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84-229 M�N17E - CITV CLERK PINK � - FINANCE GITY OF SAINT PAUL Council CANARV �DEPARTMENT �n(,�n[ 9iUE' - MAVOR File �O. �_`//�� � ��JT� Council Resolution Presented By ��'���/'' Referred To Committee: Date Out of Committee By Date WHEREAS, 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 estima.ted 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 separate sinking fund for each issue of obligations, and shall irrevocably appropriate the taxes so levied ancl any special assessments or other revenues so pledged to that fund or account; NOW, TI�REFORE, BE IT RESOLVED that for the purpose of providing for the payment of the principal and interest upon the $3,590,000 General Obligation Water Pollution Abatement Bonds, Series 1984, issued and sold as authorized by Resolution of this Council, Council File No. 84-105 , �„ihen and as the same mature and for an additional direct tax in an amount not less than five percent (5.00�) in excess of the sum reguired to ps'�y such pr�ipaL �nd interest when the same mature as required by said Chapter 475, there is hereby levied on all of the taxable � property in the "City of Saint Paul, in addition to all other taxes, ,a tax for the �ayment of said__bonds, the following direct, annual«irrevocable taxes, to-wit: COU[VCILMEN Requested by Department of: Yeas Nays Fletcher °fe1nr In Favor Masanz . Nicosia scne�be� __ Against BY Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY By Approved by Mavor: Date Approved by Mayor for Submission to Council By _ BY � . � Gr d'�-a�5 Levy Year Le Amount 1983 $ 400,898* 1984 $ 409, 561 1985 $ 411 ,556 � 1986 $ 402, 106 - 1987 $ 392,656 _ 1988 $ 383,2Q6 �L., 1989 $ 400,006 1990 $ 390,162 - 1991 $ 406�240 1992 $ 393,640 � 1993 $ 407,133 1994 $ 392,065 1995 $ 402,972 1996 $ 385,122 1997 $ 393,312 1998 $ 399,008 1999 $ 402,158 2000 $ 402,710 2001 $ 400,610 2002 $ 398,279 *heretofore levied FURTHER R�SOLVFD that in the event any principal and interest come due prior to the receipt of the proceeds of said taxes, it shall be paid promptly, when due, out af the genera� fund of the said City of_ Saint Paul, and reimbursement therefo� shall be r.tade when said taxes shall have been received; and be it FURTHER RES4LVED that there shall b� created a separate sinking fund, or a special account in the sinY.ing fund, for said obligations, and that the taxes received for the payment thereof_ are hereby irrevocably appropriated to said account, and that the City Clerk be and is hereby instructed to file in the office of the County Auditor of Ramsey County a certified copy of this resolution, together with full information regarding the bonds for which this tax is levied, and the City Clerk is her�by ordered and directed to secure from the County Auditor a certificate that he has entered the obligations in the tax 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 WN17E - CI7V CLERK PINK - FINANGE GITY OF SAINT PAUL Council CANAf�' - DEPARTMENT /�A(�//�/�/y 9L.0 C• - M A Y O R File �0. � ��/,�^ / � � Council Resolution Presented By � ������� Referred To Committee: Date Out of Committee By Date FURTHER RESOLVED that before the said bonds shall be delivered to the purchaser, the Council of the City of Saint Paul shall obtain from the County Auditor and deliver to the purchaser a certificate of the County Auditor that the issue has been entered on his register and that a tax has been levied as required by law, in accordance with the provisions of Chapter 475 ; and be it 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, and when collected shall be used solely for paying the interest and principal of said bonds when and as the same mature; and be it FINALLY RESOLVED that in compliance with and for the purpose specified by the pertinent provisions of said Chapter 475, said special sinking fund in the nature of a special account in the regular Sinking Fund of the City of Saint Paul hereby is created. COUfVCILMEN Requested by Department of: Yeas Nays Fietcner Fin ce n Mana ment Services Drew In Favor Masanz Nicosia B scrietbe� o __ Against Tedesco Wilson Adopted by Council: Date FEB 21 1984 Form Approved b City Att rney s �� Certified assed b Cou .'1 Sec ary Y . � - • sy 6lpproved. iVlav : Dat _ FEB 2 3 �8� App d by Mayoc for S bm' sion to Council � By ` - BY � BLISHED MAR - 3 198� RU