Ordinance 67495

Summary

BOARD BILL NO. 51 INTRODUCED BY: ALDERMAN STEPHEN CONWAY An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing the St. Louis Municipal Finance Corporation (the “Corporation”) to issue and sell the Corporation’s Recreation Sales Tax Leasehold Revenue Bonds (City of St. Louis, Missouri, Lessee), Series 2007 (the “Series 2007 Bonds”) in an aggregate principal amount not to exceed $65,000,000, in order to fund all or a portion of the design and construction of two (2) new recreation centers and the renovation of several existing recreation centers (collectively, the “Project”) located within the boundaries of the City of St. Louis, Missouri (the “City”), for the general welfare, safety and benefit of the citizens of the City; authorizing and directing the Corporation to execute and deliver the Indenture, the Base Lease, the Lease Purchase Agreement, the Tax Compliance Agreement, the Official Statement, and the Bond Purchase Agreement (all as defined herein); authorizing the City to execute the Base Lease, the Lease Purchase Agreement, the Continuing Disclosure Agreement, the Tax Compliance Agreement, the Official Statement, and the Bond Purchase Agreement, if any (all as defined herein); providing for a debt service reserve fund for the Series 2007 Bonds, if any; providing for a capitalized interest account for the Series 2007 Bonds, if any; authorizing the Corporation and the City to obtain credit enhancement for the Series 2007 Bonds from a Credit Provider, authorizing the payment of any obligations due to a Credit Provider, if any, and authorizing the Comptroller and any other appropriate City officials to execute the Credit Agreement and other documents related thereto, if any; authorizing participation of appropriate City officials in preparing the Official Statement; authorizing the acceptance of the terms of the Bond Purchase Agreement and the taking of further actions with respect thereto; authorizing the payment of certain costs of issuance of the Series 2007 Bonds; authorizing and directing the taking of other actions and approval and execution of other documents as necessary or desirable to carry out and comply with the intent hereof; superseding provisions of prior ordinances of the City to the extent inconsistent with the terms hereof; and containing an emergency clause.

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