Title
Amending the City's Operating Budget to reflect the final sale details resulting from the issuance of Judgment Bonds, Series 2026A, judgment payment and transfer of proceeds from a special revenue fund.
Body
WHEREAS, on April 6th, 2026, the City Council adopted RES PH 26-91 awarding the sale of the judgment bonds for the series 2026A which closed on April 21, 2026; and
WHEREAS, the spending and financing budgets need to be adjusted in the debt service fund accounts to reflect the final results of the sale, to make the judgment payment from the general fund and to transfer proceeds from the special revenue fund; 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 $9,595,363 in the City’s operating 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 $9,595,363 is available for appropriation in the City 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.