221516.= TORIGINAL TO CITY CLERK 221516
CITY OF ST. PAUL COUNCIL NO
FILE OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER -L�� DAB
RESOLVED, That the Council of the City of Saint Paul hereby
approves:
"A BILL FOR AN ACT RELATING TO THE CITY OF SAINT PAUL;
AUTHORIZING THE CITY OF SAINT PAUL TO ACQUIRE THE REQUISITE
SITE OR SITES THEREFOR AND TO CONSTRUCT AND EQUIP ADDITIONAL
BUILDINGS OR STRUCTURES WHICH ARE TO BECOME PART OF THE
MUNICIPAL AUDITORIUM COMPLEX OF SAID CITY AND TO RECONSTRUCT,
EXPAND AND MODERNIZE THE EXISTING AUDITORIUMS TO PROVIDE
NECESSARY NEW EQUIPMENT THEREFOR, AND TO ERECT VEHICULAR
OFF - STREET PARKING RAMPS OR AREAS, ALL OF THE SAME TO
CONSTITUTE AN INTEGRAL. PART OR INTEGRAL PARTS OF THE MUNICIPAL
AUDITORIUM COMPLEX OF THE CITY OF SAINT PAUL UNDER THE CONTROL
AND MANAGEMENT OF ITS COMMISSIONER OF LIBRARIES, AUDITORIUM
AND CIVIC BUILDINGS; AND FURTHER, AUTHORIZING THE CITY
OF SAINT PAUL TO BORROW A SUM OF MONEY NOT TO EXCEED
$9 000 000 FOR SAID PURPOSES AND THEREFOR TO ISSUE"'AND
SELL, FROM TIME TO TIME, AND WITHOUT SUBMISSION OF THE
QUESTION OF THE ISSUANCE OR SALE OF THE SAME TO A VOTE
OF THE ELECTORATE$ THE GENERAL OBLIGATION BONDS OF
SAID CITY IN SAID LIMITED SUM NOT TO EXCEED'$990009000,
AND TO SECURE THE PAYMENT OF SAID BONDS BY THE PLEDGE
OF THE FULL FAITH AND CREDIT OF SAID CITY."
and recommends the same to the Ramsey County Senate and House
delegations.
FOR fROVEID �
Ask. Corporation munsel
JAN 151955
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Dalglish JAN 151965
Holland Approved 19—
Loss 6 In Favor
Meredith
Peterson
�lj WAV Mayor
Against
`k ssen—
PUBLISHED JAN 2 3 1966
MA. S'ice President (Rosen)
ions e-as
• 1 -9 -65 City B111 1VQ42
A BILL FO!�. : 7T A.OT
RELATING TO THE CITY OF SAi.'T-T PAUL; AUTHORIZING
THE CITY OF SAINT ?AUL TO ACQUIRE THE REQUISITE
SITE OR SITES THEREFOR AND TO CONSTRUCT AND EQUIP
ADDITIONAL BUILDINGS OR STRUCTURES WHICH ARE TO
BECOME PART OF THE MUNICIPAL AUDITORIUM COMPLEX
OF SAID CITY AND TO RECONSTRUCT,, EXPAND AND
MODERNIZE THE EXISTING AUDITORIUM, TO PROVIDE
NECESSARY NEW EQUIPMENT THEREFOR, AND TO ERECT
VEHICULAR OFF- STREET PARKING RAMPS OR AREAS,
ALL OF THE SAME TO CONSTITUTE AN INTEGRAL PART
OR INTEGRAL PARTS OF THE MUNICIPAL AUDITORIUM
COMPLEX OF THE CITY OF SAINT PAUL UNDER THE
CONTROL AND MANAGEMENT OF ITS COMMISSIONER OF
LIBRARIES, AUDITORIUM AND CIVIC BUILDINGS; AND
FURTHER, AUTHORIZING THE CITY OF SAINT PAUL TO
BORROW A SUM OF MONEY NOT TO EKCEED $9,000,000
FOR SAID PURPOSES AND THEREFOR TO ISSUE AND
SELL, FROM TIME TO TIME, AND WITHOUT SUBMISSION
OF THE QUESTION OF THE ISSUANCE OR SALE OF THE SAME
TO A VOTE OF THE ELECTORATE, THE GENERAL OBLIGATION
BONDS OF SAID CITY IN SAID LIMITED SUM NOT TO EXCEED
• $9,000,000, AND TO SECURE THE PAYMENT OF SAID BONDS
BY THE PLEDGE OF THE FULL FAITH AND CREDIT OF SAID
CITY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. Subdivision 1. The city of Saini, Paul is hereby
authorized to acquire the requisite site or sites therefor and
to construct and equip additional buildings or structures which
are to become part of the municipal auditorium complex of said
city and to reconstruct, expand and modernize the existing
auditorium, to provide necessary new equipment therefor, and to
erect vehicular off - street parking ramps or areas, all of the same
to constitute an integral part or integral parts of the municipal
r
auditorium complex of the city of Saint Paul un der the control and
management of its commissioner of libraries, auditorium and civic
• buildings, and for the purpose of its procurement of the necessary
money for the payment of its costs and expenses incurred and to be
incurred in the acquisition of said site or sites therefor and in
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1 -9 -65 No .42
the construction and equipment of any such buildings or structures,
hereunder, said city is hereby authorized and empowered to borrow
a sum not to exceed $9,000,000 and to provide therefor by resolution
and therefor to issue and sell, from time to time, and without the
submission of the question of the issuance or sale of the same to
a vote of the electorate of said city, the general obligation bonds
of said city in the aforesaid sum and amount of $9,000,000, and to
secure the payment of such general obligation bonds by the pledge of
the full faith and credit of said city therefor.
Subd. 2. The aforesaid hereby authorized general obligation
bonds of said city, for said purposes, in said sum and amount not to
exceed $9,000,000, shall be issued and sold in accordance with
• Minnesota Statutes 1961, Chapter 475, as amended, except, as
aforesaid, that no election nor vote of the electors of said city
thereon shall be required for the authorization of the issuance or
sale of such bonds or for the issuance or sale of any of the same.
Such bonds shall be in such form and bear interest at such rate, not
to exceed six per cent per annum, as the council of said city may
prescribe, and shall be sold by the council of said city to the
highest bidder therefor after at least two weekst published notice
of the time and place for receiving bids. Said bonds shall be
issued to mature serially, the first installment of which shall
become due and payable in not more than three years and the last
of which shall become due'and payable in not more than thirty years
from the date of their issue. The proceeds received from the sale
• of such bonds shall be deposited by the city in a fund to be
designated as "Auditorium Complex Project Fund" and the moneys shall
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• 1 -9 -65 Bill No. 42
be disbursed therefrom forthe purposes aforesaid in the same manner
as other funds of the city are disbursed, but only for said purposes
herein expressed. The amount of such bonds from time to time
outstanding shall not be considered in determining the net
indebtedness of said city for the purpose of borrowing money or other
purposes and the amount of such bonds or certificates of indebtedness
shall be excluded in determining the debt limit of the city.
Sec. 2. Neither the sale of such hereby authorized bonds nor
the receipt ofthe proceeds thereof, nor the expenditure of the same
hereunder, nor any tax levy required for the payment of such bonds,
shall be included within the definition thereof or subject to any
statutory or charter limitation otherwise imposed on said city's
is net indebtedness, expenditures, appropriations or taxing authority,
and hereby shall be deemed effectively excepted from the same. The
council of the city of Saint Paul may provide by resolution that
there may be set aside annually all or any portion of the net
profits derived from the operation of the auditorium complex a
.sufficient amount to pay the interest on said bonds and the principal
of any such bonds maturing in any such year; and in the event such
revenue is insufficient for this purpose, the council of said city
shall include in the tax levy a sufficient amount for the payment of
such interest as it accrues and for the accumulation of a sinking
fund for the redemption of such bonds at their maturity.
Sec. 3. This act shall become effective only after its approval
by a majority of the governing body of the city of Saint Paul and upon
compliance with the provisions of Minnesota Statutes, Section 645.021.
KI