85-458 WH17E - CI7Y CLERK /
PINK - FINANCE COUACII y�
CANARV - OEPARTMENT G I �Y OF SA I NT PAU L File NO. �
BLUE - MAVOR �
City Attny/PBB C uncil Resolution
.
Presente By �
� ,�,/ p�
Referred To ! 'v Committee: Date � —�� a�
Out of Committee By Date
RESOLVED, t at th appropriate City officers are hereby
authorized to e ecute the attached Amendment to the Payment
and Priority Ag eemen dated December 11, 1982, by and among
the City of Sai t Pau , the Housing and Redevelopment Author' ty,
the District He ting evelopment Company, and the First Nati al
Bank of Saint P ul; a d be it
FURTHER RES LVED, that the Council hereby adopt� as its
findings herein th.e r citals contained in said attached Amen ent .
COUNC[LMEIV Requested by Department of:
Yeas #I41C�a���ay� ) �/j� � D
N% /V ���
of8N1 In Favor
Masanz �
NiCOSIa
scheibe� � _ Against BY
�edes.�
Wilaon
Adopted by Council: Date
APR � - 1985 Form Approved by City Attorney
ertified Ya.se ouncil e BY
♦
v
� by ;Navor: Da
�p� 5 � ���� Appro e Mayor for Sub s o Counci
B
Pi��$.i �� - : ±. :3 1��.`',
��` Q
��__�. CITY OF S INT PAUL
;`�y '�� OFFICE OF THE CITY ATTORNEY
�,+ '_������� �� EDWARD P. STARR, CI Y ATTORNEY
... �
�°°f�•� 647 City Hall, Saint Pau,Minnesota 55102
612-298-5121
GEORGE LATIMER
MAYOR
August 26 , 1985 �
�, �
��—�
�a� .
^`�'; -n
Mr. Albert B. �1 on ' ;� '°" m
City Clerk `-� � '�
386 City Hall �� �
Saint Paul, Minn sota 55102 °`'`� ..
c� cxa
rY+ �.r�t �
RE: DHDC Paymen & Pr'ority Agreement
Dear Al :
I have been advi ed, c rrectly, by Karen Swenson that the Coun il
Resolution autho izing execution of the First Amendment to Pa ent
and Priority Agr ement (DHDC) , which was adopted on April 4, 1 85 ,
has the wrong ve sion f the Agreement attached to it as an Ex ibit .
I have examined he va ious documents , and agree that somehow e
did not get the ight opy of the A�reement attached.
The enclosed Min tes o the HRA Board (March 28 , 1985 and Apri 4,
1985) show that he Am ndment was approved and passed by the H
Board at a speci 1 mee ing on April 4, 1985 , held immediately efore
the City Council meeti g with amendments (as marked thereon) . At
the Council meet'ng th reafter, while the Council Minutes refl ct
the fact that am ndmen s were made to the "First Amendment" , t ose
amendments are n t now refleeted in the Agreement attached to he
Council Resoluti n. I assume that I must have failed to prepa e an
extra copy of th Agre ment for substitution.
In any event, th copy attached to the HRA Board Minutes of An il 4,
1985 is the corr ct ve sion, and is the version as adopted by he
City Council . I my o inion, you are authorized to correct th s
error by substit ting he correct version for the other .
Very truly yours ,
��/1/Vt
PHILIP B. YRNE
Assistant City A torne
Encs .
cc : Delores Ard ser
HRA Board ecord ng Secretary
,,. . . � . ' `p � �; �
.
� 18492
Min es of t e Continuation of the S ecial Meetin RECE VED , �
P g
of the
; Housi g and Redevelopment Authority A�� � � i�`?5
� °f tr� CITY ATT
C ty of Saint Paul, Minnesota F�NEY
Date: Apri! 4, 1985 Time: 9:15 A.M. Place: Council Chamber
I. ROLL CALL
The Chairman call d the eeting to order and the following were present:
William L. Wilson
John Drew
- Chris Nicosia
James Scheibel
Hugo Masanz
Absent: . *Kiki Sonnen
Vi�tor �. Tedesco
[I. RESOLUTION A HORI ING AMENDMENT TO THE PAYMENT AND PRIORI Y
AGREEMENT OF ECEM ER 1, 1982 (DISTRICT HEATING)
The Deputy Direct r for D wntown Development said the amendment requested
would allow docu ents to changed and allow district heating to lower their
rates through defe ral of f anchise fees over a few years. *Commissioner Sonne
arrived.
..
: �.. . .,._ __:._ , , „ . .
. . . ., ���'+`��t
L . . _..... . � ,,.. . �
' . : ;_ ;, ; , �-:► Robert Fletcher, former
councilman, asked hat w uld deferral figure be in 1995 and what would deferm nt
be at end of the 3 h year. Attorney Byrne said based on projections the total
deferment would $8.9 illion at end of 1995 and would not increase over that
Commissioner Nic sia said many hours were spent to tighten the language.
The Chairman ask d if any ne wished to speak. Ms. Denise Anderson of the St.
Paul Chamber of ommer requested a delay of two weeks, saying they were
not opposed but ha not ha time to fully evaluate the changes. �Ir. Bill Buth of
BOMA said a com ittee o the association had reviewed the matter and BOMA
supported it 1009�6. Mr. Jo eph M. Quigley, Vice President of Gas Utility of NSP
, said he supported the Cha ber's request for delay and wondered if that could �
be acted upon befo e he m de further comments. Commissioner Drew, said that
although he felt m re posit ve toward District I-ieating since reviewing some sta
tistics he still ques ioned t target rates and made a motion to delay the matte
for two weeks. Co missio ers Scheibel, Wilson and Sonnen spoke in favor of co -
sidering the matte at this ime and Commissioner Drew withdrew his motion.
_ Mr. Quigley distrib ted a f ct sheet he had prepared to the Board members and
� said NSP is oppose to all s bsidies for energy projects, was not against competi ion �
as long as everyon was bo d by the same rules, and felt it had an obligation to
protect its natural as cust mers from unnecessazy costs. He elaborated on eac
r
18493 4/4/85 Y`
.
of these points, said DHDC enjoys a number of advantages because of the grants
and subsidies it is receiving, plus 'tts tax exempt status, and should not be given
another subsidy in a long term waiver of the franchise fee payment which was �
clearly discriminatory. ,
There t�vas further discussion and.Commissioner Wilson moved the public hearing
be closed and the amendment to the resolution voted on.
Vote: Yeas - 6 Nays - 0
Commissioner Sonnen moved to approve the agreement as amended, as set forth
in RESOLUTION NO. 85-4/4-1 (page 18494). The motion carried with a vote five in
favor with Commissioner Drew voting nay.
III. ADJOURNMENT
There being no further business the Chairman declared the meeting adjourned.
. „ � . � - ' . . �,�_ S.. r' t'.,�"` ;'{r
� � � t
18494
�
' SOLUTION N0. 85-4/4-1
RESO iTTION AUTHORIZING EXECUTION
F AN NDMENT TO THE PAYMENT AND
RIORI Y AGREEN�ENT DATED DECEMBER 1 , 1982
WHEREAS , the ousin and Redevelopment Authority adopts as
its findings the ecita s contained in the attached Amendment ;
now therefore, be it
RESOLVED, the offic rs of the Authority' s Board of Commiss ' oners
and its Executive Direc or are hereby authorized to execute th
attached Amendmen to t e Payment and Priority Agreement dated
December 1 , 1982 .
e /Sr
" G-`�_ (�'`jr �.- .
4/4/85 18495
, . .
. FIRST AMENDMENT
TO
YMEN AND PRIORITY AGREEMENT
� Relating to:
THE H USING AND REDEVELOPMENT AUTHORITY
� � • OF HE CI OF SAINT PAUL, MINNESOTA
$30, 500, 000 •
Float ng Rate Monthly Demand
Distr ct He ting .Revenue Bonds, 'Series A
a
Date as of , 1985
THIS INS^:RUMENT DRAFTED BY:
:�HLUM & ASSOCIATES
A Professional Association
S� . Paul, Minnesota
18496 4/4/85 -
' ,
� THIS PAYMENT AND PRIORITY AGREEMENT FZRST AMENDMENT is
made and entered into as of , 1985, by and among THE
HOUSING AND REDEVELOPMENT AUTHORZTY OF THE CITY OF SAINT PAUL,
MINNESOTA, a public body corporate and politic (the "HRA" ) , the
CITY OF SAINT PAUL, MINNESOTA, a municipal corporatiori and ho�e '
rule charter city (the� "City" ) , DISTRICT HEATING DEVELOPMENT
COMPANY, a Minnesota non-profit corporation (tr.e "Corporation" )
and THE FIRST NATIONAL BANK OF SAINT PAUL, a national banking
association (the "Bank" ) . .
RECITALS
WHEREAS:
A. The parties hereto being all of the parties to
� the Payment and Priority Agreement dated as of December 1,
1982, mutually desire to amend the Agreement to more accurately
reflect the original intention of the parties; and
B. The parties hereto contemplated and anticipated
that the definition of "Target Rates", as that term is used in
, Section 1.02 of the Agreement, would include a negative differ-
ential that would permit the Corporation to charge rates an3
charges that would be at a predetermined percentage less than
, actual firm natural gas prices; and �
WHEREAS, the parties �contemplated and agreed that t�ne
projected firm natural gas prices would b� at or below actual
natural gas prices; and
WFiEREAS, subsequent to the execution of the Agreement,
� the actual natural gas prices are lower than the projected firm
natural gas prices; and
WHEREAS, the parties, by adoption of this Amendment,
more accurately reflect and clarify the intention of the par-
ties upon adoption of the Agreement and the parties now wish to
� enter into this Amendment to mutually benefit the parties and
to assure the successful economic vitality of the Corporation.
NOW, THEREFORE, the HRA, the City, the Corporation and
�he Bank, in consideration of the mutual promises and agree-
�aents and the benefits to be enjoye3 by the adoption of this
Agreement, the sufficiency of said consideration is hereby
� acknowledged by all the parties hereto, hereby agree as follows :
� Amend Section 1.02 by striking the defini-
tion of "Target Rates" contained in Section 1 .02
and substitute the following definition of
"Target Rates" .
5473A � ' '
2
18498 � . . 4/4/85 �
Ame d Sec ion 3 .03, by adding a new Section
D. as fo lows :
D. The arties agree that the Corporation
sha 1 not impose the provisions of ��Y*
of he Service Agreement (related to
exp nsion reserve charges ) while there are
out tandi g but unpaid deferred Franchise
Fee or upplemental Bank Fees pursuant to
thi Agre ment . .
Ame d Ar icle III by adding a new Section
3.05 as ollow :
Sec ion 3 05. Refinancing of Series A Bonds .
The orporation hereby agrees that it
sha 1 not re3eem . the Series A Bonds without
' fir t ob aining the prior written consent
the eto o the City and the Bank. The City
and the ank agree that their consent to
ref nanci g shall not be unreasonably with-
hel .
Ame d Se tion 5. 06 of the Agreement by
adding a new S ction C. as follows :
• C. Notwi hstanding the provisions of this
Sec ion, 11 current �and deferred fees shall
be aid t :
. . (a) T e City, within twelve ( 12) months
after the expiration of the Franchise
grant d to the Corporation by Ordinance �
No. 6947, as amended by O:dinance No.
169G2 in accordance with Section XV of
said Ordinance, as amended, (deferred
Franc ise Fees ) .
(b) T e Bank, within twelve ( 12 ) months
after the expiration of the Letter of
.Credi provide3 to the Corporation by
the B nk (Supplemental 3ank Fee ) . . �
5473A
4
,� /'. �.��. e�.-';1 /,�
4/4/85 `-` 18497
Target Rates shall mean, subject to the
terms � and conditions of the Service Agreements,
the rates and charges permitted to be charged by
the Corpora.tion under the Service Agreement equal
to a predeter.mined percentage (which � will vary
over time) of actual firm natural gas prices;
"predetermined percentage" ( for any given year )
shall be that percentage that results from divid-
ing the Corpor.ation' s projected hot water rate
for the Corporation' s next fiscal year (expressed
in $/MMBtu as contained in Gilbert/Commonwealth
December 2, 1982 computer analysis reported to
the Corporation) by such fiscal year ' s projected
. firm natural gas/MMBtu end use rate (as coatained
in Table 9 of the Gilbert/Commonwealth Report to
� the Corporation dated September 30, 1982 ) ; pro-
vided, however, that the resulting percentage
shall never be lower . than 72� ; the "actual firm
natural gas prices" shall mean a weighted average
of the prices actually charged by Northern States
Power Company for its various classes of non-
interruptible City of Saint Paul gas service
customers, to be determined by assigning the
. demand for each DFiDC customer to that customer ' s
comparable Northern States Power Company class of
non-interruptible customers.
. Amend Section 3 .02 A, as fol��,►s :
A. Pursuant to the City ordinance granting
to the Corporation a nonexclusive franchise -
to operate the System (the "Franchise Ordi-
nance" ) , the Corporation is obligated to pay
to the City an annual district heating
franchise fee (the "Franchise Fee" ) in the
amount of eight percent (8$ ) of the Corpora-
tion' s annual gross earnings, after accumu-
lation of the Franchise Fee Requirement .
The Cit�y hereby agrees that ����
�' �; _ .:v _ _ ., � ����f the Corporation
shall not be obligated to pay such Franchise
Fees to the City if and to the extent that a
Negative Differential shall exist , but only
to the extent that amounts otherwise payable
as Franchise Fees to the City shall be
required to make up such Negative Differen-
tial . The amount of such Negative Differen-
tial (the amount of Franchise Fees so
deferred) shall be accrued, an3 repaid to
the City, without interest, as provided in
Section 3.03.
. 5473A
3
r � s' .t' S�,d ' a��.�. �.
4/4/85 � -- ' 18499
f � � .
FURTHER PROV DED hat the Corporation shall indemni y,
defend and hoid he Ci y and HRA (and all officers, agents oz
employees thereo ) ha mless from and against any and 11
claims, actions, judg ents, orders, agreements, obligatio s,
liabilities, loss s, d ages, expenses and costs ('including ut
not limited to a torne s ' fees ) arising out of, based on, or
related to this First Amendment to the Payment and Prior ty
Agreement, and th sai Payment and Priority Agreement, and 11
deferrals, accou ting practices or procedures, payments -�d
actions of any k nd wh tever required by or performed pursu nt
to said Amendmen or aid Agreement as modified by. the Ame d-
ment.
. IN WITN SS WH REOF, the f?R.A, the Ci ty, the Corporat on
and the Bank �hav caus d this Agreement to be executed by th ir
'duly authorized ffice s.
5473A
. 5
185Q0 4/4/85 �
�
THE HOUSING AND REDEVELOPME':T
� AUTHORITY OF THE CITY OF SAIt:T
PAUL, MINNESOTA
BY
Its Chairman
By
Its Secretary .
. By
Zts Executive Director
By.
Its Director, Department of
Finance and tdanage�ent Services
(sE�)
Approved as to form:
Assistant City Attorney
Amendment to Payment and Priority Agreement dated as of �
, 1985 by and among the HRA, the City, the
Corporation and the Bank.
5473A
6
`� <�, ;, �
414/85 ` 18501
/ • '
� DISTRICT HEATING DEVELOPM ':T
COMPANY
By
Its President
By
Its Treasurer
Amendment to P ymen and Priority Agreement dated as of
, 19 5 b an3 among the HRA, the City, the
Corporation an3 he B nk.
5473A
7
18502 4/4/85 .,
. � �.
� THE FIRST NATIOti'AL BANK OF SAIIvT
PAUL
BY
Its Executive Vice President
By
Its Assistant Vice President
Amendment to Payment and Priority Agreement dated as of
, 1985 by and among the HRA, the City, the
Corporation and the Bank.
5473A
8
. 4/4/85 . � . G:f ': `185`03
� .
. CITY OF SAINT PAUL
. By
Its Mayor
By
Its Director, Department f
Planning and Economic Development
By
Its Director, Department f
Finance and Management Services
(SEAL)
Attest:
City Clerk
Approved as to fo m:
Assistant City At orne
�
Amendment to P yment and Priority Agreement dated as of
, 1985 y and among the HRA, the City, the Corporation
and the Bank.
5473A �
9
18504 4/4/85 �
' �, /�{��/'-r�'"+.-,G�--
Chai an �
�
/I ,
�
/ l r iL�
sistant Secretary
Copies sent Commissioners 4/19/85
Approved at meeting of 4/24/85
'� ` � 18489
.
. RECEIVED
� � AUG 2 2 ►�85
� � CITY ATTC��N
� N TICE OF SPECIAL MEETING
OF THE
COMMISSIONE S OF T E HOUSING AND REDEVELOPMENT AUTHORITY
OF THE
CIT OF SAINT PAUL, MINNESOTA
TO: John Drew
Hugo Mas z
Chris Nico ia
James Sch ibel
Kiki Sonne
Victor J. T desco
� William L. Wilson
NOTICE is here y given hat a Special Meeting of the Commissioners of
the Housing and edevel pment Authority of the City of Saint Paul,
Minnesota will held a 9:55 a.m. on March 28, 1985 in the Council Chamber
on the third floo of Cit Hall at 15 West Kellogg Boulevard, for the purpose
of consideration of a res lution authorizing amendment to the Payment and
Priority Agreem nt of cember 1, 1982 (District Heating)
/
��, ��
(� ,,��C;�,.'�.�y �:? ' � n�
�.-,7'"�� ,
airman �
r
March 22, 1985
_ . ' �� -
� 18490
Mi utes of the Special Meeting
� of the
i � Housin and Redevelopment Authority
of the .
Ci y of Saint Paul, Mir►nesota
Date: March 28, 1985 Time: 9:55 A.M. Place: Council Chamber
I. ROLL CALL
The Chairman call d the eeting to order and the following were present:
Kiki Sonnen
Victor J. Tedesco
William L. Wilson
_ John Drew
Chris Nicosia
James Scheibel
Hugo Masanz
II. RESOLUTION AU HORIZ NG AMENDMENT TO THE PAYMENT AND PRIORI Y
AGREEMENT OF ECEM ER 1, 1982 (DISTRICT HEATING)
The Deputy Direc r for owntown Development said the matter was brought t
the Board on Mar 12 an referred to the Energy and Utilities Committee whi
had met yesterda review d the proposal and recommended approval. He said
that essentially it s an a endment to the agreement which allows District Hea ing
to set their rates ' comp ison with natural gas rates. In reply to a question fr m
Commissioner Dre he sai the target rates were projected based on projection
for what natural g s was ing to do, the system was designed to protect the co sumer
from artificially h gh rate and the present agreement does not allow them to 1 wer
their rates. He al point d out that District Heating needed to reach a conclu ion
on what their rate were ing to be so they can finalize their year end audit re rt
and portions of th ir perm ent financing.
Commissioner Dr said i this were voted on at this time he would have to vot
against it because of ques ions he had regarding the expansion meaning loss of
revenue to NSP w ich wo d in turn pass it on to the consumer. The Deputy Di ctor
for powntown De elopme t pointed out that the Council had the ability to set
those rates, that t e pres t District Heating system replaces an out-dated sys m
in the downtown ea, and the matter today will allow District Heating to lowe
its rates to its cus omers. Commissioner Wilson pointed out that the issue of di trict
heating going to ount Ai y would be considered before the Development Com ittee.
He also pointed o t that SP had requested a franchise fee reduction so they c uld
be competitive wi h oil on large gas interruption service and were reduced by3 .
Commissioner Sc ibel s id staff had worked on amendments which were inclu ed �
in the agreement d poin ed out that this was following through on a commitm nt
made to district ating. ommissioner Nicosia said he felt sure the rates hav
to be lowered to s ay com titive but questioned at whose expense this would
because of the de y in fr nchise fees.
The Assistant Cit Attorn y Byrne said the amendment would permit district
. - heating rates not o rise t an unreasonably high rate, penalizing the downtown building
owners, that the anchis fees would be delayed at least several more years, b t �
staff has obtained a com itment that would guarantee that the city receives
18491 3/28
those franchise fees. He said that an amendment prevents any expansion untll
fees are paid and a requirement of a specific date when the accrued franchise
fees are paid.
Robert Fletcher, former City Councilman, spoke against the amendment
and suggested that there were a number of options that haven't been discussed.
He said the document before the Board doesn't set a new shedule of rates
but changes the definition so that as long as NSP's rates keep dropping, theirs
can and their franchise fees can keep dropping. He suggested that there
needed to be more discussion. Commissioner Scheibel said the matter was
on the March 12th agenda, and there were two committee meetings with
an hour spent at each of those meetings.
Commissioner Tedesco, pointing out that a number of people were here
for the Council meeting, moved to recess the meeting to be reconvened
after the Council�meeting.
Vote: Yeas - 7 Nays - 0
NOTE: Because of the length of the City Council meeting it was later announced
that the HRA meeting would continue on Thursday, April 4. •
,
� G�✓
Chairman
L
,;
l i
ssistant Secretary
Copies sent Commissioners 4�/19/85
Approved at meeting of 4/24/85 .
�
; . � . ��-c nir�E� - �f-�S��
��� ���'
._ ,
;
FIRST AMENDMENT �
TO
YMEN AND PRIORITY AGREEMENT �I
�
i
Relating to:
THE H USING AND REDEVELOPMENT AUTHORITY
OF E CI OF SAINT PAUL, MINNESOTA ,
$30, 500,000
loati g Rate Monthly Demand
Distri t Hea ing Revenue Bonds, Series A
Dated as of , 1985
THIS INSTRUMENT DRAFTED BY:
MAHLUM & ASSOCIATES
A Professional Association
St. Paul, Minnesota
„ . �1�itl t��G �f '�/- 5�
' ' — � - ��
�� � �
THIS PA ENT D PRIORITY AGREEMENT FIRST AMENDMENT is
made and entered into s of , 1985, by and among T E
HOUSING AND REDE ELOPM NT AUTHORITY OF THE CZTY OF SAINT PAU ,
MII�TVESOTA, a publ' c bo y corporate and politic (the "HRA" ) , t e
CITY OF SAINT PA , MI NESOTA, a municipal corporation and ho e
rule charter cit (th "City" ) , DISTRICT HEATING DEVELOPME T
COMPANY, a Minne ota n n-profit corporation (the "Corporation” )
and THE FIRST NA IOI�TAL BANK OF SAINT PAUL, a national banki g
association (the 'Bank" ) .
RECITALS ,
WHEREAS•
A. The part es hereto being all of the parties o
the Payment and Prio ity Agreement dated as of December ,
1982, mutually d sire o amend the Agreement to more .accurate y
reflect the origi al in ention of the parties; and
B. The part es hereto contemplated and anticipat d
that the definit 'on of "Target Rates" , as that term is used ' n
Section 1.02 of he Ag eement, would include a negative diffe -
ential that woul per it the Corporation to charge rates a d
charges that wou d be at a predetermined percentage less th n
actual firm natur 1 gas prices; and
WHEREAS, the arties contemplated and agreed that t e
projected firm n tural gas prices would be at or below actu 1
natural gas price ; and
WHEREAS, subs quent to the execution of the Agreemen ,
the actual natur 1 gas prices are lower than the projected fi m
natural gas price ; an
WHEREAS, the arties, by adoption of this Amendmen ,
more accurately eflec and clarify the intention of the pa -
ties upon adopti n of he Agreement and �he parties now wish o
enter into this end ent to mutually benefit the parties a d
to assure the su essf 1 economic vitality of the Corporation.
NOW, TH REFOR , the HRA, the City, the Corporation a d
the Bank, in co sider tion of the mutual promises and agre -
ments and the b efit to be enjoyed by the adoption of th s
Agreement, the uffic' ency of said consideration is here y
acknowledged by 11 th parties hereto, hereby agree as follow :
Am nd Se tion 1.02 by striking the defini-
tion of "Targ t Rates" contained in Section 1.02
and su stitu e the following definition of
"Target Rates' .
5473A
2
f�t C�10 �f'�!�'`�
� � � � � �� ���'
Tar et R tes shall mean, subject to the
terms a d con itions of the Service Agreements,
the rat s and charges permitted to be charged by
the Cor rati n under the Service Agreement equal
to a p edete mined percentage (which will vary
over ti e) o actual firm natural gas prices;
"predete mined percentage" ( for any given year)
shall be that percentage that results from divid-
ing the Corp ration' s projected hot water rate
for the Corpo ation' s next fiscal year (expressed
in $/MM tu a contained in Gilbert/Commonwealth �
December 2, 1 82 computer analysis reported to
the Cor orati n) by such fiscal year' s projected
firm nat ral as/MMBtu end use rate (as contained
in Tabl 9 of the Gilbert/Commonwealth Report to
the Cor orati n dated September 30, 1982) ; pro-
vided, oweve , that the resulting percentage
shall n ver b lower than 72$; the "actual firm
natural as p ices" shall mean a weighted average
of the rices actually charged by Northern States
Power C mpany for its various classes of non-
interrup ible City of Saint Paul gas service
customer , to be determined by assigning the
demand or ea h DHDC customer to that customer' s
comparab e Northern States Power Company class of
non-inte rupti le customers.
Ame d Sec ion 3.02 A, as follows :
A. Pursu nt to the City ordinance granting
to the C rporation a nonexclusive franchise
to opera e the System (the "Franchise Ordi-
nan e" ) , the Corporation is obligated to pay
to the City an annual district heating
fra chise fee (the "Franchise Fee" ) in the
amo nt of eight percent (8$) of the Corpora-
tio ' s a nual gross earnings, after accumu-
lat'on o the Franchise Fee Requirement.
• The City hereby agrees that up to and
inc uding September 30, 1995 the Corporation
sha 1 not be obligated to pay such Franchise
Fee to t e City if and to the extent that a
Neg tive Differential shall ex•ist, but only
to he e tent that amounts otherwise payable
as Franc ise Fees to the City shall be
req ired to make up such Negative Differen-
tia . amount of such I�egative Differen-
tia (t e amount of Franchise Fees so
def rred) shall be accrued, and repaid to
the City without interest, as provided in
Sec ion 3.03.
5473A
3
, ��� c� �-��5,
` ' � �� �= y��'
Ame d Section 3.03, by adding a new Section
D. as fo lows -
D. The arties agree that the Corporation
sha 1 no impose the provisions of Section
21. of the Service Agreement (related to
exp 'nsion reserve charges) while there are
out tandi g but unpaid deferred Franchise
Fee or upplemental Bank Fees pursuant to
thi Agre ment .
Ame d Ar icle III by adding a new Section
3.05 as ollow :
Sec ion 3 05. Refinancing of Series A Bonds. '
The orporation hereby agrees that it '
sha 1 not redeem the Series A Bonds without ',
fir t ob aining the prior written consent I
the eto of the City and the Bank. The City �,
and the Bank agree that their consent to I
ref nanci g shall not be unreasonably with-
hel . il
Azne d Se tion 5.06 of the Agreement by
adding a new S ction C. as follows:
C. Notwi hstanding the provisions of this
Sec ion, 11 current and deferred fees shall
be aid t :
(a) T e City, within twelve (12) months
after the expiration of the Franchise
grant d to the Corporation by Ordinance
No. 6947, as amended by Ordinance No.
16962 in accordance with Section XV of
said Ordinance, as amended, (deferred
Franc ise Fees) .
(b) T e Bank, within twelve (12) months
after the expiration of the Letter of
Credi provided to the Corporation by
the B nk (Supplemental Bank Fee) .
5473A
4
,4��,vo .�_
' . � - �'_� -
���
FURTHER PROV DED hat the Corporation shall indemnif ,
defend and hold he Ci y and HRA (and all officers, agents r
employees thereo ) ha mless from and against any and a 1
claims, actions, judg ents, orders, agreements, obligation ,
liabilities, loss s, d ages, expenses and costs (including b. t
not limited to a torne s ' fees) arising out of, based on, r
related to this First Amendment to the Payment and Priori y
Agreement, and t sai Payment and Priority Agreement, and a 1
deferrals, accou ting practices or procedures, payments a d
actions of any k' nd wh tever required by or performed pursua t
to said Amendmen or s id Agreement as modified by_ the Amen -
ment.
IN WITNE S WH EOF, the HRA, the City, the Corporati n
and the Bank have caus d this Agreement to be executed by their
duly authorized o ficer .
5473A
5
_ � °����;
� �
THE HOUSIL�TG AND REDEVELOPMEN
AUTHORITY OF THE CITY OF SAIN
PAUL, MINNESOTA
By
Its Chairman
By
Its Secretary .
By
Its Executive Director
By
Its Director, Department o
Finance and Management Services
(SEAL)
Approved as to fo m:
Assistant City At orney
Amendment to Pa ment and Priority Agreement dated as of
, 198 by and among the HRA, the City, th
Corporation and t e Ban .
5473A
6 I
. �M�,v n ���1-J'S
� ��
DISTRICT HEATING DEVELOPME T
COMPANY
By
Its President
By
Its Treasurer
Amendment to P yment and Priority Agreement dated as of
, 19 5 b and among the HRA, the City, he
Corporation and he Ba k.
5473A
7
�M�N Ei� �f� �5�
. . ' ��
(!� " '
THE FIRST NATIONAL BANK OF SAI
PAUL
By
Its Executive Vice President
By �
Its Assistant Vice Presi ent
Amendment to P yment and Priority Agreement dated as f
, 19 5 by and among the HRA, the City, t e
Corporation and he Ba k.
5473A
8
/4M �6a �f-c�-��
. � � -� `����
CITY OF SAINT PAUL
By
Its Mayor
By
Its Director, Department f
Planning and Economic Development
By
Its Director, Department f
Finance and Management Services
(SEAL) I
Attest:
City Clerk i
i
i
Approved as to f rm: I
Assistant City A torne '
Amendment to P yment and Priority Agreement dated as f
, 1985 y and among the HRA, the City, the Corporati n
and the Bank.
5473A
9
. . � C� �rs� ��' �
I8492
Minut s of th Continuation of the Speciai Meeting
� of the
Housin and Redevelopment Authority
. of the �
Ci y of Saint Paul, Minnesota
Date: April �, 1985 Time: 9:15 A.M. Place: Counci! Chamber .
I. ROLL CALL
The Chairman call d the eeting to order and the following were present: "
William L. Wilson � �
John Drew
Chris Nicosia
James Scheibel
Hugo Masa�z �
Absent: • *Kiki Sonnen
Victor J. Tedesco
[I. RESOLUTION A HORI ING P�MENDMENT TO THE PaYMENT AND PRIOR Y
AGREEMENT OF ECEM ER 1, 1982 (DISTRICT HEATING)
The Deputy Direc or for owntown Developrnent said the amendment requeste
would allow docu ents to changed and allow districz heating to lower their -
rates through def ral of ranchise fees over a few years. *Commissioner Sonn n
arrived.
Assistant City At orney B rne said amendments had been made which would r quire
that there be no a crual o franchise fees after September 1, 1995, that payme ts
must �gin in 199 and ot er technical amendments. Robert Fletcher, former
councilman, aske what w uld deferral figure be in 1995 and what would defer �nt
be at end of the 3 th year Attorney Byrne said based �n projections th� total -
deferment would $8.9 illion at end of 1995 and wo��Id not increase over th t.
Commissioner Ni sia sai many hours were spent to tighten the language. �
'fhe Chairman as d if an one wished to speak. Ms. Denise Anderson of the St
Paul Chamber of ommer e requested a cblay of two �veeks, saying they were
not opposed but h d not h d time to fully evaluate the changes. VIr. Bill Buth f
BOMA said a com ittee f the association had reviewed the matter and BO:VI
supported it 100 '. Mr. J seph M. Quigley, Vice President of Gas Utility of N
, said he supporte the C mber's request for delay and wondered if that could •
be acted upon bef re he ade further comments. Commissioner Drew, said th t
although he felt ore pos tive toward District Heating since reviewing some s a-
tistics he still qu stioned he target rates and made a motion to delay the mat er
for two weeks. mmiss'oners Scheib�l, Wilson and Sonnen spoke in favor of on-
sidering the matt r at thi time and Commissioner Drew withdrew his motion.
. Mr. Quigley distr �uted a fact sheet he had prepared to the Board members an
said NSP is oppos d to al subsidies for energy projects, was not against comp tition •
as long as everyo e was und by the same rules, and felt it had an obligation o
protect its natur 1 gas cu tomers from unnecessary costs. He elaborated on e ch
28493 - . '� 4/4/85 ��ai
. . *
of these points, said DHDC enjoys a number of advantages because of tF►e grants
and subsidies it is receiving, plus its tax exempt status, and should not be given
another subsidy in a long term waiver of the franchise fee payment which was
�learly discriminatory. ;
�
. �.
ThPre was further discussion and Commissioner Witson moved the public hearing
be �Iased and the amendment to the resolution voted on.
Vote: Yeas - 6 Nays - 0
Gommissioner Sonnen moved to approve the agreement as amended, as set forth
in RESOLUTION NO. 85-4/4-1 (page 18494). The motion carried with a vote five in
favar with Commissioner Drew voting nay.
III. ADJOURNMENT -
There being no further business the Chairman declared the meeting adjourned.
�, � /J� 18494
L./� �'S _c'/`J -
R SOLUTION N0. 85-4J4-1
RESO UTION AUTHORIZING EXECUTION
F AN NDMENT TO THE PAYMENT AND
RIORI AGREEN�ENT DATED DECEiIBER 1 , 1982 �
WHEREAS , the ousin and Redevelopment Authority adopts as
its findings the ecita s contained in the attached Amendment ;
now therefore, be it _
RESOLVED, the offic rs of the Authority' s Board of Commis ioners
and its Executive Direc or are hereby authorized to execute t e
attached Amendmen to t e Payment and Priority Agreement date
December 1 , 1982 .
_ ��s —`���
� � 4�,*,,, � CITY F SAINT PAUL
R' ° OFFICE OF TH CITY ATTORNEY
o a�
��� 5��������� �� EDWARD P. ST RR, CITY ATTORNEY
�'UO„�,. _�' 647 City Hall, Saint Paul,Minnesota 55102
�'
612-298-5121
GEORGE LATIMER
MAYOR
R�C IVED
February 15 , 198 MAR 31a$5
CITY A TORNEY
To : G e� B1 es
From: P il By ne�
Re : D DC Am ndment to Payment and Priority Agreemen
The Counci Ener y Committee wanted Administration sign- ff on this
Resolution. Can you do it , or get the Mayor to si�n it? Then tell
them to se d it o me for routing to the Council .
Enc .
�
V �` -..
1 `�.��_.l �E t•f.a...r�._��v .<
�� �5�
ITY OF SAINT PAUL ����
- FFICE OF TH� CITY COIINCIL
�.,...:�
n uuuuee
������` 0 Q t e ; blarch 27, 985
OMM (TTEE RE PORT
TO = SQ nt P u l City Council
F R O M � C O Rl l�' e e O h E.�IERGY, UTILITIES F� �IVIRON!�'�IT
C H I R our�cil Member Kiki Sonnen
Resolution ap roving execution of Payment and Priority Agreement da ed
December " 1, 982, b and amon;the City of Saint Paul, the Housing d
Redevelopment Author ty, the District Heating Development Company, d
the First Nat'onal B k of St. Paul.
At its m eting f March 27, 1985, the Energy, Utilities
and Envi onment Cormnittee, recorrunended approval of the .
resolut' n appr ving execution of the Payment and Priority
Agreeme , as ended.
CITY HALL SEVENTH FLOOR SAINT PAUL., INNESOTA 55102
�. ..
� � � ��_��-�
LAW OFFICE
M H LU M & ASSOC I ATES
A PROFESSIONAL ASSOCIATION
SUITE 2200, t�ORTH GENTRAL LIFE TOWER
44S MINNESOTA STREET
SAINT PAUL, MINNESOTA 55101
WILLIAM M. MAHLUM
KEN R. ERICKSON Ma r c h 2 7 19 8 5 TELEPHONE
JONN C. SPRANGERS /
612-292-1661
Honorable Kiki Sonn n
Councilman, City of Saint Paul .
City Hall
Saint Paul , M 551 2
Re: District eatin Development Company
First Ame dment to Payment and Priority Agreement
j
Dear Councilm n Son en:
Enclosed ple se fi d the First Amendment to the Paymen and
Priority Agr ement that is in the form as approved by your
committee th ' s dat . You wil:l note that we have adde the
requested la guage under the definition of Target ates,
" . . .such fisc 1 . . . " and struck the word " . . .that. . . " '
I have provi ed yo with two copies of this Agreement for your
report to the full ouncil and the HRA.
Thanking you or yo r kind attention to this matter, I am
Very truly y urs,
MAHLUM & ASS CIATE
% ` ; j � r :
� � `, � ` � � ' - ` _ _._-. � _
��, . .
� ---
BY:� 41'ILLIAM M. MA LUM
WMM: jb/5438A
Enc.
cc : Philip B rne, sq.
Richard artin Esq.
Mr. Hans 0. Ny an
j . 2��:
. � . � - � � ��' �/5�
�c�, ��i /�.� �
FIRST AMENDMENT
TO
PAYME T AND PRIORITY AGREEMENT
Relating to:
THE HOOSI G AND REDEVELOPMENT AUTEORITY
0 TAE ITY OF SAINT PAUL, MINNESOTA �
$30,500,000
Y- •-�---� Flo ting Rate Monthly Dema�nd.
Dis rict eating Revenue Bonds, Series A
Da ed as of , 1985
THIS INSTRUMENT DRAFTED BY:
MAHLUM & ASSOCIATES
A Professional Association
St. Paul , Minnesota
� ' � ' • . � � � . . ' • _ (�,.��
. ��
� ,��v . � 3��.s-'
THIS PA MENT ND PRIORITY AGREEMENT FIRST AMENDMENT is
made and entered into as of , 1985, by and among HE
HOUSING AND REDE ELOP ENT AUTHORITY OF THE CITY OF SAINT PA L,
MINNESOTA, a pub ic b dy corporate and politic (the "HRA" ) , he
CITY OF SAINT PA L, M NNESOTA, a municipal co�rporation and me
rule charter ci y (t e "City" ) , DISTRICT HEATING DEVELOP ENT
COMPANY, a Minn sota on-profit corporation (the "Corporati n" )
and THE FIRST N TIONA BANK OF SAINT PAUL, a national ban ing
association ( the "Ban " ) .
RECITALS
WHEREA :
A. T e pa ties hereto being all of the partie to
the Payment an Pri rity Agreement dated as of Decembe 1 ,
1982, mutually esire to amend the Agreement to more accura ely
reflect the ori inal ' ntention of the parties ; and
B. T e pa ties hereto contemplated and antici ated
that the defin ' tion f "Target Rates" , as that t�erm is us d in
Section 1. 02 o the greement, would include a negative di fer-
ential that wo ld p rmit the Corporation to charge rates and
charges that w uld e at a predetermined percentage less than
actual firm na ural as prices ; and
-.- --WHERE S, th parties contemplated and agreed tha the
projected firm natu al gas prices would be at or below a tual
natural gas pr ces ; nd
WHERE S, su sequent to the execution of the Agre ment,
the actual nat ral as prices are lower than the projected firm
natural gas pr ' ces; and
WHER S, t e parties, by adoption of this Amen ment,
, more accurate y ref ect the intention of the parties upon adop-
tion of the greem nt and the parties now wish to ente into
this Amendmen to utually benefit the parti,es and her by to
assure the su cessf 1 economic vitality of the Corporation
, NOW, THERE ORE, the HRA, the City, the Corporati n and
� the Bank, in consi eration of the mutual promises and agree-
ments and th bene its to be enjoyed by the adoption o this .
. Agreement , t e su ficiency of said consideration is hereby
� acknowledged y all the parties hereto, hereby agree as f llows :
Amen Section 1 . 02 by striking the defin -"
tion of " arget Rates" contained in Section 1 . 2
and subs itute the following definition f
"Ta get R tes" .
4075A/REV. 02 385/5 35A
. 2
. _ -
.� � �4 � � 5-y�'�
. �
� � ��r/ , �- � - d�s �
Tar et ates shall mean, subject to the
terms a d co ditions of the Service Agreements,
the rat s and charges permitted to be charged by
the Cor orati n under the Service Agreement equal
to a p edete mine _ rcentage (which will vary
over ti e ) o actu firm natural gas prices ;
"pre et rmine entage" shall be that percent-
age f r an� given`uyear used by Gilbert and
Associa es, easi i i Consultants to the Cor-
poratio , fo the purpose of their feasibility
study ith espect to the system bearing the
latest ate rior to the issuance and delivery of
the Se ies A Bonds ; and "actual firm natural gas
prices" shal mean the prices actually charged by
Northe n St tes Power Company to customers
locate within the City from time to time for
non-in errup ible natural gas service.
FURTHER PR VIDED That the Corporation shall indemn' fy, �
defend and hol the ity. and HRA (and all officers, agent or
employees ther of ) armless from and against any and all
claims, action , ju gments, orders, agreements, obligat ' ons,
liabilities, lo ses, damages, expenses and costs (includin but
not limited to atto neys ' fees) arising out of, based on, or
related to this Fir t Amendment to the Payment and Pri rity
Agreement, and the s id Payment and Priority Agreement, an all
-�- deferra��;-- acc unti g practices or proce�lures, payments and
actions of any kind whatever required by or performed pur uant
to said Amen ment or said Agreement as modified by the
Amendment.
- IN�'WI NESS HEREOF, the HRA, the City, the Corporation
and the Bank h ve c used this Agreement to be executed by their
duly authorize offi ers.
4075A/REV. 02 385/5 35A
3
: • . . � . . � . � ��- �s�
� � ,C�. .�/i3 �5�
THE HOUSING AND REDEVELOPME T
AUTHORITY OF THE CITY OF SAI T
� PAUL, MINNESOTA
BY
Its Chairman
By
Its Secretary
By
Its Executive Director
By
Its Director, Department of
Finance and Management Services
(SEAL) �
Approved as to orm:
Assistant City ttorn y
Amendment to Pay ent and Priority Agreement dated as of .
. , 1985 by and among the HRA, the City, the
Corporation a d th Bank .
4075A/REV. O 1385/ 235A
4
l '{
�
_ � � � � � @��' -���'
. . ' ,t���. �/i3 �5'
DISTRICT HEATING DEVELOPM NT
COMPANY
By
Its President
By
Its Treasurer
�.. .......__. ..
• � Amendment t Pay ent and Priority Agreement dated as of
, 1985 by and among the HRA, the Cit , the
Corporation nd th Bank.
4075A/REV. O 1385/ 235A
5
.� � � � � � � � �s- ��'
. � ��� �� �`�
THE FIRST NATIONAL BANK OF SA NT
PAUL
By
Its Executive Vice President
By
Its Assistant Vice President
� ' Amendment to Pay ent and Priority Agreement dated as of
, 1985 by and among the HRA, the Cit , the
Corporation d th Bank. "
4075A/REV. 02 385/5235A
6
� � ''�c ���
, � , . . - ��-�
- � � � ��!/. /3��.5�
CITY OF SAINT PAUL
BY
Its Mayor
' By
Its Director, Department of
Planning and Economic Developmen
By
Its Director, Department of
Finance and Management Services
(SEAL)
Attest :
...: •.d....-. �.
City Clerk
Approved as to form:
Assistant Cit Atto ney
Amendment t Pay ent and Priority Agreement dated as of
, 1 85 by and among the HRA, the City, the Corp ration
and the Bank
4075A/REV. O 1385/ 235A
7
� . � . ,�� -_ �.��
�
�.z��l, -�, �1i.5�
FIRST AMENDMENT
TO
AYMEN AND PRIORITY AGREEMENT
Relating to:
THE OUSI G AND REDEVELOPMENT AUTHORITY
OF THE C TY OF SAINT PAUL� MINNESOTA
$30,500,000
Flo ting Rate Monthly Demand
Dis rict eating Revenue Bonds, Series A ,
Da ed as of , 1985
THIS INSTRUMENT DRAFTED BY:
MAHLUM & ASSOCIATES
A Professional Association
St . Paul , Minnesota
� � � � �� - �J��'
�
,,��. �/ 7�'�s�
THIS PAY ENT A D PRIORITY AGREEMENT FIRST AMENDMENT i
made and entered into s of , 1985, by and among TH
HOUSING AND REDE ELOPM NT AUTHORITY OF THE CITY OF SAINT PAU ,
MINNESOTA, a public bo y corporate and politic ( the "HRA" ) , t e
CITY OE SAINT PA L, MI NESOTA, a municipal corporation and ho e
rule charter ci y (th "City" ) , DISTRICT HEATING DEVELOPME T
COMPANY, a Minne ota n n-profit corporation ( the "Corporation )
and THE FIRST NA IONA BANK OE SAINT PAUL, a national banki g
association ( the "Bank ) .
RFCITALS .
WHEREAS
A. Th par ies hereto being all of the parties to
the Payment an Pri rity Agreement dated as of December 1,
1982, mutually esire to amend the Agreement to more accurat ly
reflect the ori inal intention of the parties ; and �
!
B. T e par ies hereto contemplated and anticipa ed ;
that the defini ion o "Target Rates" , as that term is used in
Section 1. 02 of the A reement, would include a negative diff r-
ential that wo ld pe mit the Corporation to charge rates nd
charges that w uld b at a predetermined percentage less than
actual firm nat ral g s prices ; and
WHERE , th parties contemplated and agreed that the
projected firm natur 1 gas prices would be at or below ac ual
natural gas prices ; nd
WHERE S, su sequent to the execution of the Agreem nt, �
the actual nat ral g s prices are lower than the projected irm i
natural gas pr ces ; nd �
WHERE S, t e parties, by adoption of this Amend ent,
more accuratel ref ect and clarify the intention of the par-
ties upo� adop ion f the Agreement and the parties now wish to
enter into th s Ame dment to mutually benefit the parties and
to assure the successful economic vitality of the Corporati n.
�
NOW, THERE ORE, the HRA, the City, the Corporatio and
the Bank, in consi eration of the mutual promises and a ree- �
ments and the bene its to be enjoyed by the adoption of this I
Agreement, t e sufficie�cy of said consideration is h reby �
acknowledged y all the parties hereto, hereby agree as follows:
Amend Section 1 . 02 by striking the defini
tion of " arget Rates" contained in Section 1 . 0
and subs itute the following definition o
"Tar et Rates" .
4075A/REV. 03 785/5 35A
2
. . . �=ys�
�
i
�QEV. 3 �7/�.� �
Tar et ates shall mean, subject to the
terms a d co ditions of the Service Agreements,
the rat s and charges permitted to be charged by
the Cor orati n under the Service Agreement equal
to a p edete mined percentage (which will vary '
over time ) o actual firm natural gas prices ;
"predet rmine percentage" (for any given year )
shall b that percentage that results from divid-
ing th Cor oration ' s projected hot water rate
for the Corp ration ' s next fiscal year (expressed '
in �/M Btu s contained in Gilbert/Commonwealth .
December 2, 982 computer analysis reported to
the Co porat on) by such fiscal year ' s projected
firm n tural gas/MMBtu end use rate (as contained
in Tab e 9 of the Gilbert/Commonwealth Report to
the Co poration dated September 30, 1982) ; pro-
vided, howe er , that the resulting percentage
shall ever be lower than 72$ ; the "actual firm
natura gas rices" shall mean a weighted average
of the price actually charged by Northern States
Power Compa y for its various classes of non-
interr ptibl City of Saint Paul gas service
custo rs, to be determined by assigning the
deman for ach DHDC customer to that customer ' s
compa able orthern States Power Company class of
non-i terru tible customers.
mend ection 3. 03, by adding a new Section
D. as follo s :
. Th parties agree that the Corporation
hall not impose the provisions of Article
XI , f the Service Agreement { related to
xpansion reserve charges ) while there are
outst nding but unpaid deferred Franchise
Fees r Supplemental Bank Fees pursuant to
this greement .
Amend Article III by adding a new Section
3. 05 as fo lows: '
i
Secti n 3. 05. Refinancing of Series A Bonds .
T e Corporation hereby agrees that i
shall not redeem the Series A Bonds withou
firs obtaining the prior written consen
ther to of the City and the Bank . The Cit
and he Bank agree that their consent t
refi ancing shall �ot be unreasonably with
held
4075A/REV. 032785/5235A
3
. , , � ` J� -,/�
�� y,
/��v. 3/�7/�5� ;
Ame d Section 5. 06 of the Agreement by
adding a new S ction C. as follows :
C. Notwithstanding the provisions oF this '
Se tion, all current and deferred fees shall
be paid o:
(a) he City, within twelve ( 12 ) months
afte the expiration of the Franchise
gran ed to the Corporation by Ordinance
No. 16947, as amended by Ordinance No.
1696 , in accordance with Section XV of
said Ordinance, as amended, (deferred
Fran hise Fees ) .
(b) The Bank , within twelve ( 12) months
aft r the expiration of the Letter of
Cre it provided to the Corporation by
the Bank (Supplemental Bank Fee ) . �
FURTHER PR VIDED That the Corporation shall indemni y, %
defend and hold the ity and HRA (and all officers, agents or
employees ther of ) armless from and against any and 11
claims, action , ju gments, orders, agreements, obligati ns,
liabilities, lo ses, amages, expenses and costs (including but
not limited to attor eys ' fees) arising out of , based on, or
related to thi Fir t Amendment to the Payment and Prio ity �
Agreement, and the s id Payment and Priority Agreement, and all �
deferrals, acc untin practices or procedures, payments and �
actions of any kind hatever required by or performed purs ant '
to said Amendm nt or said Agreement as modified by the Am nd- '
ment. �
IN WI NESS HEREOF, the HRA, the City, the Corpora ion
and the Bank h ve ca sed this Agreement to be executed by t . eir
duly authorize offi ers.
�
i
i
�
i
I
4075A/REV. 03 785/5 35A
4
- - . � ��=y�/
�� .�/����5,
THE HOUSING AND REDEVELOPME T
AUTHORITY OF THF CITY OF SAI T
PAUL, MINNESOTA
I3y
Its Chairman
By
Its Secretary _
By
Its Executive Director
By
Its Director, Department of
Finance and Management Services
(SEAL)
Approved as to orm:
Assistant City ttorn y
Amendment to Paym nt and Priority Agreement dated s of
, 1985 by and among the HRA, the City, the
Corporation an the Bank .
4075A/REV. 032 85/52 5A
5
- � - �- �=�s�'
DISTRICT HEATING DEVELOPME T
COMPANY
By
Its President
By
Its Treasurer
Amendment to Paym nt and Priority Agreement dated as of
, 1985 by a�d among the HRA, the City, the
Corporation a d the Bank .
4075A/REV. 03 785/5 35A
6
, .
� � ��-�s
THE FIRST NATIONAL BANK OF SAINT
PAUL
By
Its Executive Vice President
By .
Its Assistant Vice President
Amendment to Paym nt and Priority Agreement dated a of
, 1985 by and among the HRA, the City, the
Corporation a d the Bank .
4075A/REV. 032785/5235A
7
- - - ' J ������'
CITY OF SAINT PAUL
By
Its Mayor
By
Its Director, Department of
Planning and Economic Developme t
By
Its Director , Department of
Finance and Management Services
(SEAL)
Attest :
City Clerk
Approved as t form
Assistant Cit Atto ney
Amendment t Pay ent and Priority Agreement dated s of
, 1 85 by and among the HRA, the City, the Corp ration
and the Bank
4075A/REV. O 2785/ 235A
8