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265680 WHITE - CITV CLERK � PINK - FINANCE GITY OF SAINT PAITL Council CANARY - DEPy RTMENT, BLU E ��AV 6R File N O. 2656�� ncil Resolution Presented By Refe d To Committee: Date Out of Committee By Date RESOLVED, by the Gouncil of the City of Saint Paul� that Chapter 260� Laws of Minnesota for 1975� approved the 2nd day of June , 1975� entitled: "An act relating to the city of Saint Paul ; authorizing _a hous ing f inan.ce program; provid ing for the is suance of general obli�ation and revenue bonds ; providing for and authorizing said city to issue its general obligation bonds for housing and rehabilitation loan and grant programs ; removing certain bonding authority for re- habilitation loans for urban renewal development and code enforcement areas ; amending Laws ig63, Chapter 881, Seetion 1, Subdivision 1, as amended, and adding a subdivision; Laws 1974, Chapter 351, Section 4; re— pealing Laws sg63, Chapter 881� Sections 4 and 5, as added by Laws 1973, Chapter 395, Section 2. �� a certified copy of which is filed herewith, shall be and said Act hereby is in all things approved; and RESOLVED F'URTFIER� that the City Clerk� as the chief el:erical officer of said Gity of Saint Paul, shall forthwith �ile with the Secretary of State a certifieate in form prescribed by the Attorney General stating the essential facts necessary to said approval of said Act hereunder and including a copy of this resolution of approval of said Act. COUI�iCILMEN Requested by Department of: Yeas Nays � ' � Hunt [n Favor Rcedler _� A ainst BY Sylvester g Tedesco President �dfX Hozza Adopted by Co . Date ,�� 2 s �9� Form Ap by City Attorney ��s Certi ' P e y C n ' ecretarly By Appr by Mayor: Date Approved by Mayor for Submission to Council BY BY �ueusH�n JUL 5 t975 i I � � � 1 • 1r-, J- t ^ ' . � `�+ � t/ � CITY OF SAINT PAUL ��TY OA �Q4� �.�i Rose Miz o - "' .•••••• Albert B. Otsos CiEy Clerk and �,� ��-'�-�-�� a� Council Recorder Council Secretary �m tic .... OFFICE OF THE CITY CLERK BUREAU OF RECORDS 388 City Hau St.Pau1,Dsinnesota 5610t Phone 298-.��11 � .� Ju7�y 1, 1975 Joan Anderson Growe � . Secretary of State � 180 State Office Building St. Paul, Minnesota Dear Ms. Growe: Attached for filing in your office is a certificate of the City of Saint Paul, approving Chapter 260, Laws of Minnesota for �975. �i Will you please time starup the enclosed copy of this letter and the certificate and return them to me. Ver truly yours, - �`r?�. City Clerk AO�sc Att. �TA7E OF M1NN�SOTA pEPAR'T��E D �ATE J U L :� - ��75 �� SecretaN of Statie �� , 4 _ • . CERTIFICATE OF APPROVAL OF SPECIAL LA'W IiY GOVERNING BODY • (Pursuant to �'Iinnesota Statutes, b45.U2 and 645.U21) STATE OF AfINn'ESOTA . County of Rarnsey ' � TO THE SECRETARY OF STATE OF A7INNESOTA: , � y - 1'' PLEASE TAKE NOTICE,That the undersigned chief clerical officer of the , , . -� Cit� of Saint Paul (name Zgovernmental unit) DOES IiEREBY CERTIFY, that in compliance �with the provisions of Laws, 19 75, Chapter 260 requiring approval by a • majority vote of the governing body of said ]ocal _ . _ , governmental iinit before it becomes effective, the City Council -- ' • (designate governing body) at a meeting duly hcr.ld on the 2bth day of .Ti�nP , 19 3�._, by re�olution C.F. No. 265680 •did approve said Laws, 19 75 , Chapter 260 (If other than resolution,specify) • b� a majority vote of all of the:members thereof (Ayes�_; I�`oes�_; Absent or not voting_�.) and the follo�+zng additional steps, if any, requir- ed by statute or charter were taken: . Resolution to be �ublished in official �aper of city - A copy of the resolution is hereto annexed and made a part of this certificate by reference. . � , Signed- SEAL (Officia] designation of of5cer) (This form prescribed by the Attorney General and furnished by " the Secretary of State as required in I�iinnesota Statutes 645.U21) *If extraordinary majority u required by the special Iaw insert fraction or percentage here. . • . STATE OF MINNESOTA DEPARTMENT OF STATE FILED J U L :i - 1�7� - � /�,b,dl�G��✓.� � � Secretary of State � ` � � � , - -�-� _ _ _ -- - _ - _� �� ' �--�-,� � = - _ � - - - �� , / � � � — - - � , t , S � •� � � �j.E7lll1 t Lto _ v �URD� r-1I `< ; I L[J ��.. e ' � _� [], -� _ � .�� - . . J I �� - • �.:� ..— � — — . .--- ' '_ — _ ——'—" � -- _ l -- —_._� ;�. ___ .__._ � .._ _ _ __—.__ I�_'YP.. — _""_— ! �_'_ F� --.__ 2�� y. � _ 3:� �� "� Lu;,:� , _ �I� � . � �li ° i , __ _ ___ __ r"_} .�.�,,,�"'- _ -_ -- ---- �� .. - _ _ � �� -- --- � . - -- -- • �--- - _ __ _� � � � I, Toan Anderson Growe, Secretary o�'State of the State of Minnesota, do hereby certify that I have compared the annexed copy with the record of the original --instrument-- in my office of HOUSE FILE N0. 1513 CHAPTER N0. 260 APPROVED JUNE 2, 1975 LAWS OF MINNESOTA, 1975 and that said copy is a true and correct transcript of said --instrument-- and o�the whole thereof . IN TESTIMONY WHEREOF I have hereunto set my hand and affixed the Great Seal of the State, at the - Capitol in St. Paul, this 6thday of 'j�e � A. D. 19 75 . � ` � SE ETARY OF TATE � � � , �� , ,�-� 1 ,'� � �; ��_-�� . � O :� , ; ...• . _ . • .. . _ . � _ . .. • .._. _. .� . .. . • . . . . s � •.. . . • � . .� . � . . - . . � . , . .. . � . - � - - �v��] ' _ __ ' J H.F.No. 1�13 CHAPTER o. ACT 26 AN o � � 2 relatinv to the city ot Saint pault evthorizinQ a 3 housinq tinance proqram� providin9 for the 4 issuance ot qenerai obliqation and revenue bondsf S providinq for and �authorizing said city to issue - 6 �ts QeneTal obligation bonds !or housinq and � rehab113tation loan and qrant programs� removinq 8 certairt bondinq authority for rehabilitation loans 9 tor vrban re�ewal development and code enforcement_ ' 10 areas� amend�ng Laws 1963, Chapter 881, Section 1► I1 Subdivision 1� as amended, and adding a 12 � subdivigionl Laws 1974, Chapter 35] , Section 4� 13 repea�ing Laws 1963, Chapter 881� Sections 4 and � iq . 5, as added by Laws 1973, Chapter 395, Secfiion 2. 15 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA� 16 Sectton 1 . The leqislature o! the state of Minnesota ---------�-- 1T tinds that pzeserYation of the quality of life in a major �_� — 18 metropolitan city is de�endent upon the maintenance, ....__., 19 DroVision, and preservation ot an adequate housin4 stockt - - - , ZO that accomplishinq this is a Dublic purpose� that there are ....��- 21 manY housinq units in the city of St. Paul that do not meet .. - - - �_ 22 the applicable housing codes, some o! which need to be _�� Z3 destroyed, and some of rrhich can be rehabilitated�_tha�t a_ Z4 need exista to re�lace housinq vrhich is deatroyed� that a � �_r._._..._. • 2S need exists . for mortqaqe cre.dit to be made available for neK �...--- ` 26 constructionl that retinancing existing mortqaqes will allow � �.�. - - --- ---- �"- Z7 owners of houainq units which need rehabilitation to take ,.,..�..._..__._�_.--..._._.._ . _ 1 r' . . . - - . '. • : '.•. � . • . • , ._ . . _ � . . ; . _ . � • . � . . .. . .„ . . . � � , . . . i . .• . . ... _: `. , ,, � j"..► � . _ _ � • --- - . �� . . � H.F.No. 1513 1 advanta9e of exi�ting rehabilitation Droqrams � and that many 2 orrners, xould-be pur�hasera or providers ot housinq unita ..__� -- 3 are eithe� unable to afford mortqa9e credit at the market . -- ..� 4 rate of interest or obtai,n mortqaqe credit because the - -- .,... _��_ S mortqaqe credit market is severelY restricted. �� 6 Sec, 2� Subdiyiaion l , The city of St, Paul is _.. 7 authorized to develop and administer a 6�rogram to linance _..__, 8 Aousinq, lo�ated anywherc rvithin ita boundariea, !or �.._._� 9 �oCCUPancy primarily by perso�s . o! low and moderate income to � - - ,.. ____- 10 aehieve the purpose set forth in section 1 � provided that in �.� - --- ,..- __,—_____ . 11 developinq this Proqram, the city shali considers lZ (a) the availability_ and affordability of other - .�� - 13 4overnmental pro9rams � � r.�___._.__.. • 14 (b) the availability and aftordability of private ��_.�_.�,. � 15 marke� tinancinqj 16 �e) xhether refinancinq , existinq mortqaqea wiil enable _._____�.._.. 17 rehabilitati�n ot housing unita under a state or local 18 housinq rehabilitatl,on program� ^�.��.��...�-+�.--..., 19 (d) the need for rehabilitatinq housing units acQuired — , �0 from governmental bodies and agencies � . Z1 (e) the need for additional mortqage credit to �' ----�_ _ 22 encouraqe the purchase o! rehab�litated housinq units from . - - __�____. ,..,..._____.._. 23 4overnmental bodies and aqencies � and —�-_.�.._��. Z.4 � �f� the need tor add�:tional mortqaqe credit to .._.._.__ _�_.. ZS encou�aqe the purchase o! houainq units which are located on � ..-_.- _ 26 property �vhich qovernmental bodies or a9enciea have ecquired � �� i�� M� 27 and made suitable tor housing construction. , --- ._..,_ 28 Su�_2. The city council shali, by ordinance, Z9 promul4ate requlations �or thia program. Loana ahall not be .�__.,. __._______`.,_.,,�,,,, 30 made phen the city determines that �inancinq Sa otherNiae r '; 31 aVailable from private lenders upot► terma and conditions '<y �-- ---------- __„ �2 r+hich are atfordable by the e�pp�llcant, as provided by the ' � � 2 � :� � ,� rv, - , . � - , • � . .. . . � • � ' � • " . � . _ � , .�' ' . • •. . � - . . r�"�-. . ' - "' .- i .. ..'. . . , . - ' �� . ' • d . �� H.F.No. 1513 1 city in its re9ulations . Z � Subd. 3. To tinance the Droqra�n authorized by this 3 section, the city council of the city o! St. Paul may by 4 resolution, and Mithout an election, authorize, i_sue,and � sell qeneral obligation bonds og the city in accordance Kith ...._- __.___-._ 6 the DraVisiofl$ of Minnesota Statutes� Chapter 475, The � total amount of all general obliqatlon bonds outstandi�or e the proqram provided for in this section shall not exceed r.� ---- 9 g2,000, 000, shall not constitute indebtedness ot the city _...__ 10 tor the purpose of any statutory or charter debt limitation� _•.----�--------*----- il Subd. 4. In establishinq the pro4ram provided for in ..r- _��. 1� this sectionr the city council . shall make every effort to _______ ig ensure that the revenues qenerated from the mort9age credit 14 �nade available are sufficirnt to retire the bonds issued to . -. -- � 15 linance the program and to prov�de tor the administrat_ iv� ,.,� .... ...._- �6 eosts o� the pro4ram. - Z� Sec. 3� 3ubdivision 1. The city ot St. Paul is 18 �uthorized to develop and administer a progxam to finance 19 housinq in addition to that authorized in section 2� located . . ZO anywhere within its boundarics, to achieve the purposes set Z1 lorth in section 1r on Such terms and conditions as it 2Z determines . The city council shall, by ordinance, , ...... Z3 Promul9ate requlations for this program. Loans shall not be _ Z4 made xhen the city determines that financin9 is otherw_ ise __.,.,.,_.._ _ �- 25 available from private lenders upon terms and conditions 26 r+hich are affordable bY the app�icant, as provided by the �7 citY in its requlations. ZB 3ubd, 2, To finance the program authorized �by this �•-•--�-- Z9 section, and by section 2� the city eouncil o# the city of • 30 St. Paul may bY resolution, and without an election, ' 31 authorize, issue, and sell revenue bonds or obli9ations, -- 32 payable so�ely trom revenues of the pro9rams euthorized by 3 �:� . .•►� , . � . � _ . • , .. . . . .. � . ._ ' ' . . + �.••.. �� , "". .. .� . .. . . . ~ .. ___. • ` - ,��ti�� . H.F.No. 1513 i this act defined and pled9ed to their payment by auch a resolution. ... - 3 � Sec. 4. Subdivision l . In the maKin9 or purchase of 4 loans or other securities in , furtherance o! the programs �____.___ 5 authorized . in sections 2 and 3, and in the issuance of � 6 =evenue bonds or. obliqations , pursuant to aection 3r the city 7 council maY exercise� or may bY ordinance authorize an � �. --- g existing aqencY or an a4ency created bY such ordinance to ` 9 exercise, within the corporate limits ot the city, any and ..____.__� - -- 10 all of the powers xhich the Minnesota housinq tinance agency • �,_� _ 11 is authorized to exercise under the provisions of Minnesota _ �- 12� Statutes, Chapter 462A. 13 Subd. 2. The c�tY council shaii not amend the �_ _ - ---- la regulations adopted by ordinance and in effect at the time ' � . 15� any revenue bonds or obligations authorized by this section 16 are iasued, to the detriment . of the holders of auch revenue �-------.-----�--- ---�- - _. 17 bonds or obligations. 18 3ec, 5� Laws 1974, Chapter 35.1r Section 4, is amended 19 to readt � � . 20 . ,Sec. 4. [ISSUANCE OF BONDS,� To finance the programs �1 authorized in sections 2 and 3 or this act, the council of 22 the c�ty of Saint Paul� bY resolution ox resolutions, may Z3 trom time to time suthorize, issue and seli qeneral . 24� obli9ation bonds ot the cifiy of Saint Paul• without a vote 25 o�t the electorate, Sn accordance with the proVisions ot 26 Minnesota Statutes, Chapter 475, notwi,thstandin9 any other ' 27 provision of lavr or of the city charter or ordinance. The 28 total amount ot bonds authorized to be isaued !or the 29 Durposes described in this ac� ahall not exceed the . 30 a49reqate oi-43r�$ �5�000,000 . The amount ot bonda � 31 issued p�rsuant to thi� authority ahall be excluded in the 32 computation of the net debt of the city as defined by . - . 4 :� ' . . •.. - � � . • .. . . � . :� . . ' .. ' , � . . ' � � .r •• ' . . �.. .. �.. . .. . . - . . r ♦ �.. • ' . . . � _ •. � "�� . H.F.No. 1513 1 statute or charter. The council ot the city of Saint Pau1 Z is authotized to levy and collect taxes to repay auch j obli9ations issued pursuant to the authority contained 4 hereinr and this authority is not aubject to any tax or 6 apptopriation or expenditure �.imit other�rise imposed bY any 6 la� or charter provision� The council may authorize the use 7 ot bond proceeds for administration and operation expensles ., ---�-�— 8 of the proqrams Drovided that the total amount oP proce__eds g sp authorized shall not exceed the sum equivalent to. s'ev_en ____._•. • �p percent of the totai value of all bonds issued under the 11� Provisions ot �his act. � _ -- — lZ Sec, 6� . Laws 1963, :Chapter 881i section l , 3ubdivision 13 - 1• as amended by Laws 1967, Chapter 499, Sectlon 1� Laws 14 1969, Chapter 923, 3ect�on �1, Laws 197i, Chapter 321r � 15 8ection 1� and Laws 1973, Chapter 395, Section 1� ia amended : 16 to read: � 17 5ection 1. [ST. PAUL, CITY OF� URBAN RENEWAL� BONDS.] 18 Subdivision 1. The citY ot saint Paul may issue its qeneral � !9 obiiqation bonds for the purpose ot and in the amounts 20 necessary for paying not to exceed one third of the net ZI project eost of each of the urban renewal development or 22 code enforcement projects heretotore desi9nated by the -- 23 housinq and t'edeveloDment authority of the city of Saint Z4 Paul or the city of Saint Paul as the Downtown, Cathedrai, ZS Riverviea� Concord Terrace, Summit�Universit;►, ar.d Phalen Z6 Aree projects and such additionai projects which may be Z7 approved in the manner provided by law, and for paying any Z8 remaininq costs of municipal buiidin4s and improvements to �9 .be eonatructed within or adjacent to the projecx area, The � . 30 .. net pro�ect cost referred to in this act 1s tbe pubiic � 31 redevelopment cost o! the project less its caPital proceeds, • 3� as those terma are defined in Minnesota Statutea, Section g . . , . . . - ,� � , ..�. . - . • . - • ' . ' ' �• . . t :'�.. '� . ". -• � - -• . . , . � � • ` - _ _ " . . . _ ��t�� x.F.xo. 15i3 1 462.545, and in aubdivision Z, and as the amounts thereot - ; Z �are estimated by the city council prior to the deliverY of , 3 each aeries oP bonds. The totai amount of bonds authorized � 4 herein shall be limited to—�rf�� 543,400►000 . 5 Sec� 7. Laas 1963, Chapter 881� Section l, as amended 6 by Laws 1967� Chapter 499, section 1, Laws 1969� Chapter � 923, 3ectio� 1, Laws 1971� Chapter 321� 3ect�on 1� �nd Laws 8 1973, Chapter 395, Section 1, ia amended by adding a 9 subdivision to read� ' 10 Subd, 3. Notwithstandin9 anY contrary provisions , . ..�� .. 11 eontained in section 1 hereof, except as said section li�mits� 12 the doilar amount ot bondinq authorization, and in the�event . 13 there is not �irst available i� any annual increment period ' 14 under Title I ot the Federa`1 Housing Act of 1949, and acts � t8 amendatory thereof, sutficient urban renewal develo�ment - 16 capital grant money, then the city may issue bonds under the lI actR as necessarY in an amount not to exceed 610r000,000r �r - - - � �..�r�� -- iB tor the purpose of paYinq up tp th� entire project cost for 19 any urban renewal development project desi9nated under the ��I��M�� . 20 provisions ot section 1 . . � � � Z1 8ec. 6. Laas 1963, Chapter 881r 3ections 4 and 5, aa .._ ZZ edded by Laws 1973, Chapter 395, Section 2r are repealed, — —�. ______— Z3 Sec. 9. [EFFECTIYE pATE.] This act shall become 24 etfective only after tts approYal by a majority of the 25 9overnin9 body of tht City of Saint Paul� and upon � 26 eompliance with the provisions of Minnesota Statutea, Z7 3ection 645�021 , ' � , 6 -,.� , : ,.. t• • • • . ' �: . i -... ._ . _. _. �. . . . . . .. . . , > _ . t . • - • • .. • • . , . . . " ��t�61��.'� H.F.No. 1513 ,. r - Martin O. 5abo •Spaaker of the House of Repsescntativcs. • � ec G. Olson Psesident of tho Scnate. Passed the House of Representatives this 15th �y of May in the yeaz of Our Lord one thousand nine hundred and seventy-five • . _ _ _ Edward A. Burdick � . Chief Clerk,House ef Representatives. � Passed the Senate this 13th day of May in the year of Our Lord one thousand nine hundred and seventy-five � � ` Patrick E. Flahaven Secretary of the Senata Approvcd =jt,lnlE ,� 19'75 � /��E�r�;�� .0 • CC�s�a��— Wendell R. Anderson y ' Governor of the State of Minnesota. Filed � � 1975 . joan Anderson Growe Secretasy of State. 7 �