Ordinance 66686

Summary

AN ORDINANCE RECOMMENDED BY THE BOARD OF ESTIMATE AND APPORTIONMENT AUTHORIZING AND DIRECTING THE ISSUANCE AND DELIVERY OF NOT TO EXCEED $50,000,000 PRINCIPAL AMOUNT OF PUBLIC SAFETY GENERAL OBLIGATION REFUNDING BONDS, SERIES 2005, OF THE CITY OF ST. LOUIS, MISSOURI, TO EFFECT THE REFUNDING OF ALL OR A PORTION OF THE CITY OF ST. LOUIS, MISSOURI PUBLIC SAFETY GENERAL OBLIGATION BONDS, SERIES 1999 (REFERRED TO AS THE “REFUNDED BONDS”) AND PAYING THE COSTS OF ISSUANCE OF THE BONDS; SETTING FORTH CERTAIN TERMS AND CONDITIONS FOR THE ISSUANCE OF SUCH BONDS; PRESCRIBING THE FORM AND DETAILS OF THE BONDS; APPOINTING A PAYING AGENT AND BOND REGISTRAR IN CONNECTION WITH SUCH BONDS; APPOINTING AN ESCROW AGENT IN CONNECTION WITH THE REFUNDING OF THE REFUNDED BONDS, AUTHORIZING THE NEGOTIATED SALE OF THE BONDS AND THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT; 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, THE ESCROW AGREEMENT, AND OTHER MATTERS WITH RESPECT THERETO; AUTHORIZING THE NEGOTIATION AND PURCHASE OF BOND INSURANCE, IF ANY, AND THE APPROVAL AND EXECUTION OF DOCUMENTS NECESSARY TO COMPLY WITH THE DUTIES OF THE CITY UNDER ANY AGREEMENT FOR BOND INSURANCE; AND PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON THE BONDS AS THEY BECOME DUE; 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 OF THIS ORDINANCE; AND CONTAINING SEVERABILITY AND EMERGENCY CLAUSES.

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