2002-05-22 CC Packet - Laserfiche WebLink

Home Browse Search

.' lIlIy 172082 15:28:41 'ia Fax -) 651 42'3 ~29 Acbtinistrator PClIIC 883 Of 883 ...__1\ iMc 1~,,!ofh,-...fHl\Y< t.it.w~~~....>>&_ -FridayFax- A weeldy l"gulDllve updale from rhe League of Minnesola Clrles 2002 Public Finance Bill (SFZS72 (HoUiapr) - substilutiall (51<'3343 Rat I HF 2879 Abrams) Lale Wednesday evening the Senate/House conferees completed their work on the public finance bill. The provisions eclipse the original focus of lhe bill that was to establish the Region Nine Development Commission nonprofil corporatiolL Key provisions of lhe bill include: . Removes lhe counly residency requirement when selecllng qualified commissioners to eminent domain commissions, . Provides for lhe St. Paul library levy to be listed separale from lhe remaining amounl of Ihe clty's levy. Provides for an Independenlllbrary agency for lhe clly and authorizes the agency 10 Issue general obllgallon bonds. . Expands tbe projects eligible for USDA Rural Developmenlloans and Increases Ibe maximum loan amounl from $250,000 10 $450,000, . Provides for public notice requirements 10 the public and property owners of properly to be acquired via eminent domain when part of development project Is under MS 469. . Provides that general obllgallon revenue bonds maturilles may not extend more lhan 30 years from the estimated dale of completion of lhe project and extends tbe malurlty of housing bonds from 20 years to 30 years, . DeOnes under MS 469.153, "relaled public Improvements", as any public Improvement described under MS 429.021 that are acquired and construcled in connecUon wilh lhe project and are financed by the contracting party under the revenue agreemenl. . Extends 1M abllily 10 refinance Ihe deb! of nonprofit corporations 10 a variely of S01(c)(3)organlzatlons engaged In heailh . May 17, 2002 Page 3 care, educallonal acllvilles, arlS education and sodal services. Places IImllalfons on bonds Issued for extralerrltorlal projeclS. Allows Metropolitan Council 10 provide for funding 10 munlclpalllles for Ute production of affordable housing. Granting munlclpalllles Ibe authority to issue bonds under MS 475 for slreet reconslruction wllhoul regard elecllon requlremenl&. Conditions on tbe aUlhorlly include approval of lhe Issuance by unanimous council vole, Is part of the reconstruction plan, public notice Is provided, reverse referendum, and Is SUbjecllO the munlclpalllles nel deblllmll. Allows tbe Soutbwest Regional Development Commission to levy an addtt1onalamounlto retire the rel1lllning deb! connected wilh the Prairie Expo. projeClln Wortblngton Grants Soulh St. Paullhe ability to convey real estate 10 advance construction of resldenlla I dwellings. Amends the levy provisions governing lhe Cook Coonty Hospital District. Establishes tbe Region Nine Development Commission. Granls Anoka Counly lbe authority 10 Incur debt for building out Its public safety comllllnlcallon system. Directs the establishmenl of a single coordlnaled economic development aulhority for lhe Alexandria area known as tbe Lakes Area Economic Development Aut horlly. Guide. lite use of lax forfeited land proceeds Cor properly in St. louis County. InC%eases the amount Ilasca County can spend annually for the prol11Ollon of tourism, agrlcullure and Industrial development from $4 to $10 per capita out ofproceeds from sale or tax forfeited land dedicated for those purposes. . . . . . . . . . . Por ~r.ll\rOrmIUon OR cil)' l'sill.Uv.I..u~ conlacl an)' rnmber of lh.lAIau- of Mlullota Chili 1n1.J.C'....n.ZMnllllltl&lIou leam. 651.281.1200 or SOO.~2S.1122 I _