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05-11-2015 Council Packet
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05-11-2015 Council Packet
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G. If the Grant Recipient pays monies to a Usee under a Use Contract, such Use <br />Contract must meet the requirements of Rev. Proc. 97-13, 1997-1 CB 632, so that such Use <br />Contract does not result in "private business use" under Section 141(b) of the Code. <br />H. It must be approved, in writing, by the Commissioner of Management and <br />Budget, and any Use Contract that is not approved, in writing, by the Commissioner of <br />Management and Budget shall be null and void and of no force or effect, <br />I. It must contain a provision requiring that each and every party thereto shall, <br />upon direction by the Commissioner of Management and Budget, take such actions and <br />furnish such documents to the Commissioner of Management and Budget as the <br />Commissioner of Management and Budget determines to be necessary to ensure that the <br />interest to be paid on the G.O. Bonds is exempt from federal income taxation. <br />J. It must contain a provision that prohibits the Usee from creating or allowing <br />any lien or encumbrance that is prior and superior to the Declaration to be created on or <br />imposed upon the Real Property or, if applicable, Facility, whether such lien or <br />encumbrance is voluntary or involuntary and including but not limited to a mechanic's lien <br />or a mortgage lien, without the prior written consent of the State Entity and the <br />Commissioner of Management and Budget. <br />K. If the amount of the Grant exceeds $200,000.00, then it must contain a <br />provision requiring the Usee to list any vacant or new positions it may have with state <br />workforce centers as required by Minn. Stat. § 116E66, Subd. 1, as it may be amended, <br />modified or replaced from time to time, for the term of the Use Contract. <br />Section 3.02 Sale. The Grant Recipient shall not sell any part of its ownership interest in <br />the Real Property or, if applicable, the Facility unless all of the following provisions have been <br />complied with fully. <br />A. The Grant Recipient determines, by official action, that such ownership interest <br />is no longer usable or needed as railroad grade crossing warning device <br />B. The sale is made as authorized by law. <br />C. The sale is for Fair Market Value. <br />D. Written notice of such proposed sale has been supplied to both the State Entity <br />and the Commissioner of Management and Budget at least 30 days prior thereto. <br />The acquisition of the Grant Recipient's interest in the Real Property and, if <br />applicable, the Facility at a foreclosure sale, by acceptance of a deed -in -lieu of foreclosure, <br />or enforcement of a security interest in personal property used in the operation of thereof, <br />by a lender that has provided monies for the acquisition of the Grant Recipient's interest in <br />or betterment of the Real Property and, if applicable, the Facility shall not be considered a <br />sale for the purposes of this Agreement if after such acquisition the lender operates such <br />Little Caanda GO Bond Proceeds Grant Agreement Ver — 5/06/15 <br />for MnDOT Antiquated Equipment Grants 12 <br />
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