action shall be conclusive evidence of such necessity or advisability, including the execution and delivery of closing documents in connection with the issuance of the Bonds. All action heretofore taken by the City, its officers and employees, with respect to the issuance and sale of the Bonds, is hereby ratified and confirmed. Section 9. It is hereby declared that all parts of this resolution are severable and that if any section, paragraph, clause or provision of this resolution shall, for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of any such section, paragraph, clause or provision shall not affect the remaining provisions of this resolution. Section 10. All resolutions and ordinances or parts thereof heretofore adopted or passed which are in conflict with any of the provisions of this resolution are, to the extent of such conflict, hereby repealed. Section 11. The Council hereby directs the City Recorder to make an appropriate notation on the books of the City that the City is electing to issue the Bonds as an exempt small issue of $10,000,000 or less under Section 144(a)(4) of the Internal Revenue Code of 1986, as amended. Section 12. This resolution shall become effective immediately upon its adoption by the Council. -5- Passed and approved this 16th day of January, 1990 by the City Council of Salt Lake City, Utah. SALT LAKE CITY, UTAH Chairperson ATTEST: City Recorder ( SEAL ) -6- After conduct of other business not pertinent to the above, the meeting was, on motion duly made and seconded, adjourned. SALT LAKE CITY, UTAH Chairperson ( SEAL ) ATTEST: City Recorder PRESENTATION TO THE MAYOR The foregoing resolution was presented to the Mayor for his approval or disapproval on the 16th day of January, 1990. Chairperson MAYOR'S APPROVAL The foregoing resolution was approved by the Mayor on the 16th day of January, 1990. Palmer A. DePaulis Mayor -7- STATE OF UTAH ) ) ss. COUNTY OF SALT LAKE ) I, Kathryn Marshall, the duly qualified and acting City Recorder of Salt Lake City, Utah, do hereby certify according to the records of the Salt Lake City, Utah, City Council (the "Council") in my possession, that the foregoing constitutes a true, correct and complete copy of the proceedings of the Council held on January 16, 1990, insofar as said minutes pertain to the matters set forth herein. IN WITNESS WHEREOF, I have hereunder subscribed by signature and impressed hereon the official seal of Salt Lake City, Utah this 16th day of January, 1990. City Recorder ( SEAL ) -8- EXHIBIT A CERTIFICATE OF COMPLIANCE WITH OPEN MEETING LAW I, Kathryn Marshall, the undersigned, the duly qualified City Recorder of Salt Lake City, Utah (the "City") do hereby certify, according to the records of the City in my official possession, and upon my own knowledge and belief, that 1. In accordance with the requirements of Section 52-4-6(2), Utah Code Annotated 1953, as amended, I gave public notice of the agenda, date, time and place of the January 16, 1990 public meeting held by the City Council of the City (the "Council") by causing a Notice of Public Meeting to be posted at the principal office of the Council at 324 South State Street, in the City on January 12, 1990, at least 24 hours prior to the convening of such meeting, in the form attached hereto as Schedule 1; such Notice of Public Meeting having continuously remained so posted and available for public inspection during the regular office hours of the Council until the convening of the meeting; and causing a copy of said Notice of Public Meeting in the form attached hereto as Schedule 1 to be provided on January 12, 1990, at least 24 hours prior to the convening of such meeting to the Salt Lake City Tribune, a newspaper of general circulation within 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 Council; and 2. In accordance with the requirements of Section 52-4-6(1), Utah Code Annotated 1953, as amended, public notice of the 1990 Annual Meeting Schedule of the Council was given specifying the date, time and place of the regular meetings of the Council scheduled to be held during the year, by causing a Notice of Annual Meeting Schedule (in the form attached as Schedule 2) to be posted on January 2, 1990, at the principal office of the Council in the City; such Notice of Annual Meeting Schedule having continuously remained so posted and available for public inspection during the regular office hours of the undersigned until the date hereof; and causing a copy of such Notice of Annual Meeting Schedule to be provided on January 2, 1990, to a newspaper of general circulation within the geographic jurisdiction of the City; IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the official seal of the City this 16th day of January 1990. City Recorder ( SEAL ) -9- SCHEDULE 1 AGENDA -10- SCHEDULE 2 NOTICE OF ANNUAL MEETING SCHEDULE -11- ti BD357 (PF) $7,410,000 SALT LAKE CITY, UTAH Industrial Development Revenue Refunding Bonds (JTM Foothill Village Project) Series 1990 January _, 1990 BOND PURCHASE AGREEMENT Salt Lake City, Utah 324 South State Street Salt Lake City, Utah 84111 On the basis of the representations, warranties and covenants contained in the certificates (hereinafter described) and in this Bond Purchase Agreement and upon the terms and conditions contained in this Bond Purchase Agreement, Boettcher & Company Inc. (the "Underwriter") hereby agrees to purchase from you $7,410,000 aggregate principal amount of your Industrial Development Revenue Refunding Bonds (JTM Foothill Village Project) Series 1990 (the "Bonds"), bearing interest at the rate and maturing on the dates set forth on Exhibit A attached hereto, to be issued under and pursuant to an Indenture of Trust dated as of January 1, 1990 (the "Indenture") between the Salt Lake City, UtAh (the "Issuer") and Zions First National Bank, located in Salt Lake City, Utah, as trustee (the "Trustee") . SECTION 1. THE REPRESENTATIONS, WARRANTIES AN!) AGREEMENTS OF THE ISSUER. By its acceptance hereof, the Issuer hereby represents and warrants to, and agrees with, the Underwriter that: (a) The Issuer is a municipal corporation, duly organized and existing under the laws of the State of Utah. The Issuer is authorized, pursuant to the Constitution and laws of the State of Utah, particularly Title 11, Chapter 17, Utah Code Annotated, 1953, as amended (the "Act"), and other provisions of applicable law, to issue the Bonds and enter into this Bond Purchase Agreement. (b) The Issuer has complied with all provisions of the Constitution and laws of the State of Utah, including the Act, and has full power and authority to consummate all transactions contemplated by this Agreement, the Bonds, the Indenture, the Financing Agreement dated as of January 1, 1990 (the "Financing Agreement") between you and JTM Foothill, Ltd. , a Utah limited partnership (the "Owner") and any and all other agreements relating thereto. (c) Prior to the Closing Time, the Issuer will have duly authorized all necessary action to be taken by it for: (1) the issuance and sale of the Bonds upon the terms set forth herein and in the Financing Agreement and in the Indenture; (2) the execution and delivery of the Indenture providing for the issuance of and security for the Bonds and appointing the Trustee as trustee, paying agent and bond registrar under the Indenture; (3) the execution, delivery, receipt and due performance of this Agreement, the Bonds, the Indenture, the Financing Agreement and any and all such other agreements and documents as may be required to be executed, delivered and received by the Issuer to carry out, give effect to and consummate the transactions contemplated hereby and by the Indenture; and (4) the carrying out, giving effect to and consummation of the transactions contemplated hereby 'and by the Indenture and the Financing Agreement. Executed counterparts of the Indenture and the Financing Agreement will be delivered to the Underwriter at the Closing Time. (d) There is no action, suit, proceeding, inquiry or investigation at law or in equity or before or by any court, public board or body pending or, to the knowledge of the Issuer, threatened against or affecting the Issuer (or, to its knowledge, any basis therefor) wherein an unfavorable decision, ruling or finding would adversely affect the transactions contemplated hereby or by the Indenture or the validity of the Bonds, the Indenture, this Agreement or any agreement or instrument to which the Issuer is a party and which is used or contemplated for use in the consummation of the transactions contemplated hereby or by the Indenture. (e) To the best of Issuer's knowledge, the execution and delivery of this Agreement, the Bonds, the Indenture, the Financing Agreement and the other agreements contemplated hereby and by the Indenture, and compliance with the provisions thereof, will not conflict with or constitute on the part of the Issuer a breach of or a default under any existing law, court or administrative regulation, decree or order or any agreement, indenture, mortgage, lease or other instrument to which the Issuer is subject or by which the Issuer is or may be bound. (f) The Issuer has not been notified of any listing or proposed listing by the Internal Revenue Service to the effect that it is a bond issuer whose arbitrage certifications may not be relied upon. (g) Any certificate signed by any of the authorized officers of the Issuer and delivered to the Underwriter shall be deemed a representation and warranty by the Issuer to the Underwriter as to the statements made therein. BD357 (PF) 2 SECTION 2. PURCHASE, SALE AND DELIVERY OF THE BONDS. On the basis of the representations, warranties and covenants contained herein and in the other agreements referred to herein, and subject to the terms and conditions herein set forth, at the Closing Time (hereinafter defined) the Underwriter agrees to purchase from the Issuer, and the Issuer agrees to sell to the Underwriter, the Bonds at an aggregate purchase price of $7,410,000, plus accrued interest from the date of the Bonds to the date of payment and delivery. The Bonds shall be issued under and secured as provided in the Indenture, and the Bonds shall mature on the dates and shall bear interest at the rates per annum set forth on Exhibit "A" attached hereto. The Bonds shall have interest payable and shall be subject to redemption as set forth in the Indenture. Payment for the Bonds shall be made by federal funds wire transfer or other immediately available funds payable to the order of the Trustee for the account of the Issuer at the offices of Ballard, Spahr, Andrews & Ingersoll, Salt Lake City, Utah, at 10:00 a.m. , local time, on 1990, or such other place, time or date as shall be mutually agreed upon by the Issuer and the Underwriter. The date of such delivery and payment is herein called the "Closing Date," and the hour and date of such delivery and payment is herein called the "Closing Time." The delivery of the Bonds shall be made in definitive form, bearing CUSIP numbers (provided neither the printing of a wrong CUSIP number on any Bond nor the failure to print CUSIP numbers thereon shall constitute cause to refuse delivery of any Bond) and issued as fully registered Bonds; provided, however, that the Bonds may be delivered in temporary form if mutually agreed upon by the Issuer and the Underwriter. If delivered in definitive form, the Bonds shall be available for examination and packaging by the Underwriter at least 24 hours prior to the Closing Time. SECTION 3. CONDITIONS TO THE UNDERWRITER'S OBLIGATIONS. The Underwriter's obligations hereunder shall be subject to the due performance by the Issuer of its obligations and agreements to be performed hereunder at or prior to the Closing Time and to the accuracy of and compliance with representations and warranties of the Issuer contained herein, as of the date hereof and of the Closing Time, and are also subject to the following conditions: (a) The Bonds, the Indenture and the Financing Agreement shall have been duly authorized and the Bonds, the Indenture and the Financing Agreement shall have been duly executed and delivered in the form heretofore approved by the Underwriter with only such changes therein as shall be mutually agreed upon by the Issuer and the Underwriter. (b) At the Closing Time, the Underwriter shall receive: BD357 (PF) 3 (1) Opinions, in form and substance satisfactory to the Underwriter, dated as of the Closing Date, of (a) Davis, Graham & Stubbs, Bond Counsel as required by the Underwriter; (b) , Counsel to the Owner, and (c) Roger Cutler, Esq. , Counsel to the Issuer; (2) A certificate, satisfactory to the Underwriter, of the Mayor of the Issuer or any other of the duly authorized officers of the Issuer satisfactory to the Underwriter, dated as of the Closing Date, to the effect that: (a) you have duly performed all of your obligations to be performed at or prior to the Closing Time and that each of your representations and warranties contained herein is true as of the Closing Time; (b) you have authorized, by all necessary action, the execution, delivery, receipt and due performance of the Bonds, the Indenture, the Financing Agreement and any and all such other agreements and documents as may be required to be executed, delivered and received by you to carry out, give effect to and consummate the transactions contemplated hereby and by the Indenture; (c) no litigation is pending, or to the knowledge of such officer threatened, relating to the Issuer, to restrain or enjoin the issuance or sale of the Bonds or in any way affecting any authority for or the validity of the Bonds, the Indenture, the Financing Agreement or your existence or powers or the Issuer's right to participate in the transaction contemplated by the Indenture; and (d) the execution, delivery, receipt and due performance of the Bonds, the Financing Agreement, the Indenture and other agreements contemplated hereby and by the Indenture under the circumstances contemplated thereby and the Issuer' s compliance with the provisions thereof will not conflict with or constitute on its part a breach of or a default under any existing law, court or administrative regulation, decree or order or any agreement, indenture, mortgage, lease or other instrument to which it is subject or by which it is or may be bound; (3) A certificate, satisfactory in form and substance to the Underwriter, whose approval thereof will not be unreasonably withheld, of the Owner, dated as of the Closing Date, to the effect that to the knowledge of the officer of the Owner executing such certificate, after inquiry of officers of the Owner who would normally have access to such information, there is no action, suit or proceeding instituted by or before any court, governmental agency, public board or body which is now pending against the Owner, or any cease or desist order or other orders of a similar nature, temporary or permanent, of any federal or state authority, which would have the effect of preventing or hindering in any material respect the transactions contemplated hereby or by the Indenture or the validity or enforceability of the Bonds, the Financing Agreement or this Agreement; and BD357 (PF) 4 (4) Such additional certificates and other documents as the Underwriter and its counsel may reasonably request to evidence performance of or compliance with the provisions hereof and the transactions contemplated hereby, all such certificates and other documents to he satisfactory in form and substance to the Underwriter. SECTION 4. THE UNDERWRITER'S RIGHT TO CANCEL. The Underwriter shall have the right to cancel the Underwriter's obligation hereunder to purchase the Bonds (and such cancellation shall not constitute a default for purposes of Section 7 hereof) by notifying the Issuer in writing or by telegram of its election so to do between the date hereof and the Closing Time, if at any time hereafter and prior to the Closing Time: (a) A tentative decision with respect to legislation shall be reached by a committee of the House of Representatives or the Senate of the Congress of the United States or legislation shall be favorably reported by such a committee or be introduced, by amendment or otherwise, in or be passed by the House of Representatives or the Senate, or recommended to the Congress of the United States for passage by the President of the United States, or enacted by the Congress of the United States, or a decision by a court established under Article III of the Constitution of the United States or the Tax Court of the United States shall be rendered, or a ruling, regulation or order of the Treasury Department of the United States or the Internal Revenue Service shall be made or proposed having the purpose or effect of imposing federal income taxation, or any other event shall have occurred which results in the imposition of federal income taxation upon revenues or other income of the general character to he derived by the Issuer or by any similar body or upon interest received on obligations of the general character of the Bonds, or the Bonds, which, in the Underwriter's opinion, materially adversely affects the market price of the Bonds; (b) Any legislation, ordinance, rule or regulation shall be introduced in or be enacted by any governmental body, department or agency in the State of Utah, or a decision by any court of competent jurisdiction within the State of Utah shall be rendered which, in the Underwriter's opinion, materially adversely affects the market price of the Bonds; (c) A stop order, ruling, regulation or official statement by, or on behalf of, the Securities and Exchange Commission or any other governmental agency having jurisdiction of the subject matter shall be issued or made to the effect that the issuance, offering or sale of obligations of the general character of the Bonds, or the issuance, offering of sale or sale of the Bonds, including all underlying obligations, as contemplated hereby, is in violation or BD357 (PF) 5 would be in violation of any provision of the federal securities laws, the Securities Act of 1933, as amended and as then in effect, or the registration provisions of the Securities Exchange Act of 1934, as amended and as then in effect, or the qualification provisions of the Trust Indenture Act of 1939, as amended and as then in effect; (d) Legislation shall be enacted by the Congress of the United States of America, or a decision by a court of the United States of America shall be rendered, to the effect that obligations of the general character of the Bonds, or the Bonds, including all the underlying obligations, are not exempt from registration under or other requirements of the Securities Act of 1933, as amended and as then in effect, or the Securities Exchange Act of 1934, as amended and as then in effect, or that the Indenture is not exempt from qualification under or other requirements of the Trust Indenture Act of 1939, as amended and as then in effect; (e) Any event shall have occurred, or information become known, which, in the Underwriter's opinion, makes untrue in any material respect any statement or information supplied by the Issuer or the Owner to the Underwriter, or that any statement or information contains an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; (f) Additional material restrictions not in force as of the date hereof shall have been imposed upon trading in securities generally by any governmental authority or by any national securities exchange; (g) The New York Stock Exchange or other national securities exchange, or any governmental authority, shall impose, as to the Bonds or obligations of the general character of the Bonds, any material restrictions not now in force, or increase materially those now in force, with respect to the extension of credit by, or the charge to the net capital requirements of, underwriters; (h) A general banking moratorium shall have been established by federal, New York or Utah authorities; or (i) A war involving the United States shall have been declared, or any conflict involving the armed forces of the United States shall have escalated, or any other national emergency relating to the effective operation of government or the financial community shall have occurred, which, in the Underwriter's opinion, materially adversely affects the market price of the Bonds. BD357 (PF) 6 SECTION 5. CONDITIONS OF THE OBLIGATIONS OF THE ISSUER. The obligations of the Issuer hereunder are subject to the Underwriter's performance of its obligations hereunder. All pecuniary obligations of the Issuer, if any, incurred hereunder, shall be special limited obligations of the Issuer, payable solely from the revenues and moneys and securities held by the Trustee from time to time under the Indenture. No recourse shall be had for any claim based upon any obligation, representation warranty, covenant or agreement arising under this Agreement against any past, present or future commissioner, officer, employee or agent of the Issuer or any successor, under any rule of law or equity, statute or constitution or by the enforcement of any assessment of penalty or otherwise, and all such liability of any such commissioner, officer, employee or agent as such is hereby expressly waived and released as a condition of and in consideration for the execution of this Agreement. SECTION 6. REPRESENTATIONS, WARRANTIES AND AGREEMENT TO SURVIVE DELIVERY. All of the representations, warranties and agreements of the Issuer shall remain operative and in full force and effect, regardless of any investigations made by the Underwriter on its own behalf, and shall survive delivery of the Bonds to the Underwriter. SECTION 7. PAYMENT OF EXPENSES. If the Bonds are sold by you to the Underwriter, all expenses and costs to effect the authorization, preparation, issuance, delivery and sale of the Bonds and any expenses incident to the performance of the obligations of the Issuer hereunder shall be paid by the Owner. If the Bonds are not purchased by the Underwriter for reasons other than those listed in Section 4, all fees and expenses set forth in this Section 7, to the extent owed, will be paid by the Underwriter or the Owner. Whether or not Bonds are sold and delivered hereunder, the Issuer shall not be liable for fees or expenses relating thereto. SECTION 8. NOTICE. Any notice or other communication to be given to the Issuer under this Agreement may be given by mailing or delivering the same in writing to the Salt Lake City, 324 South State Street, Salt Lake City, Utah 84111, Attention: Mayor, and any notice or other communication to be given to the Underwriter under this Agreement may be given by delivering the same in writing to Boettcher & Company Inc. , 828 Seventeenth Street, Denver, Colorado 80202, Attention: Alan Fair. BD357 (PF) 7 SECTION 9. APPLICABLE LAW; NONASSIGNABILITY. This agreement shall be governed by the laws of the State of Utah. This Agreement shall not be assigned by the Issuer or the Underwriter. SECTION 10. EXECUTION OF COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be regarded as an original and all of which shall constitute one and the same document. Very truly yours, BOETTCIIER & COMPANY INC. • By Title Accepted as of the date first above written: SALT LAKE CITY, UTAH By Its BD357 (PF) 8 EXHIBIT A BD357 (PF) 9 PRELIMINAL.. OFFICIAL S'TA MENT DATED,IANU 112,1990 NEW ISSUE 1' ; ! ' • RA 14siG: Standard & P r' "AA+"* Ill• i ' ' , ; (See the capdon "RA NG"herein) • In the opinion of Davis, Graham & Stubbs, Bond ()tinsel, under existing law and assuming com liance by the 111 • Company,the Issuer and any other user or owner of the „ ()Act with certain requirements of the Interns Revenue Code of 1986,as amended (the "Code"):(i) the thtereat on the Bonds is not includable in grass income for fede al income tax purposes,except for any period during which a Bond is eld by a person wh',is a "substantial user' of the Project or a • 1 `related person"within the meaning of Section 147(a) of the Code and except that the Company, the 1'ssuer and any �' other user or owner of the Project, by taking action after the date of iasuanc'e o f the Bonds that causes to$40,000 D00 I limitation set orth in Section 144(a)(10)of the Code to b` exceeded,ma ca a interest on the Bonds to b includable in gross income for federal income tax purposes (retrpactiii to the date of issuance of the Bonds);and(ii) he interest on the Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed rt Individuals, 'II trusts,estates and subject to certain exceptions,corporations. Also,in the opinion of Bond Counsel,the ntftest on the 8 Bonds is exempt from Utah individual income tax. Seel!"TAX EXEMPTION." $1,410,000 SALT LAKE CITY, UTAH - ' ! INDUSTRIAL DEVELOPMENT' tEVENUE RFUNDIIG BONDS (JTM FOOTHILL VILLAGE PROJECT) Dated: January 1, 1990 SEMI 1990 Due: December 1, 2000 Interest Rate: !6 j Pi© 100% The Bonds are being Issued as fully registered Bon, s denominations;of$5,000 or any in al multiple thereof pursuant to an Indenture of Trust dated as of Jab 1, 990 (tbe "Indenture") between Salt Lake ity Utah (the 'Issuer")and Zions First National Bank,a national b `rigg association,as trustee('tbe"Trustee").The EBoon are being issued for the purpose of refunding certain outstand ndustrial development revenue bonds of the Is Lilliepreviously R issued to finance the acquisition,construction and rehabilitation of a retail shopping center located in Salt Lake City,Utah •1. (the"Project"). The Project is owned by JTM Foothill Limited,a limited partnership organized and existing under the laws of the State of Utah (the "Company"). s . Interest on the Bonds shall be payable semiannually��n June 1 and December 1(ea h an"Interest Payment Date")in each year commencing on June 1,1890.Interest wi(1 be p 'don each Interestpayment ate by check mailed by,or in the case of an Owner of$1,000,000 or more in principal amot of the Bonds by ware transfer from,Zions First National Bank ias the Paying Agent(the"Paying Agent") on such Inter¢at Payment Date to the registered owners of Bo de'of record at 2 the close of business on the fifteenth day of the month nett preceding such Interest Payrhent Date.Principal of the Bonds 1Is gentpayable at the principal corporate trust office of the PIa ying Agent in Salt Lake City, Utah,or its suet r, as Paying p A . The Bonds are not subject to redemption prior to maturity.The Bonds are subject to acceleration prior to maturity 11 under certain circumstances as more fully described herein. the caption,"THE BONDS — Acceler tion herein. The payment of the principal of and up to 185 days qf interest on the Bonds will be provided for unde an irrevocable ' B direct-pay letter of credit (the "Letter of Credit"),issued in favor of the Trustee by 3 400 THE SUMITOMO BANK, LIMITED (Chic .go Branch) ' (the"Letter of Credit Bank").The Letter of Credit;whit}will expire on December 15,2000,will allow the tee to draw 14 thereunder an amount equal to the outstanding principal amount of the Bonds at maturity or accelera ion plus up fo 186 days Interest on the Bonds, On each Interest Payment Date and upon maturityor acceleration of he Bonds, the Trustee is required to draw under the Letter of Credit a amount sufficient to pay when due such princi al and interest i i• and use the amount so drawn to make the required pa' ente on the Bonds. See the caption "SEC Y FOR THE •1 BONDS —The Letter of Credit"herein. The obligations of the Company under the Financ Agreement are not secured by a mortgage on or securityY interest in the Projject. No real or personal property of the Comm¢'any has been pledged to astute the obligations o the Co)npany under the Financing Agreement and no general or limited partner of the Company shall have any obligati° to satisfy any f ,A of the obligations of the Company under the Financing Agreement from any seta other than assets of th Company.See the caption"SECURITY FOR THE BONDS"herein.P ter}tial purchasers o the Bonds should,therefo ,evaluate their I investment decision on the basis of the Letter of Credit and the Letter of redit Bank. l • THE BONDS ARE SPECIAL, LIMITED OBLIGATIONS OF THE SUER PAYABLE SOLELY AND ONLY FROM THET'RUST ESTATE PROVIDED UNDER THEINDENTURE INCLUDING'THE AMOUN 'S DRAWN BY Q THE TRUSTEE UNDER THE LETTER OF CREDIT, ITHER TIM FAITH AND CREDIT NOR, HE TAXING POWER OF THE ISSUER THE STATE OF UTAH OR ANY POLITICAL SUBDIVISION THERE F HAS BEEN PLEDGED TO THE PAYMENT OF THE BONDS ANI)THE BONDS SHALL NOT CO STITUTE N R G RISE TO A GENERAL OBLIGATION LIABILITY O ISSUER, THE STATE OF UTAH OR ANY POLITICAL 'i SUBDIVISION THEREOF OR A CHARGE AGAINST THEIR GENERAL CREDIT OR TAXING POWERS, NOR g 1 I SHALL THE BONDS BE CONSTRUED TO CREATE,,NY MORAL OBLIGATION ON THE PART OF THE ISSUER WITH RESPECT TO PAYMENT THEREOF. , ! a The Bonds are offered when as and ifissued by the,�ssuer and delivered to and accepted by the Undfrwriter named I"a below,subject to the approval of certain egal matte by Davis,Graham&Stubbs,Bond Counsel.Certain legal chatters will be passed upon for the Company by John 1;t. Thackeray, Esq., for the Issuer by Roger Cutler, Elq.,.and for the ' Underwriter by Ballard, Spahr, Andrew. ti Ingersoll, T e validity of thq Letter of Credit will be pied upon by 1 �' Chapman and Cutler,as United States counsel aid by.&1Sh1 Tanaka&Takahashi,ad Japanese counsel to,the Litter of ? Credit Bank.Delivery of the Bonds is expecteol on or about January , 199b,in Salt Lake City, Utah ainet payment therefor. . • • ii . • : Itr linos MO Vie ii' This Officialeai Stat nt is dated . , 1990 • 'Expected rating. (§r) ; i , • No dealer, broker, salesperson, official of either the Issuer, the Company or the Letter of Credit Bank, or any other person has been authorized by the Issuer, the Company, the Letter of Credit Bank or the Underwriter to give any information or to make any representations, other than those contained in this Official Statement, and, if given or made, such other information or representations must not he relied upon as having been authorized by any of the foregoing. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy by any person, nor shall there be any sale of the Bonds by any person, in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the Issuer (the only information provided by the Issuer is set forth under the caption "THE ISSUER"), the Company, the Letter of Credit Bank and other sources which are believed to be reliable, but is not guaranteed as to accuracy or completeness and is not to be construed as a representation by the Underwriter. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Issuer, the Company or the Letter of Credit Bank or in the information or opinions set forth herein since the date hereof. Purchasers of the Bonds represent, by their purchase thereof, that their investment decision has been made entirely on the basis of information contained in this Official Statement, and not otherwise. BD724 (PF) TABLE OF CONTENTS INTRODUCTORY STATEMENT 1 CERTAIN BONDHOLDERS' RISKS 3 SECURITY FOR THE BONDS 6 THE ISSUER 6 THE BONDS 7 USE OF PROCEEDS 9 THE LEIT'ER OF CREDIT BANK 9 THE LETTER OF CREDIT AND THE LETTER OF CREDIT AGREEMENT 11 THE PROJECT 12 THE COMPANY 12 THE INDENTURE 13 THE FINANCING AGREEMENT 21 TAX EXEMPTION 27 LEGAL MA1"1'ERS 28 NO LITIGATION 29 RATING 29 UNDERWRITING 29 MISCELLANEOUS 30 APPENDIX A -- CERTAIN DEFINITIONS A-1 APPENDIX B -- FORM OF LETTER OF CREDIT B-1 IN CONNECTION WITH THIS OFFERING, THE UNDERWRITER MAY OVERALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF THE BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZATION, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE REGISTRATION OR QUALIFICATION OF THESE SECURITIES IN ACCORDANCE WITH APPLICABLE PROVISIONS OF SECURITIES LAWS OF THE STATES IN WHICH THESE SECURITIES HAVE BEEN REGISTERED OR QUALIFIED AND THE EXEMPTION FROM REGISTRATION OR QUALIFICATION IN OTHER STATES, SHALL NOT BE REGARDED AS A RECOMMENDATION THEREOF. NEITHER THESE STATES NOR ANY OF THEIR AGENCIES HAVE PASSED UPON THE MERITS OF THE SECURITIES OR THE ACCURACY OR COMPLETENESS OF THIS OFFICIAL STATEMENT. ANY REPRESENTATION TO THE CONTRARY MAY BE A CRIMINAL OFFENSE. BD724 (PF) BD724 (PF) OFFICIAL STATEMENT $7,410,000* SALT LAKE CITY, UTAH INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS (JTM FOOTHILL VILLAGE PROJECT) SERIES 1990 INTRODUCTORY STATEMENT This Official Statement, including the Appendices attached hereto, is furnished in connection with the offering and sale by Salt Lake City, Utah (the "Issuer"), of its Industrial Development Revenue Refunding Bonds (JTM Foothill Village Project) Series 1990, in the aggregate principal amount of $7,410,000* (the "Bonds") . Capitalized terms used in this Official Statement and not otherwise defined herein are defined in Appendix A: "CERTAIN DEFINITIONS. " All other capitalized terms not otherwise defined shall have the meanings ascribed to such terms in the hereinafter defined Indenture or Financing Agreement. The Bonds are being issued under the Industrial Facilities and Development Act, Title 17, Chapter 11, Utah Code Annotated 1953, as amended (the "Act"), an Indenture of Trust dated as of January 1, 1990 (the "Indenture"), between the Issuer and Zions First National Bank, as trustee (the "Trustee") and the registrar (the "Registrar"), and a resolution duly adopted by the City Council of the Issuer prior to the issuance of the Bonds. The Bonds will be dated, mature and bear interest as set forth on the cover page hereof and as more fully described under the caption "THE BONDS -- General Terms". The proceeds of the Bonds will be loaned to JTM Foothill Ltd. , a limited partnership organized and existing under the laws of the State of Utah (the "Company"), pursuant to a Financing Agreement dated as of January 1, 1990 (the "Financing Agreement"), between the Issuer and the Company. The proceeds of the Bonds will be used to reimburse California Federal Savings & Loan Association for amounts drawn under its letter of credit to redeem the Issuers Floating Rate Demand Industrial Development Revenue Bonds, Series 1984 (the "Series 1984 Bonds") on December 1, 1989. The Series 1984 Bonds were previously issued by the Issuer to finance the acquisition, construction and rehabilitation of portions of a retail shopping center located in Salt Lake City, Utah, known as "Foothill Village" (the "Project") . The Project is owned solely by the Company. See the caption "THE COMPANY" herein. Concurrently with and as a condition to the issuance of the Bonds, the Company will cause to be delivered to the Trustee, for the benefit of the registered owners of the Bonds, an irrevocable direct pay Letter of Credit (the "Letter of Credit") issued by The Sumitomo Bank, Limited, acting through its Chicago Branch (the "Letter of Credit Bank") . The *Subject to change. Letter of Credit will extend for a term expiring on December 15, 2000. The Trustee will he entitled under the Letter of Credit to draw up to (a) the principal amount of the Bonds upon their maturity or acceleration, plus (b) an amount equal to 185 days of interest on the Bonds. The Company and the Letter of Credit Bank will enter into a Letter of Credit Agreement dated as of January 1, 1990 (the "Letter of Credit Agreement") , which sets forth certain obligations of the Company with respect to the reimbursement of the Letter of Credit Bank for amounts paid under the Letter of Credit. See the caption "THE LE1rEP OF CREDIT AND THE LETTER OF CREDIT AGREEMENT" herein. The obligations of the Company under the Letter of Credit Agreement will be secured by a Deed of Trust, Assignment of Rents and Security Agreement dated as of January 1, 1990 (the "Bank Deed of Trust") , encumbering the Project for the benefit of the Letter of Credit Bank. Simultaneously, with the delivery of the Bonds the reimbursement obligations of the Company to the Letter of Credit Bank under the Letter of Credit Agreement, the Bank Deed of Trust and the related note will be sold by the Letter of Credit Bank to a third party purchaser (the "Deed of Trust Purchaser") . See the caption, "THE LETTER OF CREDIT AND THE LETTER OF CREDIT AGREEMENT" herein. The Bonds will be secured by a pledge of all of the right, title and interest of the Issuer in and to the Financing Agreement and the proceeds of payments derived from the Financing Agreement, including all moneys, revenues and receipts to be received thereunder, and by moneys payable from the Letter of Credit. See the caption "SECURITY FOR THE BONDS" herein. The payments to be made by the Company pursuant to the Financing Agreement are required to be in an amount sufficient, together with other funds available for such purpose, to pay the principal of and interest on the Bonds when due. The obligations of the Company under the Financing Agreement are not secured by a mortgage on or security interest in the Project. No real or personal property of the Company has been pledged to secure the obligations of the Company under the Financing Agreement and no general or limited partner of the Company shall have any obligation to satisfy any of the obligations of the Company under the Financing Agreement from any assets other than assets of the Company. See the caption "SECURITY FOR THE BONDS" herein. Potential purchasers of the Bonds should. therefore, evaluate their investment decision on the basis of the Letter of Credit and the Letter of Credit Bank. The Bonds are subject to acceleration upon a failure of the Letter of Credit Bank to pay any amount due under the Letter of Credit or upon the bankruptcy, insolvency or other similar event with respect to the Letter of Credit Bank. See the caption "THE INDENTURE -- Defaults and Remedies" herein. The Bonds are not subject to redemption or acceleration prior to maturity in the event interest on the Bonds is ever declared to be or becomes includible in gross income for federal income tax purposes. Accordingly, the Bonds could remain outstanding even though interest thereon had become subject to federal income taxation from the date of BD724 (PF) 2 01/12/90 original issuance. See the captions "THE BONDS--No Redemption Prior to Maturity" and "TAX EXEMPTION" herein. THE BONDS ARE SPECIAL, LIMITED OBLIGATIONS OF THE ISSUER PAYABLE SOLELY AND ONLY FROM THE TRUST ESTATE PROVIDED UNDER THE INDENTURE, INCLUDING THE AMOUNTS DRAWN BY THE TRUSTEE UNDER THE LETTER OF CREDIT. NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE ISSUER, THE STATE OF UTAH OR ANY POLITICAL SUBDIVISION THEREOF HAS BEEN PLEDGED TO THE PAYMENT OF THE BONDS, AND THE BONDS SHALL NOT CONSTITUTE NOR GIVE RISE TO A GENERAL OBLIGATION LIABILITY OF THE ISSUER, THE STATE OF UTAH OR ANY POLITICAL SUBDIVISION THEREOF OR A CHARGE AGAINST THEIR GENERAL CREDIT OR TAXING POWERS, NOR SHALL THE BONDS BE CONSTRUED TO CREATE ANY MORAL OBLIGATION ON TILE PART OF THE ISSUER WITH RESPECT TO PAYMENT THEREOF. Brief descriptions of the Issuer, the security for the Bonds, the Bonds, the Letter of Credit Bank, the Letter of Credit, the Letter of Credit Agreement, the Project and the Company are included in this Official Statement, together with summaries of the Indenture and the Financing Agreement. Such descriptions do not purport to be comprehensive or definitive. All summaries herein of documents and agreements are qualified in their entirety by reference to such documents and agreements, and all references herein to the Bonds are qualified in their entirety by reference to the form thereof included in the Indenture and the information with respect thereto included in the aforesaid documents and agreements, all of which are available for inspection at the principal corporate offices of the Trustee. The information contained in this Official Statement under the headings "THE PROJECT" and "THE COMPANY" has been furnished by the Company; and the information under the headings "THE LETTER OF CREDIT AND THE LETTER OF CREDIT AGREEMENT" and "THE LETTER OF CREDIT BANK" has been furnished by the Letter of Credit Bank. CERTAIN BONDHOLDERS' RISKS The purchase of the Bonds involves a number of risks. The following is a summary of certain risks, which does not purport to he comprehensive or definitive. Limited Security The Bonds are special and limited obligations of the Issuer payable solely from certain funds (including proceeds of drawings on the Letter of Credit) pledged to and held by the Trustee pursuant to the Indenture. THE LETTER OF CREDIT AND THE LETTER OF CREDIT BANK SHOULD BE EVALUATED AS THE SOURCE OF FUNDS FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS. NO ASSURANCE OR REPRESENTATION IS MADE AS TO THE AVAILABILITY OF MONEYS OF THE COMPANY FOR SUCH PURPOSE IN THE EVENT TILE LETTER OF CREDIT BANK DEFAULTS UNDER THE LETTER OF CREDIT. See the captions "TILE LETTER OF CREDIT BANK" and "THE LETTER OF CREDIT AND THE LETTER OF CREDIT AGREEMENT" herein for further information concerning the Letter of Credit Bnnk and the Letter of Credit. BD724 (PF) 3 01/12/90 Failure of the Letter of Credit Bank; Insufficiency of Other Security In the event the Letter of Credit Bank fails to honor a draw under the Letter of Credit, the Bonds will be payable from and secured solely by moneys, if any, received by the Trustee from the Company pursuant to the Financing Agreement. NO REPRESENTATION OR ASSURANCE CAN BE GIVEN THAT THE COMPANY WILL BE ABLE TO MAKE PAYMENTS UNDER THE FINANCING AGREEMENT OR THAT AMOUNTS, IF ANY, SO PAID WOULD BE SUFFICIENT TO PAY THE PRINCIPAL OF OR' INTEREST ON THE BONDS. The obligations of the Company under the Financing Agreement are not secured by a mortgage on or security interest in the Project or any real or personal property of the Company and are nonrecourse obligations of all partners, including general partners of the Company. See the caption "THE FINANCING AGREEMENT--Nonrecourse Provisions" herein. Enforceability and Bankruptcy There are limited provisions in the Bonds and the Indenture for an acceleration of any principal of or interest on the Bonds upon the occurrence of an Indenture event of default. See the caption "THE INDENTURE--Defaults and Remedies" herein. The remedies available to the Trustee and the holders of the Bonds upon an event of default under the Financing Agreement or the Indenture are in many respects dependent upon regulatory and judicial actions which are often subject to discretion and delay. Under existing laws and judicial decisions, the remedies provided under the aforesaid documents may not readily be available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Bonds and the aforesaid documents will be qualified to the extent that the enforceability of certain legal rights related to the Bonds are subject to limitations imposed by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors generally and by equitable remedies and proceedings generally. Taxability The Bonds are not subject to redemption or acceleration prior to maturity in the event interest on the Bonds is ever declared to be or becomes includible in gross income for federal income tax purposes. Accordingly, the Bonds will remain outstanding even though interest thereon becomes subject to federal income taxation from the date of original issuance. No assurance can be given that there will be any market for the sale of the Bonds at such time or that the owners of the Bonds will not incur a loss upon any such sale. On the date of issuance of the Bonds, Bond Counsel will deliver its opinion that, under existing law and assuming compliance by the l�.ompany, the Issuer and any other user or owner of the Project with certain requirements of the Internal Revenue Code of 1986, as amended (the "Code") , that must be met subsequent to the issuance of the Bonds, interest on the Bonds is not includable in gross income for federal income tax purposes, subject to certain customary exceptions. See "TAX EXEMPTION. " One of such customary exceptions is that the Company, the BD724 (PF) 4 01/12/90 Issuer. or any other user or owner of the Project, by taking action after the date of issuance of the Bonds that causes the $40,000,000 limitation set forth in Section 144(a)(10) of the Code (the "$40,000,000 limitation") to be exceeded, may cause interest on the Bonds to be includable in gross income for federal income tax purposes retroactive to the date of issuance of the Bonds. The $40,000,000 limitation would be exceeded if the face amount of the Bonds allocated to any "test-period beneficiary," when increased by the outstanding "tax-exempt facility-related bonds" of such "test-period beneficiary," exceeds $40,000,000. A person will be a "test- period beneficiary" with respect to the Bonds if such person is an owner or a principal user of the Project during the three year period beginning on the date of issuance of the Bonds. The Company has covenanted in the Financing Agreement that it will not take any action that would cause interest on the Bonds to be includable in gross income for federal income tax purposes. The Company also has certified that neither it nor any other current principal user of the Project currently has "tax-exempt facility-related bonds" allocable to it which would cause the $40,000,000 limitation to be exceeded on the date of issuance of the Bonds. The Company also has covenanted in the Financing Agreement that it will not transfer the Project or any interest therein to any person unless the transferee covenants that it will not take any action that would cause the $40,000,000 limitation to be exceeded. The Financing Agreement specifically provides that any first lien mortgage lender or its successors in interest (collectively, the "Mortgage Lender") who acquires the Project through foreclosure or any related proceedings, any assignee thereof, or any person who acquires title to any interest in the Project from a Mortgage Lender is not bound by the covenants of the Financing Agreement, including the covenants relating to the $40,000,000 limitation and the other tax covenants intended to maintain the tax-exempt status of the Bonds. Should the Company default in its obligations to a Mortgage Lender, and the Mortgage Lender successfully acquires the Project through foreclosure or related proceedings within three years following the issuance of the Bonds, and the Mortgage Lender causes the $40,000,000 limitation set forth in Section 144(a)(10) of the Code to be exceeded, such events may cause interest on the Bonds to be includable in gross income retroactive to the date of issuance of the Bonds. In addition, the Mortgage Lender or subsequent transferee may, as owner of the Project, cause the use of the Project to otherwise violate the provisions of the Code with respect to the tax-exempt status of the Bonds. See the information under the caption "THE PROJECT" and "THE COMPANY" for additional information with respect to the Project and the Company. SECURITY FOR THE BONDS General The Bonds constitute special , limited obligations of the Issuer, payable solely from and secured by the lien of the Indenture on the Trust BD724 (PF) 5 01/12/90 Estate (as hereinafter defined), including a pledge and assignment of all Loan payments to be made by the Company pursuant to the Financing Agreement, which Loan payments, if made, will be sufficient to pay the principal of and interest on the Bonds. The obligations of the Company under the Financing Agreement to make loan repayments are secured by the Letter of Credit. The Bonds shall never constitute the debt or indebtedness of the Issuer within the meaning of any provision or limitation of the Constitution or statutes of the State, and shall never constitute or give rise to a pecuniary liability of the Issuer or a charge against its general credit or taxing power. Pursuant to the Indenture, the Issuer will assign to the Trustee for the benefit of the Bondholders all of its right, title and interest in and to the properties and rights (excluding Reserved Rights) described in the granting clauses of the Indenture (the "Trust Estate"), including (a) the rights of the Issuer in, under and pursuant to the Financing'Agreement; (b) all receipts and revenues receivable by or on behalf of the Issuer pursuant to the Financing Agreement, including, but not limited to, the Issuer's rights to receive Loan payments and other amounts due thereunder; and (c) all moneys and securities from time to time held by the Trustee under the Indenture and any and all other real or personal property of every name and nature from time to time by delivery or by writing of any kind specially mortgaged, pledged or hypothecated, as and for additional security by the Issuer or by anyone on its behalf or with its written consent in favor of the Trustee, which is authorized to receive any and all such property at any and all times and to hold and apply the same subject to the terms of the Indenture. The Letter of Credit The Letter of Credit issued with respect to the Bonds is an irrevocable obligation of The Sumitomo Bank, Limited, acting through its Chicago Branch, which will extend for a term expiring on December 15, 2000. The principal of the Bonds upon maturity, and the interest thereon on each Interest Payment Date are payable from drawings under the Letter of Credit, upon request and presentation by the Trustee of certain certificates in accordance with the terms of the Letter of Credit. The ability of the Letter of Credit Bank to honor a draw by the Trustee under the Letter of Credit is based solely on the general credit of the Letter of Credit Bank and is not secured by any specific pledged assets of such bank. THE ISSUER The Issuer is a municipal corporation organized and existing under the laws of the State of Utah. Pursuant to the Utah Industrial Facilities and Development Act, Chapter 17, Title 11, Utah Code Annotated 1953, as amended (the "Act"), the Issuer is authorized to issue the Bonds to refund the Series 1984 Bonds and to secure the Bonds by an assignment of the amounts to be received under the Financing Agreement. BD724 (PF) 6 01/12/90 THE BONDS General Terms The Bonds initially issued shall be dated as of January 1, 1990, and thereafter, Bonds subsequently issued shall be dated as of their respective dates of authentication. Each Bond shall bear interest at the rate set forth on the cover page hereof payable on each Interest Payment Date. Each Bond issued prior to the initial Interest Payment Date shall bear interest from and including January 1, 1990. Each Bond issued on or after the initial Interest Payment Date shall bear interest from and including the Interest Payment Date immediately preceding or coinciding with the date of authentication thereof; provided, however, that if, as shown by the records of the Trustee, interest on the Bonds shall be in default, Bonds issued in exchange for Bonds surrendered for registration of transfer or exchange shall bear interest from the date to which interest has been paid in full on the Bonds or, if no interest has been paid on the Bonds, January 1, 1990. The Bonds shall mature on December 1, 2000. Interest on the Bonds shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The Bonds shall be deliverable as fully registered bonds without coupons in denominations of $5,000, or any integral multiple thereof. The principal of the Bonds shall be payable in such coin or currency of the United States of America as, at the respective times of payment, shall be legal tender for the payment of public and private debts, to the Owners of the Bonds upon presentation and surrender of such Bonds at the principal office of the Paying Agent. Interest on the Bonds shall be paid on each Interest Payment Date by check mailed by, or in the case of an owner of $1,000,000 or more in principal amount of the Bonds by wire transfer from, the Paying Agent on such Interest Payment Date to the Owners of the Bonds of record at the close of business on the fifteenth day of the month next preceding such Interest Payment Date at their registered addresses as they appear on the registration books maintained by the Registrar, or in the case an Owner who qualifies for wire transfer, as specified in written instructions delivered to the Paying Agent by such Owner. Bonds Special, Limited Obligations. THE BONDS ARE SPECIAL, LIMITED OBLIGATIONS OF THE ISSUER PAYABLE SOLELY AND ONLY FROM THE TRUST ESTATE._ PROVIDED UNDER THE INDENTURE, INCLUDING THE AMOUNTS DRAWN BY THE TRUSTEE UNDER THE LETTER OF CREDIT. NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE ISSUER, THE STATE OF UTAH OR ANY POLITICAL SUBDIVISION THEREOF HAS BEEN PLEDGED TO THE PAYMENT OF THE BONDS, AND THE BONDS SHALL NOT CONSTITUTE NOR GIVE RISE TO A GENERAL OBLIGATION LIABILITY OF THE ISSUER, THE STATE OF UTAH OR ANY POLITICAL SUBDIVISION THEREOF OR A CHARGE AGAINST THEIR GENERAL CREDIT OR TAXING POWERS, NOR SHALL THE BONDS BE CONSTRUED TO CREATE ANY MORAL OBLIGATION ON THE PART OF THE ISSUER WITH RESPECT TO PAYMENT THEREOF. See the caption "SECURITY FOR THE BONDS-- General" herein. BD724 (PF) 7 01/12/90 Lost, Destroyed or Improperly Cancelled Bonds. If any Bond is lost (whether by reason of theft or otherwise) , destroyed (whether by mutilation, damage, in whole or in part, or otherwise) or improperly cancelled, the Issuer may execute and the Registrar may authenticate a new Bond of the same maturity, date and denomination as the lost, destroyed or improperly cancelled Bond and bearing a number not contemporaneously outstanding; provided that: (i) in the case of any mutilated Bond, such mutilated Bond shall first be surrendered to the Registrar and (ii) in the case of any lost Bond or Bond destroyed in whole, there shall be first furnished to the Issuer, the Registrar and the Company evidence of such loss or destruction, together with indemnity, satisfactory to each of them. Upon the issuance of any substitute Bond, the Issuer and the Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. The Registrar and the Issuer may charge the Owner of any such Bond with their reasonable fees and expenses in connection with such transaction. Every substitute Bond issued pursuant to the provisions of the Indenture by virtue of the fact that any Bond is lost, destroyed or improperly cancelled shall constitute an additional contractual obligation of the Issuer (payable only as provided in, and subject to each of the terms of, the Indenture), whether or not the lost, destroyed or improperly cancelled Bond shall be at any time enforceable, and shall be entitled to all the benefits of the Indenture equally and proportionately with any and all other Bonds duly issued hereunder. Registration, Registration of Transfer and Exchange of Bonds. The Registrar shall maintain and keep, at its principal office, books for the registration and registration of transfer of Bonds. The transfer of any Bond shall be registered upon the registration books of the Registrar at the written request of the Owner thereof or his attorney duly authorized in writing, upon surrender thereof at the principal office of the Registrar, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Owner or his duly authorized attorney. Upon the registration of transfer of any Bond or Bonds, the Issuer shall issue in the name of the transferee a new Bond or Bonds in the same principal amount as the surrendered Bond or Bonds. The Issuer, the Trustee, the Paying Agent, the Registrar and the Company may deem and treat the Owner of any Bond as the absolute owner of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and none of the Issuer, the Trustee, the Paying Agent, the Registrar or the Company shall be affected by any notice to the contrary. Bonds, upon surrender thereof at the Principal Office of the Registrar, may, at the option of the Owner thereof, be exchanged for an equal aggregate principal amount of Bonds in any authorized denominations . For every such exchange or registration of transfer of Bonds, whether temporary or definitive, the Issuer and the Registrar may make a charge sufficient to reimburse them for any tax or other governmental BD724 (PF) 8 01/12/90 charge required to be paid with respect to such exchange or registration of transfer, which sum or sums shall be paid by the person requesting such exchange or registration of transfer as a condition precedent to the exercise of the privilege of making such exchange or registration of transfer. No Redemption Prior to Maturity The Bonds shall not be subject to redemption prior to maturity. Acceleration The Bonds are subject to acceleration upon a failure of the Letter of Credit Bank to honor any draw properly presented under the Letter of Credit and upon the bankruptcy, insolvency or occurrences of any other similar event with respect to the Letter of Credit Bank. See the caption "THE INDENTURE -- Defaults and Remedies" herein. USE OF PROCEEDS All proceeds of the Bonds will be used to refund the Series 1984 Bonds on the delivery date of the Bonds. To accomplish said refunding, the proceeds of the Bonds will be transferred to California Federal Savings and Loan Association to reimburse California Federal Savings and Loan Association for the amounts drawn under its letter of credit to redeem the Series 1984 Bonds. THE LEr1'F.R OF CREDIT BANK The Letter of Credit Bank The Sumitomo Bank, Limited is one of 13 city banks in Japan. It provides a comprehensive range of wholesale and retail banking services both in Japan and abroad. As of March 31, 1989, The Sumitomo Bank had total assets of 52,962, 156 million yen ($400.6 billion), total deposits and certificates of deposit of 38,666,273 million yen ($292.5 billion) , and total stockholders equity of 1,295,241 million yen ($9.8 billion) . Its foreign currency assets (including those attributable to its domestic business) represented 37. 9% of its total assets. The Sumitomo Bank is one of Japans most active international banking institutions. As of the year ended March 31, 1989, The Sumitomo Bank ranked second in terms of deposits and first in terms of net income among the 77 ordinary banks in Japan, based on its published audited, nonconsolidated accounts for that year. In Japan, The Sumitomo Bank operates through a domestic network of 318 offices; overseas it has 17 branches, two agencies, two sub-branches, 22 representative offices, 15 subsidiaries, and seven affiliates. (More than 50% ownership) . The registered head office of The Sumitomo Bank is located at 6-5, Kitahama 4-chome, Chou-ku, Osaka, Japan. Its Tokyo head BD724 (PF) 9 01/12/90 office is located at 3-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan. The common stock of The Sumitomo Bank, Limited is listed on the Tokyo, Osaka and other Japanese stock exchanges as well as the London and Paris stock exchanges. The Chicago Branch The Sumitomo Bank's Chicago Branch has been authorized by the Illinois Commissioner of Banks and Trust Companies to conduct a full commercial banking business since May, 1974. The Chicago Branch conducts an extensive banking business concentrating primarily on international banking transactions and servicing the financial needs of its Japanese and American customers in the United States. As of March 31, 1989, the total assets of the Chicago Branch were $2. 6 billion. The Chicago Branch is an unincorporated branch of The Sumitomo Bank and is not a subsidiary of the Letter of Credit Bank. Financial Performance for the Fiscal Year Ended March 31, 1989 The Sumitomo Bank's nonconsolidated net income for the fiscal year ended March 31, 1989 amounted to 198,314 million yen ($1,500 million), representing a 78. 3% increase from the previous fiscal year's 111,243 million yen ($841.5 million) . As of March 31, 1989, deposits totaled 38,666,273 million yen ($292.5 billion) , an increase of 18.8% from the previous year's figure of 32,551,553 million yen ($246. 2 billion) , and total assets stood at 52,962, 156 million yen ($400.6 billion) , representing an increase of 20. 1% from 44,096, 198 million yen ($333.6 billion) recorded at the end of the prior fiscal year. United States and Japanese Generally Accepted Accounting Principles The financial information on The Sumitomo Bank, Limited presented in this Official Statement is derived from financial statements that conform with accounting principles generally accepted in Japan. Japanese accounting principles differ in certain respects from accounting principles generally accepted in the United States. The Sumitomo Bank, Limited maintains its records and prepares its financial statements in Japanese Yen. U. S. Dollar amounts are presented solely for convenience. The rate used for U.S. Dollar amounts herein is Yen 132. 2 = $1. 00, the rate of exchange on March 31, 1989. It should not be assumed that Japanese Yen could be converted as of the date of this Official Statement to U.S. Dollars at the same or any other rate. The Sumitomo Bank, Limited will provide, without charge \to each person to whom this Official Statement is delivered, on request; a copy of its nonconsolidated financial statements. A written request should be directed to: The Sumitomo Bank, Limited, Chicago Branch, Sears Tower, Suite 7117, 233 South Wacker Drive, Chicago, Illinois, 60606-6448, Attention: Manager - Loan Section; Telephone (312) 876-0525. BD724 (PF) 10 01/12/90 THE LECI R OF CREDIT AND THE LETTER OF CREDIT AGREEMENT The Letter of Credit will be issued pursuant to the Letter of Credit Agreement. The following summarizes certain provisions of the Letter of Credit and the Letter of Credit Agreement, to which documents, in their entirety, reference is made for the complete provisions thereof. The Letter of Credit is, in all respects, an irrevocable obligation of the Letter of Credit Bank. The Letter of Credit will be issued in an amount equal to the aggregate principal amount of the Bonds, plus 185 days' interest thereon at the rate shown on the cover of this Official Statement. The Trustee, upon compliance with the terms of the Letter of Credit, is authorized and directed to draw up to (a) an amount sufficient to pay the principal of the Bonds when due, whether upon maturity or acceleration, and (b) an amount not to exceed 185 days' accrued interest on such Bonds at the rate shown on the cover of this Official Statement to pay interest on the Bonds when due. The amount available under the Letter. of Credit will be reduced to the extent of any drawing thereunder; provided that, with respect to a drawing by the Trustee solely to pay interest on the Bonds on an Interest Payment Date, the amount available under the Letter of Credit will be automatically reinstated in the amount of such drawing, effective as of the date of such drawing. The Letter of Credit will terminate on the close of business of the Letter of Credit Bank on December 15, 2000. The Letter of Credit Agreement requires the Company to promptly reimburse the Letter of Credit Bank on each date that any amount is drawn on the Letter of Credit for the full amount of such drawing. A failure of the Company to reimburse the Letter of Credit Bank or a default with respect to the performance of covenants and warranties contained in the Letter of Credit Agreement will have no effect upon the Letter of Credit Bank's obligations under the Letter of Credit and will not result in an acceleration of the maturity of the Bonds or otherwise constitute an Event of Default under the Indenture or the Financing Agreement. All of the obligations of the Company under the Letter of Credit Agreement are payable from moneys of the Company and are further secured by the Bank Deed of Trust. The Bank Deed of Trust secures the obligations of the Company under the Letter of Credit Agreement and will not run to the Trustee for the benefit of the Bondholders, and neither the Trustee nor the Bondholders will have any rights to receive payment therefrom. It is anticipated that the Bank Deed of Trust will be sold to the Deed of Trust Purchaser as described under the caption "INTRODUCTORY STATEMENT" herein. Tl{E PROJECT The Foothill Village Shopping Center was purchased from the original developers by the Company on January 1, 1985. A portion of the Shopping BD724 (PF) 11 01/12/90 Center (the "Project") was purchased and renovated with proceeds of the Series 1984 Bonds. Since the original purchase, the Company has systematically remodeled, reconstructed and added to the Shopping Center. Approximately 30, 000 square feet were torn down and approximately 70,000 feet were remodeled. The balance of 200,000 square feet is new construction housing anchor tenants, ZCMI and Dan's Foods. The Shopping Center has approximately 277,700 square feet of retail space of which approximately 217,000 square feet are leased. Neither the Project nor any other portions of the Shopping Center are pledged to the payment of the Bonds. TILE COMPANY The Company is a limited partnership organized and existing under the laws of the State of Utah. The general partners are Armand D. Johansen and John R. Thackeray and each has an equal interest in the partnership. The partnership has four limited partners, each having the following percentage interest: Armand D. Johansen 31 1/3% John Thackeray 31 1/3% Richard L. Warner 32 1/3% Craig Christensen 3% In addition, each of the general partners has an additional 1% limited partnership interest as a general partner. The Foothill Village Shopping Center, including the Project, is the sole asset of the Company. The general partners are real estate developers and property managers who have developed several retail projects in Salt Lake, Davis and Utah Counties ranging from 50,000 to 277,000 square feet. Each general partner has a law degree. Richard L. Warner is the principal limited partner in addition to the two general partners. He is the President and Chairman of R. L. Warner Enterprises, a Utah corporation, the principal assets of which include seven automobile dealership locations in Salt Lake, Davis and Utah Counties. Craig Christensen is the Chief Financial Officer of R. L. Warner Enterprises. Simultaneously with the issuance of the Bonds, the Mortgage Lender is making a mortgage loan to the Company in the amount of $28, 750,000 (the "Loan"), including the amount necessary to purchase the reimbursement obligation from the Letter of Credit Bank as described under "INTRODUCTORY STATEMENT" herein. In making its decision to make the Loan to the Company, the Mortgage Lender obtained an MAI Appraisal in September, 1989 which indicates that the Shopping Center has a value of $36,000,000 based upon an income capitalization approach. In addition, as a condition to making such loan, the Company has agreed to provide the following to the Mortgage Lender: BD724 (FT) 12 01/12/90 - A letter of credit of First Security Bank of Utah, N.A. in place at all times (if necessary) for an amount equal to the difference between annualized net operating income and 110% of the annualized debt service multiplied by three to secure the loan at all times during the five year period for three years forward. - Armand D. Johansen, John R. Thackeray and Richard L. Warner are signing personally on a master lease over all presently vacant space in the center at the pro forma rents. The master lease will be reduced upon leasing to qualified tenants. THE INDENTURE The Indenture, copies of which are available from the Trustee, contains various covenants and security provisions, some of which are summarized below. The Bond Fund There shall be deposited into the Bond Fund: (a) all Loan payments, and all moneys drawn by the Trustee under the Letter of Credit for the payment of the Bonds; and (b) except as otherwise provided in the Financing Agreement, all other moneys received by the Trustee under and pursuant to any provision of the Financing Agreement or from any other source when accompanied by directions by the Company that such moneys are to be paid into the Bond Fund. Use of Moneys in Bond Fund. Except as otherwise provided in the Indenture, moneys in the Bond Fund shall be used solely for the payment of the principal of and interest on the Bonds on each Interest Payment Date, at maturity, or upon acceleration pursuant to the Indenture. Funds for payment shall be derived from the following sources in the order of priority in which such sources are listed: (a) proceeds of the sale of refunding obligations and proceeds from the investment thereof, to the extent the same constitute Available Moneys; (b) moneys in the Letter of Credit subaccount of the Bond Fund; (c) all other moneys deposited into the Bond Fund which constitute Loan payments and proceeds from the investment thereof, to the extent the same constitute Available Moneys; (d) other moneys deposited into the Bond Fund pursuant to the Financing Agreement and proceeds from the investment thereof, to the extent the same constitute Available Moneys; and BD724 (PF) 13 01/12/90 (e) other moneys in the Bond Fund. Bonds Not Presented for Payment. In the event any Bonds shall not be presented for payment upon maturity or otherwise, if moneys sufficient to pay all amounts due with respect to such Bonds are held by the Paying Agent for the benefit of the Owners thereof, the Paying Agent shall. segregate and hold such moneys in trust, without liability for interest thereon, for the benefit of the Owners of such Bonds, who shall , except as provided hereinbelow, thereafter be restricted exclusively to such fund or funds for the satisfaction of any claim of whatever nature on their part under the Indenture or relating to said Bonds. Any money held by the Trustee or the Paying Agent in trust for the payment of any amount due with respect to any Bond and remaining unclaimed for three years after such amount has become due and payable shall be discharged from such trust and be paid to the Company on the Company's written request, and the Owner of such Bond shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof (but only to the extent of the amounts so paid) , and all liability of the Trustee or the Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Trustee or the Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the City of New York or in the city in which the Principal Office of the Trustee is located, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be paid to the Company. Investments The moneys in the Bond Fund shall, at the direction of the Company, be invested and reinvested in Investment Securities to the extent not prohibited by applicable law. As and when any amounts thus invested may be needed for disbursements from the Bond Fund, the Trustee shall cause a sufficient amount of such investments to be sold or otherwise converted into cash to the credit of such fund. As long as no Event of Default under the Indenture shall have occurred and be continuing, the Company shall have the right to designate the investments to be sold and to otherwise direct the Trustee in the sale or conversion to cash of the investments made with the moneys in the Bond Fund. Purchases and sales of Investment Securities by the Trustee may be made from or through its trust department. Proceeds from the investment of moneys in any fund shall be credited to that fund. Special, Limited Obligations Each and every covenant made in the Indenture is predicated upon the condition that the Bonds shall constitute special, limited obligations of the Issuer payable solely from the receipts and revenues specifically pledged therefor under the Indenture and shall never give rise to a BD724 (PF) 14 01/12/90 general obligation or liability of the Issuer or a charge against its general credit or taxing powers. Defeasance If the Issuer shall pay or cause to be paid to the Owner of any Bond secured by the Indenture the principal of and interest due and payable, and thereafter to become due and payable, on such Bond or any portion of such Bond in an Authorized Denomination in accordance with the terms of the Indenture, such Bond or portion thereof shall cease to be entitled to any lien, benefit or security under the Indenture. If the Issuer shall pay or cause to be paid to the Owners of all the Bonds secured by the Indenture the principal of and interest due and payable, and thereafter to become due and payable, on such Bonds in accordance with the terms of the Indenture, and shall pay or cause to be paid all other sums payable by the Issuer, then, the rights, title and interests of the Trustee in and to the Trust Estate shall thereupon cease, terminate and become void. In such event, the Trustee shall assign, transfer, convey and turn over to the Company the Trust Estate, including, without limitation, any moneys or Investment Securities remaining in the Bond Fund and all other moneys held as part of the Trust Estate. Any Outstanding Bond shall, prior to the maturity date thereof, be deemed to have been paid within the meaning and with the effect expressed in the Indenture when: (i) there shall have been deposited in trust amounts consisting of either: (A) moneys which constitute Available Moneys in an amount which shall be sufficient, or (B) Government Obligations purchased with Available Moneys (1) which shall not contain provisions permitting the redemption thereof at the option of the issuer, (2) which mature no later than the maturity date of the Bond, and (3) the principal of and the interest on which, when due, and without any regard to reinvestment thereof, will provide moneys which, together with the Available Moneys, if any, held in such trust, shall, in the opinion of a nationally recognized accountant or firm of accountants, be sufficient; to pay, when due, the principal of and interest due, and to become due, on the Bonds on and prior to the maturity date thereof, provided, however, that such moneys shall constitute Available Moneys and that the principal of and the interest on such Government Obligations, if then paid, would constitute Available Moneys; and (ii) in the event the Bond does not mature within the next succeeding 60 days, the Company shall have given the Trustee, in form satisfactory to the Trustee, irrevocable instructions to give, as soon as practicable, a notice to the Owner of the Bond that the deposit required by clause (i) of this subsection with respect BD724 (PF) 15 01/12/90 to the Bond has been made in trust and that the Bond is deemed to have been paid and stating the maturity date upon which moneys are to be available for the payment of the principal and interest on of the Bond. Defaults and Remedies Events of Default. Each of the following events shall constitute and is referred to in the Indenture as an "Event of Default": (a) a failure to pay (i) the principal of any of the Bonds when the same shall become due and payable at maturity or (ii) an installment of interest on any of the Bonds after such interest has become due and payable; (b) an "event of default" as such term is defined in the Financing Agreement; (c) a failure by the Issuer to observe and perform any covenant, condition, agreement or provision (other than as specified in clause (a) above) contained in the Bonds or in the Indenture on the part of the Issuer to be observed or performed, which failure shall have continued for a period of 90 days after written notice specifying such failure and requesting that it be remedied shall have been given to the Issuer and the Company by the Trustee. The Trustee may give such notice in its discretion and shall give such notice at the written request of Owners of not less than 25% in principal amount of all Bonds Outstanding as of the date of receipt of such request, unless the Trustee or the Trustee and such Owners, as the case may be, shall agree in writing to an extension of the 90-day period prior to its expiration; provided, however, that the Trustee, or the Trustee and such Owners, as the case may be, shall be deemed to have agreed to an extension of the 90-day period if corrective action is initiated within such period by the Issuer or the Company on behalf of the Issuer and is being diligently pursued; or (d) (i) the failure of the Letter of Credit Bank to pay any properly presented drawing under the Letter of Credit when due; (ii) the Letter of Credit Bank shall have applied for or consented to the appointment of a custodian, receiver, trustee or liquidator of all or a substantial part of its assets; (iii) such a custodian, receiver, trustee or liquidator shall have been appointed with or without consent of the Letter of Credit Bank; (iv) the Letter of Credit Bank is generally not fulfilling its monetary obligations as they become due; (v) the Letter of Credit Bank has filed a petition, pleading or other instrument or document seeking reorganization or an arrangement with creditors or to take advantage of any domestic or foreign laws pertaining to liquidation, reorganization, rehabilitation or insolvency of institutions such as the Letter of Credit Bank; or (vi) a petition under any domestic or foreign laws pertaining to liquidation, reorganization, rehabilitation or insolvency of institutions such as the Letter of Credit Bank shall have been filed against the Letter of Credit Bank and shall not have been dismissed for a period of 60 consecutive days. BD724 (PF) 16 01/12/90 Remedies. Upon the occurrence and continuation of an Event of Default described in subparagraph (d) of the preceding section the Trustee shall declare the principal amount of the Bonds to be immediately due and payable. Upon the occurrence and continuation of an Event of Default described in subparagraph (a) , (b) or (c) of the preceding section, the Trustee in its discretion may, and upon written request of the Owners of a majority in principal amount of the Bonds then Outstanding and receipt of indemnity to its satisfaction the Trustee shall, in its own name and as the Trustee of an express trust: (a) by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Owners of the Bonds, and require the Issuer, the Letter of Credit Bank or the Company to carry out any agreements with or for the benefit of the Owners of the Bonds and to perform its or their duties under the Act, the Financing Agreement, the tax agreement, the Letter of Credit and the Indenture; (b) bring suit upon the Bonds; (c) by action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the Owners of the Bonds; or (d) exercise any remedies of the Issuer under the Financing Agreement. The occurrence and continuance of an Event of Default described in subparagraph (b) or. (c) of the preceding Section shell not give rise to a right on behalf of the Trustee to draw upon the Letter of Credit or to declare the principal amount of the Bonds to be immediately due and payable. The occurrence and continuance of an Event of Default described under subparagraph (a) of the preceding Section shall not give rise to a right on behalf of the Trustee to declare the principal amount of the Bonds to be immediately due and payable unless and Event of Default described under subparagraph (d) of the preceding Section shall also have occurred and be continuing. Owners' Right to Direct Proceedings. By an instrument in writing executed and delivered to the Trustee, the Owners of a majority in principal amount of the Bonds then Outstanding shall have the right under the Indenture to direct the time, method and place of conducting all remedial proceedings available to the Trustee under the Indenture or exercising any trust or power conferred on the Trustee by the Indenture. Limitation on Owners' Right to Institute Proceedings . No Owner of Bonds shall have any right to institute any suit, action or proceedings in equity or at law for the execution of any trust or power under the Indenture, or any other remedy under the Indenture or on the Bonds, unless such Owner previously shall have given to the Trustee written notice of an Event of Default and unless also Owners of not less than 25% in principal amount of the Bonds then Outstanding shall, after the right to institute any such suit, action or proceeding shall have accrued, have requested the Trustee to do so in writing and afforded the Trustee a DD724 (PF) 17 01/12/90 reasonable opportunity to proceed to institute the same in either its or their name, and unless there also shall have been offered to the Trustee security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee shall not have complied with such request within a reasonable time. Such notification, request and offer of indemnity are in every such case, at the option of the Trustee, to be conditions precedent to the institution of any such suit, action or proceeding by the Trustee. No one or more of the Owners of the Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of the Indenture, or to enforce any right thereunder or under the Bonds, except in the manner therein provided. All suits, actions and proceedings at law or in equity shall be instituted, had and maintained in the manner provided in the Indenture and for the equal benefit of all Owners of the Bonds. Application of Moneys. Any moneys received by the Trustee, by any receiver or by any Owner of a Bond pursuant to any right given or action taken under the Indenture, after payment of the costs and expenses of the proceedings resulting in the collection of such moneys, including any amounts due to the Issuer, Trustee, Paying Agent or Registrar, shall be deposited in the Bond Fund. All moneys so deposited in the Bond Fund during the continuance of an Event of Default (other than moneys for the payment of the principal of Bonds which had matured or otherwise become payable prior to such Event of Default or for the payment of interest due prior to such Event of Default) shall be applied as follows: (i) Unless the principal of all the Bonds shall have been declared due and payable, all such moneys shall be applied (A) first, to the payment to the persons entitled thereto of all installments of interest then due on the Bonds, with interest on overdue installments, if lawful, at the rate per annum borne by the Bonds from time to time, in the order of maturity of the installments of such interest and, if the amount available shall not be sufficient to pay in full any particular installment of interest, then to the payment ratably, according to the amounts due on such installment, and (B) second, to the payment to the persons entitled thereto of the unpaid principal of any of the Bonds which shall have become due with interest on such Bonds at their rate from the respective dates upon which they became due and, if the amount available shall not be sufficient to pay in full Bonds due on any particular date, together with such interest, then to the payment ratably, according to the amount of principal and interest due on such date, in each case to the persons entitled thereto, without any discrimination or privilege. (ii) If the principal of al_1 the Bonds shall have been declared due and payable, all such moneys shall be applied to the payment of the then due and unpaid principal of and interest then due and unpaid upon the Bonds, with interest on overdue interest and principal without preference or priority of principal or interest over one another, or of any installment of interest over any other installment of interest, or of any Bond over any other BD724 (PF) 18 01/12/90 Bond, ratably, according to the amounts due respectively for principal and interest, to the persons entitled thereto without any discrimination or privilege. (iii) If the principal of all the Bonds shall have been declared due and payable, and if such declaration shall thereafter have been rescinded and annulled under the provisions of the Indenture, subject to the provisions of clause (ii) above which shall be applicable in the event that the principal of all the bonds shall later become due and payable, the moneys shall be applied in accordance with the provisions of clause (i) above. Whenever moneys are to be applied pursuant to the Indenture, such moneys shall be applied at such times, and from time to time, as the Trustee shall determine, having due regard to the amount of such moneys available for application and the likelihood of additional moneys becoming available for such application in the future. Whenever the Trustee shall apply such funds, it shall fix the date (which shall be an Interest Payment Date unless it shall deem another date more suitable) upon which such application is to be made and upon such date interest on the amounts of principal and interest to be paid on such dates shall cease to accrue. The Trustee shall give Notice by Mail of the deposit with it of any such moneys and of the fixing of any such date to all Owners of Outstanding Bonds, and shall not be required to make payment to any Owner of a Bond until such Bond shall be presented to the Trustee for appropriate endorsement or for cancellation if fully paid. Supplemental Indentures and Amendments to the Financing Agreement Supplemental Indentures Without Consent of Owners. The Issuer may, and, subject to the provisions of the Indenture, the Trustee shall, from time to time and at any time, without the consent of or notice to the Owners of the Bonds, but with the written consent of the Company and the Letter of Credit Bank, enter into supplemental indentures, as follows: (a) to cure any formal defect, omission, inconsistency or ambiguity in the Indenture; (b) to grant to, or confer or impose upon, the Trustee for the benefit of the Owners of the Bonds any additional rights, remedies, powers, authority, security, liabilities or duties which may lawfully be granted, conferred or imposed and which are not contrary to or inconsistent with the Indenture as theretofore in effect; (c) to add to the covenants and agreements of, and limitations and restrictions upon, the Issuer in the Indenture other covenants, agreements, limitations and restrictions to be observed by the Issuer which are not contrary to or inconsistent with the Indenture as theretofore in effect; (d) to confirm, as further assurance, any pledge under, and the subjection to, any claim, lien or pledge created or to be created by, the Indenture, of the amounts payable to the Trustee for the account of BD724 (PF) 19 01/12/90 the Issuer under the Financing Agreement or of any other moneys, securities or funds; (e) to modify, alter, amend or supplement the Indenture in such manner as shall permit the qualification thereof under the Trust Indenture Act of 1939, as from time to time amended; (f) to modify, alter, amend or supplement the Indenture in any other respect which is not materially adverse to the Owners of the Bonds and which does not involve a change prohibited by the Indenture; (g) to modify, alter, amend or supplement the Indenture to make the Bonds eligible to be held by the Depository Trust Company of New York, New York; (h) to modify, alter, amend or supplement the Indenture to provide for a book entry system of registration for the Bonds; (i) to modify, alter, amend or supplement the Indenture in order to obtain a rating or maintain a current rating on the Bonds by nationally recognized rating agencies; and (j) so long as the Letter of Credit is in effect and the Letter of Credit Bank is not in default thereunder and an Event of Default relating to the Letter of Credit Bank is not continuing, to modify, alter, amend or supplement the Indenture for any purpose other than the purposes set forth in the following paragraph which require the approval in writing of the Owners of all Bonds then Outstanding. Supplemental Indentures With Consent of Owners. Except for any supplemental indenture executed as provided hereinabove, the Issuer and the Trustee at any time may enter into any supplemental indenture deemed necessary or desirable by the Issuer, but only with the written approval or consent of the Letter of Credit Bank and the Owners of not less than 60% in principal amount of Bonds then Outstanding. However, unless approved in writing by the Owners of all the Bonds then Outstanding, nothing herein contained shall permit, or be construed as permitting: (i) a change in the times, amounts or currency of payment of the principal of or interest on any Outstanding Bond; (ii) the creation of a claim or lien upon, or a pledge of, any portion of the Trust Estate ranking prior to or on a parity with the claim, lien or pledge created by the Indenture; (iii) a preference or priority of any Bond or Bonds over any other Bond or Bonds, except as otherwise provided in the Indenture or (iv) a reduction in the aggregate principal amount of Bonds the consent of the Owners of which is required for any such supplemental indenture or which is required, under the provisions of. the Indenture, for any amendment to the Financing Agreement. Amendment to Financing Agreement Without Consent of Owners. Without the consent of or notice to the Owners of the Bonds, but with the written consent of the Letter of Credit Bank and the Trustee if the rights, duties, liabilities or immunities of the Trustee would thereby be affected, the Issuer and the Company may enter into amendments to the BD724 (PF) 20 01/12/90 Financing Agreement: (i) as may be required by the provisions of the Financing Agreement and the Indenture, (ii) to conform the Financing Agreement to any supplemental indenture adopted in accordance with the Indenture, (iii) for the purpose of curing any formal defect, omission, inconsistency or ambiguity therein or (iv) in connection with any other change therein which is not materially adverse to the Owners of the Bonds. Amendment to Financing Agreement With Consent of Owners. Except for any amendment to the Financing Agreement entered into as hereinabove provided, the Issuer and the Company at any time may enter into any amendment to the Financing Agreement, but only with the written approval or consent of the Letter of Credit Bank and the Owners of not .less than 60% in principal amount of Bonds then Outstanding; provided, however, that nothing in the Indenture shall permit, or he construed as permitting, a change in the obligations of the Company to make Loan Payments unless such change is approved in writing by the Owners of all Bonds then Outstanding which are adversely affected thereby. No Personal Liability of Officials of the Issuer. No covenant or agreement contained in the Bonds or in the Indenture shall be deemed to be the covenant or agreement of any elected or appointed official, officer, agent, servant or employee of the Issuer in his individual capacity, and neither the members of the governing body of the Issuer nor any official executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance thereof. No Pecuniary Liability of the Issuer. No provision, covenant or agreement contained in the Indenture or any obligations therein imposed upon the Issuer, or the breach thereof, shall constitute or give rise to a pecuniary liability of the Issuer or a charge against its general credit or taxing powers. In making the agreements, provisions and covenants set forth in the Indenture, the Issuer has not obligated itself except with respect to the application of the receipts and revenues from the Financing Agreement specifically pledged for payment of the Bonds under the Indenture. Non-Business Days. Except as otherwise specifically provided in the Indenture or the Financing Agreement, if the last day of any period of payment, the date for making any payment or the last date for the performance of any act or the exercising of any right, as provided in the Indenture, shall be a day which is not a Business Day, the last day of such period shall be deemed to be, and such payment may be made or act performed or right exercised, on the next succeeding Business Day with the same force and effect as if done on the nominal date provided in the Indenture. Nothing in the Indenture shall be construed to extend the accrual of interest on any Bond beyond the date provided for elsewhere in the Indenture. • BD724 (PF) 21 01/12/90 THE FINANCING AGREEMENT The Financing Agreement, copies of which may be obtained from the Trustee, contains certain covenants and agreements of the Issuer and the Company, some of which are summarized below. The Loan Subject to the conditions and in accordance with the terms of the Financing Agreement, the Issuer shall make the Loan to the Company in the amount of, and the Company shall borrower from the Issuer, the proceeds of the sale of the Bonds to finance the refunding of the Series 1984 Bonds. (a) The Company covenants and agrees under the Financing Agreement to make Loan payments in the following amounts and on the following dates: (i) no later than each Interest Payment Date, a sum (in funds immediately available to the Trustee) which, together with other moneys available therefor in the Bond Fund, will equal the total amount of interest payable on the Bonds on such Interest Payment Date; and (ii) no later than the date on which principal of any Bond is payable, a sum (in funds immediately available to the Trustee) which, together with other moneys available therefor in the Bond Fund, will equal the sum of (A) the principal of the Outstanding Bonds which will become due and payable on such date, and (B) any accrued interest which will become due and payable on such date. (b) Each Loan Payment described above shall be sufficient to pay the total amount of interest, interest and principal or interest and principal payable on the Bonds on the date such Loan Payment is due which is not paid from other moneys available therefor in the Bond Fund; and, if the balance in the Bond Fund is insufficient to make any such required payment on any date on which it is due, the Company shall forthwith pay any such deficiency into the Bond Fund. (c) Any amount at any time held in the Bond Fund by the Trustee as described above shall (to the extent available therefor) be credited against the next succeeding Loan Payment and shall reduce the amount of the Loan Payment required to be made by the Company to the extent such amount is not required for the payment of the principal portions thereof which have theretofore matured but have not yet been presented for final payment. If at ii;iy time the amount held by the Trustee in the Bond Fund shall be sufficient to pay, at the times required, the principal of and interest on the Bonds then remaining unpaid, the Company shall not be obligated to make any further Loan Payments as described under subsections (a) and (b) above. BD724 (PF) 22 01/12/90 (d) If the Company should fail to make any of the Loan Payments required as described under subsections (a) and (b) above, the amount so in default shall continue as an obligation of the Company until it shall have been fully paid, and the Company agrees under the Financing Agreement to pay the same with interest thereon at the rate per annum on the Outstanding Bonds until paid. (e) The final Loan Payment under the Financing Agreement shall equal the actual principal amount of the Bonds remaining unpaid together with interest thereon then due and unpaid. (f) The Trustee has been directed in the Indenture to draw all funds available under the Letter of Credit to pay the principal of and interest on the Bonds when due and payable. The payment of such principal of or interest on the Bonds from amounts drawn under the Letter of Credit shall satisfy the Company's obligations under (a) above in respect of the corresponding Loan Payments. The Project Except as otherwise specifically permitted in the Financing Agreement, the Company shall not, during the term of the Financing Agreement, sell, assign, mortgage, encumber, convey, lease or otherwise dispose of any portion of, or any interest in any portion of, the Project, unless it has first received the written opinion of the Trustee that the particular action will not cause a violation of any of the covenants contained in the Financing Agreement. Compliance with Code The Company covenants in the Financing Agreement for the benefit of the Owners and the Issuer that any moneys on deposit in any fund or account maintained in respect of the Bonds, and any proceeds of the Series 1984 Bonds and the proceeds of the Bonds held by the Company, will not be used in a manner which would cause the Bonds to be "arbitrage bonds" as such term is used in Section 148 of the Code. The Company further covenants that it will not take or permit to be taken or fail to take any action which would subject the interest on the Bonds (excluding Bonds held by a "substantial user" of the Project or a "related person" as those terms are used in Section 147(a) of the Code) to inclusion in gross income for federal income tax purposes. Assignment of Financing Agreement The Financing Agreement may be assigned in whole or in part by the Company without the necessity of obtaining the consent of either the Issuer or the Trustee, subject, however, to each of the following conditions: (a) the assignee shall assume, in writing, the obligations of the Company under the Financing Agreement to the extent of the interest assigned; BD724 (PF) 23 01/12/90 (b) the Company shall, at least five days prior to any such assignment, provide the Issuer and the Trustee with an opinion of bond counsel that such assignment will not cause the interest on the Bonds (excluding Bonds held by a "substantial user" of the Project or a "related person" as those terms are used in Section 147(a) of the Code) to be included in gross income for federal income tax purposes; (c) the Company shall, at least five days prior to any such assignment, provide the Issuer and the Trustee with written notice thereof and, within five days after any such event, furnish or cause to be furnished to the Issuer and the Trustee a true and complete copy of such assignment and an executed counterpart of any assumption of obligations agreement; and (d) the Letter of Credit shall remain in ' effect in accordance with its terms. Company to Maintain Its Corporate Existence; Conditions Under Which Exceptions Permitted The Company agrees that during the term of the Financing Agreement it will maintain its existence as a limited partnership under the laws of the State, will not dissolve and will not consolidate with or merge into another partnership, corporation or other entity or permit one or more partnerships, corporations or other entities to consolidate with or merge into it; provided, however, that the Company may, without violating such covenant, consolidate with or merge into another partnership, corporation or other entity or permit one or more partnerships, corporations or other entities to consolidate with or merge into it and, in the case of a consolidation or merger of the Company into another corporation, partnership or other entity thereafter dissolve, provided the resulting, surviving or transferee partnership, corporation or other entity, as the case may be, irrevocably and unconditionally assumes in writing, by means of an instrument delivered to, the Issuer and the Trustee, all of the obligations of the Company under. the Financing Agreement. Transfer of the Project The Company may transfer the Project or any interest therein only in accordance with the following requirements: (a) The Company shall not transfer the Project or any interest therein to any person if, following such transfer, the Bonds would not be qualified small issue bonds within the meaning of Section 144(a) of the Code by reason of Section 144(a)(10) of the Code. (b) The Company shall not transfer the Project or any interest therein to any person unless the transferee covenants that it will not take any action that could cause the Bonds to not be qualified small issue bonds within the meaning of Section 144(a) of the Code by reason of Section 144(a)( 10) of. the Code. BD724 (PF) 24 01/12/90 (c) The Company shall not transfer the Project or any interest therein to any person unless the transferee covenants that it will operate, use and maintain the Project in a manner such that; (i) no part of the Project will be considered other than land or property of a character subject to the allowance for depreciation under the Code; (ii) the Project will be considered property for the financing of which bonds may be issued under the Act; (iii) no more than 25% of the net proceeds of the Series 1984 Bonds will be considered to have been used to provide a facility the primary purpose of which is one of the following: retail food and beverage services, automotive sales or service, or the provision of recreation or entertainment; (iv) no portion of the proceeds of the Series 1984 Bonds will be considered to have been used to provide the following: any private or commercial golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard, and ice skating) , racquet sports facility (including any handball or racquetball court), hot tub facility, suntan facility, racetrack, airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises; or (v) the interest on the Bonds will not be included in gross income for federal income tax purposes under any provision of law enacted after the date of the Financing Agreement. Notwithstanding the above, the Company may grant encumbrances against the Project to or for the benefit of mortgage lenders, and the restrictions set forth above shall not prevent or be applicable to any transfers of the Project which may occur by reason of such first lien encumbrances, the foreclosure thereof, or any deed, transfer, arrangement or proceeding in lieu of foreclosure. No first lien mortgage lender with respect to the Project, or any successor in interest or title to such mortgage lender, including the Deed of Trust Purchaser, whether before or after foreclosure, deed in lieu of foreclosure, or any transfer, arrangement or proceeding in lieu of foreclosure, shall be obligated as regards any provision of the Financing Agreement or any other documents related to the Bonds or the Loan or obligated to cause any provision or limitation or restriction of the Financing Agreement or of any other such documents to be performed or observed, unless such person becomes an assignee of the Company under the Financing Agreement. Events of Default Any one or more of the following shall constitute and "event of default" under the Financing Agreement: BD724 (PF) 25 01/12/90 (a) Failure of the Company to pay any Loan payment when due and, in any case, if there shall not be Available Moneys contained in the Bond Fund on any Interest Payment Date in an amount sufficient to pay the principal of and interest on the Bonds due on such date; (b) Failure by the Company to make any other payment due pursuant to the Financing Agreement or to observe and perform any covenant, condition or agreement under the Financing Agreement on its part to be performed (except the payment obligations referred to in subsection (a) above) and either (i) continuance of such failure for a period of 60 days after receipt by the Company of written notice from the Issuer or the Trustee, or to the Issuer, the Company and the Trustee by the holders of not less than 25% of the aggregate principal amounts of the Bonds then outstanding, specifying the nature of such failure and requesting that it be remedied or (ii) if by reason of its nature such failure cannot be remedied within said 60 days, the Company fails to proceed with reasonable diligence after receipt of such notice to cure such failure; (c) (i) The Company shall have applied for or consented to the appointment of a custodian, receiver, trustee or liquidator of all or a substantial part of its assets; (ii) such a custodian, receiver, trustee or liquidator shall have been appointed with or without consent of the Company; (iii) the Company shall generally not be paying its debts as they become due, has made a general assignment for the benefit of creditors, has filed a voluntary petition in any bankruptcy, insolvency or similar proceeding, or has filed a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage of any insolvency law; (iv) the Company shall have filed an answer admitting the material allegations of a petition in any bankruptcy, reorganization or insolvency proceeding, or taken any corporate action for the purpose of effecting the filing of such an answer; (v) a petition in bankruptcy shall have been field against the Company and shall not have been dismissed for a period of 30 consecutive days; (vi) an order for relief shall have been entered under any bankruptcy, insolvency or similar law against the Company; (vii) an order, judgment or decree shall have been entered, without the application, approval or consent of the person against whom it was entered, by any court of competent jurisdiction approving a petition seeking reorganization of the Company or appointing a receiver, trustee, custodian or liquidator of the Company or a substantial part of its assets, and such order, judgment or decree shall have continued unstayed and in effect for any period of 45 consecutive days; or (viii) the Company shall have suspended the transaction of its usual business; (d) Failure of the Issuer, the Company or the Trustee to comply with any of its obligations or representations under the tax agreement executed in connection with the issuance of the Bonds. Remedies of Default Whenever any "event of default" shall have occurred and be continuing, the Issuer or the Trustee may (or, where so required under the Indenture, shall) take any one or more of the following remedial steps: BD724 (PF) 26 01/12/90 (i) take any action permitted under the Indenture with respect to an Event of Default thereunder; and (ii) take whatever action at law or in equity may appear necessary or desirable (A) to collect the amounts then due and thereafter to become due, (B) to specifically enforce the performance or observance of any obligations, agreements or covenants of the Company under the Financing Agreement, the Indenture, the Bonds or any other document relating to the Bonds or the related financing or (C) to enforce any rights or, remedies available pursuant to the Financing Agreement, the Indenture, the Bonds, the Purchase Agreement or any other document relating to the Bonds or the related financing. Nonrecourse Provision No real property of the Company has been pledged to secure the obligations of the Company hereunder and the general partner of the Company shall have no obligation to satisfy any of the obligations under the Financing Agreement from any assets other than assets of the Company. No Pecuniary Liability of the Issuer No provision, covenant or agreement contained in the Financing Agreement or any obligations therein imposed upon the Issuer, or the breach thereof, shall constitute or give rise to a pecuniary liability of the Issuer or a charge against its general credit or taxing powers. In making the agreements, provisions and covenants set forth in the Financing Agreement, the Issuer has not obligated itself except with respect to the application of the revenues, income and all other property derived pursuant to the Financing Agreement, as therein provided. None of the covenants, stipulations, promises, agreements and obligations of the Issuer contained in the Financing Agreement shall be deemed to be covenants, stipulations, promises, agreements or obligations of any member, officer, agent or employee of the Issuer in his individual capacity, and no recourse shall be had for the payment of the principal of and interest on the Bonds or for any claim based thereon or any claim thereunder against any member, officer, agent or employee of the Issuer or any natural person executing any Bond. TAX EXEMPTION In the opinion of Davis, Graham & Stubbs, Bond Counsel, under existing law: (i) the interest on the Bonds is not includable in gross income for federal income tax purposes, except for any period during which a Bond is held by a person who is a "substantial user" of the Project or a "related person" within the meaning of Section 147(a) of the Internal Revenue Code of 1986, as amended (the "Code") , and except that the Company, the Issuer or any other user or owner, by taking action after the date of issuance of the Bonds that causes the $40,000,000 limitation set forth in Section 144(a)(10) of the Code to be exceeded, may cause interest BD724 (PF) 27 01/12/90 on the Bonds to be includable in gross income for federal income tax purposes (retroactive to the date of issuance of the Bonds) ; and (ii) interest on the Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals, trusts, estates and corporations, except with respect to corporations (as defined for federal alternative minimum tax purposes) interest on the Bonds is taken into account in determining adjusted net book income (adjusted current earnings for taxable years beginning after 1989) for the purpose of computing the alternative minimum tax Imposed on such corporations. The opinion described in the preceding paragraph assumes compliance by the Company, the Issuer and any other user or owner of the Project with certain requirements of the Code that must be met subsequent to the issuance of the Bonds. Failure of the Company, the Issuer and any other user or owner of the Project to comply with such requirements could cause interest on the Bonds to be includable in gross income for federal income tax purposes or could otherwise adversely affect such opinions, retroactive to the date of issuance of the Bonds. The Issuer and the Company have covenanted to comply with such requirements. However, the Financing Agreement provides that such covenants do not apply to any person who acquires an interest in the Project pursuant to a foreclosure or related proceeding. See "RISK FACTORS -- Taxability." However, the Financing Agreement provides that such covenants do not apply to any first lien mortgage lender who acquires an interest in The Project pursuant to a foreclosure or related proceeding. See "RISK FACTORS - Taxability. " Bond Counsel will express no opinion regarding other federal tax consequences arising with respect to the Bonds. Prospective purchasers of the Bonds should consult with their own tax advisors as to the federal income tax consequences of the sale or disposition of the Bonds. Prospective purchasers of the Bonds also should be aware that: (i) Section 265 of the Code denies a deduction for interest on indebtedness incurred or continued to purchase or carry the Bonds; (ii) with respect to insurance companies subject to the tax imposed by Section 831 of the Code, for taxable years beginning after December 31, 1986 Section 832(b)(5)(B)(i) of the Code reduces the deduction for loss reserves by 15% of the sum of certain items, including interest on the Bonds; (iii) for taxable years beginning before January 1, 1992, the interest on the Bonds earned by some corporations could be subject to the environmental tax imposed by Section 59A of the Code; (iv) the interest on the Bonds earned by certain foreign corporations doing business in the United States could be subject to the branch profits tax imposed Section 884 of the Code; (v) passive investment income, including interest on the Bonds, may be subject to federal income taxation under Section 1375 of the Code, for a Subchapter S corporation that has Subchapter C earnings and profits at the close of the taxable year if greater than 25% of the gross receipts of such Subchapter S corporation is passive investment \ income; and (vi) Section 86 of the Code requires recipients of certain Social Security and certain railroad retirement benefits to take into account, in determining gross income, receipt or accruals of the interest on the Bonds. BD724 (PF) 28 01/12/90 In the opinion of Bond Counsel, under existing law, interest on the Bonds is exempt from Utah individual income tax. Bond Counsel will express no opinion regarding other state or local tax consequences arising with respect to the Bonds, including whether interest on the Bonds is exempt from taxation under the laws of any jurisdiction other than the State of Utah. LEGAL MATTERS All legal matters incident to the authorization, issuance, sale and delivery of the Bonds and to the treatment of interest on the Bonds for federal income tax purposes are subject to the approval of Davis, Graham & Stubbs, as Bond Counsel. Certain legal matters will be passed upon for the Company by John R. Thackeray, Esq. , for the Issuer by Roger Cutler, Esq. , and for the Underwriter by Ballard, Spahr, Andrews & Ingersoll. The validity of the Letter of Credit will be passed upon by Chapman and Cutler, as United States counsel to the Letter of Credit Bank and by Nishi, Tanaka & Takahashi, as Japanese counsel to the Letter of Credit Bank. NO LITIGATION On the date of the original issuance and delivery of the Bonds, a certificate will be delivered by the Issuer to the effect that there is no action, suit, proceeding, inquiry or investi.gatioo at law or in equity or before or by any court, public board or body pending or, to the knowledge of the Issuer, threatened against or affecting the Issuer or, to its knowledge, any basis therefor, wherein an unfavorable decision, ruling or finding would adversely affect the transactions contemplated by this Official Statement or the validity of the Bonds, the Indenture or any agreement or instrument to which the Issuer is a party and which is used or contemplated for use in the transactions contemplated by this Official Statement. On the date of the original issuance and delivery of the Bonds, a certificate will be delivered by the Company to the effect that there is no action, suit, proceeding, inquiry or investigation at law or in equity or before or by any court, public board or body pending or, to the knowledge of the Company, threatened against or affecting the Company or, to its knowledge, any basis therefor, wherein an unfavorable decision, ruling or finding would adversely affect the transactions contemplated by this Official Statement or validity of the Bonds, the Financing Agreement or any agreement or instrument to which the Company is a party and which is used or contemplated for use in the transactions contemplated by this Official Statement, or which materially adversely affects the operation or financial condition of the Project or the Company. BD724 (PF) 29 01/12/90 RATING Standard & Poor's Corporation has rated the Bonds " ." The rating on the Bonds reflects only the views of Standard & Poor' s Corporation, and an explanation of the significance of such rating, if desired, should be obtained only from such rating agency. There is no assurance that the rating will remain in effect for any given period of time or that it will not be lowered or withdrawn entirely if, in the judgment of such rating agency, circumstances so warrant. Neither the Underwriter nor the Issuer has undertaken any responsibility either to bring to the attention of owners of Bonds any proposed change in any rating or to oppose any such proposed revision. Any such change in or withdrawal of any such rating could have an adverse effect on the market price of the Bonds. UNDERWRITING Boettcher & Company Inc. (the "Underwriter") has agreed to purchase the Bonds from the Issuer pursuant to a Bond Purchase Agreement dated January _, 1990, at a price equal to 100% of par plus accrued interest, if any. An underwriting fee equal to will be paid to the Underwriter by the Company upon delivery of the Bonds. The obligation of the Underwriter to accept delivery of the Bonds is subject to various conditions contained in the Bond Purchase Agreement. The Bond Purchase Agreement provides that the Underwriter will purchase all of the Bonds if any are purchased. The Underwriter intends to offer the Bonds to the public at the offering price set forth on the cover page of this Official Statement. After the initial public offering, the public offering price may be varied from time to time by the Underwriter. The Underwriter may offer and sell the Bonds to certain dealers (including dealers depositing Bonds into investment trusts), dealer banks, banks acting as agents and others at prices lower than the public offering price. MISCELLANEOUS The distribution of this Official Statement has been duly authorized by the Issuer. Any statement in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended as such, and not as representations of fact. BD724 (PF) 30 01/12/90 This Official Statement is not to be construed as an agreement or contract between the Issuer and the purchasers of any of the Bonds. SALT LAKE CITY, UTAH By Title: BD724 (PF) 31 01/12/90 APPENDIX "A" CERTAIN DEFINITIONS Certain terms used in the Indenture and the Financing Agreement are defined as follows: "Act" means the Utah Industrial Facilities and Development Act, Chapter 17, Title 11, Utah Code Annotated 1953, as amended. "Available Moneys" means (a) moneys which (i) are (A) proceeds of the Bonds, (B) proceeds of other bonds or obligations issued for the purpose of refunding the Bonds or (C) proceeds of a loan made to the Company for the purpose of paying the principal of and interest on the Bonds, (ii) are paid directly to the Trustee and do not come into the possession or control of the Company, the Issuer or their agents and (iii) have been on deposit with the Trustee for at least 123 days during and prior to which no petition shall have been filed by or against the Company or the Issuer under any bankruptcy act or any similar act which may hereafter be enacted, unless such petition shall have been dismissed and such dismissal shall be final and not subject to appeal (provided that such moneys need not have been on deposit for 123 days if the Company shall furnish to the Issuer, the Trustee and the appropriate rating agencies an unqualified opinion of nationally recognized bankruptcy counsel that payment of such moneys to the Owners would not constitute an avoidable preference under Section 547 of the Federal Bankruptcy Code in the event of the filing of a petition thereunder by or against the Company or the Issuer); (b) moneys (i) which are proceeds of any draw under the Letter of Credit and are paid directly to the Trustee and (ii) which do not come into the possession or control of the Company, the Issuer or their agents; (c) moneys furnished to the Trustee by the Company which have been on deposit with the Trustee for at least 123 days during and prior to which no petition shall have been filed by or against the Company or the Issuer under any bankruptcy act or under any similar act which may be hereafter enacted, unless such petition shall have been dismissed and such dismissal shall be final and not subject to appeal (provided that such moneys need not have been on deposit for 123 days if the Company shall furnish to the Issuer, the Trustee and the appropriate rating agencies an unqualified opinion of nationally recognized bankruptcy counsel that payment of such moneys to the Owners would not constitute an avoidable preference under Section 547 of the Federal Bankruptcy Code in the event of the filing of a petition thereunder by or against the Company or the Issuer); and (d) the proceeds from the investment and reinvestment pursuant to the Indenture of moneys described in clauses (a), (b) and (c) of this definition pursuant to the Indenture. "Business Day" means a day on which (i ) banks located in the city in which the Trustee's principal office is located and the city in which draws are to be presented to the Letter of Credit Bank pursuant to the Letter of Credit are not required or authorized by law to remain closed and (ii) the New York Stock Exchange is not closed. BD724 (PF) A-1 "Code" means the Internal Revenue Code of 1986, as amended. Each reference to a section of the Code shall be deemed to include the corresponding section of any predecessor to the Code and the United States Treasury Regulations proposed or adopted under the Code or under any predecessor to the Code, as the same may be in effect from time to time, to the extent the same are applicable to the Bonds, the Series 1984 Bonds or the Project, unless the context clearly requires otherwise. "Company" means (i) JTM Foothill Ltd. , a Utah limited partnership organized and existing under the laws of the State, its successors and their assigns, and (ii) any surviving or resulting entity as provided in the Financing Agreement. "Financing Agreement" means the Financing Agreement and any amendment to the Financing Agreement made in conformity with the Financing Agreement and the Indenture. "Government Obligations" means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America. "Indenture" means the Indenture of Trust dated as of January 1, 1990 between the Issuer and the Trustee, and any supplemental indenture made in conformity with the Indenture and the Financing Agreement. "Interest Payment Date" means June 1 and December 1 of each calendar year, commencing June 1, 1990. "Investment Securities" means (i) general obligations issued or guaranteed by the United States of America, or any agency of the United States of America, (ii) certificates of deposit of, banker's acceptances drawn on and accepted by, and interest bearing deposit accounts of, a bank or trust company which has a combined capital and surplus of not less than $100,000,000, (iii) repurchase agreements with any bank or trust company described in clause (ii) fully secured by obligations issued or guaranteed by the United States of America or any agency thereof, (iv) a daily money market fund invested exclusively in government short term obligations of the United States of America, (v) commercial paper rated Prime-1 or better by Moody' s, or A-1 or better by S&P, and maturing within six (6) months after the acquisition thereof, or (vi) shares in money market funds comprised solely of obligations described in clause (i) above. "Issuer" means Salt Lake City, Utah, a municipal corporation and political subdivision, duly organized and existing under the Constitution and laws of the State, and its successors and assigns permitted hereunder and under the Indenture. "Letter of Credit" means an irrevocable letter of credit meeting the requirements set forth in the Indenture and issued by the Letter of Credit Bank to the Trustee in accordance with the Financing Agreement. "Letter of Credit Agreement" means the Letter of Credit Agreement dated as of January 1, 1990 between the Company and the Letter of Credit BD724 (PF) A-2 Bank pursuant to which the Letter of Credit is issued by the Letter of Credit Bank and delivered to the Trustee, and any and all modifications, alterations, amendments and supplements thereto. "Letter of Credit Bank" means The Sumitomo Bank, Limited, acting through its Chicago Branch, so long as the Letter of Credit delivered to the Trustee on the date of the initial delivery of the Bonds shall be in effect, in its capacity as issuer of such Letter of Credit, its successors in such capacity and their assigns, but not including any assignee of rights of the Letter of Credit Bank under the Letter of Credit Agreement. "Loan" means the loan by the Issuer for the benefit of the Company from the proceeds of the Bonds (exclusive of any accrued interest or purchase premium paid by the initial purchasers of the Bonds) to provide financing for the refunding of the Series 1984 Bonds. "Notice by Mail" or "Notice" of any action or condition "by Mail" means a written notice meeting the requirements of the Indenture mailed by first-class mail to the Owners of specified registered Bonds, at the addresses shown in the registration books maintained pursuant to the Indenture. "Outstanding," when used in reference to the Bonds, means, as at any particular date, the aggregate of all Bonds authenticated and delivered under the Indenture except: (a) those cancelled at or prior to such date or delivered to or held by the Trustee at or prior to such date for cancellation; (b) those for which funds are held or have been held pursuant to the Indenture; (c) those deemed to be paid in accordance with the Indenture; and (d) those in lieu of or in exchange or substitution for which other Bonds shall have been authenticated and delivered pursuant to the Indenture, unless proof satisfactory to the Trustee and the Company is presented that such Bond is held by a bona fide holder in due course. "Owner" means the person in whose name any Bond is registered upon the registration books maintained pursuant to the Indenture. "Project" means the property acquired or otherwise financed with the proceeds of the Series 1984 Bonds. "Reserved Rights" means the rights of the Issuer to enforce, independently of the Trustee and the Owners of the Bonds, and whether or not the Trustee shall have exercised or shall have purported to exercise its rights and remedies with respect to such provisions but without BD724 (PF) A-3 limiting the obligation of the Trustee to do so, the following provisions of the Financing Agreement: (i) the Issuer's rights to indemnification under the Financing Agreement and any other indemnification rights of the Issuer contained in any other instrument or otherwise; (ii) the rights of the Issuer to receive payments to be made pursuant to the Financing Agreement for administration expenses of the Issuer; (iii) the rights of the Issuer to receive payments to be made to the Issuer pursuant to the Financing Agreement with respect to attorney's fees and expenses and other items; (iv) the rights of the Issuer, at its option, to enforce public purpose covenants undertaken by the Company pursuant to the Financing Agreement; (v) the rights of the Issuer with respect to certain covenants of the Company under the Financing Agreement regarding compliance with the Code and the Act and certain covenants under the Financing Agreement regarding the transfer of the Project; (vi) the rights of the Issuer with respect to certain covenants of the Company under the Financing Agreement regarding the Company' s maintenance of its corporate existence; (vii.) the rights of the Issuer with respect to further instruments and actions pursuant to the Financing Agreement; (viii) the rights of the Issuer to receive or obtain reports and other information or to inspect pursuant to the Financing Agreement; (ix) the rights of the Issuer with respect to the Company' s assignment of the Financing Agreement pursuant to the Financing Agreement; and (x) the rights of the Issuer with respect to events of default under the Financing Agreement. "Series 1984 Bonds" means the Salt Lake City, Utah Floating Rate Demand Industrial Development Bonds (JTN Foothill Village Project) Series 1984 issued on December 27, 1984 in the original aggregate principal amount of $7,410,000. "State" means the State of Utah. "Trustee" means Zions First National Bank, a national banking association, as trustee under the Indenture, its successors in trust and their assigns. BD724 (PF) A-4 APPENDIX "B" FORM OF LETTER OF CREDIT BD724 (PF) B-5 FBI vAKF BOARD Elaine B. Weis, Chair PALMER A. DEPAULIS, Mayor D ti Curtis E.Ackerlind,Jr. • J.Alan Blodgett • Don A.Mackey LOUIS E. MILLER Eddie P. Mayne • Joseph Rosenblatt Director of Airports Patrick A. Shea • Thomas K. Welch 0 o,e r A — . January 10 , 1990 Mr. Alan Hardman, Chairman and Salt Lake City Council City & County Building 451 South State , Room 304 Salt Lake City , Utah 84111 Dear Chairman Hardman and Council Members : Subject : Airport Revenue Bonds Series 1990 TEFRA hearing and adoption of a resolution authorizing the issuance of bonds within certain stated parameters and authorizing the publication of a notice of bonds to be issued in satisfaction of the requirements of Section 11-14-21 , Utah Code Annotated 1953 , as amended . Recommendation: The Salt Lake City Airport Authority recommends adoption of the above stated resolution authorizing the issuance of the Airport Revenue Bonds Series 1990 . Funding : The capital program associated with this financing includes construction projects totaling $25 ,930 ,000 . Funding for this program will consist of $705 ,00 from Airport Authority funds , $6 ,225 ,000 from AIP entitlement and discretionary grants and $19 ,000 ,000 from bond proceeds . Background and Discussion: On November 21 , 1989 the City Council adopted an inducement resolution associated with this capital program. On January 3 , 1990 the Salt Lake City Airport Authority Board adopted a resolution approving the financing and the construction of the various capital components contained in the notice of public hearing . The proposed issuance of Airport Revenue Bonds will finance the acquisition and construction of certain airport facilities , including the issuance costs of such bonds , interest on the bonds during construction, and funds for any reserves necessary to secure the bonds . Salt Lake City Airport Authority • AMF Box 22084. Salt Lake City. Utah 84122•(801)575-2400•Telefax: (801)575-2679 Mr . Alan Hardman , Chairman and Salt Lake City Council January 10 , 1990 Page 2 Such airport facilities will be constructed at the Salt Lake City International Airport , will be owned by the City , and will include the following : expansion of and improvements to Terminal Unit #2, including an enlargement of the baggage claim area , an expansion of the outbound baggage facilities on the lower level , construction of a passenger waiting facility , construction of a group meeting room and an enlargement of the restaurant facilities on the second level ; expansion and improvements to fuel farm including installation of two approximately 40 ,000 barrel aircraft fuel tanks ; acquisition and construction of a maintenance and servicing hangar and ramp for initial use by Sky West Airlines ; construction of a new cargo building for initial use by Emery Worldwide and an expansion of the common use aircraft cargo ramps ; completion of baggage tunnels and installation of conveyor systems between parking facilities and terminals ; acquisition of baggage handling equipment ; construction of ramp control tower; acquisition and construction of fuel storage pumping facilities ; acquisition and installation of moving pedestrian sidewalks ; rehabilitation of and improvements to taxiways ; relocation and construction of parking facilities ; improvements for erosion control and landscaping ; construction of and improvements to roads and roadways ; and any necessary or desirable facilities related to the foregoing . Respe ?fully submitted , iPfX ouis E . Miller Legislative Document : Resolution attached . Contact Person: Louis E . Miller 575-2408 Salt Lake City, Utah January 16, 1990 The Municipal Council of Salt Lake City, Salt Lake County, Utah (the "Municipal Council"), pursuant to due notice met in regular public session on January 16, 1990, at the hour of 6:00 o'clock P.M., at the regular meeting place of the Municipal Council in Room 315 in the City and County Building, 451 South State Street, in Salt Lake City, Utah. The meeting was duly called to order by Councilmember , who was conducting, with the following members being present, constituting a quorum of the Municipal Council: Alan G. Hardman Chair Nancy K. Pace Vice Chair Thomas M. Godfrey Councilmember L. Wayne Horrocks Councilmember Roselyn Kirk Councilmember Don C. Hale Councilmember Ronald J. Whitehead Councilmember Absent: None. There were also present: Palmer A. DePaulis Mayor Kathryn Marshall City Recorder. The City Recorder presented to the Municipal Council an affidavit evidencing the giving of not less than twenty-four (24) hours public notice of the agenda, date, time, and place of the January 16, 1990, regular meeting of the Municipal Council in compliance with the requirements of Section 52-4-6(2), Utah Code Annotated 1953, as amended, by (1) 1990 Parameters/TEFRA posting written notice of the meeting at the principal office of the Municipal Council, and (2) providing notice to at least one newspaper of general circulation within the geographic jurisdiction of Salt Lake City, Utah (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, Kathryn Marshall, 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 January 16, 1990, regular public meeting held by the Municipal Council of Salt Lake City, Salt Lake County, Utah, by: (a) causing a Notice of Public Meeting to be posted at the principal office of the Municipal Council at Room 325, City and County Building, 451 South State Street, in Salt Lake City, Utah, on January 12, 1990, 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 regular office hours 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 January 12, 1990, at least twenty-four (24) hours before the convening of the meeting, to The Salt Lake Tribune and the Deseret News, newspapers of general circulation within the geographic jurisdiction of Salt Lake City, Utah, and to each local media correspondent, newspaper, radio station, or television station which has requested notification of meetings of the Municipal Council. 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 16th day of January, 1990. Kathryn Marshall City Recorder Salt Lake City, [SEAL] Salt Lake County, Utah -3- EXHIBIT A [Attach Copy of Meeting Notice] A-1 Thereupon, after the conduct of other business not pertinent to the following, the Chairman announced that the time had come for the public hearing to consider the proposed issuance by the City of its "private activity" airport revenue bonds to finance the acquisition and construction of certain airport facilities to be acquired and constructed by • the City at the Salt Lake City International Airport. The City Recorder presented an affidavit evidencing the giving of not less than fourteen (14) days public notice of the holding of the public hearing in accordance with the provisions of Section 147(f) of the Internal Revenue Code of 1986 by publishing notice of such public hearing on January 2, 1990, in The Salt Lake Tribune and the Deseret News, newspapers of general circulation available to residents of the City. The affidavit was ordered recorded on the minutes of the meeting and is as follows: -4- • EXHIBIT B [Attach Affidavit of Publication of Notice of Public Hearing] B-1 The Chairman then announced that all those interested persons wishing to contend for or protest against, orally or in writing, the issuance by the City of not more than $35,000,000 airport facilities revenue bonds to finance the acquisition and construction of such airport facilities would be heard and that all such oral or written statements would be considered. All interested persons wishing to speak were then given full opportunity to be heard, the persons so speaking being as follows: NAME ADDRESS All interested persons wishing to file written statements were given the opportunity to do so, the persons so filing written statements being as follows: NAME ADDRESS After all persons desiring to speak or submit written statements had been permitted to do so, and after further discussion by the Municipal Council, the public hearing was concluded upon motion by Chairman Hardman, seconded by Councilmember and unanimously approved. -5- Thereupon, the following resolution was introduced in written form by Council- member and, pursuant to motion duly made by Councilmember and seconded by Councilmember , was adopted and approved by the following vote: Aye: Alan G. Hardman Nancy K. Pace Thomas M. Godfrey L. Wayne Horrocks Roselyn Kirk Don C. Hale Ronald J. Whitehead. Nay: None. Absent: None. The resolution was thereupon presented to and approved and signed by the Mayor in open meeting, was approved as to form and signed by the City Attorney, was signed by the Chair of the Municipal Council, and was attested and recorded by the City Recorder in the official records of said City. The resolution is as follows: -6- RESOLUTION NO. of 1990 A RESOLUTION authorizing the issuance and confirming the sale of not more than $35,000,000 aggregate principal amount of Airport Revenue Bonds, Series 1990, of Salt Lake City, Salt Lake County, Utah, fixing the maximum aggregate principal amount of the bonds, the maximum number of years over which the bonds may mature, the maximum interest rate which the bonds may bear and the maximum discount from par at which the bonds may be sold; authorizing publication of a notice of bonds to be issued; and related matters. *** *** *** WHEREAS, the Municipal Council of Salt Lake City, Salt Lake County, Utah (the "City") has held a public hearing with respect to the issuance of its Airport Revenue Bonds, Series 1990 (the "Bonds") for the purpose of financing certain improvements and extensions to the Salt Lake International Airport (the "Project), as more fully described in the Notice of Public Hearing heretofore attached as Exhibit B and in Section 1 of Resolution No. 123 of 1989, adopted by the Municipal Council of the City (the "Municipal Council") on November 21, 1989; and WHEREAS, the Municipal Council considers it desirable and necessary and for the benefit of the City to issue its Bonds for the purpose of financing the Project; and WHEREAS, the Municipal Council now desires to approve the Project and the issuance of the Bonds to finance the Project for the purpose of complying with the public approval requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended; and WHEREAS, the Municipal Council now desires to publish a Notice of Bonds to be Issued as provided under and in compliance with Section 11-14-21, Utah Code Annotated 1953, as amended; NOW, THEREFORE, Be It Resolved by the Municipal Council of Salt Lake City, Salt Lake County, Utah, as follows: Section 1. Public Hearing. The Municipal Council has on this date conducted a public hearing regarding the issuance of the Bonds to finance the Project. At the hearing, all persons who requested to be heard were allowed a full opportunity to express their views, both orally and in writing, concerning the Bonds and the Project. Section 2. Bonds to be Issued. The Municipal Council hereby finds and determines that it is desirable and necessary and for the benefit of the City for it to issue, for the purpose of financing the acquisition of improvements and extensions to the public utility comprising the City Airports, not more than $35,000,000 initial aggregate principal amount (exclusive of any accretion of interest) of its Airport Revenue Bonds, Series 1990, to mature in not more than 35 years from their date or dates, to be sold at a discount from par, expressed as a percentage of principal amount and excluding any original issue discount, of not to exceed two percent, and to bear interest at a rate or rates not to exceed nine percent per annum, all in accordance with and pursuant to the provisions of (1) Resolution No. 45 of 1989 Providing for the Issuance of Airport Revenue Bonds of the City, including the Bonds, adopted by the Municipal Council on April 11, 1989 (the "Master -7- Resolution"), a true and correct copy of which is attached hereto as Annex A, and (2) a Supplemental Resolution Authorizing the Issuance and Sale of the Bonds to be adopted by the Municipal Council at a future date pursuant to and in compliance with the Master Resolution (the "Supplemental Resolution"), a draft of which, in substantially final form, is attached hereto as Annex B, and the Municipal Council hereby declares its intention to issue the Bonds according to the provisions of this Section. The facilities to be financed with the proceeds of the Bonds include those described in the Notice of Public Hearing heretofore attached as Exhibit B and in Section 1 of Resolution No. 123 of 1989, adopted by the Municipal Council on November 21, 1989. Section 3. Authorization. The Municipal Council hereby authorizes and approves the Project and the issuance of the Bonds to finance the Project pursuant to the provisions of this resolution, the Master Resolution and the Supplemental Resolution; provided that the principal amount, interest rate or rates, maturity or maturities, and discount shall not exceed the maximums set forth in Section 1 hereof. Section 4. Compliance with Federal Income Tax Regulations. It is intended that the approval by the Municipal Council of the Project and the issuance of Bonds to finance the Project satisfies the public approval requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended. Section 5. Publication of Notice of Bonds to be Issued. In accordance with the provisions of Section 11-14-21, Utah Code Annotated 1953, as amended, The Salt Lake Tribune and the Deseret News, newspapers published within the boundaries of the City, are hereby designated as the "official newspapers" of the City for the publication of all notices required under the Utah Municipal Bond Act, Chapter 14 of Title 11, Utah Code Annotated 1953, as amended, and the City Recorder shall cause the following "Notice of Bonds to be Issued" to be published one time in The Salt Lake Tribune and the Deseret News, newspapers of general circulation in the City, and shall cause a copy of this resolution, together with the exhibits thereto, to be kept on file in her office for public examination during the regular business hours of the City Recorder for at least thirty days after the date of such publication. The "Notice of Bonds to be Issued" shall be in substantially the following form: NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 11-14-21, Utah Code Annotated 1953, as amended, that on January 16, 1990, the Municipal Council of Salt Lake City, Salt Lake County, Utah (the "City") adopted Resolution No. of 1990 (the "Resolution") in which it authorized and approved the issuance of its Airport Revenue Bonds, Series 1990 (the "Bonds") in the initial aggregate principal amount (exclusive of any accretion of interest) of not to exceed $35,000,000, to mature in not more than 35 years from their date or dates, to be sold at a discount from par, expressed as a percentage of principal amount and excluding any original issue discount, of not to exceed two percent, and to bear interest at a rate or rates not to exceed nine percent. The Bonds are to be issued and sold by the City pursuant to the Resolution, including as part of the Resolution (1) a copy of Resolution No. 45 of 1989 Providing for the Issuance of Airport Revenue Bonds, adopted by the Municipal Council on April 11, 1989 (the "Master Resolution"), and (2) a Supplemental Resolution Providing for the Issuance of the Bonds (the "Supplemental Resolution"). The Master Resolution and Supplemental Resolution were before the Municipal Council and a true and correct copy of the Master Resolution as it was adopted and a copy of the Supplemental Resolution in substantially final form were attached to the Resolution at the time of the adoption of the Resolution. The Supplemental Resolution will be adopted by the Municipal Council at a future date prior to the issuance of -8- the Bonds in substantially the form attached to the Resolution, with such changes thereto as shall be approved by the Municipal Council upon the adoption thereof, provided that the principal amount, interest rate or rates, maturity or maturities and discount will not exceed the maximums set forth above. The Bonds, pursuant to the Resolution, are to be issued for the purpose of financing certain improvements and extensions to the Salt Lake City International Airport, funding any necessary reserves, and paying all costs and expenses incident to the authorization and issuance of the Bonds, as set forth in the Master Resolution and the Supplemental Resolution. A copy of the Resolution (including a copy of the Master Resolution and a draft of the Supplemental Resolution) is on file in the office of the City Recorder, located in Room 325, City and County Building, 451 South State Street, in Salt Lake City, Utah, where it may be examined during regular business hours of the City Recorder from 8:00 o'clock A.M. to 5:00 o'clock P.M. Said Resolution (including the Master Resolution and a draft of the Supplemental Resolution) shall be so available for inspection for a period of at least thirty days from and after the date of the publication of this notice. NOTICE IS FURTHER GIVEN that pursuant to law for a period of thirty days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution (including the Master Resolution and the Supplemental Resolution) of the Municipal Council of Salt Lake City, Salt Lake County, Utah, or the Bonds or any provisions made for the security and payment of the Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause. DATED this 16th day of January, 1990. SALT LAKE CITY, SALT LAKE COUNTY, UTAH City Recorder Section 6. Effective Date. This Resolution shall be in full force and effect immediately upon its adoption. -9- PASSED and APPROVED by the Municipal Council and the Mayor of Salt Lake City, Salt Lake County, Utah, this 16th day of January, 1990. SALT LAKE CITY CORPORATION, a municipal corporation, Salt Lake County, State of Utah [SEAL] ATTEST: Alan G. Hardman Chair By Kathryn Marshall City Recorder APPROVED: By Palmer A. DePaulis Mayor APPROVED as to form: By Roger F. Cutler City Attorney -10- ANNEX A [Attach Master Resolution] -11- ANNEX B [Attach Draft of Supplemental Resolution] -12- Draft 01/12/90 SALT LAKE CITY, SALT LAKE COUNTY, UTAH Supplemental Resolution No. of 1990 Authorizing the Issuance and Sale of $ Airport Revenue Bonds, Series 1990 Adopted , 1990 TABLE OF CONTENTS ARTICLE I DEFINITIONS AND AUTHORITY Section Page 101. Definitions 1 102. Authority for Series 1990 Supplemental Resolution 4 ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF SERIES 1990 BONDS 201. Authorization of Bonds, Principal Amount, Designation and Series 4 202. Finding and Purpose; Series 1990 Project 4 203. Series 1990 Bonds 5 204. Registered Bonds; Denomination and Numbers 5 205. Paying Agent 5 206. Sinking Fund and Optional Redemption 6 207. Sale of Series 1990 Bonds 8 208. Execution of Series 1990 Bonds 8 209. Delivery of Series 1990 Bonds 9 210. Further Authority 9 ARTICLE III ESTABLISHMENT OF ACCOUNTS, PROVISIONS REGARDING THE SERIES 1990 DEBT SERVICE RESERVE REQUIREMENT AND APPLICATION OF SERIES 1990 BOND PROCEEDS 301. Interest During Construction 9 302. Series 1990 Project Account 9 303. Series 1990 Bond Service Subaccount 10 304. Series 1990 Debt Service Reserve Subaccount 10 305. Application of Proceeds of Series 1990 Bonds 10 -i- ARTICLE IV COMPLIANCE WITH REBATE AND OTHER REQUIREMENTS OF THE CODE 401. Authorization and Covenants 11 402. Creation of Series 1990 Rebate Fund 12 403. Additional Payments 12 404. Investments to be Legal 12 405. Opinion of Bond Counsel; Amendments 12 406. Additional Covenants; Agreements 12 407. Agreement to Pay Rebate Amount, Penalty and Interest 13 ARTICLE V FORM OF SERIES 1990 BONDS 501. Form of Series 1990 Bonds 13 ARTICLE VI SERIES 1990 SECURITY INSTRUMENT 601. Authorization 22 602. Payments to Series 1990 Bondholders; Subrogation 22 603. Limitation on Issuance of Additional Bonds 23 604. Limitation on Rights of Bondholders under Article IX of the Resolution 24 605. Access to Registration Books 24 606. Supplemental Resolution Transcript 24 607. Additional Conditions for Defeasance 24 608. Notice 24 609. Reports and Information 24 ARTICLE VII SERIES 1990 RESERVE INSTRUMENT 701. Authorization 25 702. Draws on Series 1990 Reserve Instrument 26 703. Remedies of Series 1990 Reserve Instrument Issuer 27 704. No Assignment of Series 1990 Debt Service Reserve Instrument or Revenues 27 705. Consent of FGIC for Other Reserve Instruments 27 -ii- ARTICLE VIII MISCELLANEOUS 801. System of Registration 27 802. Article and Section Headings 27 803. Partial Invalidity 27 804. Effective Date 27 -iii- SUPPLEMENTAL RESOLUTION NO. of 1990 Authorizing the Issuance and confirming the Sale of $ Airport Revenue Bonds, Series 1990, of Salt Lake City, Salt Lake County, Utah; and related matters. WHEREAS, the Municipal Council of Salt Lake City, Salt Lake County, Utah, adopted Resolution No. 45 of 1989 Providing for the Issuance of Airport Revenue Bonds on April 11, 1989; and WHEREAS, in order to obtain funds with which to acquire a project consisting of improvements and extensions to the City Airports, it is deemed necessary and advisable for the City to issue a series of Airport Revenue Bonds as hereinafter provided; NOW, THEREFORE, Be It Resolved by the Municipal Council of Salt Lake City, Salt Lake County, Utah, as follows: ARTICLE I DEFINITIONS AND AUTHORITY Section 101. Definitions. (a) Except as provided in Section 101(b), all defined terms contained in the Resolution shall have the same meanings when used in this Series 1990 Supplemental Resolution as set forth in the Resolution. (b) As used in this Series 1990 Supplemental Resolution, the following terms shall have the following meanings, unless the context otherwise requires: "Bond Counsel" means Chapman and Cutler, or other counsel of nationally recognized standing in matters pertaining to the tax-exempt status of interest on obligations issued by states and their political subdivisions, duly admitted to the practice of law before the highest court of any state of the United States. "Capitalized Interest Subaccount" means the Capitalized Interest Subaccount in the Series 1990 Project Account established in Section 302. "Closing Date" means the date of the delivery of the Series 1990 Bonds to the Underwriters. *["FGIC" means Financial Guaranty Insurance Company, and its successors and assigns.] "Issue Date" means , 1990, as designated in Section 203(a) hereof. *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Reserve Instrument, a Series 1990 Security Instrument or a funded Series 1990 Debt Service Reserve Subaccount. "Purchase Contract" means the Bond Purchase Agreement dated 1990, among the City and the Underwriters pursuant to which the Series 1990 Bonds are to be sold by the City. "Record Date" means the fifteenth day of the month next preceding any interest payment date. "Resolution" means Resolution No. 45 of 1989 Providing for the Issuance of Airport Revenue Bonds, adopted on April 11, 1989, as from time to time amended or supplemented by Supplemental Resolutions, including this Series 1990 Supplemental Resolution. "Series 1989 Bonds" means the City's Airport Revenue Bonds, Series 1989, issued on April 19, 1989, in the principal amount of $30,520,000 pursuant to Supplemental Resolution No. 46 of 1989. "Series 1990 Bond Service Subaccount" means the Series Subaccount in the Bond Service Account established in Section 303. "Series 1990 Bonds" means the City's Airport Revenue Bonds, Series 1990, authorized by this Series 1990 Supplemental Resolution. "Series 1990 Debt Service Reserve Requirement" means the amount of "Series 1990 Debt Service Reserve Subaccount" means the Series Subaccount in the Debt Service Reserve Account established in Section 305. "Series 1990 Project" means and includes the expansion of and improvements to Terminal Unit #2; completion of baggage tunnels between parking facilities and terminals; acquisition of baggage handling equipment; construction of a ramp control tower; expansion and improvements to fuel farm; acquisition and construction of fuel storage and pumping facilities; acquisition and installation of moving pedestrian sidewalks; acquisition and construction of maintenance hangars and ramps; expansion and improvements to cargo buildings and cargo ramps; rehabilitation of and improvements to taxiways; relocation and construction of parking facilities; improvements for erosion control and landscaping; construction of and improvements to roads and roadways; and any necessary or desirable facilities, equipment and improvements related to the foregoing. The Series 1990 Project is subject to change as provided in Section 202(c) hereof. "Series 1990 Project Account" means the Series 1990 Project Account in the Construction Fund established in Section 302. *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Reserve Instrument, a Series 1990 Security Instrument or a funded Series 1990 Debt Service Reserve Subaccount. -2- *["Series 1990 Reserve Instrument" means the Municipal Bond Debt Service Reserve Fund Policy issued by the Series 1990 Reserve Instrument Issuer pursuant to the Series 1990 Reserve Instrument Agreement.] *["Series 1990 Reserve Instrument Agreement" means the Reserve Fund Policy Agreement dated as of , 1990 between the City and FGIC.] *["Series 1990 Reserve Instrument Issuer" means FGIC, as issuer of the Series 1990 Reserve Instrument.] *["Series 1990 Reserve Instrument Repayment Obligations" means, as of any date of calculation and with respect to the Series 1990 Reserve Instrument Agreement, those outstanding amounts payable by the City under such Series 1990 Reserve Instrument Agreement necessary to repay the Series 1990 Reserve Instrument Issuer for payments previously or concurrently made by it pursuant to and designated as Reserve Instrument Repayment Obligations in Section 701(b).] *["Series 1990 Security Instrument" means the Municipal Bond New Issue Insurance Policy issued by the Series 1990 Security Instrument Issuer.] *["Series 1990 Security Instrument Issuer" means FGIC, as issuer of the Series 1990 Security Instrument.] "Series 1990 Supplemental Resolution" means this Supplemental Resolution No. of 1990 of the City adopted on , 1990, authorizing the issuance and sale of the Series 1990 Bonds. "Series 1990 Term Bonds" means Series 1990 Bonds maturing on either , , or "Series 1993 Bonds" means the City's Airport Revenue Refunding Bonds, Series 1993 authorized to be issued in the principal amount of $20,760,000 pursuant to Supplemental Resolution No. 122 of 1989. "Tax-Exemption Certificate" means (a) the Tax Exemption Certificate and Agreement, dated the Closing Date, between the City and the Trustee, (b) the Project Certificate of the City addressed to Bond Counsel and dated the Closing Date, and (c) any other agreement or certificate of the City executed and delivered in connection with the Series 1990 Bonds in order to assure the tax-exempt status of interest received on the Series 1990 Bonds. "Trustee" means West One Bank, Utah, and its successors and permitted assigns under the Resolution. *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Reserve Instrument, a Series 1990 Security Instrument or a funded Series 1990 Debt Service Reserve Subaccount. -3- "Underwriters" means Smith Barney, Harris Upham & Co. Incorporated, Shearson Lehman Hutton Inc., and A. G. Edwards & Sons, Inc. The terms "hereby", "hereof", "hereto", "herein", "hereunder", and any similar terms as used in this Series 1990 Supplemental Resolution, refer to this Series 1990 Supplemental Resolution. Section 102. Authority for Series 1990 Supplemental Resolution. This Series 1990 Supplemental Resolution is adopted pursuant to the provisions of the Act and the Resolution. ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF SERIES 1990 BONDS Section 201. Authorization of Bonds, Principal Amount, Designation and Series. In order to provide sufficient funds to acquire the Series 1990 Project and in accordance with and subject to the terms, conditions and limitations established in the Resolution, including this Series 1990 Supplemental Resolution, a Series of Airport Revenue Bonds is hereby authorized to be issued in the aggregate principal amount of $ Such Series of Bonds shall be designated "Airport Revenue Bonds, Series 1990." The acquisition and construction of the Series 1990 Project is hereby ratified, approved and confirmed. Section 202. Finding and Purpose; Series 1990 Project. (a) The City hereby finds, determines and declares that the requirements of Sections 2.02 and 2.03 of the Resolution will have been complied with upon the delivery of the Series 1990 Bonds. (b) The Series 1990 Bonds are hereby authorized to be issued for the purpose of paying a portion of the Cost of Construction of the Series 1990 Project, and paying all expenses properly incident thereto and to the issuance of the Series 1990 Bonds. Except for the Series 1989 Bonds previously issued, the Series 1990 Bonds authorized by this Series 1990 Supplemental Resolution, and the Series 1993 Bonds previously authorized to be issued in 1993, the City has no bonds, notes or other obligations issued or authorized to be issued or outstanding pursuant to the Resolution. Except for the Prior Lien Bonds, there are no other outstanding bonds, notes or other obligations payable from and secured by a pledge of Revenues of the City Airports. (c) As authorized by Section 8.01(b)(9) of the Resolution, the Series 1990 Project, as defined in Section 101, may be modified or amended without the consent of any other party upon submission to the Trustee of (1) a Supplemental Resolution designating the facilities to comprise the Series 1990 Project, (2) an opinion of Bond Counsel to the effect that such amendment will not adversely affect the tax-exempt status or validity of the Series 1990 Bonds, and (3) a Written Certificate of the City setting forth the Estimated Completion Date and the estimated Cost of Construction of the Series 1990 Project, as amended, and certifying that such amendment will not adversely affect the City's ability to comply with the provisions of the Resolution, particularly Section 6.12. -4- Section 203. Series 1990 Bonds. (a) The Series 1990 Bonds shall be dated as of , 1990, which is hereby designated as the Issue Date. The Series 1990 Bonds shall constitute Current Interest Bonds under the Resolution, shall bear interest from , 1990, payable , 1990, and semi-annually thereafter on and 1 in each year, at the rates shown below, and shall mature on the dates and in the principal amounts shown below: Amount Interest of the Year Maturing Rate $ % (b) Each Series 1990 Bond shall bear interest from the interest payment date next preceding the date of registration and authentication thereof unless it is registered as of an interest payment date, in which event it shall bear interest from the date thereof, or unless it is registered prior to the first interest payment date, in which event it shall bear interest from its date, or unless, as shown by the records of the Trustee, interest on the Series 1990 Bonds shall be in default, in which event it shall bear interest from the date to which interest has been paid in full. [The City may, at its option, issue a portion of the Series 1990 Bonds as Capital Appreciation Bonds. If issued, the interest on such Capital Appreciation Bonds shall not be paid on regularly scheduled interest payment dates but shall compound and accumulate and shall be paid at such time and in such manner as the City may specify. Appropriate provisions specifying details of such Capital Appreciation Bonds will be included in this Supplemental Resolution and the form of the Series 1990 Bonds.] Section 204. Registered Bonds; Denomination and Numbers. The Series 1990 Bonds shall be issued solely as fully registered Bonds, without coupons, in the denomination of $5,000 or any integral multiple thereof; provided that no individual Series 1990 Bond shall represent more than one maturity of Series 1990 Bonds. The Series 1990 Bonds shall be numbered from one (1) consecutively upwards with the prefix "R" preceding each number. Section 205. Paying Agent. West One Bank, Utah, of Salt Lake City, Utah, is hereby appointed the Paying Agent for the Series 1990 Bonds, pursuant and subject to Section 7.02 of the Resolution. Principal and Redemption Price on the Series 1990 Bonds when due shall be payable at the principal corporate trust office of the Trustee, or of its successor as Paying Agent. Payment of interest on the Series 1990 Bonds shall be made to the registered Holder thereof and shall be paid (1) by check or draft mailed to the person who is the registered Holder of record as of the close of business on the Record Date at his address as it appears on the registration books of the Trustee or at such other address as is furnished in writing by such registered Holder to the Trustee prior to the Record Date or (2) with respect to units of $1,000,000 or more of Bonds, by wire transfer to the registered -5- Holder thereof upon written notice by such Holder to the Trustee given not later than the Record Date prior to an interest payment date. Section 206. Sinking Fund and Optional Redemption. (a) The Series 1990 Term Bonds shall be subject to redemption in part by operation of Sinking Fund Installments as provided in the Resolution, upon notice as provided in Section 4.03 of the Resolution and Section 206(c) hereof at a Redemption Price equal to the Principal amount of each Series 1990 Term Bond or portion thereof to be redeemed, together with accrued interest to the date of redemption. The Series 1990 Term Bonds maturing on , , shall be subject to redemption in part by operation of Sinking Fund Installments on , and on each of each year thereafter to and including . The amounts and due dates of the Sinking Fund Installments for the Series 1990 Term Bonds maturing on , are set forth in the following table: of the Year Amount The Series 1990 Term Bonds maturing on , , shall be subject to redemption in part by operation of Sinking Fund Installments on , , and on 1 of each year thereafter to and including , . The amounts and due dates of the Sinking Fund Installments for the Series 1990 Term Bonds maturing in , , are set forth in the following table: of the Year Amount (b) The Series 1990 Bonds maturing on or after , are subject to optional redemption on or after , , at the election of the City, in whole on any date, or in part on any interest payment date, and if in part, in inverse order of maturities unless the Trustee is otherwise directed by the City, in which case, in such order of maturities as the City may direct (and within each maturity as selected by the Trustee), upon notice as provided in Section 4.03 of the Resolution and Section 206(c) hereof, and at the Redemption Price (expressed as a percentage of the principal amount of each Series 1990 Bond to be so redeemed) set forth in the following table, plus accrued interest to the redemption date: -6- Redemption Date Redemption (Both Dates Inclusive) Price , through , % through , % and thereafter % Before any notice of optional redemption of Series 1990 Bonds pursuant to this Section 2.06(b) shall be given, the City shall pay to, the Trustee for deposit into the Series 1990 Bond Service Subaccount moneys sufficient to pay the principal of, and premium, if any, and interest on, the Series 1990 Bonds to be redeemed on the redemption date. With respect to any notice of optional redemption of Series 1990 Bonds, unless upon the giving of such notice such Series 1990 Bonds shall be deemed to have been paid within the meaning of Article XI of the Resolution, such notice may state that such redemption shall be conditioned upon the receipt by the Trustee on or prior to the date fixed for such redemption of money sufficient to pay the Redemption Price of and interest on the Series 1990 Bonds to be redeemed, and that if such money shall not have been so received said notice shall be of no force and effect, and the City shall not be required to redeem such Series 1990 Bonds. In the event that such notice of redemption contains such a condition and such money is not so received, the redemption shall not be made and the Trustee shall within a reasonable time thereafter give notice, in the manner in which the notice of redemption was given, that such money was not so received and that such redemption was not made. (c) In addition to the notice described in Section 4.03 of the Resolution, further notice of any redemption of the Series 1990 Bonds shall be given by the Trustee as set out below, but no defect in such further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as described in Section 4.03 of the Resolution. (1) Each further notice of redemption given hereunder shall contain (i) the CUSIP numbers of all Series 1990 Bonds being redeemed; (ii) the date of issue of the Series 1990 Bonds as originally issued; (iii) the rate of interest borne by each Series 1990 Bond being redeemed; (iv) the maturity date of each Series 1990 Bond being redeemed; and (v) any other descriptive information needed to identify accurately the Series 1990 Bonds being redeemed. (2) Each further notice of redemption shall be sent at least 35 days before the redemption date by registered or certified mail or overnight delivery service to: (i) the following registered securities depositories (if at the time of such notice such depositaries are then in the business of holding substantial amounts of obligations of types comprising the Series 1990 Bonds): Depository Trust Company of New York, New York, Midwest Securities Trust Company of Chicago, Illinois, Pacific Securities Depository Trust of San Francisco, California [and Philadelphia Depository Trust Company of Philadelphia, Pennsylvania]; (ii) Moody's Municipal and Government and Standard and Poor's Called Bond Record; and (iii) any other such depositaries or national information services that disseminate notices of redemption of obligations such as the Series 1990 Bonds, designated by the City to receive such notice. -7- (3) Each such further notice shall be published one time in The Bond Buyer of New York, New York or, if such publication is impractical or unlikely to reach a substantial number of the Holders of the Series 1990 Bonds, in some other financial newspaper or journal which regularly carries notice of redemption of other obligations similar to the Series 1990 Bonds, such publication to be made at least 30 days prior to the date fixed for redemption. (4) Upon the payment of the redemption price of the Series 1990 Bonds being redeemed, each check or other transfer of funds issued for such purpose shall bear the CUSIP number identifying, by issue and maturity, the Series 1990 Bonds being redeemed with the proceeds of such check or other transfer. Section 207. Sale of Series 1990 Bonds. (a) The Series 1990 Bonds authorized to be issued herein are hereby sold to the Underwriters at an aggregate price of $ (being % of the principal amount of the Series 1990 Bonds[, it being recognized that the Series 1990 Bonds are being sold to the Underwriters for resale at an original issue discount of $ ]), plus accrued interest on the Series 1990 Bonds from , 1990, to the date of delivery of and payment for the Series 1990 Bonds, on the terms and conditions set forth in the Purchase Contract and upon the basis of the representations therein set forth. To evidence the acceptance of the Purchase Contract, the Mayor is hereby authorized to execute and deliver, and the City Recorder is authorized to seal, attest and countersign, the Purchase Contract. Such sale of the Series 1990 Bonds to the Underwriters and the execution and delivery of the Purchase Contract is hereby ratified, approved and confirmed. (b) The final Official Statement of the City in substantially the form presented at the meeting at which this Series 1990 Supplemental Resolution is adopted, with such changes, omissions, insertions and revisions as the Mayor shall deem advisable, is hereby authorized and the Mayor shall sign and deliver such final Official Statement to the Underwriters within seven Business Days after the execution of the Purchase Contract and in sufficient time to accompany any confirmation that requests payment from any customer of the Underwriters in sufficient quantities for distribution to prospective purchasers of the Series 1990 Bonds and other interested persons. Such approval of any such changes shall be conclusively established by the Mayor's signing of one or more copies of the final Official Statement. The prior distribution of the preliminary Official Statement is hereby in all respects authorized, ratified and approved. The City agrees that it will cooperate with the Underwriters to enable the Underwriters to comply with Rule 15c2-12 under the Securities Exchange Act of 1934 in connection with the offering and sale of the Series 1990 Bonds and the prior delivery of the Rule 15c2-12 certificate of the City to the Underwriters is hereby in all respects authorized, ratified and approved. (c) The City agrees that it will not issue any bonds, refunding bonds or other obligations payable from the Revenues of the City Airports within a period of at least 31 days after the date of delivery of the Series 1990 Bonds to the Underwriters. Section 208. Execution of Series 1990 Bonds. The Series 1990 Bonds shall be executed on behalf of the City by the Mayor by his manual or facsimile signature, and attested and countersigned by the City Recorder by her manual or facsimile signature, and the City's seal (or a facsimile thereof) shall be imprinted upon the Series 1990 Bonds. The Series 1990 Bonds shall then be delivered to the Trustee and manually authenticated by it. -8- Section 209. Delivery of Series 1990 Bonds. The Series 1990 Bonds shall be delivered to the Underwriters, upon compliance with the provisions of Section 3.02 of the Resolution, at such time and place as provided in, and subject to, the provisions of the Purchase Contract. Section 210. Further Authority. The Mayor, the Director of Airports, the Director of Finance, the City Recorder, the City Treasurer, or other officers of the City are, and each of them is, hereby authorized to do or perform all such acts and to execute all such certificates, documents and other instruments as may be necessary or advisable to provide for the issuance, sale and delivery of the Series 1990 Bonds and the consummation by the City of the transactions contemplated by the Purchase Contract and the Official Statement. ARTICLE III ESTABLISHMENT OF ACCOUNTS, PROVISIONS REGARDING THE SERIES 1990 DEBT SERVICE RESERVE REQUIREMENT AND APPLICATION OF SERIES 1990 BOND PROCEEDS Section 301. Interest During Construction. The amount to be deposited from the proceeds of the Series 1990 Bonds into the Capitalized Interest Subaccount in the Series 1990 Project Account to pay interest on the Series 1990 Bonds estimated to fall due during the period of construction of the Series 1990 Project, as set forth in the Written Certificate of the City estimating the Cost of Construction of the Series 1990 Project and the Estimated Completion Date thereof as required by Section 2.03(c)(1) of the Resolution, is Section 302. Series 1990 Project Account. (a) There is hereby established a Project Account in the Construction Fund designated as the "Series 1990 Project Account", moneys in which shall be used for the purpose and as authorized by Section 5.03 of the Resolution to pay the Cost of Construction of the Series 1990 Project. (b) There is hereby established in the Series 1990 Project Account a separate subaccount designated as the "Capitalized Interest Subaccount," moneys in which shall be used for the purpose and as authorized by Section 5.03 to pay interest on the Series 1990 Bonds during the period of construction of the Series 1990 Project in accordance with the requirements of the Tax Compliance Certificates and the Written Request of the City filed with the Trustee. Moneys on deposit in the Capitalized Interest Subaccount shall be invested, to the extent permitted by law, solely in direct noncallable obligations of the United States of America or noncallable obligations the timely payment of the principal of and interest on which is fully and unconditionally guaranteed by the United States of America. Net income on any investments in the Capitalized Interest Subaccount shall not be retained therein, but shall be promptly deposited into the Series 1990 Project Account. (c) Upon receipt by the Trustee of the Written Certificate of the Trustee evidencing substantial completion of construction of the Series 1990 Project pursuant to Section 5.03(i) of the Resolution, any moneys on deposit in the Capitalized Interest Subaccount not required to pay interest on the Series 1990 Bonds to the date of completion -9- shall be deposited into the Series 1990 Bond Service Account and applied to pay principal of and interest on the Series 1990 Bonds, subject to compliance with any applicable provisions of the Code and the Tax Compliance Certificates. Section 303. Series 1990 Bond Service Subaccount. Pursuant to Section 5.07(a) of the Resolution, there is hereby established a subaccount in the Bond Service Account in the Principal and Interest Fund designated as the "Series 1990 Bond Service Subaccount". Moneys shall be deposited into and paid from the Series 1990 Bond Service Subaccount in accordance with Section 5.07 of the Resolution to pay Debt Service on the Series 1990 Bonds. Section 304. Series 1990 Debt Service Reserve Subaccount. (a) Pursuant to Section 5.08(a) of the Resolution, there is hereby established a subaccount in the Debt Service Reserve Account designated as the "Series 1990 Debt Service Reserve Subaccount." Moneys shall be paid from the Series 1990 Debt Service Reserve Subaccount, if, when and as required by the Resolution, to remedy deficiencies in the Series 1990 Bond Service Subaccount in accordance with Section 5.08 of the Resolution. Moneys shall be deposited into the Series 1990 Debt Service Reserve Subaccount pursuant to Section 5.06(a)(1)(B) of the Resolution to pay the Series 1990 Reserve Instrument Repayment Obligations in accordance with Section 7.02(c). The City shall cause the Series 1990 Debt Service Reserve Requirement to be satisfied by delivery to the Trustee of the Series 1990 Reserve Instrument and maintaining the Reserve Instrument Coverage under the Series 1990 Reserve Instrument at least equal to the Series 1990 Debt Service Reserve Requirement. Trustee shall draw on the Series 1990 Reserve Instrument in accordance with the provisions of Section 702 of this Series 1990 Supplemental Resolution. (b) The City reserves the right to adopt proceedings and implement a schedule for accumulating Revenues in a fund sufficient to substitute such fund when fully funded into the Debt Service Reserve Account in lieu of the Series 1990 Reserve Instrument; provided, however, that if the City elects to proceed under this Section 304(b), any moneys accumulated in such fund shall be invested at a yield that does not exceed the yield on the Series 1990 Bonds unless the City delivers to the Trustee an opinion from Bond Counsel to the effect that investment of such moneys at a yield greater than the yield on the Series 1990 Bonds will not cause the Series 1990 Bonds to constitute "arbitrage bonds" within the meaning of Section 103 of the Code. Section 305. Application of Proceeds of Series 1990 Bonds. From the proceeds of the Series 1990 Bonds there shall be paid to the Trustee for deposit as follows: (1) Into the Series 1990 Bond Service Subaccount, the amount of interest accrued from , 1990, to the date of delivery of the Series 1990 Bonds; (2) Into the Series 1990 Project Account in the Construction Fund, the balance of the proceeds of the Series 1990 Bonds, provided that the amount of proceeds specified as capitalized interest on the Series 1990 Bonds in Section 301 shall be deposited in the Capitalized Interest Subaccount. -10- ARTICLE IV COMPLIANCE WITH REBATE AND OTHER REQUIREMENTS OF THE CODE Section 401. Authorization and Covenants. (a) The Mayor, Director of Airports, City Treasurer and City Recorder of the City are hereby authorized and directed to execute such Tax Exemption Certificates as may be required to establish the tax-exempt status of the Series 1990 Bonds, including those presented at the meeting at which this Series 1990 Supplemental Resolution is adopted. (b) The City covenants and certifies to and for the benefit of the purchasers of the Series 1990 Bonds that: (i) it will at all times comply with the provisions of any Tax Exemption Certificates; (ii) it will at all times comply with the rebate requirements contained in Section 148(f) of the Code (or successor provision) including, without limitation, establishing any necessary separate funds or accounts, entering into any necessary rebate calculation agreement to provide for the calculations of amounts required to be rebated to the United States, the keeping of records necessary to enable such calculations to be made and the timely payment to the United States of all amounts, including any applicable penalties and interest, required to be rebated; (iii) no use will be made of the proceeds of the issue and sale of the Series 1993 Bonds, or any funds or accounts of the City which may be deemed to be proceeds of the Series 1993 Bonds, pursuant to Section 148 of the Code (or successor provision) and applicable regulations (proposed or promulgated) which use, if it had been reasonably expected on the date of issuance of the Series 1993 Bonds, would have caused the Series 1993 Bonds to be classified as "arbitrage bonds" within the meaning of Section 148 of the Code (or successor provision); (iv) it will not take any action that would cause interest on the Series 1993 Bonds to be or to become ineligible for the exclusion from gross income of the owners of the Series 1993 Bonds as provided in Section 103 of the Code (or successor provision), nor will it omit to take or cause to be taken, in timely manner, any action, which omission would cause interest on the Series 1993 Bonds to be or to become ineligible for the exclusion from gross income of the owners of the Series 1993 Bonds as provided in Section 103 of the Code (or successor provision). (c) Notwithstanding anything in the Resolution to the contrary and in accordance with the City's covenants in this Article, all moneys and investments held in the Funds and Accounts established and administered under the Resolution shall be subject to the requirements of the Tax Exemption Certificates relating to the rebate of certain excess amounts computed in accordance with Section 148(f) of the Code (or successor provision) held therein to the United States at the times and in the amounts determined in accordance with the applicable provisions of the Tax Exemption Certificates to maintain the excludability of interest on the Series 1990 Bonds from gross income of the owners thereof for federal income tax purposes. -11- (d) Pursuant to the foregoing covenants, the City obligates itself to comply throughout the term of the issue of the Series 1990 Bonds with the requirements of Section 103 of the Code (or successor provision) and the regulations proposed or promulgated thereunder. Section 402. Creation of Series 1990 Rebate Fund. Pursuant to Section 2.02(a)(15) of the Resolution, there is hereby created by the City and ordered established with the Trustee an irrevocable trust fund, to be kept separate and apart from all other funds and accounts established by this Series 1990 Supplemental Resolution, the Resolution, or the Prior Lien Resolution and designated "Series 1990 Rebate Fund", which shall be administered in accordance with the Tax Exemption Certificates and the requirements of the Code. The Trustee shall make deposits to and disbursements from the Series 1990 Rebate Fund from time to time in accordance with the Tax Exemption Certificates and shall invest moneys on deposit in the Series 1990 Rebate Fund in accordance with the Tax Exemption Certificates. Section 403. Additional Payments. The City hereby agrees to deposit into the Series 1990 Rebate Fund or pay to the United States from legally available moneys of the City (whether or not such available moneys are on deposit in any fund or account related to the Series 1990 Bonds) any amount which is required to be deposited into the Series 1990 Rebate Fund or paid to the United States, but which is not available in a fund or account related to the Series 1990 Bonds for transfer to the Series 1990 Rebate Fund or payment to the United States. This obligation shall not be construed as constituting a debt or liability of the City within the meaning of any constitutional limitation upon the incurrence of indebtedness by the City. Section 404. Investments to Be Legal. All investments subject to rebate shall be made to the extent permitted by law and shall comply with the investment provisions contained in the Tax Exemption Certificates. Section 405. Opinion of Bond Counsel; Amendments. The provisions of this Article IV and the provisions of any Tax Exemption Certificates need not be observed and the provisions of this Article IV and any Tax Exemption Certificates may be amended or supplemented at any time by the City if the Trustee receives an opinion of Bond Counsel to the effect that the failure to comply with such provisions, and the terms of such amendment or supplement, will not adversely affect the exemption from federal income taxation of interest on the Series 1990 Bonds. Section 406. Additional Covenants; Agreements. The City hereby covenants to make, execute and enter into (and to take such actions, if any, as may be necessary to enable it to do so) any Supplemental Resolution or Tax Exemption Certificate necessary to comply with any changes in law or regulations in order to preserve the exemption from federal income taxation of interest on the Series 1990 Bonds to the extent that the City may lawfully do so. The City further covenants to (a) impose such limitations on the investment or use of moneys or investments related to the Series 1990 Bonds, (b) make such payments to the United States Treasury, (c) maintain such records, (d) perform such calculations and (e) perform such other acts as may be necessary to preserve the exemption from federal income taxation of interest on the Series 1990 Bonds and which the City may lawfully do. -12- Section 407. Agreement to Pay Rebate Amount, Penalty And Interest. Except as otherwise provided in Section 405 hereof, the City covenants to pay when due to the United States from legally available funds an amount equal to the payment due, following receipt of a notice from the Secretary of the Treasury of the United States of nonpayment or underpayment of any amount due to the United States pursuant to any provision of the Code requiring that a payment be made to the United States Treasury to preserve the tax- exempt status of interest on the Series 1990 Bonds. This obligation shall not be construed as constituting a debt or liability of the City within the meaning of any constitutional limitation upon the incurrence of indebtedness by the City. ARTICLE V FORM OF SERIES 1990 BONDS Section 501. Form of Series 1990 Bonds. Subject to the provisions of the Resolution, each Series 1990 Bond shall be in substantially the following form, with such insertions or variations as to any redemption or amortization provisions and such other insertions or omissions, endorsements and variations as may be required or permitted by the Resolution: [FORM OF BOND] REGISTERED REGISTERED No. R- $ SALT LAKE CITY, SALT LAKE COUNTY, UTAH AIRPORT REVENUE BOND, SERIES 1990 SEE REVERSE SIDE FOR INTEREST RATE MATURITY DATE DATED DATE CUSIP: ADDITIONAL PROVISIONS % , , 1990 Registered Owner: Principal Amount: DOLLARS KNOW ALL MEN BY THESE PRESENTS that Salt Lake City, Salt Lake County, Utah (the "City"), a duly organized and existing municipal corporation and political subdivision of the State of Utah, located in Salt Lake County, Utah, acknowledges itself indebted and for value received hereby promises to pay, in the manner and from the source hereinafter provided, to the registered owner identified above, or registered assigns, on the maturity date identified above, unless this Bond shall have been called for redemption and payment of the redemption price shall have been duly made or provided for, upon -13- presentation and surrender hereof, the principal amount identified above, and to pay, in the manner and from the source hereinafter provided, the registered owner hereof interest on the balance of said principal amount from time to time remaining unpaid from the interest payment date next preceding the date of registration and authentication of this Bond, unless this Bond is registered and authenticated as of an interest payment date, in which event this Bond shall bear interest from such interest payment date, or unless this Bond is registered and authenticated prior to the first interest payment date, in which event this Bond shall bear interest from the dated date specified above, or unless, as shown by the records of the hereinafter referred to Trustee, interest on the hereinafter referred to Series 1990 Bonds shall be in default, in which event this Bond shall bear interest from the date to which interest has been paid in full, at the rate per annum specified above (calculated on the basis of a year of 360 days comprised of twelve 30-day months), payable in each year on and , beginning , , until payment in full of such principal amount, except as the provisions hereinafter set forth with respect to redemption prior to maturity may become applicable hereto. This Bond, as to principal and redemption price when due, will be payable at the principal corporate trust office of West One Bank, Utah, of Salt Lake City, Utah, a Paying Agent of the City, or its successor as such Paying Agent, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts; provided, however, that payment of the interest hereon shall be made to the registered owner hereof and shall be paid (1) by check or draft mailed to the person who is the registered owner of record as of the close of business on the fifteenth day of the month next preceding each interest payment date (the "Record Date") at his address as it appears on the registration books of the Trustee or at such other address as is furnished in writing by such registered owner to the Trustee prior to the Record Date or (2) with respect to units of $1,000,000 or more of Bonds, by wire transfer to the registered owner thereof upon written notice by such owner to the Trustee given not later than the Record Date prior to an interest payment date. THE CITY IS OBLIGATED TO PAY PRINCIPAL OF, REDEMPTION PRICE OF, AND INTEREST ON THIS BOND SOLELY FROM THE REVENUES AND OTHER FUNDS OF THE CITY PLEDGED THEREFOR REMAINING AFTER PAYMENT OF ALL OBLIGATIONS DUE PURSUANT TO THE PRIOR LIEN RESOLUTION (AS SUCH TERM IS DEFINED IN THE BOND RESOLUTION HEREINAFTER REFERRED TO) WITH RESPECT TO CERTAIN OUTSTANDING PRIOR LIEN BONDS (AS SUCH TERM IS DEFINED IN THE BOND RESOLUTION) UNDER THE TERMS OF THE BOND RESOLUTION. THIS BOND IS NOT A DEBT OF THE CITY WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY LIMITATION OF INDEBTEDNESS. PURSUANT TO THE BOND RESOLUTION, SUFFICIENT REVENUES (AS SUCH TERM IS DEFINED IN THE BOND RESOLUTION) HAVE BEEN PLEDGED AND WILL BE SET ASIDE INTO SPECIAL FUNDS BY THE CITY TO PROVIDE FOR THE PROMPT PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THIS BOND AND ALL BONDS OF THE SERIES OF WHICH IT IS A PART. This Bond and the issue of Bonds of which it is a part are issued in conformity with and after full compliance with the Constitution of the State of Utah and pursuant to the provisions of the Utah Municipal Bond Act, Chapter 14 of Title 11, Utah Code Annotated 1953, as amended (the "Act"), and all other laws applicable thereto. THE TERMS AND PROVISIONS OF THIS BOND ARE CONTINUED ON THE REVERSE SIDE HEREOF AND SUCH CONTINUED TERMS AND PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS -14- PLACE. [The language contained in this paragraph may be deleted for Bonds issued in temporary form and the language to be contained on the reverse side of definitive Bonds may be inserted here.] It is hereby certified and recited that all conditions, acts and things required by the Constitution or statutes of the State of Utah or by the Act or the Bond Resolution to exist, to have happened or to have been performed precedent to or in the issuance of this Bond exist, have happened and have been performed and that the issue of Bonds, together with all other indebtedness of the City, is within every debt and other limit prescribed by said Constitution and statutes. This Bond shall not be valid until the Certificate of Authentication hereon shall have been signed by the Trustee. [Financial Guaranty Insurance Company ("Financial Guaranty") has issued its Municipal Bond New Issue Insurance Policy (the "Policy") with respect to the principal of and interest on the Bonds which is due for payment. Certain provisions of the Policy are set forth on the reverse hereof. BY ACCEPTANCE OF THIS BOND, THE OWNER HEREOF AGREES TO THE ASSIGNMENT TO FINANCIAL GUARANTY OF CERTAIN RIGHTS OF SUCH OWNER TO ENFORCE THE PROVISIONS OF THE BOND RESOLUTION OR TO INSTITUTE ACTION TO ENFORCE THE PLEDGE OR COVENANTS MADE THEREIN OR TO TAKE ACTIONS WITH RESPECT TO AN EVENT OF DEFAULT UNDER THE BOND RESOLUTION OR TO INSTITUTE, APPEAR IN, OR DEFEND ANY SUIT OR OTHER PROCEEDING WITH RESPECT THERETO, WHICH RIGHTS ARE EXERCISABLE BY FINANCIAL GUARANTY AS PROVIDED IN THE BOND RESOLUTION.] IN WITNESS WHEREOF, SALT LAKE CITY, SALT LAKE COUNTY, UTAH, has caused this Bond to be signed in its name and on its behalf by the facsimile signature of its Mayor, and a facsimile of its corporate seal to be imprinted hereon, and attested and countersigned by the facsimile signature of its City Recorder, all as of the dated date specified above. SALT LAKE CITY, SALT LAKE COUNTY, UTAH By [Manual or Facsimile Signature] Mayor ATTEST AND COUNTERSIGNED: By [Manual or Facsimile Signature] City Recorder [FACSIMILE SEAL] -15- [FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION] This Bond is one of the Bonds described in the within mentioned Bond Resolution and is one of the Airport Revenue Bonds, Series 1990, of Salt Lake City, Salt Lake County, Utah. Date of registration and authentication: WEST ONE BANK, UTAH, as Trustee By Authorized Officer [FORM OF REVERSE OF BOND] This Bond is a special obligation of the City and is one of the Airport Revenue Bonds of the City (the "Bonds") issued under and by virtue of the Act and under and pursuant to Resolution No. 45 of 1989 Providing for the Issuance of Airport Revenue Bonds, adopted on April 11, 1989 (the "Resolution"), as from time to time amended or supplemented by further resolutions of the City, including Supplemental Resolution No. of 1990 adopted on , 1990 authorizing the issuance and sale of this Series of Bonds (the "Series 1990 Supplemental Resolution"), (such Resolution No. 45 of 1989, Supplemental Resolution No. of 1990 and any and all such further resolutions being herein collectively called the "Bond Resolution"), for the purpose of paying a portion of the cost of acquiring a Project consisting of improvements and extensions to the City Airports of the City, together with all necessary pertinent facilities, and of paying all expenses incident thereto and to the issuance of the Series 1990 Bonds. As provided in the Bond Resolution, Bonds may be issued from time to time in one or more series in various principal amounts, may mature at different times, may bear interest at different rates, and may otherwise vary as provided in the Bond Resolution, and the aggregate principal amount of Bonds which may be issued is not limited. Pursuant to Supplemental Resolution No. 46 of 1989, the City has previously issued its $30,520,000 Airport Revenue Bonds, Series 1989 to finance certain airport facilities and pursuant to Supplemental Resolution No. 122 of 1989, the City has authorized the issuance in 1993 of its $20,760,000 Airport Revenue Refunding Bonds, Series 1993 to refund certain Prior Lien Bonds outstanding under the Prior Lien Resolution. All Bonds issued and to be issued under the Bond Resolution are and will be equally and ratably secured by the pledge and covenants made therein, except as otherwise expressly provided or permitted in or pursuant to the Bond Resolution. This Bond is one of a Series of Bonds designated as "Airport Revenue Bonds, Series 1990" (herein called the "Series 1990 Bonds"), limited to the aggregate principal amount of $ , dated as of the dated date identified above, and duly issued under and by virtue of the Act and under and pursuant to the Bond Resolution. Copies of the Bond Resolution are on file at the office of the City Recorder in Salt Lake City, Utah, and at the principal corporate trust office of West One Bank, Utah, in Salt Lake City, Utah, -16- as trustee under the Bond Resolution (said trustee and any successors thereto under the Bond Resolution being herein called the "Trustee"), and reference to the Bond Resolution and the Act is made for a description of the pledge and covenants securing the Series 1990 Bonds, the nature, manner and extent of enforcement of such pledge and covenants, the terms and conditions upon which the Series 1990 Bonds are issued and additional Bonds may be issued thereunder, and a statement of the rights, duties, immunities and obligations of the City and of the Trustee. Such pledge and other obligations of the City under the Bond Resolution may be discharged at or prior to the maturity or redemption of the Series 1990 Bonds upon the making of provision for the payment thereof on the terms and conditions set forth in the Bond Resolution. To the extent and in the respects permitted by the Resolution, the Bond Resolution may be modified or amended by action on behalf of the City taken in the manner and subject to the conditions and exceptions prescribed in the Bond Resolution. The holder or owner of this Bond shall have no right to enforce the provisions of the Bond Resolution or to institute action to enforce the pledge or covenants made therein or to take any action with respect to an Event of Default under the Bond Resolution or to institute, appear in, or defend any suit or other proceeding with respect thereto, except as provided in the Bond Resolution. This Bond is transferable, as provided in the Bond Resolution, only upon the books of the City kept for that purpose at the principal corporate trust office of the Trustee, by the registered owner hereof in person or by his attorney duly authorized in writing, upon surrender hereof together with a written instrument of transfer satisfactory to the Trustee, duly executed by the registered owner or such duly authorized attorney, and thereupon the City shall issue in the name of the transferee a new registered Bond or Bonds of the same aggregate principal amount and series, designation, maturity and interest rate as the surrendered Bond, all as provided in the Bond Resolution and upon the payment of the charges therein prescribed. The City and the Trustee may treat and consider the person in whose name this Bond is registered as the holder and absolute owner hereof for the purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest due hereon and for all other purposes whatsoever. The Series 1990 Bonds are issuable solely in the form of fully registered Bonds, without coupons, in the denomination of $5,000, or any integral multiple of $5,000. The Series 1990 Bonds maturing on , , are subject to redemption at a price equal to the principal amount thereof, together with interest thereon accrued to the date of redemption, on , , and on each thereafter to and including , , by operation of Sinking Fund Installments as provided in the Bond Resolution. The Bond Resolution requires funds to be provided on , and on each thereafter to and including , , sufficient to redeem the following principal amounts of such Series 1990 Bonds: of the Year Amount -17- The Series 1990 Term Bonds maturing on , , are subject to redemption at a price equal to the principal amount thereof, together with interest thereon accrued to the date of redemption, on , , and on each thereafter to and including , , by operation of Sinking Fund Installments as provided in the Bond Resolution. The Bond Resolution requires funds to be provided on , , and on each thereafter to and including , sufficient to redeem the following principal amounts of such Series 1990 Bonds: of the Year Amount The Series 1990 Bonds maturing on or after , , are subject to optional redemption at the election of the City on or after , , in whole on any date, or in part on any interest payment date, and if in part, in [ order of maturities], upon notice given as hereinafter set forth, at a redemption price equal to the principal amount of each Series 1990 Bond to be redeemed, plus redemption premiums (expressed as a percentage of such principal amount) set forth in the following table plus accrued interest to the redemption date: Redemption Date Redemption (Both Dates Inclusive) Price , through , 96 through , 96 and thereafter 96 If less than all of the Series 1990 Bonds are to be redeemed, the particular Series 1990 Bonds to be redeemed shall be selected as provided in the Bond Resolution. Notice of redemption shall be given in accordance with the provisions of the Bond Resolution by first class mail not less than 30 nor more than 45 days prior to the redemption date, to the registered owner of each Series 1990 Bond being redeemed, at his address as it appears on the bond registration books of the Trustee or at such address as he may have filed with the Trustee for that purpose. If notice of redemption shall have been given as aforesaid, the Bonds or portions thereof specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if on the redemption date moneys for the payment of the redemption price of all the Bonds to be redeemed, together with interest to the redemption date, shall be available for such payment on said date, then from and after the redemption date interest on such Bonds shall cease to accrue and become payable. -18- Less than all of a Bond in a denomination in excess of $5,000 may be so redeemed, and in such case, upon the surrender of such Bond, there shall be issued to the registered owner thereof, without charge therefor, for the unredeemed balance of the principal amount of such Bond, at the option of such owner, registered Bonds of any of the authorized denominations, all as more fully set forth in the Bond Resolution. Except as otherwise provided herein and unless the context clearly indicates otherwise, words and phrases used herein shall have the same meanings as such words and phrases in the Bond Resolution. [[FORM OF STATEMENT OF INSURANCE]* STATEMENT OF INSURANCE Financial Guaranty Insurance Company ("Financial Guaranty") has issued a policy containing the following provisions with respect to the Airport Revenue Bonds, Series 1990 (the "Bonds") of Salt Lake City, Salt Lake County, Utah (the "City"), such policy being on file at the principal office of the Trustee named in the Bond, as paying agent (the "Paying Agent"): Financial Guaranty hereby unconditionally and irrevocably agrees to pay for disbursement to the Bondholders that portion of the principal of and interest on the Bonds which is then due for payment and which the City shall have failed to provide. Due for payment means, with respect to the principal, the stated maturity date or mandatory sinking fund redemption date thereof, but not any earlier date on which the payment of principal of the Bonds is due by reason of acceleration, and with respect to interest, the stated date for payment of such interest. Upon receipt of telephonic or telegraphic notice, subsequently confirmed in writing, or written notice by registered or certified mail, from a Bondholder or the Paying Agent to Financial Guaranty that the required payment of principal or interest has not been made by the City to the Paying Agent, Financial Guaranty on the due date of such payment or within one business day after receipt of notice of such nonpayment, whichever is later, will make a deposit of funds, in an account with Citibank, N.A., or its successor as its agent (the "Fiscal Agent"), sufficient to make the portion of such payment not paid by the City. Upon presentation to the Fiscal Agent of evidence satisfactory to it of the Bondholder's rights to receive such payment and any appropriate instruments of assignment required to vest all of such Bondholder's rights to such payment in Financial Guaranty, the Fiscal Agent will disburse such amount to the Bondholder. *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Security Instrument. -19- As used herein the term 'Bondholder" means the person other than the City who at the time of nonpayment of a Bond is entitled under the terms of such Bond to payment thereof. The policy is non-cancellable for any reason. FINANCIAL GUARANTY INSURANCE COMPANY] -20- [FORM OF ASSIGNMENT] The following abbreviations, when used in the inscription on the face the within Bond shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM- as tenants in UNIF GIFT MIN ACT- Custodian common (Cust) (Minor) TEN ENT- as tenants by the entireties under Uniform Gifts to Minors JT TEN- as joint tenants with right of sur- Act vivorship and not as (State) tenants in common Additional abbreviations may also be used though not in the list above. For value received hereby sells, assigns and transfers unto INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE I I (Please Print or Typewrite Name and Address of Assignee) the within Bond of SALT LAKE CITY, SALT LAKE COUNTY, UTAH, and hereby irrevocably constitutes and appoints Attorney to register the transfer of said Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature: Signature Guaranteed: NOTICE: Signature(s) must be guaranteed by a member firm of The New York Stock Exchange or a commercial bank or trust company. NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever. -21- *[ARTICLE VI SERIES 1990 SECURITY INSTRUMENT Section 601. Authorization. The use of the Series 1990 Security Instrument to secure the Series 1990 Bonds is hereby authorized. So long as the Series 1990 Security Instrument shall be in effect and there is no default in the payment obligation on the Series 1990 Security Instrument, the City and the Trustee shall comply with the provisions of the Series 1990 Security Instrument and the provisions of this Article VI. Subsequent to the issuance of the Series 1990 Security Instrument, the City has no obligation to pay any amount which would constitute Security Instrument Costs (provided that this sentence shall not be construed as limiting the City's obligation to pay amounts due on Series 1990 Bonds to which the Series 1990 Security Instrument Issuer has been subrogated). Any commitment fee, premium or Rating Agency fees payable in connection with the issuance of the Series 1990 Security Instrument prior to or upon issuance of the Series 1990 Security Instrument constitute Security Instrument Costs. Section 602. Payments to Series 1990 Bondholders; Subrogation. (a) If, on the third business day preceding any interest payment date for the Series 1990 Bonds there is not on deposit with the Trustee sufficient moneys available to pay all Principal Installments of and interest on the Series 1990 Bonds due on such date, the Trustee shall immediately notify the Series 1990 Security Instrument Issuer and its designated agent (the "Fiscal Agent") of the amount of such deficiency. If, on said interest payment date, the City has not provided the amount of such deficiency, the Trustee shall simultaneously make available to the Series 1990 Security Instrument Issuer and to the Fiscal Agent the registration books for the Series 1990 Bonds maintained by the Trustee. In addition: (i) The Trustee shall provide the Series 1990 Security Instrument Issuer with a list of the Series 1990 Bondholders entitled to receive Principal Installments or interest payments from the Series 1990 Security Instrument Issuer under the terms of the Series 1990 Security Instrument and shall make arrangements with the Series 1990 Security Instrument Issuer and its Fiscal Agent (1) to mail checks or drafts to Series 1990 Bondholders entitled to receive full or partial interest payments from the Series 1990 Security Instrument Issuer and (2) to pay Principal Installments of the Series 1990 Bonds surrendered to the Fiscal Agent by the Series 1990 Bondholders entitled to receive full or partial Principal Installments payments from the Series 1990 Security Instrument Issuer; and (ii) The Trustee shall, at the time it makes the registration books available to the Series 1990 Security Instrument Issuer pursuant to (a) above, notify Series 1990 Bondholders entitled to receive the payment of Principal Installments of or interest on the Series 1990 Bonds from the Series 1990 Security Instrument Issuer (1) as to the fact of such entitlement, (2) that the Series 1990 Security Instrument Issuer will remit to them all or part of the interest payments coming due, (3) that, except as provided *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Security Instrument. -22- in paragraph (b) below, in the event that any Series 1990 Bondholder is entitled to receive full payment of the principal amount of a Series 1990 Bond from the Series 1990 Security Instrument Issuer, such Series 1990 Bondholder must tender his Series 1990 Bond with the instrument of transfer in the form provided on the Series 1990 Bond executed in the name of the Series 1990 Security Instrument Issuer, and (4) that, except as provided in paragraph (b) below, in the event that such Series 1990 Bondholder is entitled to receive partial payment of the principal amount of a Series 1990 Bond from the Series 1990 Security Instrument Issuer, such Series 1990 Bondholder must tender his Series 1990 Bond for payment first to the Trustee, which shall note on such Series 1990 Bond the portion of principal paid by the Trustee, and then, with the form of transfer executed in the name of the Series 1990 Security Instrument Issuer, to the Fiscal Agent, which will then pay the unpaid portion of principal to the Series 1990 Bondholder. (b) In the event that the Trustee has notice that any payment of principal of or interest on a Series 1990 Bond has been recovered from a Series 1990 Bondholder pursuant to the United States Bankruptcy Code by a trustee in bankruptcy in accordance with the final, nonappealable order of a court having competent jurisdiction, the Trustee shall, at the time it provides notice to the Series 1990 Security Instrument Issuer, notify all Series 1990 Bondholders that in the event that any Series 1990 Bondholder's payment is so recovered, such Series 1990 Bondholder will be entitled to payment from the Series 1990 Security Instrument Issuer to the extent of such recovery, and the Trustee shall furnish to the Series 1990 Security Instrument Issuer its records evidencing the payments of principal of and interest on the Series 1990 Bonds which have been made by the Trustee and subsequently recovered from the Series 1990 Bondholders, and the dates on which such payments were made. (c) The Series 1990 Security Instrument Issuer shall, to the extent it makes payment of principal of or interest on the Series 1990 Bonds, become subrogated to the rights of the recipients of such payments in accordance with the terms of the Series 1990 Security Instrument and, to evidence such subrogation, (1) in the case of subrogation to claims for past due interest, the Trustee shall note the Series 1990 Security Instrument Issuer's rights as subrogee on the registration books maintained by the Trustee upon receipt from the Series 1990 Security Instrument Issuer of proof of the payment of interest thereon to the holders of such Series 1990 Bonds and (2) in the case of subrogation as to claims for past due principal, the Trustee shall note the Series 1990 Security Instrument Issuer's right as subrogee on the registration books for the Series 1990 Bonds maintained by the Trustee upon receipt of proof of the payment of principal thereof to the holders of such Series 1990 Bonds. Section 603. Limitation on Issuance of Additional Bonds. So long as the Series 1990 Security Instrument shall be in effect and there is no default in the payment obligations on the Series 1990 Security Instrument, the City covenants that Variable Rate Bonds shall not be issued in an aggregate Principal amount exceeding 40% of the then Outstanding Principal amount of Bonds and Prior Lien Bonds unless the Trustee shall be provided with an Accountant's Certificate certifying that Net Revenues for the preceding two Fiscal Years equaled at least 125% of Aggregate Debt Service on the Bonds Outstanding and the proposed Bonds for such period, assuming Variable Rate Bonds Outstanding and proposed to be issued bore interest during such period at the maximum interest rate such Variable Rate Bonds may bear. -23- Section 604. Limitation on Rights of Bondholders under Article IX of the Resolution. So long as the Series 1990 Security Instrument is in full force and effect and not in default on any payment obligation, no Holder of a Series 1990 Bond may exercise any rights under Sections 9.02 or 9.05 of the Resolution without the prior written consent of the Series 1990 Security Instrument Issuer. Section 605. Access to Registration Books. Upon the occurrence of an Event of Default which would require the Series 1990 Security Instrument Issuer to make payments under the Series 1990 Security Instrument, the Series 1990 Security Instrument Issuer and its designated agent shall be provided with access to the Bond registration books of the City maintained by the Trustee. Section 606. Supplemental Resolution Transcript. The Series 1990 Security Instrument Issuer shall be provided with a full transcript of all proceedings relating to the execution of any supplemental resolution, regardless of whether consent of the Series 1990 Security Instrument Issuer was required for such execution. Section 607. Additional Conditions for Defeasance. (a) Series 1990 Bonds shall, prior to the maturity or redemption date thereof, be deemed to have been paid within the meaning and effect of Section 11.01(a) of the Resolution upon satisfaction of the conditions specified in Section 11.01(b) of the Resolution provided that (a) the Government Obligations deposited with the Trustee pursuant to Section 11.01(b) of the Resolution are direct non- callable obligations of the United States of America or other Government Obligations approved by the Series 1990 Security Instrument Issuer, and (b) the Trustee shall have received a verification report from an independent nationally recognized public accountant experienced in the preparation of such reports to the effect that funds from such Government Obligations and other available cash deposited with the Trustee will be available in sufficient amounts to satisfy the requirements of Section 11.01 of the Resolution. (b) Amounts paid by the Series 1990 Security Instrument Issuer under the Series 1990 Security Instrument shall not be deemed paid pursuant to Section 11.01(b) of the Resolution and shall continue to be due and owing under the Resolution and hereunder until actually paid by the City. Section 608. Notice. (a) The Security Instrument Issuer shall have the right to receive all notices under the Resolution that are given to the holders of any of the Series 1990 Bonds. All demands, notices, approvals, consents, requests, opinions and other communications hereunder to the Series 1990 Security Instrument Issuer shall be in writing and shall be deemed to have been given when delivered in person or mailed by first class registered or certified mail, postage prepaid, addressed to Financial Guaranty Insurance Company, 175 Water Street, New York, New York 10038, Attention: President. The Series 1990 Security Instrument Issuer may, by notice to the City and the Trustee, designate any further or different addresses to which subsequent demands, notices, approvals, consents, requests, opinions or other communications shall be sent or persons to whose attention the same shall be directed. Section 609. Reports and Information. The Series 1990 Security Instrument Issuer shall be provided with the following information: -24- (i) Budget for each year and annual audited financial statements, preferably within 120 days after the end of the City's fiscal year; (ii) Official statement, if any, prepared in connection with the issuance of additional debt; (iii) Concurrently with the audited financials, a. Annual traffic data: i. Number of enplanements/deplanements ii. Number of airlines operating and percentage of enplanements/ deplanements which each comprises, b. Number and names of airlines which maintain maintenance facilities at the airport, c. Current landing fees rates ($/1000 lbs.), d. Current terminal space rental rate ($/sq.ft.), and e. Expansion and improvements projects planned or undertaken since last reporting date; (iv) Notice of the redemption, other than mandatory sinking fund redemption, of any of the Series 1990 Bonds including the principal amounts, maturities and CUSIP numbers thereof; and (v) Such additional information as the Series 1990 Security Instrument Issuer may reasonably request from time to time.] *[ARTICLE VII SERIES 1990 RESERVE INSTRUMENT Section 701. Authorization. (a) The use of the Series 1990 Reserve Instrument is hereby authorized. So long as the Series 1990 Reserve Instrument shall be in effect and there is no default in the payment obligations on the Series 1990 Security Instrument, the City and the Trustee shall comply with the provisions of the Series 1990 Reserve Instrument. The Mayor is hereby authorized to execute and deliver, and the City Recorder is hereby authorized to countersign and attest, the Series 1990 Reserve Instrument Agreement in substantially the form presented at the meeting at which the Series 1990 Supplemental Resolution is adopted, with such changes, omissions, insertions and revisions *The City reserves the option to issue the Series 1990 Bonds with or without a Series 1990 Reserve Instrument or a funded Series 1990 Debt Service Reserve Subaccount. -25- as the Mayor shall deem advisable. None of the City's obligations under the Series 1993 Reserve Instrument Agreement constitute Reserve Instrument Costs. Any commitment fee, premium or Rating Agency fees payable in connection with the issuance of the Series 1993 Reserve Instrument prior to or upon issuance of the Series 1993 Reserve Instrument constitute Reserve Instrument Costs. (b) The obligation of the City to pay the Series 1990 Reserve Instrument Issuer the amounts specified by paragraph 2 of the Series 1990 Reserve Instrument Agreement shall constitute Reserve Instrument Repayment Obligations under the Resolution and Series 1990 Reserve Instrument Repayment Obligations hereunder. For all purposes of the Resolution, the amounts payable under paragraph 2(a) of the initial Series 1990 Reserve Instrument Agreement and Section 702(c)(1) shall be allocable as principal of the Series 1990 Reserve Instrument Repayment Obligations and the amounts payable under paragraph 2(b) of the initial Series 1990 Reserve Instrument Agreement and Section 702(c)(2) shall be allocable as interest on the Series 1990 Reserve Instrument Repayment Obligations. None of the City's obligations under the Series 1990 Reserve Instrument Agreement constitute Reserve Instrument Costs. Any commitment fee, premium or Rating Agency fees payable in connection with the issuance of the Series 1990 Reserve Instrument prior to or upon issuance of the Series 1990 Reserve Instrument constitute Reserve Instrument Costs. Section 702. Draws on Series 1990 Reserve Instrument. (a) At least two business days before each interest payment date, the Trustee shall ascertain the necessity for a draw on the Series 1990 Reserve Instrument and provide notice to the Series 1990 Reserve Instrument Issuer in accordance with the terms of the Series 1990 Reserve Instrument. (b) The Trustee shall, on or before any payment date for the Series 1990 Bonds on which there are insufficient funds available in the Series 1990 Bond Service Subaccount to make the payment due on such payment date, draw upon the Series 1990 Reserve Instrument in accordance with its terms, to the extent necessary, and shall apply moneys received as a result of such drawing, to pay Principal Installments of and interest on the Series 1990 Bonds, whether upon redemption, at maturity or upon acceleration of maturity. If and to the extent that cash has also been deposited in the Debt Service Reserve Series 1990 Subaccount, all such cash shall be used (or investments purchased with such cash shall be liquidated and the proceeds applied as required) prior to any drawing under the Series 1990 Reserve Instrument. (c) If the Series 1990 Reserve Instrument Issuer makes any payments to the Trustee pursuant to a draw on the Series 1990 Reserve Instrument as contemplated by Section 702(b), the City shall (1) repay the Series 1990 Reserve Instrument Issuer such amount and related reasonable expenses incurred by the Series 1990 Reserve Instrument Issuer, and the City (2) shall pay interest thereon at a rate equal to the lower of (i) the prime rate of Morgan Guaranty Trust Company of New York in effect from time to time plus 2% per annum or (ii) the highest rate permitted by law. Repayment of such draws, expenses and accrued interest are hereby designated as Series 1990 Reserve Instrument Repayment Obligations and shall commence in the first month following each draw, and each such monthly payment shall be in an amount at least equal to 1/12 of the aggregate of such Series 1990 Reserve Instrument Repayment Obligations related to such draw by the City by transferring and depositing such amount in the Series 1990 Debt Service Reserve Subaccount, subject to the provisions of Section 5.06(a)(1)(B) of the Resolution. The Trustee -26- shall promptly pay such amounts to the Series 1990 Reserve Instrument Issuer in accordance with its instructions. Section 703. Remedies of Series 1990 Reserve Instrument Issuer. So long as the Series 1990 Reserve Instrument shall be in effect and there is no default in the payment obligation on the Series 1990 Reserve Instrument, if the City shall fail to repay any Policy Costs in accordance with Section 702(c) hereof the Series 1990 Reserve Instrument Issuer shall be entitled to exercise any and all remedies available at law or under the Resolution other than (i) acceleration of the maturity of the Series 1990 Bonds or (ii) remedies which would adversely affect holders of any Bonds. Section 704. No Assignment of Series 1990 Debt Service Reserve Instrument or Revenues. The Trustee shall not sell, assign or otherwise transfer the Series 1990 Reserve Instrument, except to a successor Trustee under this Series 1990 Supplemental Resolution and in accordance with the terms of the Series 1990 Reserve Instrument. The Trustee is authorized to comply with the provisions of the Series 1990 Reserve Instrument. Section 705. Consent of FGIC for Other Reserve Instruments. As long as the Series 1990 Reserve Instrument shall be in effect and shall not be in payment default, the City shall not obtain, without the consent of FGIC, any Reserve Instrument relating to the Series 1990 Bonds other than the Series 1990 Reserve Instrument.) ARTICLE VIII MISCELLANEOUS Section 801. System of Registration. The Resolution shall constitute a system of registration within the meaning and for all purposes of the Registered Public Obligations Act, Chapter 7 of Title 15, Utah Code Annotated 1953, as amended. Section 802. Article and Section Headings. The headings or titles of the several articles and sections hereof, and any table of contents appended to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction or effect of this Series 1990 Supplemental Resolution. Section 803. Partial Invalidity. If any one of more of the covenants or agreements, or portions thereof, provided in this Series 1990 Supplemental Resolution to be performed shall be contrary to law (other than the provisions of the Resolution limiting the liability of the City to make payments on the Bonds solely from Revenues and other amounts pledged therefor by the Resolution), then such covenant or covenants, such agreement or agreements, or such portions thereof, shall be null and void and shall be deemed separable from the remaining covenants and agreements or portions thereof and shall in no way affect the validity of this Series 1990 Supplemental Resolution or of the Series 1990 Bonds; but the holders of the Series 1990 Bonds, any Security Instrument Issuer and any Reserve Instrument Issuer shall retain all the rights and benefits accorded to them under the Act or any other applicable provisions of law. Section 804. Effective Date. This Series 1990 Supplemental Resolution shall take effect immediately. -27- ADOPTED AND APPROVED this day of , 1990. SALT LAKE CITY, SALT LAKE COUNTY, UTAH Mayor [SEAL] COUNTERSIGN AND ATTEST: City Recorder Approved as to form: City Attorney RJS/jg1/859348C-sr -28- (Other business not pertinent to the above appears in the minutes of the meeting.) Upon the conclusion of all business and upon motion duly made and carried, the meeting of the Municipal Council was adjourned. Alan G. Hardman Chair ATTEST: Kathryn Marshall City Recorder [SEAL] -13- STATE OF UTAH ) COUNTY OF SALT LAKE ) I, Kathryn Marshall, 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, that the above and foregoing constitutes a true and correct copy of excerpts from the minutes of a regular public meeting of the Municipal Council of Salt Lake City, Salt Lake County, Utah, held on January 16, 1990, including a resolution adopted at said meeting, as said minutes and resolution are officially of record in the City Recorder's office. IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the corporate seal of Salt Lake City, Salt Lake County, Utah, this 16th day of January, 1990. Kathryn Marshall City Recorder Salt Lake City, Salt Lake County, Utah [SEAL] RJS/RAC/jgl/859348-pt -14- C ROGER F. CUTLER �1 �,7i�� i1 �,��77 ASSISTANT ATTORNEYS CITY ATTORNEY 1 vs � 011i �IJl tII 1l©Nf RAY L. GREGMR. HAWKINS MONTGOMERY STEVEN W. ALLRED LARRY V. SPENDLOVE DEPUTY CITY ATTORNEY LAW DEPARTMENT BRUCE R. BAIRD CHERYL D. LUKE CITY AND COUNTY BUILDING FRANK M. NAKAMURA CITY PROSECUTOR 451 SOUTH STATE STREET, SUITE 505 ASSISTANT PROSECUTORS SALT LAKE CITY, UTAH 84111 CECELIA M. ESPENOZA RICHARD G. HAMP TELEPHONE (801) 535-7788 GLEN A. COOK FAX (801) 535-7640 January 8, 1990 MEMORANDUM TO: Cindy Gust-Jenson City Council FROM: Bruce R. Baird Assistant City Atto ey RE: Petition No. 400-756-89 Pursuant to the Council ' s deliberations on December 12, 1989 I have modified the ordinance effectuating Petition No. 400-756. I am sending a copy of this memorandum to the Real Property Department to alert them to the additional condition imposed by Section 2 of the ordinance concerning a restriction requested by the Council on building on the north six ( 6 ) feet of the vacated and closed portions of the alley. Real Property should include this provision in any deeds transferring the property. If you have any questions, please call. BRB:cc cc: Linda Cordova/with attachment Kathie Marshall/without attachment Portion closed: commencing at the southeast corner of 900 East Street and Elm Avenue; thence 90 feet south along the East (70 line of 900 East Street; thence east 142. 5 feet along the north line of Lot 22 of Fairmount Springs ',j ()��'' Addition subdivision to the point of beginning; thence south 221 feet; thence east 10 feet to the center line of the alley; thence north 221 feet along said center line; thence west 10 feet to the point of beginning. Portion vacated: Commencing at the southeast corner of 900 East Street and Elm Avenue; thence 90 feet south along the East line of 900 East Street; thence east 162. 5 feet to 14; �v�c , the northwest corner of Lot 13 of Fairmount Springs �� Addition subdivision to the point of beginning; thence south 221 feet; thence west 10 feet to the center line of the alley; thence north 221 feet along said center line; thence east 10 feet to the point of beginning. SECTION 2. RESERVATIONS AND DISCLAIMERS. The above closure and vacation is expressly made SUBJECT TO all existing rights-of- way and easements of all public utilities of any and every description now located on and under or over the confines of the property and also SUBJECT TO the rights of entry thereon for the purposes of maintaining, altering, repairing, removing or rerouting said utilities, including the City' s water and sewer facilities, and all of them. Said closure and vacation is also SUBJECT TO any existing rights-of-way or easements of private third parties. The north six ( 6 ) feet of the full width of the alley, including the closed and the vacated portions, shall also be SUBJECT TO a condition which shall be included in the deeds of transfer, running with the land for the mutual benefit of the properties adjoining the alley, prohibiting the construction of -2- • (r • SAliaCRAIG E. PETERSON ,of®� CTY�G0,RP® ION DIRECTOR COMMUNITY AND ECONOMIC DEVELOPMENT 451 SOUTH STATE STREET, ROOM 218 SALT LAKE CITY, UTAH 84111 TELEPHONE 535-7777 To: Salt Lake City Corporation November 7, 1989 Re: Petition No. 400-756-89 submitted by Ricks and Brown Architects Recommendation: That the City Council hold a public hearing on December 12, 1989 at 6:40 p.m. to discuss Petition No. 400-756-89 submitted by Ricks and Brown Architects for their client Mr. LeRoy Peterson if Printers, Inc. The petitioner is requesting that the alley adjacent to their property at 2185 South 900 East Street be vacated. Availability of Funds: Not applicable _ f Discussion and Background: The petitions has been reviewed by the appropriate department who recommend that the western half of the alley abutting commercial properties be closed for sale to the abutting property owners and that the eastern half of the alleyway be vacated to the abutting residential property owners. Salt Lake City will retain ownership of the closed property south of Printer's Inc, until the abutting property owner is ready to purchase the property. The closure should be subject to the following conditions: 1. Coordination and retention of utility easements. 2. Eliminating outside storage on the Printer's Inc. property. 3. Maintain the east/west alleyway access by not allowing parked vehicles within this alley. 4. The petitioner pay for an M.A.I. appraisal and pay the City accordingly for the closed portion of the alleyway. Legislative Action: The City Attorney's Office has prepared and approved the necessary ordinance and is attached for your action. Submitted by: 2/11/(---1 f `ICHAEL B. Z cting Direct Community and - ` velopoment S ' ' Ali aP;G , R :L ALLEN C. JOHNSON. AICP PLANNING AND ZONING PLANNING T RECTOR COMMISSION MEMBERS COMMUNITY AND ECONOMIC DEVELOPMENT WILLIAM T. WRIGHT, A1CP RALPH BECKER DEPUTY DIRECTOR PLANNING DIVISION DAN BETHEL SUPERVISOR LONG RANGE PLANNING Planning and Zoning Commission CINDY CROMER AND URBAN DESIGN THOMAS A. ELLISON SANDRA MARLER 451 SOUTH STATE STREET LAVONE LIDDLE-GAMONAL SECRETARY ROOM 406, CITY AND COUNTY BUILDING RICHARD J. HOWARALPH P. NEILSON SALT LAKE CITY, UTAH 84111 GEORGE NICOLATUS TELEPHONE 535-7757 JOHN M. SCHUMANN October 23 , 1989 Mr . Michael Zuhl Chief of Staff Room 218 451 So . State Street Salt Lake City , UT 84111 Re : Transmittal of Petition 400- 756 by Printers Inc . to vacate an alley adjacent to property at 2185 So . 900 East . Dear Mike : This petition is requesting to vacate a portion of an alley abutting Printers Inc . property on 900 East Street . The alley is situated between 900 East and Lincoln Street . A field check indicates that the this alley is not used -as access by any of the homes on Lincoln Street . However , a response from one of the those home owners identified that he uses his rear yard for recreational vehicle storage and that he accesses his rear yard through the commercial property south of Printers Inc . Access from Lincoln Street to this individuals rear yard is blocked by a detached garage . Fire , Engineering , Public Utilities , Transportation , and Property Management departmental responses to the petition request have been obtained and attached . The recommendation conditions of closure listed below incorporates the concerns of the various departments . The Planning office has sent notices to all of the abutting property owners . One did not respond , the other five indicated support of the alley closure with one indicating a desire to establish an access easement which would be across a private parcel and not along the existing alleyway . ( see attached map ) The planning staff recommends that the entire alley be closed/vacated rather than just a portion as requested in the petition . The Printers Inc . is presently using all of the twenty foot alley abutting their property for parking and access to their building . This portion of the alley is hard surfaced and the balance of the alleyway to the south is overgrown with vegetation . It is recommended that the western half of the alley abutting commercial properties be closed for sale to abutting property owners and that the eastern half of the alleyway be vacated to the abutting residential propertyies . Salt Lake City should retain ownership of closed property south of Pointer ' s Inc . until the abutting property owner is ready to purchase . The closure should be subject to the following conditions identified by various city departments : 1 . Coordination and retention of utility easements . 2 . Eliminating outside storage on the Printer ' s Inc . property . 3 . Maintain the east/west alleyway access by not allowing parked vehicles within this alley . 4 . The petitioner pay for an M . A . I . appraisal and pay the City accordingly for the closed portion of the alleyway . If you have any questions concerning this petition please contact myself or Everett L . Joyce . Sincerely , Allen ,C . J hnson , AICP Planni irector ACJ : elj cc : John Schuman , Chairman Planning Commission file PETITI®N NO. 400-756 Printer's Inc. Alley Closure I w w 3t Sfao92E ?a 916E -E02E we0rr?z-- rjZ.L /CT r'1,1a uSrC pt.;J i' ''), {1/ 11 �N 7sii_. cV rr� 1 A � L• � 20 `J No i 1.6- : Mma w�� dr „ onse QRes %/ //i N 4"--- /, _ / / ,:\.. z tt ''d2 A t. 7.1, .g /; _ ,,,, ,,,/,, , /z. //,,... /../, A , -.,-:;, , — I, 1 ; ,-) ' -II III ; '( ** a) I,____I L_:.„., i 2, 1 i---1 1 1 1 -N tp g 2,/, //ae- % 1 �'f/1 ',' , (1) - // / / --P° ' i // i / / 'VZ// itaild Petitioner ///f Support Petition Desires Access Easement Ssia �IT�Y Gam;RPmI� FINANCE DEPARTMENT LINDA HAMILTON Purchasing and Property Management Division PALMER DEPAULIS DIRECTOR OF FINANCE 451 SOUTH STATE STREET MAYOR ROOM 345 SALT LAKE CITY. UTAH 84111 PROPERTY (801) 535-7133 October 19, 1989 PO: Everett L. Joyce Planning FRCM: Linda Cordova Property Maria ' r REF: PETITION NO. 400-756, PRINTERS INC. CLOSURE OF ALLEY r ADJACENT TO PROPERTY AT 2185 SOUTH 900 EAST STREET Property Management has no objection to the alley closure. The Petitioner should be required to pay for an M.A.I. appraisal to determine fair market value and pay the City accordingly. After looking at the condition of the alley and lack of use as a public alley, I would further recommend that consideration be given to closing/vacating the entire alley. Please have your department review this possibility and proceed. LC/mt Joyce.Printers'Inc. SALT'LAKE',G IT�Y;r CORPORATION DEPARTMENT OF PUBLIC WORKS ALMER DEPAULIS City Engineering Division MAX G. PETERSON, P.E. MAYOR 444 SOUTH STATE STREET CITY ENGINEER SALT LAKE CITY, UTAH 84111 535-7871 TO : EVERETT L . JOYCE is FROM : HARRY EWING �� / i/ — DATE : AUGUST 28 , 1989 SUBJECT : PETITION NO . 400-756 BY PRINTERS , INC . -- 1 This Department has reviewed Petition No . 400- 756 requesting the City vacate an alley running north and south at the rear of 2185 South 900 East Streets . Our findings shown this alley to be approximately 221 feet long by 20 feet wide , dead ending at the D&RG Railroad right-of-way on the south . The alley has the appearance of non-use because of existing encroachments by the abutting properties . It appears the use of the alley could best be served in the hands of the property owners ; therefore , we recommend approval of this petition . HE : po - Attachment cc : Vault LEROY W. HOOTON, JR. DIRECTOR . =NDELL E. EVENSEN, PE. ,�''vn�77 SUPERINTENDENT SM2 A\4PgillAre 2119. 1\f .. TEP.SUPPLY 8 WATERWORKS 11JJ .r w► E.TIM DOXEY SUPERINTENDENT DEPARTMENT OF PUBLIC UTILITIES WATER RECLAMATION E:,-'-WATER SUPPLY&WATERWORKS ., PALMER DEPAULIS .TAMES M. LEWIS, c.PA. c 4 WATER.REC_LAMATION , __ MAYOR 8 CHIEF FINANCE ACCOUNT,NG OFFICER :1.53 SOU TS 'WEST:;TEMPLE- GEORGE JORGENSEN, P.E. sCITY, UTAH 84115 CHIEF ENGINEER SALT'LAKE TO: JANICE JARDINE PLANNING & ZONING , FROM: E. T. DOXEY WATER RECLAMATION SUPERINTENDENT DATE: AUGUST 24, 1989 SUBJECT: PETITION NO. 400-756 PRINTERS INC. - CLOSURE OF ALLEY ADJACENT TO PROPERTY AT 2185 SOUTH 900 EAST The Public Utilities Department has reviewed the above noted petition and has no objections to the Petitioner' s request. There are no water or sewer conflicts. If you have further questions regarding this matter, please feel free to call Mr. Ray Eastman at 483-6787. /kg FORMS cc: File • L /-! /3 L/ LA__, ` "%/4 / %,� i �/ A_ G< �l s 7 • . ( / � ✓ C La S �t � O G i.l LPL L D / /\(5 / % �p.E jff O • A y � f > . OT ,o H p ) D� IL5 a C S 6 ST /NE o .L I 174-s-r ALLEN C. JOHNSON. AICP _ PLANNING AND ZONING PLANNING DIRECTOR COMMISSION MEMBERS: .V:LLIAM T. WRIGHT, AICP COMMUNITY AND ECONOMIC DEVELOPMENT RALPH BECKER DEPUTY DIRECTOR PLANNING DIVISION DAN BETHEL SC=ERVISOR LONG RANGE PLANNING Planning and Zoning Commission CINDY CROMER AND URBAN DESIGN THOMAS A. ELLISON SANDRA MARLER 451 SOUTH STATE STREET LAVONE LIDDLE-GAMONAL SECRETARY ROOM 406, CITY AND COUNTY BUILDING RICHARD J. HOWARALPH P. NEILSON SALT LAKE CITY, UTAH 84111 GEORGE NICOLATUS TELEPHONE 535-7757 JOHN M. SCHUMANN MEMORANDUM To : Raema Hunsaker , Fire From: Everett L. Joyce 4' t Date : August 14 , 1989 Subject: Closure of alley adjacent to property at 2185 So. 900 East Street . - Petition No. 400-756 Printers Inc . This petition is requesting to vacate the portion of the alley abutting Printers Inc . property on 900 East. (See attached map) A field check verified that this alley is not used as access by any of the homes on Lincoln Street that abut the alley. This alley is twenty feet in width and terminates at the south end at the Denver and Rio Grande Western railroad line. The commercial properties along 900 East have encroached into the alleyway. The majority of the alley contains mature vegetation. Please review and comment on this petition request . The Planning Division recommends that the entire alley be removed from public ownership. The portion of the alley that is adjacent to commercial use (ten foot width) should be closed and sold to abutting properties . The portion of the alley adjacent to residential uses ( ten foot width) should be vacated with the property going to the abutting user . The petitioner will be submitting development plans for the expansion of the printing establishment . Closure of the alleyway would be necessary to implement these plans , existing zoning requires a 10 foc - andscaped rear yard . • SALT' ',_LAKE CITY CORPORATION TRANSPORTATION ENGINEERING 333 SOUTH 200 EAST, SUITE 201 JOSEPH R. RE ON = TIMOTHY P. HAP,PST, P.E. r_!IC WORKS DIRECTOR SALT LAKE CITY, UTAH 84111 (801) 535-6630 CITY TRANSPORTATION ENGINEER August 15 , 1989 Everett L. Joyce Planning & Zoning Room 406 - City Hall RE: Petition No . 400-756 - Printers Inc. to Vacate Alley Adjacent to 2185 South 900 East Dear Everett : The Division of Transportation recommends approval of the alley vacation subject to the following: 1 ) Signatures of all abutting property owners along the alley; 2 ) Coordination and retention of all utility easements as required . 4utt/- t& Scott R. Vaterlaus Traffic Engineer I BDW/lh cc : Steve Meyer I^ Barry Walsh File August 3 , 1989 Salt Lake City Corporation Community and Economic Development 451 South State Street Room 218 , City and County Building Salt Lake City, Utah 84111 Gentlemen: On behalf of our Client, Mr Leroy Petersen of Printers , Inc. located at 2185 South 900 East , we hereby request that a portion of the existing alley at the rear of the property at this address be vacated to allow our client to make an expansion of his present building. The existing alleyway to the rear of this property is no longer being publicly used . There appears to be no access requirements for other property owners and the alleyway has no public access from the South because of the railroad tracks there. Some fences have been erected by other property owners in the alley and some areas are being used for storage. Submitted herewith, for your review, are the fol- lowing: A Site Plan showing Property Lines , Building location and the expected expansion of the existing facility by Printers , Inc. ; A property description and a list of property owners of the surrounding properties; Contract of Property Purchase showing that Mr. Leroy Petersen is the current property owner. We would appreciate the City ' s consideration of this proposal . If there are any questions, please call . Sincerely, 0c.11: E. Way c Ricksi jii Ricks & Brown Architects/Planners J i 1 0 /7/ 1 'cc Leroy Petersen, Printers , Inc. uJ. :..,/ J SALT''LAM'G�-IrTYO1P0RATI,ON{ ....� .,�,....�P ate..®-..... DEPARTMENT OF PUBLIC WORKS JOSEPH R. ANDERSON 324 SOUTH STATE STREET PALMER DEPAULIS P U9LIC WORKS DIRECTOR SALT LAKE CITY, UTAH 84111 MAYOR 535-7775 ' TO: Salt Lake City Council DATE: December 5 , 1989 REFERENCE: Notice of Intention for 400 to 500 South Connector Curb and Gutter Extension No. 38-758 RECOMMENDATION: That the City Council adopt the Notice of Intention for the district and authorize the City to proceed with the advertising of the Notice of Intention in accordance with the attached schedule. AVAILABILITY OF FUNDS: Fiscal year 1988/89 and 1990/91 and Class "C" Road Funds and property owner assessments through the Special Improvement District. DISCUSSION: The 400 to 500 South Connector Curb and Gutter Extension Project involves the construction of 500 South Street from Redwood Road to the Surplus Canal. The project will include curb and gutter, driveway approaches, storm drainage, traffic signals, utility relocations, with five traffic lanes (two each direction with a left turn center lane) . It is planned to bid the work during the spring of 1990, and begin construction in April 1990. The majority of the work will be done during the summer of 1990 and should be completed by late fall . The construction will be in phases and administered as to cause the minimum amount of disruption and inconvenience to the businesses and pedestrians. Attached is an information sheet, letter to the abutting property owners, the Notice of Intention, and a schedule of events for hearings and meetings on this project. CONTACT PERSON: John Naser , Project Manager 535-6240 SUBMITTED BY: Joseph R . Anderson, Public Works Director JRA:JNN:cp Attachment co(11 INFORMATION SHEET 400 TO 500 SOUTH CONNECTOR CURB AND GUTTER EXTENSION PROJECT NO. 38-758 • DISCUSSION The 400 to 500 South Connector Curb & Gutter Extension Project involves the construction of 500 South from Redwood Road to the Surplus Canal and the connection of 400 South to 500 South at Orange Street. The project will include curb and gutter, some sidewalk, driveway approaches, storm drainage, traffic signals, utility relocations and five traffic lanes (two each direction with a left turn center lane) . If is planned to bid the work during February 1990, and begin construction in April 1990. The work will be done during next summer and completed by late fall. The construction will be in phases and administered as to cause the minimum amount of disruption and inconvenience to the businesses and property owners. Assessments to the property owners would include the curb and gutter, driveway approaches, a small amount of sidewalk and ten (10) feet of the pavement. All other improvements will be paid ci4for using and the Class "C" Roadway Funds. RECOMMENDATION It is recommended the City Council adopt the Special Improvement District Notice of Intention and authorize the City to proceed with the advertising of the Notice of Intention. ESTIMATED COST OF IMPROVEMENTS The total cost of improvements in said proposed Special Improvement District as estimated by the City Engineer is $1, 852, 800. 00 of which it is anticipated the Municipality will pay $1, 545, 700.00. Approximately $307, 100. 00 shall be paid by a special tax to be levied against the property abutting upon the streets to be improved or upon property which may be affected or specifically benefited by such improvements. The actual commitment of the municipality to pay its portion of the costs of improvements is subject to the availability of funds and compliance with budget approval. The estimated costs include an allowance for contingencies and an allowance of approximately fifteen percent (15%) for administrative costs, engineering, legal and other costs in connection with the issuance of bonds. The property owners ' 0. portion of the total estimated cost of the •improvements may be 4 financed during the construction period by the use of interim . 4 - warrants. The interest on said warrants will be assessed to the • property owners. The estimated cost to be assessed against the properties within Curb and Gutter Extension No. 38-758 shall be as follows: IMPROVEMENTS AND ESTIMATED COSTS Rate Improvements Front Feet Estimated Estimated No. of Abutting Cost Per Cost Property Foot 1 . Sidewalk, Curb & Gutter and 10 ' of 8" Thick Industrial Class Pavement 494 . 07 $48 . 11 $ 23 , 769 . 71 2 . Curb & Gutter & 10 ' of 10" Thick Industrial Class Pavement 5 , 270 . 76 $42 . 00 $ 221, 371 . 92 3 . Curb & Gutter & 10 ' of 8" Thick Industrial Class Pavement 585 . 44 $37. 71 $ 22,076 . 94 4 . 10 ' of 8" Thick Industrial Class Pavement 1, 138 . 31 $25 . 84 $ 29 , 413 . 93 Total Assessable Frontage 7, 488. 58 $ 296, 632 . 54 Estimated Cost for Driveway Approach $ 10, 500 . 00 Total Estimate Abutters Portion of Improvements $ 307, 132. 50 FUNDING SOURCE 1 . Abutting Property Owners Portion for Improvements A. Estimated Cost for Improvements $ 307, 100 . 00 B. Interest on Interim Finance $ 30 , 000 . 00 2 . Estimated City Portion Funding for Improvements $1,545 , 700 . 00 ) BD561 (PF) l` Salt Lake City, Utah • December 5, 1989 • A regular meeting of the City Council of Salt Lake City, Salt Lake County, Utah was held on Tuesday the 5th day of December, 1989, at the hour of 6:00 p.m. , at the offices of the City Council at 451 South State Street, Salt Hake City, Utah at which meeting there were present and answering roll call the following members who constituted a quorum: W. M. "Willie" Stoler Chair Alan Hardman Vice Chair L. Wayne Horrocks Councilmember Florence B. Bittner Councilmember Thomas M. Godfrey Councilmember Sydney Reed Fonnesbeck Councilmember Roselyn N. Kirk Councilmember Also present: Palmer A. DePaulis Mayor Roger F. Cutler City Attorney Kathryn Marshall City Recorder Absent: Thereupon the following proceedings, among others, were duly had and taken: • Councilmember introduced the following resolution in writing, which was read by title and moved its adoption: RESOLUTION NO. of 1989 A RESOLUTION DECLARING THE INTENTION OF THE CITY COUNCIL OF SALT LAKE CITY, SALT LAKE COUNTY, STATE OF UTAH, TO CONSTRUCT IMPROVEMENTS ON 500 SOUTH FROM REDWOOD ROAD WEST TO PIONEER ROAD AND THE NORTH AND SOUTH SIDES OF 400 TO 500 SOUTH CONNECTOR FROM REDWOOD ROAD TO ORANGE STREET, INCLUDING CURB AND GUTTERS, SIDEWALKS, ASPHALT PAVEMENT AND DRIVEWAYS AND ALL OTHER MISCELLANEOUS WORK NECESSARY TO COMPLETE THE IMPROVEMENTS; TO CREATE SALT LAKE CITY, UTAH CURB AND GUTTER EXTENSION SPECIAL IMPROVEMENT DISTRICT NO. 38-758; TO DEFRAY THE COST AND EXPENSES OF A PORTION OF SAID IMPROVEMENT DISTRICT BY SPECIAL ASSESSMENTS TO BE LEVIED AGAINST THE PROPERTY BENEFITED BY SUCH IMPROVEMENTS; TO PROVIDE NOTICE OF INTENTION TO AUTHORIZE SUCH IMPROVEMENTS AND TO FIX A TIME AND PLACE FOR PROTESTS AGAINST SUCH IMPROVEMENTS OR THE CREATION OF SAID DISTRICT; TO AUTHORIZE ADVERTISEMENT OF CONSTRUCTION -BIDS AND RELATED MATTERS. BE IT RESOLVED by the City Council of Salt Lake City, Salt Lake County, Utah: Section 1 . The City Council of Salt Lake City, Salt Lake County, Utah (the . "City" ) hereby determines that it will be in the best interest of the City to make improvements that will include construction of designated widths of roadway pavement, concrete curb and gutter and pavement where it does• not now exist and related driveway improvements and other improvements and modifications (collectively the "Improvements" ) , and to complete the whole according to the design plans, profiles and specifications on file in the Office of the City Engineer of Salt Lake City, Utah. In order BD561 (PF) 2 • to finance the costs of the Improvements, the City proposes to create and establish a special improvement district which is more particularly described in the Notice of Intention, to construct the proposed Improvements. Section 2 . The proposed district shall be known as Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No. 38-758" (the "District" ) . Section 3 . The cost and expenses of a portion of the proposed Improvements shall be paid by a special tax to be levied against the property fronting or abutting upon or situated within the District to be improved or which may be affected or specially benefited by any of such Improvements, such tax to be paid in not more than ten (10) equal annual ! a" installments with interest on the unpaid balance until due and paid. Section 4. Written protests against the proposed Improvements or against the creation of the District must be presented and filed in the Office of the City Recorder of Salt Lake City, Utah on or before the 16th day of January, 1990, at the hour of 5:00 p.m. Thereafter at 6:00 p.m. on Tuesday, the 16th day of January, 1990 at the City Council Chambers at 451 South State Street in Salt Lake City, Utah, any such protests shall be heard and considered by the City Council. The City Recorder is hereby directed to give notice of intention to make the proposed Improvements and of the time 4.a._ BD561 (PF) 3 within which protests against the proposed Improvements or the creation of the District may be filed and the date when such protests will be heard and considered by publishing a notice of intention to create the District in the Deseret News, a newspaper of general circulation in the City, said notice to be published four times, once during each week for four consecutive weeks, the last publication to be not less than five (5) nor more than twenty (20) days prior to the time fixed in the notice as the last day for the filing of protests. In addition, the City Recorder shall mail a copy of such notice by United States Mail, postage prepaid, to each owner of land to be assessed within the proposed District at the last known address of such owner, using for such purpose the names and addresses of said owners appearing on the last completed real property assessment rolls of Salt Lake City, Salt Lake County, and, in addition, a copy of such notice shall be mailed, postage prepaid, addressed to "Owner" at the street number of each piece of improved property to be affected by the assessment, said notices to be so mailed not later than ten (10) days after the first publication of the Notice of Intention. If a street number has not been so assigned, then the post office box, rural route number, or any other mailing address of the improved property shall be used for the mailing of the Notice . Said Notice shall be in substantially the following form: BD561 (PF) 4 NOTICE OF INTENTION __ PUBLIC NOTICE IS HEREBY GIVEN that on the 5th day of December, 1989, the Mayor and City Council of Salt Lake City, Salt Lake County, Utah (the "City") , adopted a resolution declaring its intention to create a special improvement district to be known as Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No. 38-758 (the "District") . It is the intention of the City Council to make improvements within the District and to levy special taxes as provided in Chapter 16, Title 10, Utah Code Annotated 1953, as amended, on the real estate lying within the District for the benefit of which such taxes are to be expended in the making of such improvements. DESCRIPTION OF DISTRICT The District will be created within the following described area and boundaries and named in the section entitled "Street Improvements" as follows: AREA: The area involved in the Special Improvement District includes property abutting 500 South as detailed on Salt Lake City Atlas Survey Map Plats No. 50 and 51 and as further described on Salt Lake County Property .Bidwell Map's Numbers 15-3-31, 15-3-32, 15-4-41 and 15-4-42. BOUNDARIES: Boundaries of the Special Improvement District being the North and South sides of 500 South from Redwood Road West to Pioneer Road and the north and south sides of 400 to 500 South Connector from Redwood Road to Orange Street. BD561 (PF) 5 STREET IMPROVEMENTS Along the above described sections abutting property owners will be assessed for improvements built at the herein below estimated rates per front foot of abutting property; for designated widths of roadway measured 10 feet out from the street edge of the gutter, for concrete curb and gutter and pavement where it does not now exist, and for the abutter' s portion of certain miscellaneous driveway costs of the project as follows: 400 South Redwood Road to Orange Street, North Side From the west right-of-way of Redwood Road thence southwesterly 1,228. 71 feet to east side of Orange Street row line: Rate 2 400 South Redwood Road to Orange Street, South Side From the west row line of Redwood Road thence southwesterly 1, 134. 40 feet to the east side of Orange Street row line: Rate 2 . 400 South/500 South Connector, Orange Street, to 2300 West Street, North Side From the west row line of Orange Street thence west 3 , 712 . 94 feet to the east side of 2300 West row line: Rate 2 . 400 South/500 South Connector Orange Street to 500 South, South Side From the west row line of Orange Street thence southwesterly 295 .22 feet to the point of intersection to the north row line of 500 South: Rate 2 . Orange Street, 400 South Connector to 500 South, East Side From the south row line of 400 South connector thence southeasterly 225 . 44 feet to the north side row line of 500 South: Rate 3 . BD561 (PF) 6 Orange Street, 400 South Connector to 500 South, West Side From the south row line of 400 South connector thence southeasterly 187 .96 feet to the north side row line of 500 South: Rate 3 . 500 South, Redwood Road to Orange Street, North Side From the west row line of Redwood Road thence west 798 feet: Rate 4. Beginning at a point 798 feet west from the west row line of Redwood Road thence west 153 .05 feet to the. east row line of Orange Street: Rate 1 . From the west row line or Orange Street thence west 349.42 feet to the point it intersects the south row line of 400 South connector: Rate 3 . 500 South, Redwood Road to 2300 West Street, South Side From the west right-of-way line of Redwood thence west 455. 69 feet: Rate 1. . Beginning at a point 798 feet west from the west row line of Redwood Road thence west 340.31 feet: Rate 4. Beginning at a point 796 feet west from the west right- of-way line of Redwood Road thence west 252.017 feet: Rate 1. Beginning at a point 1,048.017 feet west from the west right-of-way line of Redwood Road thence west 360 feet: Rate 3 . Beginning at. a point 1, 1408.017 feet west from the west right-of-way line of Redwood Road thence west 1, 729.30 feet to the east right-of-way line of Delong Street: Rate 2. From the west right-of-way line of Delong Street thence west 1, 122 .41 feet to the east right-of-way line of Surplus Canal. Rate 2 . All other necessary things shall be done to complete the whole project according to preliminary plans and profiles on file in the office of the Salt Lake City Engineer. Cf BD561 (PE) 7 All nonconforming improvements such as lawns, sprinkling systems, rock gardens, driveways, curbs and gutters, culverts, walks, fences, etc . which have been built or installed by abutting property owners within the area to be improved and public way, must be removed by the property owners at their expense prior to the commencement of the project. If these improvements are not removed by the property owners, they will be removed by the contractor and disposed of by him as directed by the City Engineer. ESTIMATED COST OF IMPROVEMENTS The total cost of improvements in said proposed Special Improvement District as estimated by the City Engineer is $1, 852 , 800 . 00 of which it is anticipated the Municipality will pay $1, 545, 700. 00. Approximately $307, 100. 00 shall be paid by a special tax to be levied against the property abutting upon the streets to be improved or upon property which may be affected or specifically benefited by such improvements. The actual commitment of the municipality to pay its portion of the costs of improvements is subject to the availability of funds and compliance with budget approval . The estimated costs include construction and engineering expenses, an allowance for contingencies and allowance of approximately fifteen percent (15%) for administrative costs, legal and other costs in connection with the issuance. of bonds. The assessments, when made for the District, may BD561 (PF) 8 e.) include an amount sufficient to allow for the sale of bonds of the District at a discount and/or the funding of all or a portion of a debt service reserve. The property owners' portion of the total estimated cost of the improvements may be financed during the construction period by the use of interim warrants. The interest on said warrants will be assessed to the property owners. The estimated cost to be assessed against the properties within Curb and Gutter Extension No. 38-758 shall be as follows: BD561 (PE) 9 E; IMPROVEMENTS AND ESTIMATED COSTS Rate Improvements Front Feet Estimated Estimated No. of Abutting Cost Per Cost Property Foot 1. Sidewalk, Curb & Gutter and 10' of 8" Thick Industrial Class Pavement 494.07 $48.11 $ 23,769.71 2. Curb & Gutter & 10' of 10" Thick Industrial Class Pavement 5,270.76 $42.00 $ 221,371.92 3. Curb & Gutter & 10' of 8 " Thick Industrial Class Pavement 585.44 $37.71 $ 22,076.94 4. 10' of 8" Thick Industrial Class Pavement 1 ,138.31 $25.84 $ 29,413.93 Total Assessable Frontage and Cost 7,488.58 $ 296,632.54 Estimated Cost for Driveway Approach $ 10,500.00 Total Estimate Abutters Portion of Improvements $ 307 ,132.50 FUNDING SOURCE 1. Abutting Property Owners Portion for Improvements A. Estimated Cost for Improvements $ 307,100.00 B. Estimated Interest on Interim Finance $ 30,000.00 2. Estimated City Portion Funding for Improvements $1,852,800.00 The estimated cost of the City' s portion consists of the cost of unclassified excavation, the cost of the paving of all BD561 (PF) 10 (i_i • intersections and remainder of street pavement not paid by the abutting property owners, traffic signals, storm drains, sewer systems, resetting manholes and clean out box covers and frames, utility relocations, the cost of replacing any existing curb and gutter or 'sidewalk necessitated by the new improvements, and all miscellaneous costs of the project. Parking area, i . e. , those areas between the back of new curb and the property line, not occupied by walks or driveways will be brought to finished grade using the existing soil unless the property owner desires a 4-inch trough be left for placement of topsoil at his expense and labor. All of the frontage on the street within the district, upon which the improvements are to be made, will be assessed in accordance with the improvements constructed. Credits for corner lot exemptions or partial exemptions will be made as provided by State Statutes and City Ordinances. The abutter' s estimated cost per front foot does not include the cost of driveways which will vary according to width, length and amount of area to be covered. These costs are estimated to be approximately $3 . 50 per square foot for driveways. The cost of driveways will be assessed against the properties benefited in addition to the assessment for curb and gutter and paving. BD561 (PF) 11 ASSESSMENTS AND LEVY OF TAXES It is the intention of the City Council of Salt Lake City, Utah to levy assessments as provided by the laws of the State of Utah on all parcels and lots of real property within the District. The purpose of the assessments and levy is to pay those costs of the subject improvements which the City will not assume and pay. The method of assessment shall be by lineal front foot as set forth herein. The assessment may be paid by property owners in ten (10) equal annual installments with interest on the unpaid balance at a rate or rates fixed by the City Council, or the whole or any part of the assessment may be paid without interest with fifteen (15) days after the ordinance levying the assessment becomes effective. In order to fund the first semiannual interest installment payment and to coordinate the debt service schedule for the bonds of this District with debt service requirements for bonds outstanding from other districts within the City, the first payment of an assessment installment may be scheduled to fall due on a date less than one year from the date of adoption of the assessment' ordinance. Thereafter assessment installments will fall due on the anniversary date of the first installment payment. The assessments shall be levied according to the benefits to be derived by each property within the District. Other payment provisions and enforcement remedies shall be in BD561 (PF) 12 I . accordance with Chapter 16 of Title 10 of Utah Code Annotated 1953, as amended. A map of the proposed District and copies of the preliminary design plans of the proposed improvements and other related information are on file in the office of the City Engineer who will make such information available to all interested persons. TIME FOR FILING PROTESTS Any person who is the owner of record of property to be assessed in the District described in this Notice of Intention shall have the right to file a written protest against the creation of 400 to 500 South Curb and Gutter Extension No. 38- 758 or to make any other objections relating thereto. f := Protests shall describe or otherwise identify the property record by the person or persons making the protest. Protests shall be filed with the City Recorder of Salt Lake City, Utah on or before 5:00 p.m. on the 16th day of January, 1990. Thereafter at 6:00 p.m. on the 16th of January, 1990, the City Council will meet in public meeting at the City Council Chambers to consider all protests so filed and hear all objections related to the proposed Curb and Gutter Extension No. 38-758. The protest rate shall be determined by totaling the front footage of abutting property owners filing written protest and dividing it by the total assessable front footage BD561 (PF) 13 - of all abutting property owners within the proposed District. The result will be a protest rate stated as a percentage for improvements to be assessed by the front foot. After the written protest rate has been determined, the City Council may, at its discretion, delete areas from the District. At the time of creation of the District, the written protests of property owners in any area not included in the District will not be used in determining the protest rate for the property owners remaining within the District. The City Council will rescind its intention to create the District if, after the deletions from the District, the total protest rate by front foot within the modified District boundaries is fifty percent (50%) or more . BY ORDER OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH /s/ Kathryn Marshall City Recorder BD561 (PF) 14 . ®e 0 Section 5 . The City Engineer is hereby authorized to prepare a notice which calls for bids for the construction of improvements contemplated to be made in the Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No. 38-758, and the City Recorder is hereby authorized to publish the Notice to Contractors calling for bids at least one time in the Deseret News, a newspaper of general circulation in Salt Lake City, at least fifteen (15) days before the date specified in the notice for the receipt of bids. Councilmember seconded the motion to adopt the foregoing resolution. The motion and resolution were unanimously adopted on the following recorded vote: 1. Those voting AYE:' W. M. "Willie" Stoler Alan Hardman L. Wayne Horrocks Florence B. Bittner Thomas M. Godfrey Sydney Reed Fonnesbeck Roselyn N. Kirk Those voting NAY: • BD561 (PF) 15 After the conduct of other business not pertinent to the above, the meeting was, on motion duly made and seconded, adjourned. Chair ATTEST: City Recorder ( S E A L ) . F _ BD561 (PF) 16 • 1 - ' . ne- oe . - I ' w„.._ f:.,._.. PRESENTATION TO THE MAYOR• _ ,. , ...::: The foregoing resolution was presented to the Mayor for his approval or disapproval on the day of December, 1989. Chair MAYOR'S APPROVAL OR DISAPPROVAL The foregoing resolution is hereby approved this day of December, 1989. Mayor BD561 (PF) 17 , STATE OF UTAH ) __. _ ss . COUNTY OF SALT LAKE ) I , Kathryn Marshall, the duly chosen, qualified and acting City Recorder of Salt Lake City, Salt Lake County, Utah, do hereby certify as follows: 1. That the foregoing typewritten pages constitute a full, true and correct copy of the record of proceedings of the City Council at a regular meeting thereof held in said Municipality on December 5, 1989 at the hour of 6: 00 p.m. , insofar as said proceedings relate to the consideration and adoption of a resolution declaring the intention of the City Council to create Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No . 38-758 and make certain improvements therein described as the same appears of record in my office; that I personally attended said meeting, and that the proceedings were in fact held as in said minutes specified. 2 . That due, legal and timely notice of said meeting was served upon all members as required by law and the rules and ordinances of said Municipality. 3 . That the above resolution was deposited in my office on December , 1989 , has been recorded by me, and is a part of the permanent records of Salt Lake City, Salt Lake County, Utah. BD561 (PF) 18 (AT Qz2t IN WITNESS WHEREOF, I have hereunto subscribed my (7) official signature and affixed the seal of said Municipality this day of December, 1989 . City Recorder ( SEAL ) BD561 (PF) 19 STATE OF UTAH ) AFFIDAVIT OF MAILING : ss . NOTICE OF INTENTION COUNTY OF SALT LAKE ) I , Kathryn Marshall , the duly chosen, qualified and acting City Recorder of Salt Lake City, Salt Lake County, Utah, do hereby certify that the attached Notice of Intention was approved and adopted in the proceedings of the City Council held on Tuesday, the 5th day of December, 1989 . I further certify that on the day of , 1989 (a date not later than ten ( 10) days after the first publication of the Notice of Intention) I mailed a true copy of the Notice of Intention to create Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No . 38-758 by United States Mail , postage prepaid to each owner of land to be assessed within the proposed Special Improvement District at the last known address of such owner, using for such purpose the names and addresses appearing on the last completed real property assessment rolls of Salt Lake County, and in addition I mailed on the same date a copy of said Notice of Intention addressed to "Owner" addressed to the street number, post office box, rural route number, or other mailing address of each piece of improved property to be affected by the assessment. I further certify that a certified copy of said Notice of Intention together with profiles of the improvements and BD561 (PF) 20 - rto (le- a map of the proposed District, was on file in my office for 0 inspection by any interested parties. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Salt Lake City, Salt Lake County, Utah this day of , 1989 . City Recorder ( S E A L ) BD561 (PF) 21 (Affidavit of proof of -publication of the Notice of Intention to create Salt Lake City, Utah Curb and Gutter Extension Special Improvement District No. 38-758. ) BD561 (PF) 22 CERTIFICATE OF COMPLIANCE WITH OPEN MEETING LAW. I , the• undersigned City Recorder of Salt Lake City, Salt Lake County (the "City Recorder" ) , do hereby certify, according to the records of the City Council 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 December 5, 1989 public meeting held by the City Council as follows: (a) By causing a Notice in the form attached hereto as Exhibit "A" , to be posted at the offices of the Salt Lake City Council on December , 1989, at least twenty-four (24) hours prior to the convening of the meeting, said Notice having continuously remained so posted and available for public inspection • until the completion of the meeting; and (b) By causing a copy of such Notice, in the form attached hereto as Exhibit "A" , to be delivered to the Deseret News on December , 1989, at least twenty-four (24) hours prior to the convening of the meeting. BD561 (PF) 23 IN WITNESS WHEREOF, - - I have- -hereunto subscribed my official signature this day of December, 1989 . City Recorder ( S E A L ) • BD561 (PF) 24