179636 Original to City Clerk
O11 9p 1 , . No. 17%36
ORDIIL L
ing for.the ktiri of the
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PRESENTED BY =E ° rP o aiela are; # t$e o!
' Saint P relative 10 .wall costal
An ordinance au •orizing and providing for the issuance
and sale of the bonds of the City of Saint Paul,
Minnesota, in an amount not to exceed the sum of
Five Hundred Thousand Dollars ($500,000.00) par value
for the purpose of paying the share of the City of
Saint Paul relative to the completion of the State
Capitol Approach, the buildings and the grounds thereto
as provided under the terms of Chapter 315, Session
Laws of Minnesota for 1945, as amended by Chapter 752,
Session Laws of Minnesota for 1955. This is an
emergency ordinance rendered necessary for the
preservation of the public peace, health and safety.
WHEREAS, under Chapter 315, Session Laws of Minnesota
for 1945, as amended by Chapter 752, Session Laws of Minnesota
for 1955, the City of Saint Paul was authorized by the State
Legislature to bond to the extent of Five Hundred Thousand
Dollars ($500,000.00) for the purpose of the completion of
the Veteran' s Service Building and the grounds thereto around
the Minnesota State Capitol, commonly termed the "Capitol
Approach Area," and
WHEREAS, it is necessary that the City of Saint Paul
obtain funds for the purpose of defraying its portion of the
expenses of said "Capitol Approach Area" ; therefore
THE CITY COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN:
Section 1. That the City of Saint Paul issue and sell the
negotiable bonds of said City in an amount not to exceed the
sum of Five Hundred Thousand Dollars ($500,000.00) par value,
for the purpose of paying the share of the City of Saint Paul
of the said "Capitol Approach Area" as provided under the
terms of Chapter 315, Session Laws of Minnesota for 1945, as
amended by Chapter 752, Session Laws of Minnesota for 1955.
Section 2. Said bonds shall be in the form of serial bonds,
a portion of which shall be payable each year after issue; the
first installment of which shall become due and payable in not
less than three (3) years and the last installment of which
shall become due and payable in not more than thirty (30) years
from the date of their issue. Said bonds shall bear interest
at a rate not to exceed six per cent (6%) , payable semi-annually,
and the Council shall fix the denomination of said bonds, the
form, the date and dates of maturity thereof. Both principal
and interest shall be payable at the office of the Commissioner
of Finance in the City of Saint Paul, or at the Fiscal Agency of
the City of Saint Paul, in the City of New York, State of New
p° York. The coupons attached to said bonds may be authenticated
by the engraved signatures of the Mayor and Comptroller. The
faith and credit of the City of Saint Paul are hereby irrevocably
Yeas Councilmen Nays Passed by the Council
DeCourcy
Holland
Marzitelli In Favor
Mortinson
�,r„� Against
se
Ron
Mr.President (Dillon) Approved:
Attest:
City Clerk Mayor
1M 6-56 oleo 8 4441
44a44.. e4 eir("11241
•
Original to City Clerk •
. r • ORDINANCE 179636
v COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO.
(c g3
pledged for the prompt and faithful payment of both principal
and interest of said bonds, and the proceeds of said bonds are
hereby appropriated and shall be used solely for the purpose
described in Section 1 hereof.
Section 3. The Council shall negotiate and sell said bonds
from time to time in such amounts as it may see fit, upon such
notice and in such manner as is prescribed by law, at not less
than par and accrued interest, to the highest responsible bidder
or bidders, and the proceeds thereof, including any premiums
thereon, shall be credited to and placed in a fund which is
known as the Capitol Approach Improvement Fund, for the purpose
described in Section 1 hereof.
Section 4. The proper city officers are hereby authorized,
ordered and required to set aside annually from the revenues of
the City of Saint Paul a sufficient amount to pay the interest
on said bonds and the principal of any such bonds maturing in
such year, and are hereby directed to make a talc levy to provide
for the payment thereof in accordance with Chapter 315, Session
Laws of Minnesota for 1945 as amended by Chapter 752 Session Laws
of Minnesota for 1955 . This provision is in addition to the pledge
of the full faith and credit of the City of Saint Paul for the
payment of said bonds, and not in lieu thereof.
Section 5. None of the bonds herein authorized shall be
issued when the total net indebtedness of said City of Saint
Paul exceeds ten per cent (10%) of the full and true valuation,
as finally equalized, of all taxable property in said City,
computed in accordance with the terms of Minnesota Statutes 1953,
Chapter 475, as amended.
Section 6. This ordinance is hereby declared to be an
emergency ordinance rendered necessary for the preservation of
the public peace, health and safety.
Section 7. This ordinance shall take effect and be in
force from and after its passage, approval and publication.
OCT 3 1956
Yeas Councilmen Nays Passed by the Council
DeCourcy
,‘
z, Hnd
Mollaarzitelli in Favor
Mortinson
P∎ tro„ii Against
Rosen
Mr.President (Dillon) 0
• Approved: a
Atte" A
Qom.
City Clerk Mayor
1,. . ,6, 00008 .
PUBLISHED/0—L..S7o
Duplicate to Printer -
ORDINANCE 7636
COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO.
An ordinance authorizing and providing for the issuance
and sale of the bonds of the City of Saint Paul,
Minnesota, in an amount not to exceed the sum of
Five Hundred Thousand Dollars ($500,000.00) par value
for the purpose of paying the share of the City of
Saint Paul relative to the completion of the State
Capitol Approach, the buildings and the grounds thereto
as provided under the terms of Chapter 315, Session
Laws of Minnesota for 1945, as amended by Chapter 752,
Session Laws of Minnesota for 1955. This is an
emergency ordinance rendered necessary for the
preservation of the public peace, health and safety.
WHEREAS, under Chapter 315, Session Laws of Minnesota
for 1945, as amended by Chapter 752, Session Laws of Minnesota
for 1955, the City of Saint Paul was authorized by the State
Legislature to bond to the extent of Five Hundred Thousand
Dollars 4500,000 .00) for the purpose of the completion of
the Veteran's Service Building and the grounds thereto around
the Minnesota State Capitol, commonly termed the "Capitol
Approach Area," and .
WHEREAS, it is necessary that the City of Saint Paul
obtain funds for the purpose of defraying its portion of the
expenses of said "Capitol Approach Area"; therefore
THE CITY COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN:
Section 1. That the City of Saint Paul issue and sell the
negotiable bonds of said City in an amount not to exceed the
sum of Five Hundred Thousand Dollars ($500,000.00) par value,
for the purpose of paying the share of the City of Saint Paul
of the said "Capitol Approach Area" as provided under the
terms of Chapter 315, Session Laws of Minnesota for 1945 , as
amended by Chapter ?52, Session Laws of Minnesota for 1955.
Section 2. Said bonds shall be in the form of serial bonds,
a portion of which shall be payable each year after issue; the
first installment of which shall become due and payable in not
less than three (3) years and the last installment of which
shall become due and payable in not more than thirty (30) years
from the date of their issue. Said bonds shall bear interest
at a rate not to exceed six per cent (6P, payable semi-annually,
and the Council shall fix the denomination of said bonds, the
form, the date and dates of maturity thereof. Both principal
and interest shall be payable at the office of the Commissioner
of Finance in the City of Saint Paul, or at the ]Fiscal Agency of
the City of Saint Paul, in the City of New York, State of New
York. The coupons attached to said bonds may be authenticated.:'
F .by the engraved signatures of the Mayor and Comptroller. The
faith and credit of the City of Saint Paul are hereby irrevocably
Yeas Councilmen Nays Passed by the Council
DeCourcy
Holland
Marzitelli In Favor
Mortinson
Petersen__ Against
Rosen
Mr.President (Dillon)
Approved:
Attest:
City Clerk Mayor
IM 6-56 egeRp 8
Duplicate to Printer
ORDINANCE 17636
COUNCIL FILE NO.
PRESENTED BY ORDINANCE NO. /0 .2_,)
pledged for the prompt and faithful payment of both principal
and interest of said bonds, and the proceeds of said bonds are
hereby appropriated and shall be used solely for the purpose
described in Section 1 hereof.
Section 3. The Council shall negotiate and sell said bonds
from time to time in such amounts as it may see fit, upon such
notice and in such manner as is prescribed by law, at not less
than par and accrued interest, to the highest responsible bidder
or bidders, and the proceeds thereof, including any premiums
thereon, shall be credited to and placed in a fund which is
known as the Capitol Approach Improvement Fund, for the purpose
described in Section 1 hereof.
Section 4. The proper city officers are hereby authorized,
ordered and required to set aside annually from the revenues of
the City of Saint Paul a sufficient amount to pay the interest
on said bonds and the principal of any such bonds maturing in
such year, and are hereby directed to make a tax levy to provide
for the payment thereof in accordance with Chapter 315, Session
Laws of Minnesota for 1945 as amended by'Chapter 752 Session Laws
of Minnesota for 1955. This provision is in addition to the pledge
of the full faith and credit of the City of Saint Paul tor the
payment of said bonds, and not in lieu thereof.
Section 5. None of the bonds herein authorized 'shall .be
issued when the total net indebtedness of said City of Saint
Paul exceeds ten per cent (10%) of the full and true valuation,
as finally equalized, of all taxable property in said City,
computed in accordance with the terms of Minnesota Statutes 1953,
Chapter 4750 as amended
Section 6. This ordinance is hereby declared to be an
emergency ordinance rendered necessary for the preservation of
the public peace, health and safety.
Section 7. This ordinance shall take effect and be in
force from and after its passage, approval and publication.
Oa31956
Yeas Councilmen Nays Passed by the Co ncil
DeCourcy
Holland
Marzitelli In Favor
Mortinsan
—Pete'AUii Against
Rosen ?j
Mr.President (Dillon) I td`
Approved:
Attest:
City Clerk Mayor
1M 646 4E0,8
il 1st 1 2n ,
Laid over to
ko
3rd and app. ' �� Adopt
Yeas Nays Yeas Nays
DeCourcy DeCo cy
Holland %ti
--MereirSlllr"' ortinson
Peterson n
R �-= osen b )
Mr. President Dillon Mr. President Dillon
s
I.7 p636