08-1130Council Fite # 08-1131
Green Sheet # 3060458
RESOLUTION
CITY OF SAINT PAUL, MINtJESOTA �j �
Presentetl By:
Referted To:
Committee: �ate
� WHEREAS, the Department of Fire and Safety Services needs to increase the budget for the StaUon 1 and 10 and
2 Headquarters project in anticipation of the funding needed to start construction by the target date of November 2005 to stay
3 on track to meet the compfetion deadtine o4 December 2009, and
5 WHEREAS, the proposed staR date for the construction of the new fire station was to begin in January 2009 but now it will
6 begin in November 2008, and
8 WHEREAS, the additional $2,OOQ000.00 will be used for foundatlon work, the parking ramp, and utilities, on the site, and
�o WHEREAS, the Fire Department wishes to obtain sufficient financing to provide a short-term Ioan to the Station 1 and 10 and
19 Headquaders project i� order to finance the co�struc6on, and the Office of Financial Services has prepared a"Record of
�2 InterFund Loan" agreement to accomplish that financing; and
13
ta WHEREAS, an analysis has confirmed that the city can provide the financing by an intemal loan cheaper than a
�5 current market transaction; and
16
17 WHEREAS, there will be secure assets dedicated to the Intema! Loan Fund to support repayment of principle; with interest,
18 to the funds advancing the use of cash; and
79
20 WHEREAS, the temporary financing for the Station 1 and 10 and Headquarters project provided by the Internal Loan Fund wi
29 ultlmately be replaced 6y permanent financing provided by the city's issuance of Public Safety Bonds payable from the Debt
22 Service Fund; and
23
24 WHEREAS, the Station 1 and 10 and Headquarters Pub�ic Safety Bonds in the amount of approximately
25 $152 million will be issued in 2009; and
26
27 WHEREAS, the details oF the advances from the Internal Loan Fund and the issua�ce of the bonds are set forth in the
28 Record of Inter(und Loan; �ow
2s
30 THEREFORE BE IT RESOLVED, the City Council approves the use of the Internal Loan Fund to lend cash Yo the Fire
39 Department for the Sta6on 1 and 1Q and Headquarters project; and
32
33 BE IT FURTHER RESOLVED, that the proposa� set forth in this resolution is approved and the Director of Financial Services
34 and the Fire Chief shal! execute the Record of Interfund Loan to memorialize the transaction; and
35
36 BE IT FURTHER RESOLVED, that the Financiaf Services Director and the Treasurer will use the cash from the City pool
37 allowed by law, to provide secure financing for the Yransactions and assure the interest is paid and properly credited; and
38
39 BE IT FURTHER RESOLVED, ihat all intemal borrowing and piedges of repayment be reviewed and rated for investinent
4o quality by an impartial Saint Paul financial institution and that information be provided to the City Council for consideration in
a� its decision; and
42
a3 THEREFORE, the Mayor pursuant to Sec. 10.07.01 of the City Charter, certifies that $3,090,000 is availab{e for appropriation
4a in the 2008 6udget and recommends changes to the 2008 budget; and
45
a6 THEREFORE BE IT RESOLVED, by the Council of the City of Saint Pau1, upon recommendation of the Mayor and the
a7 advice of the Long Range Capital Improvement Budget Committee, that the 20Q8 Capital lmprovement Budget, as well as the
as operating budget be amended in the following manner:
49
Council File #
Green Sheet #
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented By:
Referred To:
50
51
52
53
54
55
56
57
58
59
60
61
s2
63
64
65
66
s7
68
69
70
71
72
73
74
75
7s
77
7a
79
80
81
82
83
S4
ss
86
e7
8S
89
s0
91
92
93
94
FINANCING PLAN:
C08 2008 Capital Improvement Projects
51004 - Fire Station 7& 10 & HQ
6928 - Advance From Other Funds
Total Activity Budget
SPENDING PLAN:
C08 2008 Capitai improvement Projects
51004 - Fire Station 1& 10 & HQ
�881 - Acquisition of Land
0892 - Architect Fees Capitalized
0894 - Construction General
Total Activity Budget
FINANCING PLAN:
070 - Internal Borrowing Fund
10304- Fire Station 1& 1� & HQ
6928 - Advance From City Cash Pool
6604 - I�terest on Advance
Total Activity Budget
SPENOING PLAN:
070 - Internal Borrowing Fund
10304- Fire Station 1& 10 & HQ
0535 - Advance to Other Funds
0619 - Interest Expense
Total Activity Budget
FINANCING PLAN:
001 - General Fund
00000-Non Department
6202 - Cash Advance
Total Activity Budget
CuRent Budget
1,000,000.00
i
Committee:
Date
Change
2,000,000.00
2,OO�,a��.00
08-1130
3060458
Budget
3,000,000.00
3,000,000.00
- 1,314,000.00 1,31A,000.00
1,000,000.00 - 1,000,000.00
- 686,000.00 686,D00.00
1,000,000.00 2,000,000.00 3,000,000.00
Current Budget Change Budget
- 3,000,000.00 3,000,000.00
- 90,000.00 90,000.00
- 3,090,000.00 3,090,000.00
- 3,060,000.00 3,000,000.00
- 90,000.00 90,000.00
- 3,Q90,000.00 3,090,000.00
Current Budget
0
e
Change
3,090,000.00
3,090,�00.00
Budget
3,090,000.60
3,090,00�.0�
SPENDING PLAN:
001 - Generai Fund
00000-Non Department
0535 - Advance to Intemal Borrowing Fund - 3,090,000.00 3,�90,000.00
Total Activity Budget - 3,090,000.00 3,090,000.00
.� . : '
f2ESOLUTtON
CITY OF SAINT PAUL, M{NNESOTA
Presented By:
Council Pile #
Green Sheet #
08-1130
3U60458
Referted To: Committee: Date
Ph� St. Paul Long - Range Gapital Impiovsms�:
$adget Commi teceived this xequest on
�clafa) l3(� -- _ an3 reco�nmas�a_
�a, .. �
Adopted by Council: Date �d�l��p'�
Requested by Department ofi:
Fire & Safet�� Services
By: ' /'2
Approval Re mmended by Director of Financia ervices:
By:
Form Approved by�ty Attorney:
; , r - ; % i �' '
By: /,, � �
Approved by Mayor for Submission to Council:
av: `�!ic� � �. �' ,���-�-�� /U-1 y - � U��'"
Adoption Certified by Council Secretary:
� Green Sheet Green Sheet
08-1130
Green Sheet Green Sheet Green Sheet Green Sheet
�
DepartmenffOffice/Council: + Date InHiated: '
� R -F�� i�-o� T-0B Green Sheet NO: 3060458
Contact Person 8 Phone: ' ' Deoartment Sent To Person InitialIDate ��
' Fire ChiefTim Butler ' � j o gffe ' � � � �
' 22 2-Q 47 7 1 F'ae Denarenent Director i
I
'�i � 2 '�Finaucial Se�vicec i 'Office k5vancial Servlces D I
� Must Be on Council Agenda by (Date): � Number '� , ; i
! { For �, 3 CiN AttomeY ' ��
� '��, Routing i 4 MaVOr`sOffice � Mayor /Assistan[ �i ��Glg`
i Dom Type: RESOLUTION W7$ ; Order � 5 Council '� Citv Council �
. TRANSACTION � �i �'nn,r�<.o- i! nwr�a.o- i �.
E-DUCUment Required: Y
DocumentCOnfact: JiIILaCasse
ConWCt Phone: 228-6257
Tofal # of Signature Pages _(Clip AII Locations for Signature)
Action Requested:
Appxoval of the attached Council Resolution adjusting the Department of Fire and Safety Services' CapitaS Project Fund financing
and spending plans for the new Fire Station 1 and 10 and Headquarters building as well as estabiish financing and spending plans
and acknowledge the temporary loan from the Intamal Borrowing Fund.
Recommendations: Approve (A) or Reject (R):
Planning Commission
CVB Committee
Civil Service Commission
Personal Service Conhacts Must Answer the Foliowing Questions:
1. Has this person/firm ever worked under a contract for this department?
Yes No
2. Has this persoNfirm ever tieen a ciry employee?
Yes No
3. Does this personffirm possess a skill not normally possessed by any
current ciry employee?
Yes No
F�cplafn all yes answers on separete sheet and attach to green sheet.
Initiating Problem, Issues, Opportuniry (Who, What, When, Where, Why):
The Depaztment of Fire and Safety Services is building a new Fire Station 1 and 10 and Headquarters and additional funding is needed
to begin construction by the tatget date of November 2008.
Advantages if Approved:
The Fire Starion 1 and 10 and Headquarters project will be able to stay on trnck and meet the completion deadl'sne of December 2009.
6isadvantages H Approved:
None.
Disadvantages If Not Approved:
The Deparhnent of Fire and Safary Services wiLl not have the additionai funding avaitable to begin the construction of the new Fire
Stzrion 1 and 10 a�d Headquarters.
Total AmouM of
Transaction:
Funding Source:
CosURevenne Sudgeted: Y
Activity Number.
Finanefal Information: $2�000,000.00 Capital Projact Fund
(Explain)
$3,09Q000.00 Internal Boaowing blmd
Octo6er S, 2008 &:17 AM Page 1