95-58 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES,
MINNESOTA
DA TE: May 22, 1995
RESOLUTION NO: 95-58
MOTION BY: Mason
SECONDED BY: Dockendotf
A RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A JOINT
POWERS AGREEMENT WITH THE HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF CHANHASSEN, MINNESOTA AND THE CARVER COUNTY
HOUSING AND REDEVELOPMENT AUTHORITY (THE "AUTHORITY') IN SUPPORT
OF THE AUTHORITY'S ISSUANCE OF HOUSING AND DEVELOPMENT GROSS
REVENUE BONDS (CHANHASSEN APARTMENTS PROJECT) SERIES 1995A AND
HOUSING AND DEVELOPMENT REVENUE BONDS (CITY OF CHANHASSEN,
MINNESOTA UNLIMITED TAX GENERAL OBLIGATION--HOUSING DEVELOPMENT
PROJECTS) SERIES 1995B
BE IT HEREBY RESOLVED by the City Council of the City of Chanhassen, County
of Carver, Minnesota (the "City") as follows:
,
.
.
.
The Carver County Housing and Redevelopment Authority (the "Authority"), a
public body corporate and politic, organized under Minnesota Statutes, Section
469.001 through 469.047 (the "Act") proposes to issue its Housing and
Development Gross Revenue Bonds (Chanhassen Apartments Project) Series
1995A (the "Series A Bonds") in the aggregate principal amount not exceeding
$600,000 and its Housing and Development Revenue Bonds (City of Chanhassen,
Minnesota Unlimited Tax General Obligation -- Chanhassen Apartments Project)
Series 1995B (the "Series B Bonds" and together with the Series A Bonds, the
"Bonds '') in the aggregate principal amount not exceeding of $4, 131,542 to finance
an approximately 63-unit multifamily housing facility for senior citizens of Iow and
moderate income, which constitutes a housing development project as defined in
the Act (the "Project").
The City previously approved the issuance by the Authority of the Series B Bonds
and the pledge by the Authority of the City's furl faith and credit thereto.
A Joint Powers Agreement (the "Joint Powers Agreement") between the Authority,
the City and the Housing and Redevelopment Authority of the City of Chanhassen
(the "City HRA") providing for certain contributions by the City and the City HRA
to support the operations of the Project and the annual debt service on the Bonds,
has been submitted to the City Council for approval.
It is hereby found, determined and declared that the implementation of the Project,
and the execution and delivery of the Joint Powers Agreement and the
performance of all covenants and agreements of the City contained therein are
authorized under the constitution and laws of the State of Minnesota.
.
The Joint Powers Agreement is hereby approved in substantially the form on file
with the City on the date hereof subject to final editing by the City Attorney. The
Mayor and the City Administrator of the City are hereby directed and authorized
to execute said Agreement on behalf of the City. The form and terms of the Joint
Powers Agreement may be varied prior to execution and defivery by the parties
thereto, provided that any such variance shaft not be, in the opinion of the City
Administrator and City Attorney, materially adverse to the interests of the City. The
execution and defivery of the Joint Powers Agreement as provided in this Section
5 shaft be conclusive evidence of the determination that any such variance was not
materially adverse to the interest of the City.
Passed and adopted by the Chanhassen City Council this 22nd day of May, 1995.
ATTEST:
Don Ashworth, Clerk/Manager
YES
NO
Chmiel
Berquist
Senn
Dockendorf
Mason
None
O~nald J. C~~, ll~ay~'~ -- - - -
ABSENT
None