89-132 � � � ,�, �
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WHITE - C�TV CLERK 569T COU[1C11 Jw
PINK - FINANCE
CANARV - OEPARTMENT GITY OF SAINT PAUL / Q�
BLUE - MAYOR File NO• � ` `
Council Resolution � 7
Presented B
Referred To � Committee: Date �`'��' ��j
Out of Committee By Date
TIFYING THE ACCEPTANCE OF BID FOR
2,000,000 GENERAL OBLIGATION STREET
MPROVEMENT SPECIAL ASSESSI�:NT BONDS,
SERIES 1989B
A. WHER AS, the City Council of the City of Saint
Paul, Minnesot (the "City" ) , by a resolution adopted on
February _, 1 89 (the "Bond Resolution" ) , has authorized
the issuance o the City' s $2, 000, 000 General Obligation
Improvement Sp cial Assessment Bonds, Series 1989B, bearing
a date of orig nal issue of March 1, 1989 (the "Bonds" ) ;
and
B. WHER AS, the Director, Department of Finance and
Management Ser ices, has awarded the sale of the Bonds and
made the other determinations required by the Bond Resolution:
NO[a, THER FORE, BE IT RESOLVED by the Council of the
City of Saint aul, Ramsey County, Minnesota, as follows:
l. Ratification of Acceptance of Bid. The Director,
Department of inance and Management Services, has accepted
a bid for the ale of the Bonds, and has evidenced such accep-
tance and the aking of the other determinations required
by the Bond Re olution in a Certificate as to Accepting Bid
attached heret as Exhibit A and hereby incorporated herein
by reference. Such acceptance and determinations are hereby
ratified and c nfirmed.
COUNCIL MEMBERS
Yeas Nays Requested by Department of:
Dimond Finance and Management Services
��g In Favor
Goswitz
Rettman B
s�heine� A gai n s t Y
Sonnen
Wilson
Form Approved by City A or y
Adopted by Council: Date
Certified Passed by Council Secre ary BY
By ��t"�J
A►pproved by Ylavor: Date Approved May fo b ission to Council
.
By
WNITE .=:.tITV�{I�ERK �i�� � ., . ,.. Y .•v is-"*.,. . .�� . . . , ' ...-..�_. . .
� PINK - F�tVANCE G�T TY OF SA I NT ,PA�T L Council
CANARY -`OEPARTMENT
BLUE -MAVOR- Flle NO. ��Y ��� w -
3 Council Resolution
Presented By �`} "
�Referred To `� Committee: Date `A � -
Qut of Committee By Date
l�TI!"!I� '!8 �IDC'�'�C�! t�! �.t� ��Q!
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1►. , �h� Citt t7o�eacil of th� Cit�r o! �aiat ;
l�aal, !ti t t�e "Citlr'I, b�r a r�solvtia� �id oa
�zvary .,,,_,, !�! {t!� "�d ��a►lotfe�•?. t�as a�thoris�d
t�t ils�a�s ! t3� Cf tt'• �2�084 r 9A0 �.1ca1 tt�Dlf+ja�ie�
I�pra�tt ia�l llutsr�at �ds, Sfs�ie�s 2!tlD, b�a�fsq
a da�� of osi t�al i�ao� qf ltareh 1� 24�! t tl�t i�s���
�
�►. , tbs IIis�ert�t� Datptrt�t o�.' lClAaut�e aad
li�a4�t c�ea, �+iu awr+d�d tl�s �sl� of th� �ad• asd
aia8s t�s detar�i�atia�s ��qaired L� th� lasd �sol�cti�s:
�"` ��1lr � H�3 I? 'EE80�.1�168 b1► th� �il of t�
� Eity e� Ssiut la�tl, ��ty Cot�rtlr, �li�ta. as foll+o+irst i
� l. Eati�is�atiog o +a� ot sid. T6e iyir�tor.
�erta�eat of ! naae� lfaaag�t e�a, a�ao�pt�d �
a bi+3 far t�u� sals of tha �o�s, a�d bas �idaa�►�d �t� aac�p•- .
tanc� an� t8� a�1�ci� o! t�e +ot�ar dst�sitimatioaa r�qair�el
b�► tbe �nd wl�tioa in a Css�iti�eate as ta 11ct�ptinq std
atta+a�ad hazyr as S�ibit l� as�t hez+�b�r 3�na�sporat�! h�r�is
br re�ereae�, Sna� a�aptsnc� a�d d�t�r�isatia►as ar+�e h�sfb�
ratitisd a�8 fiza�d.
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.. �,.e ::�,
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COUNCIL MEMBERS s Requested by Department of: �
Yeas Nays
Dimond � � � �M
�� [n Favor
c�a �
RCLtmeD '
scheibel A gai n s t BY _ `'�° �°-
Sonnen "
Wilson `
Form Approved by City Attor�y
Adopted by Council: Dat � �
g � �.'�•. � n...= J
.�+`
Certified Passed by Council Se retary y �,.—�---- �!--�f
gy, i'�'7 � � 1�_ f��
' Approved�iy Mayor fot Submission to Council
Approved by Mavor. Date �
By , gy _ , _ �.. .'
. �;���-���
' EXHIBIT A
569T
CITY OF SAINT PAUL ) CERTIFICATE AS TO
) ACCEPTING BID
COUNTY OF RAMSEY )
I, the ',undersigned, DO HEREBY CERTIFY that on the date
hereof I am the duly qualified and acting Director, Department
of Finance �nd Management Services, of the City of Saint Paul,
Minnesota (t'the "City" ) , and as such officer l do hereby
further cert,ify as follows :
1. I the officer authorized by paragraph 1 of the
City' s resol tion adopted on February _, 1989 (the "Bond
Resolution" ) , to accept the bid for the sale of the City' s
$2,000,000 G neral Obligation Street Improvement Special
Assessment B, nds, Series 1989B (the "Bonds" ) .
2 . I h�ve been presented affidavits showing publication
of notice of'� the sale of the Bonds for which bids were to be
received on �'ebruary 13, 1989, in accordance with Resolution
No. 89- adopted by the City Council on January 17, 1989,
and approved by the Mayor on January _, 1989; and I have
examined thelaffidavits, have found them to comply with the
provisions o� Minnesota Statutes, Chapter 475, and have
approved the� and ordered them placed on file in the City' s
records .
3 . The !bids set forth on Exhibit A attached hereto were
received pursivant to the Official Terms of Offering for the
Bonds by the IDirector, Department of Finance and Management
Services, at Ithe offices of Springsted Incorporated at 2 :00
P.M. , Central Time, on February 13, 1989 .
4 . Afte consultation with the City's financial
consultant, I determined not to reject all bids. I have
found, determ ned and declared that the bid of
, attached hereto as Exhibit B, is the most
favorable bid received, and have accepted such bid and awarded
the Bonds to uch bidder.
5 . I ha�e set the interest rates on the Bonds to be
those interes rates set forth in such bid. Accordingly, the
Bonds shall belar interest at the respective rates per annum
set forth oppasite the maturity years as follows:
� �
��i��
Maturity Yea�r Interest Rate Maturity Year Interest Rate
1991 � 2001 �
1992 2002
1993 2003
1994 2004
1995 � 2005
1996 2006
1997 '� 2007
1998 '� 2008
1999 I 2009
2000 2010
i
6 . I h� ve set the purchase price for the Bonds to be
that purchas price set forth in such bid, being $ ,
plus accrued interest to settlement.
7 . The total interest to be paid on the Bonds on
September 1„ 1989, and March 1, 1990, is $ With
earnings est mated at � from approximately March 13,
1989, $ will need to be deposited into the Debt
Service Fundlas accrued interest or capitalized interest in
order to pay ��such interest.
8 . The Pledged Assessments, as defined in paragraph 19
of the Bond esolution, are in an amount equal to $
original pri cipal amount of special assessments levied.
IN WITNF�SS WHEREOF, I have set my hand this 14th day of
February, 198I9 .
�, Director, Department of Finance
and Management Services
Certificate a to Accepting Bid on $2,000,000 General
Obligation St eet Improvement Special Assessment Bonds, Series
1989B.
Attachments:
Exhibit : Bid Tabulation
Exhibit : Copy of Accepted Bid
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` • 4 " GITY OF SAINT PAUL
tin»�i��n _. . _._._.. _ . ...--� --
� '�t� I�� OFFICE OF 7.'AE CITY COIINCIL
C��-/��
Committee Report
� Finance. IUlanaaement. & Personnel Committee
January 30, 1989
1 . Approval of minutes of January 23 meeting. Approve
V�� � .
. esolution 89-�26 - approving sale of CIB Bonds Series Approved as-�ne�ed
I989A (�11,750,;000) . (Refe�-red from Council J nuary 26)
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3. Reso)ution 89-127 - epproving sal�f Street lmprovement Approved as �d
Special Assessment Bonds Series 19898 ($2,000,000) .
(Referred from Counci t Januai-y 26) � , �/�, „�a ,
-�' .(a�" '�' � �,��.
4. Resolution 89-128 - aparoving sai�f Como Conservatory Approved s �ed
Bonds Series 1989C ($5,000,000) . (Referred from Council
January 26) I, � � �"_ U
������
5. Resolution $9-129 - approving sale of Warner/Shepard Approved as�d
Rdad Bonds Series 2989D ($5,500,000) . {�eferred from
Counc i I January� Zb) �����;� ������.�
6. Re.�o 1 ut i on 89-1'30 - approv i ng sa 1� Refund i r�g Bonds Approved as-�e�d
Series 1989E (�2,275,OQG; . (Referred from Councii
� January 2b)
7. Resolution 89-1',31 - approving tax levy for $I1 ,750,000 No action required
CIB Bonds. (Rei,ferred from Council January 26)
8. Resolution 89-1 2 - approving tax levy for $2,0OO,OQO No action required
S�reet tmprove nt Special Assessment 8�nds. {Referred
frr�r�ei;l�xi;:Ja uary 26)
9. Resolu �on 89-1 3 - approving tax levy for �5,000,0�0 No action required
Como Conservatory Bonds. (Referred from Counci ) '
January 26)
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CITY HALL SEVENTH FLOOR SAINT PAUL, MINNESOTA 55102
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