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Last modified
7/17/2007 8:38:35 AM
Creation date
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9463
Resolution Title
Authorizing the sale and issuance of Variable Rate Demand Multifamily Housing Refunding Revenue Bonds (Rosepointe II Project) Series 1997 for Rosepointe Housing Limited Partnership for the purpose of refunding certain outstanding revenue bonds of th
Resolution Date Passed
9/22/1997
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<br />5.02. Execution. The Mayor and the City Manager are hereby authorized <br />and directed to execute the 1997 Bonds as prescribed herein and in the Indenture and <br />to deliver them to the Trustee. t02:ether with a certified COD V of this Resolution, the <br />, u ~ J ' <br />other documents required in the Indenture, and such other certificates, documents <br /> <br />__..J ~__.L._~__....._L_ __ _____ L_ ___~___~_L_ .1._ _LL__L .1.L_ .1.___...__.1...:........-._ 1-.___':_ <br />cUlU lll1:iU-Ulllt::lll1:i é:1::' lllé:1Y ut:: é:1pprVpuaIt:: IV t::llt::CI Ult:: lLé:1ll::.aCLlVll1:i llt::Lt::lll <br />contemplated. The Trustee is hereby appointed authenticating agent for the 1997 <br />Bonds pursuant to Minnesota Statutes, Section 475.55, Subdivision 1. <br /> <br />Section 6. Authentication of Proceedings. <br /> <br />The Mayor, City Manager and other officers of the City are authorized <br />and directed to furnish to the Purchaser and counsel to the Purchaser certified copies <br />of all proceedings and records of the City relating to the 1997 Bonds, and such other <br />affidavits and certificates as may be required to show the facts relating to the legality <br />.::Inn m;:¡rkpt;:¡hil1hr nf thp 1 QQ7 "Rnnrl" ::I" "t1r}, f;:¡rtc:: ;:¡nnp;:¡r frnm thp hnnkc;: ;:¡nrl rprorn" <br />--..- ........_........_~-_.........~J _.a. ........- ....... "'. -............-..........~ ....-."'.&... .a._'-"........ -rr--'" ¿...-......... ......- .....--........... -....- ...---.--.... <br /> <br />in the officer's custody and control or as otherwise known to them, and all such <br />certified copies, certificates and affidavits, including any heretofore furnished, shall <br />constitute representations of the City as to the truth of all statements contained <br />therein. <br /> <br />Section 7. Limitations of the City's Obligations. <br /> <br />Notwithstanding anything contained in the 1997 Bonds or the City <br />Bond Documents, the 1997 Bonds shall not constitute a debt of the City within the <br />meanin£: of anv constitutional or statutory limitation. and shall not be payable from <br />v ,¿ J' ... ., <br />nor charged upon any funds of the City other than the revenues pledged to the <br />payment thereof pursuant to the City Bond Documents, and no Holder of the 1997 <br />Bonds shall ever have the right to compel any exercise of the taxing power of the <br />City to pay the 1997 Bonds or the premium, if any, or interest thereon, or to enforce <br />payment thereof against any property of the City other than those rights and <br />interests of the City which have been pledged to the payment thereof pursuant to <br />thp rihr Rnn" nn,.,,,montc:: ::In" t1,o 1 QQ7 Rnn"c:: C::1,::l11 nnt rnnc:tit11h:. ::I r},;:¡rO"p l;pn or <br />....&0,,_ -......J -.....,............. _'"''''~....&.L_...L~''-'' -......""" ............. ..L...,,,,, ~'-'Jo.L""""" .....r................ .....-.. __AL............._.._ - -.....-...ö-, <br /> ......-...... -- <br /> <br />encumbrance, legal or equitable, upon any property of the City other than those <br />. 't. ". . r.1 ,....... 'I.' 1 1 "_1._ 1~_ ______~____IL1______£ <br />ngnts ana IntereSts or tne LIty wnIcn nave oeen p!eagea to {ne payment tnert::VL <br />pursuant to the City Bond Documents. The agreement of the City to perform <br />covenants and other provisions contained in this Resolution or the 1997 Bonds or <br />the City Bond Documents shall be subject at all times to the availability of the <br />revenues furnished by the Partnership sufficient to pay all costs of such performance <br />or the enforcement thereof, and the City shall not be subject to any personal or <br />pecuniary liability thereon. <br />
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