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89-1431 � I� WMITE - C�TV CLERK II PINK� - FINANCE C011I1C11 • CAj.;ARV - DEPARTMENT CITY OF AINT PAUL BI.UE - MAVOR File NO• `/ / Coun ", � esolution ��; �_.� Presented By eferred To Committee: Date ' S Out of Committee By Date WHEREAS, federal law mandates string nt requirements for the report- ing, tracking, and rebate of arbitr e earnings for tax exempt bond funds, and WHEREAS, the law also grants a te#� year temporary period free from yield restrietions on certain deb erviee funds, and WHEREAS, the ten year temporary p riod has elapsed for the Park Nurs- ery Tax Inerement debt serviee fu ds and therefore, because of the complexity of interpreting this 1 w, it is neeessary to hire bond Qounsel to determine the amounts ub3ect to arbitrage and define the arbitrage earnings, and WHEREAS, expenditures for this ta$k are pro�eeted to be in the amount of $7 ,000 in total for the one bo#�d issue in the Park Nursery Tax Inerement Distriet , and WHEREAS, this $7 ,000 expenditure will be paid from interest earnings on the Park Nursery Tax Inerement F nd, and WHEREAS, The Mayor pursuant to Se�t on 10 .07 . 1 of the City Charter, does certify that there are availab e for appropriation revenues in exeess of those estimated in the 19 9 budget ; and WHEREAS, The Mayor reeommends the f llowing changes to the 1989 budget: COUNCIL MEMBERS f• Yeas Nays Requested by Department o . Dimond Finance and Management Services t.o� In Favor Goswitz � n / Rettman �be1�l _ Against BY Sonnen � � Wilson �f ' Form Approved by City Attorney Adopted by Council: Date Cer2ified Passed by Council Secretary By / By s t�pproved by �Vlavor. Date _ ' _ Appr e by Mayor for Submi t Counci By B 1 ` ' - ._ _ . - �- - r. . � . , � . � ��q--i�3� �� io� F�� z$�� GREEN SH�- T . ao. �� t ��»..� � �►�„� Shirle��Davia- Z8Z-7038 A1'T�O�r �'� GRr►d.twt wa�o�e�r,�wrar��cp� oa�cron s� t�n: }: p� . TOTA�.�t�lIONAt'tM�PAAl� (�I.IR'Al4 . l�01��10lf�ttN� ,`� . . �. _[.p!1"� .�' ''i.:f.k�iti� . . . - . � � .. .. �Cr.. :t. � . . ._ .. . Th3s. reealution estab3isLes��bo8q�.tot py�'�bi t�aogar't0�tllese aspeosaes is..iatsrat;°�erntnqs `az�Q�Ss ava3labls. . � �;,, ; �.r ... t. _ �PV�e�• a► .•. , _.,w�w�a ooriw�oN �a��,00�e�cw "�"�`� ��/��N°` �cs oowrm� _ —�� _. °°�.�.",� �UN 2 91989 �oisn�cr oo� QFFIC a�va►1s w�oour�os�ccmr�r � E?EPqRt�f rHE OIRE�i`. . rNn�n��o�,rest�.oPVartu+mr�na,wti+.wa�n.wn�v� �� F�eral laK qrants a 10 peas te�porarp period free f y �ld.'restricti� fo��lis CE �ic�fuacls. This 10 pear teaporarp period has elapsed for Park Nursery {1� d issue) and�Darntorn�and��i�i�ii�� i3 l�nd issues� tax incr�ent bond issues. It rras necessary to hire nd. to deternine the a�wunts svbject to arbitrage and define tbe arbitrage earnings. � . :•. 'yr;.. . . , �otnwr��r�nov� The.Cits �rill aeet feAtra2 reyulatioaa conotraiag a�b and dabt �ibe�funds�t�y aas�erinQ ths;tax e�tevpt sLatns.for holders of Citg bonds: - '. � � .r�f!'.T. �� .� . . . !:. . . . 6�r .. . : . . . , a� r��.:. i . ... � _�� , . . . .. -, .t. # . . , ' �. , i$: . � . - ... ' $ ., �', ?'.. . .. . . � ��i�� . . .-..., .. �.,i:e. � � � . . � . . :M'r,,... �� . . .. . ... , . . .. . . . . . _. . .. - �• : RECEtVED � The Citg �st ooufors to tt�e lax to preserve ttie tas �atatus. , . ,._ �:,.., � _ - .� -�L,2,�. 19$9 . : ,�;��.�::c��=�,.,� . . � . _ o�ov�wr�oes�war�..�a�c . {�: City Bo�aida�.oaerid,be�o�a tasaD2��.tlta City.rowtt4�#+a�c 3ifi�la��aa�rlt+er� g2acey:and�`tDr:poesii�l�,o�, ,a lar�s cse��ratiag. ;�„,=.!�.� �;;" . _... �:�� j_,w�� - . , � . .. �: . �� . �r.. . ,~.- J �rr,�e��1.r• � �ES }� '.� ; �: _ �Cou�c�l earc�i ��nter � 'A ��:s,. �� :�> .,;: s . �AUG�°��9 a.v' _ :�, .. . . . . ' , . .;�; .. . . � . _ ... . , ��a��(i'li1C-� OIt ' a`"� ��CIIICLE aNl� 11� N0� w�o,ou�e � �9/l5' �wcw.N�aa+w►,�o��q ' /9�- � • ,.G/ t� Ly�ID.�!%C� - � r/ �� II � - .. . � � �� -�/c��J � , Current Amended Budget Changes Budget FINANCING PLAN ------- ------- ------- 968 Park Nursery Development TIGO Fund 89115 Park Nursery Development TIGO Debt Serviee Aceount 6602 Interest on Investments - 0 - 7 ,000 7 ,000 Al1 Other Financing 455 , 075 - 0 - 455 , 075 ---------- ------ ------- 455 , 075 7 ,000 462 , 075 i � 2 . � WHITE - C�TV CLERK PINK� - FINANCE G I TY OF �S I NT PAU L Council ///1 • •BLUERV - MAVORTMENT File NO. / • I /�� - � Council ; esolution Presented By Referred To Committee: Date Out of Committee By Date I SPENDING PLAN 968 Park Nursery Development ; TIGO Fund i 89115 Park Nursery Development TIGO Debt Serviee Aecount � i 0605 Arbitrage Expense - 0 - 7 ,000 7 ,000 All Other Financing i 455 , 075 - 0 - 455 , 075 --------- ------ ------- Total Spending ! 455 , 075 7 ,000 462 , 075 NET CHANGE � $7 ,000 i RESOLVED, That the City Council aplpr ves these ehanges to the 1989 budget . � j Approval Recommended I ' ��FJ�L. Budget i etor � i i COUNCIL MEMBERS Requested by Department of: Yeas Nays i Dimond Finance and Management Services �� In Favor � -- �5�� a xettmao Scheibel A gai n s t i BY Sonnen � Wilson I � 2 f �g i Form Approved by City Attorney Adopted by Council: Date r Certified • sed by Council Secretar I BY— �t��-l� z B}.` ✓ �•-�r1'�Lr i �..- Appro by iVlavor: Date � �-�� Appro d y Mayor for Submissio Co cil B pUBt1� S E P � O 1�� 3 � I . . : . . i. .... _. __. _..._... . . . 1 . �� q-/�� :. . ,; . �,.t � � ' ;. ,,,��,?;`�� GITY O!F +AINT PAUL � ��SIS4 eI;:IJ . .. ` � _ OFFICE(�F HE CITY COUNCIL Com�ni ee Report - Finance Mana emi n & Personnel Committee Sep�em er 11, 1989 1. Approval of minutes of Augus� 2 , 1989, meeting. Approved 2a. Resolution 89-1427 - amendin t e 1989 budget and Approved adding $8,673 to the Financi�g nd Spending Plans for G.O. Special Assessment, 119 7 and 1988 Bonds- arbitrage interest ear.nings. i ( ferred from Council August 15) 2b. Resolution 89-1428 - amending t 1989 budget and Approved adding $123,194 to the Finanain and Spending Plans for General Debt Service Fundj, 1 87� and 1988 Bonds- � arbitrage interest earnings. , ( ferred from Council August 15) , 2c. Resolution 89-1429 - amending� th 1989 budget and Approved adding $118,850 to the Financing and Spending Plans for Sewer Service Bond Fund - ar itrage interest earnings. (Referred from Couhci August 15) 2d. Resolution 89-1430 - amendingl' th 1989 budget and Approved adding $12,000 to the Financing nd Spending Plans for powntown & 7th Place TIGO� De t Service - arbitrage interest earnings. (Referred� fr m Council Au ust 15 e. esolution 89-1431 - amendinglth 1989 budget and Approved adding 57,000 to the Financin� a d Spending Plans for Park Nursery Development IG Debt Service - arbitrage interest earnings. i (R ferred from Council August 15) 3. Resolution 89-1301 - amending�� th 1989 budget by Approved adding $42,445 to the Financi ' g nd Spending Plans for the Rental Dwelling Regis ra ion Program. (Referred from Council July 2 , aid over August 21) - : 4. Resolution 89-1300 - amending' th 1989 budget by Approved. adding �10,800 to the Financi�hg nd Spending Plans for the Alarm Permit Program. ' ( eferred from Council July 25) I AINT PAUL MINNESOTA 55102 CITY HALL SENE TH FLOOR s . I �.46 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)