Title
Resolution to approve an amendment to the Bond Agreement by and between the City of West Allis (the "City"), Swordfish, LLC and Milwaukee Plate Glass Company (each and collectively the "Borrower") U.S. Bank National Association (the "Trustee") and M&I Marshall & Ilsley Bank (the "Original Purchaser").
Body
WHEREAS, in December 1998 the City of West Allis issued $4.9 million in Industrial Development Revenue Bonds to finance the purchase of land and equipment for the construction of Milwaukee Plate Glass building located on the corner of S. 113 St. and W. Greenfield Ave.; and,
WHEREAS, the Borrower has requested the City, the Trustee and the Original Purchaser as the sole bond owner, to amend the Bond Agreement to adjust the interest rate on the bonds without any change to security or position; and,
WHEREAS, the amendment agreement is hereby attached and incorporated herein.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of City of West Allis, Wisconsin that the amendment to the Bond Agreement by and between the City of West Allis (the "City"), Swordfish, LLC and Milwaukee Plate Glass Company (each and collectively the "Borrower") U.S. Bank National Association (the "Trustee") and M&I Marshall & Ilsley Bank (the "Original Purchaser") be an is hereby approved.
BE IT FURTHER RESOLVED that the Mayor and the City Administrative Officer, Clerk/Treasurer be and are hereby authorized and directed to execute and deliver the attached Bond Agreement Amendment on behalf of the City of West Allis.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such substantive changes, modifications, additions and deletions to and from the various provisions of the Application and Agreement, including any and all attachments, exhibits, addendums and amendments, as may be necessary and proper to correct inconsistencies, eliminate ambiguity and otherwise clarify and supplement said provisions to preserve and maintain the gener...
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