190571ORIGINAL TO CITY CLERK 0
-� CITY OF ST. PAUL
OFFICE OF THE CITY CLERK
COUNCjlj RESOLUTION — GENERAL FORM
BY �. W - 7
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WHEREAS, the City of Saint Paul, by Ordinance No. 10849,
passed by the Council and approved by the Mayor October 20, 1956,
and as ratified and approved by a majority of the electors of said
City at the election held November 6, 1956, provided for the
issuance and sale of Six Million Dollars ($6,000,000) par value
in and of Waterworks Bonds of said City for the purpose of extend-
ing, enlarging, improving and bettering the Waterworks System owned
and operated by said City, and
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WHEREAS, heretofore the aggregate of Three Million Dollars
($3,000,000) par value of such authorized bonds were duly issued
and sold by the City of Saint Paul for the purpose of its acquisition
of the funds necessary for its accomplishment of the first portion
of the aforesaid extending, enlarging, improving and bettering of its
said Waterworks System under and as authorized by said ordinance
No. 10849 and the resolutions of the Council of the City of Saint
Paul pursuant thereto, Council File No. 188642, approved August 7,
1958, and Council File No. 188865, approved August 26, 1958, and
WHEREAS, it has been made to appear by the report and resolution
of the Board of dater Commissioners of the City of Saint Paul, and it
is found that at this time it is necessary that an additional and
final Three Million Dollars ($3,000,000) par value in and of said
bonds be issued and sold for the said purpose of extending, enlarging,
improving and bettering the Waterworks System, with all convenient
speed, as the Board of Water Commissioners of the City of Saint Paul,
by its resolution adopted January 7, 1959, has found and requested,
now therefore be it
RESOLVED, that the Council of the City of Saint Paul issue and
sell at this time Three Million Dollars ($3,000,000) par value in and
of said bonds pursuant to and in accordance with said Ordinance No.
10849; that said bonds shall be in denominations of $1,000 each; that
said bonds shall bear a rate of interest not to exceed six per cent
per annum, payable semi- annually on February 1 and August 1 according
to the coupons to be attached to said bands; that said bonds shall
bear date the first day of the month in which the same are sold;
COUNCILMEN
Yeas Nays
DeCourcy
Holland
Mortinson
Peterson
Rosen
Winkel
Mr. President, Dillon
5M 5.58 -OW2
7n Favor
Against
Adopted by the Council 19_
Approved 19_
Mayor
19 1571
that said bonds shall be in the form of serial bonds, a portion
of which shall be payable each year after issue; that the first
installment of said bonds shall come due one year 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; than no annual
installment of principal of any said bonds payable in any calendar
year after the dateof the same shall exceed five times the amount
of the smallest prior installment thereof payable in any calendar
year after the second calendar year; that the principal Three
Million Dollars ($3,000,000) par value of said bonds shall mature
serially commencing February 1, 1960, over said thirty year period
on the following dates and in the following amounts:
Date of Maturity
Bond Numbers
Amount
February
1,
1960
30698 -
30757
$60,000
February
1,
1961
30758 -
30817
60,000
February
1,
1962
30818 -
30877'
60,000
February
1,
1963
30878 -
30937
60,000
February
1,
1964
30930 -
31012
75,000
February
1,
1965
31013 -
31087
75,000
February
1,
1966
31088 -
31162
75,000
February
1,
1967
31163 -
31237
75,000
February
1,
1968
31238 -
31312
75,000
February
1,
1969
3,1313 -
31387
75,000
February
1,
1970
31388 -
31477-
90,000
F-ebruary
1,
1971
31478 -
31567
90,000
February
1,
1972
31568 -
31657
90,000
February
1,
1973
31658 -
31747
90,000
February
1,
1974
31748 -
31837
90,000
February
1,
1975
31838 -
31942
105!000
February-1,
1976
31943 -
32047
105,000
February
1,
1977
32048 -
32152
105,000
February
1,
1978
32153 -
32257
105,000
February
1,
1979
32258 -
32362
105,000
February
1,
1980
32363 -
32482
120,000
February
1,
1981
32483 -
32602
120,000
February
1,
1982
32603 -
32722
120,000
February
1,
1983
32723 -
32842
120,000
February
1,
1984
32843 -
32977
135,000
February
1,
1985
32978 -
33112
135 -,000
February
1,
1986
33113 -
33247
135,000
February
1,
1987
33248 -
33397
150,000
February
1,
1988
33398 -
33547
156,000
February
1,
1989
33548 -
33697
150,000
$3,000,000
2
J
Such bonds shall be denominated as Water Works Bonds,
Series No. 2.
RESOLVED FURTHER, that sealed proposals be received at
the office of the City Comptroller in the Court House and City
Hall in the Cit of Saint Paul, Minnesota, up to ten o'clock
A. M. (C. S. T.T on February 25, 1959, 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
paper of said City, and in the Commercial West, 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 and paid for when ready for delivery; and that
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 par
or better therefor, and at the lowest rate of interest, not
exceeding six per cent. That said bonds shall be in the follow-
ing fora which has been prepared by the Sinking Fund Committee
and approved by the Corporation Counsel of said City, and is
hereby approved and adopted:
"UNITED STATES OF AMERICA
S TAT E OF MINNESOTA
COUNTY OF RAMS EY
CITY OF SAINT PAUL
WATER WORKS BONDS
SERIES N0. 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 value received hereby
romises to pay to bearer the sum of One Thousand Dollars
(p$1,000.00) on the first day of February 19 ...... , together
with interest thereon from the date hereof until paid, at
the rate of ....... per cent per annum, payable semi - annually
on the first days of February and August in each year, as
evidenced by and upon the presentation and surrender of the
annexed interest coupons as they severally become due. Both
principal and interest of this bond are payable in lawful
money of the United States of America at the office of the
Commissione 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 maturity, the faith and credit of the City of
Saint Paul are hereby irrevocably pledged.
3
19! ) 571
"This bond is one of a series amounting in the
aggregate to the sum of Three Million Dollars ($3,000,000)
issued by the City of Saint Paul for the purpose of extend-
ing, enlarging, improving and bettering the waterworks
system owned and operated by the City of Saint Paul. This
bond is issued pursuant to Ordinance No. 10849, passed
by the Council of said City, and duly signed, attested,
approved and published in the manner required by the
Charter of the said City and approved by the electors of the
City of Saint Paul at the election held November 6, 1956,
also a resolution of saiO Council No. 190558, passed and
approved January 9, 1059, 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 1953, 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 precedent to and in the
issuance of this bond have happened and been done and per-
formed 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.
"SIN 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 countersigned 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 February 1959.
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor
Attest: ......................
City Clerk
Countersigned .....................
Comptroller"
4
ORIGINAL TO CITY CLKRK l .. 19f 1571
CITY OF ST. PAUL COUNCIL NO. «C/JJ/ 1
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER
DATE
"No.......
"COUPON
February
"On the first day of August 19......, the City
Of Stint Paul, Minnesota, promises to pay to bearer
... ............................... Dollars ($........)
at the office of the Com®issioner o Finance in the City
of Saint Paul or at the Fiscal AgemW 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 on its dater Works Bond, Series No. 2, dated
February 1, 1959. No.
.............................
Mayor
Attest: .....................
City Clerk
Countersigned ........................
Comptroller"
RESOLVED FURTHER, that each said bond shall be sealed by the
facsimile of the Official Seal of the City of Saint Paul lithographed
thereon and signed by the lithographed facsimile signature of the
Mayor'-attested by the lithographed facsimile signature of the City
Clerk, and countersigned manually by the City Comptroller in accord-
ance with Chapter 422, Minnesota Laws of 1951, and Section 475.55
Minnesota Statutes Annotated, and the interest coupons thereto
attached shall be executed by the lithographed facsimile signatures
of said officers.
ai i 13 1959
5
COUNCILMEN Adopted by the Council 19_
Yeas Nays
DeCourcy
I � : n +1 " I 1 u 10) 1959
Holland
Approved 19_
Mortinson
Peterson Favor
Rosen Mayor
Winkel 6 Against
Mr. President, Dillon
514 5.58 .O!WQ