Board Bill Number 161 In Session 2007-2008

Summary

BOARD BILL NO. 161 INTRODUCED BY ALDERWOMAN PHYLLIS YOUNG An ordinance recommended by the Airport Commission, the Board of Public Service, and the Board of Estimate and Apportionment authorizing and directing the Mayor, Comptroller, City Counselor, and the Director of Airports of the City of St. Louis ("St. Louis"), to enter into and execute on behalf of St. Louis a Settlement Agreement substantially in the form as set out in ATTACHMENT 1 to this ordinance (the "Settlement Agreement"),which is attached hereto and incorporated herein, between St. Louis, the owner and operator of Lambert-St. Louis International Airport® (" Airport") which is located in St. Louis County, Missouri, and The City of Bridgeton, Missouri, ("Bridgeton"), necessary to resolve and settle both of the lawsuits described in Section 1 of the Settlement Agreement (the "Lawsuits') and any other claims known by St. Louis or Bridgeton on the Effective Date as defined in the Settlement Agreement concerning St. Louis' W-1W Expansion Program of the Airport in accordance with and subject to the applicable rules and regulations of the Federal Aviation Administration and the applicable provisions of the Airport's Amended and Restated Indenture of Trust between UMB Bank, N.A., Trustee dated October 15, 1984 as amended, and restated on September 10, 1997 as amended; which Settlement Agreement subject to and in accordance with its terms, covenants, warranties, and conditions also authorizes and provides in part for the following: 1) The payment by St. Louis to Bridgeton of Ten Million Eight Hundred Thousand Dollars ($10,800,000.00) in accordance with the Payment Schedule as defined and provided for in Section 2(a) and Exhibit A Payment Schedule; 2) The retention by Bridgeton of the Commissioners' Awards provided for in Section 2(b) in regard to the Lawsuits; 3) The conveyance by St. Louis to Bridgeton by Quit Claim Deed of approximately 41.73 acres of land within the City of Bridgeton commonly know as the "Carrollton Property" or the "Carrollton Subdivision" (collectively the "Carrollton Property") as provided for in Section 2(c) and Exhibit W Form of Carrollton Property Deed; 4) The leasing by St. Louis to Bridgeton of approximately 9.87 acres of land within the City of Bridgeton as provided for in Section 2(d) and set out in Exhibit D Ground Lease; 5) The conveyance by Bridgeton to St. Louis by Quit Claim Deed of approximately 15.33 acres of land within the City of Bridgeton commonly know as "Freebourne Park" as provided for in Section 2(f) and Exhibit F-4 Form of Freebourne Property and Oak Valley Property Deeds ; 6) The conveyance by Bridgeton to St. Louis by Quit Claim Deed of approximately 11.51 acres of land within the City of Bridgeton commonly know as "Oak Valley Park" as provided for in Section 2(g) and Exhibit F-4 Form of Freebourne Property and Oak Valley Deeds; 7) The conveyance by Bridgeton to St. Louis by Quit Claim Deed of approximately 4.83 acres of real property within the City of Bridgeton commonly know as the "Bridgeton Municipal Complex Property" as provided for in Section 2(h) and Exhibit I Form of Municipal Complex Deed and Exhibit J Escrow Agreement; 8) The lease back by St. Louis of the Bridgeton Municipal Complex Property to Bridgeton for a period commencing on the Final Payment Date, as defined in the Section 2(h) and expiring on the date which is the earlier of (i) two and one-half years after the Final Payment Date or (ii) the date on which Bridgeton has substantially completed the construction of and moved into its replacement municipal complex, in accordance with Section 2(h) and Exhibit K Municipal Complex Lease and Exhibit J Escrow Agreement; 9) The conveyance by Bridgeton to St. Louis by Quit Claim Deed of certain streets within the City of Bridgeton as provided for in Section 2(i) and Exhibit U Form of Streets Deed; 10) The granting by St. Louis of a perpetual easement to Bridgeton granting Bridgeton and the general public vehicular access over certain roads and pedestrian access over the associated sidewalks as provided for in Section 2(i) and Exhibit M Carrollton Easement; and 11) The granting by St. Louis of a perpetual easement to Bridgeton granting Bridgeton and the general public vehicular access over certain roads and pedestrian access over the associated sidewalks as provided for in Section 7(b) and Exhibit T Road Easement; authorizing and directing the Comptroller subject to and in accordance with the provisions of the Settlement Agreement to take such actions that are necessary or appropriate to timely make the cash payments to Bridgeton in the total amount of Ten Million Eight Hundred Thousand Dollars ($10,800,000.00) in accordance with the Payment Schedule as defined and provided for in Section 2(a) and Exhibit A of the Settlement Agreement including, without limitation, the transfer or appropriation of funds from time to time as may be necessary or appropriate from the Airport Development Fund established under authority of Ordinance 59286, Section 13, approved October 26, 1984, into this Ordinance; authorizing the Mayor, Comptroller, Register, City Counselor, Director of Airports and other appropriate officers, agents, and employees of St. Louis, as the case may be, with the advice of the Director of Airports to enter into and execute on behalf of St. Louis and in the St. Louis' best interest any companion, attendant, or related documents, agreements, bill of sales, deeds or instruments contemplated in the Settlement Agreement and attached thereto as an exhibit, or necessary to effectuate the terms set forth in the Settlement Agreement and/or deemed necessary to preserve and protect St. Louis' interest, and to take such actions as are necessary or appropriate in connection with the settlement of the Lawsuits or the consummation of the transactions contemplated in the Settlement Agreement for and in consideration of St. Louis' obligations as set forth in the Settlement Agreement; authorizing the Director of Airports to make such applications and provide such data and to take whatever action necessary to seek funds under the Airport Improvement Program, the Passenger Facility Charge Program or other federal state or local programs for projects or expenditures herein authorized where such projects, costs or expenditures or deemed eligible and/or monies made available for those projects, costs, or expenditures under federal, state, or local law or contract, and to authorize the deposit of such funds as may be appropriate into this Ordinance to pay for the projects, costs, or expenditures herein authorized; providing that the provisions set forth in this Ordinance shall be applicable exclusively to the documents, agreements, bill of sales, deeds, and instruments approved and/or authorized by this Ordinance, and containing a severability clause, and an emergency clause.

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