HomeMy WebLinkAbout1990.06.18 RESO 1990-0018k.
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF HUGO, MINNESOTA
HELD: June 18, 1990
Pursuant to due call and notice thereof, a special
meeting of the City Council of the City of Hugo, Minnesota was
duly called and held at the City Hall in said City on the 6th day
of June, 1990 at 7 o'clock P.M.
The following members were present:
George Atkinson, Mike McAllister, Tom Jesinski, Robert Olson, Deane Vail
and the following were absent: NONE
Member George Atkinson introduced the following
resolution and moved its adoption:
RESOLUTION AUTHORIZING THE WASHINGTON COUNTY
HOUSING AND REDEVELOPMENT AUTHORITY TO
UNDERTAKE A REDEVELOPMENT PROJECT WITHIN
THE CITY OF HUGO AUTHORIZING
THE EXECUTION AND DELIVERY OF A
QUITCLAIM DEED AND INSTALLMENT PURCHASE CONTRACT
AND APPROVING THE REDEVELOPMENT PROJECT
AND REDEVELOPMENT PLAN
The motion for the adoption of the foregoing resolution
was duly seconded by member Robert Olson , and upon vote being
taken thereon the following voted in favor thereof:
George Atkinson, Mike McAllister, Tom Jesinski, Robert Olson, Deane Vail
and the following voted against the same: NONE
whereupon said resolution was declared duly passed and adopted.
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RESOLUTION 1990-18
RESOLUTION AUTHORIZING THE WASHINGTON COUNTY
HOUSING AND REDEVELOPMENT AUTHORITY TO
UNDERTAKE A REDEVELOPMENT PROJECT WITHIN
THE CITY OF HUGO AUTHORIZING
THE EXECUTION AND DELIVERY OF A
QUITCLAIM DEED AND INSTALLMENT PURCHASE CONTRACT
AND APPROVING THE REDEVELOPMENT PROJECT
AND REDEVELOPMENT PLAN
WHEREAS, the Washington County Housing and
Redevelopment Authority (the "HRA") has transmitted a
Redevelopment Plan (the "Plan") and, by resolution, has applied
to the City Council, for approval of the Plan; and
WHEREAS, it is desireable and in the public interest
that the Authority undertake and carry out the Plan pursuant to
Minnesota Statutes, Section 469.001 to 469.047, and Sections
469.124 to 469.134, encompassing the area which is indicated in
the Plan which area is herein called the "Project Area"; and
WHEREAS, the City on the date hereof, after having
published a notice of public hearing in the official newspaper of
the City, conducted a public hearing on the Plan and received
public comments on the same.
NOW THEREFORE BE IT RESOLVED by the Council of the City
of Hugo, Minnesota (the "City"), as follows:
1. Authority. The City, pursuant to Minnesota
Statutes, Section 469.005, Subdivision 1, does hereby empower the
Washington County Housing and Redevelopment Authority (the "HRA")
to undertake a redevelopment project within boundaries of the
City. The project is described in the Redevelopment Plan which
has been submitted to the City Council for its approval after the
public hearing on June 18, 1990. The City is authorized pursuant
to Minnesota Statutes, Section 465.71, to enter into an install-
ment purchase contract with the Washington County Housing and
Redevelopment Authority, Minnesota (the "Authority"), a body
corporate and politic organized under the laws of the State of
Minnesota, to finance the costs of acquisition of park land in
the City (the "Project").
.2. Authorization of Bonds: Documents Presented. The
Authority proposes to issue its $245,000 Public Project Revenue
Bonds, Series 1990 (City of Hugo Installment Contract
Obligations) (the "Bonds") payable from installment payments to
be made under the Contract. Forms of the following documents
relating to the Bonds and the Project have been submitted to the
City Council and are now on file in the office of the Clerk -
Treasurer:
(a) a Quit Claim Deed dated as of the date of
delivery (the "Quit Claim Deed") to be executed by the
City pursuant to which the City will transfer the
premises on which the Project to the Authority;
(b) an Installment Purchase Contract dated as of
June 1, 1990 (the "Contract"), between the Authority
and the City which, among other things, provides for
the acquisition of the Project and pursuant to which
the City is required to pay installment payments
sufficient to pay the principal and interest on the
Bonds when due; and
(c) a Trust Indenture dated as of June 1, 1990
(the "Indenture") between the Authority and American
National Bank and Trust Company as Trustee, setting
forth the form and details of the Bonds and their
issuance, and pledging the installment payments derived
from the Contract to the payment of the Bonds.
3. Approval and Execution of Quit Claim Deed and
Installment Purchase Contract. The Mayor and the Clerk -Treasurer
are hereby authorized and directed to execute, and deliver the
Quit Claim Deed and Contract in substantially the forms on file
with the Clerk -Treasurer. All of the provisions of the Quit
Claim Deed and Contract when executed and delivered as authorized
herein shall be deemed to be a part of this resolution as fully
and to the same extent as if incorporated herein and shall be in
full force and effect from the date of execution and delivery
thereof.
4. Approval of Indenture. The City hereby approves
the form of the Indenture and the terms of the Bonds described
therein. The Bonds shall not be delivered to the purchaser until
the City holds the public hearing on June 18, 1990 and thereafter
approves the Redevelopment Project and the Redevelopment Plan.
5. Authorized City Representative. The City
Administrator is hereby designated and authorized to act on
behalf of the City as the Authorized City Representative, as
defined in the Contract.
6. Furnishing of Certificates and Proceedings. The
Mayor and Clerk -Treasurer and other officers of the City are
authorized and directed to prepare and furnish to the Purchaser
and Bond Counsel, certified copies of all proceedings and records
of the City relating to the Bonds, and such other affidavits and
certificates as may be required to show the facts relating to the
legality of the Bonds as such facts appear from the books and
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records in the officers' custody and control or as otherwise
known to them; and all such certified copies, certificates and
affidavits, including any heretofore furnished, shall constitute
representations of the City as to the truth of all statements
contained therein.
7. Project Covenants. The City hereby covenants not
to use the proceeds of the Bonds or to use the Project, or to
cause or permit them to be used, or to enter into any deferred
payment arrangements for the cost of the Project, in such a
manner as to cause the Bonds to be "private activity bonds"
within the meaning of Sections 103 and 141 through 150 of the
Code.
8. Modifications to Documents. The approval hereby
given to the various documents referred to above includes
approval of such additional details therein as may be necessary
and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and
appropriate and approved by the City Attorney and the City
officials authorized herein to execute said documents. Said City
officials are hereby authorized to approve said changes on behalf
of the City. The execution of any instrument by the appropriate
officer or officers of the City herein authorized shall be
conclusive evidence of the approval of such documents in
accordance with the terms hereof. In the absence of the Mayor or
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Clerk -Treasurer, any of the documents authorized by this
resolution to be executed may be executed by the Acting Mayor or
the Acting Clerk -Treasurer respectively.
9. Redevelopment Plan. That the area described as the
Project Area in the Plan is a Redevelopment Project within the
meaning of Minnesota Statutes, Section 469.002, Subd. 14. The
Plan and project described in the Plan will carry out the purpose
and policy of Minnesota Statutes, Chapter 469. The land in the
Project Area would not be made available for redevelopment
without the financial aid to be sought. The Redevelopment Plan
for the Project Area will afford maximum opportunity, consistent
with sound needs of the City as a whole, for the redevelopment of
such area by private enterprise. It is hereby found and
determined that the Redevelopment Plan for the Project Area
conforms to the general plan for the development of the City as a
whole. The City Council of the City of Hugo, Minnesota, does
hereby approve the Plan.
Attest:
F4071
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