280941 WHiTE - C�TV CL.ERK COUIICII �• •�M��
PINK - FINANCE <
GANARV - DEPARTMENT G I TY OF SA I NT PAU L ��'�u^ ���� ��,':�'
BLUE - MAVOR F1Ie NO•
, � �
ncil Resolution
Presented By
Re To Committee: Date
Out of Committee By Date
WHEREAS, the City of St . Paul issued $18 ,650 ,000 in general
obligation bonds for the St. Paul Port Authority between 1961
and 1971 to acquire and clear blighted lands for the development
of industrial park, and
WHEREAS, City property taxes have been levied annually to pay for
all or part of the yearly general obligation debt service, and
WHEREAS, the Port Authority is cancelling the entire 1983 certified
levy for general obligation debt service , thus saving the 1984
city taxpayers $1,867,904 , and
WHEREAS, the Port Authority expects that its fiscal resources
will be sufficient to also cancel its 1984 levy for taxes, payable
in 1985, and
WHEREAS, the Port Authority has offered to contribute $170 ,000
in 1984 to expand the promotion of the city, with special focus
on increasing conventions and trade shows for the benefit of
the Civic Center Complex and the hotel, motel, restaurant, enter-
tainment industry, now, therefore
BE IT RESOLVED by the Council of the City of St. Paul, upon the
recommendation of the Nlayor, andonbehalf of the St . Paul taxpayers
that the financial support of the St . Paul Port Authority is recog-
nized and appreciated, and
BE IT ALSO RESOLVED that the Port Authority Commissioners and staff
be commended for their steadfast commitment to the development of
St. Paul' s commercial and industrial taxbase and city employment
opportunities without the continued use of property tax dollars.
COUNCILMEIV Requested by Department of:
Yeas Nays �
Fletcner
�eQ� [n Favor
Masanz
Nicosia
scneibei _ Against BY
Tedesco
Wilson
Adopted by Council: Date SEP 2 9 1983 Form Appro y City Att rn
CertiEied P s e Council Se et BY
gy, ,
l�ppro d y Nlavor: Da �CT � 1983 Approved b Mayor for Submis 'on to CG�
< <���'A^
By BY ��v
Pt���RS�►�Q �CT 81983