272574 WHITE �; - C�TV CLERK �
PIhK - FINANCE G I TY OF SA I NT PA U L Council ��������
GA�VA � - DEPARTMENT � .+� .l
BLt+E �� yj�AYOR File NO.
�� Council Resolution
� {
Pres ted By •�
!, Referred To Committee: Date
�i' Out of Committee By Date
' RESOLUTION ESTABLISHING A PRICING COMMITTEE TO ESTABLISH
PRELIMINARY NET INTEREST RATES AND DISCOUNT IN CONNECTION
WITH THE REVENUE BOND ISSUE FOR THE BELOW MARKET INTEREST
G RATE (BMIR) MORTGAGE LOAN PROGRAM
WflEREAS , the Council of the City of Saint Paul, by its Resolution,
' Council File No . 272537 , adopted February 20, 1979 , gave preliminary
; approval to a Below Market Interest Rate (BMIR) Mortgage Loan Program
, for the City of Saint Paul and authorized a $50 ,000,000 revenue bond
' issue to finance said Program to be sold on March 8, 1979 , upon City
Council final approval ; and
WHEREAS , in advance of said final City Council approval �f the
I, bond sale, and after receipt of the bond underwriters ' March 5 , 1979
; bond market pricing (anticipated net interest rates and discount to
� the bond underwriters ' syndicate) of the proposed issue to establish
' preliminary prices and to release the interest rate sclae for sale
� of the issue to the underwriter syndicate; and
WHEREAS , it appears desirable to establish a Pricing Committee for
� these purposes and for the purpose of making price recommendations to the
' City Council upon its consideration of the final bond issue resolution.
NOW THEREFORE, BE IT RESOLVED by the Council of the City of Saint
' Paul that a Pricing Committee consisting of the Mayor or his designee,
fthe President of the City Council or his designee, the Chair of the
'. Council Finance, Management and Personnel Committee or her designee, one
` additional member of the City Council appointed by the Council President ,
� the Director of the Department of Finance and Management Services or his
designee, and the City ' s Bond Consultant , is hereby established with
authority in consultation with the bond underwriters and City staff to
establish preliminary prices for the BMIR bond issue being the net interest
i rates
OUNCILMEN
Yeas Nays Requested by Department of:
�� Butler
Hozza In Favor
Hunt
I I.evine __ Against BY --
� Maddox
k Showalter
F TedesCO Form Approved by City Attorney
Adop �d by Council: Date �
Certi i�ed Yassed by Council Secretary BY L--- y
By ,.
E�ppr y�ed by A7avor. Date _ Approved by Mayor for Submission to Council
BY ' - — BY
„
f
MHITE .I� CiTV CLERK . 1 �,
C NARVI� DEPARTMENT GITY OF SAINT PALTL COI1flC11 �r�-���.j
B���c �, M,t�oR File N0. ^�' ��'V� ._
i� Council Resolution
Prese ��d By
�I Referred To Committee: Date
��'
Out of Committee By Date
I
-2-
�
;� on the bonds and gross spread or underwriting discount , to release
the proposed interest rate scale so established to the underwriting
N syndicate, and to make a recommendation to the City Council on
March 8 , 1979 on the net interest rates and discount for the bond issue.
�
�
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`
I
I
,
�OUNC[LMEN
Yeas i Nays Requested by Department of:
�� � Department of Planning and Economic Development
IHozza [n Favor
I Hunt r/'y��
Levine J __ Against BY
Maddox
I� Showalter
Tedesc � �, �� Form Approved by City Att ney
Adop d b ouncil: Date
Cer i, d Passe Co ecr�kary BY
�
� f`
< �,�qR 5� 19T9
tappr y 1+lavor: Dat Approv ayor for Submi sion to Council
By BY
pU8Li5w�o MAR 1 0 1979
�� ,
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t :,i�`. ;__ .{ t:,��
�:,� � _���f Oa#e ; February 26, 1979
. :`�:?:� ��.�.��'��
; C � ��l � ��T � � � � �' C� � i
i -
• -
' T O : �c�in� Paul Ci�cy Councit - .
�� O�1� = C 0 i7Z�i�7 L'� O n FINANCE, MANAGEMENT AND PERSONNEL
Ruby Hunt�; choirman, makes fihe fot to�t•liny
repori on C.F. [] Ot-dinance .
(3) [� Reso(ufion . - _ _
_ : � - . �] Ofih er � .
1 - � � . -
. �� �' t i L� : _ - . .
.The Finance Committee, at its meeting of February 26, 1979, recommended approval
' of the foliowing: � � _
'�, 1 . Resolution revising minimum qualifications �in class specifications for the �
- titles listed to allo�d� experience in any of the special technical titles to
qualit'y for examination for any of the other special technical titles inter=
� chan eabl T r � -
g y. he e are no other changes in the minimum qualifications� and no
c:han es in the riutiQ� or r �h ' � ' .
e_ onsib litip
9 _s.
r
: 2. Resolution amending Sections 2T and 39 of Civil �Service Rules to change the �
� brder of certification,- to differentiate between� those who are on a_ reinstate-
. ment list as a result of layoff and those who are on a reinstatement list
after resignation. They give present employees a higher priorit,y in certifica- -
tion to vacant positions than previous employees who have resigned and left �
' the City service. -/
.
3. Resolution estab1ishTng Pricing Committee for Below Market Interest Rate
. i ; Home Mortgage Program, b�r amending it to authorize Bernard Carlson to also
; have a designee and that an a3di o e CounciT�e aopo n ei t d.
. ;
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::i�Y Hfi[„L SE�' 'I:�I Ft.00c^. i����'�' � S:'1I�T PAUL. :��I!\\ESO'fA 55102
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-----�._--- �-- �---�- --�—------------_.—�---=--�------------�—---------------—-----_.._—-------_'_._..—--------—_.
� .
WHITE - CITY CIERK •
PINK ' - FINANCE • G I TY O F SA I NT PA U L Council
CANAR ��:- OEPARTMENT Flle NO.
BLUE -MAYOR � �
Council Resolution
Prese I�ed By
' Referred To Committee: Date
�� Out of Committee By Date
RESOLUTION ESTABLISSING A PRICING COMMITTEE TO ESTABLISH
PRELIMINARY NET INTEREST RATES AND DISCOUNT IN CONNECTION
WITH THE REVENUE BOND ISSUE FOR THE BELOW •MARKET INTEREST
RATE (BMIR) MORTGAGE LOAN PROGRAM
WHEREAS , the Council of the City of Saint Paul, by its Resolution,
Council File No. 272537, adopted February 20, 1979 , gave preliminary
iapproval to a Below Market Interest Rate (BMIR) Mortgage Loan Program
, for the City of Saint Paul and authorized a $50,000,000 revenue bond
issue to finance said Program to be sold on March 8, 1979 , upon City
Council final approval ; and
WHEREAS , in advaace of said final City Council approval of the
ibonc� sal.e, ard a�ter re.eipr of the hond u_�derwritar� ' �Iarch S , 1�79
' bond market pricing (anticipated net interest rates and discouat to
� � the bond underwriters ' sqndicate) of the proposed issue to establish
� preliminary prices and to release the interest rate sclae for sale
'lof the issue to the underwriter sqndicate; and
WHEREAS , it appears desirable to establish a Pricing Committee for
Ithese ur oses
. p p and for the purpose of making price recommeadations to the
� City Council upon its consideration of the final bond issue resolution.
NOW THEREFORE, BE IT RESOLVED by the Council of the City of Saint
Paul that a Pricing Committee consisting of the Mayor or his designee,
the P~e3:�.cieni• uf the i;itS� Council or t.is de�igne� , thc: Cl�air of tiie
iCouncil Finance, Management and Personnel Committee or her designee, one
�additional member of the City Council appointed by the Council President ,
the Director of the Department o Finance an Management Services or his
� designee, and the City ' s Bond Consultant , is hereby established with
authority in coasultation with the bond underwriters and City staff to
establish preliminary prices for the BMIR bond issue being the net interest
rates
i —
OUNCILMEN
Yeas i Nays Requested by Department of:
' Butler
I� Hozza In Favor
� Hunt
Levine A gai n s t BY
Maddox
Showalter
' Tedesco Form Approved by City Att rney
Adopt hy� Council: Date _ '
CertiE e�d Passed by� Council Secretary BY
B;
�ppro •d!d by 1+lavor. Date Approved by Mayor for Submission to Council
B�, _ BY
� �
; �'" �.11�i� ��� �,E1�.1 r.� �_t�.��. G�"[
_ " • .,� � o
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(�. � �'.~�1l! Y.'c�\ � ��!��.�'�v�i �L�� Tt���: �ii��� 'Li�l�1 Ci7L � . `���� ��
. �
� .i�`�! ! � , t'•`� °~�����
`����• �- f;' February 26, 1979
� :� ��- .,� Date :
- �,
.�
�i � i�� 3�J1 � � i � � i-i i � � �c i
I �
�' � : �ain� Paul Ciry C4uncit " -
,� .
F R O �l� = C�7t�t�7 G'� O i1 FINANCE, MANAGEMENT AND PERSONNEL _
� �
' Ruby Hunt�"�; chairman, m�kes fihe �foi lo,iiny
�
report on C.F. [� Orctinance
�� . (3) [X� Resotu�ion . -
;, -
�� , . � ' �] Other �
;; .
,
�" i�3'L� : - �
', .The Finance Committee, at its meeting of February 26, 1979, recorr�nended approval
! of the following:
' 1 . Resolution revisi�ng minimum qualifications in class specifications for the
� titles listed to allo�d' experience in any of the special technical titles to
qualify for examination for any of the other special technica7 titles inter--
chan eabl . There are no other chan es in the minimum ualifications� and no �
9 Y
9 q
I� changes in the duties or responsibilities. �
' 2. Resolution amending Sections 2T and 39 of Civil �Service Rules to change the
� order of certification,� to dif�erentiate between� those who are on a. reinstat�?-
ment list as a result of layoff and those who are on a reinstatement list
after resignation. They give present employees a higher priorit,y in certifica-
tien to vacant positions than previous employees who have resigned and left
the City service.
.
� ' 3. Resolution establishTng Pricing Committee for Below Market Interest Rate
Home Mortgage Program, by amending it to authorize Bernard Carlson to also
;
have a designee and that an aaa, o e Counci e aapoin�d.
; -.�`_-
, _
� ���'.��1 .' ��z.� �� �- ���� °s�����yl�'
G� GGz� , ..��LC ���-C ,
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•':i"IY L1. 5E�rEN'I�-f F1..DOR SAI!V'T PAU , 1��I�t�F,$O-I`A 5�10?
' . . ��,����,�
, �
__ __ _ _ _ _
__ __
_ _
WHIT II - C�TV CLERK
PINK - FINANGE G I TY O F SA-I NT PA LT L Council
CANA - DEPARTMENT File NO.
BLUE j - MAVOR �
Council Resolution
Pres d By - �
Re rred To Committee: Date
Out o ommittee By Date
RE LUTION ESTABLISSING A PRICING COMMITTEE TO ESTABLISH
PRE MINARY NET INTEREST RATES AND DISCOUNT IN CONNECTION
WITH HE REVENUE BOND ISSUE FOR THE BELOW MARKET INTEREST
RATE ( IR) MORTGAGE LOAN PROGRAM
WHEREAS , t e Council of the City of Saint Paul, by its Resolution,
Council File No . 72537 , adopted February 20, 1979 , gave preliminary
approval to a Bel Market Interest Rate (BMIR) Mortgage Loan Program
for the City of Sai t Paul and authorized a $50,000,000 revenue bond
issue to finance sai Program to be sold on March 8 , 1979 , upon City
Council final approva • and
WHEREAS , in advance of said final City Council approval of the
bond sale , and after rece pt of the bond underwriters ' March 5 , 1979
bond market pricing (antic ated net interest rates and discount to
the bond underwriters ' synd cate) of the proposed issue to establish
preliminary prices and to re� ase the interest rate scale for sale
of the issue to the underwrit g syndicate; and
WHEREAS , it appears desira le to establish a Pricing Committee
for these purposes and for the pu pose of making price recommendations
to the City Council upon its consi eration of the final bond issue
i
resolution. �,
NOW THEREFORE, BE IT RESOLVED byy'�he Council of the City of Saint
Paul that a Pricing Committee consistin of the Mayor or his designee,
�
the President of the Cit Council or his� desi nee he h ir h
Y , g , t C a of t e
Council Finance , Management and Personnel` Committee or her designee,
the Director of the Department of Finance i�nd Management Services , and
the City ' s Bond Consultant, is hereby estab]�ished with authority in
consultation with the bond underwriters and l3,ity staff, to establish
preliminary prices for the BMIR bond issue be�t�g the net interest rates
''�
, COUNCILMEN '
Yea I Nays Requested by Departme t of:
Butler In Favor De artme t t
Hozza
Hunt `
Levine - -- Against BY ��
Maddox
Showalter
Tedesco Form Approv City Atto ey
Ado d by Council: Date �
Certi ed Yassed by Council Secretary BY �
By
�1ppr ed by Nlavor: Date _ Approved by Mayor for Submission to Council
BY - – — BY
I
. �.L�'Y �tti ►�J�1.�:�r.�' �t'��..�. , ,
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,`�� /� U�� 4\' OI+'��'tCI: Q E�' T rll�: CL'C'ir Gfl 71 C?T� ~'
;. �r ,! ";_� 1;• i
. `•,i���' �it: '� ���..i � . . � . .
�;i� '.,,�� �`� �,��� D a t e • February 26, i 97�
-;.:.:::�?' �
-....
C � f� �� i`�`� � � � � Pt� �? �
.
:
�' O : �din� Pau� Cir;� �ouncil -.:
i, �R C� �I� = C O iit�11�7€'� O�l FINANCE, MANAGEMENT AND PERSONNEL .
Ruby Hunt�"�; chaifma�, m�kes fihe �otlo�:�iny
report on C.F. [� Ordinance .
, (3) � Resatu'rion � - .
. - � Oiher _
. .
�" 1�'L� : _ �
.The Finance Committee, at its meeting of February 26, 1979, recomnended approval
of the following: �
1 . Resolution revising minimum qualifications in class specifications for the �
� titles listed to allo�d� experience in any of the special technical titles to
qualify for examination for any of the other special technical titles inter-
changeably. There are no other changes in the 'minimum qualifications and no
changes in the duties or responsibilities.
.
2. . Resolution amending Sections 21 and 39 of Civil Service Rules to change the
� order of certification,� to differentiate between those who are on a reinstate-
ment list as a result of layoff and those who are on a reinstatement list
after resigna�ion. They give present employees a higher priorit,y in certifica-
tian to vacant positions than previous employees who have resigned and •left
the City service.
3. Resolution establishrng Pricing Committee for Below Market Interest Rate
. Home Mortgage Program, by amending it to authorize Bern�rd Carlson to also
. have a designee and that an additional member of the Council be appvinted.
.
::i"CY Ht1 SEVE;tiTH FLOOE2 SAI?rT PAUL, It�1I��ESO�C��. SS1U?
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