84-716 WHITE - CITV CLERK
PINK - FINANCE G I TY OF SA I NT PA U L Council v/y
CANA`RV - DEDARTMENT File NO• ` � • l�
BLUE - MAYOR
�
. � . ouncil 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. 1899, 1911 and 1912 approved the issuance of
$25 ,000,000.00 short-term Energy Park Revenue Bonds to finance
construction in Energy Park; and
WHEREAS, the Council of the City of Saint Paul by the adop-
tion of Resolution C.F. 276900, adopted May 26 , 1981 , and
Resolu�Cion C.F. 277273 , adopted Rugust 13, 1981 and Resolution
C.F. 277571 , adopted October 13 , 1981 , did approve the issuance
of said $25,000, 000.00 in revenue bonds by the Port Authority
of the City of Saint Paul for construction within Energy Park;
and
WHERERS, the Council of the City of Saint Paul by Resolution
C .F. 281298 did approve refunding of the revenue bonds in lieu
of the previously issued short-term revenue bonds ; and
WHEREAS, pursuant to said authorization the Port Authority
issued refunding revenue bonds in the amount of $25 , 000 , 000.00
at a floating rate ; and
WHEREAS , the Authority is desirous of issuing fixed term
refunding revenue bonds in lieu of the revenue bonds issued at
a floating rate ; and
WHEREAS , additional approval of the issuance of such revenue
bonds is a condition of the Tax Equity Fiscal Responsibilities
Act (TEFRA) of 1982 ; now, therefore, be it
COUNC[LMEN Requested by Department of:
Yeas p�etcher Nays �
Drew In Favor
Masanz
Nicosia
Scheibel U __ Against BY
Tedesco
Wilson
Form Approved by City Attorney
Adopted by Council: Date ^
✓ � "�
Certified Yassed by Council Secretary BY
gl.
t#pproved by Ylavor: Date Approved by Mayor for Submission to Council
By By
�NHITE - CITV CIERK
PINK - FINANCE GITY OF SAINT PAUL Council
CAN�IRV- CfEPARTMENT x�"%
BLUE - MAVOR File NO.. U � �/�
�
_Co� ci Res.olution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED, that the Council of the City of Saint Paul con-
sents to the issuance of $25 ,000 , 000.00 in Industrial Development
Revenue Bonds by the Port Authority for the refunding of the
Energy Park Project, in the form of $25 ,000, 000.00 fixed rate
short term revenue bonds secured by a letter of credit, any
definitive revenue bonds not to exceed $25 , 000,000.00 required
to refund said short term bonds , and a bank note in the same
principal amount to evidence the obligation to pay any draw
made under the letter of credit.
COUNCILMEN Requested by Department of:
Yeas Nays �
Fletcher
o'B1N [n Favor
Masanz
IKaesi�
Scheibel D __ Against BY
Tedesco
Wilson
MAY 3 1 1984 Form Approved by City Attorney
Adopted by Council: Date
Certified as e b Council , et ��
gy,
/�ppr ve b 1�avor: Date ��l R — 1QR4 Approved by Mayor for Su on to Council
BY BY
PuBUS�EO JUN 16 1984 '