Ordinance 69525

Summary

BOARD BILL #115 INTRODUCED BY ALDERMAN JOSEPH RODDY AN ORDINANCE AUTHORIZING THE ISSUANCE AND DELIVERY OF ONE OR MORE SERIES OF TAX INCREMENT REVENUE NOTES (ST. LOUIS INNOVATION DISTRICT) (THE “NOTES”) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $167,000,000, PLUS COSTS OF ISSUANCE, FOR CERTAIN REIMBURSABLE REDEVELOPMENT PROJECT COSTS ASSOCIATED WITH THE ST. LOUIS INNOVATION DISTRICT REDEVELOPMENT AREA; AUTHORIZING AND DIRECTING THE ISSUANCE OF INITIAL ISSUANCE OF FOUR SEPARATE SERIES OF NOTES IN VARYING AMOUNTS TO FUND REDEVELOPMENT PROJECTS WITHIN THE REDEVELOPMENT AREA IN ACCORDANCE WITH THE TERMS OF THE REDEVELOPMENT AGREEMENT; AUTHORIZING AND DIRECTING THE MAYOR AND THE COMPTROLLER TO EXECUTE AND DELIVER THE TRUST INDENTURE IN CONNECTION WITH THE INITIAL ISSUANCE OF NOTES; DESIGNATING THE TRUSTEE FOR THE NOTES; 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; SUPERSEDING PROVISIONS OF PRIOR ORDINANCES OF THE CITY TO THE EXTENT INCONSISTENT WITH THE TERMS HEREOF; AND CONTAINING A SEVERABILITY CLAUSE.

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