87-115 WHITE - C�TV CLERK
PINK - FINANCE GITY OF SAINT PAUL Council � p?` /�`,
CANARV - DEPARTMENT File NO. a
Bl_UE - MAVOR
City Attny/JTH • .
,; unc l Resolution ---�
Presented By � � �
�
Referred To 1�U� � Committee: Date �^�� '�7
Out of Committee By Date
�
PRELIMIZTA?'Y RESOLUTION;
1987 GENERAL OBLIGATION BOND ISSUES
RESOLVED, That for the purpose of fundzng the Capital
Improvement Budget for 1987 , of funding certain street improve-
ments in connection with the storm water and sanitary sewer
separation program and of funding redevelopment project activities ,
the Council of the City of Saint Paul upon recommendation of its
Finance, Management and Personnel Committee, and in accordance
with appropriate statutory and charter provision, does hereby ;ive
vreliminary approval for the issuance of General Obli�ation Bonds
in 1987 as follo�as :
a) Capital Imnrovement Bonds in the estimated ag�regate
�rincipal of Ten Million Nine Hundred Thousand
($10, 900,000) Dollars ;
b) Street Paving Special Assessment P.evenue Bonds in the
estimated ag�regate principal of Two riillion Four
Hundred Thousand ($2 ,400 ,000) Dollars ; and
c) Urban P�enewal Bonds in the estimated aggregate prin-
cipal amount of Five Hundred Thousand ($500,000)
Dellars .
RESOLVED FURTHER That the Director, Denartment of Finance and
P�anagement Services is hereby authorized and directed to initiate
all necessary actions looking toward the sale of the aforementioned
bonds and to report to the Council his recommendations for the
offering and sale thereof and as to the feasibility of issuing cross-
over refunding bonds for the 1981 , 1983 and 1984 City Water Pollution
Abatement Bond issues no later than February 19 , 1987 .
COUNCILMEIV Requested by Department of:
Yeas p�eW Nays
�„ Finance and ManagementServices
Rettman In Favor
� �
Scheibel � �
Sonnen _ Ag81[1St BY
Tedesco
Wilson
Adopted by Council: Date �AN Z 9 �987 Form Ap e by City tto y
Certified Pas• ounc'I , t BY `
B}�
�L 1 ajt+!'d % � l',�,�U� Approv by Mayor for Submission to Council
t�pproved by Mavoy;� Da�t� �
gY —1-��y \��6--�'_�v - — BY
PIIBI.ISHED F E 3 7 - 1987
Financ - Treasur DEPARTMENT � �`��`s N� , 3472
.
Gar No�cstrem CONTACT
292-7016 � PHONE
January 20, 1987 DATE 1 e�� e�
AS_SIGN NUMBER FOR ROUTING ORDER (Clip All Locat�ions for Signature) : '
Department Director Director of Management/Mayor
� Finance and Management Services Director 3 City Clerk
Budget Director
1 City Attorney
WHAT WILL BE ACHIEVEb BY TAKING ACTION ON THE ATTACHED MATERIALS? (Purpose/
Rationale) :
The attached Council resolution gives the Director, Finance & Management �
Services, the authority to undertake action in preparation for General
Obligation bonds to be offered and sold.
COST/BENEFIT, BUDGETARY AND PERSONNEL IMPACTS ANTICIPATED:
For the purpose of funding the 1987 Capital Improvement Budget and the
possibility of refunding the 1981, 1983, and 1984 City Water Pollution
Abatement Bond.
FINANCING SOURCE AND BUDGET ACTIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa-
ture not re-
Total Amount of Transaction: quired if under
$10,00Q)
Funding Source:
Activity Number:
ATTACHMENTS (List and Number Al1 Attachments) :
1. Council Resolution '
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
x Yes No Council Resolution Required? Resolution Required? x Yes No
Yes No Insurance Required? Insurance Sufficient? Yes No
Yes No Insurance Attached:
(SEE REVERSE SIDE FOR INSTRUCTIONS)
Revised 12/84 �
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JAI�NARY 27, 1987
1• ?�pproval of minutes from meetfng held January 15, 1987. approved
2. Report by Finance Director Gene Schiller regarding review of several financial
management issues (laid over from January 15, 1987) . discussed
3. Le�tter of the Mayor transmitting Planning Commission recommendations on the
report entitl.ed "Committee Report on the Findings and Recommendations of the
Citizens Commission on Bonding and Financing Practices." laid over to 2/12
4. Letter of the State Department of Revenue transmitting Application No. 328587
of Barton Enterprises Inc. for reduction of certain real estate in the city
of Saint Paul. discussed
5. Resoluti:on establ.ishing the rate of pay for title of Real Estate Risk and
.Facilities_Managez in Grade 20, Section -E D 4, Professional Employees Supervisory
Standard Range of the Salarq Plan aad Rates of Compensation Resolution. " anproved
6. Resolution changing the grade for Civil Service Transaction Clerk II from
Grade 34 to Grade 36, Section I D 1, of the Salarq Plan and Rates of Compen-
sation Resolution. approved
7. Resolution amending the I987 budget by transferring �5,106 from Contingent
Reserve to Civic Organization Partnership Programs and authorizing payment to �
various organizations for contractual services. �proved at 1/15 meeting � �
8. Resolution adopting tfie 1988-1992 Program for Capital Improvement as part of •
the Comprehensive Plan, and for use in the Unified Capital Improvement Program ,
and Budget Process. a�proved �
9. Resolution adopting the 1988-1992 Program for Canital Improvement as part of
the Comprehensive Plan, and for use in the Unified Capital Improvement Program �
and Budget Process. a�proved �
10. `Restriut3�an df�rE�ti�g the Department of Finance aad Maaagemeat Sc�i►ic�s to
p�''�� far 298"T t�aeral Obligation Band sa�le. _app�oved
�_
li. Administrative Order:
D-8241: Additions of �800 to the Fuel Service Station Canopy Construction -
Project (laid over from January 15, 1987) . laid over� to I/29
�;:Y HALL , . � SEV�ITFi FI.00R
" SA,INT PA[TL,yiLYTtESOTA SSIOZ
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