Resolution 9511 - Laserfiche WebLink

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1.06. There has been presented before the City Council an amended and restated form of the Series 2014C Note, which incorporates the Amendments. Section 2. Findings; Authorizations and Approvals. 2.01. The City Council hereby consents to and approves the Amendments to the Series 2014C Note and authorizes and directs the Mayor and the City Administrator to execute the amended and restated Series 2014C Note substantially in the form on file with the City on the date hereof, which is hereby approved, with such changes as shall be approved by the Mayor and the City Administrator; provided that the execution thereof by the Mayor and the City Administrator shall be conclusive evidence of such approval. 2.02. The Mayor and the City Administrator are hereby designated as the representatives of the City with respect to the Amendments to the Series 2014C Note. The Mayor, the City Administrator, and other officers of the City are authorized and directed to execute and deliver any and all certificates, agreements, or other documents which are required by the Loan Agreement, or any other agreements, certificates, or documents which are deemed necessary by Bond Counsel to documents as are necessary, customary, or appropriate in connection with the reissuance of the Series 2014C Note, or are required by Bond Counsel to complete the Amendments to the Series 2014C Note and establish the validity or enforceability of the Series 2014C Note or the exclusion from gross income of interest on the Series 2014C Note for purposes of federal income taxation and State of Minnesota taxation (including but not limited to the execution of an Information Return for Tax -Exempt Private Activity Bond Issues, Form 8038). 2.03. As provided in the Loan Agreement and the Note Resolution, the Series 2014C Note shall not be payable from nor charged upon any funds other than the revenues pledged to its payment, nor shall the City be subject to any liability thereon, except as otherwise provided in this paragraph. No holder of the Series 2014C Note shall ever have the right to compel any exercise by the City of its taxing powers to pay any of the Series 2014C Note or the interest or premium thereon, or to enforce payment thereof against any property of the City except the interests of the City in the Loan Agreement and the revenues and assets thereunder, which have been assigned to the Lender pursuant to the Pledge Agreement. The Series 2014C Note shall not constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the City, except the interests of the City in the Loan Agreement, and the revenues and assets thereunder, which have been assigned to the Lender pursuant to the Pledge Agreement. Section 3. Effective Date. This resolution shall be in full force and effect from and after its passage. Approved by the City Council of the City of Mounds View, Minnesota, this 61" day of December, 2021. Mayor Attest: City Ayhisstrato;_4 Error: Unknown documepi property name.