275470 WHITE - CITY CLERK �
PINJC ' �INANCE
CA(tflRY EPARTMENT G I TY O F SA I NT PA U L COUIICII ef�,
�LUL� ; - MAYOR File N O. ����./
uncil Resolution
Presente y
Referred To Committee: Date
Out of Committee By Date
RE50LUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL
FOR A PROGRAM FOR A MLJLTI-FAMILY HOUSING DEVELOPMENT
PURSUANT TO MINNESOTA STATUTE5, CHAPTER 462C, AND
AUTHORIZING THE PUBLICATION OF A NOTICE OF SAID ,
HEARING AND AUTHORIZING THE PREPARATION OF THE NECESSARY
DOCUMENTS AND MATERIALS IN CONNECTION WITH SAID HEARING
WHEREAS,
(a) Minnesota Statutes, Chapter 462C (the "A�t") authorizes
cities the power to issue revenue bonds for the purpose of planning,
administering, making or purchasing loans to finance one or more
multi-family housing developments within the boundaries of the city;
(b) The City of Saint Paul (City) has received from Austin/King
Housing Enterprises (the "Developer") a proposal that the City
undertake a program to finance a multi-family housing development by
the authorization of the issuance by the Port Authority of the City.
of 5aint Paul ("Port Authority") of its revenue bonds (which may be
in the form of � single debt instrument) pursuant to the Act;
(c) Before proceeding with consideration of the request of the
Developer it is necessary for the City to hold a public hearing
pursuant to Section 462C. 05, Subdivision 5 of the Act.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Saint Paul as follows:
1. A public hearing to consider the proposals of the Developer
will be held at the time and place set forth in the Notice of Hearing
hereto attached.
2. The general nature of the proposals and the estimate of the
principal amount of housing bonds to be issu�d by the Port Authority
COUNCILMEN
Yeas Nays Requestgd by Departm�of:
Hunt -
Levine In Favor
Maddox
McMahon B
snowa�ter - __ Against Y
Tedesco
wlson
Form Approved ity Attorney
Adopted by Council: Date
l
Certified Passed by Council Secretary BY
By
Approved by ;Nayor: Date _ Approved or r Submi Coun il
BY BY '�C�
WHITE - CITY CLERK �
PINK _ �INANCE
CAKARY EPARTMENT G I TY O F SA I NT PA U L COIIIfCII ���0 �
�LUE_��y - MAYOR
File N .
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
2.
to finance the proposals are described in the form of Notice of
Hearing hereto attached.
3. The Notice of said public hearing shall be substantially
the form contained in the Notice hereto attached.
4. The City Clerk is hereby authorized and directed to cause
said Notice of Aearing to be given on publication in the official
newspaper of the City of Saint Paul, Minnesota, and in a newspaper
of general circulation, not less than 10 days nor more than 30 days
prior to the date fixed for said hearing, as shown in the Notice of
Hearing hereto attached.
Adopted by the Council of the City of Saint Paul, Minnesota
this 14th day of August , 1980.
COUNCILMEN Requestgd by De artment oE:
Yeas Nays ��
Hunt
�evine In Favo[
Maddox �
McMahon
�� _ __ Against BY
Tedesco
Wilson A�^ � � ����
`' � �� Form Approved�City t orne
Adopte y Council: Date — t
Ce ified Pas by Coun ' ,ecretzfry BY �
Approved by ; avo : ate A 8 Approved Mayor for Submi ion q Council
By BY
Pt)BL►SNED AUG 2 3 19�4
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Date: August 13, 1980
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T0: #�k'�OR 6EOR6E tA�'Il�R kUv 13 1�80 '
, NIAY_�tt'� � >
Ft�l: Terry McNellis�
I�: 462C Housing Pcogram (Aus#in King� ;
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A+�'�I� RE ESTED: `
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Approv►e for �bmissi�n to council or� Thursday 8/1.4 - ll►Iai�et aiready placed c�n $genda. �
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�E MIO �ATItN1A1.E �'OR TFf'IS �1C I�: . � _��, �
. � :��cfii�n rs�uired by new State Law. Fro�ect pt�evicwsly appcoved by Ci#y. Tt�is
acti,c� is nece�ary to p�rmi# the Port A►u#hor3ty:tu seli the bQnds.
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' ATTACHMlENTS; . �
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Gotmcil Resolution �';�h;
NoticG af Atjblic Hearing
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NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR A PROGRAM TO
FINANCE A MULTI-FAMILY HOUSING DEVELOPMENT
To whom it may concern:
Notice is hereby given that the Council of the City of
St. Paul ("City") will meet at the City Council Chamber,
City Hall in the City of Saint Paul, Minnesota at ten o 'clock
a.m. on August 26, 1980, to consider the proposal of Austin/
King Housing Enterprises , that the City assist in financing a
program provided for in the West Seventh Street UDAG Grant
Agreement (B-80-AA-27-0016) to be carried out by the Port Authority
of the City of Saint Paul ("Port Authority") issuance of housing
revenue bonds to be used for the construction/permanent financing
� of 120-144 residential units by Austin/King Housing Enterprises
by authorizing said issuance of housing revenue bonds by the
Port Authority.
The estimated principal amount of bonds or other obligations
to be issued to finance the program is $ 5,560,000
Said bonds or other obligations if and when issued will
not constitute a charge, lien or encumbrance upon any property
of the Port Authority or the City of Saint Paul except the
project and such bonds or obligations will not be a charge
against the Port Authority or the City's general credit or
taxing powers but are payable from sums to be paid by the
developers pursuant to a revenue agreement.
A draft copy of the proposed housing finance program,
together with all attachments and exhibits thereto, are available
for publ.ic inspection beginning August 14 , 1980 , from nine o 'clock
a.m. to four o'clock p.m. , Monday through Friday, at the offices
of the Renewal Division, Department of Planning and Economic
Development, City Hall Annex, 12th floor.
At the time and place fixed for said Public Hearing, the
City of Saint Paul tirill give all persons who appear at the
hearing an opportunity to express their views with respect to
the proposal.
Dated this 14thday of �u�st , 1980 .
(BY ORDER OF THE CITY OF SAINT PAUL)
gy Aose Mix
City Clerk