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Granting preliminary approval to the issuance of certain General Obligation Bonds to acquire the Public Safety Facility from the Port Authority of the City of Saint Paul, and approving a Special Purpose Capital Improvements Plan with respect to the Public Safety Project.
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WHEREAS, the City of Saint Paul, Minnesota (the “City”) and the Port Authority of the City of Saint Paul, Minnesota (the “Port Authority”) previously entered into a Project Management Agreement, dated June 1, 2015 (the “Project Management Agreement”), whereby (a) the Port Authority agreed to develop and provide financing for the development, acquisition, construction, installation, and equipping of a new public safety training facility to be located at 600 Lafayette in the City (the “Public Safety Training Facility”) and for the demolition of the existing Public Safety Annex and stabilization of the Public Safety Annex site after demolition; and (b) the City agreed to purchase the Public Safety Training Facility; and
WHEREAS, the Project Management Agreement contains provisions under which the City may acquire the completed or partially completed Public Safety Training Facility; and
WHEREAS, the City wishes to issue up to $17,000,000 of General Obligation Public Safety Capital Improvement Plan Bonds (the “Public Safety Bonds”) pursuant to Minnesota Statutes, Section 475.521, as amended (the “CIP Act”) and Minnesota Statutes, Chapter 475, as amended, for the purpose of (i) the acquisition, installation, and equipping of the Public Safety Training Facility for use by the City’s police and fire departments, (ii) the construction of a new police communication services and maintenance garage (the “Public Safety Radio Facility”), (iii) the construction and equipping of an administrative facility for the police department (collectively the capital projected identified in (i) through (iii) are referred to as the “Public Safety Project”), and (iv) pay costs of issuance of the Public Sa...
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