HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 92-12HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF PLYMOUTH. MINNESOTA
RESOLUTION NO. 92-12
RESOLUTION ADOPTING A
FINANCING PROGRAM FOR THE ISSUANCE OF BONDS OR MOTES
FOR THE ACQUISITION AND OONSTRUCTION OF A
MULTIFAMILY RENTAL HOUSING FACILITY FOR ELDERLY PERSONS
WHEREAS. pursuant to Minnesota Statutes. Sections 469.001 to 469.047 (the
Act"), the Housing and Redevelopment Authority 1.n and for the City of
Plymouth, Minnesota (the "Authority") is authorized to undertake housing
development projects for financing, acquisition and construction of
multifamily rental housing which is affordable to elderly persons and personsandfamiliesofmoderateincomeintheCityofPlymouth. following adoption of
a housing plan and a bond financing program pursuant to Minnesota Statutes,
Chapter 462C; and
WHEREAS. the City of Plymouth (the "City") has in effect a housing plan
the "Plan") meeting the requirements of Minnesota Statutes, Section 462C.03,
has r1Subd. etle and
in the manner provided in
MinnesotaStatutes, Section462C04
WHEREAS. the Authority proposes to issue bonds or notes, in an amount
presently estimated -not to exceed $7,000,000 to finance the acquisition andconstructionofamultifamilyrentalhousingdevelopmentprojectcontaining
therPlymouthyarea (the
units
Projectto ")
atoabeolocatedhinsthe
Citye1andly
persons in
WHEREAS. Minnesota Statutes, Section 469.0171'and Section 462C.05 require
adoption of a bond financing program after a public hearing held thereon after
publication of
leasttice
in
fifteen dayssin
inaper
of
ofral thecn
the City of
hearing;.and
WHEREAS. Minnesota Statutes, Section 469..0171 and Section 462C.0require
the preparation of a bond financing program (the "Program"), a copy of
is on file in the offices of the Authority; and
WHEREAS. the Authority has conducted a public hearing on the Program on
the date hereof;
NOW. THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THEHOUSINGANDREDEVELOPMENTAUTHORITYINANDFORTHECITYOFPLYMOUTHTHAT:
1. The Program in the form now on file in the offices of the Authority
is hereby adopted. with such additions, changes, or modifications as the
Executive Director may approve.
2. The Executive Director of the Authority. or his designee. is hereby
authorized and directed to submit the Program to the Minnesota Housing Financetatutes. Section 469.0171 and Chapter 462C. andAgencypursuanttoMinnesotaStodoallotherthingsandtakeallotheractionsasmaybenecessaryorappropriatetocarryoutthePrograminaccordancetherewithandwithany
other applicable laws and regulations:
Adopted this 15th day of December. 1992.
Secretary
0303k
M
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE
CITY OF PLYMOUTH
Chair