275771 WHITE - CITV CLERK COUIICII �J f��r'�
PINK - FINANCE G I TY O F SA I NT PA LT L �.,+ : � /�
CANARV - DEPARTMENT
BI.UE - MAVOR File NO.
� uncil Resolution
Presented B
Referred To Committee: Date
Out of Committee By Date
WHEREAS:
1 . On September 16, 1980, the Port Authority of the City of Saint Paul adopted
Resolution No. 1701 , giving preliminary approval to the issuance of revenue bonds in the
initial principal amount of approximately $500,000 to finance the construction of approx-
imately 11 ,000 square feet of office and production facilities on Parcel E-6 in Riverview
Industrial Park for Century Circuits & Electronics, Inc.
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. 1701 , 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.
COUNCILMEN Requested by Department of:
Yeas Nays ��
Bu l r Hunt
Ho a �-- In Favor
H t Maddox � �i �/�
M�M�non __ Against BY �A
ad x Showalter
h Te esco �+T
edesco ,,��r1 � � Form Ap r ed by City ttor
Ad ed by Council: son Date I� �
ertified by Council Secretary� BY � /
Ap b lNavor. t _ ��+T 8 198� Approved b Mayor for Sub ission to Council
By - By �
e�.ts��U 0 CT 1 8 i9�0
� � � • �lj M-?�
. �. � 5 � ��.
�► uT � � RITlf
OF THE CITY OF ST. PAUL
Memorandum
TO: BOARD OF COMMISSIONERS DATE: Sept. 10, 1980
(Sept. 16, 1980 Regular Meeting)
��
FROtd: J.F. Faue ��
SUBJECT: CENTURY CIRCUITS & ELECTRONICS INC
PUBLIC HEARING - SALE OF LAND
RESOLUTION N0. 1700
� PUBLIC HEARING - SALE OF BONDS
PRELIMINARY & UNDERWRITING AGREEMENTS
� $500,000 REVENUE BOND ISSUE
RESOLUTION N0. 1701
1 . THE COMPANY �
Century Circuit & Electronics, Inc. , presently located in leased
facilities at 135 State Street in Riverview Industrial Park, was
incorporated in Minnesota in December of 1976. A history of the
company �and a brief biography of the six principals is attached to
this memorandum for your information. The company employs approx-
imately 20 people at the present time and expects to be adding addi-
tional employees as their company continues its growth pattern.
2. THE PROJECT
The project calls for the construction of approximately 11 ,000 square
feet of office and production facilities to be located on Parcel E-6
at Eva and Eaton Streets in Riverview Industrial Park. The parcel
contains approximately 70,000 square feet. The site provides adequate
room for planned future expansions. Th2 company is in the process of
finalizing the contract. The cost of the facility is estimated at
$300,000 at this time. Based on preliminary information, a bond issue �
not to exceed $500,000 will provide adequate funds for construction and
the related issue expenses. �
3. FINANCING
Miller & Schroeder Municipals have agreed to underwrite the proposed
bond issue in an amount not to exceed $500,000. The allocation of the
proceeds based on this amount would be as follows: �
.� '
. � ' �
, �;�t.;
BCIARD OF COP�1MISSIONERS ''�'' �� ���•
Sept. 10, 1980 �
Page -2-
Construction - $397,500
Legal , Printing & Misc. Expenses 15,000
Capitalized Interest During Construction 22,500
Debt Service Reserve 50,000
Underwriting 15,000
500,00
. Based on an estimated 9� interest rate, an annual debt service of approx-
imately $50,000 would be required. In addition, a fiscal and administrative
fee of $1 ,800 per year for the first 10 years, $2,400 per year for the second
10 years and $3,000 per year for the last 10 years will be charged. The
financial statements for the company are attached.
The principals of the company, of which there are six, have formed a partner-
ship called Century Circuits Six. They will personally sign the lease and be
� obligated to the debt. The facility will be sublet by the partnership to
the company who will sign for the full term of the bonds and also guarantee
the bonds. The personal financial statements of the principals are attached.
The personal net worth of the partners collectively exceeds $2 million, and
the net worth of the company is in excess of �300,000.
The land lease on the 70,345 square foot parcel is based on a value of $1
per square foot at 8.75� interest over the 30-year term which will provide
land rent of $572.29 per month or �6,867.48 per year. The asking price for .
the land was $1 .50 per square foot; however, in view of the fact that the
subsoil in this area requires considerable correction, the site is tri-
angular� in shape affording only 133 feet of frontage on Eva Street, and
has a limited buildable area, the value has been adjusted to $1 per square
foot.
4. RECOMj�lENDATIONS
The Port Authority has published the required public notice for the sale
of bonds and the notice of sale for the property. Early notice for District
3 was published, and to date we have had no written or oral response objecting
to the project.
Staff has reviewed the project, interviewed officers of the company and
recomr�ends approval of Resolution Nos. 1700 and 1701 . �
JFF:ca
Attach.
�.�
,.. ., . .
. ' . Resolution No. 1701
. �- ����
� . �,� RESOLUlION Or � �� � �-'�
�`i THE P012T AUTHORITY OF TciE CIiY OF SAINT PAUL �
' � i^
�
� • t-�HEREAS, the purpose of Chapter �7�, I•iinnesota # �
Sta�tu�es, };noc�n as t��e P�Iinnesota ?•Iunicinal Industrial Develop- ;
� . • nent �c� (h�rei.^.a�ter called "Act" ) as four.d an:3 oe�er;�in�d by '
ttie lec,fislaLUre is to pror�ote the weliare of the state by the
acti:�e attraction and encourag�ment and develop;,lenL o� econc:�i- " .
ca11y so��nd indc:s�ry and co::u;�erce to prevent so far as uossible
the e�_•?-genc� c� nlighted and na?-ginal lands and areas of
ch?'cr:�.c �.:,e::IJiC�;�:.�_nt and to aid in the develo��raent oi. e�isting
areas c= i::._ch�; nargir.al land and nzrsistent uneraployr,ien�; and
t�:i����zS, factors necessitatiny ti:e active pror.lotio7
. and de��elcpr:.�rt o� econo»ically sound inc3us�ry and co:.�ne?-ce are
. tiie ir�creas�ny �o;:centration oi poo;:iation ir. the ^etropolit�an
areas a��� tne _�.�;dly risiny increase in the G�::ount ar,d cost of
gover;�.-:_;�a� s`�vic�s required to ;:ieet tt�,e n�eds of the
inc�eas�d pc�ui�_�cn and the need ror develo�r.len�. of lai.d use .
�di;�1Cr ,:?'_� ��l"i:�lu°_ G:� ad2qua�e t8.1 �.�SZ t0 f1ridI2CE �172S�
1F1C�c:..S�v COS�S �i.`�.i c"iCCE?SS t0 �Ili��Oyit:ef2� O��O?'Li1ri1L1eS ?'Oi SUC�I
. pop�?at�on; a��d
. �_�-:rn�, i�:e Port Authority of the City oi Saint Paul
(the ":u�::or_��%" ; has received fro� the Ceiz�t�.�?-y Circuits Six, a
t•�ir.nesc:� e:e..���' partnership c�::�prised o� r:. T;. :�-�undson,
F:eith R. ��?:��o�, Kuasell E. Barnes, David �D. Coye�, Jar:,�s �?.
Ro�inso��� ar:d :.o��-�an R. Gibbs (hereinarter r�ierred to �s
"ConpG:?y" } a re�uest that the Authority issue its revenue bonds
to fi;:ar,c� the zcquisition, installation and cons�ruction oi an
11, 00� square �ooL office and manufacturing facility
(h2reir.af�er cailed the "Projec�" ) in tne City of S�. Paul,
crhich Project is �o be subleased upon coMpletion to Cent�ry
Circui�s & El�ctronics, a t-iinnesota cornoration, all as is r..ore
fullv described in the staff reoort on file; and
' � ' � ' `- _. �._�,, ;:, �
' ' � taHEREAS,, the Authority desires to facilitate the ��'� � ��-
selective development of the cor*.�unity, to retain and improve '
its taa base and to help it provid� the range of services and
employment opportuni.ties required by its population, and said
Pro-�ect a�ill assist the. City in achieving that objective. Said .
Proj��ct cai1T help to increase the assesser3 valuation of the .
City and help maintain a positive relationship betw�en assessed
valuation and debt and enhance the irnage anc7 reputation of the
�
City; an� _ .
jr'HEREAS, the Project to be financed by revenue bonds � . ,
� �will resul� in substantial er.:ployn�:�t opnortunities in the
Project; �
ti'�HERE?�Sr the Authority has been advis�d b�� repre-
.,
ser.ta�ives of Lhe Company that conventional, cor:unArc?al
financ�:�; �o pay the capital cost of the Project is available
onlv o� a ?irnitec� basis and at such high costs of borrowing
that t':z e�onc�i� feasibility of c�erating ttie Project ��:ould be
signi�icnnt�y re^uced, but the Co: �-;any has also advised this -
. Auzh�r��y L'r.ar ;,ith the aid of re���nue bond financing, and its
resul��n� lcw �o�rowing cost, the :roject is economically more
feasi�le; � �
�•;�Ez�=S, P4iller & Schroe.:zr Munici;��ls, Inc . (the �
"Underwriter" ; '�as nade a proposal .in an agree:�ent ( the " .
"Under:•�r?ting Z7reeTlent" ) relating to the gurchase oi the
rev2n�� ::,�-�ds L� be issued to finance the Project;
_ 4YfiEREAS, the Authority, �ursuant to i•iinnesota
Statu�es, Sec�ion 474 .01, Subdivision 7b did pu�lish a notice,
a �opy c� ;•�.�?ch wi�:� proof of publ�cation is on file in the
office o� t'ne �u��:ority, of a public hearing on the nroposal of
the Cc�?y�-:y �}:at �he Authority f inance the Project here?nceiore
describe�i by ihe �ssuance of its ina��strial revenue bon�s; and
� `►•7HEREAS, the Authority did conduct a public hearing
pursuant to said notice, at F�hich hearing the reco�-�endations
� contained in the P.uthority' s staff iner�orandum to the
CoMmissioners were reviewed, .and all persons who ap�eared at
the hearin, were given .an ooportunity to expYess their views
with respect to tY:e proposal.
?�,�:7, ^H�REFOR�, BE IT R°SOLVED b�� Lne Co?��issior,ers
oF the Port A��hcrity of the Cit�� of Sain� Paul, iiinnesota as
follcws :
.. . ' • � . '. ' r I '.�y .
� ' 1. On the� basis of inforr,iation available to the "",�,� ���-
Authority it appears, and the Authority hereby finds, that said .'
Project constitutes properties, used or useful in connection
��ith one or rnore revenue producing enterprises engaged in any
�_ buG;ir.ess s�it}iin the neaning of Subdivision la o� Section 474.02 �
of 't��e Act; that the Project furthers the purposes stated in
Section 474 . 01 of the Act, that the availability of the �
iinancing under the Act and willingness of the Authority to �
furnish such financiny caill be a substantial inducement to the '
Co;:ipany � to undertake the Project, and that the effect of the
Project, if underta�cen, ��ill be to encouraye the developrlent of .
� econo;nically sound � ind�stry and co�;:�erce and assist in the
vrev�ri�ion of tiie _e�^�e�-gence oi Uliyhted and r.:aYginal land , and
w?11 heip to pr4�ven� chronic unenploln�nt, and will help the -
Cit�; to retain ar.� i:�pro��e its tax base and provide the ranye
of services and enploy?�ent opportunities required by iLS '
popula=�on, ana t�:�11 nelp to prevent the nove�ent of talented
and eG1��=ec� p�rsons ��?� �of the state and to areas ��ithin the
state :.:,e�-e tiie�r se_v�ces ;aay noL b� as ef fectively use3 and
will re��.:'_L ir ,:core i.^.�?nsi��z de:>elopnent and use of land
��+iciz�:� �::? �i�y �n� c:_?' eventually r�sult in an increase in
tr?2 Ci�y�S �2:: v^�°� ci:7 �'17�u� lt iS lI1 t�l@ �J�St interests Oi
the p::=- ��st�?c� anc t�? peeple o� the City oi Saint Paul and
in furti:er�::c_ ��i the gen�r�l plan of de��elop�ent to assist the
Co:�p�:�,r _n �ir�^ci:^.y '�r� Project.
2 . Su;�ject to the r:lutual agreenent oi the
Author:=_, �'�= ��:��a_^.�; a�:d the �urchaser of tre revenue bonds
as to tn� 4e�.?__s o= �hz iease or other revenue agree^en� as
. ueiinz� in t�2 yC�T an� otlier �ocumerzts necessary to evid�nce
and e��ec� ��? :i:^.azc?n� of the Proj ect and th� iss�ance o� the
reve^ue r���s; ��-.�= Pro;�c� is hereby apurovzd and authorized �
ard tY:� issuG:�� c�� revenue bords of the Authority in an arnount '
not to _..�c�d a:���oai�:;�tely $5L`0,000 (other than such
addi�io::a� reve^��� ��o::�s as are needed to conplet� tre Projec�)
1S �L�`.:?G'_"122i3 �O •_`?I:3:rC? the COS�S Oi the Project 2I'1C3 the
reco��u�?::da�ior�s e� the Authori�y's staff, as set forth in the
staff n�r.:�ra;�du� to �'�e C�� � issioners cahich c�as presented to
the Cor.�.�issionars, are incorporate� h2rein by reference and
approved.
3 . Ir. accordance with Subdivision 7a of Section
474 . O1, �iir.neso�a S����tes, the Executive Vic2-President of the
AU�l':iuR_�Y is n�reby authorized and directed to sub::�it the
proposal fcr t;;? a;�ev� describe3 Project to t�.e Co::�:�issione� oi
S�c�rities ; reu��esting his zp�roval , and other o`ficers,
e-�ployees and wge:�LS of �he AU�HU:�I�� are hereby authorized to -
provide �he Co:�-��ssior.er �aith such �relirinary� infornation as
he nay requir�.
.. . � �; f.,.,
. . 4. There has heretofore been f iled with the �' d� ���.
� Authority a form �of Preliminary Agreer�ent between the Authority
anc] Company, relating to the proposed construction and .
financing of the Project and a form of the Underwriting
�� Agreement. The form of said Agree;�e:�ts have been examined by
the�'-.�oin�issioners. It is the purpos� of said Agreer�ents to
evidence the commitment of the par�ies and their intentions
witii resp�ct to the proposed Project in order ti�at the Company
r�ay proceed without delay �vith the cor,tmencement of the �
acquisitionr installation and construction of the Project wittr � .
. the assurance that there has been sufficient "official action"
�• Ull�er Section 103 (b) of the Internal Revenue Code oi 1954, as - .
ar�ended, to allow ior the issuance of ir.dustrial r�venLe bonds
( includ���, if d�e;�ed aapropriate, any interiM no�e or notes to
provic:� te;npo�ary fir.ancing thereof) to finance the entir2 cos�
of tY`,� Project upon agree�ent being reached as to the ultimate ��
� de�ails of the ?_cject anr] its financing . Said Agreements are
herebu a�a�oved, ann �hs Presid�nt anc3 Secretary of the
Aut}�or_}�-� ��? '�:�=��:� �u�?zorizec3 and dir�cted to execute said
Ac,reern�;;_s. -
5 . '��r•� ex?�u�ion of t�e Preli;.iinarv Aoreer�ent b�
r
✓l�� J t
the CoTp�^v, tr=� sLa�f o� the Authority are authorized and
direct?a �a ca::��nuG r.�,eLia�ions t4ith the Cor::panj� so as to
reso�v? t'_:e re::,�i:��n� ?S8U°5 necessary to th� preparation of
the lvas= a�� e�::�=Y �cs�unents r.ecessary to the �doption by tne
Autho-ri�}- �� i�� f inal por.d reso�Ltion and the issuance and .
delive�.';� o- �'�e revenuz bonds; provided that tl�e Presid�nt (or
Vice-P���_�__.� �, �::� P��sid�nt is abser.t) a;�d �h? S_cr=�ar��
1
(or Assis�a�t S�����Grv i_ the Secretary is absent) oi the
- AuLhori�;►, or i� e��::�r of such oificers (and his alternative)
are a���r�, }�e �":.-casu_er of the Authority in lieu oi such
absent o�_��czrs, ar� l:�reby authorized in accordance with the
DY'OV1Si�i� O` :`i�rl!^:�S^v��c S�atutes , Section 475 . '�6 � Sll}�C�1V1SlOri
1, to a��ce�.� a ii�.:' o`�eY of the �nderwriters nade by the �
linderwri�ers te r.s_rc:�Gse said bonds and to execute an
underwriting Ggree:�er:t setting for�h such offer on b�half of
the A�,��hor.ity. -S�.c�. acceptance shall bind the Underwriters �o
said offer but s':��11 be subject to approval and ratifica�ion by
the Port Au�hori�y in a formal suppler.,ental bond resolution to
be adopted prior to �ne delivery of said revenue bonds.
6 . ^�e revenue bonds (including any interim note or
no�es) ar3 interes� thereon shall not ct�r.stitu�e an
ir.cebtn:ir.ess o` t;�� ��,:thority or tne C1�V �Ji Saint Paul within
th� r�eaning o� a_��.- constitutior.al or statu�ory lir�itation and
:�� � . . . . ....... :...� ���'�?.
shal� not constitute or give rise to a peci.niary liability of
the Au�i�ority or the City or a cl�arge against their yeneral
credit or taxing powers and neither the full �aith and credit
nor•., the taxing powers of the Au�hority or th? City is pledged
for �i;e paynent of the Uonds (and interin no�e or notes ) or
interes� thereon. . '
.
7. I:� order to faci?itate completion of th� revenue '
bond ��r.a.^.cing h�reir. con;e;:i?lated, the City Council is hereby
. r�ques-�:3 �o c�r.s�n�, ,r,urs�ant to La:�s oi iiin�esota, 197G, • -
Cha�te_- 23-:, �o t'r.e _ss!i�nce of trE revenu? bonds ( includiag
, clil�V 1'":=°�li�: liU�_L�. Oi" i�L:�@S� ri£.'IZ].I? C011�C:T:?��c�EC �?1C� 3I'1�
' ;dditi���a? i�on:is ���:�c_•^. the Authori�j r�y prior to iss�.:ance a�•
fro;:l; t�;�e to tine thereaiter d2e:z nec2ssar�� to co'.�l�l?tP t.Cl2 �
Projec� o_ to re�-�.�r�' su��il I2VC'rili° bonds; and �or suci: �urpose
� t.r:t' :�::=..,.I�.'_V? v ?C2 �•`_"°S�C:?I1� O� t7:2 ALlt��Orlt1� 1S Yl°r�'by
aut'r:a_ _.._�:�i ar:��� ,:i-=e-��� �o fort�a�:i to th� Cit�� Council co�ies
, •�
o� t:-:__ ;_-�cy��__�^ �:.� sui� Prelir�inary �gree^znt cllla ani
c..'C.UC:lL _�__J._ �J�-'_r.D'l�' .�I':r0"t:s�t.lUi? �1:°_ C1LV L'Ot'__:C1�. 11cf I2�U°St.
i: , :'•_°_�c �Ci.lv_^.j Oi Li12 .t'-'•?;cCil�l'J2 ���_C@-�Y'2j1C3' e:lt Ui
tY:e �:��:i�^_�=f' ::: ca:.�_::g ��bl�c r.ot�ce of the public hearing .
a:zu i, �__ .._ ��;-�� tr� ;;•e:,era'_ natt:re of ti�e Project a»d
es�:��� -> " _'".� -- -...- ��� a�oun� c� ��nas �.o b= iss�ed to
, . . .:, _ __
iir.Gn�� �_.e P�oj2c� anu in p�euarir.g a d�-a�t oi the �,-o��csc�
ae�l_ _ _�_c�n =^ ���e Cnr�T:l�ss_o::er c� Sccuritics, Stai:e oT
i:�.�:._".� , ��.;: _�:����-.�:i o� ���e ?r����c:., ;::,ic�. :±a� :;�en
�V�l:...v?� �o= � �s��c���.: �aj� t'-ie ��,:alic zt L'ne office of tl�e
P.�r[1�3:�� � �.y l�J-c G:::��.t Cir�i l.l�� `1�1..1�1trC�t���i1 �� 11VL.1C� �l l.�i�
hea_�� : t�Y� �;-: �-i reso�cts rati�ied and co�_`irr.:ed.
� �
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_ .
� �:��, EXPLA1+tATION OF ADMIMISTRATIV� ORUERS, ���� �
RESOLUTItf�NS, AND �RDINANCES �
`
. - � � �t E C=E.i V E`�
! SEP� 2 19gp x
Date: Sept. 16, 1980 : MA,���� �
T0: MAY4R GEQRGE LATIMER .
�� � �
F�; � R.F. Sprafka, St. Paul Port Authority � _ --
RE: � CENTURY CIRCUITS & ELECTRONICS, INC.
' PRELIMINARY AGREEMENT - $500,000 REVENUE BOND ISSUE �
RESOLUTION N0. 1701
AGTIOW REQUESTED: � ;
�
In accardance with the Laws of Minnesota, Chapter 234, it is requested that the City -
Council , by Resolution, a draft copy of which is attached hereto, apprvve tl�e i�suance
of approximately $5�00,000 i.n revenue bonds for the purpose of financing the constru�tion
of approximately 11 ,000 square feet of office and production facilities on Rarcel E-6 in,
Rivervfew� Industrial Park for Century Circuits & Electronics, Inc.
PURAQSE AND RATI(?NALE FOR TFfIS ACTION: � �
The purpase of the bond issue is to finance the construction of approxi�attely 11 ,000 square
� feet of office and production facilities on Par.cel E-6 in Riverview Industrial Rark for
Century Circuits b Electronics, Inc. for a term of 30 years. >The company presently employs
20 people and expects to be adding new employees as the cc�mpany grc�s. �
The lease will t� signed by Century Circuits Six, a partnersMip cansistfng of A.W. Amundson,
K.R. Elwood, R.E. Barnes, D.D. Coyer, J.W. Robinso�,.and:N.R. ;Gibbs, who wfll also perso�aafily.
guarant�e tl� lea_se. The facillty wi11 be subl�t by the partnersh�;p to tfie company.
ATTACHMENTS•
Staff Memorandum '
Draft City Counci1 Resolution
Port Authority Resolution No. 1701
4� ` V��1� o� I�.J�CA1.�'VT� ��V� � .. . .� .
�' _� � . � �c5�`�1.
�f'��, _,;�� ' '�:. ' OIi'��'ZCE �F T�-3E CITY COUITCIY,
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�-� � . :� da t e : October 3, 1 g80
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TO : Sa�nt P�u! Giiy Cc�����i� � .
FRC) �VI � C�R'li'Tilt'��� OP1 FINANCE, MA��AGEMEP�T & PERSONNEL _
George P1cMahon , chairmar�, rnakes the foi tov�ina �
report an C.F. � Ordinance
(4} � Resotution
�. Other
Tt�' LE : . -
At its meeting of October 2, 1980, the Finance Committee recommended approval o-F
the following: . �
15. Resolution approving the issuance of approximately $500,OO�J in. revenue bonds
by the Port Authority for financing construction of office and production �
facilities in Riverview Industrial Park for Century Circ�sits_ i� Electronics, Inc.
� (11397-G�1) : ._ :
16. Resolution approving the issuance of appraximate1y $680,000 in revenue bonds
by the Port Authority for financing construction of two-story o#fice building
in Midway Industrial Park for Owen Ayres & Associates, Inc. (11396-GM}
17. Resolution approving application of Robert J. E1lis for abatement, submitted
on behalf of the Public Housing Agency. (11402-GM)
18. Resolution concurring in the reappointments by the E•tayor of I�lary Ann Sudeith �
and Winnie Estrada to the Public Housing Agency:
CITY HALL SEVENTH FLOOR SAItiT PAUL, btlti;i}-:SOTA S�t02
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