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97-303����� � ���� ��a��;u'? .�..c.;�" �V�l-1en 2 � {��1 ��. �-�-�� ��� .�� = ___ Presented By xeferred 2'0 RESOLUTION council File # `� d � �� , Green Sheet # / �(Y / ESOTA Committee: Date JOINT ISSUANCE BY THE CITY OF MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, NIINNESOTA OF $20,335,000 SINGLE FANIILY MORTGAGE REVENUE VARIABLE RATE REFUNDING BONDS (FHL,MC AND GNiVIA MORTGAGE-BACKED SECURITIES PROGRAM- SAINT PAUL NIIDDLE INCOME PROGRAM, PHASE III), SERIES 1947 AND THE EXECUTION AND DELIVERY OF DOCUMENTS IN CONNECTION THEREWITI� 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 WI�REAS, the City of Minneapolis (Minneapolis) and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the HRA, and together with Minneapolis, the Issuers) haue previously issued their Single Fasnily Mortgage Revenue Refunding Bonds (FNMA and GNIVIA Mortgage-Backed Securities Program - Home Ownership Program, Phase II), Series 1996A and Series 1996B (together, the Przor Bonds) to refund certain other bonds and thereby make available moneys to make below market interest rate mortgage loan financing primarily to persons of low or moderate income purchasing singie family homes to be used as their principal places of residence and which are located within the geographic limits of the City of Saint Paul (the City) or the City of Minneapolis; and WIIEREAS, Minnesota Statutes, Chapter 462C (the HousingAct) and Section 471.59, and that certain Joint Powers Agreement, as amended from time to time (the JPA), by and between the Minneapolis Community Development Agency (the MCDA), the HIZA, Minneapolis and the City, authorize the Issuers to jointly issue single family mortgage revenue bonds and refunding bonds with the approval of the MCDA and Saint Paul; and WI�REAS, the entire principal amount of the Prior Bonds is now outstanding; and WFIEREAS, in order to fmance the FII2A's Middle Income Program - Phase III, the HRA has proposed that the Issuers issue their $20,335,000 Single Family Mortgage Revenue Variable Rate Refunding Bonds (FHLMC and GNMA Mortgage-Backed Securities Program - Saint Paul Middle Income Program - Phase III), Series 1997 (the Refurzding Bonds) pursuant to the Housing Act and a Trust Indenture dated as of Aprill, 1447 (the Refunding Iredenfiure) by and between the Issuers and the Trustee named therein (the Trustee) in the aggregate principai amount not to exceed $20,335,000, and use proceeds thereof exclusively to refund appm�mately one-half of each series of the Prior Bonds; and WI-IEREAS, the Refunding Bonds are to be secured by a pledge of certain moneys, mortgage-backed secwities and other assets in accordance with the terms of the Refunding Indenture, and the principal, premium, if any, and interest on the Refunding Bonds shall be payable solely from such pledged revenues and assets; and WIIEREAS, the Refunding Sonds shall be special limited obligations of the Issuers. Neither the Issuers, the MCDA, the City, the State of Minnesota nor any political subdivision of the State of Minnesota shall be liable on the March 26, 1997 Sain[ Paui Resolution 15o810S 9� �3 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 bl 62 63 64 65 66 Refunding Bonds except from the trust estate pledged to the payment thereof by the Refunding Indenture, and the Refunding Bonds shall not be a debt of the Issuers, the MCDA, the City, the State of Minnesota or any political subdivision thereof within the meaning of any consfitutional or statutory debt Innitation, nor shall the Refunding Bonds give rise to a chazge against the general credit or taxing power of the Issuers, the MCDA, the City, the State of Mlnnesota or any political subdivision of the State of Minnesota, nor shall the Refunding Bonds be payable out of any funds or properties of the Tssuers, other than those provided as security by the Refunding Indenture; and NOW, Tf�REFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota: 1. The issuance of the Refunding Bonds by the Issuers in the form and on the terms determined by the Issuers is hereby approved for all purposes. 2, The Mayor, Director, Office of Financial Services and City Clerk (the Authorized Officers) and other o�cers of the City aze authorized and directed to prepaze and fiunish when the Refunding Bonds aze issued, certified copies of all proceedings and records of the City relating to the Refunding Bonds and such other affidavits and certificates (including but not limited to those required by bond counsel} as may be required to show the facts relating to the legality, continuing tas exemption and mazketabiliry of the Refunding Bonds as such facts appear from the books and records in said officer's custody and control or as othenuise known to them; and all such certified copies, certificates and �da�its, including any heretofore fumished, shall consritute representations of the City as to the huth of all statements made on behalf of the City and contained therein. The Authorized Officers and said other officers aze further authorized to execute such additional documents as shall be determined to be necessary and desirable to provide for the issuance of the Refunding Bonds and the transactions related thereto, in forms approved by the Mayor. 3. In the event any of the Authorized OfFicers under this resolution shall for any reason be unable to authorized to execute documents on behalf of the City, any member of the City Council, or any other officer of the City, is hereby directed and authorized to do so on behalf of the City, with the same effect as if executed by an Authorized Officer. Adopted by Council: Date`(`(� a,L Adoption Certified by Council Secretary By: Approved by Mayor: te � /��7' BY= � � Requested by Department of: � - � � irrf/�/�S' ='-'�_ . � � ` '� �� . = �._✓ f/...���*►- _ �, Approved by yor for Submission to Council $Y = — ���l� March 26, 1997 Saint Paul Resolution 1508908 9� ��� iln�4fi DEPAHiMQl7ADFFICECOUNCIL DATE INITIATED � v.. v� PED os ll 97 GREEN SHEET CONTACTPFASON&PHONE �NRI ATE INfT1AVDATE �DEPARTMENTDIP. �CRYCOUNCIL Rat Lindblad 266-6614 "�'�" �CRYATfORNEY OCRI'CLERK MUSTBE ON COUNCIL AGENDA BY (DATE) NUYBER FOA O BUDGET DIREGT O FIN. & MGT. SEFiVICES DIR. BOUTING 03 26 97 �A�p ���OR(ORASSISTAN'n �/�ary Peltie TOTAL # OF SIGNATURE PAGES 1 (CLIP ALL LOCATIONS FOR SIGNATURE) om eyer ,.� ACTION REQUESTEO: Approval of issuance.of $20,335,000 million of Single Family mortgage revenue bonds to finance the third phase of Saint Paul's Niiddle Incose Progra.m. pEC06tMENDAnONS: Apprave (A) ar Aeject (R) pERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING �UESTIONS: __ PLqNNINC� CAMMISSION _ CIVIL SERVICE COMMISSION �� Has this persoMirm ever worketl untler a contrect for this department? _ _ CIB COMMITTEE _ YES NO _ STAPF _ 2. Has this person/firm ever been a ciry employee? YES NO _ �ISTRIGiCOUaT — 3. Does this person/firm possess a skill not nortnally possessed by any curtent ciry employee? SUPPOFTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate sheet and atteeh to graen sheet INITIATING PROBLEM, ISSUE, OPPOfiTUNITV (Who. What, Whan, Where, Why)� Phase II of the Middle Income Program is running out of funds. Last year the City/HRA refunded an earlier phase of the joint Minneapolis/St. Paul single family program in order to be able to fund this new program. ADVANTAGES IF APPFOVED� Attractive first mortgage financing available to middle income home buyers to purchase homes in Saint Paul. DiSADVANTAGES IF APPROVED: �3i"68�O9�w v9v�,.,�`�� �&3E�i?:3:z�� ^^. � ¢d � �':�:n`; i,LS'1f}'1 DISADVANTACaES IF NOT APPROVED: Middle Income Program will be discontinued. TOTALAMOUNTOFTRANSAC710N $ ZO t8X eX2mpt COS7/REVENUEBUDGE7ED(CIFiCLEONE) YES NO / L � as / A ( � ,, � j �I FUNDIfdG SOURCE �� �-�*A< � A�t— TT �T� ACTNITY NUMBER ( v/ � FINANCIAL INFORFnATION: (EXPLAIN) � /�.� ����� � ���� ��a��;u'? .�..c.;�" �V�l-1en 2 � {��1 ��. �-�-�� ��� .�� = ___ Presented By xeferred 2'0 RESOLUTION council File # `� d � �� , Green Sheet # / �(Y / ESOTA Committee: Date JOINT ISSUANCE BY THE CITY OF MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, NIINNESOTA OF $20,335,000 SINGLE FANIILY MORTGAGE REVENUE VARIABLE RATE REFUNDING BONDS (FHL,MC AND GNiVIA MORTGAGE-BACKED SECURITIES PROGRAM- SAINT PAUL NIIDDLE INCOME PROGRAM, PHASE III), SERIES 1947 AND THE EXECUTION AND DELIVERY OF DOCUMENTS IN CONNECTION THEREWITI� 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 WI�REAS, the City of Minneapolis (Minneapolis) and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the HRA, and together with Minneapolis, the Issuers) haue previously issued their Single Fasnily Mortgage Revenue Refunding Bonds (FNMA and GNIVIA Mortgage-Backed Securities Program - Home Ownership Program, Phase II), Series 1996A and Series 1996B (together, the Przor Bonds) to refund certain other bonds and thereby make available moneys to make below market interest rate mortgage loan financing primarily to persons of low or moderate income purchasing singie family homes to be used as their principal places of residence and which are located within the geographic limits of the City of Saint Paul (the City) or the City of Minneapolis; and WIIEREAS, Minnesota Statutes, Chapter 462C (the HousingAct) and Section 471.59, and that certain Joint Powers Agreement, as amended from time to time (the JPA), by and between the Minneapolis Community Development Agency (the MCDA), the HIZA, Minneapolis and the City, authorize the Issuers to jointly issue single family mortgage revenue bonds and refunding bonds with the approval of the MCDA and Saint Paul; and WI�REAS, the entire principal amount of the Prior Bonds is now outstanding; and WFIEREAS, in order to fmance the FII2A's Middle Income Program - Phase III, the HRA has proposed that the Issuers issue their $20,335,000 Single Family Mortgage Revenue Variable Rate Refunding Bonds (FHLMC and GNMA Mortgage-Backed Securities Program - Saint Paul Middle Income Program - Phase III), Series 1997 (the Refurzding Bonds) pursuant to the Housing Act and a Trust Indenture dated as of Aprill, 1447 (the Refunding Iredenfiure) by and between the Issuers and the Trustee named therein (the Trustee) in the aggregate principai amount not to exceed $20,335,000, and use proceeds thereof exclusively to refund appm�mately one-half of each series of the Prior Bonds; and WI-IEREAS, the Refunding Bonds are to be secured by a pledge of certain moneys, mortgage-backed secwities and other assets in accordance with the terms of the Refunding Indenture, and the principal, premium, if any, and interest on the Refunding Bonds shall be payable solely from such pledged revenues and assets; and WIIEREAS, the Refunding Sonds shall be special limited obligations of the Issuers. Neither the Issuers, the MCDA, the City, the State of Minnesota nor any political subdivision of the State of Minnesota shall be liable on the March 26, 1997 Sain[ Paui Resolution 15o810S 9� �3 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 bl 62 63 64 65 66 Refunding Bonds except from the trust estate pledged to the payment thereof by the Refunding Indenture, and the Refunding Bonds shall not be a debt of the Issuers, the MCDA, the City, the State of Minnesota or any political subdivision thereof within the meaning of any consfitutional or statutory debt Innitation, nor shall the Refunding Bonds give rise to a chazge against the general credit or taxing power of the Issuers, the MCDA, the City, the State of Mlnnesota or any political subdivision of the State of Minnesota, nor shall the Refunding Bonds be payable out of any funds or properties of the Tssuers, other than those provided as security by the Refunding Indenture; and NOW, Tf�REFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota: 1. The issuance of the Refunding Bonds by the Issuers in the form and on the terms determined by the Issuers is hereby approved for all purposes. 2, The Mayor, Director, Office of Financial Services and City Clerk (the Authorized Officers) and other o�cers of the City aze authorized and directed to prepaze and fiunish when the Refunding Bonds aze issued, certified copies of all proceedings and records of the City relating to the Refunding Bonds and such other affidavits and certificates (including but not limited to those required by bond counsel} as may be required to show the facts relating to the legality, continuing tas exemption and mazketabiliry of the Refunding Bonds as such facts appear from the books and records in said officer's custody and control or as othenuise known to them; and all such certified copies, certificates and �da�its, including any heretofore fumished, shall consritute representations of the City as to the huth of all statements made on behalf of the City and contained therein. The Authorized Officers and said other officers aze further authorized to execute such additional documents as shall be determined to be necessary and desirable to provide for the issuance of the Refunding Bonds and the transactions related thereto, in forms approved by the Mayor. 3. In the event any of the Authorized OfFicers under this resolution shall for any reason be unable to authorized to execute documents on behalf of the City, any member of the City Council, or any other officer of the City, is hereby directed and authorized to do so on behalf of the City, with the same effect as if executed by an Authorized Officer. Adopted by Council: Date`(`(� a,L Adoption Certified by Council Secretary By: Approved by Mayor: te � /��7' BY= � � Requested by Department of: � - � � irrf/�/�S' ='-'�_ . � � ` '� �� . = �._✓ f/...���*►- _ �, Approved by yor for Submission to Council $Y = — ���l� March 26, 1997 Saint Paul Resolution 1508908 9� ��� iln�4fi DEPAHiMQl7ADFFICECOUNCIL DATE INITIATED � v.. v� PED os ll 97 GREEN SHEET CONTACTPFASON&PHONE �NRI ATE INfT1AVDATE �DEPARTMENTDIP. �CRYCOUNCIL Rat Lindblad 266-6614 "�'�" �CRYATfORNEY OCRI'CLERK MUSTBE ON COUNCIL AGENDA BY (DATE) NUYBER FOA O BUDGET DIREGT O FIN. & MGT. SEFiVICES DIR. BOUTING 03 26 97 �A�p ���OR(ORASSISTAN'n �/�ary Peltie TOTAL # OF SIGNATURE PAGES 1 (CLIP ALL LOCATIONS FOR SIGNATURE) om eyer ,.� ACTION REQUESTEO: Approval of issuance.of $20,335,000 million of Single Family mortgage revenue bonds to finance the third phase of Saint Paul's Niiddle Incose Progra.m. pEC06tMENDAnONS: Apprave (A) ar Aeject (R) pERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING �UESTIONS: __ PLqNNINC� CAMMISSION _ CIVIL SERVICE COMMISSION �� Has this persoMirm ever worketl untler a contrect for this department? _ _ CIB COMMITTEE _ YES NO _ STAPF _ 2. Has this person/firm ever been a ciry employee? YES NO _ �ISTRIGiCOUaT — 3. Does this person/firm possess a skill not nortnally possessed by any curtent ciry employee? SUPPOFTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate sheet and atteeh to graen sheet INITIATING PROBLEM, ISSUE, OPPOfiTUNITV (Who. What, Whan, Where, Why)� Phase II of the Middle Income Program is running out of funds. Last year the City/HRA refunded an earlier phase of the joint Minneapolis/St. Paul single family program in order to be able to fund this new program. ADVANTAGES IF APPFOVED� Attractive first mortgage financing available to middle income home buyers to purchase homes in Saint Paul. DiSADVANTAGES IF APPROVED: �3i"68�O9�w v9v�,.,�`�� �&3E�i?:3:z�� ^^. � ¢d � �':�:n`; i,LS'1f}'1 DISADVANTACaES IF NOT APPROVED: Middle Income Program will be discontinued. TOTALAMOUNTOFTRANSAC710N $ ZO t8X eX2mpt COS7/REVENUEBUDGE7ED(CIFiCLEONE) YES NO / L � as / A ( � ,, � j �I FUNDIfdG SOURCE �� �-�*A< � A�t— TT �T� ACTNITY NUMBER ( v/ � FINANCIAL INFORFnATION: (EXPLAIN) � /�.� ����� � ���� ��a��;u'? .�..c.;�" �V�l-1en 2 � {��1 ��. �-�-�� ��� .�� = ___ Presented By xeferred 2'0 RESOLUTION council File # `� d � �� , Green Sheet # / �(Y / ESOTA Committee: Date JOINT ISSUANCE BY THE CITY OF MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, NIINNESOTA OF $20,335,000 SINGLE FANIILY MORTGAGE REVENUE VARIABLE RATE REFUNDING BONDS (FHL,MC AND GNiVIA MORTGAGE-BACKED SECURITIES PROGRAM- SAINT PAUL NIIDDLE INCOME PROGRAM, PHASE III), SERIES 1947 AND THE EXECUTION AND DELIVERY OF DOCUMENTS IN CONNECTION THEREWITI� 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 WI�REAS, the City of Minneapolis (Minneapolis) and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the HRA, and together with Minneapolis, the Issuers) haue previously issued their Single Fasnily Mortgage Revenue Refunding Bonds (FNMA and GNIVIA Mortgage-Backed Securities Program - Home Ownership Program, Phase II), Series 1996A and Series 1996B (together, the Przor Bonds) to refund certain other bonds and thereby make available moneys to make below market interest rate mortgage loan financing primarily to persons of low or moderate income purchasing singie family homes to be used as their principal places of residence and which are located within the geographic limits of the City of Saint Paul (the City) or the City of Minneapolis; and WIIEREAS, Minnesota Statutes, Chapter 462C (the HousingAct) and Section 471.59, and that certain Joint Powers Agreement, as amended from time to time (the JPA), by and between the Minneapolis Community Development Agency (the MCDA), the HIZA, Minneapolis and the City, authorize the Issuers to jointly issue single family mortgage revenue bonds and refunding bonds with the approval of the MCDA and Saint Paul; and WI�REAS, the entire principal amount of the Prior Bonds is now outstanding; and WFIEREAS, in order to fmance the FII2A's Middle Income Program - Phase III, the HRA has proposed that the Issuers issue their $20,335,000 Single Family Mortgage Revenue Variable Rate Refunding Bonds (FHLMC and GNMA Mortgage-Backed Securities Program - Saint Paul Middle Income Program - Phase III), Series 1997 (the Refurzding Bonds) pursuant to the Housing Act and a Trust Indenture dated as of Aprill, 1447 (the Refunding Iredenfiure) by and between the Issuers and the Trustee named therein (the Trustee) in the aggregate principai amount not to exceed $20,335,000, and use proceeds thereof exclusively to refund appm�mately one-half of each series of the Prior Bonds; and WI-IEREAS, the Refunding Bonds are to be secured by a pledge of certain moneys, mortgage-backed secwities and other assets in accordance with the terms of the Refunding Indenture, and the principal, premium, if any, and interest on the Refunding Bonds shall be payable solely from such pledged revenues and assets; and WIIEREAS, the Refunding Sonds shall be special limited obligations of the Issuers. Neither the Issuers, the MCDA, the City, the State of Minnesota nor any political subdivision of the State of Minnesota shall be liable on the March 26, 1997 Sain[ Paui Resolution 15o810S 9� �3 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 bl 62 63 64 65 66 Refunding Bonds except from the trust estate pledged to the payment thereof by the Refunding Indenture, and the Refunding Bonds shall not be a debt of the Issuers, the MCDA, the City, the State of Minnesota or any political subdivision thereof within the meaning of any consfitutional or statutory debt Innitation, nor shall the Refunding Bonds give rise to a chazge against the general credit or taxing power of the Issuers, the MCDA, the City, the State of Mlnnesota or any political subdivision of the State of Minnesota, nor shall the Refunding Bonds be payable out of any funds or properties of the Tssuers, other than those provided as security by the Refunding Indenture; and NOW, Tf�REFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota: 1. The issuance of the Refunding Bonds by the Issuers in the form and on the terms determined by the Issuers is hereby approved for all purposes. 2, The Mayor, Director, Office of Financial Services and City Clerk (the Authorized Officers) and other o�cers of the City aze authorized and directed to prepaze and fiunish when the Refunding Bonds aze issued, certified copies of all proceedings and records of the City relating to the Refunding Bonds and such other affidavits and certificates (including but not limited to those required by bond counsel} as may be required to show the facts relating to the legality, continuing tas exemption and mazketabiliry of the Refunding Bonds as such facts appear from the books and records in said officer's custody and control or as othenuise known to them; and all such certified copies, certificates and �da�its, including any heretofore fumished, shall consritute representations of the City as to the huth of all statements made on behalf of the City and contained therein. The Authorized Officers and said other officers aze further authorized to execute such additional documents as shall be determined to be necessary and desirable to provide for the issuance of the Refunding Bonds and the transactions related thereto, in forms approved by the Mayor. 3. In the event any of the Authorized OfFicers under this resolution shall for any reason be unable to authorized to execute documents on behalf of the City, any member of the City Council, or any other officer of the City, is hereby directed and authorized to do so on behalf of the City, with the same effect as if executed by an Authorized Officer. Adopted by Council: Date`(`(� a,L Adoption Certified by Council Secretary By: Approved by Mayor: te � /��7' BY= � � Requested by Department of: � - � � irrf/�/�S' ='-'�_ . � � ` '� �� . = �._✓ f/...���*►- _ �, Approved by yor for Submission to Council $Y = — ���l� March 26, 1997 Saint Paul Resolution 1508908 9� ��� iln�4fi DEPAHiMQl7ADFFICECOUNCIL DATE INITIATED � v.. v� PED os ll 97 GREEN SHEET CONTACTPFASON&PHONE �NRI ATE INfT1AVDATE �DEPARTMENTDIP. �CRYCOUNCIL Rat Lindblad 266-6614 "�'�" �CRYATfORNEY OCRI'CLERK MUSTBE ON COUNCIL AGENDA BY (DATE) NUYBER FOA O BUDGET DIREGT O FIN. & MGT. SEFiVICES DIR. BOUTING 03 26 97 �A�p ���OR(ORASSISTAN'n �/�ary Peltie TOTAL # OF SIGNATURE PAGES 1 (CLIP ALL LOCATIONS FOR SIGNATURE) om eyer ,.� ACTION REQUESTEO: Approval of issuance.of $20,335,000 million of Single Family mortgage revenue bonds to finance the third phase of Saint Paul's Niiddle Incose Progra.m. pEC06tMENDAnONS: Apprave (A) ar Aeject (R) pERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING �UESTIONS: __ PLqNNINC� CAMMISSION _ CIVIL SERVICE COMMISSION �� Has this persoMirm ever worketl untler a contrect for this department? _ _ CIB COMMITTEE _ YES NO _ STAPF _ 2. Has this person/firm ever been a ciry employee? YES NO _ �ISTRIGiCOUaT — 3. Does this person/firm possess a skill not nortnally possessed by any curtent ciry employee? SUPPOFTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate sheet and atteeh to graen sheet INITIATING PROBLEM, ISSUE, OPPOfiTUNITV (Who. What, Whan, Where, Why)� Phase II of the Middle Income Program is running out of funds. Last year the City/HRA refunded an earlier phase of the joint Minneapolis/St. Paul single family program in order to be able to fund this new program. ADVANTAGES IF APPFOVED� Attractive first mortgage financing available to middle income home buyers to purchase homes in Saint Paul. DiSADVANTAGES IF APPROVED: �3i"68�O9�w v9v�,.,�`�� �&3E�i?:3:z�� ^^. � ¢d � �':�:n`; i,LS'1f}'1 DISADVANTACaES IF NOT APPROVED: Middle Income Program will be discontinued. TOTALAMOUNTOFTRANSAC710N $ ZO t8X eX2mpt COS7/REVENUEBUDGE7ED(CIFiCLEONE) YES NO / L � as / A ( � ,, � j �I FUNDIfdG SOURCE �� �-�*A< � A�t— TT �T� ACTNITY NUMBER ( v/ � FINANCIAL INFORFnATION: (EXPLAIN) � /�.�