08-1083Council File # b�
Green Sheet # 3059735
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RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
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WHEREAS, the City Council (the "City Council") of the City o£ Saint Paul (the "City") approved
CF 08-425 that authorized executing a 10 year lease for the Department of Safety and Inspections ("DSI")
for the 375 Jackson Street Building (Floors 2 and 3) (the `Building"); and
WHEREAS, CF 08-600 directed OFS staff to arrange tax-exempt financing for $1,500,000 for
remodeling, moving, office equipment, and cost of issuance relating to the improvements that will be
constructed for the benefit of the City in the Building (the "ProjecY'); and
4VHEREAS, the City Debt Manager recommends proceeding to issue a Taxable General
Obligarion Public Safety Note (DSI Project), Series 2008 (the "Note"), in an onginal aggregate principal
amount of up to $1,500,000, pursuant to the provisions of Minnesota Statutes, Section 475.521, as
amended (the "AcY') in order to finance the Project; and
WHEREAS, the Act was adopted in 2003 and permits the City to issue general obligation bonds
or othec obligations without an election in accordance with a capital unprovement plan adopted under the
Act; and
WIIERAS, Springsted Incorporated, as financial advisor to the City, has advised the City that the
Note would receive an mveshnent grade credit rating if the City applied for such a rating with respect to
the Note because the Note is a general obligation of the Ciry and the credit rating of the City for the City's
long-term general obligation bonds is currently AAA by Standard & Poor's and Aa2 by Moody's
Investoxs Service; and
WHEREAS, because the Note would qualify for a high investment grade credit rating the Note
qualifies under the provisions of Mimiesota Statutes, Section 118A, to be purchased by the City Treasurer
as an inveshnent in the City's Inveshnent Pool with a term of ten years or less; and
WHEREAS, the Act requires that the City take certain procedural steps priar to issuance of the
Note, including holding a public hearing with respect to an amendment to the City's annual capital
improvements plan and the issuance of the Note; and
WHEREAS, the City annually adopts a Capital Improvement Budget and Progam (the
"Program") in accordance with a local law, being Laws of Minnesota for 1474, Chapter 351, as amended
(the "Loca1 Law"); and
WHEREAS, the City's Program comprehensively addresses capital improvements and factors
relaring thereto over a five year period, but does not necessarily address for each improvement all of the
eight factors required by the Act to be considered; and
1 A RESOLUTION AUTHORIZING THE ISSUANCE OF A TAXABLE GENERAL OBLIGATION
2 PUBLIC SAFETY NOTE (DSI PR07ECT) SERIES 2008; FIXING ITS FORM AND
3 SPECIFICATIONS; DIRECTING ITS EXECUTION AND DELIVERY; AND PROVIDING FOR ITS
4 PAYMENT
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VJFIEREAS, as an aspect of its Progam, the City has addressed in a portion thereof entitled
"Minnesota Statutes 475.521 Special Purpose Plan" (the "Special Purpose Plan") all the factors required
by the Act to be considered for capital improvements, such as the Project, which are financed by bonds or
other debt obligarions issued by the City pwsuant to the Act; and
4VAEREAS, after review and recommendarion by the CIB Committee on September 8, 2008 and
subject to final approval on October l, 2008 after a public hearing, the City Council of the City proposes
to issue the Note and adopt an amendment to its Special Purpose Plan as a capital improvement plan
under the Act, which names the Project as a capiial improvement project; and
WHEREAS, pursuant to CF 08-985, the City preliminarily authorized the issuance of the Note
and an amendment to the Special Purpose Plan with respect to the Project; and
WHEREAS, a public hearing on the intention to issue the Note and on the proposed amendment
to the Special Purpose Plan was held by this City Council on the date hereof priar to consideration of this
resolurion; and
WHEREAS, the City staff previously published, in accordance with the Act, the public hearing
norice with respect to the intention of the Ciry to issue the Note and adopt the Plan as an amendment to a
Special Purpose Plan;and
WHEREAS, the Note will be sold to the City Treasurer in arder to reduce costs of issuance.
BE IT RESOLVED By the Ciry Council of the City of Saint PauJ, Ramsey County, Minnesota
(the "City") as follows:
Secrion 1. Backeround and Issuance of the Note.
1.01. 5tatutory Authorization and Requirements of the Act. The Ciry is authorized by the Act
to finance certain capital improvements under an approved capital improvement plan by the issuance of
general obligation bonds of the City payable from ad valorem taYes. The Ciry annually adopts the
Program in accordance with the Local Law. The Act was adopted in 2003 and permits the City to issue
general obligarion bonds without an election in accordance with a capital improvement plan adopted
under the Act. The City's Program comprehensively addtesses capital improvements and factors relating
thereto over a ftve year period, but does not necessarily address for each improvement all of the eight
factors required by the Act to be considered. As an aspect of its Program relaring to the Project, the City
will address in a portion thereof in an amendment to the Special Purpose Plan in which all the factors
required by the Act are considered for the Project.
Pursuant to the Act, bcfore issuance of any bonds or other obligarions p�suant to the Act, the
City is required to hold a public hearing to obtain public comment on the proposed issuance of such
obligarions such as the Note. A nofice of the public hearing must be published at least fourteen (14) days
but not more than twenty-eight (28) days priar to the date of the public hearing in the official newspaper
of the City or in a newspapex of general circulation in the City.
The City held a public hearing for the Note and the amendment to the Special Purpose Plan
relating to the Project on the date hereof, after proper notice was given far such hearing. Pissuant to the
Act, the City must hold a special election prior to the issuance of the Bonds and seek the approval of the
voters of the City if a petition requesring a vote on the issuance is signed by voters equal to five percent
(5%) of the votes cast in the last general eleation in the City and such getition is filed with the City Clerk
within thirty (30) days from the date hereof. Provided that the City Clerk does not receive any such
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petirion within thirty (30) days of the public hearing on the date hereof, the Ciry is not required to hold a
special election on the issuance and sale of the Note if the City Clerk has not received any petition with
respect to the Note.
1.02. Issuance and Sale of the Note. The issuance, sale and delivery of the Note pursuant to
the Act are hereby approved by the City. The purchase of the Note by the City Treasurer is authorized.
The City Council waives the City Investment Policy to allow the City Treasurer to purchase the Note.
1.03. Sroecial Purpose Plan Amendment. On the date hereof, the City held a public hearing
regarding the amendment to the Special Pwpose Plan relating to the Project and the issuance of the Note,
all in accordance with the Act. The amendment to the Special Purpose Plan authorizes issuance of the
Note to pay the cost of the Project and the costs of issuance for the Note.
1.04. General Terxns of the Note. The Note is being placed with the City Treasurer. The City
Treasurer and the City Debt Manager aze authorized to determine the interest rate of the Note, with an
intezest rate of appro�mately 510 to 5.50 percent, depending upon the Yhen current market condihons in
November. The term of the Note shall be not more than 10 years from its date of issuance. The Note is
subject to opfional redemption on any date. The principal of the Note shall be paid on November 1 of
each year, commencing Novembei 1, 2009, as set forth in the Note. The Note shall be dated as of the
date of issuance, is authorized to be issued in the origina] aggregate principal amount not to exceed
$1,500,000 or such lesser or greater amount as the City Treasurer shall determine to be necessary and
appropriate to finance the costs for which the Note is to be issued. The Mayor and the City Clerk are
hereby authorized to execute the Note on behalf of the City.
1.Q5. Findin�s Itey.azdin¢ Limitarions Set Forth in the Act. The City Council hereby finds and
determines that (i) the expected useful life of the improvements comprising the Project wi11 be at least
five (� years, and (n) the maeimum amount o£principal and interest to become due in any year on all the
outstanding bonds (including the Note) issued by the City pursuant to the Act will not exceed .16°l0 of the
taxable market value of properiy in the City far the taxes payable year in 2008.
Section 2. Reeistrarion and Payment.
2.01. Reeistered Form. The Note will be issued only in fully registered form. The interest
thereon and, upon surrender of each Note, the principal amount thereof is payable by check or draft issued
by the Registrar described herein.
2.02. Dates; Interest Payment Dates. The Note will be dated as of the date of original issue.
The interest on the Note is payable on annually on November 1 of each yeaz, commencing November 1,
2009, to the registered owners of record thereaf as of the close of business on the fifteenth (15�`) day of
the immediately preceding month, whether or not such day is a business day.
2.03. Reeistration. The City will appoint a bond regisffar, transfer agent, authenricafing agent and
paying agent (the "Registraz" and the "Paying AgenY') for the Note. The effect of registrarion and the
rights and duties of the City and the Registrar with respect thereto are as follows:
(a) Reeister. The Registrar must keep at its principal office a bond register in which
the Registrar provides for the registrarion of ownership of the Note and the regtstration of
transfers and exchanges of the Note entitled to be registered, transferred or exchanged.
(b) Transfer of Note. Upon surrender for h ansfer of a Note duly endorsed by the
registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory
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to the Registrar, duly executed by the registered owner thereof or by an attomey duly authorized
by the registered owner in wriring, the Regi strar will authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Note of a like aggregate principal amount
and maturity, as requested by the transferor. The Registrar may, however, close the books for
registration of any transfer after the fifteenth day of the month preceding each interest payment
date and until that interest paysnent date.
(c) Exchange of the Note. When the Note is surrendered by the registered owner for
exchange, the Registrar will authenticate and deliver one or more new Notes of a like ag�egate
principal amount and maturity as requested by the registered owner or the owner's attomey in
writing.
(d) Cancellation. Notes surrendered upon transfer or exchange will be promptly
cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When a Note is presented to the Regisirar
for transfer, the Registraz may refuse to transfer the Note until the Registrar is satisfied that the
endorsement on the Note or sepazate instrument of h�ansfer is valid and genuine and that the
requested transfer is ]egally authorized. The Registrar will incur no liability foz the refusal, in
good faith, to make transfers which it, in its judgment, deems improper or unauthorized.
( fl Persons Deemed Owners. The City and the Registrar may treat the person in
whose name a Note is registered in the bond register as the absolute owner of the Note, whether
the Note is overdue or not, for the purpose of receiving payment of, or on account of, thz
principal of and interest on the Note and for all other purposes, and payments so made to a
registered owner or upon the owner's order will be valid and effectual to safisfy and discharge the
liability upon the Note to the extent of the sum or sums so paid.
(g) Taxes, Fees and Char¢es. The Registrar may impose a charge upon the owner
thereof for a transfer or exchange of Note sufficient to reimburse the Registrar for any ta�c, fee or
other governmental charge required to be paid with respect to the iransfer or exchange.
(h) Murilated, Lost, Stolen or Destroyed Note. If a Note becomes mutilated or is
destroyed, stolen or lost, the Registrar will delaver a new Note of like amount, nusnber, maturiry
date and tenor in exchange and substiturion for and upon cancellarion of the mutilated Note or in
lieu of and in substiturion for any Note destroyed, stolen or lost, upon the payment of the
reasonable expenses and chazges of the Registrar in connection therewith; and, in the case of a
Note desfroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the
Note was destroyed, stolen or lost, and of the ownership thereof, and upon fumishing to the
Registrar an appropriate Nate or indemnity in form, substance and amount sahsfactory to it and as
provided by law, in wMch both the City and the Registrar must be named as obligees. Notes so
surrendered to the Registrar will be cancelled by the Registrar and evidence of such cancellation
will be given to the Clty. If the muhlated, destroyed, stolen or Iost Note has already matured or
been called for redemption in accordance with its terms it is not necessary to issue a new Note
prior to payment.
(i) Redem to ion. In the event any of the Notes are called for redemprion, notice
thereof idenhfying the Note to be redeemed will be given by the Registrar by xnailing a copy of
the redemption notice by first class mail (postage prepaid) to the re�stered owner of each Note to
be Ledeemed at the address shown on the registration books kept by the Registtar and by
publishing the norice if required by law. Failure to give norice by publication or by mail to any
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registered owner, or any defect therein, will not affect the validity of the proceedings for the
redemption of Note. Notes so called for redemption will cease to bear interest after the specified
redemprion date, provided that the funds for the redemprion are on deposit with the place of
payment at that rime.
2.04. Appoinhnent of Initial Re¢istrar. The City appoints the Ciry Treasurer, as the initial
Registrar.
2.05. Execution, Authentication and Deliverv. The Note will be prepared under the direcrion
of the City Treasurer and City Debt Manager and executed on behalf of the City by the signatures of the
Mayor, or his designee, and the City Clerk, provided that all signatures may be printed, engraved, or
lithographed facsimiles of the originals. If an officer whose signature or a facsimile of whose signahue
appears on the Note ceases to be such officer before the delivery of any Note, that signature or facsimile
will nevertheless be valid and sufficient for all purposes, the same as if the officer had remained m office
until delivery. Notwithstanding such execurion, a Note will not be valid or obligatory for any purpose or
enfitled to any security or benefit under this ResoluUOn unless and until a certificate of authenticarion on
such Note has been duly executed by the manual signature of an authorized representative of the
Registrar. Certificates of authenricarion on different notes need not be signed by the same representative.
The executed certificate of authenrication on a Note is conclusive evidence that it has been authenticated
and delivered under this Resolution. When the Note have been so prepared, executed, and authenficated,
the Ciry Debt Manager will deliver the same to the Purchaser upon payment of the purchase price in
accordance with the contract of sale heretofore made and executed, and the Purchaser is not obligated to
see to the application of the pwchase price.
2.06. Tem�orarv Note. The City may elect to deliver, in lieu of printed definitive Note, one or
more typewritten temporary Note in substanrially the form set forth in E�ibit A with such changes as
may be necessary to reflect more than one maturity in a single temporary Note. Upon the execution and
delivery of definitive Note, the temporary Note will be exchanged therefor and cancelled.
Section 3. Forni of the Note
3.01. Prinfing of Note. All of the provisions of the Note, when executed as authorized herein,
shall be deemed to be a part ofthis Resolufion as fully and to the same extent as if incorporated verbarim
herein and shall be in full force and effect from the date of execution and delivery thereof. The Note shall
be substanfially in the foim attached to this Resolution as Exhibit A, which form is hereby approved, with
such necessary and appropriate variarions, omissions and insertions (including changes to the aggregate
principal amount of each series of the Note, the stated maturities of the Note, the interest rates on the
Note, the terms of redemption of the Note, and variation from City policies regarding methods of offering
general obligation bonds) as the Ciry Treasurer and the Ciry Debt Manager, in their discretion, shall
determine. The execution of the Note with the manual or facsimile signatures of the Mayor, or his
designee, and the City Clerk, as authorized pursuant to Secrion 2.05, and the delivery of the Note by the
City shall be conclusive evidence of such determinafion.
3.02. Approvina Lesal Opinion. The City Debt Manager is authorized and directed to obtain a
copy of the proposed approving lega] opinion of Kennedy & Graven, Chartered, Saint Paul, Minnesota,
which shall be complete except as to dating thereof and cause the opinion to accompany each Note.
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Secrion 4. Payment; Securitv; Pled¢es and Covenants.
4.01. Note Funds.
(a) Debt Service Fund. The Note shall be payable from the taxable Public Safety General
Obligarion (DSI Project), Series 2008 Debt Service Fund (the "DSI Note Debt Service Fund"), hereby
created, and the proceeds of ad valorem taxes hereinafter levied descrihed in the resolurion authorizing
the sale of the Note, aze hereby pledged to the DSI Note Debt Service Fund. If a payment of principal or
interest an the Note becomes due when there is not sufficient money in the DSI Note Debt Service Fund
to pay the same, the City Debt Manager will pay such principal or interest from the general fund of the
Ciry, and the general fund will be reimbursed for those advances out of the proceeds of the taxes levied by
this Resolurion, when collected. There is apgropriated to the DSI Note Debt Service Fund capitalized
interest, if any, to be financed from Note proceeds, in the amount determined by the City Debt Manager.
(b) Proiect Fund. The proceeds of the Note, less the appropriarions made in paragraph (a)
above, together with any other funds appropriated for the Project, will be deposited in a sepazate project
fund (the "DSI Project Fund") to be used solely to defray expenses of the Project. When the Project is
completed and the cost thereof paid, the DSI Project Fund is to be closed and any remaining balance
therein transferred to the DSI Note Debt Service Fund.
4.02. Filin¢ of Resolution. The City Debt Manager is authori2ed and directed to file a certified
copy of this Resolufion with the Ramsey County Auditor and to obtain the certificate required by
Minnesota Statutes, Section 475.63, as amended.
4.03. Pledqe of Tax Lew. For the purpose of paying the principal of and interest on the Note,
there is levied a direct annual irrepealable ad valorem tax (the "Tae") upon all of the taYable properiy in
the City, to be spread upon the tac rolls and collected with and as part of other general tases of the City.
The Taac will be credited to the DSI Note Debt Service Fund above provided and sha11 be established by
officials of the City after the awazd of the Note and determination of the interest rates on the Note. The
Tax shall be levied and collected in the years and in the amounts set forth in Exhibit B attached hereto.
4.04. Overlew Requirement. It is detennined that the esrimated collection of the foregoing
Tax will produce at least five percent (5%) in excess of the amount needed to meet when due, the
principal and interest payments on the Note. The Tax so levied herein will be inepealable until all of the
Note are paid, provided that at the rime the City makes its annual tas levies the CiTy Debt Manager may
certify to the Ramsey County Auditor the amount available in the DSI Note Debt Service Fund to pay
principal and interest due during the ensuing year, and the City will thereupon reduce the levy collectible
during such yeaz by the amount so certified.
Section 5. Authenticarion of Transcrint.
5.01. Furnishin� of Documents. The officers of the City are authorized and directed to prepaze
and fumish to the Purchasex and Kennedy & Graven, Chartered, as bond counsel to the City, certified
copies of pxoceedings and records of the City relating to the Note and to the financial condition and
affairs of the Ciry, and such other certificates, affidavits and transcripts as may be required to show the
facts within their lmowledge or as shown by the books and records in their custody and under their
control, relaring to the validity and marketability of the Note, and such instruments, including any
heretofore furnished, will be deemed representations of the City as to the facts stated therein.
Secrion 6. Defeasance. When all Note and all interest thereon have been dischazged as provided in
ttris secrion, all pledges, covenants and other rights granted by this Resolurion to the holders of the Note will
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cease, except that the pledge of the futl faith and credit of the City for the prompt and full payment of the
principal of and interest on the Note will remain in full force and effect. The City may discharge the Note on
any date by depositing with the Registrar on or before that date a sum sufficient for the payment, including
interest eamed thereon, in full of the Note. If any Note should not be paid when due, it may nevertheless be
discharged by deposiring with the Regsh a sum sufficient for the payment thereof in full with interest
accrued to the date of such deposit.
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Contact Person S Phone:
Bob Geurs
266-8837
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Doc. Type: RESOLUTION W!$ TRANSAC
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Document Con4ict: Bob Geurs
22SEP-08
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Resolurion authorizing the issuance of TaYable Public Safety General Obligation Notes (Public Safety DSI Project) Series 2008.
Ptanning Commission
CIB Committee
Civil Servtce Commission
1. Has this person/firm ever worked under a contract for this department?
Yes No
2. Has this personffirm ever been a city empioyee?
Yes No
3. Does this person/firm possess a skilf not nortnalry possessed by any
curtent aty employee?
Yes No
Exptain all yes answers on separate sh¢et and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
On September 10, 2008, Ciry Council, under CF 08-985 preliminarily approved taxable fmancing of $1.5 million for DSI lease at 375
Jackson Street after a public hearing on October 1, 2008.
Advantages If Approved:
City will have $1.5 million to complete remodeling and moving costs this fall for DSI.
DisadvantageslfApproved:
Taxable note is a general obligarion of the City
Disadvantages If Not Approved:
Will not have sufficient funds to complete requirements under the approved lease for ten years.
u Hmoun[ or
Transaction: $1,500,000.00
Funainy source: Taxable General Obiigalion
Financial lnformation: Note
(Explain)
Activity Number:
CosURevenue Budgeted: Y
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FOR'�I OF NOTE
130. R-1
LTNITED STA'I'ES OF AMERICA
STATE OF �NESOTA
COUNTY OF RAMSEY
$
CITY OF SAINT PAUL, MINNESOTA
TAXABLE GENERAI.OBLIGATIOlv Pi3BLIC SAFETY NOTE
(DSI PROJECT)
SERIES 2008
Date of Original
Tnterest Rate Maturity Date Issue
1, 2018 November _, 2008
Registered Owner: Saint Paul City Treasurer
Principal Amount:
DOLLARS
City of Saint Paul, Minnesota (the "City") aclmowledges itself to be indebted and for value
received hereby ptomises to pay to the Registered Owner specified above, or registered assigns, the
Principal Amount specified above, on the Maturity Date specified above, with interest thereon from the
date hereof at the annual rate specified above, payable annually on November 1 in each year,
commencing November 1, 2009, to the person in whose name this Note is registered at the close of
business on the fifteenth (15th) day (whether or not a business day) of the immediately preceding month.
The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable in
lawful money of the United 5tates of America by check or draft by the Saint Paul City Treasurer, as
Registrar, Paying Agent, Transfer Agent, and Authenticating Agent, or its designated successor under the
Resolurion described herein. Far the prompt and full payment of such principal and interest as the same
respectively become due, the full faith and credit and taxing powers of the City have been and are hereby
inevocably pledged. This Note is subject to optional redemption by the City on any date. The principal
of and interest due on this Note shall be paid on November 1 of each year, commencing November l,
2�09, as set forth in the schedule attached hereto as Schedule A.
This Note is one of an issue in the aggregate principal amount of $1,SOO,OQQ all of like oria nal
issue date and tenor, except as to number, maturity date, redemption privilege, and interest rate, all issued
pursuant to a resolurion adopted by the City Council on October l, 2008 (the "Resolution"), for the
putpose of providing money to defra� the expenses mcurted and to be incurred in making certain capital
improvements, pursuant to and in full con£ormity with the Constitution and laws of the State of
Minnesota, including Minnesota Statutes, Secrion 475.521, and the principal hereof and interest hereon
are payable from ad valorem taxes as set forth in the Resolution to which reference is made for a full
statement of ri�ts and powers thereby conferred. The full faith and credit of the City aze inevocably
pledged for payment of this Note and the City Council has obligated itself to levy additional ad valorem
taxes on all ta�able properry in the City to pay principal and interest on the Note, which taxes may be
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levied without limitarion as to rate or amount. The Note is issued as a fully registered Note in the
denominations of $5,000 or any integral multiple thereof of single maturities.
As provided in the Resolurion and subject to certain limitations set forth therein, this Note is
transferable upon the books of the City at the principal office of the Registraz, by the registered owner
hereof in person or by the owner's attomey duly authorized in writing, upon sunender hereof together
with a written instrLUnent of transfer satisfactory to the Registrar, duly executed by the registered owner
or the owner's attorney; and may also be surrendered in exchange for Note of other authorized
denominarions. Upon such transfer or exchange the City will cause a new Note or Note to be issued in
the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at
the same rate and mahu on the same date, subject to reimbursement for any tas, fee or governmental
charge required to be paid with respect to such transfer or exchange.
The City and the Registrar may deem and treat the person in whose name this Note is registered
as the absolute owner hereof, whether this Note is overdue or not, for the purpose of receiving payment
and for all other pwposes, and neither the City nor the Registrar will be affected by any notice to the
contrary.
This Note is not valid or obligatory for any purpose or entitled to any security or benefit under the
Resolurion until the Certificate of Authentication hereon has been executed by the Registrar by manual
signature of ane of its authorized representatives.
IT IS HEREBY CERTIFIED, RECTI'ED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitufion and laws of the State of Minnesota to be done, to exist,
to happen and to be performed preliminary to and in the issuance of this Note in order to make it a valid
and binding general obligation of the City in accordance with its terms, have been done, do exist, have
happened and have been performed as so required, and that the issuance of this Note does not cause the
indebtedness of the City to exceed any canstitutional or statutory limitation of indebtedness.
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A-2
b��l��
IN WITNESS WHEREOF, Ciry of Saint Paul, Minnesota, by its City Council, has caused this
Note to be executed on its behalf by the facsimile or manual signatures of the Mayor and City Clerk and
has caused this Note to be dated as of the date set forth below.
Dated: November � 2008
CITY OF SAINT PAUL, MINNESOTA
(facsnnile)
Mayor
(facsimile]
C�ty Clerk
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C•.�t3
�' � 6 ��
CERTIFICATE OF AUTHENTICATION
Tlus is one of the Notes delivered pursuant to the Resolution mentioned within.
THE CITY OF SAINT PAi3L, vIINNESOTA
By
Authorized Representative
ABBREVIATIONS
The following abbreviarions, when used in the inscription on the face of this Note, will be
construed as though they were written out in full according to applicable laws or regulations:
TEN COM -- as tenants in common
TEN ENT -- as tenants by entireties
i INIF GIFT MIN ACT
Custodlan
(Cust) (Minor)
under Uniform Gifts or Transfers to Minors
Act, State of
TT TEN -- as joint tenants with right of
survivorship and not as tenants in common
Additional abbreviations may also be used though not in the above list.
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�
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ASSIGI�TMENT
For value received,
the undersigned hereby
sells, assigns and transfers unto
the within Note and all rights thereunder, and does
hereby irrevocably consritute and appoint attorney to transfer the said
Note on the books kept for registration of the within Note, with full power of substiturion in the premises.
Dated:
Notice:
Signature Guaranteed:
The assignor's signature to this assignment must correspond with the name as it
appeazs upon the face of the within Note in every particular, without alteration or
any change whatever.
NOTICE: Signature(s) must be guaranteed by a financial insritution that is a member of the Securities
Transfer Agent Medallion Program ("STAMP"), the Stock Exchange Medallion Program ("SEMP"), the
New York Stock Exchange, Inc. Medallion Signatures Program ("MSP") or other such "signahxre
guazantee program" as may be deternuned by the Registrar in addirion to, or in substitution for, STAMP,
SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.
The Registrar will not effect iransfer of this Note unless the information conceming the assignee
requested below is provided.
Name and Address:
(Include information for all joint owners if this
Note is held by joint accoimt.)
Please insert social security or other identifying number of assignee
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A-5
PROVISIONS AS TO REGISTR ATION "`� ��
The ownership of the principal of and interest on the within Note has been registered on the
books of the Registrar in the name of the person last noted below.
Date of Regish
Registered Owner
Signature of Officer of the
Registrar
November _, 2008
CiTy of Saint Paul
Saint Paul, Minnesota
EIN: 41-6005521
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[�]
�� � ��
SCHEDTJLE A
NOTE PAYMENT SCHEDULE
Payment Date
November 1
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Payment Amount
!�l
E�IT B '^'/ � V b �
$1,500,000
City of Saint Paul, Minnesota
Taxable General Obligafion Public Safety Note
(DSI Project)
Series 2008
TAX LEVY
Levy Year Collection Year Amount
[TO BE COMPLETED BY CITY FINANCIAL STAFF]
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