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CITY OF ST. ANTHONY VILLAGE <br /> RESOLUTION NO. 12-068 <br /> RESOLUTION AUTHORIZING THE REMARKETING OF VARIABLE RATE DEMAND <br /> MULTIFAMILY HOUSING REVENUE REFUNDING BONDS (THE LANDINGS AT <br /> SILVER LAKE VILLAGE PROJECT), SERIES 2007 AND AUTHORIZING THE <br /> EXECUTION OF DOCUMENTS <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota(the <br /> "City"), as follows: <br /> Section 1. Recitals. <br /> 1.01. The City has previously issued its Variable Rate Demand Multifamily Housing <br /> Revenue Refunding Bonds (The Landings at Silver Lake Village Project), Series 2007 (the <br /> "Bonds") pursuant to an Indenture of Trust dated as of October 1, 2004 (the"2004 Indenture"), <br /> between the City and U.S. Bank National Association, as successor to LaSalle Bank National <br /> Association, as trustee (the "Trustee"), as amended by a First Supplemental Indenture of Trust <br /> dated as of January 1, 2007 (the "First Supplemental Indenture"; the 2004 Indenture as so <br /> amended, the "Original Indenture"), between the City and the Trustee. Pursuant to a Loan <br /> Agreement dated as of October 1, 2004 (the "2004 Loan Agreement"), between the City and St. <br /> Anthony Leased Housing Associates 1, Limited Partnership, a Minnesota limited partnership (the <br /> "Borrower"), as amended by a First Amendment to Loan Agreement dated as of January 1, 2007 <br /> (the "First Amendment to Loan Agreement"; the 2004 Loan Agreement as so amended, the <br /> "Original Loan Agreement") the City loaned the proceeds of the Bonds to the Borrower for the <br /> purpose of refinancing a portion of the costs of a multifamily housing facility located at 2551 <br /> 38�h Avenue NE in the City. <br /> 1.02. The City has received a proposal from the Borrower that the City consent to <br /> certain amendments to the Original Indenture, Original Loan Agreement in connection with a <br /> proposed remarketing of the Bonds and delivery of certain substitute credit facilities for the <br /> Bonds, consisting of an Amended and Restated Indenture of Trust dated as of July 1, 2012 (the <br /> "Indenture") between the City and the Trustee and an Amended and Restated Loan Agreement <br /> dated as of July 1, 2012 (the "Loan Agreement"), between the City and the Borrower. <br /> 1.03. In connection with the original issuance of the Bonds, the City has entered into <br /> certain agreements and certificates, including but not limited to, in addition to the Original <br /> Indenture and Original Loan Agreement: <br /> a) a Mortgage, Security Agreement, Assignment of Leases and Rents and <br /> Fixture Filing dated as of January 1, 2007 (the "Mortgage") from the <br /> Borrower to the City; <br /> b) an Assignment of Mortgage, Security Agreement, Assignment of Leases <br /> and Rents and Fixture Filing relating to the Bonds dated as of January 1, <br />