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Providing for the issuance of and accepting a proposal on the sale of General Obligation Refunding Bonds, Series 2019H; fixing the form and specifications of the Series 2019H Bonds; providing for the issuance of the Series 2019H Bonds; and levying a tax for the payment of the Series 2019H Bonds
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WHEREAS, the Interim Director, Office of Financial Services, has presented to the Council proposals received for the sale of General Obligation Refunding Bonds, Series 2019H (the “Series 2019H 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 Baker Tilly Municipal Advisors, LLC (“Baker Tilly MA”), municipal advisor to the City, on the date hereof; and
WHEREAS, the Interim Director, Office of Financial Services, has advised this Council that the proposal of the Series 2019H Purchaser (as defined herein) was found to be the most advantageous and has recommended that said proposal be accepted; and
WHEREAS, the City will issue the Series 2019H 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, the City Council gave its preliminary approval to the issuance of the Series 2019H Bonds by adopting Resolution 19-167 on February 6, 2019; and
WHEREAS, on July 27, 2017, the City previously issued its General Obligation Variable Rate Street Improvement Special Assessment Bonds, Series 2017D (the “Series 2017D Bonds”) in the original aggregate principal amount of $11,575,000 in order to fund (i) certain street improvement and rehabilitation projects for 2017 as set forth in the 2017 Capital Improvements Budget (the “2017 Street Projects”) as identified in City Resolution 17-1088 (the “Series 2017D Resolution”), adopted on July 19, 2017; and (ii) certain related financing costs of the Series 2017D Bonds; and
WHEREAS, the ...
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