188642NAL TO CITY CLERK FILE
CITY OF ST. PAUL COUNCIL NO�
OFFICE OF THE CITY CLERK Council File No. 188642 —By Milton
O CIL RESOLUTION — GENERAL FORM Whe eas, The City of Saint Paul, by
Ordinance No. 10849, passed by the
NTED BY Council and approved by the Mayor
IdTED B E DATE October 20, 1956, and as ratified and
4 approved by a majoFity of the electors
�'^ +
A t the election' held No-
o ,.... fFI .
VH RW, 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 ($6,0002000) par value
in and of Water Works Bonds of said City for the purposes of extendingi enlarging,
improving, and bettering the Water Works .System, owned and operated by said City,
and it has become and now is advisable and necessary that Three Million Dollars
($3,000,000) par value in and of said Bonds be issued and sold for said purposes,
with all convenient speed, as the Board of Water Commissioners of the City of Saint
Paul, by its Resolution adopted July 31, 1958, has found and requested, it is hereby
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. 108491 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 March 1 and September 1
according to the coupons to be attached to said bonds; that said bonds shall bear
date the first day of the month in which the same are sold; 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 thel.l come due in not
more than thirty (30) years from such date; that no annual installment of principal-
of any said bonds payable in iby calendar year after the date of 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 Pnnb1p&1- $3; 300,90.0
pdr:vbli e;;Qf;:said bonds shall mature serially commencing September 1, 1959, over
said thirty year period on the following dates and in the following amounts:
_ 1
Date of Maturity
Bond Numbers
Amount Principal
September 1,
1959
22197 - 22256.
$ 60,000
September 1,
1960
22257 - 22316
60,000
September 1,
1961
22317 - 22376
60,000
September 1,
1962
22377 - 22436
60,000
September 1,
1963
22437 - 22511
75,E
September 1,
1964
22512 — 22586_
75,000
September 1,
1965
22587 - 22661
753,000
September 1,
1966
22662 — 22736
75,000
COUNCILMEN
eas Nays
DeCourcy
Holland
Mortinson
Peterson
In Favor
Rosen
Winkel
Against
[r. President, Dillon
i 4IMP2
Adopted by the Council 19—
Approved 19—
Mayor
TO CITY CLERK
CITY OF ST. PAUL
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
J] (PRESENTED BY
+], COMMISSIONER DA
COUNCIL NO.
FILE
Date of Maturity (Cont.) Bond Numbers Amount Principal
September 1,
1967
22737 – 22811,
75,000
September 1,
1968
22812 – 22886
752000
September 1,
1969
22887 – 22976
90,000
September 1i
1970
22977 – 23066
90,000
September 1,
1971
23067 – 23156
90,000
September 1,
1972
23157 – 23246,
90,000
September 1,
1973.
23247 – 23336
90,000
September 1,
1974
23337 – 231+47.
105,000
September 1,
1975
23442 – 23546
105,000
September 1,
1976
23547 – 23651
105,000
September 1,
1977
23652 – 23756
105,000
September 1 ,
1978
23757 – 23861
105,000
September 1,
1979
23862 – 23981
120,000
September 1,
1989
23982 – 24101
120,000
September 1,
1981
24102 – 24221
120,000
September 1,
1982
24222 — 24341
120,000
September 1,
1983
24342 – 24476
135,000
September 1,
1984
24477 – 24611
135,000
September -1,
1985
24612 –2/+746
135,000
September 1,
1986
.2471+7 – 24896
150,000
September 1,
1987
24897 – 25046
150,000
September 1,
1988
25047 – 25196
150,,000
Total. $3,000,000
Such bonds shall be denominated as Water Works Bonds, Series No* 1.
RESOLVED FURTHER, that sealed proposals be received at the office of the
City Comptroller in the Court Haase and City Hall in the City of Saint Paul, Minnesota,
up to ten o'clock a. m.. (C.S.T.) on September 10, 1958, 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 d 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 the 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 - ii:]l pay par or better therefor, and at the lowest rate
of interest, not exceeding six per cent.
AUG 7 ,1958
COUNCILMEN Adopted by the Council 19—
Yeas Nays AUG 7 1958.
DeCourcy
Holland Approved 19_
Mortinson
berbon Tn Favor
Rosen Actin# Mayor
Winkel Against
•58 2