HomeMy WebLinkAboutResolution-1989-1138
RESOLUTION NO.
INTRODUCED BY:
1138
Councilmember Keller
A RESOLUTION PROVIDING FOR THE AMENDMENT OF A
CERTAIN TRUST INDENTURE SECURING THE $7,000,000 CITY OF
WHEAT RIDGE, STATE OF COLORADO MULTI-MODAL
INTERCHANGEABLE RATE INDUSTRIAL DEVELOPMENT REVENUE
BONDS (LEAF, INC. PROJECT) SERIES 1988.
WHEREAS, the city of Wheat Ridge, State of Colorado (the
"Issuer"), a body politic and corporate and a political
subdivision of the State of Colorado (the "State"), by resolution
duly adopted on December 13, 1988 authorized the issuance of the
Issuer's $7,000,000 Multi-Modal Interchangeable Rate Industrial
Development Revenue Bonds (Leaf, Inc. Project) Series 1988 (the
"Bonds") for the purpose of making a loan to Leaf, Inc., a
Delaware corporation (the "company"), to finance the installing
and equipping of a facility located within the city of Wheat
Ridge, State of Colorado, to be used by the Company for the
manufacture of candy and confectionery products;
WHEREAS, the Bonds were issued and secured pursuant to a
Trust Indenture, dated as of December 1, 1988 (the "Indenture"),
between the Issuer and First-citizens Bank & Trust Company, as
Trustee (the "Trustee");
WHEREAS, Section 8.01(e) and section 8.01(g) of the
Indenture permit the Issuer and the Trustee to enter into
indentures supplemental to the Indenture to permit the Bonds to
be assigned a rating by any Rating Agency, as defined in the
Indenture, and to cure any ambiguity or to correct or supplement
any provision contained in the Indenture, respectively;
WHEREAS, the Bonds have been submitted to Moody's Investors
service for a rating and Moody's Investors Service has requested
that certain modifications be made to the Indenture in order for
a rating to be issued;
WHEREAS, the form of the First Supplemental Indenture
containing the proposed amendments requested by Moody's Investors
Service and the amendment proposed in order to cure an ambiguity
contained in the Indenture now before this meeting is attached to
this resolution as Exhibit A and is an appropriate instrument to
be approved, executed and delivered by the Issuer for the
purposes intended by Section 8.01(e) and Section 8.01(g) of the
Indenture.
NOW, THEREFORE, Be It and It Is Hereby Resolved by the city
of Wheat Ridge, state of Colorado, as follows:
1. That the form, terms and provisions of the First
Supplemental Indenture attached hereto as Exhibit A be, and they
hereby are, in all respects approved and that the Mayor and the
City Clerk of the Issuer be, and they hereby are, authorized,
empowered and directed to execute, attest, seal and deliver the
First Supplemental Indenture attached hereto as Exhibit A in the
name and on behalf of the Issuer.
2. That the Mayor and City Clerk of the Issuer be, and they
hereby are, authorized, empowered and directed to execute, seal
and deliver any certificates as may be necessary or required in
connection with the First Supplemental Indenture.
3. That the Issuer hereby determines that all meetings of
the Issuer at which action was taken in connection with the First
Supplemental Indenture attached hereto as Exhibit A were duly and
legally called and held proper public meetings, open to the
public at all times, and notice of the time and place of such
meetings was given and minutes have been kept and are or will be
made available as required by procedures adopted by the Issuer
and by Colorado law.
4. That this resolution shall become and be effective upon
its passage and approval by the Issuer.
DONE AND RESOLVED THIS 13th day of February, 1989.
~~
Dan Wilde, Mayor
ATTEST:
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