249940 OR161NAL TO CITY CLBRK . • ����a �' i
CITY OF ST. PAUL couNCi� �� � ���
OFFICE OF THE CITY CLERK FILE NO.
� COUNCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONE ATF
RESOLVEDs B the Council of the City of Saint Paul ,
that the Counc il o the City of Saint Paul hereby estimates
that, as such terms are defined in Minnesota Statutes �g6g,
Section 462. 545, the "Public Redevelopment Cost" of the �
Downtown Urban Renewal Project Minn. R-20 is �29 , 097,840',
the "Capital Proceeds" of such project is �5, 5i6,s64, and
the "Net Pro ject Cos t" of such pro ject is �23,580,976; that
the "Public Redevelopment Cost" of the Concord Terrace Project
Minn. R-37 is �10, 153,70g, the "Capital Proceeds" of such
project is �1,2$5,863, the "Net Project Cost" is �8�867,846,
and the Remainin.g Cost of Municipal Buildings and Improvements
to be constructed within or adjacent to the area of said project
is �261, 306� that with respect to the early land acquisition and
park improvements of the Summit-University Project Minn. R-\47
�now NDP - Min.n. A-1) , the "Public Redevelopment Cost" is
20,019,906, the "Capital Proceeds" of such project is
�3,276,326, and the "Net Project Cost" of such project is
16,743, 580, and the Remaining Cost of Municipal Buiidings
and Improvements to be constructed within or adjacent to the
area of said project is �5,581, 193; be it�
' FURTHER RESOLVED, That pursuant to the provisions of
Chapter 881, Laws of Minnesota for i963, as amended by Chapter
4gg, Laws of Minnesota for 1967, Regular Session, there shall
be issued and sold general obligation bonds of the City in
� the par value amount of Three Million Dollars (�3, 000,000)
U for the purpose of procuring additional funds necessary to
fl pay not to exceed one-third (1�3) of the Net Project Cost of
��' o each of the aforesaid projects and the Remaining Costs of
� �; Municipal Buildings and Improvements to be constructed within
� a or adjacent to the project areas� to be denominated "City af
Q � Saint Paul Urban Renewal Bonds , Series 19�OF; " that of the
proceeds from the sale of such bonds , there shall be allocated
� to the Downtown Urban Renewal Project �945,000, �312,000 shall
`t be allocated to the Concord Terrace Proj�ct, and �1,743,000
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Butler
Carlson Approved 19r
Levine Tn Favor
Meredith
Sprafka Mayor
A gainst
Tedesco
Mr. President, McCarty �
O
�
� ���� ��
Page 2.
shall be allocated to early land acquisition and park improve-
ments of the Summit-University Project (now NDP Minn. A-1) ;
be it
FURTHER RESOLVED, That such bonds , authorized by said
Chapter 881, Session Laws of Minnesota for 1g63, as amended
by Chapter 4g9, Laws of Minnesota for 1967 , Regular Session,
hereby provided and directed to be issued and sold, in the par
value amount of Three Million Dollars (�3, 000, 000) shall be
issued and sold in the manner required by law; that the bonds
of said issue shall be in the denomination of �5, 000, dated
August 1, 19'70, and bear interest at a rate not in excess of
seven percent (7d/o) per annum, payable semi-annually on February
1 and August 1, according to interest coupons to be attached to
said bonds ; that said bonds shall be serial in form, and a por-
tion thereof shall be payable each year commencing August 1,
19'73, but none of said bonds shall run for a longer period
than thirty (30) years ; be it
FURTHER RESOLVED, That said Three Million Dollars
(�3,000,000) par value bonds to be issued and sold for such ;: ��;i °'''
Urban Renewal Development Project purposes and to be denomi�.- -
ated, as aforesaid, "City of Saint Paul Urban Renewal Bonds ,�
Series 1970F, " shall mature serially commencing August 1,
1973, over said thirty-year period on the following da,tes
and in the following amounts :
Date of Maturity Amount
August 1, 1973 � 90,000.00
August 1, 1974 90,000.00
August 1, 1975 100, 000. 00
August 1, i976 100,000.00
August 1, 19'77 100,000. 00
August 1, 19'78 100,000.00
August 1, 197g 105,000.00
August 1, 1980 105,000.00
August 1, 1981 105,000.00
August 1, 1982 105 ,000. 00
August 1, 1983 105,000.00
August 1, 1984 105 ,000.00
August 1, 1985 110,000. 00
August 1, 1986 110,000.00
August 1, 1987 110,000. 00
August 1, 1988 110,000.00
. � , � ���� ��
Page 3.
August 1, �989 110, 000. 00
August 1, iggo 110,000. 00
August 1, 1991 110, 000. 00
August 1, 1gg2 110, 000. 00
August 1, i993 iio, 000. 00
August 1 , 1994 11p, 000. 00
August 1, �.995 �15, 000.00
August �, 1996 115, 000.00
August 1, �997 115, 000. 00
August 1, 1gg8 i15, 000.00
August 1, 1999 115, 000.00
August 1, 2000 115 ,000.00
TOTAL �3, 000, 000.00
be it
FURTHER RESOLVED, That the bonds maturing on and after
August 1 , 1981, shall be subject to redemption by the City of
Saint Paul , in whole or in part, in the inverse order of their
maturities , on August 1, 1g80, or on any interest payment date
thereafter, at the principal amount thereof, plus interest ac-
crued thereon to the date of redemption, together with a premium
expressed in a percentage of the principal amount of bonds re-
deemed as shown below:
Period Redemption
Premium
On August 1, 1980, to and
including February 1, 1986 2-1/2�
On August 1, 1986, to and
including February 1, �.991 2�fo�
On August 1, 19g1, to and
including February 1, 1996 1-%2�0
Thereafter 1 fo
be it
" FURTHER RESOLVED, That if less than all the bonds of a
maturity are called for redemption, the bonds so called shall
� be selected by lot . Notice of redemption shall be given by
publication of a notice of redemption once in a daily newspaper
nf general circulation or in a daily financial pape�, published
in New York, New York, and printed in the English language, and
once in a daily or weekly periodical published in a Minnesot a
city of the first class , or its metropolitan area, and printed
in the English language, which circulates throughout the State
and furnishes financial news as a part of its service, such
- . 2���� ��
Page 4.
notice to be published not less than thirty nor more than
forty-five days prior to the date fixed for redemption; be it
FURTHER RESOLVED, That said �3, 000,000 par value bonds
to be issued for such Urban Renewal Development Project purposes
shall be in substantially the following form, which has been
prepared by the Sinking Fund Committee and approved by the
Corporation Counsel of the City of Saint Paul, and is hereby
approved and adopted:
"UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF R�MSEY
CITY OF SAINT PAUL
URBAN RENEWAL BOND
SE&IES 19'70F
�
No . . . . . . . . . . . . . . . . . . . . . �5 ,000.00
"KNOW ALL MEN BY THESE PRESENTS,, That the City of Saint
Paul , in the County of Ramsey and State of Minnesota, ,aak-
nowledges itself to owe and for value received hereby
promises to pay to Bearer the sum of Five Thousand Dollars
(�5, 000.00) on the first day of August , 19. . . , together
with interest thereon from the date hereof until� paid at
the rate of . . . . . . . . . . . . per centum per annum, paya�le
semi-annually on the first days of February and August
in each year as evidenced by and upon the presentation
and surrender of the annexed interest coupons as they :
severally become due . Both principal of and interest on
this bond are payable in lawful money of the United States
of America at the office of the Fiscal Agent of the City of
Saint Paul, in either Saint Paul , Minnesota, or New York,
New York, at the option of the holder; and for the prompt
payment of this bond, both principal and interest, when
due , the full faith and credit of the City of Saint Paul
are irrevocably pledged.
"The bonds of the series of bonds of which this bond
is one maturing on and after August 1, 1981, a�e subject
to redemption by the City of Saint Paul, in whole or in
part, in the inverse order of their maturities , on August
1, 1980, or on any interest payment date thereafter, at
the principal amount thereof, plus interest accrued thereon
to the date of redemption, together with a premium expressed
in a percentage of the principal amount of bonds redeemed
as shown below:
� ���� �0
Page 5 .
Redemption
Period Premium
On August 1, 1980, to and
including Februa ry 1, 1986 2-%2%
On August 1, 1g86, to and
inc.luding February 1, 1gg1 2�fo
On August 1, 1991, to and
including February 1, 1996 1-%2�0-
Thereafter 1°fo
If less than all the bonds of a maturity are called for
redemption, the bonds so called shall be selected by lot.
Notice of redemption shall be given by publication of a
notice of redemption once in a daily newspaper of general
cireulation or in a daily financial paper, published in
New York, New York , and printed in the English language ,
and once in a daily or weekly periodical published in a
Minnesota city of the first class , or its metropolitan
area, and printed in the English language , which circulates
throughout the State and furnishes financial news as a
part of its service, such notice to be published not less
than thirty nor more than forty-five days prior to the
date f ixed for redempt ion, and if such not ice shall have
been given and payment hereof duly made or provided for,
� interest hereon shall cease from and after the date so
fixed for redemption.
"This bond is one of a series of bonds issued and
sold by said City of Saint Paul , in the aggregate par
value amount of �3, 000, 000, authorized by Chapter 881,
Session Laws of Minnesota for 1963, as amended by Chap�er
4gg, Laws of Minnesota for ig67, Regular Session, and a
duly adopted resolution of the Council of the City of
Saint Paul , for the purpose of procuring the neces�ary
funds to pay not to exceed one-third of the net project
cost of certain Urban Renewal Development Projects , within
the corporate limits of said City, designated, "Downtown
Urban Renewal Project Minn. R-20, " "Concord Terrace Project
Minn. R-37 , " and "Summit-University Project Minn. R-4'7"
(now NDP - Minn. A-1) , being three of the several Urban
Renewal Development Projects mentioned in said Chapter 881,
Session Laws of Minnesota for 1g63, as amended by Chapter
499, Laws of Minnesota for sg67 , Regular Session, and
for said City' s expenditures on account of any Remaining
Costs of Municipal Buildings and Improvements to be
constructed within or adjacent to the area of said
Projects .
. ����� '��
Page 6.
"This bond is issued and sold by said City of Saint
Paul under and by authority of Chapter 881, Session Laws
of Minnesota for 1963, as amended by Chapter 4g9, Laws
of Minnesota for 1967 , Regular Session, under and by
authority of a duly adopted resolution of the Council of
the City of Saint Paul , and in full compliance with said
Chapter 881, �,s amended, said resolution, the Cha rter of
the City of Saint Paul , as applicable , and Chapter 47�,
Minnesota Statutes 1g69.
"This bond may be exchanged for a fully registered
bond at the office of the City Comptroller, 109 City Hall ,
Saint Paul , Minnesota 55102, at the expense of the holder.
"It is hereby certified and recited that all things ,
acts and conditions required by the Constitution and Laws
of the State of Minnesota and the Charter of said City to
happen and be done and performed precedent to and in the
issuance of this bond , have happened and been done and
performed in regular and due form and time as required
by law and that the total indebtedness of said City,
including this bond, does not exceed any constitutionaT ,
statutory, or charter limitation.
"IN WITNESS WHEREOF, The said City of Saint Paul ,
by its Council , has caused this bond to be sealed by
the, facsimile of its Official Seal , lithographed hereon,
to be signed by the lithographed facsimile signature of
its Mayor, attested by the lithographed facsimile sig-
nature of its City Clerk , and countersigned manuallN
by its Comptroller, and each of the interest coupons
hereto attached to be executed by the lithograph�d
facsimile signatures of said officers , as of the first
day of August , 19'70.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest : . . . . . . . . . . . . . . . . . . . . . . . . . .
City Clerk
Countersigned: . . . . . . . . . . . . . . . . . .
City�Comptroller
"COUPON
No . . . . . . . . . . . . . . . . . . . �. . . . . . . . . . . . . . . . . .
"On the first day of February� 19. , . � (unless the
August
Bond hereinafter mentioned shall be subject to prior redemp-
tion and shall have theretofore been duly called for
previous redemption and payment of the redemption price
. . � 2���� ��
Page 7 .
duly made or provided for) , the City of Saint Paul,
Minnesota promises to pay to bearer . . . . . . . . . . . . . . . . . . . . .
Dollars (�. . . . . . . . . ) at the office of the Fiscal Agent of
the City of Saint Paul , in either Saint Paul , Minnesota,
or New York, New York, at the option of the holder, for
interest due that day on its Urban Renewal Bond, Series
1970F, dated as of August 1, 1970, No . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest : . . . . . . . . . . . . . . . . . . . . . . .
City Clerk
Countersigned: . . . . . . . . . . . . . . . . . . . . .
City Comptroller '�
N.--
� `�•and be it
FURTHE R RESOLVED, That each said bond shall be sealed
by the facsimile of the Official Seal of the City of Saint
Paul lithographed thereon and signed by the lithographed fac-
simile signature of the Mayor, attested by the lithographed
facsimile signature of the City Clerk, and countersigned
manually by the City Comptroller, in accordance with Sectian
475. 55, Minnesota Statutes 1g69, and the interest coupons
thereto attached shall be executed by the lithographed fac-
simile signatures of said officers ; and be i't
FURTHER RESOLVED, That sealed proposals be received in
the office of the City Comptroller in the City Hall and Court
House Building, in the City of Saint Paul , Minnesota, up to
10:00 o ' clock A.M. (C.D.T. ) , August 19, 1970, for the sale of
all or none of said bonds, after giving due notice of said
sale in the manner prescribed by law, in the St. Paul Legal
Ledger, the official newspaper of said City, and in the Commercial
West, a financial periodical published in the State of Minnesota;
that each bidder shall be required to accompany his bid by a
certified or cashier' s check for two percent (2�0)` of the amoun.t
of bonds bid for, which �ill be forfeited to ��ie City as liqui-
dated damages if the bonds are not taken and paid for when
ready for delivery; that the City Comptroller shall , at the
next meeting after receiving said bids, present the same to
the Council for their action thereon; and that said bonds
shall be awarded to the person offering the lowest net
interest cost therefor to the City, not exceeding seven
percent (7�0) per annum; and be it
FURTHER RESOLVED, That the proceeds from the issuance
and sale of said bonds , as received by said City, shall be
ORI6INAL TO CITY CLQRK . ��g�:��
CITY OF ST. PAUL FIOENCIL NO.
,, , • OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
PRE3ENTED BY
COMMISSIONER �ATF
Page 8.
deposited in a special fund of said City designated as "Urban
Renewal and Development Fund, " and therein allocated to and
subject to disbursement for the City 's obligation pertinent
to said Downtown Urban Renewal Project, Minn. R-20, Concord
Terrace Project, Minn. R-37, and Summit-University Project,
Minn. R-47 (now NDP - Minn. A-1) , for the payment of substan-
tially one-third of the net cost of said Concord Terrace
Project, Minn. R-37�, one-third of the net cost of said
Summit-University Project, Minn. R-47 (now NDP - Minn. A-1) ,
and substantially one-fourth of the net cost of said Downtown
• Urban Renewal Project, Minn. R-20, as estimated, as aforesaid,
and for the further payment of any Remaining Cost of Municipal
Buildings and Improvements to be constructed within or adjacent
to the area of each of said projects . That despite the allo-
cation of bond proceeds made in this Resolution, the same shall
be subject to re-allocation in purpose and amount consistent
with Chapter 881, Session Laws of Minnesota for 1g63, as amended
by Chapter 499, Laws of Minnesota for 1967, Regular Session;
provided, that no part of the proceeds of the issuance and
sale of any of �aid bonds shall be made the subject of any
reallocation or disbursement except for the purpose of the
payment or defrayment of said City' s obligations assumed,
under and by authority of said Act, in respect of one or
more of the several Urban Renewal Development Projects
specified therein. That said bonds shall be payable in lawful
money of the United States of America at the office of the
Fiscal .Agent of said City in either Saint Paul , Minnesota,
or New York, New York, at the option of the holder, and the
full faith and credit of said City hereby are irrevocably
pledged for the prompt and faithful payment of both principal
and interest of said bonds .
COUNCILMEN Adopted by the Counci� A� 4 19701s_
Yeas Naya
Butler e 4 19TQ
Carlson rod��G 19�
Levine �n Favor
Meredith
Sprafka � yor
�� A gainst
Mr. President, McCarty
PUBLISHED AU G 619�0
�o
o�.,�,Tt,��.� - 249�40
� � CITI( OF ST. PAUL �rNCa NO �
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GFNERAL FORM
PRFSENTED!T
COMMISSIONER ^AT�
RE80LVBD� By the Conaoil oi the City ot Saiat Paul,
thst the Cou�oil oi the City o� Saint Paul h�sreby e�tlaats•
� that, as �noh termr sre detinad in Minassota 5ttstn�.• 1969r
Ssotion �68.5�5, the "Pnblio Bsde�olop�ent Cost" of the
Do�ratorm IIrban BeneNal Fro�eot Minn. 8 20 1• �89*o97,g�o.
ths "Capital Prooeeds" o! suoh pro�evt 3.s 5,5i6,86�, and
ths "N�t Pro�eot Cost" oi �uoh pro�eot is ��3:1►80,97b� tlut
the "Publio Rede�elop'snt Co�t* oi tho Conoord Terraoe Pro�eot
l�tinn. &-37 is �i0,1S3,709, the "Capitsl Proo•eds" oi ruoh
pro�eot is �i,28�,863, the "l�ot pro�eot t3o�t" ie �,867,84b,
and ths Benainin�; Cort of Munioipal Huildings an�i I�pro�eaents
to be oon�truoted �ithis or ad�aoent to th� srs� o! ssid pro�eot
is �S6i,3�� , that �rith rssp•ot ta th. early land aoquisitiun and
ark i�pro�ements ot the Sndit-Qa3voroitq Pro�eot Minn. �47
noM NDP - Mi.an. A-i), the "Pnblio Bedevslap�snt Co��" -�• �
Q0,019,906, the "Capit�►1 Proveed�" oi ouoh pro�eot i�r °�°
3 276,326, and the "Ne�b Pro�eot Co�t" oi aioh pro�eot ts
i�,743,580, and tbe �e�ainia� Cost o! Manioipal Building�
and Lprv�s�unt• to be oon�trneted xithin or ad�ao�nt to the
srea ot •aid pro�eot is �S,S83,193; b� it
1rLTB'l�B BE�OLYED, That pnr�usat �o the pro�i�io�r c+i
Chapter 88i, LaNs o! Minas�ota tor l963, ar vsaded by ahapter
499 I.oM� oi Minn��ota ior iq67, ��nlar S��sioi, Lherr shail
be �.s�ned and sold 6eaaral obli�stion bond� o! �he Cfty !n
the p�r �al�e aa�ount oi Tbree Million Dollars (�3,000,000)
tor fi�� pt�rpoae oi prnonrizt� sdditional funds n�ooa�ary to
pay aot to ezossd one-�hird (i/3) of tbe �ot Fro��vt Cost oi
esob o! l�he al+��e�aid pro�eots aad tb� ��u►iniar; �o�t• oi
Manioipsl Bttildinse and I,pro�e�ents to b� comtraoted �ri.thia
or ad�aosnt to the pro�sot areas� to b. d�no�iaated "City oi
9siat Paul IIrban BeserMal Honds, 8sri�� i9701�=" that oi t�•
proo�ed� l�ro■ the �als oi •uoh bondr, there �hall b� allooated
tu the Dornto�a Urban R�neMa1 Pra►�eot �9�5,000, �315�000 �hall
bs allooated to tbe Conoord Terrao• Pro�eo�, sad �il7#3�r000
COUNCIL�EN Adopted by the Council 19.�
Yeas Naya
Butler
Carlson Approve� 19�
Levine Tn Favor
Meredith
Sprafka ��
ro�inat
Tedesco
Mr. President, McCarty
��
� � ;�4�� ��a
. Page 2.
shall be allocated to early land acquisition and park improve-
ments of the Summit-University' .Project (now NDP Minn. A-1) ;
be it �' _
FURTHER RESOLVED, That such bonds , authorized by said
Chapter 88�, Session Laws of Minnesota �or 1g63, as amended
by Chapter 499, Laws of Minnesota for i967 , Regular Session,
hereby provided and directed to be issued and sold, in the par
value amount of Three Million Dollars (�3, 000, 000) shall be
issued and sold in the manner required by law; that the bonds
of said issue shall be in the deizomination of �5 , 000, dated
August 1, 1970, and bear interest at a rate not in excess of
seven percent (7�0) per annum, payable semi-annually on February
1 and August 1 , according to interest coupons to be ai;tached to
said bonds ; that said bonds shall be serial in form, and a por-
tion thereof shall be payable each year commencing August 1,
. i973, but none of said bonds shall run for a longer period
than thirty (30) years ; be it '
FURTHE R RESOLVED, That ' said Three Million Dollars
(�3,000, 000) par value bonds to be issued and sold for such
Urban Renewal Development Project purposes and to be denomin-
ated, as aforesaid, "City of Saint Paul Urban Renew�.l Bonds ,
Series 1970F, " shall mature serially commencing August 1,
1973, over said thirty-year period on the following dates
and in the following amounts :
Date of Maturity Amount
August 1, �973 � 90, 000. 00
August 1, 1g'74 90, 000. 00
August 1 , 19�5 100, 000. 00
Augus �t 1 , 1976 100,000. 00
August 1 , 1977 � 100,000. 00
August 1, 1978 100, 000. 00
August 1, 1979 105 , 000. 00
August 1, 1�80 105, 000. 00 '
August 1 , 1981 105 , 000. 00
August 1, 1982 105 ,000. 00
August 1 , 1983 105 , 000. 00
August 1 , 1984 105 , 000. 00
August 1, 1g8� 110, 000. 00
August 1, 1986 � 110, 000. 00
August 1, 1987 110, 000. 00
Augus�; 1, 1988 11U, 000. 00
, . . ;���►� �� �
Page 3.
August 1, ig89 110, 000. 00
August 1 , 1990 110, 000. 00
August 1 , iggl 110, 000. 00
August 1; 1gg2 110, 000. 00
August 1, 1993 110, 000. 00
August 1 , 1994 110, 000. 00
August 1, �995 � 115, 000. 00
August 1 , 1996 115, 000. 00
August 1, �gg'7 115, 000. 00
August 1, 1998 115, 000. 00
August �, �.999 115, 000. 00
August 1, 2000 115 , 000. 00
TOTAL �3, 000, 000. 00
be it
FURTHER RESOLV�D, That the bonds maturing on and after
August 1, 1981, shall be subject to redemption by the City of
Saint Paul , in whole or in part, in the inverse order of their
maturities , on August 1 , 1980, or on any interest payment date
• thereafter, at the principal amount thereof, plus interest ac-
crued thereon to the date of redemption, together with a premium
expressed in a percentage of the principal amount of bonds re-
deemed as sho�an below:
Period Redemption
Premium
On August 1, 1980, to and
including February 1 , ig86 2-%2�
On August 1, 1g86 , to and
including February 1s 1991 2�
On August 1 , 1991, to and
including February 1 , 1996 1-1/2�0
Thereafter 1�0
be it
FURTHER RESOLVED, Th�. if less than all the bonds of a ..
maturity are .called for redemption, the bonds so called shall
be selected by lot . Notice of redemption shall be given by
publication of a notice of redemption oiice in a daily newspaper
of general circulati_on or in a daily financial paper, published
in N�ew York, New York , and printed in the English language, and
once in a daily or weekly periodical publzshed in a Minnesota .
city of the first class , or ii;s metropoli�i,an area, and printed
in �he English language, whicli circulates throughout the State
and furnishes fi_nancial news as a part of its service, such
� �G+��J� ��
Page 4. •
- 1
notice to be published not less than thirty nor more than
forty-five days prior to the date fixed for redemption; be it
FURTHER RESOLVED, That said �3, 000, 000 par value bonds
to be issued for such Urban Renewal Development Project purposes
shall be in substantially the following form, which has been
prepared by the Si_nking Fund Committee and approved by the
Corporation Counsel of the City of Saint Paul , and is hereby
approved and a,dopted: .
"UNITED STATFS OF AMERICA
STATE OF MINNESOTA
COUNTY OI�' RA'MSEY
CITY OF SAINT PAUL
URBAN RENEWAL BOND
SERIES 1970F
�
� No . . . . . . . . . . . . . . . . . . . . . �5 , 000. 00
"KNOW ALL MEN BY THESE PRESENTS, That the City of Saint
Paul , in the County of RamseST and State of Minnesota,, a,ck-
nowledges itself to owe and for value ieceived hereby
promises to pay to Bearer the sum of Five Thousand Dollars
(�5, 000. 00) on the first da3� of August , 19. . . , together
with interest tYiereon from the date hereof until paid at
the rate of . . . . . . . . . . . . per centum per annum, payable :
semi-annually on the first days of FeUruary and August `
in each year as evidenced by a.nd upon the presentation
and surrender oi the annexed interest coupons as they
severally become due . Both principal of and interest on
this bond are payable in lawful money of the United States
of Ameriea at the office of the Fiscal Agent of the City of
Saint Paul , in either Saint Paul , Minnesota, or New York ,
Neia York, at the option. of the holder; and for the promp�;
payment of this bond, both principal and interest, when
due , the full faith and credit of the City of Saint Paul
are irrevocably pledged.
"The bonds of the series of bonds of which this bond
is one maturing on and after August 1, 1981, are subject
to redemption by the City of Saint Yaul , in whole or in
part, in the inverse order of their maturities , on August
1, 1980, or on any interesl� payment da�Le thereafter, at
the principal amount thereof, plus interes�t accrued thereon
� to the date of redemption, toge�l;her wi.th a premium ekpressed
in a percen�,age of the principal amouizt of bonds redeemed �
as shown uelow:
" � ��5�� ��
� Pa;ge 5.
I
I�, Redemption
Period i Premium
On August 1, 1980, to and
including February 1, 1986 2-%2�/0
On August 1, 1986 , to and
inc.luding February 1 , 199i 2%
On August 1, i991 , to and
including February 1, 1996 1-%2�0
Thereafter 1�fo
If less than all the bonds of a maturity are called for
redemption, the bonds so called shall be selected by lot .
Notice of redemption shall be given by publication of a
. nptice of redemption once in a daily newspaper of general
circulation or in a daily financial paper, published in
New York, New York , and printed in the English languages
and once in a daily or weekly periodical published in a
Minnesota city of the first class , or its metropolitan
area, and printed in the English language , which circulates
throughout the State and furnishes financial news as a
part of its service, such notice to be published not less
than thirty nor more than forty-five days prior to the
date fixed for redemption, and if such notice shall have
been given and payment hereof duly made or provided for ,
interest hereon shall cease from and after the date so
fixed for redemption.
"This bond is one of a series of bonds issued and
sold by said City of Saint Paul , in the aggregate par
value amount of �3, 000, 000, authorized by Chapter 881,
Session Laws of Minnesota for 1g63, as amended by Chapter
499, Laws of Minnesota �or i967, Regular Session, and a
duly adopted resolution of the Council of the City of ,
Saint Paul , for the purpose of procuring the neeessary
funds to pay not to exceed one-third of the net project -
cost of certain Urban Renewal Development Projects , within
the corporate limits of said City, desig�lated, "Do�vntown
Urban Renewal Project Minn. R-20, " "Coizcord Terrace Project
Minn. R-37 , " and "Summit-University Project Minn. R-47"
(now NDP - Minn. A-1) , being three of tYie several Urban
Renewal Development Projects mentioned in said Chapter 881,
Session Laws of i�Iinnesota for 1963, as amended by Chapter
499, Laws of Minnesota for 1967 , Regul.ar Session, and
for said City' s expenditures on account of any Remaini.ng
Costs of Miinicipal Build in�s aild Improvements to be
constructed within or adjacent to t�le area o:f said
Projects .
. . ;���5� =��
' Page 6,
"This bond is issued and sold by said City of Saint
Paul under and by authority of Chapter 881 , Session Laws
of Minnesota for �.963, as amended by Chapter 499, Laws
of Minnesota for i967 , Regular Session, under and by
authority of a duly adopted resolution of the Council of
the City of Saint Paul , and in full compliance with said
Chapter 881 , as amended, said resolution, the Cha rter' of
the City of Saint Paul , as applicable , and Chapter 475,
Minnesota Statutes 196g .
"This bond may be exchanged for a fully registered
bond at the office of the City Comptroller, 10g City Hall ,
Saint Paul , Minnesota 55102 , at the expense of the holder .
"It is hereby certified and recited that all things ,
acts and conditions required by the Constitution and Laws
of the State of Minnesota and the Charter of said City to
happen and be done and performed precedent to and in the
� issuance of this bond , have happened and been done and
performed in regular and due form an d time as required
by law and that the total indebtedness of said Ci�i;y,
including this bond, does not exceed any constitutional ,
statutory, or charter. limitation. �
"IN WITNESS WHEREOF, The said City of Saint Paul ,
by its Council , has caused this bond to be sealed by
the facsimile of its Official Seal , lithographed hereon,
to be signed by the lithographed facsimile signature of
its Mayor, attested by the lithographed facsimile sig—
nature of its City Clerk , and countersigned manually
by its Comptroller, and each of the interesl; coupons
hereto attached to be executed by t11e lithographed
facsimile signatures of said officers , as of the first
day of August , 19'70.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest: . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
City Clerk �
Countersigned: . . . . . . . . . . . . . . . . . . . . .
City Comptroller
"COUPON
�No . . . . . . . . . . . . . . . . . . �. . . . . . . . . . o . . . . . . .
"On the first day of February� 19. e . , (unless the
August
Bond hereinafter mentioned shall be subject 1;o prior redemp—
tion and shall tiave there�;ofore been duly called for
previous redeitiption and payment of the redemption price
. , . . . ���� ��
Page 7 .
;
duly made or provided for) , tYie City of Saint Paul ,
Minnesota promises to pay to bearer , , , , , , , , , , , , , , ,
Dollars (�$. . . . . , . . . ) at the office of the Fiscal Agent � of�
the City of Saint Paul , in either Saint Paul , Minnesota,
or New York, New York , at the option of the holder, for
interest due that day on its Urban Renewal Bond, Series
1970F, dated as of August 1, 1970, No . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
•Mayor
Attest : . . . . . . . . . . . . . . . . . . . . . . . .
City Clerk .
Countersigned: . . . . . . . . . . . . . . . . . . . . . . .
City Comptroller ��
' and be it
; FURTHE R RESOLVED, That each said bond shall be sealed
� by the facsimile ot the Official Seal of the City of Saint
� Paul lithographed thereon and signed by the lithographed fac-
simile signature of the Mayor, attested by the lithographed
facsimile signature o� the City Clerk, and countersibned
manually by the City Comptroller , in aceordance with Section
475. 55 , Minnesota S�atutes 196g, and the interest coupons
thereto attached shall be executed by the lithographed fac-
simile signa�;uies of said officers ; and be it
FURTHER RESOLVED, That sealed proposals be received in
the office of the City Comptroller in the City Hall and Court
House Building, in the City of Saint Paul , Minnesota, up to
10;00 o ' clock A.M. (C.D.T. ) , August 19, 1g'70, for the sale of
all or none of said bonds, after giving due notice of said
sale in the manner prescribed by law, in the St. Paul Lega,l
Ledger, the official newspaper of said Ci�;y, and in �Lhe Commercial
West, a financial periodical published in the Sta�e of Minneso�;a;
that each bidder shall be required to accompany his bid by a
certified or cashier ' s check for t�ao percent (2�) of the amount
of bonds bid for, which �riil be forfei�Led to the City as liqui-
dated damages if the b.onds are not taken and paid for when
ready for delivery; tha,t the City Comp�roller shall , at the
next meeting after receiving said bids , present the same to
the Council for their action thereon; and that said bonds
shall be awarded to the person offering the lowest net
interest cost therefor to the City, not exceeding seven
percent (7�0) per annum; and be it
I�'URTI�EFt RESOLVF.11, That the proceeds from the issuarice
and sale of said bonds , as received by said Ci�;y, shall be
� ` �49��0
� DU}LIGTi TO PRlN7�R .
� , " ' CITY OF ST. PAUL �uNCa NO
OpFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED E1f
COMMISSIONE� DATE
Pa�s 8. `
deposited in a �peoial lund ot •aid City de�isaatsd aa "IIrbsa
Benswal snd Dovslopoeat Fnad, " and therein alloasted �o a�►d
�ub�eot to di�bur�e�ent ior the City�s arbltgatian pertinss�
to �aid Doxnto�+n IIsbaa HeneMal Pro�OOt, Mina. 8-�0� Conoord
Terraoe Pro eot� Minn, �37, and Swuait-Univsr�ity P1ro��ot�
I�'linn. �-�? �nor NDp - Minn, A,i), ior th• pa4*sent o! sub�tat�
tially one-third oi the net oo�t oi �sid Coaoord Terraaa
Pro3�ot� Minn. B-;7, one-third o! the aet oo�t ot �aid
Su�itrIInt��r�itq Pro�eot, Minn. 8-47 �ao�r �TDP - Minn, A-i),
and subr�anti�lly one-�iourtb ot the �t ooet ai raid DoMato�rn
IIrbaa �tenexal Pro��ot�, Minn. x-E0, as .oti�ated� aa alore�sid�
and tor ths tnrther psy,nent oi any Redainin6 Cos� oi Munioipsl
Baildin�s gad Iaproven��nt• to be oonstruot•d �+i.thin or ad�aosat
to th• ar�s ot eaoh o�' �aid pro��ot�, That d��pit� the allo-
ostion oi boad prooeedi �ade in tbis IIewlntion, the aaia� shail
be �nb�eot to rs-siloaation in purpo�+� and a�o�nt oon�ist�nt
rith Chapter 881, 9es�ion Ls�rs oi Minne�otis ior i963� aa a►�ndsd
bq Chapter 499� Laxs ai Minaasots ior t967. Be�ular 8���toa=
� ps'u�idsd, thet ao psr� oi th� prooe�d� �ot the issns000 and
•al� oi any o! �sid bond• �hal2 b� �ad� th� sub��ot oZ sny
reallooatioa or disbur�e�ent sYOept !or the pur�►ooe oi the
pay�ent or deirsq�sent oi said City�s ob116ations a��urted�
un�isr and by �uthority oi �aiQ Aot� �ia re�p•ot of oae or
sors o! the aeverai IIrban Aene�ral DevslopMnt Pro�sot�
epeoiti�d thsrein. That said bond� shall be paysble !n 1�►xtal
soney oi ths United S#�ater oi Averioa at t�he ottio• oi the
Fisoal Aseat ot said C�.ty in eitLer Saint Pmul� Minne�ota,
or Nsa York, lt�M Yor�, at the optioa Qt th� holdsr! and the
iull laith a�d oredit oi •aid Citg hereby are irrevooably
pl•dasd ior the p�onpt eutid taithiul p�y�en� oi both prinofpal
a�►d inisr�st ot •sid bond�.
COUNCILMEN Adopted by the Co»�� 4 1��� 19—
Yeas Naye
Butler i4� 4 ;g�o
Carlson ApprovA� ` 19_
�°�e in Favor
Meredith
Sprafka � ��
Ag'ain8t
Mr. President, McCarty
��