Saint Paul logo
Share to Facebook Share to Twitter Bookmark and Share
File #: RES 22-56    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 2/2/2022
Title: Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2022 budget of the City of Saint Paul; expressing the intent of the City to reimburse itself from the proceeds of such tax-exempt bonds; and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.
Sponsors: Amy Brendmoen
Ward: Bond Sale
Attachments: 1. Exhibit A_Final
Related files: RES 22-186, RES PH 22-21, RES 22-662
title
Granting preliminary approval to the issuance of certain general obligation and revenue bonds as approved in the 2022 budget of the City of Saint Paul; expressing the intent of the City to reimburse itself from the proceeds of such tax-exempt bonds; and authorizing City finance staff and advisors to take certain actions with respect to the sale of such bonds.

body
WHEREAS, on December 8, 2021 the City Council (the “City Council”) of the City of Saint Paul, Minnesota (the “City”) approved the 2022 City Budget including the proposed issuance of multiple series of general obligation and revenue indebtedness (collectively, the “Bonds”) in calendar year 2022 as described below and on Exhibit A attached hereto and made a part hereof; and

WHEREAS, the general obligation capital improvement bonds identified on Exhibit A attached hereto will be general obligations of the City payable from general ad valorem taxes and will (i) fund various capital improvement projects identified in the City’s approved Capital Improvement Budget for the years 2022 through 2026, and (ii) pay costs of issuance; and

WHEREAS, the sewer revenue bonds identified on Exhibit A attached hereto will be special, limited obligations of the City payable solely from the City’s sewer enterprise fund and the sewer bonds will (i) fund certain sewer improvement and rehabilitation projects as set forth in the 2022 City Budget, and (ii) pay costs of issuance; and

WHEREAS, the water revenue bonds identified on Exhibit A attached hereto will be special, limited obligations of the City payable solely from revenues of the Saint Paul Regional Water Services and the water revenue bonds will (i) fund certain water improvement and rehabilitation projects as set forth in the Water Capital Improvement Plan for the years 2022 through 2026, and (ii) pay costs of issuance; and

WHEREAS, the general obligation street improvement or reconstruction bonds identified on Exhibit A attached hereto will be general ...

Click here for full text
Date NameDistrictOpinionCommentAction
No records to display.