96-1011�� �^. � � t � E ! i
...� s'`� . is t i°: : i%m
RESOLUTION
CITY OF SAINT P�UL, M
Presented By
Referred to
WHEREAS, the City intends to develop and erect a Sports Dome Facility at it s Rice and
Ariington Athletic Comple� and
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WHEREAS, the City will be issuing tax exempt revenue bonds to pay for the development and
construction of the Sports Dome Facility, and
WHEREAS, the City needs to be able to account for the proceeds of the tax exempt revenue
bond issue, and
WHEREAS, a new Special Fund needs to be established to account for the receipt and spending
of these bond proceeds, and
WFIEREAS, The Mayor, pursuant to Section 10.07A 1 of the City Charter, does certify that there
are available for appropriation, revenue in excess of those estimated in the 1996 budget, and
WHEREAS, Council File 277520, adopted October 1, 1981 did establish certain Special Fund
policies, and
WHEREAS, The Mayor recommends the following changes to the 1996 budget:
Division of Parks and Recreation
Fund 326 Rice and Arlington Sports Dome
Cunent
Financing Plan Budeet
23130 Sports Dome Construction
23130-6201 Bond Proceeds 0
23131 Sports Dome Bond Debt Service
23131-6204 Bond Proceeds Cap Interest 0
23131-9926 Contribution to Retained Earnings 0
23132 Sports Dome Debt Service Reserve
23132-6201 Bond Proceeds 0
23132-9926 Contribution to Retained Earnings 0
Council File # �— C7 �
Green S�ieet # ���
�,•Sr_�
Chanees
3,680,000
70,000
(70,000)
350,000
350 000
�7
. Date
Amended
Budaet
3,680,000
70,000
(70,000)
350,000
350 000
Total Financing Plan 0 3.680.000 3.680.000
27 page 1 of2
L ` �". ' �` , `� `�
� , �
2 8 �endin Plan
2 9 23130 Sports Dome Construction
30 23130-0601 Cost ofBond Issuance 0
31 23130-0735 Traffic Signals 0
32 23130-0894 Construction - General 0
33 Total Spending Plan 0
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80,000
51,500
3_548.500
3_680.000
��-la�l
80,000
51,500
3.548.500
3.680.000
THEREFORE, BE IT RESOLVED, that Special Fund 326 - Rice and Arlington Sports Dome is
set up to account for the receipt and spending of the taac exempt revenue bond issue and,
BE IT FLTRTF�R RESOLVED, that the City Council approves these changes to the 1996
budget.
Phe $t, pettl Long • Range Capitallmprovemen�
Badget Committee:eceived this request on
3date) ._.r.���.�_ and recommends
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page 2 of 2
Adopted by Council: Date Q�,... _�.Q-, }qq�
_.__,_�_.��_.�
Adoption Certified by Council Secretary
BY ,``_ _� - `
Approved by May\ D ��/ T
Bp: d��C
Reques
Div'sion Parls reation
��� By: -�'�----
Approval Recommended by Budget
Director: /'�
g�, � �^ lC..�
Form Ap ved by City Attorney
$ �� � GT ��>
- d1 �
Approved by Mayor for Submission to
Council
BY= i""� T�- .d��"`r�'� -
�l (� - t� �\
��l.�i�1
DEPARiMEN7ADFflCE/COUNCIL DATE INITIATED
Parks and Recreation 8/16/96 GREEN SHE.E
CONTACT PERSON & PHONE INITIAL/DATE INITIALIDATE
�DEPARTMENTDIRECTOR �CRYCAUNdL
Vic Witt enstein 266-6409 A �� r ' N �CRYATTORNEV '� J. �• �� 4Jb�CRYCLERK
MUST BE ON COUNCIL AGENDA BY (DATE) p��N� � BU�GEf DIflECTOR � FIN. & MGT. SERVICES DIF.
OFDEF MAYOR (OR ASSISTAPfi) nt,: „F A
�9n';� st. 28 �` 1996 �; 4�-1 � —�-�. cc
TO7AL # OF SIGNATURE PAGES 1 (CLIP ALL LOCATIONS FOR SIGNATURE) 7 Parks
ACTION flEQUE5TED:
Approval of council resolution establishing a new fund for the Rice and Arlington Sports
Dome Facility.
RECAMneENDA7loNS: Approve (A) or Feject (ft) pERSONAL SERVICE CONTFiACTS MUST ANSWER TXE POLLOWING QUESTIONS: -
_ PL4NNING COMMISSION _ CIVIL SEFVICE COMMISSION �- Has this personflirm ever worked under a contract for this department?
_ CIB COMMITTEE _ YES NO
A S7AFF 2. HaS this perSOnRirm ever 6een a clty employee?
— — YES NO
_ DlSraiCT CoUar _ 3. Does ihis personttirm possess a skill not normally possessed by any current ciry employee?
SUPPOFiTS WHICH COUNCIL OBJECTIVE7 YES NO
Explain all yes answers on separate sheet and attach to green ahcet
INITIATING PROBLEM, ISSUE, OPPORTUNITV (Wha, Whaq When. Where, Why�;
Tax exempt revenue bonds are being issued to pay for the development and construction of
the Rice and Arlington Sports Dome Facility. A special fund needs to be established to
account for the receipt and spending of these bond proceeds.
ADVANTAGESIFAPPFOVED:
Bond proceeds will be properly accounted for and the construction of the facility can
proceed in the necessary timeline to be operational for 1997.
DISADVANTAGES IF APPROVED:
None
�''"� : _.._..���� �i�
1��� � � i���
DISA�VANTAGESIF NOTAPPROVED: -
The facility will not be constructed in the necessary timeline causing a loss of revenue
for 1997.
TOTAL AMOUNT OF TRANSACTION $ 3� 68O � OOO � COST/REVENUE BUDGETED (CIRCLE ONE) VES NO
FUNDIfdGSOURCET EXOmpt R2Venue BondS pCTIVITVNUMBER 23130 23131, 23132
FINANCIAL INFORFSATION� (EXPLAIN)