213377ORIGINAL TO CITY CLERK � � , t��
CITY OF ST. PAUL FILENCIi NO.� 3
QFfICE OF THE CITY CLERK
COUN I RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
RESOLVED, by the Council of the City of Saint Paul, that
Chapter g$I, Laws of Minnesota for 1963, approved on the 27th
day of May, 1963, entitled
"AN ACT RELATING TO THE CITY OF SAINT PAUL; PROVIDING
FOR AND AUTHORIZING SAID CITY TO ISSUE ITS GENERAL
OBLIGATION BONDS FOR URBAN RENEWAL REDEVELOPMENT
PURPOSES AND PROVIDING FOR PLEDGING OF PROCEEDS CF
TAX LEVIES TOWARD PAYMENT OF ANY BONDS ISSUED TO
DEFRAY THE COST THEREOF."
a certified copy of which is filed herewith, -shall be and said
Act hereby is in all things approved;
RESOLVED FURTHER, that the City Clerk, as the chief clerical
officer of said City of Saint Paul, shall forthwith file with
the Secretary of State a certificate in form prescribed by the
Attorney General stating the essential facts necessary to said
approval of said Act hereunder and including a copy of this
resolution of approval of said Act.
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COUNCILMEN
Yeas Nays
Dalglish
Holland
Loss
Mortinson
Peterson
' Rosen
Mr. President, Vavoulis
Council File' No. 213377 —By Milton
Rosen —
Resolved, By the Council of the City
of Saint Paul, that Chapter 881, Laws
of Minnesota for 1963, approved on the
27th day of May, 1963 „entitled
"AN ACT RELATING TO THE ti y
CITY OF SAINT PAUL; PROVIDING
FOR AND AUTHORIZING SAID
CITY TO ISSUE ITS GENERAL, OB-
LIGATION BONDS FOR URBAN
RENEWAL REDEVELOPMENT PUR-
POSES A N D PROVIDING FOR t
w PLEDGING OF PROCEEDS OF TAX -
LEVIES TOWARD PAYMENT OF
ANY BONDS ISSUED TO DEFRAY
THE COST THEREOF.”
a certified copy of which is filed here-
with, shall be and the said Act hereby
is in all things approved;
Resolved Further, That' the City
Clerk, as the chief clerical officer of
said City of Saint Paul, shall forth-
with file with the Secretary of State a
certificate in form prescribed by the
Attorney General stating the essential
facts necessary to said approval of said
Act hereunder and including a copy of yUp�
'i
this resolution of approval of said Act. JUN l
Adopted by the Council June 18, 1963.
Approved June 18, 1963.
(June 22, 1963) Adopted by the Council 19—
Ir
,SUN 18 1963
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IOM 6-62
DUPLICATE TO PRINTER
y CITY OF ST. PAUL COUNCIL NO.
OFFICE OF THE CITY CLERK FILE
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
RESOLVED by the Council of the City of Saint Pauly that
Chapter 881, Laws of Minnesota for 1963, approved on the 27th
day of May, 1963, entitled
"AN ACT RELATING TO THE CITY OF SAINT PAUL; PROVIDING
FOR AND AUTHORIZING SAID CITY TO ISSUE ITS GENERAL
OBLIGATION BONDS FOR URBAN RENEWAL REDEVELOPMENT
PURPOSES AND PROVIDING FOR PLEDGING OF PROCEEDS (F
TAX LEVIES TOWARD PAYMENT OF ANY BONDS ISSUED TO
DEFRAY THE COST THEREOF."
a certified copy of which is filed herewith, shall be and said
Act hereby is in all things approved;
RESOLVED FURTHER, that the City Clerk, as the chief clerical
officer of said City of Saint Paul shall forthwith file with
the Secretary of State a certificate in form prescribed by the
Attorney General stating the essential, facts necessary to said
approval of said Act hereunder and including a copy of this
resolution of approval of said Act.
COUNCILMEN
Yeas Nays
Dalglish
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10M 0-82
I In Favor
Against
JUN 18 1963
Adopted by the Council 19—
JUN It
Approved 19—
Mayor
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M I NNE
e
�71
H.F. No. 1620
AN ACT T CHAPTERR No.
RELATING TO THE CITY OF SAINT PAUL;
PROVIDING FOR AND AUTHORIZING SAID CITY
TO ISSUE ITS GENERAL OBLIGATION BONDS FOR
URBAN RENEWAL REDEVELOPMENT PURPOSES AND
PROVIDING FOR PLEDGING OF PROCEEDS OF TAX
LEVIES TOWARD PAY14ENT OF ANY BONDS ISSUED
TO DEFRAY THE COST THEREOF.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. The city of Saint Paul may issue its
general obligation bonds for the purpose of and in the
amounts necessary for paying not to exceed one third of
the net project cost of each of the urban renewal development
projects heretofore designated by the housing and
redevelopment authority of the city of Saint Paul as the
Downtown, Cathedral, Riverview, Hollow, Hollow Expansion,
and Selby Dale projects, and for paying any remaining costs
of municipal buildings and improvements to be constructed
within or adjacent to the project areas. The net project
cost referred to in this act is the public redevelopment
cost of the project less its capital proceeds, as those
terms are defined in Minnesota Statutes, Section 462.545,
and as the amounts thereof are estimated by the city council
prior to the delivery of each series of bonds. The total
amount of bonds authorized herein shall be limited to
$13,750,000.
Sec. 2. Such bonds may be authorized, issued, and sold
by resolution or resolutions of the city council in accordance
with the provisions of Minnesota Statutes, Sections 475.54 to
475.56, 475.60 to 475.72, and 475.74, notwithstanding any
other provision of law or of the city charter or ordinances.
The amount thereof shall be excluded from the net debt of
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H.F. \o. •.1620
the city as defined in Minnesota Statutes, Section 475.51,
Subdivision I.
Sec. 3. The city commissioner of.finance, together
with the sinking fund committee, as provided by section 220
of the charter of the city of Saint Paul, shall maintain a
common sinking fund, in accordance with Minnesota Statutes,
Section 475.66, for the payment of principal and interest
on all urban renewal bonds issued pursuant to this act, and
no others. When such bonds have been issued; the city
council may each year in its discretion direct the county
treasurer to set aside and pay over to the commissioner of
finance for credit to this sinking fund, instead of
crediting to the special benefit tax fund described in
Minnesota Statutes, Section 462,545, Subdivision 52 all or
part of the tax revenue derived in the following year from
real estate and permanent structures and improvements
thereon, situated within any project area (whether or not
financed by such bonds), in excess of the tax revenue
derived therefrom in the year immediately preceding that in
which the acquisition of such property by the housing and
redevelopment authority of the city of Saint Paul first
commenced; provided that the total amount so directed to
be set aside shall not exceed the sum of all taxes levied
and appropriated by the city council to the sinking fund,
which are to be collected in such year.
Sec. 4. This act shall become effective only after
its approval by a majority of the city council of the city
of Saint Paul and upon compliance with the provisions of
Minnesota Statutes, Section 645.021.
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TIP
s. V.
l
H.F. No. 1620
Speaker of the Mseof res tative
/ 1
President of the Senate.
Passed the House of Representatives this 29th day of
April in the year of Our Lord one thousand nine hundred
and sixty- three.
C
c
Chief Clerk, House of Represe tives.
Passed the Senate this 22nd day of May in the year of
Our Lord one thousand nine hundred and sixty- three.
/ecrethe S ena(te.
Approved ,f 1 7 1963
v_ �
Governor of tbe•State of Minneso a.
Filed G. -?'91963
S cretary of the State of Minnesota.
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