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EXHIBIT 25
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION
UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
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FIRSTAR BANK OF MINNESOTA, N.A.
(Exact name of Trustee as specified in its charter)
A National Banking Association 41-0122055
(State of incorporation if not a (IRS Employer
national bank) Identification No.)
101 East Fifth Street
Corporate Trust Department
St. Paul, Minnesota 55101
(Address of principal (Zip Code)
executive offices)
FIRSTAR BANK OF MINNESOTA, N.A.
101 East Fifth Street
St. Paul, Minnesota 55101
(612) 229-2600
(Exact name, address and telephone number of agent for service)
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COAST HOTELS AND CASINOS, INC.
COAST RESORTS, INC.
Nevada 88-0345706
Nevada 88-0345704
(State of incorporation (IRS Employer
or other jurisdiction) Identification No.)
4500 West Tropicana Avenue
Las Vegas, Nevada 89103
(Address of principal (Zip Code)
executive offices)
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9 1/2% Senior Subordinated Notes due 2009
(Title of Indenture securities)
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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
Treasury Department
Washington, DC
Federal Deposit Insurance Corporation
Washington, DC
The Board of Governors of the Federal Reserve System
Washington, DC
(b) The Trustee is authorized to exercise corporate trust powers.
GENERAL
Item 2. Affiliations with Obligor and Underwriters. If the obligor or any
underwriter for the obligor is an affiliate of the Trustee, describe
each such affiliation.
None
See Note following Item 16.
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. Listed below are all the exhibits filed as a part
of this statement of eligibility and qualification. Exhibits 1-4 are
incorporated by reference from filing 333-48849.
Exhibit 1. Copy of Articles of Association of the trustee now in
effect.
Exhibit 2. a. A copy of the certificate of the Comptroller of
Currency dated June 1, 1965, authorizing Firstar
Bank of Minnesota, N.A. to act as fiduciary.
b. A copy of the certificate of authority of the
trustee to commence business issued June 9, 1903,
by the Comptroller of the Currency to Firstar Bank
of Minnesota, N.A.
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Exhibit 3. A copy of the authorization of the trustee to exercise
corporate trust powers issued by the Federal Reserve
Board.
Exhibit 4. Copy of the By-Laws of the trustee as now in effect.
Exhibit 5. Copy of each Indenture referred to in Item 4.
Exhibit 6. The consent of the trustee required by Section 321(b)
of the Act.
Exhibit 7. A copy of the latest report of condition of the
trustee published pursuant to law or the requirements
of its supervision or examining authority.
NOTE
The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligor 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 obligor, or affiliates, are based
upon information furnished to the Trustee by the obligor. 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, the
Trustee, a national banking association organized and existing under the laws
of the Unites States, has duly caused this statement of eligibility and
qualification to be signed on its behalf by the undersigned, thereunto duly
authorized, and its seal to be hereunto affixed and attested, all in the City
of Saint Paul and State of Minnesota on the 6th day of May, 1999.
FIRSTAR BANK OF MINNESOTA, N.A.
(Seal) /s/ FRANK P. LESLIE III
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Frank P. Leslie III
Vice President
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EXHIBIT 6
CONSENT
In accordance with Section 321(b) of the Trust Indenture Act of 1939, the
undersigned, Firstar Bank of Minnesota, N.A., 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.
FIRSTAR BANK OF MINNESOTA, N.A.
Dated: May 6, 1999
/s/ FRANK P. LESLIE III
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Frank P. Leslie III
Vice President
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EXHIBIT 7
Legal Title of Bank: Firstar Bank Milwaukee, N.A. Call Date: 12/31/98 ST-BK: 55-9180 FFIEC 031
Address: 777 East Wisconsin Avenue
City, State, Zip: Milwaukee, Wisconsin 53202
FDIC Certificate No.: 0/5/3/0/8
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR DECEMBER 31, 1998
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC -- BALANCE SHEET
/ C400 \
Dollar Amounts in Thousands RCFD Bil Mil Thou
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ASSETS
1. Cash and balanced due from depository institutions (from Schedule RC-A) ..... /////////////////
a. Noninterest-bearing balances and currency and coin(1) ................... 0081 96,643 1.a.
b. Interest-bearing balances(2) ............................................ 0071 1,055 1.b.
2. Securities .................................................................. /////////////////
a. Held-to-maturity securities (from Schedule RC-B, Column A) .............. 1754 0 2.a.
b. Avaliable-for-sale securities (from Schedule RC-B, Column D) ............ 1773 396,617 2.b.
3. Federal funds sold and securities purchased under agreements to resell ...... 1350 532,733 3.
4. Loans and lease financing receivables ....................................... /////////////////
a. Loans and leases, net of unearned income ................................ /////////////////
(from Schedule RC-C) ............................ RCFD 2122 5,832,760 ///////////////// 4.a.
b. LESS: Allowance for loan and lease losses ....... RCFD 3123 84,275 ///////////////// 4.b.
c. LESS: Allocated transfer risk reserve ........... RCFD 3128 0 ///////////////// 4.c.
d. Loans and leases, net of unearned income, allowance, and reserve ........ /////////////////
(Item 4.a. minus 4.b. and 4.c.) ......................................... 2125 0 4.d.
5. Trading assets (from Schedule RC-D) ......................................... 3545 32,317 5.
6. Premises and fixed assets (including capitalized leases) .................... 2145 1,458 6.
7. Other real estate owned (from Schedule RC-M) ................................ 2150 88 7.
8. Investments in unconsolidated subsidiaries and associated companies ......... /////////////////
(from Schedule RC-M) ........................................................ 2130 0 8.
9. Customers' liability to this bank on acceptances outstanding ................ 2155 0 9.
10. Intangible assets (from Schedule RC-M) ...................................... 2143 104,559 10.
11. Other assets (from Schedule RC-F) ........................................... 2160 47,834 11.
12. Total assets (sum of items 1 through 11) .................................... 2170 2,592,894 12.
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(1) Includes cash items in process of collection and unposted debits
(2) Includes time certificates of deposit not held for trading
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LIABILITIES
/ C400 \
Dollar Amounts in Thousands RCFD Bil Mil Thou
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13. Deposits .................................................................... /////////////////
a. In domestic offices (sum of totals of columns A and C from .............. /////////////////
Schedule RC-E, part 1) .................................................. RCON 2200 2,023,758 13.a.
(1) Noninterest-bearing(1) ..................... RCON 6631 149,315
(2) Interest-bearing ........................... RCON 6636 1,874,443 ///////////////// 13.a.(1)
b. In foreign offices, Edge and Agreement .................................. ///////////////// 13.b.(2)
subsidiaries, and IBFs (from Schedule RC-E, part II) .................... RCFN 2200 404,324 13.b.
(1) Noninterest-bearing ........................ RCFN 6631 0 ///////////////// 13.b.(1)
(2) Interest-bearing ........................... FCFN 6636 0 ///////////////// 13.b.(2)
14. Fed funds purchased & securities sold under agreements to repurchase ........ RCON 2800 27,351 14.
15. a. Demand notes issued to the U.S. Treasury ................................ RCON 2840 0 15.a.
b. Trading liabilities (From Schedule RC-D) ................................ RCFD 3548 0 15.b.
16. Other borrowed money (including mortgage indebtedness and ................... /////////////////
obligations under capitalized leases) ....................................... /////////////////
a. With a remaining maturity of 1 year or less ............................. RCFD 2332 150,001 16.a.
b. With a remaining maturity of more than 1 year through 3 years ........... RCFD A547 85,418 16.b.
c. With a remaining maturity of more than 3 years .......................... RCFD A547 0 16.c.
17. Not applicable .............................................................. /////////////////
18. Bank's liability on acceptances executed and outstanding .................... RCFD 2920 0 18.
19. Subordinated notes and debentures(2) ........................................ RCFD 3200 10,000 19.
20. Other liabilities (from Schedule RC-G) ...................................... RCFD 2930 32,900 20.
21. Total liabilities (sum of items 13 through 20) .............................. RCFD 2948 2,329,428 21.
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus ............................... RCFD 3838 0 23.
24. Common stock ................................................................ RCFD 3230 35,730 24.
25. Surplus (exclude all surplus related to preferred stock) .................... RCFD 3839 220,556 25.
26. a. Undividided profits and capital reserves ................................ RCFD 3632 (396) 26.a.
b. Net unrealized holding gains (losses) on ................................ /////////////////
available-for-sale securities ........................................... RCFD 8434 7,576 26.b.
27. Cumulative foreign currency translation adjustments ......................... RCFD 3284 0 27.
28. Total equity capital (sum of items 23 through 27) ........................... RCFD 3210 263,466 28.
29. Total liabilities and equity capital (sum of items 21 and 28) ............... RCFD 3300 2,592,894 29.
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited-life preferred stock and related surplus.
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MEMORANDUM
To be reported only with the March Report of Condition.
RCFD 6724 N/A M.1.
1. Indicate in the box at the right the number of the statement
below that best describes the most comprehensive level of
auditing work performed for the bank by independent
external auditors as of any date during 1997.
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank.
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company
(but not on the bank separately).
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting (may be
required by state chartering authority).
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority).
5 = Review of the bank's financial statements by external auditors.
6 = Compilation of the bank's financial statements by external auditors.
7 = Other audit procedures (excluding tax preparation work).
8 = No external audit work.