RES 1988-35 - 00004385RESOLUTION NO. 35 - 1988
RESOLUTION CONSENTING TO AMENDMENT OF LOAN AND BOND
PURCHASE AGREEMENT RELATING TO LAMAUR, INC., INDUSTRIAL
DEVELOPMENT REVENUE BOND
IT IS HEREBY RESOLVED by the City Council (the "Council ") of the City of
Fridley, Minnesota (the "City "), as follows:
1. Recitals.
(a) Pursuant to a certain Loan and Purchase Agreement, dated as of March
1, 1982 (the "Agreement ") , the City issued its Industrial Development
Revenue Bond to assist in financing a project undertaken by Lamaur, Inc.
(the "Company ").
(b) By letter dated February 25, 1988, the City has received a request
from Norwest Bank Minnesota, N.A. (the "Bank "), to consent to a certain
amendment to the Agreement. The Bank has represented to the City that it
is the owner of the above - described bond, and the Bank has also forwarded
to the City a certain letter dated February 12, 1988, from the Bank to the
Company setting out the terms of such amendment (the "Amendment "). The
Amendment has been executed by the Company and the Bank.
2. Consent to Amendment.
On the basis of the foregoing, the City hereby consents to the Amendment and
authorizes the officers of the City to execute the same on behalf of the City.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 18TH DAY OF
APRIL, 1988
ATTEST:
SHIRLEY A. HAAPALA - CITY CLERK
WI LIAM J. NEE - T OR