ORDINANCE NO. 951350
Authorizing the City of Kansas City, Missouri to amend
certain documents executed in connection with the issuance of its Taxable
Revenue Bonds (GS Technologies Project), Series 1994 (the "Bonds"),
and approving certain other documents and authorizing the City to take certain
other actions with respect to such amendments.
WHEREAS, on November 30, 1994 the City issued the
Bonds in the principal amount of $5,000,000.00 and in connection therewith
entered into a Trust Indenture, dated as of November 1, 1994 (the
"Indenture") between the City and Commerce Bank, N.A., Kansas City,
Missouri, as Trustee, and into a Lease Agreement, dated as of November 1, 1994
(the "Lease"), between the City and GS Technologies Operating Co.,
Inc. ("the Company") as Lessee; and
WHEREAS, the Indenture and the Lease referred to a
certain Loan Agreement dated as of August 30, 1994 between the Company and
General Electric Capital Corporation ("GE Capital") as Agent for the
lenders named therein; and
WHEREAS, the Company will enter into a new loan
agreement (the "New Loan Agreement") with GE Capital as Agent for a
new group of lenders and it is therefore necessary to amend the Indenture and
Lease to reflect such New Loan Agreement and to acknowledge the Company's
assignment of its interest as Lessee under the Lease to GE Capital in such
capacity; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. The City shall, as issuer of the Bonds,
and the officers, agents and employees of the City are authorized and directed
to, take all such actions and to execute such supplemental indentures,
supplemental leases, documents, certificates, and instruments as may be
necessary or appropriate to amend the Indenture and the Lease to reflect the
New Loan Agreement and to acknowledge the effects thereof, including without
limitation, the acknowledgment of the Company's collateral assignment of its
interest as Lessee under the Lease to GE Capital as Agent under the New Loan
Agreement.
__________________________________________________________________
Approved as to form and
legality:
____________________________________
Assistant City Attorney