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206943\CITY CLERK ?NTED BY MISSION CITY OF ST. PAUL OFFICE OF THE CITY CLERK CO_UNM RESOLUTION - GENERAL FORM A 4eD COUNCIL N , FILE — RESOLVED, by the Council of the City of Saint Paul, treat this Council does hereby concur in each and all of the terms ana provisions of Resolution No. 171 adopted by the Port Authority of the City of Saint Paul, dated April 25, 1962, entitled, "Resolution Awarding Sale of $2,500,000 General Improvement Bonds, Series B, 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 B, in the amount of $2,500,000 dated April 1, 1962, as specified in said resolution, 'and in the years and amounts 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. Council File No. 206943 —By Bernard T. Holland —Robert F. Peterson— Resolved, By the Council of i City of Saint Paul, that this •Cour does hereby concur in each )f the terms and prov'sl,ns a ion No. 171, adoppt,% Mtl,ority io° he C-+ ,r b, E5 ' COUNCILMEN Yeas Nays DeCourcy Holland Loss Mortinson Peterson Rosen Mr. President, Vavoulis BM "I j Ir ADR 2 6 1%2 Adopted by the Council 19— APR 26 1952. Approved 19— Mayor PUBLISHED DUPLICATE TO PRINTER 206943 CITY OF ST. PAUL COUNCIL NO. OFFICE OF THE CITY CLERK COUNCIL RESOLUTION - GENERAL FORM ` PRESENTED BY COMMISSIONER -DATA - 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 Pesolution No. 171 adopted by the Port Authority of the City of Saint Paul, dated April 25, 1962, entitled, "Resolution Awarding Sale of $205000000 General Improvement Bonds, Series B, Fixing the Interest Rates and Other Terms Thereof, and Levying and Approprjatine 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 B, in the amount of .12,500,000 dated April 1, 1962, as specified in said resolution, and in the years and amounts 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. COUNCILMEN Yeas Nays DeCourey Holland Loss Tn Favor Mortinson Peterson Against Rosen Mr. President, Vavoulis 5M 6-61 APR 2 6 1962 Adopted by the Council 19— APR 2 6 1962 Approved 19— Mayor QUADRUPLICATE TO DEPARTMENT 206943 • CITY OF ST. PAUL COUNCIL NO • OFFICE OF THE CITY CLERK FILE - PRESENTED BY COMMISSION COUNCIL RESOLUTION — GENERAL FORM P,;brt91; rD, by the Council of the City of Vaint PAulo that thi,e Council does hereby concur in each and all of the to:7e* and provisions of ;•erolution No. 171 &dopted. by tho :'ort Authority of the City of V aint Paul, ested April 25, 1962, entitled, "Pecolution Awardirkq "ale of ti2,5CO,O00 General Improvement Bonds, Parias R, Fixing the Interest Pateg and Other Terne. Thereof, rnd LeVirp and Appropri stint* A axes for the Payment of PrIncip:il and Intereet Tbereon ", a copy of vhich has been certified to the Council by the �eer6tuxry° of the Port Authority and is .now on file in the V ice of the City Clerk ant!, by rrference, Incorporgted hr-rein Rnd mtde part and p *reel hereof, and the Council .specifically, but without limitation, concurs in the sword of axlo of boreal interest rater•;, d ite, cdenomin;rtionr;, place of p.Wment, form ane dot. -ils of the Port ,Authoritys a General Improvement 1�ondn., 'cries B. in the amount of t2,500,000 eated April 1, 1962, na specified In noid resolution, :and in the yeprs and smounte epecif3ed for the taxes levied for the payment of acid bonds, and doers hereby find, deterr,ne and dccicre that R11 such provisions are in accord nco with Orei.n: Baca 'No. 1,1(4- of tbc, City of Saint Paul, idopted Knrch 13, 196 , rnc' are hereby aa_pprovod, ratified and conftrmeO. COUNCILMEN Yeas Nays DeCourcy Holland Loss Mortinson Peterson Rosen Mr. President, Vavoulis 5M 6_61 Tn Favor A gainst APR 2 6 WZ Adopted by the Council 19— APR 2 6 1962 Approved 19— Mayor l P O R T A U T H O R I T Y OF THE CITY OF SAINT PAUL 6 0 E A S T F O U R T H S T R E E T SAINT PAUL I, MINNESOTA - 224 -5666 April 24, 1962 FRANK D. MARZITELLI EXECUTIVE VICE PRESIDENT LYLE E. KINVIG GENERAL MANAGER Mrs. Agnes O'Connell FRANK E. CLAWSON DIRECTOR City Clerk INDUSTRIAL DEVELOPMENT City of Saint Paul DALE D. BRADDOCK City Hall and Court House CHIEF ENGINEER Saint Paul 2, Minnesota PHILIP W. FITZPATRICK CONSULTANT Dear Mrs. O'Connell: COMMISSIONERS There is attached hereto a certified copy of an PHILIP H. NASON extract of the minutes of the Special Meeting of PRESIDENT the Port Authority of the City of Saint Paul held RICHARD C. RADMAN April 25, 1962 together with a - certified copy of VICE PRESIDENT Resolution No. 171 adopted at that meeting. ROBERT W JOHNSON • I SECRETARY It is requested that you kindly place these NEIL H GRIEBENOW documents on file and of record in your office. TREASURER ALBERT J BRAND Very truly yours, BERNARD T HOLLAND ROBERT F. PETERSON - v W. Fi zpatrick Consultant LEGISLATIVE ADFISORS H. W SCHULTZ flT F:js STATE SENATOR ��YYYY D. D. WOZNIAK 7' STATE REPRESENTATIVE cc: Mr. Louis P. Sheahan Mr. Arthur B. Whitney, Jr. Cn fV _0 Fri N �1 — r' � r r cn -c m C� Q s -I c� � ca L' Extract of Minutes of Special Meeting Port Authority of the City of Saint Paul Saint Paul, Minnesota April 25, 1962 Pursuant to due call and notice thereof, a special meeting of the Port Authority of the City of Saint Paul was held at the Port Authority Offices, 60 East Fourth Street, Saint Paul 1, Minnesota, on Wednesday, April 25, 1962, at 2:00 o'clock P.M9o, Central Standard Time. The following Commissioners were present: Peterson, Holland, Brand, Johnson, Griebenow and Radman. and the following were absent: P.H. Nason * * 0 oo� o�rse The Treasurer of the Port Authority presented affidavits showing publication of the official advertisement of notice of sale of $2,500,000 General Improvement Bonds, Series B, as directed at the Port Authority's meeting January 23, 1962; which affidavits were examined and found satisfactory and directed to be placed on file in the office of the Secretary. The Treasurer reported that 15 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 tab- ulation thereof. After examination and consideration of the bids by the Port Authority, introduced the following resolution and moved its adoption: RESOLUTION AVIARDING SALE OLD $2,500,000 GENERAL IMIPROVEMT BONDS, SERVES B, FIXING THE XNTEREST RATES AND OTHER TERMS THEREOF, AND LEVYING AND APPROPRIATING TAXES FOR THE PAST OF PRINCIPAL AND INTEREST THEREON -I- The motion for the adoption of the resolution, which was given the No. 171, was duly seconded by Comm. Brand , and upon vote being taken thereon, the following voted in favor thereof: Peterson, Holland, Brand, Johnson, Griebenow and Radman. and the following voted against the same: None. whereupon said Resolution No. 171 %ms declared duly passed and adopted. STATE OF MMOTA) GB. COMM OF REY 1, 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 foregoing is a full, true and correct transakpt of the minutes of a meeting of said Port Authority duly called and held` oin April 25, 1962, so far as such minutes relate to $2,500,000 General Improvement Bonds, Series B of said Authority; and that also attached hereto is a full, true and correct copy of the resolution adopted by the Port Authority as indicated in said minutes, relating.to said bonds. WEIVESS my hand and the seal of the Port Authority this 2Sth day of April, 1962. Se tai.. (SF L) -2- r 1 . Resolution No. 171 �! April 25, 1962 RESOLUTION AWARDING SALE. OF '�2, 500, 000 GMERAL IMPROVEMM BONDS 8 SERIES S % MING THE INTEREST RATES AND OTHER TEt R'6 THEREOF 9 AND LEWING • APPROPRIATING TAXES FOR THE PAY14MT OF PRINCIPAL AND MEREST THEREON BE IT RESOLD BY THE PORT AMORITY OF THE CITY OF SAINT PAUL 1, Under and pumuant to Resolution No. 159 adopted by the Port Authority on 'Januaiml 23, 1062, and Ordinanca No. 12166 of the City of Saint Paul adopted by the City Council an March 13, 1962, and the pertinent provisions of Minnesota Statutes, as amended, including Section 458.193 and Chapter 475, the Port Authority has provided for public sale of $2,500,000 General Improvement Fonds, Series B, and has caused notice of the time and the place for the receiving of the bids to be published not lees than two weeks before the date of receiving bids, and has con- sidered iil bids received pursuant to the-published notice, and does hereby find and determine that the highest and beat of such bids is that of galoey, Stuart & Co. of New York City, Teti York and of Chicage, Illinois , and associates named therein, to purchase the bonds at a price of par plus ac6A%ed interest to the date of delivery thereof, plus a premium of $ 125.00 , and bearing interest at the respective rates stated below, and subject to the further term and conditions started in this resolution and in said Ordinance No. 121660 The sale of the bonds is hereby awarded to said bidder, provided thdt the Seeretary.shall forthwith present this resolution to the City Council of the City of Saint Fatal., for approoval of the re- maining provisions of the bonds herein stated which rewire such approval under lair, other than those established by said ordinance, and aft" such approval the President and Seerdtary stall make and execute' on the paint of the Part Authority a contract for sale of .the bonds upon those terms. The good falth check furnished by the successful bidden shall be retained by the Treasurer of the Pork Authority until the bonds have been delivered and bAymnt has been made .in full, and the Treasurer shall return: the checks of other bidders forthwith. 20. Said General Improvewnt Bonds, Series D Ohal.l now be issued and de- livered in the aggregate principal amriunt of . $2, 500,, 000 and in the denomination of $5,000.00 .q . , payable to bearer, shall be . SOO irra numbers. and a,umberred from 1 to 500 • inclusive, stall be stated as' of April 1, 1962, and shall mature serially, lowest numbers first, can April 1 in ;the gears and amounts as follows, beaming In- terest at the respective annual rates stated opposite ilheir maturity years and amounts o. Interest Pate 2.90% 2.90% 2.9m 2.90% 2.90% 2.90% 2.90% 2.90% 3.0090 8.00% 3.00% 3.00% 3.00% 3.00% Intekest Year ,mount late Year Amount 1965 $ 50,000 2.75% 1979 90,000 1966 "60,000 2.75% 1980 90,000 1967 60,000 11.75% 1981 90,000 1968 60,000 2o759, = 1982 100,000 1969 -60,000 e. 1983 100,000 1970 60,000 2.75% 1984 100,000 1971 70,000 2.75% 1985 110,000 1972 709000 2.75% 1986 110,000 1973 70,000 2.90% 1987 120,000 1974 • 70,000 2.90% 1988 120,000 1975 80,000 2.90% 1989 120,000 1976 80,000 2.90% 1990 130,000 1977 80,000 2•90% 1991 130,000 1978 80,000 2.90% -1- 1992 140,000 Interest Pate 2.90% 2.90% 2.9m 2.90% 2.90% 2.90% 2.90% 2.90% 3.0090 8.00% 3.00% 3.00% 3.00% 3.00% u The bonds maturing 1� the years 1983 through 1992 shall each be subject to re- demption and prepayment, at the option of the Port Authority, on April 1, 19829 and on any interest payment date thereafter, at a price of par and accrued in- terest 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 ham for the purpose of mailing such notices. The interest on the bonds shall be payable semiannually on April 1 and October 1 In each year, commencing October 1, 1962, and botch principal and interest shall be payable at Central National Dwml in Chicago, in Chicago, Illinois, and the Port Authority 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. 12166, and when so prepared shall be executed by the lithographed facsimile .signature of the President of the Port Authority, countersigned by the lithographed facsimile signature of the Treasurer, attested by the manual signature of the SecretAry, and sealed with a lithographed facsimile of the offiolal 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' he 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 bonda 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 purghass 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 Authority, and shall be used solely for "the purpose for which the bonds were authorized as stated in Ordiaiance No. 12166, including the payment and redemption of the General Obligations Pond Anticipation Notes in the amount of $650,000 dated as of'May 1, 1962 with accrued 3ntemst on such notes to the date of such payments. When paid notes have been paid, the same shall be forc�thwith canceled. 4. .Ini accordance with said ordinance and laws, there is hereby, levied for each yearP, until the principal and intemst of the bonds are paid In fulls a direct, amal, ad valorm tax on all the taxable property in the City of Saint Paid, 'not less than five per cent in excess of the sums required to pay the principal and Interest thereof when and as such prinolyal and interest mature. Such tax shall be extended upon the tax rolls of the following years, in not less than the aunt stated below for each such year, collectible In the respective ensuing years: Year Amount Year 1962 $152,3001968 1963 128,700 1969' ;1964 137,700 1970 1965 1369Q00 1971 1966 1340200 1967 132,500 Amount Year $130,800 1972 .139,500 1973 137,500 1974 135,500 1975 1976 1977 Amantt Year $143,900 1978 141,7Q0 1979 1399300 1980 136,900 1981 134,1400 142,500 -2- Amount Year $139,800•1982. 137,000 1983 1 "­,Boo 1984 141.,700-1985 1986 1987 Amount Year Amount $138,700 1988 $149,100 146,300 1989 145,000 142,800 1990 151,400 150,000 146,200 142,400 - to After 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 collection of such tax. The Secretary shall forthwith furnish to the County Auditor of Ramsey County a certified copy of this resolution and of the resolution of the City Council of Saint Pawl concurring herein, together with fall information re- garding the bonds for which the tags is levied, and the tax shall there be extended and assessed and the proceeds thereof accounted for as provided in said Ordinance 12166. 5. The President, Secretary, Treasurer and other officers of the Port Authority and the officers of the City of Saint Paul are authorized and requested to furnish to the purchaser of the bonds, and to the attorneys approving the legality thereof, certified copies of all ordinances, resolutions and other actions and proceedings taken by the City and Port Authority with reference to the authori- zation, isisuance, sale and delivery of the bonds, and such certificates or affidavits as to other matters appearing in their official records or otherwise known to them, as may reasonably be required to evidence the validity and marketability of the bonds; and all certified copies, certificates and affidavits so furnished, including any heretofore furnished, shell be deed representations of the Port Authority as to the correctness of all facts and the taking of all actions stated or recited therein. 6. Pu=, %uasnt to the specific authorization contained in said Ordinance No. 12166 of the City of Saint Paul., the full faith, credit and resources of said City, as well as those of the Port Authority of the City of Saint Paul, are hereby pledged for the prompt and full payment of the- principal of and inteacesst on the bonds herein authorized as such principal and interest becom due. In the event that the collections of the tax herein authorized should at any time be insufficient for the paymnt of such principal or Interest, the Port Authority is authorized and obligated under Hirnnesota Statutes, Sections E475.61 and 416.74 to levy additional tastes upon all the taxable property within the City to mace good such deficiency, which levies may be made without limitation as to rate or amount. Attest: C5) 030 Adopted April 25, 1962. A�� M____ President, Fort Authority