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AbseM
Change
�11 11�
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8,800,000
8 800 000
Requested by Department of:
Amended
Budget
18,650,D00
18,650,000
18,650,000
18,650 000
Mayor / Bud et
By: Tom Cran
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Adopted by Councit: Date �i„_ _�c ��S
� �.x�o_
Adoption Certified by Councif Secretary:
By:
Approval Recommended by Sudget Director:
By: �fl? t�'r� f�1�. R i�.�
Form Apprc�ved by City Attorney:
�
Approved �yt'Mayor
Apprc
By:
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RESOLUTION
5AINT PAUL, MINNESOTA
Council File #
Green Sheet #
9s�ys
24154
a3
Committee: Date
WHEREAS, the sales tax proceeds coliected by the State ofi Minnesota, Department of Revenue, on behalf of
the City of Saint Paul, are periodically transmitted to the city; and
WHEREAS, the city is obiiged to transmit the sales tax proceeds to Norwest Bank, as trustee to be
administered by the trustee in accordance with the terms and condfions of the underlying frust agreement
between the HRA of the City of Saint Paul dated Novem6er 1, 1993 ; and
WHEREAS, the Mayor has determined that the amount of sales tax proceeds anticipated to be received by the
city and required to be fowarded to the trustee wifl be in excess ot the amounts included in the current adopted
budgets and has recommended that the budget be amended so as to allocate the corrected amount of
anticipated sales proceeds; and
WHEREAS, the capital projects fund is open-ended and does not close either the financing or appropriations
at the end of a fiscal year, and will require a budget that reflects inception through December 1995 transactions,
now therefore be it
RESOLVED, the Mayor recommends and the Council approves the following changes to the 6udget of Fund
930 Sales tax
Current
Budget
FINANCING PLAN:
P7 - 930 - 90301 - 1404 - 00000 City sales tax proceeds
inception thru December 1995 9,850,000
total 9,850,000
SPENDING PLAN:
P7 - 930 - 90301 - 0560 - 00000 Transfer to debt service
inceptlon thru Decembes 1995 9,850,�40
total 9,850,000
By:
Pad6aE9� � e lF:1ltlY9AeioWtio�rslSTXBfi86.WK! 1 OI2985
Mayod Budge[
fom Cran 266-8547
� MLST BE ON COUNCR pL'pJpABY
OFSIGNATUREPAGES
9s-&ys✓
SHEET NO. 24754
DFPMIMENi DQtECIOR
CITYATI'ORHEY O CIlYCIFRK
OUDC£PDrttEClOR � flN.&MCl.3RVIC£SDIIt
MAYOR(ORASSISlANT) � CkID�FAC(,UUNI'ANf
(CLIP ALL LOCATIONS FOR
Approve Council Resolution increasing the Capital Projects futtd 930 to reflect [he Sales tax proceeds received by the City and hanferred to the
rustee as per bond requirements.
PERSOt�iA7.SERVICE
VLN.'MNGCOM1pll5510N _CIVp,3�RVICECOFIMI5510N
c�sme.a�nr� ,
A STAFF
DISTRIC(COURT —
; swroars wncx crounca oehrrrve+
1. Has tttis persodfvm ever wmiced �mder a contract For ihis deparhncnl?
YES NO
2 Hu this persodFirtn ever been a ciTy employee?
YES NO
3. Dces this pe�sodfum posses+a skill not nortnally possessed by any curtent city employee?
YES NO
and
i 1N1TiAi1NGPROBLFM.ISSUEOPWR'iVMTY(WAO, WLa, When, Wt�ae, Why)
I 1'he sales tax proceeds are received from the State of Minnesota department of Revenue and deposited into capital projects fund 930, where they
jmust have an appropriahon to transfer those proceeds to NW trust. Because the capital projects funds aze NOT an annual appropriation, but
j temam as an appropnation until closed out, [he budgets do not reflect the normal behavior when amrndments are prepazed. This budget
I 'amendment will reflect appropriation authonty for sales tax collected mception through December 1995.
, '�������'
� -- - - - --- - - --------�------- —
; MV qN?AGES IF MPROVm
�,The appropnation will allow the ciTy to be in confoimance with bond requirements.
�
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`plSnDVqNTqUES IF APPftOVED
None
��c�
�`Yi.";�� ��Q�.,��r_
... . . .. •. �, .
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,�
JUL 2g 1995
�� - ---�°-�--�______ _ --�� � �� A�1
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IDISnDVqNTqGESOFNOTAPPRUVED � �� �
�"fhe City will not have the appropriatron authonTy to move sales taY proceeds from the City to the trustee as required by bond documents.
�"' �
I iOTqLAMOONTOFiRpry5pCT10N _, J H HOO OOO C08�f/REVBn'U6BUDCEi6D(CIRCLHONB)
YES NO
I F��o���so�a�8______. _____ Sales tax �roceeds A�CIVITYNUMB6R P7 - 930 - 90301 - 0560 - 00000
i FINANCIhi. MFORMATION (E\PLMJ)
�
Saint Paul BuCget OIFlCe (F:IUSERS�t1Y3Nomn1 sta930_85 .WKd)