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WH17E — CI TV CLERK '� ��.�,7�
PINK — FINANCE ' COUIICI! ;
CANARV — DEPARTMENT � GITY O�� SAINT PAUL File NO.
BLI�E r —.wAVOR r .Q�v���,
L�
e �• \1 A
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Presented By ,
Referred To Committee: Date
Out of Committee By Date
2.
RESOLVED, ',By the Council of the City of Saint Paul, that in
accordance with Laws of Minnesota 1976, Chapter 234, the City Council
hereby consents �o the issuance of the aforesaid revenue bonds for
the purposes desctribed in the aforesaid Port Authority Resolution No.
1462, the exact aetails of which, including, but not limited to, pro-
visions relating ,to maturities, interest rates, discount, redemption,
and 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 bor�ds are issued.
COUIVCILMEN Requested by Department of:
Yeas Nays �
Butler
� [n Favor
Hunt
Levine � Against BY
Maddox
Showalter
Tedesco
Adopted by Council: Date � 2 4 �� Form Approved by City Attorney
Certified P y Council t y BY
By
A d by Mayor: Date
' � � 2 7 �979 Approved by Mayor for Submission to Council
B By
rUB�sH€D MAY 5 i979
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.� �=�:�:�=�ouncil Resolutic�::::�: ��,��,;�
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:Presented B�� •
Referred To Committee: . Date
Out of Committee By Date
k'HEREAS: �
1 . On March 6, 1979, the Port Authority of the City of Saint Paul adopted Resolution
No. 1462, giving preliminary.approval to the issuance of revenue bonds in the initial .
principal amount of approximately $1 ,000,000 to complete the financing of the Radisson .
Plaza Hotel atap the Port Autharity financed parking ramp being constructed on Block A .
by tha St. Paul Joint Venture. •
2. Laws of Minnesota 1976, Chapter 234, provides that any issue of revenue bands •
autho rized by the Part Authority of the City of Saint Paul , shall be issued only with the
conssnt of the City Council of the City of Saint Paul , by resolution adopted in accordance
with �aw; �
3, The Port Autharity 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
de�ails �f �a:� issua 5y the °or� Aut:�ority of the City or Saint Pa!�1 .
4. It is estimated that the initial principal amount of said bonds will be approxi-
:r�tely $1 ,00�,000 and that the net interest cost applicable to said issue will not exceed 8A;
now, there`ore, be it
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 �esolutioi
No, 1462 in the initial principal amount af $1 ,000,000 at a net interest cost of not to
exceed 8�, the exact details of which, including, but not limited to, provisians relating
to rra turities, interest rates, discount, redemption, and for the issuance of additional
��r,u3 �re t: :�e :et:r.air,Ad by �he P�r� Au�hcrit3�, �ur�u�:�t to ra�olu:.�cr. �d�rt�d Cy th�
Fart Autharity, 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 bands are issued.
COU�C1L1iE":
�'eas Na}•s � Requested by Department of: -
Butler
Hozza In Fa��or -
�:,..:.� _j
Le��ine � Against BY "
Roedler
S};��ester �
�� �` 8 ��'t'� I Form Approved by City Attorney ' �
1C__._� - '��::�ci Date � .
CP- ._.. 'r=a,« Co�nci'. ��cretat}• I B}• c?17 , .
B, � i � .
=, � ,. b.� 11c��or: D��. , ig7g I Approved bv !�tayor for Submission Council -
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