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TRUST INDENTURE
<br />
<br /> THiS TRUST INDENTURE, dated as of June 1, 2005, is by and between the Economic
<br />Development Authority of d~e City of Ramsey, Minnesota, a public body corporate and politic of
<br />the State of Minnesota (herein sometimes called the "Issuer"), and U.S. Bank National
<br />Asst~ciation, a national banking association having its main corporate office and 3rincipal place
<br />of business in St. Paul, Minnesota (herein sometimes called the "Trustee"):
<br />
<br />WITNESSETH:
<br />
<br /> WHEREAS, the Issuer is authorized under the laws of Minnesota, including Minnesota
<br />Statutes, Sections 469.090 through 469.1082 and Sections 469.001 through 469.047, and the
<br />powers conferred on the Issuer therein (collectively, 'the "Issuer Powers Act") to issue revenue
<br />bonds in aid of certain projects; and
<br />
<br /> WHEREAS, the City of Ramsey, Minnesota (the "City") is authorized under Minnesota
<br />Smtu'tes, Section 465.7] and 469.041 as amended (the "City Powers Act"), to acquire the interest
<br />[n real and personal property pursuant to a Lease Agreement, dated as of June l, 2005 (the
<br />"J ,e~se"), and
<br />
<br /> WHEREAS, the Issuer has agreed to issue its $19,200,000 Public Project Lease Revenue
<br />Bonds, Series 2005A (City of Ramsey, Minnesota Lease Obligation), dated as of the Date of
<br />Or/ginal Issuance as hereinafter defined (the "Series 2005A Bonds"), the proceeds of wh/ch will
<br />be us;ed to finance the cost of constructing and furnishing a municipal center consisting of a city
<br />hall, administration, police and related parldng (the "Project") to be used by the City as a
<br />"redevelopment project" under the Issuer Powers Act; and
<br />
<br /> WHEREAS, the Issuer has deemed it advisable to enter into this Indenture and has duly
<br />authorized the issuance of the Series 2005A Bonds as provided herein; and
<br />
<br /> WHEREAS, the proceeds of the Series 2005A Bonds, together with any other required
<br />fimds, will be used for the specific.authorized purpose of providing funds to pay Project Costs;
<br />and
<br />
<br /> WF[EREAS, the Lease requires that, )5-om and after the date hereof, the City make Rental
<br />Payments thereunder in mounts and at times sufficient to pay the principal of, premium, if any,
<br />~'md iaterest on the Series 2005A Bonds, when due; and
<br />
<br /> WHEREAS, the execution and delivery of this Indenture and the Lease and the issuance
<br />o [ the Series 2005A Bonds have been authorized by the Board of Commissioners, the governing
<br />body, of the Issuer pursuant to a resolution adopted by said Board on May 24, 2005 (the "Bond
<br />l¢_esolution"); and
<br />
<br />WHEREAS, the Project is essential to the-operations of the Issuer and the City; and
<br />
<br /> WHEREAS, the form of the Series 2005A Bonds, the assignment and the Trustee's
<br />authentication certificate to be endorsed thereon are to be in substantially the folloWing forms:
<br />
<br />i 763903v I
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