File #: 16802    Version: 0 Name: Special Obligations Bonds Series 2006 (Sports Complex Project)
Type: Resolution Status: Passed
File created: 1/20/2009 In control: County Legislature
On agenda: 1/20/2009 Final action: 1/20/2009
Title: A RESOLUTION approving the execution and delivery of Supplemental Trust Indenture No. 1 (the "Supplemental Indenture") to the Trust Indenture dated as of August 1, 2006, between Jackson County, Missouri (the "County"), and Wells Fargo Bank, N.A., as trustee (the "Trustee"), which secures $447,240,000 original principal amount of Jackson County, Missouri, Special Obligation Bonds (Harry S Truman Sports Complex Project) Series 2006, and authorizing certain other actions in connection with the execution and delivery of the Supplemental Indenture.
Sponsors: Scott Burnett
Indexes: Harry S Truman Sports Complex, SPECIAL OBLIGATION BONDS
Attachments: 1. 16802 adopted

  IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI

 

 

Title

A RESOLUTION approving the execution and delivery of Supplemental Trust Indenture No. 1 (the "Supplemental Indenture") to the Trust Indenture dated as of August 1, 2006, between Jackson County, Missouri (the "County"), and Wells Fargo Bank, N.A., as trustee (the "Trustee"), which secures $447,240,000 original principal amount of Jackson County, Missouri, Special Obligation Bonds (Harry S Truman Sports Complex Project) Series 2006, and authorizing certain other actions in connection with the execution and delivery of the Supplemental Indenture.

 

 

Intro

RESOLUTION #16802, January 20, 2009

 

INTRODUCED BY Scott Burnett, County Legislator

 

 

Body

WHEREAS, the County operates pursuant to its county charter (the "County Charter"), and is a political subdivision of the State of Missouri, duly created, organized, and existing under and by virtue of the Constitution and laws of the State of Missouri; and

 

WHEREAS, the County and the Trustee have executed and entered into a Trust Indenture dated as of August 1, 2006 (the "Original Indenture"), for the purpose of issuing and securing $447,240,000 principal amount of Jackson County, Missouri, Special Obligation Bonds (Harry S. Truman Sports Complex Project) Series 2006 (the "Bonds"), for the purpose of providing funds for capital improvements and to provide that the principal of and interest on such special obligation bonds be payable solely from the revenues derived from annual appropriations by the Legislature and other sources as provided in the Original Indenture; and,

 

WHEREAS, the County desires to execute and deliver the Supplemental Indenture for the purpose of amending and supplementing the Original Indenture to correct certain ambiguities and omissions therein; and,

 

WHEREAS, it is hereby found and determined that it is necessary and advisable and in the best interest of the County and of its inhabitants that such amendments and supplements be made to the Original Indenture by and through the execution and delivery of the Supplemental Indenture; and,

 

WHEREAS, the County and the Trustee are authorized under Section 1201 of the Original Indenture, without the consent of the owners of the Bonds, to amend or supplement the Indenture for certain purposes specified therein, subject to the terms and provisions contained in the Original Indenture; now therefore,

 

BE IT RESOLVED by the County Legislature of Jackson County, Missouri as follows:

 

Section 1.                     Authorization of Documents.  The County is hereby authorized to enter into the Supplemental Indenture, in substantially the form attached (copies of which document shall be filed in the records of the County), with such changes therein as shall be approved by the officers of the County executing such document, such officers' signatures thereon being conclusive evidence of their approval thereof.

                     

                     Section 2.                      Execution of Documents.  The County is hereby authorized to enter into and the County Executive is hereby authorized and directed to execute and deliver, for and on behalf of and as the act and deed of the County, the Supplemental Indenture and such other documents, certificates, and instruments as may be necessary or desirable to carry out and comply with the intent of this Resolution.  The Clerk of the County Legislature is hereby authorized to attest to such documents and such other documents, certificates, and instruments as may be necessary or desirable to carry out and comply with the intent of this Resolution.

                     

                     Section 3.                      Further Authority.  The officers, agents, and employees of the County, including the County Executive and the Clerk of the County Legislature, shall be, and they hereby are, authorized and directed to execute all documents and take such actions as they may deem necessary or advisable in order to carry out and perform the purposes of this Resolution, and to carry out, comply with, and perform the duties of the County with respect to the Supplemental Indenture, to make alterations, changes or additions in the documents herein approved, authorized, and confirmed which they may approve, and the execution or taking of such action shall be conclusive evidence of such necessity or advisability.

 

                     

 

 

 

Enacted and Approved

Effective Date:  This Resolution shall be effective immediately upon its passage by a majority of the Legislature.

 

APPROVED AS TO FORM:

 

 

____________________________                                              ______________________________

Chief Deputy County Counselor                                                               County Counselor

 

Certificate of Passage

 

                     I hereby certify that the attached resolution, Resolution #16802 of January 20, 2009, was duly passed on January 20, 2009 by the Jackson County Legislature.  The votes thereon were as follows:

 

                     Yeas ________8_______                                                               Nays ______0________

 

                     Abstaining _____0____                                                               Absent _____1_______

 

 

________________________                                                               ____________________________

Date                                                                                                                                                   Mary Jo Sino, Clerk of Legislature