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243092 ORI61Q1'AL TO CITY CL6RK CI I I OF ST. PAUL COUNCIL 2430�/G� � OFFICE O THE CITY CLERK F�`E Na. COUNC S T N E RAL FORM PRESENTED BY \ COMMISSIONE DATF RESOLVED� That the Gouncil of the City of Saint Paul hereby approves : "A bill for an act relating to '�he city of Saint Paul ; amending Laws i967, Chapter 499, Section 1, providing for and authorizing said city to issue its general obligation bonds for urban renewal redevelopment purposes . " and recommends the same to the Ramsey County Senate and House delegations . ORM AP . co�aa�► Ado ted b APR 1 0 1969 COUNCILMEN p y the Councii 19_ Yeas Nays Carlson ppR 10 1969 L�� Approved 19�_ Meredith �' ^ —.,r—In Favor pn�o+.�..n J Sprafka ��t��Mayor A gainst Tedeaco �=��,,��a�....:::; 'PU�LI�HE, APR 12 196� D:r. Vice President �� 21 Wabasha Street, Saint Paul, Minnesota 551 02. Edward N.Helfeld,executive director.phone 223 5218 � " _ � . � � . . ,, � �� HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA Honorable Mayor and City Council April 7, 1969 c/o City Clerk Room 386 City Hall and Court House Saint Paul, Minnesota 55102 Re: Proposed Legislation Providing for and Authorizing the City of Saint Paul to Issue General Obligation Bonds for Urban Renewal Redevelopment Purposes' Gentlemen: The Authority respectfully requests Council consideration and endorsement of proposed legislation which would permit the City to issue urban renewal bonds heretofore author- ized under Chapter 499, La.ws 1967, in approved urban renewal projects other than Down- town, Cathedral, Riverview, Concord Terrace and Su�it-University. You will recall that the total amount suthorized under Chapter 499 was $19,400,000.00, and the proposed bill would limit the amount to be used in Neighborhood Development Project areas other than those designated redevelopment projects in an am�unt not to exceed 10 percent of the total authorization. The Authority feels that this would give the City and A,uthority greater flexibility in providing the local share under the Neighborhood Development Program. The Authority requests that the Council adopt this bill as a City bill for presentation to the Ramsey County Legislative Delegation. Yours very truly, C�,�,,,,w� � Edward N. Helfeld Executive Director Enclosure Lawrence J. Hayes, Harry P. Strong, Jr., Orville E. Anderson, Henry R. Thomas, Kenneth J. Lynch, James J. Dalglish, Victor J. Tedesco cn3��,ma� , .. . . ,�' � .� A BILL FOR AN ACT , RELATING TO THE CITY OF SAINT PAUL; AMENDING LAIJS 1967, CHAPTER 499, � SECTION l, PROVIDING FOR AND AU�iORIZING SAID CYTY TO ISSUE ITS GEIV�RAL OBLIGATION BO,YDS FOR URBAN RENEWAL REDEVELOP►ti1ENT PURPOSES BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Laws of 1967, Chaprer 499, Section 1 is hers�y �Pnded to read: � Section I. The City of Saint Paul may issue its general obligation . bonds for the purpose of and in the amounts necessary for paying not to exceed one third of the net project cost of each of the urban renewal � development projects heretofore designated by the-housing and redevelopment suthority of the city of Saint Paul as the D'owntown, Cathedral, Riverview, � Concord Terrace, and Summit-University projects, and for paying any remaining � costs of municipal buiZdings and improvements to be constructed within or adjacent to the project area. The net project cost referred to in this act �� .,. !s the public redevelopment cost of the project less its capital proceeds, as those terms are defined in Minnesota Statutes, Section 4 62.545, and as *_?�e arsounts thereof ar� estimate3 by t'r►e city council prior to the delivery of each series of bonds. The total amount of bonds authorized herein snall I be Iimited to $19,400,000. ' Section 2. The citv of Saiat Pau1 iray issue a part of the Qeneral . DUPLIGATE TO PRINTER ��o�� CITY OF ST. PAUL COUNCIL NO. � OFFICE OF THE CITY CLERK F�`E COUNCIL RESOLUTION-GENERAL FORM PRESENTED BY COMMISSIONER �ATF RLSOLV�D, That the Council oY the City of Saint Paul [iereby rzpproves : �'�'a bill. for an aet relating to the city of ��int Paul; a�mending Laws 1967, Chapter 499, Section 1, ��roviding for and authoriz�n�; eaid city to iasue its general obligation bonds �'or urban renewal redevelo�rnent purposes. " a�d r`.�U4ii.uexxc.�s ti�e s�.me to the Fi.amsey County �enate and House deleg�.tio�s. A;'�' _ .:�� S COUNCILMEN Adopted by the Council 19— Yeas Nays �,r :: "< , Carlson ..��_ % Approved 19—_ C,( Meredith Tn Favor �� r Q Mayor Sprafka Tedesco A gainst Mr. President, Byrne O