Subdivision 1. Resolution terms part of contract. Any resolution authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract with the holders thereof, as to the matters referred to in this section.
Subd. 2. Liens. It may pledge or create a lien on all or any part of the moneys or property of the agency and any moneys held in trust or otherwise by others to secure the payment of the notes or bonds or of any issue thereof, subject to such agreements with bondholders or noteholders as may then exist.
Subd. 3. Treatment of agency money. It may provide for the custody, collection, securing, investment, and payment of any moneys of the agency.
Subd. 4. Reserves; sinking funds. It may set aside reserves or sinking funds and provide for the regulation and disposition thereof and may create other special funds into which any moneys of the agency may be deposited.
Subd. 5. Limit application of sale proceeds; repayment pledge. It may limit the loans and securities to which the proceeds of sale of notes or bonds may be applied and may pledge repayments thereon to secure the payment of the notes or bonds or of any issue thereof.
Subd. 6. Limit more notes, bonds. It may limit the issuance of additional notes or bonds, the terms upon which additional notes or bonds may be issued and secured, and the refunding of outstanding or other notes or bonds.
Subd. 7. Amendment, consent procedure. It may prescribe the procedure, if any, by which the terms of any contract with noteholders or bondholders may be amended or abrogated, the amount of notes or bonds the holders of which must consent thereto, and the manner in which such consent may be given.
Subd. 8. Trustee vesting. It may vest in a trustee or trustees such property, rights, powers and duties in trust as the agency may determine, which may include any or all of the rights, powers and duties of the bondholders, or may limit the rights, powers and duties of such trustee.
Subd. 9. Default and the like. It may define the acts or omissions to act which shall constitute a default in the obligations and duties of the agency and may provide for the rights and remedies of the holders of bonds or notes in the event of such default, and provide any other matters of like or different character, consistent with the general laws of the state and other provisions of this chapter, which in any way affect the security or protection of the notes or bonds and the rights of the holders thereof.
Subd. 10. Deferral of issuance and delivery. It may provide that the agency may defer the issuance and delivery of the bonds to the underwriters to a designated future date when the proceeds of the bonds are required for one or more of the purposes specified in section 462A.08.
1971 c 702 s 10; 1973 c 515 s 27-31; 1994 c 586 s 5
Structure Minnesota Statutes
Chapters 460 - 463 — Local Government Police Powers
Chapter 462A — Housing Finance Agency
Section 462A.03 — Definitions.
Section 462A.04 — Housing Finance Agency.
Section 462A.041 — Meetings By Telephone Or Other Electronic Means.
Section 462A.05 — Specific Powers Of The Agency.
Section 462A.057 — Minnesota Urban And Rural Homesteading Program.
Section 462A.06 — General Powers Of The Agency.
Section 462A.065 — Financial Information.
Section 462A.07 — Additional Powers And Duties Of The Agency.
Section 462A.073 — Single-family Mortgage Bonds; Limitations.
Section 462A.08 — Bonds And Notes; Purposes, Terms, Approval.
Section 462A.09 — Bonds And Notes; Resolutions Authorizing, Additional Terms, Sale.
Section 462A.10 — Bonds And Notes; Optional Resolution And Contract Provisions.
Section 462A.105 — Interest Rate Exchanges.
Section 462A.12 — Bonds And Notes; Nonliability Of Individuals.
Section 462A.13 — Bonds And Notes; Purchase By Agency.
Section 462A.14 — Bonds And Notes; Nonliability Of State.
Section 462A.15 — State Pledge Against Impairment Of Contracts.
Section 462A.16 — Default In Payments; Appointment Of Trustee.
Section 462A.17 — Powers And Duties Of Trustee.
Section 462A.18 — Moneys Of Agency.
Section 462A.19 — Exemption From Taxes.
Section 462A.20 — Housing Development Fund; Creation, Sources.
Section 462A.201 — Housing Trust Fund Account.
Section 462A.202 — Local Government Unit Housing Account.
Section 462A.2035 — Manufactured Home Park Redevelopment Program.
Section 462A.204 — Family Homeless Prevention And Assistance Program.
Section 462A.2065 — Report On Loss Of Housing.
Section 462A.209 — Homeownership Education, Counseling, And Training Program.
Section 462A.2091 — Contract For Deed Guarantee Account.
Section 462A.2093 — Innovative And Inclusionary Housing Program.
Section 462A.2097 — Rental Housing.
Section 462A.21 — Housing Development Fund; Advances, Use Repayment.
Section 462A.221 — Definitions.
Section 462A.222 — Low-income Housing Credits.
Section 462A.223 — Minnesota Housing Finance Agency; Designated Agency.
Section 462A.225 — State Register Notice.
Section 462A.235 — Commissioner Of Commerce; Duties.
Section 462A.24 — Construction; Grants And Loans; Priorities.
Section 462A.29 — Interagency Coordination On Homelessness.
Section 462A.30 — Definitions.
Section 462A.31 — Community Land Trusts.
Section 462A.33 — Economic Development And Housing Challenge Program.
Section 462A.34 — Visitability Requirement.
Section 462A.35 — Minnesota Manufactured Home Relocation Trust Fund.
Section 462A.355 — Advances To Minnesota Manufactured Home Relocation Trust Fund.
Section 462A.36 — Nonprofit Housing Bonds; Authorization; Standing Appropriation.
Section 462A.37 — Housing Infrastructure Bonds; Authorization; Standing Appropriation.
Section 462A.375 — Additional Purposes, Housing Infrastructure Bonds.
Section 462A.38 — Workforce And Affordable Homeownership Development Program.
Section 462A.39 — Workforce Housing Development Program.
Section 462A.40 — Minnesota Housing Tax Credit Contribution Account.