Refuse / Municipal Garage
Description of project and outstanding debt service.
Refuse / Municipal Garage Leasehold Revenue Bonds
All of the information set forth below is historical and subject to change. Investors must read the entire 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 making an informed investment decision.
The Refuse / Municipal Garage Bonds have provided financing for a portion of the costs associated with the acquisition of certain real property located at 1214-18 Central Industrial Drive in the City, and the improvements located thereon (the "Real Property") and the construction, renovation, improvement, equipping, and furnishing of a refuse and vehicle maintenance facility located on the Real Property (the "Refuse Facility Project"); and (2) paying and reimbursing the City for a portion of the costs associated with the repair, construction, renovation, improvement, and equipping of a municipal garage located at 1122 Clark Avenue in the City (the "Municipal Garage Project").
The Refuse / Municipal Garage Bonds are special obligations of the St. Louis Municipal Finance Corporation (the "Corporation"), payable out of the rental and additional rental payments derived by the Corporation from the City's General Fund, including, as it relates to the Refuse Facility Project, the rent paid to the City by the private entities who occupy a portion of the building and property, and, as it relates to the Municipal Garage Project, revenues generated from parking and permit fees collected by the City at the Municipal Garage facility. 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 property.
For a more detailed description of the security for the Refuse / Municipal Garage 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.
There are currently outstanding the following two (2) series of Refuse / Municipal Garage Bonds with an aggregate principal amount of $11,810,000 as follows:
|Issuer||Series||New Money / Refunding||Par Outstanding||Final Maturity|
|St. Louis Municipal Finance Corporation||2016A||New Money||$5,975,000||April 15, 2026|
|St. Louis Municipal Finance Corporation||2016B (Taxable)||New Money||$5,835,000||April 15, 2022|