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85-23 WMITE -.CiTV CLERK PJNK -LFINANCE GITY OF SAINT PALTL Council �._a�s CANAf?�- DEPARTMENT �BLUE - MAYOR File NO. � �'o ncil Resolution Presented By Referred To Committee: Date Out of Committee By Date BE IT RESOLVED, by the Council of the City of Saint Paul, that pursuant to the provisions of Laws of Minnesota 1971, Ct�a�ter 773, as amended by Laws of Minnesota 1974, Chapter '3f1, Laws of Minnesota 1976, Chapter 234, Laws of Minnesota 1978, Chapter 788, Laws of Minnesota 1981 , Chaper 369 and Laws of Minnesota 1983, Chapter 302, said Laws being collectively referred to herein as the "CIB Laws" and pursuant to applicable Ordinances and provisions of the City' s Legislative Code, there is hereby autYLOrized and there shall be issued and sold general obligation bonds of said City in the aggregate principal amount of Seven Million One Hundred Twenty-five Thousand Dollars ($7,125,000.00) for the purpose of procurement by said City of funds in said amount to be used by the City exclusively for the acquisition, construction and repair of capital improvements of the City of Saint Paul authorized in the Capital Improvement Budget of said City for the year 1985, provided that the proceeds of such bonds shall be expended only upon projects which have been reviewed and have received a priority rating from the capital improvements coa�unittee designated pursuant to Laws of 1978, Chapter 788, Section 2, as amended; and, be it FURTHER RESOLVED, that the bonds authorized above shall be designated "General Obligation Capital Improvement Bonds, Series 1985." Said bonds shall be issued in accordance with the aforesaid Laws and in accordance with the further provisions of the City Charter and Chapter 475, Minnesota Statutes, all as more fully provided in said Charter and said Laws; and, be it COUIVCILMEIV Requested by Department of: Yeas Nays F��r Drew In Favor Masanz NiCOSia scnelbe� __ Against BY Tedesco Wilson Sonnen Form Approv City Atto ey Adopted by Council: Date Certified Passed by Council Secretary BY � gy, �pproved by �Vlavor: Date Approved Mayoc for Submission to Council By gY WHITE - CITV CLERK PINK ' �INANCE G I TY O F SA I NT PA U L Council CANARV�- DEPARTMENT File NO. �� �� gL.UE - MAVOR � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date FURTHER RESOLVED, that sealed proposals be received in accordance with the Official Terms of Offering a copy of which has been presented to the Council and is attached hereto. A copy of said Official terms of Offering is hereby directed to be placed on file in the office of the City Clerk. The terms and conditions of said bonds and of the sale thereof as set forth in said Official Terms of Offering are hereby approved and confirmed and are hereby adopted. The Official Terms of Offering shall be published in the manner prescribed by law in the St. Paul Legal Ledger, the official City newspaper and in Commercial West; and, be it FURTHER RESOLVED, that in accordance with the CIB Laws the City may issue up to the $8,000,000 of bonds without reference to the other limits contained in the CIB Laws and it is therefore authorized to issue the $7,125,000 of bonds herein proposed to be issued. COUfVCILMEN Requested by Department of: Yeas Nays '����� FINANCE AND MANAGEMENT SERVICES °'ew In Favor Masanz Nicosia Scheibel � _ Against BY Tedesco Wilson Sonnen JAN 3 — ��p5 Form Appro City At rney Adopted by Council: Date Certified P•ss un .il S ret ry BY � B � . JAfv 8 - 1Q�� App y Mayor for Submi ' n t Council /�ppr by ;Vlavor: Date By PUBLISHED �AN 12 i985 � ��-a.� APPENDIX II OFFICIAL TERMS OF OFFERING $7,I 25,000 CITY OF SAINT PAUL, MINNESOTA GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS, SERIES 1985 Sealed bids for the Bonds will be opened by Peter Hames, Director of Finance and Management Services on Tuesday, January 29, 1985, at I I:00 A.�VI., Saint Paul time, at the offices of SPRINGSTED Incorporated, Financial Advisor to the City, 800 Osborn Building, Saint Paul, Minnesota 551U2, 612/222-4241. Consideration of the bids for award of the Bonds will be by the City Council the same day at 12:00 Noon, Saint Paul time. DETAILS OF THE BONDS The Bonds will be dated March I, 1985 and will bear interest payable on March I and September I of each year, commencing September I, 1985. The Bonds will be issued in integral multiples of $5,000, and will be fully registered as to principal and interest. The Bonds will mature March I in the amounts and years as follows: $SI0,000 1986 $620,000 1989 $770,000 1992 $905,000 1994 $540,000 1987 $665,U00 1990 $835,000 1993 $985,000 1995 $580,000 1988 $715,000 1991 and will not be subject to payment in advance of their respective stated maturity dates. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed the last business day prior to the interest payment date to the registered holder thereof at his address as it appears on the books of the Registrar as of the close of business on the I Sth day prior to the interest payment date or, in the event such day is not a business day, on the last business day preceding the interest payment date. The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. The proceeds will be used to construct various capital improvements. TYPE OF BID A sealed bid for not less than $7,053,500 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $50,000, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continved to another date without award of the Bonds having been made. No rate for any maturity shal I be more than I% lower than any prior rate. No rate nor the net effective rate for the entire Issue of the Bonds shall exceed the maximum rate permitted by law. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. - - - � � �,� �.��3 AWARD The Bonds wil) be awarded to the Bidder offering the lowest dollar interest cost to be deterrnined by the deduction of the premium, if any, from, or the addition of any amount less than par, t��, the total dollar interest on the Bonds from their date to their f inal scheduled maturity. Th� City's computation of the total net dollar interest cost of each bid, in accordance N�t-� customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the ter�ns herein. . REGISTRAR The Registrar shall be First Trust Company of Saint Paul, Saint Paul, Minnesota. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the'assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cast to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery wil) be subject to receipt by the Purchaser of an approving legal opinion of Briggs and Morgan, Professional Association of Saint Paul and Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than I:00 P.M., Saint Paul time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Off icial Statement did not as of the date of the Off icial Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated 3 Janaury 1985 BY ORDER OF THE CITY COUNCIL /s/ Peter Hames Director, Department of Finance and Management Services �� r_1�,._:..-:�:i Y':t� -_. ._ .......� vJ.r .�.LCt�. t.l-1."X C�VUl�L:�l� .. ^_y; l�' ��- '';� �,�t� ��;:,'� ���'- . � f;' � J D O t e ; December 27, 1984 •;w:��.�:� /;�/ . . .:��.`= _ . . � �'S�� caMi� [i'� � E � E Po � � �" 0 = �aj�i P�}.� I Ci�y Co�.� n �.it . . . . - F�► � �J� = CDI'�2�73d1!�� Oi? FINANCE � � ' ClrIAlC-� JAMES SCHEIBEL • � . REGULAR AGE\TDA . . L�r� .. 1. Resolution amending the Civil Service IZules concerning 2eaves o£ absence. (Nicosza)�U.ey( J'�! Z. Resolution requesting tlie hiayor to i�iclude �eave oP abserice lai�guage iTi corztxact negotiatioiis occurring after the passage of• tliis resolution. (Nicosia)���� (�y�Z ��� 3.' Resolution aniericliiig tl�e .1984 budget by adding $IU7,574 to the I�inaTicirig aiid 5 enditig Plan £or L•xecutive AdmiiiistratiQn Department. �- Personnel Office (Persoiiriel)�n�U�rc r `� 4. Resolution awending Section II of the Salary Plan and Rates of Compensation Res ].ution by establi�sliiiig tlie-rate of pay for Bui.lcling biaiuite�iarice Engineer. (Pezso�iiiel)������ �: - Resolution ainending t}ie Civil Service.Rules by inserting the title I:anciscape Teclinic}'att ____ . ici Section �3:L, Grade 30 aiid iuserting the specifications in Section 3Z. (Persvnnel)�'�rj� �-C I �. Resolution ametiding Sectio�i-5.D o£ the Civil Service Rules pextairiing to Residei�ce and allowing 5 points on ortly oite certified appointmeirt for each applica�it. (Persoruiel)L�L (`�l� i. Resolutxori aanetiditi tlie Civil Servi + . 1 ����� � ce Rules by znserting the titie Building l�faintenacice Engitieer iii Sectioit 3.C, Uiigraded and insert�.ng the specificatioiis in Section 32�[����e f� �. Resolution amending tlie Civic Ce}iter Capital Improveme t Budget increasing the Finaiicing arid Spetidirig by $G9U,993. (Executive AcLniliistxatioii),�P171L�� - . Resolution amending t�ie Civic Center Operating Fund• increas�i�}ig the rinaa�cing aitd � Speriding by $G6U,UUU. (E.cecutive Aclmiiiistration)��!'�Iy�( _U. Resolutiori amertdiiig Ufficials• Surety Bozid No.. 96854. (ri.nance)��JJ7'il�� ��I• Resolutioiz for sale of Gei eral Ob 'gativn Boiids and Tax Anticipatioii Certificates of ��\ Indebtedness. (I�inance)� J/� � PP'� _?. Itesoluti.oi► allowing City Sigi�atures o1i a contract to provide ful�din to St. aul Urbart I�tdian Itealth Board Inc., 301 ruller Avenue. (Conunuiiity Sexvices)���^�� _ ,�_ i3. Resolution allotring City Signatures on a contract fip provide uiidirig to North End Iiealth Center, IOZ1 t�larion Street. (Commuility Services) �jp�!/� -- -- � ��� �.T�'Y.;zLL •• SEVENTFI FLOOR SAINT PAUL,DiItiti`ESOTA 55302 _ �`r-�� __...__ _._,__. . _ .__....�.___.__,_. . . . . ..__.--- - _. _- ----. ..._._�_._.._. _,------..�-_ ._ ___ _ ...._._ _ . _ _ _._. . _.:______:�_.�.,,._�__._.,�..�„ . . ___, ._.._._. _ _.. .,�.$.�-�.-