|
PROCEEDINGS OF THE BEADLE COUNTY COMMISSION
AUGUST 15, 2006
The Board of Beadle County Commissioners met Tuesday – August 15, 2006 at 1:00 a.m., pursuant to adjournment of August 8, 2006 with members present: Chairman Mattke, Vice Chairman Chase and Dahl. Absent: Marcus and Ziegeldorf.
The minutes of August 8, 2006 were approved as read with no additions or changes.
Moved by Chase, seconded by Dahl. Motion carried. To approve bid of Sheehan Mack Sales & Equipment for (1) 2007 Volvo G940 Motorgrader with trade in (1) 2004 Volvo G720B Motorgrader SN 36343 net price $72,549.00 with 5 years 8000 hour full machine warranty price included in bid. Options approved: 11 speed transmission Add $2,150.00 and Low Profile Cab deduct $798.00 (outright price $173,549.00, less trade in $101,000.00, net $72,549.00 plus option transmission plus $2,150.00, deduct low profile cab $798.00 total price $73,901.00)
Moved by Chase, seconded by Dahl. Motion carried. To adopt the following resolution:
RESOLUTION 08-09-06
“PROVIDING FOR THE CREATION OF TAX INCREMENT DISTRICT
NUMBER THREE – DAKOTA TURKEY GROWERS OUTLOT 3”
WHEREAS, the Planning Commission has submitted the proposed boundaries and a proposed project plan for Tax Incremental District Number Three, County of Beadle.
WHEREAS, the Beadle County has the power, pursuant to SDCL 11-9 (the “Act”), to create the Tax Incremental District Number Three, County of Beadle and define its boundaries and approve a project plan.
THEREFORE, IT IS HEREBY RESOLVED:
1. Authority and Declaration of Necessity. The County declares the necessity for the creation of the Tax Incremental District Number Three, County of Beadle pursuant to SDCL 11-9. Further, the County finds that the improvement of the area is likely to enhance significantly the value of substantially all of the other real property in the District and is necessary for economic development within the county.
2. Findings of Blight. The Commission makes the following findings with regard to blight.
a. More than 25% of the property in the District is a blighted area;
b. Improvements to the District are likely to add millions of dollars assessed valuation to the district and will significantly and substantially enhance the value of all property in the district;
c. There is a reasonable likelihood that there will be new businesses locating within the district.
d. The aggregate assessed value of the District plus the Tax Incremental base of all other existing districts in the County does not exceed ten percent of the total assessed valuation in the County.
e. The District lacks water connections which substantially impairs the sound growth of the District.
f. The District lacks sewerage connections or treatment which substantially arrests the sound growth of the District.
g. The District lacks streets, roads and rail sufficient to transport products.
h. The District constitutes a blighted area as defined in SDCL 11-9.
3. Findings of Maximum Percentage of Tax Incremental Districts. The aggregate assessed value of the taxable property in the District, plus all other tax incremental districts, does not exceed ten percent of the total assessed valuation of the County.
4. Creation of District. There is hereby created, pursuant to SDCL 11-9 the Tax Incremental District Number Three, County of Beadle (the “District”). The District is hereby created on the day this resolution becomes effective which shall be twenty days after publication.
5. Designation of District boundaries. The District shall have boundaries which shall included the following described real property:
DAKOTA TURKEY GROWERS OUTLOT 3, A PART OF THE NE ¼ OF SECTION 4, T110N, R61W OF THE 5TH P.M., CUSTER TOWNSHIP, BEADLE COUNTY, SOUTH DAKOTA.
6. Findings and Approval of Plan. A hearing by the Planning Commission concerning the creation and boundaries of the District was held on August 9, 2006. The County finds that the plan is feasible and in conformity with the master plan of the County. Pursuant to SDCL 11-9-17, the County hereby approves and adopts the project plan as submitted by the Planning commission.
7. Creation of Tax Incremental Fund. There is hereby created, pursuant to SDCL 11-9-31, a Beadle County Tax Incremental District Number Three Fund. All tax Increments collected pursuant to Tax Incremental District Number Three shall be deposited into the Tax Incremental District Number Three Fund. All funds in the Tax Incremental District Number Three Fund shall be used solely for those purposes expressly stated and reasonably inferred in SDCL 11-9.
Moved by Chase, seconded by Dahl. Motion carried. To adopt the following resolution:
RESOLUTION 08-10-06
RESOLUTION GIVING APPROVAL TO THE ISSUANCE AND SALE OF TAX INCREMENTAL REVENUE BONDS IN AN AMOUNT NOT TO EXCEED $400,000 TO FINANCE TAX INCREMENT PROJECT COSTS, AUTHORIZING THE EXECUTION OF RELATED DOCUMENTS AND DECLARING OFFICIAL INTENT TO REIMBURSE
NOW, THEREFORE, BE IT RESOLVED by the County Commission of the County of Beadle as follows:
1. Declaration of Necessity. The County of Beadle (the "County") find and declares a necessity to issue tax increment revenue bonds in connection with Tax Increment District Number 3 and use the proceeds therewith to pay for project costs as listed in the tax increment plan (the "Project") which Project has been approved and copies of plans are on file with the County Auditor open to public inspection.
2. Authority. The County is authorized to issue its tax increment revenue bonds to finance project costs pursuant to Section 11-9-33 of the South Dakota Codified Laws. Pursuant to Chapter 11-9 of the South Dakota Codified Laws (the "Act") the County proposes to issue municipal tax incremental revenue bonds (as herein authorized, the Tax Incremental Revenue Bonds, or the "Bonds") to finance a portion of the Project costs. The County is authorized by the Tax Incremental Act to pledge a special fund into which the County will deposit the tax increment (as defined by the Act).
3. Pledge of State of South Dakota. Pursuant to SDCL 11-9-39.1, the state of South Dakota does pledge to and agree with the holders of any obligations issued under 11-9 that the state will not alter the rights vested in the bond holders until such bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.
4. Authorization to issue the Bonds. The County does hereby authorize the issuance of the tax increment revenue bonds in an amount not to exceed $400,000 (the “Bonds”) in one or more series upon such terms and in such amounts as are negotiated with the purchaser of the Bonds.
5. Negotiation and Sale of the Bonds. It is hereby determined to be necessary and in the best interests of the County and its inhabitants that this County Commission authorize, issue and sell the Bonds (the “Bonds”) in order to finance a portion of the cost of the Project. The Chairman and County Auditor are authorized to negotiate the sale and terms of the Bonds subject to the limitations of the law and this resolution.
6. No Election Required. The Bonds may be issued by the County without an election pursuant to SDCL §11-09-34.
7. Form of Bonds. The Bonds shall be prepared in substantially the form as filed with the County Auditor and open to public inspection.
7.1. Terms of Bonds. The County Commission hereby authorizes the issuance of the Bonds. The principal amount of the Bonds shall not exceed any statutory or constitutional debt limitation and be in such amounts as will be retired with the tax increment revenues. The Bonds shall have maturities and interest rates as negotiated by the Chairman and County Auditor. The Bonds shall be prepared under the direction of the County Auditor and shall be executed on behalf of the County by the facsimile or manual signatures of the Chairman and the County Auditor and countersigned by the facsimile or manual signature of an attorney actually residing in the State of South Dakota and duly licensed to practice therein.
8. Registration. The County hereby appoints its County Auditor as paying agent, registrar and transfer agent (the "Registrar") for the Bonds. The County reserves the right to appoint a financial institution as Registrar upon thirty (30) days’ notice. The effect of registration and the rights and duties of the County and the Registrar with respect thereto shall be as follows:
8.1.1. Register. The Registrar shall keep at its office a register (the "Register") in which the Registrar shall provide for the registration of ownership of the Bonds and the registration of transfers and exchanges of the Bonds entitled to be registered, transferred or exchanged.
8.1.2. Transfer of Bonds. When a Bond is surrendered for transfer it shall be duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer in form satisfactory to the Registrar; duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner thereof. If the Bond is properly surrendered as provided above, the Registrar shall authenticate and deliver, in the name of the designated transferee, a new Bond of a like aggregate principal amount and maturity. The Registrar may, however, close the books for registration of any transfer after the fifteenth day of the month preceding each interest payment date and until such interest payment date.
8.1.3. Exchange of Bonds. Whenever a Bond is surrendered by the registered owner for exchange the Registrar shall authenticate and deliver the new Bond of a like aggregate principal amount and maturity, as required by the registered owner or the owner's attorney in writing.
8.1.4. Cancellation. All Bonds surrendered upon any transfer or exchange shall be promptly canceled by the Registrar and thereafter disposed of as directed by the County.
Improper or Unauthorized Transfer. When any Bond is presented the Registrar may refuse to transfer the same until satisfied that the endorsement on such Bond or separate instrument of transfer is valid and genuine and that the requested transfer is legally authorized. The Registrar shall incur no liability for the refusal, in good faith, to make transfer which, in their judgment, are deemed improper or unauthorized.
8.1.5. Persons Deemed Owners. The County, Paying Agent and Registrar may treat the person whose name on any Bond is at any time registered in the Register 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 all such payments so made to any such registered owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid.
8.1.6. Taxes, Fees and Charges. For every transfer or exchange of Bond, the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or other governmental charge required to be paid with respect to such transfer or exchange.
8.1.7. Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall become mutilated or be destroyed, stolen or lost, the Registrar shall deliver a new Bond of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of any such mutilated Bond or in lieu of and in substitution for any such Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory that such Bond was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance and amount satisfactory to the Registrar, in which the County and the Registrar shall be named as obligees. All Bonds so surrendered to the Registrar shall be canceled by him and evidence of such cancellation shall be given to the County. If the mutilated, destroyed, stolen or lost certificate has already matured or has been called for redemption in accordance with its terms it shall not be necessary to issue a new Bond prior to payment.
9. Security Provisions; Funds and Accounts and Other Covenants and Determinations.
9.1. Pledge Tax Increments. Pursuant to the Act, the County shall receive Tax Increments as defined by the Act. All Tax Increments shall be placed in the Tax Incremental Revenue Bond Fund Number 3 (the “Bond Fund”). The Bond Fund is irrevocably pledged and appropriated to, and shall be deposited to the Bond Fund. For purposes of this Resolution, "Outstanding Bonds" shall mean these Bonds and any parity lien bonds herebefore or hereafter issued pursuant to this Resolution. The Bond Fund shall be used and applied only in the manner and order hereinafter set forth. The holders of the Outstanding Bonds shall have a lien against the Bond Fund for payment of the principal and interest and may either at law or in equity protect and enforce the lien.
9.2. Bond Fund. The County Auditor is hereby authorized and directed to establish and shall maintain a special account, the Bond Fund, as a separate and special fund in the financial records of the County until all Bonds issued and made payable therefrom, and interest due thereon, have been duly paid or discharged. All collections of the Tax Increments, as hereinafter defined, shall be credited, as received, to the Bond Fund. Within the Bond Fund are various separate accounts to be maintained by the County.
9.2.1. Project Account. There is hereby created and established as an account of the Bond Fund, a "Project Account". There shall be credited to the Project Account the proceeds from the sale of the Bonds remaining after payment of the expenses of issuing the Bonds. All moneys credited to the Project Account shall be applied solely to the payment of the costs of the Project. For the purposes of this Resolution, "costs of the Project" shall include costs of acquiring, construction, and installing the Project including cost of labor, services, materials and supplies, financial, architectural, engineering, legal, accounting and other professional expenses relating to the Project, the costs of acquisition or properties, rights, easements, or other interest in properties, insurance premiums, and the costs of publishing, posting or mailing notices in connection with the Project. All sums derived from the investment of moneys in the Project Account shall remain in and become part of such account. Upon completion of the Project and when all costs of the Project have been paid, any balance remaining in the Project Account shall be credited to the Principal and Interest Account hereinafter established.
9.2.2. Principal and Interest Account. There is hereby created and established as an account of the Bond Fund, a "Principal and Interest Account." Immediately upon delivery of the Bonds, there shall be credited to the Principal and Interest Account the amount of any accrued interest received from the Purchaser. Periodically, as needed there shall be withdrawn from the Bond Fund Number 3 and credited to the Principal and Interest Account an amount which will equal at least the next principal and interest payment. In all events there shall be credited to the Principal and Interest Account amounts sufficient to pay the principal of and interest on the Outstanding Bonds as the same become due.
9.2.3. Subordinate Lien Bonds. After making the above required payments, any remaining Tax Increment shall be used for the payment of the principal of and interest on any additional Tax Incremental revenue bonds having a lien which is subordinate to the lien of the Outstanding Bonds, and for a reserve fund as additional security for the payment of such subordinate lien bonds.
9.2.4. Deposit and Investment of Funds. The County Auditor shall cause all moneys pertaining to the Fund to be deposited as received with one or more banks which are duly qualified public depositories under the provisions of Chapter 4-6A, South Dakota Codified Laws, in a deposit account or accounts, which shall be maintained separate and apart from all other accounts of the County, so long as any of the Bonds and the interest thereon shall remain unpaid. Any of such moneys not necessary for immediate use may be deposited with such depository banks in savings or time deposits. No moneys shall at any time be withdrawn from such deposit accounts except for the purposes of the Fund as authorized in this Resolution; except that moneys from time to time on hand in the Fund may at any time, in the discretion of this Council, be invested in securities permitted by the provisions of Section 4-5-6, South Dakota Codified Laws, maturing and bearing interest at the times and in the amounts estimated to be required to provide cash when needed for the purposes of the respective accounts. Income received from the deposit or investment of moneys shall be credited to the account from whose moneys the deposit was made or the investment was purchased, and handled and accounted for in the same manner as other moneys in that account.
9.3. Defeasance. When all the Bonds issued have been discharged as provided in this section, all pledges, covenants, and other rights granted by this resolution to the registered owners of the Bonds shall cease. The County may discharge its obligations with respect to any Bonds which are due on any date by providing to the Paying Agent on or before that date a sum sufficient for the payment thereof in full; or, if any Bond should not be paid when due, it may nevertheless be discharged by providing to the Paying Agent a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The County may also discharge its liability with reference to all Bonds which are called for redemption on any date in accordance with their terms by depositing funds with the Paying Agent on or before that date in accordance with their terms by depositing funds with the Paying Agent on or before that date, in an amount equal to the principal, interest, and premium, if any, which are then due thereon, provided that notice of such redemption has been duly given. The County may also at any time discharge this issue of Bonds in its entirety, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a bank qualified by law as an escrow agent for this purpose, cash or United States government obligations which are authorized by law to be so deposited, bearing interest payable at such times and at such rates and maturing on such dates as shall be required to provide funds (without an reinvestment) sufficient to pay all principal, interest and premiums, if any, to become due on all Bonds on and before maturity, or, if a Bond has been duly called for redemption, on or before the designated redemption date.
10. Certification of Proceedings. The officers of the County are authorized and directed to prepare and furnish to the purchasers of the Bonds certified copies of all proceedings and records of the County relating to the authorization and issuance of the Bonds and such other affidavits and certificates as may reasonably be required to show the facts relating to the legality and marketability of the Bonds as such facts appear from the officer's books and records or are otherwise known to them. All such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the County as to the correctness of the facts recited therein and the action stated therein to have been taken. The County does hereby declare its official intent to reimburse the capital expenditures made with respect to the Project with proceeds of the Bonds.
Moved by Dahl, seconded by Chase. Motion carried. To approve variance request of Doug & Theresa Bell to construct a 7’x31’ addition to Westside of cabin. It would be 2 feet from property line where code requires 7 feet. (Lot 19 Paul J Gross Addition to Lake Byron)
Moved by Chase, seconded by Dahl. Motion carried. To adopt the following resolution:
RESOLUTION 08-02-06
“PLAT OF KRUTZFELDT LOT 1, A PART
OF THE NW4 OF SECTION 13-111-63”
On recommendation of the Beadle County Planning Commission: BE IT RESOLVED: by the Board of Beadle County Commissioners that the plat of “Krutzfeldt Lot 1, a part of the NW4 of Section 13-111-63”, West of the 5th P.M.,
Beadle County, South Dakota, as described above and drawn hereon be approved and accepted and the Auditor hereby is instructed to endorse on such plat a copy of this resolution and to certify the same.
Moved by Dahl, seconded by Chase. Motion carried. To adopt the following resolution:
RESOLUTION 08-03-06
“PLAT OF GLANZER LOT 1A, A REPLAT OF GLANZER LOT 1
AND A PART OF PARCEL 6 OF THE PLAT OF BEADLE
COUNTY W.A. NO. 3 IN THE NW4 OF SECTION 21-109-63”
On recommendation of the Beadle County Planning Commission: BE IT RESOLVED: by the Board of Beadle County Commissioners that the plat of “Glanzer Lot 1A, a replat of Glanzer Lot 1 and a part of parcel 6 of Beadle County W.A. No. 3 in the NW4 of Section 21-109-63 West of the 5th P.M., Beadle County, South Dakota, as described above and drawn hereon be approved and accepted and the Auditor hereby is instructed to endorse on such plat a copy of this resolution and to certify the same.
Jim Borszich and Barry Cranston representing Greater Huron Development met with the board to update them on past and up coming projects for Huron and Beadle County.
Merle Krull from South Dakota Group Insurance Pool met with the board to give an overview of their insurance plan.
On motion the Board adjourned to meet next on August 22, 2006 at 9:00 a.m.
______________________________
Larry Mattke, Chairman of the Board
_______________________________
Connie R. Muth, Beadle County Auditor
|