84-16 WNITE +CITV CLERK
PINK - FINAN.�E ' COIIflCSl e
CANARV - DEPARTMENT G I TY OF SA I NT PAU L �(
BLUE � MAVOR File NO. �+�+/�
. �
" Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
-2-
obligation bonds of said City in the aggregate principal amount
of Three Million Five Hundred Ninety Thousand Dollars
($3,590,000.00) for the purpose of procurement by said City of
funds in said amount to be used by the City exclusively for
setivage disposal systems to provide for the prevention, control
and abatement of pollution of waters; and, be it
FURTHER RESOLVED, that said bonds shall be issued and
sold pursuant to the provisions of said Chapter 115, Minnesota
Statutes, and in accordance with Chapter 475, Minnesota
Statutes, and that sealed proposals be received in the office
of the Director, Department of Finance and Management Services,
for the sale of said bonds in accordance with the Official
Terms of Offering, a copy of which is attached hereto and has
been presented to the Council and is hereby directed to be
placed on file in the office of the City Clerk; the terms and
conditions of said bonds and of the sale thereof, as set forth
in said Official Terms of Offering, are hereby approved and
confirmed; and the Official Terms of Offering shall 'be
published in the manner prescribed by law in the Saint Paul
Legal Ledger, the official City newspaper and in Commercial
West; and, be it
FURTHER RESOLVED, that the bonds authorized above
shall be designated "General Obligation Water Pollution
Abatement Bonds, Series 1984. "
COUNCILMEN Requested by Department of:
Yeas Nays —�
Fietcner in c and na ement S rvices
�°� �Q'�W In Favor
Masanz
Nicosia B
scheibel � __ Against
Tedesco
Wiison
Adopted by Council: Date
JAN — 5 �98�F Form Ap City At rn
Certified Pa s d y Counc'I S ta BY
By r
t�pprove �Vlavor: Da JAN ! 9 ��� Appr y Mayor for Submis ' n t Co
f! BY r����� BY
PUBLISHED J A N 141984
_ �°�i�
OFFICIAL TERMS OF OFFERING
$3,590,000
CITY OF SAINT PAUL, MINrESOTA
GEI�RAL OBLIGATION WATER POLLUTION ABATEMEM' BONDS, SERIES 1984
Sealed bids for the Bonds will be opened by Peter Hames, Director of Finance and Management
Services on Tuesday, January 31, 1984, at II:00 A.M., Central Time, at the offices of
SPRINGSTED Incorporated, Financial Advisor to the City, 800 Osborn Building, Saint Paul,
Minnesota 55102, 612/222-4241. Consideration of the bids for award of the Bonds will be by the
City Council the same day at 12:00 Noon, Central Time.
DETAILS OF Ti-E OBLIGATIONS
The Bonds will be dated March I, 1984 and will bear interest payable on March I and September
1 of each year, commencing September I, 1984. The Bonds will be issued in integral multiples of
$5,000, and will be fully registered as to principal and interest.
The Bonds will mature March I in the amounts and years as follows:
$ 75,000 1985 $IS0,000 1993-1994 $225,000 1999 $300,000 2002
�$100,000 1987-1990 $200,000 1997-1998 $27�,000 200� $350,00 2004
125,000 1991-1992
The City may elect on March I, 1994, and on any interest payment date thereafter, to prepay
Bonds due on or after March !, 1995 at a price of por and accrued interest. Redemption may be
in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds
remaining unpaid which have the latest maturity date will be prepaid first. If only part of the
Bonds having a common maturity date are called for payment the specific Bonds to be prepaid
will be chosen by lot by the Registrar.
Principal will 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 payment date to the registered holder thereof at his address as it appears on the books �
of the Registrar as of the close of business on the I Sth day prior to the interest payment date or,
in the event such day is not a business day, on the last business day preceding the interest
payment date.
The Bonds will be general obligations of the City for which the City wil) pledge its f�ll faith and
credit and power to levy direct general ad valorem taxes. The proceeds will be used to construct
water pollution abatement facilities.
TYPE OF BID
A sealed bid for not less than $3,520,000 and accrued interest on the total principal amount of
the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also
prior to the time set for bid opening a certified or cashier's check in the amount of $35,000,
payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED
Incorporated, the City's Financial Advisor. No bid will be considered for which such 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 to comply with the accepted bid. No bid shall be withdrawn after
the time set for opening bids, unless the meeting of the City scheduled for consideration of the
bids is adjourned, recessed, or continued to another date without award of the Bonds having been
made. No rate for any maturity shall be more than I.S`Yo 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 same maturity shall bear a single rate from the date of the Bonds to the
date of maturity.
_ . ��'-i�
No bid may be conditioned upon award of any other offering of obligations by the City.
AWARD
The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined
by the deduction of the premium, if any, from, or the addition of any amount less than par, to,
the total dollar interest on the Bonds from their date to their final scheduled maturity. The
City°s computation of the totai net dollar interest cost of each bid, in accordance with
customary practice, will be controlling.
The City will reserve the right to: (i) waive non-substantive informalities of any bid or of
matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause,
and, (iii) reject any bid which the City determines to have failed to comply with the terms
herein.
REGISTRAR
The Registrar shall be First Trust Company of Saint Paul, Saint Paul, Minnesota.
CUSIP NUMBERS
If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds,
but neither the failure to print such numbers on any Bond nor any error with respect thereto will
constitute cause for failure or refusal by the Purchaser to accept delivery of.the Bonds. The
CUSiP Service Bureau charge for the 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 to the Purchaser at
a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt
by the Purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of
Saint Pau) and Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of
customary closing papers, including a no-litigation certificate. On the date of settlement
payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at
the offices of the City or its designee not later than (:00 P.M., Central Time of the day of
settlement. Except as compliance with the terms of payment for the Bonds shall have been
made impossible by action of 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 be furnished with a certificate signed by 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 date of settlement, contain any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.
OFFICIAL STATEMENT
Upon request to the City's Financial Advisor prior to the bid opening underwriters may obtain a
copy of the Official Statement. The Purchaser will be provided with 25 copies.
Dated S January 1984 BY ORDER OF TI-� CITY COUNCIL
/s/ Peter Hames
Director, Department of Finance and Management Services
. �Q�1►� �a�
Finance & Management pEPARTt�tENT V f'Y��j�' S� �
Gary Norstrem rONTACT .
292-7016 PHONE - � ~/�
December 28 1983 DATE �v�� �� '
�
(Routing and Explanation Sheet)
Assign Number for Routing Order (Clip All Locations for Mayoral Signature):
Department Direc r � '
� City Attorne [ �
9e /Mayor , Rt�.0 GD R�'rc����p �
Fi nance and Managemen Se ces _,��or r__ `� i983 D E C 3 0 1�83
, L!i:C,�
5 City Clerk :':�I" �-"` �� `�'�
� Budget Di rector ���I; � -- i983 �l�Y f�S F�'ICE D P�t�?TN�r T� ����T01� ;
� AND MAtW1�u;t�R�ryt S ANC@ .�
��f�����_c ���:""r`�i;c ��
What Will be Achieved by iaking Action on the Attached Materials? (Purpose/Ratio�ale):
1. Determines the amount of Bonds and Tax Anticipation Notes to be sold.
2. Sets the Date and Time of the Sale and defines the "Official Terms of the Offeriags".
3. Provides authority for the publication of the notice of sale.
4. Adopts the "Official Terms of the Offering" of the various issues.
Finarrcial , Budgetary and Personnel Impacts Mticipated:
The first year debt service for the Boad Issues has been considered and provided for.
The 8�ebt service for th� Tax Anticipation Issue will be a 1985 Budget Expenditure
aad iaterest earnings on imiestments will be the primary financing source.
Funding Source and Fund Activity Number Charged or Credited:
Attachments (List and N wnber all Attachmentsl:
CIB Bond Resolutioa - $ 8,110,000
WPA Bond Resolution - $ 3,590,000
Urban Reaewal Boad Resolution - $ 500,000
Tax Anticip�tion Notes Resolution - $17,390,000
DEPARTMENT REVIEW CITY ATTORNEY REVIEW /��
x Yes No Council ResolutiQn Required? Resolution�Required? x Yes No
Yes x No Insurance Required? Insurance Sufficient? � Yes No
Yes x No Insurance Attached? .
Revision of October, 1982
� (See Reverse Side for �Instructions)
�'�-/�
. . . .
OFFICIAL TERMS OF OFFERING
3590 000
� :
CITY OF SAINT PAUL, MIIWESOTA
GENERAL OBLIGATION WATER POLLUTION ABATENIENT BONDS, SERIES 1984
Sealed bids for the Bonds will be opened by Peter Hames, Director of Finance and Management
Services on Tuesday, January 31, 1984, at II:00 A.M., Central Time, at the offices of
SPR(NGSTED Incorporated, Financial Advisor to the City, 800 Osborn Building, Saint Paul,
Minnesota 55102, 612/222-4241. Consideration of the bids for award of the Bonds will be by the
City Council the same day at 12:00 Noon, Central Time.
DETAILS OF TI-E OBLIGATIONS
The Bonds will be dated March I, 1984 and will bear interest payable on March I and September
I of each year, commencing September I, 1984. The Bonds will be issued in integral multiples of
$5,000, and will be fully registered as io principal and interest.
The Bonds will mature March I in the amounts and years as follows:
$ 75,000 1985 $IS0,000 1993-1994 $225,000 1999 $300,000 2002
90,000 1986 $175,000 1995-1996 $250,000 2000 $325,000 2003
100,000 1987-1990 $200,000 1997-1998 $275,000 2001 $350,000 2004
125,000 1991-1992
The City may elect on March I, 1994, and on any interest payment date thereafter, to prepay
Bonds due on or after March I, 1995 at a price of par and accrued interest. Redemption may be
in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds
remaining unpaid which have the latest maturity date will be prepaid first. If only part of the
Bonds having a common maturity date are called for payment the specific Bonds to be prepaid
will be chosen by lot by the Registrar.
Principal will 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 payment date to the registered holder thereof at his address as �t appears on the books
of the Registrar as of the close of business on the I Sth day prior to the interest payment date or,
in the event such day is not a business day, on the last business day preceding the interest
payment date.
The Bonds will be general obligations of the City for which the City will pledge its f�ll faith and
credit and power to levy direct general ad valorem taxes. The proceeds will be used to construct
water pollution abatement facilities.
TYPE OF BID
A sealed bid for not less thar� $3,520,000 and accrued interest on the total principal amount of
the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also
prior to the time set for bid opening a certified or cashier's check in the amount of $35,000,
payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED
Incorporated, the City's Financial Advisor. No bid will be considered for which such 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 to comply with the accepted bid. No bid shall be withdrawn after
the time set for opening bids, unless the meeting of the City scheduled for consideration of the
bids is adjourned, recessed, or continued to another date without award of the Bonds having been
made. No rate for any maturity shall be more than 1.590 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 same maturity shall bear a single rate from the date of the Bonds to the
date of maturity.
_ , ' � - g����
� •
No bid may be conditioned upon award of any other offering of obligations by the City.
AWARD
The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined
by the deduction of the premium, if any, from, or the addition of any amount less than par, to,
the total dollar interest on the Bonds from their date to their final scheduled maturity. The
City's computation of the tota) net dollar interest cost of each bid, in accordance with
customary practice, will be controlling.
The City will reserve the right to: (i) waive non-substantive informalities of any bid or of
matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause,
and, (iii) reject any bid which the City determines to have failed to comply with the terms
herein.
REGISTRAR
The Registrar shall be First Trust Company of Saint Paul, Saint Paul, Minnesota.
CUSIP NUMBERS
If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds,
but neither the failure to print such numbers on any Bond nor any error with respect thereto will
constitute cause for failure or refusal by the Purchaser to accept delivery of.the Bonds. The
CUSIP Service Bureau charge for the 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 to the Purchaser at
a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt
by the Purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of
Saint Pau) and Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of
customary closing papers, including a no-litigation certificate. On the date of settiement
payment for the Bonds 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., Central Time of the day of
settlement. F�ccept as compliance with the terms of payment for the Bonds shall have been
made impossible by action of 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 be furnished with a certificate signed by 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 date of settlement, contain any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.
OFFICIAL STATEMENT
Upon request to the City's Financial Advisor prior to the bid opening underwriters may obtain a
copy of the 4fficial Statement. The Purchaser will be provided with 25 copies.
Dated S January 1984 BY ORDER OF TF� CITY COUNCIL
/s/ Peter Hames
Director, Department of Finance and Management Services
M'�•.YF - C�TY GLERK
^�RK I > FINANGE
_�4iNARV rDEPARTMENT GITY OF SAINT PAUL COl1flC1I ///y�,/♦ �J
B�CUE - MAVOR File NO. 'J • - /•
�
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the State Natural Resources Fund provides for the making of grants to
assist local public bodies in the development of outdoor recreation projects, and
WHEREAS, the City of Saint Paul desires to develop certain land known as Burns
Avenue Park, which land is to be held and used for permanent open space, and
WHEREAS, in order for the proposed project to be eligible for approval , there
must be proof that it is part of a comprehensive outdoor recreation plan and 5-year
action program (capital improvement) , and
WHEREAS, THE City of Saint Paul has a 5-year action program which includes
Burns Avenue Park, and
WHEREAS, it is estimated that the cost of developing said interest(s) shall
be $121 ,000.00, and
WHEREAS, upon project approval the City of Saint Paul must enter into formal
grant project agreements wi��h �the state for the specific purpose of developing
Burns Avenue Park.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAINT PAUL:
l . That an application be made to the State of Minnesota, Department of Energy
and Economic Development, Parks and Recreation Gran�s Unit for a grant
from the Natural Resource Fund (Minnesota Laws, 1983, Chap�er 301 , Section
31 , Subdivision 5, paragraph (b) for an amount presently estimated to
be $60,500.00 and the applicant will pay the balance of the cost from other
funds available �o i�.
� Pa e 1 of
COUNCILMEN Requested by Department of:
Yeas Fletcher Nays
C mmu ervice
"M$e��� [n Favor
NiCOSia
scne�bei __ Against BY
Tedesco
W iison
Form Approved by City Attorney
Adopted by Council: Date
Certified Passed by Council Secretary BY
By
t�pproved by 1�iavor: Date Approved by Mayor for Submission to Council
By BY