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257408 ORIGINALrI'O CITY CL6RK ��w�[� ' . CITY OF ST. PAUL �LE NCIL NO i '��` � I OFFICE OF THE CITY CLERK COUNCIL RESOLUTION—GENERAL FORM u PRESENTED BY COMMISSIONE pTF RESOLVED, by the Council of the City of Saint Paul, that it satisfactorily appears from the pertinent report of the Commissioner of Finan.ce and said Council finds that the cash in said Cityts Treasury is and will be inadequate to meet the Cityts obligation.s for the eurrent calendar year to the extent of Six Million Dollars (�6�000�000.00) , and that said Cityts share of the uncollected portion of the real estate and personal property taxes levied for the current cal- endar year and to beeome payable to said City for the applica- tion to the payment of its said obligations for the current calendar year represent an amount in excess of Six Million Dollars (�6� 000, 000.00) ; that it is necessary for the meeting of the said City�s afore said obligati.nn�: that _its .Sinking Fund Committee be and said Committee he reby is authori zed in behalf of said City, under and pursuant to Section 219 of said Cityts Home Rule Charter, to borrow the sum of Six Million Dollars (�6, 000,000.00) and to execute and deliver the notes of said City therefor in the aggregate prin.cipal sum of Six Million Dollars (�6,000,000.00) payable within the current calendar year and within not to exceed six (6) months from the date of the same , with interest on said principal sum at a rate not to exceed seven percent ('7/0) per ann.um, and to pledge the share of said City in the aforesaid uncollected portion of said real estate and personal property tax levies for the current ealendar year; and be it FURTHER RESOLVED, that in the event of such borrow- ing hereunder, the sum borrowed� �ix Million Dollars (�6�000�000.00) shall be deposited in the City Treasury to supply said eash deficiency therein in respect of the funds available for the meeting of said City's obligations during the eurrent calendar year, such cash deficieney being, as aforesaid, in the principal amount of Six Million Dollars (�6,000,000. 00) and that � to the extent of any such borrowing hereunder, on behalf of said City, for said purpose, said City' s share of such uncollected real and personal property COUNCILMEN Adopted by the Counci� 19— Yeas Naya FORM APPROVED Butler � �..,,,��:r�.. °��.��Q._. Carlson Asst. Corporation Counse Approve� 19_ Levine _�� Favor Meredith � � Mayor Sprafka � Tedesco A gainst Mr. President, McCarty �� OR161NA`TO CITY CL6RK 2�'�4Q�g ,, � ._ CITY OF ST. PAUL CF.OLENCIL NO. ' OFFICE OF THE CITY CLERK COUNCIL RESOLUTION-GENERAL FORM Y PRESENTED BY -. ' COMMISSIONER �qTF Page 2. tax levies for the current year shall be hereby deemed pledged to secure the repaymen.t of the sum or sums borrowed as evidenced by said City's note or notes, both principal and interest� which shall be executed and delivered hereunder, said City's share of such �ncollected tax levies for the current year representing an amount in. excess of Six Million Dollars (�6, 000,000.00) plus interest thereon at a rate not to exeeed seven percen t (7�) per annum which might accrue on any such authorized notes. F E8 151972 COUNCILMEN Adopted by the Counci� 19— Yeaa Naya But�er FE8 15 1972 �al�xi Conway •ove� 19— Levine ,�n Favor Meredith Sprafka J Mayor Tedesco AS��►$t Mr. President, McCarty PUBLISHED B 191�7� �� pY�LICAT[TO�RIM1�R 25'7408 � - , CITY OF ST. PAUL �u�� ND OFFICE OF THE CITY CLERK ° COUNCIL RESOLUTION—GENERAL FORM ►R�T�.r .. COMMISSIONER - DATE R�SOLVED, by the Coun��il o� the City oi Salat Paul, tbst it �atl�iivtorily appears lro� ths p•rtiaee�t r�port oi th� Codi��ioner ot Finanoe and •sid Connoil liad• that the os�h in �aid C1ty�a Treasury i• and�puill b� insdequate to , , .- �eet the �tty'� obligations !or tbe ourrent oa1•ndar year ,� to tha s=ten�t oi Siz Millioa Doliars (�6�044�000.00), and that raid City�� ihare oi the uncolleoted portion oi the real s�tate and personal property tazes lsvied iar tbe ourrent oal— eadar ysar and to be000e payable to said City ior th� spplioa— tion to the pay�eat oi its said obli`ation� ior the ourrent oal�ndar ear represent aa a�onnt in ezos�� oi �iz Miliion Dollars (�6,000,000.00) ; that it is neoe�aary tor the �e•tias oi tbe eaid City�s aloresaid obligationt that i�� Sinlcins F'nnd Comsit tee be a�l said Cossit tes 6e reby ia anthori s�d in be6ali ot �aid Citq, under and pnrsaast to 3eotion 819 oS said City's Hove ltuls Charter, to borroM th� sn� oi 3iz Million Dollar� (�6�OOU,000.00) and to szeouts and delifer the notes oi •sid City theraior in tbe a �re6ate prisoipal snn ot 31z Million Dollaro (�6,000,000.00� payable �vithin the ourrent oalsndar ��ar and Mithin not to ozoeec! •iz (6) �oath� lrov the date o�� the $a�e, Mitb interest on eaid prinolpal �u■ � at a rate not to ezoeed aevan peroent (79�) per annuo, snd to pledge the share ot raid City in the aioresaid unooll�oted portion oi �sid real erta�e aad personal property taa leoiss ior the ourr�nt oeleadar year; aa8 be it F[TBTHES RESOLYED, that in the event oi snoh borroM— i here�mder, the sua borrowod, Hiz Milllon Dollars (�,000,000.00) shall be depvrited in the City Tressury t�o anppiy said cash deiioienoy the rein in re�pe ot o= the ttiiads nvailabls !or the �eetin� o! •aid City's obli�atioas dnrina tbe ourrent oa2andsr year� �uoh oash d�iioienoy b�ing, aa siorssaid, in the prinoipal evount oi Siz Million Dollars (�6,000,000.00) and thet , to the e:tent oi sny auoh borroMlns herenndsr� on behalr oi asid City� ior said pnrpose, said City'• share oY •uoh nnoolleotad real and personel property COUNCILMEN Adopted by the Coun�� 19_ Yeae Nays Butler Carlaon Appro� 19— Levine T� Favor Meredith Sprafka � ��r roaNl111A'r, Tedesco Mr. President, McCarty �8 . ourucr►n re�RiNrs�e �574�8 � � . CITY OF ST. PAUL �r�� NO. OFFICE OF THE CITY CLERK COUNCIL RESOLUTION—GENERAL FORM .��u etr � . COMMISSIONER oA*F Pa6e 2. ta�c laviee ior the ourront yasr shall be he re b� dee�ed pled6ed , to seonre tbe repaynest oi the eu' or rn�� borroMed as avid�noed by said City's note or aotes, bot6 prfnoipal and interest, Mh1oh ohall be ezeouted and deli�ered hereunder, �sid Citq's share oi •noh anoollsotsd taz levi�s for ths ourrent ear representin� en a�ount in •zoe�s oi 3iz Millioa Dollars (�6,000,04Q.00) Pln• interest thereon at a rste not to ezoeed seven peraent (?'�) per snnus Mhioh sigbt socrne on any suoh �uthorised note�. FE8 i 5 1972 COUNCILMEN Adopted by the Co��nci1 19_ Yeaa Nays � Butler 15 A�v� FEB �e- � ConMSy �°�e Favar Meredith Sprafka ��r '� Againat Tedeaco Mr. President, McCarty ��