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264916 WH17E - CITY CLERK 264916.� PINK - FINANCE GITY OF SAINT PATTL � Council CANqRY -DEPARTMENT t BLUE . -MAVOR Flle NO. � uncil Resolution Presented By R fe d To Committee: Date Out of Committee By Date RESOLVED, That the Council of the City of Saint Paul hereby approves : '�A bill for an act relating to port authorities; setting forth required number of votes of inembers for approval of certain real property transactions ; amending Minnesota Statutes 19'74 , Section 458 . 17. '� and recommends the same to the Ramsey County Senate and House delegations. COUIVCILMEIV � Requested by Department of: Yeas Nays Christensen Hozza � In Favor Levine Rcedler Agalnst BY Sylvester Tedesco President Hunt Adopted by Council: Date .1AN 2 8 �� Form Approved by City Attorney Certified s ed by C ncil Secr�ary By By _ f Appro by Mayor: ate � �i Approved by Mayor for Submission to Council By - _- By PtlB�1lMED � A 1�1� . , . 0 2�4916 , . 1.-21-75 City o:f 5�,. P��u 1 I311.1. N . A bill for an act relating to port authorit:zes ; settinh forth required number of votes of inembers for approvat of certain real properi;y transactions ; amending Minnesota Statu�tes 19'74 , Section 458 . 17. BE IT ENACTED BY THE LECrISLATURE OF THE S�.CATE OF MINNESOTA: Section 1. I�7innesota Statutes 1974, Sec�tion 458 . 17 , is amended -to read: 458.17 AIZDITIONAL PO�'VERS. The port authority,in its own name,shall have ' full.power and authority to acquire, purchase, construct, lease, or operate any bulk- ' heads, jetties, piers, wharves, docks, landing places, �varehouses, storehouses, eleva- � tors, cold storage plants, terminaLs, bridges, and such other terminal or transporta- tion facilities as may be necessary or convenient for storing, handling, or transport- ing freight, for the handling of passenger traf�c, and for the establishment of rail and�vater transfer within the district; to make rules,regulations,and ch2rges for the use thereof, and for any service rendered; for such purposes to o���n, hold, lease, or operate real and personal property, to borrow money and to secure the same by bonds or mortgages upon any property held or to he held by it, and in the case of I any seaway port authority only to issue and sell negotiable revenue bonds of the port � authority for such purposes, or any of the purposes outlined in this chapter for the ` development of a seaport, such bonds to be issued, sold and secured in the same ; manner as providecl L-elo�v for the construction of a vehicular to21 bridge or tunnel, ', except that a trust indenture may but is not required to be executed, and in and by ! the resolutions and indenture, if any, authorizing the bonds the port authority sY.all I, define the facilities whose net reven�:es are to be pledged thereto, and may in its ; discretion mortgage such facilities to a trustee for the bondhoIders, which facilities ' may be all of those owned by the authority (except any vehicular bridge or tunnel) and all subsequent additions thereto and betterinents thereof, or may be restricted ' to one or more described facilities,including or not including the facilities financed by the bonds, and may be facilities which are either operated by the authority or are leased to others, and the authority may establish such covenants and restrictions re- garding the issuance of additional bonds payable from net revenues of the same facili- i ties, the subsequent amendment of the bond resolutions or indenture, the remedies ! and priorities of the bondho2ders in the event of default and, without limitation, all � such other matters pertinent to the security of the,bonds,as the authority may deter- � mine to be necessary for the marketing of the bonds to the best advantage; to sell, i convey, and exchange ariy real or personal property owned or held by it in such i manner and on such terms as it may see fit, save that no real property owned by ' the authority shall be so sold, exchanged, or the title thereto transferred without tIie ��� unanimous approv�.l of the members of -the port authority in a,ttendance or if' there are siY or more mPmbers in at-tendance , -the approval of a-t least five such metnbers , when such a , 264916 _ 1-21-7> City Bill_ No . . � sa]e, conveyance, exchange or transSer of real property is authorized, provided that i no such sale, conveyance, exchange or transfer of real praperty shall be considered at any meeting unless all commissioners have been given at least ten days written � notice that such a sale, conveyance, exchange or transfer will be voted upon at a j special or regular meeting, which notice shall contain a complete description of the ! affected real estate, and provided further that such authorization shall not be given unless there is at least a quorum present. The port authority is hereby empowered to acquire hy condemnation any property, corporeal or incorporeal, within the port � district �vhich may be needed by it for public use; and the fact that the property so '� needed has been acquired by the owner under the power af eminent domain or is i already devoted to a public use shall not prevent its acquisition by the port author- ity by the exercise of the right of eminent domain hereby conferred. 1�'o progerty � now or hereafter vested in or held by the state of Minnesota, or any city, county, vil- I lage, school district, town, or other municipality, shall be so taken or acquired by the port authority without the cunsent of the state, municipality, or governmental i subdivision. The necessity of the iaking of any property by the port authority shall � be determined by resolution duly adopted by the commissioners,which shall describe the property as nearly as may be and state the use and purpose to which it is to be devoted. The acquisition of such property shall be thereafter accomplished by pro- � ceedings by law, as in taking land for pub2ic use by right of eminent domain under the laws of'the state. In addition to the po�ver and authority heretofore conferred upon the port author- ity, the port authority, in its own name, shall have full power and authority to ac- quire and thereafter operate and maintain any existing vehicular toll bridge across any waters which form a common boundary between any city of the first class in the state and any other city either within or without the state and to reconstruct, im- prove, and repair such existing bridge; and to construct, maintain, and operate an additional vehicular Yoll bridge and approaches across these waters at a point suita- bie to the interests of navigation, and to reconstr�uct, repair, and improve the same; and to construct, maintain, and operate a tur.nel under tkese �vaters and to recon- struct, repair, and improve the same; and to issue and sell the negotiabie revenue � bonds of the port authority for such purposes. Such bonds shall be authorized by � resoIutions as the port authority may deterraine from time to time, such resolu�ions k to contain such provisions with respect to the form thereof and maturity, interest � rate, sinking fund,redemption, and refunding as are customary and usual; and such bonds shall be issued under a trust indentura from the port authority to a corpo- ; rate trustee, �vhich indenture shall contain the usual and customary provisions � �vith respect to the issuance of bonrls,the application of the revenues of such bridge or � tunnel for the creation of a sinking #und to provide for the payment of such bonds ; and interest thereon, and for the holding of the proceeds of the bonds in a special � trust for the purpose of acquiring or constructing such bridge or tunnel, and for the i pledge and assionment by the port authority to the trustee under such trust inden- I ture of the revenues of such bridge or tunnel over and above the cost of operation and maintenance thereof as security for the payment of the principai of and interest on such bonds.The port authority shall estaolish,maintain, and collect tolls for trans- it ocer such bridge or through such tunnel acquired or constructed hereunder sufH- � cient at all times to pay the cost of the operation and maintenance thereof and to pay the principal of and interest on the bonds issued hereunder; and such bonds and � the coupons evidencing interest thereon shall constitute an irrevocable contract be- ' t�veen the holders thereof and the port authority that such tolls shall always be suf- ficient therefor. No bonds issued hereunder shail bear interest at a rate exceeciing eight percent per annum and ali such bonds so issued hereunder shall be sold for not less than par and accrued interest to the date of d2livery and payment and may be + sold at private sale without prior publication of notice thereof. All•such bonds issued hereunder shall never constitute an indebtedness of any such city of the first class chargeable to its debt limit or payable from ad valorem taxes, but such bonds shall be payable solely and only from the toll revenues earned by such bridge ox tunnel f pledged to the payment thereof. I �'Vhen the port authority determines to acquire any of these existing bridges, or to i construct the additional bridge or tunnel, the port authority shall have ail rights � and powers to enter upon lands and to acquire, condemn, occupy, possess, and use such real estate and cther property as may be needed for the location, construction, ; operation, and maintenance of such bridge or tunnel and approaches thereto as are � possessed by railroad corporations for railroad purposes, or by bridge corporations � for bridge purposes in the state in which such real estate or other property is situ- ated, upon making just compensation therefor to be ascertained and paid according � to the laws of the state in which such property may be located and the proceedings 'i therefor shall be the same as in condemnation or expropriation of property for pub- � lic purposes in such state. j 2 , �' ' . 1-21-75 cit,,y Bill No . 264916 The port authority shall also have full right and power to cause to be made a survey or investigation relating to the proper uses, operations, improvement, and development of the port district, the stimulation o1 employment by reason thereof, � and the benefit to the city and county in �vhich such district lies and to the state of � 1��linnesota. The port authority may also cause to be prepared a plan for future � construction, development, and improvement of the port, �vhich plan may be inte- � grated into any e,cisting or future city plans of any city in the port district. Upon I completion of the plan, and after public hearing, such port authority may adopt the same as its official plan for the port district.Thereafter sucn plan may be extended, modifled,or amended after hearing.Upon the adoption of any such plan, all improve- ments made by such port authority shall conform thereto. Any seaway port authority may also operate its port terminal facilities con- structed on their premises as terminal operators and as such, may contract �viLh a ; �varenouse operator or opera�ors �erformir.g other terminal services on an agency i basis. They may enter into such a contract �vhich may provide that the agent will � be paid a compensation on a monthly basis to operate the facilities and that said i agent may hire the necessary personnel to carry all the functions assumed in said � contract, and that any and zll employees engaged by said agent shali be considered ; employees of such agent and not of the port authority, and he shall be responsible for the payment of Uieir compensation and in compliance k�ith all local ordinances, state or federal laws in regard to employees. Such seaway port authority may also contract�vith any other agent or agents for the performing of any and all functions I that the port authority has power by law to execute in a Iike manner. In contracting with so-called mat�aging agent, but in remair.ing the terminal operator, the seaway ; port authority may contract to retain power over the setting of all rates for any � services to be performed in any terminal facility owned, Ieased, or operated by said seaway port authority. I 3