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191412ORIGINAL TO CITY CLERK 191412 CITY OF ST. PAUL FILLEUNCIL NO. OFFICE OF THE CITY CLERK COUhrJL_RESOLUTION— GENERAL FORM PRESENTED BY COMMISSIONE�'75� DATE RESOLVED, That the Common Council of the City of Saint Paul hereby approves: "A BILL FOR AN ACT PERTAINING TO THE CITY,OF.' SAINT PAUL, AUTHORIZING RECONSTRUCTION, ENLARGE= MENT AND ADDITIONS TO ANY STADIUM PRESENTLY OWNED AND OPERATED BY THE CITY OF SAINT PAUL. AND PRO- VIDING FOR THE ISSUANCE OF REVENUE BONDS 'TO DEFRAYTTHE COST THEREOF; PROVIDING AUTHORITY TO THE CITY TO PLEDGE THE INCOME FROM ALL THE OPERATIONS OF SUCH STADIUM FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST OF REVENUE BONDS SO ISSUED; AND EMPOWERING THE CITY TO MAKE SUCH COVENANTS, WITH THE BONDHOLDERS AS MAY BE NECES- SARY FOR THE - SECURITY AND PAYMENT - OF SUCH REVENUE BONDS AND THE INTEREST THEREON." and recommends the same to the Ramsey County Senate and House delegations. COUNCILMEN Yeas Nays DeCourcy Holland Mortinson Winkel rMr. Prepident,,D4on ,�1��`s�✓i8ident lYetet�p� Council File No. 191412 -13y Severin A. Mortinson- Resolved, That the Common Council of the City of Saint Paul hereby approves: 'A BILL FOR AN ACT PERTAINING TO THE CITY OF SAINT PAUL, AUTHORIZING RECONSTRUCTION, ENLARGEMENT AND ADDITIONS TO ANY STADIUM PRESENTLY OWNED AND OPERATED BY THE CITY OF SAINT PAUL AND PRO- VIDING FOR THE ISSUANCE OF REVENUE BONDS TO DEFRAY THE COST THEREOF; PROVIDING AUTHORITY TO T HE CITY TO PLEDGE THE INCOME FROM ALL THE OPERATIONS OF SUCH STA- DIUM FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST OF REVENUE BONDS SO ISSUED• AND I EMPOWERING THE C I T 7� TO MAKE SUCH COVENANTS WITH THE BONDHOLDERS AS MAY BE NECESSARY FOR THE SECURITY AND PAYMENT OF SUCH REV- ENUE BONDS AND THE INTEREST THEREON." and recommends the same to the Ramsey County Senate and House delegations. Adopted by the Council March 19, 1959. Approved March 19, 1959. (March 21, 1959) Tn Favor A gainst MAR 191959 MAR 191959 Approved 19— Jating Mayor DUPLICATE TO PRINTER 91 412 �... CITY OF ST. PAUL COUNCIL NO. OFFICE OF THE CITY CLERK COUNCIL RESOLUTION — GENERAL FORM PRESENTED BY COMMISSIONER DATE RESOLVED, That the Coon Council of the City of Saint Paul hereby approvet #A BILL FOR AN AC's PERTAINING TO TIE CITY OF SAINT PAUL, t AUTHORIZING- RBC=.TRt=10N, ' �Eo► AI AND ADDITIOM, TO = STADIUM PRESENTLY OWNED AND OPERATED, BY THE CITY OF SAINT PAUL. AND, PRO- VIDING FOR. THE; ISSUANCE OF REVENUE BONS TO fl -FRAY THE COST THEREOF; PROVIDING AUITI }RITY TO THE CITY TO PLEDGE THE INCOME FROM ALL THE OPERATIONS OF SUCH, STADITY4 FOR, THE PAYAWiT OF THE PRINCIPAL AND INTEREST OF REVENUE BONDS SO ISSUED; AND BERING THE CITY TO MAKE SUCH CMENAiT $ WITH THE BONDHOLDERS AS MAY BE NECES- SARY FOR THE SECURITY AND PAYMENT OF SUCH REVENUE BONDS AND THE INTEREST THEREON. # and recomends the same to the Ramsey County Senate and House delegations. COUNCILMEN Yeas Nays DeCourcy Holland Mortinson o $® Winkel Mr. President, Dillon Mr. Vi 2 sidcat w,.tcmal 5M 5.58 - '�n Favor .Against MAR 191959 Adopted by the Council 19— MAR 19 1959 Approved 19— Mayor A BILL FOR AN ACT -PERTAININ'G10 THE lV OF SAINT - PAUL i AUMORIZINQ REMNSTRWTIONo SNLAEtGWW _ _ AND ADDITIONS -TQ ANY STADIUM PRESWLr_ ow NEn. AND OPERATED BY THE CITY OF SAINT PAUL. AND PROVIDING FOR - THR ISSUE OF REVOWS BONDS' TO DEFRAY THE OAT THEREOF; ' PMVIDING AUTHORITY - s TO THE CITY_.'TO .PLEWE THE INOONH ^ FAOM ALL THE OPERATIONS OF SUCH STADIUM FOR THE FARM Nr OF THE PRINCIPAL AND 'INTEREST OF REVENUR BOI '30, ISSUEDs . AND EMMWMING .THR CITY TO KW,8 - s= - COV' iii TS . WITH THS SON MOLDERS DERS AS -MAY BE iii $S" °ARY FOR THE SLCURITY AND PAyM . T OF � REVENUE BONDS. AND MIS. $NTRREST,.'THERSON, BE IT ENACTED " BY THS . WISLATURE OF THE STATE OF MINI��t�TA 3 ti Section 1, The City-of .Saint Paul is horeby authoVised to reconstruG.ts enlarq*; And add to any stadium presently - owned. and _ operated by it. And to r` purpose of defraying thw cost of sueh raconstrv. ti0ht QPXSrgeMent and additioo to 'Such stadium t6' issue ' seven* bondt of 'the City of ,Saint Maui. . Esc. 2. By resolution ,of .thy governing body of the City of Saint Paul; the Ctty',Of Wnt Paul sha►11 have pa*ezr to issue b raven® bogs for the purp�rse of reconstvuotlono ,e_nlarrgoment and addition to any such presintly owned' and o0orited stadium* includ- ing all costs ' in corun action with and incidental to Such 'reconstruc- tion, enlargement .,and additionn# and the financing th,etaof . Said revanue bonds shall have,.ail ' the . qualities of negoti.abla- instruments and shall bo secured 041V' bye a -plsdg� - of -end a 149h on the total . Xevanues of such Atadi : derii 0- -a L► �an�sla, f �r+ei r ezhargea or other 'rsvonejas from the ownopship 'Sind - opQratiQn of-such stadia after p1tovis 0 i only f . ysa`sonob- i# coot'.of o_perati�g, " maintaiin - , _ - y . r airing, urtng . S_n h ®r be 'secured -. by the pledge anal covenant of the governing 'body, of the City (4 Faint Paul to maintain such rates or :chsrgas In the. oporstion of . the - stadim as will produce tevenuas sufficient to meet costa of ' - ' operoting.. iAiritainiog`, °enc rop�ilrir� air h at .um -o to meet' the . Int ftest and prineip4l- 'ra4utrsmente of *Uoh bond$ -and to .W41a .leh" Ond mai ntel:xi. raseiyoo fo ` th- J."g purposes. F Leo.`. 3: ohs city, o t .' i is auttiaried 6d y, f Satin aU hereby- a empowered to make s4ch- jgreeza'anta , -nd eaVon& nts with '��e.. holdiis o =such` evenu® bonds, as authorlOd In toottosy l. thereof , as MAY be neoeaa�ryr fear the sscur.ity and �th�► payaaent. pf the prin�tipal �►f enr3 interest• �on- euoh, raV,enup: bonder • _f , ln- 04" disdretion of the goysrning - b ' dy of the ' -city a feint Paulo sraeb - revohuo, bonds as- ere her - 6j nobovo 4uthor= 4 i,ted May ba seoured by,-O trust agreeme'W botaon the `City of Saiot :. Poul "'end a - .corporate truetea�, 4A t ti a inay be ;aiay tr t , tioa • 'pal y or bank, having powers of a. trust ECmpsny► Within- "aye without the State r' ' - .r . - a , r •t f _ - -r'• t .# - 'he_'trul st, eg.ao�aerit '04y �rav►ide -far 'the? pledg. ar �issfgr - -want 4f tt�e. rave. v$s 'to. Js iscoived, ..hut shall nvt ceii yay.. of ,art. #ge the stadia pr, soy improve Qr is' cil�:ty th,erst�n, nor" p�.edga 1the goner#i 'crodit 0 r ;taxlog ,pQS+.er of the City of 'feint poulii _ The r _ trust agree meat -- 4r the - r000lution a the gov�o ning `body Qf the City - of Stint PAul ' .p ovid�.r% for, the iss4.enca of revs ►ue bends may :set torth the rights ranch, $emidie*, oU the beindholders and tri�steo� ,an 9 -may contain such- .other-, provis ens for protecting and. enf orcina • their �righta and: r6rs$die :# a:' are- i =n• the dj *cretJFoin of the pity nun l.i T reasan>r<b1.a and pr�pArs such agreement' or. raeolution Wi6y provide . usto 0. Mont ; of i�pone e dsr3sed for the. o from' the sale, of. such ­ boners; and may proof dQ for the. depasit' of: ; �eh ftihds p4eiaant tip *46h : sgaeemant 7b t'- the :.gvarn batly .off the ° City arr<d .4ny,such ttuist6e. Said revenue bonds shell bear . interest at not ,to exooad =�tis� 4 ` } per oetit �por. annum, `ahalf. o tu�ro = within thirty �reaa�# �rc��n er�d After ,� - - � ;�h� d�t� `.o #. is.eusnce: �hd :�n.1 �i�t�h! s�na�nt,� =ate se�oh� time; �hcl �,n : ��eh _ � - . . - � -- �ui�hki ®� -_9�., in*t+�l�.�i�nts " �s =�ni�y ba - p�ov3d�d. inn -�h= ®_ r�so�.u�icn �uthor� " • - •ix�.n$_�.�h�_ir r�.s�up�ric� -��c� ri�sa�:�tio� shall -�1�fl �psovd'� -for -thy � � -" _ _ � . '.- • � � execution u�d `ee�rlin��of���ti�_�boii�ds. •arid �•�h�' use of �acsi�i�® s�Qna -. , . ` •tu�E�. 'Tend = -���� the t�ihn8� cif �i�li' o��• the bai�d��. enc� au�ch 0��78�:, -v ..._ _' _ . _ " - tees- and �..ccndi'�i�ns, xelat�.va . ta- -the isapua�,4e, �sa1e aru� 'ri�t�.rem�nt� �- • .Y y- • = • "af 3 3��:d�•_bonde a� �tii���govsrn�:ng body, �n _th���, di #cr�it3r�i�- bel�:eve� ~ �� 1 � -. - _ �- �esao�abl� ��nd prap�s= � p�av�ded:,'.that �Q. su�Ch� .sale shell be_ snide , - . � . �•- _ -. -.at- each p�c� =ss'�vrauld,:_ re�ui�� ����ym�rit��o� int ®refit on th,e- :money --, -_ • - - _ _ � race�.ved fog e;uch _bola. =at -�ori- :then - xis � p.a� � cent `per - ainnum� Com-� -- - . � .�''- plated °�iith ��l�ton� tv tti�� �bsc�]a��e:'.�aturity •Q�-, the bolds' in accord- .: - ; �: - , - � - ; _an�e: r�ith etar�derd .t�ble�r off_ �bpnd" i_i��luss;:. ��s�lud��q ��om _each _tom- - - _' , � . " - utetlot� ,tie amount' off` any prsi�ti.imr t4 be _paid an reriss�tipn of anY _ �- � - - - such t�vhds s prior �t� s��t.'U���Y��� . �- �'� " �� - � _ "� - � . - - _ `_ . , .. _ � - . - - -. t - -_ -4 - `_ - . — � - _ _,_ . � _, - �ucn : �Qnd� � °stray .be = �e�.,xable � �r�d ° i�a Gal��bx� � � i�ond,a �al.]�a� -. ; - -- . _ -., n�. - inau�ffcient to pay mstuxing -- ' - � . -. mad be ref'u�dec�. , � I� rev ®_ t�e!_,,ps9'�'s -� _ - �, bdnds�, bonds. whl.ch- hx�re- .ir�turedy�:dr.�.�i�e- 'about Tta mature sr�y b�� r�- . _ • � • _ " .. , '. � vnaaa,. � exa ��� a�• he�s#�•na�ove .Y�,d# �t.�a:: ' � . Y - . - "• i - .. ' -, • , . _� �-' - "," - �e�: �� - �x�ept �s ho��ir- �aos4ified 4r'otherw��ie pr ©vidsc�� l ; , . � - -° - '° �vr�r tie • s�4�toris ag :Mririesota .BtatL�tes, Chapter 47�� sha�.l �App3y_. •, ,� � • - i ' Y. _ - � .�y ��e�c. t�.. �,.5uc'b- '.rpliahu�- Bondi_ s��i�l ccr��e3.n�on -�ii�r #xc�- t��re- , - - _ _ ;� _ - �o� � state_i�eht ��c .the ����ect that the ��i,tY c�� = Sa�.nt haul �s zaot�- . - _ .. -� - _ � cb13. � ated ��• ...a . ��the. �iinc`i. sl of • or the intere�.t on auc� bo:�d�► . _ . � � .. :. "'+except ��vsr� ;�titoh 'revenvies� received by'.the i�.y = frcr�: �11,�pei�aetion�i`� _ . -- _ = csrr�.ed. on in such; �:�ta.c�f�a�,•s.e�d : that n��th�� �Che fui,1 �����.t�. or the _ ' � , . � -� _ � - cr�d�.t of the -City, ��br its ry�gena�al tiix�.ng; .polder, is pledged tv -, . -�� - -y _ , "." , . f � �- � tt�e� �payrment: s�f. ��uch �x�i�oipa;'i- and`��ei�ah'. intar'a�t:' - ,� " ,- - � , _ _ _ - __ - : . _`. •- - �_ asc. �. Any �4uct� bq'hd� .issued by, the _City s}�all. not - b� - - - � ` - ,.,£ncltucie+��:i�► co ' �utijnV ,the' :filet �rsd�ktedn�t��` of the - C9.tny under ariy: :. _ �?. � _ , .� . ;-- appl.aable�.l+�w o.�. cti�irter ;p�okl�ot,�. ��h���a�eaaip� grid ��tAend�:tu�e... =: -� - � �1' _ ' - � -- fir' �' ..`� - L .: _ i '. � ' -' _ _c. - _ � _ .. _. 5 _ - -a � . _ - - - - -. - _ - l • _�-. � • - _ti • .Q �. � .. • • -. � - _ ar. _ -.. of an moneys rsc6ived: from the sale of °�si�ch bend ah 1i "not. be included u lthi► the d f i.nition of an . l - y- linf.tation imposed on. ";pes I oaptt* t4xing- or e p • pend ng in the charter of tho�City -of Saint Paul. Approval of .this Att =by 'A ma, ar3.tyY'of the Gov ►Fr - r = ing ,body of tha City of S *t it '.tau]. Is -required befgr®. this Aot v the 11 bjcgM6 ^qf factive. - _ '