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Providing for the issuance of and accepting a proposal on the sale of Taxable General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2019I; fixing the form and specifications of the Series 2019I Bonds; providing for the issuance of the Series 2019I Bonds; and levying a tax for the payment of the Series 2019I Bonds.
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WHEREAS, the Interim Director, Office of Financial Services, has presented to the Council proposals received for the sale of Taxable General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2019I (the “Series 2019I 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 2019I 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 2019I 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 2019I Bonds by adopting Resolution 19-167 on February 6, 2019; and
WHEREAS, on April 4, 2011, the City previously issued its General Obligation Street Improvement Special Assessment Bonds, Series 2011B (the “Series 2011B Bonds”) in the original aggregate principal amount of $12,500,000 in order to fund (i) various street improvement projects within the City (the “2011 Street Projects”); and (ii) certain costs of issuance relating to the issuance of the Series 2011B Bonds; and
WHEREAS, the November 1, 2021 through May 1, 2031 maturities of the Series 201...
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