196671issuance and sale by said City of Saint''
{ Paul of $2,000,000 par value of the
ORIGINAL TO CITY CLERK • - t �bond� of Said City authorized t0 be
+' CITY OF ST. PAUL andebyavidrtuel of s sad City
OFFICE OF THE CITY CLl�575, for the procurement by said City
/ a'n1,$d #ional� funds^in�thet sum of
COUNCIL R,5SO- UTION— GENERAL, 9h 1" p. ='P °Se of
PRESENTED BY
COMMISSIONI
TE
WHEM -S. the Council of the City of Saint Paul, pursuant to
the provisions of Ordinance No. 11575, adopted by the Council and approved
by the Mayor October 1, 1959, and ratified by the electors of the City of
Saint Paul at an election held November 3, 1959, did, by Resolution C. F.
No. 196929, approved May 3, 1960, as amended by Resolution C. F. No. 197031,
approved May 10, 1960, authorize the issuance and sale by said City of
Saint Paul of $2,000,000 par value of the bonds of said City authorized
to be issued and sold by said City under and by virtue of said Ordinance
No. 11575, for the procurement by said City of - additional funds in the sum
of 12,000,000 necessary for the purpose of said City's acquisition of funds
necessary for its accomplishment of several essential parts of several of
the improvement purposes for which such bonds, ks aforesaid, were authorized
to be issued and sold, to -wit:
- "For the purpose of acquiring school sites and grounds,
and constructing and equipping of new school buildings
and additions to existing school buildings, and for the
purpose of the reconstruction, repair, betterment,
remodeling and equipping of existing school buildings."
said bonds being designated as "City of Saint Paul School Improvement Bonds,
Series 1960 A"; and
WHEREAS, Chapter-475, Minnesota Statutes,1957, as amended, provides
that the governing body of any municipality 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 be
spread 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 amount °;3� =:
needed to meet, when due, the principal and interest payments on the obligations,'
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; ,a '
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
COUNCILMEN Adopted by the Council 19—
Yeas' ; Nays
4,
DeCourcy
Holland
Loss In Favor
Mortinsofi
Peterson
Rosen Against
Mr. President. Vavoulig
I
aM a•eo oQpo. 2
RESOLVED, that for the purpose of providing for the payment of
the principal and interest upon the said $2,000,000 in bonds so issued 1
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 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 $2,000,000 of bonds, the following direct
„•,; annual irrevocable taxes, to -wit:
�0 TAX REQUIPD BY
CHAPTER 4?5
' Yx= •?'; .. ' r 'MINNESOTA -STATUTES <
'AMMMED,,r . • h
•• ,vr .,. .iL1.C1A_ L`A/F, 181'111 °:INS
BUDGET- -- TAX FOR ,TAX b'OR EXCESS. OF: PEINCIPAL�, TOTAL
YEAR INTEREST ..PRINCIPAL AND INTEREST BAWLE TAX
1960 _ 34,000 1;700 35.700
1961' -- 68, 000- 3, 400 71, 400
1962 68,000- 3,400 .71,400
1963 67,320 4o,000- 5,366 112,686•
1964 65.960 4o,, 000 59298 1119258
1965 649600 - .46,000 '5,230 109,830
1966 63,240 Wow 5,162 108,402
1967, 61, °880 4o, 000 - 5,094 lo6, 974
1968 60,520' 40,o00 5,026 105,546
1969. 59,160 000. _ -4,958 __, lo4,118
1970 57,46o, 60,000 59873 123.333.
1971 55.420 6o,0oo 5.771 1214,191
X972 53.380 6o.000 5,669 119,049
4973 51.340 6o,000! 5o567 116, 907
1974 49,300 6o,000 5,465 114,765
1975 47,260 6o,000 5063 112,623
1976 45,220 60,000 5,261 110.481
1977 42040 80,000 6,142 128,982 :' #
19 78 40,120 80,000 6,006 126,126;,; !
1979 37, 5
400 80.000 ,870 123,270''
1980 34,680 80;000 59,734 1209414, 1
1981 31.960 809000. 5,598 117,358 ; f
1982 29,24o 800,000 5,462 1149702
1983 26,520 8o,000 59326 111,846
1984 23,46o 100,000 69173 1291,633
1985 2o,o6o 100,000 6,003 1269063
1986 169660 100,000 %03 1229493 `
1987 13,26o 100,000 •5,663 1189923
1988 9,860 1001,000- 59493 1159353
1989 6,12o 120,000 6,306 1329426
1990 2, 040 ".1209000 `" 6,102 1289142
- r
-2-
ORIGINAL TO CITY CLERK
" CITY OF ST. PAUL COUNCIL
OFFICE OF THE CITY CLERK FIDE NO
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSION
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 reimbursement therefor shall be made when said taxe's 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
instructed 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, tba� before the said bonds shall be delivered to
the purchaser, the Council of the City of Saint Paul shall obtain from the
County Auditor end de�iver 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<o_ther 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.
JUN 21 1960
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Decourcy JUN 211960
Holland ,�A pnrnvwr� — 19
Loss �G '
�
Mortinson In Favor
Mayor
Peterson ✓✓ li
Against
Mr. reY siden
aM a -60 Q810.2
-3-
STATE OF MINNESOTA )
(SS
(AUNTY OF RAMSEY )
/ �-7 1-,7/
:)FF iGr , ►:.t0
OF `'1'�
CERTIFICATION AS TO TAE?&Y
AND REGISTRY OF BONDS UPON
COUNTY AUDITOR'S BONE 1gFGT&,t PM 2. 00
i;IT�i Vi.tFZi�
Ii, 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 22nd day of June, 1960, a certified copy of Council File
No. 197671 adoped June 21, 19609 by the City Council of the City of
Saint Paul levying taxes for $2,000,000.00 School Improvement Bonds,
dated June 10 1960, 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. 303 and,that such tax
for the payment thereof has been levied as required by law.
WITNESS, my hand and official seal this 23rd day of June, 1960.
A. MCNICK, County Auditor,
Entered in Bond Register this
23rd day of June, 1960.
- aiP