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J <br /> , M . <br /> LEGAL DEPARTMENT MEMORANDUM <br /> No . 84-41 <br /> November 29 , 1984 <br /> T0: City Manager <br /> FROM: Corporation Counsel <br /> RE : Toxigenics - Whittaker <br /> You will recall that about two weeks ago you received notice <br /> from Northern Trust that they were closing out their corporate <br /> trust activities and hence were resigning as trustee in <br /> connection with the 1979 Toxigenics bond issue . <br /> The resignation becomes effective on December 15 , or upon <br /> the earlier appointment of a successor trustee . <br /> Today Carol Morrison of Northern Trust called . They have <br /> heard nothing from bondholders about a , successor . A large � <br /> majority of the bonds are unregistered . Whittaker is amendable <br /> to the appointment of Norwest Bank, Minneapolis , N .A. as <br /> successor . Northern is agreeable and Norwest will accept . <br /> Norwest qualifies under Section 10 . 8 of the trust indenture . <br /> An appropriate ordinance has been prepared for the December <br /> 3 , 1984 , Council agenda . <br /> HCL: pm <br />