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EDA RESOLUTION 20-EDA-335 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION APPROVING AN AMENDMENT TO THE LOAN ORIGINATION <br />AGREEMENT WITH THE CENTER FOR ENERGY AND ENVIRONMENT <br /> <br /> BE IT RESOLVED by the Board of Commissioners (the “Board”) of the Mounds View <br />Economic Development Authority (the “Authority”) as follows: <br /> <br /> Section 1. Recitals. <br /> <br /> 1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to <br />469.1081 (the “EDA Act”), to participate in providing certain loan programs (collectively, the <br />“Loans”). <br /> <br /> 1.02. The Authority on November 25, 2019 has approved a Loan Servicing Agreement <br />with the Center for Energy and Environment, a non-profit corporation formed under the laws of <br />the State of Minnesota, as the servicer of the Loans. <br /> <br /> 1.03. The Authority has determined that an amendment is necessary in order to add a new <br />loan program assisting home owners and commercial businesses in inspecting and repairing their <br />sewer lines. <br /> <br /> 1.04. The Authority has negotiated the terms of the amendment to the loan servicing <br />agreement (the “Agreement”), a copy of which is attached as Exhibit A to this resolution including <br />the program guidelines and budget. <br /> <br /> 1.05. The Board has reviewed the Amendment and finds that the execution thereof by the <br />Authority and performance of the obligations thereunder are in the best interest of the Authority, <br />the City and its residents. <br /> <br /> Section 2. Authorization. <br /> <br /> 2.01. The recitals set forth in this Resolution are incorporated into and made a part of this <br />Resolution. <br /> <br /> 2.02. The Board hereby approves the Amendment in substantially the form presented to <br />the Board on the date below and further subject to any modifications that do not alter the substance <br />of the transaction and that are approved by the Authority’s attorney. <br /> <br /> 2.03. The proper Authority officials, staff and consultants are authorized to execute the <br />Agreement and to take any and all other steps necessary or convenient in order to carry out the <br />obligations under the Agreement, as well as to fulfill the intent of this Resolution.