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210365ORIGINAL TO CITY CLERK CITY OF ST. PAUL OFFICE OF THE CITY CLERK UNCIL RESOLUTION — GENERAL FORM PRESENTED BY COMMISSIONI if�i5 „ardx - �GA���, COUNCIL FILE NO — 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. 194 adopted by the Port Authority of the City of Saint Paul, dated December 11, 1962, en- titled, "Resolution Awarding Sale of $2,500,000 General Improvement Bonds, Series C. Fixing the Interest Rates and Other Terms Thereof, arld 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 C. in the amount of $2,,500,000 dated December 1, 1962, 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, deter- mine and declare that all such provisions are in accordance with Ordinance No. 12166 of the City of Saint Paul, adopted March 13, 1962, and are hereby approved, ratified and confirmed. , COUNCILMEN Yeas Nays Dalglish Loss Mortinson Peterson Rosen Mr. President, Vavoulis IOM 6-62 Council File No. 210365 —By Robert F. Peterson — 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 Reso- lution No. 194 adopted by the Port Authority of the City of Saint Paul, dated December 11, 1962, entitled, "Re- solution Awarding • Sale of $2,500,000 General Improvement Bonds, Series C, Fixing the Interest Rates and Other Terms Thereof, and Levying and Ap- propriating 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 ipecifically, 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 C, in the amount of $2,500,000 dated De- cember 1, 1962, 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. 12166 of the City of Saint Paul, adopted March 13, 1962, and are hereby approved, ratified and confirmed. Adopted by the Council December 12, 1902. Approved December 12, 1962. (December 15, 1962) —fin Favor Against BEC 12 �96� the Council 19- ?� 121562 1proved 19— Mayor DUPLICATE TO PRINTER CITY OF ST. PAUL OFFICE OF THE CITY CLERK COUNCIL RESOLUTION — GENERAL FORM PRESENTED BY COMMISSIONE COUNCIL 210365 FILE NO - 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. 194 adopted by the Port Authority of the City of Saint Paul, dated December 11, 1962, en- titled, "Resolution Awarding Sale of $29500,000 General Improvement Bonds, Series Co 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 C, in the amount of $2,500,000 dated December It 1962, 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, deter- mine and declare that all such provisions are in accordance with Ordinance No. 12166 of the City of Saint Paul, adopted March 13, 1962, and are hereby approved, ratified and confirmed. COUNCILMEN Yeas Nays Dalglish _H4Ran4j— Loss Mortinson Peterson Rosen Mr. President, Vavoulis 10M 8-82 Tn Favor a A gainst I oF Adopted by the Council 19— Approved 19— Mayor III — o—,r 0 FRANK D. MARZITELLI EXECUTIVE VICE PRESIDENT LYLE E. KINVIG GENERAL MANAGER FRANK E. CLAWSON DIRECTOR INDUSTRIAL DEVELOPMENT DALE D. BRADDOCK CHIEF ENGINEER PHILIP W FITZPATRICK CONSULTANT COMMISSIONERS PHILIP H. NASON PRESIDENT RICHARD C. RADMAN VICE PRESIDENT ROBERT W JOHNSON SECRETARY NEIL H. GRIEBENOW TREASURER ALBERT J. BRAND BERNARD T. HOLLAND ROBERT F. PETERSON LEGISLATIVE ADFISORS H. W SCHULTZ ■TATS SENATOR D. D. WOZNIAK STATE REPRESENTATIVE P O R T A U T H O R I T Y OF T H E C I T Y OF S A I N T P A U L \60 E A S T F O U R T H S T R E E T SAINT PAUL I, MINNESOTA - 224 -5686 December 11, 1962 Mayor Vavoulis and Members of the City Council of the City of Saint Paul City Hall and Court House Saint Paul 2, Minnesota Subject: $2,500,000 Port Authority General Improvement Bonds, Series C Gentlemen: There is attached hereto a certified copy of Port Authority Resolution No. 194 that was adopted at the Special Meeting of the Port Authority held December 11, 1962. This resolution awarded the sale of the above referred to bond issue to the bidder submitting the best bid and which bid was in full accordance with the terms of the Advertise- ment for the sale of these bonds, this sale being subject to the approval "of your Honorable Body as to the rate of interest that said bonds shall bear, all in accordance with your Ordinance No. 12166 approved March 13, 1962. It is therefore requested that your Honorable Body consider and adopt a council resolution approving of the award of the sale of these bonds in accordance with the terms of Port Authority Resolution No. 194. PWF:js Enc. 1 Respectfully yours, o WIA�\ P. H: Nason President Resolution No. 193 December 11, 1962 RESOLUTION AWARDING SALE OF $2,500,000 GENERAL IMPROVEMCNT BONDS, SERIES C, FIXING THE INTEREST RATES AND OTHER TEPM THEREOF, ARID LEVYING ARID APPROPRIATING TAXES FOR THE PAY11M OF PRINCIPAL AND INTEREST THERM -N BE IT RESOLVED BY THE PORT AUTHORITY OF THE CITY OF SAINT PAUL: 1. Under and pursuant to Resolution No. 159 adopted by the Port Authority on January 23, 1962, and Ordinance No. 12166 of the City of Saint Paul adopted by the City Council on March 13, 1962. and the pertinent provisions of Minnesota Statutes, as amended, including Section 4!,8.193 and Chapter 475, -the Port Authority has provided for public sale of $2,500,000 General Improvement Bonds, Series C, and has caused notice of the time and the place for the receiving of the bids to be published not less than 7h o weeks before the date of receiving bids, and has considered all bids received pursuant to the published notice, and does hereby find and deteine that the highest and best of such bids is that of Bakers Trent Compmy , of New Mork, New York and associates named therain, to purchase the bonds at a price of par plus accrued interest to the date of delivery thereof, plus a premium of $4,922.50 , and bearings interest at the respective rates stated below, and subject to the further teaks and conditions stated in this resolution and in said Ordinance No. 12166. The sale of the bonds is hereby awarded to said bidder, provided that the Secretary shall forthwith present this resolution to the City Council of the City of Saint Paul, for approval of the remaining 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 Port Authority a contract for the sale of the bonds upon these terms. The good faith cheep furnished by the successful bidder shall be retained by the Treasure-r of the Port • Authority until the bonds have been delivered and payment has been made In Bull, and the Treasurer shall ratuIlrn the checks of other bidders forthwith. 2. Said General Improvement fonds, Series C shall now be issued and delivered in the yggragate principal arotunt of $2,500,000 and in the denomination of $ 5,000 each, payable to beirnr shall be number S00 in and num"�ered from 1 to 500 inclusive, shall be dated as of December 1, 1962, and shall i-siatu.re serially, lowest numbers first, on December 1 in the years and amounts as follows, bearing interest at the respective annual rates started apposite their maturity years and amountso. The bands maturing in the years 1983 -through "2.992 shall each be subject to redpaiption and prepayment, at the opcion of the Port Authority, an December 1, 1982, and on any interests payment date thereafter, at a price of par and an6rued interest and in inverse ord,no of their serial numbers. Not less than 30 days prior to the dare specified for the redemption of said.bonds, the Treasurer will mail notice of the call ther:nf to the holder, if known, and to the bank at tihich principal and interest are then payable, Said Treasurer shall maintain a record of the serial numbers of prepayable -bond; and the names and addresses of the holdtis ther;aof, so,fFr as sdch Information is made available to him for the r-url -rze of mailing such notices. The interest on the bonds shall be payable Jun 1, 1963, and semiannually thereafter on December 1 and Jenne 1 in each yeai,, and both principal and interest shall be payable at Bankers Trust Company in New York, Nv3 York , and the Port Authority hest_,by agrees to pay the rea.sonabd.e and customary chargas of the paying agent for the i�aceipt and disbu!L,�aemant of the princilF:j . ani interest. 3. The bond.-, shall bl? pm —pared for executich under the direction or the Secratary, i.n the form sett forth in Ordinaien No. 12166, and when so prapared shall b L- by the lithographed fac,imile signa- ture of Vh2 Pvasi csnt of tht-, Authority, countersigned by the litho¢ graphe& facsimile signsturn o-- tha T �,easurarc, attested by the m;nasl signa- ture of thy: Secz:- otEiry, cud c,,iLj _ed with a lithographed facsimile of the. official seal of the Port Aut'1:o,_Aity, :Insd. each of the intereat ecupons annexed to the bands sh-nil be and a&hentieated by the lithographed facsimile signatures of tho President -._ ad Svcratttry, and a true and correct copy of the opinion rancderad by bond mu r) -j1 ao to the validity of the issue; to be mnd.erad at the tirac of dellvi�_�y tlivronf, shall be printed on the reverse side of each bond. When the bonds and ioupons have been so pr epa r,ad and executed, they shall be delivered. by t1a Treasurer of the Port :Authority to the purchaser, upon payment of the .�esrchsse price above stated, and the purchaser shall not be obligated to se -i to the application of •tl(i purchase price. Hovmver, the lameeeds of -t!ie V)i1ds shall be segregated b;,- the Treasurer in a separate and spaeia l fund of the Port Authority, E:nd shall be used solely for the pu -pose feL° rrhioli the bonds ware authorizs,, as stated in Ordinance Igo. 12166, inelduinZ the payment and redemption of tits General Obligation Bond Anticipation tutus in the amoiant of $750,0(30. edate,l as of Interest Interest Year- Amount Rate Year Amount Rate 1965' $50,000 2.75% 1979 $ 90,000 3.00% 1966 60,000 2.7S% 1980 90,000 3.00% 1961 60,000 2.15% 1981 90,000 3.00% 1968 60,000 2.715% 3.982 100,000 3.00% 1969 60,000 2.75% 1983 1€30,000 3.00% 1970 60,000 2.75% 1984• 100,000 3.00% 1971 70,000 2.75% 1485 110,000 3.00% 1972 70,000 2.75% 1936 i1o, 000 3.10% 1973 70,000 3.00% 1987 126,000 3.10% 1974 70,000 3.00% 19E8 120,000 3. IV% 1975 80,000 3.00% 1981 120.000 3.20% 1976 80, MG 3.06% 1990 130,000 3.20% 1977 80,000 3.00% 1991 130,000 3.20% 1978 80,000 3.00% 1992. 140,000 3:20% The bands maturing in the years 1983 -through "2.992 shall each be subject to redpaiption and prepayment, at the opcion of the Port Authority, an December 1, 1982, and on any interests payment date thereafter, at a price of par and an6rued interest and in inverse ord,no of their serial numbers. Not less than 30 days prior to the dare specified for the redemption of said.bonds, the Treasurer will mail notice of the call ther:nf to the holder, if known, and to the bank at tihich principal and interest are then payable, Said Treasurer shall maintain a record of the serial numbers of prepayable -bond; and the names and addresses of the holdtis ther;aof, so,fFr as sdch Information is made available to him for the r-url -rze of mailing such notices. The interest on the bonds shall be payable Jun 1, 1963, and semiannually thereafter on December 1 and Jenne 1 in each yeai,, and both principal and interest shall be payable at Bankers Trust Company in New York, Nv3 York , and the Port Authority hest_,by agrees to pay the rea.sonabd.e and customary chargas of the paying agent for the i�aceipt and disbu!L,�aemant of the princilF:j . ani interest. 3. The bond.-, shall bl? pm —pared for executich under the direction or the Secratary, i.n the form sett forth in Ordinaien No. 12166, and when so prapared shall b L- by the lithographed fac,imile signa- ture of Vh2 Pvasi csnt of tht-, Authority, countersigned by the litho¢ graphe& facsimile signsturn o-- tha T �,easurarc, attested by the m;nasl signa- ture of thy: Secz:- otEiry, cud c,,iLj _ed with a lithographed facsimile of the. official seal of the Port Aut'1:o,_Aity, :Insd. each of the intereat ecupons annexed to the bands sh-nil be and a&hentieated by the lithographed facsimile signatures of tho President -._ ad Svcratttry, and a true and correct copy of the opinion rancderad by bond mu r) -j1 ao to the validity of the issue; to be mnd.erad at the tirac of dellvi�_�y tlivronf, shall be printed on the reverse side of each bond. When the bonds and ioupons have been so pr epa r,ad and executed, they shall be delivered. by t1a Treasurer of the Port :Authority to the purchaser, upon payment of the .�esrchsse price above stated, and the purchaser shall not be obligated to se -i to the application of •tl(i purchase price. Hovmver, the lameeeds of -t!ie V)i1ds shall be segregated b;,- the Treasurer in a separate and spaeia l fund of the Port Authority, E:nd shall be used solely for the pu -pose feL° rrhioli the bonds ware authorizs,, as stated in Ordinance Igo. 12166, inelduinZ the payment and redemption of tits General Obligation Bond Anticipation tutus in the amoiant of $750,0(30. edate,l as of 4_4 r� h November 1, 1952, with acer'ued interest on such notes to the dale of such payment. When said notes have been paid, the same shall be forthsiith cancelled. 4. In accordance with sa:id or&i nai'nce- and laws, 'there is hereby lovied for each yeav, mtil the fax ^kaoipal and interez'c of the bonds are paid in full, a diimcot, aratua'L ash valorkaam tWL an all the taxable property in -',.-he City of Saint pauul, not less chow .rive per cant in 'ekbb '6' of -she sums r:! uJixz!d -`o pay 'the principal and interest t heir zof w1han and as such principal sand Ain -' e est mature. Such tax shall be extcilded upon the 'L:ax rolls of -the following years, in not Less thm'I the amov.n� statod below for each such year, collectible in the respective ensuing years: ��ear m rn-Su t Year Aro,ant: Year Amount 1969 157,0 -00 1973 136,100 1983` 140,5UU 1964 131,400 1974 144, Q-00 1984 147, 8CO 1965 3.40, 800 975 Lgl,COO 1985 3.4kt,two 1965 138,700 3.976 139,300 1966 151,300 1967 137,000 197; 136,800 1987 147,400 1968 235,282 197_8 144,800 1988 143,500 1.969 133,500 19 e 1 =t1 ,900 1989 149,910 1970 1'.,-2,300 1980 139,100 1990 143, 6130 1971 1tw'Z00 1981 146,500 1991 151,700 1972 138, 000 1982 !E2,600 After the delivery of the boiids, sueh. tax shall be rrapealable until all ouch Indebtedness is paid, arts after' the issu&nee of the bonds no further action by the 'oz k Aidth©i. ity shall bo nuceGsavy to authorize ize Lhe axt ension, aa�s'".as -2r.t and coG leetion of f uea t:wt- The See's°etaxw shall 12*C1rthwith iiZrnish to the Cc--mt y of 'AaFiisay Cs7wity— a cored fried copy of Voris resolution -mid, of the rbs ©lE3e :st5n O-E the Civv Council of Saint Paul OOncursiing herein., to et:ho W`agc;ixling Uhn. bonds for t-fa ch the tax is levied, and the t-ax shall then %b sex-- ,tided and assessed and t=he proceeds thara,o'Y accounted boil as provided in said ®rdim- ee No. 1.21686. S., The Suiaiton�- � fir, cane's other oiSiaars of the Fort Authority IaAd t ho fdfficays Of t 1ho f°kty Of Sa a1 a: Paul c1re c'��.5�:borisc''rlll and rac:,pested to fukmish to the pure v soi4- of the borsds, anO -4© -�he at:toinneyo ay.,Lwo : ng tho t h :i-ao , d9eE t.? ULad Copies Of all € ;i ,JlLia's3cas , ! w O- lutions and oth_r actions and i rcoeeedings token by the City -w-d Port Authority [81'1h :cf•erenac to t"Aiv is=- 1110a, Salle and OC'li!vez!Y O.-F the bond 3j rand ,s,'sA.d2h c°M�L':Lficat e s or of `? O=iF!kG-s as ,UO oifner mat ze s appearing in t1mir ofaic:iaa or othar-jlse �wazTn to thUm, as -m-y reasonably be re- ouipad to avid uca t1az val l6 ty and ma_' etabil:ity of the bonds; and all certified Copies, end a:rfidsvili s so fu aaished, including any hc,- ztofor' 'k-urni:;ned4 shall be deemed ;.'ej-presentations of the Fort Ault oi-ity as to the o ie11 facts i- al 'rho tm1�".'la- o all actions stated or S`. e''? t.OSt Ve.orain. -3- J 6. Pursuant to the specific authorization contained in said Ordinance No. 1216G of the City of Saint Paul, the full Wth, credit and res©urees of said City, as well as those of the Port Authority of the City of Saint Paul, are hereby pledged for the preapt and full payment of the principal of and interest an the boards herein authorized as such principal and interest become due. In the event that the co.13mtlons of the tax herein authorized should at any tim be insufficient for the payment of such principal or interest, the Port Authority is authorized and obligated under Mivmesota Statutes, See-t ions 475.74 to levy additional tsases upon all the tgable property within the City to make such de£icienalf, which levies may be made without limitation as to rate or amunto Attest: Seep ary r' Adopted December 11, 19620 9��A 40 IM 'resident, Porgy: Authority