230360 J6RIG�AL TO CITY CLERK
23U�.��
CITY OF ST. PAUL FOENCIL NO.
�� OFFICE OF THE CITY CLERK
� - OUN RESOLUTION-GENERAL FORM
PRESENTED BY ` '
COMMISSIONE � DATF
RESOLUTION RELATING TO AND PROVIDING FOR
BORROWING MONEY IN ANTICIPA�'ION.OF RECEIPT
OF TAXES LEVIED IlJ THE YEAR. 1966 PAYABLE
DIIRING 1g67 AND PROVIDING FOR SALE OF A
CERTIFICATE n1� CERTIFICATES OF INDEBTEDNESS
THEREFOR. . _ _ . - -
WHEREAS, the City of Saint Pa.ul has heretofore, by
Resolution of theCouncil, Council File No. 230067, levied a
� tax for and certified to the Coun�y Auditor of Ramsey County
a tax levy providing for collection of taxes in 1g67 for the
control of insect pests, plant diseases, bee diseases, or rodent
control wi�hin the City of Saint Paul, as provided for in
Minnesota Statutes 1965, Sec. 18.022; and
WHEREAS, said Statute authorizes s�,�.d City to issue
tax anticipation certificatea to provide funds for such activi-
ties as specified by said statute after the tax has been levied
and certified to the County Auditor; and
WHEREAS, Minnesota Statutes 1g65, Sec. 18.022, Subd.
_ 3 reads as follows :
,
• _- .� .� "To provide funds for such activities in advance
� qf collection of the tax levies under subdivision 2,
�' � the governing body may, at any time after the tax has
� � �3een levied and certified to the county auditor for
,.�o collection, issue certificates of indebtedness in anti-
-b cipation of the co llection and payment of such tax.
o The �otal amount of such eertificates, including prin�
� < cipal and interest, ahall not exceed 90 percent of the
� amount of such levy and s�all be payable from the pro-
� - , ceeds of .such levy and not later than two years from �
� the date of issuance. They shall be issued on such
terms and conditions as the governing body may deter-
mine and sha11 be sold as provided in Minnesota S�atutea,
. Section 475.60. If the $overning body determines that
an emergency exists, it may ma.ke appro�riations from the
COUNCILMEN Adopted by the Council 19—
Yeas Nays
� �Carlson
� Dalglish . Approved 19—
Holland - �
` Meredith In Favor
Peterson Mayor
Tedesco A gainst
Mr. President, Byrne �
�2z
. ,
�1 ��Ll`��V
,�-
Page 2.
proceeds of such certificates for authorized purposes
without complying with statutory or charter -provisions
requiring that expenditures be based on a prior budget
authorization or other budgeting requirement ." ,
therefore be it
RESOLVID, by the Council of the City of Saint Paul
as f ollows : _ �
1. That it is hereby determined that an emergency
exists and that it is necessary to provide the amount of $100,000
by the issuance of a certif icate or certificates of indebtedneas
for the purpose of providing money authorized, by Minnesota �
Statutes 1g65, Sec . 18.022, for the control of Dutch Elm �
Disease wi�hin the City of Saint Paul, which amount is less
than 90 percent of the taxes heretofore levied for the pur-
poses authorized by the aforesaid statute and within the
provisions and limitations established by said statutory
enactment.
2. The certificate or certif icates of indebtedness
shall be dated January l, 1.967 and shall mature on January 2,
1.g68. Such certificate or certificates shall be in the form
hereinafter specified and in such amount or amounts as_ the
Sinking Fund Committee shall determine, but the total thereof - .
shall not exceed $100,000 plus interest thereon at�;a rate
not to exceed five percent (5�) per annum. ,
• 3. Such certificate o��certif icatea shall be pur-
chased by �he Sinking Fund Committee out of such funds as the
City Comptroller shall indicate are uncommitted and available
fbr investment in the purchase of such certif icate or certificates.
4. The certificate or certificates shall be prepared
in substantially the following form:
- No. $
KNOW ALL MEN BY THESE PRESENTS, That the City of
Saint Paul,. Minnesota hereby acknowledges itself to owe and
� for value received promises to pay to the Sinking Fund Committee
of the City of Saint Paul the sum of Dollars
($ ) in coin or currency of the �nited tates of
America which.on the date of payment is legal tender for public
and private debts on the 2d day of January, 1968, with interest .
6RIGIeAL TO CITY CLERK ���_ .l�a '
- CITY OF ST. PAUL couNCi� �� ``'
�l OFFICE OF THE CITY CLERK FILE NO.
�! COUNCIL RESOLUTION—GENERAL FORM �
PRESENTED BY
COMMISSIONER DATF -
' �' Page 3.
thereon payable at that date at the rate of percent
(_�) per annum upon presentation and surrender of this
Certificate of Indebtedness , both principal and interest
� payable at the office of the Commissioner of Financ e of the
City of �aint Paul, Minnesota. �
� For the prompt payment of this Certificate of
Indebtedness, both principal and interest, as �'oresaid, the
full faith and credit of the City of Saint Paul are hereby
irrevocably pledged.
Y
'I'his Certificate of Indebtedness is isaued pursuant
to and in accordance with the Constitution and Laws of the State
of Minnesota and in particular Minnesota Statutes ig65, Sec.
18.022, and the Charter of the City of Saint Paul, for the
purpose of anticipating receipt of taxes levied by the said
City for the year 1g67.
IN WITNESS WHEREOF, the Ci�y of Saint Paul haa caused
�his Certificate, of Indebtedness to be signed �by the signatures
. - of its Mayor, its City Clerk, and countersigned by the City
Comptroller, and has caused the official seal of said City to
be affixed thereto, a11 as o•f the day of September,
�966,
� �}, CITY OF SAINT PAUL, MINNESOTA
%' � ,_ .
. :r. BY
ayo r
Countersigned : ity erk �
City Comptroller
SEP 2� ����
COUNCILMEN � �-
. Adopted by the Council 19—
Yeas Nays
Carlson ��� � � ���
Dalglish � roved 19—
Holland �
Meredith In Favor
Petersori— ' Mayor
Tedesco � A gainst
Mr. President, Byrne � pI�BLISHED d�+� �. �+��
� � , �22'