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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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