90-2212 '� R I G I N�A L { g� Co�ci t f i le # 90_?�/�
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Green Sheet # q//5
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
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Presented By n -'--; > i ' � ���-
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Referred To �' Committee: Date
PRELIMINARY RESOLUTION
1991 GENERAL OBLIGATION BOND ISSUES
RESOLVED, that for purposes of funding the Capital Improvement Budget for 1991 and of
funding certain street improvements in connection with the Sewer Separation Program, the City of
Saint Paul in accordance with the appropriate statutory and charter provisions does hereby give
preliminary approval for'the issuance of General Obligation Bonds in 1991 as follows:
a) Capital Improvement Bonds in the estimated aggregate amount of Eleven Million
($11,000,000) Dollars; and
b) General Obligation Street Improvement Special Assessment Bonds in the estimated
aggregate amount of Two Million One Hundred Forty Thousand ($2,140,000) Dollars.
RESOLVED FURTHER, that the Director, Department of Finance and Management
Services is hereby authorized to initiate all necessary actions toward the sale of the aforementioned
bonds and to report to the City Council his recommendations for the offering and sale thereof,
including his recommendation respecting the manner of acceptance of bids, no later than January 3,
1991, following which the Council will consider a resolution fixing the amount and maturity of the
1991 general obligation bonds, determining the manner for City acceptance of bids, and providing
for the sale of said bonds.
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Yea Na s Absent Requested by Department of:
Dimon
Goswttz Finance and Management Services
Lon
Macca e
Rettman
T une
ui son '� '
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Adopted by Counci l: Date DEC 1 � t990 Form A rov by City . Attorney
Adoption �`` Ce,rtified by Council Secretary BY. �
BY� Approv by Mayor for Submission to
Approved by Mayor: Date DEC i � ���a� Counci l
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By: •� �" ��p ��
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DEPARTM[NT1�FI(�/COUNdL DATE INITIATED
Finance & M t. Service 12-03-90 GREEN SHEET NO. Q1 � 5
COMTACT PEFi30N 8 PHONE INITUU DATE " " INITfJ�LJDATE
�DEPARTMENT OIRECTOR �CITY COUNCII
Shirley Davis 292-7038 �� �CITY ATTORNEY �Crtv C�e�uc
MUST BE ON COUNqI A(iENDA BY(DA ROU71N0 �BUDf3ET OIRECTOR FIN.8 MOT.BERVICE3 DIR.
December 13� 1990 �MAYOR(OR ABSISTANT) �
TOTAL#�OF SIONATURE PA (G.IP ALL LOCATIONS FOR SI�iNATURE) '
AC'TION REQUE8TED:
This Preliminarp Resol tion ves the Department of Finance & Manaqement Services authority to initiate all
necessary action leadi q to e issuance of qeneral obligation City bonds on Februarp 12, 1991.
�ooMMEr�a► :nva�W a (� GOl!lK�L REPORT OPTIONAL
_PLANNINQ OOMMI8SION dVIL 8E �COMMISSION ANALYBT PHONE NO.
_qB COMMITfEE
CO�AMENTS:
_3TAFF
_018TRICT COURT
SUPPORTS YVNIpl OOUNqI OBJE 4
INIT1ATiN0 PROBLEM,188UE. �Wh�t.WMn.Whsn.Wh»:
PLEASE PLACE THIS �iJTIO FOR ACTION ON COUNCIL AGENDA OF DDCEMBII2.�', 199�.-`
4j`�s �out�ined in the 19 1 Pro osed Capital Improvement Budqet the City intends to sell:
$11,000,000 G.O. ital mprovement Bonds, Series 1991
2,140,000 G.O. S eet I provement Special Assessment Bonds, Series 1991
ADVANTA(iES IF APPROVED: �
This resolution is p elimi ry as it onlp authorizes the Department of Finance and Management Services to
beqin the 1991 bond ale p cess.
A detailed bond sale resol tion calling for the sale will be presented to the full Council on Januarp-�, 1991.
asnovnHrnoES iF n�r�o:
None. I
RECEIVED ,
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CI�'Y CLERK
D18ADVANT�ES IF NOT .
Bond sale procedu es are dictated by City Charter and state Statutes. This preliminary resolution must-be
passed' to fuifill the r frements of law. ,
If resolution is ot p ed, funds will not be available for construction projects.
_.,.Y.i�...:� i rtrn,^!'^C� lr��L::'1'
DEC <?- igct0
TOTAL AMOUNT OF TRA CTION 008T/REV6NtlE SU�iETED(qRCLE ONEh YES NO
�p gp�p� S ec al As t Ge r S ACTIVITY NUM�ER 89991 and 89391
FIIrIVrCIAL INFORMATION: 1� '
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CITY OF SAINT PAUL
° " OFFICE OF THE CITY ATTORNEY
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�••• JANE A. MC PEAK, CITY ATTORNEY
647 City Hall,Saint Paul,Minnesota 55102
612-298-5121
JAMES SCHEIBEL FAX 61�298-5619
MAYOR
12-3-90
To: Shirley Davi����.!
Fr: Jim Hart
Re: 1991 G.O.Bond Preliminary Resolution
Per your request I have prepared the referenced resolution,
approved it as to form and transmit it herewith.
cc: Budget O�fice
Public Works
Springsted Inc.