HomeMy WebLinkAbout6490 - ADMIN Resolution - City Council - 1980/02/04FEBRUARY 4, 1980
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RESOLUTION NO. 6490
RESOLUTION OPPOSING FEDERAL LEGISLATION RESTRICTING THE
ISSUANCE OF HOUSING MORTGAGE REVENUE BONDS BY
MUNICIPALITIES
WHEREAS, legislation is under consideration by the United States Congress,
commonly referred to as the "Ullman Bill," which would severely restrict muni-
cipalities in their abilities to issue housing mortgage revenue bonds; and
WHEREAS, housing mortgage revenue bonds could provide a very useful tool
in providing decent housing for low- and moderate -income families in St. Louis
Park; and
WHEREAS, the City Council of St. Louis Park has adopted a housing plan for
the community which identifies housing mortgage revenue bonds as one of the main
instruments in improving the ability of decent housing stock for low- and moderate -
income people; and
WHEREAS, during 1979, the City Council has been developing rules, regulations
and procedures for the implementation of a housing mortgage revenue bond program;
and
WHEREAS, the "Ullman Bill" would severely limit the ability of St. Louis Park
to issue housing mortgage revenue bonds and therefore limit the ability of the
City to help low- and moderate -income citizens meet their housing needs;
therefore,
BE IT RESOLVED that the City Council of St. Louis Park, Minnesota, opposes
any federal legislation, in particular the Ullman bill, which would seriously
restrict its ability to issue housing mortgage revenue bonds.
Adopted by the St. Louis Park City Council February 4, 1980.
Attest:
)/eje
ity Clerk
Approved as to form and legality:
City A'ftorney