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266431 WH17E - CITV CLERK . PINK - FINANCE (jITY OF SAINT PAUL Council 2ss431 CANARV - DEPARTMENT BLUE - MAYOR File NO. � � C Resolution Presented By Referred To Committee: Date Out of Committee By Date RESOLVED, by the Council of the City of Saint Paul, that this Council does hereby concur in each and all of the terms and provisions of Resolution No. 1041, adopted by the Port Authority of the City of Saint Paul on November 18, 1975, reiating to the issuance of $2,250,000 General Improvement Bonds� Series T, and $3,350, 000 General Improvement Bonds, Series J, of the Port Authority, dated December 1, 1975, a copy of which resolution has been certified to the Council by the Secretary of the Port Authority and is now on file 3.n the office of the City Clerk and by reference incorporated herein and made part hereof, and the Council specifically, but without li,mitation, concurs in the award of sale of bonds, interest rates, date, denominations, place o� payment, form and details of satd bonds, as specified in said resolution, and in the years and amounts specified for the taxes levied for the payment of said bonds, and does hereby find, determine and declare that all such provisa.ons axe a.n accordance with Ordinance Nos, 15708 and 15894 of the City o� Saint Paul are hereby approved, ratifi.ed and confirmed. COUNCILMEIV Requested by Department of: Yeas Nays Christensen I�cza Hunt [n Favor Levine J Rcedler Against BY Sylvester iPede�sa.. President I#�pt HOZZa, Adopted by Council: Date �11 ��� �� Form Approved y C y Att ney Certif' a e y Council Secretary BY By C 1 19�5 Approve Mayor: e � Approved by Ma r for Submission to Council BY -- BY pU���sNEO OEC 6 t975 s J - Resolution No . � 04� November 18 , 1975 PORT AUTHORITY OF THE CITY OF SAINT PAUL WHEREAS : A. The Secretary presented affidavits showing publica- tion of Notice of Call for bids on $2,250,000 General Improvement Bonds , Series I , and $3 ,350 ,000 General Improvement Bonds , Series J of the Port Authority, for which bids were to be received as a single bid for both issues at the office of the Director, Department of Finance and Management Services, of the City, and were to be opened and tabulated by the Executive Vice President of the Port Authority and presented at this meeting, in accard- ance with the resolution adopted by the Board of Commissioners on October 21, 1975, and said affidavits were examined, found to comply with the provisions of Minnesota Sta�utes , Chapter 475, and were approved and ordered placed on file; and ' B. Sealed bids, pursuant to said Notice of Call for � bids were received until 11 :00 o' clock A. M. , Central Time , on Tuesday, November 18, 1975, in the office of the Director of Finance and Management Services , of the City of Saint Paul ; and C. The Executive Vice Fresident of t he Port Authority has advised the Authority that the bids received axe set farth in the tabulation attached hereto as Exhibit A and incorporated herein by reference. � NOW THEREFORE, BE IT RESOLVED by the Board of Com- missioners of the Port Authority of the City of Saint Paul , Minnesota, as follows : 1 . That the bid of � lst D1at'1 Bank ot Chiaago � As�ociates to purchase $2,250,000 General Improvement Bonda, Series I, and $3,350,000 General Improvement Bonds , Seri�s J, of the Authority, in a�cordance with the notice af c�oid sale, at the rates of interest hereinafter set forth, and t� pay therefor the sum of $ 5.493,846.00 (plus a premium of -0- ) is hereby found, determined and declared to be the most favorable bid received, and is hereby accepted and said bonds are hereby awarded to said bidder. The Secretary is directed to retain the deposit of sai.d bidder and to farthwith return the good faith checks or drafts to the unsuccessful bidders . Said bonds � .: sha�' ce payable as :o �rinci:,al anc; inter�s� at the main oftice of the �iorthwestern at'1 Bank of Mituseapolie, or an;� �u-�c==�s�;: P���ing :�.�,en� duly appoi��.ed by ti�e E�u`:._i��riLy . � 2 . The �2 ,250 ,OOG ne�;�t � able coupor: �eneral obliga- tion Series I bonds of the �u�ho»ity sha?1 bz dat�d D�cembzr 1 , 1975 , and shall be issued iorth:;itn. Said bonds shall be 450 in number and numbered from 1 to �450 , both inclusive , in the denomination of $5 , 000 each. Said bonds sha11 mature serially , loV�es� numbers first , on December 1 in the years and amounts as follows : $ 75, 000 in each of the years 1978 to 1985 , both inclusive ; $200,000 in each of the years 1986 to 1992 , both inclusive ; and $250,000 in the year 1993 • 3. The $3 ,350,000 negotiable coupon general obliga- tion bonds Series J of the Authority shall be dated December 1 , 1975, and shall be issued forthwith. Said bonds shall be 670 in number and numbered from 1 to 670, both inclusive, in the denomination of $5,000 each. Said bonds shall mature serially, lowest numbers first , on December 1 in the years and amounts as follows : $100,000 in each of the years 1978 to 1985, both inclusive; $300,000 in each of the years 1g86 to 1g90, both inclusive; and $350,000 in each of the years 1991 to 1993, both inclusive . 4 . The bonds of said issues sha�.I provide funds for the acquisition and development of properties in the furtherance of the development of the Port Authority' s Port and Development Districts as provided in Ordinance Nos . 15708 and 1589� of the City of Saint Paul . The total cost of said projects, including the costs of acquisition and development under the terms of the lowest bid received, engineering, legal and other professional charges , publication and printing costs , interest accruing on money borrowed for the projects before the co].lec- tion o� taxes levied therefor, and all other costs necessarily incurred and to be incurred from .the inception to the completion of the projects , is estimated to be at least equal to th� 3mount of the bonds herein authorized . 1rJork on the projects sha�l proceed with due diligence to completion. 5 . The bonds of said issues maturing in the years and bearing the serial numbers set forth belo�r shal]_ bear interest , payable December l , 1976 and semiannually thereafter on June 1 and December 1 of each year, at the respective rates per annum set opposite said ��aturity years and serial nunbers : .� -2- I t Maturity Years Interest Rate ' 1978-1984 5•�� 1985 5.9096 1986 6.0096 � 1987 6.1096 1988 6.2 096 1989 6.4096 1990-1993 6.5096 6. All bonds of said issues maturing in the years 1986 to 1993, both inclusive, shall be subject to redemption and prepayment at the option of the Authority in inverse order of serial numbers, on December 1, 1985 and on any interest payment date thereafter at par and accrued interest . Published notice of redemption shall in each case be given in accordance with law, and at least thirty days prior mailed notice of redemption shall be given to the bank where said bonds are payable and to any registered holders , provided that published notice alone shall be effective without mailed notice . Holders clesiring to receive . mailed notice must register their names, addresses and bond numbers with the Secretary. 7 . The bonds and interest coupons to be issued here- under shall be in substantially the following form with respect to each issue : c3- UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY PORT AUTHORITY OF THE CITY OF SAINT PAUL GENERAL IMPROVEMENT BOND SERIES I No. $5,000 KNOW ALL PERSONS BY THESE PRESENTS, That the Port Authority of the City of Saint Paul, in the County of Ramsey and State of Minnesota, acknowledges itself to owe and for value received hereby promises to pay to bearer the sum of FIVE THOUSAND DOLLARS . on the first day of� December, 19 , together with interest thereon at the rate of percent ( �) per annum from the date hereof until paid, payable on the first day of December, 1976 and semiannualLy thereafter on the first day of June and December in each year, interest to maturity being evidenced by and payable in accordance with and upon presentation and surrender of the annexed interest coupons as they serially become due . Both principal and interest of this bond are payable in lawful money of the United States of America at the office of in , or any successor paying agent duly approved by the Port Authority, and for the prompt paymer.t of this bond, both principal and interest , when due , the full faith, credit and resources of the City of Saint Paul are hereby irrevocably .pledged . All bonds of this issue maturing in the years 1g86 to 1993, both inclusive (bonds numbered 121 to 450, both inclu- sive) , are subject to redemption and prepayment at the option of the Authority in inverse order of serial numbers , on December 1, 1985 and on any interest payni�r�t date thereafter at par and accrued interest . Published noti�:e of redemption shall in each case be given in accordance with law, and at least thirty days prior mailed notice of redemption shall be given to the bank where said bonds are payable and to any registered holders, pro- vided that published notice alone shall be effective without mailed notice. Holders desiring to receive mailed notice must register their names, addresses a.nd bond numbers with the Secretary of the Port Authority . ��- . This bond is one of a series amounting in the aggre- gate to the sum of $2 ,250 ,000 issued by said Port Authority for the purpose of securing funds as needed by the Port Authority to pay the cost and expense necesarily incurred and to be incur- red for the program of port and industrial development described . ir. Ordinance No. 15708 of the City of Saint Paul , all pursuant to the provisions and by authority of Minnesota Statutes, Chapter 458, and in anticipation of the receipt by said Port Authority of payments, appropriations, ren�s and profits and incame from other sources thereunder, and in accordance with the provisions , terms and conditions of Chapter 458, Minnesota Statutes. This bond is issued pursuant to said ordinance, as enacted by the Council of the City of Saint Paul and duly signed, attested and authorized in accordance with said Chapter �458, and pursuant to Resolution of said Council No. , passed and approved� , 1975, and under authority and in all respects in full compliance with the Charter of said City of Saint Paul , pursuant to resolutions of said Port Authority, No . 904, No. 1032 , and No. 1041, passed and approved, respectively, June 18, 1974 , October 21, 1975, and November 18, 1975, and in all respects in full compliance with all applicable provisions of law, including Chapter 475, Minnesota Statutes. It is hereby cer�ified 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 been done and performed in regular and due form and time as required by law; that prior to the issuance of �his bond said Port Authority has levied for each. year, un�il the principal and interest are paid in full , a direct annual tax on all the taxable propeY�ty in the City of Saint Paul in an amount not less than five percent in excess of the sum required to pay the principal and interest hereof when and as such principal and interest mature, which tax is irrepealable until all such indebtedness is paid, and may be reduced only in the manner and to the extent provided in said Chapter 458; that additional taxes, if necessary for full pay- ment of such principal and interest , are required by law to be levied upon all such property without limitation as to rate or amount ; and that neit'�er the total indebtedness of the City of Saint Paul nor that o£ said Port �Authority, including this bond, exceeds any coi:stitutional, statutory or charter Iimita- tion. IN WITNESS WHEREOF, said Port Authority of the City • of Saint Paul, by its proper officers , has caused this bond to be sealed by a lithographed facsimile of its Official Seal, � ,' _5_ � � to be signed and countersigned by the lithographed facsimile signatures of its President and its Treasurer, attested by the manual si�nature of its Secretary, and each of the interest coupons hereto annexed to be executed and authenticated by the lithographed facsimile signatures of its President and Secretary , and has caused a true and correct copy of the opinion rende�°ed by bond counsel as to the validity of the issue including this bond, rendered at the time of delivery hereof, to be printed on the reverse side of this bond, and has caused this bond to be dated as of the first day of December, 1975 • President Countersigned : Treasurer Attest : Secretary # (SEAL) (FORM OF INTEREST COUPON) No. On the first day of , 19 , unless the bond described below is called for earlier redemption, the Port Au+:Y�ority of the City of Saint Paul , Ramsey County, Minne- sota, wi":�.1 pay to the bearer at �in , the sum shown hereon in lawful money of the United States , for interest then due on its General Im- provement Bond, Series I , dated December 1, 1975• No. � (Facsimile Signature) (Facsimile Signature) Secretary President -6- UNITED STATES OF AP�IERICA STATE 0�' I�IINNESOTA � � COUNTY OF RAI��;SEY PORT AUTHORITY OF THE CITY OF SAINT PAUL GENERAL IP+'PROVEi�ENT BOND SERIES J No . �5,000 KNOW ALL PERSONS BY THESE PRESENTS, That the Port Authority of the City of Saint Paul, in the County of Ramsey and State of Minnesota, acknowledges itself to owe and for value received hereby promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the first day of December, 19 , together with interzst thereon at the rate� of percent ( �) per annum from the date hereof until paid, payable on the first day of December, 1976, and semiannually thereafter on the first day of June and December in each year, interest to maturity being evidenced by and payable in accordance with and upon presentation and surrender of the annexed �interest coupons as they serially become due . Both principal and interest of this bond are payable in lawful mor.zy of the United States of America at the office of � � � in , or any successor paying agent duly appointed by the Port Author- ity, and for the prompt payment of this bond, both principal and interest , t��hen due, the full faith, credit and resources of the City of Saint Paul are hereby irrevocably pledged. All bonds of this issue maturing in the years 19$6 to 1993 both inclusive (bonds numbered 161 to 670, both inclusive) , are subject to redemption and prepayment at the option of the Port Authority in inverse order of serial r.umbers, on December l, 1987, and on any interest payment date thereafter at par ar,d acerued interest . Published notice of redemption shall i,� each case be given in accordance with law, and at least th'irty days prior mailed notice of reder�ption shall be given to tiie bank where said bonds are payable and to any registered holders , pro- vided that published notice alor.e shall be effective without mailed notice . Holders desiring to receive mailed notice must register their names, addresses and bond numbers with the Secretary of the Port Authority . -7- This bond is one of a series amounting in the aggregate to the sum oi $3, 350, 000 issued by said Port Authority for the purpose of securing funds as needed "by the Port Authorit� to pay the cost and expense necessarily incurred and to be incurred for the program of port and industrial development described in Ordinance No . 1589� of the City of Saint Paul, all pur- suant to the provisions and by autharity of Minnesota Statutes, . Chapter �78, and in anticipation of the receipt by said Porfi Authority of payments, appropriations, rents and profits and income from other sources thereunder, and in accordance witii the provisions, terms and conditions of Chapter 458, Minnesota Statutes . This bond is issued pursuant to said ordinance, as enacted by the Council of the City of Saint Paul and duly signed, attested and authorized in accordance with said Chapter 458, and �pursuant to Resolution of said Council No. � � passed and approved , 19 , and under authority and in all respects in ful comp iance w t�i the Charter of said City of Saint Paul, pursuant 104iesalutions of said Port Authority, No. 1007 , No. 1032, and No. � passed and appro�ed, respectively, August 19, 1977, October 21, 1975 , and November 18, 1975, and in all respects in full compliance with all applicab�e provisions of law, including Chapter 475, Minnesota Statutes . It is hereby certified and recited that all things , acts and conditions required by the Constitution and laws of the State o� 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 been done and performed in regular and due form and time as required by law; that prior to the issuance of this bond said Port Authority has levied for each year, until the principal and interest are paid in full, a direct annual tax on all the taxable property in the City of Saint Paul in an amount not less than five percent in excess of the sum required to pay the principal and interest hereof when and as such princi- pal and interest mature, which tax is irrepealable until all such indebtedness is paid, and may be reduced only in the manner and to the extent provided in said Chapter 458; that additional taxes, if necessary for full payment of such principal and interest, are required by law to be levied upon all such property without limita- tion as to rate or amount ; and that neither the total indebtednes� of the City of Saint Paul nor that of said Port Authority, includ- in� this bond,exceeds any constitutional, statutory or charter limitation. . - � IN WITNESS WHEREOF, said Port Authority of the City of Saint Paul, by i�s proper officers, has cause � this . bond to be sealed by a lithographed facsimile of its Official Seal, to be signed and countersigned by the lithographed facsimile signa- tures of its President and its Treasurer, attested by the manual signature of its Secretary, and each of the interest coupons hereto annexed to be executed and authenticated by the lithographed facsimile signatures of its President and Secretary, and has caused a true and correct copy of the � _� i issue ir.cluding this bond, rendered at the time of delivery hereof, to be printed on the reverse side cf this bond, and has caused this bond to be dated as of the first day of December, 1977 • President Countersigned: Treasurer Attest : Secretary (Form of Couponl No . On the first day of December (June ) , 19 , unless the bond described below is called for earlier redemption, the Port Authority of the City of Saint Paul, Ramsey County, Minnesota, will pay to the bearer at in , the sum shoVan hereon in lawful money of the L'nited States, for interest then due on its General Improvement Bond, Series J . dated December l, 1g75, No. (Facsimile Signature) (Facsimile Signature) Secretary President _ _9_ 8 . The bonds shall be executed on behalf of the Authority by the facsimile signatures of its President and of its Treasurer, be attested by the manual si�nature of its Secretary and be sealed t•�i_th the printed facsimile seal of the Authority . The interest coupons pertaining thereto shall be executed by the printed , engraved or lithagraphed facsimile signatures of the President and Secretary . 9. The said bonds when so prepared and executed shall be delivered by the Treasurer to the purchaser thereof upon receipt of the purchase price , and the said purchaser shall not be obliged to see to the proper applicatian thereof. 10 . There has heretofore been created a special fund designated "Common General Obligation Bond Fund" held and administered by the Treasurer separate and apart from all other funds of the Authority . Said fund shall be continued and maintained in the manner herein specified until all of the bonds herein authorized and all other �eneral obligation improve- ment bonds heretofore and hereafter issued 'oy the Authority and made payable from said fund and the interest �hereon have been fully �aid . In said fund there shall continue to b? maintained two separate accounts , desionated as the '�ConstrucLio:; Account" and the "Common General Obligation Bond Sinking Fund" , respectively . The proceeds of the sale of the bonds herein authorized, less any premium and accrued interest received thereon and less any amount pa?d for said bonds iM excess of �5, 491,OOQ , and less capitalized interest in the amount of $ -0- , sha11 be credited to the Construction Aceount , froM which ther. e shall be paid all costs and expenses of said projectj , including the costs of any contracts heretofore let and all other costs incurred and to be incurred and the maneys in said account shall be used for no other purpose, provided that the bond proceeds may also be used to the extent necessary to pay interest on said bonds due prior to the anticipated date of commencement of the collection of taxes herein Ievied. There is hereby pledged and there shall be credited to the Common Gerze� ral Obligation Bond Sinking Fund, all accrued interest received upon delivery of said bonds :. all funds naid for the bonds in excess of $5 ,491,000 , capitalized interest in the amount of � -0- , collection of al1 taxes herein levied for the payment of said tionds , and all funds remainin� in said Construction Accovnt after completion of the pro�ects and payment of the co�ts thereof. The Common General Obligation Bon� Sinking Fund shall be used solely to pay principal and interest on the bonds issued hereunder and all other general obligation bonds of the Authority heretofore and hereafter issued by the Authority and made payable from said Fund. -10- 11. in acaordance with said Ordi.nane� �io. 51708 and law�, �r� is hor�by i�viad !or �ach year, uatil tb� pria- cipal and int�r•at o! the Sari•� I bonds are paid iu lull �► direct, anuual ad valor�m tax on all th� taxable psoperty in ths City o! Saint Paul, not less tta� fiw p�r c�nt in exc�as o! the �u�u r�quir�d to pay ths principal and int�r�st ther�on w'haa aad as �uu�cb principal and int.reat a�atuse, l��s availabl� fun8. oa �and aad irr�vocsbly appso- psiat•d for such p�urpo,re. Suah tax �hall be �octeaded upon the tau roll� prepared ia t� �ollo�rinq re�p�ctive year�, in the a�wunt� atat�d for such yaar�: Year o! Tax Y�ar of Tan _ .j�=-- C_gll,�c,tiat► �u 1875 1976 $146,000 1976 1977 146,000 19?9 1978 2Z4,700 i��e is�9 aao,zoo 19�9 1980 215.700 198Q 1981 211,300 1981 1982 106,800 198Z 1983 202,300 1983 1984 197,�00 1984 1985 193.3� 1985 1986 319,900 1986 1987 307,300 1987 1988 294,500 1988 1989 Z81,400 1969 1990 268,000 1990 1991 254,400 1891 1992 240,700 1992 1993 Z79,500 Said tax �ball ?» colleetsd in th� r�spsctiv suces�ding ysars toqother with otl�er qaaeral taxs• lmvied in tht City o! Saint paul. !►lter the d�liwry o! the bond�, suc2s tau �hall be irr�p�alable u�til all suc2a►► iAdsbtedn��• ia paidt a�nd att�s th� is�u�es of th� Seri•� I bon8s no turt2Ler action by ths Authority sbsll be a�a�as�ry to auttioria� th� yctension, a���ssuwnt and collaction �rt' such taxt provided tbat tb� Autl�ority r�ssrve• th� right aad pow�sr to r�duae th� l.vi�s ia the �a�a�r a�nd to the �xtsrit penaitted by Mi�esota Statut�s, 8ection 458.193, Subdivision 5. - 11 - 12. In accordance with said Ordinance No. 15Rg4 and laws , there is hereby levied for each year, until the principal and interest of the Series J bonds are paid in full, a direct , annual ad valorem tax on all the taxable propert,y in the City of Saint Paul, not less than five per cent in excess of the sums required to pay the principal and interest thereon when and as such principal and interest mature , less --� available funds on hand and irrevocably� appropriated for such � purpose. Such tax shall be extended upon the tax rolls prepared in the following respective years , in the amounts stated for such years : year of Tax Year of Tax � Levy - ' C�ollection Amount 1975 1976 -0- 1976 1977 $218,100 � 1977 197g 3a3,ioo 1978 1979 � 317,000 `��.979 19gp 311,100 . 19gp lg$1 305,100 1981 1g82 299,100 1982 1g83 293,I00 1983 1984 287.100 1.984 1g85 281,200 1985 1986 � 484,900 � 1986 1987 466,100 � � �. 1987 i988, aa6,eoo . lggg 1�9gg 427, 300 19g9 �99p 407,100 1990 1991 439,200 1991 1992 415,300 1992 1993 391,400 1993 1994 -0- Said tax shall be collected in the respective succeeding years together with other general taxes levied in the City of Saint � Paul. After the delivery of the bonds, such tax shall be ir- repealable until all such indebtedness is paid, except as otherwise provided in paragraph 13 hereof; and after the • issuance of the Series J bonds no further action by the Par� Authority shall be necessary to authorize the extension, assessment and collection of :,t;ch tax. 13. To further secure the Series J bonds , the Port Authority hereby covenants that , subject to the rights of holders of other general obligation bonds pa.yable from the Common General Obligation Bond Sinking Fund, it shall pa,y from interest earnings on funds in said Sinking Fund the interest and principal to become due on the Series J bonds , and to the extent that the interest earnings from said Sinking Fund are insufficient therefor, to pay such deficiency from all other available funds in the Sinking Fund; and the Authority further covenants to the extent permitted by law that in the event such interest earnings and other available funds in said � . - 12 - Sinking Fund are not sufficient each year to meet such debt . service obligations in time to cancel the tax, levy otherwise required to be made that year for the Series J bonds , the Authority shall pay into the Sinking Fund a sum sufficient to cure the deficiency from other available earnings and income received by the Port Authority from whatever source it may be derived within the meariing of P�innesota Statutes , Section 458 . 193 , Subidvision 4 , and to cause its secretary each year on or before October 15 to certify to the county auditor the amount on hand and available in the Sinking Fund and appropriated to pay said debt service obligations to the extent included in the taxes otherwise required to be leviEd therefor in that year for the Series J bonds and to request that the county auditor reduce such tax levy for that year by such amount in accordance with Minnesota Statutes Section 458. 193 , Subdivision 5. 1� . The Secretary of the Author�ty is� hereby direeted to file a certified copy of this resolution, Evith the County Auditor of Ramsey County , Minnesota, together with• such other information as he shall require , and to obtain from said Auditor his certi�ficate that said bonds have been entered in the same Auditor' s Bond Register, and that the tax levy re- quired b,y law has been made . _ 15 • Pursuant to the specific authorization contained in said Ordinance Nos . 15708 and 158�_ of the City of Saint Paul, the full faith, cred3_t and resources of said Gity , are hereby pledged for the prompt and full payment of the principal of and interest on the bonds herein authorized as such principal and interest become due. In the event trat the collections of the tax herein authorized should at any time be insufficient for the payment of such principal or interest , the Port Authority and the Ci�y of Saint Paul are authorized and obligated under Minnesata Statutes Section 475 .�1 to �75 • 7� to levy additional taxes upan �Il the taxable property within the City to make gaod such deficiency, �hich levies may be made without limitation as �o rate or amount . 16. The officers of the Authority are hereby author- ized at�d directed to prepare and furnish to the purchaser of sai�i bonds , and to the attorneys approving the legality of the issuance thereof, certified copies of all proceedings and reecrds of the Authority relating to said bonds and ta the financial condition and affairs of the Authority , and such other affidavits , certificates and information as are required to show the facts relating to the legality and marketability of said bonds as the same appear from �he books and records under their custody and control or as other�rise known to them, and - .,13 - and a�l such certified copies , certificates and addidavits , _ including any heretofore furnished, shall be deemed represen- tations of the Authority as to the facts recited therein. � 17 . Resolution No . 1027 of the Authority , adopted September 16 , 1975 , relating to the public sale of the Series _ I bonds , and superceded by Resolution No . 1032 of the Authority , adopted October 21, 1975, is hereby expressly repealed. Adopted: November 18, 1975 John L Seql President , Port Authority Attest : . Louis H. Meyers . . Secretary (SEAL) : , . � � STATE OF P�I!1TIESOTA ) ) ss COUNTY OF R�P�:SEY ) I , the undersigned, being the duly qualified and acting Secretary of the Port Authority of the City of Saint Paul, hereby certify that I have compared the attached and foregoing cop,y of Resolution No . 10�1, as adopted at a meeting of the Port Authori�y on ^Iovember 18, 1975 , award- ing sale of �2,250,000 General Irnbrover�.ent Bonds; Series I, ar_d $3,350 ,�00 General Improver�ent Bonds , Series J, fixing the interest rates ar.d other terms thereof, and levying and aApropriatir�g taxes for the pa,yment of principal and interest thereon, t�:�.th the original thereof on file in my office and find the same to be a full , true and correct copy thereof. j�IITNESS my hand and the seal of the Port Authority of the City of Saint Paul, this day of November, 1975. � . \ � 2� Se retar�r, Port uthor� - oi � , t Cit�,� of S�.ir_t Pau (SEAL) '� =,�__� ���� �x/a �� ir � � • _ . ` � �_ .�l� ..l�) r' (�. /��l J'�..�!'_��_ -1 P�'.�J'VIGI.�''r.�. SO�JD G�'�. . _,,.,. ,.. 314 !,ir.r.__� � .su�,__. .� SC�tGO�. ,:D h?ur�iG�°:.� Sa,.:T Pa,u�. . .,..,._��r.� �510i 6oti� {ssu_s i";�t�ti��a� �i_-.._. %+SSF.�_Mia.'.TS i.tvL \ 7 %,P'� . � , �--� Lecw� I�!?ROVcM='1'= :Y_l '�''li:,.�•...— -=�t .. .. R:�SliLTS Oi SaL� Por� authority of the City o� Saint Fau? $5, 600, 000 General Obligation Bonds (Series I and Series J) : The First National Bank of Chicago 5. 70% 1978 - 1984 (See attached list) 5.90% 1985 ' 6.00/ 1986 6.10/ 1987 6.20/ 1988 6.40/ 1989 6.50/ 1990 - I993 . $5,493, 846 Price $4, 544,b03.87 Interest Cost 6.441678% Net Interest First �;ational City Bank 4.50/ 1978 . . (See attached 1.ist) 4.75/ 1979 5.00/ 1980 5.20/ 1981 5.40/ I982 5.50% 1983 5.70/ 1984 5.80/ 1985 6.00/ 1986 6.10/ 1987 6.30/ 1988 6_40/ 1989 6.50% 1990 6.60/ 1'�9Z 6.70/ �992 ' 6.80/ 1993 $5,507,062.40 Price $4, 565, 237_60 Interest Cost 6.�709/ Net Inte.rest . -�:�-= � _ �.. � � 'J v . �. ./ . a8 , ?OC , ''OG C�. -,� ._ : _. 4 . : ._�_ , ._.._:esc,i:a v ' � ii - -- D: ' - __ Vn _. . nr;fi:GL� y �•�,�_ .. � ... .. � _ • _ ....�_ . ,., _ � ._.� �.. _ ' . ''_ � _.^'.C:_ .�..� ...,_ - � _� � . _.`... .J.: ��,iy.l.� _ ' '. _ . J • �. _ . - (,1 J =. ' '' _ ... __" ...' .. . '. _, . _...� .�._ _.. _, � .� .1.� ti':L'�•��`.K.�, 1 . ':'r�e Firs t `da�icna= �ank o_ ��.�ca�o C -:�r . ) 2 . ine :dortt:ern :rust �ompa�; 3 . Continental I1linois i�ation�:"_ Bank .. . anci Trust Company of Chica�o 4 . r1e11on Bank , N .A. � 5 . W . H . Morton � Co . - Division of American Express Company .. 6 . White , Weld � Co . , Incorporated � 7 . Shearson Hayden Stone Inc. - 8 . Dean Witter � Co. � � 9 . E . F. Hutton � Company , Inc . � 14 . The Philadelphia PJational Bank 11. Mzrcantile Trust Company P�iational Association 12 . Girard Bank � . � 13 . La Salle National Bank 14 . The Bank of Caiifornia N.A. 15 . Bank of Oklahoma, N.A. �' � 16 . First P3ational Ban:: � Trust Co . , Okla. City , Qk]_a. � T7. AmericaTi National Bank, St . Faul z' 18 . Loewi �'�Co. , Incorporated 19 . Ferris � Company . - . - �. 20 . Zahner and Company 21. Piper, Jaffray � Hopwood ' � - 22 . L�lilliam Blair � Company � : 23 . Fulton , Reid � Staples , Inc . 24 . Van Kampen , Sauerman Inc . � IN ASSOCIATIO�d G1rTH �: 1 . B ankers Trus t Company � .)J!T _ �� 2 . Blyth Eastman Dillon � Co . , Incorporate�)r'grs . - - 3 . Chemical Bank __ � � -- - - . 4 . Kuhn , Loeb � Co . � ) _ S . Smith , Barney � Co . , Incorpor�ited __- 6 . Lehr.:an Brothers Incorpora�ed _ 7 . Republic National Ban}c of Dallas - � 8 . Shields Mode1. �oland Incorporated. . 9 . National Bank of North America 10 . Pirst of Michigan Corporat�on 11. Baco� , 47hipQle � Co . 12 . Shaarr:ut Bank of Boston , N . A. 13 . Par�;<er/Hunter Incorporat2d : 14 , iirst ;lational Bank in St . Lcuis -_S . Wau�e rl°k E Bro��n , Inc . ( CO3!'"TidUED) � $1� , 3CC , Q00 � . � _-y _. _ �� . ' ,,� ',.?i n.:e��; � . J� . - _. ��. �'.:.,�� _ . ,�".JI'1 �� � •-----•-• - _ � -= f��::oC 1`•.::: i �l%:::��'RS �."J . --•- - --�j � .._ _lOrld_ ��_�: G - -- ---• - = .='.1� _� . ��.:1^:l �T'0 �..��S � lC . ?� . _ �__^S� �;d C l'�:13? I.�c,i�K �.: � "_...,�. - , ___.� �`3 . _..��''� i�T�G��O^3� �di1.'� 1.. :3:,,-`+'--_:. 20 . 6�1�chovia Ba:.k � Trus�t �o:��an;° 21 . Spancer Tras:�c � Co . , Incor�o��.r�c 22 . �1lison-6,lilliams Comp,3ny 23 . IIoattcher and Compa.ny ''� 24 . United Virginia Bank , Richmond 25 . Prescott , Ba11 and Turben . 26 . The Ohio Company 2? . Weeks , Kavana-�gh � Company , Ir�c . : � 2 0 . M.iiiar � �cnroeder Municipals , Inc. .� _ � r - , - � .. , � M First National City Bank )Jt. First Bust�n Corporation ) � Bank of America, N. T. & S. A. )Mgrs. United California Bank [deeden & Co. , Inc. North Carolina National Bank St�phens, Inc. Bank of the Commonwealth ' i�larine National Exchan�e Bank The Chicago C�rporation Thompson & rScKinnon Auchincloss, Kohlmeyer, Ine. Brown Brothers Harriman & Co. Roosevelt & Cross, Inc. Wood Struthers & Winthrop, Inc. Juran & Moody, Inc.