90-7699R60
RESOLUTION 7699
APPROVING EXECUTION AND DELIVERY OF A FIRST
SUPPLEMENTAL .INDENTURE OF TRUST SECURING
COMMERCIAL DEVELOPMENT REVENUE REFUNDING BONDS
(CORPORATE TRAVEL BUILDING PROJECT) .SERIES
1987A AND SERIES 1987E
WHEREAS, the. City of Richfield, a political subdivision of the
State of Minnesota (the "Issuer"), issued its Commercial
Development Revenue Refunding Bonds (Corporate Travel Building
Project) Series 1987A and Series 1987E in the aggregate principal
amount of $4,755,000 (the "Bonds") pursuant to an Indenture of
Trust dated as of December 1, 1987 between the Issuer and First
Trust Company, Inc. (the "Indenture"), the proceeds of which were
loaned to Dacotah Properties-Richfield, a Minnesota general
partnership. (the "Company") to refund certain prior obligations of
the Issuer; and
WHEREAS, pursuant to the Indenture, the Bonds are required to
be purchased by the Company for remarketing on February 1, 1991
(the "First Mandatory Purchase Date"), subject to the rights of
current Bondholders to elect to retain their Bonds; and
WHEREAS, as a result of a designation by the Company, the
Bonds will be subject. to a second mandatory purchase on February
1, 1996 (the "Second Mandatory Purchase Date"); and
WHEREAS, the Company has. presented to the Issuer for its
approval a First Supplemental Indenture of Trust dated as of
December 1, 1990 (the "Supplemental Indenture"), which amends the
Indenture to clarify an ambiguity or inconsistency with respect to
the date on which the Second Mandatory Purchase Date occurs; and
WHEREAS, the proposed amendment of the Indenture is permitted
to be made without Bondholder consent pursuant to Section 801(a)
of the Indenture.
NOW, THEREFORE, BE IT RESOLVED by the Issuer that the
Supplemental Indenture is hereby approved, and the Mayor and City
Manager are hereby authorized and directed to execute and deliver
the Supplemental Indenture,. with such changes and modifications
thereof as the Mayor and City Manager shall approve, such approval
being deemed conclusively given upon execution of the Supplemental
Indenture by the Mayor and City Manager; provided that in the
absence of the Mayor or City Manager, any persons duly authorized
to act in their stead may so act with respect to the foregoing.
Dated: December 10, 1990.
Passed by the City Council of the City of Richfield, Minnesot this 10th y o
December, 1990.
ATTEST:
r ~ /
Thomas P. Ferber City Clerk
e n u m ayor
Resolution No. 7699 Page 2
FIRST
THIS FIRST SUPPLEMEN',
December 1, 19.90, between
subdivision of the State ~
Trust National Association
"Trustee").
R
WHEREAS, the Issuer is
Refunding Bonds (Corporate
and Series 1987B in the ag
(the "Bonds") pursuant to
dated as of December 1, 15
{f/k/a First Trust Compan;
loaned to Dacotah Propez
partnership (the "Company")
the Issuer;. and
INDENTURE OF TRUST
AL INDENTURE OF TRUST, dated as of
the City of Richfield, a political
f Minnesota (the "Issuer") and First
a national banking association (the
i
CITALS:
sued its Commercial Development Revenue
Travel Building Project) Series 1987A
~regate principal amount of $4,755,000
n Indenture of Trust (the "Indenture")
87 between the Issuer and the Trustee
~, Inc.), the proceeds of which were
ties-Richfield, a Minnesota general
to refund certain prior obligations of
WHEREAS, pursuant to the Indenture, the Bonds are required to
be purchased by the Compan~~~y for remarketing on February 1, 1991
(the "First Mandatory Purchase Date"), subject to the rights of
current Bondholders to retain their .Bonds; and
WHEREAS, as a result of a designation by the Company, the
Bonds as remarketed on the First Mandatory Purchase Date will be
subject to a second mandat',ory purchase on February 1, 19.96 (the
"Second Mandatory PurchaseDate"}; and
WHEREAS, the Company and Issuer desire to amend the Indenture
to clarify an ambiguity or inconsistency with respect to the date
on which the Second Mandatory Date occurs; and
WHEREAS, the proposed amendment of the Indenture is permitted
to be made without Bondholder consent pursuant to Section 801(a)
of the Indenture.
NOW, THEREFORE, for ood and valuable consideration, the
parties hereto agree as follows:
Section 1. The definition of "Stated Mandatory Purchase Date"
in Section 101 of the Indenture is hereby amended to read in its
entirety as follows: ',
""Stated- Mandatorv Purchase.. Date" means
February 1 of each of the following mated
years that occurs on or prior to the February
1 which next follows the Company's designation
of the Conversion Date: 1991, 1994, 1997,
2000, 2003, 2006and 2009."
Resolution No. 7699 Page 3
Section 2. All provisions of the Indenture, as amended by the
foregoing, shall continue in full force and effect, with all terms
thereof as 6o amended being hereby confirmed and ratified.
Section 3. This First Supplemental Indenture of Trust shall
be governed by and construed in accordance with the laws of the
State of Minnesota; may be executed in one or more counterparts,
with each counterpart constituting a single and original
instrument; may not be amended or .assigned except in accordance
with the terms of the Indenture; shall be binding upon and inure
to the benefit of the successors and assigns of the parties hereto;
and shall become effective as of the date hereof.
IN WITNESS WHEREOF, the undersigned parties have executed this
Agreement the day and year first above written.
CITY OF RICHFIELD, MINNESOTA
By
Mayor
By
City Manager
ATTEST:
Clerk
FIRST TRUST NATIONAL ASSOCIATION
By
Its
* ~
CONSENT
The undersigned hereby consents to the foregoing amendment of
the above-described Indenture.
DACOTAH PROPERTIES-RICHFIELD
By
General Partner