Ordinance 70446

Transfer of funds from Airport Stabilization Fund to Airport Revenue Fund

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BOARD BILL 213 INTRODUCED BY ALDERWOMAN LYDA KREWSON 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 during the fiscal year beginning July 1, 2016, 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, 2016; containing a severability clause; and containing an emergency clause.

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Legislative History

Session: 2016-2017
Board Bill Number: 213
Primary Sponsor: Lyda Krewson
Co-Sponsors:
Committee: Transportation and Commerce
First Reading: 12/16/2016
Second Reading: 01/20/2017
Perfection: 01/27/2017
Third Reading: 01/30/2017
Effective Date: 02/08/2017

Topics

See more ordinance tags as Annual Budget and Operating Plan (Block Grant), Airports

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