86 of 1980 - RESOLUTION APPROVING THE FINAL FORM OF THE LOAN AGREEMENT, TRUST INDENTURE. PURCHASE CONTRACT AND CE APPROVED AS TO FORM SnN
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RESOLUTION OF SALT LAKE CITY
STATE OF UTAH
No. 86 of 1980
RESOLUTION APPROVING THE FINAL FORM OF THE LOAN AGREEMENT,
TRUST INDENTURE. PURCHASE CONTRACT AND CERTAIN CLOSING DOCUMENTS
USED IN CONNECTION WITH ISSUANCE OF $1,655,000.00 PRINCIPAL AMOUNT
OF INDUSTRIAL DEVELOPMENT REVENUE BONDS OF SALT LAKE CITY, UTAH
(the City) , WHICH BONDS WERE PREVIOUSLY APPROVED BY A RESOLUTION
OF THE CITY, THE PROCEEDS OF WHICH WILL BE USED FOR FINANCING THE
ACQUISITION AND/OR CONSTRUCTION OF A WAREHOUSE AND DISTRIBUTION
FACILITY WITH APPURTENANT EQUIPMENT FOR USE BY R S SUPPLY COMPANY
OF CALIFORNIA.
WHEREAS, City previously adopted a resolution dated
December 2, 1980, approving the issuance of industrial revenue
bonds consisting of Series of 1980 aggregating $1,655,000.00
principal amount dated December 1, 1980 (R S Supply Company of
California Project), the procees of which will be used to finance
the acquisition and/or construction of a warehouse and distri-
bution facility for use by R S Supply Company of California at a
site located in Salt Lake City, Utah;
WHEREAS, the aforesaid Resolution approved in summary
the terms of the Loan Agreement, the Trust Indenture, the Purchase
Contract and other related documents to be used in connection with
the closing of the sale of the Bonds authorized thereby; and
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WHEREAS, the Purchase Contract was approved as to form,
executed and delivered on December 10, 1980, and the Loan Agree-
ment, the Trust Indenture and all other related closing documents
were approved as to form, executed and delivered on December 15,
1980; and
WHEREAS, the bond attorneys have requested that the City
Council approve the final form of the principal documents used in
said bond closing and ratify the execution thereof by officers of
the City.
NOW, THEREFORE, BE IT RESOLVED by the Council of Salt
Lake City:
The City hereby approves the form of the Loan Agreement,
the Trust Indenture and the Purchase Contract which have been
prepared by bond counsel and which have been reviewed, approved
and recommended by the City Attorney and executed and delivered
by officers of the City.
The City hereby ratifies the execution and delivery by
officers of the City of the Loan Agreement, the Trust Indenture,
the Purchase Contract and all related closing documents heretofore
approved by the City Attorney and executed and delivered by the
officers of the City.
This resolution is deemed to be a part of and pursuant
to the aforesaid Resolution dated as of December 2, 1980. This
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resolution, as incidental to and in confirmation of said Resolution,
need not be published and is effective as of December 10, 1980
as to the Purchase Contract and as of December 15, 1980 as to the
Loan Agreement, the Trust Indenture and all other related closing
documents.
PASSED AND ADOPTED by the Council of Salt Lake City
this 18th day of December, 1980.
SALT LAKE CITY COUNCIL
By ' -�LC�C���
Ro ald J. W .ite ead, Chairman
ATTEST:
Mildred V. Higham, X1 corder
SALT LAKE CITY
Ted L. Wilson, r
ATTEST:
Mildred V. Higham, corder
Resolution No.
By City Council
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Approving the final form of the Loan
Agreement, Trust Indenture, Purchase
Contract and certain closing documents
used in connection with issuance of
$1,655,000.00 principal amount of
Industrial Development Revenue Bonds
for R S Supply Company of California.
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