88-1340 WHITE - CITV CLERK �
� PINK - FINANCE l = COUflCll �
� CANARV - DEPARTMENT GITY OF SAINT PAUL File� NO. ��'/��
BLUE - MA.YOR
. . �
Counc�l Resolution , -----�
.���� , � � ,
Presented By ''�----�'�
Referred To Committee: Date
Out of Committee By Date
RESOLUTION AUTHORIZING THE EXECUTION
AND DELIVERY OF A THIRD SUPPLEMENTAL
INDENTURE OF TRUST WITH RESPECT TO THE
$47 , 940 , 000 RESIDENTIAL REHABILITATION
REVENUE BONDS
WHEREAS ;
A. The City of Saint Paul ("City" ) acting by and through
The Housing and Redevelopment Authority of the City of
Saint Paul , Minnesota ("HRA" ) has issued its
$47 , 940 , 000 Residential Rehabilitation Revenue Bonds
dated as of December 1 , 1979 (the "Bonds" ) pursuant to
an Indenture of Trust dated as of December 1 , 1979 by
and among the City, the HRA and First Trust National
Association (formerly First Trust Company of Saint
Paul) (the "Trustee" ) ;
B . The Minneapolis/Saint Paul Housing Finance Board (the
"Board" ) will issue its $2 , 885 , 000 Single Family
Mortgage Revenue Bonds , Series 1988B (the "Refunding
Bonds" ) for the purpose , in part , of refunding
$1 , 745 , 000 of the Bonds ;
C . In connection with the issuance of the Refunding Bonds
and the application of a portion of the proceeds
thereof to refund certain of the Bonds , it is necessary
� and desirable that the City enter into a supplemental
indenture of trust ;
COUNCILME[V Requested by Department of:
Yeas Nays
[n Favor �
Against BY
Adopted by Council: Date Form Approved by City Attorney
Certified Passed by Council Secretary By �9Z�i�i�f.�v•
By
A►pproved by 1Aavor: Date 1 Approve May or ion to Conncil
By BY `
, � , . ��-/3 yd
NOW THEREFORE , BE IT RESOLVED by the City Council of the
City of Saint Paul , Minnesota , as follows :
l . There has been presented and there is now before this
Council a form of Third Supplemental Indenture of Trust
to be dated as of August 1 , 1988 (the "Third
Supplement" ) providing for the deposit of a portion of
the proceeds of the Refunding Bonds with the Trustee ,
and application of the monies so deposited to pay at
maturity or upon prepayment $1 , 745 , 000 of principal
amount of the Bonds maturing or to be prepaid on
September 1 , 1988 . The Third Supplement is hereby
approved in substantially the form submitted to this
Council , provided that such variations , changes or
modifications may be made therein as may be necessary
or desirable to effectuate the purposes thereof if such
changes , variances or modifications are approved by
Bond Counsel and by the City Attorney as not
pre�udicial to the interests of the Issuer. Execution
of the Third Supplement by the officers of the City
designated below shall constitute conclusive evidence
of acceptance by the Issuer of the Third Supplement in
final form.
2 . The Mayor , Director of Finance and Management Services
and Director of Planning and Economic Development are
hereby suthorized and directed to execute and deliver
the Third Supplement and to cause the seal of the City
to be affixed thereto , such execution and seal to be
attested to by the City Clerk, all upon approval of the
form thereof by the Office of the City Attorney. In
the absence or disability of any of the officers of the
City designated, any other duly authorized officer of
the City is hereby authorized and direct to execute and
2
WHITE - GTV CLERK �
• PfNK - FINANCE GITY OF� SA�INT PAUL Council
CANARY - OEPARTMENT F1Ie NO. ���/���
BLUE - MAVOR
• '. ' �
Council Resolution
Presented By
__ Referred To Committee: - Date
Out of Committee By Date
deliver the Third Supplment in their place and stead.
3 . This Council hereby determines , pursuant to Section
10-1 of the Indenture , that the Third Supplement is a
Supplemental Indenture of Trust authorized thereby as a
Supplemntal Indenture of Trust whose terms are not
prejudicial to the interests of the Bondholders .
4 . This Resolution shall take effect immediately.
COUNCILMEN Requested by Department of:
Yeas DimOnd Nays
Goswitz ' �,w..�-
Long [n Favor
Rettman � �
Scheibel
Against BY
Sonnen
W].1SOn AUG 161988 Form Approved by City Attorney
Adopted by Council: Date
Certified Pass uncil Se t BY ��'4��
By i
Appr by 1Aavor: ate UG ,' `� 1 3 Approve y May o Subm sion to Counc'
By
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�SIGN NUMBER FOR ROUTING ORDER (Clip A11 Lacations for Signature) :
L Departme�t Director � Qirector of Managemen�/Mayor
� Finance and Management Services Director � City Clerk
� Budget Director ,� ,,,(J �,� %�..AS��,:/y�
� City Attorney __ ____
I�HAT WILL BE ACHI�VED BY TAKING ACTION ON THE ATTACHED MATERIALS? (Purpose/
Rationale) :
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t�TST/6ENEFIT, BUDGETARY AND PERSONNEL IMPACTS ANTICIPATED: t�
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FINAMCING SOURCE AND BUDGET ACTIVITY NU{NBER C.�IARGED OR CREDITED: (Mayor's signa- ,
ture not re-
Total Amaunt of "Transaction: quired if under
' $10,00Q)
Fu�ding Source: �—
Activity Number: •
ATTACHMENTS (List and Number All AttacFunents) :
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DEPARTMENT REVIEW CITY ATTpRNEY REVIEW
✓Yes No Council Resolution Required? ' Resolutian Required? vYes No
es No Insurance Required? insurartce Sufficient? Yes No
No Insurance Attached:
(SEE •RE�1fRSE SIDE FOR INSTRUCTIONS) _ �
Revised 12/84