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Consenting to the sale of General Obligation Library Refunding Bonds, Series 2021D to be issued by the Saint Paul Public Library Agency for the refunding of prior bonds and levying a tax for the payment thereof.
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WHEREAS, the Saint Paul Public Library Agency (the “Library Agency”) has been granted the responsibility for all libraries and library operations within the City of Saint Paul, Minnesota (the “City”) pursuant to a special law enacted by the Minnesota Legislature in 2002 (Laws of Minnesota 2002, Chapter 390, Section 36-38 (the “Library Act”); and
WHEREAS, the Board of Commissioners (the “Library Board”) of the Library Agency is the City Council of the City acting as the Library Board; and
WHEREAS, may issue general obligation bonds payable from the full faith and credit and taxing power of the City as authorized by the Library Act and Minnesota Statutes, Chapter 475, as amended (the “Municipal Debt Act” and together with the Library Act, the “Act”); and
WHEREAS, the Library Board of the Library Agency has heretofore determined that it is necessary and expedient to issue its General Obligation Library Refunding Bonds, Series 2021D (the “Series 2021D Bonds”), in order to secure funds to finance: (i) the current refunding of the Library Agency’s Taxable General Obligation Library Bonds (Recovery Zone Economic Development Bonds - Direct Pay), Series 2010H (the “Series 2010H Bonds”), in the original aggregate principal amount of $3,700,000 and outstanding in the principal amount of $3,700,000; and (ii) certain costs of issuance relating to the Series 2021D Bonds; and
WHEREAS, Baker Tilly Municipal Advisors, LLC (the “Municipal Advisor”) on behalf of the Library Agency solicited proposals for the purchase of the Series 2021D Bonds; and
WHEREAS, pursuant to Resolution No. 21-459 adopted by the Board of Commissioners of the Library Agency on April 7, 2021 (the “Library Agency Resolution”), the Library Agency established a pricing commi...
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