197671( issuance and sale by said City of Saint
7 Paul of $2,0 par value of the "i
ORIG INAL TO CITY CLERK - } bonds of said d City authorized t0 be
+' issued and sold by said City under
CITY OF ST. PAUL
and by virtue of said Ordinance No. r
OFFICE OF THE CITY CL i X575, for the procurement by said City
.F &di adgi�� tonal�wunds^ in r the sum of
C NCIL O UTION —GENE .L, s i�l �' t ° _pt ose of
PRESENTED BY
Comm] SSIONE TA
WHEREAS, 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, a.s 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 Sant 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"
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
w sinking fund, or a special account in the municipality's regular sinking fund; w'
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
DeCourcy
Holland
Loss
Mortinsofi
Peterson
Rosen '
Mr. President, Vavoulis
5M 6 -60 2
Tn Favor
Against
4
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
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 ssme 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.
.
7 }'
TAX REQUIRM BY
CHAPTER 475
..MINNESOTA STATUTES
'
:.• �.' .:::.`i,•
;T .: } 1957. "gsED,,=
.�
BUDGET,
TAX FOR
.'TAX FOR
E7�CDSS.'or PRINCIFAI;�
`:1" TOTAL
YEAR
INTEREST
�PRINCIPAI,
AND INTEREST- PAYABLE
TAX
1960
1961'
34,000
68, 000"
t
19700
3, 000
359700
71, 000
1962
68,000.
3,400
.71,400
1963
67,320
4o,000-
5,366
112,686
1964
65,96x -
4o,, 000
,5, 298
1119258
1965
64,600
- 4a;,o00
59?30
109,830
1966
639240
4o,0oo
5,162
108,402
1967
64880
4o,000 -
5,094
1x69974
1968
60,520"
Wow
5026
1059546-
1969
59.160
_. , .; ,t1p..0o0. _..__.
4,958
1049118
1970 ,
57, 460
6o,000
59873
123.333 .
1971
559420-
6o,000
59771
1214'191
1972
53,380
6os000
5,669
119,049
.973
51,340
6o,000.,
5,567
116,907
1974
49,300
60,000
5,465
114,765
1975
47,260
6o,000
5,363
112,623
1976
459220
6o,000
5,261
110,481
1977
429840-
80,000
60142,
128098Z
1978
40,120
80,000
6,006
1979
37#400
80, 000
r5, 870
123, 276
1980
34,680
8o,o00
59-734
12o,414,-
1981-
31,960
809000.
59598
117,558
1982
29,240
80,000
59462
.
114,702
1983
26,520
80,000
59326
1119.846
1984
23,460
1009000
6,173
129.633
1985
2o,o6o
100,000
6,003
126,o63
1986
169660
100,000
5033
1229493
1987
13,26o
100,000
..•59663
118,923
1988
9,860
1009000
5,493
115.353
1989 -
6,12o
1209000
6,306
132,426
1990
2,040
".1209000
6,102
128,142
-2-
ORIGINAL TO CITY CLERK • J
' CITY OF ST. PAUL FIOENCIL NO. 1_97671 _
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION - GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
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, acid 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, 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 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-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.
n \
JUN 21 1960
COUNCILMEN Adopted by the Council 19—
Yeas Nays
DeCourcy JUN 211960
Holland 1 g
JL
Loss /
In Favor
Mortinson
Peterson f . J} Mayor
�_���,,�i \ Against
Mr. reP siden
ISM E -60 2 �...- rL.Q.�
-3-
STATE OF MINNESOTA )
(SS
CDUNTY OF RAMSEY )
/977/
jFt
OF CIT
CERTIFICATION AS TO TAQ&Y
AND REGISTRY OF BONDS UPON
WUNTY AUDITOR'S BOIJDIgFjGTF� PP^ 00
�T i, Cii.El�h
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 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 $290009000.00 School Improvement Bonds,
dated June 1, 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.
Entered in Bond Register this
23rd day of June, 1960.
A. MONICK, County Auditor,