04-95Council File # ��— 95
Green Sheet # 30 � v � O ��
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented By
Referred To
Committee: Date
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GIVING PRELIMINARY APPROVAL TO TFIE
ISSUANCE OF BONDS
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BE IT RESOLVED by the Council of the City of Saint Paul, Minnesota, that the Director,
Office of Financial Services, Treasurer and other appropriate City officials and staff are hereby
authorized and directed to proceed with preliminary actions for the issuance of the following
bonds, in the following approximate amounts, in conjunction with Springsted Incorporated as
financial consultant and Briggs and Morgan, Professional Association, as bond counsel, and in
connection therewith to prepare an official statement and such other documents as may be
necessary for further approval of this City Council:
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$19,000,000 General Obligation Capital Improvement Bonds.
$2,500,000 General Obligation Street Improvement Special Assessment Bonds.
$4,000,000 General Obligarion Temporary Tax Increment Bonds
$12,400,000 General Obligation Library Agency Bonds
$6,30�,OOQ Sewer Revenue Bonds. .
Such refundings and advance refundings as produce sufficient savings to justify
the issuance of refunding bonds.
Requested by the Office of:
Financial Service5
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Adopted by CounCil: Date ���a��/ "]' �� d�
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Adoption Certified by Covncil Secretary
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Approved lq§ �I�yor: Date
Form Approved by City Attorney
a �,� `6P. ����
for
By:
� Green
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Sheet Green Sheet Green Sheet Green Sfieet Green Sheet Green Sheet �
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Departmentlofficelcouncil: Dafe Inifiated:
Fs Ym�cialServices 21-JAN-04 Green Sheet NO: 3010617
Conqd Person 8 Phone: Deuartment Sent To Person 3nitiailDate
TOdd Hu�ley � 0 inancia ervices
266-8837 pu�yn 1 �oancia Services De artment Director
Must Be on Council P�qenda by (Date): Number y ttorn
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E � L/ � Routing � 3 vor's OCfice a odAssistant
. Order 4 oundl
5 i Clerk Ci Clerk
Total # of Signature Pages _(Clip Al( Wcations for Sigt�ature)
Action Requested;
This preliminary resolution gives the Office of Financial Services, Treasury Section, the authority to initiate all necessary acrion
leading to the issuance of the following bonds: $14,00O,OOQ C:O Capital Impiovement; $2,SQ0,000 GO Sheet Imgrovement Special
Assessment; $4,000,000 GO Temporary Tax Increment; $12,400,000 GO Library Agency; $6,300,000 Sewer Revenue.
Recommendations: Approve (A) or Reject (R): Personat Service Corrtracts Must Mswer the Following Questions:
Pianning Commission 1. Has this person/firm ever worked under a contrad for this department?
CIB Committee Yes No
Civil Service Commission 2. Has this person/firm ever been a city employee?
Yes No
3. Dces this person/firm possess a skill not normaliy passessed by any
current city employee?
Yes No
Explain aII yes answers on separete sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Wh�:
The Office of Financial Services desues to issue the following bond issues in the approxunate amounts:
$19,000,000 GO Capitallmprovement; $2,500,000 GO StreetImprovementSpecialAssessment; $4,000,OOOGOTemporaryTaxincrement;
$12,40Q000 GO Library Agency; $6,300,000 Sewer Revenue Bonds; refundings and advance refundings as produce sufficient savings
to justify the issuance of refunding bonds.
AdvantageslfApproved:
This resolurion is prelixninary as it only authorizes staff to begin this bond sale process. A detailed bond sale resolurion calling for the
sale is planned to be presented to the full Council on February 2004.
Disadvantages If Approved: �
None.
Disadvantages If Not Approved:
Without a preliminary resolution, the staff would not be authorized to inivate necessary action leading to this bond sale.
ToWI Amount of CosURevenue Budgeted:
Transaction:
Pundin5� Source: Activity Number: �
Pinancial Infortnation: ��"°" � � °����
(Explain)
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