Loading...
194318ORDINAL TO CITY CLERK 'y d s � P PRESENTED COMMISSI OFFIC COUNCIL R Council File No. 194318 —By Milton i Rosen — -i Whereas, The Council of the City' of Saint Paul, pursuant to the pro- visions of Ordinance No. 11322, adopted II by the Council and approved by the; Mayor October 3. 1958, and ratified by the electors of the City of Saint Paul at an election held November 4, 1958, tM did, by Resolution Council File No. 193755, approved Au ust 27, 1959, as 1 n ATP 194318 COUNCIL NO. FILE WHEREAS, the Council of the City of Saint Paul, pursuant to the provisions of Ordinance No. 11322, adopted by the Council and approved by the Mayor October 3, 1958, and ratified by -tae! electors of the City of Saint Paul at an election held November 4, 1958, did, by Resolution Council File No. 193755, approved August 27, 1959, as amended by Resolution Council File No. 193839, approved September 4, 1959, authorize the issuance and sale of Three Million Five Hundred Thousand Dollars ($3,500,000) par value bonds of the �y City of Saint Paul for the purposes of extending, enlarging, improving and bettering the Water Works System owned and operated by said City, being designated as Water Works Bonds, Series 1959 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 assess- ments and other revenues pledged for the paymeht of said obligations, will produce at least five per cent (5%) in excess of the amounts 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 munici- palityts regular,sinking fund, 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 RESOLVED, that for the - purpose of providing for the payment of the principal and interest upon the said Three Million Five Hundred Thousand Dollars ($3,500,000) in bonds so issued, when and as the same mature, and'for an additional direct tax in an amount not less than five per cent (5%) in excess of the sum required to pay such princi- pal and interest when the same mature,there is- hereby.levied,on all'of the taxable property in the City of Saint Paulin addition to all other taxes, a tax for the payment of said Three Million Five Hundred Thousand Dollars COUNCILMEN Adopted by the Council 19— Yeas Nays DeCourcy Rolland Approved 19- Mortinson Peterson In Favor Rosen Mayor Winkel Against Mr. President, Dillon PLT$LISjiED I b — I --I- 5M 5 -58 cOIROD2 - property in the municipality,- to ,be spread upon. the -�_ tax rolls for each year of the term of the obliga- tions; 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 amounts 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- municipalityts-regulax, sinking fund, for each issue of obligations,- and'shall irrevocably appropriate the ta)( ,s so levied and any- - special assessment or other revenue so pledged to that fund or account; now therefore be it ` RESOLVED,-that for the purpose of providing for the payment of the principal and interest upon the'said Fifty -five Thousand Dollars ($55,000)-in - bonds so-issued, when and as the same mature, and, $ for an additional direct tax ;in an amount not less than five per cent (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-fox the payment -of said Fifty -five ' Thousand Dollars ($55,000) of bonds, the following direct annual irrevocable taxes, to- .wit:- - ORfGINAL, TO C&TY CLERK - V. i PRESENTED BY COMMISSION CITY OF ST. PAUL OFFICE OF THE CITY CLERK COUNCIL RESOLUTION — GENERAL FORM I n.Te COUNCIL NO. FILE 194318 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 taxes 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, fox-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 deliver 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. COUNCILMEN Yeas Nays DeCourcy Holland Mortinson .Retepffeir— Rosen Winkel Mr. President, Dillon sM 5.58 2 kT-n Favor J Against 41 _ Adopted by the Cou 0I 14 1959 19_ OCT T4 1959 Approved N 19— \ r Mayor v i STATE OF MINNESOTA ) (SS COUNTY OF RAMSEY ) CERTIFICATION AS TO TAX LEVY AND REGISTRY OF BONDS UPON COUNTY AUDITOR'S BOND REGISTER I. the undersigned, being the duly qualified and acting County Auditor of Ramsey County, do hereby certify that there was filed in my r office on the 15th day of October, 1959, a certified copy of Council File No* 194318 adopted October 14th, 1959, by the City Council of the City of Saint Paul levying taxes for $395009000.00 Water Works Bonds i Series 1959A dated September 1, 19599 as the same fall due and to pay r and discharge the principal and interest thereof at maturitye ; It is further certified that pursuant to Section 475.63 Minnesota r Statutes Annotated that said bond issue has been entered and registered i upon the County Auditorts bond register File No* 278 and that such tax for the payment thereof has been levied as required by law* WITNESS, my hand and official seal this 16th day of October,;1959* MONICK, County Auditor Entered in Bond Register this 16th da of October, 1959* POST OFFICE DEPARTMENT PENALTY FOR PRIVATE USE TO AVOI4- OFFICIAL RUSIN[SS PAYMENT OF POSTAGE, S300 POSTMARK OF DELIVERING OFFICE N INSTRUCTIONS: Fill in items below and com- Ln plete, #1 on other side, when applicable. Moisten gummed ends and ch to back of article. Print RETURN On front Of-artiCle E RN RECEIPT RE ESTED. TO REGISTERED NO. N E OF S D r / �1 j & "". CERTIFIED NO. S ETA Nq, OR P O BOX LL INSURED NO. CITY, STA 0 O a C55— I6- 71545.4 REGISTERED NO. Value #.___C r/__ Spm defy fee Fee $___— v_______ Ret receipt fee Surcharge $ --- - -------- Rest. del'y fee Postage $__ ©__7____ ❑ Airmail From- -- - - -- - - - - -- �I— -------------------------------------- - - - -- - -- - -- ------------------------------------------------ To POD Form 9806 c 16 -70198 Sept. 1955