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Last modified
7/17/2007 8:41:46 AM
Creation date
12/2/2004 10:40:27 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9957
Resolution Title
Providing for An Interfund Loan to Refund the Centre Point Project TIF Bonds
Resolution Date Passed
11/26/2001
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<br />EXHIBIT A <br /> <br />Form of Interfund Loan Note <br /> <br />$2,791,615 TAX INCREMENT INTERFUND LOAN NOTE OF 2001 <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS that the City of Roseville, Ramsey <br />County, Minnesota (the "City"), certifies that it is indebted and for value received from its Tax <br />Increment Debt Service Fund promises to pay to its Pooled Tax Increment Fund the principal <br />sum of TWO MILLION SEVEN HUNDRED NINETY -ONE THOUSAND SIX HUNDRED <br />AND FIFTEEN DOLLARS ($2,791,615) in the installments set forth on Schedule A attached <br />hereto and hereby made a part hereof, and to pay interest on so much of the principal amount of <br />the loan as remains unpaid, at the rates per annum which vary in each period and cause interest <br />for a period to equal the amount of the interest set forth on Schedule A. Interest on this Note is <br />payable semiannually on the dates and in the amounts set forth on Schedule A. <br /> <br />Redemption. This Note is subject to redemption and prepayment in whole or in part at <br />the option of the City. If redemption is in part, the City in its sole discretion shall determine <br />which installments of principal in which amounts shall be prepaid. <br /> <br />Purpose; Special Limited Obligation. This Note evidences an interfund loan and has <br />been issued pursuant to and in full conformity with the Constitution and laws of the State of <br />Minnesota for the purpose of providing money to refund certain tax increment bonds issued for <br />the Centre Pointe project and is payable solely out of tax increments of the City's Tax Increment <br />Financing Districts No. 1-14 and 16 which constitute "Project Tax Increments and Tax <br />Increments received from development pursuant to the Prior Development Agreement" within <br />the meaning of the Amended and Restated Development Agreement between the City of <br />Roseville, Minnesota, and Ryan Twin Lakes Limited Partnership (Centre Pointe Project), dated <br />as of May 21, 1997. <br /> <br />No Transfer. This Note evidences an interfund loan and may not be owned by, or <br />transferred to, any person other than the City. <br /> <br />IN WITNESS WHEREOF, the City of Roseville, Ramsey County, Minnesota, by its City <br />Council has caused this Note to be executed on its behalf by the signatures of its Mayor and of <br />its City Manager, all as of November 26,2001. <br /> <br />CITY OF ROSEVILLE, RAMSEY COUNTY, <br />MINNESOTA <br /> <br />Mß:f:L <br />CityM7J!dJ' &eÉ <br />
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