Board Bill Number 17 In Session 2008-2009

Summary

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 BONDS, SERIES 2008A, LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000) (THE "SERIES 2008A BONDS") IN ONE OR MORE SERIES AS PART OF THE $3,500,000,000 OF BONDS APPROVED BY THE VOTERS IN 1991 AND 2003, TO FINANCE THE COST OF THE PURCHASE, CONSTRUCTION, EXTENSION AND IMPROVEMENT OF THE AIRPORT, TO REIMBURSE THE CITY FOR CERTAIN PRIOR AIRPORT CAPITAL EXPENDITURES, TO FUND CAPITALIZED INTEREST, IF ANY, AND, IF DEEMED DESIRABLE, TO PAY ALL OR A PORTION OF THE AIRPORT'S OUTSTANDING COMMERCIAL PAPER, IF ANY, ISSUED FOR SUCH PURPOSES; AND (ii) THE ISSUANCE, IF ANY, BY THE CITY OF ST. LOUIS, MISSOURI OF ITS AIRPORT REVENUE REFUNDING BONDS, SERIES 2008B, LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED FIFTY MILLION DOLLARS ($50,000,000) (THE "SERIES 2008B REFUNDING BONDS" AND, TOGETHER WITH THE SERIES 2008A BONDS, THE "SERIES 2008 BONDS") IN ONE OR MORE SERIES 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 COSTS OF ISSUANCE AND OTHER RELATED TRANSACTION COSTS WITH RESPECT TO THE SERIES 2008 BONDS; SETTING FORTH TERMS AND CONDITIONS FOR THE ISSUANCE OF THE SERIES 2008 BONDS; APPOINTING A TRUSTEE, A BOND REGISTRAR AND A PAYING AGENT IN CONNECTION WITH THE SERIES 2008 BONDS; APPOINTING AN ESCROW AGENT IN CONNECTION WITH ANY OUTSTANDING BONDS TO BE REFUNDED WITH THE PROCEEDS OF THE SERIES 2008B REFUNDING BONDS; APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE SIXTEENTH SUPPLEMENTAL INDENTURE OF TRUST WITH RESPECT TO THE ISSUANCE OF THE SERIES 2008A BONDS AND THE SEVENTEENTH SUPPLEMENTAL INDENTURE OF TRUST WITH RESPECT TO THE ISSUANCE OF ANY SERIES 2008B REFUNDING BONDS INCLUDING ANY CONFORMING OR CLARIFYING AMENDMENTS TO THE AMENDED AND RESTATED INDENTURE OF TRUST, AS AMENDED AND SUPPLEMENTED, OF THE CITY; AUTHORIZING THE NEGOTIATED SALE OF THE SERIES 2008 BONDS AND THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT, AN ESCROW AGREEMENT, IF ANY, AND OTHER MATTERS WITH RESPECT THERETO; AUTHORIZING THE PREPARATION, EXECUTION AND DISTRIBUTION OF THE PRELIMINARY OFFICIAL STATEMENT AND THE OFFICIAL STATEMENT AND THE PREPARATION, EXECUTION AND DELIVERY OF THE CONTINUING DISCLOSURE AGREEMENT; AUTHORIZING THE NEGOTIATION AND PURCHASE OF CREDIT ENHANCEMENT (INCLUDING BOND INSURANCE, CREDIT FACILITIES, AND SURETIES), IF ANY, AND ANY NECESSARY RELATED DOCUMENTS; DECLARING THE OFFICIAL INTENT OF THE CITY TO REIMBURSE ITSELF OUT OF THE PROCEEDS OF THE SERIES 2008A BONDS FOR CERTAIN PRIOR EXPENDITURES OF THE CITY FOR PURPOSES OF TREASURY REGULATION SECTION 1.150-2; AUTHORIZING THE PROPER OFFICIALS, AGENTS AND EMPLOYEES OF THE CITY TO EXECUTE SUCH DOCUMENTS AND TO TAKE SUCH ACTIONS AS ARE NECESSARY OR APPROPRIATE IN CONNECTION WITH THE FOREGOING MATTERS; REPEALING ORDINANCES OF THE CITY TO THE EXTENT INCONSISTENT WITH THE TERMS HEREOF; AND CONTAINING A SEVERABILITY CLAUSE AND EMERGENCY CLAUSE.

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