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REQUEST FOR HRA ACTION <br />Staff Approval: <br />� <br />Item Description: HRA Bonding Authority (HF0074) <br />1.0 Requested Action <br />Date: 9-16-08 <br />Item No: 8. a. <br />Agenda Section <br />Action Items <br />Staff has invited Mary Ippel of Briggs and Morgan to make a presentation to the RHRA <br />Board regarding the ability of an HRA in Minnesota to issue bonds. This item is for <br />informational purposed only. <br />2.0 Discussion <br />2.1 At the July RHRA Board meeting, Commissioner Maschka asked what ability the <br />RHRA has to issue bonds for projects. Staff asked Mary Ippel of Briggs and <br />Morgan, the City's Bond Consul, to prepare a memo regarding the statutory <br />authority for HRA to issue bonds. <br />2.2 Staff presented the memo to the RHRA Board at the August meeting. The RHRA <br />Board indicated they would like to have more discussion about the HRAs bonding <br />authority and requested that Mary Ippel be invited to the next RHRA meeting <br />answer questions about the bonding process. <br />2.3 Staff has included Ms. Ippel's memo dated August 1, 2008 as Attachment A of <br />this report. <br />3.0 RFIRA Recommended Action <br />There is not specific action required at this time. Ms. Ippel will be in front of the board <br />for informational purposes. <br />Prepared by: Patrick Trudgeon , RHRA Executive Director (651-792-7071) <br />Attachments A: Letter from Mary Ippel dated August 1, 2008 regarding an HRA's bonding authority. <br />HRA Bonding Authority (09-16-08) -Page 1 of 1 <br />