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Authorizing the issuance of and awarding the sale of General Obligation Street Reconstruction Bonds, Series 2026C; and levying a tax for the payment of the Series 2026C Bonds.
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WHEREAS, the 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 Bonds, Series 2026C (the “Series 2026C 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 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 2026C Bonds by adopting RES 26-46 on January 20, 2026; and
WHEREAS, the City will issue the Series 2026C 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 11, 2024, the Council held a public hearing (the “2025 Public Hearing”) with respect to the City’s Five-Year Street Reconstruction Plan for the Fiscal Years 2025 through 2029 (the “2025 SRP”) and after the Public Hearing by a 5 to 1 vote (one absent) adopted RES PH 24-291 approving the 2025 SRP; and
WHEREAS, on December 3, 2025, the Council held a public hearing (the “2026 Public Hearing”) with respect to the City’s Five-Year Street Reconstruction Plan for the Fiscal Years 2026 through 2030 (the “2026 SRP”) and after the Public Hearing by a 6 to 0 vote adopted RES PH 25-264 approving the 2026 SRP; and
WHEREAS, pursuant to its City Charter...
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