264918 WH17E - CITY CLERK 1 ^yy `q��
PINK - FINANCE COUIIClI M1 1t��7
. CANqRV - DEPARTMENT GITY OF SAINT PALTL File NO. "
BLt�E. - MAYOR
� � uncil Resolution
Presented By ��
Refe ed To Committee: Date
Out of Committee By Date
RESOLVED, That the Gouncil of the City of Saint Paul
hereby approves :
"A bill for an act relating to securities ;
governing registration of certain securities
of port authorities for cities of the first
class ; amending Minnesota Statutes 1974,
Section 80A. 15, Subdivision 1. " •
and recommends the same to the Ramse y County Senate and House
delegations.
COUIVCILMEN Requested by Department of:
Yeas Nays
Christensen
Hozza In Favor
Levine � ._ •�
Rcedler Against BY
Sylvester
Tedesco
President Hunt
�� 2 8 �� Form Approved by City Attorney
Adopted by Council: Date
Certified d by Council Secretary � BY
By
Approv by Mayor: Da �'` Approved by Mayor for Submission to Council
B _ BY
PUBLISMED �� 91�5
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� ; . . . �64918
� , 1-21-75 Ci-ty of St. Paul Bi�l
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A bill for an act
relating to securities ; governin� registration
of certain securities of port authorities for
cities of the first class ; amending Minnesota
StaLutes 1974 , Section 80A. 15 , Subdivision l .
0
BE I�' ENACTFD BY THE LEGISLATURE OF THE STATE OF i�lINNESOTA :
Section l . P�Iinrlesota Statutes 197�4 , Section 80A . 15 ,
Subdivision l, is amended to read :
80A. 15 [Exemptions�
• Sub�ivision l . The follocvin� securities are exempted
from sections �30A. OB and 80A. 16 :
(a) Any secura_ty , including a revenue obliga.tzon, issue :
or guaranteed by the United St;ates , any state , any political
subdivision of a state oz� any cor�orate or� other insLrurnentality
of one or mare of the fore�oing; but this exemption shall not
include any industrial z°evenue bond.
(b) Any security :i_ssued or guaranteed by Canada, any
CaMadian province , any political subdivision of any such province ,
any agency or corporate or ot;her instrumentalit,y of one or more
of the foregoi.n�, if the security is recognized as a valid ob-
li�ati.on by Lhe issuer. or �uarantor; but this exemption shall
not include any rever�ue ob.ligation payable solely from payrnents
to be inade in respect of property or money usec� under a lease ,
sale or loan arrangement by or for a nongovernmental industrial
or commercial enterprise .
(c) Any security issued by. and representin� an interes�
in or a debt of, or guaranteed by , any bank organized under the
laias of the United States , or any bank, savings institution or
trust company organized under t:he la�vs of any state and subject
to regulation in respect of the issuance or guarantee of its
. securities by a governmental authorit;y of thaL state .
(d) Any security issued by and representing an interes�
in or a debt of, or �uar°anteed by , any federal savings and loan
association, or any build:ing and loan or silnilar associatilon
or�;anized under the la��rs of any state and authorized to da busi-
ness in this state .
� (e) Any securiLy 1SSUECI OT� guaranteed b5� any federal
credif, union or any credit un�.on, or similar assoc.i.ation ar�;c'IlZlze:
and supervised under the lat�rs of f,his sLate .
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+ . .:. ; - . . � 264918
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(f) Any security listed or approved for listing upon
notiice of issuance on the New York Stock Exchange , the American
Stock Exchange , the I�tidwest Stock Exchange, or the Pacifie Coast
Stock Exchan�e ; any other security of the same issuer which is of
senior or substantially equal rank; any security called for by
subscription rights or v�arrants so listed or approved; or any
warranty or right to purchase or subscribe to any of the foregoin�.
(g) Any commercial paper which arises out of a current
transaction or the proceeds of which have been or are to be used
for current transactions , and which evidences an obligation to pay
cash tiaitYiin the nine months of the date of issuance , exclusive
of days of grace, or any renewal of such paper �ahich is likevrise
limited, or any guarantee of' such paper or of any such renetival
which are not adver�ised f'or sale to the general public in neti•as-
papers or other publi.cat 'ions of generaT circalation or �otherwise ,
or by radio, television or direct mailing.
. (h) Any interest in any employee ' s savings , stock
purchase , pension, profit sharing or simil_ar benefit plan, or a
self-employed person' s retirement plan.
(i) Any security issued or guarante�d by any rai7_road,
��ther common carrier or public utility which is subject �o regu-
lation in respect to the ZJJuance or guarantee of iLs securities
by a governmental authority of Lhe United States . .
(j ) Any in�erest in a common trust fund or sim:ilar �
fund mainta�_ned by a state bank or trust company organized and
operating under the la�as of Minnesota, or a national ban)c where-
ever locaLed, for the collective investment and reinvestment
of funds contributed thereto by such bank or trust cornpany in its
capacity as trustee ,. executor, administrator, or guardzan; and
any interest in a collective investment fund or sirnilar fund
maintained by such ban�c or trust company , or in a separate account
maintained by an insurance company , for the collective investment
and reinvestment of funds contributed thereto by such bank , trust
cornpany or insurance company in its capacity as trustee or �gent ,
which interest is issued. in connect;ion taith an employee ' s savino; ,
pension, profit sharing or similar benefit plan, or a self-employe�
person' s retirement plan. .
(k) Any industrial development revenue bond issuedby
a port authority of a city of' th� first class and guarariteed by
a pled�e of revenues rom three or more ease a�reemen s a� nc3—such
other revenues as the port aut ority eems appro��ri.a e .
(1) Any_ industrial deve_lopment__rev_enue_bond__issue
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in .:�n amount of $1,000,000_ or _less_ issued_pursuant to Chapte�s _
___.___.----------
�47�'+ or u5� of the Laws of the State of Minnesota as amended, the
issuance of�wfiich bonds has been approved- by the �a�e of Minne-
�sota Departmen�--o�`-Economic�eveTopmen�.
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