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RESOLUTION 1990-18 <br />RESOLUTION AUTHORIZING THE WASHINGTON COUNTY <br />HOUSING AND REDEVELOPMENT AUTHORITY TO <br />UNDERTAKE A REDEVELOPMENT PROJECT WITHIN <br />THE CITY OF HUGO AUTHORIZING <br />THE EXECUTION AND DELIVERY OF A <br />QUITCLAIM DEED AND INSTALLMENT PURCHASE CONTRACT <br />AND APPROVING THE REDEVELOPMENT PROJECT <br />AND REDEVELOPMENT PLAN <br />WHEREAS, the Washington County Housing and <br />Redevelopment Authority (the "HRA") has transmitted a <br />Redevelopment Plan (the "Plan") and, by resolution, has applied <br />to the City Council, for approval of the Plan; and <br />WHEREAS, it is desireable and in the public interest <br />that the Authority undertake and carry out the Plan pursuant to <br />Minnesota Statutes, Section 469.001 to 469.047, and Sections <br />469.124 to 469.134, encompassing the area which is indicated in <br />the Plan which area is herein called the "Project Area"; and <br />WHEREAS, the City on the date hereof, after having <br />published a notice of public hearing in the official newspaper of <br />the City, conducted a public hearing on the Plan and received <br />public comments on the same. <br />NOW THEREFORE BE IT RESOLVED by the Council of the City <br />of Hugo, Minnesota (the "City"), as follows: <br />1. Authority. The City, pursuant to Minnesota <br />Statutes, Section 469.005, Subdivision 1, does hereby empower the <br />Washington County Housing and Redevelopment Authority (the "HRA") <br />to undertake a redevelopment project within boundaries of the <br />City. The project is described in the Redevelopment Plan which <br />has been submitted to the City Council for its approval after the <br />public hearing on June 18, 1990. The City is authorized pursuant <br />to Minnesota Statutes, Section 465.71, to enter into an install- <br />ment purchase contract with the Washington County Housing and <br />Redevelopment Authority, Minnesota (the "Authority"), a body <br />corporate and politic organized under the laws of the State of <br />Minnesota, to finance the costs of acquisition of park land in <br />the City (the "Project"). <br />.2. Authorization of Bonds: Documents Presented. The <br />Authority proposes to issue its $245,000 Public Project Revenue <br />Bonds, Series 1990 (City of Hugo Installment Contract <br />Obligations) (the "Bonds") payable from installment payments to <br />be made under the Contract. Forms of the following documents <br />relating to the Bonds and the Project have been submitted to the <br />City Council and are now on file in the office of the Clerk - <br />Treasurer: <br />