02-162_, �1 �'��i
Presented By
Referred To
Committee: Date
z An ardinance amending a 1997 ordinance relating to bonds of the Port Authority of the City of Saint
a Paul to which are pledged the full faith, credit and resources of the City of Saint Paul, relating to the
a Williams Hill Tax Increment Financing District and Hazardous Substance Subdistrict therein.
6 WHEREAS, on January 2, 1997, approved by the Mayor on January 10, 1997, the City Council
� of the City of Saint Paul, Minnesota (the "City"), adopted an ordinance with the following tifle (the
s "Ordinance"):
9 "An ordinance repealing C.F. No. 96-1341 and substihxting in lieu thereof this
i o ordinance granting authority to the Port Authority of the City of Saint Paul to issue and
li
12
13
14
is
16
l�
is
19
sell the bonds in the aggregate principal amount not to exceed $6,150,000, and any bonds
to refund such bonds, to secure such bonds with a pledge of the full faith, credit and
resources of the City of Saint Paul, and to use the proceeds derived from the sale of such
bonds to pay the cost and expense necessarily to be incurred by said Port Authority for
acquisition of lands, environmental remediation, conshuction of infrastructure
unprovements and the relocation of owners, occupants and tenants, pursuant to the
provisions and by authority of Minnesota Statutes, Chapter 469, as amended, and
prescribing the amount and form of such bonds and the manner for establishing the rate of
PUFii=S�;�
interest thereon.' ; and
,t� I..
z o WHEREAS, in the issuance of the bonds contemplated by the Ordinance (the "Bonds") it has
21 been determined by staff of the City and staff of the Port Authority of the City of Saint Paul, Minnesota
22 (the "Port Authority"), that the tas levy for the bonds authorized and required by Section 4 of the
Council File # �a��(��.�
Green Sheet # r�35 ��
ORDINANCE
CITY OF SAINT PAUL, MINNESOTA
a3
z s Ordinance may in certain circuxnstances lead to the collection of general ad valorem taac levies that will
i not be needed for debt service if tas increments are received in the amounts and at the times currently
b a--
2 estimated; and
s WHEREAS, such possibility can be avoided ifthe City and Port Authority extend their exercise
4 of j oint powers already authorized by the Ordinance in connection with the Bonds to include the City's
s power to levy for general obligation tas increment bonds only the net amount that, together with the
6 estunated receipt of pledged revenues, equals 105% of debt service:
� NOW, THEREFORE, THE COUNCIL OF THE CTI'Y OF SAINT PAUL DOES ORDAIN:
a Secfion 1. That the Ordinance shall be amended by adding at the end thereof a new section
9 which is numbered as follows and reads as follows:
io
Section 9
ii Alternate Tas Lew. Notwithstanding the provisions of Section 4, ta�ces may be
1z levied and cancelled or omitted by the Port Authority in the manner provided by
i3 Minnesota Statutes, Section 475.61, to the extent legally permissible. Section 3.4 of the
i4 Loan Agreement dated as of November 21, 1996, between the City and Port Authority
is shall be amended to provide that such power is one of the joint powers exercised in the
i5 issuance ofthe Bonds.
l�
ia
19
20
21
22
23
24
25
1 Section 2. Effective Date. That this ordinance shall take effect and be in force 30 days after its D ��v�
r
z passage, approval and publication. This ordinance, like the Ordinance it amends, is subject to the City's
s home rule charter pertaining to the procedure for referendum on ordinances enacted by the governing
4 body.
s
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Adopted by Council:
Requested by Department of: .
��JNLv v��r'F�.
By: "V'�
Form Approved by City Attorney
� j, ��� �\ �
Date t"\d_� a.�Y�Q a B� � `." —�-
�— is - °o�
Adoption Certified by Council Secretary
By:
Appr
By:
< ��
�
,P �
�
*^proved by Mayor for Submission to
uncil
7
O'3._l�-Y
of Financial Services
0�7�02
DATEINfMTED
ov�sroz I GREEN SH
DEPARTMENTOIRECfOR
No 113510
Ini4a11Date
CT'COIINdL
ASSIGN
NUMBFRWR � CRYATTORNEY ] CrtVGtERK
ROUTING I
❑ FlNRNLW.SERVILESDIR _❑ FlNANCWLSERV/ACCTG
ORDER I
� MAYOR ❑
TOTAL # OF SIGNATURE PAGES 1_ (CLIP ALL LOCATIONS FOR SIGNATURE) I
iis ordinance amends ordinance C.F. 96-1504 by adding at the end thereof a new sec6on called Attemate Tax Levy.
ie altemate fax levy provision allows the Port Authority to rancel a fax levy for the Williams HiII Tax Increment bonds in
manner provided by Minnesota Shatutues, Section 475.6'I.
PLANNING COMMISSION
CIB COMMITTEE
CNIL SERVICE COMMISSION
ISSUE,OPPORTUNITY(Who, What, When, Where, Why)
RSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING QUESfIONS:
Has this persoNfirtn ever worked untler a coMract for this departmeM?
YES NO
Has this persoNfirm ever been a city employee?
VES NO
Does this perw�rm posseu a skdl not nortnalty possessed by any curreM c'rty employee�
VES NO
Is this persoNfirm a fargeted ventloY+
VES NO
ordinance tlid not allow the Port Authoriry to cancel its property ta�c lery unless cash was on hantl as of September 15 of each given year.
inance allows ihe Part Autiwrily to cancel Rs levy for the Willum's Hill Tau Iricremer�t bonds based on a net tax lery providetl fw in Minnesota Statutes, Section 475 61
APPROVED b.
cancel its fax levy for ihe William's HJI Tan Inaement bontls wdhout having cash on hand on Septembef �5 of eac ac ���! d
. f �' . � � �,�...
i
JTAGES IF APPROVE�
1TAGES IF NOTAPPROVED
xes may be levietl that 2re nOt needed.
70UNTOFTRANSACTIONS _
SOURCE
INFORMATION (EXPWN)
i . . -
COST/REVENUE BUDGETED (CIRCLE ON�
ACTMTYNUMBER
YES NO
_, �1 �'��i
Presented By
Referred To
Committee: Date
z An ardinance amending a 1997 ordinance relating to bonds of the Port Authority of the City of Saint
a Paul to which are pledged the full faith, credit and resources of the City of Saint Paul, relating to the
a Williams Hill Tax Increment Financing District and Hazardous Substance Subdistrict therein.
6 WHEREAS, on January 2, 1997, approved by the Mayor on January 10, 1997, the City Council
� of the City of Saint Paul, Minnesota (the "City"), adopted an ordinance with the following tifle (the
s "Ordinance"):
9 "An ordinance repealing C.F. No. 96-1341 and substihxting in lieu thereof this
i o ordinance granting authority to the Port Authority of the City of Saint Paul to issue and
li
12
13
14
is
16
l�
is
19
sell the bonds in the aggregate principal amount not to exceed $6,150,000, and any bonds
to refund such bonds, to secure such bonds with a pledge of the full faith, credit and
resources of the City of Saint Paul, and to use the proceeds derived from the sale of such
bonds to pay the cost and expense necessarily to be incurred by said Port Authority for
acquisition of lands, environmental remediation, conshuction of infrastructure
unprovements and the relocation of owners, occupants and tenants, pursuant to the
provisions and by authority of Minnesota Statutes, Chapter 469, as amended, and
prescribing the amount and form of such bonds and the manner for establishing the rate of
PUFii=S�;�
interest thereon.' ; and
,t� I..
z o WHEREAS, in the issuance of the bonds contemplated by the Ordinance (the "Bonds") it has
21 been determined by staff of the City and staff of the Port Authority of the City of Saint Paul, Minnesota
22 (the "Port Authority"), that the tas levy for the bonds authorized and required by Section 4 of the
Council File # �a��(��.�
Green Sheet # r�35 ��
ORDINANCE
CITY OF SAINT PAUL, MINNESOTA
a3
z s Ordinance may in certain circuxnstances lead to the collection of general ad valorem taac levies that will
i not be needed for debt service if tas increments are received in the amounts and at the times currently
b a--
2 estimated; and
s WHEREAS, such possibility can be avoided ifthe City and Port Authority extend their exercise
4 of j oint powers already authorized by the Ordinance in connection with the Bonds to include the City's
s power to levy for general obligation tas increment bonds only the net amount that, together with the
6 estunated receipt of pledged revenues, equals 105% of debt service:
� NOW, THEREFORE, THE COUNCIL OF THE CTI'Y OF SAINT PAUL DOES ORDAIN:
a Secfion 1. That the Ordinance shall be amended by adding at the end thereof a new section
9 which is numbered as follows and reads as follows:
io
Section 9
ii Alternate Tas Lew. Notwithstanding the provisions of Section 4, ta�ces may be
1z levied and cancelled or omitted by the Port Authority in the manner provided by
i3 Minnesota Statutes, Section 475.61, to the extent legally permissible. Section 3.4 of the
i4 Loan Agreement dated as of November 21, 1996, between the City and Port Authority
is shall be amended to provide that such power is one of the joint powers exercised in the
i5 issuance ofthe Bonds.
l�
ia
19
20
21
22
23
24
25
1 Section 2. Effective Date. That this ordinance shall take effect and be in force 30 days after its D ��v�
r
z passage, approval and publication. This ordinance, like the Ordinance it amends, is subject to the City's
s home rule charter pertaining to the procedure for referendum on ordinances enacted by the governing
4 body.
s
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Adopted by Council:
Requested by Department of: .
��JNLv v��r'F�.
By: "V'�
Form Approved by City Attorney
� j, ��� �\ �
Date t"\d_� a.�Y�Q a B� � `." —�-
�— is - °o�
Adoption Certified by Council Secretary
By:
Appr
By:
< ��
�
,P �
�
*^proved by Mayor for Submission to
uncil
7
O'3._l�-Y
of Financial Services
0�7�02
DATEINfMTED
ov�sroz I GREEN SH
DEPARTMENTOIRECfOR
No 113510
Ini4a11Date
CT'COIINdL
ASSIGN
NUMBFRWR � CRYATTORNEY ] CrtVGtERK
ROUTING I
❑ FlNRNLW.SERVILESDIR _❑ FlNANCWLSERV/ACCTG
ORDER I
� MAYOR ❑
TOTAL # OF SIGNATURE PAGES 1_ (CLIP ALL LOCATIONS FOR SIGNATURE) I
iis ordinance amends ordinance C.F. 96-1504 by adding at the end thereof a new sec6on called Attemate Tax Levy.
ie altemate fax levy provision allows the Port Authority to rancel a fax levy for the Williams HiII Tax Increment bonds in
manner provided by Minnesota Shatutues, Section 475.6'I.
PLANNING COMMISSION
CIB COMMITTEE
CNIL SERVICE COMMISSION
ISSUE,OPPORTUNITY(Who, What, When, Where, Why)
RSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING QUESfIONS:
Has this persoNfirtn ever worked untler a coMract for this departmeM?
YES NO
Has this persoNfirm ever been a city employee?
VES NO
Does this perw�rm posseu a skdl not nortnalty possessed by any curreM c'rty employee�
VES NO
Is this persoNfirm a fargeted ventloY+
VES NO
ordinance tlid not allow the Port Authoriry to cancel its property ta�c lery unless cash was on hantl as of September 15 of each given year.
inance allows ihe Part Autiwrily to cancel Rs levy for the Willum's Hill Tau Iricremer�t bonds based on a net tax lery providetl fw in Minnesota Statutes, Section 475 61
APPROVED b.
cancel its fax levy for ihe William's HJI Tan Inaement bontls wdhout having cash on hand on Septembef �5 of eac ac ���! d
. f �' . � � �,�...
i
JTAGES IF APPROVE�
1TAGES IF NOTAPPROVED
xes may be levietl that 2re nOt needed.
70UNTOFTRANSACTIONS _
SOURCE
INFORMATION (EXPWN)
i . . -
COST/REVENUE BUDGETED (CIRCLE ON�
ACTMTYNUMBER
YES NO