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File #: RES 20-264    Version: 1 Name:
Type: Resolution Status: Passed
In control: City Council
Final action: 2/12/2020
Title: Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2020B; and levying a tax for the payment of the Series 2020B Bonds.
Sponsors: Amy Brendmoen
Ward: Bond Sale
Attachments: 1. Exhibit A Final, 2. Exhibit B Final, 3. Exhibit C Final, 4. Exhibit D Final
Related files: RES 20-262, RES PH 19-388, RES 20-62, RES PH 20-58, RES 20-265, RES 20-266
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Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Improvement Special Assessment Refunding Bonds, Series 2020B; and levying a tax for the payment of the Series 2020B 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 Street Improvement Special Assessment Refunding Bonds, Series 2020B (the “Series 2020B 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 Purchaser (as defined herein) was found to be the most advantageous and has recommended that said proposal be accepted; and

WHEREAS, the City Council gave its preliminary approval to the issuance of the Series 2020B Bonds by adopting RES 20-62 on January 15, 2020; and

WHEREAS, the City will issue the Series 2020B 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, on April 2, 2012, the City previously issued its General Obligation Street Improvement Special Assessment Bonds, Series 2012B (the “Series 2012B Bonds”) in the original aggregate principal amount of $9,290,000 in order to fund (i) certain street improvement projects within the City (the “2012 Street Projects”) as identified in City Resolution 12-542 (the “Series 2012B Bond Resolution”) adopted on March 21, 2012; and (ii) certain costs of issuance relating to the Series 2012B Bonds; and

WHEREAS, the Series 2012B Bonds are callable for redemption by the City on the first business day of each month and the City currently intends t...

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