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258815 Orl�inal to Cit7 Clerk � � " .�/ � � - ORDINANCE �� . , COUNCIL FILE NO. ��+�� /� �RESENTED BY . ORDINANCE NO / � � An Ordinance Amending the Cha.rter of the City of Saint Paul (approved by the voters November 3, 1970) so as to Add Provisions and Authority for Borrowing of Funds in Anticipation of Tax Receipts. THE COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN: Section l. Pursua.nt to Minnesota Statutes� Section 410.31, and upon the recommendation of the Cha.rter Comm3.ssion of the City of Saint Paul� the Charter of the City of Saint Paul, as approved by the voters on November 3, 1970, is hereby amended by adding the ' following section to Cha.pter 10 thereof: 10. 16-Tax Anticipation Certificates. The council by resolution� may� without a vote of the electorate, from time to time as the cash in the city's treasury is ina.dequa.te to meet city obligations as they become due, borrow money and execute notes� bonds� tax anticipation certificates or other evidence of indebtedness of the city therefor and in amounts as the council ma.y prescribe. The notes or tax antici- pa.tion certificates sha.11 be payable in the calendar year in which they are issue.d and may bear interest at a rate as the council sh�1..1 determine. The loans shall at no time exceed the �uncollected portion of the tax levy for the current year. The principal for repayment of the obligations or evidence of indebtedness sold in any one year shall be a first cha.rge on the monies received by the city's treasury from the taxes levied in the year for which the obligations or evidence of indebtedness were sold and no part of the money sha.11 be used for any other purpose until the principal and interest on the obli- gations or evidence of indebtedness sha.11 ha.ve been paid or the monies for the payment thereof ha.ve been set apart in the city treasury. No tax anticipation certificates or other evidence of indebtedness sha.11 be sold for less tha.n par and accrued interest to date of delivery. - Section 2. This ordinance sha.11 become effective ninety (90) days after pa.ssage, approval and publication, unless the effective date is delayed by the filing of a petition pursua.nt to law. JUN 2 8 191� Yeas ouncilmen � ��;�-� Passed by the C ncil tler Konopafzl� �� nwaY Levine In Favor � Lev e MereditFi D Mer ' 6 Spr Sprafka Against Tede Tedesco ��N �g 1972 Mr. Pre dent (McCarty�me. Pre 'dent� BQtIeG ��; At t: . Ci lerk Mayor �� . �'orm approved Corporation �ounsel By PUBLISHED JUL 1 �-�12 Daylieab to Prl�tn � � ' , .,'� � �58815 . ORDINANCE COUNCIL FILE NO.r� PRESENTED BY ORDINANCE NO ✓ I D AII t?rdia��C! 3.�g the Gh�s�'tre= o� th! C�.t�r of Saimt �appro�sd b�r tl,e �rot.�ts Ne�ae�ber 3 1974) so as to Add Ps+o�risions sad A�t�or�tp foz Borro�ri�g of P�n�ds in At�ticipatian af Ta�c 1t�+caipts, _ � � 1'� (�U�CIL 01� THS CITY 0!' SAI11T PA�TL DO&S .��All�t � Sectio� 1. larsnant to Mf�mesota Sta��t�es, Sectian 410.31, �md t�e reca�atioa� ot� tl�e t�rrte�r Co�#.ssfon af t�e t'�t� +�tf Sa� Pa�ul, tbe t�arter of the City �f �ai�t Paul, as �p rwtars Qn l�otr�snber ;, 19�4, is �ereby aaeaded ba►►aa�1��tb � iollvring ssction to Cbapter 10 tl�eraof s 10.16-Taa �tticipatian C�rtificat.�s. T� comaail rasolutian, �a�, �r3.th�t a r�ata of t�a �lectorate, �rva� tiae to ti�a ss th� cash 3n Lhe ci��►'s tr�aaury is i�qnatt to �tt city ,oblt�,stios� as th�p hecc�t dne,� boss�r �y and e�ec� aotaes, bo�da! ta�c aaticipatioa certificates or ot�er �ri�e�C+e o€ i�btednass of t�a citp t�refor a�d i� �ts as the cv�matl �sy p��escacibe. 1� n�o�t�es �r �u aatiti� pati�ct ce�rtificates shal►1 be pa�able ia tbe calead�ar ��r in r�3.ch tl�y are iss�td aad �a� brt��c ia�.srsst I� �shall at��t#:t■�r e�cca�dlt�e �xo�llac�t�dne. ?be .lorns t�e tax le�► f or the cvrr�t ��aa. �rti+�a� of Tbe prf�cipal fer repago�nt af tb�e oblizatio�s or evid�ar�e Qf ia�te�ted�ess so�+d f� a� o�s s�►1� b� a f�.rst on the �tes s��d �ti� ci�p's frc�a��=t� ta�oss legi�d ia fi.l� �r�eat �+�c �i.ch ttu� io�s or a�ride�.�a of inciebta�ss wers aold and uo �iif th�e �11 be n�sed far � � . ' pz�ocipal and f�araat +e� - �� or eYi+�eace of i s sball �e �a paid or t�e �afes for tbe pa�a9o�t �� 1�e bss� aet �u�t in t�e city ts�aaa�r. � ta�r a�stfc3prtirsa certi�i�cates ar �t�r a�vide�cs oi� ��b�s� �a11 be �ld #'Qr less tbaa p�r � a�crwd iaGt�st ta d�aC� of d�liv+��y. Sactian 2. � T6is ordtne�e �rha11 bacoes eff�ti�e aias ��0� da�ra �tta�r p , ap�px�ral amd :�blicati�a, �ass tl�e s��.�;�na dst� � d�s�+�i�d b� t�e fi11a� a� a p�titian pc�r�at to Lw. Ye� �ou�«maen x� :.:�-�; Pa,a�ea by the �ounc.�� - J�N a$ 1972 utler KonopatzA Levine '�:�� Mereditti � n Favor 'th �;prafka s --�Q-- ��°� 4 r � T 7edesco � �e.��. _ �r. i�: {�t'r�;Ce�rt�►�N'I me. �'residetitr, ►n�� 2 ` , � A��t: dv 91��2 � Atfk�; G'�j► Clerk Mayor �►� _ Form apprc►�ed Carpvra�ion �ounsel By � _ � ,r. _ . .�._..�..>.: e..�-�_-- _--�.---� _.�.�__ _. __.,,...:_._..�..,....___..__....�z.._.�. _ � _� --�..��_______..._._ , .�.._��_- - - - �,�.�� , � May 25, 1972 The Honorable Charles P. P4cCarty and Members of the Co�:��il of the City of Saint Paul The Charter Ccs?:�`aission of the City of Saint Paul, at its meeting held on 'I`hursday, ��iay 25, 1972, has adopted tcao r:otions requesting that tl�e City Council a.Tnend the new City C�.arter sa as to add a new Sec�ion 10. 16 pertaining to the borrc�ving in anticipation of tax rsceipts and also a new Section 13 .05 pro- viding procedures for th� vacation of street�, alleys and ot��r public grounds. Enclosed and attached please find p��aosed ordinances containing the chang�� recor��nded by the Charter Comrnission. The Charter Coruaission does �h.ereby request and recor��m�nd that the Citg� Council adopt the t��o charter arn�r.�-apnts by ordinance in the raanner provid�� by law. Very truly yours, �i��..�t ��-, r/�-�� G� (Mrs. ) Frances Boyden Secretary, Saint �aul Ch3�ter Commission NOTTCB O!' PiTBy;��} Na11ce 1s h � � • ; aea��r�the C • �t, ��+ ho �<. J d a- ,. arn Cc�u.�'�; �' d ar �t otditlluN � ��1as the�,�h r o� tlie �t�`T ' of � ,No- asd � � t x8t oi o �. �:��°, � � � ' er.ter the � . ��y � r �' S � Y ' �.t � -rr,.,� � � �� '� tt�4� , �� .: xllsc». tion o3:th' � � City ot�tmt • � VoteT' ' e ti� '� �' 10.�'��c A� ��. iviEhqttt t y ��Y• �o�i Ep ` .. . ci�� te meet •�ii! ezecuta no�; b°°ds' t� IH► °�r, .� ' � �ss, ..,� »s�#V` e� tr�a y�; u��o �s , ,�st E1� `ihe�ulix�.a�1- �, ��=1�lor, .�1it"" the uEE� _ �i��t: b� � "� d 'Y � � v � . �� a�id ia �' e� or been pol� e �t ': � , ��_� or' other �denal t�t itsdebtedaess ehau be �er��at�d�e1�y+��Brued .: Sectio��. � ' ��become eeptt,pmcklve gdttag publicatioa ',unit��t e� etFsctive �Or�'pusruant#o��aw e ��of.a �ebi_ beted A�Ph�''9p,q971. '� . . _ ��ity��' (TatAe S,1972) • . NOTICE OF PUBLIC HEARING Notice is hereby given that the City Council of the City of Saint Pau1, Minnesota, will hold a public hearing on June 22nd. 1972 at 10:00 A. M. in the Council Chamber in the City HaLl and Court House to consider the approval of an.::or�linance, being C. F. 258815 amending the Charter of the City of Saint Pau1 (approved by the voters November 3, 1970), so as to add provisions and authority for borrowing of funds in anticipation of tax receipts. The �e+�t (� -�-��-t� of the ordinance is as follows: ,-.� ,F _ � _ . . ' , , # An Ordinance Amending the Charter, u"�• Lu�;: ' f` City of Saint Paul (approved by trp ;,�t��.:� ` �� November 3 1970 so as to Add Provisions � • � and Authority for Borrowing of Funds in ;. �� { Anticipat�o�.A of Tax Receipts. _-:� i�. j; THE COUIv'CIL OF THE CITI' OF SAINT PAUL DC�ES ORDAIN: � g ' � � ,: ; ; Section 1. { ,, � � Pursuant to Minnesota Statutes, Section 410.31, and upon the � �' i recommendation of the Charter Co�ission of the City of Saint ,; � PauZ, the Charter of the City of Saint Paul, as approved by the � �. �' voters on November �, 1970, is hereby amended by adding the �+ follawing section to Chapter 10 thereof: _ � t � � 10.16-Tax Anticipation Certi£icates. � �� - � The council by resolution, may, without a vote of the ; r� electorate, from time to time as the cash in the city's � = treasury is inadequate to meet city obligations as � ; they become due, borrow money and execute notes, bonds, T� � tax anticipation certi,ficates or other evidence of � #1 indebtedness of the city therefor and in amounts as : �j the council may prescribe. The notes or tax antici- ? ,�-: j pation ce-rtificates shall be payable in the calendar , +� � year in which they ar� issued and may bear interest �_ ;,� � at a rate as the council shall determine. Ttie' loans : " � shall at no time exceed the uncollected portion of � �,..� �� ` the tax levy for the current year. � `p� _;� _ � �, ��r �i The princ.ipal for repayment of the obligatior.s or ' � :; evidence of indebtedness sold in any one year stk311 ' be a firs� charge on the monies receive�l by �he city's ' '` treasu;-y from the taaes leviec� in the-y�ear f or which � {t:, x the o�ligations or evi.dence of indetS�ednes's ��ere sold �;T� ` � and no part of the money_ shalZ be used for' any c.t-her i � � purpose until�the �irinci�aT' aa.d interest on th� ooli- ; � �, gations or �vrdence of indebtedness shaxli have ueen 3`� paid or the c�.onies for the payment thereof have been � �; '� set apart /'in the city �reasury._. No tax�anticipation � �` .� i. certifica�tes or otner evidence of indebtedness sha11 ., � ' �� ' � jl be sold for less than par and accrued interest to date i ;; '� , ' � " . of de�ivery. r ' � � �- �- SectiQn 2. �' � �! '� � . � , ,,� , � This ordinance si-nall,becdme effective ninety (9Q) days after �- passage, approval and publ.ication, unless- the e£fective date is a ; delayed by the filing' of a petition pursuant to law. �\ ; " � � • �, ( `'=t. . Dated l�y 30, 1972. Harry E. Marshall City Clerk (June 3, 1972) � I _ , �� /. _ , _/ � �,- — � �� ,'" . /'- �,� lst � ' 2nd ` 3rd A�opted Yeas Nays � �fiUNT �O:VOPATZKI � �� EVINL � � �REDITH �'"'�SPRAFK�. � �TEDESCO , �� ime PRESI�ENr (gUTLER) Ist �� .� ' 2nd � a . � Laid over to 3rd and app � _._Adopted � � Yeas Nays Yeas Nays �' Butler Butler � Carlson Carlson �� Levine ;�5��5 Levine J�a � Meredith Meredifh�� ;. b ,� Sprafka Sprafka a`` ,;' . �,, Tedesco Tedesco � ( �V � Mr. President McCari�y Mr. President McCari�y O . � /� s- � V � � v � �