03-771Council File # �'��'�
Green Sheet # 3oa�a3t
RESOLUTION
OF SAINT PAUL, MINNESOTA
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Presented By
l�
Referred To Committee: Date
WxE�ns, in connection with the issuance of the Port Authorit}�s Hotel Facility Bonds, Series 1995, the Port Authority, the City,
and the HRA entered into the Town Square Moral Obligation Agreement, and
WxERFas, the Town Square Moral Obligation Agreement required the City to use certain funds to build and maintain the Town
Square Moral Obligation Account, and
WxE�ns, the Port Authority has issued its Hotel Faciliry Refunding Bonds, Series 2003-7 and contemporaneously the City, HRA
and Port Authority have executed an Amended and Restated Radisson City Center Moral Obligarion Agreement, and
Wxa�AS, the Amended and Restated Radisson City Center Moral Obligation Agreemern requires that the City remit $1, ll4,199 to
the I3RA for use at the direcfion of the HRA Board for proper[y tas relief or economic development, retain $472,885 to fund the
new Radisson City Center Moral Obligation Account, and retain $226,500 of any appropriate use, one of wluch is to pay $1,500 to
the Port Authority for rebate compliance, and
WxExFas, the Mayor, pursuant to Secrion 10.07.1 of the Charter of the City of Saint Paul, does hereby certify that there are
available for appropriarions $1,115,699 in funds in excess of those estunated in the 2003 budget; and in accordance with Secrion
10.07.1 of the City Charter, recommends the following changes to the 2003 budget:
Ctusent Amended
Budeet Chan¢es Bud et
FINANCING PLAN
PIR 960-89964-9890 Gen. D/S Fund - fund balance
Total Financing
Y �� 1�►1 �] 1► [e f 7 7/: f�
PIR 960-89964-0566 Gen. D/S Fund.- transferto enterprisefund
PIR 960-89964-0545 Gen. D!S Fund - contribution to outside agency
Total Spending
0 1,115,699
0 1.115,699
0 1,114,199
0 1 500
0 1,115.699
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29 NOW, THEREFORE, BE IT RESOLVED, that the City Council approves these changes to the 2003 budget.
Requested by Department of:
1,115,699
1.115,699
1,114,199
1 500
1,115,699
Office of Financial S ( e � rvices
By: �' e9�-� �r�X-*til
Adoption Certified by Council Secretary
By:
Approved
Date � �!
Approved b Fi ncial S ices
By: ,
�
Form Approved by City Attorney
BY-
Mayor for Submission
� .� �
� / l' �� f f � �� �/l�� �/ ti � �
Adopted by Council: Date yu/iSL ',7 �7003
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Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet
� DepartmenUOfficelcouncil: Date Initiated:
� F -F;��;��,�;�� 14AUG-03 � Green Sheet NO: 3004231
� Contad Person & Phone: � � Deoartrnerrt Selrt To Person InkiallDate
� Todd HUdey I � , 0 �Financial Services � I
� 266-8837 I puign ! 1 ��: inancialServices , DeoartmentDirector - i
� MuSt Be on Council qgenda by (Date): I Number ( 2 . �oancial Services I Office Fioaucial Servi ' I
j � F �� � 3 Ciri Attornev � I
Routing
Order 4 a oPS Otiice Ma or/Assistant I
5 , ouncil Citv Council
I 6 iCitv Clerk Citv Clerk
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Total # of Signature Pages _(Clip AII Locations for Signature)
Action Requested:
Amend the 2003 budget to provide budget authority to transfer funds to the HI2A and Port Authority as required by the Amended
and Restated Radisson City Center Moral Obligation Agreement.
Recommendations: Approve (A) or Reject (R): Personal Service Contracts Must Answer the Following Questions:
Planning Commission 1. Has this person/firm ever worked under a contract for this department?
CIB Committee Yes No
Civil Service Commission 2. Has this person/firm ever been a ciry employee?
Yes No
3. Does this person/firm possess a skiil not normally possessed by any
current ciry employee?
Yes No
Explain all yes answers on separete sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
The Amended and Restated Radisson City Center Moral Obligation Agreement requires that funds be transfered to the HRA and Port
Authority.
AdvantaStes If Approved:
The City will be in compliance with the Agreement.
DisadvantaqeslfApproved:
The City will not be in compliance with the Ageement.
v�-��
� C�:^�'\L�%Y.eti /'9�
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Disadvantapes If Not Approved: �•_ � � � ��" �
None.
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Total Amount of ,
Trensaction: 1115699 CosURevenue Budgeted:
PundinaSource: pIR-960- ActiviriNUmber: ggg64
Financial Information:
(Explain)