84-1312 WHITE - CITV CLERK
PINK - FINANCE GITY OF SAINT PAITL Council
CANARV - DEPARTMENT
BLUE - MAVOR File NO. � - / /�
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Cou cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the City of Saint Paul issued $18,650,000 in general
obligation bonds for the Saint Paul Port Authority between 1961 and 1971
to acquire and clear blighted lands for the develognent of industrial
parks, and
WHEREAS, property taxes have been levied annually to pay for all
or part of their general obligation debt service, and
WHEREAS , the Port Authority is cancelling the entire 1984
certif ied levy for their general obligation debt service, thus saving the
1985 city taxpayers $1,867,112, and
WHEREAS, the Port Authority has committed to contribute at least
$396,000 thru 1986 to expand the promotion of the city, with special
focus on increasing connentions and trade shaws for the benefit of the
Civic Center Complex and the hotel, motel, restaurant, entertainment
industry, naa, therefore
B E IT RESOLVED by the Council of the City of Saint Paul, upon the
recommendation of the Mayor, and on behalf of the Saint Paul taxpayers
that the f inancial support of the Saint Paul Fort Authority is recognized
and appreciated, and
BE IT ALSO RESOLVED that the Port Authority Commissioners and
staff be commended for their ongoing commitment to the development of
Saint Paul ' s commercial and industrial taxbase and city employment
opportunities without f urther reliance on property tax financing.
COUNCILMElV Requested by Department of:
Yeas Nays A �y� �
Dr�ef 1=Ly`'itlrV � ///
Masanz
In Favor
Nicosia
scheibe� _ Against BY
Tedesco
Wilser►
SE� 2 7 �8�f Form Approved ity Attorney
Adopted by Council: Date n
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Certified Yas e ouncil Se ar BY
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Ap ove by Mavor: _� uC'T — 1 i984 Appr v M�or for Subm ssi n to ,6u c
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PusuS��p OCT 6 i984