2087874
Council File No. 208787 —By James J.
ORIGINAL TO CITY CL6`RK Dalglish— I
: I — A WHEREAS, The Council of the City
CITY OF ST. PA 16f Saint Paul; pursuant to the provi-
` y lions of Ordinance No. 11575, adopted
OFFICE OF THE CIT 1ayo e ooh e and19 spr ve by the
!ft—pprz? L G by ti, id.',1�gt, � the city of Saint
F• t; geld Nn, , ber 3,
��' *,-nom 1'L , r ',.,b 7
PRESENTED BY Zr'.
if r t"' *` 4
S� ..
COMMISSIONER
DATE "• .
PvBusmD��
( WHE. A, The Council of the City of Saint Paul,
pursuant to the provisions of Ordinance No. 11575, adopted
by the Council-and approved by the Mayor October 1, 1959,
and ratified by the electors of the City of Saint Paul at
an election held November 3, 1959, did, by Resolution
C. F. No. 208077, approved July 12, 1962, authorize the
issuance and sale by said City of Saint Paul of $197509000
par value of the bonds of said City authorized to be issued
and sold by said City under and by virtue of said Ordinance
PTo. 11575, for the procurement by said City of additional
funds in the sum of $1,750,000 necessary for the purpose of
said City's acquisition of funds necessary for its accomplish-
ment of several essential parts of several of the improvement
purposes for which such bonds, as aforesaid, were authorized
to be issued and sold, to -wit:
"For the purpose of acquiring school sites
and grounds, and constructing and equipping of,
new school buildings and additions to existing
school buildings, and for the purpose of the
reconstruction, repair, betterment, remodeling
and equipping of existing school buildings."
said bonds being designated as "City of Saint Paul School
Improvement Bonds, Series-1962 C "; and
WHEREAS, Chapter 475, Minnesota Statutes 1957, as
amended, provides that the governing body of any municipality
issuing general obligations shall, prior to the delivery of
the obligations, levy by resolution a direct general ad
valorem tax upon all taxable property in the municipality,
to be spread upon the tax rolls for each year of, the term
of the obligations, and said law also provides that the
tax levies for all years shall be specified and..such that
COUNCILMEN
Yeas Nays
Adopted by the Council 19—
Dalglish `
Holland proved 19-
. _ Loss �
Tn Favor F
Mortinson
Peterson Mayor
Rosen Against
Mr. President, Vavoulis
10M 8-02
208757
-1-2 -
if collected in full they, together with estimated collec-
tions of special assessments and other revenues pledged
for the payment of said obligations, will produce at
least five per cent (5 %) in excess of the amounts needed
to meet, when due, theprincipal and interest payments
on the obligations, and said law further provides that
said resolution shall create a separate sinking fund, or a
special account in the municipality's regular sinking fund,
for each issue of obligations, and shall irrevocably appro-
priate the taxes so levied and any special assessments or
other revenue so pledged to that fund or account; now,
therefore, be it
RESOLVED, That for the purpose of providing for
the payment of the principal and interest upon the said
$197509000 in bonds so issued and sold, when and as the
same mature, and for an additional direct tax in an amount
not less than 5% in excess of the sum required to pay such
principal and interest when the same mature, there is hereby
levied on all of the taxable property in the City of Saint
Paul, in addition to all other taxes, a tax for the payment
of said $1,750,000 of bonds, the following direct annual
irrevocable taxes, to -wit:
3 — TAR REQUIRED BY
CHAPTER 475, LAWS
OF MINNESOTA 1957,
AS AMENDED 5% IN
BUDGET TAX FOR TAX FOR EXCESS OF PRINCIPAL TOTAL
YEAR PRINCIPAL INTEREST AND INTEREST TAR
1963
562,875.00-
2,843.75
59,718.75•
1964
56.%-875.00.
2,843.75
59,718.75-
1965.
30,000.00,
56,875.00•
4t�3Q�:39 -<
91,218.75
1966
30,000.00•
55,900.00-
4,295.00,
90,195.00,
1967 •
'- 30,000.00-
54,925.00-
4, 246.25 ,
89,171.25 -
1968,
30,000.00
53,.950.00-
4,197.50
88214.50
1969.
302000.00
523975.00-
4,148.75•
87,123.75
1970-
30,000.00,
52,000.00
49100.00
86,100.00•
1971-
302000.00.
512025.00-
43,051.25•
85,076.25•
1972•
5031000.00
50,050.00-
5,002.50•
105,052.50•
1973
50,000.00•
48,425.00-
49921.25•
103,346.25.
1974•
50,000.00
461800.00•
4,840.00
101,640.00-
1975.
502000.00
453,175.00-
4s758.75-
99,.933.75-
1976.
50,000.00
43,550.00-
43,677.50•
98,227.50-
1977.
50,000.00
41,925.00•
43,596.25•
965,521.25•
1978•
503,00000'
40,300.00-
4,515.00-
942815.00•
1979.
70,000.00
381675.00-
5,433.75•
114,108.75 -
1980.
70,000.00•
362400.00•
5,320.00-
111,720.00•
1981'
70,000.00
34,125.00•
5,206.25-
109,331.25•
1982-
702000.00•
31,850.00
5,092.50
106,942.50-
1983.
703000.00
29,575.00-
4,978.75
104,553.75 -'
1984•
70,000.00•
27,300.00•
4,865.00•
1022165.00•
1985•
702000.00•
25,025.00-
4,751.25•
99,776.25-
1986.
1002000.00,
22,750.00-
63137.50•
12831887.50•
1987• •,
100,000.00,
19,500.00-
`' 53,975.00-
125,475.00,
1988.
100,.000.00•
161250.00
5,812.50•
1222062.50 ,
1989•
100,000.00
.13,000.00•
5,650.00•
118,650.00•
1990,
1002000.00,
9,750.00-
50487.50•
115,237.50-
1991,
100,000.00
6,500.00•
5,325.00-
111,825.00-
1992
100,000.00
322.50.00-
52162.50.
108,412.50 -
Tottals _ ' 8.1,750,000.00
121,5 75. 00
114
$ 3,015,153.75 –
' ORIGINAL TO CITY'CLERK
CITY OF ST. PAUL
FILE NO to
OFFICE OF THE CITY CLERK `I
COUNCIL RESOLUTION - GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
4
be it
FURTHER RESOLVED, That in the event any principal
and interest come due prior to the receipt of the proceeds
of said taxes, it shall be paid promptly when due, out of
the general fund of the said City of Saint Paul, and reim-
bursement therefor shall be made when said taxes shall have
been received; be it
FURTHER RESOLVED, That there shall be created a
separate sinking fund, or a special account in the sinking
fund, for said obligations and that the taxes received for
the payment thereof are hereby irrevocably appropriated to
said account, and that the City Clerk be and is hereby in-
structed to file in the office of the County Auditor of Ramsey
County a certified copy of this resolution, together with
full information regarding the bonds for which this tax is
levied, and the City Clerk is hereby ordered and directed
to secure from the County Auditor a certificate that he has
entered the obligations in the tax register as required under
the provisions of Chapter 475, Minnesota Statutes 1957, as
amended, and that the tax levy required for the purpose has
been made; be it
FURTHER RESOLVED, That before the said bonds shall
be delivered to the purchaser•., the Council of the City of
Saint Paul shall obtain from the County Auditor and deliver
to the purchaser a certificate of the County Auditor that
the issue has been entered on his register and that a tax
has been levied as required by law, in accordance with the
provisions of Chapter 475, Minnesota Statutes 1957, as
amended; be it
FURTHER RESOLVED, That such taxes shall be col-
lected and payment thereof enforced at the same time and
with and in like manner as other taxes of the City of
Saint Paul, and when collected shall be used solely for paying,, the
interest and principal of said bonds when and as the same shall mature
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Dalghsh
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10M 6-62
Tn Favor
A gainst
Approved 19—
Mayor
r ORIGINAL TO CITY CLERK
CITY OF ST. PAUL FIOENCIL NO.. _ `�.[�►
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
- 5 -
and be it
FURTHER RESOLVED, That in compliance with
and for the purposes specified by the pertinent pro-
visions of said Chapter ,475, Minnesota Statutes 1957,
as amended., 11x: *1 F`i!;- , said special sinking fund in the
nature of a special account in the regular Sinking
Fund of said City of Saint Paul, hereby is created.
COUNCILMEN
Yeas Nays
Dalghsh
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10M 6-62
I
Adopted by the Counci
A1 2 3W-
AUG 2 31922
19—
proved 19—
In Favor
(� Mayor
A gainst
STATE OF MINNESOTA ) CERTIFICATION AS TO TAX LEVY
(SS AND REGISTRY OF BONDS UPON
COUNTY OF RAMSEY ) COUNTY AUDITOR'S BOND REGISTER
1
I, the undersigned, being the duly qualified and acting County
Auditor, of Ramsey County, do hereby certify that there was filed in my
office on the 24th day of August, 19629 a certified copy of Council
File No. 208787 adopted August 23, 19629 by the City Council of the
City of Saint Paul levying taxes for $19750,000.00 City of Saint Paul
Improvement Bonds Series 19621;,dated August 1, 19629 as the same fall
due and to pay and discharge the principal and interest thereof at
maturity.
It is further certified that pursuant to Section 475.63 Minnesota
Statutes Annotated that said bond issue has been entered and registered
upon the County Auditor's bond register File No. 385 and that such tax
for the payment thereof has been levied as required by law.
WITNESS, my hand and official seal this 29th day of August, 1962.
EUG MONICK, County Auditor
Entered in Bond Register this
28th day of August, 1962.
'62 AV G 30 F'H 12 17
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