Res 1995 - 19 Approving Amendment to Tax-Exempt BondCITY OF MENDOTA HEIGHTS
DAKOTA COONTY, NlINNFSOTA
RESOLIITION NO. 95- 19
RESOLIITION APPROVING AMENDMENT TO TAX-LXEMPT BOND
THIS RESOLIITION, adopted by the City Council of the City of
Mendota Heights, Minnesota (the "City"), as of the day of
April, 1995.
Yo I T N L S S E T H:
DOHEREAS, the City previously issued its $775,000 Industrial
Development Revenue Bond (Richard B. Shaller Project - Apsco
Products Company, Lessee), No. R-1, dated January 31, 1980 (the
"Tax-Exempt Bond") to Norwest Bank Minnesota, National Association,
formerly known as Northwestern National Bank of St. Paul (the
"Holder"); and
L�SEREAS, the proceeds of the Tax-Exempt Bond were loaned by
the City to Richard B. Shaller (the "Borrower"), pursuant to that
certain Loan Agreement dated as of January 31, 1980, by and between
the City and the Borrower (the "Loan Agreement"), to finance the
acquisition, construction and equipping of the "Project", as
defined in the Loan Agreement; and
WSEREAS, the City, the Borrower and the Holder desire to amend
the Tax-Exempt Bond as set forth in the Amendment No. 1 to Tax-
Exempt Bond attached hereto as Exhibit A(the "Amendment").
NO�P, TSEREFORE, BE IT RESOLVED that the Mayor and the City
Clerk of the City are hereby authorized and directed to execute and
deliver the Amendment for an on behalf of, and in the name of, the
City.
The undersigned hereby certifies that the foregoing resolution was
duly adopted by the City Council of the City of Mendota Heights,
Minnesota at a meeting of the City Council duly noticed and held on
April , 1995.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
By �.,,-� �, �%l��
Charles E. Mertensotto
Mayor
ATTEST:
�.z7��J �%
athleen M. Swanson
City Clerk