HomeMy WebLinkAboutContract 2030",
Five Srar Sernice Guaranmed ~*
Corporate "Trust ~r~aic~~
EP-Mid-WS3C
6Q Livingston avenue
St. Paul, ~(~ 55107-2292
August 31, 2007
William Elrite, Finance Director
City of Columbia Heights
590 40"' Avenue Northeast
Columbia Heights, MN 55421
Re: Columbia Heights Economic Development Authority, Minnesota
Public Facility Lease Revenue Bonds, Series 2007B
(Municipal Liquor Store Project)
Dear Mr. Elrite:
U.S. Bank National Association is pleased to be given the opportunity to act as Tnistee
and Paying Agent on the above-described bond issue. I will be the account manager
assigned to this account. I have enclosed a copy of our trustee fee schedule and my
business card for future reference.
OCC regulations require us to have an executed Investment Authorization Fonn on file
for each trust account. The investment form directs us to invest trust funds in First
American Funds Treasury Obligations Fund (Class D). This is an automatic sweep
vehicle, which will keep your funds continuously invested.
IRS regulations require us to have an executed W-9 on file for each mist account. Please
complete the address and identification number sections, sign and date to complete.
Please send the executed forms to my attention in the enclosed envelope at your earliest
possible convenience, but no later than September 19, 2007.
Thank you in advance for your cooperation, it is much appreciated. I look forward to
working with you on this bond financing.
Sincerely,
~ ~~
s
Jay Paulson
Vice President
651.495.3914
2030
118144000
~bank~
Five Star Servicr Guarazrceed C~ :~
Schedule of Fees for Services as
Trustee, Registrar and Paying Agent
For
Economic Development Authority of
The City of Columbia Heights, Minnesota
Public Facility Lease Revenue Bonds
Series 20078
{Municipal Liquor Stare Project)
Administrative Fees Billed Annually
01010 Acceptance Fee $2,000.00
The acceptance fee includes the administrative review of documents, initial set-up of
the account, and other reasonably required services up to and including the closing.
This is a one-time fee, payable at closing.
04200 Trustee $2,000.00
Annual account administration fee covers the routine duties of trustee, registrar and
paying agent associated with the administration of the account. Administration fees
are payable in advance.
Direct Ottt of Pocket Expenses
Reimbursement of expenses associated with the performance of our duties, including At Cost
but not limited to publications, legal counsel after the initial close, travel expenses
and filing fees.
Extrtrordt'tun~y~ Services
Extraordinary services are duties or responsibilities of an unusual nature, including
termination, but not provided for in the governing documents or otherwise set forth in
this schedule. A reasonable charge will be assessed based on the nature of the
service and the responsibility involved. At our option, these charges will be billed at a
flat fee or at our hourly rate then in effect.
Account approval is subject to review and qualification. Fees are subject to change at our discretion and upon written notice. Fees
paid in advance will not be prorated. The fees set forth above and any subsequent modifications thereof are part of your agreement.
Finalization of the transaction constitutes agreement to the above fee schedule, including agreement to any subsequent changes
upon proper written notice. In the event your transaction is not finalized, any related out-of-pocket expenses will be billed to you
directly. Absent your written instructions to sweep or otherwise invest, all sums in your account will remain uninvested and no
accrued interest or other compensation will be credited to the account. Payment of fees constitutes acceptance of the terms and
conditions set forth.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to
obtain, verify and record information that identifies each person who opens an account.
For anon-individual person such as a business entity, a charity, a Trust or other legal entity we will ask for documentation to verify its
formation and existence as a legal entity. We may also ask to see financial statements, licenses, identification and authorization
documents from individuals claiming authority to represent the entity or other relevant documentation.
Dated: August 31, 2007
Muni v5.01 8/31/2007 1:33 PM
ARTICLE XI
Administrative Provisions
Section 11.1. Notices. All notices, certificates or other communications hereunder shall be
sufficiently given and shall be deemed given when delivered or deposited in the United States mail
in certified or registered form with postage fully prepaid:
If to the City: City of Columbia Heights
590 40°i Avenue Northeast
Columbia Heights, Minnesota 55421-3878
Attention: City Manager
If to the Authority: Columbia Heights Economic
Development Authority
590 40`h Avenue Northeast
Columbia Heights, Minnesota 55421-3878
Attention: Executive Director
If to the Trustee: U.S. Bank National Association
EP-MN-WS3C
60 Livingston Avenue
St. Paul, Minnesota 55107
Attention: Corporate Trust Services
The above-named persons, by notice given hereunder, may designate different addresses to which
subsequent notices, certificates or other communications will be sent.
Section 11.2. Binding Effect. This Lease shall inure to the benefit of and shall be binding
upon the Autliolity and the City and their respective successors and assigns.
Section 11.3. Severability. In the event any provision of this Lease shall be held invalid or
unenforceable by any court or competent jurisdiction, such holding shall not invalidate or render
unenforceable any other provision hereof.
Section 11.4. Amendments, Changes and Modifications. This Lease may be amended or
any of its terns modified only by written amendment authorized and executed by the City and the
Authority; provided that no such amendment shall be effective without the consent of the Trustee or
any other person or entity to whom the rights of the Authority to receive Lease Payments due
hereunder has been assigned.
Section 11.5. Further Assurances and Corrective Instruments. The Authority and the City
agree that they will, if necessary, execute, acknowledge and deliver, or cause to be executed,
acknowledged and delivered, such supplements hereto and such further instruments as may
Errors Unknown document property name. 29
113
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Five Star Service Guar.3ntecd ~ **'°~
Ccsr~strr~te Traast Servio~s
EP-MN-WS3C
60 Livingston Avenue
St. Peul, MN 5107-2292
August 31, 2007
William Elrite, Finance Director
Columbia Heights EDA
590 40th Avenue Northeast
Columbia Heights, MN 55421
Re: Columbia Heights Economic Development Authority Public Facility Lease
Revenue Bonds (Muncipal Liquor Store Project), Series 20078
Dear Mr. Elrite:
As Trustee for the above-referenced bond financing, U.S. Bank Corporate Trust
Services wants to ensure that that we maintain a current list of those individuals and
officers of the City of Columbia Heights who are authorized to direct the Trustee in
matters regarding the Columbia Heights Economic Development Authority Public Facility
Lease Revenue Bonds (Muncipal Liquor Store Project), Series 20076.
Enclosed is a Certificate Designating Authorized Officer of the City to be completed and
returned to this office at your earliest convenience. Anyone who is authorized to request
Project Fund disbursements, direct investments, request the release of audit information
to your accountants, sign amended bond documents, and otherwise give direction to the
Trustee must be included in this list of authorized representatives.
Thank you for taking the time to complete this Certificate. Please feel free to contact
me at (651) 495-3914 if you have questions about this request.
Enclosure
AUTOMATIC MONEY MARKET INVESTMENTS
INVESTMENT AUTHORIZATION LETTER
In the absence of specific written direction to the contrary, U.S. Bank National Association (or
U.S. Bank) is hereby directed to invest and reinvest proceeds and other available moneys in the
following funds as permitted by the operative documents. Please mark one space with an X for
the investment vehicle selection, and sign below.
a. First American Prime Obligations Fund (Class D)
b. X First American Treasury Obligations Fund (Class D)
c. First American Government Obligations Fund (Class D)
d. First American Tax Free Obligations Fund (Class D)
SEE FIRST AMERICAN FUNDS, INC. PROSPECTUS WHICH HAS BEEN PROVIDED.
NOTE THAT THE ABOVE FUNDS' INVESTMENT ADVISOR AND CUSTODIAN ARE
SUBSIDIARIES OF U.S. BANCORP. SHARES OF THE ABOVE FUNDS ARE NOT
DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED BY, ANY BANK INCLUDING U.S.
BANK NATIONAL ASSOCIATION OR ANY OF THEIR AFFILIATES, NOR ARE THEY
INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE FEDERAL
RESERVE BOARD OR ANY OTHER AGENCY. AN INVESTMENT 1N THE FUNDS
INVOLVES INVESTMENT RISK, INCLUDING POSSIBLE LOSS OF PRINCIPAL. Neither
U.S. Bank National Association nor U.S. Bank will vote proxies for the First American Funds.
Proxies will be mailed to you for voting.
Fee Basis: Approval of investment of any of these First American mutual funds includes
approval of the fund's fees and expenses as detailed in the enclosed prospectus, including
advisory and custodial fees and shareholder service expenses (which may be so-called 12b-1
shareholder service fees), which fees and expenses are paid to U.S. Bank National Association or
U.S. Bank, subsidiaries of U.S. Bancorp.
City of Columbia Heights, Minnesota ~ ~'' ~ -~;r' ~,~,.~;9
Sitmature of A t orized Directing
Party
118144000 City Manager
Trust Account Number -includes Title
existing and future sub-accounts unless
otherwise designated. ,
Date
Form ~'9 Request for Taxpayer Give form to the
(Rev. November 2005} Identification Number and Certification requester. Do not
Department of the Treasury send to the IRS.
fntemal Revenue Service
N Name (as shown on your income tax return)
m
rn
n. Business name, if d'rfferent from above
o City of Columbia Hei
hts
g
d W
o
Individual/
^ Corporation ^ Partnership ® Other - (,py{,~ni~.7i~-
^
Exempt from backup
^
Check appropriate box:
Sole proprietor withholding
r y Address (number, street, and apt. or suite no.) Requester's name and address (optional)
a ~ 590 40th Avenue NE
!= City, state, and ZIP code
~ Columbia Heights, MN 55421
m ( List account number(s) here (optionan
m
rer Identification Number ~
Enter your TIN in the appropriate box. The TIN provided must match the name given on Line 1 to avoid
backup withholding. For individuals, this is your social security number (SSN). However, for a resident
alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, it is
your employer identification number (EIN). If you do not have a number, see Now to get a TIN on page 3.
Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose
number to enter.
Certification
Social security number
or
Employer identification number
4
0
Under penalties of perjury, I certify that:
1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the fntemal
Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or {c) the IRS has
notified me that I am no longer subject to backup withholding, and
3. I am a U.S. person (including a U.S. resident alien).
Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup
withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply.
For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement
arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the Certification, but you must
provide your correct TIN. (See the instructions on page 4.)
Sign Signature of ~ / ~D
Here U.S. person - _~~ `~~'V/i Date - ( 1
Purpose of Form
A person who is required to file an information return with the
IRS, must obtain your correct taxpayer identification number
(TIN) to report, for example, income paid to you, real estate
transactions, mortgage interest you paid, acquisition or
abandonment of secured property, cancellation of debt, or
contributions you made to an IRA.
U.S. person. Use Form W-9 only if you are a U.S. person
(including a resident alien), to provide your correct TIN to the
person requesting it (the requester) and, when applicable, to:
1. Certify that the TIN you are giving is correct (or you are
waiting for a number to be issued),
2. Certify that you are not subject to backup withholding, or
3. Claim exemption from backup withholding if you are a
U.S. exempt payee.
In 3 above, if applicable, you are also certifying that as a
U.S. person, your allocable share of any partnership income
from a U.S. trade or business is not subject to the
withholding tax on foreign partners' share of effectively
connected income.
Note. If a requester gives you a form other than Form W-9 to
request your TIN, you must use the requester's form if it is
substantially similar to this Form W-g.
For federal tax purposes, you are considered a person if you
• An individual who is a citizen or resident of the United
States,
• A partnership, corporation, company, or association
created or organized in the United States or under the laws
of the United States, or
• Any estate (other than a foreign estate) or trust. See
Regulations sections 301.7701-6(a) and 7(a) for additional
information.
Special rules for partnerships. Partnerships that conduct a
trade or business in the United States are generally required
to pay a withholding tax on any foreign partners' share of
income from such business. Further, in certain cases where a
Form W-9 has not been received, a partnership is required to
presume that a partner is a foreign person, and pay the
withholding tax. Therefore, if you are a U.S. person that is a
partner in a partnership conducting a trade or business in the
United States, provide Form W-9 to the partnership to
establish your U.S. status and avoid withholding on your
share of partnership income.
The person who gives Form W-9 to the partnership for
purposes of establishing its U.S. status and avoiding
withholding on its allocable share of net income from the
partnership conducting a trade or business in the United
States is in the following cases:
• The U.S. owner of a disregarded entity and not the entity,
are:
Cat. No. 10231X Form W-9 (Rev. 11-2005)
CERTIFICATE DESIGNATING AUTHORIZED OFFICER OF THE CITY
We, the undersigned, being duly qualified, authorized and acting representatives
of the City of Columbia Heights, Minnesota (the "City"), hereby designate
Walter R. Fehst, City Manager , as Authorized Officer of the
City and William Elrite Finance Director as alternate
Authorized Officer of the City, each of whose signature appears below and authorizes
either of them to take all actions and do all things as Authorized Officer of the City
Representative required or permitted under the terms of the Lease-Puxchase Agreement
and the Mortgage and Security Agreement and Trust Indenture for the Columbia Heights
Economic Development Authority Public Facility Lease Revenue Bonds, Series 200'7B
(Municipal Liquor Store Project).
~' '/
,~` ,
SPECIMEN SIGNATURE: ~ i -: ~.'v
r
Authorized Officer of the City
SPECIlVIEN SIGNATURE:
Authorized Officer of the City
Given this ,~`~~~~ day of September, 2007
CITY OF COLUMBIA HEIGHTS, MINNESOTA
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:May ary L. eterson