Ordinance 69893

Low interest loans for residential energy efficiency

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Ordinance

BOARD BILL #197 BOARD BILL #197CS INTRODUCED BY ALDERMAN TERRY KENNEDY, PRESIDENT LEWIS REED, ALDERMAN FRANK WILLIAMSON, ALDERMAN SAMUEL MOORE An Ordinance recommended by the Board of Estimate and Apportionment authorizing The City of St. Louis, Missouri (the “City”) to establish green community program for the purpose of making low-interest loans for residential energy efficiency projects and public building energy conservation projects and to issue and sell, in one or more series, its Qualified Energy Conservation Bonds (Energy Efficiency Program), Series 2014 in an aggregate principal amount not to exceed $3,900,000 (the “Series 2014 Bonds” or “Bonds”) in order to finance public building energy conservation projects and the low-interest loan green community program, all for the general welfare, safety and benefit of the citizens of the City, authorizing and directing the City to execute and deliver the Indenture, the Tax Compliance Agreement, the Continuing Disclosure Agreement, the Offering Document, the Bond Purchase Agreement, and the Credit Agreement, if any (all as defined herein); authorizing the City to obtain credit enhancement for the Series 2014 Bonds from a Credit Provider (as defined herein); authorizing the payment of any obligations due to a Credit Provider, if any, and authorizing the Comptroller and any other appropriate City officials to execute the Credit Agreement and other documents related thereto, if any; authorizing participation of appropriate City officials in preparing a disclosure document in the form of either an Official Statement or Private Placement Memorandum (the “Offering Document”), if any; authorizing the acceptance of the terms of the Bond Purchase Agreement and the taking of further actions with respect thereto; authorizing the payment of certain costs of issuance, green community program expenses and/or reimbursement of city general fund expenses in connection with the Series 2014 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; and containing an emergency clause.

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Legislative History

Session: 2014-2015
Board Bill Number: 197
Primary Sponsor: Terry Kennedy
Co-Sponsors: Samuel L Moore
Frank Williamson
Lewis E Reed
Committee: Ways and Means
First Reading: 11/14/2014
Second Reading: 11/21/2014
Perfection: 12/05/2014
Third Reading: 12/12/2014
Effective Date: 12/18/2014

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