Board Bill Number 85 | Session 2014-2015

Air service incentive financing

Board Bill

BOARD BILL # 85 INTRODUCED BY ALDERMAN STEPHEN CONWAY An Ordinance recommended and approved by the Airport Commission and the Board of Estimate and Apportionment, making certain findings with respect to the transfer of Two Million Two Hundred Thousand Dollars ($2,200,000.00) 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 "Airport Development Fund" (established under Ordinance 59286, Section 13, approved October 26, 1984) into the "Airport Contingency Fund" (established under Ordinance 59286 approved October 26, 1984, Exhibit A, Article V, Sections 502 and 510) in accordance with Section 509.F of the Airport Amended and Restated 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; authorizing transfers in the total amount of Two Million Two Hundred Thousand Dollars ($2,200,000.00) from the Airport Development Fund into the Airport Contingency Fund; further authorizing transfers of funds in the total amount not to exceed Three Million Two Hundred Four Thousand Three Hundred Fifty Four Dollars ($3,204,354.00) from the Airport Contingency Fund to the Airport Revenue Fund (established under Ordinance 59286, approved October 26, 1984) as are required for the purposes of making funds available for the estimated costs of the Airport's Air Service Incentive Program for Fiscal Years 2015 through 2017; containing a severability clause; and containing an emergency clause.

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Legislative History

Session:2014-2015
Sponsor: Stephen Conway
Co-Sponsors:
Committee: Transportation and Commerce
Actions: 07/03/2014 Third Reading
06/27/2014 Perfection
06/20/2014 Second Reading
06/13/2014 First Reading

Ordinance

Effective Date: 07/07/2014
Ordinance #: 69793

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