260716 ' WH17�• - CITY CLERK � ��7(�
PINK - FINANCE COl1I1C11 �•�'���j
�BLUERY - MAYO{�TMENT GITY OF SAINT PAUL File NO.
� � ouncil Resolution
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Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the Council of the City of Saint Paul , by its
Resolution, Council File No . 260620, approved February 6, 1973,
. authorized the issuance and sale of obligations of �the City of
Saint Paul in the amount of _�4,000,000 for the purpose of pro-
viding cash to meet the City' s obligations , as they become
due , and in anticipation of the receipt of taxes during the
current calendar year, in accordance with the provisions con-
tained in Section 10. 16 of the Gity' s Charter, and in accord-
ance with said resolution the proper City officers have caused
the proposed sale of obligations of the City to be advertised,
requiring sealed bids to be submitted on February 21, 1973�
and as the bids were submitted and opened, examined and tabu-
lated by the City �irector of Finance and Management Services ,
and said Director made the recommendation to the Council that
the b i d of THE FIRST NATIONAL BANK OF SAINT PAUL
was found to be the most advantageous , therefore be it
RESOLVED� that the bid of THE FIRST NATIONAL BANK OF SAINT PAUL
be accepted, and the Mayor, Gity Clerk and Director of the
Department of Finance an.d Management Services- be authorized
and directed herewith to execute , on behalf of the City of
Saint Paul, said promissory note for the sum of �4, 000, 000�
to be paid by the City on or before August 27 , 1973, with
interest thereon from the date of February 27, 1973J at the rate
of 3.30 per cent per annum (computed on the basis of actual days and a year
of 360 days.)
COU[VCILMEN Requested by Department of:
Yeas Nays �
.�'_ ,� �.
Konopatzki �� In Favor
Levine
Meredith��� �_ Against BY
Te,�
Mme.President Butler i'ED O 1 ��
Form Approved by ity t orn
Adopted by Council: Date
Certifi ed by Co 1 S r ary By
By
Approve by Ma r: ate - Appr ved by Ma or ' n t uncil
By By
FUBLI3HED F�B 241973
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� - - - - February 21, 1973
rir. Robert W. Trudeau, Director � �
Department of Finance and Management Services
City of Saint Paul
109 City Hall .
Saint Paul, Minnesota 55102
Dear Sir: �
In accordance with your Notice dated February I0, 1973, requesting
bids for a $4,000,000 borrowing in anticipation of taxes, and information
setting forth the terms of said borrowing, we submit our bid as follows: '
Principal � $4,000,000.00 -
Interest rate � ,7S y .
LESS ��Z�rn,u v� � y b,o u
— Interest due and payable �
August 27, 1973 (180 days) $ 7�{,q(�0
If we are the successful bidder, we will accept delivery of the
p���scr�y executed note(s) of the C�.ty of Saint Paul on F.ebruary 27, 1973, with
payr�cnt in Federal Fun4s or other immediately available funds on the day of
, deliW�_�zy. � .
Very truly yours,
__ BancNorthwest
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- Thomas C. Brower,
. . Assistant Vice President
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THE FIRST NATIONAL BANK OF SAINT PAUL
ST. PAU L� M I N N ESOTA 5510I r'� AREA CODE 612-291-5000
�;Er(EFi �
BANK BOND PORTFOl10
�� .. EDWARD D. CHAPIN, VICE PRESID[NT . . _ _ . , d�=,Zp�_»��
WILLIAM J. LATUSKY, oOND WRTFOLIO OFFIC[R - • 61Z•291•5720
' � February 21, 1973
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1�1r. Robert W. Trudeau, Director
Department of Finance and Management Services
City of Saint Paul
109 C ity Hall
Saint Paul, Minnesota 55102
Dear Mr. Trudeau:
In accordance with your Notice dated February 10,
1973, requesting bids for a $4, 000, 000 borrowing in anticipation
of taxes, and information setting forth the terms of said borrowing,
we submit our bid as follows:
Principal $4, 000, 000
Interest rate 3. 30%
Interest due and payable
August 27, 1973 (180 days) $66, 366. 67
If we are the successful bidder, kindly furnish us
with the following papers:
(1) a certified copy of the resolution authorizing
this borrowing
(2� an approving opinion of the Corporation Counsel
Since rely,
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Vice Presi�dent 4 `
�$C em
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