239680 t -
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OR161NAL T�1 CITYrCLERK C�'1'���' e
• ° " '" CITY OF ST. PAUL �' couNCi� d�z� ����'�'
OFFICE OF THE CITY CLERK �;. F��E NO.
CO CI RESOLUTION—GENERAL FORM
PRESENTED BY �
COMMISSIONE pqTF
RESOLVED, , By the Council of the City of Saint Paul,
that the Council of the City of Saint Paul hereby estimates
that, as such terms are defined in Min.nesota Statutes 1g65,
Section 462. 545, the "Public Redevelopment Cost" of the
Downtown Urban Renewal Project Minn. R-20 is �25 , 242, 368,
the "Capital Proceeds"of such project is �5 , 166, 544, and
the '�Net Project Cost" of such project is �20, 075,824; that
the "Public Redevelopment Cost" of the Riverview Industrial
Project Minn. R-26 is �8, 510,785 , the "Capital Proceeds" of
such project is �1, 568,597 , the "Net Project Cost" of such -
project is �6, 942, 188, an.d the Remaining Cost of Municipal
Buildings and Improvements to be constructed within or
„' '.�"`'.�"� �
adjacent to the area of said project. is ��2.5.4.;881; .tha,�1t ��
��ti. .
the "Public Redevelopment Cost" of the Concoi•u°-•rerrace
Project Min.n. R-37 is �g, 118, 103, the "Capital Proceeds"
of such project is �1, 285,863, the "Net Project Cost" is
�7,832,240, and the Remaining Cost of Municipal Buildings �
and Improvements to be c_o�structed..�within or adjacen.t to the •
area of said project is� 325 ,325�;�,,,-_�tiat�' with respect to -
� the early land acquisition and pa r �improvements of the
Summit-University Project Minn. R-47 , the "Public Redevelopment
Cost" is �8,8'4g, 111, the "Capital Proceeds" of such project
is �1,450,000, and the "Net Project Cost" of such project
is �7, 399, 111; be it .
RESOLVED FURTHER, That pursuant to the provisions of
Chapter 881, Laws of Minnesota fo r 1g63, as amended by Chapter
0 499, 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 Two Million Six Fiundred Forty-five
� � � Thousand Dollars (�2,645, 000) for the purpose of procuring
� � additional funds necessary to pay not to exceed one-third
� (1�3) of the Net Project Cost of each of the aforec�.aid
� � projects and the Remaining Costs of Municipal Buildings and
Improvements to be constructed within or adjacent to the
� project areas , to be denominated "City of Saint Paul Urban
� � Renewal Bonds, Series 1968E" . Of the proceeds from the sale
of such bonds , there shall be allocated to the Downtown Urban
COUNCILMEN Adopted by the Council 19—
eas ' Nays
Carlson
Dalglish Approved 19—_
Meredith Tn Favor
Peterson
Sprafka Mayor
Tedesco A gainst
Mr. President, Byrne
O
. : � . ' ,
��������
Page 2.
Renewal Project �1, 148 ,000, ����;.g4� shall be allocated to
the Ri'verview Industrial Project, �7;4�, 0�6' shall be allocated
to the Concord Terrace Project, and �400, 000 shall be allo-
cated to early land acquisition and park impbovements of
the Summit-University Project; be it
RESOLVED FURTHER, That such bonds , authorized by said
Chapter 881, Session Laws of Minnesota for 1g63, as amended
by Chapter 499, Laws of Minnesota for 1967, Regular Session,
hereby provided and directed to be issued and sold, in the
par value amount of Two Million Six Hundred Forty-five
Thousand Dollars (�2,645, 000) shall be issued and sold in
the-:�anner required by law; that the bonds of said issue
sha]1 al1:I�eiin the denomination of �1,000 or �5, 000, at the
option of the purchaser, dated August 1, 1968, and bear
interest at a rate not in excess of six per centum (6�0)
per annum, payable semi-an.nually on February 1 and August 1,
accordirng to interest coupons to be attached to said bonds ;
that said bonds shall be seri.al in form, and a portion thereof
shall be payable each year commencing ' �ugax'st 1, 1971, but
no��ne of said bonds shall run for a longer period than thirty
(30) years ; be it
RESOLVED FURTHER, That said Two Million Six Flun.dred
Forty-five Thousand Dollars (�2, 645, 000) par value bonds to
be issued and sold for such Urban Renewal Development Project
purposes and to be denominated, as aforesaid, "City of Saint
Paul Urban Renewal Bo�ds , Series 1968E" , shall mature serially
commencing August 1, 1971, over said thirty-year period on
the following dates �,nd in the following amounts :
Date of
Maturity Amount
August 1, �g71 � 30, 000. 00
August 1, 1972 30, 000, 00
August 1, 1973 50, 000. 00
August 1, 1974 50, 000.00
August �, s975 65 , 000. 00
August 1, 1976 65,000. 00
August 1, �977 0 75 , 000. 00
August 1, 1978 75 , 000. 00
August 1, 1979 75 , 000. 00
August 1, 1980 80, 000. 00
August 1, 1981 80, 000. 00
August 1, 1982 80, 000. 00
August 1, ig83 80, 000. 00
August 1, ig84 100, 000. 00
August 1, sg85 100,000. 00
Page 3. � �'
�������
Date of Maturity Amount
August 1, 1g86 100, 000. 00
Aug�st 1, 1987 1�:0,000. 00
August 1, 1988 110, 000. 00
August 1, 1g8g 125, 000.00
August 1, lggo 125, 000.00
August i, 1991 �25,000. 00
August 1, �.gg2 125, 000. 00
August 1, �993 130, 000. 00
August �., 1gg4 130,000. 00
August �, 1995 130, 000. 00
August i, 1gg6 , 130,000. 00
August i, 1997 �35, 000. 00
August 1, 1gg8 135, 000.00
Total �2,645, 000. 00
be it
RESOLVED FURTHER, That the bonds maturing on an.d after
August 1, 197g shall be subject to redemption by the City of
Saint Paul , in whole o� in part, in the inverse order of their
maturities , on August 1, 1978, or on any interest payment
date thereafter, at the principal amount thereof, plus in-
terest accrued thereon �Gn. the date of redemption, together
with a premium expressed in a percentage of the principal
a�oun.t of bonds redeemed as shown below:
Period Redemption
Premium
On August 1, 1978 to and
including February 1, 1982 3°fo
On August 1, 1g82 to and
including February 1, 1985 2-1�2�
On August 1, �.gs5 to and
including February 1, 1988 2�0
On August 1, 1988 to and
including February 1, i99�. 1-1�2°fo
On August 1, i991 to and
including February 1, 1gg4 1°�0
On August 1, 1gg4 to and
including February 1, �997 1�2 of 1°fo
Thereafter No premium
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
�
������y�
Page 4. �
circulation, or in a daily financial paper, published in
New York, New York, and print ed in the Engl ish language , and �
once in a daily or weekly periodical;spublished 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 financia�. news as a part of its serv�:ce , such
notice to be published not less than thirty nor more than
forty-five days prior to the date fixed for redemption; be it
RESOLVED FURTHER, That said Two Million Six Hundred
Forty-five Thousand Dollars (�2, 645 ,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 RAMSEY
CITY OF SAINT PAUL
URBAN RENEWAL BOND
SERIES 1968E
No . . . . . . . . . . . . . . . . . . . . . . . . �. . . . . . . . . . . . .
�:►
"KNOW ALL MEN BY THESE PRESENTS, That the City of Saint
Paul, in the County of Ramsey and State of Minnesota, ack-
nowledges itself to owe and for value received hereby
promises to pay to Bearer the sum of . . . . . . . . . . . . . . . .
Dollars (�. . . . . . . . . . ) on the first day of August, 19. . . ,
together with interest thereon from the date hereof ua�.til
paid at the rate of . . . . . . . . . . . . . . per centum per a,nnum,
payable semiannually on the f irst days of February an.d Aug�ist
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, Min.nesota , or New York, New York, at
the option of the holder; and for the prompt payment of
this bond, both principal an d interest, when due , the 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, 1979 are subject to
redemption by the City of Saint Paul , in whole or in part,
in the inverse order of their maturities , on August 1,
1978 , or any interest payment date thereafter, at the prin-
cipal amount thereof, plus interest accrued thereon to the .
�����,��� y
�
Page 5.
date of redemption, together with a premium expressed
in. a percentage of the principal amount of bonds redeemed
as shown below:
Period Redemption
Prem ium
On August 1, 1978 to and
including February 1, 1982 3�fO
On August 1, 1g82 to and
including February 1, ig85 2-1�2�fo
On August 1, 1g85 to and
including February 1, 1988 2�0
On August 1, 1g88 to and
including February 1, �gg�. 1-1�2%
On August 1, sgg�. to and
including February 1, 1gg4 1�/0
On August 1, i994 to and
includip.g February 1, i997 1�2 of 1�0
Thereafter No premium
If less than all the bonds of a maturity are called for
redemption, the bonds so called shall be se�lected by
lo�t. Notice of redemption shall be given by publication
of a notice �of redemption once in a daily newspaper of
general circulation or in a daily financial paper, pub-
lished in New York, New York , an d printed in the English
language , and once in a daily or weekly periodical pub-
lished in a Minnesota city of the first class , or its
metropolitan area, a.n.d printed in the English lan.guage ,
which circulates th roughout 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 figed 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 �2,645, 000, authorized by Chapter 881,
Session Laws of Min.nesota for 1g63, as amended by Chapter
499, Laws of Min.nesota for 1967 , Regular Session, and
a duly adopted resolution of the Council of the City of
Saint Paul , for the purpose of procuring the necessary funds
to pay not to egceed one-third of the net project cost
of certain Urban Renewal Development Projects , within
� •
. , • .
� �����
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Page 6.
the corporate limits of said City, designated "powntown
� Urban Renewal Project Min.n. R-20, " "Riverview Industrial
Project Minn. R-26, " "Concord Terrace Project Minn. R-37, "
and "Summit-University Project Minn. R-4'7 , " being four
of the several Urban Renewal Development Projects mentioned
in said Chap ter 881, Session Laws of Minnesota for 1g63,
as amended by Chapter 4gg, Laws of Minnesota for 1g67 ,
Regular Session, and for said City ' s expenditures on account
of any Remaining Costs of Municipal Buildings and Improve-
ments to be constructed within or adjacent to the area of
said Projects.
"This bond is issued and sold by said City of Saint
Paul un.der and by authority of Ghapter 881, Session Laws
of Minnesot a for �.963, as amended by Chapter 499, Laws
of Minnesota for 1967 , Regular Session, under and by
authority�of,a_duly� adopted resolution of the Council of
the City of SainZ� Paul , and in full compliance with said
Chapter 881, as amended, said resolution, the Cha rter of
the City of Saint Paul, as applisable , and Chapter 475,
Minnesota Statutes 1g65, as amended. .
"It is hereby certified a,nd recited that all things, .
, acts a,nd 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 inde�btedness of said City,
including this bond , does not exceed any constitutional,
statutory, or charter limitation.
"IN WITNESS WHEREOF, Thetsaid City of Saint Paul,
by its Council, has caused this bond to be sealed �by _ _
the facsimile of its Official Seal , lithographed he�reon
to• be signed by the lithographed facsimile signature of`
• its Mayor, attested by the lithographed facsimile sig-
nature of its City Clerk, and coun.tersigned manually
by its Comptroller, and each of the interest coupons
hereto attached to be executed by the lithographed
facsimile signatures of said of�icers , as of the first
day of August, 1g68. �
/ �� .
,. . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . .
Mayor
Attest : . . . . . . . . . . . . . . . . . . . . .
�City�Clerk .
Countersigned: . . . . . . . . . . . . . . . . . . . . . .
� City Comptro ller
Page 7 . 1
�������
"COUPON �''
No . . . . . . . . . . . . . . . . . . � �. . . . . . . . . . . . . . .
"On the first day of February� �9. . . � �less the
„
August �
Bond hereinafter mentioned shall be subject to prior re—
demption a,n.d shall have theretofore been duly called for
prevYous redemption and payment of the redemption price
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
1968E, dated as of August 1, 1968, No . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest: . . . . . . . . . . . . . . . . . . . . . . . . . . . .
City Clerk
Couritersigned: . . . . . . . . . . . . . . . . . . . . . . . . .
City Comptroller
and be it
RESOLVED FURTHER, 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
facsimile signature of the Ci�y Clerk, and countersigned
manually by the City Comptroller , in accordance with Section -
475 . 55 , Minnesota Statutes 1g65 , as amended, and the interest
coupons thereto attached shall be executed by the lithographed _
facsimile signatures of said officers ; and be it
RESOLVED FURTHER, That sealed proposals be received
in the office of the City Comptroller in the City Hall an.d
Court House Building, in the City of Saint Paul, Minnesota,
at 9: 00 o ' clock A.M. (C.D.T. ) August 20, �.g68 , for the sale
of all or none of said bonds , after giving due notic,e 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 finan.cial 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 per centum (2�0) of the aanount of bonds bid for, which
will be �orfeited to the City as liquidated damages if the
bonds are not taken and paid for when ready for delivery;
tha t 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 to the
City, not exceeding sig per centum (6�fo) per an.num; be it
OR161NAL TOrCIT^!CLERK ��'4i����
- • " � CITY OF ST. PAUL FILENCIL NO. "
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
Page `$.
RESOLVED FURTHER� That the proceeds from the issuance
and sal.e of said bonds , as received by said city, shall be
deposited in a special fund of said City desi�gnated as "Urban
Renewal and Deve lopment Fund, " and therein allocated to and
subject to disbursement for the City� s obligation pertinent
to said Downtown Urban Renewal Project, Minn. R-20, Riverview
Industrial Pro j ect, Min.n.. R-26, Concord =;Terrace Pro j ect, Min.n.
R-37, and Summit-University Project, Minn. R-47, for the payment
of substantially one-third of the net cost of said Riverview
Industrial Project, Minn. R-26, one-third of the net cost of
said Concord Terrac.e Project, Minn. R-37, one-third of the
net cost of said Summit-University Project, Min.n. R-47, and
substantially one-fourth of the n.et cost of said Down.town
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 amoun.t con-
sistent with Chapter 881, Session Laws of Minnesota for 1g63,
'as amended by Chapter 4gg, Laws�of .tMinnesota for 1967, Regular
Session; provided, that no part of the proceeds of the issuance
and sale of any of said bonds shall be �made the subject of
any reallocation or disbursement egcept 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, Min.nesota, 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 an.d faithful payment of both principal and in-
terest of said bonds .
�q� 2 1�6g
COUNCILMEN Adopted by the Council 19—
Yeas Nays ,
carlson ,,��� � 196�
Dal� Approved 19—_
Meredith S�
Tn Favor
Peteraon
Sprafka � Mayor
A gainst
�edesCV�
Mr. President, Byrne
�us�rs�E� AUG 3 1968
�O
� ORICI!7AL TC`. CITY CLEIi1C �
•�, F' CI�'Y OF ST. PAUL ; COUNCIL
, �.�' . � OFFICE Qf- THE CITY CLERK �, FILE N�• ,� , O
COUNCIL RESOLUTION—GENERAL FORM
_ ,
� PRESENTED 8Y
COMMISSIONER DATF
R�SOLV�D, By -Lhe Couric il of the City o� Saint Paul,
, tliat the Council of i;he City o� Saini; Paul hereby estinia�i;es
tlzai;, as such terms are defiiied ii1 Min.nesota Si;atutes 1965,
Sec�l;ioiz 462. 5�5 , the "Public Ftecleveloplueiit Cost" of the
Do�vni;o�vn Urban Iteizeival Pro j ect A1inn. R-20 is �25 , 242, 368,
tlie ��Capital Proceeds"of such project is �5, 166, 544, and
the "Net Projec�L Cost" of such projec�; is �20, 075,824; �;hat
• the. "Public Redevelopmenl; Cosi;" of the Riveiviez�� Inclus�Lrial
Projeci; Mini1. R-26 is �8 , 510, 785, tlie "Capital Proceeds" oi'
such pro j ect is �1, 568, 597, tlie "Nei; Pro j ec� Cost�' of sucli -
� p.rojee�; is �6, 942, 188, aizd the Remainiilg Cost o� Municipal
Buildings and.. •Improvemen�;s to be constructed within or
. adjacent to the area of said project is �254,88��; th�.t -
i;he "Public Redevelopmeni; Cos1;" of i;he Concor�u �rerrace
' Project Mini1. R-37 is_ �9, 118, 103, the "CaPital Proceeds"
; of such project • is �1, 28� ,863, the "Nei; Project Cost" is
�7,832, 240, and the Remaining Cost of Municipal Bi,lildings
and Iml�roqements to be construci;ed wi�l;h�.n or adjacent to the -
. area of said pro j ect is �325 , 325 ;� .� _��lat . saith respect to � •
; � � the early ].and acquisition and parl� iinprovemeizts of the
� Summit–University Project Minn. R�47 , the "Public l�edevelopmeni; •
r Cost" is �8,849, 11�, the "Capital Proceeds" of such projec�;
is ��, 450, 000, and the "Net Project Cost" o� such project
� is �7';399, �-11; be it .
� .-� . - . � .- - - - - -- �- - - . . _ - � -- --_
� R�SOLVED PURTHER, That pur�uant i;o the provisions of
, Chap�ter 881, Laws of Minizeso�i;a for 1g63, as amended by Chapter
; 499, La1�s of Min.nesota for 1g67, Regular Session, i;here shall
; be issued and sold general obligation bonds of the Cii;y in
� the par value amount of Two Million. Six Hundred For1;y–five�
� Thousand Dollais (�2, 645, 000) for the purpose of procuriizg
; adc�itional funds necessary to pay not to e�ceed one–third
� (�-�3) of the Net Project Cost of each of the afore�aid
; projects and the Remaining Costs of Mu�.icipal Buildings and
j I�nprovements to be cons�iucted within or adjacex��(; to the
j project areas , to be denomina,ted "City of Saint Yaul Urban
I Renewal Bonds , Series 1g68E" . Of the proceed.s from the sale
i of such bonds , tliere shall be alloca�Led to i;he Dozvntosan Urban
j COUNCILMEN Adopl;ed by the Council 19_
�
' Yeas Nays .
i- ,
� Carlsori • �
; � Dalglish . � Approver] 19—_
� Meredith `
'� . Tn Favor " , ,
Peterson -
; � Mayor
i Sprafka , A ainst .
' Tedesco g
� rZr. President, Byrne
� � • -
� :
r �O
� . , `
� . _ . �a. ._ . .._ _.- . . -- - • - • - . •---- - , • . - -
. �
, • � 4 , '
• , i
. �
. . . �����0, "
� Page �2. .
I
Itenezaal Pro j eci; �1 , 11i8 , 000, �35�, 94�1i• shall be allocatecl to
tiie Rivervie�a Inclusi;rial Pro j ect, �71�5 , �5� shall be allocated.
to the Concoid Terrace Project , aild �400, 000 shall be allo-
c�.ted to early land acquisition and park improvements of
the Sumuiit-Universil;y Project; l�e it •
' RESOLVED FURTf��R, That such bonds , authorized by said
Chap�;er 881, Session Latas of� Minnesot�, for �963, as amended
by Chapter ��99 , Laias of Minnesota for 1967 , Regular Session,
hereby provided and direc�;ed to be issued ancl sold, in the
par value ainount o� Tsao Million Six IIuiidred� Forty-�ive
Thousand Dollars (�2, 61t5 , 000) shall be issuecl and sold in
i;he manner required by law; that the bonds of said issue
shall'all be:in the denomination of �1, 000 or �5, 000, at the
� option of the purchaser, dated August 1, 1968, and bear
in.terest at a rate not in excess of siY per centum (6%)
per anilum, payable semi-annually on February 1 and August 1 ,
accoriling to in�Lerest coupons to be attached i;o said bon.ds ;
� that said boncTs shall be serial in form, and a portion thereof
shall Ue payable each year commencing August 1, 1971, but
no�ne of said bonds shall run for a longer period than thirty
.�3�� Years ; be :it _. _ - - -�- _ . __ . . --_ -__ ,.._-.
, .�r: _ ,� _ - .. T_ _-- - - �- - - - . -_ _���. - - .._ _ -_
�` � __,�.,=�;_-� __
-" �`�"` l'�" � `^ RESOLVED FURTHER, That said Ttvo DZillion Six Hundred
For1;y-five Thousaild Dollars (�2, 645 , 000) par value bonds to
be issued a,nd sold for such Urban Renewal Development Project
purposes ancl �;o be denominated, as aforesaid, "City of Saint
Paul Uiban Rene�val Be,nds , Series 1968E" , sllall mature serially `�
commencing August i , 1971, over said thirty-year period on
the following dates �.nd in the folloz�Ting amounts :
Date of � •- -
Maturity A.mount
Augus�; i , �.971 � 30, 000, o0
August i, 1g72 _ 30, 000, 00
August 1, i973 50, 000. 00
August 1, 1974 50, 000. 00
August 1 , 1975 65 , 000. 00
August 1, 1976 65 , 000. 00
August 1, 1977 ; 75 , 000. 00 .
August 1, 1978 75 , 000. 00
August 1, 1979 75, 000. 00
" August 1, 1980 80, 000. 00 . .
August i, 1981 80, 000. 00�
August 1, 1982 80, 000. 00
Aiigust 1 , sg83 80, 000. 00
August 1, 1984 ' 100, 000. 00
August �., �9s5 . soo,000. 00 .
I .
'� , . • � . ,
, " .
� • ,
• Page 3. ���ti,.9��
Date of Niaturity Amounl;
• . AUgliSt �•, sg86 � , �oo, 000, o0
, Au.gtisi; 1, 1987 1�0, 000. 00
Augusl; 1 , 1988 110, 000. 00 •
August 1, �.g8g 125, 000. 00
, • ALibLlSt �., 1ggo 125, 000, o0
AUbllSj; 1, sggl 125 , 000. 00
August 1, s992 125, 000. 00
August 1, 1993 130, 000. 00
August i, 1994 i3o, 0o0. 00 -
. : August 1, 1995 130, 000.�00
August 1, �996 . �.30, 000. 00
August 1, i997 i35, 000. 00
August 1,. �.ggs 135 , 000. 00
Total �2, 645, 000. 00
be it �
RESOLVED FURTHER, That the bonds maturing on an.d af ter
� August 1, ig7g shall be subject to redempi;ion by the City of
• , lSaint Paul, in ����ole or.' in part, in the, iilverse order of their
- maturi.ties , on August 1,_ 19'78,_ or on any interest payment
date thereafter, at the principal amount �hereof, plus in-
terest accrued thereon tn the date of reclemption, together
with a premium expressed in a percentage of the principal
a�ount of bonds redeemed as shosan belozv:
�..e.-�--�_, �� _ � _� - . - - y ,_ .. - --
Period ^ Rec�empl;ion _
Premium
On August i, 1978 to and � -
including r'ebivary 1, 1982 3� .. ,
On August i, 1g82 to and ,
including February 1, 1985 2-1�2dfo
On August 1, 1985 to and ,
in.cluding February 1, 1988 2°fo
On August 1, 1988 to and �
� •including February 1, sgg�. 1-1�2�/0
On August 1, 1991 to and
includiiig February 1, 1994 1°fo .
Oil August 1, igg4 to and
.including February 1, �997 1�2 of 1°fo :
Thereafter No premium
If less than all i;he bonds of a maturity are called for
redemption, the bonds so called shall be selected by lot .
Notice of reclemption shall be given by publica�i;ion of a
' . , notice of redemption once iii a daily nesaspaper of general ,
,{ ,; . . � , • -
�ri , •- "^f ' ' � . • _
� . � s ,
�� � ,w.. .
: � ' '�
, !� � � � _.. . . • — _ ,
. Q ' •
, . - ������ .
Page 1�. '
� circulation, or in a �d�.ily financial paper, publislied in
New York, Neiv Yorlc, and printed in the English lan�;uage , and '
once in a daily or t��eekly periodical• published in a rlinnesota
city of the first class , or its metropolitan area, and printecl
in tlle English language , ivlzicll ,circulates throughout the State
and furnishes financial nes��s as a part of its serv.ice , such
notice to Ue published not less than thirty nor more than
forty.-five days prior to the date fi�ed for redemption; be it
RESOLVED FUI�TFIER, That saicl Two Million Si� Hundred
- Forty-five Thousand Dollars (�2, 645 , 000) par value bonds to
be issued for such Urban Renesval Development Projeci; purposes
shall be in substaiii;ially �;he folloiaing form', which has been
prepared by the Sinking Fund Committee ancl approved by the
� Corporation Counsel of the City of Saint Paul and is hereby
approved and adop;Led:
"UNITED STATES OF AI�IERICA � �
STATE OF NIII�TNESOTA
� � COUNTY OF RAMSEY �
� CITY OF SAINT PAUL `
URBAN RENEWAL BOND
SERIES �.968E
_'No . . . . . . . . . . . . . . . . . . . . . . . . �. . . . . . . . . . . . .
�t:�
� �"KNO�J ALL MEN BY THESE PRESENTS, That the City of Saint
Paul , in the County of Ramsey and State of Mirulesota, ack-
nowledges itself to owe a�d for value received hereby
prouiises to pay to Bearer the sum of . . . . . . . . . . . . . . . . . . . . . .
Dollars (�. . . . . . . . . . . . . ) on the first day of August, 19. . . ,
togetlier �vith interest thereon from the date hereof u.�itil
paicl at the rate of . . . . . . . . . . . . . . per centum per annum,
payable semiannually on the first � days of February and August
in each year as evidenced by and upon the presentation and
surrender of the an.nexed interes�; coupoils as th.ey se'verally
become due . Both principal of ancl interest on this bond
are payable in lazvful money of the United States of America
at the office o� 1;he Fiscal Agent of the City of Saint Paul,
in either Saint Paul , Minnesota , or Ne�v York, Neza York, at
• the option of the holder; aizd for tlie prompt payment of
this bond, both principal and in�t; erest , svhen due , the faith
and credit of the City of Saint Paul are irrevocably pledged.
� "The bonds of the series of bo�ds o� �ohicll this bond
is one maturing oiz and after August 1, 1979 are subject to
redemption by the City of Saint Paul , in ��hole ; or �in part ,
in tlze inverse order of tlieir maturities , oti ��ugus� 1,
1978, or any interest paymeni; date tlierea�ter, at the prin-
cipal amount thereof, plus interes� accrued thereon to the
, �
. %�.'. . '_ '. _.. . . . .
o � � .
.
, `�����
Page 5 .
date of redemption, toge�;izer saith�aOU 1�plofmbondseredeemed
in a perceni;age of the pi incip�.l .
as shoivn below: -
. Redemption
Period Premium
On August 1 , 1978 to and 3�0
including February 1, 1982
On August 1, 1982 to and 2-1�2°�0 �
including February �, 1985 -
� , . On Augus�; 1, 1985 �Lo and � 2°�0
includirig February 1, 1988
� On August 1, 1988 to and 1_1�2%
i including, February 1, 199�
On August 1, sg91 to and 1�0
� including February 1, 1g9'�
' On Au�ust 1, 1994 to and 1�2 0� 1�0
. includi�g February 1, �997 No premiuin
The reafter
If less than all the bonds of a maturity are called for
recl.emption, 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
, gener�.l circulation or in a daily financial paper, pub-
a 1°ished'-i:n' Neza- Yo�rk,_iJew-Yo�rk'�; and piiilted in° �h_e-Eil�lish
language , and once in a daily or iaeekly p
eriodical pub-
lished in a Minnesot�, city of the first class , or its
� metropolii�an area, aild printed in the English language ,
which circulates throughout t�s- service�,dsuchnnotice . '
financial neias as a part of i
to be published not less than thirty nor more than forl:y-
five days prior to the date fixed for rad�e�tlhereofdduly
such notice shall 11ave been given and p y
made or providdai;e�so fixedeforhredemptlionl cease from
and after the
� "This bond is one of a series of bonds �esa�e aad
sold Uy said City of Sao00 PauthorizedebygChapter 881,
value amount of �2,645 , � as amended by Chapter
Session Laws of Minr� sota for �-96Re ular Session, and
499, La�as of i�linnesota for �967 , g f
a duly adopt�ed resolution of the Council of the City .of
Saint Paul , for the purpose of procuring the necessary funds
to p�y not i;o exceed one-third of the net project cost
. of certain Urban Rene�aal Development Projec�ts , laithin
_� . , -
,
i
, , ,
' t
._ . �
Pabe 6. _ ������
�
the eorporate limits of saicl City , clesignatecl ��DOW11t01V11
Urban Reneival Projecl; rii����. R-20, " "Riverview Inciustrial
Pro j ect rlinil. R-26 , " "Concord Terrace Pro j eci; Minii. R-37 , "
and "Summii;-Univeisity Pioject r�Iinn. R-�i7 , " being four
" of the several Urban Rene�val Developmeiit Projects mentioned
in saicl Chapter 881, Session .Laws of T1irulesota �or ig63,
• a's amended Uy Chap i;er 499, Latvs of Minne sota for �.967 ,
Regular Session, and for said City ' s eYpenditures on account
of any Remaining Costs of I�Iu�icipal Buildings ancl I�nprove-
ments to be constructed jvithin or adjacent to the area of
said Project's . •
"Th�.s bond is issued and sold by said City of Saint ;, �
Paul under and by authority of Chapter 881, Sessioil Lasas
of rTinnesota foi 1963, as amended Uy Chapter 499, Laws
. of Minnesoi;a for 1967 , Regular Session, under and by
authority of a duly adopted resolution �of the Council of '
`r the City of Sainti Paul , and in full compliance with said
� Chapter• 881, as amenciecl, said resolution, the Charter of
i;he Cii;y of Saiiit• Paitl , as applicable , �,nd Chap�er 475 , �
" . riinilesota StatLltes 1965, as amended. +.
� "It is hereby certi�ied and recited that all things,
acts a.n.cl condii;ions require d by �;he Constitution ancl Lazas
of the State of AZirulesota and the Charter of said City to
happen and be done and per�ormed precedent to and in the
issuance of this bond, have happened and been done and
performed in regular. �nd due form and time as required
by laza and that the total indebtedness of said City,
including this bond , does not exceed any constitutional,
statutory, or charter limita�;ion. -
"IN WITNESS j1�3ERE0F, The sa.id City of Saiiit Paul , �` �
by its Council , has caused this bond to be sealed Uy
the facsiliiile of its Official Seal , lithographed hereon
to be signed by the lithographed �acsimile signature of
• its Mayor, attested by the li�Lhographed facsimile sig-
nature of• its City Clerk, and countersigned manually
by its Co�up�Lroller, and each of the interest coupoils
hereto attached to be executed by the ].ithographed
• � facsimile signatures of said officers , as of the first
day of August, i968. y
.�. . . . . . . . . . . . . . . . . . . . . . . . . . . .
• � Mayor � -
Ai;test : . . . . . . . . . . . . . . . . . . . . . . . . . . . .
�City Clerl� .
Countersigned: . . . . . . . . . . . . . . . . . . . . .
� City Coinptro ller
.
.
�
,
� r .
^ �t .
l .
" - Page 7 . 2,����0 _
"COUPO�T
No . . . . . . . . . . . . . . .�. . . �. . . . . . . . . . . . . . .
y �� I'ebruary 19. . . � (unless the
On the �irs1; day o� August '
� Bond hereiizafter meizi;ioned shall Ue suUjeci; to prior re-
dempi:ion and shall have theretofore been duly called �or
previous redemption and payiuent o� the redemption price ,
duly made or provided �or) , the City of Saint Paul,
' Minnesota pro�uises to pay to bearer . . . . . . . . . . . . . . . . . . .
Dollars (�. . . . . . . . . ) at the office of the Fiscal Agent
of the City of Saint Paul , in ei�;her Saint Paul , Niinnesota ,
or Ne�v York, New York, at the option of the holder, for
interest due� tllat day on its Urban Renewal Bond, Series
' 1�68E, dated as of Augus�; 1, 1968, No . . . . . . . . . . . . . . .
� . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
' . Mayor
Attest: . . . . . . . . . . . . . . : . . . . . . . . . . . . . '
City Clerk
Countersignecl: - . . . . . . . . . . . . . . . . . . . . . . . .
City Comptroller
and be it �
7�E'-..�.� __r �.' ... ... :.:K, ' ..� � � .. ___ .
RESOLVED FURTHER, �Tliat each said Uond sha7.l be "sealedV� �
. by the facsimile of the Official Seal of �;he City of Saint
Paul lithographed thereon and signed by the Lithographed
facsimile sigizature of the Ci�y Clerl�, and countersigned
manually by the City Comptroller , in accordance �aith Section
475 • 55 , Minnesota Statutes �.9�5 , �s amended, and �the iizterest
coupons thereto attachecl shall be executed by the lithographed _
facsimile signatures of said officers ; and be it
.
RESOLVED FURTHER, That sealed proposals Ue received
I in the office of the City Comptroller in the City Hall and
Court House Building, in the City o� Saint Paul, Miiznesota,
iat 9: 00 o ' clock A.M. (C.D.T. ) August 20, 1g6s, foi the sale
{ of all or none of said bonds , after giving due notic,e of said
sale in the manner prescribed Uy law , in the St. Paul Legal
� Ledger, the official newspaper of said City, and in tlie
Coi�mierci�.l West, a financial periodical published in the
� Si;ate o� Minnesota; that each bidder shall be required to
� accompany llis Uid by a certi�ied or cashier' s check �or
; two per ceiitum (2�) of the arnount o� Uonds bid for, �alzich
,I will be �orfeited to the City as liquidatecl damages if the
� bonds are not talceii and paicl for svlien reaay �or :delivery;
tha t the City Comptroller shall , at the next meeting after
j receiving said bicls , preseilt the same to the Council for
i;heir action thereon; and tliat said bonds shall be as�arded
' to the person of fer. ing the lozaest net interest cost to the
� City , not exceeding six per centum (�i�o) per annum; be it
1 �
� . ,
1 . . '
�
ORIGINAL 70rGTY CLERS +_ �l:��j�
, • :� CITY OF ST. PAUL COUNCIL 4� J�
^ • � � OFFICE OF THE CITY CLERK . F��E NO.
COUNCIL RESOLUTION—GENERAL FORM �
PRESENTED BY -
COMMISSIONER DATF
Page 8. . '
RESOLZ�D FURTII�R, That the proceeds from i;he issuance
aiid sale of said boncls , as received by said city, shall be
deposi�;ed in a special fui�.d of said City designated as "Urba,n
Renejaal and Development Fund, " anci therein allocated �;o aild
sub�ect i;o disbursemeni; for i;he City' s obliga�t;ion peri;inent
to said Doz�ini;oiti�n Urban Reneival Project, Mini1. R-20, Rivervieiv
Indusi;rial Pro j ec�, Min�.z. R-26, Concord •;Terrace Pro j ect, Nlinn.
R-37 , ancl Sunnnit-Universii;y Project, Minn. R-47, for the paymeiit
o� substantially one-third of the net cost o� said Rivervie�a
Industrial Project, Minn. R-26, one-third of the net cost of
� said Concord Terrace Projeci;, Niinn. R-37 , one-third of the
net cost of. said Swumit-University Project, Minn. R-47 , and
substantially one-fourth of the net cost of said Dosmtown
' Urban Re�.esval Project, Minn. R-20, as estimated, as aCoresaid,
' and �or the further payment of any Remaining Cost of Municipal
� Buildings and Improvements to be constructed within or adjacent �
to the" area of each o� said projects . That despite the allo-
, cation of bond proceed.s made in this Resolution, the same
; shall be subject to re-allocation in purpose and amount con-
; sistent saii;h Chapte� 881, Session Laws of Minnesota for 1g63,
as amendecl by Chapter 4gg, Lai,�s o� Dlinnesoi;a �or 1.g67, Regular
� Session; p,rovJ_ ded, i;hat no part of the proceeds of the issuance
?- - -�'�"and,. sale of any o:f s-aid-�-bon.cls"�sha�ll��be rsade the subject of
� any reallocation or disbursement ezcept for the purpose of the
� paymeilt or de�rayment of said City ' s obligai;ions assumecl, under
1 and by authority of said Aci;, in respeci; of oize or more of
; the several Urban Renewal Development Projects specified
therein. That said bonds shall be pay�,Ule in la�aful money
of t11e United States of America at the office of the Fiscal �
Agent of said City in either Saint Paul , Minnesota, or Nes�r
York, Nesv York, at the option of �Lhe holder, and the full . _
faith and credit of said Ci�;y hereby are irrevocably pledged
for, tlze promp�l; and faithful payment of both prin.cipal and in-
terest of said bonds .
- . A�c� 2 i���
COUNCILMEN � Adopted by the Counci] 19—
1 Yeas Nays �� � 195�
Carlson � •
i Dalglish Approved 19--
; . ..
Meredith _�n Favor , � �
" Peterson
; Mayor
; Sprafka '
A gainst
; � Tedesco
' Mr. President, Byrne �
j ' �O
� • , _
; . " . , .
,
��QA�' '
DUrLICATS TO PRINTER ��� tiy��� -
� , � CITY OF ST. PAUL FOENCIL NO.
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED 6Y
COMMISSIONER DATF
RESOLVED, By the Council of thQ City of Saint Paul,
that the Council o� the City of Saint Paul hereby estimates
that, as suoh terms are defined in Minneeota Statutes i965,
Seetion 462.545, the '�PubliQ H�development Coet" o� the
Downtown IIrban Renewal Pro�eQt Minn. R-20 ia �25,242,368,
the "Capital Prooeeds"of such pro�eat is �5, i66,544, and
the "Net Pro�eot Cost" of suoh pro3eot is �20,075,824; that
the "Publio Redevelopment Cost" of the Riverview Industrial
Pro�eat Minn. �26 is �8,510�785, the ��Capital Prooeeds" o�
suah pra�eot ie ��,568,597, the �'Net Pro�eot Cost" o� suoh
pro,jeot is �6y942,188, and the Remaining Cost ot Munioipal
Buildings and Improvements to be oonstruQted within or
'ad�aoent to the area of eaid pro�eot is �254;881; ', ; that
the "Public Redevelopment Coet" of the Conoord TerraQe
Pro�eot Minn. R-37 is �9,ii8,io3, the ��Capital Prooeeda"
of suoh pro�eQt ia �i,285,863, the "Net Pro�eot Caat" ie
�7,632,240, and the Remaining Cost of MuniQipal BuiZdings
and Improvements to be oonstructed within or ad3aoent to the
area of said pro�ect is ��25;�25.;:?; that with reapeot to
the early land aoquisition and pa rk improvemente ot the
Summit-IIniversity Pro�eat Minn. R-47� the "Publio Redevelopmellt
Coat" is �8,$�9,111� the "Capital ProQeede�" of suah pro�eot
is �1,450,000, and the '�Net Pro�eot Cost" of auoh pro�eot
i� #7,399,iii; be it
RESOLVED FIIRTHER, That pu�rtuant to the provisions of
Chapter 881, Laws of Minnesota fo r ig63, as amended' by Chapter
49g, �aws oY Minnesota for 1967, Regular Session, there ehall
be iseued and sold general obligation bonde of the �ity in
the par value amount of Two Mill�.an Six Hundred Forty-five
Thousand Dollars (�2�645�000) for the purpose of proQUring
additional �unds neoessary to pay not to egoeed one-th3.rd
(1/3) of the Net Pro�eot Cost o� eaah of the afore�iaid
pro�eQts and the Remaining Coets of Munioipal Buildings and
Improvemente to be Qonstruated ivithin or ad�aeent to the
pro�ect areae, to be denominated "City of Saint Paul IIrban
Renewal Bande, Series i968En. Of the proceede �rom the sale
o� suah bonda, there shall be allooated to the Downtawn Urban
COUNCILMEN ' Adopted by the Council 19—
Yeas Nays
Carlson
Dalglish Approver� 19__
Meredith Tn Favor •
Peterson
Sprafka Mayor
Tedesco A gainst
Mr. President, Byrne
�O
� � . , 1
� ��������
Page 2 . .
Rene�aal Project �1 , 148 , 000, �35�, 94k• shall be alloeated i;o
' the Rivervieia lndustrial Project, �745 , 05f shall be allocated
to i;he Concorcl Teriace Project , and �400, 000 shall be allo-
cated to early land acquisition aild park improveruents o�
the Summit-University Projec�;; be ii;
' RESOLV�D FURTfIER, That such bonds , authorized by said
Chapi;er 881, Session Lasas of Minnesota for 1963, as amended
by Chapter 499, Laws of Minnesoi;a for 1967 , Regular Session,
hereby provicled ai1c1 direeted to be issued ancl sold, in the
par value amount of Two Million Six Hund red• Forty-five
Thousand Dollars (�2 , 645 , 000) shall be issued and sold in
the manner required by lasa; that t11e bonds o� said issue
shall-all be�i,n the denomination of �1, 000 or �5, 000, at the
• option of the purchaser, dated August 1, 1g68, ancl bear
interest at a rate not in excess of six per centum (6%)
per annum, payable semi-annually on February 1 ancl August 1,
accorcliizg to interest coupons to be ati;ached to said bonds ;
" that said bonds shall be serial in form, an d a portion theieof
shall be payable each year commencing August 1, 1g71, but
' no�ne of said bonds shall run for a longer period than thirty
(30) years ; be it .
RESOLVED FURTHER, That said Tjvo Million Six Hundred
Forty-five Thousand Dollars (�2, 645 , 000) par value boncls to
be issued and sold for such Urban Reneival De��elopment Project
purposes and, to be denominated, as aforesaid, "City of Saint
Paul Urbaiz Renetaal Ba�.ds , Series 1968E" , shall mature serially
commencing August 1, 1971, over said thirty-year period on
the following dates �.ncl in the following amou�ts : �
Date of • .- .
Maturity Amount
August 1, 1971 � 30, 000. 00 .
August 1, 1972 30, 000, 00
. August 1, 1g73 50,000. 00
August 1, 1974 50, 000. 00
. August �., sg75 65, 000. 00 .
August 1, sg76 65 , 000. 00
August �., �-977 � 75 , 000. o0
August 1, 1978 75, 000. 00 .
. Audust �., 1g7g ?5, 000. 00
August 1, 1980 80, 000. 00 ...
Augus� 1, 1981 80, 000. 00
August 1, 1982 80, 000. 00
August �, 19s3 80, 000. 00 _
Aiigust 1, 1984 100, 000. 00
August 1, 1g85 100, 000. 00
�,
�
�
i
f ,
�
� , • ' . -
� � � � � � � �����
r ��
Page 3.
Date of Maturity Amount -
Au�ust �, 19s6 � �.00, 000. 00
August 1, 1987 . 110, 000. 00
Augusi; 1, 1988 110, 000. 00 �
Augus�; 1, ig89 125 , 000. 00
, • August 1, iggo 125, 000. 00
Augusi; 1, sggs 125 , 000. 00
Augusi; 1, i992 125 , 000. 00
August i, i993 �.30, 000. 00
August 1, igg�� 130, 000. 00 .
. . August 1, �995 130, 000.�00
Augus-� i, 1gg6 _ 130, 000. 00
August i , 1997 i35 , 000. 00
August 1,. 1998 135 , 000. 00
Toi;al �2, 645, 000. 00
be it '
RESOLVED FURTHER, That the bonds maturing on an d a�ter
August 1, �97g shall be subject to redemption by the City of
Saint ,Paul, in wlzole or.' in part, in the inverse order of their
maturities , on August 1, 1978, or on any interest payment
date thereafter, at the principal amount thereof, plus in—
tErest accrued thereon tn the date of redemption, together
with a premium expressed in a percentage of the prin.cipal
amount of bonds redeemed as shozvn belosv:
Period . Reclemption
Premium
On August 1 , 197$ to and �
including February 1, 1982 3� ._ _
On August 1, 1982 to and ,
including February 1, 1985 2-1�2�fo
On August 1, 1g85 to and
, including February 1 , 1988 2�/0
On August 1, ig88 to and
•including February �1, i991 1-1�2% •
On August 1, sggs to an.d
includiiig.. February 1, 1994 1% ,
On August 1 , igg4 to and
. .including February 1, i997 1�2 of 1�fo�� F
Thereafter No premiuin
If less than all t�he bonds of a maturity are callecl �or
redemption, the boilds so called shall be selected by lot.
Notice o� redemption shall be given by publica�i;ion of a
notice of redemp�;ion once in a daily newspaper of general
. , • � ���� ,
�;..°
� Page 4.
circulatioil, or in a daily financial paper, published in
Nesa Yorlc, New Yorlc, aazd prin��ed in the �ngl ish 7.ailguage , ancl
once in a dai ly or weelil'y periodical� published in a Minneso i;a
city of the first class , or i�;s metropolitan area, and print�d
in the English laslguage , �ahich circulates throughout �;he Sta�t;e
ancl �urnishes financi�.l nesvs as a part o� i�s serv�ce , such
notice to be publislied not less than thirty nor more than
forty.-five days prior to i;he da�;e fi�ed �or redempi;ion; be it
RESOLVED FURTHER, Tha1; said T�ao Million Six Hunclred
Forty-�ive Thousand Dollars (�2, 61i5 , 000) par value bonds to
be issued for such Urban Renewal llevelopment Project purposes
shall be in substantially the follojving �orm', which has been
prepared by the Sinking Fund Committee and approved by the
Corporai;ion Counsel of the City of Saint Paul and is hereby
approved and adopted:
"UNITED STATES OF AMERICA
STATE OF MINN�SOTA
� COUNTY OF RAMSEY '
� CITY OF SAINT PAUL
URBAN RENEZ+TAL BO ND
SERIES 1968E
No . . . . . . . . . . . . . . . . . . . . . . . . �. . . . . . . . . . . . .
't:;
� "KNOW ALL MEN BY THESE PRES�NTS, That the City of Saint
Paul , in the County of Ramsey and Stai;e of Minneso�a, ack-
no�aledges itself to otae and for value received hereby
promises to pay to Bearer the sum of . . . . . . . . . . . . . . . . . . . . . .
Dollars (�. . . . . . . . . . . . . ) on the �irst day of August, 19. . . ,
together with interest thereon from the date hereof u_�til
paid at the ra-te of . . . . . . . . . . . . . . per centum pe r annum,
payable semiannually on the first • days of February and August
in each year as evidenced by and upon the presentation and
surrender of the ailnexed interest coupons as tYiey 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 Nezv Yorlc, New York, at
the option of the holder; and for the prompt payment of
this bond, botli principal and interest , wlien due , the faith
ancl credi�; of the City of Saint Paul are irrevocably pledged.
"The bonds � of the seiies of bonds of which this bond
is one maturing on and after Augusi; 1, 197g are subject to
redemption by �;he City o� Saint Paul, in wliole ; or �in par�(: ,
in the inverse order of their maturities , on �'tugust 1,
1978, or aizy interest payment date therea:fter, at the prin-
cipal amount thereo�, plus interest accruecl thereon to the
- , _' . %�' _, ' . _ .. . ---- - ,.�:-
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. , , •
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Page 5 . �`'�
date of redemption, toget;her with a premiuni ezpressed
in a percentage of i:he principal amoiint of bonds redeeuied
as shoi�rn belo��T: �
Redemption
Period Premium
On August 1, 1978 to and 3�0
including FeUruary 1, 1g82 -
On August 1, 1982 to and 2_1�2°�0
including February 1, 1985 -
: On Augusl: �., 1985 to and � 2°�0
� including February �-, �988
On August 1 , 1g88 to and 1-1�2�fo
including, February �, �991 ,
pu August 1 , 1991 to and ��o
including February 1, 1994
On August � , 1994 to and ��2 of 1�0
. includi�g February 1, 1997 No premium
Thereafter
' If less than all the bonds of a maturity are called for
redemption, the bonds so called shall be selecubdibation
lo�t . Notice of redemption shall be given by p
of a notice of redemption once in a daily newspaper of
general circulation or in a dail_y finan.cial paper, pub-
lished in Nezv York, Nesa York , and print edei iodicalnpubsh
. language , and once in a daily or �aeekly p
lished in a Minnesota city of tlle first class , or its
metropolitan area, and printed in the English language ,
which circulates th roughout the State and furnishes
financial ne�as as a part of its service , such notice _
to be published not less than .xedrfornredemptioha11andrif
five days prior to the date fl a e11t hereof duly
such notice shall have been given and p ym
made or providdate�so fixedeforl1reclemptionl cease from
and after the
"This bond is one of a series of bonds issued and
sold by said City of Saiilt Paul , in the aggregate par
value amount of �2 ,645 , 000, aui:horized by Chapter 881,
Session Laias of Minr� sota for �.963, as amended by Chapter
499 , Laias of Min.nesota for 1g67 , Regular Session, and
a duly adop�ed resolution of the Council �he�necessary�funds
Saint Paul , �or the purpose of procuring
to pay not to exceed one-third of the net project cost
of certain Urban Renes�1a1 Development Projec�ts , within
� . . .
, . .
Page 6. . �, ����
��
the corporate limits of said Cii;y, designa�i;ecl "Doi�n.tojvn
• Urban Rene�ti�al Project A1inn. R-20, " "Riverview Industrial
Project D�inn. R-26 , " "Concorcl Terrace Project Minn. R-37 , "
ancl "Summi�L-University Projeci; Minn. R-47 , " being four
of the several Urban Renewal Development Projects mentioned
in said Chapi;er 881 , Session Lazti�s of Niinnesol;a for 1g63,
• a's a�uended by Chapter 499, Lasas of Minnesota for �967 ,
Regular Session, and for said City ' s expenditures on account
of any Remainiilg Costs of Niunicipal Buildings ana Improve-
ments to Ue consi;ructed lvithin or adjacent to the area of
said Project's . . -
"This bond is issued and sold by said City of Saint
Paul uiicler and by authority of Chapter 881, Session Lasvs
of Minnesota for 1963, as amended by Chapter 499, Laz,�s
of Min.nesota for 1967 , Regular Session, under .and by
. authority of a duly aclopted resolution o� the Council of
the Ci�;y of Sainti Paul, and in full compliance �aith said
� Chapter 881, as ameilded, said resolution, the Charter of '
the City o� Saint Paul , as appli�.ble , and Chapter 475 ,
Minnesota Statutes 1965, as amended. �
"It is hereby certified ancl recited that all things,
acts a.nd coilditions required by the Constitution and Laws
of the State � of Minnesota and the Charter of said City to
happen and be doize aild perforrued precedent to and in the
issuance of �;his bond, have happened and been done and
performed in regular. and due form and time as required
by laia and that the total indebtedness of said City,
including this bond , does not exceed any constitutional,
statutory, or charter limitation. •
"IN WITI�TESS j�TFIEREOP, The sa,id City of Saint Paul , �� �
. by its Council , has caused this bond to be sealed by
the facsimile of its Of�icial Seal , lithographed hereon
to be signed by the lithograplled facsimile signature of
• its Mayor, attested by the lithographed facsimile sig-
nature of� its City Clerk, and countersigned manually
, by its Comptroller, and each o� the ini;erest coupons
hereto attached i;o be executed by the lithographed
facsimile signatures of said officers , as of the first
day O� Auglz5t� sg68 , j'
� � .�. . . . . . . . . . . . . . . . . . . . . . . . . . . . .'.
� Mayor � -
Attest : . . . . . . . . . . . . . . . . . . . . . . . . . .
City Clerk .
Countersigned:, . . . . . . . . . . . . . . . . . .
" City Compi;ro ller
� . � '
�� � � • 1
`� Page ,��� '
, 7 ' ���•�.� �
"COUPON "
No . . . . . . . . . . . . . . . . . . �. . . . . . . . . . . . . . .
"On the firs�i; day of Febivary �9. . . � (unless i;he
August '
Bond hereinafter men�Lioned slzall Ue subject to prior re-
demption and shall have thereto�ore been duly called for
previous redemption and payment o� the redemption price
duly made or provicled �or) , i;he Ci1;y of Saint Paul ,
' Minnesot(�•promises )to pay 1;o bearer . . . . . . . . . . . . . . . . . .
Dollars , a�; the o:ffi ce of the �Fiscal Agent
of the City of Saint Paul, in either Saint Paul , Minnesota ,
or Nesa York, New York, at the option o� the holder, for
ini;erest due� tllat day on its Urban Renewal Bond , Series
- ' 1�68E, dated� as of August 1, 1968, No . . . . . . . . . . . . . . .
� . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. ' . Mayor
Attest: . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ci1;y Clerk ,
Countersigned: . . . . . . . . . . . . . . . . . . . . . . .
Cii;y Comptroller �
and be� it
RESOLVED FURTHER, That each said bond shall be sealed
by the facsimile of the Official Seal of the City of Saiiit
Paul lithographed thereon and signed by the Lithographed
facsimile signature of the City Clerk, and countersigned
manually by the City Comptroller , in accordance with Section -
475 . 55 , Minnesota Statutes ig65 , as amended, and i;he interest
� coupons thereto attached shall be executed by the lithographed _
facsimile signatures of said officers ; ancl be it
RESOLVED FURTHER, That sealed proposals be received
in the office of the City Comptroller in the City �Iall and
� Court House Building, in the City of Saint Paul , Minnesota,
I at 9: 00 o ' clock A.M. (C.D.T. ) August 20, �.968 , for i;he sale
E of all or none of said bonds , a�ter giving due not ic,e o� said
sale in the manner prescribed by law , in the S�i;. Paul Legal
Ledger, the of�icial nesvspaper of said City, and in the
Commercial West, a fiilancial periodical published in the
� State of Minnesota; that each bidder shall be required to
accompany his bid �by a certified or cashier' s checl� for
a t�vo per �centum (2�/0) of the ar�ounl; o� boncls bid for, which
� will be �orfeited to the City as liquidated damages_ if the
i bonds are not taken and paid foi sahen ready for :delivery;
� � tliat the City Comptroller slzall , at �;he neYt meeting after
receiving said bids , present the sanie to the Council for
� their action thereon; and that said Uonds shall be awarcled
' to the person o�fering the loiaest net interest cost to the
City , not e�ceeding si� per centum (6%) per annum; be it
i
�
� ' ----
DUrLICATC TO TRINTER• c� �y ,
. .. k'• • ' CITY OF ST. PAUL couNCi� �,a.��'���"
v OFFICE OF THE CITY CLERK FILE NO.
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
Page $.
RESOLVED FUF�THER� Tha� the prooeeds �rom the isauanoe
and sale of said bond�� as recseived by eaid city! eha11 be
depoeited in, a epeoial fund of �aid City d.�signated ae "IIrban
Renewal aud Deveiopment Fund, " and therein aliooated to and
eub�eQt to d�.sbur8ement �or the Cityte obligation pertinent
to said DoWntown Urban Renewal Pro�eatf Minn. R-20, Riverview
Induetrial Pro�evt� Minn. R-26, Conoord �Terraoe Pro�eat, Minn.
R-37� and Summit-University Pro,jeatyMinn. 1�-47, tor the payment
o� eubatantially one-third o� the net oost o� gaid $fverview
Yndustrial Pro�eot� Minn. &-26, one-third of the �.at Qoat of
said Conaord Terra�e Pro�eot� Minn. R�-37� one-third o� the
net ooat of said Summit-IInivergity Pro�eot, Minn. Re-47, and
gubstantia7,ly one�-fourth o� the net oost oY sa3d Downtown
IIrban Renewal Pro�eat� Minn. R-20, ae eetimated, as �ore�aid,
and �o r the Yurthe r payment of any Remaining Coet of Munioipal
Buildings and Improvementa to be oonstruoted within or ad�aoent
to �he area o� eaah of said pro�eote. That deapite the allo-
Qation of bond prooeed$ made in this Resolution, the same
sh�ll be �ub�eot �o re-allooation in purpoae and amount oon-
gistent with Chapter 881� Session Lawe o3 Minne eota �or 1963,
as amended by Chapter 499, Lawgi.�� ';Minnes�ta �or 1967, Regular
Seeeion; provl.ded� that no part ot the prooeede ot the iaeuanve
and sale o� any of said bonds shall bei:�nade the eub�eat of
any realloaati.on or di�bur�ement ezoep� tor the purpoae o� the
, payment or de�rayment ot eaid City�a obligatione aseumed, under
and by authority of said Aot, in reapeot of one or more of
the eeveral IIrban Renewal :kavelopmeut Pr•o�ea�s speoi�ied
therein. That gaid bonde ehall be payable �n ],awtul money
of �he IInited Statee oY Americ�a at the offioe o� the Figoal
Agent o� eaid City in either Saint Paul, Minnesota� or New
York� New York� at the option af the holder� and the tull
Yaith and oredit of said City hereby are irrevooably pledged
�or the prompt and �a3thtul payment of bot� prinoipal and in-
terest of said bond�.
2 L96�
COUNCILB�lEN Adopted by the Council�'v� 19—
Yeas Nays ° 1��
Carlaon p►�� �
,H� Approver� 19—_
Meredith / � f
�In Favor
Peterson �
Sprafka Mayor
A gainst
T_P.(�pCRA
Mr. President, Byrne
�O