85-1526 Finance and Manageme t Serv' es DEPARTMENT �-�',5�(o Np 164 �
Gary Norstrem CONTACT
292-7016 PHONE
September 30, 1985 DATE 1 Q,/�� e
ASSIGN NUMBER FOR ROUTING ORDER (Clip All Locations for Signature) :
Department Director 3 Director of Management/Mayor
� Finance and Management Services Director � t City Clerk
Budget Director
City Attorney
HAT WILL BE ACHIEVED BY TAKING ACTION ON THE ATTACHED MATERIALS? (Purpose/
Rationale) :
Resolution designates First Trust Company of Saint Paul as Paying Agent/Registrar
for the 1985 Water Revenue and General Obligation Bond Issues.
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COST/BENEFIT, BUDGETARY AND PERSONNEL IMPACTS ANTICIPATED. ?�9` �� �a
O'Pj+ �4<
��RS �
Routine service fees are included in annual Debt Service Budgets. '
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FINANCING SOURCE AND BUDGET ACTIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa-
ture not re-
Total Amount of Transaction: quired if under ,
$10,00Q)
Funding Source:
Activity Number: �
ATTACHMENTS (List and Number All Attachments) : RECEIVED �
1. Council Resolution. OCT 17 1985
OFFICE OF THE DIRECTOR
DEPARTMENT OF FMANCE
pND MANAGEMENT SERVICES
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
Yes No Council Resolution Required? Resolution Required? X Yes No
Yes No Insurance Required? Insurance Sufficient? /�Yes No
Yes No Insurance Attached:
(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 S,pecial 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 preferred 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)
l. 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 ATTP,�HMENTS 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 requestQd. _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:
1. Contractual relationship with another governmental unit.
2. Collective bargaining 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.
� �'�'�/.S��
AGREEMENT RELATING TO PAYING AGENCY,
REGISTRAR AND TRANSFER AGENCY
THIS AGREEMENT made this 6th day of September, 1985, by
and between the City of Saint Paul, Ramsey County,. Minnesota (the
Registrar) , a corporation duly organized and existing under the
laws of the State of Minnesota, WITNESSETH that the Issuer has by
resolution adopted August 27, i985, a certified copy of which is
attached he,reto as Exhibit A, authorized the issuance of
$5,375,000 Water Revenue Bonds , Series 1985A (the Bonds) ; and that
the Issuer has designated the Registrar as the paying agent,
registrar and transfer agent for-�he Bonds.
NOW THEREFORE, the Issuer and the Registrar, each in
consideration of the representations , covenants and agreements of
the other as set forth herein, mutually represent, covenant
and agrees as follows : � -�-•-
Section 1. Re�istrar ' s Duties .
1. 1 Register. The Registrar shall keep at its
principal corporate trust office a Bond Register in which the
Register shall provide for the registration of ownership of the
Bonds and the registration of transfers and exchanges of the
Bonds entitled to be registered , transferred or exchanged .
1.2. Transfer of Bonds. Upon surrender to the
Registrar for transfer o any Bond duly endorsed by the
registered owner thereof or accompanied by a written instrument
of transfer, in £orm satisfactory to the Registrar duly
executed by the registered owner thereof or by an attorney duly
authorized by the registered owner in writing, together with a
guarantee of the signature satisfactory to the Registrar , the
Registrar shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Bonds of
a like aggregate principal amount and maturity, as
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requested by the transferor . The Registrar may, however , close
the books for registration of any transfer after the 15th day of
the month preceding each interest payment date and until such
interest payment date.
1.3 . Exchange of Bonds . Whenever any Bonds are
surrendered to the Registrar for exchange the Registrar shall
authenticate and deliver the Bonds which, under the authorizing
resolution, the owner making the exchange is entitled to receive.
1.4 . Cancellation. All Bonds surrendered upon any
transfer or exchange shall be promptly cancelled by the
Registrar and retained for a period of two years and thereafter
disposed of as directed by the Issuer .
1. 5. Improper or Unauthorized Transfer. When any Bond
is presented to the Registrar for transfer , the Registrar may
refuse to transfer the same until it is satisfied that the
endorsement on such Bond or written instrument of tr�nsfer is
valid and genuine and that the requested transfer is legally
authorized . The Registrar shall incur no liability for the
refusal, in good faith, to make transfers which it, in its
judgment, deems improper or unauthorized .
1. 6. Persons Deemed Owners . The Registrar shall treat
the person in a�hose name any Bond is at any time registered in
the Bond Register as the absolute owner of such Bond , whether
such Bond shall be overdue or not, for the purpose of receiving
payment of, or on account of, the principal of an� interest on
such Bond and for a11 other purposes , and all such payments so
made to any such registered owner or upon his order shall be
valid and eff�ctual to satisfy and discharge the liability upon
such Bond to the extent of the sum or sums so paid .
1 . 7. Taxes , Fees and Char�es. For every transfer or
exchange of Bonds , the Registrar may impose upon the owner
thereof a charge sufficient to pay or reimburse the Registrar
for any tax, fee or other governmental charge required to be
paid with respect to such transfer or exchange.
1. 8. Mutilated , Lost, Stolen or Destro ed Bonds . In
case any Bond shall become mutilated or be destroyed , stol.en or
lost , the Registrar shall deliver a new Bond of like amount,
number , maturity date and tenor in exchange and substitutian for
and upon canceZlation of any such mutilated Bond or in lieu of
and in substitution for any such Bond destroyed , stolen or last,
upon the payment of the reasonable expenses and charges of the
Registrar in connection therewith; and , in the case of a Bond
destroyed, stolen or lost , upon filing by the owner with the
Registrar of evidence satisfactory to it that such Bond was
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destroyed , stolen or lost , and of the ownership thereof, and
Upon furnishing to the Registrar of an appropriate bond of
indemnity in form, substance and amount as may be required by
law and as is satisfactory to the Registrar , in which bond the
Issuer and the Registrar shall be named as obligees . All Bonds
so surrendered to the Registrar shall be cancelled by it and
evidence of such cancellation shall be given to the Issuer. If
the mutilated , destroyed, stolen or losC Bond has already
matured or been called for redemption in accordance with its
terms it shall not be necessary to issue a new Bond prior to
payment, provided that the owner shall first provide the
Registrar with a bond of indemnity as set forth above.
1 . 9. Records , St�atements , Payment of Interest and
Principal. The Registrar shall : '
(a) keep true and accurate accounts of the
outstanding principal balance of the Bonds ;
(b) not less than thirty (30) days before the due
date of any principal of or �terest on the Bonds,
send a statement to the Issuer of the amount which
will be required to pay the principal of and interest
on the Bonds on such date; `
(c) pay such of the interest on the Bonds as is
due on each stated interest payment date, with the
funds received from the Issuer, by check or draft
__ mailed, no later than the interest payment date, to
the� registered owners of the Bonds as of the close of
business on the last day (whether or not a business
day) of the preceding month, at their addresses as
they appear on the Bond Register ; if the Issuer
provides the Registrar with sufficient funds to make
such payment prior to any interest payment date, the
Registrar shall mail such checks or drafts at the
close of business on the Iast business day preceding
such interest payment date;
(d) pay such of the principal of the Bonds as is
due on the stated payment dates, with the funds
received by the Issuer, upon presentation of the Bonds
for payment;
(e) forthwith upon presentation and payment of
the Bonds cancel the same and retain and dispose of
the same in the manner set forth in Section 1.4
hereof; and
The Registrar shall not be required to pay interest on any
funds of the Issuer for any period during which such funds
are held by the Registrar awaiting the presentation of the
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Bonds for payment . Any funds remaining in the possession
of the Registrar for payment of the Bonds five (5) years
after the date for the payment thereof has expired shall,
subject to any applicable escheat law, be returned to the
Issuer upon demand.
1. 10. Instructions from Issuer . The Registrar in
respect to any matter arising in connection with said
agency, may apply to, and act under the instructions of,
the Treasurer of the Issuer , and , in
respect to any legal question arising in connection with
said agency, may apply to, and act under the instructions
Of the Saint Paul City .Attorney
1. 11. Delivery of Records to Issuer ; Retention.
The Registrar may, from time to time at its discretion,
deliver to the Issuer, for safekeeping or disposition by
the Issuer in accordance with law, such records
accumulated in the performance of its duties as it may
deem expedient, and the Issuer assumes all responsibility
for any failure thereafter to produce any paper , record or
document so returned, if and when required .
Section 2. Issuer ' s Duties .
2. 1. Provision of Executed Bonds . The Issuer
shall provide the Registrar with such executed Bonds as
are required to issue Bonds in exchange for or upon
transfer of outstanding Bonds . _
2.2 . Provision of Funds to Pa Princi al and
Interest. The Issuer s a 1 remit to t e Registrar not
later t6an five days before payment date, or if in Federal
or Collected Funds on or before each interest payment
date, the sum needed for payment o€ the Bonds and interest
thereon due on said date.
2 .3 . Payment of Fees and Charges of Registrar .
The Issuer shall pay to the Registrar reasonable fees and
charges for services performed hereunder in accordance
with the Registrar ' s fee schedule in effect at the time of
the service. The fees and charges of said Registrar shall
in no event become a charge against the funds remitted by
the Issuer for payment of principal and interest on the
Bonds .
2.4. Failure to Provide Funds . If collected
funds needed for payment do not reach the Registrar by any
interest payment date, payment of items may be refused and
the Issuer may be charged for reasonable expenses incurred
and extra service performed in accordance with the
Registrar ' s schedule in effect at the time of the payment
date.
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2 . 5. Ir�demnification. The Issuer shall indemnify and
save the Agent harmless from and against any loss , cost,
charge, expense, judgment or liability which it may incur in
the exercise of its powers and duties hereunder and which are
not due to its negligence or default .
Section 3. Termination
Either party may terminate this agreement by written
notice mailed to the other party at least thirty (30) days
prior to termi,nation date, upon �ahich event the Registrar shall
return all cash and Bonds in its possession to the Issuer or
its order and shall deliver the Bond Register to the Issuer or
its order , and the Issuer shall pay any accrued and unpaid
service cha.rges to the Registrar.
IN WITNESS WHEREOF, the Issuer and the Registrar
have caused this agreement to be executed in their respective
names by their duly authorized representatives , in two
counterparts, each of which shall be deemed an original.
r��,•� r��-��-=�"" ITY OF SAINT PAUL, RAMSEY COUNTY, MINNESOTA
,�:.s,� � � .�.: ��.
ssuer
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'F,s�' . 'i�� :��� � y
_ _ By
ts M r
(SEAL)
By �
ts Director , Department o inance
and Manag ent Services
FIRST TRUST COMPANY, INC.
Regist,�rar .
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By �r�l4
Its Vice Pre ide 't
(SEAL) � � ����
By
; ; �
It ' Ass�istant Secretary
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. ��� ��
,�„ �'���., CITY OF S.AINT PAUL
.,. �-� �_
,i�s=�:::'�� OFFICE OF TI3T CZTY CDU�TCIL
:�ic��i:;cti
Cam,mitt�e Repart
F:i�.an�e. Mana�em�nt & Persannel Cammittee.
_y
November 7, 1985
`,
1. Approval of minutes from meeting held October 31, 1985. �f�i�QQJ�
2. Resolution approving an amendment to the 1984-85 Collective Bargaining Agreement
between the City and AFSCME Local 1842 and Local 2508. �}�C:yF,�
3, ,�a�l�ta,�„pz� �ving agreement����h First Trt�s�..C.Q�a y as Paying Agent, Registrar
and Transfer Agency for the 1985 Water Reve u��and General Obligation Bond
Issues. �RCy� '
�
• �'� Resolution approving the City's participat.ion in the Consolidated Dislocat�d �Vorker
Proj�ect and amendi.ng the 1985 Special Fund Budget b adding �SII'U to the Financing
Plan and Spending Plan for said project. �P�v� " G 7,.5°`'�
5. Resolution amending the 1985 budget by adding $15, 377 to the Financing Plan and
Spending Plan for Public Health-Health Bldg. Maintenance. �f?PRCVF.a
6. Resolution authorizing the issuance of Port Authority Revenue Bonds in the anount �
of $2,500,000 to finance the completion of office s ace in the Cruciform Building
in Energy Park by Atrium Office Partners. �
7. Resolution amending the 1985 budget by adding $10,900 to the Financing and Spending
Plan for Community Services. Pc���V�
8. Administrative Orders: D-7682 (addition of $362,901.50 to the contract for the
improvement of Ford Prky. from Mississippi River Blvd. to Howell Street and
Cleveland Ave. from Hillcrest to Bayard) and D-7686 (Budget revision in Community
Services Dept.) � NO �'riC�ti I{[��.r�'�
NOT ON PREPARED AGENDA: Resolution amending the 1985 budget by adding
. $154,060 to the Financing and Spending Plan
for Special Projects-Police. 14QP/`�allud.
CTIY HALL SEVENTH FLOOR SAINT PAUL,MINNESOTA 55102
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