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Last modified
7/17/2007 12:07:20 PM
Creation date
12/8/2004 12:39:03 PM
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Template:
Planning Files
Planning Files - Planning File #
2729
Planning Files - Type
Planning-Other
Address
2285 COUNTY ROAD C W
Applicant
COMPUTYPE
PIN
012923410001
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<br />SEP-27-1994 08=51 <br /> <br />1ST BAI'-I< 8T PAUL m I V EU8 <br /> <br />612 244 4267 P.002/004 <br /> <br />_ First Banks <br /> <br />332 Mlnnesola ~"t <br />Saint PGtJ, Mlnneso\$ 55101 <br /> <br />September 26, 1994 <br /> <br />Mr. Ed Burrell <br />Dhwtor ofFinanCCi <br />City of RoseviUe <br />2660 Civic Cmter Drive <br />Rosevilte, Minnesora SS 113 <br /> <br />!to: Compmype. Inc. <br /> <br />Pear Mr. BurreU: <br /> <br />TbislMtar is a. foIlow"'Up to .. meeting with Dennif! Welsch regarding the financing requirements of <br />Computype, rnc, for the proposed expansion to their RoseviUe faoility. In our meeting last <br />Tlmrsday with Mr. Wol$ch we discussed 1he po$sibility of participating with the City of Roseville <br />to provido a finanoing pftCkage that will meet Computypo's needs. We understand that 'the City of <br />RoseviUe wo"ld be willing to consider a 101m amount of up to $700,000 under an amortizatiotl <br />tenn of no longer than 8 year:; at an effective interest rate of 2% below the prime mte of interest. <br />We also understand t!1at 100 City \WUld prefer to be a participant m a credit facility tbat would be <br />underwritten and serviced by the bank. Using these parameterl we have fonnulated for your <br />review a preliminary outline of the credit structure for this prop~M financiI18 as detailed within <br />the att4chcd 11"cnn Sheet". Please note that 100 Tenn Sheet is for discussion put'pO~ only and <br />does not constitute a financing commitment Qn the part of First Bank. <br /> <br />By way ofbackaround informatio~ Computype, Ino" has been a customor of First Bank NatioIUll . <br />Association since 1987. We have provided the company with both short wnn workina oapital <br />finanoing as well as intermediate term equipment tmanoing, and the company's borrowing history <br />with first Bank has been en1irely satisfaCtory. Our credit conunitmonts to the company as of <br />today's date consiit of the following: <br />Type W Amount <br />I<<volvina Line $2,500,000 <br />T.,nn Loan $1,010)000 <br />Tenn Loan $800,000 <br />CapEx Line $2.50,000 <br /> <br />Outstanding <br />$1.690,000 <br />$786,000 <br />$693,600 <br />S ..(). <br /> <br />Re;p",ynwnt Tenns <br />Interem due montbly. <br />$28,000 principal pius interest per month. <br />$13,000 prim:ipal plus interest per month. <br />Monthly principal and interest (if funded). <br /> <br />We look forward to working with the City of RoseviUe on this propo.e4 fittancinS for Computype, <br />Inc. Please contact mo at 2444257 to discuss this in further detail. <br /> <br /> <br />~ <br /> <br />M.mb"'~ FI.ank System <br />
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