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203800 ' f � ' , - . r w • � �y�/L��'bd�o ORIGINAL TO CITY CLERK CITY OF ST. PAUL FOENCIL NO. _ , . OFFICE OF THE CITY CLERK OU CIL RE OLUTION— E ERAL FORM ` PRESENTED BY COMMISSIONE D T — ' BE IT �ESOLVED 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 the �esolution No. 151 . adopted by the Port Authority of the Cit.y of Saint Paul, dated �Se tember 6, 1961, entitled '!�ESOLUTION AWaSDING SALE OF �2,500,000 GENEAAL IT1lPEOVEMENT BONDS, SEIIIES A� FIXING THE INTEF�EST BATES AND OTHES. TEF�NiS THESEOF, AND LEVYING AND APPHOP�IATING"_TAXES FOE. THE PAYMENT OF P13INCI- PAL AND� INTE�EST ,THEI�EON" , , a copy of� which� has. been certi- fied to the Council by the Secretary of the Port Authority and is now� on file in. the of�ice of the City Clerk and, by reference, in.corporated herein and made part and parcel hereof, and the Council specifically, but without limitation, concurs in the award of sale of bonds, in.terest rates, date, denomin.ations, place of payment, form and details of the Port 6uthority's General Improvement Bonds, Series A in � �- the amount of �2,500,000, dated September 1, 1961, as speci- fied in said resolution, and intithe years and a ounts speci- fied for the taxes levied for the pay,�ne.�� - _ _ - �d bonds, and does hereby find, determine and decl�ri��t��- � such pro- visions are in accordance with Ordin. °`�' Na� 1 .�13 of the City of Saint Paul, adopted February� 96i, ,_� are hereby ap- � proved, ratified and confirmed. ��.� • � Council Flle No.�y�Q3800—By Bernard T. Holland—Robert F. Peterson— -� Be It Resolved By the Council of ' the City of Saint Paul that this Council ,,,s . does hereby concur in� each and all,,._.�_�m- `'-'. - - - ,, ' _ - of the terms and provisions of the Resolution No. 151�adopted by the Port Authority of the City o� Saint Paul, dated September 8, 1961, entitled "RESOLUTION AWAR.DING SALE OF � ;2,500,000 GENERAL IMPROVEMENT BONDS, SERIES A, FIXING THE IN- i'^REST R.ATES AND OTHER.�ERMS ��''.y "-.F-T_` 'Y'.: : : .ia�t' ..��" 9""`li F , , y� � 1 ' �F+� • �� COUNCILMEN - Adopted by the Council 19— � Yeas Nays . `, ' DeCourcy • ��1+ 7 �� • Holland - ` proved 19— Loss In Favox � Mortinson ' Peterson � Mayor Rosen A gainst . Mr. rresident, Vavoulis ��D � /�"` / aM G-G1 1 ` DUPLICATE TO PRINTER , ' ��f'�i �� CITY OF ST. PAUL couNCi� �' `'"' _ . OFFICE OF THE CITY CLERK FILE NO. _ COUNCIL RESOLUTION—GENERAL FORM PRESENTED BY COMMISSIONER DATF � � BE 1'T �ESULVED by the Counail of the City Qf 5aint Pa�. tbat thi� Counoi7. dde� hereby cqncur in esoh and all of the �erms and pr4vi��.ons of the 8e�olutidn No. 151 adopted by t�he Por� Autbor�.ty of �he City 0� Saint i'aul, dated Se tembe'r 6, 196�, entit],ed "EESOLUTIaN AWA�D�Na SALE 4F ��00,000 (3ENEt3AL IMPEOVEMENT BONDS* SESIEg A� FIXINQ TH� INTEQES�.' �ATES AND OTH� TffiPi� THEE�EOF, AND LEV3CING A�iD APP$OPEIATINQ"TAXE3 F�� THE PAYMENT OI� PEINCI_ PAL AND INTFEEST TH�ON", a eppy o�' whiah has been certi- fi�d to the Counail by �he 3earetary of tY�� Port Au�thori�y � and is noiv on f ile �.n the office af the City Clerk and, by referena�, incdrpora'tea herein an�d n�sde part and parael hereof, and the Gbw�.Qil Bgecsif io�llyi �bu� wi�hout limitation, conaurs in. the award oF �ale of'bonds, ir�t��est rat�s, da�Q, denominatitina, place df paqment� form and detail� of the Port Aut�ority�$"General' Improve�uen� Hondes "Ser�.e� s 3n the emount af �2�500 .000, dated $ep�ember 1,. 1g61, a�• apeai- '`, �ied in said resolut�on, and �.n the years a�d amounts speci,. � fied for the taxe� levi�d fox� �he paymex�� of sa�,d bonds, and dqea hereby find, determine and dealare that all suah pro- vi��on� are ir� acaordan�e ws�h E)rd3nanae N�, ' 11913 of the City of Saint Paul, eaopted February 3, 1961, and are hereby ap.. prQVed,, ra�if3.ed and con�'irme�i. �� . _ . , Y _, . . ... - , COUNCILMEN Adopted by the Counci�� 19— Yeas Nays $E P 7 ��,� DeCourcy Holland �'�� Approved 19— �sg Tn Favor Mortinson Peteraon � ' ' Mayor A gainst Rosen Mr. President, Vavoulis 5M 0-01 , . '� _ ,� , . � ' - � � - � 3 �� o Extract of Minutes of Meeting Port Authority of the City of Saint Paul Saint Paul, Minnesota September 6, 1g61 Pursua�t to due ca11 and notice thereof, a special meeting of the Port Authority of the City of Sai.nt Paul was held at the Port Authority Offices, 60 East Fourth Street, Saint Paul l, Minnesota, on j�Tednesday, September 6, 1961, at 2:00 � o'clock P.M., Central Standasd Time. The �oll.owing Co�nissioners were present: R. F . Peterson, R. W. Johnson, � A. J. Brand, B. T. Holland, N. H. Gr'iebenow, R. C. Radman, P. H. Nason and the following trere absent: No n e � a� -� � � � � # � The Treasurer of the Port Authority presented a.ffidavits showing publica- tion of the o�ficia.l advertisement of Rotice of sa.le of $2,500,000 General Improve- ment Bonds, Series A, as directed at the Port Authority's meetin� August 8, 1961, which affidavits were examined and found satisfactory and directed to be placed on file in the office of the Secretary. The Treasurer reported that 14 sealed bids had been received in ac- cordance 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 tabulation there- of. After examination and consideration of the bids by the Port Authority, Comm. Griebenow ��roduced the following resolution and moved its adoption: RESOLUTION AWARDIIVG SAIE OF $2,500,000 GENERAL INIPROVENNIEENT BONDS� SERIES A, FIXING THE INTERE,ST RATES AND OTHEI3 TEFtNbS THEREOF, AND LE'VYIlVG AND APPROPRIATING T�S FOR THE PAYMENT OF PRINCIPAL AND TN'��T THE�EON -1- ' , . ,� a . • " � , , The motion for the adoption of the resolution was duly s�bbi�ded by Comm. Joh n so n , and upon vote being taken thereon, the follotiri.ng voted in favor thereof: R. F . Peterson, R. W. Johnson, A. J. Brand, B. T. Holland, N. H. Griebenow, R. C . Radman, P. H. Nason and the following voted against the same: No ne whereupon said resolution was declared duly passed and adopted. STATE OF MIlVNFSOTA) � ss. COUPFI'Y OF RAA'�SEY I, the undersi�.ed, bei.ng the duly qualified and acting Secretary of the Port Authority of the City of Saint Paul, hereby certify tha.t the attached and fore- gai�ng is a �ull, true and correct transcript of the minutes of a meeting o� said Port Authority duly called and held on Septembex 6, 1961, so fax as such mi.nutes relate to $2,500,000 General 7�rprovement Bonds, Series A o� said Authority; and that also at- tached hereto is a full, true and correct copy of the resolution adopted by the Port Authority as indicated in said min.utes, relating to said bonds. WITNESS m�r haud and the seal of the Port Authority this 6th day of September, 1961. G�2�.� � e e ary (S�) r -2- : . . • ' � 3. , ' . Res. No . 151 RESOLUTION AWARDING SAI� OF $2,500,000 GENERAL ID�ROVEN�Nr BONDS� SERIES A, FTXCNG TAE INTERFST RATES AND OTHER TERNLS THEREOF� AND LEVYIlVG AND APPROPRIATING TA�S FOR THE PAY'MENT OF PRINCIPAL AND IlVTEE�E,ST THEREON BE IT R�SOLVED BY THE PORT AUI'HORITY OF THE CITY OF S�IPP1 PAUL: l. Under and pursuant to the resolution adopted by the Port Authority on December 13, 1960, and Ordinance No. �.],.g13 of the City o� Saint Paul, adopted by the City Cowicil on Februaxy 3, 1961, and the pertinent provisions of Minnesota Statutes, as am+ended, i.ncludi.ng Section �+58.193 and Cha.pter 475, the Port Authority has pro- vided �or gublic sale of $2,500,000 General Improvement Bonds, Series A� and has caused notice of the time and the place �or the receiv�,:,x�g of the bids to be publ.ished not less than two weeks before the date of receiving bid.s, and has considered a7.1. bids received pursuant to the published notice, and does hereby find and determine that the highest and best of such bids is that of THE FIRST NATIONAL CITY BANK OF NEW YORK , of NEW YORK CITY , and associates named there- in, to purchase the bonds at a price of pax plus accrued interest to the date of de- livery thereof, plus a premium of �830.Og and bearing interest at the respective rates stated below, and subject to the �.irther terms and conditions stated in this resolution and in said Ordinance No. 1.�g13. The sale of the bonds is hereby awarded to said bidder, provided that the Secretary sha7.l forthwith present this resolution to the City Council of the City of Saint Paul, �or app-roval of the rem�i.ning provi- sions of the bonds herein stated which requires such approval under law, other than those established by said ordinance, an.d a�`ter such ap�roval the President and Secre- tary shall make and execute on the part o� the Port Authority a contract for the sale of the bonds upon these terms. The good faith check �axnished by the successf'ul bidder shatl. be retained by the Treasurer of the Port Authority un.til the bonds have been delivered and pa;yment has been made in fu7.1, and the Treasurer sha11 return the checks of other bidders forthwith. 2. Baid General Improvement Bonds, Series A shall now be issued and de- livered in. the aggregate principal amount of $2,500,000 and in the denomination of $1,000 ea,ch, payable to beaxer, shall be 2,500 in n�ber and numbered from 1 to 2,500, inclusive, shall be dated as of September l, 1961, and shall mature seriaL7.y, lowest numbers first, without option of prior payment, on March 1 in the yeaxs and amoun.ts as follows, beaxing interest at the respective annual rates stated opposite their maturity years and amounts: Interest Interest Year Amount Rate ) Year Am�unt Rate �%) 1g64 $50,000 3 � i978 $ 9o,00a 3 % 1g65 60,000 3 � i979 go,000 3 % i966 60,000 3 % 198o go,000 3 % ig67 60,000 3 % 1981 ioo,000 3 % ig68 60,000 3 � 1982 loo,000 3 % ig69 60,000 3 % �.983 ioo,000 3 % 1970 70,000 3 % 1984 �o,000 3 % 1971 70,000 3 % 1g85 uo,000 3 % 1972 70�000 3 % 1g86 i2o,oao 3 % 1973 70,000 3 % ig87 120,000 3 % 197�+ 80,o00 3 % 1g88 120,o00 3.60 1975 80,000 3 % 1989 130,000 3.60 i976 80,000 3 % i9go i3o,000 3.60 1977 80,o00 3 � 1991 z�+o,o00 3.60 -1- � _ . �•G , w . . 1 The interest on the bonds shaL1 be payable semiannually on Maxch 1 and September 1 in each year commenc March 1 1 62 and both pr� incipal and interest sha17. be payable at THE F'IRST' NAT�NAL C I1'Y �AI�K OF NEW YORK , � NEW YORK C ITY , and the Port Authority hereby agrees to pay the �eason- able and customary chaxges of the paying agent for the receipt and disbursement of the pri.ncipal and interes't. 3. The bonds shall be prepaxed for execution im.der the direction of the Secretary, in substantially the form set forth in Ordinance No. 119�3, and when so prepared sha7.7. be executed by the litho�raphed facsimile signature of �he President of the Port Authority, countersigned by the lithographed facsimile signature of the Treasurer, attested by the m�anual. signature of the Secretary, and sealed with a lithographed facs9mile of the official seal of the Port Authority, and each of the interest coupons annexed to the bonds shall be executed and authenticated by the lithographed facsim-i.le signatures of the President a,nd Secretary, and a true and cor- xect copy of the opinion rendered by bond counsel as to the validity of the issue, to be rendered at the time of delivery thereof, sha11 be printed on the reverse side of each bond. When the bonds and coupons have been so prepaxed and executed, they shall be delivered by the Treasurer of the Port A�uthority to the purchaser, upon pay- ment of the purchase 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 sha]1 be segregated by the Treasurer in a sepaxate and special �tznd of the Port Authority, and shall be used solely for the purpose for which the bonds were author- ized as stated in Ordinance No. 1.1.91.3, including the pa,yment and redemgtion of' the General 0'bligation Bond Anticipation Notes in the amo�t of y�300,000 dated June 12, 1961 an.d in the amount of $200,000 dated July 25, 1961, with accrued interest on such notes to the date of such payment, said notes having been issued in an.ticipa,tion of the issuance o� these bonds, to provide fl�nds i�ediately required for the purpose for which the bonds were authorized. The Treasurer is directed to ca1]. said notes �or prepayment and redemgtion as soon as may be, upon notice to the respective payees thereof, and when paid the notes sha11 be forthwi.th canceled. �+. In accordance with said ordinance and laws, there is hereby levied for each year, until the principal and interest of the bonds axe paid in. f'ul.l, a direct, annus.l, a,d valorem tax on all the taxable property in the Ci�ty of Saint Paul, not less than f�.ve per cent in excess o� the sums required to pay the principal and in- terest thereo� when and as such principa,l and interest ma.ture. Such tax shall be extended upon the tax rolls o� the following yeaxs, in not less than the am.oun.t stated below for each such yeax, collectible in the respective ensuing years: Yeax Amornmt Yea'r Amount Year Amount 1961 $134,900 1971 $144,300 1981 $145 ,300 1962 142,500 1972 152,400 1982 152,100 1963 151 ,200 1973 149,700 1983 �148,000 1964 149 ,200 1974 147,000 1984 154,500 1965 147 ,100 1975 144,300 1985 150, 100 1966 145,000 1976 152,000 1986 145,700 1967 143 ,000 1977 148,700 1987 151 ,600 1968 151,500 1978 145,400 1988 146,700 1969 149, 100 1979 152,600 1989 152,300 1970 146 ,700=�. 1980 148,900 -2- � 4 . , ,. ' • y � �- i , After the delivery of the bonds, such tax shall be irrepealable until a]1 such in.- debtedness is paid, and after the issuance of the bonds no f�rther action by the Port Authority sha11 be necessary to author3ze the extension, asaessment and collection of such tax. The Secretary sha11 forthwith ftZi^nish to the County Auditor of Ramsey Coun� ty a certified copy of this resolution and of the resolution of the City Council of Sain.t Paul concurring herein, together with flall information regarding the bonds for which the tax is levied, and the tax shal7. then be extended and assessed and the pro- ceed.s thereof accounted for as provided in said Ordinance 11g1.3. 5. The President, Secretary, Treasurer an.d other officers of the Port Authority and the of'ficers of the City of S�in.t Paul axe authorized and requested to furn3.sh to the purcha,ser of the bonds, and to the attorneys approving the legality thereof, certified copies of all ord.inances, resolutions and other actions and pro- ceedings taken by the City and Port Authority with reference to the authorization, issuance, sale and delivery of the bonds, and such certificates or affid.a,vits as to other ma.tters appearing in their of'ficisl recorde or otherwi.se lmo�wn to them, as may reasonably be required to evidence the validity and marketability of the bonds; and all certi�ied copies, certificates and affidavits so tlirnished, including any heretQ- fore f`urnished, sha71 be deemed representations of the Port Authority as to the cor- rectness of all facts and the taking of all actions stated or recited therei.n. 6. Pursuant to the speci�'ic authorization conta3ned in. said Ord3nance No. 11913 0� the City of Saint Paul, the full �aith, cred.it and resources of said City, as well as those of the Port Authority of the City of Sai.nt Pau1, are hereby pledged for the promgt and �,ill payment of the principal o� and interest on the bonds herein authorized as such principal and interest become due. In �he event that the collec- tions of the tax herein authorized should at any time be insufficient for the payment of such principal or interest, the Port Authority is authorized and obligated under Minnesota Statutes, Sections �+75•61 anct �+75.7�+ to levy additional taxes upon a1]. the taxable property within the City to make good such de�iciency, which levies may be made without li.mitation as to rate or amount. Adopted September 6, 1961. President, Port Authority Attest: � � ecretary �S�) -3- � � � :�rY o� ;r. ��„�� '�� C�Fr�C:E OF Tt-�E CITY CLERK ��' .• �r'.•t)L�C;t. ��,: ;�`i_�JTi4N-CjE +IERAL F Jitiv' PRESENTED BY /' � - / f / �' --- — COMMISSIONERtv'r _� ��t�� ` ` �� _�L �C4– h � ��IDATE -- i, BE IT AESOLVED 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 the gesolutior� No. 151 � adopted by the Port Authority of the City of Saint Paul, dated Se tember 6, 1961, entitled "AESOLUTION AWAKDING , SALE OF �2,500,000 GENEt?AL IP1IPxOVEMENT BOrjD5, SII3IES A, ' FIXING THE INTEAEST HATES AND OTHII3 TEFiMS THEREOF, AND LEVYING AND APPAOPAIATING TAXES F0� THE PAYMENT OF PHINCI_ PAL AND INTEFiEST THEAEON" , a copy of which has been certi- fied to the Council by the Secretary of the Port Authority and is now on file in the office of the City Clerk �nd, by . reference, inc;orporated herein and made part and parcel hereof, and the Council specifically, but without limitation, concurs in the award of sale of bonds, interest rates, dnte, . denominations, place of payment, form and details of the . Port Authority's General Improvement Bonds, Series A in the amount of �2,�00,000, dated September 1, 1961, as speci- � fied in said resolution, snd in the years and amounts speci- fied for the taxes levied for the payment of said bonds, and does hereby find, determine and declare that all such pro- visions are in accordance with Ordinance Na;, 11913 of the ' City of Saint Paul, adopted February 3, 19b1, and are hereby ap_ � proved, ratified and conf irmed. I i � � . � � SEP 7 i� � COUNCIL�ZI::�' .�ci��teci uv the �'uunc•il. � Yeas -- - —1`� - I�'ays DeCourcy r. i ��t ry J.♦ Holland ��roved � Loss -- — --19_ ._ biortinson I71 I'��ror � - - ---�� .-�°-a�<< . Peterson � Mayor R,osen ----�g��ir�st � Mr. President, Vavoulis � r N �ail �