Clayton County, Iowa - Board of Supervisors Minutes

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April 26, 2006

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A meeting of the Board of Supervisors of Clayton County, Iowa, was held at 10:30 o’clock a.m., on April 26, 2006, at the Board Office, Elkader, Iowa, pursuant to the rules of the Board.

The Chairperson presided and the roll was called, showing Supervisors present and absent as follows:

Present: Robert Walke, Neil Meyer Absent: Larry Gibbs

The Board investigated and found that notice of the intention of the Board of Supervisors to conduct a public hearing to approve a Development Agreement between the County and Clayton County Recycling, Inc. with respect to the construction of improvements to the Company’s metal recycling facility, which provides for certain property tax incentives in the form of property tax payments in a total amount not exceeding $250,000, had been published according to law and as directed by the Board and that this is the time and place at which the Board shall receive oral or written objections from any resident or property owner of the County. All written objections, statements, and evidence heretofore filed were reported to the Board, and all oral objections, statements, and all other exhibits presented were considered.

The following named persons presented oral objections, statements, or evidence as summarized below; filed written objections or statements, copies of which are attached hereto; or presented other exhibits, copies of which are attached hereto:

No one presented anything for or against. There being no further objections or comments, the Chairperson announced that the hearing was closed.

Supervisor Neil Meyer introduced the resolution next hereinafter set out and moved its adoption, seconded by Supervisor Robert Walke; and after due consideration thereof by the Board, the Chairperson put the question upon the adoption of said resolution, and the roll being called, the following named Supervisors voted:

Ayes: Robert Walke, Neil Meyer Nays: None.

Whereupon, the Chairperson declared said resolution duly adopted, as follows:

RESOLUTION 13-2006

Approving Development Agreement with Clayton County Recycling, Inc., Authorizing Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement

WHEREAS, Clayton County, Iowa (the “County”), pursuant to and in strict compliance with all laws applicable to the County, and in particular the provisions of Chapter 403 of the Code of Iowa, has adopted an Urban Renewal Plan for the Clayton County Recycling Urban Renewal Area (the “Urban Renewal Area”); and

WHEREAS, this Board has adopted an ordinance providing for the division of taxes levied on taxable property in the Urban Renewal Area pursuant to Section 403.19 of the Code of Iowa and establishing the fund referred to in Subsection 2 of Section 403.19 of the Code of Iowa (the “Urban Renewal Tax Revenue Fund”), which fund and the portion of taxes referred to in that subsection may be irrevocably pledged by the County for the payment of the principal and interest on indebtedness incurred under the authority of Section 403.9 of the Code of Iowa to finance or refinance in whole or in part projects in the Urban Renewal Area; and

WHEREAS, an agreement between the County and Clayton County Recycling, Inc. has been prepared (the “Agreement”), pursuant to which Clayton County Recycling, Inc. has agreed to construct improvements to the Company’s metal recycling facility in the Urban Renewal Area (the “Clayton County Recycling, Inc. Project”) under which the County would provide tax increment payments in a total amount not exceeding $250,000; and

WHEREAS, this Board of Supervisors (the “Board”), pursuant to Section 403.9 of the Code of Iowa, has published notice, has held a public hearing on the Agreement on April 26, 2006, and has otherwise complied with statutory requirements for the approval of the Agreement; and

WHEREAS, Chapter 15A of the Code of Iowa (“Chapter 15A”) declares that economic development is a public purpose for which a County may provide grants, loans, tax incentives, guarantees and other financial assistance to or for the benefit of private persons; and

WHEREAS, Chapter 15A requires that before public funds are used for grants, loans, tax incentives or other financial assistance, a Board of Supervisors must determine that a public purpose will reasonably be accomplished by the spending or use of those funds; and

WHEREAS, Chapter 15A requires that in determining whether funds should be spent, a Board of Supervisors must consider any or all of a series of factors;

NOW, THEREFORE, It Is Resolved by the Board of Supervisors of Clayton County, Iowa, as follows:

Section 1. Pursuant to the factors listed in Chapter 15A, the Board hereby finds that:

(a) The Clayton County Recycling, Inc. Project will add diversity and generate new opportunities for the Clayton County and Iowa economies;

(b) The Clayton County Recycling, Inc. Project will generate public gains and benefits, particularly in the creation of new jobs, which are warranted in comparison to the amount of the proposed property tax incentives.

Section 2. The Board further finds that a public purpose will reasonably be accomplished by entering into the Agreement and providing the property tax payments to Clayton County Recycling, Inc.

Section 3. The Agreement is hereby approved and the Chairperson and County Auditor are hereby authorized and directed to execute and deliver the Agreement on behalf of the County, in substantially the form and content in which the Agreement has been presented to this Board of Supervisors, and such officers are also authorized to make such changes, modifications, additions or deletions as they, with the advice of bond counsel, may believe to be necessary, and to take such actions as may be necessary to carry out the provisions of the Agreement.

Section 4. As provided and required by Chapter 403 of the Code of Iowa, the County’s obligations under the Agreement shall be payable solely from a subfund (the “Clayton County Recycling, Inc. Subfund”) which is hereby established, into which shall be paid that portion of the income and proceeds of the Urban Renewal Tax Revenue Fund attributable to property taxes derived from the property described as follows:

Certain real property situated in Clayton County, Iowa more particularly described as follows:

Lot 1 in the Southeast Quarter of the Northeast Quarter and Lot 1 in the Northeast Quarter of the Southeast Quarter of Section 9, Township 95 North, Range 5 West of the Fifth Principal Meridian, Clayton County, Iowa according to plat recorded in Book 15, Page 109.

Section 5. The County hereby pledges to the payment of the Agreement the Clayton County Recycling, Inc. Subfund and the taxes referred to in Subsection 2 of Section 403.19 of the Code of Iowa to be paid into such Subfund.

Section 6. After its adoption, a copy of this resolution shall be filed in the office of the County Auditor of Clayton County to evidence the continuing pledging of the Clayton County Recycling, Inc. Subfund and the portion of taxes to be paid into such Subfund and, pursuant to the direction of Section 403.19 of the Code of Iowa, the Auditor shall allocate the taxes in accordance therewith and in accordance with the tax allocation ordinance referred to in the preamble hereof.

Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed.

Passed and approved this 26th day of April, 2006.

The Board of Supervisors of Clayton County, Iowa, met on April 26, 2006, at 11:00 o’clock, a.m., at the Board Office, Elkader, Iowa, for the purpose of conducting a public hearing on the designation of an urban renewal area and on a proposed urban renewal plan and project. The Chairperson presided and the roll being called the following Supervisors were present and absent:

Present: Robert Walke, Neil Meyer Absent: Larry Gibbs

The Board investigated and found that notice of the intention of the Board to conduct a public hearing on the designation of the Clayton County Mining Urban Renewal Area and on an urban renewal plan and project for said Urban Renewal Area had been published according to law and as directed by the Board and that this is the time and place at which the Board shall receive oral or written objections from any resident or property owner of the County. All written objections, statements, and evidence heretofore filed were reported to the Board, and all oral objections, statements, and all other exhibits presented were considered.

No one presented anything for or against the issue. There being no further objections, comments, or evidence offered, the Chairperson announced the hearing closed.

Supervisor Neil Meyer moved the adoption of a resolution entitled “A resolution to declare necessity and establish an urban renewal area, pursuant to Section 403.4 of the Code of Iowa and approve urban renewal plan and project for the Clayton County Mining Urban Renewal Area”, seconded by Supervisor Robert Walke. After due consideration, the Chairperson put the question on the motion and the roll being called, the following named Supervisors voted:

Ayes: Robert Walke, Neil Meyer Nays: None; Whereupon, the Chairperson declared the resolution duly adopted and signed approval thereto.

RESOLUTION NO. 14-2006

A resolution to declare necessity and establish an urban renewal area, pursuant to Section 403.4 of the Code of Iowa and approve urban renewal plan and project for the Clayton County Mining Urban Renewal Area

WHEREAS, as a preliminary step to exercising the authority conferred upon Iowa counties by Chapter 403 of the Code of Iowa, the “Urban Renewal Law”, a county must adopt a resolution finding that one or more slums, blighted or economic development areas exist in the county and that the rehabilitation, conservation, redevelopment, development or a combination thereof, of such area or areas is necessary in the interest of the public health, safety or welfare of the residents of the county; and

WHEREAS, it has been recommended that the Clayton County Mining Urban Renewal Area be established on the property (the “Property”) lying within the boundaries set out in Exhibit A to this Resolution; and

WHEREAS, a proposal has been made which establishes the need to designate the Property as being appropriate for industrial and commercial development; and

WHEREAS, the proposal demonstrates that sufficient need exists to warrant finding the Property an economic development area; and

WHEREAS, notice of a public hearing by the Board of Supervisors on the question of establishing the area identified above as an urban renewal area and on a proposed urban renewal plan and project for the area was heretofore given in strict compliance with the provisions of Chapter 403 of the Code of Iowa, and the Board has conducted said hearing; and

WHEREAS, the proposed urban renewal plan and project were submitted to and approved by the Planning and Zoning Commission of the County; and

WHEREAS, Section 403.17 of the Code of Iowa requires a joint agreement between a county and a city with respect to an urban renewal area located within two miles of the city limits of a city; and

WHEREAS, the Property is located within two miles of the city limits of the City of Clayton, and the City of Clayton has executed and delivered a Joint Agreement consenting to the inclusion of the Property in the Clayton County Mining Urban Renewal Area; and

WHEREAS, the owners of the portion of the Property which meets the definition of “agricultural land” under Section 403.17 have executed and delivered agreements consenting to the inclusion of their land in the Clayton County Mining Urban Renewal Area; and

WHEREAS, copies of the urban renewal plan, notice of public hearing and notice of a consultation meeting with respect to the urban renewal plan were mailed to the City of Clayton, Clayton Ridge Community School District and the Northeast Iowa Community College; the consultation meeting was held; and responses to any comments or recommendations received following the consultation meeting were made as required by law;

NOW, THEREFORE, It Is Resolved by the Board of Supervisors of Clayton County, Iowa, as follows:

Section 1. An economic development area as defined in Chapter 403 of the Code of Iowa is found to exist within the boundaries set out in Exhibit A.

Section 2. The area identified in Section 1 hereof is hereby declared to be an urban renewal area, in conformance with the requirements of Chapter 403 of the Code of Iowa, and is hereby designated the Clayton County Mining Urban Renewal Area.

Section 3. The development of this area is necessary in the interest of the public health, safety or welfare of the residents of Clayton County, Iowa.

Section 4. It is hereby determined by this Board of Supervisors as follows:

The proposed urban renewal plan conforms to the general plan of the county as a whole;
Proposed industrial and commercial development in the urban renewal area is necessary and appropriate to facilitate the proper growth and development of the County in accordance with sound planning standards and local community objectives.

Section 5. The urban renewal plan for the Clayton County Mining Urban Renewal Area is made a part hereof and is hereby in all respects approved in the form presented to this Board, and the proposed project for such area based upon such plan is hereby in all respects approved.

Section 6. The Joint Agreement set forth as Exhibit B to this Resolution is hereby approved, and the Chairperson and County Auditor are hereby authorized and directed to execute said agreement on behalf of the County.

Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed, to the extent of such conflict.

Passed and approved April 26, 2006.

Exhibit A

Legal Description

Clayton County Mining Urban Renewal Area

Chalmer’s Property

Lot One (1) of the Southeast Quarter of the Southwest Quarter (SE1/4)(SW1/4); also the Northeast Quarter of the Southwest Quarter (NE1/4SW1/4), except Lot One (1) thereof, and except so much thereof as is included in the Plat of Lower Clayton, Iowa, all in Section One (1), Township Ninety-three (93) North, Range Three (3), West of the 5th P.M. in Clayton County, Iowa; also Lots One (1), Two (2), Three (3), Four (4), Five (5), Six (6), Seven (7) and Eight (8) in Block Two (2), Lower Clayton, Clayton County, Iowa, according to the recorded plat thereof; all subject to the right-of-way of the C. M. St. P.& P. Railway Company; also the railroad sidetrack adjacent to said real estate and on the right-of-way of the C. M. St. P. & P. Railway; all subject to easements of record, from the 28th day of August, 1997, at 8:00 a.m. to the 31st day of December, 1997, at 8:00 a.m.; and

Elwick Property

The Northwest Quarter of the Northwest Quarter (NW1/4NW1/4), except beginning at the Northwest Corner of the Southwest Quarter of the Northwest Quarter (SW1/4NW1/4), thence north along Section line 2 rods, thence east 56 rods, thence north 6 rods, thence east 24 rods, thence south 8 rods to the center of the Northwest Quarter (NW1/4), thence west 80 rods to the place of beginning; and except the South Half of the Southwest Quarter of the Northwest Quarter of the Northwest Quarter (S1/2SW1/4NW1/4NW1/4; and except the south 33 feet of the North Half of the Southwest Quarter of the Northwest Quarter of the Northwest Quarter (N1/2SW1/4NW1/4NW1/4); and except Lot Four (4) of the Northwest Quarter of the Northwest Quarter (NW1/4NW1/4), all in Section Eighteen (18);

The Northeast Quarter of the Northwest Quarter (NE1/4NW1/4), except that part lying south of the Road and except beginning at the Southwest Corner of said Northeast Quarter of the Northwest Quarter (NE1/4NW1/4), thence east 40 rods, thence north 10 rods, thence west 40 rods to the west line of said forty, thence south 10 rods to the place of beginning, all in Section Eighteen (18);

The Northeast Quarter (NE1/4), except that party lying south of the Road, in Section Eighteen (18);

Government Lot One (1) and Government Lot Two (2), except that part of Government Lot Two (2) lying southwest of the public road running through same; and except the railroad right-of-way and except land condemned by the U.S. Government, all in Section Seventeen (17);

All in Township Ninety-three (93) North, Range Two (2), West of the 5th P.M., in Clayton County, Iowa;

Pursuant to Chapter 614.29 through 614.38 of the 1971 Code of Iowa and Chapter 11 of the Iowa Land Title Examination Standards, to the 23rd day of April, 2001, at 8:00 a.m.

This description has been surveyed and is 229 acres; and

North Terminal

Lots Four (4), Five (5), Six (6) and Seven (7) of Block One (1); Lots Six (6), Seven (7) and Eight (8) of Block Six (6); the south 138 feet of Block Seven (7); all of Blocks Three (3), Four (4), Five (5), Eight (8) and Nine (9); Mechanic Street between the north line of Lot Six (6), Block Six (6), and the northeasterly line of the C. M. St. P. & P. R. R. Company’s right-of-way; Read Street from the east line of Front Street to the Mississippi River; Mill Street from the east line of Front Street to the Mississippi River, all in the Town of Lower Clayton, Clayton County, Iowa;

Lot One (1) of the Northeast Quarter of the Southwest Quarter (NE1/4SW1/4) and Lot One (1) of the Northwest Quarter of the Southeast Quarter (NW1/4SE1/4) of Section One (1), Township Ninety-three (93) North, Range Three (3), West of the 5th P.M., Clayton County, Iowa;

Except for the C. M. St. P. & P. R. R. Company’s right-of-way across the above-described properties and all subject to the U.S. Government’s flowage rights and easements; and

Roggman

Government Lot Four (4) of Section One (1), Township Ninety-three (93) North, Range Three (3), EXCEPT:

Commencing at Government survey stake Index No. IA-462 and then due westerly a distance of 213 feet to the center of the Chicago Milwaukee and St. Paul and Pacific Railroad Company right-of-way; thence following the center of the track in a northerly direction a distance of 300 feet to point of beginning; thence in a southerly direction 500 feet along the center of said Railroad right-of-way to the southerly point. These two points are the northerly and southerly boundaries and all property easterly thereof;

and EXCEPT land condemned by the United States of America as described in Book 8, Misc., Page 137.

and EXCEPT the railroad right-of way.

Subject to an easement as granted in Warranty Deed recorded in Book 60, T.L.D., Page 171.

All in Clayton County, Iowa, from the 7th day of January, 1943, at 8:00 a.m., to the 5th day of October, 1998, at 8:00 a.m.

Silica Mine

Government Lots One (1), Two (2), Three (3) and Four (4); also the Southwest Quarter of the Northwest Quarter (SW1/4NW1/4), and the Southwest Quarter of the Southeast Quarter (SW1/4SE1/4), all in Section Seven (7); also the fractional West Half of the Southwest Quarter (W1/2SW1/4) in Section Eight (8), all in Township Ninety-three (93) North, Range Two (2), West of the Fifth P.M., in Clayton County, Iowa, containing 277.20 acres, more or less, excepting therefrom the railroad right-of-way of the Dubuque & Minnesota Railroad Company (now known as the Milwaukee Road), dated February 24, 1871 and recorded in the Office of the Recorder of Clayton County, Iowa, on July 27, 1872 in Book 39 of Deeds, Page 393; and

The Southwest Corner of the Southwest Quarter of the Southwest Quarter (SW1/4SW1/4) of Section Six (6), in Township Ninety-three (93) North, Range Two (2), West of the Fifth P.M., in Clayton County, Iowa, containing 1.45 acres, more or less, subject to the railroad right-of-way of the Chicago, Milwaukee and St. Paul Railway Company (now known as the Milwaukee Road), dated November 30, 1883 and recorded in the Office of the Recorder of Clayton County, Iowa, on December 8, 1883 in Book 52 of Deeds, Page 609; and

Storbeck Road

Lot Two (2) of the Subdivision of Lot Two (2) of the Southwest Quarter of the Southwest Quarter (SW1/4SW1/4) of Section One (1), Lot Two (2) of Subdivision of Lot Two (2) of the West Half of the Northwest Quarter (W1/2 NW1/4), except Lot One (1) of Two (2) of Two (2) of Section Twelve (12), except that part deeded to Clayton County, recorded in Book 140, L.D., Pages 245-247; and Lot One (1) of One (1) of Two (2) of the Southwest Quarter of the Northwest Quarter (SW1/4NW1/4) of Section Twelve (12), all in Township Ninety-three (93) North, Range Three (3), West of the 5th P.M., in Clayton County, Iowa; and

Excluding all property lying within the incorporated limits of the City of Clayton, Iowa, as of April 26, 2006.

The Board of Supervisors of Clayton County, Iowa, met on April 26, 2006 at 11:00 o’clock a.m., at the Board Office, in Elkader, Iowa.

The Chairperson presided and the roll was called showing Supervisors present and absent, as follows:

Present: Robert Walke, Neil Meyer Absent: Larry Gibbs

Supervisor Neil Meyer introduced an ordinance entitled “Ordinance No. 2-2006. An Ordinance providing for the division of taxes levied on taxable property in the Clayton County Mining Urban Renewal Area, pursuant to Section 403.19 of the Code of Iowa.”

It was moved by Supervisor Neil Meyer and seconded by Supervisor Robert Walke that the aforementioned ordinance be adopted. The Chairperson put the question on the motion and the roll being called, the following named Supervisors voted:

Ayes: Robert Walke, Neil Meyer Nays: None.

Whereupon, the Chairperson declared the motion duly carried and declared that said ordinance had been given its initial passage.

It was moved by Supervisor Neil Meyer and seconded by Supervisor Robert Walke that the statutory rule requiring said ordinance to be considered and voted on for passage at two Board meetings prior to the meeting at which it is to be finally passed be suspended. The Chairperson put the question on the motion and the roll being called, the following named Supervisors voted:

Ayes: Robert Walke, Neil Meyer Nays: None.

Whereupon, the Chairperson declared the motion duly carried.

It was moved by Supervisor Neil Meyer and seconded by Supervisor Robert Walke that the ordinance entitled “Ordinance No. 2-2006. An Ordinance providing for the division of taxes levied on taxable property in the Clayton County Mining Urban Renewal Area, pursuant to Section 403.19 of the Code of Iowa”, now be put upon its final passage and adoption. The Chairperson put the question on the final passage and adoption of said ordinance and the roll being called, the following named Supervisors voted:

Ayes: Robert Walke, Neil Meyer Nays: None

Whereupon, the Chairperson declared the motion duly carried and said ordinance duly adopted, as follows:

ORDINANCE NO. 2-2006

An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the Clayton County Mining Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa

BE IT ENACTED by the Board of Supervisors of Clayton County, Iowa:

Section 1. Purpose. The purpose of this ordinance is to provide for the division of taxes levied on the taxable property in the Clayton County Mining Urban Renewal Area, each year by and for the benefit of the state, city, county, school districts or other taxing districts after the effective date of this ordinance in order to create a special fund to pay the principal of and interest on loans, moneys advanced to or indebtedness, including bonds proposed to be issued by Clayton County to finance projects in such area.

Section 2. Definitions. For use within this ordinance the following terms shall have the following meanings:

“County” shall mean Clayton County, Iowa.

“Urban Renewal Area” shall mean the Clayton County Mining Urban Renewal Area, the boundaries of which are set out below, such area having been identified in the Urban Renewal Plan approved by the Board of Supervisors by resolution adopted on April 26, 2006:

Chalmer’s Property

Elwick Property

The Northeast Quarter (NE1/4), except that party lying south of the Road, in Section Eighteen (18);

All in Township Ninety-three (93) North, Range Two (2), West of the 5th P.M., in Clayton County, Iowa;

Pursuant to Chapter 614.29 through 614.38 of the 1971 Code of Iowa and Chapter 11 of the Iowa Land Title Examination Standards, to the 23rd day of April, 2001, at 8:00 a.m.

This description has been surveyed and is 229 acres; and

North Terminal

Except for the C. M. St. P. & P. R. R. Company’s right-of-way across the above-described properties and all subject to the U.S. Government’s flowage rights and easements; and

Roggman

Government Lot Four (4) of Section One (1), Township Ninety-three (93) North, Range Three (3), EXCEPT:

and EXCEPT land condemned by the United States of America as described in Book 8, Misc., Page 137.

and EXCEPT the railroad right-of way.

Subject to an easement as granted in Warranty Deed recorded in Book 60, T.L.D., Page 171.

All in Clayton County, Iowa, from the 7th day of January, 1943, at 8:00 a.m., to the 5th day of October, 1998, at 8:00 a.m.

Silica Mine

Storbeck Road

Excluding all real property lying within the incorporated limits of the City of Clayton, Iowa, as of April 26, 2006.

Section 3. Provisions for Division of Taxes Levied on Taxable Property in the Urban Renewal Area. After the effective date of this ordinance, the taxes levied on the taxable property in the Urban Renewal Area each year by and for the benefit of the State of Iowa, the County and any city, school district or other taxing district in which the Urban Renewal Area is located, shall be divided as follows:

that portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts upon the total sum of the assessed value of the taxable property in the Urban Renewal Area, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the County certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the special fund referred to in paragraph (b) below, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. For the purpose of allocating taxes levied by or for any taxing district which did not include the territory in the Urban Renewal Area on the effective date of this ordinance, but to which the territory has been annexed or otherwise included after the effective date, the assessment roll applicable to property in the annexed territory as of January 1 of the calendar year preceding the effective date of the ordinance which amends the plan for the Urban Renewal Area to include the annexed area, shall be used in determining the assessed valuation of the taxable property in the annexed area.

that portion of the taxes each year in excess of such amounts shall be allocated to and when collected be paid into a special fund of the County to pay the principal of and interest on loans, moneys advanced to or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under the authority of Section 403.9(1), of the Code of Iowa, incurred by the County to finance or refinance, in whole or in part, projects in the Urban Renewal Area, and to provide assistance for low and moderate-income family housing as provided in Section 403.22, except that taxes for the regular and voter-approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 of the Code of Iowa, and taxes for the payment of bonds and interest of each taxing district shall be collected against all taxable property within the taxing district without limitation by the provisions of this ordinance. Unless and until the total assessed valuation of the taxable property in the Urban Renewal Area exceeds the total assessed value of the taxable property in such area as shown by the assessment roll referred to in subsection (a) of this section, all of the taxes levied and collected upon the taxable property in the Urban Renewal Area shall be paid into the funds for the respective taxing districts as taxes by or for said taxing districts in the same manner as all other property taxes. When such loans, advances, indebtedness, and bonds, if any, and interest thereon, have been paid, all money thereafter received from taxes upon the taxable property in the Urban Renewal Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property.

the portion of taxes mentioned in subsection (b) of this section and the special fund into which that portion shall be paid may be irrevocably pledged by the County for the payment of the principal and interest on loans, advances, bonds issued under the authority of Section 403.9(1) of the Code of Iowa, or indebtedness incurred by the County to finance or refinance in whole or in part projects in the Urban Renewal Area.

as used in this section, the word “taxes” includes, but is not limited to, all levies on an ad valorem basis upon land or real property.

Section 4. Repealer. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are hereby repealed.

Section 5. Saving Clause. If any section, provision, or part of this ordinance shall be adjudged invalid or unconstitutional, such adjudication shall not affect the validity of the ordinance as a whole or any section, provision or part thereof not adjudged invalid or unconstitutional.

Effective Date. This ordinance shall be effective after its final passage, approval and publication as provided by law

A meeting of the Board of Supervisors of Clayton County, Iowa, was held at 11:00 o’clock a.m., on April 26, 2006, at the Board Office, Elkader, Iowa, pursuant to the rules of the Board.

The Chairperson presided and the roll was called, showing Supervisors present and absent as follows:

Present: Robert Walke, Neil Meyer Absent: Larry Gibbs

The Board investigated and found that notice of the intention of the Board of Supervisors to conduct a public hearing to approve a Development Agreement between the County and Pattison Sand Company, L.L.C. with respect to the expansion of the Company’s mining operations, which provides for certain property tax incentives in the form of property tax payments in a total amount not exceeding $2,000,000, had been published according to law and as directed by the Board and that this is the time and place at which the Board shall receive oral or written objections from any resident or property owner of the County. All written objections, statements, and evidence heretofore filed were reported to the Board, and all oral objections, statements, and all other exhibits presented were considered.

No one presented anything for or against the issue.

There being no further objections or comments, the Chairperson announced that the hearing was closed.

Ayes: Robert Walke, Neil Meyer Nays: None.

Whereupon, the Chairperson declared said resolution duly adopted, as follows:

RESOLUTION 15-2006

Approving Development Agreement with Pattison Sand Company, L.L.C., Authorizing Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement

WHEREAS, Clayton County, Iowa (the “County”), pursuant to and in strict compliance with all laws applicable to the County, and in particular the provisions of Chapter 403 of the Code of Iowa, has adopted an Urban Renewal Plan for the Clayton County Mining Urban Renewal Area (the “Urban Renewal Area”); and

WHEREAS, a certain Development Agreement between the County and Pattison Sand Company, L.L.C. (the “Company”) has been prepared (the “Agreement”), pursuant to which the Company has agreed to undertake the expansion of the Company’s mining operations in the Urban Renewal Area (the “Pattison Sand Company, L.L.C. Project”), and under which the County would provide tax increment payments in a total amount not exceeding $2,000,000; and

WHEREAS, Chapter 15A requires that in determining whether funds should be spent, a Board of Supervisors must consider any or all of a series of factors;

NOW, THEREFORE, It Is Resolved by the Board of Supervisors of Clayton County, Iowa, as follows:

Section 6. Pursuant to the factors listed in Chapter 15A, the Board hereby finds that:

The Pattison Sand Company, L.L.C. Project will add diversity and generate new opportunities for the Clayton County and Iowa economies;

The Pattison Sand Company, L.L.C. Project will generate public gains and benefits, particularly in the creation of new jobs, which are warranted in comparison to the amount of the proposed property tax incentives.

Section 7. The Board further finds that a public purpose will reasonably be accomplished by entering into the Agreement and providing the property tax payments to Pattison Sand Company, L.L.C..

Section 8. The Agreement is hereby approved and the Chairperson and County Auditor are hereby authorized and directed to execute and deliver the Agreement on behalf of the County, in substantially the form and content in which the Agreement has been presented to this Board of Supervisors, and such officers are also authorized to make such changes, modifications, additions or deletions as they, with the advice of bond counsel, may believe to be necessary, and to take such actions as may be necessary to carry out the provisions of the Agreement.

Section 9. As provided and required by Chapter 403 of the Code of Iowa, the County’s obligations under the Agreement shall be payable solely from a subfund (the “Pattison Sand Company, L.L.C. Subfund”) which is hereby established, into which shall be paid that portion of the income and proceeds of the Urban Renewal Tax Revenue Fund attributable to property taxes derived from the property described as follows:

Chalmer’s Property

Elwick Property

The Northeast Quarter (NE1/4), except that party lying south of the Road, in Section Eighteen (18);

All in Township Ninety-three (93) North, Range Two (2), West of the 5th P.M., in Clayton County, Iowa;

Pursuant to Chapter 614.29 through 614.38 of the 1971 Code of Iowa and Chapter 11 of the Iowa Land Title Examination Standards, to the 23rd day of April, 2001, at 8:00 a.m.

This description has been surveyed and is 229 acres; and

North Terminal

Except for the C. M. St. P. & P. R. R. Company’s right-of-way across the above-described properties and all subject to the U.S. Government’s flowage rights and easements; and

Roggman

Government Lot Four (4) of Section One (1), Township Ninety-three (93) North, Range Three (3), EXCEPT:

and EXCEPT land condemned by the United States of America as described in Book 8, Misc., Page 137.

and EXCEPT the railroad right-of way.

Subject to an easement as granted in Warranty Deed recorded in Book 60, T.L.D., Page 171.

All in Clayton County, Iowa, from the 7th day of January, 1943, at 8:00 a.m., to the 5th day of October, 1998, at 8:00 a.m.

Silica Mine

Storbeck Road

Excluding all real property situated in the incorporated limits of the City of Clayton, Iowa, as of April 26, 2006.

Section 10. The County hereby pledges to the payment of the Agreement the Pattison Sand Company, L.L.C. Subfund and the taxes referred to in Subsection 2 of Section 403.19 of the Code of Iowa to be paid into such Subfund.

Section 11. After its adoption, a copy of this resolution shall be filed in the office of the County Auditor of Clayton County to evidence the continuing pledging of the Pattison Sand Company, L.L.C. Subfund and the portion of taxes to be paid into such Subfund and, pursuant to the direction of Section 403.19 of the Code of Iowa, the Auditor shall allocate the taxes in accordance therewith and in accordance with the tax allocation ordinance referred to in the preamble hereof.

Section 12. All resolutions or parts thereof in conflict herewith are hereby repealed.

Passed and approved this 26th day of April, 2006.

/s/ Robert Walke, Vice-Chairman

/s/ Dennis Freitag, County Auditor