Board Bill No. 59 | Session 2019-2020

Tax Increment Revenue Notes for St. Louis Innovation District

An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing the issuance, reissuance and delivery of one or more series of tax increment revenue notes, including (a) increasing the not to exceed principal amount of previously-issued RPA 5 tax increment revenue notes (St. Louis Innovation District/RPA 5 Project), Series B (the "RPA 5 Series B Notes"), from an original aggregate principal amount of $2,000,000, plus issuance costs, to an aggregate principal amount not to exceed $7,200,000, plus costs of issuance, for certain Reimbursable Redevelopment Project Costs associated with Redevelopment Project Area 5 of the St. Louis Innovation District Redevelopment Area; and (b) tax increment revenue notes (St. Louis Innovation District/Area-wide Projects), Series 2019 (the "Area-wide Series 2019 Notes"), in an aggregate principal amount not to exceed $42,000,000, plus costs of issuance, for certain Reimbursable Redevelopment Project Costs associated with the Redevelopment Area-wide Projects; authorizing and directing the Mayor and the Comptroller to execute and deliver the Amended and Restated Fourth Supplemental Trust Indenture in connection with the reissuance of the RPA 5 Series B Notes, and to execute and deliver the Seventh Supplemental Trust Indenture in connection with the issuance of the Area-wide Series 2019 Notes; designating the trustee for such notes; authorizing and directing the taking of other actions and approval and execution of other documents as necessary or desirable to carry out and comply with the intent hereof; superseding provisions of prior ordinances of the City to the extent inconsistent with the terms hereof; and containing a severability clause.

Legislative History

Overview

Session:2019-2020
Sponsor: Joseph D Roddy
Co-Sponsors:
Committee: Housing, Urban Development and Zoning
Actions: 06/07/2019 First Reading

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