84-743 WHITE - CITV CLERK
PINK - FINANCE GITY OF SAINT PAUL Council
CANqRV - DEPARTMENT
BLUE - MAVOR File �0• � `���
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Council Resolution
Presented By .
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the Chicago, Milwaukee, St. Paul and Pacific Railroad
Company (hereinafter the Company) is the owner of taxable property located
in the City of Saint Paul, County of Ramsey, and
WHEREAS, the Company fiied a bankruptcy petition on December 19,
1977, seeking reorganization, and
WHEREAS, pursuant to order of the bankruptcy court, taxes due to
Ramsey County including special assessments levied by the City of Saint
Paul have been deferred and remain unpaid, and
WHEREAS, the bankru�tcy court izas autnorized the bankruptcy trustee
to settle the outstanding deferred taxes and special assessments and to
begin making future tax payments to those taxing authorities agreeing to
the settlement, and
' WHEREAS, the trustee has offered to settle the outstanding taxes and
special assessments payable before December 31, 1982 at 90� of the
original amount exclusive of any penalties or interest, and at 100� of
the original amount of any taxes or special assessments payable after
December 31, 1982, exclusive of any penalties or interest, and
WHEREAS, the settlement of these deferred taxes and assessments would
be in the best interest of the taxpayers of the City of Saint Paul,
NOW 1HEREFORE BE IT RESOLVED that the City of Saint Paul hereby
accepts the trustee' s offer of settlement, and
BE IT FURTHER RESOLVED, that the City of Saint Paul authorizes the
Chairman of the Ramsey County Board of Commissioners to execute the
necessary documents to effectuate this settlement.
.
COU[VC[LMEN Requeste Department of:
Yeas Nays �
Fletcher
°'°'"` In Favor
Masanz /
Nicosia '�� /
Scheibel _�___ Against By �v�
Tedesco ��—�
Wilson
Adopted by Council: Date JUN 7 � �9�� Form Approved by City Attorney
Gertified •se Counc' , cr By �� �� \ 5�-�l�Y
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Appr d by ;Vlavor. Uat �+�+��_o — 198� A rov by Mayor for Subm' i ouncil
PU811SHED J UN 16 1984
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Fin��ce � Management Ser��pAR��lt
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1'. William Donovan rnat ;'�(W S Q FICE
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g ��r : MAYQR'S OFFICE
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11 � T A wt �e A ls . �
The City will 'callect 90y'e of the back �sgesaments sgainst Chicago, :Milwaukee,
St. Paul and Pacific Railroad, �ayable before December 31, 1982, which have been
deferred by order of the Bankruptcy Court. __ �t� e , .- _
_ , . .
� At�t'iCi •
There ia $19,183.65 worth of assessments outstending. The City will receive 90'�
of .this a�ount or $17,265.29.
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P.�.R. . . �
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1. Resolution -
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