Board Bill Number 230 In Session 2009-2010

Summary

BOARD BILL NO. 230 INTRODUCED BY: ALDERMAN STEPHEN CONWAY An ordinance recommended by the Board of Estimate and Apportionment of the City of St. Louis, Missouri (the "City") authorizing and directing the St. Louis Municipal Finance Corporation (the "Corporation") to issue and sell its Leasehold Revenue Refunding Bonds in order to refund all or a portion of its outstanding Refunded Bonds (as defined herein) and to issue and sell its Leasehold Revenue Improvement Bonds in order to fund the construction, repair, improvement, and renovation of the Cervantes Convention Center (as defined herein), for the general welfare, safety, and benefit of the citizens of the City, which Leasehold Revenue Refunding Bonds and Leasehold Revenue Improvement Bonds (collectively, the "Leasehold Revenue Bonds") may be issued in an aggregate principal amount not to exceed $40,000,000 and may be issued in one or more Series as (i) compound interest bonds, current interest bonds, and/or direct subsidy bonds, (ii) Tax-Exempt Bonds or Taxable Bonds (as such terms are defined herein), and (iii) Parity Bonds or Junior Lien Bonds, and/or (iv) Build America Bonds (as such terms are defined herein); authorizing and directing the officers of the Corporation to execute and deliver the Supplemental Indenture (as defined herein), the Supplemental Lease Purchase Agreement (as defined herein), the Supplemental Deed of Trust (as defined herein), the Official Statement (as defined herein), and the Bond Purchase Agreement (as defined herein); authorizing the City to execute and deliver, as necessary or desirable to facilitate the transactions contemplated hereby, the Supplemental Lease Purchase Agreement, the Tax Compliance Agreement (as defined herein), the Continuing Disclosure Agreement (as defined herein), the Official Statement, and the Bond Purchase Agreement; providing for a debt service reserve fund or funds, if any, and a capitalized interest fund or funds, if any, for the Leasehold Revenue Bonds; authorizing the Corporation and the City to obtain credit enhancement for all or any portion of the Leasehold Revenue Bonds from one or more Credit Providers (as defined herein); authorizing the payment of any obligations due to such Credit Provider or Credit Providers, if any; and authorizing the Comptroller and any other appropriate City officials to execute the Credit Agreement (as defined herein) and other documents related thereto, if any; authorizing participation of appropriate City officials in preparing the Official Statement; authorizing the acceptance of the terms of the Bond Purchase Agreement and the taking of further actions with respect thereto; authorizing the payment of certain costs of issuance of the Leasehold Revenue Bonds; authorizing and directing the taking of other actions and approval and execution of other documents as necessary or desirable to carry out and comply with the intent hereof; and superseding provisions of prior ordinances of the City to the extent inconsistent with the terms hereof.

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