262901 R
WHI7E - CITV CLERK 2�2���
PINK - FINANCE GITY OF SAINT PAUL Council
CANARY - DEPARTMENT �!
�LUE--'�= MAYOR File NO.
Cou c 'l Resolution
� �
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS� In accordance with Cha.pter 767, La.ws of Minnesota
for 1973, employees of the City Health Bureau who were members of
the Bureau of Health Pension Fund established pursua.nt to Minnesota
Statutes, Chapter 425� were transferred to and became members of
the Public Employees Retirement Association; and
WHEREAS� Said Chapter 767 requires tha.t the City of Saint
Paul shall pa.y the Public Employees Retirement A�ssociation for
the reserves required to be deposited July 1, 19''�73, with the
Minnesota Adjustable Fixed Benefit Fund to support the benefits
being paid to the retired persons transferred pu�rsuant to the act,
and also pa.y to the said Association for the pas't service obliga-
tions for the active employed members of the Bureau of Health; and
WHEREAS� The total obligation of the City of Saint Paul to
the Public Employees Retirement Association ha.s been calculated by
the actuary in accordance with Cha.pter 767 and r�eported to the
City Administrator, the obligation being in the amount of
$1, 122,544.42 as of July l, 1973, plus interest from July 1, 1973,
at a rate of 6% per annum; and I
WHEREAS� The City of Saint Pau1 is authorized by said Cha.pter
767 to sell bonds in such amount as will provide' funds to pay the
Public Employees Retirement Association the entire unpaid balance
of the total obligations; now, therefore, be it
RESOLVED� Tha.t theCouncil of the City of Saint Paul does here�
by authorize the issua.nce and sale of general obl.igation bonds of
the City in the amount necessary to pay the Public Employees
Retirement Association the total obligation required by Cha.pter
767, Laws of Minnesota for 1973; and be it
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COUIVCILMEN
Yeas 1Vays Requested by Department of:
Hun t
Konopatzki In Favor
Levine
Meredith Against BY � -
Sprafka
Tedesco
Mme.President Butler
Form Approved by Ci�y At orney
Adopted by Council: Date '
Certified Passed by Council Secretary BY
BY .
Approved by Mayor: Date Approved by Mayor for Submission to Council
?
By BY
�
WHI7E - CITY CLERK � 1A-)(��,
PINK - FINANCE TT COl1I1C11 ��/i�,�
�B,LUER'1- MAYORTMENT GITY OF SAINT PAl1L ', Flle NO. �rvt►e. �
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
2 .
FURTHER RESOLVED� Tha.t the Director of the Department of
Fina.nce and Ma.na.gement Services is hereby authorized and directed
to initiate the proceedings and prepare the appropriate documents
looking toward the sale of such bonds and report all such action
to the City Council Subcommittee on Finance and Sinking Funds .
,
r
COUIVCILMEN Requested by Departtqent of:
Yeas g/�Qy Nays
K�o�nopatzki � In Favor ,
:.:��
Meredith ✓ Against BY
'���bv
Tedesco
Mme.President�z�,�' �p N 9 �g I�4
Form Approved by City ttor�
Adopted by Council: � Date ;
Certified P by C uncil ecretar BY �
By ��� V =� � '
1
Appro by MaXo : Date Approved by Mayor for Su mission to Council
By BY
PUBLISHED ,�A�V j � �974 ,