Common use of Issuance of Bonds Clause in Contracts

Issuance of Bonds. The City hereby authorizes Minnesota Housing to issue, on behalf of the City, qualified mortgage bonds, as that term is used in the Code, in an amount equal to the Commitment Amount, and Minnesota Housing agrees to issue those bonds if and when federal law authorizes and Minnesota Housing deems it is economically feasible to do so. (THE REMAINING PORTION OF THIS PAGE IS INTENTIONALLY LEFT BLANK)