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89-1429 WHIT£ - CITV CLERK � COUQCII PINK -�FINANCE GITY OF �S INT PAITL CANARV - DEPARTMENT BLUE - MAVOR � F�Ie NO. � � Co� cil� esolution (� z�� r, f J Presented By Referr I� Committee: Date �� Out of Committee By Date WHEREAS, The Tax Reform Aet of 198� mposed stringent requirements for the reporting, traeking and rebate; o arbitrage earnings for tax exempt bond funds, and WHEREAS, these arbitrage rebate ea�rn' ngs result from interest earnings on bond proceeds in exeess of the ne interest rate on the Bonds, and WHEREAS, during 1989 , the Sewer Se�rvi ce Enterprise Fund earned $118 , 850 in arbitrage interest , an�d WHEREAS, these funds must be transife red to the appropriate City Ageney Aceount for repayment to th,e ederal government, and WHEREAS, The Mayor pursuant to Seati n 10 .07 . 1 of the City Charter, does eertify that there are availajbl for appropriation revenues in exeess of those estimated in the 1�98 budget ; and WHEREAS, The Mayor recommends the ;fo lowing changes to the 1989 budget : I COUNCIL MEMBERS Requested by Department of: Yeas Nays � Dimond � Finance and Management Se�vices Loog In Fa�1or Goswitz Rettman B sche;n�� Again�t Y � � Sonnen �fJ Wilson ' � Form�pproved by City Attorney Adopted hy Council: Date Certified Yassed by Council Secretary � BY — By- /lpproved by Mavor: Date _ ' Approv Mayor for Submissio Co cil� By _ 1 � - � . - . � . . � ; ��9 , � � Current Amended Budget Changes Budget FINANCING PLAN _______ _______ _______ 260 Sewer Service Enterprise Fund 22221 SeWer Separation ; Construction Aecount 6602 Interest on Investments ; - 0 - 1 ,985 1 ,985 All Other Finaneing ' 7 ,750 ,000 - 0 - 7 , 750, 000 Total Financing 7 ,750 , 000 1 ,985 7 ,751 ,985 22222 Sewer Revenue � Bond Debt Serviee Account ' 6602 Interest on Investments ; - 0 - 116 , 865 116, 865 All Other Finaneing � 5 , 821 , 140 - 0 - 5 , 821 , 140 --------- ------- --------- Total Financing � 5 , 821 , 140 116 , 865 5 , 938 ,005 � � � � I 2 � � wHITE - C�Tr C�ERK COUQCII �/;-'��/� PINK 7FINANCE GITY OF 5 INT PAUL Y 7 CANARV - DEPARTMENT BI.UE - MAVOR File �O. � Council � esolution Presented By I Referred To I Committee: Date Out of Committee By I Date SPENDING PLAN i 260 Sewer Service Enterprise Fund � 22221 Sewer Separation , Construetion Aecount � 051�+ Operatip� Transfer Out � - 0 - 1 ,985 1 ,985 All Other Spending ; 7 ,750 , 000 - 0 - 7 , 750 , 000 � --------- ----- --------- Total Spending ' 7 ,750 ,000 1 ,985 7 ,751 , 985 22222 Sewer Revenue Bond Debt � Service Aecount ' 0514, Operating Transfer Out � - 0 - 116 , 865 116 , 865 All Other Spending � 5 , 821 , 140 - 0 - 5 , 821 , 1 �40 Total Spending � 5 , 821 , 140 116 , 865 5 , 938 ,005 NET CHANGE ; $118, 850 � RESOLVED, That the City Council app ves these changes to the 1989 budget . � ; Approval Recommended � _ ___ � � � Bud�et � r etor � COUNCIL MEMBERS � ment of: Yeas Nays Requested by Depart Dimond Finance and Manageme Services �� [n Favo�r Goswitz � Rettman sche;b�� _ Against, BY Sonnen � Q �° � � Wilson � � 2 l � Form Approved b City Att ne Adopted by Council: Date Certified P� -sed by Coun il Secretary � By � � By �,_ App by Mavor. D � _ �P 2 21989 � Appro d by Mayor for Submissio Co cil '�— B pvg�� S E P � p 198� 3 � . _ �,� � �,� �� F� �► ~t � - �S GREEI� ET No. ��°`�° �,►��.� �,�� . 5hir1 �.is - a9�-7 . Cm�n+�r � c�r G.era M�'0EpG001M�A0l1�11►llt oN1ECtoR lN�iMM`.f�IMf�6� . . _ ... ��. 1111YpF(ORI1f�IBT1INF1 , • . T Cit�Co�arcl.l :; . Tt�EA�+1�01��fOtiA?tI1�aA�._. � , �" ` I�!`�NAZ{M!�< .�_ ..� . . •�;•: •�� s�. •-�. .:,.� � : � : .s� �;?ltia rwv2�ic� estal�a3�a�b�et•�orp� '`,989►asfiitraqe�interea� earuin�;�the.bond, �+aoQ to �:;t,�e� a�opriatye Cit�s:� ae�cotmt far :, � ,., : .,� .,. . �:4°r°r�t. . .r�r,�,� �;..... :- , .,, � . � � . . .. . � . . . . . . .��:. . .... . . . ...,�- . � . _ .... - . . . . . .� � '!F'�i;� 'fi 'C�. . . . . .. . . . . . . � ... , M .. � . � . .. . ..,. . . . . �..�� ..r..Q��r��' ��.�� . . . ��.�. . . �� . . . . . � ��f � �� . . . � . —own�c�cou�r _ OFF1C�OF THE DIRECT4R s�oata w�oouNa.w�crner DEPARTI1�EiVT QF�IA�ANCE wm►�wa wae��e�,�s.au�nnn�m�aw,w�.wn�,w�..wn�x The �ax Refors:Act of 1986 leapos� strinqent reidu ts fox the r�orting, ttackinq and rebnte of arbitraqe inter t ` earnings �or tax exe�pt. bond funds. These arbitr qe ebate earnirtys are the interest earnings on bond proeeeds: in excess of the net iaterest rate on the bonds e receipted iato the ddit servicx•acoount for each bonQ issue. The noney is availat�=.. Dut aust be buaqeted far 1 9. ___ _ :. - y_�Y _;,,_ _ _ � _ � -,�. AqYtM�fAe��F Ar►IldYia '`T� City ia ia oo�p2laaor rsitl�tha� la� an�:the ia�.�proprist�l� for r�ate purpoaes.- , �, �' -,i:::..,� ��4 Y�I� fo� thaw�e��ia.qoo� �as it aI� t�e City to s�.+sside tl�-�one�n�tded Eor rebats to�:the fedsra2 �t. :+,. :,,s . . ,� , . :=.� -� . � t :�w: ow�c�rrp►a�� ,.,�.• .��-� -��-,tr�s� �to�. . .. � ._ .t.,. , _ To be�fn oo�pl#anoe Mlth the�Ia�r, th��ltg�,sqst e{.t�as#�itraqe-iateremt.e�ernin�:�• . .,°�' ; ' ' . ��_f'. _� _ ��i++ .. . .. . . ' . ��er�: � . � . . � � . . � � � ... . . � � .� � i`�i � . . . , � . : . � . _ . .}., .. � . . . ... . . .. e4.:,! � .. . . � . . � . _rt.dn � . . . . . O�IIQWY11�7MH�N�:IKICA!/ROYlD� �'i r.z �C Tb�a e��a��a�� to t1f�Imit, ta�. � , •�a�►1�bac.�taxabt�rt,��e.City�'a hiqt��is�,u�r Mvuld �-'�.{ :: : !a�' r..• '�(. �'x1�e?�:r ,":�'s.+'' . .. {.��e. '` �f�'� .. J � sa�d^ �H TM,{� ��"�4�R17+'�' '� :1 t.r'` t . . . .. d a �'SA '�} .. . � . : � � �- �� . � ,� ��` �t' . :. • � r;: 1.�' .-� . . .� � . .x, t " ��' y.: 'i'� -A�- r ' ��:: � •��9 � . . ' �'..� .' . . . C�IUnG.t�a;'��'��'� . . �:��, � / .. -� �4� . �; � s��r�lG 3�-.`"��.��" ` . - s? ', ' . '�5"•;i� a' � � � � `.;;: _ �" : ... �� n�n�.�oae�la�co�► �.' �:'. �?�,f,v�r.�`��O ,e �� t1NDN1�� In ereat vr�o�v� � 9� o�� _ AGtiYtiY NlAI��_ 4 hw�ow.�'n�(�x��r+l wt+wi�t�h'�ct%��D Resalmtion estabiishes qe for 1989: -� Boney 1aAset aside in debtli000unts for this expense. . • - ' ��=/�� " >.� . �._ ` � GITY OF � INT PAUL . ;��` � ,,�•t�:.�:.q ��:�SSj�ji;:p� �` OFFICE OF TIFiE IT'Y COUNCIL Commi#te Report � Finance Mana emen Personnel Committee Septem�er 11, 1989 I 1. Approval of minutes of August 21, 989, meeting. Approved 2a. Resolution 89-1427 - amending tfhe 989 budget and Approved adding $8,673 to the Financing �nd Spending Plans for G.O. Special Assessment, 19 7 nd 1988 Bonds- arbitrage interest ear.nings. (�ef rred from Council August 15) 2b. Resolution 89-1428 - amending the 989 budget and Approved adding $123,194 to the Financing a d Spending Plans for General Debt Service Fund, �198 � and 1988 Bonds- arbitrage interest earnings. ( ef rred from Council August 15) 2c. Resolution 89-1429 - amending t�e 989 budget and Approved adding 5118,850 to the Financin d Spending Plans for Sewer Service Bond Fund - rbi rage interest earnings. (Referred from Coun il ugust 15) 2d. Resolution 89-1430 - amending he 1989 budget and Approved adding $12,000 to the Financin� a d Spending Plans for powntown & 7th Place TIGO �eb Service - arbitrage interest earnings. (Referred ro Council August 15) 2e. Resolution 89-1431 - amending �he 1989 budget and Approved adding $7,000 to the Financing an Spending Plans for Park Nursery Development T�GO Debt Service - arbitrage interest earnings. (Re erred from Council August 15) 3. Resolution 89-1301 - amending �he 1989 budget by Approved adding $42,445 to the Financin a d Spending Plans for the Rental Dwelling Regist�at on Program. (Referred from Council July 25� 1 id over August 21) : 4. Resolution 89-1300 - amending the 1989 budget by Approved adding �10,800 to the Financin� a d Spending Plans for the Alarm Permit Program. i (R ferred from Council July 25) I I CITY HALL SEl✓E H FLOOR SAtNT PAUL, MINNESOTA 55102 8 •46 . I Finance Committee Report September 11, 1989 5. Resolution 89-1325 - amending the 1989 budget by Approved adding $30,000 to the Financing and Spending Plans in the Fire Department for new roof at Fire Station No. 10. (Referred from Council August 1) 6. Resolution 89-1423 - amending the 1989 budget by Approved adding $11,706 to the Financing and Spending Plans of General Fund - Fire Department salaries - overtime. {Referred from Council August 15) 7. Resolution 89-1424 - amending the 1989 budget and Approved adding $52,451.96 to the Financing and Spending Plans for Friends of the Library. (Referred from Council August 15) 8. Resolution 89-1425 - amending the 1989 budget and Approved adding $30,000 to the Financing and Spending Plans for Community Services Library materials. (Referred from Council August 15) 9. Resolution 89-1492 - amending the 1989 budget by Approved as amended adding $20,000 to the Financing and Spending Plans for physical examinations for potential city employees. (Referred from Council August 22) 10. Resolution 89-1521 - amending the 1989 budget by Approved adding $70,000 to the Financing and Spending Plans for the Public Works Traffic, Signal , Lighting and Maintenance fund. (Referred from Council August 29) 11. Resolution 89-1540 - amending the 1989 budget by Approved Substitute adding $246,151 to the Financing and Spending Plans Resolution for CIS computer upgrading. (Referred from Council August 31) 12. Resolution 89-1243 - approving the appointment by Denied the Mayor of James C. Sargent to serve as a Commis- sioner of the Civil Service Commission. (Referred from Council July 13, laid over July 31) 13. Resolution 89-1469 - authorizing district councils to Denied use funds allocated for neighborhood cleanup projects in addition to the Neighborhood Cleanup Day; and that District 15 Community Council is authorized to utilize its neighborhood cleanup allocation for printing and distribution of solid waste reduction and recycling brochure. (Referred from Council August 17) 14. Ordinance 89-1266 - amending Chapter 370 of the Approved Legislative Code pertaining to appointment of members to the Board of Examiners for Certificate of Competency holders. (Referred from Council July 25, laid over August 21)