264281 WH17E - CITV � ERK 264281
PINK -'FINANCE CITY OF SAINT PALTL Council
C.ONAR;G DEPARTMENT
B�LICy -MAYOR
, File N 0.
ncil Resolution
Presented By
Referred To Committee: Date
0ut of Committee By Date
WHEREAS:
A. The council has by Resolution No. 264217
adopted on September 11, 1974 and approved by the Mayor
on September 13, 1974, authorized the issuance and sale
of $6,000,000 Urban Renewal Bonds, Series 1974-K to be
dated October 1, 1974.
B. The appropriate City Officers have, pursuant
to said resolution, caused proper publish�d notice
of the sale of the bonds to be given as required by law
and sealed bids, pursuant to said Notice of Sale, were
received until 10:00 o'clock A.M. , Central Daylight Savings
Time on Wednesday, September 25, 1974, in the office of the
Director of Finance and Management Services, Accounting
Division, of the City of Saint Paul; and
C. The Director of Finance and Management
Services of the City has advised the Council that the bid
of Kidder Peabody & Co., Inc, & Assoc.
was found to be the most advantageous, and has recommended
that said bid be accepted.
NOW, THEREFORE, be it resolved that
�
1. The bid of Kidder Peabody & Co., Inc. & Assoc.
to purchase $6,000,000 Urban Renewal Bonds, Series 1974-K
of the City in accordance with the Notice of Sale
at the rates of interest trereinafter set forth and to pa ,
therefore, the sum of $6,000,000 plus a premium of $274.�0
COUNCILMEN Requested by Department of:
Yeas Nays
Christensen '
Hozza In Favor
Levine
Rcedler Against BY
Sylvester
Tedesco
President Hunt
Form Approved b City Attorne
Adopted by Council: Date
C�ified Passed by Council Secretary BY
�
By
Approved by Mayor: Date Approved by Mayor for Submission to Council
By By
� �64281
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;
2. The Director of Finance and Management
Services is directed to retain the deposit of said
bidder and to forthwith return the good faith checks
or drafts to the unsuccessful bidders;
3. Said bonds shall be payable as to prin-
cipal and interest at The First National Bank of Saint
Paul, in Saint Paul, Minnesota, or The Chase Manhattan
Bank, N.A. , in New York, New York, at the option of the
holder;
4. The bonds bearing the serial numbers and
maturing in the years as follows shall bear interest
as follows:
ears Serial Nos. Interest Rate
1977 thru 1992 C-1 to C-580 6.3%
1993 thru 1995 C-581 to C-690 6.4%
1996 thru 2004 C-691 to C-1200 6.5%
5. The Council hereby ratifies and approves
each and every act of the Sinking Fund Committee in
connection with the sale of the said bonds;
6. Said bonds shall be executed by the fac-
simile of the official seal of the City of Saint Paul
lithographed thereon and signed by the lithographed
facsimile signature of the Mayor, attested by the litho-
graphed facsimile signature of the City Clerk and
countersigned by the manual signature of the Director of
Finance and Management Services and the interest coupons
attached to each bond shall be executed by the litho-
graphed facsimile signatures of said officers;
-2-
WN17E - CITY CLERK ^�y� .^��
PINK -FINANCE COl1I1C11 i� �
CANARY - DEPARTMENT GITY OF SAINT PALTL �rv Ir
B'LUE ' �MAYOR
File N 0.
� cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
7. The bonds of said issue shall be dated October 1,
1974, and shall be numbered from C-1 to C-1200 both inclusive.
Interest on said bonds will be payable April 1, 1975 and
semiannually thereafter on October 1 and April 1 in each year;
and
8. Bonds of this issue maturing in the years 1985
to 2004, both inclusive, are subject to redemption and prior
payment at the option of the City in inverse order of their
serial numbers on October 1, 1984, and on any interest payment
date thereafter at par and accrued interest plus a premium of
$75.00 if redeemed before October 1, 1991; at a premium of
$50.00 if redeemed on or after October 1, 1991, and before
October 1,1996; at a premium of $25.00 if redeemed on or after
October 1, 1996, and before October 1, 2001; and without
premium if redeemed on or after October 1, 2001. Notice of
redemption shall be given by publication of a notice of
redemption once in a daily newspaper of general circulation,
or in a daily financial paper, published in the City of New
York, New York, and printed in the English language, and
once in a daily or weekly periodical published in a Minnesota
city of the first class, or its metropolitan area, and printed
in the English language, which circulates throughout the State
and furnishes financial news as part of its service, such
notice to be put�lished not less than thirty days prior to the
date fixed for redemption, and if such notice shall have been
given and payment hereof duly made or provided for, interest
hereon shall cease from and after the date $o fixed for
redemption.
-3-
COUIVCILMEIV Requested by Department of:
Yeas Nays
Christensen
Hozza In Favor
Levine �
Rcedler Against BY
Sylvester
�edes�v'
President Hunt
Adopted by Council: Date
S E P 2 5 1974 Form Approved by 'ty At rney f
Certified d b oun ' cre BY �
_
B s�,'
Appro by Mayor: Date Ap roved by Mayor for Submissio�to Council
By By
� PUgUSHED SEP 2 8 1974.
+ . • CITY OF SAINT PAUL, MINNESOTA �, � �(�
LIST OF BIDS RECEIVED SEPTEMBER 25, 1974
�56,000,000 URBAN RENEWAL BONDS, SERIES 1974-K
NAME OF BIDDER COUPON RATE PREMIUM NET INTCItI.ST I��ST
Kidder, Peabody & Co. Incorpor�ted) Joint 1977 - 1992 6.30% 274.00 $ 6,872,726.00*
lteynolda Securiti.es, inc. ) 'Managera 1993 - 1995 6.40' (6.43513%)
Ii. W. Proasprich & Co. Incorporated 1996 - 2004 6.50
Stone & Webster Securitiea Corporation
Alex. t3rown & Sons
Moseley, Hallgarten & Estabrook, Inc.
Paine, Webber, Jackson & Curtis Incorporated
American Securities Corporation
Allen & Company
Boland, Saffin, Gordon & Sautter
Julien Collins & Co�any
Geo. B. Gibbons & Company, Incorporated
The Illinois Campany
McDonald & Company
Wm. E, Pollock & Co. Inc,
Tripp & Co. , Inc.
Dain� Kalman & Co. I.ncorporated
A. G. Edwarda & 5one, Inc.
Freemen Securitiee Company, Inc.
Hees, Grant & Fra�ier, Inc.
Howe� Barnea & Johnaon, Inc.
Jdnney, Montgomory Scott, Inc.
The Milwaukee Company
Murch & Co. Inc.
W. H. Newbold's Son & Co.
Newhard, Cook & Co.
Rand, McKay & Lyon, Inc.
Rauscher Pierce Securities Corporation
Schaffer, Necker & Co.
I.M. Simon & Co.
M. B. Vick & Company, Inc.
Bankere Trust Company ) 1977 - 1990 6.10% 56.00 6,874,894.00
Blyth Eastman Dillon & Co. , Inc.) Jt. 1991 - 1994 6.25 (6.437167%)
Chetnical Bank ) Mgra. 1995 - 1997 6.50
Kuhn, Loeb & Co. ) 1998 - 2004 6.60
Smith, Barney & Co. , inc.
Lehman Brothers, Incorporated
Republic National Bank of Dallas
Shields & Company, Inc.
Firet of Michigan Corporation
Bacon, Whipple & Co.
The National Shawmut Bank of Boaton
Parker/Hunter Incorporated
Firat National Bank in St. Louis
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