077 of 1982 - Amending provision of Sale of Series 1982 Series Bonds - Airco, Inc. Project RESOLUTION #77, 1982 C'.^:ce Q 82-28
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Salt Lake City, Utah
August 10, 1982
The Municipal Council of Salt Lake City, Salt Lake
County, Utah, met in regular public session on the tenth day of
August, 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:
Sidney Reed Fonnesback Chairperson
Ronald J. Whitehead Councilmember
Grant Mabey Councilmember
Palmer DePaulis Councilmember
Alice Shearer Councilmember
Ione M. Davis Councilmember
Edward W. Parker Councilmember
Absent: None
There were also present:
Ted L. Wilson Mayor
Kathryn Marshall City Recorder
Roger Cutler City Attorney
After the minutes of the preceding meeting had been
duly read and approved, the City Recorder presented to the
Municipal Council an affidavit evidencing the giving of
not less than twenty-four (24) hours public notice of the
agenda, date, time and place of the August 10, 1982, meeting
of the Municipal Council in compliance with the requirements
of Section 52-4-6(2), Utah Code Annotated, 1953, as amended, by
(1) posting written notice of the meeting at the principal of-
fice of the Municipal Council, and (2) providing notice to at
least one newspaper of general circulation within the general
geographic jurisdiction of said city, or to a local media cor-
respondent. The affidavit was ordered recorded in the minutes
of the meeting and is as follows:
-2-
STATE OF UTAH )
COUNTY OF SALT LAKE )
I, the undersigned, the duly qualified City Recorder
of Salt Lake City, Salt Lake County, Utah, do hereby certify
according to the records of said city in my official possession,
and upon my own knowledge and belief, that in accordance with
the requirements of Section 52-4-6(2) , Utah Code Annotated,
1953, as amended, I gave not less than twenty-four (24) hours
public notice of the agenda, date , time and place of the August
103, 1982, public meeting held by the Municipal Council of Salt
Lake City, Salt Lake County, Utah, by :
(a) causing a Notice of Public Meeting to be posted
at the principal office of the Municipal Council at Room 211,
City and County Building, Salt Lake City, Utah, on August 6,
1982, at least twenty-four (24) hours before the convening of
the meeting, in the form attached hereto as Exhibit A ; said
Notice of Public Meeting having continuously remained so posted
and available for public inspection during regular office hours
until the convening of the meeting; and
(b) causing a copy of the Notice of Public Meeting in
the form attached hereto as Exhibit A to be provided on August 6,
1982, at least twenty-four (24) hours before the convening of the
meeting, to The Salt Lake Tribune , a newspaper of general circu-
lation within the geographic jurisdiction of said city, and to
each local media correspondent , newspaper , radio station or
-3-
television station which has requested notification of meetings
of the Municipal Council.
IN WITNESS WHEREOF, I have hereunto subscribed my of-
ficial signature and impressed hereon the official seal of Salt
Lake City, Salt Lake County, Utah, this day of August, 1982.
CitytRcrder ,
SaltCity,
Salt Lake County, Utah
[SEAL]
-4-
Thereupon, after the conduct of other business not
pertinent to the following, the following resolution was intro-
duced in written form by Councilmember Davis, was read in
full, and, pursuant to motion duly made by Councilmember Davis
and seconded by Councilmember Whitehead, was adopted by the
following vote:
Aye: Ronald J. Whitehead
Grant Mabey
Palmer DePaulis
Alice Shearer
Ione M. Davis
Edward W. Parker
Sidney Reed Fonnesbeck
Nay: None
The resolution was thereupon presented to and approved
and signed by the Mayor in open meeting, was signed by the Chair-
person of the Municipal Council and was attested and recorded by
the City Recorder in the official records of said City. The
resolution is as follows:
(Other business not pertinent to the above appears in
the minutes of the meeting.)
Pursuant to motion duly made and carried, the meeting
of the Municipal Council was adjourned.
S.-
Chairman, Municipal Council
Attest:
City Recorder
-5-
STATE OF UTAH )
COUNTY OF SALT LAKE )
I, Kathryn Marshall, the duly qualified 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 August 10 ,
1982 , including a resolution 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 VMEREOF, I have hereunto subscribed my
official signature and impressed hereon the corporate seal of
Salt Lake City, Salt Lake County, Utah, this ��day of August,
1982.
LXAW-
C y Recorder
[SEAL]
A RESOLUTION AMENDING THE PROVISIONS PERTAINING
TO THE TERMS OF THE SALE OF THE INDUSTRIAL
DEVELOPMENT REVENUE BONDS (AIRCO, INC. PROJECT)
SERIES 1982 OF SALT LAKE CITY, SALT LAKE COUNTY,
UTAH OF A CERTAIN RESOLUTION AUTHORIZING THE
FINANCING BY SALT LAKE CITY, SALT LAKE COUNTY,
UTAH OF THE ACQUISITION, CONSTRUCTION AND
INSTALLATION OF CERTAIN MANUFACTURING FACILITIES
FOR AIRCO, INC. WITH THE PROCEEDS OF SAID BONDS;
AND RELATED MATTERS.
WHEREAS, this Municipal Council did on August 3, 1982
adopt a Resolution (the "Bond Resolution" ) authorizing the issuance
of the Industrial Development Revenue Bonds (Airco, Inc. Project )
Series 1982 (the "Bonds" ) of the Salt Lake City, Salt Lake County,
Utah (the "Issuer" ) in the aggregate principal amount of $3,060,000
to finance the cost of acquiring, constructing and installing
certain facilities for use by Airco, Inc. , a Delaware corporation
(the "Company" ) in the assembly and manufacture of electrode beam
and cathode sputtering vacuum equipment (the "Project") located
within Salt Lake City, Utah; and
WHEREAS, the Bond Resolution provided for the sale of the
Bonds to Drexel Burnham Lambert Incorporated (the "Underwriter")
at a price equal to 98. 75% of the principal amount thereof plus
accrued interest from the date thereof to, but not including, the
date of delivery thereof pursuant to a Bond Purchase Agreement
among the Issuer, the Company and the Underwriter; and
WHEREAS, the Underwriter has since advised the Company
and the Issuer that the sale price of the Bonds to it will be equal
to or greater than 97. 75% of the principal amount thereof plus
accrued interest as aforesaid;
NOW, THEREFORE, Be It and It Is Hereby Resolved by the
Municipal Council of Salt Lake City, Salt Lake County, Utah as
follows:
1. That Section 9 of the Bond Resolution is hereby
amended to read as follows:
119. That the Mayor or any other officer of the Issuer be
and they hereby are, authorized, empowered and directed to issue
and sell to the Underwriter, or its order, the Bonds in an aggregate
principal amount of $3,060,000 at a price equal to or greater than
97. 75% of the principal amount thereof plus accrued interest from
the date thereof to, but not including, the date of delivery, and
the Mayor or City Recorder of the Issuer are hereby authorized to
execute and deliver the Bond Purchase Agreement, in substantially
y
the form before the August 3, 1982 meeting of this Municipal Council
and then approved, with any changes necessary to reflect the
provisions of this Resolution, or with such other changes therein
as shall be approved by the officer of the Issuer executing the
same, his execution thereof to constitute conclusive evidence of his
approval of any and all changes or revisions therein from the form
of Bond Purchase Agreement before the August 3, 1982 meeting of
this Municipal Council. "
2. That neither this Resolution nor the Bond Resolution
is to be published pursuant to the provisions of Section 11-17-16
of the Act .
3. That all terms of the Bond Resolution not explicitly
amended by this Resolution are hereby validated, ratified and
confirmed.
4. That immediately after its adoption, this Resolution
shall be signed by the Chairman of the Municipal Council and the
City Recorder, shall be presented to the Mayor, who shall evidence
his approval by signing said Resolution, shall be recorded by the
City Recorder in a book kept for that purpose, and shall take
immediate effect.
PASSED AND APPROVED this loth day of August, 1982.
-,� �M" M1� ,
Chairman of the Municipal Council,
Salt Lake City, Salt Lake County,
[SEAL] Utah
Attested and Countersigned:
Acting qi y ecorder, Salt Lake
City, S t Lake County, Utah
Approved:
Mta r, Salt Lake City, SalT Lake
County, Utah
Approved as to form:
Salt Lake City Attorney
By