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275930 WHITE - CITV CIERK ��p^�0 PINK - FINANCE ���� CANARV - DEPARTMENT GITY OF S�AINT PALTL F1eci1N0. J� BLUE - MAVOR - Co c ' Resolution Presented By Referred To Committee: Date Out of Committee By Date WHEREAS: 1 . On October 7, 1980, the Port Authority of the City of Saint Paul adopted Resolution No. 1712 giving preliminary approval to the issuance of revenue bonds in the initial principal amount of approximately $4,000,000 to finance the construction of forty-eight storage tanks, a 2,000 Sq. Ft. office building and a 21,600 Sq. Ft. warehouse to enable Union Oil Company of California to relocate its W. H. Barber facility presently located at 825 S. E. Thornton, Minneapolis to a vacant parcel adjacent to their existing terminal operation o� Shepard Road near Randolph. 2. Laws of Minnesota 1976, Chapter 234, provides that any issue of revenue bonds authorized by the Port Authority of the City of Saint Paul , shall be issued only with the consent of the City Council of the City of Saint Paul , by Resolution adopted in accordance with law. 3. The Port Authority of the City of Saint Paul has requested that the City Council give its requisite consent pursuant to said law to facilitate the issuance of said revenue bonds by the Port Authority of the City of Saint Paul , subject to final approval of the details of said issue by the Port Authority of the City of Saint Paul . RESOLVED, by the City Council of the City of Saint Paul , that in accordance with Laws of Minnesota 1976, Chapter 234, the City Council hereby consents to the issuance of the aforesaid revenue bonds for the purposes described in the aforesaid Port Authority Resolution No. 1712, the exact details of which, including, but not limited to, provisions relating to maturities, interest rates, discount, redemption, and for the issuance of additional bonds are to be determined by the Port Authority, pursuant to resolution adopted by the Port Authority, and the City Council hereby authorizes the issuance of any additional bonds (including refunding bonds) by the Port Authority, found by the Port Authority to -be necessary for carrying out the purposes for which the aforesaid bonds are issued. COUNC[LMEN Yeas (�a�,t � Requested by Department of: Hu B tler Levine � [n Favor H z Hu �� •� � e McMahon __ A galnst BY Sho:valter owa r Adopt y Council:W �� Date NOV 13 1980 Form Appr ed by City At o ne �� �� �� ertified Pa• by Counci Secretary BY � � � A� r d by ;Vlavor. at �V � � SO Appr by Mayor for u s Council B _ BY pi1�L,t�ED N GU 2 2 1�L� .. :::._:.. �.:::::: , k:::::::: E�:::::::�' , , ...... ...... + ' � ��.���1!' UNION OIL COMPANY OF CALIFORNIA September 26, 1980 Page 2 In addition to the monthly rent, the Company will pay a fiscal and administrative fee as follows: First 10 Years $300 per month per million issued Second 10 Years 5400 per month per million issued Final 10 Years �500 per month per million issued 4. UNDERWRITING . Miller & Schroeder has agreed to privately place the loan agreement or secure an interim note which will provide $4,000,000 for construction. 5. TERh1S OF THE AGREEMENT The proposed agreement would be either a short term note or a thirty year loan agreement based on the credit of the Company. In view of the fact that the Port Authority does not own the land and this is a loan agreement there would be no purchase options. 6. RECOMMENDATION Union Oil Company has submitted their plan to the West 7th Street Federation and a letter of approval from District 9 is attached. Staff has reviewed the project in detail along with the financial statements of the Corporation and recommends approval of Resolution No. 1707 for the preliminary and underwriting agreements. Because of the fact the public notices to comply with the Security Department requirements were not published on September 11 or the creation of the district was not published at the same time, if the project is approved by the Commission today, the public hearing and creation of an industrial development district would be considered at a special meeting on October 7. sjs , " ,.... ....... ,�::::::. ... - . , . e:::::::: .::�� � � ; , ' . ��"1���� �,, . � .�� RESOLUTIUN NO. 1712 RESOLUTI01�1 OF THE PORT AUTHORITY OF THE CITY OF SAINT PAUL ' WHEREAS, the Port Authority of the City of Saint Paul ( the "Authority" ) i�as received fron Union Oil Conpany of California (hereinafter referred to as the "Company") a request that the Authority issue its revenue bonds in the amount of $4,000, 000 (which may be in the forni of a single note) to finance the acquisition, installation and construction of . office, c�arehouse, storage and distribution facilities (hereinafter collectively called the "Project" ) on land adjacent to its existing terriinal facility in the City of St. Paul, all as is nore fully described in the staff report on f ile; and 4r'HEREAS, the Authority pursuant to Resolution No. 1707, adopted on September 30, 1980, gave preliminary approval _ to the Project subject to ratification by the Authority following the public hearing to be held October 7, 1980 on the proposed Project; W:�EREAS, the Authority, pursuant to idinnesota Statutes, Section 474 .01, Subdivision 7b did publish a notice, a copy of which with proof of publication is on file in the office `of the Authority, of a public hearing to be held on October 7, 1980 on the proposal of the Company ttlat the Authority finance the Project hereinbefore described by the issuance of its industrial revenue bonds; and WHEREAS, the Authority did conduct a public hearing pursuant to said notice, at ���hich hearing the reconmendations contained in the Authority' s staff inemoranduri to the Commissioners were reviev�ed, and all persons who appeared at the hearir.y were given an opportunity to express their views with respect to t�ie proposal . NUW, THEREFORE, BE IT RESOLVED by the Board of Comrlissioners of the Port Authority oi- the City of Saint Paul, riinnesota, as follows: '� • 1. Z'��:��::�::�: reliminar a ��`�� . . ...... p y pproval of t::::;:::� Project given by ..� _ � the Author�ty p,ursuant to the Authority's Re�solution No. 1707 � adopted on Septernber 30, 1980 meetiny atid the authorization to �' '� . G%.� / issue revenue bonds of the Authority (cihich may be in the form �_-� /� . of a single note) in an amount not to exceed $4, 000,000 (other � th�A such additional revenue bonds as are needed to complete the'`Project) are hereby ratified , and the findings adopted by the Port Authority by; its Resolution No. 1707 are in all respects affirmed. 2. In accordance with Subdivision 7a of Section �. 474 . 01, t�innesota Statutes, the Executive Vice President of the Authority is hereby authorized and c�irected to submit the proposal for the above described Project to the Cor.inissioner of Securities, requesting his approval and other officers, employees and agents of the AUTHORITY are hereby authorized to provide the Co*nmissioners with such preliminary information as he may require. 3 . The actions of the Executive Vice-President of the Authority in causiny public notice of the public hearing and in describing the general nature of the L�roject and estir�ating the principal amount of the bonds to be issued to finance the Project and in preparing a draft o£ the proposed Application to the Co�:unissioner of Securities, State of Minnesota for a�proval of the Project, which has been available for inspection by the public at the office of the Aut�lority from and after the publication of �he not�ce of hearing, are in all resnects ratified and confirmed. - �/ ; - Adopted : October 7 , 198G �/ ,�j� / l� , � ` / /� , �-�r�� _ ;� l Att�t;: ;:� Pres derit,!The Port Authority � � � � of the ��y of Saint Paul ;�� � j� % i/���.�fj/ � `�������v1 G Secretary � � �' � � . f � 0�1O1 : 12j197�` . " . r Rev. : 9J8/76 , EXPLANATION OF ADMINISTRATIVE ORDERS, f��pC �"#g0-o�t� � RESQLUTIpNS, AND OR�}INANCES ' - ��r����►t�JV Qate: October 7, 1980 ��TO: MAYOR GEORGE LATIMER FR:, E. A. Kraut � . �; UMION OIL COI�ANY OF CALTFO�iIA (EXPANSI4N) � �4,OQO,Ot10 REVENUE BOND ISSUE � PRIVATE PLACEMENT RESOLUTIENI Nd. 1712 ACTTON REQUESTEQ.: • - In accordance wtth the laws of Min�esota, Chapter 234, it is requested tMat the C�ity Council , by Resolution, a dr.aft copy of which is attached ttereta, appro�re the issuance of revenu� bands in the anx�unt af appraximately �4,�OO,tI00 to finance . the relocation of U�ion .4i1 Company's W. H. Barber facil�ty presently located at 825 S. E. Thornton, Minneapotis to a vacant parcel ad3acent to tf�elr existing - , ter�aiRat operation on Shepard Road near Randolph. Union 0i1 Company was tncorpor.ated in Califor�tia in 1890. The facility wi11 serve as a di��ribution �enter receivtng rafine� r��Mthal and chemicals prfmarily by rail for storag� in tar�ks. PURPOSE AND RATIONALE FOR THIS ACTION: � 7he purpose �af the bond issue is to ft�ance the oonstruction of forty-ei+ght s:��rt�qe tanks, a 2,000 Sq. Ft. office� building and a 21,60Q Sq. Ft, warehouse. � The faciT�ity would incluc� a scale truck �la�ading facility and a rail truck �nloading wnft. . • ATTACHMENTS: Staff M�randun Draft City Co�cil Resolution . Port Authority Resolution No. 1712 .�-� • CI'I'Y' O�`+ ►��.E�.I ioTT �A�J'I. � . j ��'��� ; ,\j �: Oia'FICFt, OF THE CITY G�IIi'7CIL i r ; �,.�- c �,� i7 i i��1s�� : . � .. �siaaqCC�"ti . � . l�._ _� = �.1,�:� , .. ' Da t e ; November 7, 1980 :! `i � � l�ll �� 1 � G � � � � � i T4 : Soint Paul City Counci! F�� f11� � Cvmmi�tee an FINANCE, MANAGEP1��lT & PERSONNEL George P�1cMahon , chai�man, makes the following repart on C.F. [� Ordinar�cE (6� [� Resolution � �ther TIT�� : � � At its meeting of November 6, 1980, the Finance Committee recommended ap�roval __ of the fol 1 owi ng: . _�_ 1 . Resolution amending Section 8 of the Civil Service Rules to extend preference in certification on promotion lists for er�ployees whose positions have been reclassified, to employees in the Professional-Admir�istrative Bargaining Units. (11469-GM) 2. Resolution chan ing grade for Procurement Clerk-Health Services in .Secti�on 3.6 (Clerical Group� from Grade 24 to Grade 25. (11470=GP1). . 3. Resolution transferring $50,000 to prvide City's 10% match for the Rehabilitation of Harriet Island Pavilion. (11471-GM) 4. Resolution approving issuance of revenue bonds by the Port Authority for approximately $4,000,000 to finance relocation of Union Oil Company's W. H. Barber facility to a vacant parcel adjacent to their existing terminal : " operation on Shepard Road near Randolph. (11472-GP1) 5. Resolution adjusting salary range for the title of Assistant Fire Chief. (11482-GM) 6. Resolution for budget supplement� appropriating additionalfunds to the Refunds and Repayments Account. CiTY HALL SEVE�ITH FT,UOR SAINT PAUL, ytt�I�IFrSOT:� 5�l02 ...�=�``_. :rj .