HomeMy WebLinkAbout86-164 - ADMIN Resolution - City Council - 1986/10/06RESOLUTION NO. 86-164
Authorizing certain amendments to the Indenture of
Trust for the City of St. Louis Park, Minnesota,
$11,000,000 Multifamily Rental Housing Revenue Bonds
(Community Housing and Service Corporation Project),
Series 1985.
WHEREAS, the City of St. Louis Park (the "City") has issued its $11,000,000
Multifamily Rental Housing Revenue Bonds (Community Housing and Service
Corporation Project), Series 1985, dated December 26, 1985 (the "Bonds"); and
WHEREAS, the Bonds were issued pursuant to an Indenture of Trust dated as
of December 1, 1985 and amended as of August 1, 1986 (the "Indenture") between
the City and Norwest Bank Minneapolis, N.A., as Trustee (the "Trustee"); and
WHEREAS, Community Housing and Services Corporation, a Minnesota
nonprofit corporation (the "Company") has requested the Trustee and the City to
amend the Indenture by the execution of a Supplement Number Two to the
Indenture of Trust, dated as of October 1, 1986, between the City and the Trustee;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ST. LOUIS PARK, MINNESOTA:
Section 1. The City Council of the City hereby authorizes and directs the
Mayor of the City (the "Mayor"), the City Manager (the "City Manager") and the
City Clerk (the "City Clerk") to execute, on behalf of and under the corporate seal
of the City, the Supplement Number Two to the Indenture of Trust. The
Supplement Number Two to the Indenture of Trust shall be substantially in the
form on file with the City on the date hereof, and is hereby approved.
Section 2. If for any reason the Mayor, the City Manager or the City Clerk
are unable to execute and deliver the Supplement Number Two to the Indenture of
Trust, any other member or members of the City Council of the City may execute
and deliver such document with the same force and effect as if such document was
executed by the Mayor, City Manager and City Clerk.
Section 3. This resolution shall be in full force and effect from and after its
passage.
Adopted by the City Council October 6, 1986.
Reviewed for administration:
?:,'"1`.J) ELA/Y1,t.e/:ji.v-
City Manager
Approved as to form and legality:
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City Attor