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File #: RES 21-1173    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 8/18/2021
Title: Supplemental Resolution #21-1173 Supplementing the General Resolution (CF 88-835) Relating to Sewer Revenue Bonds and providing for the issuance of Sewer Revenue and Refunding Bonds, Series 2021F (Green Bonds) and taking other required actions.
Sponsors: Amy Brendmoen
Ward: Bond Sale
Attachments: 1. City Council Packet Series 2021F, 2. Exhibit A - Revised, 3. Exhibit B - Revised, 4. Exhibit C - Revised
Related files: RES 21-119, RES PH 21-237
Title
Supplemental Resolution #21-1173 Supplementing the General Resolution (CF 88-835) Relating to Sewer Revenue Bonds and providing for the issuance of Sewer Revenue and Refunding Bonds, Series 2021F (Green Bonds) and taking other required actions.

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WHEREAS, the City Treasurer of the Office of Financial Services, has presented proposals received for the sale of Sewer Revenue and Refunding Bonds, Series 2021F (Green Bonds) (the “Series 2021F Bonds” or individually a “Series 2021F Bond”), of the City of Saint Paul, Minnesota (the “City”); and

WHEREAS, the proposals for the purchase of the Series 2021F Bonds 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”), as 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 by the City; and

WHEREAS, the City Council gave its preliminary approval to the issuance of the Series 2021F Bonds by adopting RES 21-119 on March 30, 2021; and

WHEREAS, on May 24, 1988, the City Council of the City adopted Resolution No. 88-835, entitled “General Resolution Relating to Sewer Revenue Bonds” (the “General Resolution”); and

WHEREAS, the proceeds derived from the sale of the Series 2021F Bonds will be used, along with funds held by the City in the debt service accounts and the debt service reserve accounts for the Refunded Bonds (as defined below), by the City to (i) finance capital improvements to the City’s Sewer System, (ii) refund on a current basis the City’s outstanding Sewer Revenue Bonds, Series 2011C (the “Series 2011C Bonds”) issued in the original aggregate principal amount of $8,900,000, maturing December 1, 2022 through December 1, 2029, (iii) refund on a current basis the City’s outstandin...

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