HomeMy WebLinkAboutResolution - 87-333 - Amending Indenture of Trust for Fountain Place by CSM - L� 2-3
RESOLUTION
A RESOLUTION AUTHORIZING AN AMENDMENT TO THE INDEN-
TURE OF TRUST DATED DECEMBER 1 , 1985 BY A SECOND
SUPPLEMENTAL INDENTURE OF TRUST DATED AS OF
DECEMBER 1 , 1987 AND AUTHORIZATION OF A FIRST
AMENDMENT TO LOAN AGREEMENT DATED AS OF DECEMBER 1 ,
1987 .
WHEREAS , the City of Eden Prairie (the " Issuer " ) is a
political subdivision duly organized and existing under the
laws of the State of Minnesota; and
WHEREAS , the Issuer is authorized by the provisions of
Minnesota Statutes , Chapter 462C (the "Act " ) , as amended, to
issue and sell its revenue bonds and to use the proceeds
thereof for the purpose of financing "multifamily housing
developments , " including the Project ( as defined in the
Indenture) , all in accordance with the provisions of the Act ;
and
WHEREAS , the Issuer entered into an Indenture of Trust
dated as of December 1 , 1985 with First Trust Company, Inc . ,
r a trustee, securing its $64 , 000 , 000 Multifamily Housing Reve-
nue Bonds (Fountain Place Apartments Project ) Series 1985 , as
amended (the " Indenture" ) , and a Loan Agreement dated as of
December 1 , 1985 (the "Loan Agreement " ) between the Issuer
and Fountain Place Apartments Limited Partnership (the
"Developer " ) ; and
WHEREAS , it has become necessary to amend certain provi-
sions of the Indenture and the Loan Agreement; and
WHEREAS , such amendments are permitted by the provisions
of Article X and Article XI of the Indenture :
NOW, THEREFORE_: BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EDEN PRAIRIE; MINNESOTA, AS FOLLOWS :
Section 1 . That in order to provide for the amendment
of certain provisions of the Indenture, a Second Supplemental
Indenture of Trust dated as of December 1 , 1987 (the "Second
Supplemental Indenture" ) shall be entered into with the
Trustee .
Section 2 . That in order to provide for the amendment
of the Loan Agreement , a First Amendment to Loan Agreement
dated as of December 1 , 1987 (the "First Amendment " ) shall be
entered into with the Developer .
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Section 3 . That such Second Supplemental Indenture and
First Amendment are hereby authorized to be executed substan-
tially in the form attached hereto and the same are hereby
approved and authorized .
Section_4_ . That the Mavor and City Manager are hereby
authorized and directed to execute and to affix the seal of
the Issuer to , the Second Supplemental Indenture and the
First Amendment substantially in the forms presented before
this meeting with such changes as the Mayor , by the execution
thereof , approves .
Section 5 . That the Mayor and City Manager are hereby
authorized to execute such other documents , certificates and
agreements which may be necessary in order to effectuate the
intent of this Resolution and the delivery of the Second
Supplemental Indenture and the First Amendment .
Section 6 . That this Resolution shall be in full force
and effect immediately upon its passage and approval .
PASSED AND .APPROVED THIS 15th day of December , 1987 .
THE CITY OF EDEN PRAIRIE ,
MINNESOTA
ByE/—
M`ayo r ,
Attest :
By
i�y lerk
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