Resolution 10257 - 2026/06/08 - Laserfiche WebLink

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CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA Member H'1-P� 1 h L� introduced the following resolution and moved its adoption: RESOLUTION NO. 10257 AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF ITS MULTIFAMILY HOUSING REVENUE OBLIGATIONS RELATING TO THE SILVER LAKE POINTE APARTMENTS PROJECT; APPROVING THE FORMS OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE OBLIGATIONS AND RELATED DOCUMENTS; PROVIDING FOR THE SECURITY, RIGHTS, AND REMEDIES WITH RESPECT TO THE OBLIGATIONS; AND GRANTING APPROVAL FOR CERTAIN OTHER ACTIONS WITH RESPECT THERETO WHEREAS, the City of Mounds View, Minnesota (the "City"), is a home rule charter city and political subdivision duly organized and existing under its Charter and the Constitution and laws of the State of Minnesota; and WHEREAS, pursuant to Minnesota Statutes, Chapter 462C and 474A, as amended (collectively, the "Act"), the City is authorized to carry out the public purposes described in the Act by issuing revenue bonds and notes or other obligations to finance or refinance multifamily housing developments located within the City, and as a condition to the issuance of such revenue obligations, adopt a housing program providing the information required by Section 462C.03, subdivision 1 a, of the Act; and WHEREAS, in the issuance of the City's revenue obligations and in the making of a loan to finance a multifamily housing development, the City may exercise, within its corporate limits, any of the powers that the Minnesota Housing Finance Agency may exercise under Minnesota Statutes, Chapter 462A, as amended, including without limitation under the provisions of Minnesota Statutes, Chapter 475, as amended; and WHEREAS, TDP Mounds View Housing, LP, a Minnesota limited partnership (the "Borrower"), has requested that the City issue its revenue obligations, in one or more series, under the Act and lend the proceeds thereof to the Borrower to finance the costs of the acquisition, rehabilitation, and equipping of an approximately 83-unit senior rental housing facility known as Silver Lake Pointe and located at 2701 County Road I in the City (the "Project"); and WHEREAS, on November 24, 2025, the City Council adopted a preliminary resolution (the "Preliminary Resolution") which constitutes a reimbursement resolution and an official intent of the City to reimburse expenditures with respect to the Project from the proceeds of tax-exempt revenue obligations in accordance with the provisions of Treasury Regulations, Section 1.150-2; and WHEREAS, the City received Certificate of Allocation No. 525, dated January 12, 2026, from Minnesota Management and Budget allocating volume cap bonding authority to the City in the amount of $7,000,000 for the issuance of the Obligations; and 4933-6580-5482.2