Police Capital Improvements

Police Capital Improvements debt info

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Police Capital Improvements Leasehold Revenue Bonds

Important Note: All of the information set forth below is historical and subject to change. Investors must read the entire final official statement ("OS"), as well as any updated information regarding these bonds made available by the City of St. Louis (the "City")at the Municipal Securities Rulemaking Board's Electronic Municipal Market Access ("EMMA") website www.emma.msrb.org, to obtain the information essential to the making of an informed investment decision.

Project Description:
The Police Capital Improvement Bonds were issued to finance the design, acquisition, purchase, construction, and installation of certain emergency management and preparedness and public health and safety projects undertaken by the City in cooperation with the Board of Police Commissioners (the "Police Board"). Such projects include capital improvements to properties owned by the Police Board, including three area-command stations, Police Department Headquarters, and the Police Academy, and certain interoperable communications equipment to be used by the City police, fire, and EMS personnel.

Bondholder Security:
The Police Capital Improvements Bonds are special obligations of the St. Louis Municipal Finance Corporation (the "Corporation"), payable solely out of rental and additional rental payments derived by the Corporation from leasing the three area command stations and improvement thereon and the communications equipment to the City. The City has covenanted, subject to annual appropriation, to pay rental and additional rental payments at such times and in such amounts as are necessary to prevent default in the payment of principal or premium, if any, and interest on the Police Capital Improvements Bonds. The City's payments are subject to annual appropriation by the City. If the City fails to budget and appropriate funds for payments in any fiscal year, the lease will terminate at the end of the fiscal year for which funds have been appropriated and the City will be required to vacate the properties.

For a more detailed description of the security for the Police Capital Improvements Bonds, please refer to the Official Statement (link provided below) and to www.emma.msrb.org for any Continuing Disclosure Updates and Material Event Filings.                               

Bonds Outstanding:
There are currently outstanding the following one (1) series of Police Capital Improvements Bonds with an aggregate principal amount of $22,490,000 as follows:

Issuer

Series

New Money / Refunding

Par Outstanding

Final Maturity

St. Louis Municipal Finance Corporation

2007

New Money

$22,490,000

February 15, 2037

     

For Debt Service on Outstanding Bonds as of June 30, 2013 please click here.

 

Official Statements:
Series
2007                              

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