218634 ,�� , _ Y � •
`� 1 � . - ' a•icil File No. 218634—By George J.
ORIGINAL TO LITY CLERK Ii'��11IL5, MHyOT- ^�_^�� I
�+ r eas, Chapter 581, Session Laws w'O ` 1 b� �4
" 1' I t+�� QF J ;rsota for 1963, according to its COUNCIL � �T �9 ��
,r� provisions, terms and condi- FILE � �
OFFICE OF TH� 4'�me operative, upon its ap-
rJ� inaior�ty vote of the City
COUNCIL RESOLUTIO�V�� 1',e ���:� =,� sein� paw, evi- PiJ$LISI�ED �—� � — �`��� .
i � _ , ti:,i a�:ie'•, A.esolution
►RESENTED RY � ` ,.iL ,n3�i`:I7�„ir'"•�tecl'and
�: ,.h�..-� •>�+,, u•�•.�,9f.d,
COMMISSIONE '� -ATE= : r•�k
,.7'�' i
:=,-
� ' WHEREAS, Chapter 881, Session Laws of Minnesota
for 1963, according to its pertinent provisions, terms and
conditions� became operative, upon its approval by majority vote
of the City Council of the City of Saint Paul, evidenced by sa�d
Council' s Resolution, Council File No. 213377, adopted and approved
the 18th day of June� 1963, and the Certifica�e of the City
Clerk of said City incorporating a certified copy of said'
Resolution� the Printer ' s Aff,id,avit of the Official Publication
of the same and all other requisite data� filed with the Secretary
of State of the State of Minnesota� on the lst day of July, 1g63,
in accordance with the Statutes of the State of Minnesota 3n
_ -.,� such cases� ,made and provided; and
WH�REAS, Said Chapter 881, Session Laws of Minnesota
_ for 1g63, among other things, for the purpose of said City' s
paym.ent of not to exceed one-third of the Net Project Cost of
each of the several Urban Renewal Development ProjectSwithin said
City of Saint Paul theretofore designated, by Housing and Redeve lop-
-� ment Authority of the City of Saint Pau�., Minnesota, as tYe Down:-,
: _ town, Cathedral, Riverview, Hollow� Hollow Expansion, and Selby
� Dale Pro�ects and for said City' s payment of any remaining
costs of Municipal Buildings and Improvements to be constructed
� within or ad acent to the
� project areas or any of the same in
° �'� Q accordance with said City' s obligations for such payments as the
,��� � s�ne shall be defined under and by the pertinent Cooperation
p Agreement, in respect to each such Pro�ect� by and between said
� City and said Housing and Redevelopment Authority� and for the
� purpose of said City' s pro�urement of the requisite funds for said
� paymertts� authorizes said City to issue and sell its general
� obligation bonds� in the aggregate par value amount thereby
limited to �i3,75ora�o; and the said i�et Pro�ect Cost being thereby"
, � defined a� the public development o�s�ts�f'� sub�ect Pro�ect less
its capital proceeds as those terms are defined by Minnesota
Sta�.��tes� Section 46� .545� and as the a.mounts thereof shall be
estimated by said City Co�u�.cil prior to the delivery of each
series of such bonds; and , .
COLTNCILI�N Adopted by the Couneil ` 19—
Yeas Nays
Dalglish
, , Holland Approve� 19—
� Loss Tn Favor
Meredith �
Peterson MAyoT
A g81II3t
Rosen ,
Mr. President, Vavoulis
ions e�s
;. !
' ������
_ <.
Page 2 .
' WH�R�AS.� The Cooperation Agreement applicable to said
Downtown Urban Renewal Project entitled� "Downtown Urban Renewal
Area Project� Minn. R-20" , has been made and executed by and
between s�iid Housing and' Redevelopment Authority of the City of
Saint Paul� Minnesota and said City of Saint Paul, pursuant to
said Authority' s pertiner�t Resolution Noi_..,64-5./27_-3.. and said
City Council' s Resolution, Council File No. 218609� a counterpar t
of said Cooperation Agreement being filed herewith and by reference
being incorporated herein a�.d made part and parcel hereof with
the same intent, purpose and 'effect as if said Cooperation Agree-
ment were set forth herein verbatim; and
WH�RE�S, said City Council� upon due investigation�
in the premises� and upon adequate, relevant and reliable factual
� bases has estimated and hereby estimates the Public Redevelopment
Cost of said Downtown Urban Renewal Area Project� Minn. R-20� in
the amount of �26 026,091.00, the Capital Proceeds of said Project�
in the amount of �5,717 884.00, and the net cost of said Project�
in the alnount of $20,30�,247.00; and
WHER�.AS upon the bases of reasonable cost estimates
_prepared by said �iuthority and made by said City Council, hereunder,
` �� it a ppears that the net Project Cost of said Downtown Urban
R
Renewal .Area Project, Minn. R-20 to be incurred by said '
� Authority constituting the difference between the gross cost of
said Pro�ect and the proceeds derived from the disposi ti on
of the land and other property sold by the authority, amounts to
�20,308,247.00 of which amount �5,077�062 .00 shall be .provided�
to said Authority� by said City of S aint Paul, in the form of
local grants-in-aid under said Cooperation Agreement; the said
amount being representative of substantially one-fourth of the
, aforesaid Net Project Cost; and
WHERE,AS� under and by the provisions� terms and condi-
tions of said Cooperation Agreement said City has become and is `�-
, obligated, on account of said local grants:�in-aid to make expendi- - �
tures and payments as and for non-cash grante-in-aid and cash
grants-in-aid to said Project, all as more particularly, appears
therefrom, on account of said Net Project Cost� aggregating
substantially one-fourth of the same or the amount of �5,077,OC�2 .00
and to make further expenditures and payments on accoun� of
_.
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Remaining costs of Mu�icipal Buildings and Imnrovements to be ,
� constructed t,:ithin or adjacent to said Project, in �he amount -
. - of �48,4�9.00 ; and ' ' " . ,
�rTh�R�AS� The aforesaid expenditures ar_d payments, ;
� ' to be made by said City as and ior non-c�sh and cash grants-in-
� aid to said Project, in respect of the afbresaia estima�ed I�Tet �
. Project Cos,t and on account oi said Re.��ainin� Costs of A4unicipal �
' Buildings an� Improvements toithir_ or adjacent to said Project � ;
• aggregate in tne amour_t of ��,125,521.00 and i� has become. �
necessary, to provide for the sale and issuance� by said City, of � ,
its general obligation bonds in the par value a�ount of �5,125,521.0�"' "
for its procurement of funds in saic� amount, as t'_�e �roceeds �
- of the issuance and sale of such }�oxlds for the meeting oi said
• City' s aforesaid obligations, for said expendiLUres and paymenLS • '� �
{ . ,under said Cooperation pgreement; now, therefore, be it
..� -
� � R�SOLVs��� By the Gour_cil of the Cit� of Sain� Paul,
that autnority hereby is granted thzrefor and said Cit,y of Saint ,
. Paul �hall, •.from tirae to time hereafter, issue and se11 the '
� general obligation bonds of said City in tne aogregate amount "
° • . . - of ?�5,125,�21.00, authorized by said Chapter 8$1, Session Laws
of Minnesota for 1963, necessary for said City' s procurement �
of funds in said amount of �5,125,521.00 for said City's payments
� on account of the net cost of said Do�mtown IIrban Renewal Area
` Pro ject, i�:inn. R-20, as estimated by th.is Council hereinabove�
.�- and for said City's eypenditures on account of any Remaining
. ' :Cos�s of h�unicipal•Buildings and Improvements to be constructed '
� within or �djacent to the area of said Project, as provided by
� - • said Cooperation Agreement therefox�, and in periormance of said
i City's obligations thereunder, for �the paymer_t of an amount of
i �5�077�062.00, representative of substantially on�-fourth of the
� net cost of said Project as so estimated and for the �urther pay- '
� ' . ment of the amounz of �48,459.00 for sai d City's exnennituxes �
- ' on account of any Remaining costs of Municipal Buildings and �
� Improvements to be constructed within or adjacent tb the area
' of said Project; all such to be done under and in accordance
� ' with the provisions, terms and conditions of said Cooperation �
' Agreement dated the 9th day of .�une� 1964, by and between said •
City and said Aza.thority a_nd under and in accordance ��rith the
;. provisions, terms. and conditions of said Chapter 881, Session -
Law f Minnesota fdr 1963, and by virtue of tne authority of •
� �.r�e �c$� . ; .. - . . : - -- . - . - .
� . � �- ' ; �� � - �.. , ,�. . :
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Page 4.
�
R�SOLVED FURTI�;R� that each issue of said bonds shall
be authorized by resolution of the Council a.nd 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 that
the first installment of each issue of said bonds shall matuz�e
not later than three (3) years from and after the date of the
same and the last installment of each is�sue of said bonds shall
mature not later than thirty (30) years from and af ter 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 af ter the date
of issue of the same; and that said bonds shall be issued and
sold by said City, in the �anner provided by law; that said
bonds shall be in the demomination of $1,000.00 or in such
multiples of �1�000.00 as the pertinent Resolution of the Council
shall providey, and shall bear interest not in excess of six
per cent (6%) per annum payhble semiannually according to interest
coupons to be attached to the same; that said bonds shall be in ,
the form prescribed by the Couneil of said City and approved A
. by its Corporation- Counsel; - and that said bonds-shall bear such
interest as said City Coun.cil shall prescribe��,, and shall be sold
by said City Council for not less tha�,.� par value plus accrued
� interest, to the highest b3dder therefor, after two weeks ' pub- _
----. lished 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 in a spe�ial fund of
said City designated as"Urban Renewal and Development Fund,"
and therein allocated thereto and subject to disbursement fox�
aforesaid obligations under said Cooperation Agreement,pertinent
to said Downtown Urban Renewal Area_Project, Minn. R-20� for -�he
payment of substantially one-fourth of the net cost of said Pro-
ject as estimated� as aforesaid, and for the further payment of
any Remaining cost of Municipal Buildings and Improvements to
be constructed within or adjacent to •the area of said Pro�ect.
That despite such allocation and restrictions upon disbursements
of the proceeds of the issuance and sale of said Bonds� hereunder�
the sa.me, nevertheless, shall be subject to adjustment in amount
and reallocation in purpose consistent with said Cooperation
Agreement as the samE;;may be amended� under and by auth�rity of
,,,� said �hapter 881, Session Laws of Minnesota for 1963; provided
that no part of the proceeds of the issuan.ce and sale of any
of said bonds shall be made the su�iject of any reallocation or
disbursement except for the purpose of the payment or defrayment
of said City' s obligations assumed, o� which shall be assumed�
under and by authority of said Act in respect of one or more of
the several Urban Renewal Development Pro�ects specified therein .
� `
.� ' ' �
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Page 5.
That said bonds shall be payable in lawful money of the United
States of Amer3.ca, at the Office of said City' s Commissioner c�'
Finance, in said City of Saint Paul� or at the office of the
Fiscal �lgent of said City in� either Saint Paul, Minnesota� or New York,
AIew 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 of both principal and interest of said bonds.
� R�SOL�D;FURTHER� that each of said bonds shall be sealed
by the facsimile of the� Offieial Seal of said City lithographed
thereon and signed by the lithographed facsimile signature of
its Mayor, attested by the lithographed facsimile signature of
its City Glerk, and countersigned manually by the City Comp-
troller, and each interest coupon thereto attached shall be
signed by the lithographed facsimile signatures of its said
Officers.
- R.�SO-LV�D FURTHER� tha�G said City' s proper officers
hereby are authorized, directed and required to set asidev annually� .
from the revenues of said City an amoun.t sufficient for the pay-
ment of the interest on said hereby authorized bonds and the
principal of any such bonds maturing in such year and hereby are
authorized, : directed and required to make a sia.fficient tax levy
for the payment of the same under and pursuant to the provisions
of Chapter 475, Minnesota Statutes i961 � as amended. That such
� tax levies for all years shall be specified and shall be such
that' if collected in full they� together with estimated collec-
tions of other revenues pledged for the payment of said obligations,
will produce at least five per cer�t (5�) in excess of �he amount
needed to meet� when due, the principal and interest payments '
on said bonds•. That each such tax levy shall be by resolution
of the Council of said City� which shall, among other things,
irrevocably appropriate the taxes thereby levied together with
estimated collections of other revenues pledged for the payment
of said City' s obligations� to the said City' s Sinking Fund or
said special Fund designated as aforesaid� "Urban Renewal and
Development Projects" � for the payment, when due, of the principal
and interest of said bonds. . That such provisions of this Resolution
,
�,, , .
�
� ' . • . _
^ ORIOINAL TO CITY CLERK �j����� '
� _ CITY OF ST. PAUL F�ENC�� NO
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION-GENERAL FORM
��ESENTED EY
COMMISSIONEQ
DA�
Page 6.
are in addition to the pledge of the full faith and credit of
said City for the paymeMt of said bonds and are not in lieu '
' of such pledge. That a fully executed counterpart of said Coopera-
tion Agreement is filed here�tith� in the office of the City
Clerk of said City, and incorporated herein by reference with
the same intent, purpose, and effect as if said Cooperation
Agreement was set forth herein verbatim.
, _ , �
,
.
�UN 11 �
COUNCILI�N Adopted by the Council 19—
Yeas Nays �611� 11 ���
Dalglish
Holland prove, 19—
- •Loss Tn FSVOT y
Meredith � . % "
Pete rs on MByOr
A gainst
Rosen
Mr. President, Vavoulis ,
lont e�s
_,,., ,.`
OUrLIGT[TO MtINTiR � .
' ' - � CITY OF ST. PAUL couNCU �� ��`��
OFFICE OF THE CITY CLERK F"` �
COUNCIL RESOLUTION--GENERAL FORM
►��r,r�o rr
COMMISSIONE� nAtF
WFiEREAS� Chapter 881� Session Laws of Minnesota
for �g63, according to its pertine�t provisions� terms and
conditions� beca.me operative upon its approval by ma�ority vote
of the City Council of the C�ty of Saint Paul, evidenced by sa3d
Council' s Resolution� Council Fi1e No. 213377, adopted and approved
the 18th day of June� 1963, and the Certificate of the City
Clerk of said City incorporating a certified copy of said'
Resolution� the Printer' s Affidavit of the Official Publication
of the sa.me and all other requisite data� filed with the Secretary
of State of the State of Minnesota� on the lst day of July 1963,
in accordance wi th the Statutes of the State of Minnesota �n
such cases �made and provided; and
WHEREAS� Said Chapter 881� Session Laws of Minnesota
for 1963, among other things, for the purpose of sa,id City' s
payment of not to exceed one-third of the Net Pro�ect Cost of
each of the several Urban Remewal Development Pro�ect within said
City of Saint Faul theretofore designated� by Housing and Redeve lop-
ment Authority of the City of Saint Pau�., Minnesotay as tY� Down-
town� Cathedral, Riverview� Hollow� Hollow Expansion� and Selby
Dale Pro�ects and for said City' s payment of any remaining
costs of Municipal Buildings and Improvements to be constructed
within or ad�acent to the pro�ect areas or any of the sa.me in
accordance with said City' s obligations for such payments as the
�-ame shall be defined under and by the pertinent Cooperation
Agreement� 3.n respect to each such Pro�ect� by and between said
City and said Housing and Rede�relopment Authority� and for the
purpose of said City' s pro�urement of the requisite funds for said
payments� authorizes said City to issue and se11 its generaZ
obl�gation bonds� in the aggregate par value amount thereby
limited to �13�750pQQ.0; and the said �et Pro�ect Cost bein.g thereby
defined as the publlc development aost��f'�ch sub�ect Pro�ect less
its capital proceeds as those terms are defined by Minnesota
Sta�u.�es, aection 46� .545� and as the amounts thereof shall be
estimated by said City Covncil prior to the delivery of each
series of such bonds; and
COUNCILMEN Adopted by the Counci� 19—
Yeas Nays
Dalglish
Holland Approv� 19—
Loss in Favor
Meredith
Petersoa MayOt
Rosen A S�St
Mr. President, Vavoulis
ioa[ s�s
, r
.. . .. � y��`.-7��.1��
Page 2.
WHEREAS� The Cooperation Agreement appl�.egble to said
Downtown Urban Renewsl Pro�ect entitled� "Uowr�to�rn Urban �enewal
,Area Pro�ec�� M�nn. R-20", has been made and �xecu�ed by arid
bet�reen s�id Hous3ng and Redevelopmen� Authority of the, Ci�y of
Sain� Paul� M3.nneso�a and said City of Sa.int Pau1� pursuant to
said Authority' s pertinent Resol.ution No. 6�+-5/27-3 and said
City Cot�ncil's Resolution� Counail File No. 218609� a counterpart
of said Cooperation Agreement be�.ng filed herewith and by reference
being incorporated herein and made part a.nd pareei hereof with
the sa.me intent� purpose and effect as if sa�.d Cooperation Agree-
ment we�e sst forth herein verbatim; a.r�d
WHER.�1�S� said City Council� upon due investigation�
3.n the premises� and upon adequate relevant and re].ia.ble factual ,
--�� bass,� fhas� es�i.mated and hereby est�ma�es the Public Redevelopment
Cost of said Uowntowri Urba.� �en.ewal Area Pro�ect� Minn. R-20s in
-�he amoun�t df �26 026,091.00� the Capitai Proceeds of sai.d Pro�ect�
in �he amount of �5 717 884.00� and �he net eost of said Pro�eet�
in �he �mount of �2��30��247.00; �and .
1�fHEREAS upon the bases of reasonable cost �stimates
prepared by said �uthor�ty and made by sa�.d City Council� hereunder�
i� a ppears that the net Pro�ect Cost of saLd Downtown IIrban
-Renewal Area �'ro�ec�, T�Iinn. R-20 to be incurr�d. by said
Aut�ority constituting the difference bet�reen the gross cost of
s�aid Pro�ect and the proceeds derived from the dispos�tl.on
of the land and other property sold by the authority9 amounts to
�20,308,247.00 of which amount �5�07']�062 .00 shall be provided�
to said Authority� by sa3d City of S ai.nt Pau19 in. the form of
local grants-in-�.d un.cler sa�.d Cooperation Agreement; the said
amount being representat3ve of substantially one-fourth of the
aforesaid Net Pro�ect Cost; and
WHEREAS� under and by the provisions� terms and condi-
tions of said Coapera�ion Agreoment saic� City ha.s become and is
obligated� on account of said local �ran.t�a-in-sid to make expend�.-
�ures and payments as and for non-cash grant�-in-sid and cash
grants-in-aid to said Pro�ect� all as more particularly� appears
thereirom� on account of sa�.d Net Pro�eet Cost� aggregating
substantially one-fourth of the same or the a.mount of �5�077�Of� ,00
and to make further expenditures and payments on accoun� of
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, Page 3. " :
Remaining costs of Municipal Buildings and Imnrovements to be ' . :
' constructed Urithin or adjacent to said Project, in the amount +
of ��+8,4�9.00 ; and ' • '
�t1k�R��S� The aforesaid e�penditures ar_ct pay�ients� i
to be made ny said City �s and for r_on-cash and cash grants-in- '- '
. aid to said Project, in respect of the aforesaid estir.:a�ed Net �
, Project Cos,t and on account oi said Remainino Costs of h�unicip�l �
' Buildings ar_d Improvements tioithin or adjac�nt to said Project
aggregate in t'r.e �.mour_t of �5,125,521.00 and i� has bzco?ne '
necessary to provide for the sale and issuance, by said City, of •.
� its general obl�gation bonds in the par value amount or �5,125��21•Od;
for its •procure�nent of funds in said a.,,�ota.nt, as t'ne proceeds
�• of the issu�.nce and sale of such bonds for the r�eetino of said
City' s aforesaid obligations� for said expenditures and payments
' under said Cooperation Agreement; now� therefore, be it
R�SOLV��, By the Council of the Cit� of Saint Paul,
that authority h�reby is granted therefor and said Cit,y of Saint ,
Paul �ha11,:.from �ime to time her,eaf ter, issue and sell the
� general obligation Qor_ds of said Ci�ty in the aggregate amount "
� of �5,125,j21.00, authoriz�d by said Chapter 8$l� Session Lazas ' ,
• of Minnesota for 1963, necessary for said City' s procurement �
of funds in said amount of �5,�25,521.00 for said City's payments
� on account oi the net cost of said DoUmto�Jn Urban Renet��al Area
'� ' Project, t•�inn. R-20, as estimated by this Council hereinabove, _ �
and for said City's er.penditures on accovnt of any Remaining
_ �� ' � Costs of I�iunicipal•Buildings and Improvements to be cor_structed
, ; within or adjacent to the area of said Projecty as provided by
� . : said Cooperation �greement therefox�, and in periormance of said
� City' s obligations thereunder� for the payment of an ariount of
_; � �5,077,062.00, representative of substantially one-fourth of the
� � net cost of said Project as so estimated and for �he further t�- •
' _ ment of the amount of �4-8,459.00 for said City' s e�penditures � . -
' , on accou.nt of any Re�naining costs of Municipal Builaings and '
• w ' Improvements to be constructed ��rithin or adjacent to the area . ,
; of said �rojeci;; all such to be done under and in accordance
� � . � with the provisions, terns and conditions of said Cooperation
� � Agreement dated the 9th day of June, 1g64, by ar_d bett,reen =said �
_ • , City and saia P_uthority and under and in acco�dance ��rith the "
' � provisions, terms and conditions of said Chapter 881, Session �
�- Law f Minr.esoLS for 1963, and by virtue of tne authority of •
� . • �h� �c�; - • , , , : - �- -
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' � �age �+ �� ����
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RESOLV�D FURTHER� that eaeh issue of' sa3d bonds sha11
be' au�horized by resolution of tbe Council a�d shall be 3n the
form �of serial bondg and �he sa.me �hall bear suah date �d mature
a� sueh tim�s as suQh resqlut3on shgll presc�ibe�� pravided that
the first inatQll.ment of eaQh issue of sa�.d bvnds sha11 mature
not la�er �Gh�n three (3) years frbm ar�►d after the date of the
same and th.e �.ast ins�allment of ea�� issu� of said bonds sha.11
mature no� later thar� �hirty (3b) .years f�om and after t,he da�e
v�' the same that no amoun� of princ�pal df eaah i�sus o� said
bonds payab�e in any calendar ysar sY�a11 exceed �2ve (5� times
�he amount of �he small�st amount vY principal m$tur3.ng in any
calendar��year ending thr�e f3} ye�.�s or more a�ter �he date
qf issue of the same; and that � said bonds shs�.l. be issued a.nd -
sold by said Citgs in the ffianner provided by �aw� that sa�d �
bonds shall be in the de�ominat�.on of $1,OOO.OE3 or in such '
mt�ltiples oF �1�000.00 as -�he pertinent Resolu�ion af the Council
shall provideyt and shall bear interest not �n excess of si�
per cent (6�) per annum pay�ble semiannually aeaording to �.nt�rest
coupons to be a�taehed to the same; th�t sa�d bonds shall be in
the form prescribed by the CounQi.]. of said Ci�y ar�d approved
by 3.ts Corpora�9:on Coun�el; and that sa�.d �onds shall be�r such
. , interest as �aid City Council shall p�eseribe�,i, and skall be sold
by said City Council for not l�ss th ax�� par value plu� aGCrued
interes�� to the highest bidder theTefor� af�er two weeks ' pub-
lished no�ice of �he time and place for �eQeitr3ng bi.ds thereon.
' That the proaeeds �z�om the issuanc� aA.d sala o£ said bonds� as
� rece3ved by, said Ci��r� shall be depo�i�ed in a s�ecial �und of
said City designa�ed as"Urban Renewal e.nd Developmemt Fund� t'
�nd therein allpaated �Che�eto and sub3ec� to disbu,rsement fe'r
8foresaid obligations under sa�d Cbvpera.�fon Agreement�pertinent
to said 1�owntown Urban �enewaY Area Pro�ee��. Min�. R 20� �or �he
payment of substant�ally one-fourth of the ne� cost of said Pro-
��et as estimatedf as aForesaidy and for �he fur��er payment of
any l�emain3.ng cost of� Munia3pal Buildings and Tmprovements to
be constr�cted witYa.in or ad�acen� to the area. of sa�.d Pro�ect.
fik�a� despite sueh a].location �n,d restrict3ons upan disbursemen�s
of the praeeads of �he igsizar�ce and sale of seid Bonds� hereunder�
the same� nevertk�e�.ess� sha11 �e sub�ect to ad3ustment in amount
and xealloea�ion in purpose co�$isten� with .said Cooperatian
Agreement as �he game may be amended� ander and by suth�rsity o� �
, said Chap�er 881 Session Laws of M3.nnesota For 1963; .provided
� that no part of �he proceeds of �the issuance and sale of �ny
of said bonds shall be made the sn'��eet of any reallocation or
d3.sbursemen� except for the purpos� af �he payment or d�fraymant �"
of said City' s obligations assumed� of� which shall be essumed� "
under and by authori�y of s��.d A�t ir� respect of on.e or more of
the several Urban Renewal Developmen� Pro�eats gpeeified �h�rsin.
� ...
r 1 � •
��`:��..1'�
Page 5.
Tk�at said bonds shall b� payable 3n lawful money a� t�ie IIni�ed
Sta�es of Amer�.ca� at �he Office of said City' s �ommissioner ae
k'inance luu said City of Saint Pa�Zy or at the of�'ice of the
Fis�al �gemt of sa�.d City 3:x�. either ua�.nt Paul� Minnesota� or New York,
�ew Yorki at �he option of the holder� and the �'ull fait�. and
credit of sai.d City hereby are ��rev0eably pledged foar the promp�
and ,�aithful payment of bo�h principal and interest of �aid bonds.
RESOLVEn�FtTRTHE�, that eaeh of said laonds shall be sealec�
by the �aesimile of the pfficial Seal o�£ said Gity 1,i.�hograph�d
thereon arid �igned by the li�hographed ,faa�imile �3.gnature of
ita Mayor� at�es�ed by the ltthog�aphed facsimil� signature oF
its Ci�y Clerk� and Countersi�ned manually by �Y�e C��y Comp-
�roller� and each interes� coupog tY�ere�Co att�c�ied shall be
signed by the lithograp�ed facs�mi.le sigmatures of its sa�.c�
O�Picers.
RESOLVED -F'i7RTHER� that said C�ty' s proper off�.cers
hereby are authorized� direete� and required �v set aside, an,nually,
from the revenues of said C�.ty e.n amount svffic�.ent for �he p�.�r�
men� of the in�erest on said hereby authorized bor�ds and the
pr3.ncipal of any sueh bonds matur3ng in auah year and hereby �re -
authorized��dfirected and r�quired to make a su�fic�.ent te� levy
for �h� payment of the same under and pursu�nt to th+a provisions
of Chapter 475� Minriesota Sta�utes �.�61 � as amended. That such
tax levies for a�l years shall be specif'�.ed and shall be suoh
that if collec�ed in full they� �ogether wi.th est�.mated �ollec-
�ions of other revenues pladged fos the pa�rment o� said obligations�
will produce at leaat f�.ve per aent (5�) in exaess o.f� �he emoun� -�,
needed to meet� when due, the principal and interest payments -
on said bonds. Th�t eaeh sueh ta.� lev� �hall b� by resolution
of the CouaG�,l of said City! whieh shalls amang other things,
irrevoQably approp�ciate the �axe� thereby l.evied toge�her with
estima�ed eolleetions o� ot�er revenuss pledged for �he payment
of said Ci�y' & obliga�ionst �o the said City s �ink�.ng Fund or
said special F�nd desi�n�ted �s aforesa�.d� "�rban Ren�waL and
Development Pro�eets"� far t�e paymer�t� wher�. due� of the prinaipal
arYd in�erest of said bonc�s. Tha� sueh proyisians of this gesolution
DUPLICAT!TO rRIN7lR ' ��_�Pr'1��
' ' " - ' CITY OF ST. PAUL couNCa � __� F
OFFICE OF THE CITY CLERK F�� NO
COUNCIL RESOLUTION—GENERAL FORM
IRESENTED{Y
COMMISSIONE■ DA�
- Page 6.
are in addition to the pledge of the full faith and eredit of
said City for the payment of said bonds and are not in lieu
c�f such pledge. Th.at a fu11y executed counterpart of said Coopera-
tion Agreement is filed here�tith9 in the office of the City
Clerk of said City� and incorporated herein by reference with
the same intent, purpose, and effect as if said Cooperation
Agreement was set forth herein verbatim.
JUN 11 '�9�
COUNCILA�N Adopted by the Council 19—
Yeas rrays � JUN 11196�
Dalglish �
Holland Approl►ed 19—
Loss Tn Favor
Meredith
Peterson MByOr
�8'aiIISt
Rosen
Mr. President, Vavoulis
ions e-�
�
', :
�,;.., . - � - ' � l �' � 3 . , . -s
o �^ "' � � , � �OUSI�:G AN�D �ED����O��}���T ����O�I�TY
� , ��«o� ,�
�',����oR y�q Of THE CITY Of SAIIdT PQUL
h , _
H . � � o �
h � ;� ; June 9, 1964 55 EAST FIFTH STREET
� /. SAINT PAUL 1, MINN.
� �'�r� `� � � RECEIVED �
'O '-'r��ut.0 p4�� CApital 7-7523
R
� V E � SAINT PAUL, Iv11NN.
In MAYOR'S OFFICE HAROLD J. MORIARTY
Chairman
B. WARNER SHIPPEE J U N 1 O �9"4 CARL CUMMINS, JR.
Ezecutive Direttor , A� P M
g' g PATRICK J. TOWLE
1I7'1i1�IllI�I ll�il�I4��IY JOHN W. GREENMAN
Honorable Mayor and City Council EUGENE R. LAMBERT
c/o City Clerk � .
City Hall and Court House
Saint Paul, Minnesota
Gentlemen:
As indicated in the Statement of Method of Financing the Downtown Urban
Renewal Area Minn. R-20 and the Riverview Industrial Project Minn. R-26, the local
share o� net project cost will be provided primaxily through bonds issued by the
City;,of'�Saint Paul pursuant to Chapter 881 as enacted by the 1963 Minnesota State
' Legislature. An appropriate resolution authorizing issuance of bouds for theae
projects is now before your Honorable Body together with resolutions covering
Cooperation Agreements between the City and the Authority concerning each project.
This letter explains the figures contained in the bond resolution and the Agreements.
Chapter 881 provides that the City may issue general obligation bonds in
aid of urban renewal in amounts "not to exceed one-third of the net project cost of
each of the urban renewal projects" designated by the Chapter "and for paying any
remaining costs of municipal buildings or improvements to be constructed within or
adjacent .to the project area".
Based on estimates prepared by the Authority (as contained in the Fihal
Project Report, Section R-226, Fo�m H-6200 now on file with the City Clerk) the
maximum amount of bonds which �ould be authorized for the Downtown Project computing
$6,769,416 as one third of the net project cost of the project and $48,459 in
remaining costs of improvements in the total amount of $6,817,875. For Riverview
the maximum amount of bonds which could be authorized computing one third of net
project cost at $1,744,408 with the remaining costs of improvements at $619,394 is
$2,363,802. ,
With concurrence of your Honorable Body, the Authority has elected to
finance the Downtown Project on a one fourth local and three fourths Federal formula
rather than the one third local - two thirds Federal formula. The one fourth -
three fourths formula results in a local share for powntown of $5,125,521 rather
than $6,769,416 under the one third - two thirds formula. The Riverview Project,
which is to be financed under the one third - two thirds formula will require
$2,363,802 as recited above. The bond resolution therefore, authorized issue of
$5,125,521 for powntown and $2,363,802 for Riverview. In the event both projects
are Federally approved a surplus currently esti.mated at $954,735 in non-cash grants-
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Page ��2 - June 9, 1964 .
' Honorable Mayor and City Council
,
in-aid from the Riverview project which, it appears, will be available as creditable �
against the local share of the Downtown Project. The Cooperation Agreemeats provide
that in the event of Federal approvals of both projects this surplus credit will be
applied to reduce the actual amount of bonds to be issued for the Downtown Project.
The bond resolution provides that authorization for specific bond iasues
will be by later resolution or resolutions by your Honorable Body as and when needed. '
Current estimates as reflected in the Cooperation Agreements (prepared with the able
assistance of the affected City Departments) and reflecting the surplus credit above
, referred to indicate the following schedule for actual issue of bonds: i
1964-65 \�, 1965-66 1966-67 1967-68 1968-69 �
Downtown $700,000 $1,000,000 $1,000,000 $1,000,000 $470,786 i
Riverview 0 1,000,000 1,000,000 363,802 0 �
Cumulative •
Tofal $700�000 $2�700�000 $4�700�000 $6,063,802 $6,534,588
With the three year delay in amortization of the bonds from date of issuance permitted .
under statute, •the issuance of the bonds in the year needed, and funds from the
currently levied redevelopment tax fund, the anticipated tax increment from reconstruct-
ion should be sufficient to handle or off-set debt service on these bonds without an
anticipated increase in the millage raCe of the Citq. .
The Authority reque'sts your favorable consideration of the bond and
Cooperation Agreement resolut�:ons.
� , Respectfully submitted,
R
B. Warner Shippee
CC: �Honorable George J, Vavoulis Executive Director ��
Mayor � �
Honorable James J. Dalglish �
Commissioner of Finance
Honorable Frank L. Loss
Cammissioner of Parks, Playgrounds and Public Buildings
Honorable Dean Meredith .
Commissioner of Public Safetq
Honorable Robert F. Peterson _
Commissioner of Libraries, Auditorium and Museums
Honorable Milton Rosen
Commissioner of Public Works �
Honorable Bernard T. Holland - : �
Cammissioner of Public Utilities
Honorable Joseph J. Mitchell
Comptroller
G-7
10/20/60
CERTIFICATE OF SECRETARY
Tha underaigned hereby certifiea, as follows:
(1) That he ie the duZy qualified aud acting Secretary of the
Housing and Redevelopment Authority of the City of Saint Paul, Minneaota,
here3n called the "Local Pub13.c Agency" and the keeper of the records of
ehe Local Public Agency;
(2) Th$t the attached Resolution No. 63-5/1-1
is a Crue aad correct copy of the Resolution Initiating certain urban
renewal redevelopment projects, etc.
as execuCad on the lst day of Mav , 19 63 ;
(3) The aeal affixed below consCitutes the offic,ial seal of the
_ Local Public Agency and Chia Certificate is hereby executed unde� such
official seal;
(4) That the undersigned 3.s duly auChorized to execute this
Certificate.
IN WITNESS WHEREOF, the uaders3gaed has hereunto set his hand
this 8th day of June � 19 64 .
� -
v
Secretary
( S E A L )
:`����' R E S 0 L U T I 0 N N 0. 63-5�1-1
RESOLUTION INITIATING CERTAIN URBAN
' REPIEWAL REDEVELOPIu�M' PRO,J�CTS AND
DIRECTING OONTINUATION OF PLANNING
OF CERTAIN URBAN RENEWAL REDEVELOP
Iu�NT PROJECTS HERETOFORE INITIATED
WHEREAS, the Housing and Redevelopment Authority of the City of Saint
Paul� Minnesota� has initiated as urban renewal redevelopment pro3ects the
Downtown Area� the Cathedral and the Riverview Pro,jects, (alternately desig-
nated as the Downtown Urban Renewal Area� the Cathedral General Neighborhood
Renewal Plan Area, and the Riverview General Neighborhood Renewal Plan Area),
pursuant to the provisions of the Municipal Housing and Redevelopment Act of
the State of Minnesota; and .
WHEREAS, it is necessary and desirable in accomplishing community rede-
velopment ob3ectivest to initiate and carry �out further redevelopment pro3ects
� in the Hollow Area, Hollow Expansion Area and Selby-Dale Area.
NOW THEREFORE, BE IT RESOLVED by the Housing and Redevelopment Authority
of the City of Saint Paul� Minnesota, as follows:
1. That the Hollow Pro�ect, Hollow Expansion Pro3ect and Selby-Dale
Project, all as hereinafter described, be and the same are desig-
nated and initiated as redevelopment projects under and pursuant
to the provisions of the Municipal Housing and Redevelopment Act
of the State of Minnesota, and the executive director is hereby
authorized and directed to proceed with the preparation of all
surveys, studies� and analyses of redevelopment and technical
and financial plans and arrangements necessary for the formula-
tion of a redevelopment plan, or general neighborhood renewal
plan, for each such project and to continue all surveys, studies
and analyses now in process necessary for the formulation of a
, ' . .
J • � _/]_
L
redevelopment plan or general neighborhood renewal plan for the
Downtown� the Cathedral and Riverview Pro,jects to be submitted to
the Planning Board and Council� of the City of Saint Paul, Minne-
sota� for consideration and approval in the manner provided by
law.
2* The designation and approximate boundary of each z�edevelopment
pro�ect referred to in this resolution are as followss
a) Downtown Pro.iect:
Beginning at the point of intersection of the center line of
East Seventh Street with the center line of Jackson Street,
then Southeasterly along said center line of Jackson Street
to the point of intersection with the center line of East
Fourth Street, then Northeasterly along said line to the
point of intersection with the Southwesterly right-of-way
line of Sibley Street, then Southeasterly along said line to
the point of intersection with the Northwesterly right-of-way
line of East Kellogg Boulevard, then Southwesterly along said
line to the point of intersection with the center line of
Minnesota Street, then Northwesterly along said line to the
point of intersection with the center line of East Fifth
Street, then Southwesterly along said line to the point of
intersection with the center line of Wabasha Street� then
Northwesterly along said line to the point of intersection
with the center line of East Sixth Street, then Northeasterly
along said line to the point of intersection with the center
line of Cedar Street, then Northv�esterly along said line to
the point of intersection with the center line of East Seventh
Street, then Northeasterly along said line to the point of
intersection with the center line of Jackson Street� which
is the point of beginning. �
. �.
� , b) Cathedral Pro.iects
Beginning at the point of intersection of the Northern right-
of-way line of Marshall Avenue with the Eastern right-of-way
line of North St. Albans Street, then Northerly along said
line of North St. Albans Street to the point of intersection
• with the Southern right-of-way line of Rondo Avenue, then
Easterly along said line of Rondo Avenue to the point of
intersection with a lot line which is 277 feet East of the
Eastern right-of-way line of Mackubin Street, then Southerly
along said lot line to the point of intersection with a lot
line which is 142.75 feet North of the Northern right-of-way
line of Carroll Avenue, then Easterly along said line to the
i ,
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° ' -3-
�
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point of intersection with the Eastern right-of-way line of
Arundel Street, then Northerly alang said line to Arundel
Street to the point of intersection with the Southern right-
of-way line of the alley between Rondo Avenue and Carroll
Avenue� then Easterly along said alley iine to the point of
intersection with a lot line 197.3�8 feet East of the
Eastern right-of-way line of Arundel Street� then Southerly
along said lot line to the point of intersection with the
Southern right-of-way line of Carroll Aven�e� then Easterly
along said line of Carroll Avenue to the point of intersec-
tion with the Western right-of-way line of Cathedral Place,
then Southerly along said line of Cathedral Place to the
point of intersection with the Northern right-of-way line
of Dayton Avenue, then Westerly along said line of Dayton
Avenue to the point of intersection with the Western right-
of-way line (extended) of the alley between Summit Avenue
and Farrington Street� then Southerly along said alley line
to the point of intersection with the Northern right-of-way
line of Selby Avenue, then Easterly along said line of Selby
Avenue to the point of intersection with the Western right-
of-way line of Maiden Lane� then Southwesterly along said
line of Maiden Lane to the point of intersection with the
Eastern right-of-way line of North Western Avenue� �hen Nor-
therly along said line of North Western Avenue to the point
of intersection with the Northern right-of-way line of Holly
Avenue extended, then Westerly along said line of Holly Avenue
to the point of intersection with the Eastern right-of-way
line of Arundel Street� then Northerly along said line of
Arundel Street to the point of intersection with the Northern
right-of-way line of Marshall Avenue� then Westerly along
said line of Marshall Avenue to the point of intersection
with the Eastern right-of-way line of North St. Albans Street
which is the point of beginning.
c) Riverview Proiect:
Beginning at the intersection of a point 800 feet Southwest
of the Western right-of-way line of Belle Street with the
property line of the Corps of Engineer's Flood Wall� then
Northeasterly along the line of the Flood Wall to Starkey
Street� then South to Fillmore Avenue� then East to South
Robert Street, then South to Wood Street, then Southeasterly
along the Southern line of the Chicago, Great Western Rail-
road tracks to Kansas Avenue� then South to Prescott Atreet�
then Northwest to Bancroft Avenue, then Northeast to the
alley between Concord Street and Prescott Street, then West
- to State Street, then Northeast to East George Street� then
� West to South Robert Street, then North to Winifred Street,
then West to Livingston Avenue� then North to East Congress
� Street� then West to the alley between Wabasha and Hall
Avenues, then North to Wabasha Street� then North�Nest to
Prospect Boulevard, then West to Ethel Street� then Northwest
to Ohio Street! then Southw�st to the Northern boundary of
Cherokee Heights Park� then Southwest 750 feet, then South
150 feet, then Southwest 225 feet, then North 400 feet to
the property line of the Corps of Engineer's Flood Wall.
v
� � .. " ..
1 ,
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� �
d) Hollo�v Proiect:
Beginning at the intersection of North Grotto Street and
University Avenue, then East along iJniversity to North
Western Avenue� then South to St. Anthony Avenue� then
West to North Grotto Street� then North to University
Avenue.
e) Hollow Expansion Proiect:
Beginning at the intersection of Lexington Parkway and
University Avenue, then East along University Avenue to
North Grotto Street� then South to Rondo Avenue, then East
to North St. Albans Street� then South to Selby Avenue, then
West to Lexington Parkway, then north to University Avenue.
f) Selbv-Dale_Proiect:
Beginning at the intersection of Lexington Parkway and Selby
Avenue, then East along Selby Avenue to North St. Albans
Street� then North to Marshall Avenue� then East to Arundel
• Street, then South to Holly Avenue� then West to North Vic-
toria Street, then South to Portland Avenue, then West to
Lexington Parkway, then North to Selby Avenue.
3. The Authority reserves the power� upon consideration of the plan
prepared for each project, to modify the character and extent there-
of in such way as may then be found to serve best the redevelopment
needs of the City of Saint Paul. However� the areas bounded as
described in Paragraph 2 shall be used by the executive director
as the basis for preliminary planning of each pro,ject.