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Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Reconstruction Bonds, Series 2025B; and levying a tax for the payment of the Series 2025B Bonds.
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Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Reconstruction and Refunding Bonds, Series 2025B; and levying a tax for the payment of the Series 2025B Bonds
WHEREAS, the Interim Director, of the City of Saint Paul, Minnesota’s (the “City”) Office of Financial Services, has presented to the Council proposals received for the sale of General Obligation Street Reconstruction and Refunding Bonds, Series 2025B (the “Series 2025B Bonds”); and
WHEREAS, the proposals set forth on EXHIBIT C attached hereto were received pursuant to the Terms of Proposal at the offices of Baker Tilly Municipal Advisors, LLC (“Baker Tilly MA”), Municipal Advisor to the City, on the date hereof; and
WHEREAS, the Interim Director, Office of Financial Services, has advised this Council that the proposal of the Purchaser (as defined herein) was found to be the most advantageous and has recommended that said proposal be accepted; and
WHEREAS, the City Council gave its preliminary approval to the issuance of the Series 2025B Bonds by adopting RES 25-28 on January 15, 2025; and
WHEREAS, the City will issue the Series 2025B Bonds pursuant to the Charter of the City (the “City Charter”) and Minnesota Statutes, Chapter 475, as amended (the “Municipal Debt Act” or “Act”), including specifically Section 475.58 Subd. 3b; and
WHEREAS, on December 6, 2023, the Council held a public hearing (the “2024 Public Hearing”) with respect to the City’s Five-Year Street Reconstruction Plan for the Fiscal Years 2024 through 2028 (the “2024 SRP”) and after the Public Hearing by a 6-0 vote adopted RES PH 23-354 approving the 2024 SRP; and
WHEREAS, on December 11, 2024, the Council held a public hearing (the “2025 Public Hearing”) with respect to t...
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