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97-247. Presented By Referred To 1 2 3 4 5 6 7 8 s io �� t2 13 14 '15 �s �� is 19 20 2t � 23 24 2s 2s 27 2s 29 30 31 32 33 34 35 36 37 38 [ Council File # l � � aZ � � � � k � ? ' � i �i k�, � _� , ; ��., r=� � Green Sheet # �� iOLUT10N I' PAUL, MINNESOTA Committee: Date RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A FII2ST AMENDMENT TO PLEDGE AGREEMENT WHEREAS, � 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") proposes to issue its Taxable Parking Revenue Bonds, Series 1997A in the approximate principal amount of $13,000,000 (the "Series 1997A Bonds") pursuant to the Indenture of Trust dated as of March 1, 1997 by and between the Authority and First Trust National Association, in St. Paul, Minnesota (the "Trustee") to finance an ea�pansion of an existing municipal parking ramp commonly referred to as the Seventh Street Ramp (the "Seventh Street Ramp") and certain public redevelopment costs related to the Downtown Redevelopment Project area (collectively, the "Project"). 2. The Series 1997A Bonds aze to be secured by, among other things, the net revenues derived from the parldng ramp commonly known as the Seventh Street Ramp (the "Seventh Street Ramp"}. 3. The C`ity and the Authority have heretofore entered into a Pledge Agreement dated as of June 1, 1995 (the "Prior Pledge Agreement") pursuant to which net revenues of various parking ramps and lots, including the Seventh Street Ramp, were pledged to the payment of the Authority's Variable Rate Demand Parking Revenue Bonds, Series 1445 and its Parking Revenue Refunding Bonds, Series 1945 (the "Prior Bonds"). 4. In order to facilitate the issuance of the Series 1997A Bonds, it is necessary to amend the Prior Pledge Agreement to delete the Seventh Street Ramp from the definition of Parl�ng Facilities subject to the Prior Pledge Agreement. 5. A form of the First Amendment to Pledge P�greement (the "First Amendment to Pledge Agreement") has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of the same. 340432.2 t 2 3 4 s s 7 a s io i� 12 13 ia is 16 �� a �s � 2i � 23 24 25 26 27 2s 2s RESOLVED: q�-a�t� 1. The City Council hereby approves the First Amendment to Pledge Agreement and authorizes the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services to execute the First Amendment to Pledge Agreement in substanfially the form submitted. Any other documents, agreements and certificates necessary to reflect the amendment of the Pledge Agreement shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fuznish certified copies of all proceedings and records of the City relating to the transaction described above, and such other affidavits and legality of the First Amendment to Pledge Agreement as such facts appear from the books and records in the officers' custody and control of as otherwise I�own to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of al statements contained therein. 3. The approval hereby given to the First Amendment to Pledge Agreement includes approval of such additional details therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary and appropriate and be approved by the City's staff, City Attorney and Bond Counsel prior to their execution; said staf� C`ity Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereo£ In the absence of the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. Requested by Department of: Adoption Cert'rfied by Council Secretary By: � � PLANNING AND ECONOAffC DEVELOPMII�'P Rv /��A.s.eL/�z(//�' , � • '�.;�� • r• y � � a� � y~ C� ;.�i_�/�L pproved� ayor for Submission to Council y � � Adopted by Cou�cil: Date � � � �\Ztry 9� -ay� �� p DATE I ITIATED v i c v v /.��(/� / GREEN S P EFiSON & PHONE � Z` INtTI MRIAUDAiE [/p � � �EPARTMEf3i DIflECiOR C(TY COUNGL �� '`�" 6-66y3 N flFON �C�AT'fORNEY CRYCLERK MUS7 8E ON CAUNCIL AGENDA BY (�ATE qp�p� BUOGET DIRE � FW. & MCaL SERVICES DIR. 7 � ONDEfl � y�AYOfl (ORASSISTANT) ❑ c� TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS POR SIGNATURE) ACT N REQUESTEO: � C � 7 , r /J y �ly�f �, �-� � � �.-t-� � Lu�a--.� �� RECOMMENDAiIONS: Approve (A) or qeject (fl) PERSONAL SERVICE CONTRACTS MUS7 ANSWER THE FOLLOWING QUESTIONS: _ PLqNNING COMMISSION _ CIVIL SERVICE COMMISSION �� H85 this person/firm eVer Wofketl untler a COntraCt for this dep3rtment? • _ CIB COMMITTEE _ VES NO 2. Has this personfirm ever been a ciry employee? __ STAFF — yE$ NO _ oISiAIC7 CouBi — 3. Does Nis persoMfirtn possess a skill not normally possessed by any currert city employee? SUPPoRTS WHICH COUNCIL OBJECfIVE? YES � NO Explain all yes answels on separate sheet and attach to green sheet 1NIT1qTING PRpBLEM, ISSUE, OPPORTUNIN (WFw. Wnat, Whan, Where. W g /�� >< � D � . � � Ti�( .��iL�ti� � ✓✓— '�i6�v�+✓�- �V`.'6n1r.r�-_. � l �L�.f/[..Pf // � 7' -� �z�,� �'-z �%'�- �'°��'✓ �� ,Gu�O, � 1faC/f � �r�� -�e�G� ��`�"3 AOVANTAGES IF APPflOVED: 7`4 �'C%�� f � ��-,--� �� - �� r � R ��iV�`� OISADVANTAGES IF APPROVED'. ��-e �a�o�� p�� (.'�� £s �� 997 Council Research Center �� _.:?. ,. ; ��'c7 ��I OISADVANTAGES IF NOTAPPRoVEO� � ./f � G / � � � ,/ �.�--a -�-e� /�` J �"� �Z-�,�- ��r� � � r ,_ . _ _ (i . _„ p��,�-� TOTAL AMOUNT OF TRANSACTION S �� COST/REVENUE BUDGETEO (qRCLE ON� YES NO FUNDIqG SOURCE ACTIVI7Y NUMBER FINANCIAL INFORhiATION (EXPLAIN) a�•l4'1 FSRST AMENDMENT TO PLEDGE AGREEMENT THIS FIRST AMENDMENT TO PLEDGE AGREEMENT is daCed as of this lst day of January, 1997, by and between the City of Saint Pau7., Minnesota (the "City��) and the Housing and Redevelopment Authority of the City of Saint Pau1, Minnesota (the "HRA��). WHEREAS, the City and the HRA have heretofore entered into that certain Pledge Agreement dated as of June 1, 1945, relating to the pledge of certain revenues derived from certain Parking Facilities (as defined in the Pledge Agreement? to the HRA�s Parking Revenue Refunding Bonds, Series 1995A, its Variable Rate Demand Parking Revenue Bonds, Series 1995B, and Exhibit Hall Parking Ramp Subordinated Revenue Note, Series 1995 (the "Secured Obligations"). WHEREAS, the City and the HRA desire to amend the Pledge Agreement to delete the parking ramp commonly known as the World Trade Center Ramp (the "WTC Ramp") located at the intersection of North Wabasha Street and East Seventh Street, from the definition of Parking Facilities. NOW, THEREFORE, BE IT RESOLVED in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows: 1. Exhibit A to the Pledge Agreement is amended to delete the WTC Ramp from Exhibit A. 2. Section 3.3.A(3? of the Pledge Agreement is amended to read as follows: "(3} to the Repair and Replacement Account created within the Parking and Transit Fund pursuant to Section 3.4 hereof (i) at Bond Closing, the sum of $662,430 (the °Beginning Balance"; (ii} on Sanuary 15, 1996, Net Revenues in the amount of $2�0,000; (iii) on January 15, 1997, Net Revenues in the amount of $180,800; and (iv) on January 15 in each of the years 199& through 2017, Net Revenues in the amount of $186,000. The amounts to be transferred to the Repair and Replacement Account pursuant to clauses (ii), tiii) and (iv) hereof are hereinafter referred to as the Replacement Reserve Requirement. The City shall transfer to the Repair and Replacement Account, in addition to the foregoing, such additional Net Revenues as may be required ta pay a11 repair and replacement costs contemplated by the budget for a Fiscal Year, to the extent the amounts on deposit in the Repair and Replacement i�ccount are insufficient.'� 3. Except as amended by this First Amendment to Pledge Agreement, all remaining terms and provisions of the Pledge 338Ld4.2 ° l'1-3y`1 Agreement as originally executed shall remain in full force and effect. 335404.2 2 °I� -�y`1 IN WITNESS WHEREOF, the City and the HRA First Amendment to Pledge Agreement to ba dul duly authorized officers as of the date first Approved as to form: Assistant ity t orney have caused this y executed by their written above. HOUSING AND RfiDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA By Its Chair By Its Secretary By Its ExeCUtive Director By Director, Department of Finance and Management Services of the City of Saint Paul 338404.2 3 a�-ayn CITY OF SAII3T PAT3L • .. . -. . . ` � �� / ii , + ��Il�� .- . ' '. . - � ts Mayor Sy Its Clerk By Its Director, Department of Planning and Economic Development By Director, Department of Finance and Management Services Signature page to First Amendment to Pledge Agreement by and between the City of Saint Paul and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota. 338404.2 . 4 a�-ay`l CONSENT TO FIRST AMENDMENT TO PLEDGE AGREEMENT Pursuant to Article VII of that certain Standby Bond Purchase Agreement between the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, and First Bank National Association dated June 1, 1995 relating to $7,500,000 Housing and Redevelopment Authority of the City of Saint Paul, Minnesota Variable Rate Demand Parking Revenue Bonds Series 1995B. The undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FIRST BANK NATIONAL ASSOCIATION � 338404.2 q�-ay� CONSENT TO FIRST AMENDMENT TO PLfiDGE AGREEMENT Pursuant to Section 8-8 of the First Supplemental Bond Resolution Authorizing the issuance of Parking Revenue Refunding Bonds, Series 1995A and Section 8-8 of the Second Supplemental Bond Resolution Authorizing the Issuance of Variable Rate Demand Parking Revenue Bonds, Series 1995B, the undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FINANCIAL SECURITY ASSURANCE OF MARYLAND, INC. formerly known as CAPITAL GUARANTY INSURFiNCE COMPANY � 338404.2 . Presented By Referred To 1 2 3 4 5 6 7 8 s io �� t2 13 14 '15 �s �� is 19 20 2t � 23 24 2s 2s 27 2s 29 30 31 32 33 34 35 36 37 38 [ Council File # l � � aZ � � � � k � ? ' � i �i k�, � _� , ; ��., r=� � Green Sheet # �� iOLUT10N I' PAUL, MINNESOTA Committee: Date RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A FII2ST AMENDMENT TO PLEDGE AGREEMENT WHEREAS, � 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") proposes to issue its Taxable Parking Revenue Bonds, Series 1997A in the approximate principal amount of $13,000,000 (the "Series 1997A Bonds") pursuant to the Indenture of Trust dated as of March 1, 1997 by and between the Authority and First Trust National Association, in St. Paul, Minnesota (the "Trustee") to finance an ea�pansion of an existing municipal parking ramp commonly referred to as the Seventh Street Ramp (the "Seventh Street Ramp") and certain public redevelopment costs related to the Downtown Redevelopment Project area (collectively, the "Project"). 2. The Series 1997A Bonds aze to be secured by, among other things, the net revenues derived from the parldng ramp commonly known as the Seventh Street Ramp (the "Seventh Street Ramp"}. 3. The C`ity and the Authority have heretofore entered into a Pledge Agreement dated as of June 1, 1995 (the "Prior Pledge Agreement") pursuant to which net revenues of various parking ramps and lots, including the Seventh Street Ramp, were pledged to the payment of the Authority's Variable Rate Demand Parking Revenue Bonds, Series 1445 and its Parking Revenue Refunding Bonds, Series 1945 (the "Prior Bonds"). 4. In order to facilitate the issuance of the Series 1997A Bonds, it is necessary to amend the Prior Pledge Agreement to delete the Seventh Street Ramp from the definition of Parl�ng Facilities subject to the Prior Pledge Agreement. 5. A form of the First Amendment to Pledge P�greement (the "First Amendment to Pledge Agreement") has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of the same. 340432.2 t 2 3 4 s s 7 a s io i� 12 13 ia is 16 �� a �s � 2i � 23 24 25 26 27 2s 2s RESOLVED: q�-a�t� 1. The City Council hereby approves the First Amendment to Pledge Agreement and authorizes the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services to execute the First Amendment to Pledge Agreement in substanfially the form submitted. Any other documents, agreements and certificates necessary to reflect the amendment of the Pledge Agreement shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fuznish certified copies of all proceedings and records of the City relating to the transaction described above, and such other affidavits and legality of the First Amendment to Pledge Agreement as such facts appear from the books and records in the officers' custody and control of as otherwise I�own to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of al statements contained therein. 3. The approval hereby given to the First Amendment to Pledge Agreement includes approval of such additional details therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary and appropriate and be approved by the City's staff, City Attorney and Bond Counsel prior to their execution; said staf� C`ity Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereo£ In the absence of the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. Requested by Department of: Adoption Cert'rfied by Council Secretary By: � � PLANNING AND ECONOAffC DEVELOPMII�'P Rv /��A.s.eL/�z(//�' , � • '�.;�� • r• y � � a� � y~ C� ;.�i_�/�L pproved� ayor for Submission to Council y � � Adopted by Cou�cil: Date � � � �\Ztry 9� -ay� �� p DATE I ITIATED v i c v v /.��(/� / GREEN S P EFiSON & PHONE � Z` INtTI MRIAUDAiE [/p � � �EPARTMEf3i DIflECiOR C(TY COUNGL �� '`�" 6-66y3 N flFON �C�AT'fORNEY CRYCLERK MUS7 8E ON CAUNCIL AGENDA BY (�ATE qp�p� BUOGET DIRE � FW. & MCaL SERVICES DIR. 7 � ONDEfl � y�AYOfl (ORASSISTANT) ❑ c� TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS POR SIGNATURE) ACT N REQUESTEO: � C � 7 , r /J y �ly�f �, �-� � � �.-t-� � Lu�a--.� �� RECOMMENDAiIONS: Approve (A) or qeject (fl) PERSONAL SERVICE CONTRACTS MUS7 ANSWER THE FOLLOWING QUESTIONS: _ PLqNNING COMMISSION _ CIVIL SERVICE COMMISSION �� H85 this person/firm eVer Wofketl untler a COntraCt for this dep3rtment? • _ CIB COMMITTEE _ VES NO 2. Has this personfirm ever been a ciry employee? __ STAFF — yE$ NO _ oISiAIC7 CouBi — 3. Does Nis persoMfirtn possess a skill not normally possessed by any currert city employee? SUPPoRTS WHICH COUNCIL OBJECfIVE? YES � NO Explain all yes answels on separate sheet and attach to green sheet 1NIT1qTING PRpBLEM, ISSUE, OPPORTUNIN (WFw. Wnat, Whan, Where. W g /�� >< � D � . � � Ti�( .��iL�ti� � ✓✓— '�i6�v�+✓�- �V`.'6n1r.r�-_. � l �L�.f/[..Pf // � 7' -� �z�,� �'-z �%'�- �'°��'✓ �� ,Gu�O, � 1faC/f � �r�� -�e�G� ��`�"3 AOVANTAGES IF APPflOVED: 7`4 �'C%�� f � ��-,--� �� - �� r � R ��iV�`� OISADVANTAGES IF APPROVED'. ��-e �a�o�� p�� (.'�� £s �� 997 Council Research Center �� _.:?. ,. ; ��'c7 ��I OISADVANTAGES IF NOTAPPRoVEO� � ./f � G / � � � ,/ �.�--a -�-e� /�` J �"� �Z-�,�- ��r� � � r ,_ . _ _ (i . _„ p��,�-� TOTAL AMOUNT OF TRANSACTION S �� COST/REVENUE BUDGETEO (qRCLE ON� YES NO FUNDIqG SOURCE ACTIVI7Y NUMBER FINANCIAL INFORhiATION (EXPLAIN) a�•l4'1 FSRST AMENDMENT TO PLEDGE AGREEMENT THIS FIRST AMENDMENT TO PLEDGE AGREEMENT is daCed as of this lst day of January, 1997, by and between the City of Saint Pau7., Minnesota (the "City��) and the Housing and Redevelopment Authority of the City of Saint Pau1, Minnesota (the "HRA��). WHEREAS, the City and the HRA have heretofore entered into that certain Pledge Agreement dated as of June 1, 1945, relating to the pledge of certain revenues derived from certain Parking Facilities (as defined in the Pledge Agreement? to the HRA�s Parking Revenue Refunding Bonds, Series 1995A, its Variable Rate Demand Parking Revenue Bonds, Series 1995B, and Exhibit Hall Parking Ramp Subordinated Revenue Note, Series 1995 (the "Secured Obligations"). WHEREAS, the City and the HRA desire to amend the Pledge Agreement to delete the parking ramp commonly known as the World Trade Center Ramp (the "WTC Ramp") located at the intersection of North Wabasha Street and East Seventh Street, from the definition of Parking Facilities. NOW, THEREFORE, BE IT RESOLVED in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows: 1. Exhibit A to the Pledge Agreement is amended to delete the WTC Ramp from Exhibit A. 2. Section 3.3.A(3? of the Pledge Agreement is amended to read as follows: "(3} to the Repair and Replacement Account created within the Parking and Transit Fund pursuant to Section 3.4 hereof (i) at Bond Closing, the sum of $662,430 (the °Beginning Balance"; (ii} on Sanuary 15, 1996, Net Revenues in the amount of $2�0,000; (iii) on January 15, 1997, Net Revenues in the amount of $180,800; and (iv) on January 15 in each of the years 199& through 2017, Net Revenues in the amount of $186,000. The amounts to be transferred to the Repair and Replacement Account pursuant to clauses (ii), tiii) and (iv) hereof are hereinafter referred to as the Replacement Reserve Requirement. The City shall transfer to the Repair and Replacement Account, in addition to the foregoing, such additional Net Revenues as may be required ta pay a11 repair and replacement costs contemplated by the budget for a Fiscal Year, to the extent the amounts on deposit in the Repair and Replacement i�ccount are insufficient.'� 3. Except as amended by this First Amendment to Pledge Agreement, all remaining terms and provisions of the Pledge 338Ld4.2 ° l'1-3y`1 Agreement as originally executed shall remain in full force and effect. 335404.2 2 °I� -�y`1 IN WITNESS WHEREOF, the City and the HRA First Amendment to Pledge Agreement to ba dul duly authorized officers as of the date first Approved as to form: Assistant ity t orney have caused this y executed by their written above. HOUSING AND RfiDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA By Its Chair By Its Secretary By Its ExeCUtive Director By Director, Department of Finance and Management Services of the City of Saint Paul 338404.2 3 a�-ayn CITY OF SAII3T PAT3L • .. . -. . . ` � �� / ii , + ��Il�� .- . ' '. . - � ts Mayor Sy Its Clerk By Its Director, Department of Planning and Economic Development By Director, Department of Finance and Management Services Signature page to First Amendment to Pledge Agreement by and between the City of Saint Paul and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota. 338404.2 . 4 a�-ay`l CONSENT TO FIRST AMENDMENT TO PLEDGE AGREEMENT Pursuant to Article VII of that certain Standby Bond Purchase Agreement between the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, and First Bank National Association dated June 1, 1995 relating to $7,500,000 Housing and Redevelopment Authority of the City of Saint Paul, Minnesota Variable Rate Demand Parking Revenue Bonds Series 1995B. The undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FIRST BANK NATIONAL ASSOCIATION � 338404.2 q�-ay� CONSENT TO FIRST AMENDMENT TO PLfiDGE AGREEMENT Pursuant to Section 8-8 of the First Supplemental Bond Resolution Authorizing the issuance of Parking Revenue Refunding Bonds, Series 1995A and Section 8-8 of the Second Supplemental Bond Resolution Authorizing the Issuance of Variable Rate Demand Parking Revenue Bonds, Series 1995B, the undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FINANCIAL SECURITY ASSURANCE OF MARYLAND, INC. formerly known as CAPITAL GUARANTY INSURFiNCE COMPANY � 338404.2 . Presented By Referred To 1 2 3 4 5 6 7 8 s io �� t2 13 14 '15 �s �� is 19 20 2t � 23 24 2s 2s 27 2s 29 30 31 32 33 34 35 36 37 38 [ Council File # l � � aZ � � � � k � ? ' � i �i k�, � _� , ; ��., r=� � Green Sheet # �� iOLUT10N I' PAUL, MINNESOTA Committee: Date RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A FII2ST AMENDMENT TO PLEDGE AGREEMENT WHEREAS, � 1. The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") proposes to issue its Taxable Parking Revenue Bonds, Series 1997A in the approximate principal amount of $13,000,000 (the "Series 1997A Bonds") pursuant to the Indenture of Trust dated as of March 1, 1997 by and between the Authority and First Trust National Association, in St. Paul, Minnesota (the "Trustee") to finance an ea�pansion of an existing municipal parking ramp commonly referred to as the Seventh Street Ramp (the "Seventh Street Ramp") and certain public redevelopment costs related to the Downtown Redevelopment Project area (collectively, the "Project"). 2. The Series 1997A Bonds aze to be secured by, among other things, the net revenues derived from the parldng ramp commonly known as the Seventh Street Ramp (the "Seventh Street Ramp"}. 3. The C`ity and the Authority have heretofore entered into a Pledge Agreement dated as of June 1, 1995 (the "Prior Pledge Agreement") pursuant to which net revenues of various parking ramps and lots, including the Seventh Street Ramp, were pledged to the payment of the Authority's Variable Rate Demand Parking Revenue Bonds, Series 1445 and its Parking Revenue Refunding Bonds, Series 1945 (the "Prior Bonds"). 4. In order to facilitate the issuance of the Series 1997A Bonds, it is necessary to amend the Prior Pledge Agreement to delete the Seventh Street Ramp from the definition of Parl�ng Facilities subject to the Prior Pledge Agreement. 5. A form of the First Amendment to Pledge P�greement (the "First Amendment to Pledge Agreement") has been submitted to the City Council for approval and the Authority has requested that the City Council approve and authorize the execution of the same. 340432.2 t 2 3 4 s s 7 a s io i� 12 13 ia is 16 �� a �s � 2i � 23 24 25 26 27 2s 2s RESOLVED: q�-a�t� 1. The City Council hereby approves the First Amendment to Pledge Agreement and authorizes the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services to execute the First Amendment to Pledge Agreement in substanfially the form submitted. Any other documents, agreements and certificates necessary to reflect the amendment of the Pledge Agreement shall also be executed by the appropriate officers of the City. 2. The Mayor and Clerk and other officers of the City are authorized and directed to prepare and fuznish certified copies of all proceedings and records of the City relating to the transaction described above, and such other affidavits and legality of the First Amendment to Pledge Agreement as such facts appear from the books and records in the officers' custody and control of as otherwise I�own to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of al statements contained therein. 3. The approval hereby given to the First Amendment to Pledge Agreement includes approval of such additional details therein and such modifications thereof, deletions therefrom and additions thereto as may be deemed necessary and appropriate and be approved by the City's staff, City Attorney and Bond Counsel prior to their execution; said staf� C`ity Attorney and Bond Counsel are hereby authorized to approve said changes on behalf of the City. The officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereo£ In the absence of the Mayor, Director, Department of Planning and Economic Development and Director, Department of Finance and Management Services, any of the documents authorized by this resolution to be executed may be executed by any other appropriate officers. Requested by Department of: Adoption Cert'rfied by Council Secretary By: � � PLANNING AND ECONOAffC DEVELOPMII�'P Rv /��A.s.eL/�z(//�' , � • '�.;�� • r• y � � a� � y~ C� ;.�i_�/�L pproved� ayor for Submission to Council y � � Adopted by Cou�cil: Date � � � - � �ary 9� -ay� �� p DATE I ITIATED v i c v v /.��(/� / GREEN S P EFiSON & PHONE � Z` INtTI MRIAUDAiE [/p � � �EPARTMEf3i DIflECiOR C(TY COUNGL �� '`�" 6-66y3 N flFON �C�AT'fORNEY CRYCLERK MUS7 8E ON CAUNCIL AGENDA BY (�ATE qp�p� BUOGET DIRE � FW. & MCaL SERVICES DIR. 7 � ONDEfl � y�AYOfl (ORASSISTANT) ❑ c� TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS POR SIGNATURE) ACT N REQUESTEO: � C � 7 , r /J y �ly�f �, �-� � � �.-t-� � Lu�a--.� �� RECOMMENDAiIONS: Approve (A) or qeject (fl) PERSONAL SERVICE CONTRACTS MUS7 ANSWER THE FOLLOWING QUESTIONS: _ PLqNNING COMMISSION _ CIVIL SERVICE COMMISSION �� H85 this person/firm eVer Wofketl untler a COntraCt for this dep3rtment? • _ CIB COMMITTEE _ VES NO 2. Has this personfirm ever been a ciry employee? __ STAFF — yE$ NO _ oISiAIC7 CouBi — 3. Does Nis persoMfirtn possess a skill not normally possessed by any currert city employee? SUPPoRTS WHICH COUNCIL OBJECfIVE? YES � NO Explain all yes answels on separate sheet and attach to green sheet 1NIT1qTING PRpBLEM, ISSUE, OPPORTUNIN (WFw. Wnat, Whan, Where. W g /�� >< � D � . � � Ti�( .��iL�ti� � ✓✓— '�i6�v�+✓�- �V`.'6n1r.r�-_. � l �L�.f/[..Pf // � 7' -� �z�,� �'-z �%'�- �'°��'✓ �� ,Gu�O, � 1faC/f � �r�� -�e�G� ��`�"3 AOVANTAGES IF APPflOVED: 7`4 �'C%�� f � ��-,--� �� - �� r � R ��iV�`� OISADVANTAGES IF APPROVED'. ��-e �a�o�� p�� (.'�� £s �� 997 Council Research Center �� _.:?. ,. ; ��'c7 ��I OISADVANTAGES IF NOTAPPRoVEO� � ./f � G / � � � ,/ �.�--a -�-e� /�` J �"� �Z-�,�- ��r� � � r ,_ . _ _ (i . _„ p��,�-� TOTAL AMOUNT OF TRANSACTION S �� COST/REVENUE BUDGETEO (qRCLE ON� YES NO FUNDIqG SOURCE ACTIVI7Y NUMBER FINANCIAL INFORhiATION (EXPLAIN) a�•l4'1 FSRST AMENDMENT TO PLEDGE AGREEMENT THIS FIRST AMENDMENT TO PLEDGE AGREEMENT is daCed as of this lst day of January, 1997, by and between the City of Saint Pau7., Minnesota (the "City��) and the Housing and Redevelopment Authority of the City of Saint Pau1, Minnesota (the "HRA��). WHEREAS, the City and the HRA have heretofore entered into that certain Pledge Agreement dated as of June 1, 1945, relating to the pledge of certain revenues derived from certain Parking Facilities (as defined in the Pledge Agreement? to the HRA�s Parking Revenue Refunding Bonds, Series 1995A, its Variable Rate Demand Parking Revenue Bonds, Series 1995B, and Exhibit Hall Parking Ramp Subordinated Revenue Note, Series 1995 (the "Secured Obligations"). WHEREAS, the City and the HRA desire to amend the Pledge Agreement to delete the parking ramp commonly known as the World Trade Center Ramp (the "WTC Ramp") located at the intersection of North Wabasha Street and East Seventh Street, from the definition of Parking Facilities. NOW, THEREFORE, BE IT RESOLVED in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows: 1. Exhibit A to the Pledge Agreement is amended to delete the WTC Ramp from Exhibit A. 2. Section 3.3.A(3? of the Pledge Agreement is amended to read as follows: "(3} to the Repair and Replacement Account created within the Parking and Transit Fund pursuant to Section 3.4 hereof (i) at Bond Closing, the sum of $662,430 (the °Beginning Balance"; (ii} on Sanuary 15, 1996, Net Revenues in the amount of $2�0,000; (iii) on January 15, 1997, Net Revenues in the amount of $180,800; and (iv) on January 15 in each of the years 199& through 2017, Net Revenues in the amount of $186,000. The amounts to be transferred to the Repair and Replacement Account pursuant to clauses (ii), tiii) and (iv) hereof are hereinafter referred to as the Replacement Reserve Requirement. The City shall transfer to the Repair and Replacement Account, in addition to the foregoing, such additional Net Revenues as may be required ta pay a11 repair and replacement costs contemplated by the budget for a Fiscal Year, to the extent the amounts on deposit in the Repair and Replacement i�ccount are insufficient.'� 3. Except as amended by this First Amendment to Pledge Agreement, all remaining terms and provisions of the Pledge 338Ld4.2 ° l'1-3y`1 Agreement as originally executed shall remain in full force and effect. 335404.2 2 °I� -�y`1 IN WITNESS WHEREOF, the City and the HRA First Amendment to Pledge Agreement to ba dul duly authorized officers as of the date first Approved as to form: Assistant ity t orney have caused this y executed by their written above. HOUSING AND RfiDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA By Its Chair By Its Secretary By Its ExeCUtive Director By Director, Department of Finance and Management Services of the City of Saint Paul 338404.2 3 a�-ayn CITY OF SAII3T PAT3L • .. . -. . . ` � �� / ii , + ��Il�� .- . ' '. . - � ts Mayor Sy Its Clerk By Its Director, Department of Planning and Economic Development By Director, Department of Finance and Management Services Signature page to First Amendment to Pledge Agreement by and between the City of Saint Paul and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota. 338404.2 . 4 a�-ay`l CONSENT TO FIRST AMENDMENT TO PLEDGE AGREEMENT Pursuant to Article VII of that certain Standby Bond Purchase Agreement between the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, and First Bank National Association dated June 1, 1995 relating to $7,500,000 Housing and Redevelopment Authority of the City of Saint Paul, Minnesota Variable Rate Demand Parking Revenue Bonds Series 1995B. The undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FIRST BANK NATIONAL ASSOCIATION � 338404.2 q�-ay� CONSENT TO FIRST AMENDMENT TO PLfiDGE AGREEMENT Pursuant to Section 8-8 of the First Supplemental Bond Resolution Authorizing the issuance of Parking Revenue Refunding Bonds, Series 1995A and Section 8-8 of the Second Supplemental Bond Resolution Authorizing the Issuance of Variable Rate Demand Parking Revenue Bonds, Series 1995B, the undersigned hereby consents to the foregoing First Amendment to Pledge Agreement dated as of January 1, 1997. FINANCIAL SECURITY ASSURANCE OF MARYLAND, INC. formerly known as CAPITAL GUARANTY INSURFiNCE COMPANY � 338404.2