279421 WHITE - CITV CLERK ��y��1
PINK - FINANCE GITY OF SAINT PAUL COURCII
CANARV - DEPARTMENT
BLUE - MAYOR File NO•
�ity �Attny/JTH Co nci R sol 'on
Presented By � �'�`� t�y�
Referred To Committee: Date
Out of Committee By Date
WHEREAS, Section 10 .14 of the Saint Paul City Charter as
adopted by the voters on November 3, 1970, fixed the net debt
limit for the City at ten percent of adjusted market value as
fixed by the County Auditor, which Charter provision was in
conformity with Minnesota Statute (1955) Section 475 .53 Sub-
division 3 then in effect; and
WHEREAS, the adjusted market value, sometimes referred to
as the "full and true" valuation of property and determined at
one third of market value, was subsequently dropped by the
Legislature in favor of actual market value with mill rates and
percentage figures adjusted to one third of the former rate or
figure; and
WHEREAS, it is desireable to amend the first sentence of
Section 10 .14 of the City Charter by Section 1 of the attached
ordinance to employ market valuation and percentage of three
and one third in determining net debt limit, which amendatory
provision is in conformity with Minnesota Statute (1974) ,
Section 475.53, Subdivision 3 now in effect; and
WHEREAS, it is further desireable to amend the second sentence
of Section 10 .14 of the City Charter by Section 1 of said ordinance
to deduct current revenues applicable to current debt service,
including tax anticipation obligations, in conformity with the
definition of "net debt" contained in Minnesota Statutes (1971) ,
Section 475 .51 Subdivision 4, in calculating net debt; and
WHEREAS, the marketing of tax anticipation certificates would
be facilitated by allowing sale at discount within the limitations
of Minnesota Statutes (1974) , Section 475.56; and
COUNCILMEN
Yeas Nays Requested by Department of:
Fletcher
�ev�ne [n Favor
Mesanz
NiCOSia
scheibe� _ __ Against BY —
Tedesco
Wilson
Form Approve Cit�rn�ea�C%�
Adopted by Council: Date /Y
� r�
Certified Yassed by Council Secretary BY
By,
6lpproved by 17avor: Date _ App Mayor for Sub i i n to Council
BY - — BY
WHITE — CITV CLERK COURCII ��� jj11e�p�
PINK — FINANCE G I TY OF SA I NT PAU L
CANARV — DEPARTMENT
:LUE -� MAYOR File NO•
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
-2-
WHEREAS, it is desireable to amend City Charter Section 10 .16
to delete the sale at par provision thereof by Section 2 of the
attached ordinance, making Section 475.56 of Statutes controlling
through provision of Section 10 .13 of the City Charter; now
therefore, be it
RESOLVED, That the Council of the City of Saint Paul, upon
request by the Mayor, does hereby recommend that the Saint Paul
Charter Commission favorably consider amending Chapter 10 of the
Saint Paul City Charter pursuant to the provisions of the ordinance
attached hereto and containing the suggested amendments, so as to
permit the City Council by ordinance enactment to adopt such
charter amendment; and be it
FURTHER RESOLVED, That the Council of the City of Saint Paul
requests said Commission, after its review and consideration of
said charter amendments, to recommend said amendments to the City
Council pursuant to Minnesota Statutes Section 410 .12, Subdivision
7; and be it
FINALLY RESOLVED, That the City Clerk is directed to transmit
a copy of this resolution, with the attached ordinance draft, to
the Secretary of the Charter Commission.
COUNCILMEN
Yeas Nays Requested by Department oE:
Fletcher �
�ev�ne In Favor
Masanz �
Nicosia
scheibei _ __ Against BY —
Tedesco
Wilson
NOV � 19�� Form Approved by City At rney
Adopted by Council: Date
Certified P•; cil ret BY
By,
t�pp v y Mavoc Da � Ap r v d by Mayor for u 'ssi�to Council
By — BY
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�°�U���u� �IU�I � � i�u�
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. - � . November 2, 1982 �
_ ' . • .
; �� . OFFICE OF THE MAYOR 3a� c�ty Heu
GEORGE LATIMER � L� ���-�
; T�� Victor Tedesco �m: Peter G. Hal�tes, Director
; Council President Finance & Management Services
Subject: ATTACHED ORDINANCE/RESOLUTION Date:
October 22, 1982
Please call me in regards to signing the attached ordinance and
resolution by Tuesday.
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Thank you, �," :_ ' �,� ;
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