My WebLink
|
Help
|
About
|
Sign Out
Home
res_7821
Roseville
>
City Council
>
City Council Resolutions
>
07xxx
>
7800
>
res_7821
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/17/2007 9:20:12 AM
Creation date
4/25/2005 12:23:45 PM
Metadata
Fields
Template:
Roseville City Council
Document Type
Council Resolutions
Resolution #
7821
Resolution Title
Authorizing a Project under Minnesota Statutes, Chapter 462C and the Issuance of Rental Housing Revenue Bonds to Finance the Project
Resolution Date Passed
10/28/1985
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
6
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />to pay all e~p~nses of the op~c3tion and <br />maintdnance of the Project, including, but without <br />limitation, ad~quate insurance thereon and <br />insurance against all liability for injury to <br />persons or p~opcrty arising from the operation <br />thereof, and all taxes and special assessments <br />levied upon or with respect to the Project <br />Premises and payable dueing the tenn of the <br />applicable Loan Agreement and the Indenture; <br /> <br />(h) under the .provisions of the A.ct, and as <br />provided in the Loan Agreements and Indenture, the <br />Bonds are not to be payable from or charged upon <br />any funds other than the revenue pledged to the <br />payment thereof; the City is not subject to any <br />liability thereon; no holder of any Bonds shall <br />ever have the right to compel any exercise by the <br />City of its taxing powers to pay any of the Bonds <br />or the interest or premium thereon, or to enforce <br />payment thereof against any property of the City <br />except the interests of the City in the Loan Agree- <br />ments which have been assigned to the Trustee <br />under the Indenture; the Bonds shall not <br />constitute a charge, lien or encumbrance, legal or <br />equitable upon any property of the City except the <br />interests of the City in the Loan A.greements which <br />have been assigned to the Trustee under the <br />Indenture; the Bonds shall recite that the Bonds <br />are payable solely from the revenues pledged to <br />the payment thereof; and, the Bonds shall not <br />constitute a debt of the City within the meaning <br />of any constitutional or statutory limitation. <br /> <br />6. Subject to the approval of the City Attorney and <br />the provisions of Section lO, the forms of the Loan Agreements, <br />the Purchase Agreement and Indenture and exhibits thereto and <br />all other documents described in paragraph 4 hereof are <br />approved substantially in the form submitted except as other- <br />wise provided in paragraph 7 hereof. The Loan Agreements and <br />Indenture, in substantially the form submitted, are directed to <br />be executed in the name and on behalf of the City by the Mayor <br />and the City Manager. The Purchase Agreement and any other <br />documents and certificates necessary to the transaction <br />described above shall be executed by the appropriate City <br />officers. Copies of all of the documents necessary to the <br />transaction herein described shall be delivered, filed and <br />recorded as provided herein and in said Loan Agreements and <br />Indenture. <br />
The URL can be used to link to this page
Your browser does not support the video tag.