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7/17/2007 9:21:07 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
7917
Resolution Title
Giving Approval to Supplemental Indenture of Trust and Supplemental Loan Agreement Relating to Outstanding Variable Rate Demand Commercial Development Bonds, Series F
Resolution Date Passed
6/23/1986
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<br />EXTRACT OF MINUTES OF MEETING OF THE <br /> <br />CITY COUNCIL OF THE CITY OF ROSE TILLE <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />*' <br /> <br />* <br /> <br />Pursuant to due call and notice thereof, a reg lIar meeting of the <br />City Council of the City of Roseville, County )f Ramsey, Minnesota <br />was duly held on the 23rd day of June, 1986 at 7:30 p.m. <br /> <br />The following members were present: Cushman, I Tohnson, Matson, <br />Kehr, and Demos, and the following were absent: None. <br /> <br />Member Kehr introduced the following resolutio: 1 and moved <br />its adoption: <br /> <br />RESOLUTION NO. 7917 <br /> <br />Resolution Giving Approval to Supplemental Indenture of Trust <br />and Supplemental Loan Agreement Relatinq to Outstanding <br />Variable Rate Demand Commercial Development Bonds, Series F <br /> <br />WHEREAS, <br /> <br />(a) The City of Roseville (the "City") has au':horized, issued <br />and delivered its $4,700,000 Variable Ratc~ Demand Commercial <br />Development Revenue Bonds, Series F (Bergl ~r Transfer & <br />Storage, Inc. Project) (the "Bonds") pursllant to that <br />certain Indenture of Trust dated as of De(:ember 1, 1985 (the <br />"Indenture") between the City and the Fir: it Trust Company, <br />Inc. (the "Trustee"); <br /> <br />(b) The City loaned the proceeds of the Bonds to Berger Transfer <br />& Storage, Inc. (the "Borrower") pursuant to that certain <br />Loan Agreement dated as of December 1, 191:5 (the "Loan <br />Agreement") between City and the Borrower <br /> <br />(c) The City requested that Standard and Poor s Corporation <br />rate the Bonds; <br /> <br />(d) Standard and Poor's Corporation requires i.hat certain <br />changes be made to the Indenture and Loan Agreement before <br />it will rate the Bonds; <br /> <br />(e) The amendments to the Indenture requested by Standard and <br />Poor's Corporation have been incorporated into a <br />Supplemental Indenture of Trust between tl~ City and the <br />Trustee (the "Supplemental Indenture"); <br /> <br />(f) The amendments to the Loan Agreement requEsted by Standard <br />and Poor's Corporation have been incorporcted into a <br />Supplemental Loan Agreement between the Cjty and the Company <br />(the-Supplemental Loan Agreement"). <br />
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