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<br />~~J <br /> <br />.i-' <br />~ <br /> <br />~ <br /> <br />.;; !. <br /> <br />i!. <br /> <br />"! <br /> <br />~ <br /> <br />BND/newbrigh91 <br /> <br />RESOLUTION NO. 85-47 <br /> <br />A RESOLUTION APPROVING AND ADOPTING A HOUSING <br />PLAN UNDER MINNESOTA STATUTES, CHAPTER 462C <br /> <br />WHEREAS, the City of New Brighton, Minnesota (the <br />"City") is authorized, pursuant to Minnesota Statutes, <br />Chapter 462C (the "Housing Act") to develop and administer <br />multifamily housing programs pursuant to a Housing Plan, <br />which may be financed by the issuance of the housing revenue <br />bonds of the City; and <br /> <br />WHEREAS, there has been prepared on behalf of the City a <br />proposed Housing Plan for the City (the "Housing Plan") <br />providing, among other things, that the City may issue its <br />revenue bonds to finance single family and multifamily <br />housing programs upon adoption of housing programs under the <br />proposed Housing Plan, and the City has held a public <br />hear ing on the Housing Plan, after at least 30 days' pub- <br />lished notice thereof; and <br /> <br />WHEREAS, the City Council (the "Council") has determined <br />that it is in the best interests of the City and in further- <br />ance of the City's goals to adopt the Housing Plan; and <br /> <br />WHEREAS, neither the City nor the State of Minnesota <br />shall be liable on any revenue bonds to be issued pursuant <br />to any housing program adopted under the Housing Plan, and <br />such bonds shall not be a debt of the City wi thin the <br />meaning of any state constitutional provision or statutory <br />limitation, and will not constitute or give rise to a charge <br />against the general credit or taxing power of the City or a <br />pecuniary liability of the Ci ty, nor shall such bonds be <br />payable out of any funds or properties other than those <br />provided as security therefore; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Ci ty Council of <br />the City of New Brighton, Minnesota: <br /> <br />Section 1. The Housing Plan, attached hereto as Exhibit <br />A, is hereby approved and adopted by the City. <br /> <br />Section 2. The staff of the Ci ty is di rected <br />all actions necessary for review of and comment <br />Housing Plan by the Metropolitan Council pursuant <br />requirements of the Act. <br /> <br />to take <br />on the <br />to the <br /> <br />- 1 - <br />