222756- i�inil to City Clerk
PRESENTED BY
DINANCE 222756
COUNCIL FILE NO.
ORDINANCE NO.
,Pf Ord(ixiance amending Ordinance No. 11905, entitled:
'An ordinance providing therefor and authorizing
the issuance-and sale by the City of Saint Paul
of the bonds of said City in the par value amount
of $7,350,000, authorized by Chapter 538, Session
Laws of Minnesota for 1959, for the procurement by
said City of the necessary funds in the amount of
$7,350,000 for payment on account of said Cityt s
advances to the State of Minnesota, the latter acting
in the premises by and through its Commissioner of
Highways, therefor and not to exceed the said State's
share of the estimated cost of certain State Trunk
Highway Projects for the locations construction,
reconstruction, and improvement of certain State
Trunk Highways within the corporate limits of said
City, which advances in said amount of $7,350,000
said City agreed to make to said State for said purposes
under and pursuant to several Agreements made by and
between them, authorized thereby and in accordance
with the provisions, terms, and conditions of said
Chapter 538, Session Laws of Minre sota for 1959.'--- `
This is an emergency ordinance rendered necessary
for the preservation of the public peace, health,
and' safety." approved February 2, 1961. This is
an emergency ordinance rendered necessary for the
preservation of the public peace, health,and safety.
THE COIINCIL OF THECITY OF SAINT PAUL DOES ORDAIN:
Section 1. That Ordinance No. 11905, approved,-February 2, 1961,
be and the same hereby is amended by-striking Section 2 therefrom in
its entirety, and substituting in lieu and in place thereof a new
Section 2 reading as follows:
l
"Section 2. That each issue of said bonds shall be authorized
by resolution of the Council and shall be in the form of
serial bonds and the same shall bear such dateland mature at
such times as such resolution shall prescribe, provided that
the first installment of each issue of said bonds shall mature
not later than three (3) years from and after th6, date of the
same and the last installment of each issue of said bonds shall
mature not later than thirty (30) years from and after the
date of the same; that no amount of principal of each issue of
said bonds payable in any calendar year shall exceed",,five (5)
times the amount of the smallest amount of principal maturing
in any calendar year ending three (3) years or more after the
date of issue of the same; and that said bonds shall be issued
and sold by said City, in the manner provided by law. That said
bonds shall be in donowinations of $1,000, $5,000 or $10,000 as
authorized by the Council and shall bear interest not in excess
of six percent (6 %) per annum payable semiannually accordine to
oJi¢inal to City Clark
PRESENTED BY
ORDINAPTCE
.� Page 2.
COUNCIL FILE NO
222756
ORDINANCE NO. �� J
interest coupons to be attached to the same; that said bonds
shall be in the form prescribed by the Council of said City and
approved by its Corporation Counsel; and that said bonds shall bear
such interest as said City Council shall prescribe, and shall be
sold by said City Council for not less than 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 said City, shall be deposited by it in a special fund of said
City designated as "State Trunk Highway Project Advance Fund"
and allocated thereto and subject to disbursement only fon the
purposes aforesaid, in payment on account of the City's aforesaid
advances to the State of Minnesota therefor, and not to exceed
said State's-share of the estimated cost of proposed State Trunk
Highway Projects. for the location, construction, reconstruction,
and improvement of certain State Trunk Highways within the corporate
limits of said City, which advances said City agreed to make to said
State for said purposes, under and pursuant to said original Agreement
as amended by said Supplemental Agreement, by and between them,
under and in accordance with the provisions, terms, and conditions
of said !Chapter 538, Session Laws for 1959• That the proceeds of
the issuance and sale of said bonds hereby are appropriated thereto
and shall be used only in payment of said Cityts aforesaid advances
to said State therefor and not to exceed said Statets share of the
estimated cost of said proposed State Trunk Highway Projects within
the corporate limits of said City agreed to be made by said City
to said State under and pursuant to_said original_Agreement as
amended by said Supplemental Agreement by and between them under
and in accordance with the provisions, terms, and conditions of
said Chapter 538, Session Laws of -Minnesota for 1959•. That said
bonds shall be payable in lawful money of the United States of
America,'at the office of said Cityts Commissioner of Finance,
in said City of Saint Paul, or at the office of the Fiscal Agent
of said City in either Saint Paul, Minnesota, or New York, New
York, at the option of the holder, and the full faith and credit
of said City hereby are irrevocably pledged for the prompt and
faithful payment cf both principal and interest of said bonds.'"
The Council of said City hereby ratifies, approves and confirms the issuance
of those certain bonds specified in the Notice of Sale pertaining to such
bonds published by the City of Saint Paul on March 27, 1965, The Council
shall by resolution after sale of said bonds pursuant to said Notice of
Sale published on March 27, 1965, ratify and confirm the sale of such
bonds. 11
Sec. 2. This ordinance is hereby declared to be an emergency
ordinance rendered necessary for the preservation of the public peace,
health and safety. -
Sec. 3. This ordinance shall take effect and be in force from
t its passage, approval and publication.
Yeas Counci men Nays
Dalglish
Holland
Loss
Meredith ro
Peterson
Rosen
Mr. Pre sident (Vavoulis)
Attest:
A22 Q ` 4? t
City Clerk
IM "2 Form approved Corporation Counsel By
zTh Favor
0 Against
Approved: APR 2 0
M r
P BLISHED AN 24 1965.
r
DUPLICATE 10 PRINTER
ORDINANCE
222'756
COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO.-J
An Ordinance amending Ordinance No. 11905, entitled:
"An ordinance providing therefor and authorizing
the issuance and sale by the City of Saint Paul
of the bonds of said "city in the par value amount
of $793509000) authorized by Chapter 538, Session
Laws of Minnesota for 1959, for the procurement by
said City of the necessary funds in the amount of
$7,350,000 for payment on-account of said City's
advances to the State of Minnesota, the latter acting
in the premises by and through its commissioner of
Highways, therefor and not to exceed the said State's
share of the ' estimated cost of certain State 'Trunk
Highway Projects for the location, construction,
reconstruction, and improvement of certain State
Trunk Highways within-the corporate limits of said
City, which advances in said amount of tor 7,350 000
said City agreed to make to said State said purposes
under and pursuant to several Agreements made by and
between them, authorized thereby and in-accordance
with the provisions, terms, and conditions of said
Chapter 538, Session Laws of Mime sota for 1959.
This is an emergency ordinance rendered necessary
for the preservation of the public peace, health,
and safety." approved February 2, 1961. This is
an emergency ordinance rendered necessary for the
preservation of the public peace, health,and safety.
THE COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN:
Section le That Ordinance No. 11905, approved February 2, 1961,
be and the same hereby is amended by striking Section 2 therefrom in
its entirety, and substituting in lieu and in place thereof a new
Section 2 reading as follows:
"Section 2. That each issue of said bonds shall be authorized
by resolution of the Council and shall be in the form of
serial bonds and the same shall bear such date and mature at
such times as such resolution shall prescribe, provided than
the first installment of each issue of said bonds shall mature
not later than three (3) years from and after the date of the
same and the last installment of each issue of said bonds shall
mature not later than thirty (30) years from and after the
date of the same that no amount of principal of each issue of
said bonds payable in any calendar year shall exceed five (5)
times the amount of the smallest amount of principal maturing
in any calendar year ending three (3) years or mcr a after the
date of issue of the same; and that said bonds shall be issued
and sold by said City, in the manner provided by law. That said
bonds shall be in demoninations of $1,000 $5,000 or $10,000 as
authorized by the Council and shall bear interest not in excess
of six percent (6%) per annuli: payable semiannually according to
Yeas Councilmen Nays
Dalglish
Holland
Loss
Meredith
Peterson
Rosen
Mr.President (Vavoulis)
Attest:
City Clerk
IM "2 Form approved Corporation Counsel By
Passed by the Council
Approved:
Mayor
Tn Favor
Against
r t�
DUPLICATE TO PRINTER
r
ORDINANCE
222756
COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO.
„i Page 2.
interest coupons to be .attached to the same; that said bonds
shall be in the form prescribed by the Council of said City and
r approved by its Corporation Counsel; and tba t said bonds shall boar
such interest as said ,City Council shall prescribe, and shall be
sold by said City Council for not loss than par value plus accrued
interest,, to the highest bidder therefor, after two weeks' ppublished
notice of the time and place for receiving bids thereon. That
the proceeds from the issuance and sale of said bonds, as received
by said City shall-be deposited by it in' a special- fund of said
City designated as ll tate'Trunk Highway Project Advance find"
and allocated - thereto -and'subject to disbursement only for the
purposes aforesaid, - #4 payment on account of the City's aforesaid
advances to the State of Minnesota therefor$, and not to exceed
said Staters -share of the'estimated cost of proposed State Trunk
Highway Projedta for the location construction, reconstruction,
and improvemeint of certain' State gunk Highways within the corporate
limits of said'eity, which advances said City agreed to make to said
State for said purposes 'launder and pursuant to said original Agreement
am ®anded by said Supplemental Agreement,'by and between them
under and in accordance with.the provisions, terms, and conditions
of .said Chapter 538 Session saws for 1959e That the proceeds of
the issuance and sale of said bonds hereby'are appropriated thereto
and shall be used only 'in payment 'of said Cityr s aforesaid advances
to said State therefor and not to exceed said State's share of the
estimated cost of said proposed State Trunk Highway Projects within
the corporate limits of said City agreed:to be made by said City
to said State under and pursuant to said original Agreement'as
amended by said Supplemental Agreement by and between them under
t and in accordance with the provisions, terms, and conditions of
said Chapter 5382 Session laws of Minnesota for 1959. That said
bonds shall be payable in lawful money of the United Mates of
America, at ,the office of said Citye s Commissioner of Finance,
in said City of Saint "- Paul, or at the office of the Fiscal Agent
of said City in either Saint Paul, Minnesota, or New York, Now
York, at the option of the Molder and the fall faith and credit
of said,City hereby are irrevocably pledged for the prompt and
faithful payment of both principal and interest of said bonds.'
The Council ' of ' said City -hereby ratifies, approves and confirms the issuance
of those certain bonds specified in the Notice of Sale pertaining to such
bonds published by the City of Saint Paul on March 2'], 1965v Ilia Council
shall by resolution after sale of said bonds pursuant to said N'o'tice of
Sale published on March -'271 19659 ratify and confirm the sale of such
bonds. "
Sec. 2. This ordinance is hereby declared to be an emergency
ordinance rendered necessary for -the preservation of the public peace,
health and safety.
Sec. 3. This ordinance shall take affect and be in force from
and after its passage, approval and publication. 1°J !
Yeas Councilmen Nays
Dalglish
Holland
Loss
Meredith
Peterson
Rosen
Mr.President (Vavoulis)
Attest
Passed by the Council ApR "
Tn Favor
l) �
' A vuinnt
Approved: APR 2 0 19M
City Clerk Mayor
1M 642 Form approved Corporation Counsel By
I st 2nd
Laid over to
3rd and appdopted— UO
Ye Nays Yeas Nays
Dalglish alglish
\ Holland �
2 Loss 2 S _ Loss
Meredith Meredith
Peterson v L -"-eterson
- Aawrr -- \� Rosen
�..�( Mr. President Vavoulis
Mr. Vice PsesidZt (Rosen)