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File #: RES 18-342    Version: 1 Name: 2018 Preliminary Bond Sale Authorization
Type: Resolution Status: Passed
In control: City Council
Final action: 2/28/2018
Title: Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2018 budget of the City of Saint Paul; expressing the intent of the City of Saint Paul to reimburse itself from the proceeds of such tax-exempt bonds; and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.
Sponsors: Amy Brendmoen
Ward: Bond Sale
Attachments: 1. Exhibit A, 2. Master
Related files: RES PH 18-199, RES 18-1585, RES 18-635, RES 18-636, RES 18-637, RES PH 18-108, RES PH 18-196, AO 18-65, RES 18-2021, RES 18-2052
Title
Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2018 budget of the City of Saint Paul; expressing the intent of the City of Saint Paul to reimburse itself from the proceeds of such tax-exempt bonds; and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.

Body
WHEREAS, on December 13, 2017, the City Council (the “City Council”) of the City of Saint Paul, Minnesota (the “City”) approved the 2018 City Budget including the issuance of multiple series of general obligation and revenue indebtedness (collectively, the “Bonds”) in calendar year 2018 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 will be general obligations of the City payable from general ad valorem taxes and will (i) fund various capital improvement projects identified in the City’s adopted 2018 Capital Improvement Budget and Program, and (ii) 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 (i) fund certain sewer improvement and rehabilitation projects as set forth in the 2018 City Budget, and (ii) pay costs of issuance; and

WHEREAS, the Snelling-Midway district stormwater revenue notes identified on Exhibit A attached hereto will not be a general obligation of the City and will (i) fund a district stormwater project serving the Snelling-Midway redevelopment site and surrounding area, and (ii) pay costs of issuance; and

WHEREAS, the trash cart revenue notes identified on Exhibit A attached hereto will not be a general obligation of the City and will be payable from the City solid waste and recycling fees and will (i) fund the purchase and implementation of new tr...

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