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85-802 WHITE - CITV CLERK PINK • -?INANCE GITY OF SAINT PAUL Council /� (�/y CAFIARV - DEPAR7MENT File NO. �✓ v�� BL�E - MAVOR � � � Co ncil Resolution Presented By •� Referred To Committee: Date Out of Committee By Date WHEREAS, 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 debt service account 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 COUIVC[LMEN Requested by Department of: Yeas X�� d�EN Drew �_ In Favor Masanz Nicosia scheibel � __ Against BY Tedesco Wilson Adopted by Council: Date Form Approved by City Attorney Certified as e Counc' ,e r BY By t#pproved by lVlavor. . Date _ Approved by Mayor for Submission to Council By _ By . ' . � (��.s�'�� WHEREAS, the City Council heretofore adopted a resolution (Council File No. 85-759) providing for the sale of $1,375,000 General Obligation Improvement Bonds, Series 1985A (the "Bonds") and the pledge of special assessments, taxes and other sums for the payment thereof, including interest thereon; and WHEREAS, the special assessments and other sums pledged under the Bond Resolution, without regard to taxes, are insufficient for the year 1987 only to provide an amount not less than five percent (5$) in excess of the sum required to pay when due the principal and interest due in that year. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota that for the purpose of providing for the deficiency in the special assessments and other sums pledged to the payment of the principal and interest upon the Bonds under the Bond Resolution, when and as the sar.le mature, 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 in the year 1985 on all of the taxable property in the City of Saint Paul, in addition to all other taxes, a direct, annual, irrevocable tax in the amount of $11,077. FURTHER RESOLVED that the tax levy is such that if collected in full, it, together with estimated collections of special assessr,tents and other stuns pledged to the payment of the Bonds and interest thereon, under the Bond Resolution, will produce at least five percent in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levy shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levy in the manner and to the extent permitted by Minnesota Statutes, Section 475.61 (3) . �'URTHER RESOLVED that taxes received for the tax levy herein made is hereby irrevocably appropriated to the Debt Service Account established under the Bond Resolution, and the Director, Department of Finance and Management Services be and is hereby instructed to file in the office of the County Auditor of Ramsey County a certified copy of the Bond Resolution and this Resolution, together with full information regarding the Bonds for which this tax is levied, and the Director, Department of Finance and Management Services 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, WMITE - CITV CLERK PINK . -fINANGE CITY OF SAINT PAITL Council yA- y�yt CANAFiV - DEPARTMENT Fll@ NO. `�`� D� � BLUE - MAVOR � � � Council Resolution ! Presented By Referred To Committee: Date Out of Committee By Date FINALL�, 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. COUNCILMEN Requested by Department of: Yeas ��ii��K S��TEN .rJ Finance and M ement Services Drew / IR FBVO[ Masanz NiCOSia Schelbei � __ Against B 7edesco Wilson JUN 1 1 1985 Form Approved y City Attorney Adopted by Council: Date Certified P� b ou cil ec t BY tapp by 14avor: Date �� Appr ve Mayor for Submiss n to ouV�eil By By PU�IIS�fEt) Jti�^d N „ 19$5 � Finance and Management Service EPARTMENT � 0✓ 0"a` ND 1 6 3 reasur - \ NTACT PHONE June 5, 1985 DATE ��i�� ,r �i ASSIGN NUMBER FOR ROUTING ORDER (Clip All Locations for Signature) : Department Director - � Director of Management/Mayor ,� Finance and Management Services Director 6 City CTerk Budget Director � Councilman Scheibel /� City Attorney �i, Sh�rley Davis �� WHAT WILL BE ACHIEVED BY TAKING ACTION ON THE ATTACHED MATERIALS? (Purpose/ Rationale) : 1. General Obligation Improvement Bonds, Series 1985A $1,375,000 ' The passage of the attached resolution will set a tax levy on the bonds sold and by copy of the Resolution this l�vy will be certified to the County Auditor. COST/BENEFIT, BUDGETARY AND PERSONNEL IMPACTS ANTICIPATED: - �`�,`,; 0��`'"'� �,J� �.'��., MSA 475 requires this action. c8 �✓'.� C� �( � ��,�r. ' ;��_ Y,� _"G�r ` ' � `, ti� ��Cr E FINANCING SOURCE AND BUDGET ACTIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa- ture not re- Total Amount of Transaction; quired if under $10,000) , Funding Source: Activity Number: ATTACHMENTS (List and Number All Attachments) : l. General Obligation Improvement Bonds Series 1985A $1,375,000 DEPARTMENT REVIEW CITY ATTORNEY REVIEW Yes No Council Resolution Required? Resolution Required? �Yes No Yes No Insurance Required? Insurance Sufficient? /V' Yes No Yes No Insurance Attached: (SEE REVERSE SIDE FOR INSTRUCTIONS) Revised 12/84 . - � - - - - � �;`:::%:", '.-�:�� CIT�' O�' .�AIN��.�.UL �.. �`,.;�-�'d�: - r-',;.�` ,� '�M�1� . . . . � l. .. _.�:i� �-'�>;�� Ol"�'I�ICi O�` 'I,`IIiC CZT�' COII1CZL ' : r,� .:.. �`.�11 �,:� !� ':•:_; -i-ti:{ �t1i� � , • • • 'F��' �.=� ' /;�� . � • � Date . June 6 , �19.85 ''`C;:.y:�-r=�'' . . � . � ._..- . C 0 I�t! I�E I�Z" E E I� E P 0 � �' i 4 = Sainr P�uI Ci�y CoU �ci� . - � � � . . - �E'�. O �J� = C�:I';j,�l j j�?� Q� FINANCE, MANAGEMENT & PERSONNEL • - ' C`�-� �`i I R JAMES SCHEIBEL 1 . AoRroval or minutes frcm mee�ing held Ma>> 30, 1985. Z. Ordin�nce amending Seet�ans Se.�2 or the St. Paut Administrarive Code pertaining to the 8udaer c�lenaar for the City ot= S't. Faui ana cfeieTing certain publicazion requirements. � (City Clerk) 3. Ordinance amending the Civil Servic� Rules pertaining to sjx unclassifie� positions in the Deaar�menz or Planning and Economic Oeve�opment.0e�ar- menz � stri ing in its enzirety Section 4.C. (Persannei ) G�� • �� / 4. Or� ' nce amendinq the Civil Service Rules pertaining to the �osition or Dire�or or" Food Servic�= in the St. Paul Public Schoals and �r1k1RC� in - its entir=_ry Section 34.F. (p�r�onne�) . _ _ 5. Ordinance es�at�lisning the titie ot= At�orney VIII in the Unclassffied Servic�_ (Per�annel ) � � - _ � ion amendin the S lar�/ 'Plan and Rates or Compensation Resoiution 6. Resolut 9 by e�tahlishing the unciassi.fie� title or At�t�ney VIII. 7. Res�lution approving l984-1985 Memorandum of Agreetnent betwee!i the City and the Tr-i-Councii bargaining unit, rearese�te� y Lacai 4g, Lac�! IZ� and Local 132. (Persannel) � 8. Resolution approving 1984-?985 Memor�ndum or Agre_ment be�ween the City and AFSCME Lacai 1842 an� AFSCME Local 2�o8. (Personne! } 9. Resolution a�proving 1985-1986 Memor�ndum of A�renme. � rween the City ana the Pipefitters Lacal No. 45�. (Personne! 10. Resolution amending the 198 � b dg�t by adding �9,8 to the Financing Plan and to the Spending Ptan for Ge�eral Fund-?vlic�-Technica! and , SUp00!"�' S car"r �Jn i ts. (?01 i ce?C�/'��i%L�-e �, 11. Aaministrative Qraer D-7489 - Budge* revision in the Community SO7.'VlC°5- Spe�ial ServiceG Enterprise_ �� ,/J� �"�' " ' /V -��S S . . �(/ � C,T!::ALL SLVE�iTH FLOOI'. � S�1INT P�1UL,�il�ti'ESOT:�SSIQZ � . • ,� �� . � �� . c2, Resolution recort►menc2ing the Citizans' Commission on 8on�ing and Financirtg . _ Pract?ces include within its scope, the review of UrGan Oeveloqme.►ir.�� Ac ion Grants, along with trie other fin ncing prac*:tces_ �. �— �Vb� � � �-�e � � N�� 13. Re=oiution tv purchase hardware (in the amount of �55�,00o) and sor"twar� ( in the amount or �3��,000) for a finance system. j � �Z%'� � NOT ON PREPARED AGNEDA: �-� �.R�o�{utYon'�`�tahlisk�ing a ta�x l�v�" �n �e�al Ob�,ligation I�rovement �nds , Series 1985A $�,�75,000 and provir�iing for certificati�orr-�of t e �� lev�"` �o the County°°Auditerr�. �,�� ,� . � ._ _ _ _ .____�______.� �_._�._ .�.__._ ._ :. . _-- _. __ __ _ _ . . ____ .��.,...��..,..�..�