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CC PACKET 12112006
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CC PACKET 12112006
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7/30/2015 11:08:50 AM
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City Council
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City Code Chapter Amendment
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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 />48 <br />
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