84-1395 WHITE - CITV CLERK
PINK - FINANCE COUnCII
CANARV - DEPARTMENT GITY OF SAINT PALTL File NO. ��� /�"�
BLUE - MAVOR
1
� �ouncil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED , That the Council of the City of Saint Paul hereby
approves the following appointments made by the Mayor to the
Mayor ' s Ad Hoc Task Force on Municipal Food Policy :
James Scheibel , Chair
John Drew
Richard Goebel
Diane Ahrens
Richard Dana
Katherine Cairns
Caye Nelson
Willis Eken
Sidney Applebaum
Ron Farris
Cheryl Fowler
Sharon Vangness
Luke Anderson
Gary Miller
Roger Sitkin
Kenneth Taylor
Krista Nelson
Roy Mormon
/�(i /t��i'�e!''
1i�11, ,��li�l
/fa�/I� �1t117Q�C y
COUNCILMEN Requested by Department of:
Yeas Nays
.iiataNer�7/,V�,J �
Drew [n Favor
Masanz
NiCOSia
scheibe� � _ Against BY
�.�sse.
Wilson
Adopted by Council: Date
OCT 1 1 1gg4 Form pprov d City Attorney
Certified Yas y ouncil Se tar BY
Bl'
A►ppioved b 1VIav : a �"�4��"�T � � 19v� Appro e by Mayor for Subm' sio to Council
By - �' B
, PUBLISHED OCT 2 0 1984
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CITY OF SAINT PAUL
INTERDEPARTMENTAL MEMORANDUM
T0: A1 Olson
_._7
FROM: Pat Con1��J�
DATE: October 12, 1984
RE: COUNCIL RESOLUTION N0. 84-1395, DATED OCTOBER 11, 1984
This memorandum is written to notify you that Luke Anderson
has declined appointment to the Mayor's Ad Hoc Task Force on
Food Policy.
PC:drm
cc: Mayor Latimer
Councilman James Scheibel
Lee Turchin
<„�.,:: , r,;
WMITE - CIIV CLERK
PI�1K� - FINANCE GITY OF SAINT PAUL Council
CANARV �DEPARTMENT /(��
BLUE - MAVOR File NO• •� I/���
1
� � Council Resolution
�
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLUTION RECITING A PROPOSAL FOR A
JOINT FINANCING PROGRAM TO FINANCE THE ACQUISITION
OF SINGLE FAMILY HOUSING, GIVING
APPROVAL TO "fHE PROGRAM PURSUANT TO
MINNESOTA STATUTES, CHAPTER 462C,
AUTHORIZING THE HOUSING AND
REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL
TO ISSUE HOUSING REVENUE BONDS �OINTLY WITH
THE MINNEAPOLIS COMMUNITY DEVELOPMENT AGENCY
AND AU'fHORIZING
THE SUBMISSION OF THE FINANCING PROGRAM FOR APPROVAL
TO 'fHE MINNESOTA HOUSING FINANCE AGENCY AND
AU'THORIZING THE PREPARATION OF NECESSARY
DOCUMENTS AND MATERIALS IN CONNECTION
WITH THE PROGRAM
WHEREAS,
(A) Minnesota Statutes, Chapter 462C (the "Act") confers upon cities, or
housing and redevelopment authorities or port authorities authorized by ordinance
to exercise on behalf of a city the powers conferred by the Act, the power to issue
revenue bonds to finance a program for the purposes of planning, administering,
making or purchasing loans to finance the acquisition or rehabilitation, primarily by
low and moderate income persons and families, of single family housing within the
boundaries of the city;
(B) The Housing and Redevelopment Authority of Saint Paul, Minnesota
(the "HRA") has been designated, by ordinance, to exercise on behalf of the City of
Saint Paul, Minnesota (the "City") the powers conferred by the Act;
(C) The City of Minneapolis, Minnesota similarly has designated the
Minneapolis Community Development Agency, by ordinance, to exercise, on behalf
of Minneapolis, the powers conferred by the Act;
COUNCILMEN Requested by tment of:
Yeas Nays �
Fletcher
Drew In Favor
Masanz
Nicosia
schetbe� __ Against BY
7edesco
Wilson
Form Appr ved by City Attorney
Adopted by Council: Date
Certified Passed by Council Secretary BY ��-�'� `�'' �
By
6lpproved by lNavor: Date _ 1 Ap by Mayor for m'ssion to Council
By — BY
�
' , . . - . . . G�r' �y-i..�q�
.
(D) It is now proposed that the HRA and the MCDA, acting jointly, should
undertake a joint program (the "Program") to make or purchase mortgage loans, or
to purchase securities the proceeds of which would be used to purchase mortgage
loans, to finance the acquisition, primarily by low and moderate income persons
and families, of single family housing located within the geographic boundaries of
the two Cities through the issuance of revenue bonds or obligations (the "Bonds")
pursuant to the Act;
(E) A public hearing on the Program was held by the City Council on
October 16, 1984, after notice was published, all as required by Minnesota Statutes,
Section 462C.04, Subd. 2, at which public hearing all those appearing who desired
to speak were heard.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Saint Paul, Minnesota, as follows:
1. The City hereby approves the proposal that the HRA undertake the
Program described above pursuant to Minnesota Statutes, Chapter 462C, consisting
of the issuance of one or more series of mortgage revenue bonds in an a,ggregate
amount not exceeding $45,500,000, and the use of the proceeds thereof to acquire
mortgage loans, or to acquire securities the proceeds of which will be used to
acquire mortgage loans, to finance the acquisition, primarily by persons and
families of low and moderate income, of single family housing within the
geographic boundaries of the City and Minneapolis, all as more fully described in
the "Minneapolis-St. Paul 1984 Single Family Housing Program" on file with the
HRA.
2. The Bonds will be structured to utilize credit enhancement provided
by the Federal National Mortgage Association, or if such credit enhancement is not
feasible, then at the option of the HRA and MCDA, the financing may be
structured so as to take advantage of whatever means are available and are
permitted by law to enhance the security for, or marketability of, the Bonds;
provided that any such financing structure must be approved by the HRA and
MCDA.
3. The Program and the issuance of revenue bonds to finance the
Program, are hereby approved by the City subject to the approval of the Program
by the Minnesota Housing Financing Agency ("MHFA") and subject to final approval
by the HRA, the MCDA, the purchasers of the Bonds and others as to ultimate
details of the Program and the financing therefor.
4. Pursuant to Chapter 72, Saint Paul, Minnesota, Administrative Code,
the City hereby authorizes and directs the HRA to issue the housing revenue bonds
or obligations to finance the Program and to take all actions necessary or desirable
in connection therewith, and no further approval or authorization of the City shall
be required; and the City further authorizes and directs the HRA to enter into a
joint powers agreement with the MCDA providing for the joint exercise of powers
under the Act by said agencies and for the joint issuance of the Bonds and
implementation of the Program to be financed thereby; and provided further that
the Bonds may be issued, and the Program implemented, by a joint housing finance
agency or board formed by the HRA and MCDA if such agencies so determine.
5. The submission of the Program to the MHFA for its approval in
accordance with subdivision 2 of Section 462C.04, Minnesota Statutes is hereby
ratified and confirmed, and the submission to MHFA of other preliminary
information required by it is hereby ratified and confirmed.
2