Ordinance 70823

Summary

AN ORDINANCE RECOMMENDED BY THE BOARD OF ESTIMATE AND APPORTIONMENT AUTHORIZING THE ISSUANCE AND DELIVERY OF NOT TO EXCEED FIFTY MILLION DOLLARS ($50,000,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS, SERIES 2018, OF THE CITY OF ST. LOUIS, MISSOURI, FOR THE PURPOSES OF PAYING THE COSTS OF THE PROJECT (AS DEFINED HEREIN) AND THE COSTS OF ISSUANCE OF SUCH BONDS, ALL FOR THE GENERAL WELFARE, SAFETY, AND BENEFIT OF THE CITIZENS OF THE CITY OF ST. LOUIS, MISSOURI; AUTHORIZING THE PREPARATION, EXECUTION AND DISTRIBUTION OF THE PRELIMINARY OFFICIAL STATEMENT AND THE OFFICIAL STATEMENT, AND THE PREPARATION, EXECUTION AND DELIVERY OF THE BOND PURCHASE AGREEMENT, THE CONTINUING DISCLOSURE AGREEMENT AND THE TAX COMPLIANCE CERTIFICATE, AND OTHER MATTERS WITH RESPECT THERETO; AUTHORIZING THE NEGOTIATION AND PURCHASE OF BOND INSURANCE, IF ANY, AND THE APPROVAL AND EXECUTION OF DOCUMENTS NECESSARY TO COMPLY WITH THE DUTIES OF THE CITY OF ST. LOUIS, MISSOURI UNDER ANY AGREEMENT FOR BOND INSURANCE; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON SUCH BONDS AS THEY BECOME DUE; AUTHORIZING THE TAKING OF OTHER ACTIONS AND APPROVAL AND EXECUTION OF OTHER DOCUMENTS AS NECESSARY AND 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; CONTAINING A SEVERABILITY CLAUSE; AND CONTAINING AN EMERGENCY CLAUSE.

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