The URL can be used to link to this page

222862 r"� � �161NAL TO CITj�GLEfiK • �� . , CITY OF ST. PAUL couNCa �� ' � OFFICE OF THE CITY CLERK FIlE NO � O�1 SOLUTION—GENERAL FORM j � . ►RESENTED CY COMMISSIONE DAT� OLVE , By the Council of the City of Saint Paul that it satisfactorily appears from the pertinent report of the �ommissioner of Finanee and said Couneil finds that the eash in said Cityts Treasury is and will be inadequate to meet the Cityts obligations for the current calendar year to the extent of Six Million Five Hundred Thousand Dollars� and that said Cityts share. of the uncollected portion of the real estate and personal property taxes levied for the eurrent ealendar year and to become payable to said City for applieation to the paym�nt of its said obligatio�s for the current calex�dar year represent an amount in excess of Sig Million Five Hundred Thousand Dollars; that it �.s necessary for the meeting of the said City�s aforesaid obligations that , its Sinking Fun.d Committee be an.d said Committee hereby is authorized ir� behalf of said City� urj.der and pursuant to Section 219 of said City�s Home Rule Charter� to borrow the sum of Six Million Five Hundred Thousand Dollars (Three Million Five Hundred Thousand Dollars - General City Governmer�t and Three Million Dollars - Education) and to execute and deliver the notes of said City therefor in �the aggregate principal sum of Six Million Five Hundred Thousand Dollars� payable within the current calendar year and within not to exceed.L��a�:z��n��Yr��y ;;�� „ from the date of the same� with in�erest on' said principal siam at a rate not to exceed 4� per annum, and to pl�dge the share of said City in the aforesaid uncolleeted portion of said real estate and personal property tax levies for the current calendar year; _ and _ -- -- - -- - --..- .. � ___ - � - _ _ RESOLVED FURTHER� That in event of such borrowing hereunder� the si�i borrowed� Six Millior� Five Hundred Thousa.nd Dollars� shall � be deposited in the City Treasury to supply said cash deficiency � therein in. respect of the f�nds available for the meeting of said ;,,�� o Cityts obligations during the current calendar year� such eash r>� � defieiency being� as aforesaid� in the principal amount of � .� � S�ix Million Five Hundred Thousand Dollars� and that� to the extent of any such borrowing� hereunder� on behalf of said � City� for said purpose� said Cityrs share of such uricolleeted � real estate and personal property �ax levies for the current year� sh�.11 be hereby deemed pledged to seQUre tYie repayment of the sum or swns borrowed as evidenced bp said City�s note COUNCILMEN Adopted by the Council Y9— Yeas Nays \ , Dalglish V � Holland ' . A ` Approve� 19— Loss � Favor Meredith Pete rs on M�yor A gainst Y' Rosen Mr. President, Vavoulis ' . - lons e-as dNIGINAL TO CIT�CLERK ��2g�� ; ' r CITY OF ST. PAUL ' couNCa OFFICE OF THE CITY CLERK FILE NO_ COUNCIL RESOLUTION—GENERAL FORM ►RESENTED BY COMMISSIONE� DA� � Page 2. or notes� both principal an.d interest� whioh shall be executed and delivered hereunder� said City�s share of such uncollected tax lev3es for the eurrent year representing an amoun.t in excess of Sig Million Five Hundred Thousand Dollars plus interest thereon at not to exceed �t� per annlam which might accrue on anp such authorized raotes. �pR g 1965 COUNCILI►�N � �� Adopted by the Council 19— Yeas Nays � 196� Dalglish APR 9 Holland Approved 19— Loss Favor Meredith � � Pete rs on U �yOr A$81IISt Rosen Mr. President, Vavoulis APR 10 1965 pUgLISHED iont e-ds � DUrLICATC TO rlllNT[R 2��g�2 �' � CITY OF ST. PAUL couNCi� t OFFiCE OF THE CITY CLERK F�« NO COUNCIL RESOLUTION—GENERAL FORtv! IRESENTED�Y COMMISSIONE� DATF RESOLYED� By the CounQil of the City of 8a�int Paul that it satisfactorily appear.s from the pertin�nt report o� the �o�ission�r of Finanee �n.d aaid Counail f�.nds that �he aa�h in s�id Ci�y� a Trea�ury is and will be inadequate to meet the City�s obligationa for the curr�nt aslendar y�ar to �he extent of Si� Million Five Hundred Thou�and Dollara� a�nd thr�t said City�� hare of the uneoll�ated portion of the real eatate nnd personal proper�y ta�cea levied tor the ourrent calendar year r.�nd �o become paqable to aaid City for applica�ion to the payaient of its said obligationa fbr �he current Qalendar year represent an amount in exce�� of Siy Million Five Hundred Thousand Dollars; t�at 3t is neeessary for the maeting of the said Ci�y� s af'oresaid obl3gations tha� its Sinking Fund Comm3.tt�e be and said Comffiittee hereby is suthorized in behalf of said Ci�y� under and pursuant to Section 219 o�' s�id City's Home Rule Charter, to borrow the �um of Six Million Fiv� Hundred Thousand Dollars (Three MiZlion Five Hundred Thous�nd Dolla�rs - General City aovernmen� and Three Million Dollars - Education) and to execut� and deliver th� notes oP sa3d �ity therefor in the aggregate pr3ncipal sum of Six Million Five Hundred Thou�and Dollars� payable within the current cal�ndar ye�r nnd within not to exceed :fo_u� (4�) mori-ths ' � � , � from the date of th� same� with interest on said principal sum at a rate not to e$ceed 4� per ann�un� and to pledge the share of said City in the aforesaid uncollecte8 portion of said real estate �d� personal property tax lenies for the current calendar year; RESOLVED FURTHER� That in event of such borrowing hereunder the sum borrowed, Sig Million Five Hundred Thousand Dollars �ha�l be deposited in the City Treasury to supply said cash defic�ency therein in respect of the funds available for the meeting of said City� s obligations during the current calendar ye�r, suQh cssh deficiency being� as aforesaid� in the principal amount of S�ix Million Five Hundred Thousand Dollars� and that� to the ex�ent of eny such borrowing� hereun.der� on behalf of said Ci�y� for sr�d purpose� said City' s share of such uncollected real est�►te and per�onal property tax levies for the current year� shdll be hereby deemed pledged to seaure the repayment of the sum or �ums borrowed as evidenced by said City' s note COUNCILMEN Adopted by the Council 19— Yeas Nays Dalglish Holland Approved 19— Loss Tn F'SVOI' Meredith Peterson MAyOr A g8iII3t Rosen Mr. President, Vavoulis 10� e�es , DUrLICATC TO rItINT[R �22��2 `'" � CITY OF ST. PAUL couNCa � OFFICE OF TH� CITY CLERK F�« NO COUNCIL RESOLUTION—GENERAL FORM IRESENTED �Y COMMISSIONE� DA� Page 2. or notes, both principal and interest� �rhieh shall be e�ecuted and delivered hereunder, a�id Gity�� ah�r� of auah uncollect�d ta� levies For the aurrent year representing an amount in excess of 3ia Million Five Hundred Thouaand Dollars plus in�erest thereon at not to exeeed 4� per annum which m3.ght acerue on any such authorized notes. APR 9 � COUNCILI�N Adopted by the Council 19— Yeas Nays APR 9 ��J Dalglish Holland Approved 19— Loss Tn F,AVOL' Meredith Peterson � MSyOr A gainst Rosen Mr. President, Vavoulis lo�t e�s