HomeMy WebLinkAbout6175 - ADMIN Resolution - City Council - 1978/11/20RESOLUTION NO. 6175
RESOLUTION REQUESTING SPECIAL LEGISLATION
AUTHORIZING A HOUSING FINANCE PROGRAM AND PROVIDING FOR THE
ISSUANCE OF TAX-EXEMPT HOME MORTGAGE REVENUE BOND.
WHEREAS, the City Council of St. Loufis"Park has determined that the
preservation of the quality of life in St. Louis Park is dependent upon
the maintenance, provision and preservation of an adequate housing stock; and
WHEREAS, there is a need to provide affordable housing to persons of
low and moderate incomes existing and expected to reside in St. Louis Park; and
WHEREAS, the City currently provides housing assistance programs for
occupants of rental units and for single-family housing rehabilitation grants
and leans; and
WHEREAS, the Council desires to provide housing assistance to the
purchasers of single-family dwelling in the form of mortgage loans with reduced
interest rates; and
WHEREAS, the City wishes to finance a home mortgage loan program through
the issuance of tax-exempt residential home mortgage revenue bonds; therefore
BE IT RESOLVED by the City Council of St. Louis Park that the 1979
Minnesota Legislature be requested to adopt appropriate legislation
authorizing the City of St. Louis Park to conduct a housing finance program
and to issue revenue bonds to provide funding for such a program.
Adopted by the City Council November 20, 1978
Attest:
Revie ed for a. in'stration:
/ 7/
City Maria
May
Reviewed for legality and form:
City ttorney