208789Council File No. 208789 —By James J
l ORIGINAL TO CITY CLE91K i • N Dalglish—
CITY OJST. WHEREAS, The Counc il of the C1t3
of Saint Paul, pursuant to the provi•
OFFIC OF ions of Ordinance No: 12188, enacted
by the Council and approved by the
Mayor May 1L ;�,^ ;,, as amended by
COU IL S L Ordinance i.0 - }ta��• enacted by
yid r •nnc 1'i� Rt 1, .�., the
PRESENTED BY rte. o.q+t..nty �Epiyldld,
COMMISSIONER �D� �.
.s
208789
89
pVRLISMD9 •-22,5 n a
v WMMAS, The Council of the City of Saint Paul,
pursuant to the provisions of Ordinance No. 12188, enacted
by the Council and approved by the Mayor May 15, 1962, as
amended by Ordinance No. 12228, duly enacted by said
Council and approved by the Mayor of said City, July 5,
19629 did, by Resolution C. F. No. 207267, approved
May 17, 1962, as amended by said Council's subsequent
Resolution C. F. No. 207986, approved July 10, 1962, au-
thorize the issuance and sale by said City of Saint Paul
of $500,000 par value of the bonds of said City authorized
to be issued and sold by said City under and by virtue of
Chapter 543, Session Laws of Minnesota for 1961, for the
procurement by said City of funds in the sum of $5009000
necessary for payment by said City of Saint Paul of costs
and expenses fbrathe construction by and within the said
City of Saint Paul of Storm Water Relief Sewers to provide
.necessary storm water drainage for certain areas of said
City of Saint Paul and the contiguous City of West Saint'
Paul, under and pursuant to that certaiii, pertinent Agree-
ment by and between the said City of Saint Paul and said
City of West Saint Paul, authorized by said Chapter 543,
Session Laws of Minnesota J or 1961, dated the 8th day of
November, 1961, whereunder and whereby said City of Saint
Paul agreed to undertake the construction of such storm
water relief sewers and to pay the total cost- therefor
subject to reimbursement thereby, provided.to be made to "t
said City of Saint Paul by said City of West Saint Paul,
for the proportionate share of such total cost of such storm
water relief sewers and the subject construction project
embracing the same and thereby allocated to and provided to
be borne by said City of West Saint Paul, all in accordance
with the provisions, terms and conditions of said Chapter'
543, Session Laws of Minnesota for 1961, said bonds being
designated as "City, of Saint Paul Riverview Storm Sewer
Bonds, Series No. 1; "and
COUNCILMEN
Yeas Nays
Dalglish
Holland''
Loss
Tn Favor
Mortinson {
Peterson
Rosen
Against
Mr. President, Vavoulis
10M 8-82
' Adopted by the Council 19—
208789
- 2 -
WHEREAS, Chapter 4.75, Minnesota Statutes 1957,
as amended, provides that the governing body of any muni-
cipality 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 pro-
vides that the tax levies for all years shall be specified
and such that if collected in full they, together with
estimated collections 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, the principal 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 obligati,ons,. and shall irrevocably appropriate 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
$5009000 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 $500,000 of bonds, the following direct annual ir-
revocable taxes, to -wit:
Zm r
' TAR REQUIRED BY 2C
CHAPTER 475, LAWS
OF MINNESOTA, 1957,
AS AMENDED 5% IN
BUDGET TAX FOR TAX FOR EXCESS OF PRINCIPAL TOTAL
YEAR PRINCIPAL INTEREST AND INTEREST TAX
1963-
$
161250.00-
$ 812.50•
$ 1731062.50•
1964-
162250.00-
812.50•
17,062.50•
1965•
$10,000.00-
161250.00-
1,312.50-
27,562.50.
1966
10,000.00•
15,925.00-
1,296.25
27,221.25-
1967-
10,000.00
15,600.00-
11280.00-
26,880.00-
1968•
10,000.00•
153275.00 -
1,263.75•'
26,538.75-
1969•
10,000.00
141950.00-
1,247.50•
261197.50•
1970•
101000.00•
14,625.00•
1,231.25-
252856.25•
1971
10,000.00•
14,300.00-
1,215.00•
25,515.00'
1972,
15,000.00•
132975.00-
1,448.75-
30,423.75
1973
153000.00,
13,487.50-
12424.38'
29,911.88-
1974•
15,000.00•
13,000.00-
1,400.00•
295,400.00,
1975,
152000.00
122512.50-
1,375.62-
28,888.12,
1976-
15,000.00•
12,025.00-
1,351.25-
28,376.25-
1977
154000.00
111537.50•
11326.88'
a 27,864.38•
1978-
151000.00
113,050.00-
12302.50•
27,352.50'
1979-
20,000.00•
102562.50-
1,528.12•
322090.62•
1980-
20,000.00•
9,912.50•
1,495.63•
31,408.13•
1981•
201000.00'
9,262.50.
1,463.12•
305,725.62•
1982-
20,000.00•
8,.612.50•
1,430.63•
30,043.7.3
1983•
203,000.00•
71962.50•
1,398.12•
29,360.62
1984-
20,000.00•
7,312.50,
1,365.63-
28,678.13-
1985;�. r ,.
r., „„20- .- ODO.00 -_
-- 6,662.50--�;-
275,995':62 -
1986
- 25,000.00•
62012.50-
13,550.63-
32,563.13-
1987
t
25,000.00'
54200.00-
1,510.00
31,710.00•
1988•
25,.000.00•._
4,387.50-
1,469.37-
30,856.87•
1989•-
- 25;000.00• - 1
3,575.00
1,428.75,
30,003.75-
1990•
25,000.00-
2,762.50-
13,388.12•
29,150.62-
1991•
25,000.00'
1,950.00•
1,347.50'
282297.50•
1992,
35,000.00 •
11137.50-
12806.88
37,944.38
Totals
5002000.00
$3121325.001
$ 40,616.25\
$852,941.25'
1
Y
-4-
be it
208789
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 re-
imbursement 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 of said City, for said obligations and that the taxes
received for the payment thereof are hereby irrevocably ap-
propriated to said account, and that the City Clerk be and
is hereby instructed 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 4? 5, Minnesota
Statutes 1957, as amended, and that the tax levy required
for the purpose has been made; be it
FURTHER RESOLVED, That none of the proceeds of
any such bonds shall -be applied to the payment of any
costs of the aforesaid S torn Water Relief Sewer Construction
Project allocable to and to be borne by the City of West Saint
Paul pursuant to the aforesaid Agreement dated the 8th day
of November, 1961, and that the proceeds of said bonds shall
be applied solely to the payment of the proportionate share
of such cos -t,s to be borne by the City of Saint Paul and not
subject to reimbursement or repayment to said City of Saint
Paul by said City of West Saint Paul, pursuant to the afore-
said Agreement; 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
• ORIGINAL TO CITY CLERK' _20 ,89
CITY OF ST. PAUL COUNCIL NO.
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION - GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
- 5 -
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 4.75, Minnesota
Statutes 1957, as amended; be it
FURTHER RESOLVED, That such taxes shall be
collected 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; and be it
FURTHER RESOLVED, That- in compliance with and
for the purposes specified by the pertinent provisions
of said Chapter 4.75, Minnesota Statutes 1957, as amended,
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
Dalglish
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10M 8-82
Adopted by the CounclI'LG 2 3 19—
AUG 2 3 1962
pproved_ 19_
—fin Favor
Mayor
Against
0
STATE OF MINNESOTA ) CERTIFICATION AS TO TAX LEVY �I
(SS AND REGISTRY OF BONDS UPON Dd D�
COUNTY OF RAMSEY ) COUNTY AUDITOR'S BOND REGISTER
Iy 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. 208789 adopted August 239 19629 by the City Council of the
City of Saint Paul levying taxes for $500,000.00 City of Saint Paul
Riverview Storm Sewer Bonds, Series No. 1, dated August 1, 1962, 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 t.equired by law.
WITNESS, my hand and official seal this 29th day of August, 1962.
EUG A. MONICK, County Auditor
Entered in Bond Register this IFFILURD
28th day of August, 1962.
12:Ah0- 30 Pty IZ 19
CITY CLERrs of ic:.
5�1d ►PIL,L �.P.IN;dE a