HomeMy WebLinkAbout85-015 RESOLUTION N0. 85- 17
• CITY OF LAKEVILLE, MINNESOTA
RESOLUTION APPROVING PARTICIPATION IN THE DAKOTA COUNTY
HOUSING AND REDEVELOPMENT AUTHORITY MULTIFAMILY
POOL PROGRAM AS DEFINED HEREIN
WHEREAS, pursuant to Minnesota Statutes, Chapter 462C, as amended (the "Act")
the City. of Lakeville (the "City") is authorized to issue revenue bonds to
finance multif amily residential rental facilities within the City and by oridi-
nance to authorize a housing and redevelopment authority in and for the City to
issue bonds on behalf of the City; and
WHEREAS, pursuant to the Laws of Minnesota for 1971, Chapter 333, as amended,
the Dakota County Housing and Redevelopment Authority (the. "Authority") has all
powers and duties. of a housing and redevelopment authority under the municipal
housing and redevelopment act, Minnesota Statutes, Sections 462.411 and. 462.711;
and
WHEREAS, the City has by Ordinance. No. 236 authorized the Authority to exercise
the powers of the City under the Act; and
[WHEREAS, the Housing and Redevelopment Authority in and for the City of
Lakeville, Minnesota (the "City HRA"} has by Resolution No. 83-2 requested the
Authority to handle the housing duties of the City HRA; and]
• WHEREAS, the Authority proposes to issue its multif amily housing revenue bonds
to finance various residential rental projects in various cities in Dakota
County, including the City (the "Multif amily Pool Program");
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville, as
follows:
That the City approves the participation of the City in the Multif amily Pool
Program undertaken by the Authority and authorizes the staff of the City to
cooperate with the Authority with respect to such participation, provided that
the City understands that the Authority will not issue housing revenue bonds
under the Multif amily Pool Program to finance projects in the City without the
prior approval of the City of any such multifamily residential rental project to
be financed and the prior approval by the City pursuant to the Act of a
financing program for any such multif amity residential rental project.
Dated this ath day of February, 1985.
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