Title
Awarding the sale of General Obligation Tax Increment Refunding Bonds, Series 2018C; fixing the form and terms of the Series 2018C Bonds and directing their execution and delivery; and pledging Tax Increments and certain Parking Revenues for the payment thereof.
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WHEREAS, the City Council of the City of Saint Paul, Minnesota (the “City”) has heretofore determined that it was necessary and expedient to provide money to establish a redevelopment project in the City (the “Project”) located within the area of the City bounded by Wabasha and St. Peter Streets and Fifth and Sixth Streets (“Block 39”); and
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) established the Block 39 Renewal and Renovation Tax Increment Financing District, being a tax increment financing district established as a renewal and renovation district under Minnesota Statutes, Section 469.174 to 469.179, as amended (the “Tax Increment Act”) pursuant to the Tax Increment Act and a resolution adopted by the HRA on May 28, 1997, and approved by the City on May 28, 1997; and
WHEREAS, the HRA converted the Block 39 Renewal and Renovation Tax Increment Financing District to the Block 39/Arena Redevelopment Tax Increment Financing District (the “Block 39 TIF District”) being a redevelopment district as defined in Section 469.174, subdivision 10, of the Tax Increment Act, and a resolution adopted by the HRA on September 24, 1997, and approved by the City on September 24, 1997, tax increment revenues from which (the “Tax Increments”) were pledged to the payment of the Prior Bonds (as defined herein) and are pledged to the Bonds (as defined herein); and
WHEREAS, the Block 39 TIF District was officially certified in 1999; and
WHEREAS, the HRA established its Seventh Place Redevelopment Project as from time to time amended, and has by HRA resolution adopted September 24, 1997, expanded the boundaries of the Project which ...
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