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224197 +�� , '' ` � �� 1 ORIOINAL TO C4Tr GLlRK � i '` � CITY OF ST. PAUL FOENCIL NO `� � OFFICE.OF THE CITY CLERK C U CIL SOLUTION-GENERAL FORM � �RESENTED EY � COMMISSIONE DAT� / RESOLVED, By the Council of the City of Saint Paul, that it satisfactorily appears from the pertinent report of the Commissioner of Finance, and said Council finds that the cash in said City�s Treasury is and will be inadequate to meet the City� s obli�ations for the current calendar year to the extent of Four Million Five Hundred Thousand Dollars, and that said City� s share of the uncollected portion of the real estate and personal property taxes levied for the current calendar year and to become payable to said City for application to the payment of its said obligations for the current calendar year represent an amount in, excess of Four Million Five Hundred Thousand Dollars; that it is necessary for the meeting of the said City�s aforesaid obligations that its Sinking Fund Committee be and said Committee hereby is authorized in behalf of said City, under and pursuant to Section 21g of said City' s Home Rule Charter, to borrow the sum of Four Million Five Hundred Thousand Dolla�s (Four Million Five Hundred Thousand Dollars - Department of �ducation) and to execute, and deliver the notes of said City therefor in the ag�regate principal` swn of Four Mi113.on Five Hundred Thousand Dollars, payable within the current cal- endar year and within not to exceed six (6) months from the date of . . " the same, with interest on said principal sum at a rate not to exceed �+� per annum, and to pledge the share of said City in the aforesaid 3 '� uncollected portion of said real estate and personal property tax;�,Y �� levies for the current calendar year; and . � RESOLVED FURTHER, That in the event of such borrowing hereunder,_„x the sum borrowed, Four Million �3.ve Hundred Thousand Dollars, shall be de osited in the C3t Treasu�t ` to su 1 said cash deficienc P Y �¢YR' PP Y 3t � therein in respect of the funds available for the meeting of said City' s obligations dur3.ng tY�e° current ca1endar year, such cash o � deficiency being, as aforesaid, in the principal amount of Four > �. Million Five Hundred Thousand Dollars, and that, to the extent � � of any such borrowing, hereunder, on behalf of said City, for said � �- purpose, said City� s share of such uncollected real estate and per- c� sonal property tax levies for the current year, shall be hereby �� COLJNCILI�N ��' Adopted by the Council 19.— , Yeas . Nays � � Dalglish Holland Approved 19— Loss ' ' rn Favor Meredith Pete rs on , �ByOr �� A►galIl9t � Rosen ' ' , Mr. President, Vavoulis � , '� 6...iG!� � IQ1II W� • `� ! � `;� ORIOINAL TO'C jY CLENK �f�� + � � : CITY OF ST. PAUL FOENCIL N� ��`°d ' � OFFICE OF THE CITY CLERK COUNCIL RESOLUTION—GENERAL FORM �RESENTED EY COMMISSIONEQ DA� . 2 deemed pledged to secure the repayment of the sum or sums borrowed as evidenced by said Cityrs note or notes, both principal� and interest, which shall be executed and delivered hereunder, said City� s share of such uncollected tax levie�d for the current year representing an amount in excess of Four Million Five Hundred Thousand Dollars plus interest thereon at not to exceed �+,� per annum which might accrue on any such authorized notes. ' 1 � aY+ * F 4 e�UN 2 9 �65 COUNCILII�N Adopted by the Council 19— Yeas Nays Dalglish �u� �+� 19� ---�� pproved 19— Loss Tn Favor ti Meredith Peterson v MByOr ��II A gainst Mr. President, Vavoulis pUBL1SHED .lUL � 1�6� , �o� �z DUrL�GT6 TO pIjINT[R 224�9'� • , CITY OF ST. PAUL FI�NCIL NO `�- OFFICE OF THE CITY CLERK COUNCIL RESOLUTION—GENERAL FORM ►RESENTED tY COMMISSIONE� DA� 2 deemed pledged to aecsure the repayment of the aum or sums borrowed ae evidenaed by ��id City�s note or notes, both � prinaipal and interest„ whieh shall be executed and delivered hereunder, said Cit��s share oF such uncolleated tax levied for the cvxrent year repreaenting an amoun� �.n exaess af Four Million Fitte Hundred Thousand Dollara plus �.nberest thereon at not to exaeed � per annum whiah m3.gh� acarue on any s�ah authorized notes. J�►N z 91965 COUNCILMEN Adopted by the Council 19— Yeas Nays �� ;� '9� Dalglish �io�snd— � Approved 1g_ Loss Tn F'aV01' Meredith Peterson � MAyOr �_w�_ a►g8inst Mr. President, Vavoulis ions e-� DUr4�:SCATC TO-T�11NT6R 224�� • CITY OF ST. PAUL Fo�NCa NO �'-_ OFFICE OF THE CITY CLERK COUNCIL RESOLUTION—GENERAL FOR.M �ESENTED!T COMMISSIONE� DATF RESO�VED, By the Couneil of the City of Saint Pau1, that it satie�aatori].y �.ppeara from the pertinent report of the Commiaaioner of Finanae, and eaid Counail find$ that the caeh in said City�e Trea�ury ig and will be inadequate to meet the City�� obligations for the current aalendar yeax to the ext�n� of Four Mi7.lion Five Hundred Thoueand Dollar�, and that said City�s share oP �he unaol�eated portion of the rea�. e�tate and personal property taxes levied for the current calendar year �,nct to beaome payable to $aid City for appliQation to the p�yment of lts eaid obligations for the current aalendaF year repre�ent an a.mount in exQes$ of Four Million Five Hundred Thousand Dollars; th�t it ia neoessary for the meeting of the said City�s aforesaid obligations that its Sinking Fund Committee be and said Committee hereby is au�horized in beha,lf ot' $aid City, under and pursuant to Seation 214 of said City�s Home Rule Charter, to borrow the aum of Four Million Five Hundred Thousand Dollar� (Four Million Five Hundred Thousand Dollara - Departmen� o� EduQation) and to exeaute and deliver the note� of said City therefor in the aggregate prinaipal aum oP Four Million Five Hundred Thouaand Dollars, payable wl�hin the aurr�nt Qal- endar year and within not to exceed aix (6) months fro�n the date of the same, with interest on said principal sum at a rate not to exceed 4�yd per annum, and to p�edge the �hare of said City in the aforesaid uncolleated portion of said real egtate and peraonal property tax 7evies for the ourrent calendar year; and RESOLVED FURTHER, Tha� in the event of such borrowing hereunder, the Bum borrowed, P'our Million Five Hundred Thou$and Dollars, shall be deposited in the City Treasury to supply said eash deficiency therein in respeet of the fluida available for the meeting of aaid Cityta obliga.tions during the aurren� aalendar year, such cash defi��.enay being, aa aforesaid, in the psinaipal amount of Four M11Zion Five Hundred Thousand Dollars, and tha.t, to the extent of any suah borrowing, hereunder, on behalf of gaid City, for said purpose, said City�s share of suoh uncolleated real eatate and per�- aonal property tax levies for the aurrent year, shall be hereby COUNCILI�N Adopted by the Council 19— Yeas Nays Dalglish Holland Approved 19— Loss Tn FAVOT Meredith Petersou �SyOr A g81IISt Rosen Mr. President, Vavoulis ions e�es