04-14-2021 Council Packet - Laserfiche WebLink

Home Browse Search

13068670v2 10 to which is in the possession of the Issuer or the Corporation, upon a supporting Certificate of an officer or officers of the Issuer or the Corporation, unless the signer knows that the supporting Certificate with respect to the matters upon which such Certificate or opinion may be based as aforesaid is erroneous, or, in the exercise of reasonable care, should have known that the same was erroneous. Section 1.03 Description of Project. The term “Project” refers to the acquisition, construction, and equipping of a new senior healthcare and housing facility, including approximately 48 skilled nursing beds, 16 transitional skilled nursing beds, 35 independent apartment units, 36 assisted living apartment units, 14 memory care apartment units, and 12 care suite apartment units, to be located at 1534 County Road C East in the City of Maplewood, Minnesota. Section 1.04 Additional Provisions as to Interpretation. All references herein to “Articles”, “Sections” and other subdivisions are to the corresponding Articles, Sections or subdivisions of this Indenture; and the words “herein”, “hereof”, “hereunder” and other words of similar import refer to this Indenture as a whole and not any particular Article, Section or subdivision hereof. Whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or funds in the necessary amount to pay or redeem any Bonds, the amount so to be deposited or held shall be the principal amount of such Bonds and all unpaid interest thereon to maturity, except that in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any. Any terms defined in the Loan Agreement but not defined herein shall have the same meaning herein unless the context hereof clearly requires otherwise. This Indenture is governed by and shall be construed in accordance with the laws of Minnesota. ARTICLE II FORM, EXECUTION AND REGISTRATION OF BONDS Section 2.01 Form, Maturities and Numeration of Series 2021D Bonds. The Series 2021D Bonds to be issued and secured under this Indenture shall each be designated “City of Little Canada, Minnesota Subordinate Senior Housing and Healthcare Revenue Bond (New Harmony Project), Series 2021D”. The Series 2021D Bonds and Certificates of Trustee and Assignment shall be substantially in the form set forth in the recitals hereof. The Series 2021D Bonds shall be issued in fully registered form in the denomination of $25,000 or any greater integral multiple thereof each, or any integral multiple thereof not exceeding the principal amount maturing in any year, initially numbered from R-1 upwards in order of maturity, and the Series 2021D Bonds