Ordinance 68701

Summary

BOARD BILL # 73 INTRODUCED BY ALDERWOMAN YOUNG AN ORDINANCE RECOMMENDED BY THE BOARD OF ESTIMATE AND APPORTIONMENT AUTHORIZING THE CITY OF ST. LOUIS, MISSOURI TO ENTER INTO A DEVELOPMENT AGREEMENT WITH PEABODY INVESTMENTS CORP.; AUTHORIZING THE CITY TO ISSUE ITS TAXABLE INDUSTRIAL DEVELOPMENT REVENUE BONDS (PEABODY ENERGY CORPORATION PROJECT), SERIES 2010, IN A PRINCIPAL AMOUNT NOT TO EXCEED $50,000,000 FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COSTS OF ACQUIRING CERTAIN EQUIPMENT FOR AN INDUSTRIAL DEVELOPMENT PROJECT IN THE CITY; APPROVING A PLAN FOR SUCH PROJECT; AUTHORIZING AND DIRECTING THE MAYOR AND THE COMPTROLLER TO EXECUTE CERTAIN DOCUMENTS RELATED THERETO; AUTHORIZING AND DIRECTING THE MAYOR AND THE COMPTROLLER TO ENTER INTO ONE OR MORE LEASES WITH RESPECT TO CERTAIN REAL PROPERTY PERTAINING TO SUCH PROJECT; AND 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.

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