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<br />//".....""" <br /> <br />\.,..... <br /> <br />"'-,,~" <br /> <br />If the Bonds are for housing, the following requirements must be met: <br /> <br />b. The development will not have a negative impact on the vacancy rates of <br />existing multiple dwellings in the City. <br /> <br />c. There is reasonable assurance that the development will be able to comply <br />with low-to-moderate income requirement over the life of the bond issue. <br /> <br />Final approval shall not be granted by the City Council until the project has <br />received approval with respect to zoning, site design, building design, and <br />platting. The applicant shall use a bond counsel deshwated bv the City. <br /> <br />The bond indenture agreement shall require: <br /> <br />1) The developer to annually certify to the City on the anniversary date of the <br />bond, compliance with the federal low-to-moderate income requirement <br />(If the bonds are for housing). <br /> <br />2) The program trustee, as approved by the City Council, shall inform the <br />City of any noncompliance trends. <br /> <br />3) Other necessary compliance requirements as determined to be necessary. <br /> <br />The undersigned herby certify that all of the foregoing information is true <br />information and do <br /> <br /><.~~ <br /> <br /> <br />LS <br /> <br />LS <br /> <br />LS , .rt (''I'' <br />Signed thir=-;;2/t day of t /t:S{-7J~-\ ,200 ( at <br />County of'i(2k r\tf~.:J in the state of Minnesota. <br /> <br />