Department of Finance city of chicago
.2021
Anna M. Valencia Office of the City Clerk 121 North LaSalle Street Room 107
Chicago, Illinois 60602
RE: Multi-Family Housing Revenue Note in an aggregate principal amount not to exceed $12,000,000, for the Paseo Boricua Project, Series 2021.
Dear Ms. Valencia:
Attached is the Funding Loan Notification which is required to be filed with your office pursuant to Section 6 of the Original Ordinance authorizing the issuance of the Multi-Family Housing Revenue Note, which was passed by the City Council on June 12, 2019. On December 16, 2020, the Original Ordinance was amended authorizing the issuance of the Multi-Family Housing Revenue Note in an aggregate principal amount not to exceed $12,000,000, Series 2021, for the Paseo Boricua Project.
Please direct this filing to the City Council.
Very Truly Yours,
Jennie Huang Bennett Chief Financial Officer
1.21. NORTH LASALLE STREET. SUITE 700, CHICAGO, ILLINOIS 60602
Funding Loan Notification of
$8,100,000 City of Chicago
Multi-Family Housing Revenue Note (Paseo Boricua Project), Series 2021
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 "Cily Council") of the City of Chicago (the "Cily") on June 12, 2019. as amended by an Ordinance adopted on December 16, 2020 (as so amended, the "Ordinance"). providing for the execution and delivery of the Funding Loan Agreement (as defined below) and the sale of the $8,100,000 principal amount: Multi-Family Housing Revenue Note (Paseo Boricua Project), Series 2021 (the "Note"), the Funding Loan Agreement dated as of April 1, 2021 (the "Funding Loan Agreement"), providing for the making of a loan (the "Funding Loan'') to the City by .1.P.Morgan Chase Bank. N.A., a national banking association (the "Funding Lender"):, the proceeds of which will be loaned (the ''Borrower Loan"') by the City to Paseo Boricua Arts. LL...
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