Ordinance 67618

Police sales tax bonds

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Summary

BOARD BILL NO. 225 INTRODUCED BY:PRESIDENT REED AND ALDERMAN TERRY KENNEDY 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 its Police Capital Improvement 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 $25,000,000, in order to fund certain emergency management and preparedness and public health and safety projects, including the purchase of certain communications equipment and/or all or a portion of the design, acquisition, and/or construction of capital improvements for the St. Louis Metropolitan Police Department (the “Police Department”), all for the general welfare, safety and benefit of the citizens of the City of St. Louis, Missouri (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 (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, if any; 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.

Overview

Session: 2007-2008

Board Bill Number: 225

Sponsor: Lewis E Reed

Committee: Public Safety

Effective: 07/30/2007

Co-Sponsors:

Terry Kennedy

Legislative History

  • 07/13/2007

    First Reading

  • 07/18/2007

    Second Reading

  • 07/20/2007

    Perfection

  • 07/20/2007

    Third Reading

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