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278171 WMITE - CITY CLERK PINK � - FINANCE [l //rryy CANARY - DEPARTMENT COUt1C11 , }��' /�� e�uE , -_ MAYOR G I T Y O F S A I N T PA U L File N O. �'' " �� d . , � � Council 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. COUIVC[LMEN Requestgd by Department of: Yeas Nays J ' Hunt q ., ��� UjC,�d Levine In Favor Medr�+r� McMahon �_ A ainst BY v Showalter - g Tedesco Wiison F E B Lr ��Z Form Appro y City Attorney Adopted by Council: Date — Certifie assed by C .il .��c,reta�y BY � ;. � Bi' -- �. A rov ;Navor: D � FFR ��A' Ap o by Mayor,f S mission to Councii B UBUStiED Ftn 13 19�2 WHITE - CITY CLERK ��j!''�!y' PINK ♦- FINANCE /.;�/��� CANARY - DEPARTMENT COUt1C1I r� v BLUE - MAYOR GITY OF SAINT PAUL � � File N 0. - � ou cil Resolution Presented By Referred To Committee: Date Out of Committee By Date WHEREAS: A. The Council has by Resolution No. 277993 adopted on January 12, 1982 and approved by the Mayor on January 14, 1982, authorized the issuance and sale of $25,800,000 General Obligation Tax Anticipation Certificates of Indebtedness of 1982, to be dated February 23, 1982; B. The appropriate City Officers have, pursuant to said resolution, caused proper published notice of 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 2, 1982, by Gary Norstrem, City Treasurer, at Room 234 City Hall, St. Paul, Minnesota; and C. The City Treasurer has advised the Council that the bid of BancNorthwest, Chicago 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 Ban��Vorthwest_ (Chicago) to purchase $25,800,000 General Obligation Tax Anticipation Certificates of Indebtedness of 1982 of the City in accordance with the Official Terms of Offering at the rate of interest COUIVCILMEN Requestgd by Department of: Yeas Nays Hunt Levine In Favor Maddox McMahon B Showalter - __ Agalilst Y - Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date _ Certified Passed by Council Secretary BY By� _ Approved by Mavor: Date _ Appr by Mayor for Su is od`to Council BY - – — B � -2- pC / �� / / hereinafter set forth and to pay, therefore, $25,800,000 plus a premium of $ 1 ,806. 00 is hereby found, determined and declared to be the most favorable bid received and is hereby accepted and said Certificates are hereby awarded to said bidder. 2. The City Treasurer is directed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the unsuccessful bidders. 3. The $25,800 ,000 negotiable general obligation Certificates of the City shall be dated February 23 , 1982 , and shall be issued forthwith. All of said Certificates shall mature without option of prepayment on February 23 , 1983. Said Certificates shall be 2780 in number and numbered from 1 to 2780 , both inclusive, in the denominations set forth below, to wit: r , Dollar amount Serial Interest of'interest "per �' Number Rate Denomination Certificate 1 - 400 8 . 50 $5,000 $425. 00 401 - 2780 8. 50 $10 ,000 $850. 00 All of said Certificates shall bear interest from the date of issue to their maturity, at the rate above specified which interest is payable at maturity on February 23 , 1983 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 or agents duly appointed by the City. . • � . -3- �t��l.���� 5. The Certificates 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 adopted: UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF SAINT PAUL No. $ GENERAL OBLIGATION TAX ANTICIPATION CERTIFICATE OF INDEBTEDNESS OF 1982 KNOW ALL MEN BY THESE PRESENTS that the City of Saint PauT in the County of Ramsey and State of Minnesota FOR VALUE RECEIVED, 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, 1983 and to pay interest thereon from the date hereof until the principal is paid at the rate of percent ( �) per annum, payable on the twenty-third day of February, 1983, both principal and interest being payable upon presentation and surrender of this Certificate at maturity. The total dollar amount 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 of America which 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 total principal amount of $25,800,000, 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 the Charter of the City thereunto enabling, and pursuant to resolutions duly adopted by the City Council of said City, for the purpose of anticipating the receipt of general taxes heretofore levied by the City for City purposes. The aggregate amount borrowed for this purpose does not exceed the limitations prescribed by law. . � �7g � � � -�- IT IS HEItFI�� C�r:TIr IED AND �tECITEi) tnat all acts, conditions and things required ay the Constitution and laws of the State of MinnPSOta to exist, tv hap;�en and to be g�rformed precedent to and in the is�uan�e of t�tiis Certificat� in order to make it a va�id and bin3ing gen�ral. obliga-cion of the Cii:y do exist, have happened and have been perforrn�d in reyular and due form, time and manner as so required, that the receipt of said taxes and other City funds which may become available will be applied to the extent n��essary to repay this Certificate, � with interest thereon, but all of the taxable property wi�hin the City limits is subject to the levy of a tax for t�ii.s purpase, without limitation of rate or amount; and that the issuance uf this CertificaL-e does riot cause the indebtedness of the City to exceed any constitutional, s�.atutory or Charter limitation. IN WITNES� WHEREOF, the said City of Saint Paul, Rarnsey County, Minnesota, by its Council, has caused this Certificate to be sealed with the facsimile of its Of.�i,cial Sea?, to be signed by the fac�imil� si.gr�zature of its Mayos:, attested by the facsirnile signature of its City Glerk, an3 countersigned by the facsirnile sa.gnature of its Dir�ctor, Department of Financ� ar�c' Management Services, and executed by the manual sign�tur.e of azz auth�rized signatory of The First Natianal Bank of Saint Paul, duly designa�.�d 'ay the Couricil as aufi.henticating agent, al]. as of the twenty-third day of February, I982 . (facsimzle) Georqe Latim�r Ma�►or Attest: (facsimile) Albert B. Olson City Cler ��E�� Coi.�ntersigned: (facsimiie) Peter Hames T_� ---,---_.._�.._�..� D�_.r�.ctor, llepartmen o Finance and Mana�emenf. Services THE FIRST N�.TIONAL BANK OF S11INT PAUL B��Authorized Signatory a ��� � �, --5- 6. Said Ce�'ci:Eir�t.�:ti• Shall. k�� executed by the facsimile of the official seal of -�he City of Saint Paul and szyned by the facsimi?� signature of the Mayor, attested by the facsimile signature ��f the City Clerk and countersigned by the facsimile signature o.f its Director, Department of Finance a�id Management Services, and e�cecuted by the manual signature of an authorized signatory of Tha First National Bank ot 5aint Paul, in St. Paul, Minnesota which is hereby designated authen- ticating agent. The Certificates shall not be valid or beco.:ne _ obligatory for any purpose until manually executed by an authorized signatory of the authenticating agent. 7. The said Certificates when so prepared and executed shall be delivered by the Director, Department of Fin�nce and Management Services to the purchaser thereof upon receipt of the purchase price. The money so received shall be disbursed solely for the pu.rposes for which the taxes in anticipatian of which said Certificates were issued are receival�le. TYce purchaser, however, shal,l 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 in�terest earned thereon while in the Escrow shall be USSCI ta reduce the amount of taxes otherwise required to be paid ove-r ta the Escrow Agent. 8. Said Certificates and the interest thereon wi.l� 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 th� resolution calling for the sa.le of said Certificates (and in the Escrow Agreernent) on or before the date of maturity of said Certificates, toget'ner with such other City funds which become available for said purpose, and al1 of the taxable property within the lim_its of the Ci.ty is subject to the levy of an ad valorem tax without limit �s to rate or amount to pay the Certificates of this issue arir_1 the interest thereon. The full faith and credit of the City is her.eby pledged for the payment o:E principal and interest on said Certificate�. 9. The Director, Department oi Finance and ►'danag�ment Servic�s is 2�ereby directed to fil.e a cw_r�ifii�d cop;� of this resolution with the Co�.znty Auditor of ha;nsey Co�.znty, Minnesota, together with sucYi other info.zmation as he shall require, and to obtain fro�n said Auditor his certifiicate that said Certificates have been entered in the said Auditor' s Bond Register.