274883 WH17E - CITV CLERK COl1RClI /'�����
P�NK - FINANCE GITY OF SAINT PALTL
CANARV - DEPARTMENT
BLJE MAVOR File NO.
Cty Atty/JTH , ,
Counc�l Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLUTION OF THE COUNCIL OF THE CITY OF SAINT PAUL
CONCURRING IN ACTION OF THE HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA,
AUTHORIZING JOINT PREPARATION OF A HOUSING MORTGAGE
PROGRAM WITH THE CITY OF MINNEAPOLIS AND REVENUE BOND
ISSUE IN CONNECTION THEREWITH
WHEREAS, by its Resolution No. 80-5/7-1, adopted May 7, 1980,
the Board of Commissioners of the Housing and Redevelopment Authority
of the City of Saint Paul, Minnesota (HRA) , authorized the joint
preparation with the Minneapolis Housing and Redevelopment Authority
(Authority) of a Housing Mortgage Revenue Bond Issue in an aggregate
amount not to exceed $150,000,000, authorized retention of fiscal
consultants and co-bond counsel with costs allocated as a part of
such issue, or to be shared in the event of no issue, and authorized
joint preparation of a Housing Program for submission to the
Minnesota Housing Finance Agency for its approval. of the Program
and Issue; and
WHEREAS, there is a need for the additional provision of
adequate housing and sources of housing construction or purchase
financing not being met by private enterprise, nor by City Housing
Finance Programs undertaken to date, which would be significantly
ameliorated by the undertaking with the City of Minneapolis and
its Authority and with the financial assistance of the McKnight
Foundation of the proposed Housing Program and Revenue Bond Issue;
and
�
WHEREAS, the preparation of a Housing Finance Program and
Revenue Bond Issue for the purpose of making or purchasing mortgage
loans to finance the acquisition of single family housing primarily
by low and moderate income persons and families within the City
COUNC[LMEN
Yeas Nays Requested by Department of:
Butler
Hozza [n Favor __
Hunt
Levine _ __ Against BY -
Maddox
Showalter
Tedesco Form Approved by City Attorney
Adopted by Council: Date
Certified Yassed by Council Secretary BY �
�
By
t�pproved by 14avor: Date _ Approve Mayor for Submission to Council
By _ — BY � -
WMITE - CITV CLERK � COl1RCIl ��'���
PINK � - FINANCE G I TY OF SA I NT PAU L
CANARY -�EPARTMENT -��
BL'OE - MAVOR � File NO.
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
2 .
is necessary and in the public interest as contributing to the
public health and welfare of the community in the provision of
adequate housing for its citizens.
NOW THEREFORE, BE IT RESOLVED by the Council of the City of
Saint Paul that it hereby concurs in the joint preparation by
the Housing and Redevelopment Au.thorities of Minneapolis and
Saint Paul of a Housing Program' proposal and Revenue Bond Issue
in the aggregate not to exceed $150,000,000, the retention of
fiscal consultants and bond counsel, and the submission of said
Program and Issue for the approval of the Minnesota Housing
Finance Agency.
FURTHER RESOLVED that all City Officers and Departments
are authorized and directed to render every aid and assistance
in the preparation and submission for approval of said Program
and Issue.
COUN(:ILMEN Requested by Department of:
Yeas M�qHON Nays
� � In Favor
Hozza
Hunt ''' �
Levine _ __ Against BY �
Maddox
Showalter
T �� � 1�O Form Approved by City Attorney
Adop y Cou il: Date
ertifie V• :ed y Council�Secret BY �
y �=
App o by Mavor: Dat ` Q Approve y Mayor for Su i ' n to Council
�
ay� � — — BY
Rlettst�t� MAY � 7198��
. �
RESOLUTION N0. 80- ������'
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF SAINT PAUL, AUTHORIZING THE JOINT PREPARA-
TION WITH THE HOUSING AND REDEVELOPMENT AUTHORITY IN
AND FOR THE C�TY OF MINNEAPOLIS OF A HOUSING MORTGAGE
REVENUE BOND ISSUE, IN AN AGGREGATE PRINCIPAL AMOUNT NOT �
TO EXCEED $150, 000, 000; AUTHORIZING THE RETENTION OF
FISCAL CONSULTANTS AND BOND COUNSEL; AIITHORIZIivG THL
STAFF OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF
THE CITY OF SAINT PAUL TO PREPARE A HOUSING PROGRAM FOR -
SUBMISSION TO THE MINNESOTA HOUSING FINANCE AGENCY AND
TO DO ALL THINGS NECESSARY TO SECURE THE APPRQVAL OF
THE MINNESOTA HOUSING FINANCE AGENCY FOR TFiE ISSUANCE
OF HOUSING MORTGAGE REVENUE BONDD PURSUP�TT TO THIS
RESOLUTION
WHEREAS, the Housing and Redevelopment Authority of the City
of Saint Paul (HRA) has been created pursuant to the Municipai
Housing and Redevelopment Act, as amended, constituting Chapter 48?
of the Minnesota Laws of 1947, as amended, and appearing as Minnesota
Statutes, Sections 462.411 et seq. (the "Enabling Act"} ; and
WHEREAS, the Municipal Housing Programs Act, Chapter 30& of
the Minnesota Laws of 1979 (the "Act") , declares and provides that
a city or a housing and redevelopment authority may develap and
administer programs of making or purchasing mortgage loans to
finance the acquisition of single family housing primarily by low
and moderate income persons and families anywhere within its
boundaries (the "Program") ; and
WHEREAS, the Act provides that a city or housing anci redevelop-
ment authority may issue and sell revenue bonds or abligations in
order to finance the Program which bonds shall be payable exclusively
from the .rsvenues of the Progr.am; and
WHEREAS, the HRA has determined that the City of Minneapolis
and the City of Saint Paul are in a unique position to cooperate
and assist one another in carrying out the purposes af the Act to
the greater benefit of each city by the joint and mutual development
and administration of a single Program to make mortgage loans
available to finance the acquisition of single family housing b�
low and moderate income persons and families anywhere within the
boundaries of either city; and
WHEREAS, neither the City of Saint Paul nar the State of
Minnesota or any political subdivision thereof shall be lialale on
the Bonds, and the Bonds shall not be a debt of the City of
Saint Paul, the State of biinnesota or any political subc�ivision
thereof nor shall give rise to a charge against the general credit
or taxing power of the City of Saint Paul, the State of Minnesota
or any political subdivision thereof (including without limitation
the HRA) , nor shall be payable out of any funds or properties of
the HRA other than revenues of the Program;
NOW, THEREFORE, BE IT RESQLVED BY THE BOARD OF COMMISSIONERS
OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT
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2.
PAUL, MINNESOTA: �
�
Section 1. That the joint preparation of a housing mortgage
revenue bond issue by the HRA and the Housing and Redevelopment
Authority in and for the City of Minneapolis in an aggregate '
principal amount not to exceed $150, 000,000 is in the public .
interest of the City of Saint Paul, and that the preparation of
sueh a joint bond issue by the City Planning and Economic
Development Department, acting as the staff of the HRA is therefore
authorized.
Section 2 . That for the purpose of preparing the joint bond
issue the retention of Evensen-Dodge, Inc. , as fiscal consultants,
to provide necessary assistance for a fee to be determined in
accordance with the attached letter designated as Exhibit A and
the provision of Sec�ion 6.
Section 3. That fo� the purpose of preparing the joint bond
issue the retention of the law firms of Holmes & Gravenp Ghartered,
and Briggs & Morgan, P.A. to act as co-bond counsel far a fee to
be determined in accordance wit� the attached letters designated as
Exhibits B and C and the provision of Section 6 .
Section 4. That in the event that no bonds shall be issued
under the proposed Program, the HRA and the Housing and Rede�elopment
Authority in and for the City of Minneapolis shall each bear its
own administrative costs and shall equally share the costs of
the fisacl consultant and bond counsel, such costs to be determined �
in accordance with Exhibits A, B, and C. j
Section 5. That the staff of the HRA is authorized and I
directed to prepare a housing program as required by Minnesota Statutes, �
Section 462C.03 of the Act; to present said housing program to the I
HRA for public hearing and approval and to submit said program to �!
thE Minnesota Housing Financa Agency for their approva� as required i
by Minnesota Statutes, Section 462C. 04.
Section 6 . That the staff of the HRA is authorized and directed
to assist and cooperate with the Housing and Redevelopment Authority
in and for the City of Minneapolis in all ways necessary to achieve
the purposes of this resolution. Upon receipt of a signed and
attested copy of a resolution of the Commissioners of the Housing
and Redevelopment Authority in and for the City of Minneapolis
, approving preparation of a joint Program proposal, authori�ing
retention of the fiscal consultant and co-bond counsel identified
in Sections 2 and 3, and committing to payment of costs substantially
in accordance with Section 4 hereof, HRA and the Minneapolis Authority
staff may issue a letter to the consultant and counsel directing
commencement of the provision of services and the incurring of costs.
PASSED AND APPROVED THIS day of , 1980.
HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF
SAINT PAUL, MINNESOTA
(SEAL)
By
C airperson
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`.,� Date : hlay 5 , 1980
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TO : Saint Raul �i�y CQtar��i!
FF� C� �+� � COiT1C�t��'£� O INANCE , b1ANAGEMENT AND PERSONHEL �
� ' the fo{ lovvin
RUBY HUNT � , chairman, makes 9
repnrt on G.F. [� �rdinur.ce
( ) � E�esolut�ion
� Ufher
T i`�`�.� e
Tne Finance Committee, at its meeting of May 5 , 1980 , recommendeci
approval of the following:
-• 1'. Resolution establishing title of Emergency Preparedness -Coordinator
in Grade 37 of Section 3. E (Fire Non-Supv . Group) of the GiviT Service
Rules and also establishing class specs for this title in Section 32
of the Civil Service Rules .
2 . Resolution pertaining to filling the Property Manager .posi.tion be
forwarded directly to the City Council after it has been passed
by the Civil Service Commission.
3. Resolution authorizing adrnanistration to negotiate leasing _of
space in City Hall Annex.
4 . Resolution providing budget amendments in CD Year IV and V. ; ,
5. Resolutions approving joint mortgage financing undertaking with " _
the City of Minneapolis and the McKnight Foundation .
(resolutions will be forwarded later) . �
CiTY F3�LL SEVENTH FLOOR SAINT P�UL, �1INtiFSOTA S�i02
�j'y>,i,�
.!'79