00-1163�RIGI�IAL
Council File # �O � ��i��
Resolution #
Green Sheet # t!' 6 9�sg
Presented By _
/� 1 Referred To � �
CITY OF
RESOLUTION
41NT PAUL, MINNESOTA
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RESOLUTION AUTHORIZING CARRYFORWARD OF
iTNLTSED PRNATE ACTNITY BOND VOLUME CAP
WHEREAS, the City of Saint Paul, Minnesota (the "City'� is an "entitlement issuer" within the meaning
of Minnesota Stahxtes, Section 474A.02, subd. 7; and
WHEREAS, the City's entitlement allocation for 2000 under Minnesota Statutes, Chapter 474A.03, subd.
2a(3) is $16,131,000; and
WFiEREAS, as of the date hereof, the City has used $3,000,000 of its 2000 entitlement allocation and has
$13,131,000 remaining; and
WHEREAS, the City may, under § 146( fl of the Internal Revenue Code of 1986, as amended, and under
Minnesota Statutes, Chapter 474A, "carryforward" all or a portion of the City's unused entitlement allocation for
the year 2000; and
WHEREAS, it is in the best interest of the public health, safety and welfare that the City "carryforward"
for qualified mortgage bonds and/or mortgage credit certificates its remaining entitlement allocation;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota, as
follows:
1. The City hereby elects to carryforward $13,131,000 of its 2000 entitlement allocation for the
purpose of qualified mortgage bonds and/or mortgage credit certificates.
2. The City's Director of Planning and Economic Development is hereby authorized and directed to
file with the Intemal Revenue Service a Form 8328 specifying the amount of entitlement allocafion carried
forward by the City from the year 2000, and further specifying that such amount be carried forward for the
purposes of qualified mortgage bonds and/or mortgage credit certificates. The Form 8328 shall be filed with the
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Internal Revenue Service on or before February 15, 2001. The City directs the Director to norify the Minuesota
Department of Finance of its intent to carryforwazd the remainder of its entitlement ailocation pursuant to
Minnesota Statutes, Chapter 474A, and authorizes and directs the Director to provide such notice in a timely
fashion for future allocations, as appropriate.
3. The amount carried forward may be utilized by the Housing and Redevelopment Authority of the
City of Saint Paul, Minnesota (the "Authorit}�') pursuant to a single family housing finance progxam approved
by the City pursuantto Minnesota Statutes, Chapter 462C. The Authority may, at its option, delegate its authority
to issue bonds or mortgage credit certificates pursuant to the carryforward election to the Minneapolis/Saint Paul
Housing Finance Board. The proceeds of bonds or mortgage eredit certificates issued by the MinneapolislSaint
Paul Housing Finance Boardmaybe appliedwithoutregazdto juzisdictionalboundaries as providedinMiunesota
Statutes, Section 462C.12, subd. 3.
► ' ;�
Requested by Department o£:
Plannina & Economic Develooment
i
i
By:
Form Approve
Adoption Certif' d by Council Secretary g
By:
n �^�,� Approved by
Approved by Mayor: Date Gf/ G6�e(/
By:
By:
d by ' y Attorney
.
Mayo for Submissi to Council
� I !/et
Adopted by Council: Date 1..�¢ ��J ,�ap�p
DEPARTMENT/OFFICE/COUNCIL: DATE INIl'IATED GREEN SHEET 1vo.• 106988 �° v"`
P�UfWest Team 12/01100 '
CONTACT PERSON & PHONE: � ��vl'nnL/DAiE iN[i[ALmnTe
Joan Trulsen, 6-6694 1 DEPAR'f'MENT DIR.� a c�rvcocmc�L
MUST BE ON COWi CIL AGENDA BY (DATE) �IGN
NIIIDIBER 2 CITYATCORNEY HUMANRiGHTS
Consent Agenda on 12-13-00 Fox
ROU'I'ING ,FNANCIAL SERV DIR. _FINANCIAL SERV/ACCTG
= �,�� ORDER
� --�� ��r 3 MAYOR(ORASST.) _
TOTAL.Y OF SIGNATORE PAGES One ( U (CLIP ALL LOCATIONS FOR SIGNATURE)
ACCIOV REQUESTED:
Approval to "carryforward" the City's unused 2000 entitlement allocation (bonding authority) for the
purpose of year 2001 issuance of qualified mortgage bonds and mortgage credit certificates.
RECOMMENDATIONS. Approve (A) or Reject (R) PERSOYAL SERVICE COiVTRA(7CS NIUST ANSWER THE FOLLO�VING
QOESTIOYS:
PLANNMG COMM[SSION i. Has this person/firm ever worked under a wntract for this department�
CIB WMMITTEE Yes No
CIV [L SEAVICE COMMISSION 2. H� this pe�onlfi{m ever been a ciry employee?
Yes No
3. Does tliis person/firm possess a skill not normally possessed by any current city employee?
Yes No
Ezplain all yes answers on s¢parate sheet and attach to green sheet
I\ITIATI\G PROBLEM, ISSOE, OPPORTUNITY (Whq FYhat, WheM Where,Nhy).
At the en: - ��ach year, the State of Minnesota and the IRS require that the City "carryfonvard" any portion
of the Cit;':: unused bonding entitlement allocation which can then be used in the following year. This
year's deadline is December 25, 2000.
ADVANl'AGES IF APPROYED;
Mortgage Revenue Bonds and Mortgage Credit Certificates can be issued during 2001 for the benefit of low
or moderate income City of Saint Paul home buyers.
DISADVANi'AGES IF APPROVED
None.
DISADVA!�TAGES IF NOT APPROVED:
$13,131,0�0 of bonding authority will be lost.
TOTAL A�IOLJNT OF'1'R9��'SACTIOV: S O COST/REVENUE BUDGETED (CII2CLE ONE): YES NO
FUNDING SOURCE: NA ACTIVI"CY NUMBER:
FINANCL�L LYFORbWTION: (EXPLAIiV) �. ���oG(�'�51, v.n
�'�% x- �
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Page 1 of l� � ��
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Nancy Anderson - Bond Carryforward Action
From: 7enny Wolfe
To: Council
Date: 12/12/2000 838 AM
Subject: Bond Carryforward Action
CC: Trulsen, Joan
FYI: At the December 13 City Council meeting there is an item on the consent agenda approving
"carryforwazd" ofthe City's unused 2000 bonding entitlement allocation (Resolution #OQ-1163). The
carry forwazd will allow fiu�ther issuance of qualified mortgage bonds and mortgage credit certificates
for the year 2001.
At the end of each year, the State of Minnesota and the JRS require that the City "canyfoward" any
portion of the City's unused bonding entitiement allocation which can then be used in the following
yeaz. This year's deadline is December 25, 2000.
Please contact me (6-6555) or Joan Trulsen (6-6694) with any questions.
Jenny Wolfe
PED
file://C:\WINDOWS\TENIP\GW}00OO1.HTM 12/13/2000
�RIGI�IAL
Council File # �O � ��i��
Resolution #
Green Sheet # t!' 6 9�sg
Presented By _
/� 1 Referred To � �
CITY OF
RESOLUTION
41NT PAUL, MINNESOTA
3�
� A —
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RESOLUTION AUTHORIZING CARRYFORWARD OF
iTNLTSED PRNATE ACTNITY BOND VOLUME CAP
WHEREAS, the City of Saint Paul, Minnesota (the "City'� is an "entitlement issuer" within the meaning
of Minnesota Stahxtes, Section 474A.02, subd. 7; and
WHEREAS, the City's entitlement allocation for 2000 under Minnesota Statutes, Chapter 474A.03, subd.
2a(3) is $16,131,000; and
WFiEREAS, as of the date hereof, the City has used $3,000,000 of its 2000 entitlement allocation and has
$13,131,000 remaining; and
WHEREAS, the City may, under § 146( fl of the Internal Revenue Code of 1986, as amended, and under
Minnesota Statutes, Chapter 474A, "carryforward" all or a portion of the City's unused entitlement allocation for
the year 2000; and
WHEREAS, it is in the best interest of the public health, safety and welfare that the City "carryforward"
for qualified mortgage bonds and/or mortgage credit certificates its remaining entitlement allocation;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota, as
follows:
1. The City hereby elects to carryforward $13,131,000 of its 2000 entitlement allocation for the
purpose of qualified mortgage bonds and/or mortgage credit certificates.
2. The City's Director of Planning and Economic Development is hereby authorized and directed to
file with the Intemal Revenue Service a Form 8328 specifying the amount of entitlement allocafion carried
forward by the City from the year 2000, and further specifying that such amount be carried forward for the
purposes of qualified mortgage bonds and/or mortgage credit certificates. The Form 8328 shall be filed with the
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Internal Revenue Service on or before February 15, 2001. The City directs the Director to norify the Minuesota
Department of Finance of its intent to carryforwazd the remainder of its entitlement ailocation pursuant to
Minnesota Statutes, Chapter 474A, and authorizes and directs the Director to provide such notice in a timely
fashion for future allocations, as appropriate.
3. The amount carried forward may be utilized by the Housing and Redevelopment Authority of the
City of Saint Paul, Minnesota (the "Authorit}�') pursuant to a single family housing finance progxam approved
by the City pursuantto Minnesota Statutes, Chapter 462C. The Authority may, at its option, delegate its authority
to issue bonds or mortgage credit certificates pursuant to the carryforward election to the Minneapolis/Saint Paul
Housing Finance Board. The proceeds of bonds or mortgage eredit certificates issued by the MinneapolislSaint
Paul Housing Finance Boardmaybe appliedwithoutregazdto juzisdictionalboundaries as providedinMiunesota
Statutes, Section 462C.12, subd. 3.
► ' ;�
Requested by Department o£:
Plannina & Economic Develooment
i
i
By:
Form Approve
Adoption Certif' d by Council Secretary g
By:
n �^�,� Approved by
Approved by Mayor: Date Gf/ G6�e(/
By:
By:
d by ' y Attorney
.
Mayo for Submissi to Council
� I !/et
Adopted by Council: Date 1..�¢ ��J ,�ap�p
DEPARTMENT/OFFICE/COUNCIL: DATE INIl'IATED GREEN SHEET 1vo.• 106988 �° v"`
P�UfWest Team 12/01100 '
CONTACT PERSON & PHONE: � ��vl'nnL/DAiE iN[i[ALmnTe
Joan Trulsen, 6-6694 1 DEPAR'f'MENT DIR.� a c�rvcocmc�L
MUST BE ON COWi CIL AGENDA BY (DATE) �IGN
NIIIDIBER 2 CITYATCORNEY HUMANRiGHTS
Consent Agenda on 12-13-00 Fox
ROU'I'ING ,FNANCIAL SERV DIR. _FINANCIAL SERV/ACCTG
= �,�� ORDER
� --�� ��r 3 MAYOR(ORASST.) _
TOTAL.Y OF SIGNATORE PAGES One ( U (CLIP ALL LOCATIONS FOR SIGNATURE)
ACCIOV REQUESTED:
Approval to "carryforward" the City's unused 2000 entitlement allocation (bonding authority) for the
purpose of year 2001 issuance of qualified mortgage bonds and mortgage credit certificates.
RECOMMENDATIONS. Approve (A) or Reject (R) PERSOYAL SERVICE COiVTRA(7CS NIUST ANSWER THE FOLLO�VING
QOESTIOYS:
PLANNMG COMM[SSION i. Has this person/firm ever worked under a wntract for this department�
CIB WMMITTEE Yes No
CIV [L SEAVICE COMMISSION 2. H� this pe�onlfi{m ever been a ciry employee?
Yes No
3. Does tliis person/firm possess a skill not normally possessed by any current city employee?
Yes No
Ezplain all yes answers on s¢parate sheet and attach to green sheet
I\ITIATI\G PROBLEM, ISSOE, OPPORTUNITY (Whq FYhat, WheM Where,Nhy).
At the en: - ��ach year, the State of Minnesota and the IRS require that the City "carryfonvard" any portion
of the Cit;':: unused bonding entitlement allocation which can then be used in the following year. This
year's deadline is December 25, 2000.
ADVANl'AGES IF APPROYED;
Mortgage Revenue Bonds and Mortgage Credit Certificates can be issued during 2001 for the benefit of low
or moderate income City of Saint Paul home buyers.
DISADVANi'AGES IF APPROVED
None.
DISADVA!�TAGES IF NOT APPROVED:
$13,131,0�0 of bonding authority will be lost.
TOTAL A�IOLJNT OF'1'R9��'SACTIOV: S O COST/REVENUE BUDGETED (CII2CLE ONE): YES NO
FUNDING SOURCE: NA ACTIVI"CY NUMBER:
FINANCL�L LYFORbWTION: (EXPLAIiV) �. ���oG(�'�51, v.n
�'�% x- �
� � � � � 2000
Page 1 of l� � ��
�
Nancy Anderson - Bond Carryforward Action
From: 7enny Wolfe
To: Council
Date: 12/12/2000 838 AM
Subject: Bond Carryforward Action
CC: Trulsen, Joan
FYI: At the December 13 City Council meeting there is an item on the consent agenda approving
"carryforwazd" ofthe City's unused 2000 bonding entitlement allocation (Resolution #OQ-1163). The
carry forwazd will allow fiu�ther issuance of qualified mortgage bonds and mortgage credit certificates
for the year 2001.
At the end of each year, the State of Minnesota and the JRS require that the City "canyfoward" any
portion of the City's unused bonding entitiement allocation which can then be used in the following
yeaz. This year's deadline is December 25, 2000.
Please contact me (6-6555) or Joan Trulsen (6-6694) with any questions.
Jenny Wolfe
PED
file://C:\WINDOWS\TENIP\GW}00OO1.HTM 12/13/2000
�RIGI�IAL
Council File # �O � ��i��
Resolution #
Green Sheet # t!' 6 9�sg
Presented By _
/� 1 Referred To � �
CITY OF
RESOLUTION
41NT PAUL, MINNESOTA
3�
� A —
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
RESOLUTION AUTHORIZING CARRYFORWARD OF
iTNLTSED PRNATE ACTNITY BOND VOLUME CAP
WHEREAS, the City of Saint Paul, Minnesota (the "City'� is an "entitlement issuer" within the meaning
of Minnesota Stahxtes, Section 474A.02, subd. 7; and
WHEREAS, the City's entitlement allocation for 2000 under Minnesota Statutes, Chapter 474A.03, subd.
2a(3) is $16,131,000; and
WFiEREAS, as of the date hereof, the City has used $3,000,000 of its 2000 entitlement allocation and has
$13,131,000 remaining; and
WHEREAS, the City may, under § 146( fl of the Internal Revenue Code of 1986, as amended, and under
Minnesota Statutes, Chapter 474A, "carryforward" all or a portion of the City's unused entitlement allocation for
the year 2000; and
WHEREAS, it is in the best interest of the public health, safety and welfare that the City "carryforward"
for qualified mortgage bonds and/or mortgage credit certificates its remaining entitlement allocation;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota, as
follows:
1. The City hereby elects to carryforward $13,131,000 of its 2000 entitlement allocation for the
purpose of qualified mortgage bonds and/or mortgage credit certificates.
2. The City's Director of Planning and Economic Development is hereby authorized and directed to
file with the Intemal Revenue Service a Form 8328 specifying the amount of entitlement allocafion carried
forward by the City from the year 2000, and further specifying that such amount be carried forward for the
purposes of qualified mortgage bonds and/or mortgage credit certificates. The Form 8328 shall be filed with the
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36
37
38
39
40
41
42
43
44
45
Od _��v3
Internal Revenue Service on or before February 15, 2001. The City directs the Director to norify the Minuesota
Department of Finance of its intent to carryforwazd the remainder of its entitlement ailocation pursuant to
Minnesota Statutes, Chapter 474A, and authorizes and directs the Director to provide such notice in a timely
fashion for future allocations, as appropriate.
3. The amount carried forward may be utilized by the Housing and Redevelopment Authority of the
City of Saint Paul, Minnesota (the "Authorit}�') pursuant to a single family housing finance progxam approved
by the City pursuantto Minnesota Statutes, Chapter 462C. The Authority may, at its option, delegate its authority
to issue bonds or mortgage credit certificates pursuant to the carryforward election to the Minneapolis/Saint Paul
Housing Finance Board. The proceeds of bonds or mortgage eredit certificates issued by the MinneapolislSaint
Paul Housing Finance Boardmaybe appliedwithoutregazdto juzisdictionalboundaries as providedinMiunesota
Statutes, Section 462C.12, subd. 3.
► ' ;�
Requested by Department o£:
Plannina & Economic Develooment
i
i
By:
Form Approve
Adoption Certif' d by Council Secretary g
By:
n �^�,� Approved by
Approved by Mayor: Date Gf/ G6�e(/
By:
By:
d by ' y Attorney
.
Mayo for Submissi to Council
� I !/et
Adopted by Council: Date 1..�¢ ��J ,�ap�p
DEPARTMENT/OFFICE/COUNCIL: DATE INIl'IATED GREEN SHEET 1vo.• 106988 �° v"`
P�UfWest Team 12/01100 '
CONTACT PERSON & PHONE: � ��vl'nnL/DAiE iN[i[ALmnTe
Joan Trulsen, 6-6694 1 DEPAR'f'MENT DIR.� a c�rvcocmc�L
MUST BE ON COWi CIL AGENDA BY (DATE) �IGN
NIIIDIBER 2 CITYATCORNEY HUMANRiGHTS
Consent Agenda on 12-13-00 Fox
ROU'I'ING ,FNANCIAL SERV DIR. _FINANCIAL SERV/ACCTG
= �,�� ORDER
� --�� ��r 3 MAYOR(ORASST.) _
TOTAL.Y OF SIGNATORE PAGES One ( U (CLIP ALL LOCATIONS FOR SIGNATURE)
ACCIOV REQUESTED:
Approval to "carryforward" the City's unused 2000 entitlement allocation (bonding authority) for the
purpose of year 2001 issuance of qualified mortgage bonds and mortgage credit certificates.
RECOMMENDATIONS. Approve (A) or Reject (R) PERSOYAL SERVICE COiVTRA(7CS NIUST ANSWER THE FOLLO�VING
QOESTIOYS:
PLANNMG COMM[SSION i. Has this person/firm ever worked under a wntract for this department�
CIB WMMITTEE Yes No
CIV [L SEAVICE COMMISSION 2. H� this pe�onlfi{m ever been a ciry employee?
Yes No
3. Does tliis person/firm possess a skill not normally possessed by any current city employee?
Yes No
Ezplain all yes answers on s¢parate sheet and attach to green sheet
I\ITIATI\G PROBLEM, ISSOE, OPPORTUNITY (Whq FYhat, WheM Where,Nhy).
At the en: - ��ach year, the State of Minnesota and the IRS require that the City "carryfonvard" any portion
of the Cit;':: unused bonding entitlement allocation which can then be used in the following year. This
year's deadline is December 25, 2000.
ADVANl'AGES IF APPROYED;
Mortgage Revenue Bonds and Mortgage Credit Certificates can be issued during 2001 for the benefit of low
or moderate income City of Saint Paul home buyers.
DISADVANi'AGES IF APPROVED
None.
DISADVA!�TAGES IF NOT APPROVED:
$13,131,0�0 of bonding authority will be lost.
TOTAL A�IOLJNT OF'1'R9��'SACTIOV: S O COST/REVENUE BUDGETED (CII2CLE ONE): YES NO
FUNDING SOURCE: NA ACTIVI"CY NUMBER:
FINANCL�L LYFORbWTION: (EXPLAIiV) �. ���oG(�'�51, v.n
�'�% x- �
� � � � � 2000
Page 1 of l� � ��
�
Nancy Anderson - Bond Carryforward Action
From: 7enny Wolfe
To: Council
Date: 12/12/2000 838 AM
Subject: Bond Carryforward Action
CC: Trulsen, Joan
FYI: At the December 13 City Council meeting there is an item on the consent agenda approving
"carryforwazd" ofthe City's unused 2000 bonding entitlement allocation (Resolution #OQ-1163). The
carry forwazd will allow fiu�ther issuance of qualified mortgage bonds and mortgage credit certificates
for the year 2001.
At the end of each year, the State of Minnesota and the JRS require that the City "canyfoward" any
portion of the City's unused bonding entitiement allocation which can then be used in the following
yeaz. This year's deadline is December 25, 2000.
Please contact me (6-6555) or Joan Trulsen (6-6694) with any questions.
Jenny Wolfe
PED
file://C:\WINDOWS\TENIP\GW}00OO1.HTM 12/13/2000