097 of 1982 - Amendment of Industrial Dev. Revenue Bond ` ,
RESOLUTION #97, 1982 Q 82-15
MINUTES OF MUNICIPAL COUNCIL
TO ACCOMPANY BOND RESOLUTION
Salt Lake City, Utah
November 2, 1982
The Municipal Council of Salt Lake City, Salt Lake County,
Utah, met in regular public session on the 2nd day of November, 1982,
at the hour of 6 : 00 o' clock P.M. at the regular meeting place of the
Municipal Council in Room 301 in the City and County Building, Salt
Lake City, Utah.
The meeting was duly called to order by the Chairperson of
the Municipal Council with the following members of the Municipal
Council being present, constituting a quorum of the Municipal Council :
Sydney R. Fonnesbeck Chairperson
Ione M. Davis Councilmember
Grant Mabey Councilmember
Ronald J. Whitehead Councilmember
Palmer DePaulis Councilmember
Edward W. Parker Councilmember
Alice Shearer Councilmember
Absent : None
There were also present :
Ted L. Wilson Mayor
Lynda Domino Deputy City Recorder
Roger Cutler City Attorney
Thereupon, the following Resolution was introduced in
written form by Councilmember Parker, was read in full and, pur-
suant to motion duly made by Councilmember Parker and seconded
by Councilmember Whitehead, was adopted by the following vote :
1. 5
Aye : Palmer DePaulis
Ione M. Davis
Ronald J. Whitehead
Sydney R. Fonnesbeck
Grant Mabey
Edward W. Parker
Alice Shearer
Nay: None
The Resolution was thereupon presented to and approved
and signed by the Chairperson of the Municipal Council and was
attested and recorded by the Deputy City Recorder in the official
records of said City. The Resolution is as follows :
[Attached]
(Other business not pertinent to the above appears in
the minutes of the meeting. )
Upon motion duly made and carried, the meeting was
adjourned.
Chairperson
Attested :
Dd/putt City Recorder
[SEAL]
2
STATE OF UTAH )
SS
COUNTY OF SALT LAKE )
I, Lynda Domino, the duly qualified and acting Deputy
City Recorder of Salt Lake City, Salt Lake County, Utah, do
hereby certify, according to the records of said city in my
official possession, that the above and foregoing constitutes a
true and correct copy of excerpts from the minutes of a regular
public meeting of the Municipal Council of Salt Lake City, Salt
Lake County, Utah held on November 2, 1982, including one resolu-
tion adopted at said meeting, as said minutes and resolution
are officially of record in my possession. Said resolution
has not been amended as of the date hereof.
IN WITNESS WHEREOF, I have hereunto subscribed my official
signature and impressed hereon the corporate seal of Salt Lake City,
Salt Lake County, Utah, this 3rd day of November, 1982.
/Ovwou , nI)Iuln"l)
Deputy City Recorder
[SEAL]
RESOLUTION NO. 97
A RESOLUTION SUPPLEMENTING AND AMENDING A
RESOLUTION ADOPTED ON MARCH 161, 1982
(WHICH AUTHORIZED THE INDUSTRIAL DEVELOP-
MENT REVENUE BOND (185 SOUTH STATE PROJECT)
IN THE PRINCIPAL AMOUNT OF $7,650,000) BY
SALT LAKE CITY, SALT LAKE COUNTY, UTAH, AND
RELATED MATTERS.
WHEREAS, pursuant to a Resolution (hereinafter referred
to as the "Bond Resolution" ) duly adopted on March 16, 1982 by the
Municipal Council of Salt Lake City, Salt Lake County, Utah (here-
inafter referred to as the "Issuer" ) , the Issuer has on April 2,
1982 executed and delivered its Industrial Development Revenue
Bond ( 185 South State Project ) in the principal amount of $7,650,000
(the "Bond" ) ;
WHEREAS, the Aetna Casualty and Surety Company (the
"Purchaser") purchased the Bond pursuant to the Bond Purchase
Agreement dated as of March 15, 1982 among the Issuer, the Purchaser
and 185 South State Associates, a Utah limited partnership (the
"Borrower" ) , and the Purchaser is now the sole owner of the Bond;
WHEREAS, the Borrower and the Purchaser have indicated
to the officers of the Issuer that the Bond contains a provision
relating to the earliest possible optional prepayment thereof
which is incorrect and inconsistent with the intentions of the
said parties, and said parties have requested that the Bond be
amended and modified; and
WHEREAS, in order to provide for the amendment and modi-
fication of the Bond it is necessary for the Issuer to adopt this
supplemental Resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL
COUNCIL OF SALT LAKE CITY, SALT LAKE COUNTY, UTAH, as follows :
Section 1. That the form of the Bond contained in
Section 4 of the Bond Resolution be amended by changing the date
"May 1 , 1982" in paragraph 9(a) of the Bond form to the date
"May 1, 1992. "
Section 2. That the Mayor is hereby authorized and
directed to execute and deliver a new Bond (the "Replacement Bond" )
dated and in all respects identical to the outstanding Bond but
amended so as to comply with the provisions of Section 1 hereof,
and the City Recorder is hereby authorized and directed to attest
the Replacement Bond and each is authorized to deliver the Replace-
ment Bond, in exchange for and in substitution for the outstanding
Bond. The seal of the Issuer is hereby authorized and directed
to be affixed to the Replacement Bond.
Section 3. That the Mayor and City Recorder, for and on
behalf of the Issuer be, and each of them hereby is, authorized
and directed to do any and all things necessary to effect the
performance of all obligations of the Issuer under and pursuant to
this Supplemental Resolution, the execution and delivery of the
Replacement Bond and the performance of all other acts of whatever
nature necessary to effect and carry out the authority conferred by
this Supplemental Resolution.
The Mayor and City Recorder be, and they are hereby,
further authorized and directed for and on behalf of the Issuer,
to execute all papers, documents, certificates and other instruments
that may be required for the carrying out of the Authority conferred
by this Supplemental Resolution or to evidence said authority.
Presented at a regular meeting of the City Council of
the Salt Lake City, Salt Lake County, Utah held on the 2nd day of
November, 1982.
This Supplemental Resolution, passed and approved this
2nd day of November, 1982.
airperson-
ATTE ,T:
Pr I i � � � ��
ep ty City Recorder
(SEAL)
I do further certify that the deliberations of the City
Council on the adoption of said Supplemental Resolution were taken
openly; that the vote on the adoption of said Supplemental Resolution
was taken openly; that said meeting was held at a specified time
and place convenient to the public; that notice of said meeting
was duly given; and that said meeting was called and held in strict
accordance with the provisions of all applicable open meeting
laws, and that said Municipal Council has complied with all of the
applicable provisions of said Act and its procedural rules in the
adoption of said Supplemental Resolution.
IN WITNESS WHEREOF, I have hereunto affixed my official
signature and the corporate seal of said Issuer this 3rd day of
November, 1982.
(SEAL) ts . Deputy i Recorder
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