HomeMy WebLinkAboutR05-RDA Item
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Redevelopment Agency · City of San Bernardino
.~ NclI1It "D" SIneI, Faanh F100r . San IIemInbo, c.Jifamla 92418
(714) 384-S081 FAX (714) 888-9413
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AUGUST 10, 1990
DOANE PRODUCTS COMPANY PROJECT INDUSTRIAL DEVELOPMENi
NOTE OF 1982, FIRST AMENDMENT TO THE PROJECT AGREEMENT
Synopsis of Previous Commission/Council/Committee Action:
08-16-82 Mayor and Common Council adopted Resolution 82-358 providing for the
Issuance of Industrial Development Notes, Issue of 1982, Doane
Products Company Project.
08-16-82 The Mayor and Common Council adopted Resolution 82-359 approving a
Project Agreement with Doane Products Company.
Recommended Motion:
(MAYOR AND COMMON COUNCIL)
(A) To adopt a RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A FIRST AMENDMENT ,TO PROJECT AGREEMENT AMONG THE CITY
OF SAN BERNARDINO;. DOANE PRODUCTS COMPANY; FIRST INTERSTATE BANK OF
TEXAS, N.A.; FIRST NATIONAL 8ANK AND TRUST COMPANY OF JOPLIN; AND
HELLS FARGO BANK, NATIONAL ASSOCIATION RELATING TO THE INDUSTRIAL
DEVELOPMENT REVENUE NOTES OF 1982.
Respectfully Submitted,
Supporting data attached: Yes
Funding requirements: NA
Commission Notes:
Hard:
Project: IDB
1326A
Agenda of: Auqust 20. 1990
Item No.: 5
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S T A F F R E P 0 R T
On August 16, 1982, the Mayor and Common Council adopted Resolution 82-358
providing for the issuance of Industrial Development Notes, Issue of 1982, for
Doane Products Company Project in the amount of $4,500,000 and adopted
Resolution 82-359 approving the Project Agreement with Doane Products Company.
Pursuant to Section 10.03 of the Original Project Agreement, the Project
Agreement may be amended by written agreement of the parties to the terms and
conditions set forth in the Original Project Agreement. Doane Products
Company, First Interstate Bank of Texas and First National Bank and Trust
Company of Joplin have all agreed to and have signed the First Amendment. The
Trustee will sign after approval by the City of San Bernardino.
The First Amendment proposes to amend Section 8.11 of the Original Agreement
by deleting subsections (a) and (b). Subsections (a) and (bl of Section 8.11
in the Original Agreement are as follows:
"(A) The Company agrees that during the term hereof and as long as
any of the City Notes shall be Outstanding, unless the Bank
otherwise shall give its prior written consent, the Company;
(a) will not create, incur, assume or suffer to exist any
Indebtedness except (il the Indebtedness incurred under this Project
Agreement, (ii) Indebtedness (other than for borrowed money) on open
account or under trade acceptances in the ordinary course of
business in connect10n with normal trade obligations, and (iii)
Indebtedness for taxes and other charges to the extent permitted
hereunder;
(bl will not create, assume or suffer to exist any mortgage. lien,
pledge. charge, security interest or encumbrance of any kind upon
any of its properties or assets. whether now owned or hereafter
acquired, except (il liens created by the Deed of Trust, or this
Project Agreement. (ill llens for taxes. assessments and other
governmental charges not yet payable, or the validity of which are
being contested in good faith by approprlate proceedings as provided
herein and as to which adequate reserves have been set aside on the
books of the Company. (iii) deposits or pledges to secure the
payment of workmen's compensation. unemployment lnsurance or other
social security benefits or obligations. publlc or statutory
obligations. surety or appeal bonds or other obligations of a like
general nature incurred 1n the ordinary course of buslness, and (ivl
liens securing Indebtedness permitted by subsection (al hereof;"
Otherwise, the Original Agreement remains unchanged and in full force and
effect.
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1
RESOLUTION NO.
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A FIRST AMENDMENT TO PROJECT AGREEMENT AMONG THE
3 CITY OF SAN BERNARDINO; DOANE PRODUCTS COMPANY; FIRST INTERSTATE
BANK OF TEXAS, N.A.; FIRST NATIONAL BANK AND TRUST COMPANY OF
4 JOPLIN; AND WELLS FARGO BANK, NATIONAL ASSOCIATION RELATING TO
THE INDUSTRIAL DEVELOPMENT REVENUE NOTES OF 1982.
5
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
6 OF SAN BERNARDINO AS FOLLOWS:
7
SECTION 1. The Mayor is hereby authorized and directed to
8 execute on behalf of said City an Agreement among the CITY OF SAN
9 BERNARDINO; DOANE PRODUCTS COMPANY; FIRST INTERSTATE BANK OF
10 TEXAS, N.A.; FIRST NATIONAL BANK AND TRUST COMPANY OF JOPLIN; AND
11 WELLS FARGO BANK, NATIONAL ASSOCIATION, which agreement is
12 attached hereto, marked Exhibit "A", and incorporated herein by
13 reference as fully as though set forth at length.
14
SECTION 2.
The authorization to execute the above-
15 referenced agreement is rescinded if the parties to the agreement
16 fail to execute it within sixty (60) days of the passage of this
17 resolution.
18 I HEREBY CERTIFY that the foregoing resolution was duly
19 adopted by the Mayor and Common Council of the City of San
20 Bernardino at a meeting thereof, held on the
21 day of , 1990, by the following vote, to wit:
22 / / /
23 / / /
24 / / /
25 / / /
26 / / /
27 / / /
28 / / /
DAB:br[Indust.Res]
July 30, 1990
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1 RESOLUTION: AUTHORIZATION TO EXECUTE FIRST AMENDMENT TO PROJECT
AGREEMENT AMONG CITY OF SAN BERNARDINO; DOANE PRODUCTS CO.; FIRST
2 INTERSTATE BANK OF TEXAS, FIRST NATIONAL BANK AND TRUST CO. OF
JOPLIN; AND WELLS FARGO BANK.
3
4
5
6
Council Members:
AYES
NAYS
ABSTAIN
ESTRADA
REILLY
FLORES
7
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
City Clerk
The foregoing resolution is hereby approved this day
of
, 1990.
W. R. HOLCOMB, Mayor
18 City of San Bernardino
19 Approved as to
form and legal content:
20
21
22
23
24
25
26
27
28
JAMES F. PENMAN,
City Attorney
~~)
DAB:br[Indust.Res]
July 30, 1990
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WTD.... ..k.._.:....... m 'DDIl.~ al.!D,:IIt_-'.-r
Thi8 F~t Am8nd1Ient dated a. of June 1, 1990 (th. .Fint
Aa.ndJlIent:.)to the Project Ag1'Ullent dated .. ~f AU9Q8t 1, 1982
(the .0r"i9lnal &gr...-nt.) ~. i. UIOn9 TIIB CI'1'Y OF SAN BDlWtDINO,
CALIFORNIA, . auniClipal C1~rporation orvanized endexi8tin9 under
the la_ of th. Sta~ of califom:ia and th. City Chart.r of .aiel
City (the .City.), DOARBbODl1C'1S COMPANY, duly fonaed and
exbting under th.. ~a_ of the Stao of Mi..ouri (th.
.CoIIpany-), PXJtSTIl'.AkSTATB ~OF ~, R.A., a national
~1l9 allllociaUon (th. -Bank-), .uccu.or by ..rv.r to Alli.d
Bank of Tau, F;ERST RATI~ BANK AND _ST COJIPANY OF JOPLIN,
a naUonal banking ...ociaU~n (along with th. Bank, .oaetia..
benlnafOto coll.cUvely r.f.rred -to .. the -Purcha.er.-), and
1fBLUJ . FARGO BANK, RATIOnJ, ASSOC%ATIOH, a naUonal banking.
a..ociation, .. t:ruat:e. (the .Trullt:e..).
. y .. . . II . .... HI
WHERBAS, pur.uant to the Original Agr.eaent, th. City i8.ued
. iu Induat:rial Dev.lopaent Revanue Not.. of 1982, Doan. Product.
Company Project (tile .City Note..), in th. iniUal aggr.gate
~rincipal amount of $4,500,000, and
WHEREAS, S.ction 10.03 of the Ori9inal Agre..ant provid..
that th. Original Agreaent MY be aaend.d by written agre...nt
. of th. parti.. th.r.to on th. tU1lS and C1ondltion. ..t forth in
th. Original Agre..ant, and
WHERBAS, th. CoIIpany bas requ..ted t:bat th. parti.. to th.
Original &gr...ant IIake c.rtain amendJlanu to th. Original
Agr...ant,
. NOW 'l'BEREFOU, in. consideration of th. pr..i... and the
mutual r.pre..ntationa, covenanu and agr...ants b.r.in and in
the Original Agr....nt, th. parti.. ber.to agr.. a. follow.:
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&1IIPT1!r..w y_
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All tile wora and tenua defined in the O1'i9i1l&1- ....ant
and the City Not.. lindnot otherwbe defined in thi. First
AMn-.nt llhall have the ..anin9s in thi. First bendaent a. are
a.cribed to them in the O1'i9ill&1 ,,_ent or in the city Note.,
a. the ca.e may J:Ie.
........I!r.. Yr_
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Sect:ion 201. Sect:ion 8.11 of the Ori9inal ~t is
uended by deleting .ub..ct:ions (a) and (b) thereof.
Sect:ion 202. 1'his First AIIendJlent llhall .upplement th..
Ori9insl ,Agreement only a., 'specifically provided herein. 1'h.
partie. hereto aCknowledge. an4 agree ~t, except: a. uended and
.upplement:ed by this Fir.t Amendment, the O1'i9insl Agreement
llhall reaain unchanged and in full force and effect in accordance
with the.e terms.
Section 203. 1'he partie. hereto agree to execute such
further dOCUllents, consents, amendments or, other lnst:ruaent. a.
are deemed nec...ary to .tf.ct:, the amendments ..d. by this Fir.t
AIIIendaent.
........I!I'.. nr_
T1 . ~.i . \,....~IF
sect:ion, 301. 1'his First Amendment ..y J:Ie .xecut:ed in any
number of counterpart., eaell of which llhall J:Ie en original,
howev.r all of .uch counterparts llhall together constitute one in
the .... inst:rwaent.
Sect:ion 302. '1'hi. First benda.nt llhall in all re.pect:s
be gov.rned and construed' In accordance with the laws of the
State and the laws of the United sute of AIIerica.
Sect:ion 303. 1'hi. Fir.t AMndaent llhall beCOlle effective
only upon it. execution and delivery by each of the parties
her.to, and until .uch 1:1.e ~all be of no force and eff.ct. .
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%N WI'l'NBSS WIIBRBOF, tha partia. herato hava C&U8ed this
Pint Aaendaent to be exacuted in thair re8pect:iva naae..
Cl'1'Y OF SAN BBRHARDDO,
CALIFORNIA (tha .City.)
By:
Titla:
AftES'r:
By:
Titla:
APPRoVED AS TO FORM
AND LEGAL CONTENT..
... A n DOARB PRODUCTS COJIPANY, a
~ ........1 corporetion (tha
. .)
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:rh~ ~~~PA~a~
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. Tit~SToIAJT SIICItG.TAleY
FIRST IH'RRS'lA'l'B BARK OF
'l'EXAS, ..A., a national
banking a..ociation, .ucce.sor
by .arver to Allied Bank of
Texa. (tha .Bank.) or tha
("Purcba.er")
:rk.,~. .
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FIRST NATIONAL BUK AHD '1'ROST
COMPANY OF JOPLDr, a national
bank1n9 ...ocla~lon (the
whrcbluIerw
WELLS FARqO BUK, NATIONAL
ASSOC%ATIOH, a na~lonal
bankin9 a..ocla~lon (the
wTru.~eeW)
By:
.Tl~le:
.
~he:
Cl
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ACDOWLEDGDtIu4T
8'1'A'1"E OP CALIFORNIA I
I
eov":I."r Op I
On tIU.. day of , lttO, before .., a
notary P\lJ)1!c dUly .........i..ioned, qualifi~ and acting within and
tor the eount:y and Btat_ afore.aid, appeared in penon the
within-~.m.d and ,
Kayor and City C,lel'Jt, re.pectivelY; of the City ot 8ernardfiiO,
California, to... per.onally)cnown, Who .t:atad they vere duly
authorized in their re.pe~ive capacit:i.. to execut:e the
~oregoing inaUuaent for aildin the naae and on behalf of ..id
City, and turth_r .t:at:ad and acJcnowledged that: they bad .0
.igDed, executed and deli.vend the foregoing inat:ruaent: for the
conaiderat:ion, WI.. and purpoli.. ~er_in aent:ioned and ..t: forth.
:eN 1'BB1'DIONY WBIREop, J: bave bereunt:o .et: my band in th.,.
official ...1 thi. day of , lttO.
(SEAL)
My COJIIIIi..ion Expire.:
NOTARY PUBLIC
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STATE OF HISSOU&I I
I
COUNTY OF JASPZ& I
'. On ~i. -1.6..- day of July .' 1990, before .., a
notary publio ~oommi..ion.d, qualified and acting within and
for the County and State afore.aid, appeared in per.on ~e
~it.hln-n..ad R. . C.n.. H... and R..h,r.. 1.. ............,
'~P./PIHAHCK and PRRRJQ~T " re.pectively, of Doane
Producta, a DelavAl'. corporatlon,to .e penonally known, who
stated ~.y were duly authorized.in ~eir respective capacities
to exeoute the foregoing instruaent for and in the name and on
behalf of .aidcorporation, and further .tated and acknowledged
~at they had .o.igned, executed and delivend the foregoing
instruaant for the consideration, use. and purpo.e. therein
I18Dtioned and .et forth.
IN TESTIMONY WHERlOF, I have hereunto .et .y hand in the
official .eal thi. 16th day of July , 1990.
(SEAL)
..
My Commission Expire.:
8-14-93
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STATE OF I
I
COUNTY OF I J
on 1:h~. II/fit day of liAU... , 1110, befon .., a
. notary public. duly cOlllli..ion , qualified and acting "Wi1:hin and
for 1:h. coun;;ay~.. ... S~~.. .af r.... ai. d,. a in ,.on the
within-naaed . .~_. , a .. of
Firat Intentat. 0 Taxa., lI.A., a na 0 ):)ank1ng
. a..ooiatiOl\, to .. penonally known, who. .ta~ h./.he va. duly
. authoria*<<! in hia/her capacity to uecute the foregoing
in.tru..nt for and in the name and Qft ):)ebalf of .aid
a..ooiation, and furth~ atat.ls and acJciloWled9ed that he/ah. bad
.0 ail)Jled, executed. and d.U".n4 the f0r890Ul9 inatrullent for
the con.id.ration, ua.. and PUrPQ... 1:her.in aentioned and ..t:
forth.
o
eKA1HERINE o.UNDQUIST
. . . ....., Mlir,...." '-
i\ .,-. . ,...
. -2D.UN
F, I ba~. nunt:o ..t: ay hand in the
day of _'AU. , litO.
.
~~m"d
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My COIIIId.aion Bxpiru:
11- 20-42.
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STATE OF n..ourl I
I
COtm'l'Y OF Junr I
On tIli. ...l.8.th...- day of ~, 1110, before .., a
notary public dUlY (!....i..ionei!~-. ~ and act:inv ."ithin and
for th. County. and state afo~id, appear_ in ~on th.
wi thin-nailed II.cmald J'. ~. . . . , Senior Vice Hesident of
Fir.t: National Bank ~t CoIIpany of Jop n, ~ ..
panonally known,.. 1iIbo .tat~. b.~ ... duly authorized in
bb}lPlll capacity to u.cut:. th41 foravoinv 1ut:rullent for and in
th. n-.. and. on behalf of add a..ociation, and furth.r .tated
a~.cknowledg_ ~t b..... bad 80. aiped, ex.cuted and
d.liv.red th. fO%'a9olnt' 1ut:rullent: for t:ba couid.ration, u...
and purpo... t:har.in IIaIltionad and ..t forth. .
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IN '1'BS1'IMONY WHEREOF, I bav. bereunto _t ay band in the
official .eal thi. 18th day of .Julv , 1110.
.~~..
RQII*, KnIUI NotIry PubIio
8tafI of MIIIcuI. '11'''' Clxdy
JIIel It" .....-.7. W4
(SEAL)
My ~ftmmi..ion Expire.:
June 7. 1994
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STATE OF
COUNTY OF
I
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On thi. day of , 1VVO, before .e, a
notary public duly cOlllll!8.ioned, qualil1.s and actin9 "ithin and
for the COUnty and State afore.aid, appeared in penon the
within-nailed and ,
. and '. , re.pectively,
ot Well. FaZ'Vo Bank, to _ per.onally known, who .tatad they were
duly author1&edin tbeir re.pective capaoitie. ~ exec;:ute the
toregoing lnatrullant for anlS' in . the ... and on behalf of .aid
...ociation, .nd fUrther ataq4 and aoJcnowledged that they bad .0
aigned, executed and delivered tbe foregoing inaUuaant tor the
conaideratiOn, ae. and purpo... therein 1IIentioned and ..t forth.
XN TESTDlONY WHEREOF, X bave hereunto aat Ill' band in the
offioial a..l thia day of , lVVO.
.
. NOTARY PDBLXC
(SEAL)
o My COIIIII!8aion Expire.:
cl"""I_\fltll~\l"".dDc
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