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File #: RES 14-215    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 2/5/2014
Title: Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2014 budget, and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.
Sponsors: Kathy Lantry
Ward: Bond Sale
Attachments: 1. Exhibit A, 2. 2014 Adopted $11M CIB Projects & $12.5M Streets
Related files: Ord 14-8, RES 14-214, RES 14-612, RES 14-620, RES 14-618, RES 14-1108
Title
Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2014 budget, and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.

Body
WHEREAS, on December 11, 2013 the City Council (the "City Council") of the City of Saint Paul, Minnesota (the "City") approved the 2014 City Budget including the issuance of multiple series of general obligation and revenue bonds (collectively, the "Bonds") in 2014 as described below and on Exhibit A attached hereto and made a part hereof; and

WHEREAS, the general obligation capital improvement bonds identified on Exhibit A attached hereto in order to (i) refund on a current basis if sufficient debt service savings will be obtained the City's (a) General Obligation Capital Improvement Bonds, Series 2005A, and (b) General Obligation Capital Improvement Bonds, Series 2006A, (ii) fund various capital improvement projects identified in the City's approved Capital Improvement Budget for the years 2014 through 2018, and (iii) pay costs of issuance; and

WHEREAS, the sewer revenue bonds identified on Exhibit A attached hereto will be special, limited obligations of the City payable solely from the City's sewer enterprise fund and the sewer bonds will fund certain sewer improvement and rehabilitation projects as set forth in the 2014 City Budget; and

WHEREAS, the general obligation RSVP street improvement bonds identified on Exhibit A attached hereto in order to (i) refund on a current or an advance basis, as applicable, if sufficient debt service savings will be obtained the City's (a) General Obligation Street Improvement Special Assessment Bonds, Series 2004B, (b) General Obligation Street Improvement Special Assessment Bonds, Series 2005B, (c) General Obligation Street Improvement Special Assessment Bonds, Series 2006B, and (d) General Obligation Street Improvement Special Assessment Bonds, Series 2007D, (ii) fund...

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