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85-310 WHIT� - CITV CLERK PINK� _- FINANCE G I TY O F SA I NT �A U L Council CANARV - DEPARTMENT File NO. ��_�/� �LUE - MAVOR � ' Council Resolution � �/� � Presented By __ % �yL / 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, will 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 $88, 725 shall be irrevocably appropriated for the payment of the bonds described below as provided herein; COUNCILMEIV Requested by Department of: Yeas Nays �4�4�T Drew In Favor Masanz Nicosia scne�be� __ Against BY Tedesco Wilson Sonnen Form Approved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY�1��I��'�� By L` t�pproved by IVlavor: Date App o by Mayor for Submi ion o Council By B ° . . . �Ol=�'�-�� - _ . NOW THEREFORE, BE IT RESOLVED that for the purpose of providing for the payment of the principal and interest upon the $500,000 General Obligation Urban Renewal Bonds, Series 1985, issued and sold as authorized by Resolution of this - Council, Council File No. 85-137, when and as the same mature, and for an additional direct tax in an amount not less than five percent (5�) in excess of the sum required to pay such principal and interest when the same become due, there is hereby levied on all of the taxable property in the City of Saint Paul, in addition to all other taxes, the following direct, annual, irrevocable taxes, to-wit: Principal and Total Levy Year Interest Levy 5$ Overlevy Levy Amount 1984 $ 84,500.00 $4225 .00 $ 88,725* 1985 $ 81, 875.00 $4094.00 $ 85,969 1986 $ 79,000 .00 $3950 .00 $ 82,950 1987 $ 75,875.00 $3794.00 $ 79,669 1988 $ 72,500 .00 $3625 .00 $ 76,125 1989 $ 69,000.00 $3450.00 $ 72,450 1990 $ 65,400 .00 $3270.00 $ 68,670 1991 $ 61, 700.00 $3085.00 $ 64, 785 1992 $ 57,900.00 $2895 .00 $ 60,795 1993 $ 54,000.00 $2700.00 $ 56, 700 *heretofore levied or provided for from available City f unds FURTHER RESOLVED that in the event any principal and interest come 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, FURTHER RESOLVED that there is hereby created a separate sinking fund or a special account in the regular Sinking Fund of the City, for said obligations, and the taxes received for the payment thereof are hereby irrevocably appropriated to said account, and 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 bond 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, 2 M�HIT+E - CITV CLERK PINK - FINANCE C I TY O F SA I NT PA U L Council CANARV - OEPARTMENT File NO. �� j� �LUE - MAYOR � � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date 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 bonds when and as the same mature; and be it, FINALLY RESOLVED that in compliance 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. 3 COUNCILMEN Requested by Department of: Yeas �� Nays Drew Fina ce a d Mana emen e i s Masanz � [n Favor � Nfcosia Schetbel __ Against BY Tedesco Wilson Sonnen FEB 2 8 1985 Form Approved by City Attorney Adopted by Council: Date Certified Y-ss d ounci , cr r BY �4 �� ^� i�f�'�'� gy, � 61ppr by Mavor: " FE8 2 8 ��J App by Mayor for Submi 'on o Council By PUBLISHED ��A� 9 1985 "�;;�%.--�..�� `IT 3 � � �' �jG� �'-a, __�,� '�,;;�; � Y" or S�.�v� �.�.v�z, �'� ��-� . f'_�� •7 ;f�`:� l�^', OT�,IC� �1�� . �!x�L��r �iOU��i�r. i.^:i S. ;�_�', ;1 !`.•`� -�i ..:?.'- ' '.: ,�,, ., . ;:::�.� -- f;;� D o t C . February 2 �:-, ` � /°,, I, 1985 ��'°`r�= . • .,,._,_;;:� .... Cof� i�� f�i � E � � Po � �r . �' � = � ��i�? P� `� ! � ��y Co�� nc�i �r; L l,i� = Cfli;.r:;i i°° pi-; , T FI��:�C�, AL�,\';�GE��;T � PERSO\'\EL � CE-�A i P. ��t1ES SC'riEIBEL ��'�� -='°-o�-the-.'•�:oie - I��-s I -; ? � � ?. Resolut;on a.,�e�!eing Sec�ion S.D o� �^e v Civil Se::-ic„ Ruies per��I;,in; to Re�zdenc� and allowiz� 5 �oiz;ts o onI � o�-;- a��Iicant. p � Y o e c.._ _ =e� a�noint-er.t fer g3C.1 __ ( ersonnel)��lf�� j �� C�ll/lC�e�� C7`' �Crs"JyL��t�� 2. Resolution a�end=r.� Sec��on I4 0= -',e Civil Ser�rics Ru zs � � p=onotion re�uire�e:;ts.�� I pe= ain_ng ;.o C�� (��i%�r:/ �%/�lr�� ,��;��/ J• R��O?L:�IOA nL`i.tiOT_'=II� ci? a.�=°°�eIli. �tizi.il �c'1S2`. , � �urnisn health SLTTJ@TM.'i ion se_,rices , -� �O1`''�`-}� wnere�;r ;,;�e C:�;: wi�? � - � " to ind�viduals in their homes as reaues�ed, (Co:�:.,uiity Ser•ricss) D�G�G�. ` 4. Discussion o� coat_ c� cor„ �� _ a liaacs sta��ir.g for r.he �TW,�an R�Q �� 'L� � - �jG �n�s Dep��:;e::t. �. Resolut�on �-;e.^.d-, � � � -�g ��e �� bu�;et by addin� 536,630 to the Fin�ncirg pT�,; and to the Spendin� pl�.n fo� �pe��I proiec�s-Da�a processin�. � �� NOT Ov PREPARED AGE\'DA: �j�IZ�lfC..dl' Resolution settin� a tax le�,ry on the I985 bonds sold (see below) and bv cop�r. or the Resolution this Ievy caill be certified to the County Auditor. � . `��'�""��'�"k�enewal SEries 1985, SS00,000 2. G.O. �ti'ater Pollution Abate^�ent Series 1985, $2,300,000 s". G.O. Capital Ir,�provement Bonds Series 1985, 5�,I25,000 ��'v�� .:..iT�c' H�'•.LL SEVE�ITfI FLOOF� SA1NT P�.UL, �t:\\'�SOT:I SSI02 •��..„