title
Providing for the issuance of and accepting a proposal on the sale of General Obligation Public Safety Refunding Bonds, Series 2019E; fixing the form and specifications of the Series 2019E Bonds; providing for the issuance of the Series 2019E Bonds; and levying a tax for the payment of the Series 2019E Bonds
body
WHEREAS, the City Treasurer of the Office of Financial Services, has presented to the Council proposals received for the sale of General Obligation Public Safety Refunding Bonds, Series 2019E (the “Series 2019E Bonds”), of the City of Saint Paul, Minnesota (the “City”); 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”) 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 2019E Bonds by adopting RES 19-167 on February 14, 2019; and
WHEREAS, the City will issue the Series 2019E Bonds pursuant to the Charter of the City (the “City Charter”) and Minnesota Statutes, Chapter 475 (including Sections 475.521 and 475.67), as amended (the “Municipal Debt Act” or “Act”); and
WHEREAS, on June 2, 2009, the City previously issued its Taxable General Obligation Public Safety Bonds, Series 2009E (Build America Bonds - Direct Payment to Issuer) (the “Series 2009E Bonds”), in the original aggregate principal amount of $9,275,000 in order to (i) finance a portion of the cost of a new fire station to replace fire stations #1 and #10 and house fire administration facilities (the “2009 Public Safety Project”) as identified in City Resolution 9-453 (the “Series 2009 Bond Resolution”) adopted on May 12, 2009; and (ii) certain rel...
Click here for full text