196868�, _ Council File No. 198868 -By Severin A. 0r,l;M CATY CL%RK Mortinson— J9,6868
CITY OF ST. P/' 0rddinnancceANo 11555, bearing i s' Con c'� N
cll File No. 193731, duly enacted by its
OFFICE OF THE CIT1Council and approved by its Mayor
September 10, 1959 provided therefor
C NCI L RESOLUTION —G and authorized the Issuance and sale by
said City of the bonds of said City in
the par value sum of not exceeding
PRESENTED BY Four Million, Four Hundred Thousand 1
COMMISSIONER— Dollars (4400,000), authorized by
r1'
WHEREAS, City,of Saint Paul, by its Ordinance No. 11555.,
bearing its Council File No.,193731, duly enacted'by its Council
and approved,by its Mayor September 10, 1959, provided therefor
and authorized the issuance and sale by said'City of the bonds
of said City in the par value sum-of not exceeding Four Million,
Four Hundred Thousand Dollars ($4,400,000), authorized by Chapter
938, Session Laws of Minnesota for 1957, for the purpose of the
procurement by said City of funds in the amount'of not exceeding
Four Million, Four Hundred Thousand Dollars($4,400,000) for the
payment of said City's share of the cost and expense of the
acquisition of the land for and the erecting, equipping, and
furnishing of a Joint City and County Public Hospitalaand a
Joint City and County Nurses' Home of the City of Saint Paul'and
the County of Ramsey thereunder, and in accordance with the pro-
visions, terms, and conditions of said Chapter 938, Session Laws of
Minnesota for 1957; and
WHEREAS, the City of Saint Paul and the County of Ramsey, within
the State of Minnesota, operate and maintain jointly a County Welfare
Board the costs of which are borne jointly by such City and such
County and under the jurisdiction of which Board public hospitals
are maintained and controlled, and such City and:such._County, by _
formal action of their governing bodies have determined to proceed
to initiate, effectuate and carry out the purposes of Chapter 938,
Session Laws of Minnesota for 1957 and thereunder and pursuant to
the provisions, terms and conditions of said Chapter 938 to acquire
land for and erect, equip and furnish a Joint City and County
Public Hospital and a Joint City and County Nurses' Home of said
City of Saint Paul and said County of Ramsey; and
WHEREAS, thereunder and pursuant to the provisions, terms and
conditions of said Chapter 938, Session Laws of Minnesota for 1957,
the "Hospital Facility Building Commission," consisting of nine
members has been formed for the effectuation of the purposes of
said Chapter 938 and, among other things, has selected the site for
such Joint City and County Public Hospital and such,Joint City and
COUNCILMEN Adopted by the Council 19
Yeas Nays
DeCourcy
Holland
Mortinson
Peterson
Rosen
Winkel
Mr. President, Dillon
15M 7 -59 Q%W8
In Favor
Against
Approved 19
Mayor
• x
County Nurses' Home,-and
said Commission "s report
said City and said'County
by said governing bodies,
Saint Paul, acid 'the ' Board
County of Ramsey; and
51a
such selection of'such'site; upon
thereon'to' the governing bodies'of
has been considered"and ratified
and the 'CouiYd1l 6f said City" of
of County Commissioners of said
196868
WHEREAS, heretofore-of said authorized-bond's'-there-hat
been issued by said City., 'for said purposes' bonds "aggregating
Fifty -five Thousand Dollars ($55,000) par value amount entitled:
SFP &�F-- 4P -.�14
GAS- OFD- �.4MBE�
"JOINT HOSPITAL FACILITIES BOND
SERIES NO. 1"
and
WHEREAS,'-it is deemed necessary that said "City "hoi issue and
sell the additional bonds of said City"JAI the par value sum of
Four Hundred Ninety -five Thousand Dollars"-`('.$'495,000') 'authorized
by said Ordinance No. 11555 And- said '"Chapter 938;`8e6sion Laws
of Minnesota - for 1957, "'for the purpose''of the procurement by' "said
City_- of funds in the amount ,-of Four Hundred - Ninety -five 'Thousand
Dollars •($495,000) :.for payment -on "account ' of -said"City's' share of
the cost and expense of the acquisition'of the land-for'and the'
erecting, equipping and furnishing of'such "Joint City and'County
Public Hospital and such Joirit City and'CdUntyNurses'' Home "thereunder,
and-in accordance 'with the provisions, terms, and conditions of said
Chapter 938, therefore, be it
RESOLVED, that'the Council of-the'City_of`Saint Paul''issue and
sell at this time Four Hundred Ninety =five ' Tlioiisarid' "Dollars . ($495, 000)
par value in-and of said bonds,'pursuant "'to"and lhaccordance with*
said Ordinance'No. 11555 and said Chapter 938,-`Session' haws for 1957;
that -said bonds "shall be in deri6minations of "- $I,'000 eaeh; that said
bonds shall bear a 'rate of , Vt not to Mg-eed 'sig'per cent per
annum payable semiannually oncpwie 1 arid-' D6eember' l''according to
the interest coupons to be attached to said'borids; -that said bonds
shall bear date the 1st day-of June, 1960; "that said bonds shall be
in the'form of serial bonds, a portion of which shall become payable
1' ,' 1963
each year after issue commencing June ;' that "the first
installment of said bonds shall come due-three- years''from the date
of the same and the last installment'of said bonds shall come'due
in not more than thirty (30) years from such "date; that*nb annual
installment of principal -of any of said bonds payable in any calendar
-3-
1196868 .
year after the date ' of the same - "shall"- exceed" five times ' the .amount
of the smallest prior installmehtthereof payable 'in - any calendar
Year after ' the" second calendar year ",•" that- "the principal' $495, 000
par value' of said' bonds - 'shall mature 'serially 'commencing June, 1,
1963; over said thirty year period on the following dates and•in
the following amounts:
Date of
Bond"
'
Maturity
Numbers
Amount
June
1;
1963
39o4l-- -39050
$10;000
June.l,
1964
39051 -39060
10.000
June
1,
1965.
39061 -390 0
10,000 ,
June
1;
19664
39071 -390
10,000
June
1;
1967'
39081 =39o90
10;000
June
1;
1968
39091=39100
10;000
June
1;.1969
39101 -39110
10,000
June
1,
1970
39111 -39125
15;000
June
1;
1971
39126- 39140
15;000
June
1;
1972
39141 -39155
15;000
June
1;
197 , �; '� ' .
39156 -39170
15; 000
June
1;
197
39171- 391:$5
15;000
_ June
1,
1975,
39186 -39200
15 ;000
June
1,;
1976-=
39201 -39215
15 000
June
1-','1977
39-216-39235
20,000
June
1,
1978..
39236 =39255
20;000
June
1;
1979
39256 -39275
20;0001
June
1,
1980
39276- 39295
20;000
June
1;
1981
39296- 39315
20 ;000
June
1;
1982
393i6- 39335
20;000
June
1,
1983
39336 -39360
25;000
June
1;
1984
39361 -39385
25;000
June
1;
1985 .39386
-39410
25 ;000
June
1,
1986
39411 -39435
25 ;boo
June
11
1987
39436 -39460
25 ;000
June
1,
1988
25;000
June
- l -
1980:1o"
'39486-39510
25; 000
June
1,
-
199b.;1�
39511 -39535
25,000
$495, 000
RESOLVED FURTHER, that sealed prop6sals;be
received at the office
of the
City Comptroller in the Court House and City Hall in.the City
of'Saint
Paul, Minnesota,
up t6ten'o'elock A;M.
'(C.D.S.T.) on June 14,
1960,
for
the sale of all
or none of'said bonds,
"after giving -due
notice
of
such sale in the manner'prescribed by
law in'the St. Paul
Legal
Ledger; the- official - newspaper.: -of said City, and in Finance
and Commerce, a financial
periodical published in the State of Minnesota;
that each bidder shall be "required to accompany his bid -by a
certified or cashier's "check "for two (2)'` per cent of- "the amount
of -the bonds "bid "for, which shall -be- 'forfeited ` to' - the -City as
liquidated damages' if "the bonds' "are not' "taken 'up 'and 'paid for
when ready "'for 'delivery; and' that' "the City-Comptroller shall, at'
the next - meeting after receiving said'bids; present -the 'same to
the Council - 'for "its action' thereon, -and that said bonds shall be
offered to the person who will pay`pa"r or better therefor; and at
the lowest rate of interest not exceeding six per cent per anrxum.
RESOLVED 'FURTHER, - that said City 'of "Saint ` -Paul Joint Hospital :.r ,
Facilities' Bonds, Series 'No: 2, in 'the '-amount -'of "Four Hundred Ninety
five Thousand Dollars ($495;000')'par "value authorized and provided
to be sold hereunder in denominations -of $1;000'eaeh;' as aforesaid,
shall be denominated City "of Saint Paul lolht Hospital Facilities
Bonds, 'Series-'No. 2, ' and shall be' :in -substantially- the following 'form
which has been prepared by the Sinking "Fund Committee 'and" approved
by the Corporation Counsel of said City, and is hereby approved and
adopted: -
'AURjTED- ISTA2S --OR AMERWAC
STATE OF. MINMSOTA
COUNTY OF,RAMSEY
CITY OF SAINT PAIL JHOSPITAL FACILITIES BOND
SERIES NO. 2
No.......... $1,000.00
"KNOW ALL MEN BY 'THESE PRESENTS,-that 'the City" of
Saint Paul 'in. the County of 'Ramsey and. State' 'of 'Minnesota,
acknowledges' itself to' owe and "for "valu.e received hereby'
promises to pay to bearer the'sum "6f-One`Thousand'Dollars
($1;000.00) on 'the 'firstday 'of 'June; 1q..'..-together with
interest thereon from the 'date hereof - until' "paid -; at the
rate of :..... per qq@qr annual ayable semi - annually
on the first days or tnte and" 44i, iri each" -year, as evidenced
by and upon the presentation -and su.rrender-of'the annexed interest
coupons as -they severally become'due. ''Both principal and interest
of this bond are payable in lawful'moriey -of "-the United States
of America at the office of the Commissioner of "Finance in the
City of Saint Paul or at the Fiscal'Agent of the'City-of Saint
Paul, in' either Saint Paul," Minnesota, 'or'- New " York, ' New York,
at "the option of-the holder; and for -the- prompt' payment of
this bond, both principal and interest; at matu.rity;'the faith
and credit of the City of Saint Paul are hereby irrevocably
pledged.
19 ,88
-5-
"This bond is one of a series •amouriting , iri the
aggregate to the sum of Four Hundred Ninety- five•Thousand
Dollars" ($x+95, 000 ) issued by the City of • Sairit- Paul for
the purpose of•procurement by said-City of funds for the
payment on account of said City's share of the cost and
expense of the acquisition of land for•and•the erecting,
equipping,-and furnishing of a Joint City-and County
Public Hospital and a Joint City and County Nurses' Home
of the City of Saint Paul and the County of Ramsey; in the
State of Minnesota, thereunder, and in accordance with the
provisions, terms, and conditions of•Chapter 938,_Session
Laws of Minnesota for 1957. This bond is 'issued'pursuant
to Ordinance No. 11555, enacted'by the Council of said City,'
and duly signed, attested, approved and published'in the manner
required by the Charter of said City, -and authorized by said
Chapter 938, Session Laws of Minnesota fo"r 1957," also "by
Resolution of said Council No. 196868 passed and approved
April 27, 1960, and under authority of and in all respects
in full compliance with Section 217 -of the Charter of the
City of Saint Paul and such other sections thereof as'may
be applicable thereto, and Chapter 475, Minnesota Statutes
1957, as amended.
"It is hereby certified and recited that-all things,
acts and conditions required by the Constitution and laws
of-the State - of Minnesota and -the ` Charter of, said City to
happen and be done and performed preeedent'to•and in the
issuance of this bond have happened and been'done and
performed in regular and due form`and' time as required by
law, and that the total "indebtedness of said-City, including
this bond, does not exceed any constitutional, statutory, or
charter limitations.
"IN WITNESS WHEREOF, the said City of Saint Paul, by its,
Council, has caused this bond to be'sealed by the facsimile of
its Official Seal, lithographed thereon, to "be signed by the
lithographed facsimile signature of its Mayor, attested by.the
lithographed facsimile signature•'of its City Clerk; and counter -
signed'manually by its Comptroller, and each of the interest
coupons hereto attached to be executed by the lithographed
facsimile•. signatures of said officers, this first day of June,
1960.
.............................
Mayor
Attest :...........................
City Clerk
Countersigned ...• :.....::...'.�....
ft't7 Comptroller
r
-6-
"COUPON
No.......................
June. ... ........
On the first day
19...... the `City'of*Saint'PAul; Minnesota; promises to
pay to bearer :..........:.- ..:.::....::.: :.::.Dollars
($..........) at the office of the Commissioner -of
Finance in the City of Saint Paul,'or at-the Fiscal Agent
of the City of Saint Paul, in either Saint''Paul,'Minnesota,
or New York, New York, at the option"of the holder, for
the interest due that day off► its'Joint'Hospital Facilities Bond,
Series No. 2, dated June 1, 1960. No.......
Mayor
Attest:.
City Clerk
Countersigned :.. .' ...: :. :::`.....
=ty Comptroller"
RESOLVED FURTHER, that 'each said bond shall be sealed by ' the -
faesimile of" the Official Seal of the" City -of Saint `Paul lithographed
thereon and signed by -the lithographed Pacsimlle signature of the Mayor,
attested by'the lithographed 'facsimile -signature "of the'City Clerk and
countersigned manually by'the City Comptroller -in*acaordanae "with
Chapter 422; -Minnesota Laws of 1951, and`S6dtibh, 475.55 Minnesota
Statutes tated, and- the interest eouporis 'thereto attached shall
be execute he lithographed facsimile signatures of said officers.
Adopted by the Council - N?R 2
Approved
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