Ordinance 69723

Summary

BOARD BILL #319 INTRODUCED BY ALDERMAN JOSEPH RODDY AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE AND DELIVERY OF ONE OR MORE SERIES OF TAX INCREMENT REVENUE NOTES (ST. LOUIS INNOVATION DISTRICT/RPA 7 PROJECT) SERIES A AND SERIES B (COLLECTIVELY, THE “RPA 7 NOTES”) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $37,100,000, PLUS COSTS OF ISSUANCE, FOR CERTAIN REIMBURSABLE REDEVELOPMENT PROJECT COSTS ASSOCIATED WITH REDEVELOPMENT PROJECT AREA 7 OF THE ST. LOUIS INNOVATION DISTRICT REDEVELOPMENT AREA IN ACCORDANCE WITH THE TERMS OF THE REDEVELOPMENT AGREEMENT; AUTHORIZING AND DIRECTING THE MAYOR AND THE COMPTROLLER TO EXECUTE AND DELIVER THE SUPPLEMENTAL TRUST INDENTURE IN CONNECTION WITH THE ISSUANCE OF RPA 7 NOTES; DESIGNATING THE TRUSTEE FOR SUCH NOTES; 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; AND CONTAINING A SEVERABILITY CLAUSE.

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