88-616 WMITE - CITV CLERK ' � '
PINK - FINANCE t�• COUIICII (//j /
C�4NARY - DEPARTMENT GITY OF AINT PAIIL 7� (/]
BLU.E - MAVOR File NO. `� v/�
� Council Resolution �
,
Presented � �
Referred To O�/S l lV lr �- � � Committee: Date �r°,'��a�
Out of Committee By Date
A RESOLUTION APPROVING THE ISSUANCE B THE MINNEAPOLIS/SAINT PAUL HOUSING
FINANCE BOARD OF ITS $4,400,000 ENERG LOAN REVENUE NOTE, SERIES 1988A, AND
GIVING APPROVAL TO THE CONTINUATION 0 THE ENERGY LOAN PROGRAM.
WHEREAS, pursuant to the laws o the State of Minnesota, particularly,
Laws of Minnesota 1975, Chapter 188, ws of Minnesota 1980, Chapter 595, Laws
of Minnesota 1981, Chapter 222, Minne ota Statutes, Section 462,411 et sea. as
amended, and Minnesota Statutes, Chap er 462C, as amended (the "Acts") , the
City of Saint Paul (the "City") is au horized to carry out the public purposes
described therein and contemplated th reby in the financing of energy
conservation related home improvement to housing units located within its
boundaries, by making or purchasing 1 ans (the "Energy Loans") ; and
WHEREAS, pursuant to the Acts nd Saint Paul Administrative Code,
Chapter 72, the City was authorized o establish programs to finance housing
and to provide mortgage loans to pro iders of housing to improve the housing
climate in the City by participating in the making of loans to finance energy
conservation and rehabilitation impr vements to buildings located within its
boundaries (the "Loan Program") ; and
WHEREAS, the Acts provide that the City may exercise any and all of the
same powers as are contained in the cts, including the powers of the
Minnesota Housing Finance Agency und r the provisions of Minnesota Statutes,
Chapter 462A, as amended (the "State Housing Act") ; and
WHEREAS, the Minneapolis/Saint Paul Housing Finance Board (the "Board")
has been created pursuant to Minneso a Statutes, Section 462C.12 and a Joint
Powers Agreement (the "Agreement") d ted as of December 1, 1984, as amended,
between the City of Minneapolis ("Mi neapolis") , the Housing and Redevelopment
Authority of the City of Saint Paul (the "HRA") , and the Minneapolis Community
Development Agency (the "MCDA") , an accepted by the City; and
CQUNCILMEN
Yeas Nays Requested by Department of:
In Favor
_ __ Against BY — —
Form Approved by City Attorney
Adopted by C ouncil: Date —
Certified Passed by Council Secretary BY �22�iG'�v�i �_�
sy
Approved by IVlayor: Date _ Approved by Mayor for Submission to Council
sy _ — BY
. . �����
-2-
WHEREAS, the Board is authorize to exercise the powers conferred on the
City, Minneapolis, the HRA and the MC A relating to housing or housing
finance, subject to the terms of the greement, including the issuance of its
revenue bonds to finance the making a d acquisition of Energy Loans and by
pledging the Energy Loans and any agr ements made in connection therewith as
security for the payment of the princ'pal of and interest on any such revenue
bonds; and
WHEREAS, pursuant to the Acts, e State Housing Act, and certain
agreements to be entered into by the B ard and the Minneapolis Community
Development Agency (the "MCDA") , the B ard proposes to undertake the Loan
Program, and for the financing thereof, to authorize, issue and sell its
Energy Loan Revenue Notes, Series 1988 , in an aggregate principal amount of
approximately $4,400,000, payable from the revenues of the Loan Program (the
"Note") and secured by certain revenue of the Loan Program; and
WHEREAS, neither the Board, the CDA nor the City nor the State of
Minnesota or any political subdivision thereof shall be liable on the Note,
and the Note shall not be a debt of th City, the State of Minnesota nor any
political subdivision thereof nor shal give rise to a charge against the
general credit or taxing power of the oard, the MCDA, the City, the State of
Minnesota or any political subdivision thereof, not shall be payable out of
any funds or properties other than tho e of the Board provided as security by
the Credit Agreement to be executed by the Board, the MCDA and the purchaser
of the Note; and
WHEREAS, the Board has entered i to a grant agreement with the Minnesota
Housing Finance Agency for the provisi n of certain Exxon oil overcharge funds
to the Board for use in the cities of inneapolis and Saint Paul; and
c WHITE — CITV CLERK �
PINK — FINANCE G I TY OF SA I NT PA LT L Council
CANARV — DEPARTMENT
BLUE — MAVOR File NO. —�/� �
Counci Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
-3-
NOW THEREFORE, BE IT RESOLVED b the City Council of the City of Saint
Paul, Minnesota, as follows:
1. The issuance by the Board of its approximately $4,400,000 Energy
Loan Revenue Note, Series 1988A is he eby approved.
2. The continuation of the E ergy Loan Program for Multifamily and
Single Family Residences is hereby ap roved.
3. The Mayor, City Clerk, of icers of the City, attorneys, engineers
and other agents or employees of the ity are hereby authorized to do all acts
and things required of them by or in onnection with this Resolution for the
full, punctual and complete performan e of all the terms, covenants and
agreements contained in the ,Board's a thorizing resolutions and in this
resolution.
4. This resolution shall be n full force and effect from and after
its passage.
COUNC[LMEN
Yeas D1IitOrid Nays Requested by Department of:
Goswitz _� [n Favor �-'i�
Long -
Rettman � __ Against BY
�1 - --
Sonnen
p W11SOri _�Y j 9�_ Form Approved by City Attorney
Ado ted b Council: Date
CertiEied Pass o ncil S a BY �v�^����
B}. ���
Appro y 1�layor: Dat —
� �Y ] �� Approve by Ma for ubmi ion to Council
\
B __ - gy �
rtlBUSNED rrAY � � �s88
��� � .`�/�S/� -- DEPARTMEI� � C��a �DJ� N° _ 062'7'7
�G ,L�S% CONTACT '
--� ,SO PHONE
� �-� /Pf� DATE � Q�� Q'Q .
SI6N NUhRi,ER FOR RpUTING 0 li All Loc ions for Si nature : � �q����
� Department Director .3 Director' of Management/Ma yor � '�'
,�,_ Finance and Managemen Services Director � � City Clerk rr` �
Budget Director � �'i��c.//�.--�s �K.7` ��.�/.
� City Attorney �
HAT WILL BE ACHIEVED 8Y TAKING ACTIbN ON THE : TTACHED MATERIALS? (Purpose/ .
�,tionale) : �
,�v/l <S� -�-�Z j�e G� `�� ' . � /`".�sG��7=�c� cr..� w� //
�/ � �, }�C. !— l._. ` � [�l/�/�C- � � S. ���4-� L[.c_ Q G/<�"C_
��ar �� � �'-�' �
� ,�s�s� �� � ,� � �y ���� �o�
�v . ���-��.-c_ '�
— �� � �P�.��� .� f.� � .S�,�s l�'�€�F , ,6 y �{
����
��if� �v/�s/�4-� �� � �� �� �Q�r� /�da.�-�, .
COST BENEFIT BUDGETARY AND PERSONNEL IMPACTS ! TICIPATED; '
��-r���Cs ��' � �V''�7`� zv-� v� � � ��� ` _��-�
..l a/ oQ.� s �a .2��,� o �' /�h�� / Gu/v�S-�/ , �.
�� /`� � � / �r : �
_ L�„ �� �.. "�l.<<5 , �/��/'� !<�12c- /� �U d ��d4r! S G�/-'l ..P�G �°i� .
7-ix / �� . /�
� � ,iyL Qr � D ll.Ptl '��! I !/`�e�—��lst!— /�/Yi��Qv`�C" ��' d OC �
� �
�/lo�..�s C�.F �� ��irs�SC�.�C�e-�.,�;/ r<�Z..cri ,�,, ��PH' GttcaKu �sf.���s�*�st.a�o�:za�rrr,�. .l��cus.vr//
FINANCING SOURCE AND BUDGET ACTIVITY NI�BER GED OR CREDITED: (Mayor's s�gna-G` °�' ""''���
��tc r ��se�i
� ; ture not re- � ,�., �„�;,�
Total Amount of"Transaction: � �/ ��d, � G quired if undero� s,:.�;��.,-s�-,�=h�s�
�/ ��o,000) �C�.J /KRKG�
Fundin Source: �lb /cS7���✓� /�U✓�' I �:�ra.��2 �r�����
9 /`7 .: /
/3�a �-oL ��f�.;
Activity Number: �/� . !
ATTACHMENTS (List and Number Al1 AttacF�nents) :i
� � � �` ,� C.. � '��P. SU /!/f �-vL_. . .
RECEIV�:�
APR 18 1988
� . : CITY pT`�G��L��. �
. �
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
�es No Council Resolution Required? ' ' Resolution Required? Yes No
Yes �lo Insurance Required? ! Insurance Sufficient? Yes No
Yes � Insurance Attached: '
(SEE •REVERSE SIDE FO�; NSTRUCTIONS) . �
Revised 12/84
Members: �� (��ki
�✓ �,, Y ,. Bili Wi(son, cha�r .
; ;y,-�, ��;°'_ (�ITY OF AINT PAUL Tom Dimand
� •;: � ,I"=�= � Kiki Sonnen
OFP'ICE OF T E CITY COUNCIL
Date: May 11, 1988 �
WILLfAM L. WIL:SOIV� �� Or R�CL�VED MARK VOERDING
Counc'slmdn � Comm ttee Rep t u�,91at,re �,ae
. MAY 121988
To: Saint Paul City Council ciTY c�ERK
From : Housing and Econo ic Development Committee
Bill Wiison, Chair
1. Resolution supporting the developmen of a Jobs Impact Statement in cases of
direct City participation in develop ent activities and requesting the
Administration to review and comment on the draft "Economic Development
and Displaced Workers Policy Stateme t."
COi�fITTEE RECOIN�'i1ENDED APPROVAL
2. Resolution requesting Administration to conduct a study for a portion of
Districts 4 and 5 that identifies ne r-term development activities planned
for that study area, that the study e conducted under the auspices of the
Planning Commission working through task force to include representatives
of the areas being studied, and that the Planning Commission review the
st:idy and recommend to the Council a neighborhood improvement strategy.
COi`�L`4ITTEE RECOMMENDED APPROVAL
3. Report on St. Paul Rental Er_•ergy Eff ciency Enforcement program. (SPREEE)
COi`�,.`fITTEE RECOMMENDED TWO WEEK LAYOV R
4. Ordinance amending C.F. 84-1143 adop ed October 23, 1984, by enlarging
the boundaries of the Do�,mtown Devel pment District.
CO�L"IITTEE RECOMMENDED APPROVAL
S. Re lution ,�,ppro�.g:�.��e issuaaee by th�;= Minneapo3isf8�� P�ul Hou��.ng
�u
#�,�ce 8�''of �s $4;400,0�°Ener y Loan Retr�nu,e Note Series �98$A
a����bval.:.to the continuat on �f the E�e=gy Loan Program.
AL
6. u ion endorsing University Aven e as the City's preferred alignment
for the Light Rail Transit between S . Paul and Minneapolis, requesting
the Ramsey County Regional Rail Auth rity to establish the same endorse-
ment and to proceed preliminary engi eering to resolve issues, and offering
to the Regional Rail Authority suppo t, participation and appropriate
resources to complete the developmen of the LRT.
C0�'II�'IITTEE REC0�1'�ifENDED INDEFINITE LAY VER FOR PUBLIC WORtCS CONMITTEE TO
CONDL'CT HEARINGS AND REFER BACK TO T IS COMMITTEE
CITY Ht1LL . SEVENTH FLOOR SAINT PAUL, MINNESOTA 55102 612/295-4646
3 48
. _. ...,, �......�.�..-...... ..: .. . .....-,..<.,..�..w....-....:_.,,.. M....:. ,.�...._.. . .._.._. ..... _..��. .. . ., _ . ... . . ' _
..��. . �.:-..:... .... ......,., . .,,.�. .
,. .... ...7...�..-... ... .:.....n ....�..v.+.a> >�.a..w.t>. ,..,�.�.a^r�..�wq�ra..c...n