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01-180�g�rti�s,�� Presented By Green Sheet # ��.1.��1 2 � Referred To Council File # �� Resolution # NT Committee: Date �� RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDED t1ND RESTATED PLEDGE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF PARKING REFUNDING REUENLJE BONDS, SERIES 2001A (RIVERCENTRE EXHIBIT HALL RANIP) AND RELATED BUDGET AMENDMENT WHEREAS, 8 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") has 9 heretofore adopted its General Revenue Bond Resolution No. 95-6/14-1 (the "General Revenue Bond 10 Resolution") authorizing the issuance of certain revenue bonds of the Authority to finance certain public 11 parking facilities. 12 13 2. The Authority proposes to issue its Parking Revenue Refunding Bonds, Series 2001A (RiverCentre 14 Parldng Ramp) in the approximate principal amount of $6,800,000 (the "Series 2001A Bonds") pursuant to 15 the General Bond Resolution and Third 5upplemental Bond Resolution to provide funds for a current 16 refunding of the Authority's Parking Revenue Parking Revenue Bonds, Series 1995B, which were issued to 17 provide funds to finance a parking ramp commonly known as the Kellogg Exhibit Hall Parking Ramp. 18 19 3. Pursuant to the terms of a proposed Amended and Restated Pledge Agreement dated March 1, 2001, 20 (the "Pledge Agreement") by and between the City and the Authority, the City will pledge certain sums held 21 in the Parking and Transit Fund to the Authority for the benefit of the holders of the Series 2001A Bonds, and 22 certain other parking revenue bonds heretofore issued by the Authority. 23 24 4. Pursuant to a separate Bond Purchase Agreement (the "Bond Purchase Agreement"), by and among 25 the Authority and Mi11er Johnson Steichen Kinnard, Inc. (the "Purchaser"), the Purchaser has agreed to 26 purchase the Series 2001A Bonds. 27 28 29 30 31 32 33 34 35 36 37 38 5. The form of the Pledge Agreement has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of Yhe same. RESOLVED: 1. The City Council hereby approves and authorizes the Mayor, D'uector, Department of Planning and Economic Development and Director, Office of Financial Services to execute the Pledge Agreement in substantially the form submitted. Any other documents, agreements and certificates necessary for the issuance for the Series 2001A Bonds shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fiimish o � _ 1�p 39 certified copies of all proceedings and records of the City relating to the transaction described above, and 40 such other affidavits and legality of the Pledge Agreement as such facts appear from the books and recards in 41 the officers' custody and control of as otherwise known to them; and all such certified copies, certificates and 42 affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of ail 43 statements contained therein. 44 45 3. The approval hereby given to the Pledge Agreement includes approval of such additional details 46 therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 and appropriate and be approved by the Ciry's staff, City Attomey and Bond Counsel prior to their execurion; said staff, City Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereof. In the absence of the Mayor, Director, Department of Plamiing and Economic Development and Director, Office of Financial Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. 4. The Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation $10,648 in funds in excess of those estimated in the 2001 budget and the City Council of Saint Paul adopts the following changes to the 2001 budget: FINANCING PLAN 130 Pazking & Transit Fund GL-130-36100-3705 Fine Revenue GL-130-36102-5239 Block 7A Ramp Revenue GL-130-36100-9831 Contriburionto Fund Balance 001 General Fund GL-001-00000-3705 Fine Revenue GL-001-06000-7305 Transfer &om Parking & Transit Fund Current Budeet Chanees Amended Budeet $ 10,648 $1,000,000 (ioo,000) 600,000 100,000 (260,600) (10,648) 2,189,352 10,648 1,331,596 $ 10,648 10,648 10,648 $ 10,648 $989,352 700,000 (36Q600) 2,200,000 1,320,948 Total Changes to Financing Plan SPENDING PLAN 130 Parking & Transit Fund GL-130-36122-0557 Transfer to Genexal Fund 0 Total Changes to Spending Plan Total Capital Repair and Replacement Reseroe at 2001A Bonds Closing is $860,737. Reguested by Department of: Plannin & Economic evelo ment � I By: �w n Form Approved by City �Orney Adopted by Council: Date �,, ar s 0 O� � � i Adoption Certified by Council Secr By� ' Br � \�� ''�1•—.--1'� r� eKM`0��` �� '+�� .i0 Fina cial Se ices i ector Approved by Mayor: Date _!��L�oli'/ APProved by Mayor for Submission to Council By: _____ ��(i� � �� By: u DEPARTMENT/OFFICE/COUNCIL: DATE INITIATED GREEN SHEET NO.: IOLI�JL Plauning & Economic Dev. February 15, 2001 O\—\YQ CONTACf PERSON & PHONE: miTTn�✓D uv�TTai✓nA7'e ToddHurley 6-8837 � 1 PEDDm�crox s ci�coutacn. BE OUNCII, AGENDA BY (DATE) �IGN 2 Cl'1'Y AITORNEY _ C[TY CLERK 4 FINANCIAL SERV/A Z�ZHIOl p� 3 MAYOR(ORASST.) ROi7TING ORDER � TOTAL # OF SIGNA'RIAE PAGES _1_(CLIP ALL LOCATIONS FOR SIGNAI'URE) acnox �QUESZEn: City Council Resolution authorizing Execution of an Amended and Restated Pledge Agreement in connection with the issuance of FIRA Pazking Refunding Bonds, Series 2001A (Kellogg E�chibit Hall). RECOIvIIvIENDATIONS: Approve (A) or Reject (R) PERSONAL SERVICE CONTRACTS Mi1ST ANSWER Tf� FOLLOWING QUESTIONS: PLANNING COMMISSION 1. Hu this person/firm ever worked under a wntract for this department? CIB WMbIITTEE Yes No CIVIL SERVICE COMMISSION 2. Has this person/firm ever been a ciTy employee? Yes No � 3. Does this person/fi�m possess a skill not normally possessed by any cu�rent city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet ' INITIAI'ING PROBLEM, ISSUE, OPPOR'f'UN11'Y (Who, What, When, Wherq Why): , On Febnxary 28, 2001, the HRA is considering final issuance of approximately $6.8 million of refunding bonds to : take advantage of the current low fixed rate interest environment. The City needs to continue to pledge the Parking and Transit Fund to secure this debt through a Pledge Agreement. The IIRA approved preliminary authorization to issue in O1-02/14-7. ADVANTAGES IF APPROVED: Low, long-term fixed rate debt will be issued by the HRA. DISADVANTAGESIFAPPROVED: � None DISADVANTAGES IF NOT APPROVED: Refunding will not proceed. TOTAI. AMOUNT OF TI2ANSACTION: $6,80Q000 COST/REVENUE BUDGET:.'D: Yes NIJNDING SOURCE: HRA Resoluflon F139 & P& T�nd F130. /�� AC'CIVIT'P NUMBER: FINANCL4L INFORMATION: (EXPLAIN) � � �b�� , atCh Ce�?tnt° K �ShazMW�PULVER�geenshtbobg5 0216 01 wpd " ��2001 �g�rti�s,�� Presented By Green Sheet # ��.1.��1 2 � Referred To Council File # �� Resolution # NT Committee: Date �� RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDED t1ND RESTATED PLEDGE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF PARKING REFUNDING REUENLJE BONDS, SERIES 2001A (RIVERCENTRE EXHIBIT HALL RANIP) AND RELATED BUDGET AMENDMENT WHEREAS, 8 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") has 9 heretofore adopted its General Revenue Bond Resolution No. 95-6/14-1 (the "General Revenue Bond 10 Resolution") authorizing the issuance of certain revenue bonds of the Authority to finance certain public 11 parking facilities. 12 13 2. The Authority proposes to issue its Parking Revenue Refunding Bonds, Series 2001A (RiverCentre 14 Parldng Ramp) in the approximate principal amount of $6,800,000 (the "Series 2001A Bonds") pursuant to 15 the General Bond Resolution and Third 5upplemental Bond Resolution to provide funds for a current 16 refunding of the Authority's Parking Revenue Parking Revenue Bonds, Series 1995B, which were issued to 17 provide funds to finance a parking ramp commonly known as the Kellogg Exhibit Hall Parking Ramp. 18 19 3. Pursuant to the terms of a proposed Amended and Restated Pledge Agreement dated March 1, 2001, 20 (the "Pledge Agreement") by and between the City and the Authority, the City will pledge certain sums held 21 in the Parking and Transit Fund to the Authority for the benefit of the holders of the Series 2001A Bonds, and 22 certain other parking revenue bonds heretofore issued by the Authority. 23 24 4. Pursuant to a separate Bond Purchase Agreement (the "Bond Purchase Agreement"), by and among 25 the Authority and Mi11er Johnson Steichen Kinnard, Inc. (the "Purchaser"), the Purchaser has agreed to 26 purchase the Series 2001A Bonds. 27 28 29 30 31 32 33 34 35 36 37 38 5. The form of the Pledge Agreement has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of Yhe same. RESOLVED: 1. The City Council hereby approves and authorizes the Mayor, D'uector, Department of Planning and Economic Development and Director, Office of Financial Services to execute the Pledge Agreement in substantially the form submitted. Any other documents, agreements and certificates necessary for the issuance for the Series 2001A Bonds shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fiimish o � _ 1�p 39 certified copies of all proceedings and records of the City relating to the transaction described above, and 40 such other affidavits and legality of the Pledge Agreement as such facts appear from the books and recards in 41 the officers' custody and control of as otherwise known to them; and all such certified copies, certificates and 42 affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of ail 43 statements contained therein. 44 45 3. The approval hereby given to the Pledge Agreement includes approval of such additional details 46 therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 and appropriate and be approved by the Ciry's staff, City Attomey and Bond Counsel prior to their execurion; said staff, City Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereof. In the absence of the Mayor, Director, Department of Plamiing and Economic Development and Director, Office of Financial Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. 4. The Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation $10,648 in funds in excess of those estimated in the 2001 budget and the City Council of Saint Paul adopts the following changes to the 2001 budget: FINANCING PLAN 130 Pazking & Transit Fund GL-130-36100-3705 Fine Revenue GL-130-36102-5239 Block 7A Ramp Revenue GL-130-36100-9831 Contriburionto Fund Balance 001 General Fund GL-001-00000-3705 Fine Revenue GL-001-06000-7305 Transfer &om Parking & Transit Fund Current Budeet Chanees Amended Budeet $ 10,648 $1,000,000 (ioo,000) 600,000 100,000 (260,600) (10,648) 2,189,352 10,648 1,331,596 $ 10,648 10,648 10,648 $ 10,648 $989,352 700,000 (36Q600) 2,200,000 1,320,948 Total Changes to Financing Plan SPENDING PLAN 130 Parking & Transit Fund GL-130-36122-0557 Transfer to Genexal Fund 0 Total Changes to Spending Plan Total Capital Repair and Replacement Reseroe at 2001A Bonds Closing is $860,737. Reguested by Department of: Plannin & Economic evelo ment � I By: �w n Form Approved by City �Orney Adopted by Council: Date �,, ar s 0 O� � � i Adoption Certified by Council Secr By� ' Br � \�� ''�1•—.--1'� r� eKM`0��` �� '+�� .i0 Fina cial Se ices i ector Approved by Mayor: Date _!��L�oli'/ APProved by Mayor for Submission to Council By: _____ ��(i� � �� By: u DEPARTMENT/OFFICE/COUNCIL: DATE INITIATED GREEN SHEET NO.: IOLI�JL Plauning & Economic Dev. February 15, 2001 O\—\YQ CONTACf PERSON & PHONE: miTTn�✓D uv�TTai✓nA7'e ToddHurley 6-8837 � 1 PEDDm�crox s ci�coutacn. BE OUNCII, AGENDA BY (DATE) �IGN 2 Cl'1'Y AITORNEY _ C[TY CLERK 4 FINANCIAL SERV/A Z�ZHIOl p� 3 MAYOR(ORASST.) ROi7TING ORDER � TOTAL # OF SIGNA'RIAE PAGES _1_(CLIP ALL LOCATIONS FOR SIGNAI'URE) acnox �QUESZEn: City Council Resolution authorizing Execution of an Amended and Restated Pledge Agreement in connection with the issuance of FIRA Pazking Refunding Bonds, Series 2001A (Kellogg E�chibit Hall). RECOIvIIvIENDATIONS: Approve (A) or Reject (R) PERSONAL SERVICE CONTRACTS Mi1ST ANSWER Tf� FOLLOWING QUESTIONS: PLANNING COMMISSION 1. Hu this person/firm ever worked under a wntract for this department? CIB WMbIITTEE Yes No CIVIL SERVICE COMMISSION 2. Has this person/firm ever been a ciTy employee? Yes No � 3. Does this person/fi�m possess a skill not normally possessed by any cu�rent city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet ' INITIAI'ING PROBLEM, ISSUE, OPPOR'f'UN11'Y (Who, What, When, Wherq Why): , On Febnxary 28, 2001, the HRA is considering final issuance of approximately $6.8 million of refunding bonds to : take advantage of the current low fixed rate interest environment. The City needs to continue to pledge the Parking and Transit Fund to secure this debt through a Pledge Agreement. The IIRA approved preliminary authorization to issue in O1-02/14-7. ADVANTAGES IF APPROVED: Low, long-term fixed rate debt will be issued by the HRA. DISADVANTAGESIFAPPROVED: � None DISADVANTAGES IF NOT APPROVED: Refunding will not proceed. TOTAI. AMOUNT OF TI2ANSACTION: $6,80Q000 COST/REVENUE BUDGET:.'D: Yes NIJNDING SOURCE: HRA Resoluflon F139 & P& T�nd F130. /�� AC'CIVIT'P NUMBER: FINANCL4L INFORMATION: (EXPLAIN) � � �b�� , atCh Ce�?tnt° K �ShazMW�PULVER�geenshtbobg5 0216 01 wpd " ��2001 �g�rti�s,�� Presented By Green Sheet # ��.1.��1 2 � Referred To Council File # �� Resolution # NT Committee: Date �� RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDED t1ND RESTATED PLEDGE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF PARKING REFUNDING REUENLJE BONDS, SERIES 2001A (RIVERCENTRE EXHIBIT HALL RANIP) AND RELATED BUDGET AMENDMENT WHEREAS, 8 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") has 9 heretofore adopted its General Revenue Bond Resolution No. 95-6/14-1 (the "General Revenue Bond 10 Resolution") authorizing the issuance of certain revenue bonds of the Authority to finance certain public 11 parking facilities. 12 13 2. The Authority proposes to issue its Parking Revenue Refunding Bonds, Series 2001A (RiverCentre 14 Parldng Ramp) in the approximate principal amount of $6,800,000 (the "Series 2001A Bonds") pursuant to 15 the General Bond Resolution and Third 5upplemental Bond Resolution to provide funds for a current 16 refunding of the Authority's Parking Revenue Parking Revenue Bonds, Series 1995B, which were issued to 17 provide funds to finance a parking ramp commonly known as the Kellogg Exhibit Hall Parking Ramp. 18 19 3. Pursuant to the terms of a proposed Amended and Restated Pledge Agreement dated March 1, 2001, 20 (the "Pledge Agreement") by and between the City and the Authority, the City will pledge certain sums held 21 in the Parking and Transit Fund to the Authority for the benefit of the holders of the Series 2001A Bonds, and 22 certain other parking revenue bonds heretofore issued by the Authority. 23 24 4. Pursuant to a separate Bond Purchase Agreement (the "Bond Purchase Agreement"), by and among 25 the Authority and Mi11er Johnson Steichen Kinnard, Inc. (the "Purchaser"), the Purchaser has agreed to 26 purchase the Series 2001A Bonds. 27 28 29 30 31 32 33 34 35 36 37 38 5. The form of the Pledge Agreement has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of Yhe same. RESOLVED: 1. The City Council hereby approves and authorizes the Mayor, D'uector, Department of Planning and Economic Development and Director, Office of Financial Services to execute the Pledge Agreement in substantially the form submitted. Any other documents, agreements and certificates necessary for the issuance for the Series 2001A Bonds shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fiimish o � _ 1�p 39 certified copies of all proceedings and records of the City relating to the transaction described above, and 40 such other affidavits and legality of the Pledge Agreement as such facts appear from the books and recards in 41 the officers' custody and control of as otherwise known to them; and all such certified copies, certificates and 42 affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of ail 43 statements contained therein. 44 45 3. The approval hereby given to the Pledge Agreement includes approval of such additional details 46 therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 and appropriate and be approved by the Ciry's staff, City Attomey and Bond Counsel prior to their execurion; said staff, City Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereof. In the absence of the Mayor, Director, Department of Plamiing and Economic Development and Director, Office of Financial Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. 4. The Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation $10,648 in funds in excess of those estimated in the 2001 budget and the City Council of Saint Paul adopts the following changes to the 2001 budget: FINANCING PLAN 130 Pazking & Transit Fund GL-130-36100-3705 Fine Revenue GL-130-36102-5239 Block 7A Ramp Revenue GL-130-36100-9831 Contriburionto Fund Balance 001 General Fund GL-001-00000-3705 Fine Revenue GL-001-06000-7305 Transfer &om Parking & Transit Fund Current Budeet Chanees Amended Budeet $ 10,648 $1,000,000 (ioo,000) 600,000 100,000 (260,600) (10,648) 2,189,352 10,648 1,331,596 $ 10,648 10,648 10,648 $ 10,648 $989,352 700,000 (36Q600) 2,200,000 1,320,948 Total Changes to Financing Plan SPENDING PLAN 130 Parking & Transit Fund GL-130-36122-0557 Transfer to Genexal Fund 0 Total Changes to Spending Plan Total Capital Repair and Replacement Reseroe at 2001A Bonds Closing is $860,737. Reguested by Department of: Plannin & Economic evelo ment � I By: �w n Form Approved by City �Orney Adopted by Council: Date �,, ar s 0 O� � � i Adoption Certified by Council Secr By� ' Br � \�� ''�1•—.--1'� r� eKM`0��` �� '+�� .i0 Fina cial Se ices i ector Approved by Mayor: Date _!��L�oli'/ APProved by Mayor for Submission to Council By: _____ ��(i� � �� By: u DEPARTMENT/OFFICE/COUNCIL: DATE INITIATED GREEN SHEET NO.: IOLI�JL Plauning & Economic Dev. February 15, 2001 O\—\YQ CONTACf PERSON & PHONE: miTTn�✓D uv�TTai✓nA7'e ToddHurley 6-8837 � 1 PEDDm�crox s ci�coutacn. BE OUNCII, AGENDA BY (DATE) �IGN 2 Cl'1'Y AITORNEY _ C[TY CLERK 4 FINANCIAL SERV/A Z�ZHIOl p� 3 MAYOR(ORASST.) ROi7TING ORDER � TOTAL # OF SIGNA'RIAE PAGES _1_(CLIP ALL LOCATIONS FOR SIGNAI'URE) acnox �QUESZEn: City Council Resolution authorizing Execution of an Amended and Restated Pledge Agreement in connection with the issuance of FIRA Pazking Refunding Bonds, Series 2001A (Kellogg E�chibit Hall). RECOIvIIvIENDATIONS: Approve (A) or Reject (R) PERSONAL SERVICE CONTRACTS Mi1ST ANSWER Tf� FOLLOWING QUESTIONS: PLANNING COMMISSION 1. Hu this person/firm ever worked under a wntract for this department? CIB WMbIITTEE Yes No CIVIL SERVICE COMMISSION 2. Has this person/firm ever been a ciTy employee? Yes No � 3. Does this person/fi�m possess a skill not normally possessed by any cu�rent city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet ' INITIAI'ING PROBLEM, ISSUE, OPPOR'f'UN11'Y (Who, What, When, Wherq Why): , On Febnxary 28, 2001, the HRA is considering final issuance of approximately $6.8 million of refunding bonds to : take advantage of the current low fixed rate interest environment. The City needs to continue to pledge the Parking and Transit Fund to secure this debt through a Pledge Agreement. The IIRA approved preliminary authorization to issue in O1-02/14-7. ADVANTAGES IF APPROVED: Low, long-term fixed rate debt will be issued by the HRA. DISADVANTAGESIFAPPROVED: � None DISADVANTAGES IF NOT APPROVED: Refunding will not proceed. TOTAI. AMOUNT OF TI2ANSACTION: $6,80Q000 COST/REVENUE BUDGET:.'D: Yes NIJNDING SOURCE: HRA Resoluflon F139 & P& T�nd F130. /�� AC'CIVIT'P NUMBER: FINANCL4L INFORMATION: (EXPLAIN) � � �b�� , atCh Ce�?tnt° K �ShazMW�PULVER�geenshtbobg5 0216 01 wpd " ��2001