Ordinance 69746

Short term borrowing

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Ordinance

BOARD BILL NO. 25 INTRODUCED BY: Alderman Terry Kennedy and President Lewis Reed An Ordinance to provide for the borrowing of funds in anticipation of the collection of tax payments levied by the City of St. Louis, Missouri for deposit in its General Revenue Fund for the calendar year ending December 31, 2014, and remaining uncollected and other revenues remaining to be collected and deposited in the General Revenue Fund for fiscal year ending June 30, 2015, all such revenues for the General Revenue Fund in the Treasury of the City of St. Louis, Missouri, through the issuance by the City of St. Louis, Missouri of its Tax and Revenue Anticipation Notes, and the acquiring of credit enhancement, if necessary, in order to lower the cost of such borrowing; prescribing the form and details of such Notes; authorizing and approving certain documents and other actions; and containing an emergency clause.

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Legislative History

Session: 2014-2015
Board Bill Number: 25
Primary Sponsor: Terry Kennedy
Co-Sponsors: Lewis E Reed
Committee: Ways and Means
First Reading: 04/25/2014
Second Reading: 05/09/2014
Perfection: 05/16/2014
Third Reading: 05/22/2014
Effective Date: 05/22/2014

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