96-45Council Fle # �p — y5
Green Sheet # � �. 3 � r J`
RESOLUTION
PAUL, MINNESflTA
Presented By
Referred To
Committee: Date
PRELINIINARY RESOLUTION
FOR 1996 BOND ISSUES
BE IT RESOLVED by the Counci7 of the City of Saint Paul, Minnesota, that the Council of the Ciry of 5aint
Paul does hereby give preliminary approval and authorization to City officials to examine the possible issuance of
general obligation bonds to be issued by the City of Saint Paul for (1) Capital Improvements, in an amount to be
determined, and (2) Street Improvement Special Assessment Bonds, in an amount to be determined, and (3) refundings
of prior bond issues to the e�ent that sufficient savings are achieved, and to report back to the Council with
recommendations for the offering and sale thereof by a competitive sale without published notice of sale. The City has
retained an independent financial advisor and hereby determines to sell the bonds by this form of private negotiation.
The Council will then consider a resolution or resolutions fixing the amount and maturity of bonds, and provide for the
sale of said bonds.
Requested by Department of;
Finance and Manaqement Services
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Adopied by Council: Date_
Adoptio Cert�ed by Council
B .�.
Approved by M� r: e_
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� OEPARTMENT/OFFICE/CWNCIL DA7E'INITIATED O
GREEN SHEE N_ 3�395
' and Mana ement Serv' es. - T easury 12-26-95 iNmnwn're � iNmawa� �
CONTAC� PEflSON 8 PHONE `/ � DEPARTMENT DIfiECTOR a CI'fY COUNCIL
�h�. KdIlCOT'OW1C2 266 A��GN OCITYATTO� SOqTYCLEflK
MUST BE ON COUNCIL AGEN�A BY (DATE) qO��FOR O BUDGET DIRECfOFi � FIN. & MGT. SERVIGES Dlfl.
�� � MAYOR (OR ASSISTAti'n �
Janu 10 1996
TOTAL # OF SIGNATURE PAGES (CIIP ALL LOCATIONS FOR SIGNATURE)
ACTION RE�UESTED:
This Preliminarq Resolution gives the Department of Finance and Management Services the authoritp to initiate all
necessaxy action leading to the issuance of Citp General Obli�ation Bonds on March 13, 1996 with City Council
awazding bids that afternoon. These bonds will be sold by competitive bid.
RECOMMENDA710NS: Approve (A) w Reject �q) pERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING QUESTIONS:
_ PLANNMG CAMMISSION _ CIVIL SEflVICE CAMMISSION 1. Has ihis persoMirm ever worketl under a coMracUfor this tlepartment? -
_ CIB COMMITTEE �'ES NO
_� — 2. Has fhis persoNfirm ever been a city employee?
— YES NO
_ DISTRIC7 CAUFi7 _ 3. Does this pereonRirm ossess a skill not normall
p y possessed by any current city employee4
SUPPORTS WHICH COUNCIL OBJECTIVE? � YES NO
Explain all yes enawers on separate sheet and attach to green sheet
INff7ATING PROBLEM.IS9UE.OPPOR7UNITY(WM. What, When, WhBre,�): A OF JANtJARY 10� 1996.
PLEASE PLACE THIS RESOLUTION ON THE COUNCIL A END
The 1996 bonds are for purposes of funding the 1996 Capital Improvement Budget, funding certain street improvements
and refunding certain borid issues. N,j��,�
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ADVANTAGESIFAPPROVED � �
This resolution is preliminary as it only authorizes the Deparkment oP FInance and Management Services to beqin
the I926, bond sale process.
Recommendations on the sale will be presented to the ?9ayor and Cour.cil in January 1996 and a detailed bond sale
resolution calling for the sale will be presented in February 1996.
DISADVANTAGES IFAPPROVED:
None
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DISADVANTAGES IF NOTAPPROVED:
Without a preliminary resolution, the Department o£ Finance and Management Services would not be a�thorized to
initiate necessary action leading to a 1996 bond sale.
TOTAL AMOUNTOFTHANSACTION $ COST/REVENUE BUDGETED (CIRCLE ONE) VES NO
FUNDIHG SOURCE ACTIVITY NUMBER
FINANCIAL INFORMATION: (EXPLAIN)