276783 WHITE - CITY CLERK /� �7 b / 8�J �
PINK - FINANCE � COUi1C1I
CANARY - DEPARTMENT � G I T Y O F S A I N T PA U L �
BLUE - MAYOR File N O.
Council Resolution
Presented By /
Referred To Committee: Date
Out of Committee By Date
RESOLVED, that upon recommendation of the Mayor and pursuant to
Section 10. 07. 4 of the Charter of the City of Saint Paul, there is
hereby transferred the following in the 1981 Budget:
From: General Government Accounts
Contingent Reserve General
Transfer to Budget Fund
09060-536-000 $31 ,648
City Hall & Court House Maintenance
Other Miscellaneous Services
09170-299-000 2 ,470
$34 ,118 '
To: General Government Accounts
Municipal Memberships
09125-255-000 $34,118
Approved, as to funding: Approved:
.
Director dget Dir ctor
Departmen f F�ce
�� �`/,v�s,
COUNCILMEN
Yeas Nays Requestgd by Department of:
Hunt
Levine [n Favor
Maddox
McMahon r,/ B
snowa�ter `�" __ Against Y —
Tedesco ,
Wilson
MQ�TQ�� Form Approved b C' y t rne
Adopted by Council: Date �
Certified a�sed by oun � Se tar BY �
By � j�� r
Approv :Vl or: Dat Ap b Mayor for m ssi to Council
BY - — BY
�t�suSt��� MAY ].6 �981_
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�ieague ofi minnesota ci�i�s � �� �
January 23, 1981 � • . . : � �
T0: Mayors, Managers and Clerks `
FROM: Donald Slater, Executive Director �
RE: League Building Progress Report
The 1980 League Convention meeting in Duluth unanimously directed that the Lea ue '
to build its own headquarters building in St. Paul . Since then, Minnesota cit�i�'c�s }��Yeeed ;
been cons�dering �he question of i�ow to finance �he �c�nstrucf:io« c�f a p�r�nanent hame fur
the League. Th� League Board of pirectors, af�Cer revi�wi��g t�he ►-�es�o��ses f�-�c�m r.itics '
throughout the sta�e, concluded that there w�s a broad I��s� of financial suppar-t: �'Gr� j
construction o�F the proposed praject and voted unanimously tc� pt°oceed with th� pro,ject. �
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n considering the financing plan for the Lea�ue constr�«�tion pr�o,iects �he �oai~d macie
seve►�al adjustments. These changes were necessitated by virtue of the fact that the �''
cost of borrowing money -- interest rates -- have gone up considerably after the initial '�
calculation of the project costs and also because of a mor-e defzned c�nstructi�n pdc:{:ac��.
7he Qoard accepted the commitm�nts of�cities who selected the single payment aption -- '
one-time, lump sum payment -- the five and ten year paymen� schedules as wel� , Twer:4y �I
year payment schedules, however, wi11 not be possible. At the t�me af the regiona�
buiading financin� survey, the proposed financ�ng plan c�i�i:emplated � 2p�year �i�yr,7er,t
option. Further° r�f�nement of the overall costs of �h� pr�ajects but {�articula�°ly r�e--
calculation of the projected interest costs from the regiGnally anticipated � 3/�% �a
a more realistic level of over 10%, made it f�rz�n��a11y impc�s�ible �p Gff�r- t�he 20-year
payment op�ione
The Soard of Directors cancluded that thas� whn had seleci:�� f.hc: 2G--yetr api:i�in dcsi�-cc�
to pay over the longest time available and, �here�ore, ma�re� i.i�asc� citics t� the terr
year option. Those cities who did not respond to th� finan�ing survey, will be tr�a ted
as paying over the ten year period as welle �� . .
6iven the present design, bid, and construetion schedul�, �nvuir.es wil� Ei� iiiail�ci f:a
each member c�ty in February for their shar� �f •�h� proje�l;, Th� fir•s�. �;�,L�����t: �y��y
be due July 1, 1981. .
Recapping th� Board's decisians:
1. As a resuit of the member ci�y's un��imous r1DpY'pYd� a� f:tic� �ju��c� canvc+iif:iGCts t.hc+ t_e�c�ue
has been proceeding with the building projec� and �onsti�uction will t�ec�ir� ea'rl,y during
1981 for occupancy in early 1982. %
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2. Cities who commi�ted themselves to on���in��� ��a,y��n�f fivc-yc�tr �?�,�nn�#�,�;, �;��� i:en_ye�:�t
paymen� will b� billed on that basis.
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(OV�R). .
300 hanover building, 460 cedar street, saint pau1, innesota 55101 t612) 222-2861
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3. Cities preferr�ng twenty-year payment wi7� be moved to a ter�-year payment sc�-rer;ule,
unless they inform the League office that they prefer the ane�time �ayment plart or
the f�ve-year plan.
4.. Cities not responding ta the financing survey wi11 be bilTed on a t�n-year� schedule
unless they select the one-time or five-year p1an.
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OM Ol: 22/1975
..� �'' . � Rev.. : 9/8/76
Rev. : S/? 80
EXPLANATION OF ADMINISTRATIVE ORDERS, � /Y�.� �C ,zC��/_�f
RESOLUTIONS AND ORDIIJANCES
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Date: April `I.S, 1981 : i���'��� ,
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� TO: Mayor George-Latimer ���
FROM: stichard Schroeder
�; Resolution transFerring funds in the 1981 budget '
ACTION REQUESTEDz
�� Approval of attached resolution '
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�PURPOSE AND RATIONALE FOR THIS ACTION:
I According to infor�ation from the League of rginnesota Cities, Saint Pau3's
ahare of the financing of the League' s new building can be�paid by using ane " -
of three methods: : ; $35,400 cash; 5 annual payr.ients of $9,339 for a total of _
.$46,6y5; or l0 annual payments of $5,763 for a total of $57;630. . The cash
payment, as well as the first installment payment in the other twa' methods,
:.is due on J�aly 1, �981. If an..interest rate of I0$ is assumed, the pr.esent
v�alue of the five-year plan is $38,942, and the present value of the ten-year
plan is $�38,952. Under these conditions, it appears to be in the city's best
interest to make the lump sum payment of $35,400. �.
� The total amount of $35,400 would be paid from the following sourees.�:��� -
,�,,. _ _
Transfer from contingent reserve $31,648��
Transfer from City Hall & Court House maintenance 2,470
�ub-Total (amount shown on resolution) 34,118
Balance remaining in city membership account 1,282
TOTAL $35,40U
The $2,470 being transferred from the City Hall and Court House m.aintenance
appropri4tion became available when the county reduced the `total appropriatian
for that account by $7,058 through the elimination of overtime costs. The
city' s share of that reduction is 35� of $7,058, or $2,470.
ATTACHiuENTS: . .
Council Resolution � � �
-- - - Letter from League of Minnesota Cities _ �
__•_s:z`� GI��C �� �.fa.X?�r�' �:.��.�� �
��l�r��.l1;��1,;. ����''Zvr �.''.�� 1°��.�: t'i�r�� Ci�'1�1G'�� p� �Ilz •� �
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`-�� Da t e ; Apri 1 30, 1981
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Gt� ��� �l � � ��� � � � t�' � �i � .
�' p : �ain� Pc�u� Cifi� �������� . . .,.
�� Q �r� � CCti1 ti���'�':' 9I1 FINANCE, MANAGEMENT AND PERSONNEL . �
George. McMahon ; et�aifnari, ��a�es fihe �oito�,i�ing �
� r'eport r;►r �C.F. � Ordir�azic�
� . (8) �J Resc�lu�ion � '
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At its meetinc� of Apri1 30, 1981 , the Finance Corrennittee recommended approval of
the following: - " � �
1 . � Resolution approvino collateral pledged by Exchange State Bank to pratect .
city funds held in bank. (11909-McM)
2. Resolution establishing title and class specification for Health Analyst.
(11895-GM) . . � � .
3. Resolution ��ransferring $16,000 from.Contingent Reserve General to General
� Government Accounts--Urban Corps. � '
4. Resolution amending 1953 and 1979 Capital Improvement Budgets �or the Harriet �
Island Marina Proje.ct. (11907=GM)
5. Resolution providing a supplemental appropriation for the 1981 debt service
budget. (11924-McM) .
6. Resolution amending the 1.977 Capital Improvement Budget to providing funding
� for downtown development projects and to amend the downtown and Seventh Place
� tax increment District #82 financial plan. (11708-GM) -
� 7. Resolution transferring $22,064 from Contingent Reserve for the Housing
Information Office. �
8. Resolution transferring funds in 1987 budget for City's share of financing of
the League of Minnesota Cities new building. (I1925-McM)
':i�rY �11I.L SEVE(`TH FI,OJR S:1?\T PAUF., ?[I\`ES�Tr1 S�le�
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