219595r
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ORIGINAL TO CITY CLERK
'PUBLISHED
CITY OF ST. P
OFFICE OF THE CIl
.until File No. 219595 —By James J.•
Dalglish-
Resolved, By the Council of the City
Saint Paul, that, it satisfactorily ap-
!ars from the pertinent report of the
•mmissioner of Finance and said
xvncil rinds that the cash in -, idd
_ sury 1c , will ,�_,• ,;. le-
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(KESOLVED, by the Council of, -the City of Saint Paul,
t 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 obligations for the current calendar year to the
extent of Six Million 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 obliga-
tions for the current calendar year represent an amount in excess
of Six Million 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 219 of said City's
Home Rule Charter, to borrow the sum of Six Million Dollars and
to execute and deliver the notes of said City therefor in the
aggregate principal sum of Six Million Dollars, payable within
the current calendar year and within not to exceed ninety days
from the date of the same, with interest on said principal
sum at a rate not to exceed 4% per annum, and to pledge
the share of said City in the aforesaid uncollected 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 sum borrowed, Six Million Dollars, shall be
deposited in the City Treasury to supply said cash deficiency
Qtherein " -.in respect of the funds available for the meeting of
said Cit -yts obligations during the current calendar year, such
�•o cash deficiency being, as aforesaid, in the principal amount
=�e of Six Million Dollars, and that, to the extent of any such
{� borrowing hereunder, on behalf of said City, for said purpose,
iw said Citys share of such uncollected real estate and personal
property tax levies for the current year, shall be hereby deemed
° pledged to secure the repayment of the sum or sums borrowed
as evidenced by said City's note or notes, both principal and
interest, which shall be executed and delivered hereunder, said
City's share of such uncollected tax levies for the current year
COUNCILMEN
Yeas Nays
Dalglish
Holland
Loss
Meredith
Peterson
Rosen
Mr. President, Vavoulis
loot 6-0
Tn Favor
Against
Adopted by the Council 19—
Approved 19—
Mayor
f
ORIGINAL TO CITY CLERK � � ,
CITY OF ST. PAUL COUNCIL. 93)
OFFICE OF THE CITY CLERK FILE NO
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
Page 2.
representing an amount in excess of Six Million Dollars plus
interest thereon at not to exceed 4% per annum which might accrue
on any such authorized notes.
COUNCILMEN
Yeas Nays
Dalglish
-Huffand
L
Loss
In Favor
Meredith
�
Peterson
Against
Rosen
Mr. President, Vavoulis
IOU E-ds
AUG 121
Adopted by the Council 19—
AUG 12 1964
v
Mayor
DllLICATIC TO MINT[R y "
CITY OF ST. PAUL COUNCIL'
" OFFICE OF THE CITY CLERK FILE NO.
COUNCIL RESOLUTION- - GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
RESOLVED, by the Council of.. the City cf 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 obligations for the current calendar year to the
extent of Six Million 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 obliga-
tions for the current calendar year represent an amount in excess
of Six Million 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 219 of said Cit y' s
Home Rule Charter, to borrow the sum of Six Million Dollars and
to execute and deliver the notes of said City therefor in the
aggregate principal sum of Six Million Dollars, payable within
the current calendar year and within not to exceed ninety days
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 uncollected 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 sum borrowed, Six Million Dollars, shall be
deposited in the City Treasury to supply said cash deficiency
therein :in respect of the funds available for the meeting of
said City's obligations during the current calendar year, such
cash deficiency being, as aforesaid, in the principal amount
of Six Million 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 personal
property tax levies for the current year, shall be hereby deemed
pledged to secure the repayment of the sum or sums borrowed
as evidenced by said City's note or notes, both principal and
interest, which shall be executed and delivered hereunder, said
City's share of such uncollected tax levies for the current year
COUNCILMEN
Yeas Nays
Dalglish
Holland
Loss
Meredith
Peterson
Rosen
Mr. President, Vavoulis
6.82
In Favor
Against
Adopted by the Council 19—
Approval 19—
Mayor
ny/LICAT[ TO PRINTtR
CITY OF ST. PAUL
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
Page 2.
COUNCIL N�
FILE
representing an amount in excess of Six Million Dollars plus
interest thereon at not to exceed 4% per annum which might accrue
on any such authorized notes.
COUNCILMEN
Yeas
Nays
Dalglish
Loses
Meredith
Peterson
Rosen
Mr. President, Vavoulis
AUG 12 1'
Adopted by the Council 19—
AUG 12 19
Approval 19—
Tn Favor
Mayor
C/
--Against