268665 WHI7E - CITV CLERK � COl1I1CII ������
PINK - FINANCE GITY OF SAINT. PAUL
CANARV - DEPARTMENT �
BLUE - MAYOR File NO.
C uncil Reso '
Presented By �
Referred To Committ : Date
Out of Committee By Date
WHEREAS, the amount of direct bonded indebtedness of the
City of Saint Paul and the amount of overlapping bonded indebted-
ness created by the County, School Board and other agencies
of the State is a matter of continuing concern for the �ouncil
of the City of Saint Paul; and
WHEREAS, by Council File No. 267988 the Council recognized
and addressed this problem by setting forth a program including
a bonding and debt study to be carried out in conjunction with
all governmental entities who have bonding authority over the
citizens of Saint Paul; and
WHEREAS, by Couneil Resolution the Council appropriated
funding in an amount not to exceed $20,000 to implement the
proposed work program of a city bond consultant; and
WHEREAS, it ha.s come� to the attention of the Council tha.t
the Department of Public W@rks is presently incta.rring costs in
anticipation of a sale in 1977 of water pollutiori �.batement
bonds which ha:s not yet been authorized by the Council; and
WHEREAS, �he Council has not yet made a determination
on the financial feasibility of se�ling these bonds o� the
potential impact of such a sale on the tax levy, bond rating
or the ma.rketability of other bonds and will not be able to
make such a determination until the bond study is concluded,
now, therefore, be it �
RESOLVED, by the Council of the City of Saint Paul, tha.t
the position of the Council be a matter of record and that copies
of the resolution be provided to the Department of Public Works
through the Ma.yor in order tha.t improper planning or expenditures
be prevented.
COUNCILMEN
Yeas Nays � Requested by Department of:
Butler -
��, � [n Favor
Hunt
Levine A gai n s t BY
���
Sylvester
--�er�esco_. �� �
Adopted by Council: Date 19� Form Appr ed by City Attorney '
Certified ss Council S ary �
B�
Ap o by iNayor: Dat
* MAR 2� �977 Approved by Mayor for Submission to Councii
By BY
PUSLISH�D MAR 5 1977
�; ���;.:. CzT� or.+ �.�L��;�r ��..v�
�� �:,.
;�r��..�.4.'� �';, 0�,�'ICE Oi' '1'F1��; CITY COUti CIL ��' �,,`,
:� . . �=��`:'�� '� . ,
� �. .,._, . j:� , ,.,�r ��.
::�)jy�F i:=:� � -
.�• - y�` . V;rVt�~/ � . � .
`__
�_ _�,� Do t e : February 28, 1977
a_
C 0 f�v� �:-'i �°�I E c � � �' C� `f`'-. �"
? O : �Qinf Paui C�i'� Councii
.. . _ ..
� F�Q�� ' C 0��'t�1��e� �t� FIfJANCE, MANAGEME�JT AND PERSONNEL
ROSALIE BUTLER , chairman, makes !he foilor�ing
reporf on C.F. C] Ordinunce
. . . Q Reso[ution .
_ - - -
� �t�ter
� �I�.E :.
•_ At its--meeting on February 14, 1977 the
Committee approved a motion that a resolution �
be prepared providing that Water Pollution
Abatement Bonds not be issued until the
�' campletion of a bond study. .
CITY f.ALT. SE1lENTFI FLOO;? SAItiT Pr�UL, 1ti1l�tti'ES�J"Gl SSt02