274169 WNITE - CITV CLERK COUIICII ���4�.69
P�NK �- -- FINANCE
BLUERV�MAVORTMENT GITY OF SAINT PAUL File NO.
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
CONCURRING RESOLUTION PERTAINING TO THE
HOUSING AND REDEVELOPMENT AUTHORITY OF
THE CITY OF SAINT PAUL, MINNESOTA,
MULTI—FAMILY RENTAL HOUSING DEVELOPMENT
REVENUE PROGRAM
WHEREAS, the Housing and Redevelopment Authority of
the City of Saint Paul, Minnesota (the "HRA") has adopted a
Master Note Resolution as Resoluta.on No. 79-12/12-11 (the
"Resolution") pertaining to the Multi-Family Rental Housing
Development Revenue Program (the "Program") pursuant to Chapter
260, Laws of Minnesota for 1975 and Minnesota Statutes, Chapter
462A (for that portion of the program implemented prior to
January 1, 1980) or pursuant to Minnesota Statutes, Chapter
462C (for that portion of the program implemented after January
1, 1980) , and pursuant to Chapter 72, Saint Paul, Minnesota,
Administrata.ve Code, Housing and Rehabilitata.on Fa.nance
Programs (the "Ordinance" ) ; and -
WHEREAS, the Mayor has designated the HRA as the
political subdivision by and through which the City of Saa.nt
Paul (the "Ca.ty" ) shall implement the program, and issue
multi-family rental housa.ng program revenue notes (the "Notes" )
to finance the Program in an aggregate principa�. amount not
exceeding $100,000,000 ; and
WHEREAS, the HRA has accepted such designation by the
Mayor of the C�ty; and
COUIVCILMEN Requested by Department of:
Yeas Nays ;
Butler [n Favor
Hozza
Hunt
Levine __ Against BY
Maddox `
Showalter
TedesCO Fotm Approved City Attor ey
Adopted by Council: Date �
/
Certified Passed by Council Secretary BY
By /
Approved by 1+lavor: Date _ A p oved y Mayor for �s ion to Council
BY - – — BY .
�;� � � �
���* ����
- � _ r� ,f.i.»
WHEREAS, by adopting the Master Note Resolution, the
HRA has approved the form of the following documents, subject
to such variances as may be required by each Note, are approved
by the HRA, and will not, in the opinion of Bond Counsel, be
adverse to the interests of the HRA:
a. Loan Agreement;
b. Construction Loan Agreement;
c. Statutory Mortgage, Assignment of Leases
and Rents and Fixture Financing Statement;
d. Declaration of Covenants and Restrictions;
e. Regulatory Agreement;
f. Supplemental Note Resolution;
NOW THEREFORE, BE IT RESOLVED by the City Council of
the City of Saint Paul, Minnesota, as follows:
1. The Council hereby ratifies and confirms the
action of the Mayor in designating the HRA as the political
subdivision by and through which the City shall implement the
Program, and issue the Notes to finance said Program.
2. The Council hereby adopts and confirms the
findings and determinations of the HRA contained in the
Resolution.
3. Subject to the approval of the City Attorney, the
forms of Loan Agreement, Construction Loan Agreement, Statutory
Mortgage, Assignment of Leases and Rents and Fixture Financing
Statement, Declaration of Covenants and Restrictions,
Regulatory Agreement and Supplemental Note Resolution are
hereby approved.
4. The Mayor and City Clerk and other officers of
the City are authorized and directed to prepare and furnish
certified copies of all proceedings and records of the City
wHi7E - ciTr CLERK COUflC1I �r�����
PINK - FINANCE GITY OF SAINT PAUL
�ANARV - DEPARTMENT
� Bl_UE" �- MAVOR File NO•
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
relati.ng to the Notes, and such other affidavits and
certificates as may be required to show facts relating to the
legality of the Notes as such facts appear from the books and
records in said offa.cer's custody or control or as otherwise
known to them; and all such certa.fied copies, cert9.fi.cates and
affidavits, includa.ng any heretofore furnished, shall
constitute representat�ons of the Ci.ty as to the truth of all
statements by the City and contai.ned therein.
COUIVC[LMEN
Yeas Nays Requested by Department of:
�''�'.�Q►7o n � [n Favor
Hozza � �
-Hiwt�
L.evine _ � __ Against BY
Maddox �c�
Showalter
Tedesco DEC 2 0 1979 Form Appr by City Attorn
Adopted by Council: Date
Certified Pa Coun .il S ta BY
B �
�1pp by Mavor: Date �DE� 2 1 1979 Approved by Mayor for Submission to Council
By� - - - By
�tisHEO D E C 2 9 1979
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