07-04Council File # � — D
GreenSheet# 3l'�35690
RESOLUTION
�IJVT PAUL, MINNESOTA S
Presented by
RESOLUTION PROVIDING FOR TF� NEGOTIATED
SALE OF WATER REVENUE REFUNDING BONDS
BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota, as follows:
4 1. Findin¢; Purpose. It is hereby found, determined and declared that the City of Saint Paul,
5 Minnesota (the "City"), should issue Water Revenue Refunding Bonds (the "Bonds") to refund
6 outstanding bonds of its $7,000,000 Water Revenue Refunding Bonds, Series 1997C, and its
7 $8,035,000 Water Revenue Bonds, Series 2000C, to achieve substantial debt service savings.
8 2. Meetin¢. This City Council shall meet on or about January 24, 2007, for the purpose of
9 awarding the sale of the Bonds.
10 3. Nesotiated Sale; Parties. The City has retained Springsted Incorporated as an independent
11 financial advisor, and the City Council hereby determines to sell the Bonds by private negotiation.
12 Piper Jaffray & Co. shall be the underwriter, and shall be represented by Kennedy & Graven. Briggs
13 and Morgan shall be bond counsel.
14 4. Official Statement. The Treasurer and other officers ar employees of the City are hereby
15 authorized to participate with Piper Jaffray & Co. and Springsted Incorparated in the preparation of an
16 official statement for the Bonds.
17
Benanav
Bostrom
x�,s
Helgen
Thune
Adopted by Council: Date
✓
J
Adoption Certified by Co cil Secretary �/
By:
Approved by M : Date � � p �
By:
Requested by Department of.
G� /+ � - ' � .
fice o �`,�ca a SPrv.cP1
By: � Ifl
Form Approved City rney
By: �.
Form rove b ayo Subm' 'onto ouncil
By:
Form Approved by Financial Services
BY� _ E� ����`� V
��-o� f
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
FS ' — Pi�aucial Secvices
CoMact Person & Phone:
Todd Hurley
266-8837
anusc tse on
70-JAN-07
Doc.Type: RESOLUTION
EOOCUment Requi�ed: Y
Document Contatt: Todtl Hurley
Contact Phone: 266-8837
27-DEC-06
y
Assign
Number
Por
Routing
Order -
Total # of Signature Pages _(Clip Ail Locations for Signature)
Green Sheet NO: 3035690
0 dal Servica
1 inaocialServ�ces De arhnentDirector -
2 Attorne `v'`((�,
3 a or•s Office Ma odASSisfant
4 uucl
5 ' Qerk ' Cleck
Preliminary approval to provide for the negofiated sale of Water Revenue Refunding Bonds.
iaanons: N.pprove (H) or H
Planning Commission
CIB Comminee
Civil Service Commission
7. Has this persoNfirm ever worked untler a contract for this department?
Yes No
2. Has this person/firm ever been a city employee?
Yes No
3. Does this person/firm possess a skill not normally possessed by any
current city employee?
Yes No
Explain all yes answers on separate sheet and attach to green sheet
Initiating Probiem, Issues, Opportunity (Who, What, When, Where, Why):
Ciry of Saint Paul should issue Water Revenue Bonds to refund outstanding bonds, Series 1997C and 2000C to achieve substantial
deb[ service savings.
AdvantageslfApproved:
The ciry will be able to proceed wi[h the sale of these Water Revenue Refunding Bonds.
Disadvantages If Approvetl:
None.
Disadvantages If Not Approved:
Tlxe city will not be able to proceed wi[h the sale of these Water Revenue Refunding Bonds.
s '
� .
L��C 2 � 2006
Transaction:
Funtling Source:
Financial lnformation:
(Explain)
CosURevenue Budgeted:
Activiry Number.
� �°� °���� ������
��YiC� �:'w�'�L �f�e`v.�
� �[l
December 27, 2006 9:46 AM Page 1