201321FRosen— ouncil File No. 201321 —By Milton
WHER
EAS, the Council of the City t 0Ik161NAL TO CITY CL �K ' Saint Paul, pursuant to Chapter
CITY OF M 685, Session Laws of Minnesota for NO.
OFFICE OF THE
,,,0,,, and further pursuant to Ordinance N. 11862 adopted by the Council and
1 approved , di bby�Re olution November
F. No.
• COU �JL TION - 200 643, approved February 2, 1961, au_ thorize the issuance and sale by said
PRESENTED BY t � City of Saint Paul of $700,000 par value q
COMMISSIONER of the bS14 of_ ,S_airl,Git�v„_ayfJ]R -'r Tys�
WHEREAS,- the Council of the City of Saint Paul,
pursuant to Chapter 685, Session Laws of Minnesota for 1957,
pnd further pursuant to Ordinance No. 11862, adopted by the
Council and approved by the Mayor November 25, 1960, did
by Resolution C. F. No. 200643,, approved February 12."1961,
authorize the issuance anc gale by said City of' Saint Paul -
of $700,000 par value of the bonds of said City authorized
to be issued and sold by said City for the purpose of payment
on account of said City's share- of the *cost and expense of
flood control insaid City and for the purpose of matching
funds allocated by the United States Government for that
purpose, said bonds being designated "City of Saint Paul
Flood Control Bonds "; and
WHEREAS, Chapter 475, Minnesota Statutes 1957,
as amended, provides that the governing body of any munici-
pality 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 bi?.tspread 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 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 obliga-
tions, 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 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 00 000 Y.,
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
COUNCILMEN Adopted by the Council 19—
Yeas Nays i
DeCourcy
Holland -
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
ISM a•eo 2
Approved 19—
Tn Favor
Mayor
Against
{
f `
��... 201321
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 $700.000 of
bonds, the following direct annual irrevocable taxes, to -wit:
- 2 -
TAX. REQUIRED BY,
CHAPTER 475
MINNESOTA STATUTES
1957, AS AMENDED,
5% TEMOF AND IN -
jFnT
TAX FOR
TAX FOR
EXCESS OF PRINCIPAL`
TOTAL
YEAR
INTMST
PRINCIPAL
AND INTEREST PAYABLE
TAX
1961
119900
595.00
12,495.00
1962
23,800
11190.00
24,990.00
1963
239800
11190.00
24,990.00
1964
23,545
159000
1,927.25
40,472.25
1965
23,035
15,000
1,901.75
39,936675
1966
22,525
15,000
1,876.25
39,401.25
1967
22,015
= 15,000
1,850.75
38,865.75
1968
21,505
159000 -
1,825.25
38,330.25
1969
,20,995
159000
1,799.75
37,794.75
1970
20,485
; 15,000
1,774.25
37,259.25
1971
19,890
209000
1,994.50
41,884.50
1972
19,210
209000
1,96o.50
41,170.50
1973
18,530
209000
1,926.50
4o,456.50
1974
17,850
20,.000
1,892.50
39,742.50
1975
179170 -
20.,000
,. 1,858.50
39,028.50
1976
16,490
'20,000
11824-50
38,314.50
1977
15,810
20,000
1,790.50
37,600.50
1978
14,96o
302000
- 2,248.00
47,208.00
1979
13,940
309000
2,197.00
46,137.00
1980
122920
309000
2,146.00
4�,066.00
1981
11,900
30,000
2,095900
43,995.00
1982
10,880
30000
2,o44.00
42,924.00
1983
9,860
30,000
1,99340
41,853.00
1984
8,840
30,000
1,942.00
40,782.00
1985
71735
35,000
2,136.75
44,871.75
1986
6,545
35,000,
29077.25
43,622.25
1987
5,355
35000
2,017.75
42,372.75
1988
4,165
359000
1,958.25
41,123.25
1989
2,975
35,000
1,898.75
39,873.75
1990
1,785
359000
1,839.25
38,624.25
1991
.595
359.000
19779.75
37,374.75
r .
- 2 -
2, ,1394 -
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 reimburse-
ment 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 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.
_, -3-
ORIGINAL TO CITY CLERK
CITY OF ST. PAUL COUNCIL NO.
OFFICE OF THE CITY CLERK FILE
COUNCIL RESOLUTION - GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
-3-
COUNCILMEN Adopted by the Council MAR 2 2 19619_
Yeas Nays `
DeCourcy MAR 2 2 196
Holland Approved
19—
Loss
In Favor
Mortinson
Peterson Mayor
Rosen Against
Mr. President, Vavoulis PUBLISHED) — — Iq 6
15M s.6o offlp.2
J
STATE OF MINNESOTA
COUNTY OF RAMSEY
2a /3a.�
CERTIFICATION AS TO TAX LEVY
(SS AND REGISTRY OF BONDS UPON
COUNTY AUDITOR'S BOND REGISTER
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 March, 1961, a certified copy of Council File
No. 201321 adopted March 229 19619 by the City Council of the City of
Saint Paul levying taxes for $7009000.00 City of Saint Paul Flood
Control Bonds, dated March 19 1961, 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. 334 and that such tax
for the payment thereof has been levied as required by law.
WITNESS, my hand and official seal this 24th day of March, 1961.
Entered in Bond Register this
24th day of March, 1961
1 op
MONICK, County Auditor,
FILED
961 MAR 21+ Pm 3 36
CITY CLERK'S Cl k,:.
SAINT PAUL, MINN. d