Ordinance 69672

Transfer of Debt Service Funds

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Summary

BOARD BILL 268 INTRODUCED BY ALDERMAN STEPHEN CONWAY 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: 2013-2014

Board Bill Number: 268

Sponsor: Stephen Conway

Committee: Transportation and Commerce

Effective: 02/13/2014

Legislative History

  • 12/13/2013

    First Reading

  • 01/24/2014

    Second Reading

  • 01/31/2014

    Perfection

  • 02/07/2014

    Third Reading

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