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276906 WMITE - CITY CLERK - PtNK - FINANCE �Cn�c CANARY - DEPARTMENT G I T Y O F SA I N T PA U L COUi1C1I 'vvv ,�U, V BLUE - MAYOR File N . City Attny/SDM • • Council Reso tion . + Presented By Referred To Committee: Date Out of Committee By Date RESOLUTION APPROVING CHAPTER 222 LALVS 1981 AND AUTHORIZING COMPLIANCE jvI^1H MINN. 5TAT. SECTION 645 .021 RESOLVED, By the Council of the City of Saint Paul, that Chapter 222, Laws of Minnesota 1981, approved the 18th day of May, 1981, entitled: "An act relating to the cities of Minneapolis and St. Paul; authorizing the implementation of energy conservation programs; authorizing the financing of residential energy conser- vation programs; authorizing the issuance of qualified mortgage bonds; requiring a report to the legislature. " a copy of which is filed herewith, shall be and said Act hereby is in all things approved; RESOLVED FURTHER, That the City Clerk as the chief clerical officer of said City of Saint Paul, shall forthwith file with the Secretary of State a certificate in form pre- scribed by the Attorney General stating the essential facts necessary to said approval of the Act hereunder and including a copy of this resolution of approval of said Act. COUIVCILMEN Requestgd by Department of: Yeas Nays Hunt Levine In Favor — Maddox �j M`�t;� _ __ Against BY �..a..� Wilson MAY 2 6 �g$� Form Approved c;c Adopted by Council: Date _ �T � � �� Certified Yassec��b Council Secret ry BY gy, �� 71G,/ App hy ,na�o�: MAY 2 9 1 � Approve yor for Submission to Council By BY PU81lSNED JUN 61981 � -� �� . ' CERTIFICAT'E OF APPROVAL OF SPECIAL LAW BY GOVERNIIVG BODY � r�'r � ' �� (Pursuant to Minnesota Statutes, 645.02 and 645.021) > ,� .`-, . _v.. .p�.. . �lyY . ' . ±Y�' ��^Pb:., .. c�'��... ST'A'I"E OF MINNESOTA •' �� _ � . � � -,. County of RamseY ,: r a� E� ` ,� . - .;, , TO THE SECRETARY OF STATE OF MINNESOTA: ? � � < �. PLEASE TAKE NOTICE, That the undersigned chief clerical officer of the '� �. ,,� City of St. Paul � �:=> „�; �r� : � , t �, .�, (name of govemmenta!un►t) "�"� :�,�A� . �`- �.�+�.I�".�i'�`�" ',�` X�� a ��-�.: a � . � ... � , �. .,E:. .. :.:��, s ;�t B _� ERTIF,Y. :�that in com liance°'with` the�ovisions-of_r ws;��:19 81 ' '�tl"Chapter DOES HERE Y C , p .��- -� , ��.a"�ss �°Y ��^� .s'� ,_,:r va ..d� 1;;.�,..,. '':;s � - "�� -.";, �.-t� �i,�r.�+"� ``�, �. .i .> "� .*� .�: ��,€ K.'��^h�,., .. . �; . . .: s �.d.. . ` .. - :' � . .. � .. r . .. :.: . �.`?'�� . 222 requiring approval by a " majority vote of the governing body of said local governmental ,.:,.;:. :::: �„'.-� _ , � - , ��,� unit before it becomes effective, the � � City Couneil �`Y - ` "�"� F (designate governing body) ;� : ° � . � �, , at a meeting duly held on the 26t1i day of . � Ma,Y • � ; 1�9 � , by resolution C.F. 276906 � did approve said Laws, 19 81 , Chapter 222 (If other than resolution,specifyj by a ma'orit vote of all of the members thereof �� (Ayes 6 ; Noes � ; Absent or not voting 1 ) and the following�additional steps, if any, required by statute or charter were taken: , st �; � _ ` R�� ' :� �. .: ,..:, Resolution to be �published �in officisl newspaper. -.�<�-�- �` µ _ , ,. . _ . .,- Y.: � � A copy of the resolution is hereto annexed and�made a part of this certificate by reference�` , . . , . , � �' ��.'"" ��-- - Signed: `�• SEAL � �, City Clerk � . (Official designation of officer) �' �;. r:�: } (This form prescribed by the Attorney General and furnished by the Secretary of State as required in Minnesota Statutes 645.021) �w�;_ - "Ij eztraordinary majority is requi�ed by the specia! law, insert fraction o� percentage here. � STAf�0� MINw�sor� ' DE�AR�I'MENT OF STATE FILED +�l�N- � 19�t Q.AG�.,�,d�� dt�ap►,s�s� �:_ . . ---'.- . � . � . a�'� ��b ' S .F. No. 763 � CHAPTER No. � �� ' ��—r�--� ' 1 � � + - Y�, ni f'�i� • _ Th�; is t`t� ;i^1;�::..iia(1 �` .'' h�i; ('i3i':'i�ii L'8 ' • t,��.T��?.� to t�� :rrernor'� �� d::`.. .. ..'; N��s 1,�'ey D2�2�?If�.°.M 5;:� ��:i:::: s:c:uS (�;c-af�'s8) �/ I � 2 relating to the cities of Minneapolis and St. Paul; 3 authorizing the implementation of energy conservation 4 programs; authorizing the financing of residential = 5 energy conservation prograins; authorizing the issuance • 6 of qualified mortgage bonds; requiring a report to the � 7 legislature. 8 � " � 9 BE IT EI�IACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: . ' t 10 Section 1. [MINNEAPOLZS A21D ST. PAUL; RESIDLNTIAL ENERGY ; . 11 CONSERVATIOI�I PROGRAM; PURPOSE. J � 12 � The legislature finds and declares that the state faces - 13 potential serious shortages in energy resources and that -------------------------------------------------------- 14 implementing energy conservation measures requires expanded � ----------------------------------------------------------- �15 authority and technical capability in order to minimize the use --------------------------------------------------------------- 16 of �traditional energy sources in the housing sector; that --------------------------------------------------------- 17 accomp].ishing� energy conservation is a public purpose; that it -------------------------------------------------------------= 18 is in the pubZic interest to authorize the city of Minneapolis -------------------------------------------------------------- 19 and the city of St. Paul to provide existing sinqle family, ----------------------------------------------------------- 20 existing multifamily and existinq rental housing loans fo� �__ 21 energy improvements. ; 22 Sec. 2. [RESIDENTIAL ENERGY CONSERVATION PROGRAM. � i 23 Notwithstanding any provision of law or charter to the � ; 24 contrary the city of Minneapolis and the city of St. Paul', 1 25 individually or jointly are authorized to develop and administer � �' ---------------------------------------------------------------- ; 26 a program or programs for the making or purchasing of energy � � ------------------------------------------------------------ . ; � � , , 1 . - � � f . � � ._ • � . �� , improvement .or energy rehabilitation loans with respect to 2 housing lqcateci anywhere within their respective bounda:ies on -------------------------------------------------------------- 3 such terms and conditions as set forth in this act and an � --------------------------------------------------------- 4 ordinance which shall be adopted by the governing body or bodies ------------=--------------------------------------------------- S of the munic�.pality or municipalities establishing the program. --------------------------------------------------------------- 6 At least 75 percent of the proceeds of each energy improvement ? or energy rehabilitation loan shall be used for housing repairs -------------------------------�----------------------------____ 8 and improvements (1) which the city determines are (a) used or -------------------------------------------------------------- 9 useful to conserve enerqy or (b) to convert or retrofit an -------------------------------------------------�-------- ; 10 existing structure for the purpose of using an energy source 11 which does not depend on nuclear or nonrenewable petrQleum based ----------------------------------------=----------------------- 12 resources, and (2) which, . when instal7.ed or completed, will with ---------------------------------------------------------------- � 13 respect to each housing unit directly result ih a cost effective � ------------------------------------------------------- ------- j 14 reduction .of energy use from nuclear or �nonrenewable petroleum I15 based resources. The ordinance establishing�the�program_shall 16 establish the manner of determining whether the housing repairs - --------------------------------------------------------------- 17 . and improvements will directly result in the required cost_ -------------------------�------- ------------------------ � 18 effective reduction of energy use. Loans may be made without ----------------------------------------------___------------ 19 regard to income level of the loan recipient, shall bear ------------------------�_----___---=------------------- 20 interest at a rate or rates as are established by the city or- ------------------------------------------------------------- 21 cities, shall be for a term of not to exceed 20 years, and may . 22 be secured by a mortgage or other security interest. The powers ---------------------------------------------------------------- 23 � granted to each city by sections 1 to 5 of this act are . ------------------------------------------------------- 24 supplemental and in addition to those qranted by Minnesota ------------------------------�--�-------------------------- 25 Statutes, Chapter 462C and any other law or charter. � -- ---------------------- ------------------------- � 26 � Sec. 3. [LIMITATIONS. � , - . ; 27 A program may be established pursuant to this act only � ------------------------------------------------------ 28 after the city establishing the prograra determines that: 29 (1j 1"here is a continued need to reduce consumption of ' -----------------------------------------------------;- � �_ 30 energy from nonrenewable petroleum based resources. --------------------------------------------------- 31 (2) There �are housing units within the jurisdiction of the - 32 city which are in need of energy improvements and energy . 33 rehabilitation. � . . ' 34 (3) Private sources of financing are not reasonably = ----------------------------------- -------------, 35 available to provide the needed loans for energy improvetnents 36 and energy rehabilitation. �� 2 � � - � . . . , f _,.�_ _ ._ ..__ . . . _ __ _ _.. - � _ _ . �— ��.a, � . ..;,. I � (4) The t es of ener � •�, , , YP gy improvements and energy � � � �6� 2 rehabilitation will reduce the consumption of energy from ' 3 nonrenewable petroleum based resources or from nucl�ar�sources. -------.------------------------------------------------ 4 Findings made by the city pursuant to this section shall be ---------------------------------------- S conclusive and final. � 6 Sec. 4_ jREVENUE BONDS. ] 7 � Subdivision 1. [RESOLUTION. ) To finance the program or 8 ' •programs authorized by sections 1 to 5, the city council of the --------------------------------------------------------------- 9 city of Minneapolis and the city council of the city of St. Paul ��..��...�.�.��.r�.��.��.��...��..��..��...�..�� 10 individually or jointly may, by resolution, authorize, issue, ------------------------------------------------------------- 11 and sell revenue bonds or obligations, which are payable from ------------------------------------------------------------- - 12 the_revenues of the programs authorized by sectioas 1 to 5. ----------------------------------------------------- . 13 . � � � Subd. 2. [BOND INGG ANll FINANC IAL AUTHORI TY. ) - - - - - 14 Notwithstanding the provisions of any other law, general or �� - 15 special to the contrary, and in addition to therauthority 16 contained_in_any_other_law__the_city_of_Minneapolis_and_the city.� 17 of St. Paul indi�idually or jointly may exercise any and all o£� 18 the same powers in relation to`the making^or purchasing�of loans ---------------------------------------------------------------- � : . 19 or other securities and in the issuing of revenue bonds or ---------------------------------------------------------- 20 obligations in furtherance of the programs authorized by --------------------------------------------------------- 21 sections 1 to S as the Minnesota housing finance agency is ---------------------------------------------------------- 22 authorized to exercise under the provisions o£ Minnesota 23 Statutes, Chapter 462A, without~regard to any of the limitations • ---------------------------------------------------------------- 24 set forth iri Minnesota Statutes, Chapters 462C or 475. The ----------------------------------------------------------- ` 25 revenue bonds or obl.igations shall be payable from revenues from ---------------------------------------------------------------- 26 the program and other city housing programs. The revenue bonds --------------------------------------------------------------- 2? or ob2igations may be payable from other sources of city revenue ----------------------------------------------------------------- 28 which are derived from federal sources other than general --------------------------------------------------------- 29 revenue sharing, or private grant sources. The city shall not -------------------------------------------------------------- �- 30 levy or pledge to levy any ad valorem tax. upon real property for ---------------------------------------------------------------- 31 the purpose of paying principal of or interest on revenue bonds --------------------------------------------------------------- 32 or obligations. ' 33 Sec. 5. [EXERCISE OF POWERS. ] 34 Either or both cities may by ordinance authorize the ------------------------------------------- • 35 housing and� redeveZopment authority or the port authority for 36 their respective city to exercise any or a].l of the powers , 3 � - - : . . L"""u..pq,� • � �7 �, �+�w ��# � ' t b the act in whi �' � to each ci y Y , ch event the sources of ` '�t ---------------------------------------------------- - - +._ -- - - :� _ � citY revenue that may be pledged to the payment of revenue bonds � 3 c�r obligations shall include any revenues of the�hoiising ani3 ------------------------------------------------------------ 4 redevelopment authority or port authority. • 5 Sec . 6. [QUALTFIED MORTGAGE BONDS. ] �. . 6 Subdivision 1. [MINNEAPOLIS. ] In accordance with Section -------------- -------------------------- 7 103A(g) (6) (A) of the Internal Revenue Code of 1954, as amended, ---------------------------------------------------------------- 8 the city of Minneapolis is authorized to issue qualified. -------------------------------------------------------- 9 mortgage bonds as that term is defined in and as the bonds are -------------------------------------------------------------- IO governed by Section 103A of the Internal Revenue Code of 1954, 11 as amended, during any calendar year in an amount not to exceed ----------------------------------------=---------------------- 12 $1.6,000,000. Bonds shall be issued pursuant to authority ---------------------- 13 contained in a special or general� law. . -------------------------------------- 14 Nothing contained within this subdivision shall authorize --------------------------------------------------------- .15 the issuance of qualified mortgage bonds for a prograr�i which ------------------------------------------------------------ 16 would otherwise be subject to Minnesota Statutes, Chapter 462C, - ----------------------------- 17 without compliance with that chapter. 18 Subd. 2 . jST. PAUL. j Tn accordance with Section -------- -------------------------- 19 103(g) (6) (A) of the Internal Revenue Code of 1954, as amended, 20 the city of St. Paul is authorized^to issue qualif�ed mortgage --------------------------------------------------------------- 21 bonds as that term is defined and as the bonds are governed by --------------------------------- 22 in Section 103A of the Internal Revenue Code of 1954, as 23 amended, during any calendar year in an~amount not to exceed 24 $8,500,000. Bonds shall be issued pursuant to authority -------------------------------------------------------- 25 contained in a special or general law. 26 Nothing contained within this subdivision shall authorize -------------------------------=-------------______------ 27 the issuance of qualified mortgage bonds for a program which . ------------------------------------------------------------ 28 would otherwise be subject to Minnesota Statutes, Chapter 462C, --------------------------------------------------------------- 29_ without compliance with that chapter. ------------------------------------ �..- 30 Sec. 7. [REpORT. ] 31 By January 1, 1982, the cities of St. Paul and Minneapolis ---------------------------------------------------------- 32 shall report to the appropriate committees of the legislature on -----------------------------------------------------------�- 33 the implementation of the program created in sections 1 to 5, ------------------------------------------=---------------- 34 The report shall include but is not Iimited to information ozi ----------------------------------------------------------- 35 the amount of bonds issued and the number and types of dwelling 36 uZ2ts served, whether single family multifamily of four units 4 ,>,_ , �,,,�� .,:- ,... . - ;.,:, 1• or_less__or`multifamily_of�more_tha_^________-__ � n four uni ts, �1i ? „ Sec. 8. [EFF�CTIVE DATE. ] � 3 Sections 1 to 5 are effective with respect to ' � � ' eac21 city ' ---- --------------------------- ' ------------------ � . 4 upon_compliance with Miru�esota Statutes Section 645 1 • . 02 _ --- - ---------------------- -- ' '��- S Subdivision 3 . Section 6 is effective the day followi ------------------------------------------ ng final 6 enactment. --"--'- � � � , . • �- 5 _ .....:— -.�.-� __._ 1'�. ]st �`r_ -:1j( -.- � / � 1 , � 2nd �, � 3rd .. � 1 / y � - % Adopted - � !" � Yeas � , , ,, �� Nays � HUNT v � I LEVINE McMAHpv SHOWALTIIt r � �C�U TEDES CO ��V�� WILSON � I PRESIDENT (M�DOX) ' ;