04-300Council File #
Green Sheet #
Presented By:
19
Referred To: Date
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WHEREAS, the City of St. Paul will refund the outstarcding 1996 Capital Improvement Bonds on March 10, 2004; and
WHEREAS, four completed projecu funded with the 1996 bond proceeds have posirive account balances; and
VJHEREAS, accounring and compliance with federal arbitrage regularions will be sunplified by closing these four
completed projects prior to refunding the 1996 bonds; so
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor and
advice of the Long-Range Capital Improvement Budget Committee, that the 1996 Capital Improvement Budget and 2004
General Debt Service Budget, as heretofore adopted and amended by this Council, is hereby fur[her amended in the
following particulazs:
Current Amended
CAPITAL IMPROVEMENT BOND FUND Budget Changes Budget
Spending
925-90096-0565 Transfer to Capital Projects
925-90096-0560 Transfer to Debt Service Fund
Total
CAPITALIMPROVEMENTBUDGET
N�nancing
C96-XXXX-7316 Transfer from 1996 CIB
Spending
C96-4D003 Old EastTeam Renovation
C96-7C001 Trash Receptacles
C96-ST009 Fire Station RemodeVFemale FF
C96-7R009 Downtown Signage
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
18,22Q000.00
155,305.06
18,375,305.06
315,266.27
Total 315,266.27
75,695.00
16,000.00
173,571.27
50,000.00
Total 315,26627
(6,37994)
6,37994
0.00
(6,379.74)
(6,37974)
(3,00490)
(2,006.82)
(1,288.45)
(79.77)
(6,379.74)
C�1' �
3012855
1$213,620.26
161,684.80
18,375,305.06
308,886.53
308,886.53
72,69030
13,993.18
172,282.82
49,920.23
308,886.53
Page 1 of2
p�.E,-3ob
39
40 GENERAL DEBT SERVICE BUDGET
41
42 Financing
43
44 960-89996-7306 Transfer from Capital Projects Fund 0.00
45 960-89955-9830 Use of fund balance 4,441,948.00
46 Total 4,441,948.00
6,379J4
(6,379.74)
0.00
6,37974
4,435,56826
4,441,948.00
Adoption Certified by Council Secretary:
�
Approved
�
Approval Recoq�nended b� Services Director:
r
By: P'�1
Form Approved by City Attorney:
'�a St. l�avl Y.�ag • Range C;apifal Iutpzovsmenti
mk;d��i �mmitie2 zsceived this recxucst on
ccia'a`1 3 �� � -- .._ an� :accmme :c.F
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Page2of2
Adopted by Council: Date 11 �
D�
Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
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DepartrnenUoffice/council: Date Initiated: f
Fs - F��;�s�,;� o¢�.R� Green Sheet NO: 3012855
Contact Person 8 Phone• Deoartrnent Sent To Person �InitiailD te
PeferButler � o msnc;alServices t �7 %T�C7,4'
��� Assign 1 cial Services De eut D'uedor
Must Be on Council Agenda by (Date): Nwnber Z tial Services ce Financial Services
For ��. --
Routing 3 ' Attorne
Order q or's Office Ma orlAssistant
5 ounc�7 ' Counal
6 ' C1erk ' C1erk
Total # of Signature Pages _{Clip All Locations for Signature)
Action Requested:
Approval to transfer suxplus CIB project balances from completed 1996 pmjects to the General Debt Service Fund.
Recommendations: Approve (A) or Reject {R): Personal Service Contrects Must Answer the Following Questions:
Planning Commission 7. Hasthis persoNfirm everworked under a contrad forthis departmenY?
CIB Commdtee Yes No
Civil Service Commission 2. Has this persoNfirm ever been a city employee?
Yes No
3. Does this persoNfirm possess a skill not normally possessed by any
curreM city employee?
Yes No
Explain ali yes answers on separete sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
The City of St. Paul will refund the outstanding 1996 Capital Improvemen[ Bonds on March 10, 2004. Four completed projects
fiuided with the 1496 bond proceeds have positive account balances. Accounting and compliance with fedecal azbitrage regulations
will be simplified by closing these four completed projects prior to refunding the 1996 bonds.
Advantages If Approved:
Reduce papenvork to track azbitrage on refunded bonds.
Disadvarrtages If Approved: �
None.
° edF>�'a'�'' o � �~ si
P.� :C ".�... . . J;ri
DisadvanWges If Not Approved: Ea�;
�'��' � � ����t
� TotalAmountof $6,379.74 CosURevenue Budgeted: Y
Sransaction:
Fu�a�ny source: Capital Improvement nctivity Number: Funds 925 and 960
Financiallnformation: Bonds
(Explain)