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Thursday, March26,2009 The Lone Tree Reporter Page7
Continued... from page 6
purpose whatsoever. Any amount received by
the County as accrued interest on the Bonds
shall be deposited into such special account
and used to pay interest due on the Bonds on
:the first interest payment date.
Section 9. The interest or principal and both
of them falling due in any year or years shall,
if necessary, be paid promptly from current
available funds of the County in advance of
taxes levied and when the taxes shall have
been collected, reimbursement shall be made
to such current funds in the sum thus ad-
vanced, The County hereby pledges the faith,
credit, revenues and resources and all of the
real and personal property of the County for
the full and prompt payment of the principal
of and interest on the Bonds.
Section 10. It is the intention of the County
that interest on the Bonds be and remain ex-
cluded from gross income for federal income
tax purposes pursuant to the appropriate pro-
visions of the Internal Revenue Code of 1986,
as amended, and the Treasury Regulations in
effect with respect thereto (all of the forego-
ing herein referred to as the "Internal Revenue
Code"). In furtherance thereof, the County
covenants to comply with the provisions of
the Internal Revenue Code as they may from
time to time be in effect or amended and fur-
ther covenants to comply with the applicable
future laws, regulations, published rulings and
court decisions as may be necessary to insure
that the interest on the Bonds will remain ex-
cluded from gross income for federal income
tax purposes. Any and all of the officers of the
County are hereby authorized and directed to
take any and all actions as may be necessary to
comply with the covenants herein contained.
The County hereby designates the Bonds as
"Qualified Tax Exempt Obligations" as that
term is used in Section 265(b)(3)(B) of the
Internal Revenue Code.
Section 11. Continuing Disclosure. The Secu-
rities and Exchange Commission (the "SEC')
has promulgated certain amendments to
Rule 15c2-12 under the Securities Exchange
Act of 1934 (17 C.F.R. § 240.15c2-12) (the
"Rule") that make it unlawful for an under-
writer to participate in the primary offering of
municipal securities in a principal amount of
$1,000,000 or more unless, before submitting
a bid or entering into a purchase contract for
such securities, it has reasonably determined
that the issuer or an obligated person has
undertaken in writing for the benefit of the
holders of such securities to provide certain
disclosure information to prescribed informa-
tion repositories on a continuing basis so long
as such securities are outstanding.
On the date of issuance and delivery of the
Bonds, the County will execute and deliver
a Continuing Disclosure Certificate pursuant
to which the County will undertake to com-
ply with the Rule. The County covenants and
agrees that it will comply with and carry out
the provisions of the Continuing Disclosure
Certificate. Any and all of the officers of the
County are hereby authorized and directed to
take any and all actions as may be necessary
to comply with the Rule and the Continuing
Disclosure Certificate.
Section 12. All resolutions or parts thereof in
conflict herewith are hereby repealed to the
extent of such confii3:L : .
Motion by Sullivan~ second by Harney, to ap-
prove Resolution 03-12-09-02.
RESOLUTION 03-12-09-03
RESOLUTION PROVIDING FOR THE
SALE AND ISSUANCE OF $2,200,000
GENERAL OBLIGATION CONSERVATION
BUILDINGS BONDS, SERIES 2009C
WHEREAS, pursuant to the provisions of Sec-
tion 331.402(3) of the Code of Iowa, Johnson
County, iowa (the "County"), has heretofore
proposed to contract indebtedness and enter
into a loan agreement (the "Loan Agreement")
in the principal amount of $2,200,000 to pro-
vide funds to pay the cost, to that extent, of
constructing County Conservation Buildings,
and has published notice of the proposed ac-
tion and held a hearing thereon; and
WHEREAS, pursuant to advertisement of sale
bids for the purchase of $2,200,000 General
Obligation Conservation Buildings Bonds,
Series 2009C (the "Bonds"), to be issued in
evidence of the County's obligation under the
Loan Agreement, were received and canvassed
on behalf of the County and the substance of
such bids noted in the minutes; and
WHEREAS, upon final consideration of all
bids, the bid of Robert W. Baird & Company,
Incorporated (the "Purchaser") is the best,
such bid proposing the lowest interest cost to
the County;
NOW, THEREFORE, Be It Resolved by the
Board of Supervisors of Johnson County,
Iowa, as follows:
Section 1. The County hereby determines
to enter into the Loan Agreement with the
Purchaser, in substantially the form attached
hereto, providing for a loan to the County in
the principal amount of $2,200,000, for the
purpose set forth in the preamble hereof.
The Chairperson of the Board and the County
Auditor are hereby authorized and directed
to sign the Loan Agreement on behalf of the
County, and the Loan Agreement is hereby
approved.
Section 2. The bid of the Purchaser referred
to in the preamble hereof is hereby accepted,
and the Bonds, dated April 1, 2009, maturing
on June 1 in each of the years in the principal
amounts and bearing interest at the respective
rates as follows:
Interest Rate
Year Principal Amount Per Annum
2010 $270,000 3.00%
2011 $295,000 3.00%
2012 $305,000 3.00%
2013 $315,000 3.00%
2014 $325,000 3.00%
2015 $340,000 3.25%
2016 $350,000 3.50%
are hereby awarded and authorized to be is-
sued to the Purchaser at the price specified in
o such bid, together with accrued interest.
Section 3. The form of agreement of sale
(the "Sale Agreement") of the Bonds to the
Purchaser is hereby approved, and the Chair-
person of the Board and County Auditor are
hereby authorized to execute the Sale Agree-
ment for and on behalfoftbe County.
The County Treasurer is hereby designated as
the Registrar and Paying Agent for the Bonds
and may be hereinafter referred to as the
"Registrar" or the "Paying Agent."
The Bonds are not subject to redemgtion prior
to maturity.
All of the interest on the Bonds shall be principal will be paid when due by the County as joint
payable December 1, 2009, and semiannu- to DTC, then paid by DTC to the Participants
ally thereafter on the first day of June and and thereafter paid by the Participants to the JT TEN- t e n a n t s (Minor)
with right
December in each year. Payment of interest Beneficial Owners. of
on the Bonds shall be made to the registered Section 5. The Bonds shall be in substantially
owners appearing on the registration hooks the following form: survivor- .
of the County at the close of business on the (Form of Bond) ,. ,under Umform Trans-
stop anUfers to Minors Act
fifteenth day of the month next preceding the UNITED STATES OF AMERICA not as
interest payment date and shall be paid by STATE OF IOWA JOHNSON COUNTY tenants in
check or draft mailed to the registered own- GENERAL OBLIGATION CONSERVATION common
ers at the addresses shown on such registration BUILDINGS BOND, SERIES 2009C
(State)
books. Principal of the Bonds shall be pay- No. $
able in lawful money oftbe United States of Additional abbreviations may also be used
America to the registered owners or their legal M AT U R I T YB O N D though not in the list above.
representatives upon presentation and surren- RATE DATE DATE CUSIP ASSIGNMENT
For valuable consideration, receipt of which
der of the Bond or Bonds at the office of the AprilI, is hereby acknowledged, the undersigned as-
Paying Agent. % June 1, 2009 signs this Bond to
The Bonds shall be executed on behalf of the Johnson County (the---;'County"), in the State
County with the official manual or facsimile of Iowa, for value received, promises to pay
signature of the Chairperson of the Board and on the maturity date of this Bond to
attested with the official manual or facsimile Cede & Co. (Please print or type name and address of As-
signature of the County Auditor and shall New York, New York siguee)
have the County's seal impressed or printed or registered assigns, the principal sum of
thereon, and shall be fully registered Bonds THOUSAND DOLLARS
PLEASE INSERT SOCIAL SECURITY OR
without interest coupons. In case any officer in lawful money of the United States of OTHER
whose signature or the facsimile ofwbose sig- America upon presentation and surrender of IDENTIFYING NUMBER OF ASSIGNEE
nature appears on the Bonds shall cease to be this Bond at the office of the Johnson County and does hereby irrevocably appoint
such officer before the delivery of the Bonds, Treasurer, Iowa City, Iowa (hereinafter re-, Attorney, to transfer this Bond
such signature or such facsimile signature ferred to as the "Registrar" or the "Paying on the books kept for registration therenfwith
shall nevertheless be valid and sufficient for Agent"), with interest on said sum, until paid, full power of substitution.
all purposes, the same as if such officer had at the rate per annum specified above from the Dated:
remained in office until delivery, date of this Bond, or from the most recent in-
The Bonds shall not be valid or become oblig- terest payment date on which interest has been Signature guaranteed:
atory for any purpose until the Certificate of paid, on June ! and December 1 of each year, (Signature guarantee must be provided in
Authentication thereon shall have been signed commencing December 1, 2009, except as the accordance with the prevailing standards
by the Registrar. provisions hereinafter set forth with respect and procedures of the Registrar and Transfer
The Bonds shall be fully registered as to In'in- to redemption prior to maturity may be or be- Agent. Such standards and procedures may
cipal and interest in the names of the owners come applicable hereto. Interest on this Bond require signatures to be guaranteed by cer-
on the registration books of the County kept is payable to the registered owner appearing tain eligible guarantor institutions that par-
by the Registrar, and after such registration, on the registration books of the County at ticipate in a recognized signature guarantee
payment of the principal thereof and interest the close of business on the fifteenth day of program.)
thereon shall be made only to the registered the month next preceding the interest pay-
owners or their legal representatives or as- ment date, and shall be paid by check or draft
signs. Each Bond shall be transferable without mailed to the registered owner at the address NOTICE: The signature to this Assignment
cost to the registered owner thereof only upon shown on such registration books, must correspond with the name of the regis-
the registration books of the County upon pre- This Bond shall not be valid or become oblig- tered owner as it appears on this Bond in every
sentation to the Registrar, together with either atory for any purpose until the Certificate of particular, without alteration or enlargement
a written instrument of transfer satisfactory to Authentication hereon shall have been signed or any change whatever.
the Registrar or the assignment form thereon by the Registrar. , Section 6. The Bonds shall be executed as
completed and duly executed by the registered This Bond is one of a series of Bonds (the herein provided as soon after the adoption of
owner or the duly authorized attorney for such "Bonds") issued by the County to evidence its this resolution as may be possible and there-
registered owner, obligation under a certain Loan Agreement, upon shall be delivered to the Registrar for
The record and identity of the owners of the dated as of April 1, 2009 (the "Loan Agree- registration, authentication and delivery to
Bonds shall be kept confidential as provided ment"), entered into by the County for the
by Section 22.7 of the Code of Iowa. purpose of providing funds to pay a portion of or upon the direction of the Purchaser, upon
receipt of the loan proceeds, and all action
Section 4. Notwithstanding anything above to the cost of constructing County Conservation heretofore taken in connection with the Loan
the contrary, the Bonds shall be issued initially Buildings. Agreement and the sale of the Bonds is hereby
as Depository Bonds, with one fully regis- The Bonds are issued pursuant to and in strict ratified and confirmed in all respects.
tered Bond for each maturity date, in princi- compliance with the provisions of Section
Section 7. For the purpose of providing for the
pal amounts equal to the amount of principal 331.402(3) of the Code of Iowa, 2007, and levy and collection era direct annual tax suf-
maturing on each such date, and registered in all other laws amendatory thereof and supple- ficient to pay the principal of and interest on
the name of Cede & Co., as nominee for The mental thereto, and in conformity with a reso- the Bonds as the same becomes due, there is
Depository Trust Company, New York, New lution of the County Board of Supervisors au- hereby ordered levied on all the taxable prop-
York ("DTC"). On original issue, the Bonds thorizing and approving the Loan Agreement erty in the County in each of the years while
shall be deposited with DTC for the purpose and providing for the issuance and securing the Bonds are outstanding, a tax sufficient for
of maintaining a book-entry system for record- the payment of the Bonds (the "Resolution"), that purpose, and in furtherance of this pro-
ing the ownership interests of its participants and reference is hereby made to the Resolu- vision, but not in limitation thereof, there is
and the transfer of those interests among its tion and the Loan Agreement for a more com- hereby levied on all the taxable property in the
participants (the "Participants"). In the event plete statement as to the soure~ of payment County the following direct annual tax for col-
that DTC determines not to continue to act of the Bonds and the rights of the owners of lection in each of the following fiscal years:
as securities depository for the Bonds or the the Bonds. For collection in the fiscal year beginning July
County determines not to continue the book- The Bonds are not subject to redemption prior 1, 2009,
entry system for recording ownership inter- to maturity.
ests in the Bonds with DTC, the County will This Bond is fully negotiable but shall be sufficient to produce the net annual sum of
$334,550.00;
discontinue the bunk-entry system with DTC. fully registered as to both principal and inter- For collection in the fiscal year beginning July
If the County does not select another quail- est in the name of the owner on the books of
l, 2010, ......
fled securities depository to replace DTC (or the County in the office of the Registrar, after sufficient to produce the net annual sum of
a successor depository) in order to cuntinue which no transfer shall be valid unless made $351,075.00;
a book-entry system, the County will register on said books and then only upon presentation For collection in the fiscal year beginning July
and deliver replacement Bonds in the form of of this Bond to the Registrar, together with el- 1, 2011,
fully registered certificates, in authorized de- thera written instrument of transfer satisfac-
sufficient to produce the net annual sum of
nominations of $5,000 or integral multiples of tory to the Registrar or the assignment form
$352,075.00;
$5,000, in accordance with instructions from hereon completed and duly executed by the
Cede & Co., as nominee for DTC. In the event registered owner or the duly authorized attor- For collection in the fiscal year beginning July
1, 2012,
that the County identifies a qualified securities ney for such registered owner, sufficient to produce the net annual sum of
depository to replace DTC, the County will The County, the Registrar and the Paying $352,775.00;
register and deliver replacement Bonds, fully Agent may deem and treat the registered For collection in the fiscal year beginningJuly
registered in the name of such depository, or owner hereof as the absolute owner for the 1, 2013,
its nominee, in the denominations as set forth purpose of receiving payment of or on account sufficient to produce the net annual sum of
above, as reduced from time to time prior to of principal hereof, premium, if any, and in- $353,175.00;
maturity in connection with redemptions or terest due hereon and for all other purposes, For collection in the fiscal year beginning July
retirements by call or payment, and in such and the County, the Registrar and the Paying 1, 2014,
event, such depository will then maintain the Agent shall not be affected by any notice to sufficient to produce the net annual sum of
book-entry system for recording ownership the contrary. $357,775.00;
interests in the Bonds. And It Is Hereby Certified and Recited that For collection in the fiscal year beginning July
Ownership interests in the Bonds may be all acts, conditions and things required by the 1, 2015,
purchased by or through Participants. Such laws and Constitution of the State of Iowa, to sufficient to produce the net annual sum of
Participants and the persons for whom they exist, tube had, tube done or to be performed $356,125.00.
acquire interests in the Bonds as nominees precedent to and in the issue .of this Bond Section 8. A certified copy of this resolution
will not receive certificated Bonds, but each were and have been properly existent, had, shall be filed with the County Auditor, and the
such Participant will receive a credit balance done and performed in regular and due form Auditor is hereby instructed to enter for col-
in the records of DTC in the amount of such and time; that provision has been made for the lection and assess the tax hereby authorized.
Participant's interest in the Bonds, which will levy of a sufficient continuing annual tax on When annually entering such taxes for col-
be confirmed in accordance with DTC's start- all the taxable property within the County for lection, the County Auditor shall include the
dard procedures. Each such person for which the payment of the principal of and interest same as a part of the tax levy for Debt Ser-
a Participant has an interest in the Bonds, as on this Bond as the same will respectively be- vice Fund purposes of the County and when
nominee, may desire to make arrangements come due; that the faith, credit, revenues and collected, the proceeds of the taxes shall be
with such Participant to have all notices of resources and all the real and personal prop- converted into the Debt Service Fund of the
redemption or other communications of the erty of the County are irrevocably pledged for County and set aside therein as a special ac-
County to DTC, which may affect such per- the prompt payment hereof, both principal and count to be used solely and only for the pay-
son, forwarded in writing by such Participant interest; and that the total indebtedness of the ment of the principal of and interest on the
and to have notification made of all interest County, including this Bond, does not exceed Bonds hereby authorized and for no other
payments, any constitutional or statutory limitations, purpose whatsoever. Any amount received by
The County will have no responsibility or IN TESTIMONY WHEREOF, Johnson the County as accrued interest on the Bonds
obligation to such Participants or the pexsons County, Iowa, hy its Board of Supervisors, shall be deposited into such special account
for whom they act as nominees with respect has caused this Bond to be sealed with the and used to pay interest due on the Bonds on
to payment to or providing of notice for such facsimile of its official seal, to be executed the first interest payment date.
Participants or the persons for whom they act with the duly authorized facsimile aiguature Section 9. The interest or principal and both
as nominees, of its Chairperson and attested with the duly of them falling due in any year or years shall,
As used herein, the term "Beneficial Owner" authorized facsimile signature of its County if necessary, be paid promptly from current
shall hereinafter be deemed to include the Auditor, all as of April 1, 2009.
available funds of the County in advance of
person for whom the Participant acquires an JOHNSON COUNTY, IOWA taxes levied and when the taxes shall have
interest in the Bonds. . By (DO NOT SIGN). been collected, reimbursement shall be made
DTC will receive payments from the County, Chairperson, Board of Supervisers to such current funds in the sum thus ad-
to be remitted by DTC to the Participants for Attest: vanced: The County hereby pledges the faith,
subsequent disbursement to the Beneficial (DO NOT SIGN) credit, revenues and resources and all of the
Owners. The ownership interest of each Ben- County Auditor real and personal property of the County for
eficial Owner in the Bonds will be recorded (Seal)
on the records of the Participants whose own- Registration Date: (Registration Date) the full and prompt payment of the principal
of and interest on the Bonds.
ership interest willhe recordedon a computer- REGISTRAR'S CERTIFICATE OF AU- Section 10. It is the intention of the County
ized book-entry system kept by DTC. THENTICATION that interest on the Bonds be and remain ex-
When reference is made to any action which is This Bond is one of the Bonds described in the eluded from gross income for federal income
required or permitted to be taken by the Bene- within-mentioned resolution.
ficial Owners, such reference shall only relate By (DO NOT SIGN) tax purposes pursuant to the appropriate pro-
visions of the Internal Revenue Code of 1986,
to those permitted to act (by statute, regula- Johnson County Treasurer as amended, and the Treasury Regulations in
tion or otherwise) on behalf of such Benefi- ABBREVIATIONS effect with respect thereto (all of the foregn-
cial Owners for such purposes. When notices The following abbreviations, when used in ing herein referred to as the "Internal Revenue
are given, they shall be sent by the County to this Bond, shall be construed as though they Code"). In furtherance thereof, the County
DTC, and DTC shall forward (or cause to be were written out in full according to appli- covenants to comply with the provisions of
forwarded) the notices to the Participants so cable laws or regulations: the Internal Revenue Code as they may from
that the Participants can forward the same to
the Beneficial Owners. as tenants UTMA time to time be in effect or amended aad fur-
Beneficial Owners will receive written con- TEN COM- in corn- ther covenants to comply with the applicable
firmatiuns of their purchases from the Partici- mon future laws, regulations, published rulings and
court decisions as may be necessary to insure
pants acting on behalf of the Beneficial Own- as tenants
ers detailing the terms of the Bonds acquired. TEN ENT- by the en- (Custodian)that the interest on the Bonds will remain ex-
Transfers of ownership interests in the Bonds tireties eluded from gross income for federal income
tax purposes. Any and all of the officers of the
will be accomplished by book entries made by As Custodian for County are hereby authorized and directed to
DTC and the Participants who act on behalf
of the Beneficial Owners. Beneficial Own- take anyand all actions as may be necessary to
comply with the covenants herein contained.
ers will not receive certificates representing
their ownership interest in the Bonds, except The County hereby designates the Bonds as
as specifically provided herein. Interest and "Qualified Tax Exempt Obligations" as that
term is used in Section 265(b)(3)(B) of the
Intemal Revenue Code.
Section 11. Cominuing Disclosure. The Secu- MARCH 16, 2009
rities and Exchange Commission (the "SEC') Published in the Lone Tree Reporter
has promulgated certain amendments to Thursday, March 26, 2009. L-40
Rule 15c2-12 under the Securities Exchange
Act of 1934 (17 C.F.R. § 240.15c2-12) (the
"Rule") that make it unlawful for an under-
writer to participate in the primary offering of Mayor Slaughter celled to order at 6:34
municipal securities in a principal amount of PM the regular meeting of the Lone
$1,000,000 or more unless, before submitting Tree City Council with all present. Oth-
a bid or entering into a purchase contract for ers attending: Merry Thomae, Mike Hart,
such securities, it has reasonably determined Brad Judge, Karen Forbes, Gin Spears,
that the issuer or an obligated person has Ed Eden, Todd Comer, Jim Bopp, Lori
undertaken in writing for the benefit of the Freese, Jeff Lihs.
holders of such securities to provide certain K. Brown, Lemley moved to open the
disclosure information to prescribed informa- Public Hearing for the 2009 DeVoe Street
tion repositories on a continuing basis so long Project. CARRIED 6:35 PM. K. Brown
as such securities are outstanding, read a statement of concerns from Duane
On the date of issuance and delivery of the Lewis. Various citizens yoiced opinions
Bonds, the County will execme and deliver about the proposed project. Lemley, S.
a Continuing Disclosure Certificate pursuant Brown moved to close the public hear-
to which the County will undertake to corn- ing. CARRIED 6:58 PM. Ogren, K. Brown
ply with the Rule. The County covenants and moved to go with the DeVoe Street origi-
agrees that it will comply with and carry out hal plan with green space but to eliminate
the provisions of the Continuing Disclosure the concrete wall/planter. CARRIED with
Certificate. Any and all of the officers of the roll call vote of all Ayes.
County are hereby authorized and directed to K. Brown, Lemley moved to set April 6th
take any and all actions as may be necessary for the Public Hearing on the FY 2010
to comply with the Rule and the Continuing Budget Estimate. CARRIED.
Disclosure Certificate. Mike Hart will contact Action Sewer about
Section 12. All resolutions or parts thereof in televising the storm sewers on DeVoe.
conflict herewith are hereby repealed to the K. Brown, Larsen moved lo adjourn the
extent of such conflict, meeting. CARRIED.
Motion by Sullivan, second by Stutsman, to Mayor Slaughter declared the meeting
approve Resolution 03-12-09-03. adjourned at 7:05 PM.
RESOLUTION 03-12-09-04
NAMING DEPOSITORIES
Whereas, the Johnson County Board of Su-
pervisors in Johnson County, Iowa approves
the list of financial institutions to be deposi- ELDON E. SLAUGHTER, MAYOR
tories of Johnson County funds and specifies
the maximum amount which may be kept on
deposit in each depository, in conformance ATTEST
with Code of Iowa, section 12C.2, Deposit of MERRY THOMAE, CITY CLERK
Public Funds, Approval-requirements; and submitted for publication 03-17-09
whereas, this resolution amends Resolution
05-22-08-B1; Published in the Lone Tree Reporter
Therefore be it resolved that the following Thursday, Mamh 26, 2009. L- 59
depositories and maximum deposit balances
be approved:
Auditor: US Bank, Iowa City $750,000
Public Health: Hills Bank & Trust, Hills In The Iowa District Court
$20,000 For Muscatine County
Recorder: Hills Bank & Trust, Hills
$500,000 VIRGIL CHAPMAN and DARREL R.
SEATS: Farmers & Merchants Savings Bank, BELL, as Directors and Shareholders in
Lone Tree $400; Hills Bank & Trust, Hills Southeastern Iowa Agricultural Coopera-
$250,000; Solon State Bank, Solon $400 tive, Plaintiffs,
Sheriff: Hills Bank & Trust, Hills $5,000,000; vs.
West Bank, Iowa City $10,000 SOUTHEASTERN IOWAAGRICOLTOR-
Treasurer: Bank of America, Des Moines AL COOPERATIVE, Defendant.
40,000,000; Farmers & Merchants Savings
Bank, Lone Tree $500,000; First Trust & Say- No. EQCV 018564
ings Bank, Oxford $500,000; Freedom Secu- NOTICE OF HEARIING ON APPLICA-
rity Bank, Coralville $9,000,000; Hills Bank TION FOR APPOINTMENT OF RE-
& Trust, Hills $100,000,000; Midwest One CEIVER
Bank, Iowa City $20,000,000; Liberty Bank, TO" Shareholders of Southeastern
Iowa City $500,000; Solon State Bank, Solon Iowa Agricultural Cooperative
$500,000; Swisher Trust & Savings Bank, You and each of you are hereby noti-
Swisher $500,000; University oflowa Com- fled that a Petition for Dissolultion and
munity Credit Union, Iowa City $500,000; Liquidation of Cooperative is now on file
US Bank, Iowa City $10,000,000; Wells asking that the Court take full jurisdic-
Fargo Bank, Coralville $500,000; West Bank, tion of all assets, rights and affairs of the
Iowa City $500,000; First American Bank, Southeastern Iowa Agricultural Coopera-
Iowa City $12,000,000 tire, asking that the assets be liquidated
Motion by Hamey, second by Stutsman, to ap- and distributed under the Court's supervi-
prove Resolution 03-12=09=04. Sion.
Motion by Stutsman, second by Sullivan, to In said action an Application for Ap.
appoint Pat Harney as Chair of the Justice pointment of Receiver is now on file in
Center Coordinating Committee and R. Sul- the Office of the Clerk of the Iowa District
livan to serve as the other member from the Court, in the above named County and
Board; Sally Stutsman to the Alternatives and shall come on for hearing at 9:30 a.m.
Treatments Subcommittee; Pat Haruey and on April 27, 2009, in the courtroom of the
Larry Meyers to the Facilities Subcommittee; Muscetine County Courthouse in Musce-
Neuzil to the Public Information/Outreach tine, Iowa. The Application prays that the
Subcommittee; and R. Sullivan to the Fund- Court appoint Community Bank as receiv-
ing/Grants Sub-Committee. er and authorize the receiver to ratify any
Motion by Stutsman, second by Meyers, to rental agreement and liquidate the assets
approve and authorize the Chairperson to and present a plan for distribution of the
send Dave Purdy a letter of appreciation and proceeds to include satisfaction of tax ob-
certificate for serving on the Johnson County ligations, compensation of the receiver,
SEATS Paratransit Advisory Committee. compensation of legal counsel and pay-
Motion by Stutsman, second by Sullivan, to menl of remaining funds to shareholders.
approve and authorize the Chairperson to sign You are further notified that you may
anApplicatiun for Fireworks Permit forAndy file your objections thereto in writing, if
Neuzil, Hills, for display at River Junction, any, on or before the 21st day of April,
Lone Tree, on April 25, 2009. 2009, with the Clerk of the Iowa District
Adjourned to Informal meeting at 6:35 p.m. Court in the Courthouse at Muscetine, in
/s/Larry Meyers, Vice-Chair, Board of Super- Muscetirle County, Iowa; and unless you
visors do so file your objections in writing you will
be forever barred from making any objec-
tions thereto.
Dated this 9th day of Mamh, 2009.
Attest: Tom Slockett, Auditor
By Nancy Tomkovicz, Recording Secretary
These minutes were sent for publication and
formal approval on March 19, 2009.
Published in the Lone Tree Reporter
Thursday, March 26, 2009. L- 2695
Is/Steven A. Sents AT0007052
Newell & Sents Law Office
213 Main St., P.O. Box 188
Columbus Junction, IA 52738
319-728-2426, FAX 319-728-7503
Attorney for Directors
• he::, ne terq
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