HomeMy WebLinkAbout88-154 - ADMIN Resolution - City Council - 1988/10/171
Resolution No. 88-154
Resolution authorizing the Execution and Delivery of an
Extension with respect to the City of St. Louis Park,
Minnesota $8,715,000 Multifamily Housing Revenue
Refunding Bonds (Oakmont Place Project)
WHEREAS, the City of St. Louis Park, Minnesota (the "City") has issued its
$8,715,000 Multifamily Housing Revenue Refunding Bonds (Oakmont Place Project)
(the "Bonds"), originally dated September 2, 1987 and as amended pursuant to an
Amended and Restated Indenture of Trust (the "Indenture"), dated February 29,
1988.between the City and First Trust National Association (the "Trustee 1'); and
WHEREAS, the City has received a request from Oakmont Development
Limited Partnership (the "Developer") that the City enter into an Extension with
the Trustee and the Partnership; and
WHEREAS, the City, the Trustee and the Developer have agreed upon the
Extension and the execution thereof is authorized under the Indenture;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ST. LOUIS PARK:
1. That the City Council of the City of St. Louis Park hereby authorizes
the execution and delivery of the Extension between and among the City, the
Trustee and the Developer, substantially in the form on file with the City. The
Mayor and City Manager of the City are hereby authorized and directed to execute
and deliver the Extension and the City Clerk of the Issuer is hereby authorized and
directed to attest the execution thereof under the corporate seal of the Issuer.
2. This resolution shall be in full force and effect from and after its
passage.
Adopted by the City Council October 17, 1988
CU- l
Mayor
ATTEST: Approved as to form and execution:
City C1
Reviewed for Administration:
ity Attorney
City Manager