HomeMy WebLinkAbout84-166 - ADMIN Resolution - City Council - 1984/10/01RESOLUTION NO. 84-166
AUTHORIZING CERTAIN AMENDMENTS TO THE
INDENTURE OF TRUST AND THE SERVICING
AGREEMENT WITH RESPECT TO THE CITY OF ST.
LOUIS PARK, MINNESOTA, COMMERCIAL
DEVELOPMENT REVENUE BONDS (SUNSET RIDGE
COMMERCIAL CONDOMINIUM PROJECT), SERIES
1984
WHEREAS, on September 17, 1984, the City Council of the City of St. Louis
Park, Minnesota (the "City") authorized the issuance of the $2,215,000 City of St.
Louis Park, Minnesota, Commercial Development Revenue Bonds (Sunset Ridge
Commercial Condominium Project), Series 1984 (the 'Bonds"), and approved and
authorized execution of certain documents related thereto; and
WHEREAS, it is necessary to make certain amendments to the Indenture of
Trust, between National City Bank, as trustee, and the City (the "Indenture"), and
the Servicing Agreement, among National City Bank, as trustee and servicer,
Sunset Ridge Financial Corporation, and the City (the "Servicing Agreement"); and
WHEREAS, it is necessary for the City Council of the City to approve such
amendments before the Bonds may be issued.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ST. LOUIS PARK:
1. That the amended Indenture and amended Servicing Agreement now
10 on file with the City are hereby approved and execution and delivery of such
documents, as amended, are hereby authorized.
2. That amendments to the Official Statement to correspond to the
amendments to the Indenture and Servicing Agreement are hereby approved.
3. That except as provided above, Resolution No. 84-151 is hereby
ratified and confirmed.
Adopted by the City Council Oct . 1 _ , 1984.
A st: Mayor
Cit' Clerq
Reviewed for administration:
CiCity Manager
Approved as to form and legality:
City Attorney