HomeMy WebLinkAboutRes1993-149
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Sponsored by: Klinkner
CITY OF SEWARD, ALASKA
RESOLUTION NO. 93-149
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, APPROVING THE REFINANCING OF
THE SPRING CREEK CORRECTIONAL FACILITY BY THE STATE
OF ALASKA BY AMENDMENT OF THE EXISTING AGREEMENT
OF LEASE AND EXISTING ASSIGNMENT OF LEASE AND SECURITY
AGREEMENT AND PROVIDING FOR RELATED MATTERS
WHEREAS, the State of Alaska (the "State") and the City of Seward, Alaska (the
"City") entered into an Agreement of Lease, dated as of October 1, 1985 (the "Lease"),
providing for the construction of a correctional facility located in Seward, Alaska,
commonly known as the Spring Creek Correctional Facility (the "Project"); and
WHEREAS, the terms of the Lease provide for the State to pay rent to the City
at the times and in the amounts as specified in the Lease; and
WHEREAS, the City assigned its rights under the Lease to Rainier National Bank
as trustee pursuant to the terms of a Trust Indenture and Assignment of Lease dated as
of October 1, 1985 (the "Indenture"); and
WHEREAS, certificates of participation in the Lease (the COPs") evidencing the
right to receive payments from the State pursuant to the Lease were sold; and
WHEREAS, the City and the State affected the defeasance of the COPs under the
terms and conditions of a First Supplemental Trust Indenture and Assignment of Lease,
dated as of May 28, 1987 (the "First Amendment"), by entering into a new Agreement of
Lease, dated May 28, 1987 (the "Refinancing Lease"), and assigning the City's interest in
the Refinancing Lease for value; and
WHEREAS, Ford Motor Credit Company ("FMCC") purchased the City's interest
in the Refinancing Lease pursuant to the Assignment of Lease and Security Agreement,
dated May 28, 1987 (the "Refinancing Assignment"), and is currently entitled to receive
all payments made by the State pursuant to Refinancing Lease; and
WHEREAS, the Project can no be refinanced to lower the rent by amending the
payment schedule to reflect a lower interest rate acceptable to FMCC and such
amendment will be viewed under federal tax law as a refinancing and will generate
present value savings for the benefit of the State of Alaska; and
WHEREAS, Alaska Statutes 36.30.080 authorizes the State to refinance lease
purchase obligations without legislative approval; and
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 93-149
WHEREAS, the State Bond Committee of the State of Alaska has by resolution
passed September 17, 1993, attached hereto as Exhibit A, approved the refinancing of the
Project (the "State Resolution"); and
WHEREAS, the City is agreeable to refinancing the existing financing of the
Project by amendment of the Refinancing Lease and the Refinancing Assignment;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, as follows:
Section 1. That the refinancing of the Project by amendment of the Refinancing
Lease and Refinancing Assignment will serve the public interest and is hereby approved
in accordance with the terms set forth in the State Resolution; provided that all costs and
expenses of the refinancing, including but not limited to any transferred proceeds
penalty, shall be the responsibility of the State and further provided that all expenses
incurred by the City in the refinancing shall be the responsibility of the State.
Section 2. That the form and content of the Amendment to the Refinancing Lease
and the Amendment to the Refinancing Assignment, attached hereto as Exhibits Band
C respectively, be and the same hereby are in all respects authorized, approved and
confirmed, and the Mayor, Manager or Deputy City Manager by and each hereby is
authorized, empowered and directed to execute and deliver each said document to the
counterparty for and on behalf of the City in substantially the form and content now
before this meeting but with such changes, modifications, additions and deletions therein
as shall to them seem necessary, desirable or appropriate, the execution thereof to
constitute conclusive evidence of the approval of any and all changes, modifications,
additions or deletions therein from the form and content of the said documents now
before the meeting,; and that, from and after the execution and delivery of the said
documents, the Mayor, Manager, Deputy City Manager and the Clerk of the City are
hereby authorized, empowered and directed to do all such acts and things to execute all
documents as may be necessary to carry out and comply with the provisions of the
documents as executed.
Section 3. That the Mayor, Manager, Deputy City Manager and the Clerk of the
City or any other person authorized by the City be and each hereby is authorized to
execute and deliver for and on behalf of the City any and all additional certificates,
documents, opinions or other papers and perform all other acts as they may deem
necessary or appropriate in order to implement and carry out the intent and purposes
of this Resolution.
Section 4. That the provisions of this Resolution are hereby declared to be
separable and if any section, phrase or provision shall for any reason be declared to be
EXHIBIT A
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Resolution of state Bond Committee,
state of Alaska
Approving Refinancing
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ALASKA STATE BOND COMMITTEE
RESOLUTION NUMBER 93-6
SPRING CREEK CORRECTIONAL FAeILITY LEASE REFINANCING
WHEREAS, the State of Alaska (the "State") and the City of
Seward, Alaska (the "City"), entered into an Agreement of Lease,
dated as of October l, 1985 (the "Lease"), providing for the
construction of a correctional facility located in Seward, Alaska
commonly known as the Spring Creek Correctional Facility (the
"Project"); and
WHEREAS, the terms of the Lease provide for the State to pay
rent to the City at the times and in the amounts as provided in
the Lease; and
WHEREAS, the City assigned its rights under the Lease to
Rainer National Bank as trustee pursuant to the terms of a Trust
Indenture and Assignment of Lease, dated as of October 1, 1985
(the "Indenture"); and
WHEREAS, certificates of participation in the Lease (the
"COPs") evidencing the right to receive payments from the State
pursuant to the Lease were sold; and
WHEREAS, the City and the State defeased the COPs under the
terms and conditions of a First Supplemental Trust Indenture and
Assignment of Lease, dated as of May 28, 1987 (the "First
Amendment"), by entering into a new Agreement of Lease, dated May
28, 1987 (the "Refinancing Lease"), and assigning the City's
interest in the Refinancing Lease for value; and
WHEREAS, Ford Motor Credit Company ("FMCC") is the entity
that purchased the City's interest in the Refinancing Lease
pursuant to the Assignment of Lease and Security Agreement, dated
May 28, 1987, and is the entity currently entitled to receive all
payments made by the State pursuant to Refinancing Lease; and
WHEREAS, the Project can now be refinanced to lower the rent
by amending the payment schedule to reflect a lower interest rate
acceptable to FMCC and that such amendment will be viewed under
federal tax law as a refinancing and will generate present value
savings for the benefit of the State of Alaska; and
WHEREAS, Alaska Stat. 36.30.080 authorizes the State to
refinance lease purchase obligations without legislative
approval; and
NOW, THEREFORE, BE IT RESOLVED by the State Bond Committee
of the State of Alaska, as follows:
1. The Committee has determined that the refinancing of
the Refinancing Lease by amendment under the proposal submitted
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by FMCC, or its agent, as attached hereto as exhibit A, is in the
best interest of the state.
2. The total principal component of rent under the amended
Refinancing Lease will be adjusted to an amount not to exceed
$40,500,000 to cover all costs associated with the refinancing,
including, but not limited to, the premium payable to FMCC for
the exercise of the right to refinance the Refinancing Lease, the
transferred proceeds penalty payable to the federal government,
counsel fees of FMCC, counsel fees of the state, financial
advisor fees, accountant verification costs, escrow or trustee
fees, title insurance.
3. The proposal submitted by FMCC provides the state with
the flexibility to postpone setting an interest rate on the
amended Refinancing Lease until such time that the state
determines that it is in the best interest of the state to so fix
the interest rate. The Debt Manager of the state is hereby
authorized to fix the interest rate at such time and at such rate
as he determines so long as such rate does not exceed five and
one-half percent (5.5%) per annum.
4. The Debt Manager of the state and all other appropriate
state officials are hereby directed to assist the Commissioner of
the Department of Administration in the amendment of the
Refinancing Lease in accordance with this Resolution. The Debt
Manager of the state and all other appropriate state officials
are hereby authorized to execute all documents necessary to cause
the amendment of the Refinancing Lease.
5. This Resolution shall be in full force and effect upon
passage.
IN WITNESS WHEREOF, the Committee has caused these presents
to be signed in its name and on its behalf by its Chairman and
Members all as of the l7th day of September, 1993.
Paul Fuhs, Chairman
Darrel J. Rexwinkel, Member
Nancy Bear Usera, Member
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EXHIBIT A
Refinancing Proposal
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EXHIBIT B
Form of Amendment to Agreement to Lease
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FIRST AMENDMENT TO AGREEMENT TO LEASE
Spring Creek Correctional Facility
This First Amendment to Agreement to Lease (the
"Amendment to Lease"), dated as of October 1, 1993, and entered
into between the City of seward, Alaska ("city"), and the State
of Alaska, acting through its Department of Administration
("state"), amends that certain Agreement to Lease, dated May 28,
1987 (the "1987 Lease"), between the City, as lessor thereunder,
and the state, as lessee thereunder.
WITNESSETH:
WHEREAS, the State of Alaska (the "State") and the City
of Seward, Alaska (the "City"), entered into an Agreement of
Lease, dated as of October 1, 1985 (the "1985 Lease"), the State
and the City entered into the 1985 Lease providing for the
construction of a correctional facility located in Seward,
Alaska, commonly known as the spring Creek Correctional Facility
(the "Project"), located on the property set forth in Exhibit A;
and
WHEREAS, the terms of the 1985 Lease provide for the
State to pay rent to the City at the times and in the amounts as
provided in the 1985 Lease; and
WHEREAS, the City assigned its rights under the 1985
Lease to Rainer National Bank as trustee pursuant to the terms of
a Trust Indenture and Assignment of Lease, dated as of October 1,
1985 (the "Indenture"); and
WHEREAS, certificates of participation in the 1985
Lease (the "1985 COPs") evidencing the right to receive payments
from the State pursuant to the 1985 Lease were sold; and
WHEREAS, the City and the State defeased the 1985 COPs
under the terms and conditions of a First Supplemental Trust
Indenture and Assignment of Lease, dated as of May 28, 1987 (the
"First Amendment"), by entering into a new Agreement of Lease,
dated May 28, 1987 (the "l987 Lease"), recorded on May 27, 1987,
at Book 47, Page 347, Records of the Seward Recording District,
Third Judicial District, State of Alaska, and assigning the
City's interest in the 1987 Lease for value; and
WHEREAS, Ford Motor Credit Company ("FMCC" or
"Assignee") is the entity that purchased the City's interest in
the 1987 Lease pursuant to the Assignment of Lease and Security
Agreement, dated May 28, 1987 (the "1987 Assignment"), recorded
on May 27, 1987, at Book 47, Page 399, Records of the Seward
Recording District, Third Judicial District, State of Alaska, and
is the entity currently entitled to receive all payments made by
the State pursuant to 1987 Lease; and
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WHEREAS, the Project can now be refinanced to lower the
rent by amending the payment schedule to reflect a lower interest
rate acceptable to FMCC and that such amendment will be viewed
under federal tax law as a refinancing and will generate present
value savings for the benefit of the State of Alaska; and
WHEREAS, pursuant to Alaska Stat. ~ 36.30.080
authorizes the State to refinance lease purchase obligations
without legislative approval; and
WHEREAS, the City agreeable to refinancing the existing
financing of the Project by amendment of the 1987 Lease and the
1987 Assignment;
NOW, THEREFORE, for and in consideration of the
promises hereinafter contained, the parties hereby agree as
follows:
section 1. Covenants of State. State represents,
covenants and warrants for the benefit of City and any Registered
Owners (as hereinafter defined) as follows:
(a) State is the State of Alaska, Department of Administration,
and has full power and authority to enter into this
Amendment to Lease and the transaction contemplated hereby
and to perform all of its obligations hereunder.
(b) State has been duly authorized to execute and deliver this
Agreement by proper action by its governing body, or by
other appropriate official approval, and all requirements
have been met and procedures have occurred in order to
ensure the validity and enforceability of this Amendment to
Lease. This Agreement is conditioned upon the delivery to
City of an executed opinion of the Attorney General of the
State of Alaska in the form satisfactory to the City and of
the special counsel to the State in the form satisfactory to
the City.
(c) State will comply with all applicable provisions of the
Internal Revenue Code of 1986, as amended (the "Code"),
including Sections 103 and 148 thereof, and the regulations
of the Treasury Department thereunder, from time to time
proposed or in effect, in order to maintain the
excludability from gross income for federal income tax
purposes of the interest component of the Rents, as well as
rents under the 1985 Lease.
FIRST AMENDMENT TO LEASE -- Page 2
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(d) state covenants and agrees that it will use the proceeds of
the Agreement as soon as practicable and with all reasonable
dispatch for the purpose for which the Agreement has been
entered into, and that no part of the proceeds of the
Agreement shall be invested in any securities, obligations
or other investments nor used, at any time, directly or
indirectly, in a manner which, if such use had been
reasonably anticipated on the date of issuance of the
Agreement, would have caused any portion of the Agreement to
be or become "arbitrage bonds" within the meaning of section
103(b) (2) or section l48 of the eode and the regulations of
the Treasury Department thereunder proposed or in effect at
the time of such use and applicable to obligations issued on
the date of issuance of the Amendment to Lease.
(e) State is not currently in default under the terms of section
5.01 of the 1987 Lease.
section 2. Definitions. All capitalized terms used
and not defined herein shall have the meanings assigned to them
in the 1987 Lease.
section 3. Fundinq of Cost and Expenses. This
Amendment to Lease is conditioned upon deposit by FMCC with an
escrow agent the amount set forth in Exhibit C, to pay all costs
associated with this Amendment to Lease and the transaction
contemplated hereby. Upon such deposit, the terms of this
Amendment to Lease shall become effective. City acknowledges
that it has reviewed the attached Exhibit C and that the amounts
attributable to the city's costs and expenses, including its
counsel, is sufficient to cover its costs and expenses. Upon
payment to city and its counsel the amount so stated, city and
its counsel shall have no further rights to payment; provided
that the foregoing does not release State of its obligation to
cause to be paid all other costs and expenses of this Amendment
to Lease and the transaction contemplated hereby, including but
not limited to the costs and expenses set forth in Exhibit C.
FIRST AMENDMENT TO LEASE -- Page 3
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section 4. Amendment of Schedule of Rent. The 1987
Lease shall be amended by insertion of Exhibit B-1 attached
hereto in lieu of Exhibit B-1 of the 1987 Lease. The principal
component has been increased to reflect the financing of a l.5%
premium payment to FMCC, as well as all costs and expenses of the
refinancing set forth in Exhibit C.
section 5. Amendment upon Partial Prepavment. The
last sentence of section 6.04(c) is deleted and the following is
inserted in lieu thereof:
Any partial prepayment of Rent shall be applied to
reduce each future Rent Payment such that Rent payments
shall be recalculated on the basis of a level debt
service on the reduced principal amount at the interest
rate of % per annum, compounded , with
a final Rent payment on , 2006.
Section 6. Amendment of Pavment Instructions.
payment instructions set forth in the first paragraph of
4.01 of the 1987 Lease be amended as follows:
The
section
Unless the Assignee shall otherwise designate, payments
shall be made by wire transfer to:
section 7. Notices. The addresses for notices under
section 6.09 of the 1987 Lease shall be amended as follows:
Ford Motor Credit Company
FIRST AMENDMENT TO LEASE -- Page 4
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section 8. Interest of Assiqnee. The City
acknowledges that its right to receive Rent payable under the
1987 Lease as amended by this Amendment to Lease has been
assigned to Assignee in consideration of Assignee's providing
funds to enable the City and the state to advance refund the 1985
COPs and effect the refinancing of the 1987 Lease and that
payment of Rent, as amended by this Amendment to Lease, shall be
made directly to Assignee. Accordingly all of the covenants and
agreements of the city and the State set forth in the 1987 Lease
and this Amendment to Lease are hereby declared to be for the
benefit of Assignee. The City pledges, assigns and transfers its
rights under the 1987 Lease and this Amendment to Lease, together
with its rights to enforce the 1987 Lease and this Amendment to
Lease, to Assignee pursuant to the 1987 Assignment as amended by
the First Amendment to Assignment of Lease and Security
Agreement, dated as of the date hereof, between the City, state
and FMCC, and after such pledge, assignment, and transfer, the
1987 Lease and this Amendment to Lease shall not be terminated,
modified or changed by the State or the City, except in the
manner and subject to the conditions permitted in the 1987 Lease.
section 9. Applicabilitv of 1987 Lease Provisions.
Unless otherwise amended or deleted herein, all other provisions
of the 1987 Lease shall remain in effect.
Section 10. Bindinq Effect. This Amendment to Lease
shall inure to the benefit of and shall be binding upon City,
state and their respective successors and assigns.
Section 11. Severabilitv. In the event any provision
of this Amendment to Lease shall be held invalid or unenforceable
by any court of competent jurisdiction, such holding shall not
invalidate or render unenforceable any other provision hereof.
Section 12. Execution in Counterparts. This Amendment
to Lease may be simultaneously executed in several counterparts,
each of which shall be an original and all of which shall con-
stitute but one and the same instrument.
Section 13. Applicable Law. This Amendment to Lease
shall be governed by and construed in accordance with the laws of
the State of Alaska. Venue for any litigation shall be the
Superior Court for the State of Alaska, Third Judicial District,
at Anchorage, Alaska.
Section 14. Captions. The captions or headings in
this Amendment to Lease are for convenience only and in no way
define, limit or describe the scope or intent of any provisions
or sections of this Amendment to Lease.
FIRST AMENDMENT TO LEASE -- Page 5
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IN WITNESS WHEREOF, city and State have caused this
Amendment to Lease to be executed in their names by their duly
authorized representatives as of the date first above written.
LESSOR: CITY OF SEWARD, ALASKA
By
Name:
Title:
Address: P.O. Box 167
Seward, Alaska 99664
LESSEE: STATE OF ALASKA,
DEPARTMENT OF ADMINISTRATION
By
Nancy Bear Usera
Commissioner
Address: State of Alaska
Department of Administration
10th Floor
State Office Building
Juneau, Alaska 99811
Approved as to form:
Barbara Blasco
Assistant Attorney General-State of Alaska
Consented thereto in accordance with
section 1.04 of the 1987 Lease:
FORD MOTOR CREDIT COMPANY
Robert C. Chambers
Authorized Agent
FIRST AMENDMENT TO LEASE -- Page 6
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STATE OF ALASKA
ss.
THIRD JUDICIAL DISTRICT
On this ____ day of , 1993, personally
appeared before me who, being first duly
sworn, did say that he/she is the of
the City of Seward, Alaska, and acknowledged that the foregoing
instrument was signed on behalf of the City of Seward, Alaska,
that he/she had authority to execute said instrument and
acknowledged said instrument to be said City's voluntary act and
deed.
[SEAL]
Printed Name:
Notary Public for Alaska
My Commission Expires:
STATE OF ALASKA
ss.
FIRST JUDICIAL DISTRICT
On this ____ day of , 1993, personally
appeared before me Nancy Bear Usera, who, being first duly sworn,
did say that she is the Commissioner of the State of Alaska,
Department of Administration, and acknowledged that the foregoing
instrument was signed on behalf of the State of Alaska,
Department of Administration and acknowledged said instrument to
be its voluntary act and deed.
[SEAL]
Printed Name:
Notary Public for Alaska
My Commission Expires:
FIRST AMENDMENT TO LEASE -- Page 7
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STATE OF
ss.
On this day of , 1993, personally
appeared before me Robert C. Chambers, who, being first duly
sworn, did say that he is the Authorized Agent of Ford Motor
Credit Company, and acknowledged that the foregoing instrument
was signed on behalf of Ford Motor Credit Company, and
acknowledged said instrument to be its voluntary act and deed.
[SEAL]
Printed Name:
Notary Public for
My Commission Expires:
FIRST AMENDMENT TO LEASE -- Page 8
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EXHIBIT A
PROPERTY DESCRIPTION
Parcel "A", Spring Creek Correctional Facility Site,
according to Plat No. 84-12, filed August 23, 1984, in
the Seward Recording District, Third Judicial District,
State of Alaska; and
Tract "E", FOURTH OF JULY CREEK TRACTS, according to
Plat No. 84-6, filed May 1, 1984, in the Seward
Recording District, Third Judicial District, State of
Alaska.
FIRST AMENDMENT TO LEASE -- Page 9
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EXHIBIT B-l
SCHEDULE OF RENT
PAYMENT
DATE
PRINCIPAL
COMPONENT
INTEREST
RATE *
INTEREST
COMPONENT
RENTAL
PAYMENT
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* The Principal Component accrues interest at the rate set
forth above next to such Principal Component. The interest
accrues on a 360-day year of twelve 30-day months.
FIRST AMENDMENT TO LEASE -- Page 1D
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EXHIBIT C
COSTS AND EXPENSES
[SET FORTH ALL eOSTS AND EXPENSES OF THE
REFINANCING]
FIRST AMENDMENT TO LEASE -- Page 11
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EXHIBIT C
Form of Amendment to Assignment of Lease and Security Agreement
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FIRST AMENDMENT TO ASSIGNMENT OF LEASE AND SECURITY AGREEMENT
spring Creek Correctional Facility
This First Amendment to Assignment of Lease and
Security Agreement (the "Amendment to Assignment"), dated as of
October 1, 1993, and entered into between the City of Seward,
Alaska ("city"), and the state of Alaska, acting through its
Department of Administration ("state"), and Ford Motor Credit
corporation ("FMCC" or "Assignee") amends that certain Assignment
of Lease and Security Agreement, dated May 28, 1987 (the "1987
Assignment"), recorded on May 27, 1987, at Book 47, Page 399,
Records of the Seward Recording District, Third Judicial
District, state of Alaska, between the City, as assignor, FMCC,
as assignee, and the State. In consideration of the payment of
the amount of $ to, or for the account of, the State,
and for other valuable consideration:
Section 1. In addition to the assignment of all right,
title and interest in the Agreement of Lease, dated as of May 28,
1997, between city, as lessor, and State, as lessee, recorded on
May 27, 1987, at Book 47, Page 347, Records of the Seward
Recording District, Third Judicial District, State of Alaska,
under the 1987 Assignment, the City hereby sells, assigns,
transfers, sets over and pledges unto the Assignee and its
successors and assigns, forever without recourse, all of the
right, title and interest of the city in and to that certain
First Amendment to Agreement to Lease (the "Amendment to Lease"),
dated as of the date hereof, between the City and the State,
recorded on , 1993, at Book , Page , Records of
the Seward Recording District, Third Judicial District, state of
Alaska, all rents and other amounts payable and all other rights
thereunder. The State hereby consents to this assignment. The
1987 Lease and the Amendment to Lease provide for the lease of
the following described real property and the improvements
thereon (the "Project"):
Parcel "A", spring Creek Correctional Facility Site,
according to Plat No. 84-l2, filed August 23, 1984, in
the Seward Recording District, Third Judicial District,
State of Alaska; and
Tract "E", FOURTH OF JULY CREEK TRACTS, according to
Plat No. 84-6, filed May l, 1984, in the Seward
Recording District, Third Judicial District, State of
Alaska.
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Section 2. All capitalized terms used and not defined
herein shall have the meanings assigned to them in the 1987
Assignment.
Section 3. Assignee has deposited with an escrow agent
the amount set forth in Exhibit C to the Amendment to Lease, to
pay all costs associated with the Amendment to Lease and the
transaction contemplated hereby. The principal component of the
Rents set forth in Exhibit B-1 of the Amendment to Lease has been
increased to reflect the financing of a 1.5% premium payment to
FMCC, as well as all costs and expenses of the refinancing set
forth in Exhibit C thereto.
Section 4. In section 3(d) of the 1987 Assignment,
last line, the discount rate is amended to % and the
compounding frequency shall be the frequency of payment of
interest component in Exhibit B-1 of the Amendment to Lease.
section 5. The addresses for notices under section 4
of the 1987 Assignment shall be amended as follows:
Ford Motor Credit Company
section 6. Unless otherwise amended or deleted herein,
all other provisions of the 1987 Assignment shall remain in
effect.
Section 7. This Amendment to Assignment may be
simultaneously executed in several counterparts, each of which
shall be an original and all of which shall constitute but one
and the same instrument.
fIRST AMENDMENT TO ASSIGNMENT -- Page 2
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IN WITNESS WHEREOF, City and State have caused this
Amendment to Lease to be executed in their names by their duly
authorized representatives as of the date first above written.
CITY OF SEWARD, ALASKA
By
Name:
Title:
Address: P.O. Box 167
Seward, Alaska 99664
STATE OF ALASKA,
DEPARTMENT OF ADMINISTRATION
By
Nancy Bear Usera
Commissioner
Address: state of Alaska
Department of Administration
loth Floor
State Office Building
Juneau, Alaska 99811
Approved as to form:
Barbara Blasco
Assistant Attorney General-State of Alaska
ACCEPTED:
FORD MOTOR CREDIT COMPANY
Robert C. Chambers
Authorized Agent
fIRST AMENDMENT TO ASSIGNMENT -- Page 3
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STATE OF ALASKA
ss.
THIRD JUDICIAL DISTRICT
On this ____ day of , 1993, personally
appeared before me who, being first duly
sworn, did say that he/she is the of
the City of Seward, Alaska, and acknowledged that the foregoing
instrument was signed on behalf of the city of Seward, Alaska,
that he/she had authority to execute said instrument and
acknowledged said instrument to be said City's voluntary act and
deed.
[SEAL]
Printed Name:
Notary Public for Alaska
My Commission Expires:
STATE OF ALASKA
ss.
FIRST JUDICIAL DISTRICT
On this ____ day of , 1993, personally
appeared before me Nancy Bear Usera, who, being first duly sworn,
did say that she is the Commissioner of the state of Alaska,
Department of Administration, and acknowledged that the foregoing
instrument was signed on behalf of the state of Alaska,
Department of Administration and acknowledged said instrument to
be its voluntary act and deed.
[SEAL]
Printed Name:
Notary Public for Alaska
My Commission Expires:
FIRST AMENDMENT TO ASSIGNMENT -- Page 4
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STATE OF
ss.
On this day of , 1993, personally
appeared before me Robert C. Chambers, who, being first duly
sworn, did say that he is the Authorized Agent of Ford Motor
Credit Company, and acknowledged that the foregoing instrument
was signed on behalf of Ford Motor Credit company, and
acknowledged said instrument to be its voluntary act and deed.
[SEAL]
Printed Name:
Notary Public for
My Commission Expires:
FIRST AMENDMENT TO ASSIGNMENT -- Page 5
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 93-149
invalid such declaration shall not affect the validity of the remainder of the sections,
phrases or provisions.
Section 5. That this resolution shall take effect immediately upon passage.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this
25th day of October, 1993.
AYES:
NOES:
ABSENT:
ABSTAIN:
A TIEST:
THE CITY OF SEWARD, ALASKA
fJa 1~ L~. (Cj\lLnQ j
Dave W. Crane, Mayor
Anderson, Bencardino, Crane, Krasnansky, O'Brien, Sieminski
None
Darling
None
APPROVED AS TO FORM:
Wohlforth, Argetsinger, Johnson &
Brecht, Attorneys for the city of Seward,
Alaska
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City Attorney
(City Seal)