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)
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
Not Applicable | 94-1347393 | |
(Jurisdiction of incorporation or organization if not a U.S. national bank) | (I.R.S. Employer Identification No.) | |
420 Montgomery Street San Francisco, CA | 94163 | |
(Address of principal executive offices) | (Zip code) |
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-172
Sixth and Marquette, 17th Floor
Minneapolis, MN 55479
(agent for services)
BOYD GAMING CORPORATION
(Exact name of obligor as specified in its charter)
NEVADA | 88-0242733 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
2950 INDUSTRIAL ROAD | ||
LAS VEGAS, NEVADA | 89109 | |
(Address of principal executive offices) | (Zip code) |
7.75% Senior Subordinated Notes due 2012
(Title of the indenture securities)
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. |
(b) | Whether it is authorized to exercise corporate trust powers. |
Item 2. | Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation. |
None | with respect to the trustee. |
Exhibit | 1. A copy of the Articles of Association of the trustee now in effect. * |
Exhibit | 2. A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated November 28, 2001. * |
Exhibit | 6. The consents of United States institutional trustees required by Section 321(b) of the Act. |
* | Incorporated by reference to exhibit number 25 filed with registration statement number 333-87398. |
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||
/s/ Jeanie Mar | ||
Name: | Jeanie Mar | |
Title: | Vice President |
Very truly yours, | ||
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||
/s/ JEANIE MAR | ||
Jeanie Mar | ||
Vice President |
Exhibit 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 420 Montgomery Street, San Francisco, CA 94163
And Foreign and Domestic Subsidiaries,
at the close of business September 30, 2002, filed in accordance with 12 U.S.C. §161 for National Banks.
Dollar Amounts In Millions | |||
ASSETS | |||
Cash and balances due from depository institutions: | |||
Noninterest-bearing balances and currency and coin | $ | 8,221 | |
Interest-bearing balances |
| 4,188 | |
Securities: | |||
Held-to-maturity securities |
| 0 | |
Available-for-sale securities |
| 5,844 | |
Federal funds sold and securities purchased under agreements to resell: | |||
Federal funds sold in domestic offices |
| 2,148 | |
Securities purchased under agreements to resell |
| 7 | |
Loans and lease financing receivables: | |||
Loans and leases held for sale |
| 22,302 | |
Loans and leases, net of unearned income |
| 94,512 | |
LESS: Allowance for loan and lease losses |
| 1,331 | |
Loans and leases, net of unearned income and allowance |
| 93,181 | |
Trading Assets |
| 6,152 | |
Premises and fixed assets (including capitalized leases) |
| 1,616 | |
Other real estate owned |
| 70 | |
Investments in unconsolidated subsidiaries and associated companies |
| 256 | |
Customers’ liability to this bank on acceptances outstanding |
| 42 | |
Intangible assets | |||
Goodwill |
| 5,356 | |
Other intangible assets |
| 4,966 | |
Other assets |
| 11,512 | |
Total assets | $ | 165,861 | |
LIABILITIES | |||
Deposits: | |||
In domestic offices | $ | 87,329 | |
Noninterest-bearing |
| 26,595 | |
Interest-bearing |
| 60,734 | |
In foreign offices, Edge and Agreement subsidiaries, and IBFs |
| 16,057 | |
Noninterest-bearing |
| 4 | |
Interest-bearing |
| 16,053 | |
Federal funds purchased and securities sold under agreements to repurchase: | |||
Federal funds purchased in domestic offices |
| 17,958 | |
Securities sold under agreements to repurchase |
| 469 |
Dollar Amounts In Millions | |||
Trading liabilities |
| 6,096 | |
Other borrowed money | |||
(includes mortgage indebtedness and obligations under capitalized leases) |
| 8,528 | |
Bank’s liability on acceptances executed and outstanding |
| 42 | |
Subordinated notes and debentures |
| 4,884 | |
Other liabilities |
| 7,364 | |
Total liabilities | $ | 148,727 | |
Minority interest in consolidated subsidiaries |
| 33 | |
EQUITY CAPITAL | |||
Perpetual preferred stock and related surplus |
| 0 | |
Common stock |
| 520 | |
Surplus (exclude all surplus related to preferred stock) |
| 13,272 | |
Retained earnings |
| 3,096 | |
Accumulated other comprehensive income |
| 213 | |
Other equity capital components |
| 0 | |
Total equity capital |
| 17,101 | |
Total liabilities, minority interest, and equity capital | $ | 165,861 | |
I, James E. Hanson, Vice President of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
/s/ James E. Hanson
Vice President
We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.
/s/ Carrie L. Tolstedt
Director
/s/ Howard Atkins
Director
/s/ Clyde W. Ostler
Director