Ordinance 69036

Transfer of 13,727,769 to the Airport

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Summary

BOARD BILL # 141 INTRODUCED BY ALDERMAN TERRY KENNEDY An ordinance recommended and approved by the Airport Commission, the Comptroller and the Board of Estimate and Apportionment, making certain findings with respect to the transfer of up to Thirteen Million Seven Hundred Twenty-Seven Thousand Seven Hundred Sixty-Nine Dollars ($13,727,769) of excess moneys that The City of St. Louis (the ?City?), the owner and operator of Lambert-St. Louis International Airport® (the ?Airport?), intends to transfer from the Debt Service Stabilization Fund (the ?DSSF?) to the Airport Revenue Fund (the ?Revenue Fund?) in accordance with Section 516.B of the Lambert-St. Louis International Airport® Indenture of Trust between the City, as Grantor, and UMB Bank, N.A., as Trustee, dated as of October 15, 1984, as amended and restated as of July 1, 2009, as amended and supplemented (the ?Indenture?); authorizing a transfer in an amount not to exceed Thirteen Million Seven Hundred Twenty-Seven Thousand Seven Hundred Sixty-Nine Dollars ($13,727,769) from the DSSF into the Revenue Fund to be used to make funds available to mitigate rates on an annual basis during the term of the Airport Use and Lease Agreement commencing July 1, 2011; containing a severability clause; and containing an emergency clause.

Overview

Session: 2011-2012

Board Bill Number: 141

Primary Sponsors: Terry Kennedy

Committee: Transportation and Commerce

Effective: 11/22/2011

Legislative History

  • 09/16/2011

    First Reading

  • 11/04/2011

    Second Reading

  • 11/10/2011

    Perfection

  • 11/18/2011

    Third Reading

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