12-19-83 agenda0
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CITY OF RICHFIELD, MINNESOTA
Office of City Manager
Council Letter No. 426
Agenda December 19, 1983
The Honorable Mayor
and
Members of the City Council
City of Richfield
Council Members:
Subject: Tabulation of Bids, Minutes, and Award of
Contract for Richfield Lake
On December 14, 1983 bids for muck excavation and granular
fill at Richfield Lake were opened in accordance with legal re-
quirements. The director of administrative services (represent-
ing the city manager), the city clerk, director of community
services, other city staff members and representatives of bidding
firms were present. A copy of the bid minutes and tabulation is
attached for council review.
This contract provides for one component of the Richfield Lake
Project. The primary work to be done under the contract includes
creation of vistas or open water areas, the base matting for the
pathway system around the marsh, including the engineering fabric,
and some other preliminary earthwork. Other components of the
project which are to be undertaken later through other contracts
include the asphalt topping of the pathway, the improvements re-
lated to the neighborhood park, and some landscaping.
Fourteen bids were submitted. The apparent low bidder was
Julian M. Johnson Construction Corporation with a bid of $95,909.60.
In the staff review of the bids submitted there was an obvious
error on one of the line items when comparing the bid submitted
by Julian M. Johnson with the bids submitted by others. This was
confirmed in a letter submitted by Julian M. Johnson, a copy of
which is attached, which noted that contractor costs for grading
and snow removal were not included in the bid estimate. It is
recommended that the request for withdrawal of the bid be honored.
The second apparant low bidder was D. H. Blattner and Sons,
with a bid of $127,960. The bid has been checked for mathemati-
cal errors and none were noted. Although city staff has not
worked with D. H. Blattner on a city project, the staff is aware
of some of the work performed by this company which appears to
have been satisfactory. Some of the work related to the Richfield
Lake area, but not directly with the pathway, is the removal of
dead trees and doing some other tree /brush work such as trimming.
Council Letter No. 426 -2- December 19, 1983
• It appears at this time that it may be in the best interest of
the city to have the debris buried under the earth mounds created
by the dredging for the vistas. This is being pursued with D.H.
Blattner and Sons, and there is a possibility a change order to
this contract would be coming in the near future.
It is recommended that the city council take the following
action:
1. Approve the bid minutes and tabulation.
2. Accept the withdrawal of bid by Julian M. Johnson Con-
struction Corporation due to an obvious error.
3. Approve the attached resolution to award a contract for
muck excavation and granular fill to D. H. Blattner and
sons in the amount of $127,960.
JGC /ej a
0
Rpapectf ul�.ly,.,submitted,
John G. Cartwr4ght
City Manager
CITY OF RICHFIELD, MINNESOTA
Office of City Manager
Council Letter No. 425
Agenda December 19, 1983
The Honorable Mayor
and
Members of the City Council
City of Richfield
Council Members:
Subject: Richfield /Bloomington Joint Powers Agreement
Establishing a Water Management Organization
At the July 25, 1983 study session, the council discussed
the ramifications of the Metropolitan Storm Water Management Act.
The council directed the staff to negotiate a joint powers agree-
ment with the City of Bloomington to manage the storm water in
the southeast corner of Richfield. This area drains into Wilson
and Christian Ponds and is not presently a part of any water manage-
ment organization. In addition, the council directed the staff
to investigate the possibility of forming a joint powers agreement
with Minneapolis to manage the storm water which drains to Wood
Lake, Richfield Lake and Grass Lake.- The staff recommends that
the attached Richfield /Bloomington Joint Powers Agreement be
approved.
Attached to this council letter is the joint powers agreement
negotiated by the city staff. The principal elements of the agree-
ment are as follows:
1. The city councils of the two cities will act as the
management board for the water management organization.
Bloomington has a seven member council and Richfield
has a five member council; therefore, Bloomington has
seven votes and Richfield five. There are two reasons
for this disparity. First, Bloomington has a larger
area in the water management organization; second,
Bloomington is the "downstream community ".
2. A two - thirds vote is needed to approve operating budgets
and capital improvement projects (eight votes).
3. To the extent possible, each city will be responsible
for costs of capital improvements within its boundaries.
4. The organization staff support will be provided by the
existing city staffs.
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JOINT POWERS AGREEMENT
CITY OF BLOOMINGTON, MINNESOTA
CITY OF RICHFIELD, MINNESOTA
ESTABLISHING AND EMPOWERING
THE
RICHFIELD- BLOOMINGTON WATERSHED MANAGEMENT ORGANIZATION
THIS AGREEMENT is made and entered into this 19th day of
December 1983 by and between the CITY OF BLOOMINGTON ( "Bloom-
ington "), a municipal corporation and political subdivision of
the State of Minnesota, and the CITY OF RICHFIELD ( "Richfield "),
a municipal corporation and political subdivision of the State of
Minnesota.
WHEREAS, a portion of each City lies within the geo-
graphical area hereinafter referred to as the "Richfield- .
Bloomington Watershed ", which watershed is illustrated and des-
cribed on "EXHIBIT A ", attached hereto; and
WHEREAS, Minnesota Statutes § 473.875 to 473.883,
inclusive, require that there exist a watershed management organ -
ization which will perform some or all.of the functions of a
watershed district for the Richfield - Bloomington Watershed; and
WHEREAS, each City has the authority to. manage surface
waters within its boundaries pursuant to Minnesota Statutes
§`447.075, and § 462.357, Subd. 1; and
WHEREAS, each City may jointly exercise common
authority by adopting a joint powers agreement pursuant to Minn-
esota Statute 471.59; and
WHEREAS, by means of a joint powers agreement, the
cities may establish a water management organization pursuant to-
M.S.A. 473.875 to 473.883, inclusive; and
WHEREAS, each City is.desirous of jointly..creating a
watershed management organization which would fulfill the mandates
of Minnesota Statutes S 473.875 to 473.883, inclusive, with respect
to the Richfield- Bloomington Watershed and which would otherwise
manage the surface water within said watershed in order to achieve
various goals with respect to natural water runoff and retention.
NOW, THEREFORE, in consideration of the mutual under-
takings herein expressed, the City of Bloomington and the City cf
Richfield agree as follows:
SECTION I
ESTABLISHMENT OF WATER MANAGEMENT ORGANIZATION
The Richfield- Bloomington Watershed Management Organi-
zation is hereby established; the operation of the Organization
shall be subject to the terms and conditions of this Agreement.
SECTION II
PURPOSE
The purpose of this Agreement is to create a.Water-
shed Management Organization which would fulfill the mandates of
Minnesota Statutes S 473.875 to 473.883, inclusive, with respect
to the Richfield - Bloomington Watershed and.which would otherwise
manage natural water runoff and retention in order to achieve
the following goals:
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(a) Reduce to the greatest practical extent the
public capital expenditures necessary to control
excessive volumes and rates of runoff;
(b) improve water quality;
(c) prevent flooding and erosion from surface flows;
(d) promote groundwater recharge;
(e) protect and enhance fish and wildlife habitat and
water recreational facilities;.and
(f) secure the other benefits associated with the
proper management of- surface water within the Richfield-
Bloomington Watershed.
SECTION III
DEFINITIONS
• For purposes of this Agreement, the terms used herein
shall have the meanings as defined in this section.
Subdivision 1. The "Organization means the Richfield -
Bloomington Watershed Management Organization established by thi s
Agreement.
Subdivision 2. The "Board" or "Board of Commissioners"
means the governing body of the Organization.
Subdivision 3. "Council" means the governing body of
the 'City of Bloomington or the governing body of the City of
Richfield.
Subdivision 4. "Richfield- Bloomington Watershed" or
"Watershed" means the geographical area described and /or illus
trated on Exhibit "A" attached and made a part•of this Agreement.
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Subdivision 5. "Commissioner" the
means a member of
.
Board of Commissioners:
Subdivision 6. "Cities" means the cities of Richfield
and Bloomington.
SECTION IV
BOARD OF COMMISSIONERS
Subdivision 1. The Organization shall be governed by a
f Board of Commissioners - .composed of all the members of the City
Councils of Richfield and Bloomington.
Subdivision 2. Each Commissioner shall have one vote
with respect to Board actions.
Subdivision.3. Unless otherwise specified by this
Agreement, substantive Board action shall be by a majority vote
.
of the entire Board.
Subdivision 4. At its first organizational meeting,'
or within a reasonable time thereafter,. the Board shall adopt
bylaws not inconsistent with this Agreement concerning its pro-
cedures, meetings, and other appropriate matters affecting the
operation of the Organization, Such bylaws may be amended from
time to time in either a regular or special meeting of the Board
provided that notice of such proposed amendment has been given to
each Commissioner at least ten (10) days prior to the meeting at
which the proposed amendment will be considered. A.;two- thirds (2/3)
majority vote of the entire Board shall be necessary to adopt or
amend such bylaws.
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Subdivision
subject to the pri
Subdivision
and in January.of
its Commissioners
other officers as
and affairs.
Subdivision
5. All meetings of the Board shall be
Dvisions of the Minnesota Open Meeting Law.
6. At the organizational meeting of the Board
each year thereafter the Board shall elect from
a chairman, a secretary.,a treasurer and such.
it deems necessary to conduct its meetings
7. A majority of the entire Board shall
constitute a quorum, but less than a quorum may adjourn a
scheduled meeting.
Subdivision 8. Each City may compensate the Commissioners
it appoints, but the Commissioners shall not be compensated by
the Organization or have expenses reimbursed by the Organization.
Subdivision 9. Board recommendations regarding • operat-
in g budgets and capital improvement projects shall re
uir a two-
thirds (2/3) majority vote of the entire Board.
Subdivision 10. The Board shall maintain a business
office-at 2215 West Old Shakopee Road, Bloomington, Minnesota
55431. ;All notices to the Board shall be delivered or served
to such office.
SECTION V
POWERS AND DUTIES
Subdivision 1. Except as otherwise qualified or modi-
fied by this Agreement, the Organization, acting by its Board of
Commissioners, shall have and perform all the powers and duties
expressly set forth in and reasonably implied from Minnesota
Statutes § 473.875 to § 473.883, inclusive.
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Subdivision 2. The Organization may,.within the scope
of this Agreement, accept gifts, apply for and use grants-or
loans of -money or other property from the United States, the
State of Minnesota, any unit of government or other governmental
organizaton, or from any person or entity for the purposes des -
cribed herein and may enter into any reasonable.agreement required
in connection therewith; it may comply with any laws or regula-
tions applicable thereto; and it may hold, use and dispose of
such money or property in.accordance with the terms of the gift,
grant, loan or agreement relating thereto..
Subdivision 3. To the extent of funds acquired by
grant, donation,.or otherwise, the Organization may adopt an
operating budget, enter into contracts and expend such funds.
Any disbursements shall be made in accordance with the principles
of Minnesota Statutes § 471.38 et seq.
To the extent that the Organization lacks funds, how-
ever, the Cities shall.directly bear the expenses of the Organ-
ization and /or shall provide in -kind assistance (e.g. personnel,
office or meeting space) to the Organization. Except for such
capital improvements as are to be paid with.Organization funds.or
via certification to the County pursuant to Minnesota Statutes
§ 473.883, the Cities shall also be responsible for the cost of
any capital improvements.
The Board shall determine how specific costs,personnel
requirements, contracting and bid responsibilities, and other
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expenses and requirements shall be shared by the Cities. How-
ever, to the extent possible, costs and responsibilities which
canoe split geographically in a sensible manner shall be divided
between the Cities on that basis
Whenever personnel of the Cities is utilized by the
Organization, such personnel shall remain the employees of their
respective Cities for all purposes, including.salaries, benefits
insurance, and workmen's compensation. No charges for the ser-
vices of employees of the Cities shall be paid by the Organiza
.tion unless expressly agreed upon by the Cities.
SECTION VI
DURATION
Subdivision 1. The Organization shall continue in
existence until the termination of this Agreement. This Agree-
ment may be terminated by either party, upon one year's written
notice to the other party, or at any time upon agreement of-
both parties.
Subdivision 2_.. In the event of the termination of
this`Agreement and the dissolution.of the Organization, all
improvements constructed pursuant to this Agreement shall.be-
come the property of the party within whose boundaries the im-
provement is located. Any unencumbered funds or other assets
possessed by the Organization shall be distributed equally to
the parties.
Subdivision 3. Termination of the Agreement and disso-
lution of the Organization shall in no way affect or terminate
Richfield's presefit rights to dispose of its storm water through
connectors to Smith Pond in Bloomington.
SECTION VII
EFFECTIVE DATE
This Agreement shall be in full-force and effect on
the date by which both Cities have.adopted resolutions approving
said agreement.
SECTION VIII
ORGANIZATIONAL MEETING
The Board'.s first meeting shall take place at Bloomington
City Hall, 221,5 West Old Shakopee Road, Bloomington, Minnesota
on the third Thursday of the month that occurs following a lapse
of thirty (30) days after the effective date of the Agreement.
SECTION IX
MISCELLANEOUS
Subdivision 1. Each party agrees to indemnify and hold
harmless the other party for liability for damages for personal
injury, death, or property damages occurring as a result of
improvements or systems which are constructed solely within the
boundaries of the indemnifying party.
Subdivision 2. Unless specifically provided by this
Agreement, nothing herein is intended to alter or amend any
existing agreement between the - parties.
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IN WITNESS WHEREAS,
the Cities. have.hereunto set their
hands the day.and -year first
above written.
Upon proper execution,
CITY OF
BLOOMINGTON
this Agreement shall be
-
a legal and binding obliga-
tion-.-.upon the City of
Bloomington.
By
Mayor
By:
City Attorney
City Manager
[SEAL]
Upon proper execution,
CITY OF
RICHFIELD
this Agreement shall be
a legal.and binding obliga-
tion upon the City.of
Richfield.
By:
Mayor
B_ y:
City Attorney
City Manager
[SEAL],
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CITY OF RICHFIELD, MINNESOTA
Office of City Manager
The Honorable Mayor
and
Members of the City Council
City of Richfield
Council Members:
Council Letter No. 424
Agenda December 19, 1983
Subject: Resolution Approving $925,000 Industrial De-
velopment Revenue Bonds for Metro Sales, Inc.
1620 E. 78th Street
At the November 28, 1983 city council meeting, the city
council held a public hearing and approved a resolution giving
preliminary approval to the issuance of Industrial Development
Revenue Bonds in the amount of $925,000 for Metro Sales, Inc.
Metro Sales, Inc. has proposed to construct a facility at 1620
East 78th Street.
• Attached to this council letter is the final resolution
approving this project and the issuance of these bonds. The
city attorney's office has recommended that this resolution be
acted upon prior to the December 31, 1983 sunset provision of
the federal legislation pertaining to IDR Bonds.
JGC /ej a
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S ect u 1
L
John G. Car
City Manager
itted,
wright
� 2
Council Letter No. 424
Agenda December 19, 1983
Subject: Resolution Approving $925,000 Industrial De-
velopment Revenue Bonds for Metro Sales, Inc.
1620 E. 78th Street
At the November 28, 1983 city council meeting, the city
council held a public hearing and approved a resolution giving
preliminary approval to the issuance of Industrial Development
Revenue Bonds in the amount of $925,000 for Metro Sales, Inc.
Metro Sales, Inc. has proposed to construct a facility at 1620
East 78th Street.
• Attached to this council letter is the final resolution
approving this project and the issuance of these bonds. The
city attorney's office has recommended that this resolution be
acted upon prior to the December 31, 1983 sunset provision of
the federal legislation pertaining to IDR Bonds.
JGC /ej a
•
S ect u 1
L
John G. Car
City Manager
itted,
wright
CITY OF RICHFIELD, MINNESOTA
Office of City Manager
Council Letter No. 423
Agenda December 19, 1983
The Honorable Mayor
and
Members of the City Council
City of Richfield
Council Members:
Subject: Purchase in Excess of $5,000
City Council Policy Resolution No. 6847 provides that the
city council must approve the purchase of merchandise, materials,
equipment or construction when the amount exceeds $5,000. There
is one such item on the council agenda for December 19, 1983.
Snowblower
The city council at the December 12, 1983 meeting, authorized
obtaining quotations for a snowblower which is provided for in the
• 1984 budget. This blower is to be attached to a new sidewalk unit,
also budgeted for 1984. Bids for the new sidewalk unit are
scheduled to be opened December 20, 1983. It is not known at
this time what type of unit will be purchased so the actual order-
ing of the snowblower will need to be contingent upon the type of
sidewalk unit purchased. Quotations received for the new snow-
blower attachment, therefore, did not include the coupling unit.
Quotations were requested from four vendors: McQueen Equip-
ment, Bryan Equipment Company, Kromer Company and Waldon Company.
McQueen and Kromer indicated they were unable to secure a blower
the size needed for Richfield sidewalks. The Waldon Company
quoted $9,050 for a 52" Snoblitz with a 30 horsepower Wisconsin
engine, gas powered. Bryan Equipment quoted $9,472 for a Fair 60"
powered by a 40 horsepower Slanzi diesel engine.
It is the preference of staff that the quotation of Bryan
Equipment Company be accepted as this machine has a larger engine
and is diesel- powered. It is the opinion of staff that the gas
powered unit would not operate as efficiently because of blowing
snow, and the effects of the resulting wetness on the performance
of the gas powered unit, which would not occur with the diesel
powered unit.
It is
• of a Fair
of $9,472.
recommended that the city council authorize the purchase
diesel powered blower from Bryan Equipment in the amount
R s ct
John G.
City Manager
CITY OF RICHFIELD, MINNESOTA
• Office of City Manager
Council Letter No. 422
Agenda December 19, 1983
The Honorable Mayor
and
Members of the City Council
City of Richfield
Council Members:
Subject: Public Hearing, Consideration of Preliminary
Resolution, Tax Exempt Financing, L /H /N
On November 28, 1983 the HRA and the City Council met concurrent-
ly and held a public hearing on a -housing plan and three housing
programs. The hearing was held as part of the process for seeking
below market interest money for housing construction.
One of the programs approved by both the HRA and the City
Council was a multi- family rental project to be part of the Market
Plaza development for the Godfather Block. Following approval of
• this program, both bodies adopted a motion establishing December 19
at 7:00 p.m. as the date and time for the public hearing. The pur-
pose of the hearing is to consider the adoption of a preliminary
resolution providing for the use of tax exempt housing revenue bonds
for the construction of the rental project.
Derrick Land Company is proposing to construct 150 housing
units. The general characteristics of the project would be as follows:
No. Bedrooms Area Rental
24% (36) 1 bedroom 660 sq. ft. $396/mo*
30% (45) 1 bedroom 720 sq. ft. 455/mo.
30% (45) 1 bedroom /den 850 sq. ft. 495/mo.
16% (24) 2 bedroom 950 sq. ft. 541/mo.
*Projected rents based on 1983 dollars
Twenty percent of the units (or 30 of the small, one bedroom
units) would have rents affordable to families and individuals (elder-
ly and non - elderly) with incomes which would qualify them for partici-
pation in the Federal Section 8 Rental Assistance Program. It is
important to note that tenants need not be participating in the
Section 8 program, but that 20% of the units would be affordable
to persons with incomes which fall within the program limits. At
the present time, the Section 8 program income limits are $17,700
for one person and $20,200 for two persons. Incomes may be less
than the amount stated, but cannot exceed them.
Council Letter No. 422 -2- December 19, 1983
Fifty -five percent or 83 units will be available to tenants
• with incomes of approximately $34,960 to $36,960. The remaining
37 units will be rented without regard to income limitation. This
program will help assure the availability of housing to moderate in-
come families or individuals. At this time, the availability of
the affordable units for moderate income tenants is required by fed-
eral law and regulations to extend approximately ten years after 50%
of the units have been rented. The bonding authority being sought
is $8,000,000, however, the final figure will probably be less than
this amount. Unlike single family programs, multi - family rental
projects may be funded locally, provided there is an approved housing
plan and program. It is anticipated the plan and program approved
locally on November 29, will be approved by the Metropolitan Council
and MHFA by the end of January, 1984.
Congress adjourned November 18th, without rescinding the law
which "sunset" housing revenue bonds. Thus, after December 31,
1983, there will be no legal basis for the issuance of these bonds.
However, the concensus is that early in 1984, Congress will enact
legislation which again provides tax exempt financing for housing.
It is likely, however, that restrictions will be imposed. To protect
access to this financing for Market Plaza (Derrick), it is the
opinion of the bond counsel that the attached preliminary resolution
should be approved now so that there is a record of the city's in-
tent to issue these bonds which may, in turn, protect it from Congress-
ional restrictions imposed in 1984.
• It is recommended that the City Council approve the attached
resolution.
JGC /ej a
cc: Community Development Director
•
Wohn ectfu,Yly s mitted,
E
G. Ca ght
C City Manager 7
0 RESOLUTION NO.
RESOLUTION REL =%'G TO Ti. ISSUANCE OF
REVENUE BCNDS PURSUANT TO MINNESOTA,
STATUTES, C:iAPTF..R 462C, FOR =
PURPOSE OF FINAITCING A MULTIFPiV,Y HCUSMIG
DEUELOPZ%ENT
BE IT RESOLVED by the City Council of the City of Richfield, Minnesota (the
City), as follows:
Section 1. Recitals.
1.01. Under Minnesota Statutes, Chapter 462C, as amended (the Act), the
City is authorized to plan, administer, issue and sell revenue bonds or other
obligations to make or purchase loans to finance one or more multifamily housing
developments within its boundaries.
1.02. The Act provides that the City may plan, administer and make or
purchase loans to finance one or more develcpren`ts of the kinds described in
Subdivisions 2, 3, 4 and 7 of Section 462C.05 of the Act upon adoption of a
program setting forth the information required by Subdivision 6 of Section
462C.05 of the Pict, after a public hearing held thereon and after approval
thereof by the Minnesota Housing Finance Agency, as provided in Section 462C.01
of the Act on the basis of the considerations stated in Section 462C.01 of the
1.03. Representatives of Derrick Lard Cerny, (the Developer) have
advised this Council of the Developer's desire to acquire certain land located
in the City in the Lyndale- Hub- Nicollet Redevelopmeint Project Area, and to
construct and equip therein a multifamily rental housing developnent consisting
of approximately 150 dwelling units. Developrert and financing costs of the
Project are presently estimated by representatives of the Developer to be
approximately $8,000,000.
1.04. Representatives of the Developer have rea_uested that the City issue
revenue bends or obligations (the Bonds) pursuant to the Act in such aggregate
principal amount as may be necessary to finance all or a portion of the costs of
the Project and make the proceeds of the Bonds available to the Developer for
the acquisition, construction and equipping of the Project, subject to agree*rer:t
by the Developer, or other persons or institutions, to pramtly pay the prin-
cipal of, premium, if any, and interest on the Bonds.
1.05. The City has been advised by representatives of the Developer that
conventional commercial financing of the costs of the Project is available only
on a limited basis and at such high costs of borrowing that the nature anal
extent of the Project and the economic feasibility of operating the Project
would be significantly affected, but with the aid of municipal financing the
Project can be constructed as designed and its operation made more economically
feasible.
1.06. Neither the full faith and credit nor the taxing powers of the City
will be pledged to the payment of the Bonds.
Section 2. Ancroval and Authorization.
2.01. It is hereby found and determined that it would be in the best
interest of the City to issue the Bonds under the provisions of the Act to
finance the costs of the Project; the aggregate principal a=unt of the Bonds is
Currently estimated to be $8,000,000.
2.02. The Project is hereby given preliminary approval by the City and the
issuance of the Bonds for such purpose is hereby approved. The Bonds shall not
be issued until the housing program described below has been reviewed and
approved as required by the Act and until the City, the Developer and the
purchaser of the Bonds have agreed upon the details of the Bonds and the pro-
visions for their payment. The principal of, premium, if any, and interest on
the Bonds, when, as and if issued, shall be payable solely from nropert_,, pledged
to the payment thereof and shall not constitute a debt of the City within the
meaning of any constitutional, statutory or charter limitation thereon. The
City Attorney and other officers and employees of the City are authorized in
cooperation with bond counsel to initiate preparation of such documents as may
be appropriate to the financing of the Project, setting forth the detailed terms
of the Bonds, the security therefor and the provisions for payment of the
principal of, premium, if any, and interest on the Bonds in ccanpliance with
applicable state and federal statutes and regulations.
2.04. M-ie City has prepared a program for the proposed development (the
Program) which has been presented to this Council, and which contains informa-
tion demonstrating the need for the Project, stating the method of financing
proposed and that the development is to be acquired, constructed and equipped
pursuant to Subdivision 3, Section 462C.05 of the Act. On November 29, 1983,
after notice duly published, a public hearing was held on the Program, and the
Program was adopted by the City pursuant to Section 462C.05, Subdivision 5 of
the Act.
2.05. Under Section 462C.07, Subdivision 1 of the Pzt, the Citv rrav
exercise, within its corporate limits, in the making cf the loan to finance the
acquisition, construction, and equipment of the Project and in the issuance of
the Bonds, any of the powers the Minnesota Housing Financing Agency may exercise
under Minnesota Statutes, Chapter 462A, without limitation under the provisions
of Minnesota Statues, Chapter 475.
2.06. The Developer has agreed to pay any and all costs incurred by the
Citv in connection with the Project and its financing whether or not the Program
is approved by the Minnesota Housing Finance Agency, whether or not the Project
is completed, and whether or not the Bonds are issued.
Passed by the City Council of the City of Richfield, Minnesota,
this 19th day of December, 1983.
John Hamilton, Mayor
ATTEST:
Sylvia K. Bergh, City Clerk