01-177��i����L
Presented By
Council File # ��� �7�
ResolutiOn #
Green Sheet # �`��g�
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA ��
Re£erred To Committee: Date
WIIEREAS:
1. The Port Authority of the City of Saint Paul (the "Port Authority") has given its approval to the
issuance of up to $11,500,000 of its revenue bonds to be issued in one or more series (collectively, the "Bonds"),
to finance the costs to be incurred by District Cooling St. Paul, Ina (the "Borrower") in connection with the
construction by the Borrower of additional distribution lines as well as the installation of a new chiller in its
facility located at 76 West Kellogg Boulevard, in the City of Saint Paul, Minnesota (the "City") and the refunding
of bonds previously issued by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(collectively the "Project"); and
lo
11 2. The Bonds are to be issued by the Port Authority pursuant to the terms of a Joint Powers Agreement
12 to be entered into between the Port Authority and the Housing and Redevelopment Authority of the City of Saint
13 Paul, Minnesota (the "HRA"), and on a parity with District Cooling Bonds previously issued by the HRA under
14 an Indenture of Tnxst dated October 1, 1991 (the "Original Indenture") between the HRA and First Trust National
15 Association (now known as U.S. Bank Trust National Association) (the "Trustee"); and
16
1� 3. Bonower has secured its obligation to repay the loans of the proceeds of the Bonds, together with
18 all bonds previously issued under the Original Indenture, by granting a first lien leasehold mortgage and security
14 interest in certain real properiy and assets of the Bonower (coliectively the "Mortgaged Property") to the Trustee
20 and executing and delivering a Leasehold Mortgage, Fixture Financing Statement and Security Agreement dated
21 as of October 1,1991 and subsequent amendments thereto in connection with the issuance ofeach series ofBonds
2z (collectively the "Bond Mortgage"); and
23
24 4. In connection with the issuance of other series of revenue bonds pursuant to the Original Indenture,
25 the City has previously authorized and executed a Subordination and Nondisturbance Agreement dated as of
26 October 1, 1991 (the "City Subordination"), pursuant to wl�ich the City has subardinated the liens and security
2� interests granted in the City Mortgage, Fixture Financing Statement and Security Agreement dated as of
z8 December l, 1982 (the "City Mortgage") executed by District Heating to secure amounts payable under the City
29 Loan Agreement dated as of December 1, 1982 (the "City Loan Agreement") to the rights of the Trustee under
30 the Bond Mortgage; and
31
32 5. The HRA made a loan in the amount of $3,000,000 to the Bonrower concurrently with the 1991
33 issuance of Bonds pursuant to the Original Indenture (the "HRA Loan"), and the Borrower has secw'ed its
34 obligations to repay the Hf2A Loan by granting a leasehold mortgage Lien and security interest in the Mortgaged
35 Property and other District Cooling system equipment, by executing and delivering a Mortgage, Fixture Financing
36
s�
38
o t -t'1�
Statement and Security Agreement dated as of October 1, 1991 between the Bonower, as Mortgagor, and the
HRA as Mortgagee (the "HRA Mortgage"); and
39 6. The HRA has subordinated the lien and encumbrance of the IIRA Mortgage to the rights of the
40 Trustee under the Bond Mortgage pursuant to the IIRA Mortgage itself, and HRA Subordination Agreements
a1 dated as of Mazch l, 1993, September 1, 1995 and June 1, 1998 (collectively, together with the HRA
42 SubordinationAgreementexecutedinconnectionwiththeissuanceoftheBonds,the"IIRASubordination");and
43
44
45
46
47
48
49
50
The I IRA has adopted its resolution authorizing the execution of an HRA Subordinarion Agreement
in connection with the issuance of the Bonds; and
8. The I-IRA has assigned all of its rights to the repayment of the FIRA Loan to the City pursuant to
the Special Fund Agreement dated as of January 1, 1998 and entered into by and between the City and the HRA;
and
51 9. It is necessary and desirable for the City to recognize that the subordination provided by the City
52 Subordination Agreement applies to the Bonds issued by the Port Authority, as well as any other bonds issued
53 pursuant to the Original Indenture, whether by the Port AuthoriTy or the HRA; and
54
55 1 Q It is fiuther necessary and desirable for the Ciiy to recognize that the subordination of the HRA
56 Loan provided by the HRA Mortgage and subsequent HRA Subordination Agreements is approved by the City
5� as the assignee of the HRA's rights under the HRA Loan; and
58
59 11. Minnesota Statutes, Chapter 469.084(11), provides that any issue ofrevenue bonds authorized by
60 the Port Authority shall be issued only with the consent of the City Council of the City of Saint Paul, by
61 resolution adopted in accordance with law; and
62
63 12. To meet the requirements of state law, the Port Authority has requested that the City Council gives
6a its requisite approval to the issuance of the proposed Bonds by the Port Authority, subject to final approval of
65 the details of said Bonds by the Port Authority; and
66
67 13. A public hearing on the Project was held by the Port Authority after notice was published, and
68 materials made available for public inspection at the offices of the Port Authority, as required by Section 147( fl
69 ofthe Internal Revenue Code of 1986, as amended (the "Code"), at which public heazing all those appearing who
7o so desired to speak were heard.
71
72 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul as follows:
73
74 1. In accordance with the requirements of Minnesota Statutes 469.084(11) and Section 147(fl of the
75 Code, the City Council hereby approves the issuance of the aforesaid Bonds by the Port Authority for the
76 purposes described in the Port Authority resolution adopted February 27, 2001, the exact details of which,
77 including but not limited to, provisions relating to maturities, interest rates, discount, redemption, and the issuance
78 of additional bonds are to be determined by the Port Authority, and the City Council hereby authorizes the
79 issuance of any additional bonds (including refunding bonds) by the Port Authority found by the Port Authority
8� to be necessary for carrying out the purposes for which the aforedescribed Bonds aze issued.
81
82
83
o i-��
84 2. The City hereby finds that the subordinarion effected by the City Subordination Agreement is
85 effective to subordinate the liens and security interests of the City under the City Mortgage to the liens and
86 securiTy interests securing all bonds issued under the Original Indenture, whether such bonds aze issued by the
87 Port Authority or the HI2A, including specifically the Bonds.
88
s9 3. The City hereby ratifies and approves the HRA Subordination effected in connection with the
90 issuance of the Bonds and prior revenue bonds issued pursuant to the Original Indenture.
��������
Requested by Department of:
Plannin & Economi Develo ment
$Y �
Adoption
Form Approved by City ey
Certified by Council Secretary BY�
By:
� �A �--
/ Approved by Mayor for Suhmission to Council
Approved by Mayor: Date � ' �
By: BY
Adopted by Council: Date � ��� �►pp �
DEPAR'lMENT/OFFICE/COUNCIT.:
PED
CONTACCPERSON & PHONE:
David Gontarek
NNST BE ON COUNCII. AGENDA BY (DATE)
Feb. 28,2001
D "'� �'�'`"� GREEN SHEET
2-15-OI
T,�V
� _DEPARTMEN'I" DIIt�l
ASSIGN _CITYATTORNEY_2�
iV[JrylgEg £INANCIAI, SERV DIIL
FO$ _�+P�R (OR ASST.) 4
ROI7TING COMivIISSION
ORDER
No.:110181 O � — ( 7?
INI1'IAI,/DATE
_ CITY COUNCIL 3
_ CITY CLERK
FINANCIAL SERV/ACCTG
_ CIVII, SERVICE
TOTAL # OF SIGNATORE PAGES (CLIP ALL LOCATIONS FOR
ncriox �QUESa�n: Approval of Resolufion anthorizing District Cooling Bonds
RECOMIvIENDATIONS: Approve (A) or RejeM (A)
PLANARNG COMA9SSION
CIB COMMITTEE
CIVlL SERVICE COMMiSSION
PERSONAL SERVICE CO1V1'RAC15 M[IST ANSNER THE FOLLOWING
QUESTIONS:
1. Has this person/fum ever worked vnder a contract for th�s depar[ment?
Yes No
2. Has this persoNfirm ever been a ciry employee?
Yes No
3. Dces ihis person/firm possess a skill mt normalty possessed by any cunent ciry employee?
Yes No
Explain a)I yes answers on separate sheet and aitach !o greeo sheet
INITI.ATING PROBLEM, TSSUE, OPPORTUNITY (Who, WhaS k'hen, Where, Why):
To a11ow the Port Authority to issue $11,500,000 of Bonds for District Cooling, Inc. These Bonds are for a new
cooling line and refunding. The resolution allows previous (current) debt to be subordinated to this issue. The
HRA approved the funding struture at it's February 14, 2001 meeting.
ADVANTAGESIPAPPROVED:
District Cooling expands iYs lines and improves iYs financa�position.
DISADVANTAGESIFAPPROVED;
None
DISADVANTAGES IP NOT APPROVED:
Does not complete the pxoject.
TOTAL AMOi7NT OF TRANSACITON: �$11,500,000 Port Conduit bonds.
FUNDING SOURCE: Bonds
FINANCL4L INFORAZATION: (EYPLAi11�
COSTBEVENiIE BLTDC:ETED:O
ACTR'TCY N[IMBER:
�" = :, � � ���1
��i����L
Presented By
Council File # ��� �7�
ResolutiOn #
Green Sheet # �`��g�
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA ��
Re£erred To Committee: Date
WIIEREAS:
1. The Port Authority of the City of Saint Paul (the "Port Authority") has given its approval to the
issuance of up to $11,500,000 of its revenue bonds to be issued in one or more series (collectively, the "Bonds"),
to finance the costs to be incurred by District Cooling St. Paul, Ina (the "Borrower") in connection with the
construction by the Borrower of additional distribution lines as well as the installation of a new chiller in its
facility located at 76 West Kellogg Boulevard, in the City of Saint Paul, Minnesota (the "City") and the refunding
of bonds previously issued by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(collectively the "Project"); and
lo
11 2. The Bonds are to be issued by the Port Authority pursuant to the terms of a Joint Powers Agreement
12 to be entered into between the Port Authority and the Housing and Redevelopment Authority of the City of Saint
13 Paul, Minnesota (the "HRA"), and on a parity with District Cooling Bonds previously issued by the HRA under
14 an Indenture of Tnxst dated October 1, 1991 (the "Original Indenture") between the HRA and First Trust National
15 Association (now known as U.S. Bank Trust National Association) (the "Trustee"); and
16
1� 3. Bonower has secured its obligation to repay the loans of the proceeds of the Bonds, together with
18 all bonds previously issued under the Original Indenture, by granting a first lien leasehold mortgage and security
14 interest in certain real properiy and assets of the Bonower (coliectively the "Mortgaged Property") to the Trustee
20 and executing and delivering a Leasehold Mortgage, Fixture Financing Statement and Security Agreement dated
21 as of October 1,1991 and subsequent amendments thereto in connection with the issuance ofeach series ofBonds
2z (collectively the "Bond Mortgage"); and
23
24 4. In connection with the issuance of other series of revenue bonds pursuant to the Original Indenture,
25 the City has previously authorized and executed a Subordination and Nondisturbance Agreement dated as of
26 October 1, 1991 (the "City Subordination"), pursuant to wl�ich the City has subardinated the liens and security
2� interests granted in the City Mortgage, Fixture Financing Statement and Security Agreement dated as of
z8 December l, 1982 (the "City Mortgage") executed by District Heating to secure amounts payable under the City
29 Loan Agreement dated as of December 1, 1982 (the "City Loan Agreement") to the rights of the Trustee under
30 the Bond Mortgage; and
31
32 5. The HRA made a loan in the amount of $3,000,000 to the Bonrower concurrently with the 1991
33 issuance of Bonds pursuant to the Original Indenture (the "HRA Loan"), and the Borrower has secw'ed its
34 obligations to repay the Hf2A Loan by granting a leasehold mortgage Lien and security interest in the Mortgaged
35 Property and other District Cooling system equipment, by executing and delivering a Mortgage, Fixture Financing
36
s�
38
o t -t'1�
Statement and Security Agreement dated as of October 1, 1991 between the Bonower, as Mortgagor, and the
HRA as Mortgagee (the "HRA Mortgage"); and
39 6. The HRA has subordinated the lien and encumbrance of the IIRA Mortgage to the rights of the
40 Trustee under the Bond Mortgage pursuant to the IIRA Mortgage itself, and HRA Subordination Agreements
a1 dated as of Mazch l, 1993, September 1, 1995 and June 1, 1998 (collectively, together with the HRA
42 SubordinationAgreementexecutedinconnectionwiththeissuanceoftheBonds,the"IIRASubordination");and
43
44
45
46
47
48
49
50
The I IRA has adopted its resolution authorizing the execution of an HRA Subordinarion Agreement
in connection with the issuance of the Bonds; and
8. The I-IRA has assigned all of its rights to the repayment of the FIRA Loan to the City pursuant to
the Special Fund Agreement dated as of January 1, 1998 and entered into by and between the City and the HRA;
and
51 9. It is necessary and desirable for the City to recognize that the subordination provided by the City
52 Subordination Agreement applies to the Bonds issued by the Port Authority, as well as any other bonds issued
53 pursuant to the Original Indenture, whether by the Port AuthoriTy or the HRA; and
54
55 1 Q It is fiuther necessary and desirable for the Ciiy to recognize that the subordination of the HRA
56 Loan provided by the HRA Mortgage and subsequent HRA Subordination Agreements is approved by the City
5� as the assignee of the HRA's rights under the HRA Loan; and
58
59 11. Minnesota Statutes, Chapter 469.084(11), provides that any issue ofrevenue bonds authorized by
60 the Port Authority shall be issued only with the consent of the City Council of the City of Saint Paul, by
61 resolution adopted in accordance with law; and
62
63 12. To meet the requirements of state law, the Port Authority has requested that the City Council gives
6a its requisite approval to the issuance of the proposed Bonds by the Port Authority, subject to final approval of
65 the details of said Bonds by the Port Authority; and
66
67 13. A public hearing on the Project was held by the Port Authority after notice was published, and
68 materials made available for public inspection at the offices of the Port Authority, as required by Section 147( fl
69 ofthe Internal Revenue Code of 1986, as amended (the "Code"), at which public heazing all those appearing who
7o so desired to speak were heard.
71
72 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul as follows:
73
74 1. In accordance with the requirements of Minnesota Statutes 469.084(11) and Section 147(fl of the
75 Code, the City Council hereby approves the issuance of the aforesaid Bonds by the Port Authority for the
76 purposes described in the Port Authority resolution adopted February 27, 2001, the exact details of which,
77 including but not limited to, provisions relating to maturities, interest rates, discount, redemption, and the issuance
78 of additional bonds are to be determined by the Port Authority, and the City Council hereby authorizes the
79 issuance of any additional bonds (including refunding bonds) by the Port Authority found by the Port Authority
8� to be necessary for carrying out the purposes for which the aforedescribed Bonds aze issued.
81
82
83
o i-��
84 2. The City hereby finds that the subordinarion effected by the City Subordination Agreement is
85 effective to subordinate the liens and security interests of the City under the City Mortgage to the liens and
86 securiTy interests securing all bonds issued under the Original Indenture, whether such bonds aze issued by the
87 Port Authority or the HI2A, including specifically the Bonds.
88
s9 3. The City hereby ratifies and approves the HRA Subordination effected in connection with the
90 issuance of the Bonds and prior revenue bonds issued pursuant to the Original Indenture.
��������
Requested by Department of:
Plannin & Economi Develo ment
$Y �
Adoption
Form Approved by City ey
Certified by Council Secretary BY�
By:
� �A �--
/ Approved by Mayor for Suhmission to Council
Approved by Mayor: Date � ' �
By: BY
Adopted by Council: Date � ��� �►pp �
DEPAR'lMENT/OFFICE/COUNCIT.:
PED
CONTACCPERSON & PHONE:
David Gontarek
NNST BE ON COUNCII. AGENDA BY (DATE)
Feb. 28,2001
D "'� �'�'`"� GREEN SHEET
2-15-OI
T,�V
� _DEPARTMEN'I" DIIt�l
ASSIGN _CITYATTORNEY_2�
iV[JrylgEg £INANCIAI, SERV DIIL
FO$ _�+P�R (OR ASST.) 4
ROI7TING COMivIISSION
ORDER
No.:110181 O � — ( 7?
INI1'IAI,/DATE
_ CITY COUNCIL 3
_ CITY CLERK
FINANCIAL SERV/ACCTG
_ CIVII, SERVICE
TOTAL # OF SIGNATORE PAGES (CLIP ALL LOCATIONS FOR
ncriox �QUESa�n: Approval of Resolufion anthorizing District Cooling Bonds
RECOMIvIENDATIONS: Approve (A) or RejeM (A)
PLANARNG COMA9SSION
CIB COMMITTEE
CIVlL SERVICE COMMiSSION
PERSONAL SERVICE CO1V1'RAC15 M[IST ANSNER THE FOLLOWING
QUESTIONS:
1. Has this person/fum ever worked vnder a contract for th�s depar[ment?
Yes No
2. Has this persoNfirm ever been a ciry employee?
Yes No
3. Dces ihis person/firm possess a skill mt normalty possessed by any cunent ciry employee?
Yes No
Explain a)I yes answers on separate sheet and aitach !o greeo sheet
INITI.ATING PROBLEM, TSSUE, OPPORTUNITY (Who, WhaS k'hen, Where, Why):
To a11ow the Port Authority to issue $11,500,000 of Bonds for District Cooling, Inc. These Bonds are for a new
cooling line and refunding. The resolution allows previous (current) debt to be subordinated to this issue. The
HRA approved the funding struture at it's February 14, 2001 meeting.
ADVANTAGESIPAPPROVED:
District Cooling expands iYs lines and improves iYs financa�position.
DISADVANTAGESIFAPPROVED;
None
DISADVANTAGES IP NOT APPROVED:
Does not complete the pxoject.
TOTAL AMOi7NT OF TRANSACITON: �$11,500,000 Port Conduit bonds.
FUNDING SOURCE: Bonds
FINANCL4L INFORAZATION: (EYPLAi11�
COSTBEVENiIE BLTDC:ETED:O
ACTR'TCY N[IMBER:
�" = :, � � ���1
��i����L
Presented By
Council File # ��� �7�
ResolutiOn #
Green Sheet # �`��g�
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA ��
Re£erred To Committee: Date
WIIEREAS:
1. The Port Authority of the City of Saint Paul (the "Port Authority") has given its approval to the
issuance of up to $11,500,000 of its revenue bonds to be issued in one or more series (collectively, the "Bonds"),
to finance the costs to be incurred by District Cooling St. Paul, Ina (the "Borrower") in connection with the
construction by the Borrower of additional distribution lines as well as the installation of a new chiller in its
facility located at 76 West Kellogg Boulevard, in the City of Saint Paul, Minnesota (the "City") and the refunding
of bonds previously issued by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(collectively the "Project"); and
lo
11 2. The Bonds are to be issued by the Port Authority pursuant to the terms of a Joint Powers Agreement
12 to be entered into between the Port Authority and the Housing and Redevelopment Authority of the City of Saint
13 Paul, Minnesota (the "HRA"), and on a parity with District Cooling Bonds previously issued by the HRA under
14 an Indenture of Tnxst dated October 1, 1991 (the "Original Indenture") between the HRA and First Trust National
15 Association (now known as U.S. Bank Trust National Association) (the "Trustee"); and
16
1� 3. Bonower has secured its obligation to repay the loans of the proceeds of the Bonds, together with
18 all bonds previously issued under the Original Indenture, by granting a first lien leasehold mortgage and security
14 interest in certain real properiy and assets of the Bonower (coliectively the "Mortgaged Property") to the Trustee
20 and executing and delivering a Leasehold Mortgage, Fixture Financing Statement and Security Agreement dated
21 as of October 1,1991 and subsequent amendments thereto in connection with the issuance ofeach series ofBonds
2z (collectively the "Bond Mortgage"); and
23
24 4. In connection with the issuance of other series of revenue bonds pursuant to the Original Indenture,
25 the City has previously authorized and executed a Subordination and Nondisturbance Agreement dated as of
26 October 1, 1991 (the "City Subordination"), pursuant to wl�ich the City has subardinated the liens and security
2� interests granted in the City Mortgage, Fixture Financing Statement and Security Agreement dated as of
z8 December l, 1982 (the "City Mortgage") executed by District Heating to secure amounts payable under the City
29 Loan Agreement dated as of December 1, 1982 (the "City Loan Agreement") to the rights of the Trustee under
30 the Bond Mortgage; and
31
32 5. The HRA made a loan in the amount of $3,000,000 to the Bonrower concurrently with the 1991
33 issuance of Bonds pursuant to the Original Indenture (the "HRA Loan"), and the Borrower has secw'ed its
34 obligations to repay the Hf2A Loan by granting a leasehold mortgage Lien and security interest in the Mortgaged
35 Property and other District Cooling system equipment, by executing and delivering a Mortgage, Fixture Financing
36
s�
38
o t -t'1�
Statement and Security Agreement dated as of October 1, 1991 between the Bonower, as Mortgagor, and the
HRA as Mortgagee (the "HRA Mortgage"); and
39 6. The HRA has subordinated the lien and encumbrance of the IIRA Mortgage to the rights of the
40 Trustee under the Bond Mortgage pursuant to the IIRA Mortgage itself, and HRA Subordination Agreements
a1 dated as of Mazch l, 1993, September 1, 1995 and June 1, 1998 (collectively, together with the HRA
42 SubordinationAgreementexecutedinconnectionwiththeissuanceoftheBonds,the"IIRASubordination");and
43
44
45
46
47
48
49
50
The I IRA has adopted its resolution authorizing the execution of an HRA Subordinarion Agreement
in connection with the issuance of the Bonds; and
8. The I-IRA has assigned all of its rights to the repayment of the FIRA Loan to the City pursuant to
the Special Fund Agreement dated as of January 1, 1998 and entered into by and between the City and the HRA;
and
51 9. It is necessary and desirable for the City to recognize that the subordination provided by the City
52 Subordination Agreement applies to the Bonds issued by the Port Authority, as well as any other bonds issued
53 pursuant to the Original Indenture, whether by the Port AuthoriTy or the HRA; and
54
55 1 Q It is fiuther necessary and desirable for the Ciiy to recognize that the subordination of the HRA
56 Loan provided by the HRA Mortgage and subsequent HRA Subordination Agreements is approved by the City
5� as the assignee of the HRA's rights under the HRA Loan; and
58
59 11. Minnesota Statutes, Chapter 469.084(11), provides that any issue ofrevenue bonds authorized by
60 the Port Authority shall be issued only with the consent of the City Council of the City of Saint Paul, by
61 resolution adopted in accordance with law; and
62
63 12. To meet the requirements of state law, the Port Authority has requested that the City Council gives
6a its requisite approval to the issuance of the proposed Bonds by the Port Authority, subject to final approval of
65 the details of said Bonds by the Port Authority; and
66
67 13. A public hearing on the Project was held by the Port Authority after notice was published, and
68 materials made available for public inspection at the offices of the Port Authority, as required by Section 147( fl
69 ofthe Internal Revenue Code of 1986, as amended (the "Code"), at which public heazing all those appearing who
7o so desired to speak were heard.
71
72 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul as follows:
73
74 1. In accordance with the requirements of Minnesota Statutes 469.084(11) and Section 147(fl of the
75 Code, the City Council hereby approves the issuance of the aforesaid Bonds by the Port Authority for the
76 purposes described in the Port Authority resolution adopted February 27, 2001, the exact details of which,
77 including but not limited to, provisions relating to maturities, interest rates, discount, redemption, and the issuance
78 of additional bonds are to be determined by the Port Authority, and the City Council hereby authorizes the
79 issuance of any additional bonds (including refunding bonds) by the Port Authority found by the Port Authority
8� to be necessary for carrying out the purposes for which the aforedescribed Bonds aze issued.
81
82
83
o i-��
84 2. The City hereby finds that the subordinarion effected by the City Subordination Agreement is
85 effective to subordinate the liens and security interests of the City under the City Mortgage to the liens and
86 securiTy interests securing all bonds issued under the Original Indenture, whether such bonds aze issued by the
87 Port Authority or the HI2A, including specifically the Bonds.
88
s9 3. The City hereby ratifies and approves the HRA Subordination effected in connection with the
90 issuance of the Bonds and prior revenue bonds issued pursuant to the Original Indenture.
��������
Requested by Department of:
Plannin & Economi Develo ment
$Y �
Adoption
Form Approved by City ey
Certified by Council Secretary BY�
By:
� �A �--
/ Approved by Mayor for Suhmission to Council
Approved by Mayor: Date � ' �
By: BY
Adopted by Council: Date � ��� �►pp �
DEPAR'lMENT/OFFICE/COUNCIT.:
PED
CONTACCPERSON & PHONE:
David Gontarek
NNST BE ON COUNCII. AGENDA BY (DATE)
Feb. 28,2001
D "'� �'�'`"� GREEN SHEET
2-15-OI
T,�V
� _DEPARTMEN'I" DIIt�l
ASSIGN _CITYATTORNEY_2�
iV[JrylgEg £INANCIAI, SERV DIIL
FO$ _�+P�R (OR ASST.) 4
ROI7TING COMivIISSION
ORDER
No.:110181 O � — ( 7?
INI1'IAI,/DATE
_ CITY COUNCIL 3
_ CITY CLERK
FINANCIAL SERV/ACCTG
_ CIVII, SERVICE
TOTAL # OF SIGNATORE PAGES (CLIP ALL LOCATIONS FOR
ncriox �QUESa�n: Approval of Resolufion anthorizing District Cooling Bonds
RECOMIvIENDATIONS: Approve (A) or RejeM (A)
PLANARNG COMA9SSION
CIB COMMITTEE
CIVlL SERVICE COMMiSSION
PERSONAL SERVICE CO1V1'RAC15 M[IST ANSNER THE FOLLOWING
QUESTIONS:
1. Has this person/fum ever worked vnder a contract for th�s depar[ment?
Yes No
2. Has this persoNfirm ever been a ciry employee?
Yes No
3. Dces ihis person/firm possess a skill mt normalty possessed by any cunent ciry employee?
Yes No
Explain a)I yes answers on separate sheet and aitach !o greeo sheet
INITI.ATING PROBLEM, TSSUE, OPPORTUNITY (Who, WhaS k'hen, Where, Why):
To a11ow the Port Authority to issue $11,500,000 of Bonds for District Cooling, Inc. These Bonds are for a new
cooling line and refunding. The resolution allows previous (current) debt to be subordinated to this issue. The
HRA approved the funding struture at it's February 14, 2001 meeting.
ADVANTAGESIPAPPROVED:
District Cooling expands iYs lines and improves iYs financa�position.
DISADVANTAGESIFAPPROVED;
None
DISADVANTAGES IP NOT APPROVED:
Does not complete the pxoject.
TOTAL AMOi7NT OF TRANSACITON: �$11,500,000 Port Conduit bonds.
FUNDING SOURCE: Bonds
FINANCL4L INFORAZATION: (EYPLAi11�
COSTBEVENiIE BLTDC:ETED:O
ACTR'TCY N[IMBER:
�" = :, � � ���1