Ordinance 68883

1520 Market Leashold Rev. Bonds

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Summary

BOARD BILL #4 INTRODUCED BY ALDERWOMAN APRIL FORD-GRIFFIN 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 1520 Market St. Leasehold Revenue Bonds (City of St. Louis, Missouri, Lessee), Series 2011 (the ?Series 2011 Bonds?) in an aggregate principal amount not to exceed $9,250,000, in order to pay and reimburse the City of St. Louis, Missouri (the ?City?) for costs associated with the acquisition, purchase, construction, installation, or equipping of additions to or expansions of or remodeling or modification or rehabilitation of the real property known as and numbered 1520 Market Street, St. Louis, Missouri 63103 (the ?1520 Market St. Property?); authorizing and directing the Corporation to execute and deliver any or all of the First Amended Indenture, the First Amended Base Lease, the First Amended Lease Purchase Agreement, the Tax Compliance Agreement, and the First Amended Deed of Trust (all as defined herein); authorizing the City to execute any or all of the First Amended Base Lease, the First Amended Lease Purchase Agreement, and the Tax Compliance Agreement; authorizing the payment of certain costs of issuance of the Series 2011 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; authorizing the Mayor and the Comptroller to enter into a lease agreement with the St. Louis Development Corporation for certain modified, expanded, remodeled, or rehabilitated portions of the 1520 Market Street Property; and containing an emergency clause.

Overview

Session: 2011-2012

Board Bill Number: 4

Sponsor: April Ford Griffin

Committee: Ways and Means

Effective: 05/25/2011

Legislative History

  • 04/29/2011

    First Reading

  • 05/06/2011

    Second Reading

  • 05/13/2011

    Perfection

  • 05/20/2011

    Third Reading

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