Board Bill Number 249 In Session 2010-2011

Summary

BOARD BILL # 249 INTRODUCED BY ALDERMAN TERRY KENNEDY An ordinance recommended and approved by the Airport Commission and the Board of Estimate and Apportionment, making certain findings with respect to the transfer of One Million Four Hundred Thirty Six Thousand Eight Hundred and Sixteen Dollars ($1,436,816) of excess moneys that The City of St. Louis (the "City"), the owner and operator of Lambert-St. Louis International Airport®, intends to transfer from the "Airport Development Fund" (established under Ordinance 59286, Section 13, approved October 26, 1984) into the "Airport Contingency Fund" (established under Ordinance 59286 approved October 26, 1984, Exhibit A, Article V, Sections 502 and 510) in accordance with Section 509.F of the Lambert-St. Louis International Airport® Amended and Restated Indenture of Trust between the City, as Grantor, and UMB Bank, N.A., as Trustee, dated as of October 15, 1984, as amended and restated as of July 1, 2009 (the "Restated Indenture"); authorizing a transfer in the total amount of One Million Four Hundred Thirty Six Thousand Eight Hundred Sixteen Dollars ($1,436,816) from the Airport Contingency Fund into the Airport Revenue Fund, established by Section 502 of the Restated Indenture, to be used to reimburse the airlines for amortization costs associated with the W-1W Expansion Program authorized by Ordinance 64279, approved March 9, 1998; containing a severability clause; and containing an emergency clause.

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