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273244 �WHITE - C�TV CLERK COUflCIl f ( }��� � PINK ` - FINANCE GITY OF SAINT PAUL F.� � t.a CANARV - DEPARTMENT BLUE - MAVOR File NO. ��At�y�� r,_„� o�ncil Resolution ;� Presented By Referred To Committee: Date Out of Committee By Date WHEREAS: A. The Council has by Resolution No. 273122 adopted on June 7, 1979 and approved by the Mayor on June 8, 1979 authorized the issuance and sale of $4, 865,000 General Obligation Capital Improvement Bonds, Series 1979, to be dated August 1, 1979 ; B. The appropriate City Officers have, pursuant to said resolu- tion, caused proper published notice of the sale of the bonds to be given as required by law, and sealec? bids, pursuant to said Notice of Sale, were received until 10 :00 o'clock A.M. , Central Time, on Tuesday, June 26, 1979, in the office of Bernard J. Carlson, Director, Department of Finance and Management Services, 109 City Hall, St. Paul, Minnesota; and C. The Director, Department of Finance and Management Services of the City has advised the Council that the bid of The First National Bank of Chi�a o d was oun to e e mos a van ageous an as recommen e a sai bid be accepted. • NOW, THEREFORE, BE �� RESOLVED THAT: l. The bid of �e First National Sank of C'hi aacrn and Associates to pur ase , , Genera O igation Capita Improvement Bon s, Series 1979, of the City in accordance with the Notice of Bond Sale at the rates of interest hereinafter set forth and to pay, therefore, the sum of $4 ,865,000 plus a premium of $�� is hereby found, determined and declared to be the most favor e i received and is he reby accepted and said bonds are hereby awarded to said bidder; COUNCILMEN Yeas Nays Requested by Department of: Butler Financ nd Man nt Services Hozza In Favor Hunt Levine ,. _ Against B Maddox lrector Showalter Tedesco � � Form Approved by City Attor y Adopted by Council: Date Certified Y�ssed by Council Secretary BY � By w A►pprove��by iVlavor: Date _ Approved by Mayor for Submission to Council By _ - BY WHITE - CITV CLERK ������ PINK - FINANCE (jITy OF SAINT PAUL Council +CANARY,- DEPARTMENT File NO. 4 BLUE - MAVOR � � Co�ncil Resolution Presented By Referred To Committee: Date Out of Committee By Date 2. 2. The Director, Department of Finance and Management Services , is directed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the unsuccessful bidders; 3. Said bonds shall be payable as to principal and interest at Chemical Bank, New York City, or The First National Bank of Saint Paul, at the option of the holder, or any successor paying agent duly appointed by the City; 4. The bonds bearing the serial numbers and maturing on February 1 in each of the years as follows shall bear interest as follows : Year Bond Numbers Interest Rate 1981 1 - 84 6.25$ 1982 85 - 175 6.25$ 1983 176 - 271 6.00$ 1984 272 - 373 5.25$ 1985 374 - 480 5.25$ 1986 481 - 593 5.25$ 1987 594 - 713 5. 30$ 1988 714 - 839 5.30� 1989 840 - 973 5.30$ 5. The Council hereby ratifies and approves each and every act of its subcommittee on Finance and Sinking Funds in connection with the sale of said bonds; 6. Said bonds shall be executed by the facsimile of the official - seal of the City of Saint Paul and signed by the facsimile signature of the Mayor, attested by the facsimile signature of the City Clerk and counter- signed by the facsimile signature of its Director, Department of Finance COUNCILMEN Yeas Nays Requested by Department of: Butler [n Favor Hozza Hunt Levine __ Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY By /lpproved by :Navor: Date _ Approved by Mayor Eor Submission to Council By _ BY M�HITE - CITV CI.ERK ������ � PINK �- - FINANCE G I TY O F SA I NT PA U L Council � 'CANARV'�- DEPARTMENT � !' BIUE - MAVOR File NO• � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date 3. and Management Services, and re-executed by the manual signature of one of such officers, and the interest coupons attached to each bond shall be executed by the facsimi.le signatures of said officers; 7. The bonds of said issue shall mature without option of prepay- ment shall be dated August 1, 1979 , and shall be numbered 1 - 973, both inclusive. Interest on said bonds will be payable February l, 1980, and semi-annually thereafter on August 1 and February 1 in each year; 8. Said bonds and the coupons attached thereto shall be in sub- stantially the following form, which has been approved by the City Attorney of the City of Saint Paul, and is hereby approved and adopted: UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF SAINT PAUL GENERAL OBLIGATION CAPITAL IMPROVEMENT BOND, SERIES 1979 No. $5,000 KNOW ALL MEN BY TFiESE PRESENTS, that the City of Saint Paul, in the County of Ramsey and State of Minnesota, �cknowledges itself to be indebled and for value received hereby promises to pay to bearer, without option of prepayment, the sum of Five Thousand Dollars ($5,000) on the first day of February, , together with interest thereon from the date hereof until the p—r cipal sum is paid at the rate of percent per annum, payable February, 198Q, and semi- annua y erea ter on the first day of August and the first day of COUNCILMEN Yeas Nays Requested by Department of: Butler In Favor Hozza Hunt Levine _ __ Against BY — Maddox Showalter Tedesco Form Approved by City Attorney Adopted by C ouncil: Date Certified Passed by Council Secretary BY sy� t�pproved by 1�lavor: Date _ Approved by Mayor for Submission to Council By BY WMiTE - UTV CLERK ������ PINK - FINANCE COVnCII ''CANAR1r- DEPARTMENT C I TY OF SA I NT PAIT L File NO. t S� BLUE - MAVOR � � Co�ncil Resolution Presented By Referred To Committee: Date Out of Committee By Date 4. February in each year as evidenced by and upon the presentation and surrender of the annexed interest coupons as they severally become due. Both principal of and interest on this bond are payable in lawful money Of the United States of AmeriCa at Chemical Bank, New York City or �'he First National Bank of Saint Paul at e op ion o e o der or any successor paying agen u y appoin ed by the City and for the prompt payment of this bond, both principal and interest, when due, the full faith and credit of the City of Saint Paul are irrevocably pledged. This bond is one of a series of bonds issued and sold by the City of Saint Paul, in the aggregate principal amount of Four Million Eight Hunclred Sixty-five Thousand Dollars ($4,865 ,000) authorized pursuant to Laws of Minnesota 1971, Chapter 773, as amended by Laws of Minnesota 1974, Chapter 351, as amended by Laws of Minnesota 1976, Chapter 234, and Laws of Minnesota 1978, Chapter 788, for the purpose of procurement of funds to be used by said City for the acquisition, construction and repair of capital improvements of the City of Saint Paul in accordanc� with the provisions of said laws. It is hereby certified and recited that all things, acts and conditions required by the Constitution and Laws of the State of Minnesota and the Charter of said City to happen and be done and performed precedent to and in the issuance of this bond, have happened and have been done and performed in regular and due form and time as required by law and that the issuance of this bond did not cause the total indebtedness of the said City to exceed any constitutional, statutory, or Charter limitation. COUNC[LMEN Yeas Nays Requested by Department of: Butler Hozza [n Favor Hunt Levine _ __ Against BY Maddox Showalter Tedesco Form App�oved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY gy Approved by Mavor: Date _ Approved by Mayor for Submission to Council By _ BY ,;-- WHITE - CITY CLERK �������� PINK - FINANCE GITY OF SAINT PALTL Council �� rCANARY- DEPARTMENT Clle NO. BLUE - MAVOR � � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date 5. IN WITNESS WHEREOF, the said City of Saint Paul, Ramsey County, Minnesota, by its Council, has caused this bond to be sealed with the facsimi.le of its Official Seal to be signed by the facsimile signature of its Mayor, attested by the facsimile signature of its City Clerk, and countersigned by the facsimile signature of its Director, Department of Finance and Management Services, and re-executed by the manual signature of one of such officers , and each of the interest coupons hereto attached shall be executed by the facsimile signatures of said officers as of the first day of August, 1979. (facsimile) George Latimer Mayor Attest: (facsimile) Rose Mix City C er Countersigned: (facsimile) Bernard J. Carlson Director, Department o Finance an Mangement Services By: (S E A L ) COUNC[LMEN Yeas Nays Requested by Department of: Butler (n Fauor Hozza Hunt Levine _ __ Against BY Maddox Showalter Tedesco Form A pproved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY - By tlpproved by :Vlavor: Date Approved by Mayor for Submission to Councii By _ _ gy WNITE - CITV CLERK BLUE Y= M�oR E GITY OF SAINT PAUL Council ����L�� �CANAR DEPARTMENT � C, File N 0. ; � Council Resolution Presented By Referred To Committee: Date Out of Committee By Date 6. COUPON On the first day of February (August) , , the City of Saint Paul, Ramsey County, Minnesota, promises to pay to bearer at Chemical Bank, New York City or The First National Bank of Saint Paul � at e option o e o er, or any successor paying agent u y appointed by the City the sum shown hereon for interest then due on - its General Obligation Capital Improvement Bond, Series 1979 , dated as of August 1, 1979, No. . (facsimile) George Latimer Mayor Attest: (facsimile) Rose Mix ity Cler �- Countersigned: (facsimile) Bernard J. Carlson Director, Departmen o F nance and Management Services COUNCILMEN Yeas Nays Requested by Department of: Butler Hozza In Favor Hunt L.evine __ Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By. /#pproved by :Navor: Date _ Approved by Mayor for Submission to Couneil By — BY N�H17E - CITV CLERK /}��°.,1��� Council �`" o F PINK � — FINANCE GITY OF SAINT PAUL �CAN.ARY - DEPARTMENT File NO• BLUE -. MAVOR e � �-a Council Resolution � Presented By Referred To Committee: Date Out of Committee By Date 7. 9. The full faith and credit and taxing power of the City are hereby pledged for the prompt and full payment of both the principal and interest of said boncls; 10. The City will not make any use of the proceeds of the Bonds to be issued which, if such use had beszreasonably expected on the date of delivery of and payment for the bonds , would have caused such obliga- tions to be arbitrage bonds within the meaning of Section 103 (C) of the Internal Revenue Code and any applicable regulations promulgated thereunder; and the City will and will cause any other entity authorized to invest said bond proceeds for the City to comply with the requirements of said Section 103 (C) and all applicable regulations pertaining thereto while the bonds to be issued hereunder remain outstanding; and 11. The proceeds of said bonds shall be credited to an account hereby established and designated Capital Improvements Account of 1979. The nionies in said account shall be used and applied for the purpose prescribed by Laws 1971, Chapter 773, as amended, and the balance in sai.d account after payment of the costs of the program, if any, together with accrued interest received upon the delivery of said bonds shall be credited to the Sinking Fund Account for such obligations. COUNCILMEN Yeas Nays Requested by Department of: �er ��, [n Favor Hunt Levine _ � __ Against BY Maddox Showalter Te JUN 2 9 1979 Form Approved by City Attorney' Ado y Council: Date Certifie y ct�tary BY B� � A�pp by �Navor. _ JUL �+ '�'� Approved by Mayor for Submission to Council By BY �I�.t� JUL ? 197'9 ����� SPF�NGSTED INCORPORATED MUNICIPAL CONSULTAfvT'S � 8000SBORN BUILDING • SAINT PAUL,MINNESOTA 55102 • t612)222-4241 _ _ $4,865,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS, SERIES 1979 CITY OF SAINT PAUL, MINNESOTA AWARD: THE FIRST NATIONAL BANK OF CHICAGO � THE NORTHERN TRUST COMPANY CONTINFNTAL ILLINOIS iVATIONAL BANK AND TRUST COMPANY OF CHICAGO CHICAGO, ILLINOIS And Associates SALE: JUNE 26, 1979 Moody's Rating: Aa S & P Rating: AA Net Interest Bidder Coupons Price Cost & Rate THE FIRST NATIONAL BANK OF 6.25% 1981-82 $4,865,506.00 $1,538, 197.75 CHICAGO 6.007 1983 (5.3825y) THE NORTHERN TRUST COMPANY 5.25% 1984-86 CONTINENTAL ILLINOIS NATIONAL 5.30� 1987-89 BANR AND TRUST COMPANY OF CHICAGO Mellon Bank, N.A. E. F. Hutton & Company, Inc. The Philadelphia National Bank Mercantile Trust Company, N.A. Girard Ban1c LaSalle National Bank • Loeb Rhoades, Hornblower & Co. The Bank of California N.A. American National Bank & Trust Company Zahner and Company William Blair & Company Hutchinson, 5hockey, Erley & Co. Wm. C. Roney & Company Van Kampen Sauerman Inc. HARRIS TRUST AND SAVINGS 6.20% 1981-83 $4,865,248.00 $1,554,488.25 BANK 5.25I 1984-85 (5.4396%) BANCNORTHWEST � 5.30% 1986-87 Lehman Brothers Kuhn Loeb, 5.40% 1988-89 Incorporated John Nuveen & Co., Inc. Loeb Rhoades, Hornblower & Co. L. F. Rothschild, Unterberg, Towb in First National Bank in Dallas First Wisconsin National Bank of Milwaukee First Pennco Securities Iric. European-American Bank & Trust Company Trust Company Bank Southeast First National Bank of Miami Paine, Webber, Jackson & Curtis, Incorporated Industrial National Bank of Rhode Island J. C. Bradford & Co. United Missouri Bank of Kansas City, N.A. Bevill, Bresler & Schulman, Incorporated yfabon, Nugent & Co. American National Bank and Trust Company of Chicago Banco Popular De Puerto Rico (continued) Cowen & Co. Doft & Co. , Inc. First National Bank in Atlanta Chester Harris & Co. , Inc. Hartford National Bank & Trust Co. Legg Mason Wood Walker, Inc. Sears Bank and Trust Company Commerce Bank of Ka.nsas City, N.A. Elkins, Stroud, Suplee & Co. Ernst & Co. Frank Henjes & Company, Inc. J. A. Overton & Co. Shaughnessy & Company, Inc. Union Planters National Bank of Memphis ' MORGAN GUARANTY TRUST COMPANY 5.40% 1981-8F! $4,865,254.00 $1,555,661.00 OF NEW YORK 5.60% 1989 (5.4436%) SALOMON BROTHERS BEAR, STEARNS & C0. GOLDMAN, SACHS & C0. DONALDSON, LUFKIN & JENRETTE SECURITIES CORP. KIDDER, PEABODY & C0. 6.00% 1981-84 $4,865,592.60 $1,5b1,683.65 INCORPORATED 5.40� 1985 (5.4647%) DREXEL, BURNHAM LAI�ERT INC. 5.25% 1986 AND ASSOCIATES 5.30% 1987-88 5.40% 1989 BACHE HALSEY STUART SHIELDS 6.25% 1981-83 $4,865, 184.80 $1,567,131.45 INCORPORATED 5.625% 1984 (5.48379%�. . 5.25% 1985 5.30% 1986 5.35% 1987 5.40� 1988-89 � CITIBANK, N.A. 6.30% 1981-83 $4,865,987.50 $1,56b,700.00 THE FIRST BOSTON CORPORATION 5.60% 1984 BANK OF AMERICA, N.T. & S.A. 5.30% 1985-87 �5.4822%) United California Bank 5.40,°6 1988-89 Weeden & Co. , Inc. North Carolina National Bank Stephens, Inc. First National Bank of Boston Brown Brothers Harriman & Co. Bank of the Commonwealth The Chicago Corporation Marine National Exchange Bank Roosevelt & Cross, Inc. Rotan Mosle, Inc. Thomson McKinnon Securities, Inc. R. W. Corby, Inc. Blunt Ellis & Loewi, Inc. CHEMICAL BANK 5.40% 1981 $4,865,017.15 $1,567,555.35 BLYTH EASTMAN DILLON & CO. , 5.60% 1982-86 (5.4852%) INC. 5.35% 1987 SMITH BARNEY, HARRIS UPHAM 5.40Y 1988 & CO. , INC. 5.45% 1989