December l7 ,2013
Susana Mendoza, City Clerk 121 North LaSalle Street Room 107
Chicago, Illinois 60602
RE: Rosenwald Courts Apartments Project
Dear Ms. Mendoza:
Attached is the Funding Loan Notification which is required to be filed with your office pursuant to Section 6 of the ordinance authorizing a Funding Loan Agreement and Note not to exceed $58,600,000 by the City of Chicago in the Rosenwald Courts Apartments Project, which was passed by the City Council on October 16, 2013. Please direct this filing to the City Council.
Very Truly Yours,
Lots A. Scott
Chief Financial Officer
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CourtsBond Docs\CFO Notification of Sale Letter to Cily Clerktoc
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Funding Loan Notification of
City of Chicago S58,600,000
Multifamily Mortgage Revenue Note, Series 2013 (Rosenwald Courts)
To: The City Council of the City of Chicago
Please be advised that responsive to authority contained in the Ordinance adopted by the City Council (the "City Council") ofthe City of Chicago (the "City") on October 16, 2013 (the "Note Ordinance"), providing for the incurrence of $58,600,000 aggregate principal amount of multi-family housing revenue obligations for the Rosenwald Courts Project (the "Multi-Family Housing Financing"), a Funding Loan Agreement dated as of December 1, 2013 (the "Funding Loan Agreement"), and a promissory note in the original principal amount not to exceed $58,600,000 (the "Governmental Lender Note"), providing for the making of a loan of the Multi-Family Housing Financing (the "Funding Loan") to Rosenwald Courts Apartments, LP, an Illinois limited partnership (the "Borrower"), was entered into by me, as the Chief Financial Officer, on behalf of the City with and to Citibank, N.A. (the "Funding Lender"). Capitalized terms defined in the Note Ordinance are used with the same meanings herein.
The Note Ordinance provided that the Multi-Family Housing F...
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