Ordinance 68903

Summary

BOARD BILL #73 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 Six Million Dollars ($6,000,000) of excess moneys that The City of St. Louis (the ?City?), the owner and operator of Lambert-St. Louis International Airport® (the ?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; authorizing transfers in the total amount of Six Million Dollars ($6,000,000) from the Airport Development Fund into the Airport Contingency Fund; further authorizing transfers of funds in the total amount not to exceed Six Million Dollars ($6,000,000) from the Airport Contingency Fund to the Airport Revenue Fund (established under Ordinance 59286, approved October 26, 1984) as are required for the purposes of making funds available for the estimated costs of the Air Service Incentive Program for the Airport adopted by Ordinance 68478, approved November 6, 2009 and the Amended & Restated Air Service Incentive Program for Fiscal Years 2010 through 2014; containing a severability clause; and containing an emergency clause.

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