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File #: RES PH 19-392    Version: 1
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 12/4/2019
Title: Amending the City's Capital Improvement Budget and Operating Budget to reflect the final sale details resulting from the issuance of the G.O. Refunding Bonds, Series 2019H, and the Taxable G.O. Street Improvement Special Assessment Refunding Bonds, Series 2019I.
Sponsors: Amy Brendmoen
Ward: Bond Sale, Budget
Attachments: 1. Financial Analysis RES PH 19-392
Related files: RES 19-1967, RES 19-1889, RES 19-167, RES PH 20-58

Title

Amending the City's Capital Improvement Budget and Operating Budget to reflect the final sale details resulting from the issuance of the G.O. Refunding Bonds, Series 2019H, and the Taxable G.O. Street Improvement Special Assessment Refunding Bonds, Series 2019I.

 

Body

WHEREAS, on February 6, 2019, the City Council adopted RES 19-167 preliminarily approving the 2019 Refunding Bond Sale and on November 13, 2019, adopted RES 19-1889 and RES 19-1967 awarding the sale of the bonds which will close on December 11, 2019; and

 

WHEREAS, the spending and financing budgets need to be adjusted in the bond proceeds accounts and the City’s debt fund to reflect the final results of the sale; and

 

WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, certifies that there are unencumbered funds of $44,325,668 in the City’s capital and operating budget that may be appropriated; NOW

 

THEREFORE, BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $44,325,668 is available for appropriation in the City Capital and Operating Budget, that said budget, as heretofore adopted by Council, is hereby further amended by the particulars as specified in the attached financial analysis.

 

Financial Analysis

See Attachment

 

 

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