Board Bill Number 263 In Session 2012-2013
Debt stabilization transfer funds
Summary
BOARD BILL # 263 INTRODUCED BY ALDERMAN TERRY KENNEDY An ordinance recommended and approved by the Airport Commission, the Comptroller and the Board of Estimate and Apportionment, making certain findings with respect to the transfer of up to Thirteen Million Seven Hundred Twenty-Seven Thousand Seven Hundred Sixty-Nine Dollars ($13,727,769) of excess moneys that The City of St. Louis (the "City"), the owner and operator of Lambert-St. Louis International Airport® (the "Airport"), intends to transfer from the Debt Service Stabilization Fund (the "DSSF") to the Airport Revenue Fund (the "Revenue Fund") in accordance with Section 516.B of the Lambert-St. Louis International Airport® Indenture of Trust between the City, as Grantor, and UMB Bank, N.A., as Trustee, dated as of October 15, 1984, as amended and restated as of July 1, 2009, as amended and supplemented (the "Indenture"); authorizing a transfer in an amount not to exceed Thirteen Million Seven Hundred Twenty-Seven Thousand Seven Hundred Sixty-Nine Dollars ($13,727,769) from the DSSF into the Revenue Fund to be used to make funds available to mitigate rates on an annual basis during the term of the Airport Use and Lease Agreement commencing July 1, 2011; containing a severability clause; and containing an emergency clause.
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- Introduced (17.62 KB PDF)
Overview
Session: 2012-2013
Primary Sponsors: Terry Kennedy
Ordinance: 69383 effective 02/06/2013
Committee: Transportation and Commerce
Legislative History
Legislative activities for this board bill. Learn more about what these activities mean.
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01/11/2013
First Reading
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01/18/2013
Second Reading
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01/25/2013
Perfection
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02/01/2013
Third Reading
Ordinance
Ordinance Number: 69383
Effective Date: 02/06/2013
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