267897 WHITE - GITV CLERK COUIICII ����1�F��
PINK - FINANCE
CANARV - DEPARTMENT GITY OF SAINT PAiTL �
BLUE - MAVOR-� File NO.
� � C cil Resolution
Presented By _ �
Referred To Committee: Date
Out of Committee By Date
WHEREAS:
A. The Council has by Resolution No. 267737
adopted on August 19 , 1976 and approved by t e yor on
August 23 , 1976 a�orized the issuance and sale of
$1,00O,��General Obligation Rehabilitation Loan and C�rant
Program Bonds, Series 1976, to be dated October l, 1976;
B. The appropriate City Officers have, pursuant
to said resolution, caused proper published notice of the
sale of the bonds to be given as required by law, and
sealed bids, pursua.nt to said Notice of Sale� were received
until 11:00 o clock A.M.� Central Time� on Tuesday, Sep-
tember 21� 1976� in the Office of Roger A. Ma.ttso�, Director,
�epartment of Finance and Ma.nagement Services� 109 City Hall�
St. Pau1, Minnesota, and
C. The Director of Finance and Ma.nagement Services
of the City has advised the Council that the bid.�f The First
National Bank of Chicago and Associates '
was oun to e t e most a vantageous an recomm�en e
that said bid be accepted.
NOW� THEREFORE� be it resolved tha.t
1. The b id of 'Ihe First National Bank of Chicago and Asaociatgs
to purc ase , , enera igation e a itation
Loan and Grant Program Bonds, Series 1976, of the City in
accordance with the Notice of Bond Sale at the rates of interest
COUNCILMEN Requested by Department of:
Yeas Nays
Butler
Hozza [n Favor
Hunt
Levine __ Against BY
Rcedier
Sylvester
Tedesco
Form Approved by A orney
Adopted by Council: Date
Certified Passed by Council Secretary BY
sy
Approved by iVlayor: Date Approved by Mayor for S mission to uncil
By �Y
• ' , . . ������
hereinafter set for�h and to pay, the?��fore, the su� of
$1, 0�0, 000 plus a prer�ium of w 71.10 is her�cy
found, determined and declarzd to be the mos� f�.vo?'�ble
bid received and is hereby accep�ed and said bor.ds are
he?'eby a��r�rded to said bidder;
2 , The Director af Finance 2nd P��anagem�ent S�rvices
is �.irected to retain the deposit of said bidder and to forth-
�•lzth return the 000d faith checks or drafts to the uns*accessiul
bidders ; �
3 . Said bonds shall be payab�?° as to princi�al
and interest at Tne First : ational Bank of Saint Paul, in
S� . Paul, T'.innesota, or Tn.� Chase l��ann�.�tan Bank, P3.A. , in
ideur York, Ne��r Yortc, at the option af th° holder;
� . The bonds bearir.g the seri?I numbers and
naturing in the years as follo�ss shall bear interest as
follo.vs :
Years Serial RTOS . In�er�st Rate
19'TS-- EE- 1 - EE- 14 4.60%
- 1979 EE- 15 - EE- 32 � 4.60
1980 EE- 33 - EE- 50 4.60
19$1 EE- 51 - EE- 68 4.60
1982 EE--�i9 - EE- 88 4.�i0
1983 EE- 89 - EE- 108 4.60
1984 EE-109 - EE- 130 4.60
1985 EE-131 - EE- 152 4.70
1986 EE-153 - EE- 176 4.80
1987 EE-177 - EE- 20Q 4,90
5 . Tne Gouncil hereby rat�.f?es and appra�res �ach
and every act of its suoco�nriitzee on �inance and Sinki,r?g
Funds in connection with tn,e sale of tre said bondss
6 . Said bonds shall be executed by �he iacsirzile
of the of�icial seal of the City o�' St . �aul and s-�oned by
the iacsimile signature of the �.ayor, a��ested by �he
facsimile sionature of the City Cierk and eounters��n��3 b5r
tre �«�.nual signature of �he DirecLOr of �'inance and iiar_a�e�Lent
Serv�ces , and the interest coupons a�LaChed to eacr� b��d
shall be e:cecute� by the facsimile . sigr.atures of said off�cers;
7 . Tne bonds of said issue shall. mature ��fit'noc��
ontion of p�ior pa;�ment and shall be dated Qc�ober l, 1976
and sha�l be numbered from EE-1 to E�-20Q;
;.::,,�
. . � �'�����`�
8 . Said bonds and the coupons attached thereto
s�iall be in substantially the following form, which has
been approved by the City Attorney of the City of Saint Paul,
and is hereby approved and adopted:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF SAINT PAUL
GENERAL OBLIGATION REHABILITATION
LOAN AND GRANT PROGRAM BOND, SERIES 1976
No. EE- $5,000
KNOW ALL MEN BY THESE PRESENTS, that the City of
Saint Paul, in the County of Ramsey and State of Minnesota,
acknowledges itself to be indebted and for value received
hereby promises to pay to bearer, without option of prior
payment , th� s;urn' of Five Thousand Dollars ($5,000) on the
first day of February, , together with interest thereon
from the date hereof until the principal sum is paid at the
rate of per cent per annum, payable August l, 1977,
and semiannually thereafter on the first day of February and
the first day of August in each year as evidenced by and upon
the presentation and surrender of the annexed interest coupons
as they severally become due. Both principal of and interest
on this bond are payable in lawful money of the United States
of America at The First National Bank of Saint Paul, in St . '
Paul, Minnesota, or Chase Manhattan Bank N.A. , New York,
New York, at the option of the holder, and for the prompt
payment of this bond, both principal and interest , when due,
the full faith and credit of the City of Saint Paul are
irrevocably pledged.
This bond is one of a series of bonds issued and
sold by said City of Saint Paul in the aggregate principal
amount of One Million Dollars ($1,000,000) , authorized
pursuant to Laws of Minnesota 1974 , Chapter 351 as amended
by Laws of 1975, Chapter 260, for the purpose of the
procurement of funds to be used by said City for a program
of housing rehabilitation loans and grants all as is more
fully provided in and in accordance with the provisions of
said law.
����c��
,
It is hereby certified and recited that all
things , acts and conditions required by the Constitution
and Laws of the State of Minnesota and the Charter of said
City to happen and be done and performed precedent to and
in the issuance of this bond, have happened and have been
done and performed in regular and due form and time as
required by law, and that the issuance of this bond did
not cause the total indebtedness of the said City to exceed
any constitutional, statutory, or charter limitation.
IN WITNESS WHEREOF, the said City of Saint Paul,
Ramsey County, Minnesota, by its Council has caused this
bond to be sealed by the facsimile of its Official Seal,
to be signed by the facsimile signature of its Mayor,
attested by the facsimile signature of its City Clerk,
and countersigned manually by its Director of Finance and
Management Services, and each of the interest coupons hereto
attached to be executed by the facsimile signatures of said
officers, as of the first c�ay of Oc�ober, 1.976 .
_�_ (facsimile) George---Latimer
Mayor
(SEAL)
Attest : (facsimile) Rose Mix
_ City Clerk
_ -- . _ __. Countersigned:
Director of Finance and
Management Services
. - ' ������
.
COUPON
On the first day of August (February) , ,
the City of Saint Paul, Ramsey County, Minnesota, promises
to pay to bearer at The First National Bank of Saint Paul,
St . Paul, Minnesota, or the Chase Manhattan Bank N.A. ,
New York, New York, at the option of the holder, the
sum shown hereon for interest then due on its General
Obligation Rehabilitation Loan and Grant Program Bond � ,
Series 1976, dated as of October l, 1976, No.
(facsimile) George Latimer
Mayor
Attest : (facsimile) Rose Mix
City Clerk
__ _ _ Countersigned: (facsimile) Roger A. Mattson
Director of Finance and
Management Services
WH17E - CITV CLERK COUIICII ������
PINK - F�NANCE � 'ti�
BLUERY - MAYORTMENT � GITY OF SAINT PAITL File � NO.
r � � Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
9. The full faith and credit and taxing power
of the City are pledged for the prompt and full payment
of the principal and interest of said bonds;
10. The City will not ma.ke any use of the proceeds
of the bonds to be issued which, if such use had been
reasonably expected as of the date of delivery of and
payment for the bonds, would have caused such obligations
to be arbitrage bonds within the meaning of Section 103(d)
of the Internal Revenue Code and any applicable temporary
proposed or final regulations promulgated thereunder; and
the City will and will cause any other entity authorized to
invest such bond proceeds for the City to comply with the
requirements of said Section 103(d) and all applicable
regulations pertaining thereto wh�le the bonds to be issued
�ereunder rema.in outstanding;
11. The proceeds of said bonds shall be credited
to an account hereby established and designated' Rehab��:���.tion
: Loan and Grant Program Account and the moneys in said account
shall be used and applied for the purpose and in the ma.nner
prescribed by Laws 1974, Chapter 351, as amended, the balance
in said account after payment of the costs of the program,
if any, together with accrued interest received upon the
delivery of said bonds shall be credited to the Sinking Fund
Account for such obligations.
` COUNCILMEN Requested by Department of:
Yeas Nays �'
�� S Finance a ana em n
Hozza In Favor
Hunt ` � �
Levine `� __ Against BY
Rcedler
Sylvester
'Fadesee-
S�� 2-� �glg Form Approved by i y t rney
Adopted by Council: Date
� Se�et y BY
sy - `
Appro by i4layor. D e �_�ip�_ APprove ayor for Sub
7rv ,
gy By
rsH�b S EP 2 5 1976 T