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CC RES 06-096 RESOLUTION AUTHORIZING THE SALE AND ISSUANCE OF VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS (THE LANDINGS AT SILVER LAKE VILLAGE PROJECT), SERIES 2007; ESTABLISHING THE SECURITY THEREFOR AND AUTHORIZING THE EXECUTION OF DOCUMENTS
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CC RES 06-096 RESOLUTION AUTHORIZING THE SALE AND ISSUANCE OF VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS (THE LANDINGS AT SILVER LAKE VILLAGE PROJECT), SERIES 2007; ESTABLISHING THE SECURITY THEREFOR AND AUTHORIZING THE EXECUTION OF DOCUMENTS
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4/19/2016 3:41:03 PM
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RES 2006
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CC RES 06-096 RESOLUTION AUTHORIZING THE SALE AND ISSUANCE OF VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS (THE LANDINGS AT SILVER LAKE VILLAGE PROJECT), SERIES 2007; ESTABLISHING THE SECURITY THEREFOR AND AUTHORIZING THE EXECUTION OF DOCUMENTS
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• b) a Loan Agreement relating to the Senior Bonds dated as of October 1, <br /> 2004, between the City and the Borrower (the "Senior Bonds Loan <br /> Agreement"); <br /> c) a Mortgage, Security Agreement, Assignment of Leases and Rents and <br /> Fixture Filing dated as of October 1, 2004, relating to the Senior Bonds <br /> (the "Mortgage") from the Borrower to the City; <br /> d) an Assignment of Mortgage, Security Agreement, Assignment of Leases <br /> and Rents and Fixture Filing relating to the Senior Bonds dated as of <br /> October 1, 2004 (the "Mortgage Assignment") by and between the City <br /> and the Trustee; <br /> e) a Tax Compliance Agreement dated as of October 1, 2004 (the "Tax <br /> Compliance Agreement") relating to the Senior Bonds, by and between <br /> the City,the Borrower and the Trustee; <br /> f) an Indenture of Trust dated as of October 1, 2004, relating to the <br /> Subordinate Bonds by and between the City and the Trustee (the <br /> "Subordinate Bonds Trust Indenture"); <br /> g) a Subordinate Loan Agreement dated as of October 1, 2004, relating to the <br /> • Subordinate Bonds by and between the City and the Borrower (the <br /> "Subordinate Bonds Loan Agreement"); <br /> h) a Disbursing Agreement dated as of October 1, 2004 (the "Disbursing <br /> Agreement"), related to the 2004 Bonds by and between the Borrower, the <br /> Trustee, LaSalle Bank National Association, as lender(the "Lender"), the <br /> Ramsey County Housing and Redevelopment Authority(the "Ramsey <br /> HRA"), Minnwest Bank M.V. (the "Subordinate Bonds Purchaser"), the <br /> City and Commercial Partners Title, LLC; <br /> i) a Master Subordination Agreement dated as of October 1, 2004 (the <br /> "Subordination Agreement"), by and between the City, the Trustee, the <br /> Borrower, the Subordinate Bonds Purchaser,the Ramsey HRA and the <br /> Lender. <br /> 1.03. The Borrower has proposed that the City issue its $6,400,000 Multifamily <br /> Housing Revenue Refunding Bonds (The Landings at Silver Lake Village Project), Series 2007 <br /> (the "Refunding Bonds") in order to refund, on the date of issuance of the Refunding Bonds, the <br /> Subordinate Bonds. The Borrower has proposed that the Refunding Bonds be issued on a parity <br /> with the Senior Bonds pursuant to a First Supplemental Indenture of Trust dated as of January 1, <br /> 2007 (the"First Supplemental Indenture") between the City and the Trustee, amending the <br /> Senior Bonds Indenture. The proceeds of the Refunding Bonds would be loaned to the Borrower <br /> • -2- <br />
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