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279784 WHITE - CITV CLERK �9'784 PINK - FINANCE GITY OF SAINT PAITL Council CANARV - DE:jARTMENT BLUE - MAVOR , File NO. � \ y s, � ouncil Resolution Presented By �' �°�' Referred To Committee: Date Out of Committee By Date 10. The officers of the City are hereby authorized and directed to prepare and furnish to the purchaser of said Certificates, and to the attorneys approving the legality of the issuance thereof, certified copies of all proceedings and records of the City relating to said Certificates and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of said bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. COUNC[LMEN Yeas Nays Reqyested by Departme t o : � Fletcher X� Galles In Favor y��� Masanz Nicosia scheibe� _�__ Against BY Tedesco Wilson FE� 1 ��3 Form Approved by City Attorney Adopted by CounciL• Date — ' r �G2��� Certified P- .ed C u � Se et BY `�"'���'�'µ'V By � �, , pF�!'Jror Appr 'Vlavor: D FEB 2 1983 Approved for Sub ssion to C uricil � BY - – — BY i PUBEISHED F E B 12 1983 VMHITE - CITV CLERK �9,78� PINK - FINANCE G I TY OF SA I NT PAU L Council CANARV - DEPARTMENT File NO. BLUE - MAYa�j7 � ' . Co ncil Resolution Presented By -��d���'r"�� Referred To Committee: Date Out of Committee By Date WHEREAS: A. The Council has by Resolution No. 279687 adopted on January 13, 1983 and approved by the Mayor on January 14, 1983, authorized the issuance and sale of $22, 700,000 General Obligation Tax Anticipation Certificates of Indebtedness of 1983, to be dated February 23, 1983; B. The appropriate City Officers have, pursuant to said resolution, caused proper published notice ot the sale of the Certificates to be given as required by law, and sealed bids as set forth in Exhibit A attached hereto, pursuant to the Official Terms of offering were received at 11:00 o'clock A.M. , Central Time, on Tuesday, February 1, 1983, by Peter Hames, Director, Department of Finance and Management Services, at Room 234 City Hall, St. Paul, Minnesota; and C. The Director, Department of Finance and Management Services has advised the Council that the bid of Morgan Guaranty Trust Company of New York was found to be the most advantageous and has recommended that said bid be accepted. NOW, THEREFORE, BE IT RESOLVED THAT: 1. The bid of Morgan Guaranty Trust Company of New York to purchase $22,700,000 General Obligation Tax Anticipation Certificates of Indebtedness of 1983 of the City in accordance with the Official Terms of Offering at the rate of interest COU[VC[LMEN Yeas Nays Requested by Department of: Fletcher ��X In Favor Masanz Nicosia Scheibel _ __ Against BY Tedesco Wilson Form Approv��i�Atto� Adopted by Council: Date .o1L, Certified Yassed by Council Secretary BY By f�lpproved by ;Vlavor: Date _ Approved by Mayor for Submission to Council BY - – — BY . .. 2'79'784 hereinafter set forth and to pay, therefore, $22, 700,000 plus a premium of $ 9,110.00 is hereby found, determined and declared to be the most �avora'r�le bid received and is hereby accepted and said Certificates are hereby awarded to said bidder. 2. The Director, Finance and Management Services is - directed to retain the debosit ot said bidder and to forthwith return the good faith dnecks or drafts to the unsuccessful bidders. 3. The $22, 700,000 negotiable general obliga�ion Certificates of the City shall be dated r^ebruary 23, 1983, and shall be issued forthwith. All of said CertiFicates shall mature without option of prepayment on February 23, 1984. Said Certi:Eicates shall be 4540 in number and number�d from 1 to 4540 , 'both inclusive, in the denominations set forth below, to wi s � Dollar 'amount Serial Interest of �interest per Number Rate Denomination Certificate 1-4540 5.25% $5,000 $262.50 All of said Certificates sh�ll bear interest from the date of issue to their maturity, at the rate above specified which interest is payable at maturity on February 23, 1984 upon presentation and surrender of the Certificates. 4. Said Certificates and the interest thereon are payable at Chemical Bank, New York, New York or any successor paying agent duly appointed by the City. � �. , 2'"19`78� 5. The Certi:Eicates shall be in substantially the following form which has been approved by the City Attorney of the City of Saint Paul, and is hereby approved and ad�pted: UNI`rED STATES OF ANiERICA ������ STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF SAINT PAUL No. $ - GENERAL OBLIGATION TAX ANTICIPATION CERTIFICA'rE OF INDEBTEDNESS OF 1.983 ICL�TTOW ALL MELJ BY THESE PRESENTS that the City of Saint Paul in the County of Ramsey and State of Minnesota FOR VALUE RECEIV�D, hereby acknowledges itself to be indebted and promises to pay to bearer, without option of prepayment, the principal sum of . THOUSAND DOLLARS on the twenty-third day of February, 1984 and to pay interest thereon from the date hereof until the princinal is paid at the rate of percent ( $) per annum, payable on the twenty-third day of February, 1984, both principal and interest being payable upon presentation and surrender of this Certi£icate at maturity. The total dollar - __�nount of interest payable hereon at maturity is Dollars ($ ) . Both principal and interest are payable at Chemical Bank, New York, New York or any successor paying agent duly appointed by the City, in any coin or currency of the United States ot America whicn at the time of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest, the full faith and credit of the City have been and are hereby irrevocably pledged. This Certificate is one of an issue in the tatal princigal amount of $22, 700,000, all of like date and tenor _ except serial number and denomination, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and Section 10.16 of t'ne ;,'harter of the �ity thereunto enabling, and pursuant to resolutions duly adopted by the City Council of said City, for the purpose of anta.cipating the receipt of general taxes heretofore levied by the City for City purooses. The aggregat� amount borrowed for t'nis purpose does not exceed the limitata.ons prescribed by law. . � 2'79'7�� IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to exist, to happen and to be performed precedent to and in the issuance of this Cextificate in order to make it a valid and binding -general obligation of the City do exist, have happened and have been performed in regular and due form, time and manner as so required, that the receipt of said taxes and other City funds which may hecome available will be applied to the extent necessary to repay this Certifirate, with interest thereon, but all of the taxable property within the City limits is subject to the levy of a tax for t'his purDOSe, wit'nout limitation of rate or amount; and that the - issuance of this Certificate does not cause the indebtedness of the City to exceed any constitutional, stat.utory or Charter -'� limitation. IN WITNESS WHEREOF, the sai3 Cit�r o£ Saint Paul, Rams�y County, Minnesota, by its Council, has caused this Certificate to be sealed with the facsimile of its Official � Seal, to be signed by the facsimile signature of its Mayor, attested by the facsimile signature of its City Clerk, and countersigned by the f�csimils signature of its Director, Department of Finance and Management Services, and executed by the manual signature of an authorized signatory of The First National Bank o.f Saint Paul, duly designated by the Council as authenticating agent, all as of the twenty-third day o£ Feb�uary, 1983. (facsimile) George Latimer Mayor Atteste (facsimile) Albert B. Olson City Clerk (SEAL} Countersigned: (facsimile) Peter Hames Director, Denaztment o Finance and Management Services THE FIRST NATIONAL BANK OF SAINT PAUL By: Authorized Signatory �� . 2►� • ����. 6. Said Certificates shall be executed by the facsimile of the official seal of the City of Saint Pau1 and signed by the facsimile signature of the Mayor, attested by the facsimile signature of the City Clerk and countersigned by the facsimile signature of its Direetor, Department of Finance and Management Services, and executed by the manual signature of an authorized signatary of The First Nationa]. Bank of Saint Paul, in St. Paul, Minnesota which is 'nereby design�ted authen- ticating agent. The Certificates shall nat be valid or become - . obligatory for any purpose until manually executed by an authorized signatory of the authenticating agent. 7. The said Certi.ficates when so prepared and ,..• _ executed shall be delivered by the Director, Department of � � Finance and Management Services to the purc'naser thereo� upon receipt of the purchase price. The money so received shall be disbursed solely for the �urposes for which the taxes in anticip3tion of whicn said Certificates were issued are receivable. The purchaser, however, shall not be obliged to see to the proper application of said moneys. Any premium and accrued interest received upon delivery of the Certificates shall be deposited with the Escrow Agent to be used to pay the interest on the Certificates and said sums together with interest zarned thereon while in the Escrow shall be used to reduce the amount of taxes otherwise required to be paid over to the Escrow Agent. 8. Said Certi_ficates and the interest thereon will be paid by the City from the receipt of the taxes which will become available and will be escrowed for said purpose as � provided for in the resolution calling for the sale of said Certi�icates and in the Escrow Agreement on or beiore the date of maturity of said Certificates, together with such other City funds �ahich become available for said purpose, and aIl of the taxable property within the limits of the City is subject to the levy of an ad valorem tax without limit as to rate or amount to pay the Certificates of this issue and the interest thereon. The full faith and credit of the City is hereby - pledged for the payment of principal and interest on said Certificates. 9. The Director, Department of Finance and Management Services is hereby directed to file a certified copy of this resolution with the �ounty Auditor of Ramsey County, :�Iinnesota, together with such other information as he shall require, and to obtain from said Auditor his certificate that said Certificates have 'neen entered in the said Auditor's Bond Register.