Department of Finance city of chicago
December 3*2017
Andrea M. Valencia
City Clerk
121 North LaSalle Street Room 107
Chicago, Illinois 60602
RE: City of Chicago, Illinois
Multi-Family Mortgage Revenue Note, 2017 Series A
(John Pennycuff Memorial Apartments)
Dear Ms. Valencia:
Attached is the Determination Certificate and Funding Loan Notification, which is required to be filed with your office pursuant to Section 6 of the ordinance issuing City of Chicago, Illinois Multi-Family Mortgage Revenue Note, 2017 Series A (John Pennycuff Memorial Apartments), which was passed by the City Council on September 26th , 2017.
Please direct this filing to the City Council.
Carole Ly Brown Chief Financial Officer
121 NORTH LASALLE STREET, SUITE 700, CHICAGO. ILLINOIS 60602
DETERMINATION CERTIFICATE AND
FUNDING LOAN NOTIFICATION OF
CITY OF CHICAGO $12,500,000
Multi-Family Mortgage Revenue Note, 2017 Series A (John Pennycuff Memorial Apartments)
To: The City Council of the City of Chicago
Please be advised that, responsive to authority contained in the Note Ordinance adopted by the City Council (the "City Council") of the City of Chicago (the "City") on September 6, 2017 (the "Note Ordinance"), providing for the execution and delivery of: (a) the Funding Loan Agreement dated as of December 1, 2017 (the "Funding Loan Agreement") between the City and Citibank, N.A. (the "Funding Lender") and the issuance by the City pursuant thereto of a note in the maximum principal amount of not to exceed $12,500,000 (the "Governmental Lender Note"), and (b) the Borrower Loan Agreement dated as of December 1, 2017 (the "Borrower Loan Agreement") between the City and 2031-37 North Milwaukee LLC, an Illinois limited liability company (the "Borrower"), and the issuance by the Borrower thereto of a note in the maximum principal amount not to exceed $12,500,000 (the "Borrower Note") providing for the making of a loan ("Borrower Loan") by the City of the proceeds of the Government L...
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