87-342 WHITE - C�TV CLERK �
PINK - FINANCE COVnCII L/�I
CAN4RV - DEPARTMENT GIT� GF SAINT PAUL File NO. `� � � ���,
B:UE - MpV OR
� � c.il Resolutipn
� �
Presented By � �
Referred To Committee: Date
Out of Committee By Date
RESOLUTION APPROVING APPLICATION OF
3N P ERTIES/ADDCJO MFG.-NIC�iOI.SON (!O. �'OR CLASSIFICATI�1
OF PRQPERTY LOC'ATID IN TEIE SA�I�TT PAUL
RIVERFRC�JI' EI�TI'ERPRISE ZONE AS CIASS 4d
EI�IAYMII�Tr PROPEI�TY
Tn1f�REA.S, 3N Pro rties/ADDO� Manufacturing-Nicholsbn Canpany (the "Cunpany") filed
with the City Clerk a Application for classification of its property located north of
E�mpire Drive in Eanpir Builder Industrial Park as�Emplo�nent Property pursuant to
Minnesota Statutes Se ion 273.1313 and the Saint Paul Riverfront Enterprise Zone Program
(the "Program"); and
WHEREAS, the n investment, tax classification, alnd State tax credits as set forth
in detail in the Feb ry 18, 1987 Staff Report will r�sult in the creation of 7 ne�a
positions in Saint P with the o�nstruction of a new �24,908 square foot manufacturing
facility for ADD00 nufacturing and Nichplson Canpany� and
WHEREAS, there s been presented to and consider�d at this meeting a Participation
Agreement betw�een t City and the Canpany whereby the Canpany covenants respecting the
oanpletion of prope y improvements; and
W�REAS, tl� Po Authority of the City of Saint laul has received authorization frcm
�
the Department of rgy and Econcanic Development to �tilize an alternative local
eontribution of inf structure improvements in lieu o , local property tax reduction; and
WEIEREA.S, the C'ty Clerk duly published on Februa�y 14, 1987, in the Saint Paul Legal
L�edger, the off icia newspaper fqr the City a notice of public hearing before the City
Council upon the C y's AppliCation; and
WHEREAS, Distr ct 6 and 7 Planning Councils have reviewed and reoo�r�ended approval of
the Application; an
COUNC[LMEN Requeste�d by Department of:
Yeas Drew Nays i
Nicosia �_ (n Favor �-�`���
Rettman
Scheibel �
Sonnen __ Agalllst BY �
Tedesco
Wilson �
Form A proved by City Attorney
Adopted by Council: Da e
r�
Certified Passed by Council S cretary B
�
Bl' � n
Approved by ;Navor: Date _ Appro ' Mayor for Sub ' sio ` ouncil
By _ _ — B
WNITE - CITV CIERK
PINK - FINANGE GITY OF SAINT F'�AUL Council �17 ��/
CANARV - OEPARTMENT File NO• /
BLUE - MAVOR
C uncil Resol�tion
r
Presented By '
Referred To Committee: Date
Out of Committee B ' Date
ACCEPTING BID ON SA�E OF
$500,000 GENERAL OBLIGATION! URBAN RENEWAL
BONDS, SERIES 19$7 ,
PROVIDING FOR THEIR ISSUANCE, AND
LEVYING A TAX FOR THE PAYI�IENT THEREOF
WHEREAS, the Director, Department of Finance and
Managemen Services, has presented affa.davits showing
publicati n of notice of the sale of $500,000 General
Obligatio Urban Renewal Bonds, Series 1987 (the "Bonds" ) , of
the City f Saint Paul, Minnesota (the'' "City" ) , for which bids
were to b received at this meeting in accordance with
Resolutio No. 87-189 adopted by this City Council on
February 9, 1987, and approved by the Mayor on February 19,
1987; and the affidavits have been exannined, have been found to
comply wi h the provisions of Minnesota Statutes, Chapter 475,
and have een approved and ordered placed on file; and
WHEREAS, the bids set forth on Exhibit A attached
hereto we e received pursuant to the O�ficial Terms of Offering
by the Di ector, Department of Finance, and Management Services,
at the of ices of Sp�ingsted Incorpora ed at 1:00 P.M. , Central
Time, on arch 16, 1987; and �
COUIVCILMEN Request d by Department of:
Yeas Drew Nays I
N"°S'a [n Favor
Rettman
Scheibel
Sonnen __ �AgalnSt BY
Tedesco
Wilson
Adopted by Council: Da e Form Ap roved by City Attor
Certified Passed by Council S cretary BY �
By
Approved by Mavor: Date _ Appr e by Mayor for Sub si t�a C ncil
BY - – — 8
.
WH REAS, the Director, Department of Finance and
Manayement Services, has advised this Council that the bid of
The First Na ional Bank of Saint Paul was found to be the most
advantayeous and has recommended that said bid be accepted; and
WH REAS, this Council hereby finds, determines and
declares tha :
i) there is not first available in any annual
increme t period under Title I of the Federal Housing Act
of 1949, as amended, sufficient urban renewal development
capital grant money for the payment of costs for approved
project activities and improvements in the Downtown
Redevel pment Project, which is an urban renewal
develo ent project which has heretqfore been designated
and ap roved in the manner provided ;by law pursuant to the
provis 'ons of Subdivisions 1 and 2 c�f Section 1 of Laws of
Minnes ta for 1963, Chapter 881 , as ; amended (the "Urban
Renewa Law" ) ; and
ii) pursuant to Section 1 of the Urban Renewal
Law, t e City is authorized to issue bonds in the t�ta1
amount of $43, 400,000 for paying certain project costs of
urban enewal development or code e;nforcement projects
desiyn ted by The Housing and Redev;elopment Authority of
the Ci y of Saint Paul, Minnesota, ;or the City in the
manne provided by law and for payi;ng any remaining costs
of mu icipal buildings and improve�ents to be constructed
withi or adjacent to the project area; and
iii) the City has heretofore issued $41,625,OU0 of
bonds pursuant to the authority co�tained in Section 1 of
• the U ban Renewal Law; and
( iv) $2,005,000 of bonds have heretofore been
issue pursuant to the authority contained in Subdivision
3 of ection 1 of the Urban Renewal Law (which subdivision
� was a ded by Laws of Minnesota for 1975, Chapter 260) ; and
(v) the City is thereFore authorized to issue the
Bond pursuant to the authority contained in Subdivision 3
of S ction 1 of the Urban Renewal Law, and the Council
does hereby authorize the issuance of the Bonds in the
amou t of $SU0,000 for the payment of up to the entire
proj ct cost of the Downtown Redevelopment Project, an -
urba renewal development project; and
2
- ' i
4VHE AS, the proceeds of the Bonds will finance u�� to
the entire pr ject cost for an urban renewal develooment:
project desig ated under the provisions of Section 1 of the
Urban Renewal Law, specifically a skyway bridge from the World
Trade Center cross Eighth Street to a pub�.ic parking ramp, all
in the Downto n Redevelo�ment Project; and
WHE EAS, the City has heretofore issued registered
obligations i certificated form, and incurs substantial costs
associated wi h their printing and issuance, and substantial
continuing tr nsaction costs relating to their payment�
transfer and xchange; and ,
WHE EAS, the City has determinec� again in 1987 that
significant vings in transaction costs �ill result from
issuing bonds in "global book-entry form" ,i by which bonds are
issued in ce tificated form in large deno�iinations, registered
on the books of the City in the name of a � depository or its
nominee, and held in safekeeping and immol�ilized by such
depository, nd such depository as part of the computerized
national sec rities clearance and settlement system (the
"National Sy tem") registers transfers of ownership interests
in the bonds by making computerized book entries on its own
books and di tributes payments on the boni�s to its Participants
shown on its books as the owners of such !interests; and such
Participants and other banks, brokers andj dealers participating
in the Natio al System will do likewise (�again, not as agents
of the City) if not the beneficial ownersl of the bonds; and
W EREAS , "Participants" means �hose financial
institutions for whom the De�ository eff�cts book-entry
transfers a d pledges of securities depo�ited and immobilized
with the De ository; and �
W EREAS, Midwest Securities Trust Company, a limited
purpose tru t company organized under the laws of the State of
Illinois, o any of its successors or su�cessors to its
functions h reunder ( the "Depository" ) , will act as such
depository ith respect to the Bonds except as set forth below,
and there i before this Council a form of letter agreement
(the "Depos tory Letter Agreement" ) setting forth various
matters rel ting to the Depository and its role with respect to
the Bonds; nd
3
WH REAS, the City will deliver the Bonds in the form
of one certi icate per maturity, each representing the entire
principal am unt of the Bonds du� on a particular maturity date
(each a "Glo al Certificate" ) , which single certificate �er
maturity may be transferred on the City' s bond register as
required by he Uniform Commercial Code, but not exchanyed for
smaller deno inations unless the City determines to issue
Replacement nds as provided below; and
- WH REAS, the City will be able to replace the
Depository o under certain circumstances to abandon the
"global book entry form" by permitting the Global Certificates
to be exchan ed for smaller denominations . typical of ordinary
bonds regis red on the City' s bond regiSter; and "Replacement
Bonds" mean the certificates representir�g the Bonds so
authenticat d and delivered by the Bond Ptegistrar pursuant to
paragraphs and 13 hereof; and
W EREAS, "Holder" as used herein means the person in
whose name 13ond is registered on the registration books of
the City ma ntained by the City Treasurer or a successor
reyistrar a pointed as provided in parayraph 9 (the "Bond
Registrar" )
N W, THEREEORE, t3E IT RESOLVED by the Council of the
City ot Sai t Paul, Minnesota, as followjs:
Acceptance of Bid. The bud of The First National
Bank of Sa ' nt Paul (the "Purchaser" ) to purchase $SOO ,OUO
General Ob igation Urban Renewal Bonds , Series 1987, of the
City (here ' nafter referred to as the "BOnds" , or individually
as a "eond' ) , in accordance with the Official Terms of Offering
for the bo d sale, at the rates of interest hereinafter set
forth, and to pay therefor the sum of $994, 150, plus interest
accrued to settlement, is hereby found , determined and declared
to be the ost favorable bid received and is hereby accepted,
and the Bo ds are hereby awarded to said bidder. The Director,
Department of Finance and Management Services, or his designee ,
is directe to retain the deposit of said bidder and to
forthwitn return to the unsuccessful bidders their good faith
cnecks or rafts.
2. Title; Original Issue Dai�e; Denominations;
Maturitie . The Bonds shall be titled ! "General Obligation
Urban Ren wal E3onds, Series 1987" , sha�l be dated April 1 ,
1987, as he date of original issue an shall be issued
�
4
forthwith on o after such date as fully registered bonds. The
Bonds shall be numbered from R-1 upward. Global Certificates
shall each be ' n the denomination of the entire principal
amount maturin on a single date. Replace�ent Bonds, if issued
as provided in paragraph 7 � shall be in the denomination of
$5 ,000 each o in any integral multiple thereof of a single
maturity. Th Bonds shall mature, without option of
prepayment, o March 1 in the years and amounts as follows:
Year Amount Year Amount
1988 $50,000 1993 � $50 ,000
1989 50,000 1994 i 50 ,000
1990 50,000 1995 � 50r000
1991 50 ,000 1996 i 50 ,000
1992 50,000 1997 50,000
3. Purpose. The Bonds shall p�ovide funds for the
construction of a skyway bridge from the �orld Trade Center
across Eight Street to a public parking �amp ( the
"Improvement ") in the City, and for the further payment of any
remaining co t of municipal buildings and improvements to be
constructed ithin or adjacent to the project area of the
Downtown Red velopment Project. The proceeds of the Bonds
shall be dep sited and used as provided in paragraph 18, for
the purpose escribed by Laws of Minnesota for 1963, Chapter
881, as amen ed ( the "Urban Renewal Law" ) . Despite the
allocation o proceeds of the Bonds made in the preceding
sentences of this paragraph, the proceeds of the Bonds shall be
subject to r allocation in purpose and amount consistent with
the laws und r which the Bonds are autho�ized to be issued, and
the use of a y such reallocated proceeds 'shall from and after
the realloc tion be treated as, or as part of, the
"Improvemen s" ; provided, that no part of the proceeds of the
issuance an sale of any of the Bonds shall be made the subject
of any real ocation or disbursement excePt for the purpose of
the payment or defrayment of the City' s obligations assumed
under and a thorized by said laws with respect to one or more
of the seve al urban renewal development or code enforcement
projects (i cluding municipal buildings and improvements to be
constructed within or adjacent to said project areas)
authorized hereunder. The total cost of the Improvements,
which shall include all costs enumerated in Minnesota Statutes,
Section 475 65, is estimated to be at least equal to the amount
of the Bond . Work on the Improvements shall proceed with due
diligence t completion.
i
5
4 . Interest. The Bonds shall bear interest payable
semiannually on March 1 and September 1 of each year,
commencing S ptember 1 , 1987, calculated on the basis of a
360-day year of twelve 30-day months, at the respective rates
per annum s t forth opposite the maturity years as follows:
Maturi Year Interest Rate Maturity Year Interest Rate
198 3 .80$ 1993 5 .00$
198 4.00 1994 5 .20
199 4 .25 1995 5.40
199 4 .50 19�6 5 .55
199 4 .75 1997 5.70
5 5ubcommittee. This Counciil hereby ratifies and
approves ea h and every act of its subcolnmittee on Finance and
Sinking Fun s in connection with the sale of the Bonds.
1
6 . Description of the G1obal �Certificates and Global
kiook-Entr S stem. Upon t eir original !issuance t e Bon s wi
be issued in the form of a single Global� Certificate for each
maturity, eposited with the Depository !by the Purchaser and
immobilize as provided in paragraph 7. i No beneficial owners
of interes s in the Bonds will receive �ertificates
representi y their respective interestslin the Bonds except as
provided i paragraph 7 . Except as so �rovided, during the
term of th Bonds, beneficial ownership' (and subsequent
transfers f beneficial ownership) of interests in the Global
Certificat s will be reflected by book �ntries made on the
records of the Depository and its Parti�ipants and other banks ,
brokers, a d dealers participatiny in t e National System. The
Depository s book entries of beneficiall ownership interests are
authorized to be in increments of $S,UOIO of principal of the
eonds, des ite the larger authorized d�nominations oE the
Global Cer ificates. Pay�nent of princ�pal of, premium, if any,
and interest on the Global Certificate� will be made to the
Bond Reyistr.ar as paying agent, and in �turn by the Bond
Kegistrar to the Depository or its nomi�nee as registered owner
of the G1 bal Certificates, and the De�ository accordiny to the
laws and ules governing it will recei�e and forward payments
on behalf of the beneficial owners of i�he Global Certificates.
Paym nt oF principal of, premium, � if any, and interest on
a Global ertificate may in the City'sidiscretion be made by
such othe method of transferring fund� as may be requested by
the Holde of a Global Certificate. i
i
6
. - - .- i . -. .-
7 . Immobilization of Global Certificates b the
De ositor ; S ccessor De ositor ; Re lacement Bonds. Pursuant
to the reques of the Purchaser to the Depository, which
request is re uired by the Official Terms of Offering ,
immediately u on the original delivery of the Bonds the
Purchaser wil deposit the Global Certificates representing all
of the Bonds ith the Depository or its agent� the main office
of the Fourth U.S. Federal Reserve District Bank. The Global
Certificates hall be in typewritten form or otherwise as
acceptable to the Depository, shall be reg'istered in the name
of the Deposi ory or its nominee and shall be held immobilized
from circulat'on at the offices of the Depository or said agent
on behalf of he Purchaser and subsequent bondowners. The
Depository or its nominee will be the sole holder of record of
the Global C rtificates and no investor or other party
purchasing , elling or otherwise transferring ownership of
interests in any Bond is to receive, hold or deliver any bond
certificates so long as the Depository holds the Global
Certificates immobilized from circulation, except as provided
below in thi paragraph and in paragraph 13 .
Certifi ates evidencing the Bonds may not after their
original del very be transferred or exchanged exce�t:
( i) Upon registration of transfer of ownership of
a Globa Certificate, as provided ir�' paragraph 13 ,
.
( ii) To any successor of the ;Depository (or its
nomine ) or any substitute deposito�y (a "substitute
deposi ory") designated pursuant toiclause ( iii) of this
subpar graph, provided that any suc�essor of the
Deposi ory or any substitute depository must be both a
"clear' ng corPoration" as defined i� the Minnesota Uniform
Commer ial Code at Minnesota Statut�s, Section 336.8-102 �
and a ualified and registered "cle�ring agency" as
provid d in Section 17A of the Secui'rities Exchange Act of
1934, s amended, �
( ii) To a substitute depository designated by and
accept ble to the City upon (a) the determination by the
Deposi ory that the Bonds shall no longer be eligible for
its depository services or (b) a determination by the City
that the Depository is no longer able to carry out its
funct'ons, provided that� any substitute depository must be
quali ied to act as such , as provided in clause ( ii) of
this ubparagraph, or
7
( iv) To those persons to whom transfer is requested
in writt n transfer instructions in the event that:
(a) the Depository shall resign or discontinue
its services for the Bonds and the City is unable to
loc te a substitute depository within two (2) months
fol owing the resignation or determination of non-
eli ibility, or
(b) upon a determination by the City in its
sol discretion that (1) the continuation of the book-
ent y system described herein, which precludes the
iss ance of certificates (other than Global
Cer ificates) to any Holder other than the Depository
(o its nominee) , might adversely affect the interest
of the beneficial owners of the Bonds, or (2) that it
is in the best interest of the beneficial owners of
th Bonds that they be able to dbtain certificated
bo ds,
in eith r of which events the City shall notify Holders of
its det rmination and of the availability of certificates
( the "R placement Bonds") to Holders requesting the same
and the registration, transfer and exchange of such Bonds
will be conducted as provided in par�graphs lOB and 13
hereof. i
In the event of a succession ofi the Depository as may
be authorize by this paragraph, the Bondi Registrar upon
presentation of Global Certificates sha1L register their
transfer to the substitute or successor �epositories, and the
substitute o successor depository shall 'be treated as the
Depository f r all purposes and functions under this �
resolution. The Depository Letter Agree�ent shall not apply to
a substitut or successor depository unless the City and the
substitute r successor depository so agzee, and a similar
agreement m y be entered into. '
8 No Redemption. The Bonds Shall not be subject to
redemption nd prepayment prior to theirimaturity.
9 Bond Registrar. The Treasurer of the City is
appointed t act as bond registrar and t�ransfer agent with
respect to he Bonds (the "Bond Registra�" ) , and shall do so
unless and ntil a successor Bond Regist;rar is duly appointed.
A successor Bond Registrar shall be an o�fficer of the City or a
i
8
bank or trust company eligible for designation as bond
registrar pur uant to Minnesota Statutes, Chapter 475 , and may
be appointed � ursuant to any contract the City and such
successor Bon Registrar shall execute whi�h is consistent
herewith. Th Bond Registrar shall also s�rve as paying agent
unless and un il a successor paying agent ;�s duly appointed.
Principal and interest on the Bonds shall be paid to the
Holders (or r cord holders) of the Bonds in the manner set
forth in the orms of Bond and paragraph 15 of this resolution.
10. Forms of Bond. The Bonds to be issued hereunder
shall be in t e form of Global Certificates unless and until
Replacement B nds are made available as provided in paragraph
7 . Each for of bond may contain such additional or different
terms and pr visions as to the form of pajtment, record date,
notices and ther matters as are consistent with the Depository
Letter Agree ent and approved by the City Attorney.
A. Global Certificates. The Global Certificates to
be issued he eunder� together with the Certificate of
Registration the form of Assignment and the registration
information hereon, shall be in substantially the following
form and may be typewritten rather than printed:
9
i
UNITED STATES OF AMERICA
STATE OF MINNESOTA
RAMSEY COUNTY
CITY OF SAINT PAUL
R- $
GENERAL OBLIGATION URBAN RENEWAL
BOND, SERIES 1987
INTEREST MATURITY DATE OF
RATE DATE ORIGINAL ISSIIE CUSIP
March 1 , 19 April 1 , 1987
REGISTERED OW ER:
PRINCIPAL AM UNT: DOLLARS
KN W ALL PERSONS BY THESE PRESE�ITS that the City of
Saint Paul , amsey County, Minnesota ( the' "Issuer" or "City" ) ,
certifies th t it is indebted and for value received promises
to pay to th registered owner sPecified �bove or on the
certificate f registration below, or reg�.stered assigns,
without opti n of prepayment, in the manruer hereinafter set
forth, the p incipal amount specified abo�ve , on the maturity
date specifi d above, and to pay interest� thereon semiannually
on March 1 a d September 1 of each year (ieach, an "Interest
Payment Date" ) , commencing September 1 , 1�987 , at the rate per
annum specif ' ed above (calculated on theibasis of a 360-day
year of twe ve 30-day months) until the �rincipal sum is paid
or has been provided for. This Bond will� bear interest from
the most re ent Interest Payment Date toiwhich interest has
been paid o , if no interest has been pa�.d, from the date of
original is ue hereof. The principal of and premium, if any,
on this Bon are payable by check or draft in next day funds or
its equival nt (or by wire transfer in immediately available
funds if pa ment in such form is necessary to meet the timing
requirement below) upon presentation an�3 surrender hereof at
the princip 1 office of the Treasurer of' the Issuer in Saint
Paul, Minne ota (the "Bond Registrar" ) , �acting as paying aqent,
or any succ ssor paying agent duly appoi�nted by the Issuer.
Interest on this Bond will be paid on each Interest Payment
Date by che k or draft in next day funds; or its equivalent
mailed (or by wire transfer in immediat�ly available funds if
10
payment in su h form is necessary to meet the timing
requirements elow) to the person in whose name this Bond is
registered ( t e "Holder" or "Bondholder" ) on the registration
books of the ssuer maintained by the Bond Registrar and at the
address appea ing thereon at the close of business on the
fifteenth cal ndar day preceding such Interest Payment Date
(the "Regular Record Date" ) . Interest payments shall be
received by t e Holder no later than 12:00' noon, Chicago,
Illinois, tim ; and principal and premium payments shall be
received by t e Holder no later than 12:00 noon, Chicago,
Illinois, tim if the Bond is surrendered for payment enough in
advance to pe mit payment to be made by such time. Any
interest not o timely paid shall cease to be payable to the
person who i the Holder hereof as of the Regular Record Date,
and shall be ayable to the person who is the Holder hereof at
the close of business on a date (the "Special Record Date" )
Fixe�.i by the Bond Registrar whenever money becomes available
for payment f the defaulted interest. Notice of the Special
Record Date hall be given to Bondholders ; not less than ten
days prior t the Special Record Date. The principal of and
premium, if ny, and interest on this Bond are payable in
lawful money of the United States of Amer�ca.
Da e of Pa ment Not Business Da . If the date for
payment of t e principal of, premium, if �any, or interest on
this Bond sh 11 be a Saturday, Sunday, le�gal holiday or a day
on which ban ing institutions in the City of Chicago, Illinois,
or the city here the principal office of� the Bond Registrar is
located are authorized by law or executi�e order to close, then
the date for such payment shall be the next succeeding day
which is no a Saturday, Sunday, legal h�liday or a day on
which such anking institutions are authbrized to close, and
payment on uch date shall have the same force and effect as if
made on the nominal date of payment.
N Redem tion. The Bonds of this issue are not
subject to edemption and prepayment prior to their maturity.
I suance; Pur ose; General Obli ation. This Bond is
one of an i sue in the total principal amount of $500,000, all
of like dat of original issue and tenor, except as to number,
maturity, i terest rate, and denomination, which Bond has been
issued purs ant to and in full conformi�,'y with the Constitution
and laws of the State of Minnesota, inc]�uding particularly Laws
of Minnesot for 1963 , Chapter 881 , as amended, particularly
Subdivisio 3 of Section 1 thereof, and the Charter of the
11
Issuer, and pu suant to a resolution adopted by the City
Council of the Issuer on March 17 , 1987 (the "Resolution" ) , for
the purpose of Procuring the necessary funds to pay up to the
entire projec cost of certain urban renew�l development
projects in t City, designated the Downtown Redevelopment
Project, bein a project for which the City is authorized to
issue bonds p rsuant to the aforesaid laws. This Bond is
payable out o the General Debt Service Fund of the Issuer.
This Bond con titutes a general obligation of the Issuer, and
to provide mo eys for the prompt and full payment of its
principal, pr mium, if any, and interest when the same become
due, the full faith and credit and taxing ;powers of the Issuer
have been and are hereby irrevocably pledged.
Den minations; Exchan e; Resolution. The eonds are
issuable orig ' nal y only as G oba Certi i�cates in the
denomination f the entire principal amou�t of the issue
maturing on a single date. Global Certificates are not
exchangeable or fully registered bonds of smaller
denomination except in exchange for Re�l$cement Bonds if then
available. eplacement Bonds, if made available as provided
below, are i suable solely as fully regis�ered Bonds in the
denomination of $5 ,000 and integral mult�ples thereof of a
single matur ty and are exchangeable for �ully registered Bonds
of other aut orized denominations in equa� aggregate principal
amounts at t e principal office of the Bo�d Registrar, but only
in the manne and subject to the limitatipns provided in the
Resolution. Reference is hereby made to �the Resolution for a
description f the rights and duties of t�he Bond Registrar.
Copies of th Resolution are on file in the principal office of
the Bond Reg' strar. �
Re lacement Bonds. Replacement Bonds may be
issued
by the Issuer in the event that:
( ) the Depository shall resi�n or discontinue its
servic s for the Bonds, and only if the Issuer is unable
to loc te a substitute depository w�thin two (2) months
follow ng the resignation or determ�nation of non-
eligib lity, or
12 ;
(b) upon a determination by the Issuer in its sole
discreti that (1) the continuation of the book-entry
system described in the Resolution, which precludes the
issuance of certificates (other than Global Certificates)
to any H lder other than the Depository (or its nominee) ,
might ad ersely affect the interest of the beneficial
owners o the Bonds, or (2) that it is in the best
interest of the beneficial owners of the Bonds that they
be able o obtain certificated bonds.
Tra sfer. This Bond shall be registered in the name
of the payee n the books of the Issuer by presentinq this Bond
for registrat on to the Bond Registrar, who will endorse his,
her or its na e and note the date of registration opposite the
name of the p yee in the certificate of registration attached
hereto. Ther after this Bond may be transferred by delivery
with an assig ment duly executed by the Hqlder or his, her or
its legal re resentatives, and the Issuer and Bond Registrar
may treat th Holder as the person exclusi�vely entitled to
exercise all the rights and powers of an �wner until this Bond
is presented with such assignment for reg stration of transfer,
accompanied y assurance of the nature pr vided by law that the
assignment i genuine and effective, and �ntil such transfer is
registered o said books and noted hereon� by the Bond
Registrar, a 1 subject to the terms and c}�nditions provided in
the Resoluti n and to reasonable regulatipns of the Issuer
contained in any agreement with, or notic�e to, the Bond
Registrar. ransfer of this Bond may, at� the direction and
expense of t e Issuer, be subject to cer ain other restrictions
if required o qualify this Bond as bein " in registered form"
within the m aning of Section 149(a) of he federal Internal
Revenue Code of 1986, as amended. i
F es u on Transfer or Loss. Tl�e Bond Registrar may
require pay ent of a sum sufficient to cpver any tax or other
governmenta charge payable in connectio� with the transfer or
exchange of this Bond and any legal or u�usual costs regarding
transfers a d lost Bonds. i
T eatment of Re istered Owner. i The Issuer and Bond
Registrar m y treat the person in whose �name this Bond is
registered s the owner hereof for the purpose of receiving
payment as erein provided (except as otherwise provided with
respect to he Record Date) and for all ;other purposes, whether
or not this Bond shall be overdue, and neither the Issuer nor
the Bond Re istrar shall be affected by �notice to the contrary.
13
Aut entication. This Bond shall not be valid or
become obliga ory for any purpose or be entitled to any
security unle s the Certificate of Authentication hereon shall
have been exe uted by the Bond Registrar.
Not Qualified Tax-Exem t Obli at`ons. The Bonds have
not been desi nated by the Issuer as qua � ied tax-exempt
obligations" or purposes of Section 265(b) (3) of the federal
Internal Reve ue Code of 1986 , as amended.
IT S HEREBY CERTIFIED AND RECITED that all acts,
conditions an things required by the Constitution and laws of
the State of innesota and the Charter of the Issuer to be
done, to hap n and to be performed, precedent to and in the
issuance of his Bond, have been done, have happened and have
been perform d, in regular and due form, time and manner as
required by aw, and this Bond, together with all other debts
of the Issue outstanding on the date of original issue hereof
and on the d te of its issuance and delivery to the original
purchaser, d es not exceed any constitutional or statutory or
Charter limi ation of indebtedness.
i
14
i
T i
IN ITLVESS WHEREOF, the City of S�int Paul� Ramsey
County, Minne ota, by its City Council has caused this Bond to
be sealed wit its official seal and to be executed on its
behalf by the photocopied facsimile signat�ure of its Mayor,
attested by t e photocopied facsimile sign}�ture of its City
Clerk, and co ntersigned by the photocopie�d facsimile signature
of its Direct r, Department of Finance and� Management Services.
Date of Regis ration: Registrable by�l.
Payable at:
BOND REGISTRA ' S CITY OF SAINT ,PAUL,
CERTIFICATE O RAMSEY COUNTY, MINNESOTA
AUTHENTICATI
This Bond is one of the
Bonds descri d in the
within menti ned Mayor �
Resolution. �
Attest:
, City Clerk
Bond Registr r
By Countersignedl;
Authorized Signature I
Director, De�'lartment of Finance
and Management Services ,
(SEAL)
General Obligation Urban Renewal Bond, Series 1987 , No. R-
15
CERTIFICATE OF REGISTRATION
The transfer f ownership of the principal amount of the
attached Bond may be made only by the registered owner or his,
her or its le al representative last noted below.
DATE OF SIGNATURE OF
REGISTRATION REGISTERED OWNER BOND REGISTRAR
I
�
.
I
�
16
ABBREVIATIONS
The foll wing abbreviations, when used in the inscription
on the face o this Bond, shall be construed as though they
were written ut in full according to applicable laws or
regulations:
TEN COM - as enants in common
TEN ENT - as enants by the entireties
JT TEN - as j int tenants with right of suxvivorship
and ot as tenants in common
UNIF GIFT MIN ACT Custodian
(Cust) Minor
under Uniform Gifts to Minors
. Act
tate
A ditional abbreviations may also be used
though not in the above list.
,
�
17
ASSIGNMENT
For alue received, the undersigned hereby sells,
assigns and tr nsfers unto
the witMin Bond and does
hereby irrevo ab y constitute and appoint
attorney to t ansfer the Bond on the books ept or t e
registration hereof, with full power of substitution in the
premises.
Dated:
Not' ce: The assignor' s signatu,re to this assignment
must correspond with the name as it appears
upon the face of the within Bond in every
particular, without alteration or any
change whatever.
Signature Gu ranteed:
Signature(s) must be guaranteed by a national bank or trust
company or b a brokerage firm having a m�mbership in one of
the major st ck exchanges.
The Bon Registrar will not effect transfer of this Bond
unless the i formation concerning the transferee requested
below is pro ided.
Name and Ad ress: �
(Include information f�r all joint owners
if the Bond is held by joint account. )
18
I •
B. e lacement Bonds. If the City has notified
Holders that R placement Bonds have been ma�e available as
provided in pa agraph 7 , then for every Bond thereafter
transferred or exchanged the Bond Registrar; shall deliver a
certificate in the form of the Replacement ;Bond rather than the
Global Certifi ate, but the Holder of a Global Certificate
shall not othe wise be required to exchange the Global
Certificate f r one or more Replacement Bonds since the City
recognizes that some bondholders may prefer the convenience of
the Depositor ' s registered ownership of the Bonds even though
the e�tire is ue is no longer required to be in global book-
entry form. he Replacement Bonds, together with the Bond
Registrar' s C rtificate of Authentication, the form of
Assignment an the registration information thereon, shall be
in substantia ly the following form:
'
�
19
. ,
UNITED STATES OE AMERICA
STATE OF MINNESOTA
RAf9SEY COU[�TY
CITY OF SAINT PAUL
R- $
GENERAL OBLIGATION URBAN RENEWAL
BOND� SERIES 1987
INTEREST MATURITY DATE OF
RATE DATE ORIGINAL ISSUE CUSIP
April 1 ', 1987
REGISTERED OW ER: i
PRINCIPAL AMO NT: DOLLARS
KNO ALL PERSONS BY THESE PRESENTS that the City of
Saint Paul, amsey County, Minnesota ( the ' "Issuer" or "City" ) ,
certifies th t it is indebted and for value received promises
to pay to th registered owner specified �bove, or registered
assigns, wit out option of Prepayment, inithe manner
hereinafter et forth, the principal amount specified above, on
the maturity date specified above, and to� pay interest thereon
semiannually on March 1 and September 1 ofE each year (each, an
"Interest Pa ment Date" ) , commencing September 1 , 1987 , at the
rate per ann m specified above (calculated on the basis of a
360-day year of twelve 30-day months) until the principal sum
is paid or h s been provided for. This �ond will bear interest
from the mos recent Interest Payment Date to which interest
has been pai or, if no interest has been paid, from the date
of original issue hereof. The principal of and premium, if
any, on thi Bond are payable upon presentation and surrender
hereof at t e principal office of
, in ,
the "Bond Registrar" ) , acting as paying
agent, or a y successor paying agent dul� ap�ointed by the
Issuer. In erest on this Bond will be paid on each Interest
Payment Dat by check or draft mailed to the person in whose
name this B nd is registered (the "Holder" or "Bondholder" ) on
the registr tion books of the Issuer mai�tained by the Bond
Registrar a d at the address appearing thereon at the close of
business on the fifteenth calendar day preceding such Interest
Payment Dat (the "Regular Record Date") . Any interest not so
timely pai shall cease to be payable to the person who is the
20
-
Holder hereof s of the Regular Record Date, and shall be
payable to the person who is the Holder hereof at the close of
business on a ate (the "Special Record Date" ) fixed by the
Bond Registrar whenever money becomes avail'able for payment of
the defaulted ' nterest. Notice of the Special Record Date
shall be given to Bondholders not less than ten days prior to
the Special Re ord Date. The principal of ;and premium, if any,
and interest n this Bond are payable in l�wful money of the
United States of America.
REE RENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF
THIS BOND SET FORTH ON THE REVERSE HEREOF� WHICH PROVISIONS
SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH
HERE.
IT S HEREBY CERTIFIED AND RECITED that all acts,
conditions an things required by the Constitution and laws of
the State of innesota and the Charter of the Issuer to be
done, to hap n and to be performed� prec�dent to and in the
issuance of t is Bond,- have been done, have happened and have
been perform , in regular and due form, time and manner as
required by aw� and this Bond, together w�ith all other debts
of the Issue outstanding on the date of original issue hereof
and on the d te of its issuance and deliv�ry to the original
purchaser, d es not exceed any constitutional or statutory or
Charter limi ation of indebtedness.
IN WITNESS WHEREOF, the City of Saint Paul� Ramsey
County, Minn sota, by its City Council has caused this Bond to
be sealed wi h its official seal or a facsimile thereof and to
be executed n its behalf by the original or facsimile
signature of its Mayor, attested by the original or facsimile
signature of its City Clerk, and countersigned by the original
or facsimile signature of its Director, Department of Finance
and �lanagement Services.
21
. �
Date of Regis ration: Registrable by:
Payable at:
B0�1D REGISTRA ' S CITY OF SAINT PAUL ,
CERTIFICATE F RAMSEY COUNTX, MINNESOTA
AUTHENTICATI
This Bond is one of the
Bonds descri ed in the
within menti ned Mayor
Resolution.
Attest:
, City Clerk
Bond Registr r �
B Countersi nedl:
y g I
Authorized Signature
Director, De artment o Finance
and Managemer�t Services
(SEAL)
22
ON REVERSE OF BOND
Dat of Pa ment Not Business Da . If the date for
payment of th principal of, premium, if any, or interest on
this Bond sha 1 be a Saturday, Sunday, legal holiday or a day
on which bank ng institutions in the City of Chicago, Illinois,
or the city w ere the principal office of the Bond Registrar is
located are a thorized by law or executive' order to close, then
the date for uch payment shall be the next succeeding day
which is not Saturday, Sunday� legal holiday or a day on
which such ba king institutions are author'ized to close, and
payment on su h date shall have the same £orce and effect as if
made on the n minal date of payment.
No edem tion. The Bonds of this issue are not
subject to r emption and prepayment prio� to their maturity.
Is uance; Pur ose; General Obli ation. This Bond is
one of an is ue in the total principal amount of $500 ,000, all
of like date of original issue and tenor, � except as to number,
maturity, in erest rate, and denomination, which Bond has been
issued pursu nt to and in full conformity with the Constitution
and laws of he State of Minnesota, including particularly Laws
of Minnesota for 1963 , Chapter 881 , as am�nded, particularly
Subdivision of Section l thereof, and the Charter of the
Issuer, and ursuant to a resolution adopted by the City
Council of t e Issuer on March 17, 1987 (;the "Resolution" ) , for
the purpose f procuring the necessary funds to pay up to the
entire proje t cost of certain urban rene�aal development
projects in he City, designated the Downitown Redevelopment
Project, bei g a project for which the Ci�ty is authorized to
issue bonds ursuant to the aforesaid law's. This Bond is
payable out f the General Debt Service �1und of the Issuer.
This Bond co stitutes a general obligatian of the Issuer, and
to provide neys for the prompt and full� payment of its
principal, p emium, if any, and interest �when the same become
due, the fu 1 faith and credit and taxing powers of the Issuer
have been a are hereby irrevocably pledged.
D nominations; Exchan e; Resolution. The Bonds are
issuable so ely as fully registered Bonds in the denominations
of $5,000 a d integral multiples thereof of a single maturity
and are exc angeable for fully registered Bonds of other
authorized enominations in equal aggregate principal amounts
at the prin ipal office of the Bond Regi�trar, but only in the
23
manner and sub ect to the limitations provided in the
Resolution. R ference is hereby made to the Resolution for a
description of the rights and duties of the Bond Registrar.
Copies of the esolution are on file in th� principal office of
the Bond Regis rar.
Tran fer. This Bond is transferable by the Holder in
person or by is, her or its attorney duly authorized in
writing at the principal office of the Bond Registrar upon
presentation nd surrender hereof to the Bond Registrar, all -
subject to th terms and conditions provid@d in the Resolution
and to reason ble regulations of the Issuer contained in any
agreement wit the Bond Registrar. Thereupon the Issuer shall
execute and t e Bond Registrar shall authenticate and deliver,
in exchange f r this Bond, one or more new,' fully registered
Bonds in the ame of the transferee (but n�t registered in
blank or to " earer" or similar designation) , of an authorized
denomination r denominations, in aggregat�e principal amount
equal to the rincipal amount of this Bondl, of the same
maturity and earing interest at the sameirate. Whenever
ownership of his Bond should be transfer�ed under any other
circumstances or be registered in nominee �name only, the
registered ow er of the Bond shall, if an� to the extent
required to ualify this Bond as being "irn registered form"
within the m aning of Section 149 (a) of t�e federal Internal
Revenue Code of 1986, as amended, and at the direction and
expense of t e Issuer, maintain for the I�suer a record of the
actual owner of the Bonds.
Fe s u on Transfer or Loss. The Bond Registrar may
require paym nt of a sum sufficient to co�ver any tax or other
governmental charge payable in connection; with the transfer or
exchange of his Bond and any legal or u�usual costs regarding
transfers an lost Bonds.
Tr atment of Re istered Owner. � The Issuer and Bond
Registrar ma treat the person in whose �ame this Bond is
registered a the owner hereof for the purpose of receiving
payment as erein provided (except as otherwise provided on the
reverse sid hereof with respect to the Record Date) and for
all other p rposes, whether or not this �ond shall be overdue,
and neither the Issuer nor the Bond Regi$trar shall be affected
by notice t the contrary.
A thentication. This Bond shall not be valid or
become obli atory for any purpose or be �ntitled to any
security un ess the Certificate of Authe�tication hereon shall
have been e ecuted by the Bond Registrar�.
24
Not ualified Tax-Exem t Obli ations. The Bonds have
not been desi nated by the Issuer as "qual�fied tax-exempt
obligations" or purposes of Section 265(b� (3) of the federal
Internal Reve ue Code of 1986, as amended. '
ABBREVIATIONS
The foll wing abbreviations, when used in the inscription
on the face o this Bond, shall be construed as though they
were written ut in full according to appl�icable laws or
regulations:
TEN COM - as enants in common
TEN ENT - as enants by the entireties
JT TEN - as j int tenants with right of s�rvivorship
and ot as tenants in common
UNIF GIFT MIN ACT Custodian
Cust Minor
under Uniform Gifts �to Minors
ACt
State !
A ditional abbreviations may a�so be used
though not in the above �ist.
25
ASSIGNMENT
For value received, the undersigned hereby sells,
assigns and t ansfers unto
the witrhin Bond and does
hereby irrevo ably constitute and appoint
attorney to ransfer the Bond on the books kept or t e
registration thereof, with full power of substitution in the
premises. ;
Dated:
No ice: The assignor' s signatlre to this assignment
must correspond with �he name as it appears
upon the face of the taithin Bond in every
particular, without a�.teration or any
change whatever.
Signature Gu ranteed:
Signature(s) must be uaranteed b a national bank or trust
9 Y
company or a brokerage firm having a a�embership in one of
the major st ck exchanges.
The Bo d Registrar will not effect transfer of this Bond
unless the ' nformation concerning the transferee requested
below is pr vided.
Name and Ad ress:
(Include information for all joint owners
if the Bond is held I�y joint account. )
, 26
11 . Execution. The Bonds shall be executed on
behalf of the City by the signatures of its Mayor, City Clerk
and Director, Department of Finance and Management Services,
each with the effect noted on the forms of the Bonds, and be
sealed with t e seal of the City; provided, however, that the
seal of the C ty may be a printed or photoCOpied facsimile;
provided furt er that any of such signatur�s may be printed or
photocopied f csimiles and the corporate seal may be omitted on
the Bonds as ermitted by law. In the eve,nt of disability or
resignation o other absence of any such afficer, the Bonds may
be signed by he manual or facsimile sign�ture of that officer
who may act o behalf of such absent or d�sabled officer. In
case any such officer whose signature or acsimile of whose .
signature sh 11 appear on the Bonds shall �cease to be such
officer befo e the delivery of the Bonds„such signature or
facsimile sh 11 nevertheless be valid and � sufficient for all
purposes, th same as if he or she had re�ained in office until
delivery. i
12 Authentication; Date of Relistration. No Bond
shall be val d or obligatory for any purp se or be entitled to
any security or benefit under this resolu�ion unless a
Certificate f Authentication on such Bon�, substantially in
the form her inabove set forth, shall hav� been duly executed
by an author zed representative of the Bo!nd Registrar.
Certificates of Authentication on differe�t Bonds need not be
signed by th same person. The Bond Regi!strar shall
authenticate the signatures of officers af the City on each
Bond by exec tion of the Certificate of Authentication on the
Bond and by inserting. as the date of registration in the space
provided the date on which the Bond is authenticated. For
purposes of elivering the original Global Certificates to the
Purchaser, he Bond Registrar shall insert as the date of
registratio the date of original issue, ,which date is April 1 ,
1987 . The ertificate of Authentication so executed on each
Bond shall e conclusive evidence that it has been
authenticat d and delivered under this resolution.
1 . Re istration; Transfer; Exchan e. The City will
cause to be kept at the principa o ice o t e Bond Registrar
a bond regi ter in which, subject to such reasonable
regulations as the Bond Registrar may pr��scribe, the Bond
Registrar s all provide for the registration of Bonds and the
registratio of transfers of Bonds entitled to be registered or
transferred as herein provided.
27
A G1 bal Certif.icate shall be registered in the �ame
of the payee n the books of the Bond Registrar by presenting
the Global Ce tificate for registration to the Bond Registrar, -
who will endo se his or her name and note the date of
registration pposite the name of the paye� in the certificate
of registrati n on the Global Certificate.,: Thereafter a Global
Certificate m y be transferred by delivery with an assignment
duly executed by the Holder or his, her or' its legal
representativ , and the City and Bond Regi�trar may treat the
Holder as the person exclusively entitled 'to exercise all the
rights and po ers of an owner until a Global Certificate is
presented wi such assignment for registration of transfer,
accompanied b assurance of the nature provided by law that the
assignment i genuine and effective, and until such transfer is
registered on said books and noted thereon by the Bond
Registrar, a 1 subject to the terms and cbnditions provided in
the Resoluti n and to reasonable regulations of the City
contained in any agreement with, or notic� to, the Bond
Registrar.
Tr nsfer of a Global Certificat� may, at the
direction an expense of the City, be subject to other
restrictions if required to qualify the Global Certificates as
being "in re istered form" within the meaning of Section 149(a)
of the feder 1 Internal Revenue Code of 1986 , as amended.
Up n surrender for transfer of ;any Replacement Bond
at the princ pal office of the Bond Regis�trar, the City shall
execute ( if ecessary) , and the Bond Reg�strar shall
authenticate insert the date of registration (as provided in
paragraph 12) and deliver, in the name of the designated
transferee o transferees, one or more new Replacement Bonds of
any authori ed denomination or denominations of a like
aggregate p incipal amount, having the same stated maturity and
interest ra e, as requested by the transferor; provided,
however, th t no bond may be registered in blank or in the name
of "bearer" or similar designation. Whenever ownership of any
Replacement Bonds should be transferred without surrender of
the Replace ent Bond for transfer or should be registered in
nominee nam only, the registered owner of the Replacement Bond
shall, if a d to the extent required to preserve the exclusion
from gross ncome of the interest on the Bonds and at the
direction a d expense of the City� maintain for the City a
record of t e actual' owner of the Replacement Bond.
A the option of the holder o� a Replacement Bond,
Replacement Bonds may be exchanged for Replacement Bonds of any
authorized enominatian or denominations of a like aggregate
principal a ount and stated maturity, upon surrender of the
28
Replacement B nds to be exchanged at the p�incipal office of
the Bond Regi trar. Whenever any Replacement Bonds are so
surrendered f r exchange, the City shall execute ( if
necessary) , a d the Bond Registrar shall authenticate, insert
the date of r gistration of, and deliver the Replacement Bonds
which the hol er making the exchange is entitled to receive.
Global Certif cates may not be exchanged fpr Global
Certificates f smaller denominations. �
All Bonds surrendered upon any ejxchange or transfer
provided for ' n this resolution shall be �romptly cancelled by
the Bond Regi trar and thereafter dispose of as directed by
the City. I
All Bonds delivered in exchanye for or upon transfer
of Bonds sha 1 be valid general obligatio�s of the City
evidencing t e same debt, and entitled to �the same benefits
under this r solution, as the Bonds surre�dered for such
exchange or ransfer.
Ev ey Bond presented or surrend�red for transfer or
exchange sha 1 be duly endorsed or be acc�mpanied by a written
instrument o transfer, in form satisfact ry to the Bond
Registrar, d ly executed by the holder th�reof or his, her or
its attorney duly authorized in writing. !
Th Bond Registrar may requirelpayment of a sum
sufficient t cover any tax or other gove'rnmental charge
payable in c nnection with the transfer ar exchange of any Bond
and any lega or unusual costs regarding transfers and lost
Bonds.
Tr nsfers shall also be subject to reasonable regula-
tions of th City contained in any agreement with, or notice
to, the Bon Registrar, including regula�ions which permit the
Bond Regist ar to close its transfer boo�s between record dates
and payment dates.
14 Rights Upon Transfer or ExChange. Each Bond
delivered u on transfe� of or in exchange for or in lieu of any
other Bond hall carry all the rights to interest accrued and
unpaid, and to accrue, which were carried by such other Bond.
15 Interest Payment; Record Date. Interest on any
Global Cert ficate shall be paid as provided in the first
paragraph t ereof, and interest on any R�placement Bond shall
be paid on ach interest payment date by check or draft mailed
to the pers n in whose name the Bond is registered (the
"Holder" ) the registration books of �he City maintained by
29
the Bond Regi trar, and in each case at the address appearing
thereon at th close of business on the fifteenth (15th)
calendar day receding such interest payment date (the Regular
Record Date" ) Any such interest not so tamely paid shall
cease to be p yable to the person who is the Holder thereof as
of the Regula Record Date, and shall be p�yable to the person
who is the Ho der thereof at the close of business on a date
(the "Special Record Date" ) fixed by the Bbnd Registrar
whenever mone becomes available for paymeht of the defaulted
interest. No ice of the Special Record D�te shall be given by
the Bond Regi trar to the Holders not less' than ten (10) days
prior to the pecial Record Date. The te�m "Holder" shall also
include those lawfully entitled to take adtions on behalf of
the benefici 1 owners of the Bonds for purposes of any consent
or approvals iven by Holders.
16. Treatment of Registered Owner. The City and Bond
Registrar ma treat the person in whose name any Bond is
registered a the owner of such Bond for Ghe purpose of
receiving pa ment of principal of and premium� if any, and
interest (su ject to the payment provisions in paragraph 15
above) on, s ch Bond and for all other purposes whatsoever
whether or n t such Bond shall be overdue , and neither the City
nor the Bond Registrar shall be affected by notice to the
contrary.
17. Deliver ; A lication of Proceeds. �The Global
Certificates when so prepared and execute sha 1 be delivered
by the Direc or, Department of Finance and Management Services,
to the Purch ser upon receipt of the Qurchase price, and the
Purchaser sh 11 not be obliged to see to �he proper application
thereof.
18. Fund and Account. There i� hereby created a
special acco nt to be designated the "Ur�an Renewal Bonds
Account of 1 87" (the "Account" ) in the s�pecial fund of the
City heretof re created and designated a� the "City Urban
Renewal Bond Fund" , to be administered a�d maintained by the
City Treasu er as a bookkeeping account eparate and apart from
all other a counts maintained in the official financial records
of the City There has been heretofore created and established
the General Debt Service Fund (numbered 960, herein the
"Fund" ) . T e Account and the Fund shall each be maintained in
the manner erein specified until all of the Bonds herein
authorized nd the interest thereon have been fully paid.
i) Accoun�. To the Account there shall be
credit d the proceeds of the sale of the Bonds herein
author zed, less accrued interest received thereon, and
30
less any amount paid for the Bonds in excess of $491 ,500.
From the Account there shall be paid all costs and
expenses of making the Improvements (as defined in
�aragrap 3 hereof , including any reallocation) , including
the cost of any construction contracts heretofore let and
all othe costs incurred and to be in'curred of the kind
authoriz d in Minnesota Statutes, Section 475.65; and the
moneys i the Account shall be used f'or no other purpose
except a otherwise provided by law; provided that the
proceeds of the Bonds may also be usdd to the extent
necessar to pay interest on the Bon s due prior to the
anticipa ed date of commencement of he collection of
taxes he ein covenanted to be levied; and provided further
that if pon completion of the Impro�ements there shall
remain a y unexpended balance in thelAccount, the balance
may be ransferred by the Council tojthe fund of any other
improve ent instituted pursuant to L�ws of Minnesota for
1963 , C apter 881 , as amended, or tojthe Fund.
(i ' ) Fund. There is hereby pl�dged and there shall
be cred ted to the Fund, to a speciall sinking fund account
which i hereby created and establis�ed therein for the
payment of the Bonds, and as a separ�te sinking fund
account also in the common sinking f�ind maintained for
payment of principal and interest on� the urban renewal
bonds i sued pursuant to the Urban R�newal Law, and no
other b nds, (a) all accrued interes�t received upon
deliver of the Bonds; (b) all fundslpaid for the Bonds in
excess f $491,500; (c) any collecti�ons of all taxes which
are her in levied for the payment ofl the Bonds and
interes thereon as provided in para�graph 19; (d) all
funds r maining in the Account after� completion of the
Improve ents and payment of the cost�s thereof, not so
transfe red to the account of anoth r improvement; and (e)
all inv stment earnings on moneys h ld in said special
account in the Fund. '
�
Said sp cial account created in the 'Fund shall be used
solely to p y the principal and interest �and any premiums for
redemption f the Bond� issued hereunder 'and any other bonds of
the City he etofore or hereafter issued k�y the City and made
payable fro said special account in the Fund as provided by
law, or to ay any rebate due to the Uni ed States. No portion
of the proc eds of the Bonds shall be us d directly or
indirectly o acquire higher yielding in estments or to replace
funds which were used directly or indire�tly to acquire higher
yielding in estments, �xcept (1) for a reasonable temporary
period unti such proceeds are needed fo� the purpose for which
the Bonds w re issued, and (2) in addition to the above in an
31
amount not g eater than the lesser of five percent ( 5�) of the
proceeds of he t3onds or $lU0,U00. To this effect, any
proceeds of the Bonds and any sums from time to time held in
the Account r said special account in tKe Fund (or any other
City accoun which will be used to pay p�incipal or interest to
become due n the bonds payable therefrorn) in excess of amounts
which under the applicable federal arbit�age regulations may be
invested wi hout regard as to yield shall not be invested at a
yield in ex ess of the applicable yield �estrictions imposed by
said arbitr ye regulations on such inves�ments after taking
into accoun any applicable "temporary p riods" or "minor
portion" ma e available under the federa� arbitrage
reyulations In addition, the proceeds f the Bonds and money
in the Acco nt or the Fund shall not be nvested in obligations
or dePosits issued by, guaranteed by or 'nsured by the United
States or a y agency or instrumentality hereof if and to the
extent that such investment would cause he Bonds to be
"federally , uaranteed" within the meanin� of Section 149(b) of
the federal Internal Revenue Code of 1986, as amended (the
"Code" ) .
I
19 . Tax Lev�; Coverage Test. ITo provide moneys for
payment of he principal and interest onJ the Bonds there is
hereby levi d upon all of the taxable p�operty in the City a
direct annu 1 ad valorem tax which shalll be spread upon the tax
rolls and c llected with and as part of other general property
taxes in th City for the years and in t�he amounts as follows:
Year f Tax Year of Taxi
Le Collection Amount
19 6* 1987* � $75,673*
19 7 1988 ' 75.784
19 8 1989 73,684
19 9 1990 ' 71,453
19 U 1991 ' 69,090
19 1 1992 66 ,597
19 2 1993 63,972
19 3 1994 61 ,242
19 4 1995 58,407
19 5 1996 55,493
*heretofor levied or provided from other available City funds
32
The tax levies are such that if collected in full
they, togethe with estimated collections of any other revenues
herein pledge for the payment of the Bond�, will produce at
least five pe cent (5�) in excess of the amount needed to meet
when due the rinciPal and interest payme�ts on the Bonds. The
tax levies sh 11 be irrepealable so long �s any of the 8onds
are outstandi g and unpaid, provided that the City reserves the
right and pow r to reduce the levies in t e manner and to the
extent permit ed by Minnesota Statutes , S ction 475.61,
Subdivision 3.
20 . General Obligation Pledge. IFor the prompt and
full payment of the principal and interes� on the Bonds, as the
same respectively become due, the full fa�th, credit and taxing
powers of th City shall be and are hereb� irrevocably pledged.
If the balan e in the Fund (as defined in paragraph 18 hereof)
is ever insu ficient to pay all principalland interest then due
on the Bonds payable therefrom, the deficiency shall be
promptly pai out of any other funds of t�e City which are
available fo such purpose, including the general fund of the
City, and su h other funds may be reimbur�ed with or without
interest fro the Fund when a sufficient alance is available
therein.
21 . Certificate of RegistrationI. The Director ,
Department o Finance and Management Serv�ices, is hereby
directed to ile a certified copy of this� Resolution with the
County Audit r of Ramsey County, Minnesotla, together with such
other inform tion as the Auditor shall relquire, and to obtain
the Auditor' certificate that the Bondslhave been entered in
the Auditor' Bond Register, and that thel tax levy required by
law has been made.
22 . Records and Certificates. IThe officers of the
City are her by authorized and directed L�o prepare and furnish
to the Purch ser, and to the attorneys a�lproving the legality
of the issua ce of the Bonds, certified �opies of all
proceedings nd records of the City relating to the Bonds and
to the fina cial condition and affairs of the City, and such
other affid vits, certificates and information as are required
to show the facts relating to the legality and marketability of
the Bonds a the same appear from the books and records under
their custo y and control or as otherwis� known to them, and
� all such ce tified copies, certificates and affidavits, in-
cluding any heretofore furnished, shall be deemed represen-
tations of he City as to the facts recited therein.
33
23 . Negative Covenant as to Use of Improvements. The
City hereby c venants not to use the proc�eds of the Bonds or
to use the Im rovements, or to cause or pe',rmit them or any of
them to be us d, or to enter into any deferred payment
arrangements or the cost of the Improvemejnts, in such a manner
as to cause t e Bonds to be "private acti�ity bonds" within the
meaning of Se tions 103 and 141 through 15!0 of the Code.
24. Tax-Exem t Status of the Bon�s; Rebate. The City
shall comply ith requirements necessary n er t e ode to
establish and maintain the exclusion from gross income under
Section 103 o the Code of the interest on the Bonds, including
without limit tion requirements relating to temporary periods
for investmen s, limitations on amounts invested at a yield
greater than he yield on the Bonds, and the rebate of excess
investment ea nings to the United States.
25 . No Designation of Qualified Tax-Exempt
Obligations. The Bonds exceed in amount Chose which may be
qualified as "qualified tax-exempt obliga ions" within the
meaning of Se tion 265(b) (3) of the Code, and hence are not
designated fo such purpose.
26. Depository Letter Agreement. The Depository
Letter Agree ent is hereby approved, and hall be executed on
behalf of the City by the Mayor, Clerk an Director, Department
of Finance an Management Services, in su stantially the forrn
approved, wit such changes, modifications , additions and
deletions as shall be necessary and approQriate and approved by
the City Att rney. Execution by such officers of the
Depository L tter Agreement shall be conclusive evidence as to
the necessit and propriety of changes and their approval by
the City Att rney. So l�ong as Midwest Securities Trust Company
is the Depos ' tory or it or its nominee is the Holder of any
Global Certi icate, the City shall comply with the provisions
of the Depos ' tory Letter Agreement, as it may be amended or
supplemented by the City from time to time with the agreement
or consent o Midwest Securities Trust Company.
27. Severability. If any section, paragraph or .
provision of this resolution shall be held to be invalid or
unenforceabl for any reason, the invalidity or unenforce-
ability of s ch section, paragraph or provision shall not
affect any o the remaining provisions of 'Ithis resolution.
�
I
I
34
WHITE - CITY CLERK - �
PINK - FINANCE TT � COl1t1C1I
CANARY - D6PARTMENT G I T Y O F S A I N T �A ll L ? ���'�
BLU�E� , - MAYOR � FIIe N O.
�
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the City ouncil conducted a public hearing on March 17, 1987, upon the
Application at which h ring opportunity was provided fo� the Applicant, the County
Assessor, representati s of affected taxing authorities and any taxpayer of the City or
meqnber of the public t present their views orally or in writing at or before the hearing,
and having duly consid red the testimony and written views presented at the hearing and
the Application, staff report and draft Participation Agrec3nent; nav therefore, be it
RESOLVED by the uncil of the City of Saint Paul that it hereby determines that the
Application of 3N Pro rties, the property improvc�nents, retained and n�a jobs and tax
benefits proposed �et the objectives of the Saint Paul Riverfront Enterprise Zone
Pro9r'am•
RESOLVED FURTHER t the City Council additionally� finds and detennines that the
oonstruction of the n facility (1) is reasonably lik�ly to create new employment in the
City; (2) will not ve the effect of transferring exi�ting employment frcan one or more
other cities within M nnesota; (3) will result in an iMCrease in market value of the
employment property o $600,000 which is .00008$ of the market value of all taxable
property in Saint Pau ; and (4) will not result in the reduction of the assessed value of
existing property wit in the City owned by Applicant.
RESOLVED FURTF� that the Application and e�nployme�nt property reclassification
thereby proposed is reby approved and the City Clerk is directed to transnit the
Application together ith a certified copy of this resqlution to the Caimissioner of
Energy and Econo�nic velognent and the Cce�missioner o£ Revenue for consideration and
f inal approval.
RESOLVED FURTHE that the Participation Agreement;betw�een the City and the Applicant
is hereby approved, d the prdper City officers are a{�thorized to sign the sa�ree on behalf
of the City, and upo its signature by the Applicant tp transnit Attachment C of said
Agreement to the C issioner of Energy and E�ncmic velo�enent and the Camnissioner of
Revenue for signatur by the Ca�missioners or their de ignee up�n final approval of the
Application.
COUNCILMEN
Yeas Na s Requestgd�by Department of:
y Drew
Hunt �"Trn
� � e In Favor
ox
M on Sche�b � O __ Against BY
ow Iter -
T � Sonn
Wilson Ted O
w��� �R '��� 198Z Form Approved by City Attorney
Adopted by Council: Dat —
Certified Yas•e ouncil Se c BY
By
Approved 17ayor: D c _ �IdR 1 � 14R7 Approved by Mayor for Submi ion o Cauncil
By _ _ BY
P !l�HfQ ""^`� " � 1987
� . �'�-3��N° 06�63
st. Paul Port Autho ' DEPA ENT . _ _
J.A. Campobasso, E.R. Kraut CON C
aa4-5686 PHO E
February 23, 1987 DAT �� � Q, Qi
�
�
ASSIGN NUMBER FOR RQUTING OR Cli A1 cations for Si natu e :
1 Department Director � Dir ctor of Managemen�C/Mayor
� Finance and Management Se vices Dir t r � � Cit Clerk
Budget Qirector �: E TERPRI$E zox� cxEnzTs
�� C�t,�/ Att01"11@�/ 3 PROPERT�ES ADDCO MFG. &. ?:
NICHOL50N GO.
WHAT WILL BE ACHIEVED BY TAKI G ACTION N HE ATTACHED MA ERIAL ? (Purpose/
Rationale) :
Enterprise Zone credits wil be used a n incentive for 3N P operties to construct a new
24,908 square foot manufact ring facil't in Empire Bui�der l dustrial Park.
�
3N Properties will sublease the facil' y to ADDCO Mfg. �nd Ni holson Companies who togther have
31 full timme employees and will crea e new positions wi.th he construct�on of this facility.
Attached are two copies of he Partic'pa ion Agreement �or re iew and execution.
COST BENEFIT BUDGETARY AND ERSONNEL MP CTS ANTICIPATE :
RF('�I�/Fn .... _.
N/A . . ,
141A�; � 19�7
FFiCt 0� �HE D��tEC�rOR '} .
EPA�'fM�NT OF F('NANCE
' MANAGtMENT SERVICE�
FINANCING SOURCE AND BUDGET ACTIdITY U ER CHARGED OR REDIT D: (Mayor, 's signa-
ture not re-
Total Amount of "Transac 'on: quired if under.
� �10,000) _
Funding Source: /A
Activity Number: • �
ATTACHMENTS List and Numb r Al1 Att c nts :
1. Draft City Council Re olution
2. Staff Report
3. Participation Agreeme t •
cc. J. Shoholm
DEPARTMENT REVIEW ' CIT • ATTORNEY RfY�EW
Yes No Council Res lution Re ui ed? ' Res lutian Required? Yes No
Yes No Insurance quired? In rance Sufficient? Yes No
Yes No Insurance tached:
. (SEE •REVE E SIDE FOR INSTR�TION ) � �
Revised l2/84
�
e _ ��-3�
�
PORT AUTHORIN OF THE IlY OF SAINT PAUL TOLL FREE(800)328-8417
1900 AMHOIST TOW�R • 345 ST. PETER STREET � ST. PAUL, MN. 55102 • PN�^:E(��2 j 224-5686
Februar� 23, 1987
Mr. JaQnes Bellus Director i
Planning & Eco ic Development Department �
City of St. Paul �
13th Floor City all Annex � �`��_
St. Paul, Minnes ta 55102 -�-�� ` �
SUBJECT: �� ��
3N Pr rties/ADD00-Nicholson Canpanies
Dear Jim:
W�e sut�mit herew th for your review and referral to the office of the Mayor,
City Council an City Attorney's Offioe details pertaining to the issuance
of Enterprise Z ne Credits to 3N Properties. The credits will be in tl�e
form of $100,00 in State incame tax credits made up of $20,000 in employee
credits and $8 ,000 in debt service credits. Local c�ontribution in the
a�rount of $108 631 has been approved by the Stat� in the fornn of
infrastructure improvements in E�npire Builder Industrial Park.
Enterprise Zon credits will be used as an inceritive for 3N Properties to
c�nstruct a ne 24,908 square foot manufacturing facility in �npire Builder
Industrial Pa . The campany presently has 31 full-time employees and will
create 7 new sitions with the o�nstruction of this facility.
In addition t the staff r�port, w�e are attachi�g the Participation
Agree�nent and a draft vopy of the proposed City Council resolution which
authorizes th execution o� the Participation Agreanent and the su�mittal
of the propo 1 to the Department of Energy and Econanic Developnent and
the Departme of Revenue.
Your expedit' us handling of this matter will be appreciated.
Yours truly►
9.',-�`' � ,' ��f�!�..�
� Eugen A. Kraut
EAK:ca Executive Vice President
� Attach.
� cc. Mayor L timer
EUGENE A KRAUT,C.I.D. DO D G.DUNSHEE,C.I.D. CHARLES M.TOWLE CLIFFORD E.RAMSTED,P.E. PERRY K.FEDERS C.P.A.
EXECUINE VICE PRESIDEM ASSL EXEC.V10E PRESIDENT DIRECTOR OF INDUSTRIAL DEVELOPMEM CHIEf ENGINEER DIRECTOR OF FINANCE
RICHARD A GIERDAL WILLIAM E.McGNERN cssr m�,surtEa
PROPERIV MANf�ER DIRECTOR OF PUBUC REL4TIONS
COMMISSIONERS GEORGE W.WINTER WILLIAM WILSON ARTHUR N.GOODMAN VICTOR P.REIM RAYMOND E.LANGEVIN CHRIS NICOSIA JEAN M.WEST
PRESIDENT VICE PRESIDENT SECRETARY TREASURER COMMISSIONER COMMISSIONER COMMISSIONER
C.I.D.Certified Industrial Developer
^ -- -
C TY OF S,AINT PAUL i � � J � ��
= • FICE OF THE CITY COIINCIL
���a��• �
•�If��n�����
�nu��
•= Date •
.
• March 9. 1987
I
COM (TTEE RE PORiT
i
.
TO t Saint P ut City Councii �i
F� � M � C O fYt(11 lr @$ O h C i tv Oeve l opment �Ind Tr�ns r t i on
� po ta _
CHaIR
Wi 11 iam L. :�i lson
�
j
I �
I —
1 . Zoni a Priorities (Committee rec mmends apAroval )
2. Ente Aris� Zolnej 8 E3nd (3tv prope ies) (Csnncrt�ttee
reco ends adarovai ) �
3. ApQe 1 of Planning Commission De�ision (Wm.
Mitc ell - Jean Kummerow) (Commi�tee recommends
aAO oval of Kummerow aApeal )
�
� . � -�-- AAa a 1 of - P 1 ann fing Comm i ss' -
, - - --- �ion` - Midway____.
Coa ition - nonconform�ng use11309 -1311 Hewitt -
.foh Wilson (Moved out of commit�tee without
rec mmendation� ; •
.
�
�
�� �-:�
II -=r =�
♦^�
. . . �_ '2 G.�i
.:{: �
� ' ' , - �
_-_ r
+ _ � � �
� _ ,_� •
_
.. _
. .
.
- c;;
IT1 �J
i
.
CITY HALL SEVENTH FLOOR SAIN'T PAUL, MINNESO'TA 55102
��� i
1
� .
� .. . _._.._.. . ._... :,..:...__ _ ___ ,_ I ...,�,...�,....�_..e.�.-.-,...,�..�„-.�.� _.
t �y_ ��2.
�
.
NO►rICE
Applicatio s for reclassification of propert� through Saint Paul's .
Riverfront Ente rise Zone Program have been filed by 3N Properties/ADDC'O
Manufacturing, icholson Canpany, T & J Enterpris�s, and Synetics
Information Sys ems, Inc. .�The property proposed �or reclassification is
located north o F�npire Dri�e in F�npire Builder It�dustrial Park just west
of the F�npire B ilder Business Developnent Centeri.
The prope ,y reclassificateion will be oonsic�ered at the follawing
publ ic meet iri� s.;. � _
�
;
District 6 PI� CounCil � 6:45 p.m. ,
'ILesday, March ]��,3987 . `�
1021 Marion
;
St. Paul, Min 55117
Thanas-Uale strict 7 Planni �ouncil
Wednesday, Fe ruary 18, 1987 � 7:00 p.m.
379 Universit Avenue
St. Paul, Min esota 55103
Cit Devel nt and Trans rtation Ccamittee
,
Monday, Marc 9, 1987 = 1:30 p.m.
Roan 703 - 7 h Floor City Hall , ;;;
15 W. Kell Boulevard :
St. Paul, NN 55102
Saint Paul it Council Public: Heari .
1�esday, Ma ch` 17, 1987 .� 10:00 a.m.
City Coun�i Chambers ,
3rd Floor�- City Hall
15 W. Kell Boulevard
St. Paul, 55102
Inter sted parties are w�elcane at any or all of these meetings. The
applicant, the assessor, representative of tMe affected taxing authorities,
and any Sa nt Paul taxpayer may be heard or may present their views in
writing at or before the March 17 nublic hearing.
Copie of the ap�plications,Ythe reports of the Port Authority of the
� City of int Paul, and the prop�sed Participation Agreenent between �i
Propertie /ADDOD Manufacturing, Nicholson Cc�mpany, T & J Enterprises, and
Synetics nfornnation Systens, Inc. and the �ort Authority may be inspected
at the Po Authority office during normal lbusiness hours. Written
ca�ents y be delivered or mailed % P�rt Authority of the City of Saint
Paul, 190 Amhoist Taver, 345 St. Peter Street, Saint Paul, NaV 55102.
Telepho inquiries may be made to John Campobasso, 224-5686.
, , � l �` ���
} �
F�- `�
�
� �
� .0
= rti
. � � cr�
� `�
♦ � y
1 1 �../
� { I ! � ._ {-� v
���- � L
��y O �"r
Q� �
� � �� O
- � �
�a � . _
�
; o
.:
`dm , �� �
fl���0�❑
���-�X�
�������
; ���W���
; ��a�����
.
.�� t:�. ����o���.
�: 1�;, ������� V �
� nI � E
, �:L�� ������ � �
j� � �
�... � W����� c� Q
...,�_.. ._ ���� C, —
...... Q fl..
. ; � ... ...---�- ��1.�� z � �
, ¢ � �
���U�������� Q a C �
L � �
� a. �
�r
�. �
= E
� V s
F-
� � �� -3 �.�
2�18�8�
STAFF REPORT
RE: 3N PROPE IES (SUBLEASE TO ADDC�O MAN[JFACTURING, NICHOLSON CONIPANY)
ENTERPRI E ZONE APPLICATION
A. PROP06ED IAYMENTI' PROPERTY
3N Prope ies proposes that approximately 103,170 square feet or
approxim ely 2.36 acres of land leased fran the Port Authority of the
City of S int Paul in the �npire Builder Industrial Park be determined
eligible for reclassification as Esnployment property through the City's
Riverfro Enterprise Zone Program. The p�operty will not be formally
reclassi ied for tax purposes as an alternative oontribution of
infrast cture improve�nents is being provi�ed in lieu of local property
tax redu ion. This alternative oontributfon has been approved by the
Minnesot Department of Energy and Econani� Development. The property
descript on is attached. This property is' identified by the Ramsey
County T Department through the property' identification rnnnber
09-12000 190-05.
This pro rty was formerly owned by the BWrlington Northern as part of
its Jack n Street Shops canplex.
B. INIP NTS AND PROP06ED USE
ADDCO ufacturing Co. , Inc. manufacture5 trailer-mounted,
progr ble message signs used primarily for road oonstruction and
hand an electrical controls for industri�l machines. Nicholson
Cc�npany Inc. custanizes diesel and gasoline engines for the industrial
trade.
3N Pro rties will eonstruct a 24,908 squ�re foot production facility
to be s bleased to the canpanies owned by the Nicholson family. 3N
Propert es is a Minnesota partnership consisting of the President, Vice
Preside t and Secretary Treasurer for ADDICO. The Port Authority has
approv the use of $910,000 of industria�l revenue bonds to construct
the ne facility with total new investmer�t estimated at $1,123,720.
C. PR�7E D INCREASED MARKET VALUE
� The ma ket value will increase by the amcaunt of the improvements plus
the la d value as the property has not �enerated any taxes being owned
by the Port Authority. The develop�nent will result in an est unated
market value of $500,000 which is .00008 of the market value of all
taxabl property in Saint Paul.
�.G �� �y�
D. RETAINED NEW JOBS
The c:�npa ies have 31 full-tune employees who will be retained in Saint
Paul with oonstruction of the new facility. In addition, the canpanies
estimate y will hire at least 7 new employees within the next tw�o
years. e canpany has entered into a City of Saint Paul Dmployment
and Train'ng Participation Agreement and anticipates recruiting froan
the u�nei ate neighborhood.
E. DRAFT P ICIPATION AGREEMENT
A draft P rticipation Agreement has been negotiated with the following
tax benef ts:
Annual 2-Year Total
State Ne Employee Credits 10,000 20,000
State Deb Financing Credits 80,000 80,000
Alternat' e local contribution is $108,631.30 based on $47,231 per acre
of Port thority site improvements. The contribution has had prior
approval fran the Department ofYEnergy and Eoonanic Developnent.
This rep esents a private-to-public ratio of approximately $11.24
private r $1 public tax reduction or credit. It also represents one
n�a job r $14,286 tax credits or reductions.
F. COUNCIL INDINGS
The 3N P operties' application proposes creation of up to 7 new jobs,
none of ich vaould be a transfer fran ano!ther Minnesota municipality.
The pro sal will riot result in the abandorment or demolition of other
property owned by the applicant in Saint Paul causing reduction of the
assessed value of existing property within the City.
G. RECOMh1EN TION
The staf of the Port Authority of the City of Saint Paul reca�nends
the Cit Council approve the attached Participation Agree�nent for 3N
Propert' s as drafted. Staff further recc�mends the City Council
detenni e that the project is eligible for employment property
reclass'fication and that Attactgnent C of the Participation Agreement
be forw rded to the Conanissioner of Energy and Eoonanic Developnent.
< � �� — � s��
;
- PA�?ICIPAZ'ION AGB�
BIVEBFROI�1? EN'lESPRISE ZONE
CI1? OF SAII�? PAIIL,
Preaable . __ . :
_ _
1. Pmrticipating usiness: 2 Applicstion Approval
3N Pro ertie Sublease to Addco Mfg.
Naae and Nich lson Co. ) Date
Addrass C.P. No.
1650 Carroll Avenue City Couacil
Saint Paul innesota 55104 Employment Prop�rty Classification
Effective Por Assesa�nt
Yeara 19 _ thru 19 _
- Employment Property Clasaification
_ Certification by Commiasioner
Departm�nt o� Rtv�nue dated
. -(Attachment C)
3• (Peraoaa)(Offi ers) Authorized to Siga for Participating Buainesa: '
- . Timoth J. N'cholson
Name Name
President �
Title Title
�
Z)
S gnatu SSgnature
4. Person Authori �d to R�ceiv� Com�unicationa for Participsting Busiaesa:
Timoth J. N'cholson
- Name Ia Authorized to Receive Co�unications
President Pr�s t�� City or State on Behalf of
Title th� Participatiag Busiaess.
. 1650 Carroll venue St. Paul MN 55104 '
Addr�ss
(612) 645-397
Telephoat
1 - � . I /��-�-�yz-
5. Description o Property to Receive "Employment Pro e '•
Clasaificatio (Use Description From Rams� P rty �
of Taaation, 26 City Hall and County Cour houe)y �partment Space for Use of
Ramsey Countq
• Dept. of Taxation
_ . __ _ . . . _ _. _ PIN .
. Classification
_ Entered:
Date:
See Attached
>
(Ua� Reverse 3ide of This page It Necessary)
6. Alternative Lo al Contribution: Ye� X
----- ��
�_
Description alternate local contribution plan comprised of buildinq
demolition, si e preparation and infrastructure improvements within the
Empire Builder Industrial Park was approved by the MN. De t. of Ener
Economic Devel pment. p qy and
7• Typea of State as Beduction:
(a) Sales Taz E emptlon �
(b) Iacome Taz redit —� �uat
(1) E�ploy Credit
_� Aaount �o,000
(2) Debt S� ce Credit
. - _�_ �mouat �so,o00
(c) State Paid roperty Taz Credit
_� Amouat '
�e tyPe a� unt of ez�mptioa aad credits sha1�1 b� those as c�rtified b
Commission�r of Energy aad Economic Deveiopm�At� If there i� variaace betwethe
this sectlon a th� Commissioner'a Certification, the latter will control
Attachment C).
en
Subject to comp iance with this Agreement, to th�
Statutes 1984, ectioa 273.13I2 to 273.1314 iaclu�siv�,i=�nsuch regulations a
msy be adopted th• Department of Revenue or of Eae
(th� '•Act"), an upon fili s
a8 ProPer taz returns and sah dulesEcth��c Development
buaineas is �li ble for credits aa g d participatiag
PrOPelty tau li 1lities for the t� pprp�Tiate against Minneeota inc�me ra. 3��
yeara 19� through 19 g�. .
- (.,� ��-.��z -
�
8. COVENANTS BY P TICZPATING BUSINESS: -
In makiag appl cation for enterprise zone credits, the participating business
has represente and hereby covenants, for itself and its successors or assigns,
. (the "Particip ting Business"): , ,
-- - -- (a) that (it) xxxi�a� will submit construction plans and evidence of financing
and will c mmence, diligently pursue and timely complete improvements to the
property d scribed in Section 5 above ia the dollar amount and as specified
in the "Pr perty Improvement Schedule" anne�aed hereto as Attachment "A".
Co�enceme t Date April 15, 1987
Completion Date October 31, 1987
Amount $ 71 000 �
(b) that (it) (xxxkt�k will recruit, employ and train new employees resident in
the econo c hardship area designated in the Riverfr.ont Enterprise Z.one
Program, o persons who are unemploqed and ecoaomically disadvantaged or of
a protecte class in accordance with the provisions of the "EMPLOYMENT AND
TRAINING DULE'• anneaed hereto as Attachment "B", and that the minimum
- mimber of ew employees shall be as followa:
Number of New Employees 7
(c) that (it) ( xxxtr�c) will maintain complete rerorda respecting its performance
of the co enants aet forth in Section 8(a) and (b) herein, and permit access
to said r eords by accredited representati�res of the Minnesota Co�issioner
of Revenu , Ramsey County Tax Department a�d Saint Paul Port Authoritq; that
(it) (�X ) will report quarterly to the D�ivision of Job Creation and
Training he aumber of hirea covered bq this Agreement; and that upon
request a d at least annually (it) (Xxx� will report to the Saint Paul
Port Auth rity on forms provided by the Sai,nt Paul Port Authority on
construct on completion, new hires and other direct or indirect economic
activity esulting fron its facility operationa in the Riverfront Enterprise
Zone.
(d) that (it) �cxx�cjc will promptly and satisfactorily perform each covenant
herein u ertaken and each other requiremeat of the Act, the Program or of
thia Agre ment imposed as a condition of the approval of the application for
and grant of taz credita aad designation of property classification.
9. REVOCATION
The Council y revoke an a2ternatine local contribution and may request the
' Commissioner of itevenue to approve the revocation of a classification pursuant
to the Act i it finds and determines by resolution, after hearing upcn notice
mailed to th applicant by certified mail at least 60 days before the hearing,
that
(a) The cons ruction or impronement of the Participating Business' property and
operatin facility hae not been completed within two years after the
approval of the classification, or aay longer period as map be orovided in
Section (a) hereof; �
,
. �'�� �`�°2
. -
(b) The Parti pating Businese has not proceeded in good faith with the
. ' construct on or improvement of the facility, or with its operation, in a
manner wh ch is consistent with the purpose of the Act, the representations
of the ap lication, or the covenants of thiB Agreement; or
. _ _ ___:. _(c) The Parti ipating Business has misrepresent�ed a material statement contained
'. in its ap lication for tax credit has failcd to perform any express covenant
of this reement or is not in contiauing compliance with requirements or
condition for approval or grant of an alternative local contribution, state
taa reduc ions or credits under the Act, the Program or this Agreement.
REVOCATION OP AN ALTERNATIVE LOCAL CONTRIBIITION OR OF AN EMpLOYMENT PROPERTY
CLASSIFICATIO SAALL TEB1iINATE STATE TA% EREMPTIONS, CREDITS AND REDUCTIONS.
The City Coun il may impose or request impoaition of a remedy other than
. revocation, i cluding withholding of eligibili�y certificationa for credits,
exemptions or reductions, or institution of suit for specific performance or
other remedy. n law or equity. No failure of the City to exercise or make
selection of particular remedq for breach of this Agreement bq the
' Participating Business shall be deemed .a waivez of its rights to enforce
performance b the Participating Business of its obligations under the Act or
this Agreemen by any reaedy available to the City ia law.
10. RECAPTURE
In the event he Participating Buainesa ceases to operate its facility in tt�e
Riverfront E terprise Zone within two years af ter the eapiration of tax
reductions u er the Act and this Agreement, the Participating Business
covenants an agzees that it shall repay the amount of tax reductions and of the
local contri ution pursuant to the following schedule:
?erainatfon f Operations 8epay�ent Portion
Less than 6 onths after expiratfon of tax reductions 100 percent
. 6 months 75 percent
12 months or more, but less than 18 months 50 percent
18 months or more, but less than 24 months 25 percent
The repaymea ahall be i�ediately due upon such cessation of operation of its
� zone facilit , payable to the State of Mianesota to the eatent it represents an
income tax c edit or reduction and payable to the City to the extent it
represents property taz reduction or other local contribution.
11. OTHER TERMS
I
,� �i-, �_���
12. EFFECTIVE DA � . -
This Agreemen has been accepted and executed an behalf of the Participating
, Business by t e officers whose titles and signatures appear in Section 3, above
The Applicati n and Agreement have been approved bq action of the Saint Paul
City Council s recited ia Section 2 above, and is executed on behalf of the - -
. City of Saint Paul by the officers whose titles and signatures appear below.
This Agreemen shall be effective upon its exec�ution in Section 2 above and its
d4livery to t e City of Saint Paul by the Mianrsota Commissioner of Revenue or
hia suthorize designee.
CITY OF SAINT PAIIL
By Date
MAYOR
By � Date
CITY CLERK
By Date
DIRECTOR D PARZ1'�NT OF PINANCE� S MANAGEMENT SERVZCES .
Approved aa t Porm
Assistant Cit Attorney
e
I
. . • ��7-3`�� .
_ ' P 4PERTY tMPROVEMENTS SCHEDULE
� , ATTACHMENT��A„
� PARTiCIPATiON AGREEMENT
RIVERFRONT ENTERPRISE ZONE
3N Properties (Sublease to ADDCO Mfg. & Nicholson Co.)
PARTtCiPAT(NG BUSINESS : -
A. Faciliry deacription . : __ ._: ,: __ ._ _ _ . __
The com an will co struct a 24,908 s are foot buildin consistin of 4,300 s uare
- feet of office and the balance roduction s ace. Th� facilit will be constructed
on 2.36 aczes in pire Builder Industrial Park.
8. Construction Speciftca�ons identify every specification or drawing.dtle:date and approving architsct or engineer)*
A r t' s c'fications will be submitted to the Port Authorit for review.
(copies of each drawing or s ecificatlon must be supplied to the p0!"t AUtI101"1 Ly�
C. Construction Ccst Detail .
. w'1 throu h
the Port Authorit
D. Fnancing commitmerits( ity and moKgage rtnancing) •
Port Authorit has a roved the sale of 876 revenue bonds for the project and
Miller & Schroeder Financial has agreed to purchase �he bonds.
'Preliminary plans may bt bmitt�d with ths Application.Within__�y,s a}app�a��a Application by the
CcmmissionK of R�u fl�l constructfon plans and sp�ci�cations acc�ptsbl�tp y��Cily will 1»submitt�d.
3N Pro erties Sublea e to ADDCO Mf . & Nicholson Co.)
' _ P RTiCtPATIN 9USiNESS Ci!y of Saint?aul
� . . .
By .• �' By - .
8y BY
.
�-���°Z
, PLOYMENT ANO TRAINING �CHEDULF
ATTACH�AH�tT"�
�
PAIa'TIGyPAT10N AGREEMENT .
fiN�9FRONT ENT�APRISE 20Ne
, ,� _ , .,.. _._ .._ . . 3N Properties (Sublease to At�DCO Mf � N• . .. ,
_.
g- icholson Co.) -- �
- _.- _-_ z-=_ - , :._. - - . . PAR1'IClPATItV(3 BUS�NESS .;
_ . _ _ _ — - —
I. . GENERAL _ � _._ -
A►. n+�C+tY dtiirrs to i emplayment oppo�tunid�s tor Ciry rasid�nts whc are Iow/mad�rate income cr
economieslly di ed(i.�,JTPA-Nigibl�dNin�d in Exhibit q witlf OwNop�t/Employets fa�jobs within SairK
Paul's Rive�onc Enb� ' Zon�
8. Dsv�loper/F.rnployer a to ust tht CJry as its primary aourc�for recn�itrnent training.reterral.and placament of
. new cr replacsm�nt IwM emptaye�a�rt accordannc.�with th�htm�of thia Agrs�m�nt
C. The City's�N�gat�ag cy wi11 be the Job Creation and T�nin9 S�ction in ths Department of Planning and Eco�iom�c
Qevelopmen�Sa�nt Pa .MN 55102(Job Cresaon).or any oth�r appropnat�Ciry agenry as may oe des�gnaced by the
1�layor.
D. This Agro�m�nt Nh�tiv�upo�th�date hersof and shall continw fo�fiv�y�us}rom th�time
�P�oYK/O�vNopK Pi�s taciiitip in th�Riv�rfront Ent�rpris�Zo�.unlps tKminat�d as providsd herem.
E This Agre�rt+ern shail applicablt to a110�velopsN Esnployer n�w or hplac�mer�t enb�y Iwsl pasitio�s for which
low!modaat�incom� r economically disadvantaq�d(i.�..JTPA-Nigibll�)pwsons art or might reesonably be
ava�labl�.This Agra�m shal�not aoply to tltos�j�s CovKed by�xi�ti�q cp1l�Ctiv�buqaining agreements or�ther
�ontracts to which th� p�r/Ernpl�i�a party.wher�th!cums nf thi�q9��Mt would caus�
O�veiop�r/Empioyu b��ach�h�arov�sions of wch ag���na �
II. RECAUITMENT ' .
• A. The employm�nt positi ns covehd by this Agre�m�nt�incfud�all OeveiopK/EmployYr job opening�Perfarmed w�th�r°
�e Fiivertrorn Ent�rpn Zon�.in the Clasii�iCations,Otl�enQ qualiAqliorts con�n�d in Exhibit A.
� TMQ���aPKi�P� will notlfy Job Creatlon of ib nesd for ntw emplay�ss ir�covKed positions as soon as the
�evNopeN Empfoy�r d �des to hire such employees�,;f pcsa,bls.tift�n(t S)worlung d3ys pnor to the expected
hinng datq.Watificstio msy inctud�th�information requihd in Exhibit A.
C. Thr D�velop�r/Emp will provid�,Job Creatlon with ib bNt�s�ma1�of ff�numbK and tlming of poten�at job
op�nings.�tirough us� U»form prov�0 in Exhibit 8.
D. Tri��DwMopK�Empl mnr notlh►Job Crrado�of aR vacancies for OfwlopK�En�ployer op�nin�s in th�Riverf�om
Er�bcons.zon.whi«+u.na cov.r.a b�r this Aqn�nr.nc Tf,•o.v.�op�N Employ.r is noc ob+igaad co hiro emp�oyees
trom�nl�rtals JoQ Gration.how�v�.mustd�rtanstrac�s 9�od taith�at in this ressrd.
E Job op�nings which 811�d by int�nd promotlons troen th�p�wl /EmployK's Iop1 work forca are not covered
bY this Agrs�nt �
III. REFEAR14L
a �ob crs.�on wi1�ro1K icams acc�g ao�,.qwutk�ons nqw�.d br O�w1op�N Ert+p�orer-
B. It training for specitic j op�nings hss bNn agrssd upo�b�hw�n th�Ciry and Oe�rNopeN Emplvyer in a separate
agreement under V.hersof.tnlinN appliCanb w�Il b�COnsidK�d qualiAsd only wh�n ths ttaining is
succ3ssfully comp by applicant
C. Oev�lop�r/Employer the ri�t to msk�all decisions cn hirin9 n�w o�addi�onal empioyass,including che
quali�ication�of appli ts,but agrNS tD hir�tOr Covered pp�tlpns frptt art�0�g tho�p�aons referred by Jcb
Creadon who me�t th job descnptions and qualifications,o�other p�r!aons cKtified as elig�bl�
_ .
�,
< . _
IV. PLACEMEIHT
- A. When Oevelaper!Erttployer notifies Job Creahon of job opernngs�n covered pos�hons�+no�to tifteert(15)worlanq days
�n aavance of ths propcsed date.to hire.Job CreaUOn w�li nobly the Emp�oyer five(5)werking days prior to the -
appl�cadon clos�ny dace oi the number of appiicants Job Creaqon w�ll reter. .
8. If Job Creation cannot refer the totai numbK of qyaliri�d persons.th�Oevelope►/EmployK may fill ths re�na�n�ng
pos�aons by any mesns
- G JobCr�atlon w�ll a►prpvide sssistartce 3nd moni�ot job rotMtlon of�mployM.s piaced und�r this a9reement tor six -
montl�a,and b►monibor O�velopK/Employer's perfortnace undK this Ag�e�msnt O�vMopaN Employer wiil subm�t
�uarterly Hiring$�tnmanes in the farm attact�ed as Exhibit C.
0. Atter th�OevelopK/EmplCy�►has hited an appliCant referrod by Job Cro�tlon:Job Creation will not b�respcns�ble tor
the employ�i s conduct and th�OevNoperi Emplcyer roleasas Me ciry r�om any i�abi�iry to�m�acKioc+s of such
unploye�s.
V. TRAINING � •
A. Job Creadon and tht OweiopeN Emplayer may agree in a sp�rate agreement to devNop classroom aa�ni�g.
on-th�yob tra�ning,pn-employm�nt tra�ni�g or other tnirnng p�ograms.Tht Lra�rnng sp�ccficabcns and cost for such
tra��ing�hall b!sit forth+rt that AgreamMt
8. 'Th�OwMopK/EmplcyK w�il not discontinu�routin�on-the-job Vaini�9 to employees hirod under this Agreement
b�caust ot this Agr�n�nt or suppl�n�nb tc this A�ro�ment .
�
VI. CONTAOLLING LAIMS AND AGAEEME�ITS �
A. If this Ag�s�rt��nt�icLS with or roquiros OevelopsN Empioyer to bretct�an existing co1l�Ctiv�bargain�ng agreement
or any oth�r ex�sting agn�meMS,sa�d agre�m�nb shall prevaii.
8. OevelopK/EmployK will provid�Job Creaticn with wnt�M evid�nc.�that O�vNopK/Empioyar has prov�ded the
represantaave of any colleCtivf b3rga�ning un�t with a copy of this Agreement 8nd has roqusst�d comm�nLS from said
� urnt Oev�icpK�Em�oyer wiN provid�such commenb to Jcb Cr�tion.
� C. The DevelopeN Emptpyer will comply with any loql.sfat�..or tederal law o�regulatio�as they pMain to the Enterpr�se
Zone des�gnatlon. •
VII. OEFINITIONS
A Riv�iront Enta�priw Zons
Th�ana dagnatrd by th�SO�s af Mi�naofs as an am�rp�i�mn�as d�lail�d in Exhibit 0.
B� Coversd Ern�oy�
N�w or r�plac�rn�nR�try I�wl�ployNS and such oth�r employs�s as m�y b�mutusify asre�d upon b�tween the
P��
3N Pr�nerties (sLhiaaG o D .o M Q„ � Nicholson Co.)
PARTI�tPATlNCa BUSINES$ City of Saint Paut
_ — .
eY - '' y�- ey
�► er
. ��7-�y-2
• , _
�. � arrACHMa�r a
D(H181T A ., .
-- - - _ , -J06�ORDER FORII� : � . -. . _ _ ,
Ciiy.of Saint Paul .: ._ ,,,_ . - � _ - _
_._ _..
.-. :-- _ :
. _. �.. _ _._� -
. O�pahrnsnt oi Ptanrnng and Economic O�velopm�nt
Job Cre�tio�and Training SeCt�on
-- _ _
t. _ �pI�K _ _ _ _
... - _
2. Qaa
3. Jotr Tid� .4. Numb�t of Op�nings
S. Job Lcestlo�
�. Ccnact Persort Phon• �
7. Sup�rvisor 8. 8�gin�ing Dat�
Ending 9. StaRi�g Salary S psr
10. BtnM�q _
t t. Oays to b�wcHc�d t 2 Houn
13. Will union memb�rship b� it�d?' Yes Np
It yss.whieh union and 1 number
t 4. If this job involved on-the-j training tO b�wbsidized by th�City.how long will that training psnod be7 -
(attach sp�cific training D 1
15. Spet�fiC Oudes
t 6. N�cess�ry Cuali�csrions "
Skill I�rM cf edu�atiat. �Vainieg nquin�Eo�ntr►pro�ram(indudt Ik�naa and/or c�rtificatas nectssary):
. _
. ��/" �7�
. 17. Are you�employesa in th�s po on expected to provid�any necsssary��s�n�e job(a►?Yes ' t�o '
ptease attach art�tem�zsd list( �th pnces!of t�ls (�f Yes.
requirod for�aCh positfpn.)
18. Describe any on•the-iab;rdini you normally p�ovide for this position(i.e.,w�tMout Ciry tunding)
: :- - _.::_ __
19. _Is there a possib�iiry for aromOd n from this jo0?Yes_____ 1 . .
yp __ __.. _.____. ____.... . ,.. __. .. .
�f yes.to what pcsition�s)? _ . . _ __ __ -:
Z0. EnvironmMfal Condlllons 21. Physicsl pMfs�d= .
a.Working Environmsnt a,StroncjtA=qb bm�job witl requiro
Ins�d� _,_�% . Smnding__96
_ ___ ___ _ _ .WatWng � _ _ _
Outside __ 9b Sitpng ab
Yq 1�p _
b.Extreme cold w�th or w�thout - W�9ht(IVumber ot Pounds)
temperacure cranges ��ng Carry�ng
Pushimg Pulling
c.Extreme heat w�th or w�thouL Yes No
temp�rature changes
b.Climbing '
d.VVet and/or humid ���^� ,
Stoop�rtg,
e.Vibraron KneNinq, �
_ . Croucttinjg
f. H3Z3rds . Crawiing
Mechanical R'achin�
����I Handling'�
8ums Fingsnng�
Exp�osrves -� Feeling
Rad�oacbv�ry _ Talking
Other hearir?g -
— -"- � Ordinary Ccnversation
. g.Atrnosoh`sric Condi�ons Otha 5ound�
Fumes -
Ousts . — - SNing
Misb -- Acwty.Ne�r
Gas�s _ �►c�utY.Far
Pcor V�ntitation -- ���tiort
� Oth�r -- Cofor Wisiort
'—", —'� Fela of Vision —
h.Nois�
EsOmaUd Maxfmum
NumbK of Decibels � ,
22. Could a person with limlted Engl' sp�aking skiils pertonn tAis job? Yes_� No__
Could a oKSOn wrth limit�d Eng!' rpading/writing sfcills perform this job? Yes_,_ No
23. Is public transportation eas�ly ac essible? Yes No
24. Does the�ob reqwre shiR wenc o other than traditio�ai hours? Yes No . �
(�t yes.please c�ar�fy�
� t . . � 'C/ " / �7�
ATTACHMENT g
. . -
-, ' EXN18fT 8
� EST1NlATED HIRING SCHEDULF - �
Ctty ot Saint Paul
- Oepartmsnt d Plan�ing and&onomic OevNopment
_ Job Crptlon and Trainin9 Secnon _
��� ADDCO MANUFACT RING. C0. , INC. _
._ , _ _ 02-19-87
• � �. _oaa
. j
J� T ��� Immediaot Futuro
Titles LCCatlons New Hires IWw Ni�
(No.3 Date)
Assembler 2 as of 2-16 87 2 Fall of 1987
' 1 as of 2-24 87 Z Spring of 1988
1 Summer of 1988
_ `
� �
. I
�
. �
�
. , , �
. ,
I . _ �
I . '
. �
�
. ,
�
�
�
.
i
�
,
� � •
� �
�
f
� �
�
i
�
i
� , .I (,d��--��-���
. -
� ATTACHM�IT 8
D(H181T C
QUARTEALY HIRING SUMMARY �
. _ - _ _ _ .
-.- .__ - __ Fo�Cuarter Endi�g
• Lisad bNow ar�th�poaitl in your�rtn which a►�covKed und�►th�Em�ioym�nt and Traininq Agre�ment with the Ciry.
PNas�liat tt��numbK af ' tor tt�is qwrt�br xcl�cat�gay and nEUm Ihis torm to tht Job C�qtlo�and Training
S�ctiort witrrin tftiKY 1301 tolbwing the ctosf�th�quart�r. -
�
i
P�T�� � • ToW N�w Mins
1.
. �.
2
3. � ' '
4. ' � •
S.
6.
7. -
8.
t certify that the abov�int rtnstion is tru�ar�accura�,
. Authorizrd Signdu� '
� . nn.
oat.
. Pl�w r�lum this tam
Job Creation and Trsini S�cricn
O�Parvn�nt of Plannin9 Eaoncmic O�vrlopen�nt
2S Wist Fvwth StrNt
Saint Rau1.Minn�sota 102 .
, . � G�-����
A{.�.CblMll�il{. SJ � LAII IY 1 {. 1/
r�r�,� � , ' ,' : � ; �� n�-n� � ���_
..,� r—� �r- �a • - �' / �.. � � II :; p �
� �. ��i � �� i • i � �� �. � __'� 't_:���' ���Q��""C
.
� � � . � �•. �--<<--,r-, r--.---, :—�
—� = i !I :� yr' I� �r. .� . ,; , ,; � ��r t.. ��
��� � ��_ �� : �- -:� ►��J �� = �--��-
~ � � Ii�� � � t� �- � � ' ��T� T; �� ,��� �\�M,
- __ _..��� ~r' � �,►� � ��ii .:�:'�-r.. ( ''�--------�---
�'���.��'���� _��.���� � � � t�s�i�--- �
!�♦ . ����� � � �:� �� �� �! �fT ' � �1'�T
, i` -�i--- =���T/�- -_� •�h • � 'f : � i �t+ �+' .
=� -_ - -_- • , ' - �� � R ? •, 9 � �a�—=
�� , � .. ..... .. �) t ��==f.*�:r"�i:1:1_1..:.:...r.., '����.�.,�
. =i—�r=- �` �� '� ,.'...�.��—�"_"' ��,i _.T
_''�-..�.t���� �� ` �;�, :l�` '� � �l�' ;_--.- _.�� �
—- `"'�L � �" .. . '� �� �; �� �...� o !�_
,
�`I .
= . . , 1�� , ; •..,�[.,,,a ,.,s :
._.� I � '--v � ,:,��? � � � •• • i �
—�0`...0 � ;�� , ,� :.J ;� ... .. � o '����-� —
����0� � � �'' ' ��; • � ��
� -_ -., . � ~�-- � _
�i �-� - , •x;� ,�
���� i r � ' � '�. �.t,,,,.} _ /
.�U �� - .� I '�- �� ✓ �
��--�o�� :��-, � ,. � , , � �. �� c_
-�. �_ . .� : � :� ;� �����
� � �?____.�. � � . . � ,,�
i�- .;-�, � � �. � � .' ��;�-� � �� ��'. �
C� - � ,
. � ,
�� f,' I j �, c� �,� �j , � ^ � ��;,;,�,4
�� ^�� � I( � �\, �� i\�' �� r �\ •�:
L—J �� � • /%
� �� � n � .' ` �
� .I �' \
�i` / � �o �/� S ,�,.� .
I --.... � , / \'/, ,,� ��t•+'• �i•��_____•_w ,` '��" % �
+���� \ " �� � ��: \ .�C
� � J �� �� � .\�
�^—, � ' _ `jU � .,.�� •�1
�U �t � U`� � �°• � s ��
:� � �-.. �- ��� ��,.^,, , � � � A
����� ^�. A ..ry ,� ` A
�I _, ! ' � `+�w. �'� OQ •r..`' 1� •
!/` � •
'��� !� \\ � " '..A '!•�n�°• � �we���as:-�a-.
�-, , C � , �;���
.,�'/ ,. , � \' �.��� .
SaL� � �:� / � �\ `\\' �—..
:� .•,�I, � ;� V/ \ \`\\� � - -
'� :� .�. -- � � - --.-
. , ��.
� . � � , �� , .
.� .. � �"'
� � '�� . ���� ;` �
� � .� .,. \.\\ ';\,
�'' ' � ` \
, �
�, -- .
/.'� ,7 �►.w �w.. \.
� i� � / • � � \ \` ^�;`i� /
� ��
�� J�',�, '� i� \`• �, /� •
ir R••"� l,� � �' v
=.� �r�'i� 'i
� �HC� �
; •� +� ,
� �, �� Q� , ` i � .
,,. , ..
: , �,.• �1.� , Q� a' ',,��'-� _
.. .• � n �❑ n �:�...:.` - .
--� ' {a� �`�
' ` �T� � I �'•�c\\�� \
• : �L11� � .. '� '� ' �. .- -
. ��
� � ' C��QQ�� `�' , �� ��\�,� : :
._ .� . �ri mm�r-�nn�,n ..��� ��1► ' .`�
. � �� :
o �
w
N • .r � s r � ro� •
O .
. p
T
" FI1��r7S� ZOIte
Riv�f�+ont L�tiati+R
I
� � ��7-3��
' � � ,. r ATTACHMENT C 1
, MINNESOTA DEPA ?MENT OF � ECONOMIC DEVELOPMENT
• CertiiIciti s aad Appltcstioa [or Eaterpriss Zoas Credit
N�ot Hu�iaw _ - --- MioaMOt�ID Nun�e r�d�nl ID Numb�e
3N Properties (Sublease to ADDCO Mfq. Co. , ADDCO: 5011471 #41-1283975
Nicholson: 7464585 #41-0937210
Addr�(awob�e and strMt ,: N�and W�phes�pualbK d pwos te aoataet at t�
_ _ - -- - .
_ _ _ - _ _ --- ------MuisNS S..bsw qw.tioos sboue eAr tors. _. , ,
1650 Carroll Avenue -- � ' -� � � " ' "
� , --
: -
Citp Stab � Zip Cod�
- ' - ' - -- __._ �
St. Paul NIl�I 55104
DMesib�eh�ocp�o�ios aetiviq(q tMe at�cPaewon.auinb�r ot jobs er�nbd�iaer�aN•�n
�`a"p°°�d�i°°°tb� a.e�u+�etta peoduat). The partnershi p'�'1OC�"1°�'���"�'aoi°ot
Vice President, and Secre ary-Treasurer of ADDCO Mfg.) willCCOnstruct af24h908rsquaretfoot
production facility with n estimated market value of $600,000. They will lease (over)
E�Zen�CndIla
1. Sa1M ta�p:id oa Puretia�o[eoeueru n mat�aL oe�9u+Pnwat.
t. iat�t paid on d�bt to Saane�eoa� on ot n�w[aeilit�r ..... .. ..... ..................1. �„��
3. a. Numb.e ot worl�.es.wpior.d. .... ....... ..................... � ...t. S 8 0.,,�00 0�
b. Cr�dit ............... 3a.� 7�� ,
i�'woelne(tYom 1�d bde�r) .... .............. b. S 2,8 5 7 � '
c. bluldplp th�nntab�s on lIn�s bp e� t os lia�b ........ •
Berd�r GR!►Zen�Onhr ................•.......3e.�20_��
4. s. Numb�d w�oel��rr��..... .... ........... �,
b. Cr�dit P�e�o�lur(fleom liss T Ddo�r) .....•...� ............ �—�'
... s,�_
c. Multlpy th�nwab�r on liu��bp t!u t oa 1Li�b .......... ,4e.
Tot�l Cnd[tt ..................... ���� -
S. Total�nt�tpriN wa�er�dIq(add liaM 2�?e and 4e)...................................S. $100,000
Eat�epeis�Zon�Citp Naeo�aod
W�pbon�aueab�e ot p�e�on W eoaeaet it w hsw qw�tiom about tlw foent
St. Pau1, Minnesota John A. Campobasso; Port Authority of the City of
Saint Paul -- 612 224-5686
IwN d�aeiption ot prop�etr foe w esdit u elaiawd,
See Attached.
e. Pfn Ia ca.«.ait.mount�o b..uo.�.a ..eh«nplof................ . s. 2 57
T. Heed�r eiLr�oe�a �r.?W!a th� a�eouat to be Nio�rd toe�aeh�aplopN ............. T.
i. Clf�elt th�aqPe'�eiae�bma [ j n�w i h► ( ��sp�rioa ot�oo��faeilitp �•—•--
Also tW in t!�ama�n!d er�dit W b� toe peoqel�tas Py�b��ia 1� '; _�_
9. Hord�e eiln�en�enhr�{p��t �) .•.•.••••••. • •
�W is th��eeouat d e�djt b b� fae pe�op�et�t���bb is 1� ... .. ....... . . . �. �_
Loeai eon�eibutiaa(eealais 6ow ' ) � Zon�D�dt�etiaar
An alternative local con ribution plan com- g�„�g� . ,. S6��3.`
prised of building demol tion, site �re�ara-
tion & infrastructure im rovements within O�ia�ee Coa�anp,,, , , �n�=
Empire Bldr. Ind. Park w s approved by the �s Bat.na...... 50_5.366 �
Commissioner of Ener & Econ. Dev. October 14 19 5 �
I h�nb�r d�elae�and e�etityr ehat �Pplkaeioa u eew aad eoenet t�tlu brt a[nq kaowbdp aad bdid
Si�natus�d Aoplins� D�
Cih►Cl�sk os Administsacoe Dse� Caamiwim�r d l.o�ep aed Eeeeomie D�►roPa�n� D�
Geti!leafion e6at sppliaat u locat�d in th�
FrtNepe�M ZoM aed erdiq�sv�il�bb.
El�et�d Cit�O�eial D� .
- Coe�wenK d ltw�w Dw f
_ APY�d tae a�etilleaqN r�t Proprer
�-����2 �
, , .
. . .
. _ . .
. .
. . _ . . .
. _ . _ . _. , -
_. - -_
. __� Y'� �is� to tv. �ne.rpci,,, zo�, creast, Yoy m�t �a�i.t� Part 1 0! t.�i; -
f°� � �� t �tv� oi t� �tterpri� city �111 3n Psrt 2 to s�orr : -
_t� ai+ount o! t t6� c i t y r i l l a l l a r T� r a p r v� a o d an �l�ctsd -
c�ticial mu�t aLc � _
o� l.b� �orm. �� t'� th� iatomratian is rr�ct hy s,icping at tb� battom
i .
___ __.
_ _ ___ _
_ _ �t�r tl� iato�a 1� _ _ . , _. _ _
be�o c�stitied by t�e c3 , it must b� s�nt to tb� _ .
�t � aad e0000�ic aad t� D�p�rt�nt of R�v�eou� for
�o�a1• l�ai1 tomi to:
�eota
Boonamic �vis�ian� aod B°°n°�°ic D�v�l°�ent
900 1�ecican '
150 E�t &�11 Houl� _
St. Petii, K+I SSlpl , _ - '
i
1�t�s t.� to� bean a�prav�d bY tbe o! 8t�rc� aod Boonomic -
. it b� fos�+atded to th� DaQar�rnt o� R�vresie !or approqal. T�
°� � ��Y � P�t�rpris� Zce� �YtY o! a�o�val�
c1aSm tb�s�credi �atians in tbs entetprise ao�r witbin t�o years after you "
• Y'� rill bav� bo rapay all or p�rt ot tbw ct�dits.
- � f�s�ba�lar filed rith yous oouotY Auditor it local p�+ap�ty tas redt�ctiana
tb� city ba� Y'ou a credit for� � P��Y � credits as� reqwatad. if
bord�r city zaaea . Y'ou mu�t �il� thisp=�Y � �sy�1� aa lin� 6 (or lin� 7 for
rsc�i.Qa cz�dit an �PPraved fo� with y�our co�ty aiudibor to
Yau prop�sty tas stat�ent.
Ccot�ct (61Z) 297 1304 for additional isifoaast�aa. .
** the facility to ADDCO Mfg. Inc. and Nicholson Company, Znc. ADDCO Manufacturing
Company, Inc manufacture� trailer-mounted, programmable messaqe signs used
primarily fo road construction and hand and electrical controls for industrial
machines. N cholson Com�p�ny, Inc. customizes diesel and qasoline enqines for
the industri 1 trade. The company will create 7 new jobs with a $94,000
increase in heir annual payroll.
• • ' �iL•iVri�'�sl• �V�li'i�t�I1 � r,+►��VV� Yli•V��
�� . . . 3092 No. L�rin�ton Aye.,�Roswill�e, NI�: 55113 • •-•
,. ` LAND SURVEYING �_�c�,2
�.�oa � � ,
� � i Mereb�r Certit�r ti�at thia plat shows a wrwy �n�dt bY �rtie.�.the prope+�lr
����
• l��tflbl� Ofl L�11i D�u� afld thit�1! GW'fIK! � GO�I'K'L�y � u sF101MRi
that this survey,� plan or report was prepared by oe,��or ui�sr-
� �k.lcsek S�, "�y direct wpervision; and that :I a� a duly registered Lar�d1
Job Numb�r: r under the �awa ot th� Stat� ot Minnuota. i :
. : ,
; �
t�or;� - . : __ : .,
:
. surwy.d fo� Po��- y _ -
- - � ��r� _ -�
. .
. , ;
�
��i/ay � � . w '
--- O�t� . .. _ ' . ' � -----
/''=ioo� . � . nEO�n�uo u►wo w+wsro+� ; .
$�/� Mn. Re9iatration No. 10459 .
�E-�as+� ,�oa.»l v K� Sou•flc w/ /H :� T✓ack)
Q 23 GUE Rl N�S p�'1.,�'S s+-o•��t'zs, �S
S 89°46`oZ'E �'^ !�� R=2261?.BL 1� :
w L°or. Ss.c. 3/-t9- •/L if.8s
' S89° `/�"G / �o.sL
7 .�/ ! � l+2.Kas �Na (v�•kl,s rc e r .
. — — - - -� � �1; — — ;
. . , .
. . — � � t 5 �� ` . � �; .
, — — —-i � �N �,— — — .- ; . . .
8 � `�. tl► . :
, � � a — — — — �,�5 �; I s. ;
t�� � � ,�a� .t - � --,,,
: - � "+_� f(- � I . '� .� _ ;
..._ . . . . o � ""� — `� -rf; � :
�� -W0.I�0 , . ( . � � . . I — �..._� _. .-�----
. S . � � �
� `k��� - - -�- - - y� _3 .-.- _
: �G �� I .: � I • .
. . _. . .. . . : . ��,�G 1 - — — Y-- — ' . . :G. .. I_Z ..t...�_..
(z` � • . — -
*- � f
c�fP,e� � _�, �3 _� � '
�P.�:F,� �` ... N 89�y4''fs"I✓ - — '
� — � �
DESCRIPTION:; (Contains 10 ,027 sq.ft.,mol.��wsT6� �DdrTroN ?$s�� � � , . ;
', All .that part of the following described p�er�t p�� '� ��� � -� �
� A 100 foot Railway R ght-of-way across Hlocks 22 through 25, Brewsters Addition, ;
• Lots 7� through 13, B ock 4 and Lots 1 through 6, Block• 9, Fletcher,'s Subdivision
of Brewster's Addition; . . _
_ : _ Lots 23, .24, and 25, and the vacated alley, Guerin's Outlots; • : , �-.--- . . .- . .. - . ' . -
� , . .
' : �1nd .thpse parts of' v cated �linnehaha STreet and 8rewst�er Avenue; � � � � , : � • ' . � .
. , ..
Which� lies within th following described lines: Commencing at the Northwest corner. of Sectior
;1, Towhsbip 29 North, R ge 22 West; thence S 89°50'17" E (assumed bearing) alonq the Morth line o
sai$ Section 31 �a distan of 788.41 feet to the point oP 6eginning of said parcel;� thence �
•N 0-08�51"••W--20.52 feet• to a point• of intersection with a� line drawn perallel-' to and distant� 50� fe
Southerly, as measured a right angles to, the centerline of Burlingtgn• Northern Railroad Company's
East bound P.reight track�as now located and oonstructed; thence S 89 46'02" E '190,12 feet para11e1
to and SQ feet Southerly of said centerline; thence along a curv& to the left paral�el to said
centerline 94.85 feet, r dius of 22617.82 Peet, delta ang�e of 0 14'25"; thence S 0 08'S1" E along'
a line not tangent� to sa d curve 361.52 Peet; thence N 89 .49'49" W 285.0 feet; thence N 0°08'S1" W
341.12 feet to the point of beginning. Sub�ect to easements .of record. �
Ramsey County, Minnesbta ' :
.
. � .
. . � , . � .
�
�7 ���
_ _.__ _ , _ ._ �i
. .___'.. . -� ,_ ,- .ea`rF �:`' y :. : . . - :..� � .-�.;� , . � .�:-- .. ��..�+At .,.::�..
J HC
J �T01'iCL F>-Y3$I,IC H��CIN(�:�, 1� . ' AT[dN =' . �
� FO� IF�'tCCATiON�QF #�B TA�F'` , , .
PURPOSES N ER�'BE ENTER� � ZO E'�SO(��' `
_:f� __<`-
Pu uant to Minne I ot�i Statutes 1984,Section 27�3.131 Subdivisicfa 24b)at�rd to
provisi n of the Prog For City"of Saint Paul Riv �oat�Ente�prise�e�it�e�
NOTIC IS HEREBY EN THAT A PUBLIC�i �a�i�i`be ttel8'3t�'o�e�-
the Go ci�of the Ci. -o 'Sain�Paul in the G�nci16 rs,t�srd ffioor�4�ty,.-
Hall, 1' West Kellogg Boplevard, Saint Paul, Minn on Tl�ursda�y,�e__l_�7,��
da f arch,�l$8T,at 0:0 a.m.,or as soon therq�#ter as matter�ay be b�ri,.
upon e Properties/��0, ufac'�uring,. N�c�olSon
Comp y, 1� & J En erpjrises, and Synetic§ rnfo$tia on 5�stems, Inc., 185b,
Carrol pivenue, Sai t �aul, Minnesota for reclassi icaiton of certain•x�AI�' �
prop� y�ated'in"t e int Paul�tiverfront�tt�r�i�i :2orn,Raf�se3+�o�xity>
Mi ` &, as emplo t property atsd for �ss t-of said-�pertq as
provid d for class 4 opertq in M4nnesati� Statu 1S�&4, S�iots> Z78.13.'�
Subdi ion 9,Paragr ph 4)for taxes ltvied�n i�7 and ar:four,sueeeed#,t���s
, there r. , i�'.< , ,�. �<<...��i4i,�a.`tY:-:'�
; A �AID PUB EARxN�;�k'ie,�ity�quncil 'll consider whethe�;;t¢�.�>�>
app t�e said Ap li tion upon findings aS require hy Minnesota 3tat�tes
� 1984, inn 273.131 S bdivision 2(d). Af said hea ng, the Applft�t, the
, Ram County Ass or representatives o#�a�tected.t 'ng authorities atad any, . ;
' taxpa r.o�the m ' i lity ox representativ,e,ot any mmunity or�ar}izat� ;
will,, ve; po�'tunit ,be heard'or znay prj�ti�the r�iEw� in vvt7�irf�"�`�,9,F . I
w
before ear�ng -., . , r.,;, : . ,
, �tns;af the A� ion,the re�pr_t pf tlte'�sint P �i�`verfzont U�Eice�pd '
the d Partici t� a E�i�reem�nt betw�tihe A� lioia�it a�id th�Cft'y may, ;
; ins ed at the o i s of the Citp elerk o�'the Po Authority,o�.th�C,ity of '
!.A�iint P�nit during . . 1 business hottrs, '�lnd w t'ten' comments rnay.De
delive d or mailed,c/ City Clerk, Room 389, CY` Hall, 15 West I�el�e�g
;��oul d,Sai�t , 5S�#12,ae e�o Port/lluthorit of the City of`�si�Pairi.
1l00•" i$t.�owe ,' St. F�ter Street� �int- , �ErI 55102:'�ha�e
inq mag be ma�e John�Campobasso,��S�QB. .
gER�$.tl��City C31erk� w .
(I+'tbtitary 1�.1�1) r..