1996-60425
HRA RESOLUTION N0.604
RESOLUTION ADOPTING PRIVATE
ACTIVITY TAX EXEMPT FINANCING GUIDELINES
WHEREAS, the City of Richfield has the authority to issue bonds and notes to
assist in the financing of various private development activities with the City; and
WHEREAS, providing of such financing assistance can be of a significant benefit
to the activity financed; and should also be a valuable tool to the City in encouraging
and fastening certain types of development; and
WHEREAS, the public objectives can best be accomplished through the
administration of consistent guidelines; and
WHEREAS, the HRA has reviewed guidelines for private activity financing as
proposed by the City staff and is fully informed as to its content.
NOW, THEREFORE, BE IT RESOLVED by the HRA of the City of Richfield that
the document entitled Private Activity Tax Exempt Financing Guidelines, a copy of
which is attached as Exhibit A, is hereby approved and adopted.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 16th day of September, 1996 ~~
E. Harms, Chair
ATTEST: