Title
Amending the City's Capital Improvement Budget and Operating Budget to reflect the final sale details resulting from the issuance of the G.O. Capital Improvement Bonds, Series 2026B and the G.O. Street Reconstruction Bonds, Series 2026C.
Body
WHEREAS, on January 15th, 2026, the City Council adopted RES 26-46 preliminarily approving the 2026 Bond Sale, and on May 6th, 2026, adopted RES 26-103 and RES 26-111 awarding the sale of the bonds for the series 2026B and 2026C bonds which closed on May 28, 2026; and
WHEREAS, the spending and financing budgets need to be adjusted in the bond proceeds accounts to reflect the final results of the sale; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, certifies that there are unencumbered funds of $38,684,320 in the City’s capital budget that may be appropriated; NOW
THEREFORE, BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $38,684,320 is available for appropriation in the City Capital and Operating Budget, that said budget, as heretofore adopted by Council, is hereby further amended by the particulars as specified in the attached financial analysis.
Financial Analysis
See attachment.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee reviewed this request on August 10, 2026 and recommended approval.