229705.?RIGINAL YO CITY CLERJC I �O✓l
CITY OF ST. PAUL COUNCIL
FILE NO. V7
OFFICE OF THE CITY CLERK
CQUNCIL._ SOLUTION— GENERAL FORM
PRESENTED BY
Comm ISSIONE
RESOLVED, by the Council of the City of Saint Paul,
,that this Council does hereby concur in each and all of the
.terms and provisions of Resolution No. 353 , adopted by the
-Port Authority of the City of Saint Paul, dated July 19, 1966,
,entitled "Resolution Awarding Sale of $1,500,000 General
,Improvement Bonds, Series F, Fixing �he Interest Rates and
Other Terms Thereof, and Levying and Appropriating Taxes for
the Payment of Principal and Interest Thereon ", a copy of which
has been certified to the Council by the Secretary of the Port
,Authority and is now on file in the office of the City. Clerk,
,and, by reference, incorporated-herein and made part and parcel
.hereof, and the Council specifically, but without limitation,
-concurs in the award of sale of bonds, interest rates, date,
denominations, place of payment, form and details of the Port
Authority's General Improvement Bonds, Series F. in the amount
of $1,500,000 dated June 1, 1966, as specified in said resolution,
and in the years and amounts specified for the taxes level for the
ZFPPROVED
COUNCILMEN
Yeas Nays orporation
Co I pted by the Council 19—
Carlson
Dalglish
Holland
Meredith
Peterson
Tedesco
Mr. President, Byrne
Tn Favor
A gainst
Approved 19—
Mayor
22
- ORIGFNAL TO CITY CLERJ( 229705
CITY OF ST. PAUL FIOENCIL NO.
• OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
payment of said bonds, and does hereby find, determine
and declare that all such provisions are in accordance with
Ordinance No. 13223 of the City of Saint Paul, adopted April
,211 1966, and are hereby approved, ratified and confirmed.
COUNCILMEN
Yeas Nays
Carlson
Dalglish
Holland
Meredith
Peterson _
Tzdesco-
Mr. President, Byrne
AUG 3 1966
Adopted by the Council 19—
3 1966
pproved 19—
Tn Favor
d
Mayor
A gainst
PUBLISHED AUG 6 1966
22
f�
STATE OF MINNESOTA)
) ss.
COUNTY OF RAMSEY )
I, the undersigned, being the duly qualified and acting Secretary of the
Port Authority of the City of Saint Paul, hereby certify that I have compared the
attached and foregoing documents with the originals thereof on file and of record
in my office and find the same to be full, true and correct copies of the following:
(a) Minutes of a regular meeting of the Port Authority duly called and
held on July 19, 1966, so far as such minutes relate to $1,500,000 General Improve-
ment Bonds, Series F of the Port Authority.
(b) Resolution No. 353, as adopted at said meeting, entitled "RESOLUTION
AWARDING SALE OF $1,500,000 GENERAL IMPROVEMENT BONDS, SERIES,F, FIXING THE INTEREST
RATES AND OTHER TERMS THEREOF, AND LEVYING AND APPROPRIATING TAXES FOR THE PAYMENT
OF PRINCIPAL AND INTEREST THEREON ".
WITNESS my hand and the seal of the Port Authority of the City of Saint
Paul this 19th day of July, 1966.
(SEAL)
Bernard T. Ho and, Secretary
Port Authority of the City of Saint Paul
Extract of Minutes of Regular Meeting
Port Authority of the City of Saint Paul 229705
Saint Paul, Minnesota
July 19, 1966
Pursuant to due call and notice thereof, a regular meeting of the Port
Authority of the City of Saint Paul was held at its offices at 1130 Minnesota Build-
ing, 46 East Fourth Street, Saint Paul, Minnesota, on Tuesday, July 19, 1966, at
2:00 o'clock P.M., Central Daylight Saving Time.
The following Commissioners were present:
Fred W. Fisher, Chairman Richard C. Radman
Gerald J. Isaacs Seymour Verhey
Robert F. Peterson Bernard T. Holland
H. William Blake
and the following were absent:
The Treasurer of the Port Authority presented affidavits showing publica-
tion of the official advertisement of notice of sale of $1,500,000 General Improve-
ment Bonds, Series F, as directed at the Port Authority's meeting on June 21, 1966,
which affidavits were examined and found satisfactory and directed to be placed on
file in the office of the Secretary.
The Treasurer reported that six sealed bids had been received in accord-
ante with the official advertisement up to 9:30 this date, and were then opened and
tabulated, and he presented the bids so received and his tabulation thereof.
After examination and consideration of the bids by the Port Authority,
Commissioner H. Wm. Blake introduced the following resolution and moved its
adoption:
RESOLUTION AWARDING SALE OF $1,500,000 GENERAL
IMPROVEMENT BONDS, SERIES F, FIXING THE INTEREST
RATES AND OTHER TERMS THEREOF, AND LEVYING AND
APPROPRIATING TAXES FOR THE PAYMENT OF PRINCIPAL
AND INTEREST THEREON
-1-
The motion for the adoption of the resolution was duly seconded by Commissioner
R. C. Radman , and upon vote being taken thereon, all Commissioners present voted
in favor thereof as follows:
Gerald J. Isaacs, Robert F. Peterson, Richard C. Radman, Seymour Verhey,
Fred W. Fisher, Bernard T. Holland and H. William Blake.
whereupon the resolution was declared duly passed and adopted and was designated as
Resolution No. 353• A copy of the resolution is attached hereto and made a part of
these minutes.
U
-2- r
Res. No. 353
July 19, 1966
PORT AUTHORITY OF THE CITY OF SAINT PAUL
RESOLUTION
RESOLUTION AWARDING SALE OF $1,500,000 GENERAL
IMPROVEMENT BONDS, SERIES F, FIXING THE INTEREST
RATES AND OTHER TERMS THEREOF, AND LEVYING AND
APPROPRIATING TAXES FOR THE PAYMENT OF PRINCIPAL
AND INTEREST THEREON
RESOLVED, By the Port Authority of the City of Saint Paul, as follows-:-
1. Under and pursuant to Resolution No. 349 adopted by the Port Authority
on June 21, 1966, and Ordinance No. 13223 of the City of Saint Paul adopted by the
City Council on April 21, 1966, and the pertinent provisions of Minnesota Statutes,
as amended, including Section 458.193 and Chapter 475, the Port Authority has pro-
vided for public sale of $1,500,000 General Improvement Bonds, Series F, and has
caused notice of the time and the place for the receiving of the bids to be pub-
lished not less than two weeks before the date of receiving bids, and has considered
all bids received pursuant to the published notice, and does hereby find and deter-
mine that the highest and best of such bids is that of The Chase Manhattan Bank,N.A.,
of New York, New York, and Harris Trust and Savings ]lank, of Chicago, Illinois, to
purchase the bonds at a price of par plus accrued interest to the date of delivery
thereof, plus a premium of $26.00 , and bearing interest at the respective rates
stated below, and subject to the further terms and conditions stated in this reso-
lution and in said Ordinance No. 13223. The sale of the bonds is hereby awarded to
said bidder, provided that the Secretary shall forthwith present this resolution to
the City Council of the City of Saint Paul, for approval of the remaining provisions
of the bonds herein stated which require such approval under law, other than those
established by said ordinance, and after such approval the President and Secretary
shall make and execute on the part of the Port Authority a contract for the sale of
the bonds upon these terms. The good faith check furnished by the successful bidder
shall be retained by the Treasurer of the Port Authority until the bonds have been
delivered and payment has been made in full, and the Treasurer shall return the
checks of other bidders forthwith.
2. Said General Improvement Bonds, Series F shall now be issued and de-
livered in the aggregate principal amount of $1,500,000 and in the denomination of
$5,000 each, payable to bearer, shall be 300 in number and numbered from 1 to 300,
inclusive, shall be dated as of June 1, 1966, and shall mature serially, lowest nium-
bers first, on June 1 in the years and amounts as follows, bearing interest at the
respective annual rates stated opposite their maturity years and amounts:
-1-
3• The bonds shall be prepared for execution under the direction of the
Secretary, in substantially the form set forth in Ordinance No. 13223, and when so
prepared shall be executed by tha lithographed facsimile signatures of the Presi-
dent of the Port Authority, countersigned by the lithographed facsimile signature
of the Treasurer, attested by the manual signature of the Secretary, and sealed with
a lithographed facsimile of the official seal of the Port Authority, and each of the
interest coupons annexed to the bonds shall be executed and authenticated by the
lithographed facsimile signatures of the President and Secretary, and a true and
correct copy of the opinion rendered by bond counsel as to the validity of the is-
sue, to be rendered at the time of delivery thereof, shall be printed on the reverse
side of each bond. When the bonds and coupons have been so prepared and executed,
they shall be delivered by the Treasurer of the Port Authority to the purchaser,
upon payment of the purchase price above stated, and the purchaser shall not be
obligated to see to the application of the purchase price. However, the proceeds
of the bonds shall be segregated by the Treasurer in a separate and special fund of
the Port Authority, and shall be used solely for the purpose for which the bonds
were authorized as stated in Ordinance No. 13223.
-2-
Interest
Interest
Year
Amount
Rate
Year Amount
Rate
1969
$30,000
3.90%
1983 $50,000
3.90%
1970
30,000
3.90%
1984 50,000
3.90%
1971
303,000
3.90%
1985 60,000
3.90%
1972
30,000
3.90%
1986 60,000
3.90%
1973
40,000
3.90%
1987 6o,000
3.90%
1974
40,000
3.90%
1988 60,000
3.90%
1975
4o,000
3.90%
1989 70,000
3.90%
1976
4o,000
3.90%
1990 70,000
3.90%
1977
40,000
3.90%
1991 70,000
3.90%
1978
40,000
3.90%
1992 70,000
3.90%
1979
40,000
3.90%
1993 80,000
4.00%
1980
50,000
3.90%
1994 80,000
4.00%
1981
50,000
3.90%
1995 80,000
4.00%
1982
50,000
3.90%
1996 90,000
4.00%
The bonds maturing in
the years 1987 through
1996 shall each be subject to
redemp-
tion
and prepayment, at the option of the Port Authority, on June 1, 1986,
and on
any
interest payment date thereafter, at a price of par and accrued interest
and in
inverse order of their serial numbers. Not
less than 30 days prior to the
date spe-
cified for the redemption of said bonds, the
Treasurer will mail notice of
the call
thereof to the holder,
if known, and to the bank at which principal and interest
are
then
payable. Said Treasurer shall maintain
a record of the serial numbers
of pre-
payable bonds and the
names and addresses of
the holders thereof, so far as
such
information is made available to him for the
purpose of mailing such notices. The
interest on the bonds
shall be payable December 1, 1966, and semiannually thereafter
on June 1 and December 1 in each year, and both principal and interest shall be pay-
able
at the Harris Trust and Savings Bank, in Chicago, Illinois, or, at the
option
of the holder, at The
Chase Manhattan Bank, N.A., in New York, New York, and the
Port
Authority hereby
agrees to pay the reasonable and customary charges of the pay-
ing
agents for the receipt and disbursement
of the principal and interest.
3• The bonds shall be prepared for execution under the direction of the
Secretary, in substantially the form set forth in Ordinance No. 13223, and when so
prepared shall be executed by tha lithographed facsimile signatures of the Presi-
dent of the Port Authority, countersigned by the lithographed facsimile signature
of the Treasurer, attested by the manual signature of the Secretary, and sealed with
a lithographed facsimile of the official seal of the Port Authority, and each of the
interest coupons annexed to the bonds shall be executed and authenticated by the
lithographed facsimile signatures of the President and Secretary, and a true and
correct copy of the opinion rendered by bond counsel as to the validity of the is-
sue, to be rendered at the time of delivery thereof, shall be printed on the reverse
side of each bond. When the bonds and coupons have been so prepared and executed,
they shall be delivered by the Treasurer of the Port Authority to the purchaser,
upon payment of the purchase price above stated, and the purchaser shall not be
obligated to see to the application of the purchase price. However, the proceeds
of the bonds shall be segregated by the Treasurer in a separate and special fund of
the Port Authority, and shall be used solely for the purpose for which the bonds
were authorized as stated in Ordinance No. 13223.
-2-
M
4. In accordance with said ordinance and laws, there is hereby levied
for each year, until the principal and interest of the bonds are paid in full, a
direct, annual, ad valorem tax on all the taxable property in the City of Saint Paul,
not less than five per cent in excess of the sums required to pay the principal and
interest thereon when and as such principal and interest mature. Such tax shall be
extended upon the tax rolls prepared in the following respective years, in the
amounts stated for such years:
Year
Amount
Year
Amount
Year
Amount
1966
$123,543.00
1976
$90,667.50
1986
$90,783.00
1967
93,271.50
1977
89,029.50
1987
98,826.00
1968
92,043.00
1978
97,891.50
1988
95,959.50
1969
90,814.50
1979
95,844.00
1989
93,093.00
1970
89,586.00
1980
93,796.50
1990
90,226.50
1971
98,857.50
1981
91,749.00
1991
97,860.00
1972
97,219.50
1982
89,701.50
1992
94,500.00
1973
95,581.50
1983
98,154.00
1993
91,140.00
1974
93,943.50
1984
95,697.00
1994
98,280.00
1975
92,305.50
1985
93,240.00
Said tax shall be collected in the respective succeeding years, together with other
general taxes levied in the City of Saint Paul. After the delivery of the bonds,
such tax shall be irrepealable until all such indebtedness is paid, and after the
issuance of the bonds no further action by the Port Authority shall be necessary to
authorize the extension, assessment and collection of such tax. The Secretary shall
forthwith furnish to the County Auditor of Ramsey County a certified copy of this
resolution and of the resolution of the City Council of Saint Paul concurring herein,
together with full information regarding the bonds for which the tax is levied, and
the tax shall then be extended and assessed and the proceeds thereof accounted for
as provided in said Ordinance No. 13223.
5. The President, Secretary, Treasurer and other officers of the Port
Authority and the officers of the City of Saint Paul are authorized and requested
to furnish to the purchaser of the bonds, and to the attorneys approving the legal-
ity thereof, certified copies of all ordinances, resolutions and other actions and
proceedings taken by the City and Port Authority with reference to the authoriza-
tion, issuance, sale and delivery of the bonds, and such certificates or affidavits
as to other matters appearing in their official records or otherwise known to them,
as may reasonably be required to evidence the validity and marketability of the
bonds; and all certified copies, certificates and affidavits so furnished, includ-
ing any heretofore furnished, shall be deemed representations of the Port Authority
as to the correctness of all facts and the taking of all actions stated or recited
therein.
6. Pursuant to the specific authorization contained in said Ordinance No.
13223 of the City of Saint Paul, the full faith, credit and resources of said City,
as well as those of the Port Authority of the City of Saint Paul, are hereby pledged
-3-
for the prompt and full payment of the principal of and interest on the bonds here-
in authorized as such principal and interest become due. In the event that the
collections of the tax herein authorized should at any time be insufficient for the
payment of such principal or interest, the Port Authority is authorized and obli-
gated under Minnesota Statutes, Sections 475.61 to 475.74 to levy additional taxes
upon all the taxable property within the City to make good such deficiency, Which
levies may be made without limitation as to rate or amount.
Attest:
(SEAL)
Adopted July 19, 1966.
-4-
President, Port Authority
OURRUPU62m. TO DEP$RTMENT
CITY OF ST. PAUL COUNCIL NO Q9
FILE OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE _
RESOLVED t by the Council of the City of Saint Paul,
that this Council does hereby concur in each and all of the
terms and .provisions of Resolution NO. 353 , adoptad by the
Port Authority of the City of Saint Paul, Hated July 19, 19666
entitled "Resolution Awarding Sale of 51,500,000 General
Improvement Bonds, Series F, Fixing the Interest Mates and
Other Terms Thereof, and Levying and Appropriating Taxes for
the Payment of Prinoipal and Interest Thereon ", a copy of Which
has been certified to the Council by the Secretary of the Port
Authority and is now on file in the office of the City Clerk,
and, by reference, incorporated herein and made part and parcel
hereof, and the Council specifically, but without limitation,
concurs in the award of sale of bonds, interest rates, date,
denominational place of payment, form and details of the Port
Authority's 0eneral Improvement Bonds, Serifs F. in the amount
of 31,500,000 dated June 19 1966, as specified in said resolution,
and in the years and amounts specified for the takes levid for the
COUNCILMEN Adopted by the Council 19_
Yeas Nays
Carlson
Dalglish Approved 19—
Holland
Meredith Tn Favor
Peterson Mayor
Tedesco, A gainst
Mr. President, Byrne
22
i
QUA,QRUPLICXTE TO DEPARTMENT F
CITY OF ST. PAUL COUNCIL NO. D�
OFFICE OF THE CITY CLERK
COUNCIL ,RESOLUTION— GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
payment of said bonds, and does hereby find, determine
and declare that all such provisions are in accordance with
Ordinance No. 13223 of the City of Saint Paul, adopted April
21, 1966, and are hereby approved, ratified and confirmed.
COUNCILMEN
Yeas Nays
Carlson
Dalglish
Holland
Meredith n Favor
Peterson
"%desco-. A gainst
Mr. President, Byrne
AUG 31966
Adopted by the Council 19_
AUG 31sfa
Approved 19_
Mayor
22