HomeMy WebLinkAbout6.z. Approve Amendment of SKB AgreementCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: OCTOBER 7, 2003
SKB Environmental has requested that the City Council consider an amendment to the Safety -Kleen
(Rosemount), Inc., Rosemount Community Trust.
The purpose of the trust is to benefit the citizens of Rosemount and the City of Rosemount. Currently, the
trustees are allowed to make dispersals from the trust not to exceed an annual total of $75,000, or the income of
the trust, whichever is greater. The trustees are requesting that the annual distribution be increased to $100,000,
or the income of the trust, whichever is greater.
The opening of the new C &D cells in 2004 will generate additional revenue to the Trust. The increase in annual
distributions is requested as a result of both increasing revenues and increasing requests received by the Trust
for qualifying distributions.
RECOMMENDED ACTION: MOTION TO ADOPT A RESOLUTION APPROVING THE FOURTH
AMENDMENT TO SAFETY -KLEEN (ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES (ROSEMOUNT), INC.,
ROSEMOUNT COMMUNITY TRUST; ALSO FORMERLY KNOWN AS THE USPCI, INC.
ROSEMOUNT COMMUNITY TRUST] UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992,
AS AMENDED.
COUNCIL ACTION:
FOURTH AMENDMENT
FOURTH- AMENDMENT TO SAFETY -KLEEN ( ROSEMOUNT), INC.,
ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
Pursuant to Paragraph 11 of the Safety -Kleen (Rosemount) ,
Inc., Rosemount Community Trust, under Trust Agreement dated
November 19, 1992, as amended, said Trust Agreement is hereby
amended as follows:
1. The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of Seventy -Five Thousand Dollars
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five Thousand
Dollars ($75,000.00)."
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of One Hundred Thousand Dollars
($100,000.00) or the income of the trust, whichever is
greater.
Dated:
John Tapper, Trustee
Matthew Kearney, Trustee
Steve Casey, Trustee
Don Chapdelaine, Trustee
John Domke, Trustee
Dated:
Dated:
City of Rosemount
BY:
William Droste, Mayor
BY:
Linda J. Jentink, City Clerk
SKB Environmental, Inc.
BY:
Richard O'Gara
ITS: President
BY:
John Domke
ITS: Vice President
(Page 2 of Fourth Amendment)
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RESOLUTION
A RESOLUTION APPROVING THE FOURTH AMENDMENT TO
SAFETY -KLEEN ( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
WHEREAS, the Trustees of the Safety -Kleen (Rosemount), Inc.,
Rosemount Community Trust are desirous of adopting a Fourth
Amendment to the Safety -Kleen (Rosemount), Inc., Rosemount
Community Trust Agreement under Trust Agreement dated November 19,
1992, as amended, pursuant to Paragraph 11 of said Trust Agreement
with the unanimous consent of all Trustees currently acting by
execution of this Resolution;
NOW, THEREFORE, THE TRUSTEES OF THE SAFETY -KLEEN ( ROSEMOUNT),
INC., ROSEMOUNT COMMUNITY TRUST, UNDER TRUST AGREEMENT DATED
NOVEMBER 19, 1992, AS AMENDED, HEREBY ADOPT THE FOLLOWING
RESOLUTIONS:
1, The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows
the Trustees may annually
"Subject to the foregoing, Five Thousand Dollars
distribute the sum of Seventy-
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five
Dollars ($75, 000.00) . ,, Thousand
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of One Hundred Thousand Dollars
($ or the income of the trust, whichever is
greater.
2 . To effect the Resolution in Paragraph 1 above the
Trustees are hereby authorized and directed to execute
the Fourth Amendment attached hereto as Exhibit A.
3. The Fourth Amendment is effective for the Trust's fiscal
year commencing January 1, 2003 and ending December 31,
2003, as of and upon the date the Fourth Amendment is
fully executed by all of the Trustees of the Trust, the
City of Rosemount, and SKB Environmental, Inc.
Dated:
John Tapper, Trustee
Matthew Kearney, Trustee
Steve Casey, Trustee
Don Chapdelaine, Trustee
John Domke, Trustee
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EXHIBIT A
FOURTH AMENDMENT
FOURTH AMENDMENT TO SAFETY -KLEEN ( ROSEMOUNT), INC.,
ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
Pursuant to Paragraph 11 of the Safety -Kleen (Rosemount) ,
Inc., Rosemount Community Trust, under Trust Agreement dated
November 19, 1992, as amended, said Trust Agreement is hereby
amended as follows:
1. The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of Seventy -Five Thousand Dollars
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five Thousand
Dollars ($75,000.00)."
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of One Hundred Thousand Dollars
($100,000.00) or the income of, the trust, whichever is
greater.
Dated:
John Tapper, Trustee
Matthew Kearney, Trustee
Steve Casey, Trustee
Don Chapdelaine, Trustee
John Domke, Trustee
Dated: City of Rosemount
BY:
William Droste, Mayor
BY:
Linda J. Jentink, City Clerk
Dated: SKB Environmental, Inc.
BY:
Richard O'Gara
ITS: President
BY:
John Domke
ITS: Vice President
(Page 2 of Fourth Amendment)'
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CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION
A RESOLUTION APPROVING THE FOURTH AMENDMENT TO
SAFETY -KLEEN ( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
WHEREAS, the City of Rosemount is desirous of adopting a
Fourth Amendment to the Safety -Kleen (Rosemount), Inc., Rosemount
Community Trust Agreement under Trust Agreement dated November 19,
1992, as amended, pursuant to Paragraph 11 of said Trust Agreement;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMOUNT
HEREBY ADOPTS THE FOLLOWING RESOLUTIONS:
1. The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of Seventy -Five Thousand Dollars
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five Thousand
Dollars ($75,000.00)."
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of One Hundred Thousand Dollars
($100,000.00) or the income of the trust, whichever is
greater.
2. To effect the Resolution in Paragraph 1 above, the Mayor
and City Clerk of the City of Rosemount are hereby
authorized and directed to execute the Fourth Amendment
attached hereto as Exhibit A.
3. The Fourth Amendment is effective for the Trust's fiscal
year commencing January 1, 2003 and ending December 31,
2003, as of and upon the date the Fourth Amendment is
fully executed by all of the Trustees of the Trust, the
City of Rosemount, and SKB Environmental, Inc.
ADOPTED this of 2003.
William H. Droste, Mayor
ATTEST:
Linda J. Jentink, City Clerk
Motion by:
Voted in favor: _
Voted against:
Member absent:
Seconded by:
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I
EXHIBIT A
FOURTH AMENDMENT
FOURTH AMENDMENT TO SAFETY -KLEEN ( ROSEMOUNT), INC.,
ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
Pursuant to Paragraph 11 of the Safety -Kleen (Rosemount) ,
Inc., Rosemount Community Trust, under Trust Agreement dated
November 19, 1992, as amended, said Trust Agreement is hereby
amended as follows:
1. The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of Seventy -Five Thousand Dollars
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five Thousand
Dollars ($75,000.00)."
is hereby amended to
".Subject to the, for
distribute the sum
($100,000.00) or the
greater.
Dated:
read as follows
egoing, the Trustees may annually
of One Hundred Thousand Dollars
income of the trust, whichever is
John Tapper, Trustee
Matthew Kearney, Trustee
Steve Casey, Trustee
Don Chapdelaine, Trustee
John Domke, Trustee
M
Dated:
Dated:
City of Rosemount
BY:
William Droste, Mayor
BY:
Linda J. Jentink, City Clerk
SKB Environmental, Inc.
BY:
Richard O'Gara
ITS: President
BY:
John Domke
ITS: Vice President
(Page 2 of Fourth Amendment)
clients \1820.000 \4th- amd.03
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION ... ..
A RESOLUTION APPROVING THE FOURTH AMENDMENT TO
SAFETY -KLEEN ( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST
(FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY
TRUST) UNDER TRUST AGREEMENT DATED
NOVEMBER 19,1992, AS AMENDED.
WHEREAS, the City of Rosemount is desirous of adopting a Fourth Amendment to the Safety -
Kleen (Rosemount), Inc., Rosemount community Trust Agreement under Trust agreement dated
November 19, 1992, as amended, pursuant to Paragraph 11 of said Trust Agreement;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMOUNT HEREBY
ADOPTS THE FOLLOWING RESOLUTIONS:
1. The sentence in paragraph 4 of the Trust Agreement, as amended by the First Amendment
to the Trust Agreement, which reads as follows:
"Subject to the foregoing, the Trustees may annually distribute the sum of Seventy -Five
Thousand Dollars ($75,000.00) or the income of the trust, whichever is greater, until the annual
income of the trust for any fiscal year equals or exceeds Seventy -Five Thousand Dollars
($75,000.00)."
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually distribute the sum of One Hundred
Thousand Dollars ($100,000.00) or the income of the trust, whichever is greater."
2. To effect the Resolution in Paragraph 1 above, the Mayor and City Clerk of the City of
Rosemount are hereby authorized and directed to execute the Fourth Amendment attached hereto as
Exhibit A.
3. The Fourth Amendment is effective for the Trust's fiscal year commencing January 1, 2003
and ending December 31, 2003, as of and upon the date the Fourth Amendment is fully executed by
all of the Trustees of the Trust, the City of Rosemount, and SKB Environmental, Inc.
ADOPTED this 7 th day of October, 2003.
William H. Droste, Mayor
it
RESOLUTION 2003 - .. .
ATTEST:
Linda J. Jentink, City Clerk
Motion by:
Voted in favor:
Voted against:
Member absent:
Second:
EXHIBIT A
FOURTH AMENDMENT
FOURTH AMENDMENT TO SAFETY -KLEEN ( ROSEMOUNT), INC.,
ROSEMOUNT COMMUNITY TRUST
[FORMERLY KNOWN AS THE LAIDLAW ENVIRONMENTAL SERVICES
( ROSEMOUNT), INC., ROSEMOUNT COMMUNITY TRUST;
ALSO FORMERLY KNOWN AS THE USPCI, INC. ROSEMOUNT COMMUNITY TRUST]
UNDER TRUST AGREEMENT DATED NOVEMBER 19, 1992, AS AMENDED.
Pursuant to Paragraph 11 of the Safety -Kleen (Rosemount),
Inc., Rosemount Community Trust, under Trust Agreement dated
November 19., 1992, as amended, said Trust Agreement is hereby
amended as follows:
1. The sentence in Paragraph 4 of the Trust Agreement, as
amended by the First Amendment to the Trust Agreement,
which reads as follows:
"Subject to the foregoing, the Trustees may annually
distribute the sum of Seventy -Five Thousand Dollars
($75,000.00) or the income of the trust, whichever is
greater, until the annual income of the trust for any
fiscal year equals or exceeds Seventy -Five Thousand
Dollars ($75,000.00)."
is hereby amended to read as follows:
"Subject to the foregoing, the Trustees may annually,
distribute the sum of One Hundred Thousand Dollars
($100,000.00) or the income of the trust, whichever is
greater.
Dated:
John Tapper, Trustee
Matthew Kearney, Trustee
Steve Casey, Trustee
Don Chapdelaine, Trustee
John Domke, Trustee
Dated:
Dated:
City of Rosemount
BY:
William Droste, Mayor
BY:
Linda J. Jentink, City Clerk
SKB Environmental, Inc.
BY:
Richard O'Gara
ITS: President
BY:
John Domke
ITS: Vice President
(Page 2 of Fourth Amendment) ~
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