278283 WHITE - CITY CLERK A�.y['��[��
PIN;'� .. - FINANCE �J K K
� CANARY - DEPARTMENT G I TY O F SA I NT ��U L COUIICII � v `�
BLUE - MAYOR -
�„ , File N
- ouncil Resolution
Presented By
Referred Committee: Date
Out of Committee By Date
WHEREAS, Chapter 475 provides that the governing body of
any municipality is.suing 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 shall 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 $7,320,000 General Obligation Capital Improvement Bonds,
Series 1982, issued and sold as authorized by Resolution of
this Council, Council File No. 278169 , when and as the same
mature and for an additional direct tax in an amount not less
than five percent (5.00�) in excess of the sum required to pay
such principal and interest when the same mature, there is
hereby levied on all of the taxable property in the City of
Saint Paul, in addition to all other taxes, the following
direct, annual irrevocable taxes, to-wit:
COUfVCILMEN Requestgd by Department of:
Yeas Nays
Hunt
Levine In Favor
Maddox
McMahon B
snoWaiter - __ Against Y
Tedesco
Wilson
Form Approved by City Attorney
Adopted by Council: Date —
Certified Passed by Council Secretary BY
By —_
Approved by Mavor. Date _ Approved by Mayor for Submission to Council
BY - – — By
, • Page 2. ���Q�
l.1
� LevY Year Levy �mour.t
198?_ $1,336,h11
1983 $1,334,301
1984 $1,346,639
1985 $1,353,726
1986 $1,358,635
1987 $1, 353,385
1988 $1, 337,963
1989 $1,338, 225
1990 $1,350,957
FURTHER RESOLVED that there has heretofore 'c�een levied in
the year 1981 taxes in the amount of $790,611 (which includes
an amount 5$ in excess of the sum necessary therefore) to
provide for the payment of interest on said bonds in �he year
1982 and a portion of 1983 which taxes will be recei.ved in the
year 1982.
FURTHER RESOLVED that in the event any principal and
interest come due pri.�r to the receipt of the proceeds of said
taxes, it shall be paid promptly, when due, out of the gen�ral
fund of the said City of Saint Paul, and reimbursement theref�r
shall be made when said taxes sna11 have been received; and be
it •
FURTHER RESOLVEU that there shall he created a separate
sinking fund, or a special account in the City Sinicing Fund,
for said obligations, and that the taxes received for the
payrne.lt thereof are hereby irrevocably appropriated to said
account, and that the City Clerk be and is hereby instruct�d to
file in the office of the County Auditor of Ramsey Caunty a
certified copy of this Resolution, together with fu1Z
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 certifieate that he has entered the : :
abligations in the tax register as requir�d under t'ne
provisions of Chapter 475, Minnesota Statutes, and that the tax
levy required for the purpose has been made; and be it
FURTFiER RESOLVFD that such taYes sha].1 be collecte�, and
the payment thereof_ enforced at the same time an� with and in
like manner as other taxes of the City of Saint Paul, and w��en
co���ci.ca :�:iaii be u�Ed soi2iy =or payir:� tne ir�'�ere::L �nd
principal. of sai� bonds when and as �.he same mature; and be it
WMITE - CITY CLERK �8283
.,.-PI,T1K ' - FINANCE �T COURCII
CANARIf - DEPARTMENT G I T Y O F S A I N T �� ll L
BLUE� ^ MAYOR File N O.
` Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
Page 3.
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.
COUNCILMEN Requestgd by Department of:
Yeas Nays •
H-��+� � [n Favor Nl?N"`x2' 4r �"� rvrc�'=
Maddox � �
McMahon
Showalter - � __ Against BY
rredeeee�
Wilson FEB 1 g
i982 Form Approved by City Attorney
Adopted by Council: Date —
Certified P•;_e by Council c y BY �
�
B3'
i • C 1 9 1982 App y Mayor for S iss on to Council
App e hy 14ayor. t — -
�
,
BY e —
' �UBLISHED F E B 2 7 1982 y
, � .. .
= ., � `t}� ��.: i�2,�I���� ����_�� ;
� �. � �
� ��tev. : 9/8�76�� ��� � �,
Rev. : 5�f71`�p
' ' EXPLANATION OF ADMINI�TR?�TTVE: 4RDEFt�, P.�v. : $j3��83.
.- . � RESOLUT3:O1�S AL'vD ORDIPd��RCES � 1�'�Q ' :
- . �/�.?���
Date•: F`, �x��► �2, i�a2 _ ����EIV�'� � _`� � ';
- _ . � r
F�B 17 �z � - '
. . . . ,
:TOs Ma�e►r C+�arge L+�tim+er fl�p�QR�QFFIC�
FRnM:. �+t� 'k.• li�x��rem, Dept. o# Finance �-Mg�t. S�rvices ~~�� �
, ;g��� - .
;. , .
',' g�,a;' �W� Ct3tJiTCIL �`�LIITI0�1$ P80VYDI1� FO�. A TAX L�Y OK THE 1'�82;�&�A1� �Wt� ;` , . , ,:
,A� CIB,BO�ID ISSUE3: : ;
�iCTIt?N �t]3Q�JESTED s . _ _
� �
��a. �sssage af tt� ,�ttached resolutioas wi11 $et d tsx levy on the _Bonda
iw'►Id. Ead by.e��y of tt�e 8esolutiona thia levy will b+e ce�r`��;�it�d fi�► Ch+a
�nty Auditor,
PU�tPX}SE: At+dD RATIO�J�iLE FOR THIS ACTION: . �
`, ;NSA 475 requires thfs actiaa. � ' ; ,
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- �ilosrd fpr !l.lfag in.your oftice fs a c�C�lied dopy cf C.B. Na. .+$7@283:
` ' �'his r�olu�t�cn, appraving a tas i�vy rela�ticFg ta 6as►era� 8b1�l�gaticn :
Capital �pro�raament Be�ads, Sarie�a 1982, �� adoptad by tha St. Paul G#ty
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