Board Bill Number 9 Votes In Session 2024-2025

Leasehold Revenue Refunding Bonds

Board Bill

This Board Bill seeks to authorize the issuance of up to Twenty Million Dollars ($20,000,000) leasehold revenue refunding bonds (the “Bonds”). The issuance of the Bonds will result in a decrease in the City’s debt service payment obligations. The debt service costs associated with the Bonds will be paid solely from Rentals and Additional Rental (as such terms are defined in the hereinafter defined Lease Agreement) received by the St. Louis Municipal Finance Corporation (the “Corporation”) from the City under the Amended and Restated Lease Agreement (the “Lease Agreement”) relating to the Convention Center Property (as such term is defined in the Lease Agreement). The City intends to use Hotel Sales Tax and Restaurant Gross Receipts Tax revenues to make such payments. Proceeds from the sale of the Bonds will be used to: (1) to provide funds to pay all or a portion of the costs of refunding all or a portion of the outstanding Series 2015 Bonds, (2) provide for the funding of any required debt service reserve funds and/or the purchase of any credit enhancement, if any, and (3) pay reasonable expenses incurred by the Corporation and the City in connection with the issuance of the Bonds, including premiums for any bond insurance or surety.

View Board Bill 9 details

05/17/2024 Final Passage Vote Results

This board bill was part of a consent vote along with BB 3, BB 9, BB 10

Aye 14
No 0
Final Passage Vote
Ward Alderman Position
1 Anne Schweitzer Aye
2 Tom Oldenburg Aye
4 Bret Narayan Aye
5 Joseph Vollmer Aye
6 Daniela Velazquez Aye
7 Alisha Sonnier Aye
8 Cara Spencer Aye
9 Michael Browning Aye
10 Shameem Clark Hubbard Aye
11 Laura Keys Aye
12 Sharon Tyus Aye
13 Pamela Boyd Aye
14 Rasheen Aldridge Aye
President Megan E Green Aye
3 Shane Cohn Absent

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