87-1787 WHITE - CI V CLERK
PINK - FI ANC�E GITY OF SAINT PAUL Council ///yyy !�
CANARV - DE ARTMENT y�� {�y�
BLUE - MA OR File NO. � � �J -
City At y/JTH . .
�n �l Resolution
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Presented y
R ferred To� Committee: Date
0 t of Committee By Date
PRELIMINARY RESOLUTION;
1988 GENERAL OBLIGATION BOND ISSUES
I�ESOLVED, That for the pur�ose of funding the Capital Improve-
ent Budget for 1988, of funding certain street improvements in
connection with the storm water and sanitary sewer separation
program and of funding redevelopment project activities , the
Council of the City of Saint Paul and in accordance with appro-
priate statutory and charter provision, does hereby give prelim-
inary approval for the issuance of General Obligation Bonds in
1988 as follows :
a) Capital Improvement Bonds in the estimated apgregate
principal of Eleven T�Iillion Two �iundred Fifty
Thousand ($11 , 250,000) Dollars ;
b) Street Pav�ng Special Assessment Revenue Bonds in
the estimated aggregate �rincipal of Two Million
Seven Hundred Thousand (�2 , 700,000) Dollars ; and
c) Urban Renewal Bonds in the estimated ag,regate
principal amount of Five Hundred Thousand ($500 ,000)
Dollars .
P�SOLVE]D FURTHER that the Director, Department of Finance and
Management Services is hereby authorized and directed to initiate
all necessary actions looking toward the sale of the aforementioned
bonds and to report to the Council his recommendations for the
offering and sale thereof no later than January 20 , 1988 .
C UNCILMEN • Requested by Department of:
Yeas Nays
iCOSia � Finance and Management Services
[n Favor
cheibel �` _ Against BY � �
nnen
�ida
ilson DEC 2 ' �$7
Form Approve y City At rn
Adopted by Council: Date
�2-7- 87
Certifie Pa; ouncil Secr BY
By
A►pprove avor: Date C �`� Approv b Mayor for Sub si to�Council
By BY
p1�US1�EU JAN - 21988_
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. . . " � .. , .. . � : DAl!MM7lD� -.� GR C01ltQflO:.,,. �+.�� ' . - C _�.
Fins�ttr� /M�mt. Sarvtc�-Tr sury Div 12/9/8? V�'}��,���� NO:Q,.���V1 ,
or�Nrr�nrr aa�c►oA �w;rnn ron ns�rNm
Ga�'y F 8t�em . r�wR � "a+a�c'ww"o�rerr s�v�s°"ec'°" �`�'�'`x�r+" '
�� ROUi1NQ x�c�T a�c►or+-
Fia,Btiic / t. Serv . ` . : � GoLncil Rp��±rch -
� 292�-7fli6: w+�� criv�rronr�r
p Management . erv�;c�s a�xtlwri��ti�� to_ fa�t3ate all
ives t e De artment of Finance. and`J� � _
ecessa y actioa,a.l�a.�ing.to �h�i�siiance �f�th . followi�g debt, in February 19$�;
;_� _ $11,250,006 GO Ca ital. Improv�e�r Bon@s <
: 2,700,DUO GO St eet Improv�e� �p�cia�::Assee�s��n�:�Bonds_,;':
500,000 GO Ur an Renewal Boads
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e fxPO�'ow!�)«�(�) � ,
�... COYtABRqN . � CML�ERVICE COMMIIS�ON DATE IN � -DATE OIiT � - 11NALY$T .- . .. . PF101E NO:�� - . .
. a0NM8 . IBD l2b.SCFIOOL BOARD � . . . . . . . . . . � .
. . �B�AFF � . . q1�R7ER CCIMAAIS810N � OO�IPI:E7E.A8�S . ADDi MIFO.AOOED'f �`1�0�l1 I Dt MIPO�� _„�ADDEO* � �
� —� Bond Council : .oah.�w►�ia+: � _
suaeon,s oa�+ca oa���� omm t t ee _
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The bo s will be issued for the purpose of fux�ding the Capital' Improvemeat �udget of 1988,
certai street improvements in conneetion wi.th�the sts��sm water and sanitary sewer separation
- `pr•ogr , :aad redeveiopment pro3ec� activities. l =
Tf�IS SOLUTION IS ��GHEDULED TO BE H�A,RD. BX CU�,TNCII. ON i�EG�ER;� 1�87 ' _�
- ��+rwn:,�+u�a�.,na�.l: . _ : _ .: �.
There s no coet/beaefit at th�s time a$ this �s a .�reliminary r-esolution. The resolu�ioi[ .
recomm ndiag the sale will be presented to the��ull Council on Januarq 20, 19�8. :
�- tMNrb IkMn.annTo VM�k _ , _ . ; . ."_. , ., . _
B�ond s le procedurES. are dictated by City Cha er and 3tate Statutes. �_Thie prel�,�niaary
�esol ioa must be .pas�ed to fulfill these re irements and meet a1Z deadliaias leading
to th award date of February 24, 1988.
. . , . , .
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Tiie C ty anaually iss�es general ob}:igation bc�nds to fund City pro3ects that have previously
� b� p�roved by i�ts :Mayor and City Council. �
, _ ,+, : ,
i
�:�+u . .
These have been addreBSed by Bond Counsel�.and City Attorney.
__ __.__. __ _ _- -- __ _ - - _ --- -- --- - _ - - --_ _.._. __ ._ ------ ---_----- _�_ __ r- --- __
wN1��E + — Ci v'CLERK � � . � � � �" �_� �.
.P1NK _ F, ,►N�E GITY OF SAINT PAUL Connci! � � �
[aNAHY —O� PARTMENT � � F1aQ NO.
�9LUE �M� YOR � � ' �
c�.�y A� y/J� . .
Council Resalution � ��- �7��
Presented �
Y ,1
R ferred T � e
Gommittee: Date
� �
0 t of Committee By Date
PIrEL7.NlINARY RESOLUTION;
1988 GENERAL OBLIGATION BOND ISSUES
RESOLVED, That for the purpose of func�ing the Cagital �mprave-
ent Budget for 1988, of funding certain street improvements in
onnection with the storm water and sanitary sewer separation
rogram and of funding redevelopment project activities, the
ouncil of the City of Saint Paul and in accordance with appro-
riate statutory and charter provi.sion, does hereby give preli.na-
nary approval for the issuance of General Obli�ation Bonds in
988 as follows : -
a) Capital Improvement Bonds in the estimated aggregate
principal of Eleven Million Two Hundred Fifty
Thousand ($11,250,000) Dollars;
b) Street Paving Special Assessment Revenue Bonds in
the estimated aggregate rincipal of Two P�tillion
Seven Hundred Thousand ($2,700,000) Doll.ars; and
c) Urban Renewal Bonds in the estimated aguregate
principal amount of Five Hundred Thousand ($500,000)
Dollars .
RESOLVED FiTRTHER that the Director, Department of Finance and
anagement Services is "hereby authorized and directed to initiate
all necessary actions looking toward the sale of the aforementioned
bonds and to report to the Council his reco�endations for the
offering and sale thereof no later than January 20, 1988.
CO N G LM EN • Reyuested by Depaament c�:
Yeas Nays
Finance and Mana ement Sexvices
In Favor
Against BY '� �►��':"` .
Fa�n Approve Citg At,,��rr��
�dopted b Council: Date �
l:ertified assed by Council Secretary �Y f 2_� ��
�ty _
Apnr�ved Mavor: Date Appt Mayor fot $u ;i to ouaeit
�y - $y
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ID#: 8 [549 ] DATE REC: [12/10/87] AGENDA DATE: [00/UO/0�] ITEM #: L �
SUBJEC : [AUTHORIZATION TO INITIATE BOND SALES FOR 1988 EXPENDITURES ]
��I
C.R. S AFF: [N/A ] SIG:[SCHEIBEL ] OUT-[X] CLERK-E86f667�0�]'��
ORIGIN TOR:[FINANCE ] CONTACT:[NORDSTREM - 7016 ]
ACTION [ ]
C ]
C.F.# ] ORD.# [ ] G.S. RETURNED [00/00/00] FILE CLOSED [ ]
� � � � � � � � � � � �
FILE I F0: [RESOLUTION ]
C ]
[GREEN SHEET #361 ]
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u f:� � :, �sg��
CUuNC�LMAi�I
:IAMES SGHEIBE►
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