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85-289 �MHITE - CI7V CLERK PINK. - FINANCE G I TY O F SA I NT PA U L Council CANARV - DEPARTMENT File NO. ��-� �� BLUE t- MAVOR I 1 , ou il Resolution � Presented By Referred To Committee: Date Out of Committee By Date WI�REAS, Minnesota Statutes, Chapter 475 provides that the governing body of any municipality issuing general obligations shall, prior to the delivery of the obligations, levy by resolution a direct general ad valorem tax upon all taxable property in the municipality, to be spread upon the tax rolls for each year of the term of the obligations, and said law also provides that the tax levies for all years shall be specified , and such that if collected in full they, together with estimated collections of special assessments and other revenues pledged for the payment of said obligations, wi11 produce at least five percent (5.00$) in excess of the amounts needed to meet when due the principal and interest payments on the obligations, and said law further provides that said resolution shall create a separate sinking fund for each issue of obligations, and shall irrevocably appropriate the taxes so levied and any special assessments or other revenues so pledged to that fund or account; and WHEREAS, in anticipation of issuance of the bonds hereinafter described and other general obligation bonds the City Council heretofore levied in 1984 ad valorem taxes on all the taxable property in the City of Saint Paul, in addition to all other taxes; and ad valorem taxes and other available funds of the City in the amount of $248,013 shall be irrevocably appropriated for the payment of the bonds described below as provided herein; and COUNCILMEN Requested by Department of: Yeas �� Nays Drew In Favor Masanz Nicosia scne�bei __ Against BY Tedesco Wilson Sonnen Form Approved by City Attocney Adopted by Council: Date Certified Passed by Council Secretary BY�d�LJ� �� By Approved by 1�lavor: Date _ Approved by Mayor for Submission to Council By _ BY - ' . %�,�"��-�y� ' WHEREAS, an adjustment in the minimum purchase price of the bonds described below was required in order to conform with limitations imposed by law; NOW, THEREFORE, BE IT RESOLVED that for the purpose of providing for the payment of the orincipal and interest upon the $2,300,000 General Obligation Water Pollution Abatement Bonds, Series 1985, issued and sold as authorized by Resolution of this Council, Council File No. 85-138 , when and as the same mature and for an additional direct tax in an amount not less than five percent (5.00$) in excess of the sum required to pay such principal and interest when the same mature as required by said Chapter 475, there is hereby levied on all of the taxable propert in the City of Saint Paul in addition to all other �axes a tax�'or' ent of said bonds the following �,��''�' direct, annual irrevocable taxes, to-wit: Principal and Total Levy Year Interest Levy 5$ Overlevy Levy Amount 1984 $ 236,202.50 $ 11,810.50 $ 248,013* 1985 $ 237,702.50 $ 11,885.50 $ 249,588 1986 $ 233,852.50 $ 11,693 .50 $ 245,546 1987 $ 235,002.50 $ 11,750.50 $ 246,753 1988 $ 235,802.50 $ 11,790.50 $ 247,593 1989 $ 236,252.50 $ 11,813.50 $ 248,066 1990 $ 236,212.50 $ 11,811 .50 $ 248,024 1991 $ 235,662.50 $ 11,783.50 $ 247,446 1992 $ 234,582 .50 $ 11,729.50 $ 246,312 1993 $ 237,952.50 $ 11,898.50 $ 249,851 1994 $ 240,352 .50 $ 12,018.50 $ 252,371 1995 $ 241,847.50 $ 12,092.50 $ 253,940 1996 $ 242,417 .50 $ 12,122.00 $ 254,539 1997 $ 242,105.00 $ 12,106.00 $ 254,211 1998 $ 245,900.00 $ 12,295 .00 $ 258,195 1999 $ 243,300.00 $ 12,165.00 $ 255,465 2000 $ 244,700.00 $ 12,235 .00 $ 256,935 2001 $ 249,825.00 $ 12,492.00 $ 262,317 2002 $ 253,250.00 $ 12,663 .00 $ 265,913 2003 $ 254,975.00 $ 12,749.00 $ 267,724 *heretofore levied as provided for from available City �` -�� f und s �,,,._„r_�__ � ._..._, .. _..__. , ______-- --_..._ _ _ ________. .... __ (� ��\` � FURTHE `RESOLVED that in the event any principal and �interes c me due prior to the receipt of the proceeds of said taxes, it shall be paid promptly, when due, out of the general fund of the said City of Saint Paul, and reimbursement therefor shall be made when said taxes shall have been received; and be it 2 ! � �"J ,�`!�� ,�� , FURTHER RESOLVED that there shall be created a separate sinking fund, or a special account in the sinking fund, for said obligations, and that the taxes received for the payment thereof are hereby irrevocably appropriated to said account, and that the City Clerk be and is hereby instructed to file in the office of the County Auditor of Ramsey County a certified copy of this resolution, together with full information regarding the bonds for which this tax is levied, and the City Clerk is hereby ordered and directed to secure from the County Auditor a certificate that he has entered the obligations in the tax register as required under the provisions of Chapter 475, Minnesota Statutes, and that the tax levy required for the purpose has been made; and be it FURTHER RESOLVED that before the said bonds shall be delivered to the purchaser, the Council of the City of Saint Paul shall obtain fran the County Auditor and deliver to the purchaser a certificate of the County Auditor that the issue has been entered on his register and that a tax has been levied as required by law, in accordance with the provisions of said Chapter 475 ; and be it FURTHER RESOLVED that such taxes shall be collected, and the payment thereof enforced at the same time and with and in like manner as other taxes of the City of Saint Paul, and when collected shall be used solely for paying the interest and principal of said bond s when and as the same mature; and be it FURTHER RESOLVED that in campliance with and for the purpose specified by the pertinent provisions of said Chapter 475, said special sinking fund in the nature of a special account in the regular Sinking Fund of the City of Saint Paul hereby is created; and be it 3 WHITE - C�7Y CLERK PINK - FINANCE GITY OF SAINT PALTL Council �J CAN'ARV - DEPARTMENT File NO. �� [,� BLUE ,�- MAYOR ' • 1 � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date FINALLY RESOLVED that the adjustment in the purchase price of said bonds from $2,254,000 to $2,254,902 to conform with the limitations imposed by Minnesota Statutes, Section 475.56 is hereby ratified, affirmed and approved. 4 COUNCILMEN Requested by Department of: Yeas � Nays � Drew Fin e and Mana ement Ser ice Masanz In Favor �I�lieee{e- scneiber � _ Against BY Tedesco 1�Kilson onnen Adopted by Council: Date FEB 2 6 1985 Form Approved by City Attorney Certified P s e ouncil ta BY �k�1P!l�C,/ By �- t#ppr by Mavor: Dat FEB 2 g �q85 Appr d by Mayor for Submissi o ncil By By PUB11SHf-0 MAR � 19$5 e;--%ti�:�' �; �� . , . . . i,-�`;'�"��:::�, C�ITY O�� S11YN'1� �.E�.tT � �'`� •- i� /e�-- �i't'-�--��' f,.-....�� ,�-'�_'�: ``'.'1 , � (�`�' �,, r. „ r �� I '� C GI1� COL7\CFL ._ OI' 1�I . ,�, ,, }`.%:� ,;��; t':= ;_, _ ,i r,�! ;�� "E , '�.�:` D o f e • � . •� '�� /�. / . February 21, I985 '`'\=�?..��,:- ' . .... co � �nl�i LE f� c PO � �T �' 4 = � � tt�? P� u ! C �;y� Co�� n��E �' P, t� 1r� = C �;t;.r:�i i Q` ci-; FI�'r1\CE, DLa.�;AGE�tE�;T F� PERSO\'t'EL C 6-�/-� ( P. � �,��fES SCr��IBEL Co,�;�--��-o�-t`�e-�tiF,ole - It� I � � -�s a:,d I. Resolution ane:�din; Sec_ion S.D o� t'.:e Civil Se��-z�� Ruies per�ainin; to Residenc� and allowiZ� 5 oi::ts o� onI o e �r �== .; Y � c.._�__�e,. a��oint-e:.t for eac:1 2DDI].C2Ilt. (Personnel)��.�lf�� , ��L� `�J� � ��" .�C�i��dc�i� 2. Resolut;on a,:aendir,� Sec�=on 14 0= . . .e Civil Ser•rice Rules per�ain�n? to � p_ono�ion re�ui�e^�e:;ts.��N�� CG1'�.1 ��/�l�'w� .��"�i�p1L� J'. RBSOIL*�:.OIl SLIi.:02'�Z_il� 2i'1 a��-@@,..@•1� Wli.fl Ramsev + € fu�nish healt7 Sut�eTMri ion servi � , ��``�`�� '�'�e=e�y the C��y wilT_ � c..s to ind�viduals in the;r homes as reques�ed. __._ ._ (Co�-�unity Ser�ices} ��G�G�,.., 4. Discus;ion of cont.."C� CO;,1DI13I1C° S�2.i�1I1� for the �L*„ia;, Rign�s De�a_�:r.@;;t, �� G S. Resoiut�on �-;endi:�g the Z985 oud et and to the S�endinQ p?� ' b" aading S.i6,630 to the Fin�ncir.� Plaz - � an for Special Proiec�s-Data Processi.n�. ' �,, /, NOT Ov PREPARED AGEVDA: ��IZ��iC.L�' Resolution setting a tax levy on the 1985 bonds sold (see beloto) and by copy or the Resolution this Ievy �aill be certified to the County Auditor. � . '��:. �s- }�� Rene:�al SEries 1985, �500,000 : � r Pollution Abatement Series 1985, �2,300,000 3. � G.O. Capita.l Ir,�provement Bonds Series I985, 5�,12�,000 �� .iT�' HAi.L SEVENTFI FLOOl� S/IINT PAUL, �i:ti\.r-..SOT:\ 552C'_ •�,.,: