Ordinance 70240

Summary

BOARD BILL NO. 318 INTRODUCED BY ALDERMAN STEPHEN CONWAY An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing the St. Louis Municipal Finance Corporation (as further defined herein, the “Corporation”) to issue and sell its Leasehold Revenue Bonds – Refuse Facility and Municipal Garage Projects, Series 2016 (City of St. Louis, Missouri, Lessee) (the “Series 2016 Bonds”) in one or more series, in an aggregate principal amount of not to exceed $13,000,000, in order to finance or refinance (1) a portion of the costs of the acquisition of certain real property and improvements located at 1214-18 Central Industrial Drive, and the construction, renovation, improvement, equipping and furnishing of a refuse and vehicle maintenance facility located thereon, and (2) a portion of the costs of the repair, construction, renovation, improvement, and equipping of a municipal garage located at 1122 Clark Avenue, all for the general welfare, safety and benefit of the citizens of The City of St. Louis, Missouri (the “City”); authorizing and directing the officers of the Corporation to execute and deliver the herein defined Corporation Documents; authorizing the obtaining of credit enhancement, if any, for the Series 2016 Bonds from a Credit Provider, as defined below, and the payment of any obligations due to a Credit Provider, if any; and authorizing the Mayor, the Comptroller and any other appropriate City officials, if necessary, to execute the herein defined City Documents; authorizing participation of appropriate City officials, agents, and employees in preparing the Corporation’s preliminary Official Statement and final Official Statement for the Series 2016 Bonds, and the acceptance of the terms of a Bond Purchase Agreement for the Series 2016 Bonds and the taking of further actions with respect thereto; authorizing the funding of a debt service reserve fund for the Series 2016 Bonds, if any, and the funding of a capitalized interest fund for the Series 2016 Bonds, if any, and the payment of certain costs of issuance of the Series 2016 Bonds; and 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 containing an emergency clause.

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