Ordinance 67974

An ordinance recommended by the Board of Estimate and Apportionment of the City of St. Louis, Missouri (the “City”) amending Ordinance No. 67969 and authorizing and directing the issuance and sale by the St. Louis Municipal Finance Corporation (the “Corporation”) of its Tax-Exempt Public Safety Sale

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An ordinance recommended by the Board of Estimate and Apportionment of the City of St. Louis, Missouri (the “City”) amending Ordinance No. 67969 and authorizing and directing the issuance and sale by the St. Louis Municipal Finance Corporation (the “Corporation”) of its Tax-Exempt Public Safety Sales Tax Leasehold Revenue Bonds (City of St. Louis, Missouri, Lessee), Series 2008A (the “Series 2008A Bonds”), its Tax-Exempt Juvenile Detention Center Leasehold Revenue Bonds (City of St. Louis, Missouri, Lessee), Series 2008C (the “Series 2008C Bonds” and, together with the Series 2008A Bonds, the “Tax-Exempt Bonds”), in order to fund the construction, installation, rehabilitation, and improvement of certain capital improvements, and/or its Taxable Public Safety Sales Tax Leasehold Revenue Bonds (City of St. Louis, Missouri, Lessee), Series 2008B (Pension Funding Project) (the “Taxable Bonds”) in order to pay certain actuarially required contributions coming due in the City’s current fiscal year (“Fiscal Year 2008”) in connection with the City of St. Louis Police Retirement System (the “PRS”), the City of St. Louis Firemen’s Retirement System (the “FRS”), and/or the City of St. Louis Employees’ Retirement System (the “ERS” and together with the PRS and FRS, the “Retirement Systems”), in an aggregate principal amount not to exceed $45,000,000 (collectively, the “Series 2008 Bonds”), for the general welfare, safety, and benefit of the citizens of the City; authorizing and directing the Corporation to execute and deliver, as necessary or desirable to facilitate the transactions contemplated hereby, any of the Indenture, the Base Lease, the Lease Purchase Agreement, the Leasehold Deed of Trust, the Interest Rate Exchange Agreement, the Tax Compliance Agreement, the Official Statement, and the Bond Purchase Agreement (all as defined herein); authorizing the City to execute and deliver, as necessary or desirable to facilitate the transactions contemplated hereby, any of the Base Lease, the Lease Purchase Agreement, the Tax Compliance Agreement, the Continuing Disclosure Agreement (as defined herein), any Interest Rate Exchange Agreement to which the City is a party, the Official Statement, and the Bond Purchase Agreement; providing for a debt service reserve fund or funds, if any, for the Series 2008 Bonds; authorizing the Corporation and the City to obtain credit enhancement for a portion or all of the Series 2008 Bonds from a Credit Provider (as defined herein); 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 (as defined herein) 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 2008 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; and 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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Legislative History

Session: 2008-2009
Board Bill Number: 25
Primary Sponsor: Stephen Conway
Co-Sponsors:
Committee: Ways and Means
First Reading: 04/25/2008
Second Reading: 05/09/2008
Perfection: 05/16/2008
Third Reading: 05/22/2008
Effective Date: 05/22/2008

Topics

See more ordinance tags as Fire Departments (Fire Department), Employees (Civil Service)

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