10-45��
Council File # 10-45
Green Sheet # GS3093577
RESOLUTION
CITY OF SAINT PAUL, MINNESQTA (Substitute 1/20/2010)
Presented by
GIVING PRELIMINARY APPROVAL TO TAE
ISSUANCE OF BONDS (the "City of Saint Pau12010 Winter Bond Sale")
10
11
12
13
BE IT RESOLVED by the Council of tbe City of Saint Paul, Minnesota, that the
Director, Office of Financial Services, City Treasurer, City Debt Manager and other appropriate
City officials and staff are hereby authorized and directed to proceed with preliminary actions for
the issuance of the bonds identified on the attached "City of Saint Pau12010 Winter Bonds Sale"
sheet (see Bxhibit A), and such other current °�a °�a-aa�an� refundings as produce savings
sufficient to justify their issuance, in the approximate amounts set forth therein, in conjunction
with Springsted Incorporated as financial consultant and D-:��-° °�a "��-��r , a firm from Yhe
City Bond Counsel panel ,as Bond Counsel, to prepare Official Statements and such other
documents as may be necessary for further approval of this City Council.
Yeas Nays Absent
BOSffOItl �
Carter �
Harris �
Helgen
Lantry �
Requested by Depariment of.
�J�S
By: 1
Approved b the Office ofFina ci �d Ser �ces Q/
By: Vj�
2121771dL
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DeparimentlOffice/Council: Date initiated:
FS —FinancialServices Zo�,�.,2o,o Green Sheet NO: 095977
Co�ad Pesson 8� Phwie: Deuartmerrt erson VDate
Bob GeUrs 0 �nandal Services
266-8837 1 mancialServices e eatDireetor
Assign 2 Attom Auorne y� .���o
Must Be on Council Agenda by (Date): Number
27-JAN-70 For 3 or'sO�ce . Ma or/Assislaut
Roufing 4 oanal ' Coonpl
Doa � Order 5 ' Caerk - Ciuk
E-Doeument Required: Y
Doeument ContaM: �b Geurs
Contact Phone: 266-8837
Total # of Signature Pages ^ (Clip Ali Lowtions for Signature)
Action Requested:
Sign attached subsritute resolution for Resolution #10-45 (Green sheet #309357 �.
RecommendaGqns: Appmve (A) or Reject (R): Personal Service Contracts Must Answerthe Foilowing Quesdons:
Planning Commission 1. Has this person/firm ever worked under a conffact for this department?
CIB Committee Yes No
Civi! Serrice Commission 2. Has this person/firtn ever been a city employee?
Yes No
3. Does this pereoNfirtn possess a skili not nortnally possessed by any
current city employee?
Yes No
Explain all yes answers on separate sheet and attach !o green sheet.
Initiating Problem, Issues, Opportunity (Who, Whak �gn, Where, Why):
Council resolution #10-45 giving preliminary approval to the issuance of bonds in 2010 requires tecbnical changes.
Advantages {f Approved: �� '�-
Updated resolurion will be executed �� '' �"�
��� � � ZU�4U
DisadvantageslfApproved: ��� /p e°'�¢"f��
None lmown �; �°e 8 � �r
Disadvantages If Nut Approved:
Infoxma6on in prelimivary bond sale tesolurions will not be updated.
Total Amount of CostlRevenue Bud eted:
Trensadtion: 9
Funding Source; Activity Number:
Finanuai Infom�ation:
(Facpiain)
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Januarv 20. 2010 8:40 AM Pa�A 1
10-45
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10-45
Exhibit A (Continued)
2010 City Bond Schedule (Preliminary)
January 19, 2009
Dec 30 Preliminary Resolution to City Council
Jan 19, 20 First Draft of GO and Sewer OS's
Jan 20 Substitute Preliminary Resolution for Winter Bond Sale considered
CIB $ 3.0 M
Refund CIB 2002 A $ 4.475 M
Street and Assessment Bonds (BAB's) $12.5 M
Refunding TIGO (KochlMobil) up to $ 4A M
Sewer (Revenue) $ 9.0 M
Jan 22 End of day, Rating material (except OS's)
Jan 25 Draft OS's to Rating Agencies
Jan 26 Rating Prep with Mayor, Council President Kathy Lantry
Jan 27 Ratings Calls with Moodys (10:30AM) and 5&P (1:OOPM)
7an 2'J HRA approval of Pledge ageement to City and HRA Budget amendment
Feb 3 CC Resolurion and Completion form to City Council
Feb 4-5 Ratings Released
Feb 10 Competitive Sale at Springsted
10:00 AM G.O.'s Bonds
11:OOAM Sewer Bonds
City Council award
Feb 25 Close TIGO Refunding (KochJMobil}
Mazch 1 Pay-off outstanding TIGO bonds (KocY�/Mobil)
March 9,10 Pre-Close and Close the rest of the Winter sales issues
April 15 Refund 2002 A CIB Bonds
Other Pending Sales for 2Q1�
Payne/Maryland RZED Bonds $14M Spring Kennedy & Graven
Underwriter: Piper
Capital Lease #_ (SunTrust) $22M Spring Kennedy & Graven
Water Bonds (MPFA or City Reds) $20M Spring at earliest To Be Determined
HRA Parking Refunding Bonds $40M Fall To Be Determined
Como Bonds (BAB's) $4.5 M Fall Kennedy & Graven
Through out the year, Bond sales and Council or HRA actions will be arranged to
minimize cost of issnance, duplicative work and number of ratings calls.
Council �le # �� �
GreenSheet# 3093577
RESOLUTION
CITY OF SAIN� PAUL, MINNESOTA
1
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3
4
6
9
10
11
12
13
GIVING PRELINIINARY APPROVAL TO TFIE
OF BONDS (the "City of Saint Pau12010 Winter Bond Sale")
BE 1�RESOLVED by the Council af the City of Saint Paul, Minnesota, that the
Director, Offic�of Financial Services, City Treasurer, City Debt Manager and other appropriate
City officials an�taff are hereby authorized and directed to proceed with preliminary actions for
the issuance of the bca�tds identi6ed on the attached "City of Saint Pau12010 Winter Bonds Sale"
sheet (see ExYubit A), a�d such other cunent and advance refundings as produce savings
sufficient to justify their issuance, in the approximate amounts set forth therein, in conjunction
with Springsted Incorporatecl�as financial consultant and Briggs and Morgan, as Bond Counsel,
to prepare Official Statements u�d such other documents as may be necessary for further
approval of this City Council. `�,
.
Yeas Nays Absent
Bostrom
Carter
Harris
Helgen
Lantry
Stazk
Thune
Adopted by Council: Date
Adoption Certified by Council Secretary
By:
Approved by Mayor: Date
Sy:
Requested by Department of: �
—� — C'�� — F�C.'d oC= �'r�wo.���v�l. �E�V�C�
By � ,�-��
by the Office of Figancial Services
Bp _ , � �'
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Approved b}�.City t ` y
By:
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Approv by oi for Subi ' sion to uncil
By:
2121771v2
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/D���
Exhibit A (Continued)
2010 City Bond Schedule (Preliminary)
January 6, 2009
Dec 30 Preliminary Resolution to City Council
7an 13 Preliminary Resolution for Winter Bond Sale considered
CIB $ 3.0 M
Refund CIB 2002 A $ 4.575 M
Street and Assessment Bonds (BAB's) $12S M
Refunding TIGO (Koch/Mobil) up to $ A.0 M
Sewer (Revenue) $ 9.0 M
Jan 22
Jan 27
Rating Prep with Mayor, Council President Kathy Lantry
Ratings Calls with S&P and Moodys
Jan 27 HRA approval of Pledge agreement to City and HRA Budget amendment
Feb 3 CC Resolution and Completion fomi to City Council
Feb 4-5 Ratings Released
Feb 10 Competitive Sale at Springsted
10:00 AM G.O.'s
11:OOAM Revenues'.
City Council award
Feb 25 Close TIGO Refunding (Koch/Mobil)
March 1 Pay-off outstanding TIGO bonds (Koch/NlobiiJ
March 9,10 Pre-Close and Close the rest of the Winter sales'�issues
Other Pending Sales for 2010
Payne/Maryland RZED Bonds
Capital Lease #3 (SunTrust)
Water Bonds (MPFA or City Rev's)
HRA Parking Refunding Bonds
Como Bonds (BAB's)
$14M
$2.2M
Spring Kennedy & Graven
Und�rwriter: Piper
Spring Kennedy & Graven
$20M Spring at earliest Briggs ',
$40M Fall To Be Deternii�ed
�
$4.5 M Fall Kennedy & Graven
Through out the year, Bond sales and Council or HRA actions will be arranged to
minimize cost of issuance, duplicative work and number of ratings calls. '
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
�n.-il� r
Department/O�ce/Council: Date Initiated:
r - -� _.i ...
FS -FinancialServices 30DEC2009 Green Sheet NO: 3093577
Deoartment Sent o Pe on InitiaUDate
Contact Person & Phone: ., /� d
BobGeurs � 0 �5nancialServices � �,��� I
6-8837 1 ,Ctitv pttornev
Assign 2 a or's Of6ce iYfa odAssistant
I Must Be on Cauncil Agenda by (Date): Numher 3 �Council (S Cooncil
13-JAN-09 For
Routing 4 itv Clerk Citv Clerk
Doc. Type: RESOLUTION WI$ Order
TR4NSACTION
E-DocumentRequired: Y���
DocumeMCoMaM: ���
ConWctPhone: �
Total # of Signature Pages _(Clip �A'N�LOwtions for Signature)
Action Requested: �
Preliminary resolution for City Winter Bond Sale: naming issues CIB Sonds ($3M), Street Improvement Bonds ($12.SM), City
TIGO Refunding Bonds (Koch/Mobile) ($4M), Sawer Bonds ($91�.
`�.
,,..,
Recommendations: Approve (A) or Reject (R); Peisonal Service Contracts Must Answer the Following Questions:
Planning Commission 1. Has this person/firm ever worked under a contract for this departme�t?
CIB Committee Yes �No
Civil Service Commission 2. Has this person/firm ever been a ciry employee?
Yes No \�
, 3. Does this personlfi[m possess a skill not normally possessed by any
current city employe�,?
Yes No �`
�\
Explain all yes answers on's�eparate sheet and attach to green sheet.
O
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why): `�,,
The City annually sells debt in the winter, and this year will be able to take advantage of hi`stp�ncally low interest rates. Competitive
sale is planned for February l Oth, 2009. Closing is planned to be around Mazch 1 st, 2009. ^.�
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AdvanWges If Approved: ,
Wi11 be able to move forwaxd in completing several bond sales anricipated in the 2010 adopted budget. 4 '^,
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DisadvanWges If Approved:
None known.
Disadvsntages If Not Approved: �
May face higher interest costs if bond sale is delayed.
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Total Amount of
Trensaction: CosURevenue Budgeted: Y
FundingSource: va�ioUS ActivityNumber:
Financial Information:
(Explain)
December30. 2009 10:04 AM p �