261240 WH17E - CITY CLERK CO1111C11 ��� n
PINK - F�IN�ANCE
���e�v'"MiiS'ORTMENT GITY OF SAINT PAITL File NO. �� (/�
uncil Resolution
Presented By � '
Referred To Committee: Date
Out of Committee By Date
WHEREAS :
l. The Council has by Resolution No. 261og8r
adopted on April 19, 1973, author�.zed the issuance and
sale of $2,000,000 Water Pollution Abatement Bonds ,
Series 1973 to be dated May l, 1973;
2, the appropriate City Officers have, pursu—
ant to said resolution, caused proper published� notice
of the sale of the bonds to be given as required by law
and sealed bids, pursua,n� �o said Notice of Sale, were
received until 10 :00 o' clock A.M. , Central Daylight Time
on Wednesday, May 9 , 1973, in the office of the Director
of Finance and Management Services,� Accounting Division,
of the City of St. Paul; and
3 . the Director of Finance and Managemen�
Services of the City has advised the Council that the
b id of Bankers Trust Company and Associates,: including The First
National Bank of Saint PauT •
was found to be the most advantageo�s, and has recommended
that said bid be accepted.
� . ,. :� __._ ,..
,"z.�:+g,;tjw'��b-�€��.... . . .. � . _.
NOW, THEREFORE, be it resolved that
1, the bid of Bankers 1`rust Company and L�issociates,
includirig The First National Bank of Saint Paul•
to purchase 2,000,000 Water Pallution Abatement Bonds,
Series 1973 of the City in accordance with the Notice of
Bond Sale at the rates of interest hereinafter set forth
and to pay, theref ore, the sum of $2,000,000 plus a
premium of $ 19.66 is hereby found, determined and
COUNCILMEN
Yeas Nays Reqnested by Department of:
x� Butler �� �
Konopatzki In Favor
Levine
Meredith Against BY `` �
x�xa�cacx Roedler
Tedesco
Mme.President�� Hunt
Form Approved b City Att rney
Adopted by Council: Date
Certified Passed by Council Secretary BY
By
Approved by Mayor: Date Approved by or for Submission to Council
�
By BY
r �, ,r ? � . .-.-�,��:. ..... .- ' . . ". r. �
�s1���
declared to be the mo�t favo .rable Qid received and is
hereby accepted and �aid bonds are herebSJ at�rarded to
said bidder;
2. the Director of I'inance and r�2ana�ement
Service� is direc�ed to re�ain the deposit of said
bidder and to fortr�with return the good faith checks
or drafts to the unsuccessful bidders ; �
. 3 . said bonds shall. be payable as to
principal and interest at The First Na�ional Bank of
Saint Paul, in St . Paul, Minnesota, or The Chase
1`�iar.na�fian Rank, N.A. , ?n Ne�1T i�nrk; NeG; York, at f..he
option of �he holder;
4 , the bonds bear. ing �he serial numbers and
maturing in the years as follows shall bear interest
as folloU�s :
Interest
Years Serial Nos . Rate
1976 thru 1978 AAA- 1 to AAA- 32 4.50% �
1979 thru 2003 AAA-33 to AAA-400 5.00%
5, the Council hereby ratifies and appro�es
each and every act of the Sinking rund Cow�-:ii.ttee i�
connection with the sale of the said bonds ; �
6. saicl bonds shall be executed by �71e , f�e-
simile of the official seal of the City of St . Paul
lithographed thereon and sigi�ed by the li�hographed
facsimile signature of the P�Iayor, attested by the lztr�o-
graphea facsiriile si�;nature of Lhe Ci_ty Clerlc �nd
countersigned by the manual s_ignature of the Director
of Finance and I��Zana�ement Service:� arrd i,he interesf col�-
pons at�ached to each bond shall be execu�;ed by the
lithographed facsimile si�;natures of �a�d officers ;
-2-
WH17E - CITY CLERK C011l'1C11 ��+��
PINK - FINANCE GITY OF SAINT PAUL
CANARVa- DEPARTMENT
9LU�Fj ���1- M.RY O R File N O.
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
7 . the bonds of said issue shall be dated May
1, 1973, and shall be numbered from AAA-1 to AAA-400 both
inclusive. Interest on said bonds will be payable November
1� 1973 and semiannua.11y thereafter on May 1 and November
1 in each year; and �
8 . bonds of said issue, ma.turing in the years
1984 to 2003, both inclusive, sha.11 be subject to redemption
in whole or in part in inverse order of their serial numbers
on Ma.y 1, 1983 and on any interest payment date therea�'ter
at a price of pa.r plus accrued interest plus a premium .of
$125.00 if redeemed before May 1, 1990; at a pr�mium of
$100.00 if redeemed on or after Ma.y 1, 1990 and before M,ay
1, 1995; at a premium of $75.00 if redeemed on or after
May l, 1995 and before May 1, 2000; and at a premium of
$50.00 if redeemed on or after May 1, 2000. Notice of re-
demption shall be given by publication of a notice of
redemption once in a daily newspaper of general circulation,;
or in a dail� fina.nci�a.l pa.per, published in the City of New
• York� New York, and printed in the English langua.ge, and
once in a daily or weekly periodical published in a Minnesota
city of the first class, or its metropolitan area, and
printed i� the English langua.ge, which circulates throughout
. the State and furnishes fin�ncial news as part of its service,
such notice to be published not less tha.n thirty nor more
tha.n forty-five days prior to the date fixed for redemption,
and if such notice sha.11 have been given and pa.yment thereof
duly ma.de or provided for, interest thereon sha.11 cease from
and after the date so fixed for redemption.
COUNCILMEN
Requested by Department of:
Yeas '�i'"' Nays
�i'Q
Konopatzki � In Favor
Levine
Me� g�e� Against BY
T_!____
Mme.President� ��
�AY 9 �� Form Approved by City Att ney
Adopted by Council: Date �
Cer ' ' P ssed by retary BY
Approv y M or:' at Approved by Mayor for Submission to Council
By BY
PUBLiSHED �AY � 2 1���