178672 Original to City Clerk •
CITY OF ST. PAUL COUNCIL 1
OFFICE OF THE CITY CLERK c ,,Ti I
LCOULOLUTIONGENERAL FORM . o
- Saint papl' �a kt�owa
PRESENTED BY Council Tde 1Qo:]?8112.
C
PRESENTED IONF DATF 1. tom .,ap.+-AM .0-1..Z TSi i$
WHEREAS, the Council of the City of Saint Paul, by its resolution
known as Council File No. 178112, approved June 1, 1956, as amended
by its resolution known as Council File No. 178364, approved June 19,
1956, authorized the issuance and sale of bonds of the City of Saint
Paul in the amount and par value of One Million Dollars ($1,000,000.00)
for the preserving of the Permanent Improvement Revolving Fund of the
City of Saint Paul and the application of the proceeds thereof to
the purposes of the preserving and replenishment of said Permanent
Improvement Revolving Fund; and by its subsequent resolution known as
Council File No. 178454, approved June 21, 1956, provided the form,
date of maturity and other essential characteristics of the same,
and or the issuance and sale of said bonds in said par value amount
and for said purposes, all by virtue of the authority thereby conferred
and in full compliance with Sections 217 and 278 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;
and
WHEREAS, Chapter 475, Minnesota Statutes 1953, as amended, provides
that the governing body of any municipality issuing general obliga-
tions shall, prior to the delivery of the obligations, levy by less
lution 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 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 paymentb-; on the
obligations, and said law further provides that said resolution shall
create a separate sinking fund, or a special account in the munici-
pality 's regular sinking fund, for each issue of obligations, and
shall irrevocably appropriate the taxes so levied and any special
assessments or other revenues 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 One Million Dollars ($1,000,000.00)
•
•
-t-
in bonds so issued, when and as thLsame 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 for the
payment of said One Million Dollars ($1,000,000.00) of said bonds,
the following direct annual irrevocable taxes, to-wit:
For the year 1956 a tax sufficient to produce the sum of
$12,500.00 for interest, and the sum of $625.00, being at least 5%
in excess thereof;
For the year 1957 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1958 a tax sufficient to produce the sum of
25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1959 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1960 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,2$0.00, being at least
5% in excess thereof;
For the year 1961 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1962 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1963 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1964 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1965 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1966 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
N",,p
-3-
For the year 1967 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1968 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1969 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1970 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1971 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1972 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1973 a tax sufficient to produce the sum of
$2.5,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1974 a tax sufficient to produce the sum of
$23,000.00 for interest, and the sum of $1,250.00, being at least
5 in excess thereof;
For the year 1975 a tax sufficient to produce the sum of
$25,000.00 for interest, and the sum of $1,250.00, being at least
5% in excess thereof;
For the year 1976.a tax sufficient to produce the sum of
$1,012,500.00 for principal and interest, and the sum of $50,625.00,
being at least 5% in excess thereof; and be it
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 funds of -s*id 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, for said obligations
and that the taxes received for the payment thereof are hereby ir-
revocably 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 4?5,
Minnesota Statutes 1953, as amended, and that the tax levy required
for the purpose has been made, and 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 1953, as amended;
and 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 Adopted by the Council- 5 195s 195-
r Yeas Nays
{ DeCourcy 19?"
•
Approved 195..
Marzitelli .
Tn Favor /
lug ..��.�. ,. . . . v
Peterson o Mayor t,
Rosen Against
Mr. President, Dillon
6.86 2 PUBLISHED, ,
8�
Duplicate to Printer 1:74)"72
COUNCIL
CITY OF ST. PAUL FILE NO:
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
WHEREAS, the Council of the City of Saint Paul, 10Y' its resolution
known as Council Pile No. 178112, approved June 1 1956, as amended
by its resolution known as Council File No. 178364, approved June 19,
1956, authorized the issuance and sale of bonds of the City of Saint
Paul in the amount and par value of One Million Dollars ($1,000,000.00)
for the preserving of the Permanent Improvement Revolving ?und of the
City of Saint Paul and the application of the proceeds thereof to
the purposes of the preserving and replenishment of said Permanent
Improvement Revolving und; and by its subsequent resolution known as
Council File No. 178454, approved June 21, 1956 provided the fork,dattia of maturity and other essential charaoteristies of the same,
and. for the issuance and sale of said bonds in said par value amount
and for said purposes, all by virtue of the authority thereby conferred
and in full compliance with Sections 217 and 278 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;
and
WHEREAS, Chapter 475, Minnesota Statutes 1953, as amended, provides
that the governing body of any municipality issuing general obliga.
tions shall, prior to the delivery of the obligations, levy by reso-
lution 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-
mente and other revenues pledged for the payment of said oblig. Lions,
will produce at least fire per dent (5%) in excess of the amounts
needed to meet, when due, the principal and interest payment „gin the
obligations, and said law further provides that 'said resolution shall
create a separate sinking fund, or a special account in the munici-
pality 's regular sinking fund, for each issue of obligations, and
shall irrevocably appropriate the taxes so levied and any special
assessments or' other revenues 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 One Million Dollars ( 1,000,000.0,
JUL 51956
COUNCILMEN Adopted by the Council 195_
Yeas Nays ,t
DeCourcy
Hulrifi`" `"' Approved 195-
Marzitelli
rtnson____ Tn Favor
Peterson Mayor
Rosen Against
Mr. President, Dillon
SM 6.56 2
For the Year 1967 a tax sufficient to' prod use the sum. of
,000.00 for interests and the sum of $1,2$0*00i being at least
554 in excess thereof
For the Year 1968 a tax sutticient to' pr#dooe the sum of
,000.Oo for interest,• and ' the sum of $1,250.000 being at 1eaet:
5 in excess thereof;
Per the Year 1969 a tax sufficient to'prodnoe the sum of
$2,5,000,00 for intereat, and the sum or $102$0.00, being at least
in excess thereof;
For the Year 1970 a tax sufficient to"preduee, the sum of
$25,000.00 for interest, and the eum of i,2$0.00, being at least
5% in excess thereof;
For the Year 1971 a tax sufficient o'produce the SUM of
�0 . for interest, and t ;e sum 1, 50. ., being at as
14 exCess thereof;
For the year 197 a tax sufficient to. Produce .tbe sue of
$25,000.00 for interest and the sum of $1,250000, being at least
5% in *neeee thereof
For the year 197, a tan sufficient to promote the wum of
.€O for interest, and the sum of 1,2 .00, being at least
� n excess thereof;
For the year 1974 a tax sufficient to produce the sun or
#25,000400 for interest, and the sus of $1,2$0400, being at least
%in excess thereof;
For the year 3.975 a tc.t Sufficient te produce the sum or
$.15,000.00 for interest, and the sus of 1,Z5o.. , sing at least
5% in expose thereof;
For the year 19761a tax sufficient to prod ;te the sum of
#1,0141000.00 for prtnc .pa . and interest, and the sum of $50,62$.00,
, 2500,
being at least $ it excess thereof; and be it
FURTHER BES0h , That in the event any principal and interest
come due prior to the receipt of the proceeds of said taxes', it shell
be Paid promptly Win due, ' out of the general fie ofterlid City of
Saint Paul, and reimbursement therefor shall be made shish said taxes.
shall have been received; be it
FARTHER 0g40LVED, ltst there shall be created a separate sinking
fund, or a social account in the sinking fund, for seta, .obilgat .o
and that the taxes reeeivod for the pa, ent thereof are her a"by .ice
re'►oc bly app dated to said account, and IthHat the City Clerk be
and IS he by instructed. to File in the off oe, of the County auditor