279887 h'HITE - CITY CLERK . ����-_I
PINK `- FINANCE G I TY OF SA I NT PAU L COUIICIl � �
�"i:ANARY - DEPARTMENT File NO.
BLUE - MAVOR
-� , Council Resolution
Presented By ���^.�.�+�� �
Referred To Committee: Date
Out of Committee By Date
WHEREAS, Chapter 475 provides that the governing body of
any municipality issuing general obligations shall, prior to
the delivery of the obligations, levy by resolution a direct
general ad valorem tax upon all taxable property in the
municipality, to be spread upon the tax rolls for each year of
the term of the obligations, and said law also provides that
the tax levies for all years shall be specified and such that
if collected in full they, together with estimated collections
of special assessments and other revenues pledged for the
payment of said obligations, will produce at least five percent
(5.00�) in excess of the amounts needed to meet when due the
principal and interest payments on the obligations, and said
law further provides that said resolution ahall create a
separate sinking fund for each issue of obligations, and shall
irrevocably appropriate the taxes so levied and any special
assessments or other revenues so pledged to that fund or
account;
NOW, THEREFORE, BE IT RESOLVED that for the purpose of
providing for the payment of the principal and interest upon
the $6,080,000 General Obligation Water Pollution Abatement
Bonds, Series 1983, issued and sold as authorized by Resolution
of this Council, Council File No. 279782, when and as the same
mature and for an additional direct tax in an ar�ount not less
than five percent (5.00�) in excess of the sum required to pay
such principal and interest when the same mature as required by
said Chapter 475, there is hereby levied on all of the taxable
property in the City of Saint Paul, in addition to all other
taxes, a tax for the payment of said bonds, the following
direct, annual irrevocable taxes, to-wit:
COUIVCILMEN Requested by Department of:
Yeas Nays
Fletcher
�mm� Galles In Favor
Masanz
NiCOSia
scneibel __ Against BY
Tedesco
Wilson
Form Approved by City Attorney
Adopted by Council: Date
Certified Yassed by Council Secretary BY
gy _
6lpproved by Mavor: Date Approved by Mayor for Submission to Council
By _ _ sY
_ 2'7988'7
Levy Year Levy Amount •
1983 $713,725
1984 698,762
1985 �710,050
1986 692, 594
1987 701, 387
1988 681,437
1989 687 ,737
1990 665,294
� . . 1991 670,281
. 1992 675, 531
1993 678,392
. 1994 678,497 .
1995 675,400
1996 695,560
1997 684,010
1998 695,901
1999 702,765
2000 704 , 550
2001 708,750
FURTHER RESOLVED that in the event any principal and
interest come due prior to the receipt of the proceeds of said
taxes, it shall be paid promptly, when due, out of the general
fund of the said City of Saint Paul, and reimbursement therefor
shall be made when said taxes shall have been received; and be
it
FURTHER RESOLVED that there s71a11 be created a separate
sin',cing fund, or a special account in the sinking fund, for
said obligations, and that the taxes received for the payment
thereof are hereby irrevocably appropriated_ to said account,
and that the City Clerk be and is hereby instructed to file in
the office of the County Auditor of Ramsey County a certified
cooy of this resolution, together with full information
regarding the bonds for which this tax is levied, and the City
Clerk is hereby ordered and directed to secure from the County
Auditor a certificate t'nat he has entered the obligations in
the tax register as required under the provisions of Chapter
475, t�iinnesota Statutes, and that the tax levy required for the
purpose has been made; and be it .
WH17E - GITV CLERK ��/�^/'\�
COUtICIl ��1�1
PINJ(, •- FINANCE G I TY OF SA I NT PAU L
�CANARV - DEPARTMENT
BLUE - MAVOR File NO. v"
� Council Resolution
Presented By "� �'� ���_'<f,
Referred To Committee: Date
Out of Committee By Date
FURTHER RESOLVED that before the said bonds shall be
delivered to the purchaser, the Council of the City of Saint
Paul shall obtain from the County Auditor and deliver to the
purchaser a certificate of the County Auditor that the issue
has been entered on his register and that a tax has been levied
as required by law, in accordance with the provisions of
Chapter 475; and be it
FURTHER RESOLVED that such taxes shall be collected, and
the payment thereof enforced at the same time and with and in
like manner as other taxes of the City of Saint Paul, and when
collected shall be used solely for paying the interest and
principal of said bonds when and as the same mature; and be it
FINALLY RESOLVED that in compliance with and for the
purpose specified by the pertinent provisions of said Chapter
475, said special sinking fund in the nature of a special
account in the regular Sinking Fund of the City of Saint Paul
hereby is created.
COUfVCILMEN
Yeas Nays Requ ted by Department of:
Fletcher �
�e�e Galles In Favor
Masanz
�lieeeie, �
scheibe� _ __ Against B
Tedesco
Wilson
FEB 2 4 1983 Form Appr by City A tor e
Adopted by Council: Date —
Certified P� -s d Council ret BY
By 2 OF /�Kc�
Flpproved �or: , Date - FEB 4 1983 Approved for Submis ion to Coun il
�
s ��� = '� � = ��� � BY �
y�
PUBLISHED MAR 51983 G
� � ' � / �7V� /
Finance and Management EPARTI•IENT '
�ervices - � easury
Sh�.rlev Davis �ONTACT
292-7038 PHONE � � ,
Februar 16 1983 DATE �v `�
Y �
(Routing and Explanation Sheet)
Assign Nurr�er for Routing Order (Clip All Locations for Mayoral Signature):
Department Director
City Attorney
3 Gire or of Management/Mayor
Finance and Management Services Director
s City Clerk
Budget Di rector
4 Councilman Scheibel
What Will be Achieved b . Takin Action on the Attached Materials? Pur ose/Rationale :
1. .0. Urban Renewal Bonds series 1983 $SO5,000
(�: .0. Water Pollution Abatement Bonds Series 1983 $6,080,000
�� G.O. Capital Improvement Bonds Series 1983 $5,370,000
The passage of the attached resolutions will set a tax levy on the bonds
sold and by copy of the Resolutions this levy will be certified to the
County Auditor.
Financial , Budgetary and Personnel Impacts Anticipated:
MSA 475 requires this action.
Funding Source and Fund Activity Number Charged or Credited:
Attachments (List and Number all Attachments) :
1. G.O. Urban Renewal Bonds Series 1983 - $505,000 Council Resolution`
2. G.O. Capital Improvement Bonds Series 1983 - $5,370,000 - Council Resolution✓ Y
3. G.O. Water Pollution Abatement Bonds Series 1983 - $6,080,000 - Council Resolution
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
x Yes No Council Resolution Required? Resolution Required? � Yes No
Yes No Insurance Required? Insurance Sufficient? � Yes No
Yes No Insurance Attached? .
Revision of October, 1982
(�ee Reverse Side for Instructions)