65 of 1979 - A resolution supplementing Resolution No. 58 adopted by the Board of Commissioners of the City of Sa aenter,be- t9, 197
lionorable Jennings Phillips, Jr.
Commmiesionsr of Public Affairs and Manse
211 City and County Baildisg
Salt Lake City, Vtah
Dear Commissioner Phillips:
The Board of City Commissioners, at its meeting today, passed Resolution
No. 05 of 1979, supplementing Resolution No. 50 adopted by the Board of
Commissioners of the City of Salt Lake City. Utah, authorising the isesasee
of$1,000,009 principal amotutt of said City's Industrial Development Revenue
Bonds, aeries August 1. 1979 (American Parts System, Inc. Project).
authorising said City to enter into a mortgage and indenture of trust with
Walker Bank&Trust Company and a lease with Americas Parts System. hie.,
and approving the form of a guaranty agreement between American Parts
System, Inc. and Walker Bask&Trust Company.
Yours truly,
City Recorder
ins
CCr
Auditor Attorney
Treasurer
kir. Winn
�i1es
RESOLUTION NO.65
RESOLUTION SUPPLE-
MENTING RESOLUTION MI
Section I.suBaU+abn a New
58 ADOPTED BY THE BOAR fds0ule 1 end New Protect
OF COMMISSIONERS OF THE Description.The deletion of the
CITY OF SALT LAKE CITY, Original Schedule 1 from the
UTAH, AUTHORIZING THE Indenture and the Lease and
ISSUANCE OF S1.000,000 the substitution of the New
PRINCIPAL AMOUNT OF Schedule 1 therefore Is hereby
SAID CITY'S INDUSTRIAL directed, authorized and ap-
DEVELOPMENT REVENUE proved.The Protect,as such
BONDS,SERIES AUGUST 1, term Is used In the Original
1979(AMERICAN PARTS SYS- Resolution,shall be deemed to
TEM, INC. PROJECT),AU- be Me Proledt as defined In the
THORIZING SAID CITY TO Indenture and theLease after
ENTER
ENTER INTO A MORTGAGE the Original Schedule 1 has
AND INDENTURE OF TRUST been deleted therefrom and the
WITH WALKER BANK New Schedule l has been substi-
TRUST COMPANY AND A A toted therefor.
LEASE WITH AMERICAN Section 2.Confirmation elite
PARTS SYSTEM INC.,AND Original Resolution with New
APPROVING THE FORM OF Protect Description.TheOriei-
A GUARANTY AGREEMENT I Resolution,wIM the term
BETWEEN A.INC., N ,twciecY'having the meaning
PARTS SYSTEM.INC.AND specified in Section 1 of this
WALKER BANK & TRUST Resolution,is hereby ratified
COMPANY. and confirmed and shal con-
WHEREAS. August 14, ine to be In full force.
1979,the B of Commission- Section 3. This Resolution
era of the City
of Sall Lake City, shall be In full force from and
Utah (the 'City"), adopted after it,passage by the Board
Resolution No.58(the"Oriel- of Commissioners,Its execution
t1 Resolution") authorizing by the Mayo a the City and Its
he lCIDnoi to Issue 51.000,000 being recorded In the office of
principal amount a Industrial the Ci Recorder of the City.
tRios A0005t RevenueABond, ADOPTED by the Board of
Commissioners this lath day of
fon Parts System Inc.Protect). September.1979.
r the purpose a Providing TED L.WILSON
funds to pay?tweed of tundras- Mayor
log and constructing a facility. (SEAL)
including real estate,buildings, ATTEST:
Improvements, fixtures, MILDRED V.HIGHAM
machinery and equipment(the City Recorder
"Pooled), to be leased to SCHEDULE 1
American"Pads System,Inc. TO MORTGAGE AND INOE-
(the"Company"),authorizing NTURE OF TRUST DATED AS
the City to purchase and con- OF AUGUST 1,1979,FROM
Prod the Project,authorizing SALT LAKE CITY,UTAH,TO
d
the City to enter Into a Mod- WALKER BANK & TRUST
withg and
B Indenture 8 T of rust rust AND TON LE AS ASE DATEDEAS
Company,dated as of August 1, OF AUGUST I, 1979. BE-
1979(Me"Indenture"),and a TWEEN SALT LAKE CITY,
Leese with the Comp any dated UTAH, AND AMERICAN
of August 1, 1979 (the PARTS SYSTEM,INC.
as
),In sutstantially the All of the followhg-descdbed
forms attached to the Original real estate:
ResolutWHEREAS,the forms of the Norrth;and A rwestect rn cornend r of of
2.
Indenture and the Lease at. Centennial Industrial Park,
tionseach h the ad attachedttg thereto a PHASE IV,with bearings e
oThe no:
Schedule 1 (the "Original The northwest se inee South
Schedule
t�uwhich is to be the
Pert of l East" .7as the East the South
Sadh
estate which
and upon which the line South t 09159'37"West
remainder of the Pooled is to 296.63', the West line North
be constructed was IdentlfNd; 007'23" West 340.0', aeprbx.
and (mating 108,583 square feet as
WHEREAS, it has become recorded as Entry No.3291285
necessary and desirable for the on June B.1979,In Me Office of
real estate described in the Recorder of Salt Lake County,
arevised Schedule 1 to the Lease Utah.
nd the indenture attached SUBJECT TO: (a) ease-
hereto as Exhibit A(the"New ments,restrictions and eser-
Schedule 1") to be the reel cations now of record,if any;
estate which is to be a Pad of (b) taxes and assessments,
the Project and upon which the general and special not now
be cocinder of the Pooled is to due and Payable;(c)net rights
nstructed rather than the f the public In and to any parts
real estate described on the of the premises lying or being In
Original Schedule 1; Pubfic roads of alleys or high-
NOW,THEREFORE.BE IT
ways.
RESOLVED BY THE BOARD Published September 20.
OF COMMISSIONERS OF THE 1979. (685)
CITY OF SALT LAKE CITY.
UTAH.AS FOLL OW,
ROLL CALL
VOTING Aye Nay
Mr.Chairman
Agraz . . .
Greener _
C bell
Phillips
Result
//
..
RESOLUTION NO. 65
RESOLUTION SUPPLEMENTING RESOLUTION NO. 58
ADOPTED BY THE BOARD OF COMMISSIONERS OF
THE CITY OF SALT LAKE CITY, UTAH, AUTHORIZ-
ING THE ISSUANCE OF $1,000,000 PRINCIPAL
AMOUNT OF SAID CITY'S INDUSTRIAL DEVELOPMENT
REVENUE BONDS, SERIES AUGUST 1, 1979 (AMERI-
CAN PARTS SYSTEM, INC. PROJECT) , AUTHORIZING
SAID CITY TO ENTER INTO A MORTGAGE AND
INDENTURE OF TRUST WITH WALKER BANK & TRUST
COMPANY AND A LEASE WITH AMERICAN PARTS
SYSTEM, INC. , AND APPROVING THE FORM OF A
GUARANTY AGREEMENT BETWEEN AMERICAN PARTS
SYSTEM, INC., AND WALKER BANK & TRUST
COMPANY.
WHEREAS, on August 14, 1979, the Board of Commission-
ers of the City of Salt Lake City, Utah (the "City") , adopted
Resolution No. 58 (the "Original Resolution") authorizing the
City to issue $1,000,000 principal amount of Industrial Develop-
ment Revenue Bonds, Series August 1, 1979 (American Parts Sys-
tem Inc. Project), for the purpose of providing funds to pay
the cost of purchasing and constructing a facility, including
real estate, buildings, improvements, fixtures, machinery and
equipment (the "Project") , to be leased to American Parts
System, Inc. (the "Company"), authorizing the City to purchase
and construct the Project, authorizing the City to enter into
a Mortgage and Indenture of Trust with Walker Bank & Trust
Company, dated as of August 1, 1979 (the "Indenture") , and a
Lease with the Company, dated as of August 1, 1979 (the "Lease"),
in substantially the forms attached to the Original Resolution;
and
WHEREAS, the forms of the Indenture and the Lease
attached to the Original Resolution each had attached thereto
a Schedule 1 (the "Original Schedule 1") in which the real
estate which is to be a part of the Project and upon which the
remainder of the Project is to be constructed was identified; and
WHEREAS, it has become necessary and desirable for
the real estate described in the revised Schedule 1 to the
Lease and the Indenture attached hereto as Exhibit A (the "New
Schedule 1") to be the real estate which is to be a part of the
Project and upon which the remainder of the Project is. to be
constructed rather than the real estate described on the Original
Schedule 1;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF SALT LAKE CITY, UTAH, AS FOLLOWS:
SCHEDULE 1
TO MORTGAGE AND INDENTURE OF TRUST DATED AS
OF AUGUST 1, 1979, FROM SALT LAKE CITY, UTAH,
TO WALKER BANK & TRUST COMPANY, AS TRUSTEE,
AND TO LEASE DATED AS OF AUGUST 1, 1979,
BETWEEN SALT LAKE CITY, UTAH, AND AMERICAN
PARTS SYSTEM, INC.
All of the following-described real estate:
A tract of land out of the Northwestern corner of r�� ' ""
Industrial Park, Phase IV_
Section 1. Substitution of New Schedule 1 and
New Project Description. The deletion of the Original Schedule
1 from the Indenture and the Lease and the substitution of
the New Schedule 1 therefor is hereby directed, authorized and
approved. The Project, as such term is used in the Original
Resolution, shall be deemed to be the Project as defined in the
Indenture and the Lease after the Original Schedule 1 has been
deleted therefrom and the New Schedule 1 has been substituted
therefor.
Section 2. Confirmation of the Original Resolution
with New Project Description. The Original Resolution, with
the term "Project" having the meaning specified in Section 1 of
this Resolution, is hereby ratified and confirmed and shall con-
tinue to be in full force.
Section 3. This Resolution shall be in full force
from and after its passage by the Board of Commissioners, its
execution by the Mayor of the City and its being recorded in
the office of the City Recorder of the City.
ADOPTED by the Board of Co ioners this 18th day
of September, 1979.
[SEAL] or
ATTEST:
>.: ;fig „t
City Recorder
•
-2-
SCHEDULE 1
TO MORTGAGE AND INDENTURE OF TRUST DATED AS
OF AUGUST 1, 1979, FROM SALT LAKE CITY, UTAH,
TO WALKER BANK & TRUST COMPANY, AS TRUSTEE,
AND TO LEASE DATED AS OF AUGUST 1, 1979,
BETWEEN SALT LAKE CITY, UTAH, AND AMERICAN
PARTS SYSTEM, INC.
All of the following-described real estate:
A tract of land out of the Northwestern corner of Lot 2, Centennial
Industrial Park, Phase IV, with bearings as following:
The northwest line 79°52'37" East 301.73' , the East line South 0°2'50"
East 392.4', the South line South 89°52'37" West 296.63', the West
line North 0°07'23" West 340.0' , approximating 108,583 square feet
as recorded as Entry No. 3291285 on June 8, 1979, in the Office
of Recorder of Salt Lake County, Utah.
SUBJECT TO: (a) easements, restrictions and reservations now of
record, if any; (b) taxes and assessments, general and special,
not now due and payable; and (c) the rights of the public in and to
any parts of the premises lying or being in public roads of alleys
or highways.
EXHIBIT A
ippr'
REMARKS �
�r
Resolution NO,
By• Jennings Phillips, Jr.
Supplementing Resolution No. 58
adopted by the Board of Commissioners
of the City of Salt Lake City, Utah,
authorizing the issuance of$1,000,000
principal amount of said City's
Industrial Development Revenue Bonds,
Series August 1, 1979 (American Parts
System, Inc.Project), authorizing said
City to enter into a mortgage and inden
ture of trust with Walker Bank & Trust
Company and a lease with American
Prated to the board of teromissionen
AND PAD
¢ 7(efff641414
Parts System, Inc., and approving the
form of a guaranty agreement between
American Parts System, Inc. and
Walker Bank& Trust Company.
1
i