Board Bill Number 252 In Session 2009-2010

Summary

BOARD BILL #252 INTRODUCED BY: ALDERWOMAN MARLENE DAVIS An ordinance recommended by the parking commission of the City of St. Louis and authorizing and directing the city, acting through the treasurer of the city in his capacity as supervisor of parking meters, to enter into a standby bond purchase agreement with a bank or financial institution for the sale and purchase of parking revenue bonds, when and if issued, in an aggregate principal amount not to exceed $3,000,000; setting forth certain terms and conditions relative to such bonds; authorizing the negotiated sale of the bonds and the execution and delivery of such a standby bond purchase agreement; approving and authorizing the execution of a tax compliance agreement; and the execution and approval of other documents, as are necessary or desirable to carry out and comply with the intent hereof; authorizing the reimbursement of certain amounts to be expended in connection with the project to be financed with the proceeds of the bonds; and containing a severability clause and an emergency clause.

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