97-1084��� ���� -�-
.�
� r '`, . _. . . _ . . ;
Presented
���� - a J3 j�7
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
� s
Council File #
Green Sheet #
�irt -� 1 �£S y
32594
��
Referted To: Committee: Date
i WHEREAS, the qsh balances wdhin various funds of the City exceed short tertn needs, and currently are i�vested by the Financiaf
z Service Office, Treasury Section, to yield approximaty 6% in 19967, and
3
a WHEREAS, the City or HRA have initlatives that cannot be financed under current City or State bonding or borrowing authority or laws, and
s
s WHEREAS, the City has the authority to borrow between funds, and has established an Internal Service Fund to wntrol antl moniter
� the transactions between funds, and
8
e WHEREAS, the Ciry will assign the Chief Accountant and City Treasurer as advisory council to review and advise the City on transactions
�o for the use of cash float between funds so as to maiMain iMegrety of the City cash with the minimum risk for the City, and
n
�z WNEREAS, the HRA wants to raise sufficient financing for the Downtown & 7th Place Tau incremeni district 1993 debt refinancing and has
ia offered both Gity and HRA assets and associated revenue streams for sale to accomplish that financing, and
ia
is WHEREAS, an independent analysis has confirmed that the City can prwide the financing at a Iower cost then the proposed transaction, and
is
n WHERFAS, there will be secure assets with sufficient revenoe streams dedicated to the intemal Service Fund to suppod repayment of
�a principal, witfi interest, to the funds advancing the use of cash, now
is
zo THEREFORE BE IT RESOLVED, the City Councii approves the use of the Irrtemal Service Fund to do intertund hansactions of cash within
n the city funds as allowed by law, and
zz
zs BE IT FURTHER RESOLVED, that all loans created by the Internaf Service Fund must be approved by City Council Resolution the proposaf
2a herein set forth in this Resolution are approved, a�d
zs
zs 6E IT FURTHER RESOIVED, that all loa�s pay interest floating with the City treasury portfolio investment rete, but not to exceed 6.5%, and
2�
zs BE IT FURTHER RESOLVED, the Chief Accountant and the City Treasurer will adjust the cash float to "cash rich" funds aflowed by law, to
zs v s ci sadi ns and s ur@ that intere t i paid and properly cr dit d, ow
� �� ��t ��a�.��, t�at aJl� interna� �orrowing and of repayment be re and
ratea ior inves men aua i v v an imoaz ia ai' n��au inanc a ins i u io�n a�n fha�
si � ntrctrurtt, tne ���ayor, pursuant to sec. tOAL[la oi tne c�ry cha er, recommen s e o o mg c ange� o e 199 u ge .
32
33 Current Amended
aa Butlget Change Budget
as FINANCING PLAN: Internai Borrowing Fund
ss Gl 070 10300 6928 Advance from Other Funds 0 15,295,000 15,295,000
a� GL 070 10300 6XXX loan repayments 0 15,295,000 15,295,000
ae AII OYher Fund Financing 0 0 0
3s 0 30,590,000 30 590 000
ao
ai SPENDING PLAN: Intemal Borrowing Fund
az GL 070 10300 0599 Acquisistion of Loans Receivable 0 15,295,000 15,295,000
as GL 070 10300 0545 Contribution to HRA (Dwnhvn TfF) 0 15,295,000 15,295,000
aa AII Other Fund Spending 0 Q 0
as 0 30 590 000 30 590 000
as
a� FINANCING PLAN:
aa GL 001 00000 6922 Repayment of Advance to Others 0 4,295,000 4,295,000
as All Other Funtl Financing 151,575,227 0 151,575,227
so " 151,575227 4295000 155,870,227
ei
sz SPENDING PLAN:
sa GL 001 00000 0535 Recoverable Advance from Others 0 4,295,000 4,295,000
5a AIIOtherFundSpending 151,575,227 0 151,575,227
5s 151,575,227 4,295,OOD 155870227
n
council File #
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented
Referred To:
Green Sheet #
Committee: Date
� l
32594
i
z
z
a
5
6
7
a
9
io
ti
12
73
in
15
ts
tt
is
te
zo
21
22
23
24
zs
2s
27
2e
29
�
ai
32
33
3A
35
36
37
�
39
40
at
az
�
�
as
as
a7
4s
as
�
57
52
53
�
CONTINUATION :
FINANCING PLAN:
GL 802 00000 6922 Repayment ofAdvance to Others
Afl Other Fund Financing
SPENDING PIAN:
GL 802 00000 0535 Recoverable Advance from Others
All Other Fund Spending
FINANCING PLAN:
GL 930 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 930 00000 0535 Recoverable Ativance from Others
All Other Fund Spending
FINANCING PLAN:
GL 2fi0 OQ000 6922 Repayme�t of Advance to Others
AIt Other Fund Financing
SPENDING PLAN:
GL 260 00000 0535 Recoverable Advance from Others
All Other Funtl Spending
FINANCING PLAN:
GL 24� �0�00 6922 Repayment of Advance to Othere
AII Other Fund Financing
SPENDING PLAN:
GL 240 00000 0535 Recoverable Ativance from Others
AI1 Other Fund Spending
FINANCING PLAN:
GL 245 00000 6922 Repayment of Advance to Others
All Other Fu�d Financing
SPENDING PLAN:
GL 245 00000 0535 Recoverable Advance From Others
All Other Fund Spending
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Q
0
0
0
0
0
0
500,000
0
5Q�,000
500,000
0
500,000
4,QOQ,000
0
4,000,�00
4,000,000
0
4,000,000
4,�00,000
0
4.000 000
4,000,000
0
4,000,000
25a,000
D
250,000
250,000
0
250.000
250,OD0
0
25D 000
250,000
0
250,000
500,000
0
500 0�0
500,000
0
500,000
4,0�0,00�
0
4,000,�00
4,000,000
0
4,000,000
4,000,�00
0
4 000 000
4,000,000
0
4,000,000
250,�00
0
250 000
250,000
0
250,000
250,ODD
0
250,000
250,000
0
250 060
Council File # � � — � ���
Green Sheet# 32594
Presented By:
Referred Ta:
Committee: Date
z FINANqNG PLAN:
a GL 130 00000 6922 Repayment of Advance to Others 0
a Alt Other Fund Financing 50
s 50
s
s
iu
71
72
13
ia
15
16
n
18
19
zo
a�
zz
23
2a
25
20
SPENDING PLAN:
GL 130 Q000� �535 Recoverable Advance from Others
AII Other Fund Spending
FINANCING PLAN:
GL 165 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 165 00000 0535 Recoverabfe Advance from Others
Ail Other Fund Spending
FINANCING PLAN:
GL 436 00000 6922 Repayment of Adva�ce to Others
All Other Fund Financing
0
50
—�
0
5�
50
0
50
50
0
50
5�
z� SPENDING PLAN:
2a GL 436 00000 0535 Recoverable Advance from Others 0
zs All Other Fund Spending 50
30 $Q
3t
40
4i RESOLVED, that the City Council approves these changes to the 1997 budget.
az
1,000,000
0
1,000,�0�
1,��0,000
0
t,000,D00
1,000,000
50
t, 0�,050
1,00�,�00
50
1,000,050
500,OD0
Q
500,000
�� ���
1
�� ���
5�0,0�0
0
5D0,000
�� ���
�
�� 1�1
Requested by Department of:
Adoption / C�ertified by Council Secretary:
BY� 11 \..� �1 . �r
Approved 6y Mayor. Date �� t�1 T
BY: � l. � V � �-
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
SD0,000
50
5 0,05
500,000
50
500,0 0
500,�Q0
50
500,05D
500,ODD
50
6� O5�
Financial Services O ice - Tr sury
�
By: Shirley Davi
Approval Recommended by Budget Diredor: �
B �.Yr— 1 L.is-c..�S�
Form Ap ed by Cit Attorne :
B y � ��
Approved by Mayor f ubmission to Council:
By: �/ �
^5a(mPamBUdyetoirce(n:44���vesoWtian ��musnnm.wKa) oufaro�
Adopted by Council: Date 99 �'3 � °'�—_
5
OEPARTF@NC(OFf1CPfWONCLL OATEIMMtPD �'.P� � I O
�xnNCm.r,sERVICES C Tre 0&13-97 GREEN SHEET NO. 32594 �
WM'.1C(PF]LSON&PHONE � DEPARITffN'1'D➢tEC1Y)R � GTR'WUNCrt.
ShirleyDavis, 266-8839 t �s am"rronrmr _ � cmc�.ouc
ANSTHEONWlINC6.AG9mA8YNA OS FYIANCITLSEAV[CES➢@. O F41�tOtF.ACC1'G.
O MAYOA(�RASSiSI'AMJ �
TOTAL # OF SIGNATfJRE PAGES (CLIP ALL LOCATIONS FOR SIGNA'NRE)
ONAEQUESIID
Establish Fund and financwg far intemal borrowing
PF[DAAffsOA]IONS:A4pmve(A)orl4jea(R) I PERSONALSERVICECON7'RACfSMUSfANSWERTAEFOLLOWINGQUESITONS:
e�.ntmma�O�o-masSWtv clw.satnCewamasvota 1.HattSispa2odficmeverwodced�mderacontactforthisdepaztment?
cm co�w.m'rv� YES NO
_ n _ s'� _ 2.Hasthispc�soNS=meverbernaciTyemployee?
Drsce[amaei _ YFS NO
sUeeox'rs wtnCxmmvm,oa�ECtrv�'r 3. Does this persodSlm possess a slall not noemallypossessed by avy avrtent ciry cmployee�
YFS NO
(L'xPlain a119a avawexsou xpnrah5httt end altaeh M grceu s4eeL)
NRTIA'ffIJGPROSLEM1I,ISSUE.OPPORNN(h'M�,�4�m,M1� ,WhY)
The Cash baiances from several funds of the city can be used For iutemal bonowing. Under the right c'acwnstances Yhis approach cau save substaatial interest
and bonowing charges.
T(ils resolution establishes tUat Internal Service Fund -"IN'iBRNAL BORROWING FIJND", wiLl use cash balances from selecfed funds of the City, to
make ]oans to other City or HRA funds that qualify as "bankable" and have a revenue stream that wi11 repay ffie funds over a specified schedule.
AUVANTAGFSIFAPPROVED
The city will have an altemative source of financing for self-Snanced initiatives that have the advantage of keeping costs low.
The ciry can lend itself money, using cash float from one or more funds to finance pmjects, but only those projects having real xevenues to repay that loan.
D6ADVqNTpGPSIFAPPAOVEO.
Financing may be approved For initiarives that have limited potenfial to repay obligafions.
IDSAiI VANTAGES OF NOS APPItOVID'
The Ciry must continually tum to the outside finaneial community, and pay taxable interest rates for projects it has the wherewithall to finance itself.
rorncnniomrrovrwwswrnox 515295000.00 wsrmeve�+oesoncsrfin�cmcceom� ves rvo
ammmcsouRCe Miscelianeous ncn�rrr�o�en GL - 070 -10300 - xXbc
FAIANCiAt PTOItMAItON. (EXPLApJ)
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4 �d
9�l - �ogy
(.- � re-
BE IT FURTHER RESOLVED, that all internal borrowing and pledges of repayment be
reviewed and rated for investment quality by an unpartial Saint Paul financial institution and that
informafion be provided City Council for consideration in its decision, and
��� ���� -�-
.�
� r '`, . _. . . _ . . ;
Presented
���� - a J3 j�7
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
� s
Council File #
Green Sheet #
�irt -� 1 �£S y
32594
��
Referted To: Committee: Date
i WHEREAS, the qsh balances wdhin various funds of the City exceed short tertn needs, and currently are i�vested by the Financiaf
z Service Office, Treasury Section, to yield approximaty 6% in 19967, and
3
a WHEREAS, the City or HRA have initlatives that cannot be financed under current City or State bonding or borrowing authority or laws, and
s
s WHEREAS, the City has the authority to borrow between funds, and has established an Internal Service Fund to wntrol antl moniter
� the transactions between funds, and
8
e WHEREAS, the Ciry will assign the Chief Accountant and City Treasurer as advisory council to review and advise the City on transactions
�o for the use of cash float between funds so as to maiMain iMegrety of the City cash with the minimum risk for the City, and
n
�z WNEREAS, the HRA wants to raise sufficient financing for the Downtown & 7th Place Tau incremeni district 1993 debt refinancing and has
ia offered both Gity and HRA assets and associated revenue streams for sale to accomplish that financing, and
ia
is WHEREAS, an independent analysis has confirmed that the City can prwide the financing at a Iower cost then the proposed transaction, and
is
n WHERFAS, there will be secure assets with sufficient revenoe streams dedicated to the intemal Service Fund to suppod repayment of
�a principal, witfi interest, to the funds advancing the use of cash, now
is
zo THEREFORE BE IT RESOLVED, the City Councii approves the use of the Irrtemal Service Fund to do intertund hansactions of cash within
n the city funds as allowed by law, and
zz
zs BE IT FURTHER RESOLVED, that all loans created by the Internaf Service Fund must be approved by City Council Resolution the proposaf
2a herein set forth in this Resolution are approved, a�d
zs
zs 6E IT FURTHER RESOIVED, that all loa�s pay interest floating with the City treasury portfolio investment rete, but not to exceed 6.5%, and
2�
zs BE IT FURTHER RESOLVED, the Chief Accountant and the City Treasurer will adjust the cash float to "cash rich" funds aflowed by law, to
zs v s ci sadi ns and s ur@ that intere t i paid and properly cr dit d, ow
� �� ��t ��a�.��, t�at aJl� interna� �orrowing and of repayment be re and
ratea ior inves men aua i v v an imoaz ia ai' n��au inanc a ins i u io�n a�n fha�
si � ntrctrurtt, tne ���ayor, pursuant to sec. tOAL[la oi tne c�ry cha er, recommen s e o o mg c ange� o e 199 u ge .
32
33 Current Amended
aa Butlget Change Budget
as FINANCING PLAN: Internai Borrowing Fund
ss Gl 070 10300 6928 Advance from Other Funds 0 15,295,000 15,295,000
a� GL 070 10300 6XXX loan repayments 0 15,295,000 15,295,000
ae AII OYher Fund Financing 0 0 0
3s 0 30,590,000 30 590 000
ao
ai SPENDING PLAN: Intemal Borrowing Fund
az GL 070 10300 0599 Acquisistion of Loans Receivable 0 15,295,000 15,295,000
as GL 070 10300 0545 Contribution to HRA (Dwnhvn TfF) 0 15,295,000 15,295,000
aa AII Other Fund Spending 0 Q 0
as 0 30 590 000 30 590 000
as
a� FINANCING PLAN:
aa GL 001 00000 6922 Repayment of Advance to Others 0 4,295,000 4,295,000
as All Other Funtl Financing 151,575,227 0 151,575,227
so " 151,575227 4295000 155,870,227
ei
sz SPENDING PLAN:
sa GL 001 00000 0535 Recoverable Advance from Others 0 4,295,000 4,295,000
5a AIIOtherFundSpending 151,575,227 0 151,575,227
5s 151,575,227 4,295,OOD 155870227
n
council File #
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented
Referred To:
Green Sheet #
Committee: Date
� l
32594
i
z
z
a
5
6
7
a
9
io
ti
12
73
in
15
ts
tt
is
te
zo
21
22
23
24
zs
2s
27
2e
29
�
ai
32
33
3A
35
36
37
�
39
40
at
az
�
�
as
as
a7
4s
as
�
57
52
53
�
CONTINUATION :
FINANCING PLAN:
GL 802 00000 6922 Repayment ofAdvance to Others
Afl Other Fund Financing
SPENDING PIAN:
GL 802 00000 0535 Recoverable Advance from Others
All Other Fund Spending
FINANCING PLAN:
GL 930 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 930 00000 0535 Recoverable Ativance from Others
All Other Fund Spending
FINANCING PLAN:
GL 2fi0 OQ000 6922 Repayme�t of Advance to Others
AIt Other Fund Financing
SPENDING PLAN:
GL 260 00000 0535 Recoverable Advance from Others
All Other Funtl Spending
FINANCING PLAN:
GL 24� �0�00 6922 Repayment of Advance to Othere
AII Other Fund Financing
SPENDING PLAN:
GL 240 00000 0535 Recoverable Ativance from Others
AI1 Other Fund Spending
FINANCING PLAN:
GL 245 00000 6922 Repayment of Advance to Others
All Other Fu�d Financing
SPENDING PLAN:
GL 245 00000 0535 Recoverable Advance From Others
All Other Fund Spending
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Q
0
0
0
0
0
0
500,000
0
5Q�,000
500,000
0
500,000
4,QOQ,000
0
4,000,�00
4,000,000
0
4,000,000
4,�00,000
0
4.000 000
4,000,000
0
4,000,000
25a,000
D
250,000
250,000
0
250.000
250,OD0
0
25D 000
250,000
0
250,000
500,000
0
500 0�0
500,000
0
500,000
4,0�0,00�
0
4,000,�00
4,000,000
0
4,000,000
4,000,�00
0
4 000 000
4,000,000
0
4,000,000
250,�00
0
250 000
250,000
0
250,000
250,ODD
0
250,000
250,000
0
250 060
Council File # � � — � ���
Green Sheet# 32594
Presented By:
Referred Ta:
Committee: Date
z FINANqNG PLAN:
a GL 130 00000 6922 Repayment of Advance to Others 0
a Alt Other Fund Financing 50
s 50
s
s
iu
71
72
13
ia
15
16
n
18
19
zo
a�
zz
23
2a
25
20
SPENDING PLAN:
GL 130 Q000� �535 Recoverable Advance from Others
AII Other Fund Spending
FINANCING PLAN:
GL 165 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 165 00000 0535 Recoverabfe Advance from Others
Ail Other Fund Spending
FINANCING PLAN:
GL 436 00000 6922 Repayment of Adva�ce to Others
All Other Fund Financing
0
50
—�
0
5�
50
0
50
50
0
50
5�
z� SPENDING PLAN:
2a GL 436 00000 0535 Recoverable Advance from Others 0
zs All Other Fund Spending 50
30 $Q
3t
40
4i RESOLVED, that the City Council approves these changes to the 1997 budget.
az
1,000,000
0
1,000,�0�
1,��0,000
0
t,000,D00
1,000,000
50
t, 0�,050
1,00�,�00
50
1,000,050
500,OD0
Q
500,000
�� ���
1
�� ���
5�0,0�0
0
5D0,000
�� ���
�
�� 1�1
Requested by Department of:
Adoption / C�ertified by Council Secretary:
BY� 11 \..� �1 . �r
Approved 6y Mayor. Date �� t�1 T
BY: � l. � V � �-
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
SD0,000
50
5 0,05
500,000
50
500,0 0
500,�Q0
50
500,05D
500,ODD
50
6� O5�
Financial Services O ice - Tr sury
�
By: Shirley Davi
Approval Recommended by Budget Diredor: �
B �.Yr— 1 L.is-c..�S�
Form Ap ed by Cit Attorne :
B y � ��
Approved by Mayor f ubmission to Council:
By: �/ �
^5a(mPamBUdyetoirce(n:44���vesoWtian ��musnnm.wKa) oufaro�
Adopted by Council: Date 99 �'3 � °'�—_
5
OEPARTF@NC(OFf1CPfWONCLL OATEIMMtPD �'.P� � I O
�xnNCm.r,sERVICES C Tre 0&13-97 GREEN SHEET NO. 32594 �
WM'.1C(PF]LSON&PHONE � DEPARITffN'1'D➢tEC1Y)R � GTR'WUNCrt.
ShirleyDavis, 266-8839 t �s am"rronrmr _ � cmc�.ouc
ANSTHEONWlINC6.AG9mA8YNA OS FYIANCITLSEAV[CES➢@. O F41�tOtF.ACC1'G.
O MAYOA(�RASSiSI'AMJ �
TOTAL # OF SIGNATfJRE PAGES (CLIP ALL LOCATIONS FOR SIGNA'NRE)
ONAEQUESIID
Establish Fund and financwg far intemal borrowing
PF[DAAffsOA]IONS:A4pmve(A)orl4jea(R) I PERSONALSERVICECON7'RACfSMUSfANSWERTAEFOLLOWINGQUESITONS:
e�.ntmma�O�o-masSWtv clw.satnCewamasvota 1.HattSispa2odficmeverwodced�mderacontactforthisdepaztment?
cm co�w.m'rv� YES NO
_ n _ s'� _ 2.Hasthispc�soNS=meverbernaciTyemployee?
Drsce[amaei _ YFS NO
sUeeox'rs wtnCxmmvm,oa�ECtrv�'r 3. Does this persodSlm possess a slall not noemallypossessed by avy avrtent ciry cmployee�
YFS NO
(L'xPlain a119a avawexsou xpnrah5httt end altaeh M grceu s4eeL)
NRTIA'ffIJGPROSLEM1I,ISSUE.OPPORNN(h'M�,�4�m,M1� ,WhY)
The Cash baiances from several funds of the city can be used For iutemal bonowing. Under the right c'acwnstances Yhis approach cau save substaatial interest
and bonowing charges.
T(ils resolution establishes tUat Internal Service Fund -"IN'iBRNAL BORROWING FIJND", wiLl use cash balances from selecfed funds of the City, to
make ]oans to other City or HRA funds that qualify as "bankable" and have a revenue stream that wi11 repay ffie funds over a specified schedule.
AUVANTAGFSIFAPPROVED
The city will have an altemative source of financing for self-Snanced initiatives that have the advantage of keeping costs low.
The ciry can lend itself money, using cash float from one or more funds to finance pmjects, but only those projects having real xevenues to repay that loan.
D6ADVqNTpGPSIFAPPAOVEO.
Financing may be approved For initiarives that have limited potenfial to repay obligafions.
IDSAiI VANTAGES OF NOS APPItOVID'
The Ciry must continually tum to the outside finaneial community, and pay taxable interest rates for projects it has the wherewithall to finance itself.
rorncnniomrrovrwwswrnox 515295000.00 wsrmeve�+oesoncsrfin�cmcceom� ves rvo
ammmcsouRCe Miscelianeous ncn�rrr�o�en GL - 070 -10300 - xXbc
FAIANCiAt PTOItMAItON. (EXPLApJ)
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� �Nf7VN+�1�
�I
4 �d
9�l - �ogy
(.- � re-
BE IT FURTHER RESOLVED, that all internal borrowing and pledges of repayment be
reviewed and rated for investment quality by an unpartial Saint Paul financial institution and that
informafion be provided City Council for consideration in its decision, and
��� ���� -�-
.�
� r '`, . _. . . _ . . ;
Presented
���� - a J3 j�7
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
� s
Council File #
Green Sheet #
�irt -� 1 �£S y
32594
��
Referted To: Committee: Date
i WHEREAS, the qsh balances wdhin various funds of the City exceed short tertn needs, and currently are i�vested by the Financiaf
z Service Office, Treasury Section, to yield approximaty 6% in 19967, and
3
a WHEREAS, the City or HRA have initlatives that cannot be financed under current City or State bonding or borrowing authority or laws, and
s
s WHEREAS, the City has the authority to borrow between funds, and has established an Internal Service Fund to wntrol antl moniter
� the transactions between funds, and
8
e WHEREAS, the Ciry will assign the Chief Accountant and City Treasurer as advisory council to review and advise the City on transactions
�o for the use of cash float between funds so as to maiMain iMegrety of the City cash with the minimum risk for the City, and
n
�z WNEREAS, the HRA wants to raise sufficient financing for the Downtown & 7th Place Tau incremeni district 1993 debt refinancing and has
ia offered both Gity and HRA assets and associated revenue streams for sale to accomplish that financing, and
ia
is WHEREAS, an independent analysis has confirmed that the City can prwide the financing at a Iower cost then the proposed transaction, and
is
n WHERFAS, there will be secure assets with sufficient revenoe streams dedicated to the intemal Service Fund to suppod repayment of
�a principal, witfi interest, to the funds advancing the use of cash, now
is
zo THEREFORE BE IT RESOLVED, the City Councii approves the use of the Irrtemal Service Fund to do intertund hansactions of cash within
n the city funds as allowed by law, and
zz
zs BE IT FURTHER RESOLVED, that all loans created by the Internaf Service Fund must be approved by City Council Resolution the proposaf
2a herein set forth in this Resolution are approved, a�d
zs
zs 6E IT FURTHER RESOIVED, that all loa�s pay interest floating with the City treasury portfolio investment rete, but not to exceed 6.5%, and
2�
zs BE IT FURTHER RESOLVED, the Chief Accountant and the City Treasurer will adjust the cash float to "cash rich" funds aflowed by law, to
zs v s ci sadi ns and s ur@ that intere t i paid and properly cr dit d, ow
� �� ��t ��a�.��, t�at aJl� interna� �orrowing and of repayment be re and
ratea ior inves men aua i v v an imoaz ia ai' n��au inanc a ins i u io�n a�n fha�
si � ntrctrurtt, tne ���ayor, pursuant to sec. tOAL[la oi tne c�ry cha er, recommen s e o o mg c ange� o e 199 u ge .
32
33 Current Amended
aa Butlget Change Budget
as FINANCING PLAN: Internai Borrowing Fund
ss Gl 070 10300 6928 Advance from Other Funds 0 15,295,000 15,295,000
a� GL 070 10300 6XXX loan repayments 0 15,295,000 15,295,000
ae AII OYher Fund Financing 0 0 0
3s 0 30,590,000 30 590 000
ao
ai SPENDING PLAN: Intemal Borrowing Fund
az GL 070 10300 0599 Acquisistion of Loans Receivable 0 15,295,000 15,295,000
as GL 070 10300 0545 Contribution to HRA (Dwnhvn TfF) 0 15,295,000 15,295,000
aa AII Other Fund Spending 0 Q 0
as 0 30 590 000 30 590 000
as
a� FINANCING PLAN:
aa GL 001 00000 6922 Repayment of Advance to Others 0 4,295,000 4,295,000
as All Other Funtl Financing 151,575,227 0 151,575,227
so " 151,575227 4295000 155,870,227
ei
sz SPENDING PLAN:
sa GL 001 00000 0535 Recoverable Advance from Others 0 4,295,000 4,295,000
5a AIIOtherFundSpending 151,575,227 0 151,575,227
5s 151,575,227 4,295,OOD 155870227
n
council File #
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented
Referred To:
Green Sheet #
Committee: Date
� l
32594
i
z
z
a
5
6
7
a
9
io
ti
12
73
in
15
ts
tt
is
te
zo
21
22
23
24
zs
2s
27
2e
29
�
ai
32
33
3A
35
36
37
�
39
40
at
az
�
�
as
as
a7
4s
as
�
57
52
53
�
CONTINUATION :
FINANCING PLAN:
GL 802 00000 6922 Repayment ofAdvance to Others
Afl Other Fund Financing
SPENDING PIAN:
GL 802 00000 0535 Recoverable Advance from Others
All Other Fund Spending
FINANCING PLAN:
GL 930 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 930 00000 0535 Recoverable Ativance from Others
All Other Fund Spending
FINANCING PLAN:
GL 2fi0 OQ000 6922 Repayme�t of Advance to Others
AIt Other Fund Financing
SPENDING PLAN:
GL 260 00000 0535 Recoverable Advance from Others
All Other Funtl Spending
FINANCING PLAN:
GL 24� �0�00 6922 Repayment of Advance to Othere
AII Other Fund Financing
SPENDING PLAN:
GL 240 00000 0535 Recoverable Ativance from Others
AI1 Other Fund Spending
FINANCING PLAN:
GL 245 00000 6922 Repayment of Advance to Others
All Other Fu�d Financing
SPENDING PLAN:
GL 245 00000 0535 Recoverable Advance From Others
All Other Fund Spending
0
0
0
0
0
0
0
D
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Q
0
0
0
0
0
0
500,000
0
5Q�,000
500,000
0
500,000
4,QOQ,000
0
4,000,�00
4,000,000
0
4,000,000
4,�00,000
0
4.000 000
4,000,000
0
4,000,000
25a,000
D
250,000
250,000
0
250.000
250,OD0
0
25D 000
250,000
0
250,000
500,000
0
500 0�0
500,000
0
500,000
4,0�0,00�
0
4,000,�00
4,000,000
0
4,000,000
4,000,�00
0
4 000 000
4,000,000
0
4,000,000
250,�00
0
250 000
250,000
0
250,000
250,ODD
0
250,000
250,000
0
250 060
Council File # � � — � ���
Green Sheet# 32594
Presented By:
Referred Ta:
Committee: Date
z FINANqNG PLAN:
a GL 130 00000 6922 Repayment of Advance to Others 0
a Alt Other Fund Financing 50
s 50
s
s
iu
71
72
13
ia
15
16
n
18
19
zo
a�
zz
23
2a
25
20
SPENDING PLAN:
GL 130 Q000� �535 Recoverable Advance from Others
AII Other Fund Spending
FINANCING PLAN:
GL 165 00000 6922 Repayment of Advance to Others
All Other Fund Financing
SPENDING PLAN:
GL 165 00000 0535 Recoverabfe Advance from Others
Ail Other Fund Spending
FINANCING PLAN:
GL 436 00000 6922 Repayment of Adva�ce to Others
All Other Fund Financing
0
50
—�
0
5�
50
0
50
50
0
50
5�
z� SPENDING PLAN:
2a GL 436 00000 0535 Recoverable Advance from Others 0
zs All Other Fund Spending 50
30 $Q
3t
40
4i RESOLVED, that the City Council approves these changes to the 1997 budget.
az
1,000,000
0
1,000,�0�
1,��0,000
0
t,000,D00
1,000,000
50
t, 0�,050
1,00�,�00
50
1,000,050
500,OD0
Q
500,000
�� ���
1
�� ���
5�0,0�0
0
5D0,000
�� ���
�
�� 1�1
Requested by Department of:
Adoption / C�ertified by Council Secretary:
BY� 11 \..� �1 . �r
Approved 6y Mayor. Date �� t�1 T
BY: � l. � V � �-
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
SD0,000
50
5 0,05
500,000
50
500,0 0
500,�Q0
50
500,05D
500,ODD
50
6� O5�
Financial Services O ice - Tr sury
�
By: Shirley Davi
Approval Recommended by Budget Diredor: �
B �.Yr— 1 L.is-c..�S�
Form Ap ed by Cit Attorne :
B y � ��
Approved by Mayor f ubmission to Council:
By: �/ �
^5a(mPamBUdyetoirce(n:44���vesoWtian ��musnnm.wKa) oufaro�
Adopted by Council: Date 99 �'3 � °'�—_
5
OEPARTF@NC(OFf1CPfWONCLL OATEIMMtPD �'.P� � I O
�xnNCm.r,sERVICES C Tre 0&13-97 GREEN SHEET NO. 32594 �
WM'.1C(PF]LSON&PHONE � DEPARITffN'1'D➢tEC1Y)R � GTR'WUNCrt.
ShirleyDavis, 266-8839 t �s am"rronrmr _ � cmc�.ouc
ANSTHEONWlINC6.AG9mA8YNA OS FYIANCITLSEAV[CES➢@. O F41�tOtF.ACC1'G.
O MAYOA(�RASSiSI'AMJ �
TOTAL # OF SIGNATfJRE PAGES (CLIP ALL LOCATIONS FOR SIGNA'NRE)
ONAEQUESIID
Establish Fund and financwg far intemal borrowing
PF[DAAffsOA]IONS:A4pmve(A)orl4jea(R) I PERSONALSERVICECON7'RACfSMUSfANSWERTAEFOLLOWINGQUESITONS:
e�.ntmma�O�o-masSWtv clw.satnCewamasvota 1.HattSispa2odficmeverwodced�mderacontactforthisdepaztment?
cm co�w.m'rv� YES NO
_ n _ s'� _ 2.Hasthispc�soNS=meverbernaciTyemployee?
Drsce[amaei _ YFS NO
sUeeox'rs wtnCxmmvm,oa�ECtrv�'r 3. Does this persodSlm possess a slall not noemallypossessed by avy avrtent ciry cmployee�
YFS NO
(L'xPlain a119a avawexsou xpnrah5httt end altaeh M grceu s4eeL)
NRTIA'ffIJGPROSLEM1I,ISSUE.OPPORNN(h'M�,�4�m,M1� ,WhY)
The Cash baiances from several funds of the city can be used For iutemal bonowing. Under the right c'acwnstances Yhis approach cau save substaatial interest
and bonowing charges.
T(ils resolution establishes tUat Internal Service Fund -"IN'iBRNAL BORROWING FIJND", wiLl use cash balances from selecfed funds of the City, to
make ]oans to other City or HRA funds that qualify as "bankable" and have a revenue stream that wi11 repay ffie funds over a specified schedule.
AUVANTAGFSIFAPPROVED
The city will have an altemative source of financing for self-Snanced initiatives that have the advantage of keeping costs low.
The ciry can lend itself money, using cash float from one or more funds to finance pmjects, but only those projects having real xevenues to repay that loan.
D6ADVqNTpGPSIFAPPAOVEO.
Financing may be approved For initiarives that have limited potenfial to repay obligafions.
IDSAiI VANTAGES OF NOS APPItOVID'
The Ciry must continually tum to the outside finaneial community, and pay taxable interest rates for projects it has the wherewithall to finance itself.
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BE IT FURTHER RESOLVED, that all internal borrowing and pledges of repayment be
reviewed and rated for investment quality by an unpartial Saint Paul financial institution and that
informafion be provided City Council for consideration in its decision, and