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Last modified
7/17/2007 9:18:53 AM
Creation date
4/25/2005 12:19:51 PM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
7680
Resolution Title
$900,000 Commercial Development Revenue Note of 1984, Series D
Resolution Date Passed
12/26/1984
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<br />NOTE RESOLUTION <br /> <br />RESOLVED by the City Council of the City of <br />Roseville, as follows: <br /> <br />ARTICLE ONE <br /> <br />DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS <br /> <br />1-1. Definitions. <br /> <br />The terms used herein, unless the context hereof <br />shall require otherwise shal1 have the following meanings, and <br />any other terms defined in the Loan Agreement shall have the <br />same meanings when used herein as assigned to them in the Loan <br />Agreement unless the context or use thereof indicates another <br />or different meaning or intent. <br /> <br />Act: the Minnesota Municipal Industrial Development Act, <br />Minnesota Statutes, Chapter 474, as amended: <br /> <br />Assignment of Rents and Leases: the agreement to be <br />executed by the Borrower assigning all the rents, issues and <br />profits derived from the Project to the Lender to secure the <br />repayment of the Note and interest thereon: <br /> <br />Bond Counsel: the firm of Briggs and Morgan, Professional <br />Association, of St. Paul and Minneapolis, Minnesota, or any <br />other firm of nationally recognized bond counsel, and any <br />opinion of Bond Counsel shal1 be a written opinion signed by <br />such Bond Counsel; <br /> <br />Borrower: Health Resources Rosevil1e Limited Partnership, <br />a Minnesota limited partnership, its successors, assigns, and <br />any surviving, resulting or transferee business entity which <br />may assume its obligations under the Loan Agreement; <br /> <br />City: the City of Roseville, Minnesota, its successors <br />and assigns; <br /> <br />Construction Fund: the fund established by the City <br />pursuant to this Resolution and into the Construction Fund the <br />proceeds of the Note wil1 be deposited; <br /> <br />Disbursing Agreement: the agreement to be executed by the <br />City, the Borrower, the Lender and Title Insurance Company of <br />Minnesota, relating to the disbursement and payment of Project <br />Costs for the construction and installation of the Project: <br /> <br />2 <br />
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