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EDA RESOLUTION 25-EDA-378 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />A RESOLUTION APPROVING A SIXTH AMENDMENT TO THE LOAN <br />ORIGINATION AGREEMENT WITH CENTER FOR ENERGY AND ENVIRONMENT <br />BE IT RESOLVED by the Board of Commissioners (the "Board") of the Mounds View Economic <br />Development Authority (the "Authority") as follows: <br />Section 1. Recitals. <br />1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to 469.1081 <br />(the "EDA Act"), to participate in providing certain loan programs (collectively, the "Loans"). <br />1.02. The Authority, on December 11, 2017, approved a Loan Origination agreement with the <br />Center for Energy and Environment, a non-profit corporation formed under the laws of the State <br />of Minnesota. <br />1.03. The Authority has determined that an amendment is necessary in order to extend the term of <br />the Agreement. <br />1.04. The Authority acknowledges that the terms of the amendment to the loan origination <br />agreement (the "Amendment"), a copy of which is attached as Exhibit A to this resolution, which <br />includes program guidelines (A-2) and budget (A-3) has not changed except for the Termination <br />Date, the elimination of the 0% Sewer Loan, and Emergency Loan Program, and a new budget of <br />$60,000. <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 />Section 2. Authorization. <br />2.01. The recitals set forth in this Resolution are incorporated into and made a part of this <br />Resolution. <br />2.02. The Board hereby approves the Amendment in substantially the form presented to the Board <br />on the date below and further subject to any modifications that do not alter the substance of the <br />transaction and that are approved by the Authority's attorney. <br />