Board Bill Number 264 In Session 2006-2007

Summary

BOARD BILL NO. 264 INTRODUCED BY ALDERWOMAN PHYLLIS YOUNG AN ORDINANCE RECOMMENDED BY THE BOARD OF ESTIMATE AND APPORTIONMENT AUTHORIZING AND DIRECTING (i) THE ISSUANCE BY THE CITY OF ST. LOUIS, MISSOURI OF ITS AIRPORT REVENUE REFUNDING BONDS, SERIES 2006, LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT, IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED TWO HUNDRED SEVENTY-FIVE MILLION DOLLARS ($275,000,000), AND (ii) THE ISSUANCE BY THE CITY OF ST. LOUIS, MISSOURI OF ITS AIRPORT REVENUE REFUNDING BONDS, SERIES 2007, LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT, IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED ONE HUNDRED TWENTY-FIVE MILLION DOLLARS ($125,000,000), EACH TO EFFECT THE REFUNDING OF A PORTION OF THE CITY'S OUTSTANDING AIRPORT REVENUE BONDS; PROVIDING FOR THE FUNDING OF ANY REQUIRED RESERVE FUNDS AND FOR THE PAYMENT OF CERTAIN COSTS OF ISSUANCE; SETTING FORTH CERTAIN TERMS AND CONDITIONS FOR THE ISSUANCE OF SUCH REFUNDING BONDS; APPOINTING A TRUSTEE, A BOND REGISTRAR AND A PAYING AGENT IN CONNECTION WITH SUCH REFUNDING BONDS; APPOINTING AN ESCROW AGENT IN CONNECTION WITH THE OUTSTANDING BONDS TO BE REFUNDED WITH PROCEEDS OF THE REFUNDING BONDS; AND APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE FOURTEENTH SUPPLEMENTAL INDENTURE OF TRUST WITH RESPECT TO THE ISSUANCE OF THE SERIES 2006 REFUNDING BONDS AND APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE FIFTEENTH SUPPLEMENTAL INDENTURE OF TRUST WITH RESPECT TO THE ISSUANCE OF THE SERIES 2007 REFUNDING BONDS AND ANY CONFORMING OR CLARIFYING AMENDMENTS TO THE REVISED GENERAL AIRPORT REVENUE BOND INDENTURE; AUTHORIZING THE NEGOTIATED SALE OF THE REFUNDING BONDS AND THE EXECUTION AND DELIVERY OF BOND PURCHASE AGREEMENTS; AUTHORIZING THE PREPARATION, EXECUTION AND DISTRIBUTION OF THE PRELIMINARY OFFICIAL STATEMENTS AND THE OFFICIAL STATEMENTS AND THE PREPARATION, EXECUTION AND DELIVERY OF THE CONTINUING DISCLOSURE AGREEMENTS, THE ESCROW AGREEMENTS AND OTHER MATTERS WITH RESPECT THERETO; AUTHORIZING THE NEGOTIATION AND PURCHASE OF CREDIT ENHANCEMENT, IF ANY, AND CREDIT FACILITIES OR SURETIES, IF ANY, FOR ANY REQUIRED RESERVE FUNDS, IF ANY, AND THE APPROVAL AND EXECUTION OF DOCUMENTS NECESSARY TO COMPLY WITH THE DUTIES OF THE CITY UNDER ANY AGREEMENT FOR CREDIT ENHANCEMENT, IF ANY, AND CREDIT FACILITIES OR SURETIES, IF ANY, FOR ANY REQUIRED RESERVE FUNDS; AUTHORIZING INTEREST RATE EXCHANGE AGREEMENTS; AUTHORIZING THE ISSUANCE OF ALL OR A PORTION OF THE REFUNDING BONDS AS BONDS BEARING INTEREST AT VARIABLE RATES, IF ANY, AND PROVIDING FOR A LIQUIDITY FACILITY AND OTHER RELATED DOCUMENTS, IF ANY, FOR SUCH VARIABLE RATE BONDS; AUTHORIZING THE PROPER OFFICIALS, AGENTS AND EMPLOYEES OF THE CITY TO EXECUTE SUCH DOCUMENTS AND TO TAKE SUCH ACTIONS AS ARE NECESSARY OR APPROPRIATE; REPEALING ORDINANCES OF THE CITY TO THE EXTENT INCONSISTENT WITH THE TERMS HEREOF; AND CONTAINING SEVERABILITY AND EMERGENCY CLAUSES.

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