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File #: RES 19-966    Version: Name: Approving the preliminary 2020 capital investment bonding priorities.
Type: Resolution Status: Passed
In control: City Council
Final action: 6/12/2019
Title: Approving the preliminary 2020 capital investment bonding priorities.
Sponsors: Amy Brendmoen

Title

Approving the preliminary 2020 capital investment bonding priorities.

Body

WHEREAS, the City of Saint Paul recognizes that all state G.O. bonds have certain common requirements. They must be for a public purpose, authorized in the constitution, specified in law, and mature in not more than 20 years; and

WHEREAS, the City of Saint Paul understands that the principal purpose for which state G.O. bonds are issued is to acquire and better public land and buildings and to make other public capital improvements; and

WHEREAS, the City of Saint Paul understands that a capital project, in general, is to acquire or improve fixed assets, such as land or buildings; and

WHEREAS, the City of Saint Paul understands that bonds issued under the capital improvements provision may only be for publicly owned projects, whether state or local; and

WHEREAS, the City of Saint Paul requests support from the Minnesota State Legislature to fund capital projects to improve the city’s infrastructure and economic development needs;  now

THEREFORE BE IT RESOLVED, the City of Saint Paul will submit a list of capital investments priorities to the Minnesota Office of Management and Budget prior to or on June 14, 2019 in accordance with the 2020 Capital Budget Instructions for Local Units of Government.

City Bonding Priorities:

1.                     Third Street Kellogg Boulevard Bridge - $55 million

2.                     Eastbound Kellogg Boulevard Bridge at RiverCentre - $10 million

3.                     River Learning Center - $3 million

4.                     Como Zoo Planning for Orangutan Habitat and Energy Efficiency and Asset Preservation - $2.5 million

 

 

 

 

 

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