2011-016 Council Resolution - Laserfiche WebLink

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• "Agreement" - means this General Obligation Bond Proceeds Grant Agreement for Tree Removal and Replanting. "Certification" — if applicable, means a certification in the form attached as Attachment IA, in which the Public Entity acknowledges that its interest in all or part of the Real Property is bond financed property within the meaning of Minn. Stat. Sec. 16A.695 and is subject to certain restrictions imposed thereby. • • "Code" - means the Internal Revenue Code of 1986, as amended from time to time, and all treasury regulations, revenue procedures and revenue rulings issued pursuant thereto. "Commissioner's Order" - means the "Third Order Amending Order of the Commissioner of Finance Relating to Use and Sale of State Bond Financed Property" executed by the Commissioner of MMB and dated August 26, 2010, as amended. "Declaration" - if applicable, means a declaration in the form attached as Attachment IB, indicating that the Public Entity's ownership interest in the all or part of the Real Property is bond fmanced property within the meaning of Minn. Stat. Sec. 16A.695 and is subject to certain restrictions imposed thereby. "Event of Default" - means one or more of the events set forth in Section 2.05. "G.O. Bonds" - means that portion of the state general obligation bonds issued under the authority granted in Article XI, Sec. 5(a) of the Minnesota Constitution, the proceeds of which are used to fund the Program Grant, and any bonds issued to refund or replace such bonds. "Project" - means the Public Entity's identification, removal, disposal of and replacement of dead or dying shade trees located on the Real Property that are lost to forest pests or disease. "Public Entity" - means the entity identified as the "Public Entity" in the lead -in paragraph of this Agreement. "Real Property" - means the real property located in the County of Anoka, State of Minnesota, legally described in Exhibit A to the Certification attached as Attachment IA and/or generally described in Exhibit A to the Declaration attached as Attachment IB. "Useful Life of the Real Property" - means 30 years. Article II GRANT Section 2.01 Grant of Monies. The DNR shall make the Program Grant to the Public Entity and disburse the proceeds in accordance with the provisions of this Agreement. The Program Grant is not intended to be a loan even though the portion thereof that is disbursed may need to be returned to the DNR or the Commissioner of MMB under certain circumstances. Section 2.02 Public Ownership. The Public Entity acknowledges and agrees that the Program Grant is being funded with the proceeds of G.O. Bonds, and as a result thereof all of the Real Property must be owned by one or more public entities. Such ownership may be in the form of fee ownership and/or an easement. In order to establish that this public ownership requirement is satisfied, the .Public Entity represents and warrants to the DNR that it has, or will acquire, a fee simple and/or an easement 3