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File #: RES 21-356    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 3/24/2021
Title: Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Reconstruction and Refunding Bonds, Series 2021C, and levying a tax for the payment of the Series 2021C Bonds.
Sponsors: Amy Brendmoen
Ward: Bond Sale
Attachments: 1. RES 21-356 Exhibit A_Final, 2. RES 21-356 Exhibit B_Final, 3. RES 21-356 Exhibit C_Final, 4. RES 21-356 Exhibit D_Final
Related files: RES 21-119, RES PH 21-70
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Providing for the issuance of and accepting a proposal on the sale of General Obligation Street Reconstruction and Refunding Bonds, Series 2021C, and levying a tax for the payment of the Series 2021C Bonds.
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WHEREAS, the Director, Office of Financial Services, has presented to the Council proposals received for the sale of General Obligation Street Reconstruction and Refunding Bonds, Series 2021C (the “Series 2021C 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 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 2021C Bonds by adopting RES 21-119 on January 26, 2021; and

WHEREAS, the City will issue the Series 2021C 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 1, 2013, the City previously issued its General Obligation Street Improvement Special Assessment Bonds, Series 2013C (the “Series 2013C Bonds”) in the original aggregate principal amount of $11,800,000 in order to (i) provide financing for various street improvement projects in the City (the “2013 Street Projects”), and (ii) pay certain costs of issuance relating to the Series 2013C Bonds; and

WHEREAS, the Series 2013C Bonds are callable for redemption by the City on May 1, 2021 and the City currently intends to redeem the Series 2013C Bonds on or after May 1, 2021 (the “Series 2013C Redemption Date”) at a price of par plus accrued interest to the date of red...

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