Loading...
213459ORIGINAL TO CITY CLERK f A. PRESENTED BY COMMISSION CITY OF ST. PAUL OFFICE OF THE CITY CLERK ),UNQL MOLUTION- GENERAL FORM 13459' FILENCIL NO. PUBLISHED RESOLVED, by the Council of the City of Saint Paul, that this Council does hereby concur in each and all of the terms and provisions of Resolution No. 227 adopted by the Port Authority of the City of Saint Paul, dated June 18, 1963 entitled, "Resolution Awarding Sale of $2,500,000 General Improvement Bonds, Series D,;Fixing the Interest Rates and Other Terms Thereof, and Levying and Appropriating Taxes for the Payment of Principal and Interest Thereon ", a copy of which has been certified to the Council by the Secretary of the Port Authority and is now on file in the office of the City Clerk and, by reference, incorporated herein and made part and parcel hereof, and the Council specifically, but without limitation, concurs in the award of sale of bonds, interest rates, date, denominations, place of payment, form and details of the Port Authority's General Improvement Bonds, Series D, in the amount of $2,500,000 dated June 1, 1963, as specified in said resolution, and in the years and amount specified for the taxes levied for the payment of said bonds, and does hereby find, determine and declare that all such provisions are in accordance with Ordinance No. 12287 of the`-, City of Saint Paul, adopted September 27, 1962, and are hereby approved, ratified and confirmed. COUNCILMEN Yeas Nays Dalghsh Holland Loss Mortinson Rosen Mr. President, Vavoulis 10M 8-82 Council File No. 213459 —By Bernard T. Rolland— ' Resolved, By the Council of the City of Saint Paul, that this Council does S' hereby concur in each and all of the terms and provisions of Resolution No. adopted by the Port Authority of • City of Saint Paul, dated June 18, t .< entitled, "Resolution Awarding j[! of $2,500,000 General.Improvement '= Series D, Fixing the Interest and Other Terms Thereof, and . -ng and Appropriating Tm for t Payment. of Principal ar.,i) ,4 ,erest •eon' , a copy of whl• , ° K been a3ed to the Cc gar' .— ' 1 �1 is —re_ r' of the PQ 014 5r i irarl }o`3 file in {` • ' f to by, J2j^za ' -nor MIA Fear ds tiV�' r tiasrr m Adopted by the Council ► 1?9!9— JUN I 19- pproved Ir Mayor DUPLICATE TO PRINTER- PRESENTED BY COMMISSION 213459 CITY OF ST. PAUL COUNCIL NO OFFICE OF THE CITY CLERK FILE COUNCIL RESOLUTION — GENERAL FORM RESOLVED, by the Council of the City of Saint Paul, that this Council does hereby concur in each and all of the terms and provisions of Resolution No. 227 adopted by the Port Authority of the City of Saint Paul, dated June 18, 1963 entitled, "Resolution Awarding Sale of $2,500,000 General Improvement Bonds, Series D9,Fixing the Interest Rates and Other Terms Thereof, and Levying and Appropriating Taxes for the Payment of Principal and Interest Thereon ", a copy of which has been certified to the Council by the Secretary of the Port Authority and is now on file in the office of the City Clerk and, by reference, incorporated herein and made part and parcel hereof, and the Council specifically, but without limitation, concurs in the award of sale of bonds, interest rates, date, denominations, place of payment, form and details of the Port Authority's General Improvement Bonds, Series D, in the amount of $2,500,000 dated June 1, 1963 as specified in said resolution, and in the years and amount specified for the taxes levied for the payment of said bonds, and does hereby find, determine and declare that all such provisions are in accordance with Ordinance No. 12287 of the City of Saint Paul, adopted September 27, 1962, and are hereby approvedq ratified and confirmed. COUNCILMEN Yeas Nays Dalglish Holland Loss Mortinson �etersen� Rosen Mr. President, Vavoulis 10➢4 6-62 Tn Favor y A gainst ,JUN 19 1° Adopted by the Council 19— Approved 19._ Mayor I Y rY OF THE CITY OF ST. PAUL /MINNESOTA BUILDING, 4TH AND CEDAR, ST. PAUL 1, MINN./224.5686 June 18, 1963 Mrs. Agnes H. O'Connell City Clerk City of Saint Paul City Hall and Court House Saint Paul 25 Minnesota Dear Mrs O'Connell: There is attached hereto a certified copy of an extract of the minutes of the regular meeting of the Port Authority of the City of Saint Paul held June 18, 1963 together with a certified copy of Resolution No. 227 adopted at that meeting. It is requested that you kindly place these documents on file and of record in your office. Very truly yours, 00' oe 1� . W. Fi zpatrick Consultant F PWF : j g Encl. F� �i 1 e. kr Pf CL tI FRANK D. MARZITELLI FRANK E. CLAWSON DALE D. BRADDOCK [4 EXECUTIVE VICE PRESIDENT DIRECTOR, INDUSTRIAL DEVELOPMENT CHIEF ENGINEER COMMISSIONERS PHILIP H. NASON RICHARD C. RADMAN FRED W. FISHER NEIL H. GRIEBENOW H. WILLIAM BLAKE BERNARD T. HOLLAND ROBERT F. PETERSON PRESIDENT VICE PRESIDENT SECRETARY TREASURER Fi LEGISLATIVE ADVISORS NICHOLAS D. COLEMAN, STATE SENATOR D. D. WOZNIAK. STATE REPRESENTATIVE z• - i Extract of Minutes of Regular Meeting Port Authority of the City of Saint Paul Saint Paul, Minnesota June 18, 1963 Pursuant to due call and notice thereof, a regular meeting of the Port Authority of the City of Saint Paul was held at its offices at 1130 Minnesota Build- ing, 46 East Fourth Street, Saint Paul 1, Minnesota, on Tuesday, June 18, 1963, at "' 2:00 o'clock P.M. The following Commissioners were present: acrd c. Raftdtis vim Preoldents 0. %W4. 0 91*8* Vtod W. Asher, Apbort r. Peters=* Bernard. 44, 00UMd and the following were absent: The Assistant Treasurer of the Port Authority, in the absence of the Treasurer, presented affidavits showing publication of the official advertisement of notice of sale of $22500,000 General Improvement Bonds, Series D, as directed at the Port Authority's meeting May 23, 1963, which affidavits were examined and found satisfactory and directed to be placed on file in the office of the Secretary. The Assistant Treasurer reported that 3.$ sealed bids had been received in accordance with the official advertisement up to 12:00 noon this date, and were then opened and tabulated, and he presented the bids so received and his tabulation thereof. After examination and consideration of the bids received by the Port Authority, Commissioner 403jand tion and moved its adoption: introduced the following proposed resolu- RESOLUTION AWARDING SALE OF $2,500,000 GENERAL IMPROVEMENT BONDS, SERIES D, FIXING THE INTEREST RATES AND OTHER TERMS THEREOF, AND LEVYING AND APPROPRIATING TAXES FOR THE PAYMENT OF PRINCIPAL AND INTEREST THEREON 51! The motion for the adoption of the resolution, which was given the No. 227 , was duly-seconded by Commissioner Peterson , and upon vote being taken thereon, the following voted in favor thereof: A11 in favor and the following voted against the same: None. whereupon said Resolution No. 227 was declared duly passed and adopted. STATE OF MINNESOTA) ss. COUNTY OF RAMSEY ) I, the undersigned, being the duly qualified and acting Secretary of the Port Authority of the City of Saint Paul, hereby certify that the attached and fore- going is a full, true and correct transcript of the minutes of a meeting of said Port Authority duly called and held on June 18, 1963, so far as such minutes relate to $2,500,000 General Improvement Bonds, Series D of said Authority; and that also attached hereto are a full, true and correct copy of the resolution and a full, true and correct copy of the tabulation of the bids received for said bonds, as indicated in said minutes. WITNESS my hand and the seal of the Port Authority this 18th day of June, 1963. (SEAL) r T -2- Secretary o, Pr �1 a r / The motion for the adoption of the resolution, which was given the No. 227 , was duly-seconded by Commissioner Peterson , and upon vote being taken thereon, the following voted in favor thereof: A11 in favor and the following voted against the same: None. whereupon said Resolution No. 227 was declared duly passed and adopted. STATE OF MINNESOTA) ss. COUNTY OF RAMSEY ) I, the undersigned, being the duly qualified and acting Secretary of the Port Authority of the City of Saint Paul, hereby certify that the attached and fore- going is a full, true and correct transcript of the minutes of a meeting of said Port Authority duly called and held on June 18, 1963, so far as such minutes relate to $2,500,000 General Improvement Bonds, Series D of said Authority; and that also attached hereto are a full, true and correct copy of the resolution and a full, true and correct copy of the tabulation of the bids received for said bonds, as indicated in said minutes. WITNESS my hand and the seal of the Port Authority this 18th day of June, 1963. (SEAL) r T -2- Secretary o, Pr �1 Resolution No. 227 June 18, 1963 RESOLUTION AWARDING SALE OF $2,500,000 GENERAL IMPROVE ENT BONDS, SERIES D. FIXING THE INTEREST RATES AND OTHER TERNS THEME, AND LEWING AND APPROPRIATING TAXES FOR THE PAYMENT OF PRINCEPAh AND INTEREST THE MN BE IT RESOLVED BY THE FORT AID` MORITY OF THE CITY OF SAINT PAUL. to Wider and pursuant to Resolution No. 186 adopted by the fort Authority on September 5, 1962, and Ordinance No. 12287 of the City of Saint Paul adopted by the City Council on September 27, 1962, and the pertinent provisions of MJnnesota Statutes, as amended, including Section 458.193 and Chapter L�75, the Port Authority has provided for public sale of $2,500,000 General Improvement Bonds, Series D, and has caused notice of the time and the place for the receiving of the bids to be pub- lished not less than two weeks before the mate of receiving bids, and has considered all bids received pursuant to the published notice, and does hereby find and deter-, mine that the highest and best of such bids is that of The Northern Trust Company , of Chicago, Illinois , and associates named therein, to purchase the bonds at a price of par plus accrued interest to the date of delivery thereof, plus a premium of $.,931 , and bearing interest at the respective rates stated below, and subject to the further terms and conditions stated in this resolution and in said Ordinance No. 12287. The sale of the bonds is hereby awarded to said bidder, provided that the Secretary shall forthwith pre- sent this resolution to the City Council of the City of Saint Paul, for approval of the raining provisions of the bonds herein stated which require such approval under law, other than those established by said ordinance, and after such approval the President and Secretary shall make and execute on the part of the Fort Authority a contract for the sale of the bonds upon these terms. The good faith check furnished by the successful bidder shall be retained by the Treasurer of the Font Authority until the bonds have been delivered and payment has been made in full, and the Treasurer shall return the checks of other bidders forthwith. 2. Said General Improvement Bonds, Series D shall now be issued and delivered in the aggregate principal amount of $2,500,000 and in the denomination of $ 59000 each, payable to bearer, shall be 500 in number and numbered from 1 to 500 inclusive, shall be dated as of June 1, 1963, and shall mature serially, lowest numbers first, on June 1 in the years and amounts as follows, bearing interest at the respective annual rates stated opposite their maturity years and amounts: -1- The bonds maturing in the years 1984 through 1993 shall each be subject to redemp- tion and prepayment, at the option of the Port Authority, on June 1, 1983, and on any interest payment date thereafter, at a price of par and accrued interest and in inverse order of their serial numbers. Not less than 30 days prior to the date specified for the redemption of said bonds, the Treasurer will mail notice of the call thereof to the holder, if known, and to the bank at which principal and interest are then payable. Said Treasurer shall maintain a record of the serial numbers of prepayable bonds and the names and addresses of the holders thereof, so far as such information is made available to him for the purpose of mailing such notices. The interest on the bonds diall be payable December 1, 1963, and semiannually thereafter on June 1 and December 1 in each year, and both principal and interest shall be payable at in , and the Port AuthouLty hereby agrees to pay the reasonable and customary charges of the paying agent for the receipt and disbursement of the principal and interest, 3. The bonds shall be prepared for execution under the direction of the Secretary, in substantially the form set forth in Ordinance No. 12287, and when so prepared shall be executed by the lithographed facsimile signature of the President of the Port Authority, countersigned by the manual signature of the Treasurer, at- tested by the lithographed facsimile signature of the Secretary, and sealed with a lithographed facsimile of the official seal of the Port Authority, and each of the interest coupons annexed to the bonds shall be executed and authenticated by the lithographed facsimile signatures of the President and Secretary, and a true and correct copy of -the opinion rendered by bond counsel as to the validity of the issue to be rendered at the time of delivery thereof, shall be printed on the reverse side of each bond. When the bonds and coupons have been so prepared and executed, they shall be delivered by the Treasurer of the Port Authority to -the purchaser, upon payment of the purchase price above stated, and the purchaser shall not be obligated to see to the application of the purchase price. However, the proceeds of the bonds shall be segregated by the Treasurer in a separate and special fund of the Port -2- ,-Year ` Amount Rate Year Amount Rate 1966 $50,000 1980 $ 909000 1967 60,000 1981 90,000 1968 601,000 1982 90,000 1969 60,000 1983 100,000 1970 60,000 1984 100,000 1971 60,000 1985 1009000 1972 70,000 1986 110,000 1973 70,000 1987 110,000 1974 70,000 1988 120,000 1975 70,000 1989 1200000 1976 80,000 1990 120,000 1977 80,000 1991 130,000 1978 80,000 1992 130,000 1979 80,000 1993 140,000 The bonds maturing in the years 1984 through 1993 shall each be subject to redemp- tion and prepayment, at the option of the Port Authority, on June 1, 1983, and on any interest payment date thereafter, at a price of par and accrued interest and in inverse order of their serial numbers. Not less than 30 days prior to the date specified for the redemption of said bonds, the Treasurer will mail notice of the call thereof to the holder, if known, and to the bank at which principal and interest are then payable. Said Treasurer shall maintain a record of the serial numbers of prepayable bonds and the names and addresses of the holders thereof, so far as such information is made available to him for the purpose of mailing such notices. The interest on the bonds diall be payable December 1, 1963, and semiannually thereafter on June 1 and December 1 in each year, and both principal and interest shall be payable at in , and the Port AuthouLty hereby agrees to pay the reasonable and customary charges of the paying agent for the receipt and disbursement of the principal and interest, 3. The bonds shall be prepared for execution under the direction of the Secretary, in substantially the form set forth in Ordinance No. 12287, and when so prepared shall be executed by the lithographed facsimile signature of the President of the Port Authority, countersigned by the manual signature of the Treasurer, at- tested by the lithographed facsimile signature of the Secretary, and sealed with a lithographed facsimile of the official seal of the Port Authority, and each of the interest coupons annexed to the bonds shall be executed and authenticated by the lithographed facsimile signatures of the President and Secretary, and a true and correct copy of -the opinion rendered by bond counsel as to the validity of the issue to be rendered at the time of delivery thereof, shall be printed on the reverse side of each bond. When the bonds and coupons have been so prepared and executed, they shall be delivered by the Treasurer of the Port Authority to -the purchaser, upon payment of the purchase price above stated, and the purchaser shall not be obligated to see to the application of the purchase price. However, the proceeds of the bonds shall be segregated by the Treasurer in a separate and special fund of the Port -2- A°a• :ority, and shall be used solely for the purpose for which the bonds uere authorized as stated in Ordinance No. 122870 4o In accordance with said ordinance and lams, there is hereby .levi&. for each year, until the principal and interest of the bonds are paid, in full, a d1reat, annual, ad valorem tax on all the taxable property in the City of -Saint Rw.3.1 , aunt less than five per cent In excess of the sums required to pay ti:r .,rinaiDal and interest thereof when and as such principal and interest ma;.ure. 3umit tax shall be extended upon the tax rolls of the following years, in i ct U f=;= ?:?ears the amount stated below for each such year, collectible in the respec -t iv e ing years: .al Amount Year Amount Year Amount t,36�. $ 165,815 1973 $ 138,180 1983 $ 141,690 t� t' 135,410 1974 146,400 1984 148,825 1965 1449 280 1975 1439800 1985 145,130 966 1429325 1976 141,195 1986 151,935 1967 1409375 1977 135,590 1987 147,840 1966. 1385420 197F, 146,485 1988 143,745 1969 1369470 1979 143,555 1989 150SI50 -, S70 1459015 1980 140,625 1990 145,715 1971 142,735 1981 148,195 1991 1515775 J.972 140, 460 1982 144,940 Ute:^ the delivery of the bonds, such tax shall be irrepealalble until all such indebtedness is paid, and after the issuance of the bonds no further action by the :Fort: Authority shall be necessary to authorize the extension, assessinent ar.;1 -ol1nction of such tax. The Secretary shall forthwith furnish to the County midi-' : -or of Ramsey County a certified copy of this resolution and of the re8o1ati.o:- -3f the City Council of Saint Paul concurring herein, together with full iz'for.) -nath -a 2ge -ding the bonds for which the tax is levied, and the tax shall then be extane";. d id assessed and the proceeds thereof accounted for as provided in said Ordin -Mica Jo. 12287. 5o The President, Secr.�,tary, Treasurer and otter officers of the Port Authority and the officers of the City of Saint Paul are authorized and requesterE to furnish to the purchaser of the bonds and to the attorneys approving the thereof, certified copies of all ordinances, resolutions and other actions and jmlt"s. cr ed!Ms taken by the City and Part Authority with reference to the authorizatioon. Issuance, sale and delivery of the bonds, and such certificates or affidavits as i-u other matters appearing is their official records or otherwise known to them, as s °.r, reasonably be required to evidence the validity and marketability of the bonds; a-1 it l all oex:ified copies, certificates and affidavits so furnished, including aay i:er, -- tofore furnished, shall be deemed representations of the Port Authority as to the corwectness of all facts and the taking of all actions stated or recitedthereir, 6. Pursuant to the specific authorization contained in said Ordinance R.. .12287 of the City of Saint Paul, the full faith, credit and resources of said Ciniq s well as those of the Port Authority of the City of Saint Paul, are hereby pledcct�, m3m E�. E i fol;, the pmmt and RLU payment-- of the principal off and Intex est on the bonds herein authorized as such principal and 'interest become flue. in the event, that the collections o: the tax hel.,,ein authorized should at any time be imuf iclent Zor for the pWiient oft such Prih -W!pal Or Interest, the Fort Authority is audIOPized ' and obligated. under Khmesotei S atutes, Sections 475,61 and 475.74 to levy addl- ; t oa tastes, u n all th.e =-able pr�iperty ����.'�l the City x apse goon such deficiwey9 -uhlch levies may be made wkehout l,atftaiclon as to rate or amunta Attest: Secretary i L (SF *) . Adopt "e 18, 1963 AZE �L-- President Fort Authority of -c;le CIty of Saint Paul_ 4R, r ,.a st i • r} .J i OLADRUrLICATE TO DErART:.(ENT ^����^ CITY OF ST. PAUL COUNCIL NO. OFFICE OF THE CITY CLERK COUNCIL RESOLUTION — GENERAL FORM PRESENTED BY COMMISSIONER eATF RESOIi<VED, by the Council of the City of Saint Paul, that this Council does hereby concur in each and all of the terms and provisions of Resolution No. 227 adopted by the Port Authorit� of the City of Saint Paul dated June 18, 1963 entitled, "Resolution Awarding Sale of $�, 5001000 General Improvement D;'nds, Series D, 9-Fixing the Interest Rates and Other Terms Thereof, and Levying and Appropriating Taxos for the Paymont o ;V Principal and Interest Thereon ", a copy of which has beam certified to the Council by the Secretary of the Port Autti.orlty and is now on file in the office of the City Clark atd by-reference incorporated herein and made part and parool hereof, and the Council specifically, but without limi.'tlsti.on, concurs in the award of sale of bonds, interest rates, date, denominations, placo of payment, form and details of the Fort Authority's General Improvement Bonds, Series D, It the amount of $20500,000 dated June 11 1963, as specified ,tn said resolution, and In the years and amount specified for the taxes levied for the payment of said bonds, and does hereby find, determine and declare that all such provisions tre in accordance with Ordinance ado. 12287 of the City of Sa I nRt Paul, adopted September 27, 1962, and are hereby apptoved, ratified and confirmed. COUNCILMEN Yeas Nays Dalghsh Holland Loss Mortinson Rosen Mr. President, Vavoulis 10M 8-82 In Favor Against JUN 19 Im Adopted by the Council 19— 5n 1.9 190 Approved 19_ Mayor E OPORTTHORITY OF THE CITY OF ST. PAUL MINNESOTA BUILDING, 4TH AND CEDAR, ST. PAUL 1, MINN. /224 -5686 I June 18, 1963 Mr. Donald Lais Corporation Counsel City of Saint Paul City Hall and Court House Saint Paul 1, Minnesota Dear Mr. Lais: There is attached hereto a certified copy of an extract of the minutes of the regular meeting of the Port Authority of the City of Saint Paul held June 18, 1963,= together with a certified copy of Resolution No. 227 adopted at that meeting. It is necessary that the terms of the attached resolution awarding the sale of $2,5005000 of Port Authority General Improvement Borrb, Series D be approved by the City Council ordinance to validate the sale. It is therefore requested that the necessary resolution to this end be prepared for submission to the City Council. Probably either or both Commissioners Robert Peterson or Bernard Holland should introduce the resolution to the City Council, inasmuch as they are also Commissioners of the Port Authority. As time'is of the essence, we would appreciate your handling this matter and placing it before the City Council at their meeting at 10:00 a.m, on Wednesday, June 19, 1963. In assistance to you, there is attached hereto a draft of such a proposed ordinance for adoption by the City Council and which includes the required essentials of this matter. The same form of ordinance has been used in the three prior issues-of Port Authority General Improvement Bonds. Very truly yours, Fred W. Fisher Secretary rJOEW FRANK D. MARZITELLI FRANK E. CLAWSON DALE D. BRADDOCK EXECUTIVE VICE PRESIDENT DIRECTOR, INDUSTRIAL DEVELOPMENT CHIEF ENGINEER COMMISSIONERS PHILIP H. NASON RICHARD C. RADMAN FRED W. FISHER NEIL H. GRIEBENOW H. WILLIAM BLAKE BERNARD T. HOLLAND ROBERT F. PETERSON PRESIDENT VICE PRESIDENT SECRETARY TREASURER LEGISLATIVE ADVISORS NICHOLAS D. COLEMAN, STATE SENATOR D. D. WOZNIAK. STATE REPRESENTATIVE 1 U - I RESOLVED, by the Council of the City of Saint Paul, that this Council does hereby concur in each and all of the terms and provisions of Resolution No. 227 adopted by the Port Authority of the City of Saint Paul, dated June 18,11963 entitled, "Resolution Awarding Sale of $2,500,000 General Improvement Bonds, Series D, Fixing the Interest Rates and - Other Terms Thereof, and Levying and Appropriating Taxes for the Payment of Principal and Interest Thereon ", a copy of which has been certified to the Council by the Secretary of the Port Authority andris now on file in the office of the City Clerk and, by reference, incorporated herein and made - part and parcel hereof, and the Council specifically_, but without limitation, concurs in the award of sale of bonds, interest rates, date, denominations, place of payment, form and details of the Port Authority's General Improvement Bonds, Series D, in the amount of $2,500,000 dated June 1, 1963, as specified in said resolution, and in the years and amount . specified for the taxes levied for the payment of said bonds, - and does hereby find, determine and declare that all such provisions are in accordance with Ordinance No. 12287 of the City of Saint Paul, adopted September 27, 1962, -and are hereby approved, ratified and confirmed. - _ - r t - s • r s - — T- � - a 4 - r Extract of Minutes of Regular Meeting Port Authority of the City of Saint Paul Saint Paul, Minnesota June 18, 1963 Pursuant to due call and notice thereof, a regular meeting of the Port Authority of the City of Saint Paul was held at its offices at 1130 Minnesota Build- ing, 46 East Fourth Street, Saint Paul 1, Minnesota, on Tuesday, June 18, 1963, at 2:00 o'clock P.M. The following Commissioners were present: Richard C. Radman, Vice President, H. William Blake, Fred W. Fisher, Robert F. Peterson, Bernard T. Holland and the following were absent: Philip It. Nason, Chairman, Neil H. Griebenow, Treasurer* * * * * * * * # The Assistant Treasurer of the Port Authority, in the absence of the Treasurer, presented affidavits showing publication of the official advertisement of notice of sale of $2,500,000 General Improvement Bonds, Series D, as directed at the Port Authority's meeting May 23, 1963, which affidavits were examined and found satisfactory and directed to be placed on file in the office of the Secretary. The Assistant Treasurer reported that 16 sealed bids had been received in accordance with the official advertisement up to 12:00 noon this date, and were then opened and tabulated, and he presented the bids so received and his tabulation thereof. After examination and consideration of the bids received by the Port Authority, Commissioner Holland introduced the following proposed resolu- tion and moved its adoption: RESOLUTION AWARDING SALE OF $2,500,000 GENERAL IMPROVEMENT BONDS, SERIES D, FIXING THE INTEREST RATES AND OTHER TERMS THEREOF, AND LEVYING AND APPROPRIATING TAXES FOR THE PAYMENT OF PRINCIPAL AND INTEREST THEREON 541 1 � The motion for the adoption of the resolution, which was given the No. 227 was duly seconded by Commissioner Peterson , and upon vote being taken thereon, the following voted in favor thereof: All in favor and'the following voted against the same: None. whereupon said Resolution No. 227 was declared duly passed and adopted. STATE OF MINNESOTA) ) ss. COUNTY OF RAMSEY ) I, the undersigned, being the duly qualified and acting Secretary of the Port Authority of the City of Saint Paul, hereby certify that the attached and fore- going is a full, true and correct transcript of the minutes of a meeting of said Port Authority duly called and held on June 18, 1963, so far as such minutes relate to $2,500,000 General Improvement Bonds, Series D of said Authority; and that also attached hereto are a full, true and correct copy of the resolution and a full, true and correct copy of the tabulation of the bids received for said bonds, as indicated in said minutes. 1963. WITNESS my hand and the seal of the Port Authority this 18th day of June, r . ``- (SEAL) f -2- Secretary Resolution No. 227 June 18, 1963 RESOLUTION AWARDING SALE OF $2,500,000 GENEIUX IMPROVEMENT BONDS, SERIES D. FIXING THE INTEMT MATES AND OTHER TEFMS THEREOF, AND LEWING MID APPROPRIATING TAXES FOR THE PAYMENT OF PRINCIPAL AND INTEREST THEREON BE IT RESOLVED BY THE 19 OM' AUTHORITY OF THE CITY OF SAINT PAUL 1. Under and pursuant to Resolution No. 186 adopted by the Port Authority on September 5, 1962, and Ordinance No. 12287 of the City of Saint Paul adopted by the City Council on September 27, 1962, and the pertinent provisions of Minnesota Statutes, as amended, including Section 458.193 and Chapter 475, the Fort Authority has provided for public sale of $2,500,000• General Improvement Bonds, Series D, and has caused notice of the time and the place for the receiving of the bids to be pub- lished not less than two weeks before the date of receiving bids, and has considered all bids received pursuant to the published notice, and does hereby find and deter- mine that the highest and best of such bids is that of The Northern Trust Company , of Chicago, 11.1inois , and associates named therein, to purchase the bonds at a price of par plus accrued interest to the date of delivery thereof, plus a prey um of %,931 , and bearing interest at the respective rates stated below, and subject to the further temms and conditions skated in this resolution and in said Ordinance No. 12287. The sale of the bonds is hereby awarded to said bidder, provided that the Secretany shall forthwith pre- sent; this resolution to the City Council of the City of Saint, Paul, for approval of the re;nairLing provisions of the bonds herein stated which require such approval !{ under law, other than those established by said ordinance, and after such approval the President and Secretary shFJ -1 make and exemite on the part of the Port Authority a contract for the vale of the bonds upon these terms. The good Faith check furnished by the successful bidder shall be refrained by the Treasurer of the Fort Authority until the bonds have been delivered and payment has been made in full, and the Treasurer shall retina the • cheeks of other bidders forthwith. 2. Said General. Improvement Honds, Series D shall now be issued and delivered in the aggregate principal amount of $2,500,000 and in the denandnation of $ 5, 000 each, payable to bearer, shall be 500 in number and numbered from I to 500 inclusive, shall be dated as of June 1, 1963, and shall matw.v serially, lowest numbers first, on June 1 in the years and amounts as follows, bearing interest at the respective annual rates stated opposite their maturity years and amounts., -1- t Interest Year Amount Rate Interest Year Amount Rate 1966 $509000 3.10 1980 $ 90,000 3.10 s3u7 60,000 3.10 1981 909000 3.10 1968 60,000 3.10 1982 90,000 3.10 1969 60,000 3.10 1983 100,000 3.10 1970 60,000 3.10 1984 1009000 3.10 1971 60,000 3.10 1985 100,000 3.20 1972 70,000 3.10 1986 110,000 3.20 1973 70,000 3.10 1987 110,000 3.20 1974 70,000 3.10 1988 120,000 3.25 1975 70,000 3.10 1989 1209000 3.25 1976 80,000 3.10 1990 1209000 3.25 1977 80,000 3.10 1991 1305000 3.25 1978 80,000 3.10 1992 1309000 3.25 1979 809000 3.10 1993 140,000 3.25 The bonds maturing in the years 1984 through 1993 shall each be subject to redemp- tion and prepayment, at the option of the Port Authority, on June 1, 1983, and on any interest payment date thereafter, at a price of par and accrued interest and in inverse order of their serial numbers. Not less than 30 days prior to the date specified for the redemption.of said bonds, the Treasurer will mail notice of -the call thereof to the holder, if known, and to the bank at which principal and interest are then payable. Said Treasurer shall maintain a record of the serial numbers of prepayable bonds and the names and addresses of the holders thereof, so far as such information is made available to him for the purpose of mailing such notices. The interest on the bonds shall be payable December 1, 1963, and semiannually thereafter,on June 1 and December 1 in each year, and both principal and interest shall be payable at TPhe: Trutt Company in Ohiicaafl, rl linois. , and the Port Authaity hereby agrees to pay the reasonable and customary charges of the paying agent for the receipt and disbursement of the principal and interest. 3. The bonds shall be prepared for execution under the direction of the Secretary, in substantially the form set forth in Ordinance No. 12287, and when so prepared shall be executed by the lithographed facsimile signature of the President of the Port Authority, countersigned, by the manual signature of the Treasurer, at- tested by the lithographed facsimile signature of the Secretary, and sealed with a lithographed facsimile of the official seal of the Port Authority, and each of the interest coupons annexed to the bonds shall be executed and authenticated by the lithographed facsimile signatures of the President and Secretary, and a true and correct copy of the opinion rendered by bond counsel as to the validity of the issue to be rendered at the time of delivery thereof, shall be printed on the reverse side of each bond. When the bonds and coupons have been so prepared and executed, they shall be delivered by the Treasurer of the Port Authority to the purchaser, upon payment of the purchase price above stated, and the purchaser shall not be obligated to see to the application of the purchase price. however, the proceeds of the bonds shall be segregated by the Treasurer in a separate and special fund of the Port -2- Authority, and shall be used solely for the purpose for which the bonds xvere authorized as stated in Ordinance No. 12287 4. In accordance with said ordinance and laws, there is- hereby Levied for each year, until the principal and interest of the bonds are paid in full, a dire ►Tkt, annual, ad valorem tax on all the -taxable property In the City of Saint Paul,, not les9 than five per cent in Excess of the sums required to pay tke 3rina pal and interest thereof when and as such principal and interest mature, :laali tax shall by extended upon the tax rolls of the following years, -in not 1_,s ehart •tote amount stated below for each such year, collectible in the respectiv:: issuing years: Year Amount Year AFL Year Amounc 196'3 $ 1659815 1973 $ 1389180 1983 $ 141,590 2.964• 135,410 1974 1469400 1984 148,825 1965, 144,280 1975 1439800 1985 145,130 196e 142,325 1976 141,195 1986 151,935 1967 1409 375 1977 1359S90 1987 147,840 1968 138,420 1979, 146,1185 1988 143,745 1969 1365,470 1979 143,555 1939 150,150 1970 145$015 1980 140,625 1990 145,715 1971 142 1,735 1981 148,195 1991 151,775 2972 140,460 1982 144,940 U -ter the delivery of the bonds, such tax shall be irrepealable until all such indebtedness is paid, and after the issuance of the bonds no further action by the Port Authority shall be necessary to authorize the extension, assessment and ,.ollection of such tax, The Secretary shall forthwith Furnish to the County Auditor of Ramsey County a certified copy of this resolution and of the resolu•t�.ci -o' the City Council of Saint Paul concurring herein, together kith full inf:mural, z , the bonds for which the tax is levied, and the tax shall then be a xtuvr ..�.., assessed and the proceeds thereof accounted for as provided in said Ord naauc �1o. 122870 5, The President, Secretary, Treasurer and other officers of the Port lmthor3ty and the officers of the City of Saint Paul are authorized and requester •to fumish to the purchaser of the bonds and -to the attorneys approving the thereof, certified copies of all ordinances, resolutions and other actions and pr:; ceediMa taken by the City and Port Authority with reference to the authorization. 3ssu.zzmce, sale and delivery of the bonds, and such certificates or affidavits. as other matters appearing in their official records or otherwise known to then, as }1.1r, 7re:av_ynably be required to evidence the validity and marketability of -the bonds; z:�.:J all certified copies,, certificates and affidavits so furnished, including asay ha -ran ti-3fore furnished, shall be deemed representations of the Port Authority as to thy: correctness of all facts and the taking of all actions stated or recitedthereinc 6. Pursuant to the specific authorization contained in said Ordinance F;- 12287 of the City of Saint Paul, the full faith, credit and resources of said Citt as well as those of the Port Authority of the City of Saint Paul, are hereby plan:, -3- for the prwdpt and fiaU payment of the principal of and interest on the bonds herein authorized as such principal and Interest become due. In the event that the collections of the tax herein authorized shmtald at any time be Insufficient fox, for the payment of such principal or Interest,, the Port Authority Is aaathorized and obligated under Minnesota Statutes a Sections 475.61 and 475.74 to levy adds= tional taxes upon all the taxable property within the City to ice good such de£iciencya which levies may be made without lb-a Cation as to rate or amunt. Attests Secretary (SEAL) Adopted June 18 a 1963. �l President Fort Authority of the City of Saint Paul 2 I SUMMARY OF BIDS RECEIVED BY THE PORT AUTHORITY OF THE CITY OF SAINT PAUL AT 12 :00 NOON ON JUNE 189 1963 FOR THE SALE OF $295009000 GENERAL IMPROVEMENT BONDS, SERIES D. All bids cover bonds due serially over 30 years, subject to call after 20 years. 1. The Northern Trust Company — Managers Associates: The First Boston Corporation White, Weld & Co. Dean Witter - & Co. William Blair & Company Interest rates 3.10% to 3.25%. Premium $1,931000. Net Interest cost $1,4889624.00; average net interest rate 3.17878 %. 2. Lehman Brothers ® Managers Associates: Goldman, Sachs & Co. Salomon Brothers & Hutzler Ira Haupt & Co. J. Barth & Co. Geo. Bo gibbons & Company A. G. Edwards & Sons I. M. Simon & Co. Hess, Grant & Remington, Inc. Interest rates 3 %,to 3.25 %. Premium $200.00. Net interest cost $1,,489,175.0.0; average net interest rate 3.1800$. 3. Kidder, Peabody & Co. v Managers Associates: R. W. Pressprich & Co. Francis I. duPont & Co. Braun,, Bosworth & Co., Incorporated Fitzpatrick,, Sullivan & Co. Schmidt, Roberts & Parke R. James Foster & Co., Inc. Interest rates 3% to 3.30 %. Premium $12.00. Net interest cost $1,5059668.00; average net interest rate 3.2151 %. 4, Halsey, Stuart & Co,, Inc. a Managers Associates: Glore, Forgan & Co. Blair & Co,, Incorporated The Philadelphia Nathnal Bank G, Ho Walker & Co. McCormick & Co. The National City Bank of Cleveland Allan Blair & Company Robert K. Wallace "& Co. Interest rates 3.00% to 3030 %. Premium $1,425.00. Net interest cost $1,505,710000; average net interest rate 3021526 %. 5, The Chase Manhattan Bank m Managers Associates: Co J. Devine & Co. John Nuveen & Co. (Incorporated) Interest rates 3010% to 3030 %. Premium $600000. Net Interest cost $1,506,070000; average net interest rate 3,216 %. 60 "Harris Truest and Savings Bank, Chicago - Managers Associates: First National Bank of Oregon, Portland Lo F. Rothschild & Co,. Trust Company of Georgia The Marine Trust Company of Western New York W. E. Hutton & Co. Commerce Trust Company Eddleman, Pollok & Fosdick, Inc. Shaughnessy & Company, Inc. Interest rates 3010% to 3.30 %, Premium $624000. Net interest cost $1,506,376,00; average net interest rate 3,2166 %, 70 8. 9. Phelps, Fenn & Co. ® Managers Associates: Stone & Webster Securities Corp. F. S. Moseley & Co. Hemphill, Noyes & Co. Paine,, Webber, Jackson & Curtis Hallgarten & Co. Lee Higginson Corporation Weeden & Co.,, Inc. Dominick & Dominick Wm. E.Pollock & Co., Inc. Newhard, Cook & Co. Ginther & Company The Milwaukee Company J. M. Dain & Co., Inca Interest rates 3.10% to 3.30 %. Premium $700000. Net interest cost $1,508,780.00; average net interest rate 3.2218 %. The First National Bank of Chicago e Manager Associates: Continental Illinois National Bank and Trust Company of Chicago Stroud & Company, Incorporated Robert W. Baird & Co., Incorporated J. A. Hogle & Co. Burns, Corbett & Pickard, Inc. American National Bank, St. Paul Interest rates 3.10% to 3.30 %. Premium $19131.00. Net interest cost $19511.024.00; average net interest rate 3.226615 %. Harriman Ripley & Co., Incorporated - Manager Associates: Mercantile Trust Company Clark, Dodge & Co., Inc. J. C. Bradford & Co. Barr Brothers & Co. Winslow, Cohu & Stetson,, Inc. Juran & Moody, Inc. Mullaney, Wells & Company Interest rates 3.10% to 3.30 %. Premium $220.00. Net interest cost $1,513,200.008 average net interest rate 3.23126 %. loo First National City Bank - Managers Associates: Merrill Lynch, Pierce, Fenner & Smith, Inc,, Roosevelt & Cross, Inc. Wood, Struthers & Co., Inc. Brown Brothers Harriman & Co. Industrial National Bank of Rhode Island Interest rates 3.00% to 3.30 %. Premium $1,450.00. Net interest cost $1,515,505,,00; average net interest rate 3,,•2361 %. 11. Bankers Trust Company, New York, New York - Managers Associates: Chemical Bank New York Trust Company, New York, New York Drexel & Co., New York, New York, R. S. Dickson & Company, Incorporated, New York, New York Third National Bank in Nashville, Tennessee Seattle Trust and Savings Bank, Seattle, Washington Interest rates 3.20% to 3,,30 %. Premium $4,572.50• Net interest cost $1,516,042,,50; average net interest rate 3.23733 %. 12. Equitable Securities Corporation - Manager Associates: None Interest rates 3.10% to 3.40 %. Premium $186,,00,, Net Interest cost $1,518,319.00; average net interest rate 3.2421 %. 13.,, Shields & Company - Manager Associates: Bear, Stearns & Co. National State Bank, Newark Gregory & Sons Irving J. Rice & Company, Incorporated Field, Richards & Coo Go C. Haas & Co. Lyons, Hannahs & Lee, Inc. Rodman & Renshaw McDougal & Condon, Inc. DeHaven & Townsend, Crouter & Bodine Park, Ryan, Inc. Parker, Eisen, Waeckerle, Adams & Purcell, Inc. F. R. Cole & Co. Janney, Battles & E. W. Clark, Inc. Herbert J. Sims &.Co., Inc. Manley, Bennett, McDonald & Co. Ferris & Company (Conthmed) a !x r 13. Shields & Company - Manager (Continued) Interest rates 3.00% to 3.30 %. Premium $475000. Net interest cost $1,519,460.009 average net interest rate 3.244629 %. 14. Eastman Dillon, Union Securities & Co. - Manager Associates: Reynolds & Co., Inc. Estabro6k & Co. Dick & Merle -Smith Coffin & Burr Kean, Taylor & Co. Tucker, Anthony & R. L. Day Spencer, Trask & Co. Bache & Co. E. F. Hutton & Company Wood, Gundy & Co., Inc. Kalman & Company, Inc. Interest rates 3.0% to 3.30 %. Premium - None. Net interest cost $1,520.120.009 average net interest rate 3.2460 %. 15. Blyth & Co., Inc. a Manager Associates: Smith, Barney & Co. First of Michigan Corporation Bacon, Whipple & Co. Stern Brothers & Co. Allison - Williams Company Interest rates 3.00% to 3.40 %. Premium - None. Net interest cost $1,533,205000; average net interest rate 3.2739 %. 16. Morgan Guaranty Trust Company of New York - Manager Associates: Kuhn, Loeb & Co. Hirsch & Coo Shearson, Hammill & Co. Adams, McEntree & Co., Inc. Green, Ellis & Anderson Ernst & Co. Rand & Co. A. Webster Dougherty & Co. Interest rates 3.25% to 3,40/. Premium $49250.00. Net interest cost $19537,500,009 average net interest rate 3.2831 %. .. - -. _' i - .1!� �' - .. :� is ;+" • •y • . .. , , iY i •.• - • ♦. • �..0 - .. `; t . . •'� ••5 �.' ` .' - -�W _ > -' • - _ , +' "e�s :l• +i �l. �} of L'.. _ L oil ..... Ln,#MOITY'`:UF THE `CIl'Y U . 3#1X-NT = PAOL` PO ra 4 ° 11 0 Mitirr0sgta:' Biiildin •., °; � a.. ',. * ? �' . � , _ .. _ • •- -: l _ -� : ', ?: • -� •Saiit.�Psul � �., I�ififr�so�� -• . ' • : , , � _ :� vx a � . �• ..,. . , , , _ � �,:... - -�- •.',:�'- • �•� = _ �� � '-` -• • . ' ` ",� ' i �, ,.' - f . • 'June ''lj "`1963. �{ ,r• � *a:* Og H 0 elg rA r 'x!' Git) �, Clerk + ♦ -• .' c - - , +"• '_ �• `dam•. .' • '�1i• iPaul' city ef' SaiTkt� > Y ` :�� . ; • . City a314 Court" HOUSe - Sault' Paul. 2, Mtim2: to r 1 �- C• 1 - - r - • Deii. Mrs, 0! Con �sil� 'There 3.s iattached herdtwiL *pertlfted copy; of Vin' extract '9'f the _minut_es- o� the r2gu� �r "meeting of `the Port. �[u� &aty o _ the city '.of ^ a ilnt'•, Poul li aid - Jutne 18; 1'963 together r�ith °,al c #tified. �opy''of.,Res'Olution'Nu: doptgd at',ttxaf m6etii �. 'It AS :requested' ­ ihat -you kir)dl'y" � oe theie ..documents l do ,..31e and a reeord iii office: your: r'Very truly, y"ourg, t F. VE - Pi,tzpatriek onsfallimt . t '' C. - _ , -Y `� a • - r.+ • - _ `� jam. •• .. -. - �.,` �•.. Y� _ mil. s _5 . •:r , ;_ ,_. .' �.., _ _Y` -t