Title
Awarding the sale of General Obligation Capital Improvement Bonds, Series 2012A in order to finance certain capital improvements; fixing the form and specifications of the Series 2012A bonds; directing the execution and delivery of the Series 2012A bonds; and providing for the payment of and levying a tax for the Series 2012A bonds.
Body
WHEREAS, the City of Saint Paul, Minnesota, a home rule charter city and a political subdivision of the State of Minnesota (the “City”), is authorized by Laws of Minnesota for 1971, Chapter 773, as amended (the “Act”), and the provisions of Minnesota Statutes, Chapter 475, as amended (the “Municipal Debt Act”), to issue capital notes, bonds or certificates of indebtedness in order to finance capital improvements in the City if such capital improvements are made in accordance with the requirements of the City Charter; and
WHEREAS, the City is proposing to issue its General Obligation Capital Improvement Bonds, Series 2012A (the “Series 2012A Bonds”), pursuant to the terms of the Act and the Municipal Debt Act; and
WHEREAS, the proceeds of the Series 2012A Bonds will finance the acquisition, construction and repair of various capital improvements in the City as identified in its duly adopted Capital Improvement Budget (the “Projects”) of the City; and
WHEREAS, upon recommendation of the Mayor and the advice of the Long Range Capital Improvement Budget Committee, CF 11-2437 provided that $37,396,048 is available for appropriation in the 2012 Capital Improvement Budget, heretofore adopted and amended by this Council; and
WHEREAS, the City Council gave its preliminary approval to the issuance of the Series 2012A Bonds by adopting CF No. 12-51 on January 11, 2012; and
WHEREAS, Springsted Incorporated, as financial advisor to the City, solicited proposals for the purchase of the Series 2012A Bonds pursuant to an Official Statement (the “Official Statement”) and the Terms of Proposal (the “Terms of Proposal”); and
WHERE...
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