Laserfiche WebLink
MATt11Cw A FEVI'IT <br />Cols DEALER <br />Honor M. DOW EN <br />FRASa ILwMOND <br />LEONARD J. KX.Yes <br />I2oorm' 0. SHARE <br />I3vm E. SWANSON <br />M.J. GALVIN, JR. <br />DAv1D G. FOR.SBERO <br />JOAN J. MCNEELY . <br />MCNEa V. SEY'MOOR.JR. <br />JERnr F. RO'THAN <br />TNRENCE N. Do ms <br />RlcusEll D. Knz <br />JOHN L.DEVeey <br />RONALD L. SORENSON <br />PATER D. Seen <br />SAMDEL L. RANSON <br />RONALD E. ORCMABD <br />JoHN TROYER <br />STEPHEN WINNIC% <br />Avx0N L. GOnw, <br />JOHN 0. KDNHncs <br />'plovns A. LARSON <br />Devio J. SPRNCen <br />DANINI.J. CoLc. J0. <br />DOCOIAS L. SKOV <br />)Duvet 1DJERONIMV4 <br />R. Scon DAVIES <br />J. PATmca MCDAVIn <br />JOAN D. VAN DE NORrE. 30. <br />RICHARD G. Anne <br />A.NOREW C. BocnER <br />Jeves E. NaisoN <br />Jeno,)1 A.GEIs <br />STavE A.DRAND <br />JOEL 41. Go resHaN <br />ALAN D. MACULA <br />,IEYPREY F. Sus' <br />MAnNVW Linn" <br />DAno 0. GREENING <br />DAVD) D. SAND <br />DANIEL M. 0000ll .AN <br />Josenl P. Nonce <br />Ct1AR1YS I1. DAYNOR <br />.ANDREA M. BEND <br />TIMOTHY P. FLsuEm <br />MAHnN IL Fin <br />LAW OFFICES <br />BRIGGS AND MORGAN <br />PROFESSIONAL ASSOCIATION <br />2200 FIRST NATIONAL BANK BUILDING <br />SAINT PAUL, MINNESOTA 05101 <br />TELEPHONE 16121 291-1215 <br />TELECOPI ER 16121 222 -4071 <br />INCLUDING T£IE FORMER FIRM OF <br />LEVITT, PALMER, BOW E.N, ROTMA\ & SHARE <br />June 20, 1986 <br />Mr. Joseph Chlebeck <br />Clerk - Treasurer <br />City Hall <br />515 Little Canada Road <br />St. Paul, Minnesota 55117 <br />Dear Mr. Chlebeck: <br />RonEm 3. PEATTC <br />3011,4 DLLTIINA <br />.TAM00 0. RAY <br />RICIIAND D. F:ARTIN <br />Imam' J IIAIIA <br />MARY L. WHEY <br />JAMES A. Pose <br />RonyN L RANSEN <br />ROBERT F. Woons <br />WILLIAM J. Jonms <br />MAROARET K.SAVAOE <br />BRIAN 0. BsLIsLE <br />TONY STENIEROER <br />MARY R. SEHAMMER <br />MICHAEL B. STORATER <br />JOHN R. LIN0)TRON <br />RICIIAND D. ANDERSON <br />SO L? A. S0000IN <br />DAvm O. MCDONALD <br />DRUCK W. MOOTY <br />ERIC NILSSON <br />ANOREw R. KINTZI:cum <br />FREDERICK P. ANGST <br />ROBERT L. LEE <br />ANN RH1CrsOD5 <br />FADZADET11 J. ANDREWS <br />GREODRYJ. STENNOE <br />CHARLES D. ROGERS <br />TERRY L. Su'a <br />PAU. NI. GALES <br />MAIM . +t. DYNSETR <br />KEVIN A. BERG <br />Manx SCHROEDER <br />MARIAN M. DUURKIN <br />NANCY D. ARNISON <br />TI IClld Pl 1 IICIJIISTREM <br />PAHL 5.3M:005EN <br />TIMOTHY J. KEENAN <br />CANLOS I2.CARIIA500IU.0 <br />OPCOCNSEL <br />J. NAIL MORTON <br />21011.0111 L. KYLE <br />301101 M. PALMER <br />SARCEL it. MORGAN <br />FIUN% N. OILMAM <br />A.IACIIENCC DAVIS <br />CIAR0N00 0. FIsAHE <br />JolIN M.SOLUvAN <br />Enclosed is a Resolution for consideration by the City <br />Council at its June 25, 1986 meeting, pertaining to the $7,700,000 <br />Variable Rate Demand Purchase Multifamily Housing Revenue Bonds, <br />Series 1985 (Cedars Lakeside - Brutger Project) which were issued <br />by the City on December 31, 1985. <br />As you may remember, the proceeds of these Bonds were loaned <br />to the Borrower, Cedars Lakeside Limited Partnership, and escrowed <br />with the Trustee, subject to remarketing of the Bonds and <br />disbursement of bond proceeds for construction in 1986. The <br />Borrower and Piper, Jaffray are now commencing work on preparing <br />documentation for remarketing of the Bonds at a fixed rate. <br />In conjunction with finalization of documents in connection <br />with the remarketing, we will be asking the City Council to <br />approve various technical amendments to the original Bond <br />documents and various other documents executed in connection <br />with the remarketing. We anticipate that such requests for <br />approvals will be presented to you at either of your July <br />meetings, or, perhaps, at the first August meeting. I will <br />call you for the exact dates of those meetings and the dates <br />by which you need materials for the meeting dates. <br />As a preliminary matter, the Borrower is asking the City <br />to grant an extension of the July 1, 1986, deadline for recording <br />of the Declaration of Restrictive Covenants, which contains <br />covenants running with the land pertaining to use and operation <br />of the Project in compliance with state and federal rental housing <br />2E0 <br />PIHST NA'IDONAI. t1.nNl1 O1:11.DINO <br />SAINT I'AI!l.. MINNI0-01('A 1511101 <br />i 141L' IIOI-IL'ItS <br />I2410) 11)14 (1ISSTCR <br />N1NN HA 001.15. MINNESOTA 550.O2 <br />111241101 0001 <br />