09-30Council File # 09-30
Green Sheet # 3065597
RESOLUTION
Presented by
F SAINT PAUL, MINNESOTA
1 RESOLUTION GIVING PRELIMINARY APPROVAL
2 FOR THE ISSUANCE OF GENERAI.. OBLIGATION
3 CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT
4 NO`I' TO EXCEED $I5,500,000 (Fire No.l and 10 and Administration Project)
5 WHEREAS, the City of Saint Paul, Minnesota (the "City"), annually adopts a Capital
6 Improvement Budget and Program in accordance with a local law, being Laws of Minnesota for
7 1974, Chapter 351, as amended (the "Local Law"); and
8 WHEREAS, the Local Law permits the issuance of general obligation bonds without an
9 election, but said bonds are required to mature within ten years; and
10 WHEREAS, the City for certain capital improvements would prefer to finance them with
11 bonds whose maturities exceed ten years and better match the useful life of the capital
12 improvements; and
13 WHEREAS, since 2003 a general law, Minnesota Statutes, Section 475.521 (the
14 "General Law"), permits the issuance of general obligation bonds without an election in
15 accordance with a capital improvement plan adopted under such law, and such bonds are
16 required to mature within thirty years; and
17 WHEREAS, the City's Capital Improvement Budget and Program comprehensively
18 addresses capital improvements and factors relating thereto over a five year period, but does not
19 necessarily address for each improvement all of the eight factors required by the General Law to
20 be considered; and
21 WHEREAS, as an aspect of its Capital Improvement Budget and Program the City
22 addresses in a portion thereof entitled "Minnesota Statutes 475521 Special Pucpose Plan" (Yhe
23 "Special Purpose Plan") all the factors required by the General Law to be considered for capital
24 improvements which are financed by bonds issued pursuant to the General Law; and
25 WHEREAS, the Council of the City proposes to issue again in 2009 its general obligation
26 capital improvement plan bonds (the "Bonds"), in 2009 in an amount not to exceed $15,500,000
27 for the conshuction of a new public safety building to replace fire stations #1 and #10 and to
28 provide headquarters for fire department administration; and
29 WHEREAS, the Special Purpose Plan already includes this project, and the City has
30 caused notice of the public kearing on the intention to issue the Bonds to be publisbed pursuant
31 to and in accordance with the General Law; and
32 WHEREAS, a public hearing on the intention to issue not to exceed $15,550,000 of
33 Bonds has been held on this date:
2120620v3
Council File # 09-30
Green Sheet # 3065597
RESOLUTfON
CITY OF SAINT PAUL, MINNESOTA
Presented by
1 NOW, THEREPORE, BE IT RESOLVED by the Council of the City of Saint Paul,
2 Minnesota, that the City hereby gives preliminary approvai for the issuance in 20Q9 of up to
3 $15,550,000 aggregate principal amount of the Bonds.
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Bostrom
Carter
Hams
Lantry
Stark
✓
Requested by Departrnent of:
By:
Ap iov by the Office of Finand a1 Services
By: �
Approved by City Attom
/i;
By: ,�` ,/i`�i� �, �� � l� S�/ f�
° -� �0
Adopted by CounciL Date
Adoprion Certifie by Couyicil SecretaryU
C
BY: //
Appioved by Mayo .� Date � � � O�
B �� � f-�y a �
Approved by Mayor for Sub ission to Council
s �'L�� �b� �.� �a- 3�-��
2120620v3
� Green Sheet Green Sheet
Green Sheet Green Sheet Green Sheet Green Sheet �
� I' ��
DepartmentlO�ce/COUncii: Date Initiated:
F -F;°a°Ga'SeN��s 3,-oE�-o8 Green Sheet NO: 3065597
Contact Person 8 Phone: Department Sent To Pecson InitiallDate
BOb GBUS 0 Fioancial Services
266$837 7 Pinaucia] Services Deoartment Director
, Assign 2 CiNAttoruev '
. Must Be on Council Agenda by (Date�: Number , , ,
' 07-JAN-09 ' For �, 3 �avor's Office illavodASSistanC
. Routing I 4 Council
I Doa Type: RESOLUTION ' Order ' S City Clerk City Clerk '
E-DOCUment Required: Y
Document Contact:
Contact Phone:
Total # of Signature Pages _(Clip All Locations for Signature)
Giving pceliminary approval for the issuance of General Obligation Capital Improvement Plan Bonds in an amount not to exceed
� 15,>00,000 (Fire No. 1 and 10 and Adminnistrafion Project.
Recommendations: Approve (A) or Re�ect (R):
Planning Commission
CIB Committee
Civil Service Commission
Personal Service Contracts Must Answer the Following Questions:
7. Has lhis person/firm ever worked under a contract for this depadment?
Yes No
2. Has this person/firm ever been a city employee?
Yes No
3 Does this person/firm possess a skill not normally possessed by any
cuvent ciry employee?
Yes No
Explain all yes answers on separete sheet and attach to green sheet.
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
Funding Source:
Financial Information:
(Explain)
Activity Number:
December 31, 2008 3:49 PM Page 1
i 7ransaction: CosURevenue Budgetetl: I
��-�b
NOTICE OF PUBLIC HEARING
ON INTENTION TO ISSUE GENERAL OBLIGATION
CAPITAL IIvIPROVEMENT PLAN BONDS (Fire #land #10 and Admin Project)
CITY OF SAINT PAUL
NOTICE IS HEREBY GIVEN that the City Council of the City of Saint Paul, Minnesota,
will hold a public hearing on Wednesday, January 7, 2009, at a meeting of the City Council
beginning at approximately 5 30 p.m., Central Time, in the Council Chambers of the City Hall,
15 West Kellagg Boulevazd, Saint Paul, Minnesota 55102, relating to the City's intention to issue
general obligation capital improvement plan bonds in an amount not to exceed $15,500,000
pursuant to an adopted capital improvement plan therefor. Such capital improvement plan is a
special purpose plan relating to the issuance of bonds, and supplements the City's regular 5-year
Capital Improvement Budget and Pxogram. The proceeds of the bonds will be used to finance a
capital improvement within the City pursuant to Minnesota Statutes, Section 475.521,
specifically to finance the conshuction of a new public safety building, which replaces fire
stations #I and #10 and provides headquarters for fire deparhnent administratian.
A copy of the documents proposed to be considered at the hearing will be on file and
available for public inspection at the Office of Financial Services, Room 700, City Hall,
Attention: Robert Geurs, Debt Manager (651-266-8837).
All interested persons may appear at the January 7 public hearing and present their views
on the intention to issue bonds orally or in writing. Individuals unable to attend the public
hearing may make written comments to Robert Geurs, Debt Manager, Office of Financial
Services, 15 West Kellogg Boulevard, Room 700, Saint Paul, Minnesota 55102. Written
comments must be received prior to the public hearing.
If a petition requesting a vote on the issuance of bonds, signed by voters equal to 5
percent of the votes cast in the City in the last general election, is filed with the City Clerk within
30 days after the public hearing, the City may issue the bonds only after the City obtains
approval of a majority of the voters voting on the question at an election.
/s/ Shari Moore
City Clerk
zz56z�s�z