Ordinance 70522

Summary

BOARD BILL # 250 INTRODUCED BY ALDERMAN THOMAS VILLA An Ordinance relating to the I-55/Loughborough Redevelopment Project authorizing and directing the Mayor and Comptroller of The City of St. Louis, Missouri (the “City”) to execute a First Supplemental Financing Agreement (defined herein), which supplements and amends that certain Financing Agreement (defined herein), by and among the City, the Industrial Development Authority of the City of St. Louis, Missouri (the “Authority”) and the Loughborough Commons Community Improvement District (the “District”), in connection with the Authority’s Tax Increment and Community Improvement Refunding Revenue Bonds, Series 2017 (Loughborough Commons Redevelopment Project) (the “Series 2017 Bonds”), pursuant to which certain TIF Revenues (as defined in the Financing Agreement) and CID Revenues (defined herein) will be assigned for the benefit of said Series 2017 Bonds; authorizing the City to execute certain other documents related thereto, including but not limited to any Continuing Disclosure Agreement, any Escrow Agreement, a Tax Compliance Agreement and any Credit Agreement (all as herein defined); authorizing and directing the taking of other actions as necessary and desirable to carry out and comply with the intent of this ordinance; and containing a severability clause.

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