Board Bill Number 8 In Session 2024-2025
City Parks Leasehold Improvement Dedicated Revenue Refunding Bonds, Series 2024
Summary
This Board Bill seeks to authorize and direct the issuance of up to Twenty Five Million Dollars ($25,000,000) principal amount of City Parks Leasehold Improvement Dedicated Revenue Refunding Bonds, Series 2024 (the "Bonds") by the St. Louis Municipal Finance Corporation. The issuance of the Bonds will result in a decrease in the City's debt service payment obligations. The Bonds will be secured and payable solely from Dedicated Revenues. Subject to an annual maximum, Dedicated Revenues include each of the following: (i) 6.579 percent the Capital Improvement Sales Tax revenues received by The City of St. Louis, Missouri (the "City"); (ii) 15.5 percent of the City's share of revenues from the Metropolitan Park and Recreation District Capital Improvements Sales Tax; and (iii) $1,200,000 of the City's share of revenues from the Metro Parks Sales Tax, excluding the amount dedicated to Forest Park. Proceeds from the sale of the Bonds will be used to: (1) refund all or a portion of previously issued city parks bonds, (2) provide for the funding of any required debt service reserve fund, and (3) pay the costs associated with issuing the Bonds, including premiums for any bond insurance or surety.
Download
Latest Bill text:
- Introduced (358.90 KB PDF)
Overview
Session: 2024-2025
Introduced: 04/26/2024
Primary Sponsors: Pamela Boyd
Latest Activity: Register Returns Notice with Ordinance Number
Ordinance: 71853 effective 06/06/2024
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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04/26/2024
First Reading
Bill text was introduced (358.90 KB PDF).
04/26/2024Referred to a Committee
The bill was assigned to the Health and Human Development Committee.
05/16/2024Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Health and Human Development Committee hearing.
05/17/2024Second Reading
05/23/2024Perfection
The bill was passed.
05/23/2024Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
05/23/2024Third Reading
The bill was passed.
05/23/2024Delivered to Mayor
06/06/2024Mayor Returns Bill
The bill was approved.
06/06/2024Feedback is anonymous.5 comments from people like you have helped us improve this page. Keep the feedback coming!
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