228019 'Oii¢inal to City Cierk •
r�
f . - ; - � ORDINANCE ��;+���
' - COUNCIL FILE NO. �
PRESENTED BY ORDINANCE NO. ��'�
�
r
An Ordinance, authorizing the issuance of bonds
by the Port Authority of the City of Saint P�aul in the
principal amount of $1, 500,000.00� over and above the
amounts issued under Ordinances No. llgl3, No. 12166,
and No. 12287� for the purpose of securing funds as
needed for the payment ,of the cost necessarily incurred
and to be incurred by said Port Authority for the
acquisition of� property and other purposes in f�.rther-
ance of its program of port and industrial development� �
in anticipation of the receipt by said Fort Authority 5�
of payments, appropriations, rents and profi�s and of
ineome. from other sources ; prescribing the form and
details, of such bonds ; and authorizing said �ort
Authority to pledge the full faith, credit and resources
of the City of �aint Paul for the security of said bonds .
WHEREA�, the Port Authority of the City of gaint Faul
by its Resolution No. 340, dated March 22� 1g66, has requested
� the Council of the City of Saint Paul by ordinance to authorize
' the issLa nce of bonds by said Port Authority in the aggregate
principal amount of �1�500,000.�0� for the purpose set forth
in :said resolution, a certified= copy of which has been presented
to the Council and is now on f�i�le in the office of the City Clerk,
all pursuant to the provisions 'of Section 458.193, Minnesota
Statutes 1961; and
� WHEREAS, the Council of the City of Saint P=aul, being
duly advised in the premises, finds and determines that it is
necessary for the Fort Author ity to issue and sell said bond.s -
in the near future for the pu�zpose of secnring funds as needed
by it to pay the cost of property acquired and for other purposes
in furtheranee of the program of port and industrial development
referred to in said resolution, and .authorized by Minnesota
Statutes 1961, Chapter 458, as amended, in anticipation of the
receipt by the Port Authority of payments, appropriations,
rents and profits and of income from other sources , and it is
necessary and proper for the Council, pursuant to said law, to
authorize the issuance � and sale of said bonds and the pledge of
the full faitY�, credit ar�d resources of the City of Saint Paul
for the security thereof, and to prescribe and consent to the
. form and terms of said bonds when and as issued by the Port
.Authority under the authorization granted by this ordinance�
NOW� TI�EREFOF�E, THE COUNCIL OF THE CITY OF SAINT PAIIL
DOES ORDAIN: '
Section l. That� pursuant to and in accordance with the
provisions, terms and conditions of this ordinance and of Minnesota
Statutes 1961, Chapter 458, as amended, authority is hereby granted
to the Port�Authority of the City of Saint Paul to issue and sell ��
its bonds a� authorized by Section 458•193, Subdivision l, of said
Yeas Councilmen° Nays � -' � " Passed by the Counc>> �
' , Dalglish
' Holland , '-
Loss - Tn Favor �
Mortinsan � " '
Peterson � A--oainst
Rosen �
Mr. President (Vavoulis)
Approved:
Attest: .
City Clerk � Mayor �
k
1 D� 8-82 �2 2
Form approved Corporation Counsel B
' . �''{���' PUBUSHED APR 2 3 1966
� •
. M • ����
• , ��,
P-age 2.
Chapter 458, in addition to its General Improvement Bonds�
Series A to E� inclusive� heretofore issued and sold under
authority of Ordinances No� .11913, No. 12166 and No. 12287; and
that said bonds are authorized to be issued and sold in the
aggregate principal amount of $1, 500,000.00, for the purpose of
securing funds as needed by the Port Authority, in said aggregate
amount, in anticipation of the receipt by the Port Authority of
payments, appropriations � rents and profits and of income from
other sources� to defray the cost and expense necessarily incurred
and to be incurred in the n�ar future for its program of port and
industrial development, generally described as follows : �
� (1) The acquisition of waterfront, riparian and
other lands and the construction of docks ,
wharves, piers� dikes and other related port
facilities , both in conjunction with the
Federal government and separately�
(2) The acquisition, development and redevelop-
ment of lands for the purpose of establish-
ing a system of harbor and river improvements
and industrial developments within the port
' `'district, and within the industrial deVelop-
ment district heretofore created therein for
that purpose, including but without limitation
- the developments in progress in the Riverview
Industrial P-ark, Northport and Southport,
and the developments now being initiated in
,� the P'igs Eye Area;
(3) The provision of recreational lands and facili-
ties along the river ; and
(4) Incidental to the foregoing, and in addition '
to the dike heretofore constructed in conjunc-
tion with the Federal government: dredging
and filling, grading and reclaiming marginal
land for port and industrial purposes ; the
development of port and industrial areas ;
� and the construction of storm and sanitary
sewage disposal facilities, water distribu-
tion systems for drinking and other purposes,
streets, trackage, surfacing and other land
improvements, and other utility installations
in those areas.
Section 2. That the bonds of each series issued and
sold pursuant to this ordinance shall bear date not later than..-
the first day of the month in which such bonds are delivered
� to the purchaser thereof; that the f irst installment of each
,,�., series shall mature not later than three years from date and
the last not later �than thirty years from date; that no amount
of principal of any series payable in any calendar year shall
, exceed five times the smallest amount of principal maturing
in any calendar year ending three years or more after the date
of issue of the series ; �hat the bonds of each series shall
be issued and sold by the P'ort Authority in the manner provided
by law, shall be numbered serially, shall be each in the
denomination of a multiple of $1,000, and shall bear interest
.
�. • ' • . .
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• . . _ , ���(�,��
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Pa e �.J ���
g 3• 1
not in excess of 6� per annum payable semiannually� according �
to interest coupons to be attached to the same; that the bonds
, of each series shall be substantially in the form hereinafter
prescribed by the Council and approved by the Corporation
Counsel of the City; that said bonds shall bear such interest �
as the City Council shall approve, and shall be sold in one -
or more series by the Port Authority for not less than their
par value plus accrued interest, to the highest bidder therefor�
after two weeks' published notice of the time and place for
receiving bids thereon; that the proceeds from the issuance
and sale of said bonds � as received by the P°ort Authority,
shall be deposited by it in a fund of the Port Authority
allocated thereto and subject to disbursement only in defray-
ment of the costs and expenses necessarily incurred and to be '
incurred by the Port Authority for the program of port and
industrial development hereinabove described; that all of the
bonds shall be payable in lawful money of the IInited States
-� ` of America at the office of a fiseal agent or agents designated
by the Port Authority, and as security for the prompt and
faithful payment of both principal and inte�2st on said bonds
,f;.,��` the P�ort Authority is hereby authorized to pledge the full
t�ith, credit and resources of �he City of Saint Paul; that
the bonds of each series issued hereunder shall be entitled,
"P'ort Authority of the City of Saint Paul General Improvement
Bond, Series " , shall be issued in series consecutively
designated, beginning with Series F, and the bonds of each
series shall be numbered, epnsecutively beginning with No. l; - _
.�.. that each of said bonds sY�all be signed by the President- of. ._ _ -
: �the Port Authority, attested by its Secretary and countersigaed
by its Treasurer, provided that all but one of said signatures
may be printed, lithographed� stamped or engraved on the bonds,
and interest coupons shall be attached thereto and shall be
executed and authenticated by the printed, engraved or litho-
graphed facsimile signatures of said President and Secretary;
that each of the bonds shall be sealed with the corporate seal
of the P'ort Authority, or a printed� lithographed or engraved
facsimile thereof; that if approved by resolution of the
City Council, any of said bonds may be made subject to redemp-
tion and prepayment at the option of the P'ort Authority at
such time and price or prices and upon such notice as shall
be provided in said resolution; and that each of the bonds
� shall be in substantially the following form, with suitable
' variations as to serial designation and number, denomination�
place or places of payment, redemption provisions, interest
rates, and nominal date of issue:
�
UNITED STATES OF AMERICA "� ,
STATE OF MINNESOTA
COUNTY OF RAMSEY ,
PORT AIITHORITY OF THE CITY OF SAINT PAUL `
�
GENERAL IMPROVEMENT BOND
� SERIES�
No. . . . . . . . . . . . . . . � �. . . . . . . . . . . . . . .
KNOW ALL MEN BY THESE PRESENTS , that the Port Authority
of the City of Saint Paul, in the County of Ramsey and State of
�
� �2�Q�.�
Page 4.
Minnesota� acknowledges itself to owe and for value received �
hereby promises to pay to bearer the sum of . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dollars (�. . . . . . . . . . . ) on the
first day of . . . . . . . . . . . . . . . . . . . . . . 19. . . . , together with
interest thereon at the rate of . . . . . . . . . . . . . . . . . per centum
( . . . . .�) per annum from the date hereof until paid, payable
. . . . . . . . . . . . . . . . . . . . . . . . . � 19. ._ . , and semiannually thereafter
on the first days of . . . . . . . .:: . . . . . . . . . and . . . . . . . . . . . . . . . . .
in each year, interest to maturity being evidenced by and .
p�yable in accordance with and upon presentation and surrender ' • ' _
of the annexed interest coupons as they severally become due•
Both principal and interest of this bond are payable in lawful
money of the United States of America at the office of ,-. . .._. .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , in . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � and for the prompt payment
of this bond, both principal and interest , when due, the full
faith, credit and resources of the City of Saint Paul are hereby
irrevocably pledged.
Th'is bond is one of a series amounting in the aggregate
tothe sum of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dollars
(�. . . . . . . . . . . . . . . ) issued by said P�ort Authority for the purpose
of securing funds as needed by the� P'ort Authority to pay the cost
and expense necessarily incurred and to be incurred for the
program of port and industrial development described in Ordinance
No. ������_ of the City of Saint Paul, all pu�auant to the
�rovi i ns and by authority of Minnesota Statutes 1961, Chapter .
58, and in anticipation of the receipt by said P'ort Authority
of payments , appropriations, rents and pro�its, and income from
other sources, thereunder , and in accordance with the provisions,
terms and co.nditions of Chapter 458, Minnesota Statutes 1961, as
� amended. This bond is issued pursuant to said ordinance, as
enacted by the Council of the City of Saint Paul and duly
�` � signed, attested and authorized in accordance with said Chapter
458, and pursuant to Resolution of s�.��i�i Council No. . . . . . . . . . . . ,
passed and approved . . . . . . . . . . . . . . . . . . . 19. . . . , and under authority
and in all respects in full compliance with the Charter of said
City of Saint Paul� pursuant to resolution of said Port Authority
No. _ . . . . . . . . . . . , passed and approved . . . . . . . . . . . . . . . . . . 19. . . . ,
and in�all respects in full compliance with all a�plicable provisions
of law, including Chapter 475, Minnesota Statutes 1961, as amended.
It is hereby certified and`recited that all things� acts..
and conditions required by the Cons�titution and laws of the State'�,
of Minnesota and the Charter of said City to happen and be done`�
and performed precedent to and in the issuance of this bond have
happened and been done and performed in regular and due form and -
�..�,t:,, time as required by law; that prior to the issuance of this
bo.fld aaid Port Authority has levied for each year, until the
• principal and interest are paid in full� a direct annual tax
� on all the taxable property in the City of Saint Paul in an
amount not less than five per centum (5,�) in excess of the sum
required to pay the principal and interest hereof when and as
such principal and interest mature, which tax is irrepealable
until all such indebtedness is paid, and may be reduced only
in the manner and to the extent provided in said Chapter 458;
that additional taxes , if necessary for the full payment of
such principal and interest, are required by law to be leVied
J �
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�`y � ����
Page 5• ��
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upon all such property without limitation as to rate or amount;
and that neither the total indebtedness of the City of Saint Paul
nor that of said P'ort Authority, including this bond, exceeds
any constitutional, statutory or charter limitation.
IN WITNESS WHEREOF� the said Port Authority of the
City of Saint Paul, by its proper officers, has cansed this
bond to be sealed by a lithograph,ed facsimile of its Official
Seal, to be signed and countersigned by the lithographed
facsimile signatures of its P�resident and its "Treasurer� attested
by the manual signature of its Secretary, and each of the interest
coupons hereto annexed to be executed and authenticated �by the
lithographed fac�imile signatures of its President and Secretary,
and has caused a true and correct copy of the opinion rendered
by bond counsel as to the validity of the issue, including �
this bond, rendered at the time of delivery hereof, to be
printed on the reverse side of this bond, and has caused this
bond to be dated ascf the first day of . . . . . . . . . . . . . . . . . 19• • • • •
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P�resident '
Countersigned:. . . . . . . . . . . . . . . . . . . . . . . . . . .
' Treasurer
Attest: . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Secretary
That the coupons appurtenant to said bonds shall be in substantially
the following fbrm:
No. . . . . . . . . . . . . . . . �. . . . . . . . . . . . . . .
On the first day of . . . . . . . . . . . . . . . . . . 19. . . . , the Port
Authority of the City of Saint P�aul, Ramsey County, Minnesota,
promises to pay to bearer the sum shown hereon in lawful money
of the United States at the office of . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .-. . . . . . . . . . , in . . . . . . . . . . . . . . . . . .�. . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . for interest due that day on
its General Improvement Bond, Series . . . . . , dated . . . . . . . . . . . . . .
. . . . . . . . . . . . . . 19. . . . , No. . . . . . . . . . . .
(Facsimile si nature�) (Facsimile signature)
Attest: . . . . . . . . . . . . . . �. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Secretary President �
and that there shall be printed on the reverse side of each bond
a true and correct copy of the text of the opinf.on rendered by
bond counsel as to the validity thereof, at the time of delivery
of such bond, together with the following certificate to be
executed by a lithographed facsimile signature of the Secretary:
�v��
Page 6. ��
I certify that the above is a full, true and correct
copy of the legal opinion rendered by bond counsel on the issue
of bonds of the P'ort Authority of the City of saint Paul �
which includes the within bond, dated as of the date of delivery
of and payment for the bonds.
� � ; , . (Facsimile signature)
, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. Secretary ,
Section 3. That such bo nds , both in resp ect of the
principal amount of the same and in respect of the interest
thereon� shall be paid by said Port Authority from tax leVies
provided for and authorized by said Chapter 458, Minnesota
Statutes 1961, and from the earnings and all income received
- by said Port Authority from whatever source derived� to the
extent that such earnings and income are determined by the
` Port Authority to be available for such purpose and are not
pledged for the payment of revenue bonds �Ls.sued under
Section 458.194, Minnesota Statutes 1961, as amended; that
said Port Authority shall, before the issuance of any series
of bonds authorized Y� reunder , levy for each year, until the
principal and interest are paid in full, a direct annual
tax on all the taxable property in the City of Saint Paul,
in° an amount not less than five per centum (5�) in excess of
the sum required to pay the principal and interest of the
same when and as such principal aad interest mature, and after
such-'•bonds g�ve been delivered to the purchasers, such tax '
shall be irrepealable until all such inciebtedness is paid, ..
and after the issuance of such bonds no further action by " �
said Port Authority shall be necessary ;to_ authorize the ex-
� tension, assessment and collection of such�`tax; that the
Secretary of said Fort Authority shall forthwith furnish a
certified copy of such levy to the County Auditor of Ramsey
County� Minnesota, the county in which s�id P�ort Authority and said
City are located� together with full information regarding the
bonds of said Port Authority for which the tax is levied, and such
County Auditor shall extend and assess the tax so levied, and shall
do so annually until the principal and interest have been paid in
full; provided that said P�ort Authority may, on or before October
15 in any year, by appropriate action cause its Secretary to '
certify to the said County Auditor the amount on hand and avail-
able in its own treasury from earnings or other income, includ-
ing the amount in the sinking fund, which it will use to pay
the principal or interest or both on each specified issue of
its bonds, and the County Auditor shall reduce the levy for that
year herein provided for by that amount; that the amount of funds
so acquired shall be set aside by said Port Authority and be
used for no other purp ose than for the repayment of the principal
and interest on such bonds ; and that all such taxes, being
authorized to be levied under Section 458.1.93, Minnesota
.•brl¢lpal to City Clark , •
� --��� �� : - � - ORDINANCE
COUNCIL FILE NO. °�
PRESENTED BY ORDINANCE NO.
✓ � �
� Page 7.
- Statutes 1961, as amended� shall be collected and remitted to
the �'ort Authority by the County Treasurer in accordance with
the provisions of law governing the collection of other taxes
and shall be used solely for the payment of the prineipal and
interest on such bonds .
Section 4. That said Port Authority shall provide for .
the exercise of the authority hereby granted for i��s issuance
and sale of its said bonds� and the pledge of the full faith, -
credit and resources of said City of Saint Paul as security
for the payment of the same, by its appropriate resolutions ;
and that in each such instance said Port Authority shall make
due compliance �ith all applicable requirements of this ordinance,
said Chapters 458 and 475, Minnesota Statutes 1961, as amended�
and all other applicable laws .
�� Section 5. That this ordir� nce shall take effect and
be in force thirty days after its passage, approval an.d
public ation.
��R 211�66
Yeas Councilmen Nays Passed by the Council
Dalglish
Holland � �
Lo��/�����z�� � Favor
�l�
Peterson Aroainst
Rosen �
Mr. President (Vavoulis ��� 2 1 �6�
Approved:
Attest: � �." /� .
k�/ ,� �
, City Clerk� (f M or
lh1 8-82 �22 �
Form approved Corporation Counsel By
PUBLISHED APR 2 31966
DaDlluta to Prtnter -
t
- � � ORDINANCE �2���-� '
COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO. � ��
.�
An Ordinance authorizing �he issu�nce o� bonds
by the Fort Authorit of the City of Saint Paul in the
princip�l amount of �1��00�000.00� over and above the
amounts iasued under Ordinances No. 11913� No. 12166,
and No. 12287� for the purpose of �ecuring t`unds ss
needed for the payment of the cost neces�arily incurred
and to be inct�rre� by said Port Authority for the
acquisition of propert�r an�d other purposes in further-
ance of its program. of port and industrial development�
in anticipation of the receipt by said Port Authority
of payments� appx�opri�tions� rents and profits and of
income t'rom other sources; prescribing the form and
det�ils of such bonds; and authorizin.g said Fort
Authority to pledge the full faith� credit and resources
of the City o� Sain.t Paul for the secur3ty og said bonds ,
WHEREAS� the Port Authority of the City of SBint Paul
- by its Resolution No. 340� dated March 22� 1966, has requested
the Council of the City of S�int Paul by ordinance to authorize
the isstia nce of bonds by said Port Authority in the aggregate
prin.cipal amount of �1�500 000.00� for the purpose set forth
in::��id resolutio�� a certified copy of which has been pres�nted
to the Council and is now on �31e in the office of the City Clerk,
all pursuant to the provisions of Section 458.1.93, Minnesota
Sta�utgs 1�61; anc�
,
WSEREAS� the Council of the City of Saint Paul� being
du].y advi�ed in the premises� finds and determines that it is
neeessary for the Port Authority to issue and sell said bonds
in the n.ear ftiiture for �he pu�tpose of securing funds as needed
by it to pay the cost of property acquired and for other purposes
in furtherance o� the program of port and industrial development
referred to in said resolution� and suthorized by Minneso�a
Statutes 1961� Chapter 45&� as �mended� in anticipation of the
receipt by the Port Authoritg ef payments� appropriations�
rents and profits and of income from other sourees, and it is
necessary and proper for the Council� pursuant to said law� to
suthorize the issuance and sale of said bonds and the pledge oP
the f�,ill faith� credit and resourees ot' the City of Saint Paul
for the security thereof� a.nd to prescribe and consent to the
form and terms of said �onds when arul �s issued by the Port
Authority under the authorization granted by this ordinance�
NOW� TI�EREF'ORE� THE COIINCIL OF TSE CITY OF SAINT PAIIL
• DOES ORDAIN: ,
Section l. Tha� pursuan't to and in accordance with the
provisions, terms and corr33tion� oP this ordinanae and of Minnesota
Statutes 1961� Chapter 458� as amended� authority is hereby granted
�o the Port Authority of the City of Saint Paul to issue and sell
its bonds as authorized by Seetion 458.193, Subdivision 1� of said
Yeas Councilmen Nays Passed by the Counc��
Dalglish
Holland Tn Favor
Loss
Mortinsan A o��t
Peteraon -�
Rosen
Mr. President (Vavoulis)
Approved:
Attest: •
City Clerk Mayor
lrz s-s2 �ZZ Form approved Corporation Counsel By
. ' . .. , . • .. ,. � , , ; • .- - . . - . • � ; . . - .
, � � _ ` . :_ , . . ' .. _ �:, : _';''+ • - , . . I . : . ` ,y , . : , _ • - ' -
',) � � ' . ' � '_ . - � , � _ , � •� . �r . . ` . �y _ _ y ^� r ((( , y . • ..
- ' . L- . , . . , . ' ' .. , - ' -. . . � - • = y.���w�� . ' '
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° , � "j . `,; . - � ,Fage 2. , � , - _ . .' - , , , , . .
- , i . _ .• ' - `, 4,` . � � , . , • - . ` - ,, � . . � _ �.
.' . .� � , . Chapter �+58, � in:addi�ion' �o its (�efleral Impro.vement Bonds�� �_ � � . - �
_ -. .r` : - �Series °A to � ' incl�sive�� heretofore �.ssu�d� and'� sold unde� '= .. �- • .
� r su�horit,� o� �3rdinanecs �No� .119�.3�: No.� 12166' and No. 122$�;-� and � '. .
.- . • '� • ,that,- s�'id bonds �are authqrized r.to' be .�ssue� arid-. sold in�t�e . � ' � �.
• _ _-� � � .�� aggr�gete prfinci,pal��amount oF �1 � �OOy000.00 � far. tY3e pnrpose� o� � •' . � , .
' '. - se►curing funds a� �n�ecled by the� l�ort`Author�.t�r,,�in said aggtegate ,
- � � �Y � amotint in hntiQipatio� of,, the r�,c�ipt,_by the�:PoTt �Authori,ty _of .:• �
_ �,. �_r � . , P�ymen'�s� aPprop�iations, �r�nts and� profit� �an�d of ,i��.eome' from ,. � ° ' . ,'
- . , . o�her, sources� to de�'ray the cost:.and eacpense nece$s�rily _incurred_ ,
. " - - and tci ,be inCUrred in-�he near fu`tu�e. £or its progz�am .af-..po�t� amd : - °
�� •. , s,� ir;dustrial development� �erier.ally, described �s:foTlows s • =� - - . '� •-. .� � - � �
. � ., . . .� • _ , . . _ -. . ,,� : _ � . -� . � .
- . " - . . � ,_ �(1) � The .acquisi��on of wgterfront,�� ripar.ian.and � -. . - ;;,� .�:� �-
� ':. . � - - ' .� • - , v�her -iands arifl the'aons�rugtian of. dock`s;°� .° " . . � -
; � , . , '�' , . wharves� pie�� dik�s-:'and 'other 'relat8� por�, , � ..��` '� = ,- ,
, .:: � . __ - _ fa�i,li�ties�� bo�h '�n�.�an�una�ion with tMe . � � . < < : .
_ . _. , - Federal -goverr�ment and gepa�a�eLy; ': � � .�, - �.- s.
' , , '�, _ - . . -t- .. , . > � ;' : . - ` w ,. . ., ` � ; : ` ` ,. ,
. - , . . (2�f �The:aequis,ition� �dev�lopment and� refleveldp_- . • . . �� �
` , - - , . �. :_ . ment of ianc�s for� �he �purpose of establ�sh:, � , � '
". - . ' ' � =:� �_ ' � � ing�,a system o�' harbor , and river� impro�e�tents � � - .
: ". , �'� "- �' � ` and indu�trial �d$velopnaer�ts�w�.thin t�e por�" ' _� . '. . '
- -_ � - - - , . •� . ;` � -• �district,•� ar�d� within the -industrial deve.lop- , � _ -� r . '
' .� , - � � .• men� distr�.c� -Y�eretofore �areated the`�ein for - � � _
. ; � - , - ' � -,thet. purpo�se��`, including but �ritho�.t limitat:ion� ' �, � -
�: ` : _ • � . � � - � :: th� developme�ts •tin progr�ss in-the Riv�rv.iew � ,° . �, _�
_ ,; , � " , .- �. - , � ',_�_ , In��stria.'T� P$rk.�. Northport. �and 3o�t`hport;� � � ! � � ,� � . �,
_, ` • � � _ � • � � . and �he developments �now being` �niti�t�d in � . � _' ,�� '
- ° _ _ -. . ' . . : � � , th�� Pigs �ye �.ea3 .�- � - ` , � �, � � - . ' � . � _ ',:.. , -; .
,, .. : . . .. -. * . � . . � � - - .
.� � ;�� . . � � - � � � .,� �- . � . . . . � . �.
� � .. :. - (3) � Ttie, provisiori' oP' recz�_eational. lands '��r�d .�seiliM � �_� �
' � � - . , = , � . _ties along tY�e �riv�r i. gnd • : � - � . . . � . . �
y '� ^-t k�. , .� �, -• ', t.(�+) � . Incidenta]: , to� �he t'ore �oin -0 and in"addition ', - .T i...,, � � �
. • - ,, _ _ •, , � to t�e- d#ke h�retoforegconst�u�ted ..in con�unc� , � � ,- -
�, , , , , tiofl with ,the� Rederal �government: .. ,dredging ��-''•�� : '. � :
' =, ' _ "- - �- � � :. -- . and f�lling�; .grad�ing ar�d raelaiin�ng, �nargirial - � . � -", .
� . . - - . , . - ' land �for=`port.�.a�id. �yindustrit�.l 'pur.pos.es; �Y�e . - . . _' • .
_� _ � � � � - ��� d.evelopment of, port �nd -industrial- areas;� . �- �z � :- � �, °: �
� � , . - _ 1 .,, -: �and 'the Qonstru�tion�. of••_storm and ;,sani�ary . � :, _ _. .�
, � , ' � � . _ : ;sewa.g� di,spo�al` �'fae�li��'es� wa�er_=d�.st'ribu= - � � � - - _.
" -- ' - - -- �� . . � tion=sy��ems °:fbr'drinking .and other �purpos�s� � ' ,.� ���-'� " .
�,� -_ - , �, . �, jstreets� trackag��•, sur�acing and ,o,ther lar�d � • , _ . �. � - .
� - . � _� , • �improvements�',;and, oth�r�ut�lity"�ns�allationss � • � - � � � . �
• � i. , • - , � • , � �n : trh��:e, �.rQaB'�e :i ti , :,ti` r' ' � � . ti . �+ �k..; _ . ' , : ' � ,
, . 1. '•' ._ R �i'• �C.S _ J i. , , _
• - a♦ . . -, f „ . �. , ' .. . . , .F� .
. - ' , • � - •� � . See�iori 2:�� Tha� the� boiids. of .each .series issued ,and � �.� -
. - , � � . �soTd'pursuant, tei� this ordinanc� shsli .bear �date riot later tYiat� �,�` . . . -
� �. � , - the }first d$y of the manth, in �rhiah such bonds°are, delivered"� � � ' " � -
� '. � �Y. '- to the ,purchaser thereof; tha�t� �he �first installmen� of �ach, � . � - '�
' ,_ . ' series shal.i mature not �later than three years,�r.om date,�nd •� ' � _ , � -.
.- . , �hi�- last, not _l�ter thari: thirty �e$rs_ from 'date;'� that r�o amount - - 1�� _- �
- - . _ - _ -of 'principal �of �ny _series �ayabl� in any calendar year shall���-'.. ' ° �- -
• � � ; : . t,-e����d ��'i�e _time`s �the. smalie_st� amount 'of pr.incipal ma�uring - ' �,' -. �_ --
. �_ � , �°in'�any calendar .,y�at, encting three years or more after _the date ,�' , •� �•• .
: • � . ' of issue of tlie- s�ries; 'that�� t.�re bonds of�� each' series. shell � _ .;, ' ` '�, '
� ` be issued, and �s"old by -the�Port: Authority �,n �the��manner. provided . , , : � �
: _ � ' � - .by 1�aw, shall be numbered seria,lly ' shall be ;.e8ch i�. the • • ' �-
. - , � - ' denomination of. a ruultip],e of;�1��0�}0,'�ani� shall-bear interest_ ; : .� �'
� ' � � ' - .,. ;' , - � _ � � �. � , .', �,. ��,� - � = �.,'- . . • _ • � ` - ' . �
. 1 . . , _=r . _ Y ,f f ,- ,•� . ' --` .�' � " ,. 1,� � �„ ' ,.'` � . . . , `� � , � , �
' � • , ,� . - , ' . : • " ' ,, ;�'. , • • . . . , . .. _ .�
�� • •- . - . , _ • • . " , _ - . ' , • - • ` - , _ < • -
�. . . .� ' - � � , ., , . . _ . . . • • . . ' - ^ • }
1� - - _ . _ �_ _ , _ � ;- - ° , ' • • • - � _ . .
I • . � - " � ' . . " , J� � • ' " . � • • ' " . � , - _ . .
. ' � i y ' . . ' _ .. . ' . . ,Y . ' � I I, ` .. ' ``f.` .. .. � � ;. ' i ' , :' • L• w. '+ �
- I .a .., . _ t .R•P . .,! �. .. . . _r ' . - • . . , ' . . . �" - .
- • ` � + „, • � . ' � • ' ,'+ j • . . ' - , •.. T r r� _ t. . �' � • ^ � ` ' , `� _ -
� , +� 'z • . � ,'yi , '.. . ! . ,, : :�. � � ` � . ' • . .. � ._ .-. , .. ' . � . .• . . w^'•(/�', ����... , .. ,,
+ �� ' . - � , , . _ '� - 'n ' 'f.RY _ _ � t . � �• '�• . . ' "
� � ' ! , q ' . � .. ` rr• - _-j . _ . • P�g� ��, ' - . � ' � .. , • 'i .. r ' y_ • .
. ' . _ ,. - � � � ' ' . , ' . , .` . � _ _ J .` .� � � ` ., ', ... •_ '
; � , ��_• - not in, exo.e$s�'of 6�`per '8nntim p.ayable semi�nnu�lly� a,aeording. , � � �
'� �_ � �o i�,ti.erest coupons �o .be:"attached to the same# � �thet •the bonds• �`_ ,-
. • � ,� ,.. � =' ;of eaeh� series,s�all be -subst�►n�i�l.�y �.n �the :form he�e��et�t�er , � - .
� _ � � . prescribed by the Couneil and .app�oved �iy, the �Corporation .. t � . .�. - , -,
� �. .. ' .- . -�ounsQl �,o�' st�i� CitY; � �he� se'id bonds sh�1T be,ar- s.uch .ir��e�res�_ .. . .• - . . .� �-
. . : . - ' as-�'the Cit� �ouneil :,`shall, �-approve. and shall�be soid st� ozie L �_ , ;
� . - . - or more 'serie$ -by the .Por� �Author.ity fori abt l��s than their - - , � • �
- , _;_ par velue plus�`°aecrued in�erest,, �to ,the highest� bidder .therefo�� . , .. �,
' . � : - `�� after,_ two �we�ks', publiehed notiae of ' the time e�d p�lec�'�for � = � � .
� � ° � � : rec��:ving� bida ther�on; .tMa�� �he proceeda t'rom �Y�e issuan�.e�- :, . . . � � :
� - . . . , . and's�:le ;o#' 'sa id bor�d� .8� ,TeCQ�FEC� �3� '�Yi@' �P,ort��Authori�y.� - � . , , •
�L - , _ . �hall'.be depos�.ted_ by �:� ��in. a� �'u�a of�•the, Port ;Au�hori�y ,; - � - , . • ;-
. . . . _g�,loeated �heTetc�� �aAd ��b.�eat .•to disbur�eine�t Qnly i�"defray-� -. -. . -
� " .._ � mea� of �he costs�. �.nd� exPenses -n�eessar3ly i.nc�rred .and to.,be. -� - � . ` _ .�_ ..
- - _ - '� incurr�d ,1�� the ,Por't �AutY�orit.y, ��or ,�he prd.gram�. oP �port ��and -_ � ' ', . _ _ _-_ �9
� • � � '� " , fnduetrig.l development,her�ina�bove- c�escrib_ed; that all., oF tlie ��� r - -, `•
_ " - � bonda�_sha11��be ��pa_yable _�n la�it�a,1' �Qne.y o�,_ tl�e _�Dr�i.ted -�Stat,es ,� � _ ' . . .
" - � _ ` ;-of ,Apa�r�ica � a� the off��e af�a �.�iscal'- agen�° or age�ts de�ignated � ; , �
� • �� _ � by•�the �Port Authorit;�� �en�. es�=�ecur�.ty �os the prc�znpt �nd,= - . . -- -;�'. -
- ._ . � faitlaful pgymeat��;of, bo�h �pr�:�icipal "ar�d :itste�s� on a�id_, borids �� - . ` .' �- -
� _ • - _ - � . �the �.Port A�a�hority i,s�-hereby;authoriz�d to, pledge' t�ae f�.11- �� - , . � , �
- . � . �ith, ;c�edit, and regouraes of the �C3,.ty -of' Sa�.nt P�u1.;" that , _ - _ , � ' �
" - . the .bonds �of eaori seri��s �.ssu�id hereund.er sha1Z b� entit�ed� : . . � .
� , "Port `Authority� of the. �3ty pf $�int Fa�1.. aeaeral Improvemer�t�.,- � �.- -: �
� `, '_ -, �. - . �ataci� Serie� -, -' �'i �hs�.1 �b�., i�sued in,'�eries corisecu�ively" . � - � -
� ' •desi,gnate�ds be�nning.--wi.�Yi� 3eries F� ancl the. bonds "m� ,each - � = -_ � - - . �
� , ._ aeri�s �shall be numbered aonsecutively- be�in.ning wi�h No. ..1; � .� ,, , ' �• �
.• � '_,� that - ea�h "of said bQnds stiall b� �igned by the �Presiderit.oP ., - a .
. , the port AutYiori�y, attested bg �i�s 9ecretary aad�. count�rsigr�ed. - ' ' �
� �- � . by .its 'Treastu�,er� provid�d 'that all-•but 'o�� o� said signa�ur�s�-� •. • ` :�'-
_ .� � . may be prin"ted,' 13�hographed�: stamped' or engraved on the� bonds, - ` .
. - - : • . . and -in�erest �oupons� sha.li,��b� attached .there�o .aud she11 be' �- ' ��3•='- •,� ,
� � � - � , � � J execut�d• and.authenticat�d �by ;the,.printed� engrsv�d or �i�ho- � � � �
�� . - . . � graphed�fao�imile, s-ignatt��eg . o!' said i�r.esiden't�and� ��e�etary;'_ . _-.- .
' � ` •� �ha� eech of the� bonfls: .�ha�l ,be.-�sealec��:with- the _eorpora��e segl _ :. . _ '
_ � � �o� the P,o�t Authority�� or-s ;pr3.�ted� �:ithograph�d��or Engrev�d , ,� ' • '
� •,_ .. � feasimil� thereo�; "tha"t 9.f ap�rov�d t by_,reso�lution-=of.�the �-' ' � ''
- � �. City,_.CounQil���eny of �aid �bonda�aray;:tse- smade� sub�QC� -�a redemp=- ..-_ :.' �. - � .
� � � : t�on and pr�payinen� at ;t�e optiaY� of., the �Port. Authority at � _ . . � �
� ; � ; '�� such .time'and ,price o� p�ices �nd_:u�on .such�notic� y$'s sMa11 -; . . � - . -
. . . - be provided in' said resolut3on;F aBB, .tha:� `�eacki �;o���he b4nds , ; � � � -
. =� - _ ahall be' ii� sub�tantialiy ��th� �fol�:owiAg -form; �wi�h suit�ble - �z ,
� -� �� � va�iations aa to ser.�:aZ designa�ion� and number� denom�,ng�ion, • . .
� � .• � placs �or places:of -�aqme�nt�� :fi�demp�io,n -provision$� inte�est� ;_ � =� ?".
, rg��s} �and nominal �de�e o�-_.isstze s" ' . • ; � .a ' ° . :y�"• � ` . = <�:: . . ._ �,
. L -4 'f � �'.
. " � , _ ,' . • " :' ;" � ' � . ' •.�_ , � � � _ _ "
= . � � �' . ' ` ' ' , , " .. '� +`, �. . • . _ , � ;" .. � � . _ ' . . f .
�• •.� . -- � • � - ` ..� ,. _ ' -' �_ 'IINITED STAT�3° QF- AMQRICA. . ' � . �_ ' _ ` , "- . -
. . -- . • . ` - . . _ .: - . , '. 3TATE� OF MIRNES'OTA . �- - ' - . : - � .- � �
. , ' , . ,• •� • • �- " � '� � ' . . COUNTY.OF RAM�EY ' " • ' - . _ - . -.
�.r ' . . ' . t � � � ' . _ �. � ,' ., ' � . . ' .:,., • _ � . , .` - . � � .
- . - �,- " . � � ' PORT�AIITkIQ�ITY 0�'' THE .,CITY- 4F �SAINT',�?AUL . � � - � � . � : _ �
�--' . . � S , .. .: . - ... . ��_ ' •��, , �.:aFNERAL zi�iPROV�'I�iENT� BOND � - ' � � ` - .' . ,` : � _ � '�-
_ ,' ' - - . . - 4 -` � � � - , � �ERIE�' � � - - '. .. _ . , _ - . , _.
• -� , � - _ . -• , ; _ � , _ . � " � � '. .� � - � ' '- '. , '• ' �, � ,
, _ . , ,_ , .
' •- • "�0�- � • • a.• • • • � i • •�i • • , t � ' . . � �• • • • 4 • i �:�� • • • • • i ,
., _- - . - : - .. . � . .� � - . - - , , + ,-
. -. .. . , -'. ,, , i - ' ` _ , -
, ' - � - " � �� � � -� ��NOW ALL. �i'EN BY THES.E PRESEI�T'3� �that the` Por� Authority = ` _ = '
- . ' � •ot' the City of .Saint• Pgul; °in the .Coun�y'o� Ramsey,and State of . - _ : ,-
. . ', _ . - , . - � •,' ' � ' ,� � . , . ' •_ � - _ � � ' - ,� . ,
_ . ., - - .- ._ � . . . . . - - _ . . .. .
� ` - �, � . . - _' _ - . , -
. . � �; � . , . . , ' _ - . _
�. . , �, , . - -� ^• • - _ - � ,�. ' ' . � ' - . � ` _ . � r _ - �. -. ' .
. , � � ' . - �_.� . � - . ,.�� . ' � . ,: . ; - � - _ - '. '_ - - �`, ` . . , - '
• - , . ' - , , .. . - - -.-_ -' - . . . - , � - . ' ' • .
, .. _,. _ . - . __ , - . e ' ` , - . ee _�+ .t . ,� . . -- +
- . , , ' _ , ' ` " . - - �e.' � - • ' � C, - ' ; � ' ,.t
'i. , , ' F � . - • . _ f•' r �:, . . . . l' . . -
,:t. 1. . � , j ' • • , ., ` ' `- _ .,� . - ', r� . " ' • • - - S + ' ) _ . ' .
. � ' ' * _ ' . ; ..l: .• .r ' ' • - . . , • . 'yi_�' ' - .. r_. - , ' . - .. ']/'�w� '
��y` � ii�
' , ' . _ . " . • . _ . -. .. • l,� . ' . 'f.�, :4 ' �'• � . ' ���i.� 1 '
� •� ��1
•' ' , . i ..� . ,'". ,. • t ` • . . � .i o � ., " i . _�f", ' ,.� , � S . �f ' �- + , ,. , �• � �' .
-. �, ,, y+ '; . '' ,' ,.� '� .. r -,, ��`� 't _ ! � , � �
., � . . . � � - .. . . . p� � ��. � . � . " . :,� �.��
- • _ � _ � ._; � -. .- �� ` � . � .- , �,,- g ,'. = �� .. ' _ . .._ �-, . _ , � ,� ' �. . '" ,� +
�� • � Minnesota'' 'acknowledgQS�' �itsel� to__owe and �or -v�lue received � �f�'� � ,- � . ' " .�
. � -
_ . � hereby pr,om�ises,-to, pay,;.td b�arer the-, sum of -. ��...'. * . .'. . . . , :". :''� � ' ; : - • ; '.
� � - . . . ......-.': . .°� ... .: . .`: . . . .:'.:�:: . . �.Dollars (�.. . , . : . . ..._:'! ) - ori `the . . ,� _ , .
� - - firat. day .of . . : . . :.:'. .�: . ��. .,:-. .�. . .,�. 19:. * . �-�.to,gether �with�.�: �' '_ � .- .-' .. ' :
.` � ' - int��es t� tk�ereqn .at the _ratQ.of� . .,� :, . . . . . . .:�,.: :'. ' per ceriti�- �-.. . � ' - _
�' , : = ( . . .. .�) �ier �nnt�m fro�n� the� date h�reo� until peid� pay8b7,� . � . ' ' :', .
„ - � '� ' � �19, � �; and semiannually thereafter • _ �
_ ,• �' •.• • � • • • • • • ,�� .� • •i • • • • • •�1 • • •'��• , . P� �
- � � � t: � �on the� first�-da3�s ,of� . . .�:'. . . . ::F: . : :�. .�. .�; and . . :'.�: . . . . .�. . . :': .�: : f, .: , . ,.
� - : ' in. egch year� i.nt�rest -to _maturi'ty�bei.n� �v�:dericed by� a�d � - . ' � .; ., :
'. ; � ' �.p�yabl� �n� accordance- with.,.and upbn �resentation and,�surread���� - ' . � .�.
� .• .�. '-;o�-�anne�ed- interest coupons a��, they ,s.everglly �become due. � ,� � �',, -' �
' � Both;priricipal and interest,of th�.,s bonc�� are pa�yable �.n 'lawful - ���� �
� ;� �� ' - money of tYie' IInited �Sta,tes ,of �America„ a�'the office o� �.-.�• •-.�,• :,' . � ` • ' -
� .':. . . ��.:.-, . . . . .'. . . . ;, . . . : .�. ..... . . .. .: : . : . , . . . . . .•: . . , ir� . . . .'. . :.:,. . t - , .. ' �;� .
,.r , _ _ , , , . . . .
;. - • -.�, . . .-:�. . . . .'. . . . . .�:.'. . , . . . .''. . . .=. : . . . � and for.� the' psomp� payment _ - � • �:
'� � . � ' of �thi� �bond, bo.�h.princip�`l ar�d � ir�teregt , whe�. c�ue��� the- f�tll, � '_ � _ .' .
- '" - ..fai:�h�_ eredi�. er�d •�re,sourc�s. of .the City of' Saint Paul are hereby, �, ;.
,. .� __irrQyocably plec�g,ed. .. ° � .. .. ' , . . - ' ,' _ , - . _= • . . . : ,.
. , . ' . � :� �- . • Z'his bqnc� is ane �of-a� sc��es amoun�i�g�in- the aggrega�e i, � . . ,
_. � _ . to�'.ty� sum. of� `• . ` > .. . . . - , . � Dollars - � - • �
�ae� • . . . : : ... �.°.�, . :;�'._... -. . . ... :. : .y . . , . . . . . . . .�. . . . . - -
� ` � � - (�t . ..,. . . : . .:. . . . :-:) issued by �saici� Port �Authority �f'or� the purpose� _` �.,:�' �-� ,,�
� � � � of` securing, fun�s 'as needed by the f'or,t�'Authority to pay the_, co�t .._; ... -.
` �' . and Fe�ense 'necesssrily inaurred and ta be incurr.ed" for the�. - - .,-; ,.:�:� • �
- 1 � . -� - .'progra of • ort' and inditstr�ial d�velo�ime.nt., descr-ibed in:Ordinarice �
.,-�� - . No: �. " - - of the Ci�y.�of ��eint Paui� -all ��u��uan� to t�q . � . �
. � - �prov sions� �.�y authority�of��Sinn�e'sota .Statutes- 19b1� � �haptei'_ , ; �` . ��
-_, � 458� and 'in _an�tci�pation �of the�receipt- by seid,.Port ,Authority. ` .- ', -�
` . . � ' ? of pa,�ments, eip,propriations,i �rents,�and .�ro�'it�� gnd i�come f'rti�_ ' � _ � �
_ -� - � other sources thereunder'��. �and rin �aecordanee -with �he provi�ions� � _ � „
- _ - ,�' te��s and conditio,ns- �of Ch�.pter 4�8, Minnesota Sta�utes 1961,� as.-, ,. � °. �
' � , . ' amended.' Thi�: bonfl'.is �Ss"'suei�'=pursuant �to =s�id;',o�din�nCe'� �S �:.'_,� ' .�f ,
- ��nac�ed., by .the Couri�il�of�,tYi� City Yof�Saint Pat�l� and duly � ` � � = � ' S��� �
. " .�. 'r _ signed,� a,t�ested and �euthariz�d in .accordsace with,,said, Chapter� ,- .;-, � ' � �.
; : � _ 458,, and �ursuaMt- to R�solutipfl� of_ ssi-� Counc;il_' No.. . : . , . . . . : .�. � , ' _ ,
. r� �ti ; -..,- -s ., s ° � �.
- � , pas�ed. �and �approved=. .�-..� � .,.,^ .'. ...,. .-. . . ._�;; 19. .; . � and'�under authoritY �'.:�. . .-
: `.� � � ' and , in a11 respec.ts in f.ul]:4 complian�e �i'th. =�he Chart�r of, said� ,� �: ,=;��:;� �.�
, � . Cit�r;o�-Saiut Pau].� _purs�ari� to resolu�iori. of sa�.d Port Authority •��. , � �}-
� ` ._� No�. ...�. , .'. . . . .': : . . . ,- _pas sed� and�'app�'oved� . . . . . .. . . . . . . . : . : � 1�: : . . ,�'� - � �
. ' � and �n���l_ re�pec�s in f'�i�:l eompl3.ance '�ith all �a�plicable provisions� -r-.��:•
.;� � 4 , o� .la�r��'_�ncluding Chapter �+,��� Minnesota� S.tatutes� 19�i, as amended.�. � , _.
� - ' � ' : . - � � : . . , . . : � . . -
�. � � , �� - . It �is Yier�bq cert�ified a�d r�c,ited that s7.1 �hi.ngs.� �ac�s �� '�',°,r .
_- � �. _, and �conditioris required b�r.'.tYie. �onstitu�ion and- laws' of�th� S.ta�.e � ` �._ �� `. _
: •, _ � � . of ��innesot� aiad-�the .Charter �� said. City to�happen- a�i�i b�'done . ` , ._.
. � � � $nd perform�d �preeedent.:�o �an�.� in the' issuanae. of this _bond ha�e,•-. , '�. � �• �
_ ' = � � __ happened_ and beea done and:performed� in.reguTar-; arid� dus form $nd: . .. `�
� - . � . ' � f_ �ime a$ requ�.�ed by_ law; :th�� prior: to the t�auance �of thi` . . ' _ � =
" � - � - band_-said Por�.,�Authority has Zevied for eaah year, until the "�• . :- ' '_' F
" " . � prir�c�ip�l: ��d- interest are �aid �n� full� a -dir,ee�` annual taz-��� , " ,.,: : '_ , �
t���'� _� .- oa a�l the •ta�able �proper�y,.i�n th� City- of�,Saint Paul in� an:- = . .f ; . -
- . , , � • amoun� "not� l��s;-�h�n �five. pe� -�centum (��.) in e=cess of,�.�he sum ' - _ ' .• � .
, � . ; , required 'to pay'�the� pri�cipa�. a�d i�aterest her�of xheri �nc� aa�.` i' � . �';�� _ `
� ,' ; , such prinaipal �8nd ,iateres� mgture�' whi�h .tax is ;�.rrepealable _ : �� �-� � .
- � � � until .�a_ll. 'sueh indebtedt�e�s is. paid, an� may� be� �edu�ed only � ' , � �.. .
-� . _ in the manner anct ��to -the extent� provi�ed' �;r� �said Chapter �58; `, f, , -
' - - .-that additional �axest -if 'n�¢�ssary.,for: �he full ��ymen� of - - • -. •
�- " � - � : such. principgl: and. intere�t� „are required _by lgw,.to be levied �� �'�:� � • � • ,
• � + - ��1' i •Y ' ,• � . . ' ♦ . , }f.', . / �. '. . ,. ' ' '' '` , _. . y., , f�
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_ � . .. . - � , _ . ' r •, ` - , � . � ,. . , -: , � ., " �.. � � � . ..
� � - upon eYl such� property wi.thou� _limitation �a �o rate or amount; - �., .
. - .. .` �• a�d. ��is� ,ne�.�her=�tha, �o�al �_fndebtedneas: o�, t�e City �of Sa3.nt Pa�l-, .•° ,
� ' � " '� .� nor t�at oP` saic�_-;�or� At�thority� • i�n�].uding':this bond; �xceeds . . � � .
�. � � � at�y: �on�t9�tu�#bn�l;� �tatutory� .c�r oharter l�mita�ion. � . � - _ • � �
, ° - . �'. : ' . .. : �. . . - - ... - .� .� ..�g �' Autk�or�t o�': t�e. ,, _ ,. . , `�. • .
, . � . IN. WI�'NE�g- WHE�OF, �: . �e e Fort y _
. � Gi�t� of_ 34int, Pa�tl� by its� prc�per _dfF��ers has caused�: �his•. = . :.._ - ;
. � � : -� � bonc� to, be se$le�.by-a,,lithographed facsim�le •o�' its���Offi,ciel . _ - � .
: . . � . •
� - - � Seal;, to.be si.gned and. oounters�.gned`by tY��� �.��hographed � - . . -_:��_ � � -
_•� � •`+. . �� . �aoaim�.le� si�n�a�ure� of..i.ta �?�esid�nt _a�nd, its '�reasurer�` ett�sted�-- ��• �
� ' � � by the mg�t�a1 $�.gnature� of its,�Seeretarq� and each o�' the �n�er.e�st ._
. _ ,;.. �. � eoupc►ns Y��reto �nmexed �o.:b��.e�ecut�d and, authentioated by the' � � _
� ' - lithographed faa�imile sigi�a�ures o�' :i�s Pr.e�3c�en� at�d �8ecretary� . _ � .
• .�� �nd he� .caused � true and. correct ,copy of� the op�:�ion rendered • _.� . ,-
" - j .� `_ by bond�,aotinsel-,,e�s _to�,�he valid�ty.of the issue, includ�.ng , _��;' - ' '
. -� . ' this. .bonii�`rend�red. at� the�_time of: deTivex'y hQreof� to be _� � . :
. . . " - ' �prii�ted .on the �evers,e �'ide o� �hts',�bvnd., anc� has caused this � . . .
� ' . '-. � - bond to be dated as d' .�h�;fii�st. day of_ , . _ . "' �
. . . . . . . . . . . . . . . . � �1�. . . . . .
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� � ' � � � � .. •• ' � � �ount�ra3gn�d: . . . : , , . : . . ... . . . . . . . . ..: . .-.,. . �, _ � .
� . � , � - . : _ -- . .� �� ,.. _ _ . , � . . • ���asu�rer . - � � '. : • '
� - � Atte�t: ••a � i • •��,• r'� • • • • ••� s � ��• • •�� • • •.�`• } _� ` . •�,. � � ' l� • , •,'�• '
� , ` - �� .. � � � Secreta�y �, , , : - _ � _ .. . , _ • - , -
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•- ` ° . , .= -. . . � ,� . . .
, . , -_. , . _ ,_.
•�, � � � T'�at thg�eoupon�� appu�rtenazit �o .said �bondg - sh�ll•�be ir�:,�ubst�ntiisil'].y �
. . , . . �he- f ollowing fbrm s . � � � .. - .. . - , . , • .
_ - ` • _ , � , � ', -.� . � _ . ,� '- ' '- ; _ - .,°` .�.� _ ,�, � .;.�: , � , � �� _ � '. . ' << <. ' ;
. - . - . - _ - . . • , - . - '- - . � - .- - .
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. , i_ : . , • , _ ' y � r t_ . . _. k - r �"t ` • _
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• ' ' ' 7� �L '=.1 k i'. ♦ !��A "�� t . � ,.I! S�• � ♦ • • • •�� • � •,• � • • ' �
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- - - ' - ' _ —'` ` �: ` � ' . '" . ' " ' � . -
•- , � _ ' . On ��he�, fir,st'd�y<-of { ` "- . ,f ., . , . � the� Port ,.- . �
y .,• • i • � i • i •"• •��'. • • � � i ' 19i • i • �..
, � � ' Authority of ��h� �City of �aiiit��sul,, Ramse;y;�Coun�y� �Mirineso.ta� : � _
� . .' � . �romi,ses �to pa� �b� bear'er ;tY�e�'sum shown_'hereon in lawfuT money-, • • �
- �- o�'� tY�e United �tatQ� at tri`e �office of . : . :. . . • ... • . . . . . • . . . • . . . . . , •
- � .. - . � ` . . .�.�.,. . .'. ..: : :'. : : . . :.. : . . . . .'. � . :: . : . �' .ip, . . ... . . . .,: ._. . . . . : . : . .': . . : . - - .
. . ' -� � �. " � for interest �due the.t day �on . -
. .. . : .�. . . . . . .`. . . . . . . � .'. . . . . . ., . .'. . . . . � , ' . � ,
� � �- 'i�s Qreneral• zmptavemeri� Bor�d� Serie� • • • . :� dat�d � . . . . . � . • . � . . • . ` . . �
_ ,` _ . . . . . . . ; . .�. .�� , 19. . : . , Noj ... .: . . . .�. , �. , . - �. - - t �, ' _
. - . - . . . � . , . . - .. .'' - . --
, - - , . , . - ,. � . _ , - •�.,,� � - _
� '::.�- �(�'8csimi�e si nature)� �T�acsimi.le si nature) '
• ' � .. . Attestt: .�. . . . . . . . . . . . .$. . . . . . . . . . . ' . ... . . . . . . . . .,-. . . . . .�. . . . . . . . .
. � � � , . � . `, '. , - • Secretary.. . - . � _- _ . . . _ _ President , • � ' .
- ,. - - ' - • ' , • r _ � - . • ":.. - ;;�� . : _ -. . �
. +� • • ' • - ~ ,}. •' ` -` , '� - , ` ' • - . , _ , ' . .
, �� - • -, � � =. .. -' ' ' ' ` �~ .' ' ' � e� - , - � ' •; - , -
� � ' - � �_ and that. there shall be pr�.nted� on the r�verse, siae� oP each bond . .
, ' -� � �_ ; �� truQ�� and co��eat. cop�r.��oP �the=�t�xt of th� .op inion re�dered by = � - �
- �b,ond cou�nsel�-as '�o the va;lidity thereof, a� the time of deli�we.ry _ -
' • - '� � of' sutsh� bond� to�;eth.e� �ith •the f��lowing� cer�ificate to b� , .' , -� :.
. "-_ � � ` exeauted �by a Ti.thogr�iphed� faas�mile signatur�� of the SecrQtaxqt � . . .� .
� _ . - - - � , : , . . ,. : � � - - , ..
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� . � . i� . ' � - . , _- ' � . - � 5
: �� � � � .� -� �, .-S� ,certi'fy_that �the J'abov,e.� isi`a ful�; tru� �and ,corT�et � � '. _� -
� . " _ ,� - copy of-�the l�ga]: opinion�.rendered-by b.ond counsel on the is�u� �` ;� � - ,� _ -
�• • .. of�.bonds of the Port �Authority of th:e' City':.of Saint Pau� � � � � � .:.
� -` � . which inc�udes �t�e,.w��hin bon�l�� dated ,$s of_ the� �date of dell.very.,-,� " . � _' "
. � 4 ' -� of� and payment f.or� the� bonds.. : ' . ' ', : , , _ . . . " " : .. -Y - _ _ �
. -,`. - . ,:-.. . . i ,, --,. -.- _ ._ . . � . . ' , -� ' ,, : - . - ' � -,, _ :, , . . : '
, , . . - . , .. • . - � �. - (Fscs:imile s3.gna�ure�) - ,.
. , . .. _ ., � � �..
- �� . " . . - - . _ • ,. • -'. . . . . . . ..,. . . . . . . . . . . . . .. . . .,�. . .'.�:. .". � � _
` ,_ . � , . . , :, .. � . = .` � - ' � �� � � � . . . Sc�cretary� : �� J , � . _ ` `, - • . .
.. , - , • • `, ,- j_ �` _ '` • ;'j• `. ' . . ' ' � - �,- ' . i � `' ,.. . ' Y • ; ,i- i ' . _ ,^
• ' .- t-Y _ . - - .`�. . ` . • ' ' ,, - ,' ' � r. _ • =R' , ' ' . .` ' - Y . l ', , ,,..
� - � �. : �.� � � Seetioin _.3. ' That,-`suc� bonds;- �both� in� re�sp,ect �of..the . .{. -'• '' -_ �
� � _ principal �amount of the -�ame. a�d. in`rQspec� of th� i�nteres� -� � � . - � . �
� , v � '_; ,�': thereon���:shall be p��d�,by said.Port Author,lty. from tax levi�� � . ��`. ; �� �_ - .
� � � provided �for �azid au,�horized by_-seid Chapter 458�� Minneso�a . i = : .
� � ' . � StatutES 1�6Y`, ��and�-'from the earriin.gs and. all �.ncom�' .r�c�ived � .� � -; _�
- '� � bq- �said •Port -�uthvrity Profn i�rhatever= source derieed',� to th� � �� � .} ,��,_
_ - ' � ex�ent �hat su�ch earnings gt�d�,�.ncoing are determined by the�_;. ' -. - ' . , ' ,:4 _�
; ',`'-- Port Au�hority �to be avail�ble' for sueh:pur-pose''and .ar� not ' . -�- � __ �
� ,�t _ �. - � pledged �'o� "the p�yment of�,r.ev�nu�•;bon�s ,iss�ied und.er - �� ,` '_ . ,.
- � � Sect�,on 458.194, Minriesota Statut�es '1961� as $mencled; that � � ' �-� f "� ,
� � � '�said.. Por,t Autharity-ehall�, before'- t�ie, issu8��e. of_ a,riy series '- . .,,- : � _ �
• ; . . : : of -bo.rids euthorized°"� re�indet= .l�vy for ea�h �-yea�� ;untii _the : - - - � . . _
' " ' � -� -�.prinaip&1 a�d �int�rest -ai�e pa�d � in ftiil�.., . a �direct. annual- � � ° � -
� . ; . . . , ,
-. -: �. � �' ` �tax _on.rall, the� taxabl�- prop et ty. 'in�,thQ; City �of� �aint Pav.l i� r . , • , . _
_ - ' -in :ai� �amount flot le�.s than.,fiv� ger. 'Qentuiu (.5�) in e�Cess- of = '. '-� .
' - _ � the :suzn re �ired �o , a th� "prin�e� aY" anc� intere�t of �he� `'- � ����' `
. • q . P. �' ' P.. �
, _ � • � same when _and -��s 'sua�- pri�Q��.pal ,e�d inter_est� mature', aud after -. �� = � � -`` " '
- �., . " �� such bonds hhve been del•.ivered �o th� purehasers� �such tax� �- � . - _•
� - ; ' . � _ , � shall be-, irrep.�alable until tilY suah indeb�edness ' is paid�, � - . , � .� .�
� _�nd .a�te� the �issuan�� of_ such bonds no� f`u�ther e�tion by _ '�'-' �
',' �, � _ � said�`Por� Authorit;��_'shazl.�_�e �meces�ary,��o ��authqri.ze� �he eg= �. _ ��, � � -
. ,- � tension� a�s�sessme�t�.and� c�oll��tion of suCh� tax; t�at '`the � ' • - . s � •
•'. . . � - ,_ Secretary of ,�a�d Port _AuthoFi�y s�gll. foP�hwith� furn3sh g � '• - � � _ � �
. �- �: aertified, co�y ;of suah l�vy�,to: the� County Audi.tor , of Rams�y, , � • � �. -
,- ' . . �.' �ounty�� Mint�esota� _the c�iunty��in which s�id�-Port ,Authority dnd, s�id : - .,:.:' �
. � . Gity are lo�a�ed� - toge�h�r_�ritM f�11 �.nf'orm�tion r�garcling the .,• ' '�� � �
_' . - _ � ;, : bonds `,of aeid' T�ort Autho'ritp.for .whi,Eh th� t�x �.�s- l�vi�d, �nd, suah. �'._ � -
` •� _ < � . ' Cvun�y. Aud�tor 'shall ex�ei�d and assess the ;t�a� sb �.evied�.-:�rid ;sha11�-; - -:
� � - do so �annuel�y ,until .the �principa3. anc� inter.es�,�ave b�en paid���in ;. - ���� �
, - � --.�� � fu11.'; �prov�d_ed tha� sa�d �ort A�thority may'� on or befar�� Octpber -�.� � ,
. . 1� in anY Yq�ar, ,by ap.propriate� actio� cause. its Seeretety y to' :'�� ,.... . � '..-..
: � � • certifp�,�o the s$id Cour�ty Auditor= thE gino'ur�t �on hand �tnd -avail.- •. : �� ��� .
. '' ;� � �able=�iri'its own ,trea��zry;��om earnings or .other" 3.ncoine,, incl�d- . � ;•. ;�, �
' � , - , ,ir�g:the amour�t �in- the� sinking, fund� .which it �rill use to_ psy •� � , � �._ �
� :_ , �� the.'princ�pal. or .�iMt��est" or�bot�i bn eaeh �peei�i�d is�n$, of -�� `: ' � .. - ,
.- ,• � ; � it�� bond� and��th�. County Auditor � 9ha11, re�u�e 't�ie levy for :th,at - � � -
� _ � , year• he��in provicled fo� by that •�mount; that, the_amo�.nt `of fuads...��, <; � - �
� • � �, t sv acquired §hgll be- aet. aside b� �aid Porti Au�hority �nd be� -." : � . �
` ..� _ � � � used fdr-.no o�Yier; �urpose��tMar� for the repayment: di the prin��,pal ;�: � . �-� '
•, - � � •�� ar�d� ���Qres� on s�,eh ,boAds;� gnd �that��a11� ,�uch taxes� being - ' ' • �
: , _ anthor�zed �to� be levied ur�d�e� ��ation 458..19.�� Minnesota � •�, _-: ;�, : .
,. . . - - - , � ._ ' - _� ��_' - . . , �_, . - -. - • _ ' � .
_ .. : -; .. � . ,-- � _ _ � ,: ,� . . . ,t • . - .- -r . . ` . . . -..- � � .. � * ' . • ,�.,
� -,t� , -. , ' . , , _ � - � � , � " � ." - .-� : � �-: �. . ." : _.
. . . . -• , -� :t-x.,� ..�' _ � , =; , . .. ' } r '� _ .. _ .. � . ,
' ` ; - � - .. , _�� ;i i`�y.�,.s[��.�k,��s yta• �,'�y .• * ., `4+�• , ".. . •� • - .' ` _ - .' . i . . ti- - ` '
. ._• ' : . .. � . .. . ' . ' � : `_0.'� '.y_' .�:•, e �: d �ts�.... i ,*', s�. � ,� , , . _�_, -• ,e� . ; ;
:�.�.---�---_ _ � _
Daplleats to,Printer "
� �� � ORDINANCE
COUNCiL FILE NO. �
PRESENTED BY � ORDINANCE NO.
Pa�e ?•
Statutes 1961� a� amended� sh�ll be colleated and remitted to
the Port Authority by the County Treasurer in accordance with ,
the provisions oP law governing the collection of other tax�s
and ,shall be usec� solely for the p�yment of the princip�l an,d
interest on such bon� .
S�ction 4. Th�t s�id Port Authorit3r shall provide for
the ea�rcise of the authority hereby granted for ii�s issuance
and �ale of its s�id bonds �nd the pledge of the full f8ith�
credit and resources of sa�.d City of Saint Paul as ��curity
for the payment o� the sam.e� by its appropriate resolut3.ons ;
and that in e�ch such inatance s�id Port Authority ahall mF,ke
� due compliance with all appllcable requirements of this ordinance�
.said Chapters �-58 �nd 475, Minnesot� Statute� 1961,, as amended�
and a11 other �pplieable laws.
Section �. That tY�is ordira nce shsll take effeet and
be in force thirty daqs a�'ter ita pas��.ge� approval and
publie ation.
�p� 211966
Yeas Councilmen Nays Passed by the Council
Dalglish
Holland ..
Lo�$� ��va%� _ Favor
%� � r
Peterson A gainst
Rosen � 211�,��
Mr. President (Vavoulis) ��
Approved:
Attest:
City Clerk Mayor ,
'�z s-s2 �ZZ Form approved Corporation Counsel By
• �.
i" " , .
.
• `� h
•K ���' /
��
Res. No. 340
I✓�rch 22, 1g66
PORT AU�iORITY OF 2�iE CITY OF SAIlVT PAUL
RESOLUTION
W�REAS, the Port �uthority has heretofore issued its General Improve-
ment Bonds, Series A to E, inclusive, under and pursuant -Eo the pro�risions of
Minnesota Statutes, Section �+58.193, and ordi.na,nces adopted. by the Council of
the City of Saint Pau1, including Ordinance No. 11.913, dated February 3, 1.961,
Ordinance No. 12166, dated March 13, 1962, and Ordinance No. 12287, dated
September 5, 1962, and the fu11 amount of bonds authorized by said ordinances
have been issued and sold and the proceeds e.xpended in furtherance of the pro-
gram of port and industrial development within the Port District and the
Industrial Development District heretofore established, including the develop-
ments in Riverview Industrial Park, Northport and. Southport, and the initiaticn
of recreational development at Crosby La,ke Park, and
WBEREAS, preliminary plans and specifications have been initiated for the
acquisition of land and construction of improvements to land in the Pigs E�re La.ke
area within the Industrial Development District, as well as the areas presently unde
development, in flzrtherance of the over-a11 program of port, industrial and recrea-
tional development, and it is estima,ted that the fl�rther development of the program
will require additional commitments to be made 3.n the near �ture for which a flzrthe:
authorization of borrowing in the aggregate amount of $1 �500 ,0 00 should be secured,
NOW, THEREFORE, BE IT RESOLVED, that the Port Authority of the City of
Saint Paul does hereby make application to the Council of the City of Saint Paul for
authorization by ordinance, pursuant to Minnesota Statutes, Section �+58.193, of the
issuance and sa.le of its General Improvement Bonds 3n the aggregate �principal amount
of �1 ,5 OOfJ00 � over and above the amounts of bonds authorized by said existing ordi-
nances, to be issued and sold in one or more additional series, when and as found
necessary by the Authority, for the purpose of providing �ands to pay costs of the
port and industrial program and the recreational program for which the outstanding
bonds have been authorized, and the pled.ge of the flzll faith and credit and resource�
of the City for the payment of such bonds and interest thereon; said bonds to be is-
sued in complia.nce with all applicable requirements of such ordinance and of Minne- �
sota Statutes, Chapters �+58 and �-75, a,nd all other applicable laws, and bearing in-
terest at such rate or rates as the Counc il shall approve. �-
SE IT FURTHER RESOLVED, that the Secretary of the Port Authority be a.nd he
, is hereby directed to present a certified copy of this resolution to the Council of �
the City of Saint Paul, as and for such application.
. . Adopted: A4arch 22 � 196G. f
.
. �,.-�-���� - ���
President of the
Port Authority of the City of Saint Paul
. Attest:
. � Sec tary
� (SEAI,) .
�
. .�g ° � �
��aAARTV.S N.BBICidS F08ML"8LY
J.NEIL MO&TON ' HHIGOS.OILBffi,MOHfOA,HYLE 3 HAOA%fNEY.ESf.1B82
&IOHAHD E.fiYLE
vevm w,aeunarrBUSa B 13 I G G S A N D M O 13 G�.N xoYOex,neun�eusa,xoaaex,o�a nsv�s,asr.�es�
SAMUEL H.MOBOAN
AR�NR N.(;RARAM LAWYE B.S
OOLE OEHLEH
a.LdII&ENOE DevIS FI$ST NATIONAL BAN$ BUII.DINC} TgLgpgpNg
B�TT*r J.HA�fMOND
s.o.aaax SAINT PAUL, MINNE S OTA 5 5101 22�-eosi
JOHN M.SULLIVAN
ea$e oona e�
BII&T E.SWANSON
BSBNABD P.F87EL June 23, 1966
JOHN J.%INO
M.J.6AL1�IN�J$. OOIINSEL
DAVID O.FOHSHEHO ,
JOffi7 J.MoNEELY 6.S.MAQA.HINSY
TSBLNGE N.DOYLE 7ALiIS 5.HEADLEY
�aHd�H•$�$ 80HEBT O.SIILLIVAN
JONATHAN H.MOH6AN
H.L.SOBENSON
City Clerk
City of St . Pau1
City Ha11
Saint Paul, Minnesota
Re : Por� Authority of the City of
St . Paul, �1,500,000 bond issue
Our File: G5751.25
Dear Sir:
The Port Authority of the City of Saint Paul is required to
furnish a certif ied copy of Ordinance No. 13223 of the City of
Saint Paul adopted Apri1 21, 1966, and published April 23, Zg66,
along with an affidavit of publication of said ordinance to the
attorneys approving said bond issue, and f or incl.usion in the
bond transcript .
Would you please forward these items to the undersigned
for inclusion in the bond tr°anscript file. If there is any
charge for certification or affidavit, please submit your statement
along with these documents .
Very truly yours,
a
M. J. Galvin, Jr.
MJG:ea
CERTIFIED COPY OF ORD. N0. 13223 & AFFI]]AVIT OF PUBLTCATION
SENT TO THE ABOVE ON June 24, 1966.
� -_; � - . � . �-��� _.
; ��r _ ' , ���
STATE OF MINNESOTA) �. � - � -
� ) SS _ . ' -
COUNTY OF RAA4SEY � )
I , Bernard T. ��olland, Secretary of the Port Authority
of� th�e City of Saint Paul � do hereby certi�y that the attached
- copy of Resolution. No. 340- is a true and correct copy of said
' Resolution as adopted by the Port Authority Board of Commissioners -
at it,s meeting on A4arch 22 � 1966.
_ _ -
� - , �
� ' - � Bernar . o an _
_ . -- } " . - �
" � ' Subs.cribed and sworn to ��before ��. ,' � - � �
- - ,��` '' .. � '>+� _ ' rt� Q - ` '. ' - -� ' _
. � -- me this�._ `�7`' day of Apri 1 � 1966 . �
. _�t - _ ' `� _' _ . " _ �� „� � � > - :_ � - _ `� � '' ; 4 , "
. . � '� - - - " ' - � � � -
'�
, - . -
I , / 4 . _ - _
� ' a_;_ - � .� " ANCY BURRIS . , � . _. 4 ; ._ , - �+� -- �
� �� . • � =°r� Notar�Publlc, Ramsey County, Mln�.i -
• - _� My Commission Expires Rpril£i, 197i, .
. - - . . ' _1
. - . :
.r^ . . *,. ,
�� � � /
I st ii } 2nd
: � / '
Laid over to
• 3rd and app , ! —Adopted `�`"�
Yeas ' Nays Yeas Nays
�Dalglish Dalglish
�
olland olland
\Loss \Loss ,
\ � � . �����
�vleredith eredith
� .2etersvrr'� eterson J
� �
Rosen osen
Mr. President Vavoulis r. President Vavoulis
�O