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