HomeMy WebLinkAboutResolution 86-28CITY OF COLUMBIA HEIGHTS
RESOLUTION NO. 86-28
BEING A RESOLUTION APPROVING AMENDMENTS TO THE MORTGAGE ORIGINATION AND SALE
AGREEMENT FOR MORTGAGES ORIGINATED IN COLUMBIA HEIGHTS, A BUILDER-DEVELOPER
AND RESALE COMMITMENT AGREEMENT RELATING TO COLUMBIA HEIGHTS, ALL RELATING
TO THE 1982 SINGLE MORTGAGE REVENUE BOND PROGRAM UNDERTAKEN JOINTLY BY THE
CITY OF BROOKLYN CENTER, THE CITY OF COLUMBIA HEIGHTS, THE CITY OF MOORHEAD
AND THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ROBBINSDALE
MINNESOTA '
WHEREAS, pursuant to its ]982 Single Family Mortgage Revenue Bond Program (the
"Program"), the City of Columbia Heights, Minnesota (the '~City") authorized the
issuance of Single Family Mortgage Revenue Bonds, Series 1982, issued jointly
with the City of Moorhead, Minnesota, the City of Brooklyn Center, Minnesota
and The Housing and Redevelopment Authority in and for the City of Robbinsdale,
Minnesota; and,
WHEREAS, there have been prepared certain amendments to the Mortgage Origination
and Sale Agreements for mortgage loans originated in Columbia Heights, dated as
of December 29, 1982, in order to more accurately and efficiently carry out the
intent of the Program; and
WHEREAS, there has been prepared an amendment to the Builder-Developer and Resale
Commitment Agreement, dated as of December 29, 1982 and approved by the City;
O NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Columbia Heights,
Minnesota:
1. The Mayor and City Manager are hereby authorized and directed to execute and
deliver the Amendment to the Mortgage Origination and Sale Agreement for mort-
gage loans originated in Columbia Heights, and the Amendment to the Builder-
Developer and Resale Agreement, which documents are hereby approved in the
form now on file with the City Manager, with such necessary and appropriate
variations, omissions, and insertions as are not materially inconsistent
with such form, and as the Mayor, in his discretion, shall determine.
2. The Mayor and City Manager are hereby authorized and directed to execute
and deliver on behalf of the City such additional certificates and documents
as are deemed necessary by bond counsel to effectuate the agreements contained
in the aforementioned Amendments.
Adopted this 14th day of April, 1986.
Offered by: Petkoff
Seconded by: Paulson
Roll call: All ayes
oAnne Student, CounciT-Secretary
Mayor'l~ruce G. Nawrocki