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<br />Agreement, Loan Purchase Agreement, and Participation Agreement, wherein the City will sell a <br /> <br />senior participation interest in its existing CDBG loans to the Community Reinvestment Fund for <br /> <br />$255,000, with the proceeds therefrom to be dedicated to funding housing rehabilitation projects. <br /> <br />Section 2. The financing agreement shall provide that funds for repaying the $255,000 and <br /> <br />interest shall be limited to payments received by the City on CDGB loans, with no impact on the <br /> <br />City's General fund or any other City Fund. The agreement further shall provide that interest on the <br /> <br />$255,000 shall not exceed 7.5% per year. <br /> <br />The foregoing Resolution adopted this 27th day of January, 1997. <br /> <br />fi~ tjIJ. . <br /> <br />City Rec"Z <br /> <br />Resolution - 2 <br />