204768 ,T
,* . Council File No. 204768 — By,Milton + �.�����
��•ORIGINAL TO CITY CLERK-- ` �� Rosen— j� <<�
, . - WHEREAS, The Eouncll of the City oP �'
CITY OF s�t Paui, pursuant to the provisions OUNCIL '
� � � of Chapter 538, Sessioa Laws of Minne- ILE N�•
. OFFICE OF T sota for 1959, which,.according to it,��
pertinent terms, became operative lr '
� COUNCIL RESOLUT a�roval of the co,��a of the City ;
S nt Paul, under Council Resolutia
adopted ar�c���g rny_p11��-�-.c?Yro�+''
4 PRESENTED BY a _, �,TM �`"ti"`°�'�y,:•`*�- `_oi
C COMMISSIONE DATE
F
�� — -------- — --
WHEREAS, the Council of the City of Saint Paul,
� pursuant to the prowisions of Chapter 538, Session Laws of
Minnesota for 1959, which, according to its pertinent terms,
� became operative by approval of the Council of the City of �
Saint Paul, under Council Resolution adopted and approved
;� May 7, 1959, C, F. No. 192221, and f urther pursuant to the
provisions of Ordinance No. 11905, adopted by the Council�
and approved by the Mayor February 2, 1961, did, by fieso-
� lution, C. F. No. 203836, approved September 12, 1961, authorize •
� the issuance and sale by said City of Saint Paul of $3,500,000
E par value of the bonds of said City, authorized to be issued
� and sold by said City f or the purpose of the proauremerrt by
said Citp of �unds for the payment of said City*s advances
to the �tate of Minnesata in connection with the location,
� construction, reconstruction and improvement of state t'runk
� highways within the corporate limits of said City, pursua nt
to agreement between the State of Minnesota and said City,
; dated January 25, 1�60, and supplemeAtal agreemer�t dated
� �� November 29, 1960, said bonds being designated "City of
� Saint Paul Trunk Highwap Bonds, Series No. 2" ;
WHEREAS, Chapter 475, Minnesota Statutes 1957, as'
amended, provides that the governing body of any municipality
• �:: -�issuing general obligations shall, prior to� the del ivery 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 f or each year of th e term
of the obligations, and said law also provides that the tax
levies f or all years shall be specified and such that if .
collected in full they, together with estimated collections
of special assessments and other revenues pledged f or the
payment of said obligations, will produce at least five per
cent (596) in excess of the amounts needed to meet, when due,
the principal and interest payments on �the obligations, and
said law f urther provides that said resolution shall create a
separate sinking f und, or a special accou�t in the municipalityts
regular sinking fund, for each issue of obligat�.ons, and shall
irrevocably appropriate the taxes so levied and any special
COUNCILMEN Adopted by the Council 19—
�Yeas Nays
�, DeCourcy
p Holland Approved 19—
f ,
, � - Loss In F�,vor �
Mortinson
� Peterson � ��, ; Mayor
� A gainst
Rosen
��Mr. President, Vavoulis ,
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. Page 2. , .
assessments or other revenue so pledged to that fund or account; .��
now, theref ore, be it
RESOLVED, that for the purpose of providing for the
payment of the principal and interest upon the said $3,500,000
in bonds so issued and sold, when and as the same mature, and
f or an additional direct tax in an �ount not less than 5g6 in
excess of the sum required to pay such principal ard interest
when the same mature, there is hereby levied an all of the
taxable property in the City of Saint Paul, in addition to
all other taxes, a tax for the payment of said $3,500,000 of �
bonds, the f ollowing direct annual irrevocable taxes, to=wit: 'r
. ,,�
`` - . , �
.` {' 1� � ' • , A • •1 • ♦ ♦
A ' ,I ��
.. , TAX EF�IIIRID �Y .. �
� - . cx�m� 475, �ws � . .
' �; � OF MINNESO TA.,°' 1957� _
.► � . `,. AS 9MENDID � 5� IN '
FLYCESS OF PRINCIPAI�,.._..,,. ..
��� -��-�.r.-�„�.---.��_ _.._�,.,..-.r,...�...-_.�. ,� .
BEIIDGET - - TAS FOx , . .. TAX FOH AND , TOTAL
YTi'AR PBINCIPr� INTEREST INTEREST PAY.ABLE TAX (
1.y62 : 108,500 5,425.00' 1�3,925:00
- - i963 � - , �:.. ' .., � • - • r.'�o8,.500 .,,...., _ .5.�r25.o�, �13�925.00
.� ..._ i`96� - . .� . -i7o��c�'oo"=-�°W w,�.,_ ' ,�-= .�.io8,5o0 ` _ .' .r�-� 13�925.00 292,42s,00
i'g65 i8o,000 103,23o i4,i61.�o. 297�391.50
i966 180,000 97,650 13�882•50' 291.532•50
i967 18o,aoa 92�07o i3,6o3.5o z85,d73•5o
1968 180,000 86�490 i3,324.50 279�814.50 -
i969 lSO,aoo 80,910 13,04�5.50, 273�955.5o I
i97o i8o,oao 75�33o i2,766.50 268,096.50
i971 2oo,aoo 69.750 13,�s7.5o, 283,237.50
i972 200,000 63,550 13�177.So 27b�727•5a
i973 2oo,00a 57.35o i2,�7.50' 27o,2i7.5o
�� i`97�r 200�000 5i,15a 12,557•50 263,707•50
j i'975 2oo,00a �4�,95o i2,z4�.5o 257�197�50
1976 200,000 38.750 11,937•50, . 25a�6'$7.50
i977 2io,00a 32.550 1z.i27.5o 25��677.50
I i978 2io,o00 - 26,040 11,$02.o0 2�v7.,84�2.00
{ 1979 � zlo,000 19�530 11,476.�o z41,ao6�5o
{ 1980 210,000 •� 13,Q2d 11,151.Ob� 234,171.00
i981 zio,000 � 6,510 10�825.50 227�335�50
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.w,ORIGINAL TO CITY C�.ERK ' � ' �o����
'' � . � CITY OF ST. PAUL FOENCIL NO _
p OFFICE OF THE CITY CLERK
�t . COUNCIL RESOLUTION—GENERAL FORM
,�
PRESENTED BY
COMMISSIONER pqTp
�h •
� - -- --- - --
gage 3.
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 f und of the �said City of Saint Paul, and reimbursement
E therefor shall be made when said taxes shall have been received;
� be it � ' _
� F
FURTHER RESOLVED, that there shall be created a separate
sinking fund, or a spec3.a1 account in the sinking fund, f or said
obligations and that the taxes received for the payment _thereof
are hereby irrevocably appropriated to said account, and that
� the City Cle�k be and is hereby instructed to f ile in the off ice
of the County -Auditor of Ramsey County a certifried copy of th is
resolution, together with f ull information regarding the bonds -
for which this tax is levied, and the City Clerk is hereby ordered
and directed to secure �rom .the Covnty Auditor a certificate that
he has entered the obligations in the tax register as required
�� under the provisio�ns�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 f rom the County Auditor and deliver to the
� , purchaser a certificate of the County Auditor that the issue has
been �t�tered 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
�k . collected shall be used solely for paying the interest and
principal of said bonds when and as the same shall mature.
NOV �4 ��61
COUNCILMEN ' Adopted by the Council 19—
�Yeas Nays ,
E DeCourcy ��� �L�'���
Holland Approved 19—
Loss
In Favor . ;
� Mortinson � 4 '
Peterson Mayor
� R,osen , gainst I � _ -�� r /
L� /
+Mr. President, Vavoulis �L��D–�--"�"� –
SM (j{jl �
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- , .. � � � � �o � �6 �
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� STATE OF MINNESOTA ) E�RTIFIGATION AS Tn TAX LEVY �
� �� AND REGISTRY OF BOAIDS UPON �
GnUNTY OF RA141�EY ) ��TY AUDITnR•S BOND REGISTER
� �
�
I, the undersignsd, being the duly qualified and acting County
Auditor� of aamsey County� do hereby certify that there was filed in my
� office on the l�th day of November, 1961, a certified copy of• Gouncil
File No. 204768 adopted November 14, 1961, bp the City Council of the
City o# Saint Paul levying taxes for $3�500,000.00 City of Saint Paul
?runk Higha�ay Bonds, Series No. 2, dated October 1, 1961, as the same
fall due and to pay and discharge the principal and interest thereof
� at maturity. �
�
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€ It is further certified that pnrsuant to Sectio� 475.63 Ninnesota
� Statutes Annotated that said bond issue has been entered and registered .
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� apon the County Auditor's bond register File No. 364 and that such tax
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for the payment thereof has been levied as required by law. '
� WITNESS, my hand and official seal this 16th day of November� 1961.
�
� E p. I�pNIQC� County Auditori �
_ -P,t-c-.2..
i !
Entered in Bond Register this ' _
16th day of November, 1961. !
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� SAIE�r .,,... �Fr3�t