05-88Page 1 of 1
Council File # S O b
Green Sheet # 3 aa501 ^ 1
CITY
Presented By
Referred To
Committee: Date:
GIVING PRELINIINARY APPROVAL TO THE
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 far the issuance of the following
bonds, in the following appmximate amounts, in conjunction with Springsted Incorporated as
financial consultant and Briggs and Morgan, Professional Associataon, as bond counsel, and in
connection therewith to prepare an official statement and such other documents as may be
necessary for fiuther approval of this City Council:
1. $19,000,000 General Obligation Capital Improvement Bonds.
2. $2,400,000 General Obligation Street Improvement Special Assessment Bonds.
3 $10,500,000 Water Revenue Bonds.
4. Such refixndings and advance refundings as to produce sufficient savings to justify
the issuance of these bonds.
Yeas Nays Absent
Benanav ✓
Bostrom ,i
IIartis J
Helgen �
Lantry �
Montgomery i/
Thune �/
� r
Adopted by Council: Date
Adoprion Certified by Council Secretary
�
Approv
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RESOLUTION
SAINT PAUL, NIINNESOTA
Requested by Office of Financial Services
� (Office/Depamnent)
By: 6� „
�\
Approved by Fin cial , etvices
By: �\v V �
Form Approved by City Attomey
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Approv
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OS—�Sd
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green 5heet �
FS ��uoiai serv;ces
Confact Person 8 Pho�:
Todd Huriey
26G8837
Must Be on Councd Aaeni
ContractType:
AR-RESELUTION W/$ TRANSACiION
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Green Sheet NO: 30250�(7
Deuartrnent
AsSign 1 e'ces e ar6n t' r
Numbet 2 • � • m
For 3 _` C�/�
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Tofal # of Signature Pages _(Clip All Locations for Signature)
Action Requested:
Authorization for the Office of Financial Services, Treasury to initiate all necessary action leading to the issuance of City General
Obligarion Capital Improvement Bonds m the approx amommt of $19,000,000; General Obligation Street Improvement Bonds in the
approx amount of $2,400,000; Water Revenue Bonds in the approx amount of $10,500,000 and refundings to produce savings to jusfify
issuance.
wanw�s: Appm�e (A) or R
Planning Commission
CIB Canmittee
Ciul Service Commission
Personal Service Contracts
�. Has this personlfirtn e�er worked under a contract for this department?
Yes No
2. Has this personlfirm e�er been a city employee?
Yes No
3. Does this personlfirm possess a ski0 not namaty possessed by arry
curtent city employee?
Yes No
Explairt all yes answers ort separate sheet and attach to greeo sheet
InkiaUng Problem, Issues, Opportunity (Who, What, When, Where, Why):
The Office of Financial Services desires to issue the following bonds in the appro�mate amounts:
$19,000,OOOGeneralObligationCapitalImprovement � ��„'� � �
$ 2,400,000 (}eneral Obligation Street Improvement Special Assessment �'�" ��
$IO,SOO,OOOWaterRevenueBonds ��� � � ?���
Any refunding issues that produce savings sufficient to justify the issuance.
Advantages IfApproved: � -
This resolurion is preliminary, as it only authorizes staff to begin this bond sale process. A detailed �3 $ sal�`�e
sale is pla�ned to be presented to the full Council oo Mazch 9, 2005.
Clisadvanpges If Approved:
None.
'?r: - �
.:..�.A - . �
Disadvanta5�es fFNotApproved:
Without a prelisninary resolution, the sta�'wouid not be authorized to initiate necessary action leading to this bond sale.
TohlAmountof
Transaction:
Funding Sou`ce;
Financial lnformation:
(Explain}
CosNRevenue BudgeMd:
ActivRy Number:
January 25, 2005 1:51 PM P�qe 1