HomeMy WebLinkAbout1986-070 CCRMember Rich Theis introduced the following
resolution and moved its adoption:
RESOLUTION NO. 86 -70
RESOLUTION APPROVING AMENDMENTS TO THE MORTGAGE
ORIGINATION AND SALE AGREEMENT FOR MORTGAGES ORIGINATED
IN COLUMBIA HEIGHTS, 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 1982 Single Family Mortgage
Revenue Bond Program (the "Program the City of Brooklyn
Center, 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 Columbia Heights,
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;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Brooklyn Center, 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
mortgage loans originated in Columbia Heights,
which document is 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.
1
I
RESOLUTION NO. 86 -70
May 5, 1986
Date
ATTEST:,.
Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by member Gene Lhotka and upon vote being taken
thereon, the following voted in favor thereof: Dean Nyquist,
Gene Lhotka, Celia Scott, Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
1