EX-25.1 6 c85912s3exv25w1.htm FORM T-1 STATEMENT OF ELIGIBILITY OF TRUSTEE exv25w1
 

Exhibit 25.1



SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM T-1

STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)


U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

31-0841368
I.R.S. Employer Identification No.

     
800 Nicollet Mall
Minneapolis, Minnesota
  55402

 
 
 
(Address of principal executive offices)   (Zip Code)

Richard Prokosch
U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107
(651) 495-3918
(Name, address and telephone number of agent for service)

Otter Tail Corporation
(Issuer with respect to the Securities)

     
Minnesota   41-0462685

 
 
 
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)
     
215 South Cascade Street, Box 496
Fergus Falls, Minnesota
  56358-0496

 
 
 
(Address of Principal Executive Offices)   (Zip Code)

Debt Securities
(Title of the Indenture Securities)



 


 

FORM T-1

Item 1.  GENERAL INFORMATION. Furnish the following information as to the Trustee.

     
a)
  Name and address of each examining or supervising authority to which it is subject.
  Comptroller of the Currency
  Washington, D.C.
 
   
b)
  Whether it is authorized to exercise corporate trust powers.
  Yes

Item 2.  AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.

     None

Items 3-15  Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

Item 16.  LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

  1.   A copy of the Articles of Association of the Trustee.*
 
  2.   A copy of the certificate of authority of the Trustee to commence business.*
 
  3.   A copy of the certificate of authority of the Trustee to exercise corporate trust powers.*
 
  4.   A copy of the existing bylaws of the Trustee.*
 
  5.   A copy of each Indenture referred to in Item 4. Not applicable.
 
  6.   The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.
 
  7.   Report of Condition of the Trustee as of December 31, 2003, published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

* Incorporated by reference to Registration Number 333-67188.

4


 

NOTE

     The answers to this statement insofar as such answers relate to what persons have been underwriters for any securities of the obligors within three years prior to the date of filing this statement, or what persons are owners of 10% or more of the voting securities of the obligors, or affiliates, are based upon information furnished to the Trustee by the obligors. While the Trustee has no reason to doubt the accuracy of any such information, it cannot accept any responsibility therefor.

SIGNATURE

     Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of St. Paul, State of Minnesota on the 28th day of May, 2004.

             
        U.S. BANK NATIONAL ASSOCIATION
             
        By:   /s/ Richard Prokosch

Richard Prokosch
Vice President
             
By:   /s/ Benjamin J. Krueger

Benjamin J. Krueger
Assistant Vice President
       

5


 

Exhibit 6

CONSENT

     In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

Dated: May 28, 2004

             
        U.S. BANK NATIONAL ASSOCIATION
             
        By:   /s/ Richard Prokosch

Richard Prokosch
Vice President
             
By:   /s/ Benjamin J. Krueger

Benjamin J. Krueger
Assistant Vice President
       

6


 

Exhibit 7

U.S. Bank National Association
Statement of Financial Condition
As of 12/31/2003

($000’s)

         
    12/31/2003
Assets
       
Cash and Due From Depository Institutions
  $ 8,631,361  
Federal Reserve Stock
    0  
Securities
    42,963,396  
Federal Funds
    2,585,353  
Loans & Lease Financing Receivables
    114,718,888  
Fixed Assets
    1,911,662  
Intangible Assets
    10,254,736  
Other Assets
    8,093,654  
 
   
 
 
Total Assets
  $ 189,159,050  
Liabilities
       
Deposits
  $ 128,249,183  
Fed Funds
    5,098,404  
Treasury Demand Notes
    3,585,132  
Trading Liabilities
    213,447  
Other Borrowed Money
    21,664,023  
Acceptances
    123,996  
Subordinated Notes and Debentures
    5,953,524  
Other Liabilities
    5,173,011  
 
   
 
 
Total Liabilities
  $ 170,060,720  
Equity
       
Minority Interest in Subsidiaries
  $ 1,002,595  
Common and Preferred Stock
    18,200  
Surplus
    11,677,397  
Undivided Profits
    6,400,138  
 
   
 
 
Total Equity Capital
  $ 19,098,330  
Total Liabilities and Equity Capital
  $ 189,159,050  


To the best of the undersigned’s determination, as of the date hereof, the above financial information is true and correct.

U.S. Bank National Association

         
By:
  /s/ Richard Prokosch

Vice President
   

Date: May 28, 2004