245249 , A`/��
r ORIGINAL'RO C1TY CLBRK �( �jj�7
CITY OF ST. PAUL couNCa � �� 7."
r OFFICE OF THE CITY CLERK F��E NO.
U IL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONE DATF
WHEREAS, there has been enacted by the State of Minnesota
in Chapter 459, Laws of 1967, legislation relative to the issuance
by the City of Saint Paul of bonds to provide funds to construct,
reconstruct, remodel and eq� a Civic Center consisting of but
not being limited to the existing auditorium and �l�ea�r�, the existing
arena remodeled to a new exhibition hall, concourses, new arena,
and associated parking ramps sometimes hereinafter collectively
referred to as the Civic Center; and
WHEREAS, said legislation in Section 1 thereof authorized
the issuance and sale by the City of Saint Paul of Three Million
Dollars (�3,000,000.00) of general obligation bonds and said legis-
lation in Section 2 thereof authorized the issuance and sale by
the City of additional general obligation bonds in an amount_ �.ot
to exceed Ten Million Dollars (�10,000,000.00) ; and
WHEREAS, Section 3, Subdivision 1 of said legislat�ion provides:
"The city shall have power to negotiate and to
obtain, and shall obtain, from responsible persons, firms,
and corporations, non-cumulative guarantees in an
aggregate amount not to exceed �150,000 annually for
, a period of ten years, commencing after one year of
operation of the arena portion of the civic center,
� which shall bind each guarantor respectively to pay
his pro rata share of the annual principal and interest
,o payments necessary upon the bonds authorized by
> section 2 hereof to the extent revenues from the
aI civic center are insufficient for" such purpose. Provided,
'�- � however, that guarantors ' aggregate obligations under
said non-cumulative annual guarantees of �150,000
� (for any calendar year) shall be further limited to
� the amount by which income available for debt retirement
�
from all parking and concessions associated with the
civic center falls below �500,000. ' Income available
for debt retirement, ' with respect to parking �acilities,
means gross receipts minus all operating, promotional
or other expenses; and ' Income available for debt
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Carlson
Dalglish Approved 19—
Meredith Tn Favor
Peteraon
Sprafk� Mayor
Tedesco A gainst
Mr. President, Byrne
��
� � .
� 1
����'��
Page 2.
retirement' with respect to concessions means the
earned income received by the city from the concessionaire
or if operated by the city means gross receipts minus
all operating, promotional or other expenses; both
of which shall be subject to the control of the civic
center commission defined herein.
"Guarantees shall run from the guarantor to the
city of Saint Paul and shall , upon their acceptance
by resolution of the city a�ncil , constitute legal
and enforceable obligations of the respective guarantors
in accordnance with the terms thereof, notwithstanding
any provision of law which might otherwise declare such
guarantees to be ultra vires on the part of the guarantor
or the city. ";
and
WHEREAS, the Council of the City of Saint Paul, pursuant to
Council File No. 24og63, approved November 15, 1968, did accept
guarantors ' agreements amounting to �150,000 annually for a period
of ten y�ars; and
WHEREAS, it is the desire oY additional members of the business
community of the City of Saint Paul to become guarantors of the
Civic Center; and
WHEREAS, said guarantors have delivered to the City of Saint
Paul guarantors ' agreements and amendments ratifying the provisions
of 1967, Chapter 459; now, therefore, be it
RESOLVED, that the City of Saint Paul hereby accepts agreements
of the following additional guarantors:
Webb Publishing Company - agreement in the amount
of �5,000.00 annually for
a period of ten (10) years;
Saint Paul Book & Stationery Company - agreement in the amount
of �3, 500.00 annually for
a period of ten (10) years;
Northwestern National Bank - agreement in the amount
of �3,000.00 annually for
a period of ten (10) years;
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/
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Page 3.
West Publishing Company - agreement in the amount
of �2, 500.00 annually for
a period of ten (10) years;
Minnesota Federal Savings & Loan
Association - agreement in the amount
of �2, 500.00 annually for
a period of ten (10) years;
Twin City Federal Savings & Loan
Association - agreement in the amount
of �2, 500.00 annually for
a period of ten (10) years;
H. M. Smyth Company, Inc. - agreement in the amount
of �1 ,000.00 annually for
a period of ten (10) years;
Springsted, Inc. - agreement in the amount
of �1 ,000.00 annually for
a period of ten (10) years;
Davidson Company - agreement in the amount
of �1 ,000.00 annually for
a period of ten (10) years;
J. L. Shiely Company - agreement in the amount
of �1 ,000.00 annually for
a period of ten (10) years;
Bechik Products, Inc. - agreement in the amount
of �1,000.00 annually for
a period of ten (10) years;
Bart Jordano Association - agreement in the amount
of �500.00 annually for
a period of ten (10) years;
Northwestern State Bank - agreement in the amount
of �500.00 annually for
a period of ten (10) years;
and the proper City officials are hereby authorized and directed to
execute such agreement� and addendums; be it
. . . .
' ORIGINAL�O C{iY CL6RK ��J���
CITY OF ST. PAUL couNCi� � �
OFFICE OF THE CITY CLERK ��E NO.
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
Page 4.
FUR,THER RESOLVED, that a copy of this resolution be se�.t to
each of the above named guarantors by the City Clerk.
AUG 15 1969
COUNCILMEN Adopted by the Council 19—
Yeas Nays A�G 1 �j 1�69
Carlson
Dalglish � Approved 19—
Meredith Tn Favor
Peterson '
Sprafka � Mayor
A gainst
T�texe--
Mr. President, Byrne AUG �d� t���
�uBCasHEa
�o
�
�
STATE OF MINNESOTA )
� SS.
County of Ramsey
Albert B. Olson, being first duly sworn, deposes a�d says that
on the 19th. day of August, 1969, he served 31 copies of resolutions,
C. F. 245248 and C. F. 245249 upon �1r. Harold J. Ctumnings, St. Paul
Area Chamber of Ccmanerce by deliverin� persona.11y to:
Saint Paul Area Chamber of Ca�erce
3� Osbortt Building
Saint Paul, Minnesota, 55101
Subscribed and sworn to before me this
19th. day of August 1969, � ,� �
�������-e�-L f��/.,.�.�•�! C�_,
Notary Publie� Ramsey'a. ty, Minn. Albert B. Olson
�;<
`.;;9".;
� ��2� �
Aug• 19, 1969
Mr. Harold J. cwmanings,
c/o St. Paul Area Chsmber of Co�amerce, ,-------.____ �
300 O�born Building, `------._.-�•
3t. F�.ul� M3nn. ��101.
Dear Mr. Cummin�s:
Er�lased please find 31 es of t resolutions ot'
the Saint Paul City Gouncil, C. F. 2 1+8 a�. F. 2�+52�+g,
passed on August 15, 1969, by which th of Saint Paul.
accepted the Guarantors° A�x for h new Civic Center
Ca9mplex.
Paragraph E4 o aid Guaran s' A�reements r�quires
the City to furnish each rantor wi a list a� Guarantors and
the face �,mount of e�ch G antee. agraph �5 provide� that
the Saint Pau1 Ar����-�mbe C r�,.�e is the �gent �or the
Guare�ntors. T e or , we �.r providing to the Saint Paul
Area Chamber Ca.rnnerae' as agents for the Gu�araritars, the list
of Guaxantor nd. tY�e fac amount of the Guarar�tee. �
Yery truly yours,
City Clerk
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