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241473 + �_• , � , � -;,�' "' �t�.��t� � ORIOINAL TO�ITY CLHRK � �. ! ' CITY OF ST. PAUL FOENCIL NO � ,_ ' OFFICE OF THE CITY CLERK ' COU CIL RESOLUTION—GENERAL FORM , PRESENTED BY � �� COMMISSIONE �� DATF RESOLVED� By the Council of the City of Saint Paul, ' that pursuant to the provisions of Resolution of the . � Council, Council File No . 240404, and pursuant to the ' Cooperation Agreement therein referred to between the Flousing and �Redevelopment Authority of the City of Saint � Paul, Minnesota, and the City of Saint Paul, egecuted � under date of May 29, 1g6g, and further pursuant to the ; provisions of the Early Land Acquisition Agreements also � referred to in said Resolution, the Council of the City 1 of Saint Paul hereby authorizes the proper City officers � to execute , on behalf of said City, the undertaking of � the City of Saint Paul, Minnesota, incorporated in Project ; Temporary Loan Note 2, a copy of which is hereto attached, ' marked "Egh.ibit A" and is incorporated herein by reference , � subject to the following conditions : I (1) Execution of such undertaking shall be subject - � to passage by the Housing and Redevelopment Authority of l � the City of Saint Paul of a resolution. similar to the pro- , posed resolution, a copy of which is hereto attached, ' marked "Exhibit B" and incorporated herein by referen.ce, � which said Authority contemplates adoptin.g on or about the 30th day of December, 1g68. n{ "-.. "+.. � '"_s� � ::..�. ti.. _ _.�-..�.- .f-- ��.� .-�—�_�.' �. -- .— . . _ �_._ . � (2) Such undertaking shall be subject to the further ' condition that out of the proceeds received from Temporary � Loan Note 2, principal and interest of Temporary Loan Note i 1 shall first be paid therefrom. i • �0 APPRbVED � t. Corporation Co nsel � ��c 2� 1g68 � j COUNCILMEN Adopted by the Counci� 19— i Yeas Nays , Carlson �EC � 7 �'�6� � p�h pproved 19—_ { Meredith ; Favor � Peterson ' Sprafka � Mayor ' Tedesco A gainst Mr. President, BYrne DEC 2 8 � RUBLISHEi �O i . ' - ,�� j - . � :�� ' � < < ` - ' • 1 � ' r� 1 • � • . . � ` RESOLUTION AUTHORI'LI1dG T}{i� SItL�� ISSU1�t:CE 1l�ID ' . � -' �� - DELIVFRY OF P1�i�.I,IMTN��ZY L011N NU'1'FS IrJ•TH� ' --' ----� . . . •:�' =� - � A04KL7JATE PRINCTPC�, A2�t0UilT OF � �+�25i,e��0o�30 � � - THE E.`�CUTION OF FtEQUISI�rzoN AG1�1�•�r�NT NO.�� AND T'rI� F.?�CUTION APID DII,IVERY OF PROJECT - - ' �-: • ---- -� -f • . . • �- �. ' TEMPORARY LOEl2d NOTE P�O. _ 2 � IN COM�ECTIOil �•�'.t'H' = �- ' - - � PRUJECT N0. t�.;.r�, R�I�7 . - ^� c .. • _: ° �.:o _.. . j ' CC, -� ' ,. :�- ----------__- _ •: ---� . ., ._. � . . � ' Cfy . r.;� �,.�. . - .... . � ' : ,. ,. . • r - .0 �i � r'('i�;�t�� . ' , � • C ., -.. ' . . r. - ._ ` l • ^(.;. ,_ r`ti - ,— • . _. . :. . .. � ..�- 1 , WHEFtI'.A,S� �Ehe uous+_nm and Red.evela�ment Au'choz:it,y o�_i,he C;i.�i;y oz" S'c, Pau]. (herein c��.ec��he��,oc�.l Public Agency'�) has en�ered into• a con�r�c�� cl�.��d �� ' 4 of the 3c�r,a� o� Jt�ly � ��- 1� 19 68 � numbored Contrac� T1�e � P�S:i.nn, P,=�:7�a,�} (S�rh�.ch9 �oga�he3� rr-1 th dny supplemen�s �here�o or Funendrnentas nroc�.�'ics�;7 ali�: or w�.ver� of �x�y pi�v-.L�ic�n, thereof, �.s here�n c�.le� the nI,OAri e,na C#?�a�z� Gon'�s�ac�")9 tri�h fi�h9 Ui�ite�i Sta�es of �ime�e�i (herein called tho �!'aovexnn3�n�n)- pxo-Jiding, in � - � p�'i,, for a Projec� Termorary Loan by the Government to the I.ocal Public A�en�-f . under Title I of the Housing Act of 19�9, as 2.r.iended (L�2 L'.S.C. 1.la. et seq.), . in an amount ou�s�tanding a� any one time not to exceed � 7,360,76�00 to aid # , the Local Pub].ic Agency in its undex�fi,a�in� and carrying out o a. cer�ai.n i uxba.al xenetr�l pxo�ec� (here3.n c�1)..ed tho nPro�ec"�"} des�.;n�.tscl P��ec<<��,��3,a� � Noo ri�.nno R�47 anc� �rhich i� more �t�J�.y idon�ii�.oc� 3tr th�l?��ii ��,� ; � 6��^1��Contx�.ci�;.\anci� � WH�9 pursuan� to �dver�isam�nt, for ths rece'Lpt o�' p�apo�r�� for th� ptu°-� ch�se of Px•slim..�tnary Loan Notes ( Faz•s-t �� Ser3,es G ), he�e�.n sor,le�l.n3� c�1Zc�cl � �'Prelirn�,ne.ry' I,oan No'tes��, of the T.oca7. Pub].�.c �loency aog er �at�o � �,251.,0'�0.00 __� � frhi.ch .��e�a•oc� i.n,a No��.ce of S^.�.o �ubl�shed in tho �� , � ... . - � - issuo of �he� - '� - - i in the City of • • -� snc 33i 1 t e D2cer�ber 3r_dy�3_9�isstie of The Dat1.y Eond �or in�ic-�G �y o� N�e=J )'os°k9 j proposal.s for �;�a purchase of sa�d note� j.n f.he form approved b� i11a Loc�1 Yt�:o�3 c i Agency we-re received, opened, and canvaseed at the time ,and p�.ace protTiclsc� bjr sa3.U• � advert�,sernent� to �ri'�s At �+21 Z�Ta'oash�. S�xeci, _ a, ' � in tho Ci.ty of S��P�??? � �� ZQinnesot� 5?02. �,� �� -�-_..-- } one o'clock9 P�t.Tou, E� o'�To, Dee�nbe?� a.�h� - - -- �.� �.90$ � ( which proposa�s zre ns follot�rs: �� ' . �. " . ..' . . ---------------�--_----_-_-- ... _ . ,_ . � .�: • �. ._ � . . � � � • . � � � , - i . � � , . .. 1 _ . HUD-3Q80 ((11•65) � • � - r� EXHIBIT B i - - - I � � � � , . 4. � � � , � (, f ' ' � � ' � ' • � , . � Tntoro�t PrincJ.pu:L � ' Nnmo of Ulddor . � nato Amoun� P�om�.uza , - - ..� r�`sbur�3i Tda�c��cna1 Bank 308� �29��9�� 59•� � . _ .� • 3�08�� 2,25i,000 � 66,00 � ' Continenta7. I17�i.n�is Pdation�l. , Bank and Trus��c-�par.y of , � Chicago a�nd Firs�i, Bos�car_ - '_ - � Corpflr�tion 308� � $�+,251,�YJ $3].oCfJ ' Ziorgari Gua,i��.n�y Ti�tst Coo 3,8� $2�OOO,C� $5�-oQ0 i of, rr�Y� York and S�lc�an 308� l�OCO,OQJ 27,p0 ' � Bro�hers and Hutzier 3.8� 1�251,000 330� � � B�nk of Amar�ca, Pdo lo�� So �Ao ,: � . . '. ,. � . :. :� . -: . . :�.� . � .... . .. _ : ; axid;,Fixst_P�ai;:�.o��+1 C-.i.-Ly Bank 307� �4�25�-�� $L16oC0 � , � RTox�hern �s°us�c Cc��any �nd A o . I Ge Becker and Cc:np�}r, Tnca 3071,o $�,251.s� �970� � � t j � _ . . . { , . . ? ' , �a . • • ._. - , i � • WHEREASS the interes� cost at s•rhic� t,ho Loc� F�.iblic 11;:3ncy can seL� . ,' tho Pre�.iirrin�ry Lo�n Plo�e� �e �.oY�zr �han tno i.n�oxes'c rato �r3�ch tha ,C�ov�:�•�n.�noni ; ie required to chPSge the LocaJ. Public Agency undor �che tez-ms of the��,��n��'� ^ � � � - G-�:�ia'�e Contract� �nd tho Governmon� is des�rous of cooperAting iti*if�h tho I,ocal. Publ�.a i ligency in its endoAVOr to sel� said Prol3.mtriary,Lo�n Notes i.n ordor to reduco c�z��'-- i ing chr�xgos �nc� other cos�s of �he Pro�ec�o " ' , ' - . � BE IT R�,SOI,Z'ED BY ��cm,. ��:��...2��:5;��.��^y�.?.��r�L�t��.h�.:�.�',� t �,r1�' i:h A r!i d:v O�'�f.s._.�.c-�.1L�.. 'i n a$.�� ....o.��_.. `��'' r�0��'1�.�Z I . . . Soc�ion ?. The aforasa�id publica'tion of tho No�;ico of St�So 2ncl -�he� form �sld + coiitente thereo� as eo publ�shed, a2•e heroby, in �L1. �respoc�s9 approved, r��i oc� � 8nd confirmodo a � _ .... � • . . : } See�ion 2. In orcter to provide funds to dofray a.'cpenses ineurred or to be 1 incurred t � I,flczl Public Agency's �undertaking �.nd carry.;.ng ou�•of �;he Pro�ec�9 ' or t;o reti*��y re�und� roneu or extond its ou�standin� notes 3.ssued in co�noc�ion i thorew.L�h� tho Local Public Agency hereby dotormines to boY�ro« th9 sum of �oux 2�ii:l?_�.oiz 't'��ro Hundxed F:�.£��r Gne �ou�2ndAA�4uCC.�aman�m ��.�� --_� DoJ.lFSrs (f�Z�25�,�O,CO j � and iasue its negoti�.b?e Pre:l.irn.inary Ldan Notes thore�or �.n aggrogato pi�jnci p�. , arnvwi� equ�7. to e��td eum, , � ' • i • Sec�ion 3o The Loc�l. Publi.c �lgency horeby rati.fies and upproves ths for,n of � ; f.ho proposaL horoj.na�°ter in this Section 3 enunpratecl, for fi,ho purchuso o� the ! d.esigna�ed pr�ncipal �moun� of tho Preliminary Loan Note�� wh3.ch proposr�l. the i . . — 2 t ° � � HUD-3080 (11-65) ! • _ - - - , ._.. ' -•- � • _ - �. ' . �: 1 � , .: . � . i. `. - : � . - . . i � - � Loca]. Public �:�oncy horoby dotoz�n3.nee t�ri1.1. pro�c�ido tho lowo�t in'toi•oot cod� - ; and �.s {;hax'Q�U1•o heroby acoopLOCi� cuzd s�t,cl Prolir�inary Loun Ido'tos �u�e ho.roby � a�rnro.od �o ua;td puxc}la�or� ao fo]..l.oiret i � _ • . _ . : � r3'�.Tlotj��a zntey��g$ . i �'�i� Rat� • _ , � �•. a. . . a:: •._Purchne�a• ; ��257.,COOoO� 3071;� Riorthern 2'rus�L Cc�a.ny . � 1 � and �la G, Becker and Ca:a�any� Inco � � � , 50 South I�hSalle Streei, ' ' . cl�ica�o, I�.lirio:i.s 60�0; t - - ; - ' I ' f . . � . 1 . � ; . . . _ . _ i ' . � � •_ - - , � . - . � � [. . :;�; „ _. . .. - - _ _ r t . . � � , - .. .. _ • .: ,. . �-- • � . � � : � . , . � ' Seci;'!on t�e Eh�ch sucn r�o�a eh�l bo da'GOd tho Z��h d�y oi � . Janu�xy , �.9 69 3 ahat, be c�o�i�n�tecl ��PreL,.:�±n�y Z,o�n rio�•o � � • r'ax�sti S�Y'�.f�3 G .�)�'�3 ehal_t bo ��Y�.b1o9 as to both princip��7. ��. ��^,.�...�� i �'• intfla os�t,�-'co bflaror, on ttie ll�h day of . Jiil.y, � �9�3 � � t�d� pr.��u�n� �o th3 proposa7. for.tre purchase o_f said no�i,oss--�hsroinabov4----- - � ucaep�ecl��en171 ba�r the r�.'co of intares� pe� �n.rn�.m, p�Y�bZo a� ma�urity, i eha11. bea� �he nunbv�s�. bo i,.n the donor�ina�ions9 nnd bo p�V�ble as to bo'�h ; pm�.xia?pa7. �ncl� �nt�exas� at tho bar�: or trust oorrt�eny as fo�.loi�rs: � . .. . � � � ' .� Nunbo�.�s In�ores'L s I1�xc'n�or - �nc]us�va) I}�nomina�tons RR�o P�yab�.o A�c � ��...� . - N�r'�he:c�i Txus� Cc�� l 4 33 �1CrJ,G`�0 3,77 p PTo�hern Trus'c Ccmpany pai�y �nd A, Go •3�+ m �� • 50,00� �0 So LaSall.e Stre-3� B�'�w:ci• a�d Cc�.p��y� 45 b 5�+ 25�CCX}� Cha.ca5o, IL1U.noas 60603 ��0 55 � 64 l0,GC0 � � 50 S o LaSal� S�cre�� 65 d 7� . S,C40 JChica�o, �l0 60�03 75 « - - 1,� . � - _ - � ' ' . • " 3 '° � HUD-3080 (11-65) � � • " ° - . � - - . � � - � . : ' , ' � . - � , ; , . • � , � . ., • . Nono of the Prolir2�n�ry Lonn Notes shFx:Ll bo va1.�.d until after the b�u�.k or - trust cornpFU�y at �rhich it is payable sh�,l.l havo si�ned the a�reoment� appoar3nu on each such noto� to act as payin� a�ent t,hereof. Each of the ProlinilnnZ�r�- Loan Notos shaL1 be 9i�nod in the nfzrrie of the Loca1 Public A�ency by tho � Cha�r�� an of tho Local Public Agency tLnd } s�J� have th3 corporP.te seal o the Loc�7. Public Aoency impressed thez•oon �sid j � attest,ed by the Sec•r•e•csry o�":ssisi;an•� Secre•cax-,� theroof, and said. of.£i.col�a • ' are horeby authoi•3.zad and direc�ed to° cause said notes to be properly execui,Gdo ; c� : . - - � = , _ • � • . . . � • � � �- � Sec�tion- 5. Each o� the Proliminary I�aan Notes sha7.�. bo i.ssued in � substAnti.al.ly thv form of tho. note hereto ati;AChed nnd maxked Exhibit "llt�o - -.... .- --�- -- � � Section 6o The A;reemeilt entitled "Requ3.sition Agreement Na. Z � (herein caJ..led the "Requ�sition Agreemeiit�')� s�rhich has been e�:ecuted by t�io � � o�ficers of the Local Public Agency9 and has been presented to and read be�ore the meeting, ann the execution theroof� are hereby ful].y rat�fied� ' � confi.rmed, and approved. Said Requ9.sition Agreement9 when oxecuted by the � j Government9 �.s hereby dec]_ared to be and is hereby assigned by �he Loca]. i Public Agency �or the benefit of {;he holder or holders from time to tima oi � the Pi•eliminary Loan Notes, and the proceeds o� t�ie Project Tem;oorary �oa.n . E Note executel pursuant to Sec�ion 7 hereof are hereby irrevocably pledgEd ? first� to the, payment9 at maturity, of the pr:incipal of and intez•est on the � ; Pi•eliminary Loan Notes issued pursuant to this Resolu�iono f � Section 7 o The Ch�;_�_°�n � � �d � .,, . , . ,�,.,�....r.._�„ . Secr�c�-ry o� f j Ass�s'��!nz Secre'c�ry of the ocal blic gency are hereby authoriz�d : j and d�.rected to prepax•a and execute the Project Terrcporaxy Loan Note doscribed ' in the Requi.sition Agreement (the issuance of �rhich ha3 heretofore been E authori.zed by a Resolution Authorizing the 29suance of Certain Pro�ect Tempo��xy rLoan Notes 3n Connection wi.th Pro�ec� Noo p.iir�n� R��7 and �'roviding £or ! the Securi.ty for tlie Payment Thereo£, and for Othex t�.�rposes, duly ado ted. bv ' s ��21r, ,.� , the I,oc�? F'ublic Agency on the _3Zs� d.ay of cTlL�_____r��, �.9�3�), ?-�i• ��io I principzJ. ,amoun� of Fou?• bt;;L1.•�o:� '±'hi•�� Ht�r?c�_rzd Setre_Z•c� S�ve� Thous^.nd�mm��md„ + �7rooHm�eae�cnmmc�ma�r�e,mao•a Dollars � ,3'77,C�%�G`0 . Sa;.d note shall be f �esignated "Pro�EC+,, Temporary Loan Note".; shall be numbered Number __2 ; shaLl bo -dated the 1 }�h day of Ja..rtt�ry , 1.9 6g ; shall beax� interes� �ro,�, � the date of the acceptance of the Loca1 Public .�gency's dolivery �hereof and � the paymeni, therefur by the Govei�unent; shall bear a' statement at th� foo� ► theroof in subs�antiatzy the follo�:a.ng form: � � • - ' . � : -.- �� ,-� ��Delivery of �his note was nccep�ed and payment thorefor _ J ` :. ma.de on the day of , I.9• . i . ' .�_ ... •-.• . .,•• ' �'., ;l ,� • ^ , %, • �r. � . .__.�. � UNITED STAT"�S^OF A2•f"r�RIC� _ . . - _ . . '`� - + Secret2xy of Housing and Urban Developm��►�c . .' � � � ' . . •- .r .._. . - �'J It 'litle � )' p . M HUD-3080 (11-65) . • �-� "'_ �,` ' , . , . � . � � J••' . _• t • . 1 ♦ � � . _ - j ' ; . . � - � k and �h�Ll. not be vultd unt�l said statomont is duly exocutod on boh��?� o� . tho Clovornm�nto Said Pi•o�oct Tempoi•azy Lo�n Note sha1J. bo dolivorod by �C�io i � F:�nance OPficsr • of tho Loc�l� Publ�.c �.��ncy �o � . �ie ov�ornnioiit�o ��ie e1 An p� d foi• by tho Govornment j_n accoade�raca tirJ.�h t�`�e �;extins �nd cond.itions contairiod �n s�id H�uis3.�tion .�grevmeni,. � , ' Sec'c�on 8, The procoods derived from the sale of the Proljanin�ry I��wn ' Notoa� to�ethor uith such amoun� of othex appropri.ate fund� o� tho Loo�1 . . � � " Pu�.�l3.c �lgoncy � m�y be necessaxy, sha:Ll be appJ.i.ed� si»iult�noou�ly �*3.'c�i L'�a , ' recQ�p� o�' sa3.d px�ocESds� as fol�.ows: • � . � F`�.r��t To �he payment and cll.schaxge of the princip�.i. of ` � �� and in�orost on the folJ.ow�ng Pzo�oc� Tempox�ry � Loan Note�� of th� ,T��c�t l;'ubli.c A�ency ia�uod ' � P ��,�t U:•��.�r,y�,-�r�� 1 ursuant to the an �;_�_�..:..��w� ontract r�r:d he_.d � • or to be hold by the Govex�nmont for its orm ueo � � and bonefit; an the date of �ha Preli.rri�iar�► I:�an = ; • Notes herein nuthorized: � _ .. , . Pr�.nc�.p� � . No o Aate Anot��t ; e.�.�..�,.� � � - -- . 1 9/ig/68 $2,�+o7,c00000 � � � . � • _ . . . i . - 4 � - � � � ' . ; • � �� . . � . - . � . - ' Ssconda Any balance� of �uch proceeds sh�.1 be c�epositec� � ��' in the appropri�rem�J+coun�_ o�r �'und es�ab?is?i�d pursuant to the��oar. ��-b�t.�.n,�,� Contract and �h�ll ; be u:g�c�on7.�,rin accorctance h�th the prov3.sions of , the��o�a�:°�..��=�=1::5, Contract. . - t . . � ' Sect�.on 9 e mlia� F��nec O�fic�r� is heroby � authorj.zad End d3Z•ec�ted to seazd i�runediat�ly a ].e�tsr to o�ch p�.Lng ��3n� for �he Preli.m.in�y Lotzn Notes in substantially tha fonn o� the �e�t�r o� � Ins�Y•ucti.ono here�o a�tached and marked E.�chibit �'B" and to �?'2r1SliLi 1; �,i18 ± Prol�ar.:Lna�y Lo�n Zdotes to said pa;�in� agent Sor deli.vexy atid p�rn�n� :tn � : uccoa aance t�rith tho terms of said lettQY�. � � Soci.ion 10, This Resolution shatl ta.UO of�ect immedia�elyo a5 _ . 221664-P • . HUD-Wash., D. C. � HUD-3080(1i-65) ��_�t�� DUrLICATi TO TRIN7'[R ' . CITY OF ST. PAUL couNCi� NO • OFFICE OF THE CITY CLERK FILE COUNCIL RESOLUTION—GENERAL FORM PRESENTED BY COMMISSIONER �A� RESOLVED, By the Council of the City of Saint Paui, that purau�.nt to the provisions o� Reeolution of the Council., Council File No. 240404, and purauant to the • i Cooperation Agreemont therein referred to between the Housing and I�eclevelopment Authority of the City o� Saint Paul, I�iinnasota, and the City o� Saint Paul� exeouted under �ate of May 2g, ig69, and �urther pursuant to the . proviaions o� the EArly Land Aoquieition Agreements also referred to in s�.id Reeolution, the Council of the City oY Saint Paul hereby authorizes the proper City offioers to exeoute, on behalf oY said City, the undertak3ng o� the City of Saint Paul, Minneeota, inoorporated in Pro�ect Temporary Loan Note 2, a Qopy o� whieh is hereto attaehed, marked "Exhibit A'� and ia inoorporated here3n by reference, sub�eot to the following oonditione : (1) Exevution of such undertaking shal;l be sub�ect to pas�age by the Houaing and Redevelopment Authority_ of . the City of Saint Paul of a resolution similar to the pro- posed resolution, a copy o� whivh is hereto attaohed, marked ��Eghibit B�� and incorporated herein by re�erenQe, whioh said �uthority oontemplates adopting on or about the 30th day o� DeQember, 1968. (2) Suoh undertaking shall be eub�eot to the further oondition that out o� the proQeeda received from Temporary Loan Note 2, principal and intereet of Temporary Loan Note i shall �iret be paid therefrom. � COUNCILMEN Adopted by the Council 19— Yeas Nays Carlson �� Approved 19—_ Meredith � n Favor Peterson Sprafka a Mayor Tedesco A gainst Mr. President, Byrne �� I J. , • ( \ • � •: �� . : HOUSING AND R�DEV�LOF�fE1�T AUTHORITY � . ' . .. ' , ;� - ' ' __ OF ZftE CITY OF SA7NT �LS MTNNi'SOTA �r :r . � , � . . • PROJECT TEi•fYORARY LOAIv NOTE (ESCROt��) ; � . �. ho�o +��. 2 .. Pro,�eot h'o, �Minn. R-47 # #_ 4,37�,000�(�.� FI � - - - • ' Housing and �edevelapment Authority of the City of Saint Paul, riinneso�ta � i (nere=r: ca_led t!:� "Gacel R�blic �;cacy" , fo: val�e reoeivod, horaby pronisos to pqy, but so el,� �cn tno �� .o,Joct k iempa:z..�3• L:,�n R�p:ymant xlmd.hcroir.af�or montionod end not other�,�so, upon domand, to tho [lnitod Sta�os of R,�oricu t or or�a��, �h� sum o� Four Million 7.`hree Hundred Sevent - S�ven 1^housand-��________em.._so_____ � DOI;�ARS ($�( �3�7- , and ot suoh tima to p�}r� but solo�y iZ-om said "el�ri and not ot.or,�so, in�e.as� on s�id sw-�, ira` � tr.� dato of t a aaaeptanoe of dolivory of nnd tho payraent for thia Noto, at tho rate or rateo as follo�s: ' . ' , , . . , F4�a7 �hc af�cr tho deto of aco��`,.anoo of delivery ot and pt�yment for this Note tProu;h tho noxt • ic:�ediate� succoodir� Jun� 30 0: L�iconbor 31, as tho assa mcEy bo, tho rato shall not ex000d si:. poroont (6;�) par cnnwa, but o�har�isa shqll be tho hi.ghor of: . . ' ' ' ' (a) 1::0 "going Fodoral ra�e" do�onninad pure�nt to tho pravisions of Titlo I of tho Housin�, Aot of � , 1949� as a�ended, which is in effect on the date dalivory of this Noto is aoaoptod artsi p�ynent � � mado thoraforj or , • . ' (b) A :ate por annk-n equal to the averago yiold to maturity on all outstandir� obligation� of tha � U:iitod S�„atos ha,vin; a ^�at�.u�ity of appro�.inate]y fivo yeers fT�om the May 1 or hov�mber 1, as tY�s casa �r,:� h3, ns�c't p:acoding tno dato delivery of this Note is aoaopted and payrnont maco therofo;•, es dater,nir.ad by the Socretary o; Housing and �-ban IIevelopment upon the advioo of tha Sacreta.y � of tF^w 4raastu-�,/, such ave:a�;e yield to be estimated on tl�e basis oi daiJy closiriy nerlcet bid quo�ations or p:ices for tno month of I',qy or Novomber� as the oase m�y bo, next pracedin� tho data . delivary ot tnis Note is aooeptod and pqyment made thorefor� and adJusted to tho nearest 1/8 of I peraon�. • . F:on and ettc: tr.e J�nuary I or Ju�/ 1, as the caso m�}r be, next suaceoding tha dato of aucsptanoo of ' delivorv of end p�ynent for :his Yote, the prinaipal sun shall bear interost on tho wuepuld prinoipal air,o�t ti:oraof at a redotormined rato (to bo duly notod belox on bo}ulf of tho United Statos of Amurica), � xhich s'nnll bo initially dotcrminod and beoome effoctivo on said J�nuazy 1 or JuJ,y 1, as tho caso mqy be, �nd shall ba suoc�ssivoJy rodoter:�ined at b-month intervals thoroafter on Jnnuar^/ 1 and Ju� 2 of oaoh ' qe�..�; and e�oh suoh redoternined rato shall baoome offeotivo, frith rospoct to poJmonta un;opaid on tk:a � de�a irr�odicze]y prea�dir� tha effeotiva dato of such redoterminod i•ate, in aacordanao vrith tho follos,�ir� fo:r.iuis: ihe redatarninod rata shall not exceed six percent (6;6) por annun, but otA.arxis� shall bo ttu3 higne: of: . • . " ' • �a) iaa "go3n� Fadoral rate" dat�rn:inod pursu2nt to the provisions of Ti�lo I of th� Housing Ant of ' ' 1949, as aT�n�ed� and effoctiva on the effectivn da�e of such redotermin�d rato; or � + (b) A r�t� per F.nn�.,-i eq�3 to tha awra�e yield to maturity on all otts�.nndin� obli�ations of ths � Lf:iited S;K.tes having a naturity of app,-oxiir,�sto7y five yo�..a fron t�3 i'�:y 1 or Nwembe: 1, as the caso r:;,r bet n�zt o:ec�31n; the offectiv� date of suoh n do�ermined rato, as do�ernined by the ' Secret��-y oi Housing a.zd Urban DoveloF�ent uoon the advioo of tho Sscretary of ths i�a�sw�y, • svah zvora.�a yield �o be estir.�ated on the basis o: da2Jy closing �s;rket bid Suo-t�tions or p.-ices for the monsh of I"�y o. tdovember as tha erzse n�y be, next precoding the offeotivo dnte of such � , rado�te.minod .ato, �red ad�ustod -�o tho nearest 1/8 of 1 peroent. . Bo h na p--ino ipal oT cnd interas� on thia Note ara p�,yable at the prinaipa2 oftioo of tho Local ?ublia :•.eno;� i:. ��8�nt paul� Minnesota , in arpr aain or ourronm� of tna L.'-iite� St��os q� .,r,�arioe :,:iac:i, or. zr.� aa�o ot t .e pa,ynan o � pr no pa o an erost on tnis Nete, is leg� ta_ncier��.tha. .�.VIICYS:J�I� ��S�S_�..w_�.1_...- ' _ � { Si � � I ±� ` l . � I r , . � . ` . , t , , ;i ;� - ;� � . _� Undertakin� of the City of Saint Paul. Minnesota } As addit�onal security for the payment of principal of �and intereat on , � this Note �tnd all other �lotes which are issued in accordance with L-he � ; terms of said I�ote, the City of Saint Paul, -riinnesota, for good and � ! "'�-"' valuabl� c�ns�deration hereby agrees to pay srzid principal and ineerest � � in the event : the funds on deposit to the credit af the Project ' � Temp�Yary Loan Repayment Fund, referred to in said NoCe, are inaufficien� to pay the same �ahen due and th� City af Saint Paul, Minnesota hereby � pledges itB full faith and credit for such payuien�. This underCaking is made in accordance ��i�h and pursuant to the provisions of Section 305 of the Temporary Loan ConCracc (Early Land Acquisifiion) dated July 20, 1968 bet-��een the Housin� and Redevelop�ent Authority of ths City of Saint Paul, Minnesota and the United States oi Ame•rica, id�entified , as Contract No. Minn. R-47(TL) for Project Minn. R-47. � � CI7.'Y OF SAINT PAUL, NffNNESOTA ii By � � Mayor � - l - � 1 ► By � Clerlc. (SEAL) �.. t � R ' ` ' - ; Countersigned � ' • ; � By . . �� Controller [ .. , . , ' ; { , • • ,f- � /,,y . . I . . � � t ` 1, •• . . . . � • , , r� . � � RESOLUTION AUTf{ORI'LIPiG Tf{� S1lL�, ISSU�2dCE 11�1D � � ��. � . DELIVFRY OI' PR�LI1-f�NARY LOIIN NU1'FS IrI•T�i� � -"' �-.� • •- . •=�= ' ' . • • A(}(3HI7GA7.'E Pr�NCIP/'�, Ai•tOUi�T OF � �+,251,CJOo�O � . , THE E.`�;CUTION oF Fi�UISITIOTI AGHLLt�1��N�P NO�, � AND TtIE EXECUTION <<ND DII,IVERX OF PROJECT =� �� ' -� • �- -� = � - ��- --� � TEMPORARY LOAPd NOTE PZO. 2 � IN CONNECTIOPl �•�1`EI' = K ' - ' PRUJECT N0. t�;.r.n, R��+7 _ � ^� c � . _' � ��o :.:. . • -' � c� .�._ . - •- . - � : : �... , ., ._� j �r�. � , rr�``r`-`;` ^ ;-- .....C: y_ • : „ ., .r f . . CC f .�L� = r'"� . � �. � � , � '__ . ;. . ' ' _ � ;��- f ' ' ' � Srl'riF.�tL�'�AS� �he ?'ous��n�; and Redevel��men� Author.it�r o�'_�he C;i.��v oz" S•i;, Fau]_ f (harein ca�lod the �'�oc�.l Public A�ency'� has entered in�o• a con�x�c�• cln��d �.s� � t of the 3c��a� of Jt�.tSr�� 19 68 � numbered Contrac� TJoo P�:�nn,P�!�7_�.�'��,} � (S�rh�.eh9 tnga�hes• Yrith Fuiy supplements there�o or �unonclnsn�� r�:octif�.c�c��on��or � w�.vers of �x�y prov3.�ions thereo�', is here�n c�.11c�.1 the nLoAn e,�-�c� C#��,~�� Con�ruci,"}p � �rith t.he Ui�.tcd Statss of �imeri.c�i (herei.n called tho "(�overr�n3�ntn)- pro�iding, in ' � p�, for a Projec� Terroorary Loan by the Government to the Local Public A�en�r � . under Title I of the Housing pct of 19�.9, as ar.►ended (I�2 U.S.C. 1�.50 et seq.), . in an amount outs�tandin� at any one time not to exceed � 7,36a,76�o00 to aid , the Local Public A�ency in its underta�in� and carrying out o a cer�`�i,ain wrbuz xenet��. pxo�ec't (heraisi cP1�ed tho "Pro�ec-�t�) dest;n�t6d F'��ec�� . No� rilnn o R�47 and which is ma�•e �u]1y ide.�-��i.��.od 3 tz� �1�-al�n�xi°i`'i,.� ��.�si��Cont,x�.cti; , ancl ---- � WHFRF.AS9 pursuan� to �civer'tisament. fox the receipt oS pxoposr�.s fbx th� pux°�-- chase of Pi�o�.im3_nary Loax� No�es ( F�.z•st Series G• ), he�e�.n 9�R16�;'I.TiI�� ca�3.�c1 �Prelirr�.nary Loan No�es"� of the Local Public�oencY aog er gatino � Z�,251.,4^�'Jo00 _� Which �ppe��od in a No�3.ce o� Sa1.o publ�.shed in tho � � _�, -� ' � � � � issu� of �he� - � � � in �he Ci�y of • • - '�-�i�nc�i3i t�ie D�ce�ber 3rd�_?.90 �.ssue .of The Daily Eo;� ��1�,y or in tahc G�i�y oi N�=J �'oi k9 � proposal.�f'or the purchase of s aid iiote� 3 n tho �orm approved �Sy t.}la I�oc�1. k�w?�c Ageiicy wa•re received, opened, and canvasaed at the time ,and p�ace pro�.r�cls� by sai.c�• � advex�isemen�9 to xi'�i.9 At 421 t,;r�basha. S�ree�_ _ _ _ ,�,�,,, • ' in tho City of S•c�Pa�,� - � --- M3.nneso�� 5��02. , P� une _ otcaock9 p�t�� E,�, . o, Decembe� J.�tih - - ----- --�.�.m� �-968 9 �ini.ch proposa�s aro ns follows: � . � . . . . ..' � . --------------�---_---____ •� .. . �_ . ��. _��.. � _ _ _ � � � . . . HUD-3080 ((11-65) . � EXHIBIT B � • • . - � , . . , � 1 - ' (• ,'�r � , • + ' f � f F . � . I � . , . Intoro�t PrincJ.p al � N�mo o.f B:lctdor . Ruto � Amoun� Prom�.um }�..':�.sbur�h Na��anal B�3k 308�°!� $29000�OJ{J 59.00 � . .� �3�0 8g�� 2,25i,oa� � 66,0�, ' Con�:inen-ca7. I71a_nois Id�,tiona.7. � 1 Bank and �rus'z�Cnsp�ny of '1 , � Chica�o a.nd Fa.rs•� Bos'c�r_ •, _ : , i Corport�ticn 308 n $1�,251,00� $31,C}J : t ' � , � tiorgari Guw'r��n�y Trus� Cao 3o83n . �$2�04�s�� $5lEo0� ; � of P1Err York and S�l.aa:an 3.8� 1,0:�,04'J 270� Brothe�•s and Hu�zler 3.83�N 1,251,000 33a� � � �3ank oi' �Lm�rica� PZ, lo..R So Ao .. � . , -- �� -�� - . � :".� . , • :.. . .. _ :. � ax�d;.Fa.zs��_I��ac:�o-��.l C-i.ty B�.ik 307� , ��251�� $]16oCa A�ox�hern l;.�us�c Cc��any and A, • - � ` Go Becker and Cc:zip�"�'l, Ync, 307:►.� $��,251,0� $97000 � � . . � ° � � .nnd ' '' . • , � - - �• I 4IliERE.ASy the interest cost a� s•rnzci� tho LocAl �iblic �g�ncy can seL� . •- .—..�ho=Prelirrd�-�a�y Lo`n P�o�e� �s ]:o:�rer �th�t�-the �.n�oxc�s'c r�.to w1�3cli f.he ,C�ov�z°n��onU is required to chPrge the Loc21 Public Agoncy t�ndor the tez� of tha��o�cr�y��?'� � � ; �:=:�:�b Contract� �nd the Governmon� is de�i�ous of cooperAting Z:dth �ho Loc�.1. I'�.tbl�.a f dgency in its endeA�or to sel� ��d Pro].tmin�xy.Lo�n Notes �.n ordor to roduce c�rxya 1 ' ing ch�r�es �nd o�her cos�s o� �he Pro�octa � � ' � � ` � . --BE IT R�SOL�'FD DY ��m-t��p��j�.¢��i��?L P n�,�.� " � ��:�h�.�?'�.f�t � �_�'�1€.'..!'•. s.v p�-i;�P�i�l i a�q�.=1 ' .�.._.,._....�.��1'�1.�T�0?-1�.�5 , -- \ . � Socfi�ion '!, Tha afor�sa�.d publication of the No�ico o� Sc�.t� anfl t�he� �ozm �aid • : � Contents thereo� as ao publ�shad� ai•e heroby� in �11 respoc��9 app�oved� r�t,i.�'i od ' _8nc1 con.fis•m.odo 4 f �_ . _.. " ., ' ' • ' • , Seetion 2. In orcler to provide funds to dofray a,,cpenses ineurred or �o ba incurre�in t�'io Loc�1. Publi.c A;enc�'s �under��d.ng a.nd c�rry.;_n� ou�•of the Pro�ec�9 ^ ' � o� f�o Y'6'��?^r�y refund, ronex or extond its ou�standing notes i.ssue� in co�noc�ion ' � �hoz•e5�rl�h, t,ho Loeal Py.�.bli.c A;ency hereby cio�ormi nes to borrot� the srzm of �oux tdi.l?�.oti ' i ��ro fIunc7��d F�f`�;,r Gne 7."_^_O11�1�TIC�.�A�4�Ga�m�aL�:�=�=..�...,:._� Do�l�rs (f��,25?_,C`l„O,CO�� ` � and issue i-ts negotia�?e Yr�.l.i.miziary I�o�n Notes thoro.for �n Aggroga�;o princ�p�J.. '; { ' araoun� �u�1. to s�i.d eum, ? � �Section 3. The Loc�l Public Agency horeby ratifies and �pprovos tha for,� of t,ho proposal. heroinuter in this Sacti4n 3 enuns�rated, f.or tho puxch4so o� the � d.esigna�ed principsl E.moun� of tho Prelimi.nary Loan Notes� �rhich propos�:J. tho � ; � ^ 2 � . , HUD-3080 (11-65) . . � . • .. ' _ , . � . '� � . . . y �' . LocFil. F'ubl�.o 1�s�ancy heroby dotoz�ninae YriJ.�. pxo-��.do the �oj�rv�t �ntoroat coet . and i.o thoz�o.£a�•o ho�oby acoopf;ocl� tuid saict Prol.iminaxy Loun t�otos aa.•e hoxoby A��z'o.od t;o ua:l.d puz•clia�or� � folloLres • I . I'x3.ncj.p� Intoz�os� . �_1llOL31`L RB.t9 . , . : .. " _. . . -+:: •._Pll�'C}'lt�gOZ• .,.�,. ..._...._...,..�... ' ��25�-,��oG� 3071;� Nortjzern Trust Cc��pa_ny ` t � and Aa Go Becker a!1d Ca:a�Gny, Inc, ; G , . 50 Sou�Lh LhSa11e S�ree-L• ' ; } Chaca.�o, Zllino:i_s 60�03 � � ' . ; E . � � • • { . • . } . ; � ' � - , . - . . � . .. . -, ,:� _. . .. � � : ..._ . . � , . ` . . . .� _ ,. ,. . _. i � - • _ ' ' Sec�ion �S. E.^.ch sucn no�o eh�l be d.a'cod tho ��h d�y oi ' . J�.ntia��}y , a 9 6g; a�iaL bo do�ign�'cecl "FreL:�� n�uy I,oan No�o , --9�.�.m��-�,� � � , ��-'�� Sob�c`� G . )�'.; aha].]_ bo �ay�blo9 as to both px�.ncipz�.]. ata�. ' .";' intores•i,�-�o bo�ror9 on th9 11�h day of Jii1: , �9�c�,; ; �uzd9 pLtt�nu�an� �o tha proposa_ for•the purchase o�s�cl no�os�9--�hsro3.nabov-a---- - . n.ccep�ocly�' �h�11 baar tho ra�CO of in{;orest pe� 2s�rn.im, p�yGb�o a� ma�urtty, , ah�. be�� he nw�nbo��, bo i.n tho dc�norn�n�"�ions� nnd.bo p�V�ble as �o bo�h � • prZ.no'.!p�. �nd �n�ex�as� at fi�hfl bznk or trus� vorr.;�eny �s fo1lo��rs: � r ! Nunba��s In�oi•es� '; ` I-l�s��a�o� - Iz�clus�.v�) D�nomina�ions Ra�o P�yablo g-�c ; 1 Nvr�hex��T�us�Cc��, 1•4 33 $1CrJ Cw0 � ? , � � , 3,71�, r o�he-rn Trus c Gc*�pany . ; p�ny nx�.d A, Go 34 m �1+ 50,OC� 50 So La�Sa11e Stre�� Be�::r,.e:i• anct Cc�pa�y� 45 b 5� 25,�� ChicaSo, ILl.a.nois 60603 : � xnco 55 � 6� 1o,coo , 50 S o LaSat�r S�cre�� 65 � 7� . 5,C00 , � Chicago, 711, 60003 75 ° _ 1,400 � � � i � � � � . i � . " 3 "' , HUD•3080 (11-65) .' " � � • � - - . .ti . . i ` - , ' ' � ` - �� ' � . � ° � . - 1 , � ~ _ . � . � I � � � . . , . ` � Nonv of tha Prolirri�n�ry Lo�n Notes shfil.l bo val.i.d until after the bank or , , - ; ` trus� cornpFU�y at which �.t is payablo sh�.l.l havo si�ned the a�reoment� appo�u^j�; ! i on oach such noto, to act as paying agent theroof. Each of the Prelir�.Lnary , ; � Loan Notos shaLL be signod in the no�rrie of the LocaL Public Agency by the Chair�n • ` ;.,._ of tho Local Public 1!gency t�nd ' , s�i'�al)_, havo th3 corpore.to se�. o ttie Local. Publ�c Aoency impressed theroon �sid � � attest,ed by �he��crc�9ry o:=sssxstan-i; Seci e�c�-,� thereof, and sajd. o�'f'�cqL o aro horeby �uthorj.zed and direcLed to cause sa�.cl notes to be properly e�ocu"�odo , f �� . .. . . . : , .� . _ . � � •�� -- � Soct�on 5. • Each o�' the Prel�.minary Laan Notes sh�a7.1 bo iasued in _ , , subs�an�i.ally tho_�'orm of the. note hereto attached anc! max�ked Exhibi� nll"o : 1 -� - --�- -- -- � . --. .. ; � Sect3.on 6, The �'.�reement entitled "Requi.sition 1►greement Na. Z �z (herein ca.�led the '�Requi9ition Agz�eement")� which has been executed by t� ' � of��.cors of the Local Public Agency, and has been presented to and read bo�ore the meeting, and the execution theroaf, Are hereby fully rati.�ied9 . coni'ixmed, and approved. Said Requ�.�ition Agreement9 when executed by th6 • Governmen�E, i� hereby dec�_ared to be and is hereby ass�.gned by the �,ocu]. � � Public A;ency for the benefit o�' the holder or,ho7.ders from time to tima os the Prelimi.nary Lo2si Notes, and the px.oceeds o� tkie Project Temnorary �o2.az � ' Note executel pursuant to Section 7 hereof axe heroby irrevocably,pledged � first, to the, p�r►ent, at maturity, of tha princ3.pa1. of ancl intErest on the � Preliminary Loan Notes� issued pursuant to this Resolutiono �. Section 7, The C�l�,�;��n.an • � ��_ � and. Secr..�a.,x� o� Ass�.s�c�n�Secrec�ry � of the ocal blic gency are hereby author3,zod '; and directed to prepare and execute the Project Temporaxy Loan No�e doscribecl � in the Requisition Ag?�eenent (the issuance of �rhich has heretofore been � authori.zed by a Resolut�on Authorizing the Issuance of Certau.n Pro�ect Tempor��sy ! Loan Notes i,n Connection with Pro3ect No. p•i-�nn� RdtE� and Providing �or ! the Secur:L�y for the Payment Thereof, arid for Other F�rposes, duly adop�ted bv thQ l.,oc�t R.iblic A enc on the �'- ' �'Il`Z';'�. ` � g Y �3�s� day of Jt�.l,y„_.______.�_� �9�$,�)� ��i tir�o i princip�J. ,amoun� of Fou..r hi�.11-?o:� `�'h.,�ea Hunc�rzd Set�en�cy S�vE� ?'hous^ndmmm�p�� , � ... �y�a .�.__.._..._(��//��, �+{.� �1 ptlC7MC�'JGC�Ci1NmVCiCIGObpO•� DO�1C4.V � �'�'I'1 )`IVVp��: Sai.d note �]llr•.� �e 1 �esi gnated "Pro�ec� Ter�poxary Loan Note".; shall be numbered Number 2 ; shat�. � bo dated the �- ��h day of J�lta,ry , �.9 6g ; shall beax interes� fro,� � � the clate of the accep�ance of the Local Public .�gency's dolivery the_reof �ncl , � the p�ymen�t therei or by the Government;� sha].1 beax a statement At th� foo� . ; theroof it3 subs�an tiatly the follo�r.�ng forms � �� : -. �� ,-• ��Delivery of �his note �ras Accept�ed and payment therefor _ . . . • ,� �., , macie on the day of - 19 � `"., ` . . . I :_ " � .__ .:.- : ., : r, _ � . ' _ � ,r • -� - � . ., �,. . . ;- � i - UNITED STATES^OF AMERICA ' •- - � �f Secreta.xy of Housing and Urban Developmen�.� ,: � ' , .J f , . _ • - c' -• il . gy � . � � . � �� _ 'litle ' s • � � � � • HUD-3080 (11-65) { ' . . • , , � � _..•- F • • � � • � : � • ' �• ' � ' . • � . ; � ' • ✓ , • • .' ( • . { . " � } and sh�l not be vrltd until said statomont is du].y executod on boh�� o� � + . tho Oovvrnm�n�o Said Pi•o�oct 'remporary Lo�n Noto shall bo do].�.vorad by �C�io F:�n�tnce O�ficex o� tho I,oc�l Pub��.c �i��ncy �o ; � . �ie l3ovox7uiioiit�'o �iQ e1d an p d ioi• by tho Govornment ix� accorde�rae� �r3.fh ; � �`�c� �erms and conditions contai.nod �n said Requ3.e3.�tion .�greomen�. � � - Soc�C�.on 8e� The pr�coods derived �rom the s�te of the Fro:l�.mi_n�a�y I.,o�,n � 4 No�o�� to�e�hor with such Funount of o{;her �zppropi•i.ate fund� o� tho Loo€�1 . � Pub].�c �.�oncy � m�v be necessazy, sha:11 •be app]_ied, simult�nooua�y �*�.'ch ic�3 recQ�.p� o� sai,d pz�oceeds� as fo1�.oVrs: , t FYr��t 1'o the pPyment and discharge of the p:cincip�7. of , � And interost on the �o1l.owing Pzo�oct Tanpor�ry . Loan Note� of th��Iiq�a;�. �ubl3.c Jldency ioe�±oc� . � ' pursuant to the�L�o�Z �..i��:.�:;�Contz•act ar.d ho?d or to be held by the Go•vernment fox its o�m' uoo . � and bene.fi� on-the date of the Preli.rr�.ii�ry I�o�.n ; . • Notes herein aut�orizede - - ' 1 ; - . 1 � " � ' • � Pi-�.ncipaJ. ; + . No. Date Anot�►� � . ; _ .. �i 9/ig/68 � $2,�o7,c00000 � ; �. . ` , _ � . � � ,. t - - � �; . _ ,- M � . � � � - - . � � . t . � . , ` - . , . - � ; . . . , �. . � . - . j . I - . ' � ^ - l � .i Secor_da Ar�y bal.�nce of such proceeds sh1.1 be ae�os__tec? � ', ' in the appropriz+aGmU�coU�t or �ti.nd �s�ab?is?ieci � pursuant to tho��,oan a��,�t.�a�b;Contrac-� anci sh�la. � l be u;g�,c�pnl in accordance wJ th the provisi.on� og i - thel�o�a��-'.�.?�.�s��y Contxact, - - '. i Thg� Fin�.nce Oix"�cer � �.o hereb � h . .Sect�on 9. Y author9.zed aricS c�i.ree�ed to serid 3�runediat�ly a le�ter to each pF�-�,n� a;;�n� ` for the Prel�n�� Loan Notes in substantially ths for.�n a� the Tae�t�r ob � Inst�ruc�iono here'�o a'ttached anc� marked Exhibit ��B?� and to transm�� tii� - Pro13�n.:Ln�y Lo�n i�otes to said payin� agent for delivexy and p�men� '.�.n � � � j accordance Z•rith tho terms o£ said lett�r. � j ,�f Soc�ion 1.Oo This Resolution shatl ta?:o o£�act immed3.A�e],Y. � - � - . . , s' , . � 45 _ . � � 221664-P • . HUD-Wash., D. C. HUD-3080 (1 i-65) �. .. _ .� ' i . � � . . � -� � A i� • , ' �lOUSiP1G �hD P.�DEVELOP�tifENT ALITHORITY ' �E • ' ' OF Zii� CITX OF S$,I PA j��a M7�j��r�_, ' ' i�� , r T ' . PROJE�T TEt•tPOR�RY LOAA NOTE (ESCROL�I) \' � 1 . ' , Ko�o ;;�. 2 ' . . ' . Pro,�cot h'o. �Mittn. R-47 - #_ 4,, 77,OOQ.00 ; . _.. . Housing and Redevelopment Authority of the City of Saint Paul, Minnesota � (nores: ca_led t!:� "Locel Public �;enoy" , fo: val�o receivod, horaby pronisos to pe,y, but so e];� ;Z-o-7 tno P:o�oct F� ie�po:•z�y Lacn R�pYymen� xlmd.heroir.aftor montioned and not othor��so, upon domand, to tho Unitod Statos of �.�ericu !; or orfla:�, �h� �um o� Four Million Three Hundred Sevent Seven Thousand----_�-_______o_e___o__ D�LT��S ($�[ �J�,Q� , a.nd at cuoh tima �o �a,y, but sole�y iZ-om saici �d anc! aot ot::or�,.�so, in�e:ast oa s�id s+aa, iro� tY�a dato of t.s acaeptanoe of dolivory of and tho payment for thia Noto, at the rato or ratea.e.s . follo�5: ' . ' . . � • , ' F:a� e.7c �;�er tho dcto of acoop`„aitoo of dolivory o; and pc�yment for this Note trro�h tho noxt • ic�ediute7;f succoodir� hme 30 0: ihioombor�31, as tho aase mc�y bo, tho ra�o st�ll not ox000d si:: poroent • (6;�) por cnnun, but oth�rKZSa st�ll be tno hi.ghor of: . ' ' (a) T::o "goir� F�dnrai ra�o" doto:�ninod pureu�nt to tho proviaions of Title I of tho Fiousin�, Aot of , , 1949, as amended, Ri�ich is in effoct on the date delivory of this Noto is aoceptod �I pr;,�nent mado tharefor; or • • , , � " (b) A rate por annk-i equal �o the avarago yiold to maturity on all outstandir� obli.ga�ions of tha � � , iJ:�itod S'„atos havir�; s. :aatimity of approainately five yeers fY�om the M�y 1 or Tovemb�r 1, as tbe �� cas� n;J ba, ns:ct pracoding tno date delivery of tnis No;,e is aaoopted and p��ron� m�o t}�.rofo�•, c es daternir.ad by the Sacretary o: Housinp and Urban Development upon the advioo of tha Sacrt:ta.y ;� � � of ths 'IY�aasut^,�, such a�rera.�e yield to be estimated on tYie basis of daiJy closing narket bid . quotations o: p:ices for tn� month of M�y or Novamber, as the or�.se m� bo, next precedir� the data i.� ' delivary of this Note is aoceptod and pqyraent made thorefor� and ad,justed to tho nearest ].�S of ' I percont. � � - . • . , . � '. FZ�om and af�cr t}:a J�nuary 1 or July 1, as the caso m�y be, next sunceoding tha dAto of aaceptanaa of ' � delivorv of and p�yynent for this Note, the nrincipal sun shcill bear interest on tho imrop0.ld prinaipal ' rur,ount ti;o.-aof at s redo�erminad rato (to bo du�y noted belott on bohzlf of the-Unitad Statou of �marica)� �i xhich snall b� initially doterminod end beoome effootivo on said January 1 or Ju�y 1� es tho caso mqy be, ' � �nd shall be suacossivoly rodot�rr�inod at 6-month intarvals thoroafter on Jcuivar^/ 1 and Jul;� 1 of euch � ' qaAr; End e�.ah saoh redote:minod rate shall baoome effeativo, rrith rospoct to paymonta un:epaid on :ho , da�e ir,TOdiczely preoodir� tho effeativa dato of such redoterminod rate� in accordnnco with tho fol.lo��ir� � fo:r.�uls: ihe redotarninad rata shall not excoed six percent (6;6) por_ annum, but otP.arxise shall bo ths i ' highor of: • r • ;� : ' " �a) cr:e "goit�,3 Faderal ra-�e" det�rn:ined pursu2nt to -Cho provisions of Ti�lo I of th� Housing Aa� ot ' , 1949, as aT�nded, and c:foetivo on tho effectivn da�e of such redntermin�d rato; or � (b) A rat� per enn�.i eG�7. to tha �voraso yield to maturity on all outst�ndiny obli�ations of ths � ttnited S„ates h:vir� e nat�ity of upp.oximate]y five yos.ra fron ths i�y 1 or NweTber l, Es the , ewso r:y beL ner.t o:aceding the offectiv� date of suon n do�ermined rPto, cs dotarnir.ed by the � ' Secra�-�:ry oi Housing z-�d Urban Davelo��ent upon the udvioe of tho Sscretary of th� 7:assL;,-y, ; • suoh averay;a yield �o be estir.iated on tne basis o; daily closir� c�z�l;et bid yuo��ions or rices for the month of if� o. ttovomber as tha case nay be next precoding the effootivo dnte of?sucti � i Kdo�tcrininod .-ata, �nd ad�ustod -�o tho noarest 1/8 0� 1 paroent. • f Bo n e g••inoipal of cnd interas� on thia Note are �8�`nt paul Minneso�a PaY�lo at tho prinoipal offioo of tho Local ?ublia ,L:.eno�r i:� , �__�___ o , in ar� aoin or ourroncy of tno �ite3 St:.�es ; o: :.r.ierice ��:ti�cn, or. ti'r.s ce�e ot ti e p�ynant o pr no pa o an erost on tnis Nete, is legal tander for tha ' p:ylpEn� of publio e.r:d �,ivzt� dobts. 4 ` , � ' li/i i @ � �i �' , � . , r- � � � . . Undertakin� of the City 6f Sa�nt Paul�Minnesota � As add�tional security for the payment of principal of and interest on this Note and all other Notes which are issued in accordance �aith the terms of said Note, the City of Saint Paul= Minnesota, for good and ' � "'V -� valuable c�nsiderAtion hereby agrees to pay said principal and in�erest , ! in the event� the funds on deposit to the credit of the Pro�ect � Temporary Loan Repayment Fund, referred to in said Note, are in�nfficient to pay the sam� ��hen due �nd the City af Saint Paul, Minnesota hereby ` pledges iC� full faitli and credit for such payment. This undertaking - is made in accordance �aith and purauant to• the provieions of Section 305 0£ the Tempornry Loan Contraci: (Early Land AcquisiCion) dated , July 20, 1968 between the Hou3in� and Redevelopment Authority of the � City of Saint Paul, Minnesota And the United States of America., identified , as Contract No. Minn. R-4�7(TL) for Pro�ec t �1inn. R-47. • CITY QF SAINT PACTL, I�INP�SOTA ; , gy , Mayor � � By ' C1erk ; � � (SEAL) ' Countersigned � , ; � By � � ;11 Controller 1 rr t i � r � 1 � k Ie i � ` - , r E � � � } � ' ' , . - ��' ' " - ' . 1 .+ . . 4 , ', .t3 . - . � , = • • , � . � . - . k � � . . RFSO�,UTION AU'I'HOIZIZING 1'tiL S1�L�� ZSSU1�dC� II�1D ^ } � ��• � . DELIVFfZY OI' PI�i�.LIM�NIIFZY LOIIN NUTFS I�1-T`H� - ' �--� ' -..�� ' - � . . Aa(3�ATE PRIPICTPAL A1�OUi�T OF � �+�25�-,�JO,GO ,� . � 1^HE E.�CUTIOH OF REQUZSITION AGl-ti�;l�•1F�N'r N0. �, ! � AND TFI� EXECUTION /1ND DEI,IVF'.FtY OF PROJECT = ' �-� • ��-- -- - � - - �- =� ; TEMPORA.r�Y LO�d NOTE PIO. ?� IN CONNECTZOtt ��1rI' �- � - � i PRUJECT N0. l�:;r�, R4�+7 • ' "� `� � ' -� ' '�O - - ; j c�._� � � -- -- - : _ �..� . ., __� � i:�'. �`� ^`� �� . . . . .., � .. . . „ .. • � • c � ,�r. � �.frt�r�'C - ^ - C .._.. . C •- .�.. � ;� . - � - ^�%• ._ ��ti - ^.-. + . -" .. -' `r' ' V7HERI'�A.S� �he uou�:�nn and Redeve].o,�en� Authoz:t-L,y o�'_�hp_C;i.-i;y oi" S'�,_Fau7.___ (h�rein ca�.ea the �'Loca1 I'ublic A.gency'�) ha.s enterod in�.o•a eon�xz�c�� t�a��d �s � 1 of the 3c�e��a� o� Jt�.ly � ��-� �,� 19 68 , numbered Contrac� Dtoo � P.�:i.nn, P,��,7�;'�.�} ' I (irh�.ch9 togo�hes� ��rith atiy supplemen�s �here�o or amenclnen�o, r��ocLi£ic�?o1i�: or j � ws�.ver� of Px�y pr�v-.L��_on� thoreof, is herein c�.].ea the "7Joan e,�a C#a�as-�� Con'�ruc�")9 i krith fih9 Unitcci S,�ates of Amex�.ca (here3.n c�led the �'•'C}overr�na�n'tn)• providing, in ' - � �� . p�r-�, for a Projec� Temnorarv Loan by the Government to the I,ocal Public A�en��r � , i under Title I of the Hous�n� l�ct of 1949, as ar►ended (1t2 U.S.C. 1.L�.50 et seq.), � in an am�unt outs�tanding a't any one time not to exceed � 7,360,766o0J to aid i the Local Public Agency in its undertakin� and carrying out o a cer�a�.n .. urban a•enet�f�. pxo�ec� (herain cP1]..od tho "Pro�ect") des:L;n�tscl Fs��ec�� , Noa�---°r5:inno R�1+7 ancl �rhich is moi•e f�lly iclan�i.�ioc� '�tr �1��1}�-��'i°ia3� �� ; s��^1-�� co��t;��;; . �,a , ---- � . � . � � WH�:REAS9 p�arsua,�� to �civor'tisamen�, for ths receipt os p:ro�os�.s for tn� ptLx°�-- � chase of P��olirainasy Loan No�es ( F3.rs-t Series G� ), hes�e� eo;��ln�s c��Zr-.tl ' ' �'Prel�n�,nary I,oan No�es"� of the Local Publ�:c�gency a�gregat�.,-�� 1E,?51,4�'JoO� , j -�hich �p�e�.�°ccl 9.n,a Pio�iee os 5�13 �ublished in tho � � ' -� `" ` � � � � � issue of the ' - � - 4 � �.�.�..e.�..a . .�.b.�.a..n...�,�.e...� ,..� in th6 Ci ty of -,Pnc�isi { t�� D�cE�eber 3%�d,��j��issue of The D�.1y Eond �-or i.n t�c G3ty oi N��; S'os°k9 , proposal.�for�Lhe purchase of sa�i.d note� in the �orm approved by t�l� Loc� 1'��:n?.�.c � • Agency we-re received� opened, and canJassed at the time ,and p�.aca protT�cl�,�. b3r sai.c�� ; adver�isemen�9 to �� At 421 S�ia'oash�. S�xee� ,,,�� . in tho Ci�y of S•c a Pa„� � � M:i.nnESO'��551.0� �� ` ; u�e _ o'c].ock9 P�T�I�� Ea oTo� �Deee�ber ]��(.�h- - - .o....e.,�,..�o� t9o8 , �f tirn3.ch p•roposals aso as folloi�rs: .� � l •--�- - ' • - . . 'i . . �_ ..' � . --------------______�-___-- .., _ ._ _ � _.: • .. _ . � , � _ � . . _ ; � 4 - . � ', I " -- , � k � _ ; � l w r EXHIBIT B . � { . HUD-9080 ((11-65) � . y � . . ; i ' _ - . __ I ' � . � � . ' . �• . . . � ' � " " � � • . ' � Intvro�t PrincJ.pa.l - I NFUno of B:tctdor . Itato _Amotuc�c Promj.Ux� r ��sbur�;li Na��anal Bank 308�/� $2 pOp Opp pp 9 � 590 - . � ' 3�0 85�� 2,251,000 � 6b,00 ' Continen�a7. Z1]�.nois I�at�.onal � � Bank and Trus<�c�rpar.y of � ^ . Chicago and Firs�t Bos'c�r_ : I Corporat:ian 3,83'f, $�+,251,00� $31o(}�J � , � • . ; 4 tdorgari Guai�nty Txtits� Co, � 3,8� $2,G00,0� � $5�.000 f o� P1Cr� YOrk and S�1.a�on 3 08�; 1,00O3 C�J 27 0� � Bro�hers and Hu�zler 3•83`N 1�25�-,� 330� � � Bank o� �er�ca,� r�. lo�� So Ao .. • , _. �. � . .. . . _ . . . . . . • :.:� ._ . : � ana,_Firs�_I��ai::tio�a1 G`i.-L-y Bank 3079�� ,25i,� . $�6oco • � • . t - � Nox�hern l,.°us� Cc��any ax�d Ao - Go Becker and Cc�nti��y� 7nco 3,71.�fo $4,251,0� $970� 1 , , � . 4 - - . � . ' ' '' - - " � - � �nd . . - . 1 • � " � WHER�ASy the interest cost a� wn�.ch tho Locr�l Fublic A��ncy can seL�� . �ho Pro�im�ary Loan P�o�e� ^.L� lowzr tht;n tne �n�oxas� ra�o t�r1L�Lch f.he ,�ove:�rimon� �f ig rEquired to cli2rge fi�ne Loca1 Public Agoncy un�ox the te��ms of th��Lo�� ` ' G��'�� Contrac�y and the Go�rernmon� is desi�aus of cooperati.ng i:dth tho Loca1: I'�ibl�.o , l�gency in its endeavor �o sal�. sr�id Prolimin�,Loan Notes i.n ordor to roduce carzy� ing ch�xgos and o�her costs o� �he Pro�ec�o " �� , . , . , . � . , � BE IT RESO�S'rD BY �ct��±_s�p.�.2�..�¢--...�-�.�?3.�,��.�nd.�P cve�-�r_�„� �,� '?�;�;� . ; ��f�.�.�i:.yr Of...�a�s?'�.a�... �� P�ca;.:, �I'0�!�"�8 '' Soc�ion 1, The a�oresai.d puollca'tion of ttie Notica of Sn.to anc� the� £orm �aid � j , contents tnereo� as so publ�shed� ai•e heroby, in all respoc�s9 approved, r�i,3.f'ioci , ! snd con.firmed. a ,,_ . _�. � • .. . -� . ! - .. '- � ' . - ' Section 2. In orcte•r to provide funds to dofray a,,cpen�es ineurred or �o be : �� incurrecl in t�i� TJoc�1. Public Ilgoncy's �undertr�cing and c�ry_T.n� ou�•of tho PT'O�EC�y � - or {;o reJtix�9 refund9 roneN or extand its ou�standin� notes 1.VJU8Ll in co�noction ; thoz•ew.L�h� tho Local P�blic Agency hei•eby do�ornL�nos to borrot� the sam of �'oux 2�Si.11ioLz � � i`��ao Hundxed Fa.�� C�ne �noua�nds+e.nour.nr aaaaas+�eseec.a-im•�;.co Do�.l�x� (�Z�,271.,CY:Q,C�w� , — - - --- . ; and issue its negotiAb?e Pr�.l.iminary I,oan Notos thero�'or in Aggrogato pi•inc�p�t � �moun� �u�1. to s�id sum, � . . � � Sec�ion 3. The Loc�t Public �1g�ncy horeby rati.fies and approves tha fo ,� of � t,ho proposaL horoina�.°ter in this Section 3 ern?n�rated, f.or tho purche.so o:� the � - 'E d.esignated principal a.moun� of �,ho Prelimin�y Loan Notes� which proposal the i � . - 2 -- ; < < '�j � HUD-3080 (11-65) l • - f . . • • � - - • ,,_ , � ; • . if � � • . 1� • • 1 1 ' " - . 7 y �• , . . � - . �� Loc�l. J�'ublia �!�oncy horoby dotoz�es �ri11. ,pro��.do the �owvst �ntoroot coot � and i.o thox�o.�a��o horoby acoopt;od➢ �nd s�tcl �rolirti.nary Loun tlot�s axe ho.roby � AwArdod �o u�.d puxcli��or� aa fo]1o�ra: . , _ • . . : ; - rxincj.r�� znterog� � �.�� R� • : . � •• _. . a:� •_Purchc�so?� � �4,257.,�Ooa� . 3o7i;� Nor'��i�rn Trust Cc:m�a.ny " � • and Aa Ga Becker a�d Ca:e�Gny, Inc, rjO SOIl'f;Yl L�Salle Stxee� , � CrL1CA;0� ��.3.210:1_S 60�Oj � _ . � �- • . � ' � '' . . F • . � � . � . . � - r �` ' . � ' } " - . � • ^ • � . f • , .� � . �. .. .... . � • L ' . . ` ' } ' Sec�•?on l.�o —F��ch euch r�o�� she�1 bo da'cod tho Z��h d�y of i . Jani�ax� , 19 69 3 ��iat, ba do�ignl�ecl rFreL-r±naa°y I,o�n No�o 1 ._ .•---��'s�Seri�`� G •.)n.; sh�1_� bo ��y�b1o9 as to both p•rincipF�l. �n�. � ''� $nic3rosi,�-'co bea�o:c9 on the ' 11.th d�y of .Ju.ty , i9�,; � �d9 pv.�°�u�n� �o th3 proposa]. for.the purchass oF sa3.d no�oss-�here�.nabov�----.- - 1 • t�s.ccep�EC1�' en�1 baar the ra'te of in�erest per an.rnsm, pF�yab�o su ma�urtty� ' 1 oh�. be� �he nt�snbo�s, bo �.n the donorni n��ions� and bo p�yable as �o bo'th j pr�.na'_!p�7. And �n�exas� at t�ho bz..nk or �i�tst oorrr��ny �s fol7.o�•r3: � Nurtboi�s In�ores� , 4 11axc��e� (Iz�clus�.v�) D�nomina�ion� Rate P�yab�o A�c _ � Nor'chesn Trus� Cc�o l � 33 �1C�J,C'CO 3077.o I�Tor�he-rn Trus�; Cc��puny � p�?�y �uid A, Go 3� � ��+ 50,G�0 � 50 Sa I,a,S�L7.e Stre�� _ � B��.�-.�:-• alzcl Cc��ry, ZE5 b 5�+ 25,CC� Chica�o, LLti.riois 60603 1 Tnc, 55 .� 6� lO,CCA �I 50 S o r�sa1�� s�cre�� 65 � 7�- 5,Co0 k � Chicago; Illo 60003 75 4 . l,pp0 � � 3 � , . } l ; r � , , . . . ; : ; �� '° , HUD-3080(11-65) • ! . . • ' • � . - - - - � . - � � ' ' - - � -�. � , � ' � • ' . ,' � - - ; ' ` ' ' . � .- . � '; � , , ' . � � . 1 . � . � Nono o.f tlio Prelitri�nary Locui Notes shFil.l bo val.�.d until after the bank or � trus� cornp�u�y at which �.t is payable sh�J.l havo si�ned the a�reoment� appaFt.rin,�, i on Qach such noto� to �ct as paying a�ent thereof. Each of the Prolin�Cnary , � Loan Notes shaLt be si�nod in the name of the Local Public A�ency by tho , Ch�i •� =�n of tho Local Public Agency t�nd = } , s`�`ial'�: havo th3 corporato seal o the Loc�7. Public Aoency impressed theroon F�id : ; a�test,ed by the S�c•re-csry o��ss�.st�n� Secra�caz�-,� thereof, and sajd of.�'i.c4��a , � aro horeby �uthor9.zed and direc�ed to cause said notes to be properl.y e�ocu�,Q�a , �=� ' . _ . � . , . � " - ' Soct�on 5. Each o� the Proliminary Ir�an Notes shall bo issued in � . . � subs�anti.a].ly thp form of the. note hereto attached and max•ked Fxhibi'c n�r►o 1 _ _ _.�.. .._ _. . ;� �_ .: , _Section bo Tho �'.�reement entitled "Requ�.eition 1�greement Na. Z p _ (herein cal7.ed the "Requisition Agreement")� �rhich has been executed by tfio � o�f�cers of the Loca1 Publi.c Agency, and has been presented �o and road be�ore the meeting, and the execution theroof, fzre hereby fully r�ti�ied9 �! confixmed, and approved, Said Requi�ition Agreement9 �ahen oxecuted by the � • Govea•nment, is hereby dec)_ared to ba and is hereby assiened by the Loca1 . � Public Agency for the benefit of the holdEr or hol.ders from time to time of the Preliminary Lo2n Notes, and the proceeds of t�ie Project Temoorary �,ozt� � Note executel pursuant to Sec�i.on 7 hereof axe heraby irrevocably pledged � �first� to the payment9 at maturity, of tha prJ.ncip2l of and intei•est on thv 1 Preli��tnary Loan Notes issued pursuant to this Resolutiono . � Section 7. The C��.?S�i-�-axi ' and. Secr��.ry o,� _ _ Ass�.s��n�.Secr�c�ry � of the oczl blic genoy are hereby author�7ed and directed to prepare and execute the Project Temporary Loan No�e doscl•ibod � . . in the Requl.sition Ag��eement (the issuance of which has heretofore been authorized by a Resolut�on Authorizing the Issuance o� Certain Pro�ec� Ternpor��sy —Loan Notes �n Connecticn with Pro�ec� No, p•i-;.r�n� R��7 and Pxovicling £or � the Security for t11e Payment Thereof, and for Other Ftiirposes, duly ado ted bv the Loc�t Public A enc on the S �c��'jl`-''`-� - - -�-- ---- - g Y 31s-c, d.ay of JtLIV � � �9�3�)� ?s�i t,�io principzJ. ,amoun'c of Fo�• rs?1l'?0:� `±'ha•a� HLtr_d_rzd Set��n�c�r Saven Thou��nd��m��n '°°°°'°°°""°'°°°�"°°a°•° Dollars � �,3'7`7,��0(.`0��. Said'note shall be � �es� ated "Pro ec� Tem or ��• � gn � p ary Loan Note ., shaLt be numbered Number 2 ; shaU ba dated the '1 rc� day of Jun.i�x�y , 1.9 6g ; shal.l bear i11teY'est. f?'o��i � the clai,e of the acceptance of the Loca1 Public .�gency'�s dolivery �he.reof ancl � ,tha paymen� there�c�r by the Government; shall bear a sta�;emen� At th� fooi. � theroof in subs�an tiatly the fol�.o•rring form: � . ., ,. � � . . , �` ,-� ��Del.3very of �.his note �ras nccep�ed and payment �therefor ,. �, , made on t,he day of -- — � 19 ". - �` ` � _ • _- - .. , :. ._.. . . .... . �.__. ' _ _ -. _ � +C� • • .. _'�.. . ' f, ''r' ' ' i IINITED STAT�'r�S OF�AMERICA� � •`� ' ! � Secreta_.ry of Housing and Urban Developme;��: � . ' � - •- - � . .- . . .,_. . _ � ' . � . ` - � n � ' . �Y'itle • - � _ � ,., � • ` —r�uasoao li i-6s> i - . . ! • , I ' ' , - � • --- - � -° 1 1�% � . . � . . . . . . ' • , �, • � � � , ' . ^ 1+ • , • ' • I • C � • • and ahaLl. not be v�t�d until said statvmont is du].y oxvcutod on boh�?.� of � tho aovvrnm�nto Said Pi•o�oct Temporaxy Lo�n Note atial). .bo dal�.verod bJ �Clia F�.n:i.nce O�ficPr o£ tho Locr�l Publ��.c �.guncy to . �'ie� ov�ioiit to .�e �_d an p� d ioi• by tho Govornment j_n acco�danca �r�.'�h fyic� �ex°ms �nd cond.itions containod �n $aid Roqu�.s3.tion Agreomen�. ' Socti on fl. The pr�coods derived �rom the sale of the Pro1.3.mix��s=y p�aw.� - I Notoa� to�ether wtth such Funount of oi;her appropi�iato fund� o� tho Loo�1 ` { Pu�1.ic 1i�oncy us m�y be necessazy, shaLl be appJ.ied� simultanoously w3.'ch fi,�a � reco�.p{; o�' sai.d pz�oceeds9 as fol�.ows: t � � FYra�4 To the paymen�; and d:I.scharge of the princip�l. o.� � �� and interest on the �'o1J.o�rin� Pro�oct Tempor�ry . Loan Note� of th� I,Qc11 �'ubli.c l��ency ia�t�c�d } ' pursuan'� to the�Iaa:`i''�i?�C��.^��'�Contract r�..r:d ho1c� _ , • or to bd held by the Govex�nment for i�s o�m ueo . and bone.fi� on the date of �h� prel�.rriiii�ry I��.n , � � •- Notes herein �uthorizod: � . t - - � " ' . �'r3.nc�.pu� � . No. Date � Anot�t � � -- 1 • 9/i9/68 � $2,�o7,c000ao � . � � , , . . _ i � � � � � = � � � � ' , t . . , � Socor_ds Ar�y balance of such proceeds sha?_l be c?e�osj_�.ec? • . { in the appropriz-t,`m�fl�coun� ox au.ncl �s�abi'�slieci � � pursuant to the��o� 2_�o�t;�� Contract anci shnl.l. . be urg�c�p�nl in accord�nce s•rith the provisions of ' thel�o�alZ='a��,�.5�.s y Contxuc�. � . - i . � . . Sect3on 9. The F��nce Oiiic�r ia h9rebg. � attthor9.zod anc� ��.rec�,ed to send iar�rned�.at�ly a le�ter to each p�+;i.Ln� �g�n� � for �he Pralimin�y Loa.n Notes in substantial.ly the �orrn of the ��r ob � • 7.a�s�ruc�i ona hero��o a��.ached and marked Exh�.bit ��Bl1 and to transm.i� tii� Pra1�n:In�y Lo�n t�otes to said payin� agent for delivery �nd p�rnen� �.n i , tu;co�dar:co t•ri-th tho terms of said lett�r� • I 1 Soction l0a This Resolution shatl ta.ko ofioct �.mmed3.a�el,yo � . i . _ „ � . � , 5 . . � 221664•P . HUD•Wash., D. C. HUD-3080 (1 i-65) �• _ _ . t 421 Wabasha Street, Saint Paul, Minnesota 551 02. Edward N.Helfeltl,executive director. phone 223 5218 � / .� � I '�� 4 , � � , � � . i HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA • Honorable Mayor and City Council December 26, 1968 ; c/o City Clerk � , City Hall and Court House � " Saint Paul, Minnesota ' Re: Temporary Loan Note ; Suc�m�it-University Project Early Land Acquisition � � ` Gentlemen: ; { E I On July 30, 1968, after prior approval by your Honorable Body, the Authority and the � � United States entered into Contract whereby the United States agreed to make loans . I in an amount not to exceed $7,360,766.00 to the Authority for carrying out the eaxly , land acquisition and demonstration rehabilitation program in the S�unmit-University � area. A condition of the. Federal loan was the undertaking by the City to ma.ke re- ` payment of the loan in the event a loan and grant contract did not materialize. fThis commitment was given by the City on the basis of separate contract with the Authority identifying the sources of repayment to be urban renewal bonds and Housing ; Authority Bond and tax levy resources. . On September 27, 1968, the Council authorized the execution of Temporary Loan Note No. 1 in amount of $2,407,000.00 to provide funds to carry out the early land program for . the initial operating period through January 14, 1969. Expenditures through November 30, 1968, totaled $1,844,789.93. Additional moneys in amount of $349,047.22 are encumibered � for real estate purchases. � , . The Authority esti.mates its project operating needs through July 11, 1969 to be in the ; amount of $4,377,000.00 and has been tendered Temporary Loan Note No. 2 in this amount ! I by the Federal Gover�ent for execution by the Authority of the note and execution by the City of an undertaking of repayment. Temporary Loan Note No. 1 would be retired � out of the proceeds of Note No. 2. The Authority requests the necessary Council action i pursuant to the terms of the Cooperation Agreement between the City and Authority dated ► Ma.y 29, 1968. � ' f ' , !� Respectfully submitted, + I � ° i V . �� ' � Edward N. Helfeld , , � Executive Director � t i t - � Lawrence J. Hayes, Harry P. Strong, Jr., Orville E. Anderson, Henry R Thomas, Kenneth J. Lynch, James J. Dalglish, Victor J. Tedesco � Chaiiman i � . 421 Wabasha Street, Saint Paul, Minnesota 551 02. Edward N.Helfeld,executive director.phone 223 5218 . � �� p ' � k � HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA � . , Honorable Harry E. Marshall December 26, 1968 City Clerk 386 City Hall and Court House , Saint Paul, Minnesota - I ' '� i � Re: Temporary Loan Note No. 2 � Early Land Acquisition } Su�mmit-University Project , j ' Dear Mr. Marshall: �. i y , � Transmitted herewith is a letter to the Mayor and Council requesting approval , � ° of the above-referenced note. I would appreciate it if the ma.tter could be °+ � placed on the Council A,genda for Friday, December 27th. ; Find enclosed the origina.l copy of the note for execution by the proper city ' officials, together with four sets of extracts of minutes (Reference is ma.de � f to Council File No. 240404 adopted September 27, 1968 for form), which I would ` t� hope to have completed in three sets by Monday afternoon. ��orporation Counsel's � ! office has been requested to have the necessary resolution prepared. � � . ! ` Very truly yours, I � f �.��,� � � � Edward N. Helfeld ` � Executive Director , � i � + i Encls. I � , f Lawrence J. Hayes, Harry P. Strong, Jr., Orville E. Anderson, Henry R. Thomas, Kenneth J. Lynch, James J. Dalglish, Victor J. Tedesco Chaiiman : , �- � t 421 Wabasha Street, Saint Paul, Minnesota 551 02. Edward N.Helfeld,executive director.phone 223 5218 i � � i � � � �� . , � ► HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA � ► i i � a f + � Aonorable Harry E. Marshall December 30, 1968 1 City Clerk 386 City Hall and Court House Saint Paul, Minnesota Re: Project Temporary Loan Note No. 2 i ' Suimmit-University Project, Minn. R-47 Dear Mr. Marshall: t Enclosed herewith is a certified copy of Authority Resolution No. 68-12/30-1 � adopted by the Commissioners of the Authority on December 30, 1968, which is � � submitted for the purpose of complying with Condition No. 1 of Council resolution ; � adopted on Friday, December 27, 1968, authorizing City execution of the Temporary � � Loan Note. • + I I I believe all conditions prerequisite to execution of the Note by the proper City ! officers have been complied with and you are requested to so obtain the signature � of the Mayor, yourself and the Comptroller to the Note which was delivered to your i office with the Authority's applicati.on for Council approval. 1 � Yours very truly, � � 1 ames T. Hart � Staff Counsel Enc 1. � y ; Lawrence J. Hayes, Harry P. Strong,'Jr., Orville E. Antlerson, Henry R. Thomas, Kenneth J. Lynch, James J. Dalglish, Victor J. Tedesco Chaiimen � • � ,� • -- _ ' - � -- — - ',-. ; . �- '� . . ' . � , ! , - , . G-7 � � 10/20-60 f � � , . � �. � CERTIFICATE OF SECRETARY ' ' i . � � t � ; � � The undersigned hereby certified, as follows: � 1 That he is the dul ualified and actin Secretar of the ( ) yq g y Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, herein called the "Local Public Agency" and the keeper of the records of , the Local Public Agency; I� _ 1 (2) That the attached RESOLUTION No. 68-12/30 , is a true and correct copy of the Resplution � as adopted on the 30th day of December , 19 68 ; I� . �� (3) The seal affixed below constitutea the official seal of the ;� , ` Local Public Agency and this Certificate is hereby executed under 'such � ;t ' i` official seal; �` (4) That the undersigned is duly authorized to execute this , � ,� i. Certificate'. � I• �� - . IN WITNESS WI�REOF, the undersigned has hereunto set his hand this 30th day of December � lg 68 _ . Secretary : � , . '� . (SEAL) ,� , ; . . i - . � I • 1 T ` . }'r '� � } I t�ti�- . ' _ f t •' c y`,1 , r . � + I 4 � � I , . RFSOLUTION AUTHORIZIrIa TH� SAI:E, IS�UAIVCE`AND � Lr. ' . -DELIVERY OF PRELIMTNARY LOI�N NUTFS IN•TfiE ' =, �•=-� ' - LL��- L�r • - AC�(3REGATE PRINCIPAL 'AMOUNT OF � ��251,000,00 THE EXFCUTION OF REQUISITION A.GI�ELt�11��N` NUo , ' AND Z'� EXECUTION AND DII,IVFRY OF FROJECT �-- ' `�-=� -=-- :- � � -:�'. �� TEMPORAItY LO�IN NOTE NQ. 2 � IN CONNECTION �dITI�i' ' =.T • . _ - PRUJ�CT N0. M�.nn, R��+7 • ' c� � � -.= � �O --- . C�,._-_ ,. . '� — - . . __.,. � c .,,� Ci.. C..� '� ` ' ' .c., " _. ' " ._ ' r ' :C �� . . . - - r-r i^(�r rrr r ^ .. „ , �. '' y - . � _, l_ l ;\`. l �. � n , C .._ , �`�• .� f(�� ' � ' „ _ _ - � .. � . . ��. WHERFJbS, �he uousin� and Redevelo men� Autnorit of the C3t o� Sto Paul (herein cal].ed the '� cal Publi�c ency" has entered into-a con�rac�• dated as =b -� of the 30f-;b•da�y of July `�'�-�= ^� 19 68 , numbered Contract Noe � -�� t�a.nn�, R��+ T,j,} . (xhi.ch� toge�her with any supplements thereto or amendnente9 modif�ca � ons or waivers of ar�y pz°ov�!sions thereo�, is here�.n called the MLoan a�d (�x�n�'Con'trac�'�)y �� ' trl.th �h� Unt�ed' States of- America (herein cal].ed tho' !�C+overnmentro)- providing, in -- - par-h, for a Projec� Temporary I,oan by the Governmen't to the Zocal Pu�lic A�enev� under Title I of the Housing Act of 19�t9, as ar�ended (l�2 U.S.C. 1.L�.�O et seq.), in an amount outstand3ng at any one time r�o-� to exceed � 7,3�0,7660� to aid , the Local Public A�ency in its undertaking and carrying ou o a ce az.n urUan renewal pi°o�ect (herein call.ed the "Pro�ec�") desf.gtiated Pi�o�eo Noo Minn, R�47 and ��hich is more �ully ident:l.gied �xr the��°�� ontract;�.\and . ' ' WNEF�S9 pursuant to advex�'tisement far the receiot o� prop4s�s for the pv.a°="- chase of Preli_m�.nary Loan Notes ( �'3rs-t Ser3es G ), hetee�.ra �oraetim9s cal.led , flPreliminasy .Loan Notes"� of the Local blic Agency agg er gating $� �,251,OOOo�� whi.ch,_appear�d in m ha�ice o� Sale published in the ' ' ` �� issue og 'the` - - •� � - � in the City o • • = -, and in . t e �ecer�ber 3x�d � ?9 ssue of The Dai1.y Bon B�yer �.n ze L .�y of Netr,.Y,ork9 __ proposals £or t ie purchase of said notes in the form approvecf by f�he �.oca1 Pub].3.c . Agency were received� opened, and canvaseed at the time ,and pl.aca providsd by sai.d.• advertisement9 to witi At 421 Wabasha Street � in the Ci�y of St o Paul � Mlnneso'��. 55�-02 9 a� � � � one o�clock9 patd�9 E� . '.� December 1.7th _ ____ � ].968 , � which pxopos�ls are as follows: ,. �. '_ ..'_ �" . _____.,_.._.._________....�_�_ -�-� .. . .,' _ : • c. _ - 1 -� HUD-3080 ((11-65) � � � � � ' � � - - S - r_ � - � � � , i Intoroat Princ:�p�,1 � NFUne of Biddor RAto � {lmounic pmom.�uln �_.______�..� ;� �sburgh National Bank 3,8g/o $2�O:�,G00 59•� ; , ' 3�°$�� 2�2519� � �� , Continental Tl]�nois Idational , ' Bank and Trus�ompany of � � Chica,go �nd First Bos�on � � - .: . � Corporatiori 3083°� $4,251,004 $3Zo� ' i - � Morgari Guaranty Trust Coo 3,83°� $2,000,0�0 $5l�,pp � of N�a York and S a�l.�on 3 0 8 l,000,000 27 o Op Brothers and Hu�zler � 3.83p 1,25�� 33000 � - � _ � � � .. .--_ ' _ . � .. . _. ,. �. __ � . � .- � :-.: ., . � ... . _ :. Bank of America, N, To & So A, � � and,Firs�Plational Ci.ty Bank 3m7g� $4,251,� ._ � $]16,Q0 � Nox�hern Trust Campany and A o � G, Becker and Cc�apas�,y� Inco 3,71�fo $4,2519Q00 $97e� t r r ; � and � � • ' - - �. � � WHEREAS� the �nterest cost at �rhi.ch tho Loca1 F�blic Agcincy can se7.1 j ( the Prelinrinary I,oan Notes is �o�er than the i��orest ra�o t�rhich t.he �o�eo mont I is requirecl to charge the Loczl Public A�oncy under �he tez°ms of tho�Lott�i �.� ��r � �'s. Contract, and the Government is des�.�oue of cooperAting �ith tho Loca7. Publ�a � ligency in its endeavor �to sell said �reliminar,v,Loan 2do�es in ordor to reduce car'tP,�+'a ! ing charges and other eos-�s of the Pro�ecto " �� , .. . - . . � � EE I�' RESOLVE.D BY .1_ ,�,,i-�, — nf �F,�l!'„��',�T n�P �'�:o„Pan�� h'(i rn�.q�:a �4 �'.�i �f Soction ?, The aforesa3d pLblication Qf the Notice of Sc�tto find �he� form end" contente thereof as so publishod� �re hereby� in all respocts9 appx°oved� ratifiod � and confirm�d. �_ . ..`. , , . , _ . _, . l Section 2. In order to prbvide funds to dofray expenses ineurred or to be � incurred 1� e Local Public Agency's �under-�alcing and carx�yin� out �of the Pro�ect9 ' or to retix°a; re£und, ronew or extend its ou�sta�~�din� no'tes issued in connectian � �herewi�h, the LoaaZ Riblic Agency hereby da�err�.ina� �o borro�r the sum of Four 2��11ion � . Two Hundxed Fif`��r One Trousand�'coo+o�+e±moewmeem�raaoawo.a'a;aoa� Dollaxa �$��+,251,OOOQ00 and iesue its negotiabZe Pre:Liminary I�oan No�es th�refor in aggr�gate pri.ncipc3J. � amount. equa7. to eaid �um, � , I Section 3, The Local Public Agency h�ereby ratifies and approves the form cf the proposal hereina,.�'t9r in this Section 3 enumerated, £or the puxchase of the deeignated principal. amount of the Preliminary Loan Notes� whi.ch prcposr�7. tho _ 2 � . HUD-3080 (11-65) . - � _ • r _ � � Q � i 1 �1 • � • � � � `. � - � �"� _ . ; . . . , . . � I,ocal Pub1.�.a Agency hereby doterminas ti�3.U. provide the �.owost, �.ntereet cosb t and ia th�x�efox�e he�eby acoept�dy and said t reJ.�.m'Lnary .Lac�.r► Not;�s> are hor�by ; awFU°ded to e�:1.d puxcha�er9 ae �'o�.lowa s � � - � , . ,_._. � Px�ine�:pa� �Tnterest � Amourit Rat,�� . . _. � ., . .. . . �:.: ,_�Purchas er , ....�.,_._.� .m..�.' $4,25�-,�0� 3071� Ptorthern Trus-� Ccxnpariy f &rid Ae Go Becker &T]d COmp&Vi1y� IriCo � 50 South LaSa1.7_e Stree� , crucago, zil3.no:;.s 60003 r 1 I � ( • . � � , ' ` , - . � - , t ' . ..` _.. . ., ' : .__: . i , '� yect�a E�ch auch r�o�e ehal.2 be d.atod the Z�+�h d.ay o� - J�nuaxy . � 7.9 6�; sha7.1. be designated �Pre n� �=oan No�a � . � -�L erie� G )".; ahall be p�able9 as �o both pr�.ncipril an� • 'r� fY1f�flY'A3��-t.o bearc�r9 on �he ' Zl�h d�y of __._ Jizl;Y .• � �9(�� ' ` � �nd, parauan�; �CO the propo4al for.the purchase o� sa�.d. na s9�--hexeir�abovt�-.--.- �ccepiced9, eh�.7. be�r tho ra�e of interest pox annum, p�Yable a�C ma�urity9 � ahall ba� �he nu.mbers9 be in th� donomjnations� �and be peyable as to both � ' �prinaipal. and' �tnterast a� �he banle or truat oompany as folloir�: � Interesi� Idwnbers � Purchaser - InLlusivo Danoninatians R�te P�yablo �f, I N�?,'che�.c�m 3 � 33 �ioo o�o � � � t , 3071°� P��r'chern �rust Ccin�any } pa�ay �d A, G, 34 � ��+ 50,000 50 S. I,aSa11e Stre�t Be'�°.�k�:r. and Com.pany, �+5 � 5�+ 25,0�0 Chica�o, ILi..ino:i.s 60603 ��0 55 � 64 10,000 50 Sp LaSa?.� Stree� 65 � 7�+ 5,040 Chicago, I1?o 6C6o3 75 ^ 1,4� ' � 3 p HUD-30S0 (11-65) � , - i• Y . � : � • � � � � ' � - ., � ; ; • ' , ; �, , �- � None of tha Preliminary Loan Notes shF�l:l� be valid until aftei•� the bauzlc or itrus� compar�y at which it is payablo s1iaJ.l have signed the a�reement� appear�.ng ; on each such note� to act as paying agent thereofe Each of i;he Preliminax�y � f Loan Noi;es shall be signed in the narrie of the Local Public Agency by the � - C�� of the Local Public Agency �n.d ! s al� have the corporate seal o the I,oc al Public Agency impressed therean and attested by theSecretary or-.�ssis�ant Secre�Lary thereof� and said of.�icers are hereby aut�horized and directed to cause said notes to—be proporly, exocutedo � c� � • . . � i _ .� . . •- ---- � Sect�.on 5. � Each o� the Prolimina.ry Loan Notes shal.l. bo issuod i.ri substantially the form_of the. note hereto a�f;ached and marked Exhibi� "A"e = � �--�-= -�- -- - __. ., Section 6. The Agreement entitled "Requisi�ion Agreement Na. . 1 � (herein ca'lled the "Requisa.tion Agreement°1)� which has been executed b� officers of the Local Public Agency� and has been presented to and read before �the mee��ing, and the execution thereof, are hereby fully ratigied9 confirmed, and approved. Said Requisition �tgreement9 when executed by th� � Government, is hereby declared to be and is hereby assigned by �he T,oca1 Public Agency for the benefit of tne holder or holders fram time to time of � � � the Prelimi.nazy Loan Notes, and the proceeds of the Project Temporary Loan ; � Note executed pursuant to Section 7 hereof are heroby irrevocably pledged ( ( first, to the p�yments at maturity, of the pr:Lncipal of and in�erest on the Pre�.iminary Loan Notes issued pursuant to this R.esolutiono � " . f Section 7. The ��ti��n and Secret r o� � Assis�an ee�e�Cary of �he ocal bl c gency are hereby author zecl � and directed to prepare and er.ecute the Project Temporaxy I.oan Note doecribed � in the Requisition Ags•eement (the issuance of which has heretof�re been ;, authorized by a Resolution Authorizing the I�suance of Certein Pro�ect TPmp�rAty' Loan Notes in Connection with Pro�ect No. M3.ru�., R�47 and Provi.ding for G � the Secur�.�y for �the Payment Thereof, and for Other �.irposes, duly ado�ted b} a � the Z,ocal. Public Agency on the � day of Ju�y 9 19��, `�� princapal amoun� o�' �'o�' r�.u'�on ez Hundred Sevent Seven Thousand��om�a! � °°°'�m°y°m°�°°°�°°°�mm° Doll.ars �¢ , l , �0, _ . Said note shall be� # designated "Pro�ect Temporary Loan Note"; sha11 be numbered Number 2 ; sha.LX be dated the � th day of Janu�ry , 19 6g ; shall bear interest �rot� i � �he date of the acceptance of the cal Public .�gency's delivery thsreo� and'� the payment therefor by the Govei�unent; shall bear a s-tatement at the fout i + thexeof in substanti�.ly the followi.ng form: i { � � . , � � - -. ;, ��Delivery of this note �.as accepted and payment therefor _ , � made on the day of -�,- `. � 19 � -. ' - ` . -• r I . `'� . •.�_ .. ."' . .�" . r ' _� ^ ' ( r �(`v. ±r- �:. � UNITED STATES�OF AMERICA ` ^ .. " " , _ I � � Secreta.xy of Housing and Urban Developmerit� � ' E . , � � . • �- - r �'= �-- � � I � BY 1 , . � 'litle „ - 4 - HUD-3080 (1'i-65) f - � � �- ; t - . � C 7 _•-__' _ -_ 1 �� ' � 'J '. ♦ { i � y , '-. <i 'C � . I r• i j . � 1�i 1 i • . i i ,and ah�ll not be va.lid until said statement is duly executod on beh�.L.f,og � � �he aovernmanto Said Pro�oct Temporary Loan Note sha.Ll, be dolivered by��the , t F3nance O�fYcer o� tho I,ocr�t Public A.goncy to e ovez�nmen o e eld �zn p d or by the Governmont in accordrzrace �J.th rzr ; � the terms and conditions contai.nod �n said Roquisi.tion Agreoment. , ' . I � Section_ 8o The prcrceods dorived from the sale of the Frel�.mi.naxy I,oan ' Ho�e39 �ogetlier with such amount of othex appropriate �unds of the Loo�l. � , Public Agency a.� m�y be necessary, sha11 be appl�.ed, simultaneously with ��e � � receipf; o� sa3d proceeds, as follows: �� FYra�p To the payment and cll.scharge of the pri.nc�.pa1 of and 9.nterest on the followi.ng Pro3ect Tempox�uy F • Loan Notes of th��J c�]. Public �gency isauod ; �` pursuant to the�S'.oa.�n s��?��Contract and holc� k � : � or to be held by the Government for its o�m uso r � and bene.fit on the date of the Preli.minary Loan ? � • Notos herein authoi�ized: � i � , " Pri.ncipr�l + � , Noo Date � Amotuzt � 4 1 9/19/68 L : $2,4U7��a00 � � . . � + •} � � r � � . � � 1 , � Seconds Ar�Y balance o:f such proceeds shaJ1 be deposited ' � in the appropri��g� o co�anT t or fund eq�rablished , � pursuant to the��o� �� Con'tract and shAlX. 4 be u ��,g�}1 in accordance w1.th the provisions of � i - the��oafia�S�� Contxact. � � Section 9• The Finance Officer i� hereby � � � authoriz� and directed to send immediately a Zetter• to each p�ng mgent� � for �he Preliminary I,uan Notes in substantially the fos�rn of the Lottor of Instruc�ione hereto attached and marked Exhibit "Bti and to transmit �he : i Preliminary Loan Notes to said p�y-�,.r_g agent for deliver� and pqymen� in � accordance with the terms of said letter� ; . . � Soction 10. This Resolution shatl take effect immed3a�ely. . � �. 5 e � 221664P ' HUD-Wash., D. C. HUD-3080 (11-ES) ' ' • � . 6 • �.- . � .. QUADRUPLICATE TO DBPARTMENT � C�11� �$ f J sr . CITY OF ST. PAUL OOE NCIL NO. ��'' 9 ' OFFICE OF THE CITY CLERK � COUNCIL RESOLUTION—GENERAL FORM PRESENTED BY COMMISSIONER nArF RESOL��, By the Co�ancil oi tho City aY Sai�t P�ul, that pursumnt to t�e p�ovi.��.oms o� R+�$alu��tin af t�c� ' Gaunai�� Counail File Na. g�O�t�?4, �nc� pur�ua�t to thn Co+o�aer�itiflu A�ra��eat ther��.n �eiorrec! ta bet�teox� t�e - I�a�zsi��g r�ncl ne�let�c�lo�c��nt �'�ut,�ority o� ��ie C��y o� �uit�t � �'aul, �I�nixASnt�, s�ad tf�� City uf St►3nt f3�i�1, QY�o�.��d uude�r dlmte o� �inX 2�, i369, and fu��her pu��tt�x� to tho provision� of the Ea�Zy' Land Aec�uis#tiog 1�g��eneats ��o rv�Eerrac� tc� ir� sAid ��o��tt�on, the �o�znbil o� �1ae C3ty aY �aint P�.txl hc�raby �►ut��or3zos �ho �aropor Ci�Ly o�tioer$ t� axeeuta, on uoi�ul# a� said Ci�y, tk�e unc�artnk3,ng o2 � thc �i�Cy v� Smint YaF�I f �ifri�csatu, inoorpora��ct in Yro,�ect ; , Tenpor�.ry I,otin I�eta �, � c�opy af whia� ia �er�to ut`�uQlied, j m�.rk�d 'F�s�i.bi� �" an�3 is is�rso��orr�tad F�er�in �y re�ero�ce, , 1 sub�eo� �o thQ followi�g conditionsi (1) ��scution o�2 �a��ok� under��king sha11 ba sexb�Qet ta p�aBngQ �� t�e Ho��3n�; aud Re�evc�lop�Qn� �u�thori�y�,�?� t�e Gity Q� Sa3nt P�u1 0� �. x�+�solutiAn taim�lar to thv gro— � �as�d roealu�ion, u oo�y a� �vhiah is hareto att�v�hc�d, �arked '�F�Z�it �� and 3.naorporutaQ t�eroin 8y rdferenae, wliiot� �aid �ut�eority oani:e�tplmt�s t�doptir�g on or aAout � t�e 3n�h da,y ot �aoe�i�or, 1�6�. � (�) Such unc3ertakia�g s�all t�� eub�eQt to 1�h8 t�rtYtor Qondi�tion that out o.� tfie proc�eds received irad T�mporary Laan i�ote �, ��nc�.�a7. an�3 3ntorest o� Tamporury Loan Noto 2 s��al� �f.r�t b�; ��id ��oro:Prar�,. I , DEC 2 71968 � COUNCILMEN Adopted by the Council 19— � 'Yeas Nays ' � '� Carlson ' �� Approved DEC � 7 19-- Meredith Tn Favor � Peterson Sprafka , Mayor ' Tedesco A gainst Mr. President, Byrne �O 4{ 1 # � • . � ' HOUSING AND REDEVELO��tF;NT AUTHORITY � 'j i . • • ' OF TfiT CITY OF SA,7I�gA�1I.:% MTNNESS?'T'A • ' �,j . • PFOJECT TE1�tPOr'ZARY LOAN NOTE (ESCRar!) ' roto r�o. 2 : . Pro,�eot r;o. �Minn. R-47 - � . .�. #_ 4a377,000.OQ �. ;'� ' Housi.ng and Redevelopment Authority of the City of Saint Paul, Minnesota I (itarc:.r: ca?led t!:� "L�cel Pub1=c �;en�y�" , for valvo reocivod, horaby pronisos to pqy, but so el;/ ;�c7 tno P�`—.o,Joct � iempo::1y Laan Rop�yman� Fla�d.heroinaftor montionod and not otherr�so, upon domand, to tho Unitod Stu�es of �,�erico or orcez�, �h� sum o� Four Million Three Hundred Sevent S'even �housand--��----�_�_��_e_______ � DO TL�.1'RS ($�( �Z� , eind at cuoh �ima ;,o �y, but solel,y iZ-or said "cl�d ar:d not o�::or,.so, in�e:as� on said su,-�, iroz tra dato of t .s acaeptanoe of dolivory of and thu p�yment for this Noto, at the rate or ratoa as follo�5: . � _ _ F:a7 �7c �fter tho flcto of acoap`„anoo of do2ivety of and pctiymont for this Note tYu•ou�;h tho noxt • i ir�edia�e];� succoodir� .hme 30 0: Aicombor"31, as tho aaso mey bo, tho rato st�all not oxaood si:. poroont - (6�'a) p�r r.nnun, but o�harnzsa sh.qll be tno highor of: ' ' ' (a) Tho "going Fadoral ra�o" doto:�ninod purau�n� to the prwisions of Title T of tho Fiousing, Aat of , 1944, as amended, schtch is in effect on tha date delivory ot this Note ia aocoptod azt� pEynent � � mado therafor; or • . . . , p� ' (b) A ;ate por annu-a equal to the avera,�o yield to maturity on all outstszidir� obligations of tha � � U:iitad S'�„atos havi P a �atw•i of a ro:.inate fivo k� casa m^� b3 n�:ct �^aceding i;o datepdelive � YeErs fT�om the May 1 or Tw;mbor 1, as tns � -J , P• ry of this Note is suaoptod and p�rnon� mado therofo�•, � �`, es dater.nlr.ad by f.he Socretary o: Housing and Urban Ik:velopmont upon the advioo of tha Sacrata.�r of tl^w 'I4•aasury, such avera;e yield to be estimated on tt:e basis of daiJy closing o?rice�t bid � quotations or p:ices for tho month of MP,y or Novomber� as tho ouse ms� bo, next precedir� tF:e data � , delivary of tnis Note is aoaep�ed and pqyment made thorefor� and adJusted to tho nearest i�S of f I percon�. . _ . � • F:or� and a:�cr ti:o Jr.�uary 1 or Jul;/ 1, as the caso mety ba, next suoceoding tha dflto of aocsptanao of � ' ' ds}.ivor;� of arsd payynent for �his Note, the nrincipal stm shall bear interest on tho tmrepaid prinoipal aur,ount tho;aof at a redotorminad ra�a (to bo du]y notod belotr on botv�lf of tho United Statco of llmarica)� ' �i.ch shr.11 bo initiully detcrminad and beaomo effootivo on said Jr..mi�ry 1 or Ju],y 1, as tho caso mqy bo, �� , rsid shail bo suacassivoJy rodotet^ained at 6-month intervals thoroafter on Jcutuar^/ 1 and Ju� 2 of enoh yari; and e�oh suoh redetormined i-a�tQ shall beoome effeativo, Trith rospoat to p�monts un;apaid on tho � i � da�o in:,edicze7y preoodir�, tho effeativo dato of such redoterminod rate, in sacordanca �ith tho follor.�ir� + fo:r.iuia: i�e redotarninad rata shall not e:coeed six percent (6;6) por. annun, but otr�r.�is� shall bo tho �� hig'ner of: • . �• " � ' � �a) ��ae "goin3 Fadoral rate" det�rn;inod pursusnt to tho provisions of Ti�lo I of th� Housing Aot of ' �, ' 1949, as �.r�nded� and effoctive on tho effectiv� dato of such redoterr,iitt�d rata; or �' � (b) A rat3 per annU.� eGL:..I to tha avor�;o yield to maturity on all ou:.s�+�.nding obli�ations of ths � ' tkiited S�a.ties hsving a natimity of appro.ci�r.ato]y five yeess froc� t!�s i*�y 1 or hwo�rber 1, as the j ! caso r,:,y beL nazt o:ece3ln; the offectiv� date of suoh n dotermined rato, as dotarnir,ad by the � ' Secratc:.�r oi Housing z..zd Lrbn.n Dovelop��ent uoon the advioe of tho Sacretary of th� i:asswf, � �oh avera.ga yield „o be estir.�a.ted on the basis o: dai�y closing �rhet bid quo�tions or prices (` � for the month of t",� or Novamber as tha cASO nay be r.ext precoding the effeotivo dntc of such i, � , 2�do�c.minod .at�, �nd ad�usi;od �o tho noarest 1/8 0� 1 paroent, I' j . Bo�h �ne p••inoipel oP cnd interas� on this Note aro payeble at tho prinoipal offloo of tho Local Publia :�eno;� 1:� f �� a nt pau1 M�nneSOta. , in arpr aoin or ourreno:/ of tna �ite St�tos I o� ..r�er�oa :,nzca, or. Lr.� ce�o ot ti .e paynan o prino pa o an erost on this Nete� is logal tonder for tha �__ —_-ie.T '- _ .-.r-�--� ' � i, r--.-�n 4+ y . . Y f` � ' ! � . 1 � , �, ; � • . , Undertakin� of the Cft�of Saint Paul. Minnesota . Aa additional security for the paymen� of princi�al o£ and interest on- ' this Note and all other I�otes which are issued in accordance with the terms of said Note, the City of SainL• Paul, t�iin�esota, for good and � "� '�valuable c�nsiderntion hereby agrees to pay said principal and in�erest ' in the even't: the funds on deposit to the credit of the Project ' Temp��ary Loan Repayment Fund, referxed to in said Note, are insufficient to "�ay the same, t�hen due and the City af Saint Paul, Minnesota hereby � pledges its full faith and credit for such paymen�. This undertaking � ia m�de in accordance with and pursuant to the provis3.ons of Section ; 305 0£ the Temporary Loan Con�rac� (Early Land Acquisition) dated ; JuZy 20, 1968 betsaeen the Housin� and Redevelop�enC Authority of the � Cfty of Saint Paul, Minnesota and the United States of Amer�c�, idenL3.iied � as Contract No. Minn. R-47(TL) for Pro3ect Minn. R-47. � r • � CITY OF SAINT PAUL, NIIAIPlESOTA � _ �y . r Mayor � � By , C lerlc.� , , (SE�,L) 1 � ; � r � • . . � Couatersigned 1 . . _ " ' ; BY ! �Controller i '�'�-�' ' fi .� � , � � i , . ' . I I , • � • 1 � � f { � ' - - ' . {, _ , ? - ` '. ' • : � . • . , � , ! . ; • . ,� . . � , . � � ' . � � j . RESOI,UTION AUTHORIZI1dG T}iL SAL�, ISSU1�2�;CE Il�1D ^ 1 v 1 � ��; . DFLIVFRY OF PI�i1LI��i�NARY LOAN NUTES Ir1-1i}iE '=�-- � . ' - • AC�(3HI�GATE Pr'uNCIP�.L A2•SOUilT Or $ �+�25�.,e�oo00 . , r THE EX�CUTION OF REQUZSITION AGKLI:t•1��N'P h0. �-�� __� ! � AND TFIE EXECUTION AND DF�,IVERY OF PROJL�CT �=- � �-� - ��-- -- � � - �- •-� � ' TEIVIPOF�Y LOAPd NOTE PiO. 2 =•n ' - . � �� IN CONNECTTOtl 5��3'EI' y . .- PRUJECT P10. l�;.nn, RAZE 7-- - � �` c . . ,.o .._ - i C�._� . - ` .� - -' : _ ---� . .. .. 1 � - � � �-^� , T� r ��rr^� r . •:. .....•C� J _.. � : .. ..r" f ' .CC �` l.:`� .�• � , j �C� _ i-� � • : ' • , : _: " .. . . • ..__ �.^.'_ � j^IHE�'SJt,S� �he uau�:�_n�; and RedeveloY�;nent Authori�y o-F_�he C;i.vv oi" S'�,_Pau]_____ � (h3re�u ca�1eJ.�ho"�,oc�1 Public 1�gency'�) has entered into•a cori�ri�c�• c�e.�ed � � � i of �he 3c��ha� oi JttlSr � -� �'� 19 68 ; numbeied Contrac� T1�o t��-'.nn, P--!r7�z'�,�) ; (ti�rt�i.ehy tngo"�he�• Y��.�h atiy sup�lement5 tt�ere�o or amenclmenta9 r�:oc�i.��c:i;zo71^or ' ws�.vers o�' ax�y pro�-J.�ic�n� thoreof', �.s herein c�?le�� the "�.o�n �cl G��a,�t;� Con�s�ac�")9 �i�h fihe Ui�s�ed Stat�� of �imeric�i (herei.n c�J..l.ed the �!'Qovernm�s��n)- p�.�o-�ridin�, in � ��x-�, for a Projac� Termorarv Loan by the Governmen't to the Zocal Public Auen�-�r under Title I of the Housing Act of 19�:9, as amended (lt2 L'.S.C. 11a.50 et seq.), in an amount outs-tanding at any one time not to exceed � 7,360,76000J to aid the Local Publ.ic A�ency in its undertaYin� 2nd carrying out o a cer�ain ' urban rene��+�1 pz�o�ec"� (herein c�11.ed tho "Pro�ec"�") des:�m�tscl F��ec��tiP��?-�y ' • Noo rq:inno R��+7 ana which is more �u?1y iclon��_ac� 3rr tr�l}�v��.;i r;�:�,� v�.'�.�\^3�1tJ Coni;x�c�;; ,ancl ' � --�- � � : ; • WHERE.AS9 pursuanic to �dvor'tasameni, fox tha rece�pt os pz�oFa��.s �or fi�h3 p�z°�-- � i chase of Px�oltm3si�xy Loaxi No�es ( F�.xst Series G� ), he�s�.n s�me�:Ln�� c��.:Lacl ; � � "Preli.rnlnasy Loan �to�es�� of the Loca1 Pub��c�gency aogre�ati,�o ��T Z�,�5�,��0�� ' wh3ch appe�•cd i.n a No�ico o� S�Zo �ubl�shed �n tho �� , � ._. . . � � . . issue o� �the . .. - ..,� ; ' in �Che City of • � • �� -�tanc�j.n ' i t e�Dece:�ber 3�d,�-90 issue of The Dat1.y Eo:�c��-or i.n thc L'ity oi N�.� ]'oa�k9 proposal.s for tha purchase of said note� in tho form approved by flis �oc�7. k�io?�c � ' Agency we•re rece3ved� opened, �nd canJasaed at the time ,and p�ace prot•�cl�� by sa3.c;• � advez�i,sornent9 to �� At �+21 Zi;au�.sh� S�rec�_ _ _ _ _ � � • in �Cho Cit�y of S'c�Pa�,� � �M.�nn4so��i 55J-0��,�� , ? u~�e _ o�clock9 P�t.I�� -E,- - o�'o, ,� DecE�ber 1'�h — - �� -968' wh3.ch proposals �so as follot�rs: , . ; . -. � . ..' ' . ---------------------..--_ .... .. .�_ � ��. _•�: - .,. _ � � t - i � , � . : t . � . . _ 1 � � . ' . . HUD.7080 ((11-05) � , � • EXHIBIT B - 4 . - - � - , � f . - , • - - : I � . . . ' •� ; J . � , " f . � ' . . • • ; ' : i ! ' , � : � Intoro�t Pr�lnc�pul . � ; ; NFUno o� B:tddor . Ruto Mioun� Pmom�.u:n � � �`�,sUur�li TJa��cnaJ. B�k 3089� $2,0�O,O�J 59.00 : � � ' � • �3��8gn� 2,251,� � �o� � � ' Continent�.7. Il]i.nois Pdationa]. ! Bank and �.�ts•��c::r�ar.y of ^ , , � Chic��o and Faxst Bos�or_ , _ �� . , � Corpor�ttion 308� ��+�251s00J $31o0J ! Mor�ari Gu��ni;y Tx1zs� Coo 308� $2�G00,0� $5400� � i of P1eYr York and Salca�.o� 3,8;yo 1�000,C}CuJ 27o0J ' � Bro�hex•s and Hu-�z?ex _ : .' . _ ,. 3.83`� -- ,. ` :. . _ ..l'251'000 '.: . .. 33°OJ R Bank of Amer?ca,, N, To'F;, S, A o - ana,.Firs�_ITa;G;.o-�a�. ��.-�y B�� 3o79h $4,25�.,o�,ro . $�.6oco � . • ; . ; � Nox�hern l�us�� Cc�any and Ao � ` Go Becker and Cc:npw�;I, Inco 3�7�`� $�+,251,0� $970� 4 ` ' . � � j • _ . ' . . „ , • F1YlC1 - • ' . - - . • WHER.��Sy the interest cost a� wh�c� tho Loc� F�ibl.ic ,�g�ncy can seL�� . t�ho PrelirrzixYary Loan T�o�e� �� oY�er than tho �.n��res� r�.�o t�r3L�Lch tho �ovez°ris�on� ; ie requirad to clz�xge �.he Loc�1 Public A�oncy undor the te�-ms of th��cn��.,�� n��". Conti•act9 �nd tha Governmon� is de�i�ous o� cooperAtin� i:�i.th �the I,oca1 I'ub��.a � ligency in its endeavor �o sa17. s�d Proliminary,Loan Notes �.n ordo� to roduco c�z��= . ; ' ing chArgos and o�her costs o� �he Pro�ec-ta , �• - � , - � . . i BF IT RL'SOLj'FaD BY r ��• r i n r � 1 r. � t '' �ri i-�� .�i�l� • r �l• JSa"�E?f�;�,C1�'�;�1.E�x.rL1.S:�c�-y..��E'�..aa?'�.._ '� tc�-..�....+w. � ;� i'O1.+X,01'Ta 8 �.n'�'�L€',��-�Of�ru�11Z.• 1i , aS.Cta� .�.....,...�.� � Soc'tion ?e The afor�sa-Ld publication Qf the Notica of St�So ancl the��oxm �ald '- ; con�ents thereo� as eo publ�shod9 ai•e heroby� in atl reapoct�9 appi oved� ?'�t,3��od � • 8nc1 conf'irmedo � � : ..:. . • . _. : - , - .. . � . . � , Section 2. In orc�er to provide� funds to dofray a,'cpen�es incurred or �o be . ; 3_ncurred in t�io 7.,oc�1 Public Agency's �t�nder�aking a.nd carx�y.;.ng ou�•of �he �ro�ec�9' ; o� to re't:Lr.�, reiund, ronex or extond its ou�sta..ndin� notes issued in cor.uzoction � ; �.hez•ewl�h9 fi�ho Loe�1. P�b1.ic Agency hez•eby cia�orm-lnos to borrot� ths sr�m of Four 2�fil?3.o�z ' T��ro Hunc7red Fi£c;,r C�ne Trou��ndc++n.z�auce.cx�a�atauoa.raocar.om.�;.ca Do�7.�rs (f�f�27�,0�0� { and issuo i.ts negotiAb?e Prz.l.j3ninary I,oan Notes thoro�or in Agp,'T`�P',8tfl pi•�.nci p�]. � � aiuoun� equE1. to s�i.d eumo Fj . . ; � Section 3.' The Local. Publi.c /lgency horeby ratifies and �pproves ths foi,n of � � �ho proposaL horoi.naite� in this Section 3 enunsrated, f.or tho puxch�.s� o� the � designai.ed principal Emount of tho Prel.imin�y Loan Note�� which propos��:]. tho i • i • � ' .. 2 .. � , � � HUD-3080 (11-65) i� . ; � , . .. _ _ . • ..,_ 1 � . • • . . (I , . . e: ; { � o � ( t ' �� , � ,. . , • • . . . 1 , . � � Loc�.l. Publia �'�oncy heroby dotoz�rn�.nas rri].:1. pro-trido the �owost iri�oi•oet coe� - and �.o thorofax•o horoby �coopt;od9 tuid e�i,d ProlirLinary Loun tlotos Fu�e ho.r�by ; � aY�ardod bo ua:l.d pux�cli��or, a� folloi�rss ' • Pa�inej.p�. Intei�os� �.]UOL31L Rat� .. . . � -� __ . , a_: :_Purchaeo�• � , .s.�....�....�. ..,.�.._.r.�..�. �.,.._ , ; �4,25�.,�ooG� � 3,71� Nor�'szern 2'rus-L CcA��a.*�y . � � , . and �a Go Becker a.nd CcFap�ny� Inc, ; , . 50 South I��Sa11e S�ree'c ' ' - � Ch3.ca�o, x7.13.rsays 6000; � - , � l - � . � ; � . , . � � . - r i • ' . � � � . - . 1 ' . . . , i • � ' � . - I . . �, ..`� _. _ .. � = -- • ' ' I � _ , . . : .�. .: .. .. '_ . ; � � . . ; � ; _ , ` F Sec��a Fx^.ch auch r.o�� eh�?1 be da�od tho ZiE�h ` d�y o� ; ; . Janii�?�y , 1!9 69 3 ��la� be c�o�ignatecl r�-i,eL�!.�n�y Lo�n No�.� . I r11'S��'�°"�Sea�°��;`.� G " shal7 bo P �+b1.o as to both rinci a1. axa�. . �_-.e.,m.,.a.a..� .s.a.�,.�...::�• -3 � 3� s P' P ; � .';� �.ntores�i,�-'co beaT�ox9 on t}ia •� ],Z�h day of Ju1.: � �.9G.c�._.3 ; ' � t�td� �7L�1f71?�11v �o �ha propos�' for.the purchasa�o. 's cl no��os-S—hsre:Ls�Abova---.- , � n.�ccep�oc19 �n�1 baar the ra�o of in�sres� pe-r an.m.xr1, pF.�Y�.b?o �.� ma�urity, f j eh�11 be�° �he ntsnbor�9 bo �i the donoraination�� nd bo p�Y�ble as �o bo�h ; � pr�aa.pa'� r�nnd �n�e�as� at t�ho bz*ik or �rust oorr��ny as fo�lorrs: � " Numboz•a . In�orest � Pu�c�� Znclus�.va) D�non•lna�tons Ra�o M P�yab�o d-c � Nor'chex� Tx1zs� Cc�� l b 33 $laJ,C4,^0 3,7J p 1�'ortihe-rn Trusi; Cc�nany p�ny �d A, Go 3� � �+�+ 50,d� 50 So I,a5aJ.1.e Stre�� i 8��_c:a.� �nd Cc�rpary, �+5 b 5� 25,(� Chic�o, LLti.nois 60603 : Inco 55 p 64 lo,G00 � � ��0 So LaSa13� S�cree� 65 � 7� 5,C00 � Chicago, I11.o 60003 75 p . 1,ocY� � �' 3 '" - . HUD-3080(11.65) i . � � . _ _ ' � • ' . i . . . i , � .+ � � • . •, . .i - .. . ' '- I , i � Nono of the Prolirrunary LoAn Notes shfil.l bo val�.d until after the U�ink or .- trust cornpFU�y at which it is payabl.o ah�J.1. havo si�ned the ��reoment� appoari.n� ' 'on Qach such note, to Act as paying a�ent theroof. Each of the Prelinil.nury � Loan Notes shaL1 be si�nod in the nFUrie of the Local Public A�ency by thv Cha3.r�n of tho Local Public pgency �.nd , s�'ial'J. havo th3 corpora.to seal of the Loca]. Public A;ency impressed theroon r.nd �� attest,ed by the Sec•�e-csry o::�ss�stan•i, Secr�•car-,� thereof, and said o�'f�.Cos�► ; � aro horeby �uthor�.zed and direc��ed to cause said notes to be properly e�:ocu�odo , ! . � �� . • _ . : , , . . . . . � � - . � � : •• - -- � Section 5. • Each o�' the Proli.minary I�an Notes sh�all bo issuod in ' � subst,Ant�.ally the form of the. note hereto attached and marked Exhibi� "I��o ' - --;.. .._ .. . � _.. .. � ' _ . ' Section 6a The 1'.�reement entitled "Requ�.sition /�greement Na. 1 � � ; (hez•ein cal_l.ed the "Requisition Agroement")9 �rhich has been executed by t� . � ' off�coz•s of the Loca1 Publ�c �:gency, and has been presented to a�-�d road , ; before tha meeting, and the execution theroo�'� are hereby fully r�ti.:fied9 � , ; confix�rrted, and approved, Said Requ�.�ition A�reement9 uhen executed by thb - ' . Government, is hereby dec]_ared t,o be and is hereby assigned by �he Loc21. � , Public Agency for the benefit of the ho�der or. holders from time to time of . � the Pi•eliminary Loan Notes, and the px.oceeds of tkie Project Temporary Lo2n { Note executed pursuan-� to Sec�ion 7 hereo�' axe heroby irrevocably pledged , first, to the payment, at maturity, of the principa.� of and intei•est on the ' Pi•eli��.nary Loan Notes� issued pursuant to this Resolutiono � 4 . �� ' � ' � , • Section 7. The Ch�,��an and. Secr�,��x� o� � � Assas•�c�n�Secre•c�ry � �of th� ocal blic gency are hereby authorizecl � # and directed to prepare and execute the Project Temporaxy I�oan Note doscribed � . in the Requ�.sition Ag�:eement (the issuance oi' �rhich has heretofore been , � � authori.zed by a Resolut�on Authorizing the Issuance of Certaa.n Pro�ec� Tempowasy � t Loan Notes 9.n Connection wi.�h Pro�ec� No. _ Aiinn� ft�4'� and Pxoviding £os� � � �he Secur3.�y for tlie Payment Thereof, and f or Other Furposes, duly adop��e il��b�� i i tha Loc�� Pvblic Agency on the _3].s•c day of JtLl,y , ]�9�8�j, ?..�i �iio . ' ; princ�paJ. amoun� of Fouz• b�:17..•�o:z 'i'h�aa Htzn�rzd Set�e?i•c;�S�ven m�ou��.nd��m�9�� [ ' po�4wec�oa.csr+me�oanueaoao�a DD�1C�.7�rg .� ��'�,1 �vVYpVV�} 1 . � - . Sa.�.d note sha11 be ; -I �es�gnated "Pro�ec+,, Tempoxary Loan Note".; sha11 be numbered Number 2 ; shatJ fbo dated the ��- ��h day of J�sti�ry , �.9 6g ; sha11. bear interest fro,�, , � the da�;e of the acceptance of the I,oca1 Public .�gency's doli.very'thexeof and : � the payman�t therefur by the Gove�.�nment; shall bear a stat,ement at tho foo� ! theroo� in subs�antially the fol�.o�ring form: E . . �' = ��Del.ivery of �.his no'te was accep�ed �nd payment �therefor : 1., V� . ma.de on t,he� day of _ � 19 -� - `"'" , . . . ' j � -- - . . _ . , . - . � :l ' .�- •' •--• . ---- • `��1 . � ' — _ ' C;. .. ._ _ �. # UNITED STATES rOF!A2�.RTCA ' '' '` ' � . ' • . - ' • , r { • Secretary of Housing and Urban Developmen�c , . � � � . - •- - �" .,_. . i � � ' - � . • n � . ��Y t1 e . �! _ � � ' • HUD-3080 (11-65) � , . i ' � • . ••- - . - � _.. E " ° . � '� � , ' � .� • �- i � ' f � • , � ' • ". � 4 �.nd shal]. not bo v�ttd until said statomont is duly oxecutod on boh�� of � tho_�ovornm�nto Said Pi•o�oct Temporazy Lo�n .Note shal.], bo do].�vorod b� 'c�io t F:i.n�nce Os°i�cex of tho Loct�7. Pub?��.c A�uncy to ; . le ovoxzvnoiit�o ��e �d an p� d ior by tho Govornment i_n accorde�r�c� u�.t•h � f�;ic� �erms t�nd eonditions contai.nod �n eaid R�quisi.tion .Agreomeni,. � � Sect�on f3. The pr�coods dorived �rom the sale of the Proli.mi_nn�°y J,a�„� { Notv�9 to�othor with such �mount of othex appropr�.ate fund� of' tho Loo�_1 i Pub].i�c �!�oncy as m�y bo necessary, sha:11 be �pp].ied� simultttnoou�ly �i'ch i��a ' 2•ece�pt; o�' sa�.d pz�oceeds, as follos•rs: , + • � FYx•��t To �he payment �nd cL•[.schaxge of the principal o�' • � � _ and interost on the fol:l.owtng Pxo�oct Tenpor�ry ! Loan PJote� of th� T c�i �ubl�.c 1l��enc ioa�.c�c� er�f�:.�:��t�y , o Y ; ' pursuant to the�L�o�uZ �:.�-?_�'_:::>:�Conl;ract ur:d heJ.d ' . • or to be held by fi,he Goveznmont for its oYm ueo . r . • and bone.fi� on the date of tha Preli.miii�ry I��.n _ ! � Notes herein authorized: � ; � ` ' • Fr3.nci�� . No. Date � Anot�t { _ - — . �, . -- 1 9/i9/68 � $2,�o7,cooaoo . i . . � • . � . , . � ; . � . . � , - . . 3 ' ' - � . � . - . � - , . . . . , . . . , : + , . , _ � Secor_da An,y bal�nce of such proceeds sha�.l be �epos{�sc� - � 4 in the appropri?-�.,�mv��ou�t_ or �u.nd es�ab?islieci ' pursuant to tho��o� �z a"�=��Contract anci sh�.l. ' , be u;g�,c��;l�,�in accoru�nce h�th the provisions �.f . 1�# the��o�a�Z=sla..r�''�•.b�.�� Con,txact. � - ; � '� � Section 9 o mhe F��.nce OfFicer �.a }1g'lAby � Authori.ced anct cL�trec�ed to send i.�run�dia��ly a le�tsr to each p�-ing �g�n� ' ' for the Prelim3na..�+�y Lorxn Notes in substan�ial.ly the �or,n of the �e��r ob i Ins�ructiono here��o a�tached' and marked Exhibit "B" and to tran�mi� �ii� Pre1�n:Lnary Lo�n 2.otes to said payin� agent Sor delivery and p�rnen� '!n , accordanco �rith the terms of said lettQY�. - • + Soction 10, This Resolution shatl ta?:o af�fec� 3.mmadiAt�],y. i . ' , _ 5 _ . ' � 221664-P . � HUD-Wosh., D. C. ' HUD-3080 (1 i-65) � - . � .. �.a . �a . .. � . \ • f � - � � ♦ . (.J .� J. :; HOUSING A2;D R�D�VELOP�ti ENT AUTIiORITY �� ' , `�' • ' ' OF T[i� CITX Or SA j� 1i ,��,TA � I� - � �' ! . • � PROJECT TEi�'1POr'�RY LOAN NOTE (ESCRCf�•!) '' , i'"�. ro�u �o, 2 ,_ Frofeot h'o. P1inn. R-47 " � � � - - � 4,�77,000.00 � �' � Housing and Redevelopment Authority of the City of Saint Paul, M3nnesota � (nare:.r: ca_led t�� "Lacel Public �;en..y" , for va.lue reoeivod, hor�by pronisos to p�y, but so e];� ;�cri tno P:o�oct �' iempo:ary L:,an Rap`,yman� F1md.hcroinaf�or montionad and not other�viso, upon domand, to tho Uni'tod Statos of Anerica or oreo:�, �h� n,.m oz Four Million Three Hur.dred Sevent Seven Thousand---------�_�__.._o_e_o_.. , D�L�:..�5 ($�! , and ut suoh tima �o �}r, but sole�y t�^om said "elmd and 7oL ot'r.ot;=so, in�e,ast � } . follo;5;s�,, ira� t.a cato of t.s acaeptanoe of dolivery of and tho p�yment for thie Noto, at tho rato o'r ratca as � i < - . F;a7 e.7c �t�cr tl:o flato of acoo ry p�ymont for this Ir'ote tt+ro�;h tho noxt � ' � �✓snoo of dolivo of and _ i�ediatel;� succoadir� ,hmc 30 0: Ihicombos 31, as tho aaso mcEy bo, tho rato shall not ex000d si:. poroant 1 i • (6;�) por r.nnwn, but o�herf,�sa shsll be tno highor of: . . . � ' �. ' ' (a) Tha "goir� Fadnral ra�o" dotonained �eu�nt to tho " p provisions of Titlo I of tho Eousin�, Aat of 1959, as amended, tichich is in effoct on �he date delivory of this Noto is aocoptod aztsi p�ynent � mada tharaforj or • , . • ! • (b) � :a�e por anni,,.-a eGual to tha avsra.ga yield to maturity on all outstsndir�g obligationa of tha � ` iMitod S�„avas havin; a ::at�sity of appro;.inate�y fivo yeers f1�om the I�iy 1 or Nwambor 1, as tb9 ' casa rr,;.J ba, na:ct p:ecodin� tno date delivary of tnis Note is aoaeptod and payrnont m�o therefo:•, - . es dater,nir.ad by tne Socreteuy of Housing and i�ban Ikvelopmont upon the udvioo of tha S3cr�ta.�y � or tr.s 44�aasur�,/, such a�rera?,e yield to be estima�ced on the basis of daily closing merket bid • quotations cr p:ices fo. tna month of May or Novomber� as the aase m� bo� next precedir� the data ' deliva:y of this Note is eucep�ad and pqyment made thnrefor� and adJusted to tho nearest 1/& o: I percon�. . ` Fron and a;tcr t'r.a danuary 1 or Ju];� 1, as the caso m�7r be, next suoceoding tha dato of euceptanoo of ' ds�ivor�r of and paqment for �his Note, the nrincigal s�n shull bear interest on tho wuepaid prinoipal , eur.o�t tho:aof at a redoterminad rato (to bo dul,y noted beloTr on behalf of tho United Statoa of �Jnzrlca)� , xhich snall bo initially detcrminod and b000mo effoativo on said Jam�ary 1 or Ju�y 1, as tho caso mqy be, �nd s�all bo suacassivo]y rodotgr:�inod at 6-month intervals thoroafter on Jcu1u:..t^/ 1 and July 2 of oaah . ' qeAr; End e�oh suah redeternined rate shall beoome effeativa, Mth rospoct to pc�ments un:op2ld on tha - de�a irr,odic�oJy preoudir� tno effeativo dato of such red�terminod rate, in aacordanao with tho follos�5.r�,c fo:raula: ihe redotarni.nad rata shall not exooed six percent (6;S) por annun, but otl^.oraise sha17. bo tha � higi:e:- of: . • , + �, � " �s) ��:e °going Faderal rate" detsrninsd pursuant to �ho provisions of Ti�lo I of the Housi� Aat of ' 1949, as aTSnded, and �ffoativa on the effeatiw date of such redoterrain�d rato; or � � (b) A r�t� per ennt..-7 eq�:3, to tha Avorago yioid to muturity on all outs�anding obli�ations of ths � United S�ates kLVing a n�t�mity of npproximote]y fivo yoars f�oo t`�s ��,y 1 or Nove�ber 1, Es :he � easo r..;y b�t n�zt o:oce3ln; the offectiv� date of suoh ndo�ermined rato, as doternir,od by tha Sec'ret-�vy o: Housing z-�d 1,Y�ban Davelo�ent upon the advioo of tho Sacretary of tha i:a&s•�sy, I �.voh avora.ga yield �o be estinated on the basis o: dail;� olosir.g c.:rl:et bid quot�tions or pricos { f for ihe monLh of I"�y or N�vamber as tha case nay bo, next precoding the effeative dnte of such � 2�dore.minod .at�, �nd ad�ustod �o the noarest 1/8 of 1 paraent, Bo h the p••ino ipel of �nd interas� on thia Note aro payable at tho prinoipal offioo of tho Local ?ublia 1 eh�;� ;a � � �� aint psul, Minnesota , 3n any ooin or ourrono.y oi' tna L.T'�ite�d st�t�s ; o� ..r,�er�ce��nzc.1, or. ti:^� ac�e oc ti p�yr,ianti o � pr no pa o an erost on tnis Note, is legul tonder for tl:a ' p�:ymcn� of publia �:d privzto dobts, • _ , � . Tni� fiu�e is issued purs�.nt to�tho provisione of (a) tha Constitution and la:r� of tho S ta te � of Xiinnesota including par�ioularly _ the Municip�ousi g ai� � e eve o�,nent ct. G aQter �a�as of �9tF7, a� a�e.�p,� � � � �t��h�solu�ion du);; e^opt�d 'oy t'c.a Loc31 i1:b110 l.3ency on the f�t�l d�y of u uSt , 19�� g� �^c:idirti, :or �^� issL�^.c� of P:oJoct �pQ rary Loan Iiotes (harein alled the "basia 'oto Rosolution" and (c)��endec ,F neso2uyion likc;r=se ac:op:a:? on tw: �Uth , de�y of DeCem��Y , I9 6� , pr.oviding fo.�the issu:;:ce o; ::'+is p�::�ic�.l� ;;��,z; er.d �ha p,00ee s r.ereof Qre to be, use��o e r;y ex�ans�s and costs involved in �::a I,ocal 'r�:51io A�ozayts �,:,co�`;,,:'.{i:�? ar3 cerry±r;; ou� of a aertain urban ren»rnl o: redevelopn�nt rro,�oct oC tho ch�.ractar au�,a:iz�d by :a.id leti� a,-�d des�.a�od F:o,jcot 230. , Xnict► is more f1a17,y idontified in the b�sia `ct� ' � Faso_u:ion. Seid ?:oJect for F::11Rt1 '�:1�5„oce i�s��., �ng assis�ed by tho United Statos oi A;,erica ptrsisn: to ii��o I oC tia� 'r'ousirL; �ct of Z949, as asbndad �42 U.S.C, 1450 ot seq.�. L?;d�r t::e basic �ta Raso2ution, tr�re is est2blished a se�arate end sooalal fu�d therein rufer.ed to es tha � • "F:ojec� ia-�po:a.;� :,oa.-� p �y-ient 'rL—.d" in r.hioh are r,-uired to be deoosited cert,s.irt roney s, thareia cesc:ibod, as a:� v;.^.2n �:-,a s�„o a^a :ace�vad by t�.a Iacel �lic �e:cy, cnd this :iote, �o�etrer ��n all cth�r no�os issLOd � oti�u=^.� ;,o t�o basic ?:�� Rosoiutier., oonstitu�o, as to botn the prinoipal thereo?' and tho interest t�,araun, �s eaclt;ai:-c :'±;s-; lian a-� c��rga upoz :zid Fk..-hd� �iliah F�d is irra�oc.=_bl,y pledFzd to tir p�y,nant oP �ho prinoipal cf ard ir.�e-esi; oz �nis :�o�o end all a-i'r.ar no;.es �,aioh e.-a isst,�d Ps r�.fore��ti�t . r�QC21 t_Liblic �,�er_c �� r �;•" v •,+•,,r•T� � ' ;:11s \o�n sh.:ZZ no: consti�ute e cett or indabtedr�ss of t�o .r'i�_�;;fi:.lY;�t:'�;�;.,.,: ,,,,,i�:.�y,Xp��,,,r., --r-�rny,.,; , �M1-s�==`^+=�=-"--�-'�'-=;;{-1=`:.•;�'-:�---.'::•'•^��''=`-.�`•;�i!'�.:;?;.�;�-:�, xithin tho maaning of ar� cons',:itutiorzl, at-,?l?�o'r^,�, locsl `_ 1.^;r', o� c':,�-�e: p:QV15�G:1, keuitio7al szcurity fo-r this i�o�e is provicied by the und�r�aki.n� oi �ne C_�,r �f Sz. �^ui �:i�nr.es�'-�a an �h° revzrse side hereof. • ' ii _S 'rr':'c'.�`! Cc:?i.'r':dil� �C'::CIi��, �;;D D°CLar?e.-'D th�t all uo�s, conditions, and �i:ir�o,s requ:rod to o.tist, rsaaan, ar.d b� ��:-:�r;:�u pr;:ccdent �o ar.d in ��;s issuanoa of this ;Iote do exist, havo hanpeaod, and hava bJ�71 periorrad in d�,ro t±r:�, fo�,a, c:,d renn�r ss roquLad Sy l�;r, IA: .�^�SS n^:�'r.3ti?� �'.3'LdC£.I ��lio �:�anc�• tus ecu�eC �'r,is ::o-a ;,o ba si�n od ia i:s na�a and its a�al to bo ±a�:c��•-� 'r.�:�cn �;� a;,;�,sted, by its p�cpa.^ efi ie�.^s tna:ot�,�o du]y �utnorizod, and tnis �v'eto tio b4 daCad tr� • - � ��+th ze,yJo: Jenua�'y , 19 69 . . ' (� � � HQU�It�G AIVI? REDr,V�IAki��iF�•�UI'FIOR.T,TY ..c�?1 OF T'�IE CIx'� OI' S1�:I�1`P PE�.UI�; 2•iT�"NTi��Jit1 � . .�--- , �::�s:: . � ' C:i�,IP,MAl`7 � : S�y1ZrTA�'.v . ��1=•._:J c.^ ..._� :;��.. ..._.. ,^,.ccoptod ..nd p�•,��:..nt 'ixcrofo: rr..^.da o� tr� d�,y, of Y___,_� 19_.�. � - I^a^::•'•�-s��.,1� .—. . ..� Ut1:ti:��D S'1'A`r��,; G:' A?��RiC'� ^ •. f _.._.--_:�/' --�� .:'ot:,;:1 � � ].9 5ecra:ar� Of �:GtISJ.I1� c1;l:a tlY'��;1:? r;GUC.'.�iG�,:� �:� < < :r.r:.__---' ;,, tk��oi�';n � lg n� . . � —� �_____ ;':..:�._:..._ �._oc 1z , 19 — �— _..__ � j� L—---- _ -- , �__._.�..—____._�_.__ y ��_�___,_..�_�. _._.._�.�.-�_EXHIBIT A � , � .� r, . .� • . , , , , , � � • � - � Undertakin� of the City of Saint Paul, Minne�ota f . . . - t � As additional security for the payment of principal of and interest on � this Note and a11 other Notes which are iESUed in accordance with Ch� i terms of said Note, the City of Saint Paul, �finnesota, for good and � � "" -' valuable cons�deration hereby agrees to pay said principal and interest , ; in the even't : the funds on deposit to the credit of the Project � Temporary Loan Repayment Fund, ref��red ta in said Note, are insufficient , to pay the same when due and the C3.ty af Sain� Paul, Minnesota hereby t pledges its full f�ith and crediC for such payment. This undertaking �- i is ma.de in accordance �aith and pursuant Co the provis3ons of Section 305 of the Ternporary Loan Contraci: (Early Land r�cquisition) dated � July 20, 1968 bet�ueen the Housing and Redevelop�ent Authority of Che : City of Sain� Paul, Minnesota and the United States of America, iden�ified ; as Contract No. Minn. R-47(TL) for Projec� DSinn. R-47. _ • CITY OF SAINT PAUL, rIINNESOTA , � i By � Mayor I. sy � c Zerk � (SEAL) } � , � ; � Countersigned i � � i t By � ' t Controller . � . , . - ,r- i - i � � � r • i i + ' i � , { , . i ft 1 ` ' F t 'r : I •. � � �'_ 1 _ �. � _ ' ' _ . ._ . c