85-1147 WHITE - C�TV CLERK
PINIG� �F�MAN�E '� G I y OF SA I NT PALT L Counci! �-_ ��
CANARV - DEPARTMENT �', � ��
BLUE - MAVOR I Flle NO.
� I
' Co ncil Resolution
Presented By
Referred To Committee: Date
Out of Committee B� Date
heretofqre nor wil either the Board or the City hereafter
enter ir�to an cont act which will obligate any person or
persons ',to purchas water from the City or Board in a total
aggregatie amount w ich would cause any of the bonds herein
authoriz�ed to beco e industrial development bonds within the
meaning of Section 103(b) of the Code and the regulations
promulgated thereu der, and in particular Federal Income Tax
Regulatiions, Secti n 1.103-7(b) (5) .
�
' 31. Head n s. Headings in this resolution are
included for coven ence of reference only, and are not a part
hereof.
�
COUIVCILMEIV Requested by Department of:
Yeas �� Son�ien i �
��ew De artme f Finance na ement Services
Masanz
In Favor
NiCOSia �
sFhetbei � _ gainst BY --�
��
Wilson
AUG Z �5 Form Approved by Cit ttoy�ey .
Adopted by Council: Dat� �
Certified P s b n il S t BY �
By
�lpprov �Vlav : te ° S P " 3 1 Appr ved a r f r Su ' sion to Council
By By
pl�$USHED s E - � �9a5
e d DEPARTMENT �-�- 1'Z�►�- P t/�-- NO 1645�''
Shirle Davis CONTACT ��� �� �'���`�
292-7038 PHONE
Au ust 22 1985 OATE ���� e Qi
ASSIGN NUMBER FOR ROUTI G ORDER Cli All Locations for Si nature :
Department Director � Director of Management/Mayor
� Finance and Managem nt Services irector 4 City Clerk
�udget Director
ity Attorney
WHAT WILL BE ACHIEVED B TAKING ACTI N ON THE ATTACHED MATERIALS? (Purpose/
Rationale) •
1. Determines the amou t of Revenu Bonds to be sold to provide money for improvements to the
City of Saint Paul ater Utilit which the Board of Water Commissioners has deemed
necessary.
2. Sets the date and t me of sale nd defines the "Official Terms of the Offering".
3. Provides authority or the publ cation of the notice of the sale. ��.
4. Adopts the "Officia Terms of t e Offering" of the issue. L�,�'�,
�9(/ , l�t'�
�;,�,�,G�S%985
COST BENEFIT BUDGETARY D PERSONNE IMPACTS ANTICIPATED: r�,t�,',;�.`
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v�r'L.,�
No Citywide tax levies would be re ired for these revenue bonds as they would be totally
supported by the net r venues of t e Water Utility.
FINANCING SOURCE AND BUD ET ACTIVITY NUMBER CHARGED OR CREDITED; (Mayor's signa-
ture not re-
Total Amount of Trans ction: quired if under
$10,00Q)
Funding Source:
Activity Number:
ATTACHMENTS List and Nu ber All Att chments : �
Council Resolution: $5,375,000 Wat r Revenue Bonds of 1985, Series A
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
X Yes No Counctl Re olution Requ'red? Resolution Required? �7L'es No
Yes No Insurance equired? Insurance Sufficient? es No
Yes No Insurance ttached:
(SEE REVERSE SIDE FOR INSTRUCTIONS)
Revised 12/84
HOW TO USE THE GREEN SHEET
The GREEN SHEET has several PURPOSES:
1, to assist in routing documents and in securing required signatures
2. � to brief the reviewers of documents on the impacts of approval
3. to help ensure that necessary supporting materials are prepared, and, if
required, attached.
Providing complete information under the listed headings enables reviewers to make
decisions on the documents and eliminates follow-up contacts that may delay execution.-
The COST/BENEFIT, BUDGETARY AND PERSONNEL IMPACTS heading provides space to explain
the cost/benefit aspects of the decision. Costs and benefits related both to City
budget (General Fund and/or Special Funds) and to broader financial impacts (cost
to users, homeowners or other groups affected by the action) . The personnel impact
is a description of change or shift of Full-Time Equivalent (FTE) positions.
If a CONTRACT amount is less than $10,000, the Mayor's signature is not required,
if the department director signs. A contract must always be first signed by the
outside agency before routing through City offices.
Below is the greferred ROUTING for the five most frequent types of documents:
CONTRACTS (assumes authorized budget exists)
1. Outside Agency 4. Mayor
2. Initiating Department 5. Finance Director
3. City Attorney 6. Finance Accounting
ADMINISTRATIVE ORDER (Budget Revision) ADMINISTRATIVE ORDERS (all others)
1. Activity Manager 1. Initiating Department
2. Department Accountant 2. City Attorney
3. Department Director 3. Director of Management/Mayor
4. Budget Director 4. City Clerk
5. City Clerk
6. Chief Accountant, F&MS '
COUNCIL RESOLUTION (Amend. Bdgts./Accept. Grants) COUNCIL RESOLUTION (all others)
1. Department Director 1. Initiating Department
2. Budget Director 2. City Attorney
3. City Attorney 3. Director of Management/Mayor
4. Director of Management/Mayor 4. City Clerk
5. Chair, Finance, Mngmt. & Personnel Com. 5. City Council
6. City Clerk
7. City Council
8. Chief Accountant, F&MS
SUPPORTING MATERIALS. In the ATTACHMENTS section, identify all attachments. If the
' Green Sheet is well done, no letter of transmittal need be included (unless signing
such a letter is one of the requested actions) .
Note: If an agreement requires evidence of insurance/co-insurance, a Certificate of
Insurance should be one of the attachments at time of routing.
Note: Actions which require City Council Resolutions include: ,
l. Contractual relationship with another governmental unit.
2. Collective barqaining contracts.
3. Purchase, sale or lease of land.
4. Issuance of bonds by City.
5. Eminent domain.
6. Assumption of liability by City, or granting by City of indemnification.
7. Agreements with State or Federal Government under which they are providing
funding.
8� Budget amendments.
/
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•.'�.����.�� D o t e : Augus t 2 2, 19 85
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�P � �� � t'I���i� ��� O h FINANCE, MANAGEMENT & PERSONNEL
� � C N A t P. J ES S CHEIBEL
1. Approval' of minutes rom meeting held August 15, 1985.
•2. Adnri:nistrative Order D-7584 - Budget revision� in Mayor-Personnel�/Urban
Corp._'��
3. Administrative Order D-7588 - Budget revision in PED-Cortmunity Develop-
ment B 1 ocNc Grant. , _ ,
� roviding fpr public sale of $5,500,000 (estimated) Water
Revenue Bc�nds Series 1985A. (Finance 8 Management Services) �� ,-
�--�5. Resolution authorizi abatement to Ramsey County asses�ment #9136 for
/��� demol.itior� of a hazar us structure at 184 N. Kent in the amount of
�3200 plus interest. (Finance 8 Management Servic�'s) '�
- , . �'���l�i:;�� '.�-
6. Resolutiqn approving 1985 Maintenance Labor Agreement between the City
-and the Ba,ilermakers U ion, Lodge 647.. (Personnel ) ��
�7. ._ Resolutio�n approving 985 Maintenance Labor Agreement between the City
' and the In�ternational nion of Elevator Constructors,_ Local 9. (Persn.) 4ri��
. 8. Resolution amending t e 1985 budget by adding �60,000 to the Finaneing
•Plan and tp the Spendi g Plan for Shade Tree Di-sease Control .
. (Community Services) �, .
9. Resolutio�h authorizin an agreement witfi Ramsey Action Programs, Inc.. for
health screening and �od assistance fund for the�homeless. �
(Cortmun i t�r Serv i ces) � �.
10. Resolution authorizin an agreement with the University of Minnesota for
the servi�es of Dr. L on Satran, M.D. (Community Services) �.t�^�
�
. 11 . Resolution authorizin execution of a contract with Minnes.ota Department
of Health ;whereby the ity will provide laboratory screening tests and
health counseling to p rsons identified at a higher risk of•developing
acquired immune defici ncy syndrome (AIDS) . (Cortmunity Services) `�,�
12. Resolution' authorizing an agreement between St. Paul Division of Librar-
ies and thie Department of Corrections-Oak Park Heights Correctional
Facility fpr an inter- ibrary loan program. (Community Services) �^�
CIiY HALL I� SLVE TFi FLOOR
SAINT PAUL, Ditti\'ESOT:I 55103
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' EXHIBIT A
OF ICIAL TERMS OF OFFERING
$5,375,000
CIT OF' SAINT PAUL, MINNESOTA
WATE REVENIJE BON�S, SERIES 1985A
Sealed bids for the Bonds will be opened by the Director of the Department of Finance and
Management Services on Tuesday, September 17, 1985, at I I:00 A.M., Central Time, at the
offices of SPRINGSTED Incorpora ed, Financial Advisor to ihe City, 800 Osborn Building, Saint
Paul, Minnesota 55102, (612)222-4241. Consideration for award of the Bonds will be by the City
Council at 12:00 Nooh, Central Ti e, of the same day.
DETAILS OF THE BONDS
The Bonds will be dat,ed October I, 1985 and will bear interest payable on June I and December I
of each year, commencing June I, 1986. Interest will be computed upon the basis of a 360-day
year of twelve 30-da� months and ill be rounded pursuant to rules of the MSRB. The Bonds will
be issued in integral rmultiples of $ ,000, as requested by the Purchaser, and fully registered as to
principal and interest. Principal ill 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 p yment date to the registered holder thereof at his address as
it appears on the books of the Reg strar as of the I Sth of the calendar month next preceding the
interest payment.
The Bonds will matur� December I in the amounts and years as follows:
$100,000 1987-1988 $650,000 1991 $800,000 1994
$550,000 I 98,9 $700,000 I 992 $875,000 I 995
$600,000 1990 $750,000 1993 $250,000 1996
The Bonds will not be,subject to pa ment in advance of their respective stated maturity dates.
' ECURITY AND PURPOSE
The Bonds will be special obligatio s of the City payable solely from net operating revenues of
the Water Utility of the City. The proceeds will be used to finance various improvements to the
Water Utility. �
TYPE OF BID
A sealed bid for not less than $5,2 2,875 and accrued interest on the total principal amount of
the Bonds shall be filed with the un ersigned prior to the time set for the opening of bids. Also
prior to the time set 'for bid openi g, a certified or cashier's check in the amount of $53,750,
payable to the order of the City, hall have been filed with the undersigned or SPRINGSTED
Incorporated, the City's Financial dvisor. No bid will be considered for which said check has
not been filed. The check of the P rchaser will be retained by the City as liquidated damages in
the event the Purchas�er fails to co ply with the accepted bid. The City will deposit the check
of the Purchaser, the amount of whi h will be deducted at settlement. No bid shall be withdrawn
after the time set for �opening bids, nless the meeting of the City scheduled for consideration of
the bids is adjourned, recessed, or ontinued to another date without award of the Bonds having
been made. No rate for any maturi y shall be more than I°'o 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 s me maturity shall bear a single rate from the date of the
Bonds to the date of �aturity.
�"�-_ // �7
AWARD
The E3onds wil{ be awarded to the idder offering the lowest dollar interest cost to be determined
by the deduction of the premium, if any, from, or the addition of any amount (ess than par, to,
the total dollar int�rest on the B nds from their date to their final scheduled maturity. The
City's computation of the total net dollar interest cost of each bid, in accordance with
customary practice, 'will be contro ling.
The City will reserve the right o: (i) waive non-substantive informalities of any bid or of
matters relating to t,he receipt of ids and award of the Bonds, (ii) reject all bids without cause,
and, (iii) reject any bid which th City determines to have failed to comply with the terms
herein.
REGISTRAR
The Registrar shall be First Trust ompany of Saint Paul, Saint Paul, Minnesota. The City will
pay for the services of the Registr r.
CUSIP NUMBERS
If the Bonds qualify fdr assignment of CUSIP numbers such numbers will be printed on the Bonds,
but neither the failur'e to print suc numbers on any Bond nor any error with respect thereto will
constitute cause for failure or ref sal by the Purchaser to accept delivery of the Bonds. The
CUSIP Service Bureau charge for he assignment of CUSIP identification numbers shall be paid
by the Purchaser.
SETTLEMENT
Within 40 days following the date o their award, the Bonds will be delivered without cost to the
Purchaser at a place' mutually sat sfactary to the City and the Purchaser. Delivery will be
subject to receipt by the Purcha er of an approving legal opinion of Briggs and Morgan,
Professional Association of Saint P ul and Minneapolis, Minnesota, which opinion will be printed
on the Bonds, and of ciustomary clos ng papers, including a no-litigation certificate. On the date
of settlement payment for the Bon s shall be made in federal, or equivalent, funds whicti shall be
received at the offices of the City, r its designee, not later than I:00 P.M., Central Time of the
day of settlement. Except as com (iance with the terms of payment for the Bonds shall hwe
been made impossible by action of he City, or its agents, the Purchaser shall be liable to the
City for any loss suffered by the ity by reason of the Purchaser's non-compliance with said
terms for payment. '
At settlement the Purchaser witl b furnished with a certificate, signed by appropriate officers
of the City, to the effect that the Official Statement did not as of the date of the Official
Statement, and does not as of the d te of settlement, contain any untrue statement of a material
fact or omit to state a material fac necessary in order to make the statements therein, in light
of the circumstances uhder which th y were made, not misleading.
' FFICIAL STATEMENT
Underwriters may obtain a copy of the Official Statement by request to the City's Financial
Advisor prior to the bid opening. T e Purchaser will be provided with 75 copies of the Official
Statement. '
Dated August 27, 1985 BY ORDER OF THE CITY COUNCIL
/s/ Edward J. Warn I'
Director, Department of
Finance and Management Servi es
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Seale �partment of Finance and
Manag� , A.M., Central Time, at the
offices � �ity, 800 Osborn Building, Saint
Paul, Min. .�ard of the Bonds will be by the City
Council at
,1E BONDS
The Bonds will bt � will bear interest payable on June I and December I
of each year, com .. Interest will be computed upon tne basis of a 360-day
year of twelve 30-d� �i be rounded pursuant to rules of the MSRB. The Bonds will
be issued in integra! r. a5,000, as requested by the Purchaser, and fully registered as to
principal and interest. .aa will be payable at the main corporate office of the Registrar
and interest on each Bc � will be payable by check or draft of the Regisir�r mailed the last
business day prior to the interes payment date to fhe registered holder thereof at his address as
it appears on the books of the Registrar as of the 1 Sth of the caiendar manth next preceding the
interest payment.
The Bonds will mature Decembe I in the amounts and years as �ollo�xs:
$100,000 1987-1988 $050,000 1991 $SQ0,000 I°Q4
$SS0,000 1989 $700,a00 1992 $875,000 19°S
$600,000 1990 $750,000 19°3 $254,000 1996
The Bonds will not be subject io payment in advance of their respective stated maturity dates.
ScCUR1TY Af�1D PURPOSE
The Bonds will be special obliga ions of the City payable solely from net operating revenues of
the Water Utility of the City. he proceeds will be used to finance various improvements #o the
Water Utility. ,
TYPE OF BID
A sealed bid for not less than $5,272,875 and accrued interest on the total principal amount of
the Bonds shall be filed with th undersigned prior to the time set for the opening o# bids. A1so
prior to the time set for bid o ening, a certified or cashier's check in the amount of $53,750,
payable to the order of the City, shall have been fited with the undersigned or SPRINGSTED
Incorporated, the City's Financ al 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 t comply with the accepted bid. The City will deposit the check
of the Purchaser, the amuunt of which will be deducted at settlement. No bid shall be withdrawn
after the time set for opening b ds, unless the meeting of the City scheduled for consideration of
the bids is adjourned, recessed, or continued to another date �Nithout award of the Bonds having
been made. No rate for any m turity shall be more than I o lower than any prior rate. No rate
nor the �et effective rate for the entire Issue of the Bonds sha11 exceed the maximum rate
permitted by law. Bonds of t e same maturit� shall bear a single rate from the date of the
Bonds to the date of maturity.
_ _ '
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� st to be determined
�t less than par, to,
��'/^^�� / /,f� 'ed mat�rity. The
j'r" ` c� accordance wi th
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�f any bid or of
s without cause,
with the terms
, ,.��nnesota. The City will
F
�,U51P NUMBERS
If � _.��y tor assignment of CUSIP numbers such numbers will be printed on the Bonds,
but ..��rner the failure to print suc numbers on any Bond nor any error with respect thereto will
constitute cause for failure or re# sal by the Purchaser to accept delivery of the Bonds. The
CUSIP Service Bureau charge for he 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 cost to the
Purchaser at a place mutually sa isfactory to the City and the Purchaser. Delivery will be
subject to receipt by the Purch ser of an approving legal opinion of Briggs and Morgan,
Professional Association of Snint aui and Minneapolis, Minnesota, which opinion will be printed
on the Bonds, and of customary clo ing papers, including a no-litigation certificate. On the date
of settlement payment for the Bon s 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., Cen#ral Time of the
day of seTtiement. Exceot as co pliance with the terms of payment for the Bonds shafl have
been made impossible by action o 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 e furnished with a certificate, signed by appropriate officers
of the City, to the effect that t e Official Statement did not as of the date of the Official
Statement, and does not as of the ate of settlement, contain any untrue statement of a material
fact or omit to state a material fa t necessary in order to make the statements therein, in light
of the circumstances under which t ey were made, not misleading.
OFFICIAL STATEMENT
Underwriters may obtain a copy f the Official Statement by request to the City's Financial
Advisor prior to the bid opening. The Purchaser will be provided with 75 copies of the Official
5 tatement. �
Dated August 27, 1985 BY ORDER OF THE CITY COUNCIL
/s/ Edward J. Warn
Director, Oepartment of
Finance and ��lanagement Ser ices
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