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V -0 <br />RESOLUTION 1990-12 <br />A RESOLUTION AUTHORIZING A JOINT POWERS AGREEMENT. <br />THIS JOINT POWERS AGREEMENT (thee "Agreement") is made and entered into <br />by and between the City of Hugo, Minnesota (the "City"), a Plan A <br />statutory City, duly organized and existing under the laws and <br />constitution of the State of Minnesota, and the Washington County Housing <br />and Redevelopment Authority (the "Authority"), a public body corporate and <br />politic under the laws and constitution of the State of Minnesota. <br />RECITALS <br />WHEREAS, the Washington County Housing and Redevelopment Authority was <br />created pursuant to Laws of Minnesota 1974, Chapter 475 (the "Special <br />Law"); and <br />WHEREAS, under the Special Law, the Authority was granted all of the <br />powers and duties of a housing and redevelopment authority under the <br />provisions of the municipal housing and redevelopment act, Minnesota <br />Statutes, Sections 462.411 to 462.711 (the "Act"), and acts amendatory <br />thereof; and <br />WHEREAS, The Special Lew provides that the Authority may not exercise <br />jurisdiction in any municipality where a municipal housing and <br />redevelopment authority is established and before the Authority undertakes <br />a project within the boundaries of any incorporated city, such project <br />shall be approved by the governing body of such city; and <br />WHEREAS, The City of Hugo is a Plan A statutory city under the laws of <br />the State of Minnesota and has no municipal housing and redevelopment <br />authority; and <br />WHEREAS, the Minnesota Municipal Industrial Development Act, Minnesota <br />Statutes, Chapter 474 (the "IDB Act") authorizes municipalities and <br />redevelopment agencies to issue industrial development revenue bonds to <br />finance projects, as defined therein, subject to the limitations contained <br />therein; and <br />WHEREAS, Section 474.02, subdivision 3 of the IDB Act defines the term <br />"redevelopment agency" to include any housing and redevelopment authority <br />referred to in Chapter 462 or any body authorized to exercise the powers <br />of a housing and redevelopment authority, such as the Authority; and <br />WHEREAS, pursuant to the IDB Act, obligations which are subject to <br />limitation under a "federal limitation act," as defined in Section 474.16, <br />subdivision 5 of the IDB Act, may not be issued by a "local issuer" until <br />such "local issuer" receives an allocation of the authority to issue such <br />obligations pursuant to Section 474.19 oftbe IDB Act; and <br />WHEREAS, Section 474.16, subdivision 2 of the IDB Act defines the term <br />"local issuer" to include any home rule charter of statutory city, such as <br />the City, and further includes any town, any housing and redevelopment <br />authority referred to in Chapter 462 and any body authorized to exercise <br />the powers of a housing and redevelopment authority, such as the <br />Authority; and <br />