05-1151�
COUNCTL FILE �: � J� ��✓I
GREEN SHEET #: 3028948
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RESOLUTION
CITY O�'y�NTjPAUL, MINNESOTA
Presented By:
Referred to:
22
Committae Date:
WHEREAS, the Saint Paul Ciry Council, by its resolution CF-OS-954, authorized the sale of revenues bonds to
fund the re-construcpon of the Highland Nationai golf course, and to pay down the debt on ihe 1996 Rice and
Arlington Sports Dome bonds; and
WHEREAS, said bonds were sold on October 27, 2005, and resulted in revenues in the amount of $7,461,295.45; and
WHEREAS, the goffcourse reconstruction began in 2002 and was financed in the interim with an interna] loan from
Fund 070; a portion of these bond proceeds will be used to repay Chat debt along with the associated interest, and
WHEREAS, these bonds were originaliy pianned for sale in 20dfi, but the timeline for the sale was expedited to take
advantage of favorab(e interest rates in comparison to expected future rates; and
GVHEREAS, the planned 2d05 internal laan paymenf of $475,000 has been incorporaCed into this repayment plan and
wilt be combined with the bond proceeds and used towards the elimination of the internal loan debt; and
WHEREAS, the remaining debt proceeds will be used towards refinancing the 1996 SporCS Dome debt, atid
for payment of remaining outstanding golf course consYruction items; and
WHEREAS, Pazks and Recreation desires to amend the 2005 Specia] Services Fund 325 to accounC for said
bond revenue and to establish an appropriate spendiug plan; and
WHEREAS, the Mayor, pursuant to Section 10.67.1 of the Charter of the City of Saint Paul, does certify that there are
availabte far appropriation, funds of $7,461,295.45 in excess of those estimated in the 2005 budget; and
WHEREAS, the Mayor recommends that the following additions be made to the 2005 budgec:
CURRENT AMEN
FINANCING PLAN: BUDGET CHANGES BUD�
325 - Special Services' Enterprise Fund
23108 - Highland National / Dome Debt Account
6201 - Bonds Issued 0.00 6,794,545.45 6,794
7499 - Intra-Fund Transfer O.Od 475,000.00 475
0.40 7,264,545.45 7,26�
SPENL7ING PLAN:
325 - Special Services' Enterprise Fund
23 t08 - Highland Nationa! / Dome Debt Account
0538 - Repayment of Advance
0566 - Transfer to Enterprise Fund
0601 - Cost Of Issuance
0609 - Cost Of Issuance - Legal Fees
0614 - Other Interest Expense
0799 - Intra-Fund Transfer
0.00 3,955,500.96 3,�
0.00 3,t 16,720A1 3
O.OQ 73,500.00
0.06 27,077.14
0.00 14Q649.86
0.00 16,097.48
0.04 7,269,545.45
G:IFMtQTIWrrka4Resolubons, AOs, 6reen Sheefs}ResolutronslH�ghland Nabonal Dome Debi Resolutron xls Page. 1 of
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RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented By:
Referred to:
COUNCIL FILE #: �� � �� � �
GREEN SHEET #: 3028948
Committee Date:
42 FINANCING PLAN:
43 325 - Special Services' Enterprise Fund
44 23110 - Highland Nat. f Dome Debt Service Reserve Acct.
45 6201 - Bonds Issued 0.00 666,750.00 666,750.00
46 0.00 666,750.00 666,750.00
47 SPENDING PLAN:
48 325 - Special Services' Enterprise Fund
49 23110 - Highland Nat. / Dome Debt Service Reserve Acct.
50 0621 - Bond Principa] 0.00 666,750.00 666,750.00
51 0.00 666,750.00 666,750.00
52 SPBNDING PLAN:
53 325 - Special Services' Enterprise Fund
54 23118 - Highland Nationa] Operating
55 0538 - Repayment of Advance 600,000.00 (220,000.00) 380,000.00
56 0744 - Intra-Fund Transfer 265,265.00 220,000.00 485,265.00
57 865,265.00 0.00 865,265.00
58 SPENDING PLAN:
59 325 - Special Services' Enterprise Fund
60 23121 - Golf Administration
61 0542 - Street Maint. Assessment 12,603.00 (12,603.00) 0.00
62 0542 - Public Improvements 10,000.00 (] 0,000.00) 0.00
63 0543 - Storm Sewer 32,000.00 (32,000.00) 0.00
64 0829 - Other Self Propelled Equip 128,265.21 (100,397.00) 27,868.21
65 0882 - Land Improvements 102,000.00 (100,000.00) 2,000.00
66 0799 - Intra-Fund Transfer 265,265.00 255,000.00 520,265.00
67 SSQ133.21 0.00 550,133.21
58 FINANCTNG PLAN:
59 325 - Special Services' Enterprise Fund
60 23] 16 - Highiand Nationa3 Reconstruction
61 7499 - Tntra-Fund Transfer 0.00 16,097.48 16,097.48
62 0.00 16,097.48 16,097.48
63 SPENDING PLAN:
64 325 - Special Services' Enterprise Fund
65 23116 - Highland National Reconstruction
66 0882 - Land Tmprovements 240,310.92 16,097.48 256,408.40
67 240,310.92 16,097.48 256,408.40
68 FINANCING PLAN:
69 326 - Rice & Arlington Sports Dome
70 23131 - Dome Debt Service Account
71 7302 - Transfer from Enterprise Fund 0.00 3,116,720.01 3,116,720.0 ]
72 0.00 3,116,720.01 3,116,720.01
G:IFMIQ71WirkalResolutions, AOS, Green SheetslResolutionslHighland National Dome Debt Resolution.xfs Page: 2 013
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COUNCIL FILE #:
GREEN SHEET #:
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
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Presented By:
Referred to:
SPENDING PLAN:
326 - Rice & Arlington Sports Dome
23131 - Dome Debt Service Account
0611 - Long Term Debt Interest
0621 - Bond Principal
Committee Date:
3028948
336,905.00 (155,000.00) 181,905.00
0.00 3,271,720.01 3,271,720.01
336,905.00 3,116,720.01 3,453,625.01
NOW THEREFORE BE TT RESOLVED, that the Council of the City of Saint Paul approves these changes to the
2005 budget.
Requested by:
Division of Parks and Recreation
By: .��X_2_.�1 )
Approval R�mended by Fin cia] Services Director.
Date: �ir��..Yt�t ih��ODS B Y� �
Adoption Certified by Council Secretary
Approved
Date: / ,�— �
Form Approved by City Attorney
Mayor for
G:IFMIQTWirkalResoluGons, AOs, Green SheetslResolutionslHighland National Dome DebtResolution.xls Page. 3 of3
Adopted by Council:
Fr ��
�
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
PR — parks znd Recreafion
Contact Person & Phone:
.lason Wirka
266&1l7
on Council Agenda by (Date):
ContractType:
AR-RESOLUf10N W/$ iRANSACTION
Date Inifiated:
��-� Green Sheet NO:
� '
Assign
Number
For
Routing
Order
Cf�-�151
3028948
Deoartnent SentTOPerson InitiallDate
0 ar and Recr tion �/�
1 ar aodR tion D ar[men Direct r _�1Q�"(
2 'nan al ervices ce Fin c'al rvi
3 A ome
4 a 's Offic Ma or/Awistan[
5 nc' (.S ouoN
6 r lerk
Total#ofSigna f (ClipA
AMion Requested:
Approval of attached resolution authorizing a spending and financing plan for Recreational Facility bonds issued foc the repayment
of the intemal loan used for the construction of the Highland National golf course and to refmance the 1996 Sports Dome debt.
itla[ions: Appro�e (A) or F
Planning Commission
CIB Committee
Citil Service Commission
[IJH
�_ �T�&�r
�- _ /�1P
Personal Service Contracts MustMSwerthe Following Questions:
1. Has this person/firm e�er worked under a contract for this department?
Yes No
2. Has this persorJfifin e�er been a city employee?
Yes No
3. Does this person/firtn possess a skill not normally possessed by any
current city employee?
Yes No
Explain all yes answers on separete sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
Advantages IfApproved:
Budgetary level of control will be maintained.
Disadvantages IfApproved:
None.
f�C:'' � '�, �q
,. .m �. , � �.�. ..
� �" .)� s �3�`;i�j
Disadvanpges M Not Approved:
Budgetary level of control will be lost.
Total Amount of
Transaction: $7�461,295.45
Funding Sou�ce: BOtld Pf0000dS
Financial lnfortnation: As authorized by CF-OS-954
� (ExpWin)
Activiry Number: Q3108,23110,23116,23118,23121,23131
LeaY"t.�?3 �e'iJt?e� i,�r
1 J Il'
CosURevenue Budgeted: N
rg`� � !,. ' ...c.az . ��u � ..-,.-.� ,-r
Novemd er 30, 2005 8:24 AM Page 1