84-709 WHITE - CITV CLERK
PINK - FINANCE G I TY OF SA I NT PAU L Council
CANARV - DEPARTMENT AG 7
BLUE - MAVOR File NO. v I � �
1
� - �cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the Port Authority of the City of Saint Paul by
Resolution Nos. 1957, 1970 and 1986 approved the issuance of
$2,000,000 in revenue bonds for the construction of one floor
of the Amhoist Tower on behalf of T & H Enterprises; and
WHEREAS , the Council of the City of Saint Paul by Resolution
C .F. 277915 , adopted January 7 , 1982, approved the issuance of
said bonds and any necessary refundings thereto; and
WHEREAS , T & H Enterprises has defaulted on its lease and
revenue agreement with the Authority and has surrendered
possession of the project premises to the Authority; and
WHEREAS, the Authority is desirous of issuing refunding
bonds in order to reduce the debt service payments necessary;
and
WHEREAS, additional approval of the issuance of such refund-
ing bonds is a condition of the Tax Equity Fiscal Responsibilities
Act (TEFRA) of 1982 ; now, therefore, be it
RESOLVED, that the Council of the City of Saint Paul consents
to the issuance of $2,000,000 in industrial development revenue
bonds for the refunding of the T & H Enterprises Project.
COUfVCILMEN Requested by Department of:
Yeas Nays �
Fletcher
°reN' In Favor
Masanz
—Idi�+sie �
sche�be� __ Against BY
Tedesco
Wilson
MAY 3 1 198� Form Approved by City Attorney
Adopted by Council: Date � .�
�
Certified Y s Council ecr B
By
v d by ;Vlavor. D t .� N 6 ' �98� Approved by Mayor for Submissio ouncil
By
PU�BEtS�D JUN� 16 1984 �