Board Bill Number 175 In Session 2017-2018

Summary

BOARD BILL #175 INTRODUCED BY ALDERMAN JACK COATAR An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing that The City of St. Louis, Missouri Taxable Tax Increment Revenue Note (706 Market Redevelopment Project) Series 2016-A dated April 19, 2016 in a principal amount not to exceed $7,000,000 plus issuance costs (the "Series 2016-A Note") be refunded and reissued as a Tax-Exempt TIF Note (as defined in Ordinance No. 69647) with a reduced interest rate (the "Reissued Series 2016-A Note"); authorizing and directing the City to enter into a Placement Agreement (the "Placement Agreement") with Stern Brothers & Co. (the "Placement Agent"), pursuant to which the parties provide for the purchase of the Reissued Series 2016-A Note by the initial purchaser thereof ("Purchaser"); authorizing and directing the Mayor and the Comptroller on behalf of the City to execute and deliver the Reissued Series 2016-A Note; authorizing and directing the Mayor and the Comptroller to execute and deliver a Tax Compliance Certificate in connection with the issuance of the Reissued Series 2016-A Note; authorizing and directing the taking of other actions and approval and execution of other documents as is necessary or desirable to carry out and comply with the intent hereof; amending provisions of Ordinance No. 69647 (the "Original Note Ordinance") as set forth herein; superseding provisions of prior ordinances of the City to the extent inconsistent with the terms hereof; and containing a severability clause.

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