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253071 • ��r�� . -�2f81NAL TO CITY CL6RK . � '_ � CITY OF ST. PAUL �o�Nca NO. ' OFFICE OF THE CITY CLERK � COUNCIL RESOLUTION—GENERAL FORM PRESENTED BY COMMISSIONE ATF RESCiLVED� by the Gounc il 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 City� s Treasury is and will be inadequate to meet the CityTs obligations for the current calendar year to the extent of Six Million Dollars (�f,000�000.00) � 'and that said City� s 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 aforesaid obligations that its Sinking Fund Committee be and said Committee hereby is authorized in behalf of said City, under and pursuant to Section 219 of said City�s Home Rule Gharter, 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 principal sum of Six Million Dollars (�6,000,000.00) payable within the current ca�e,ndar year and within not to exceed six (6) months from the date of the same , with interest on said principal sutm at a rate not to exceed seven percent .(,7�) per annum, 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 calendar year; and be it FURTHER RESOLVED� that in the event of such borrow- int hereunder, the sum borrowed, Six Million Dollars (�6, 000,000.00) shall be deposited in the City Treasury to supply said cash deficiency therein in respect of the funds available for the meeting of said City�s obligations durin.g the current calendar ye ar, such cash deficiency being, as aforesaid, in the principal amount of 5ix Million Doll'ars (�6�000,000. 00) and that, to the extent of any such borrowing hereunder, on behalf of said City, for said purpose, said Cityts share of such uncollected real estate and personal property tax levies for� the current year shall be hereby COUNCILMEN Adopted by the Council 19— Yeas Nays FORM APPROVED Butler ��y„_,...,^�� , - Carlson Asst. Corporatron Co n�sef — Approve� 19— Levine _�n Favor Meredith Sprafka ��r A gainst Tedesco Mr. President, McCarty �� 161NAL TO CITY CLlRK � ��p�� ,.�� '„ CITY OF ST. PAUL couNC�� J�� „� NO. ` ` OFFICE OF THE CITY CLERK ' COUNCIL RESOLUTION—GENERAL FORM PRESENTED BY COMMISSIONER DATF Page 2. deemed pledged to secure the repayment of the sum or sums borrowed as evideneed by said Cityts note or notes, both principal and interest, which shall be executed and delivered hereunder, said Gity�s share of such uncollected tax levies for the current year representing an am ount in excess of Six Million Dollars (�6,000,000.00) plus interest thereon at a rate not to exceed seven percent (7�) per annum which might accrue on any such authorized notes. MAR i 71971 COUNCILMEN Adopted by the Counci� 19— Yeas Nays But�er MAR 1 ? 197� Carlson A 19— Levine .�._In Favor Meredith / Sprafka � Mayor Tedesco A Sainst Mr. President, McCarty �AR 1 8 �� PU�3LI��ED �� DUPLi�/1T[E'k�1�INT6R ��1 , CtTY OF ST. PAUL �,�� ND �`� j. O F F I C E O F T H E C I T Y C L E R K ` COUNCIL RESOLUTiON--GENERAL FORM ��.� COMMISSIONER DATE BBSOLYFD� by the Counoil oi ths City oi Sain� Faul� tbst it •ati�taotoriiy app�srs lro� ths pertlnsnt �port oi the Co�uisaioaar of Finanoe and said Counoil tiad• that ths oa�b ia said City's Treasury is aad �+ill be lnedequate to ��et the C�ty�s obiitation� ior the ourrsnt oalendar ysar to the eztent oi Siz Million Dollars {�,000,000.00), and that said City'� shere ot the unaolleoted portion o! the resl estate and peraonaY propsrty tszea levied ior the ourrsnt oai- endsr year aad to bsoo�re peyable to e+�id City !or th• applios- tion to the pa�nt o! its •aid oblisations ior ths ou=rtst oalendar ear reprssent an a�oe�nt in esos�a oi Sia Killion Dollars (�6�000,000.00); that it is nscesoary tor th� �s�tias oi the •aid City'a store�aid obligatian� that itr Sia#cin� Fnnd Co�sittee be and said Com�itt�e bsreby is anthorised tn behs2i of �aid City, un�dsr and pur�nsnt to S�otioa Q19 oi oaid City�s Ho�e Bul• Chsrter� to borro� the su�a oi Siz l►tillion Dollar� (�6,000�000.00) anll to szeonte and dalivsr �he not.• o! •aid City thereior in the a gre`ats principsl su� Qi 3iz Million Dollars (�,000,000.00� pa�tabie Mithia the ourreat oalendsr year snd Mithin not to ezosed si3 (6) �oath� iroa ths date oi the aste, rrith int•re�t on •aid priaoipal eu� st a rste not to eaveed •eoea psrcent (?�i) per �anaut� ead to pled�� tbe •hare ot said City in �hs stor��81d uaoolleoted portion oi •aid real sstate end par�onsl propsrty tsz ls�ie• !or ttie ourrsnt oalandar year; and be it FOSTH,BB RS84LYED, tha�t in the e�r�ant oi snoh borrow- int h�reund�r, the �rn� borroxsd, Sf.z Million Dollar� (�6,000,000.00) �hall be depo�itad ia ths City Trsa�nrq to supply �aid oasb d.iioieaoy thereia is respsot oi th� tnnd� a�ailabls tor the rsetin6 oi said City�s obli�atioa� duyrias the ourrent valendar y�ear, �noh oa�h delloienoy being, a� a�oresaid, in the prinoipsi a�ount oi Siz M1311on Dollar� (�6,000*000.00) aad thst, to t�e szt�at oi aay �uom borroMin� Darsunder, on behali oi said C1ty, !qr seid pnrpose� �aid City'• �hare oi �u� wnoolleotad rsal •�tate and per�oasl property tsz leriee ior the onrrent year shall be he reby COUNCILMEN Adopted by the Connci� 19— Yeas Naya Butler Carlaon Approv� 19_ Levine Tn Favor Meredith MaYor Sprafka ro�inst Tedesco Mr. President, AZcCarty �� o�.�,w�,�,�� 253��'7� , CITY OF ST. PAUL �� NO ' OFFICE OF THE CITY CLERK ' COUNCIL RESOLUTION—GENERAL FORM PRBENTED tY COMMISSION�R �A*4 Pa6e St. dee�sd pledssd to �eoure �he repay�aent oi the sn� of suau borroMad a� evidanmtd by said Ctty's sote or notos� both prinoipsl and iat•�e�t, �ioh shal� b� �seauted and deliver�d hereunder, •�id City•• s�are oi suvh nnoolleoted taz levis• !or the Qurr�nt year represantin� an ae�ount in ezoe�• oi Si�c Million Dvllars (�6,000�000.0�) pla� interest therson at a rate not to e:osed rsvsn peroeat (7�) per aann� Mhioli ■i�ht aoorue oa any �uob antbortzea notes. MAR 1 ? 1� COUNCILMEN Adopted by the Council 19— Yeas Naye r �R �. 7 �9T.1 Butler . Carlson ApproveK] 18_ e ~ � Favor Sprafka . Mayor �Againat Tedeaco . ��;y�� ;��,. , ��