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<br />,; <br /> <br />n. <br /> <br />'\> <br /> <br />RESOLUTION NO. 85-145 <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE OF <br />THE CITY'S $5,200,000 COMMERCIAL DEVELOP- <br />MENT REVENUE NOTE OF 1985 (COHASSET <br />INVESTMENTS PROJECT) <br /> <br />BE IT RESOLVED by the City Council of the City of New <br />Brighton, Minnesota, as follows (any capitalized term used <br />but not defined in this Resolution shall have the same <br />meaning prescribed for that term in the Agreement): <br /> <br />Section 1. Definitions. <br /> <br />l.Ol. In this Resolution the following terms have the <br />following respective meanings: <br /> <br />"Act" means <br />Development Act, <br />amended; <br /> <br />the Minnesota Municipal Industrial <br />Minnesota Statutes, Chapter 474) as <br /> <br />"Agreement" means the Loan Agreement, dated as of <br />December 1, 1985, between the City and the Borrower; <br /> <br />"Borrower" means Cohasset Investments, a Minnesota <br />partnership, its successors and permitted assigns; <br /> <br />"Building" means the Building as defined in the <br />Agreement; <br /> <br />"Ci ty" means the Ci ty of New Br ighton, Minnesota, <br />its successors and assigns; <br /> <br />"Conversion Date" means the same as that term is <br />defined in the Agreement; <br /> <br />"Costs of Construction" means those costs defined <br />as Costs of Construction in the Agreement; <br /> <br />"Equipment" means the Equipment as that term is <br />defined in the Agreement; <br /> <br />"Holder" means the Lender and any subsequent <br />owner(s) of the Note; <br /> <br />"Investment Agreement" means the same as that term <br />is defined in the Agreement; <br /> <br />- 1 - <br />