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File #: RES 16-2030    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 11/16/2016
Title: Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2016F; fixing the form and specifications of the Series 2016F Bonds; providing for the issuance of the Series 2016F Bonds; and levying a tax for the payment of the Series 2016F Bonds
Sponsors: Russ Stark
Ward: Bond Sale
Attachments: 1. StP 2016F Street Ref Exhibit A, 2. StP 2016F Street Ref Exhibit B, 3. StP 2016F Street Ref Exhibit C, 4. StP 2016F Street Ref Exhibit D, 5. StP 2016F Street Refunding Completion Form Amended, 6. StP 2016F Street Ref Exhibit A Amended, 7. StP 2016F Street Ref Exhibit B Amended, 8. StP 2016F Street Ref Exhibit C Amended, 9. StP 2016F Street Ref Exhibit D Amended
Related files: RES 16-231, RES PH 18-196
Title
Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2016F; fixing the form and specifications of the Series 2016F Bonds; providing for the issuance of the Series 2016F Bonds; and levying a tax for the payment of the Series 2016F Bonds

Body
WHEREAS, the Director, Office of Financial Services, has presented to the Council proposals received for the sale of General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2016F (the “Series 2016F Bonds”), of the City of Saint Paul, Minnesota (the “City”); and

WHEREAS, the proposals set forth on EXHIBIT C attached hereto were received pursuant to the Terms of Proposal at the offices of Springsted Incorporated, Financial 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 2016F Bonds by adopting RES 16-231 on February 10, 2016; and

WHEREAS, the City will issue the Series 2016F Bonds pursuant to the Charter of the City (the “City Charter”) and Minnesota Statutes, Chapter 475, as amended (the “Municipal Debt Act” or “Act”); and

WHEREAS, on March 5, 2008, the City previously issued its General Obligation Street Improvement Special Assessment Bonds, Series 2008B (the “Series 2008B Bonds”) in the original aggregate principal amount of $11,545,000 in order to fund (i) certain street improvement projects within the City (the “2008 Street Projects”) as identified in City resolution Council File #08-136, (the “Series 2008B Bond Resolution”) adopted on February 13, 2008; and (ii) certain related financing costs of the Series 2008B Bonds; and

WHEREAS, the November 1, 2018 through May 1, 2028 maturit...

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