Ordinance 70810

Summary

An ordinance recommended and approved by the Airport Commission, the Comptroller and the Board of Estimate and Apportionment, making certain findings with respect to the transfer of up to Three Million Dollars ($3,000,000) of excess moneys that The City of St. Louis (the “City”), the owner and operator of St. Louis Lambert International Airport® (the “Airport”), intends to transfer from the Debt Service Stabilization Fund (the “DSSF”) to the Airport Development Fund (the “Airport Development Fund”) in accordance with Section 516.B of the Lambert-St. Louis International Airport 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, as amended and supplemented (the “Indenture”); authorizing a transfer in an amount not to exceed Three Million Dollars ($3,000,000) from the DSSF into the Airport Development Fund during the fiscal year beginning July 1, 2018, for the purpose of making funds available to address Coldwater Creek Emergency Repairs Phase 2 – Installation of Two 12 Foot BY 12 Foot Reinforced Concrete Box Culverts and the Restoration of the Charlie Pad Aircraft Ramp, Glycol Recovery System, Ramp Edge Lighting System, and Associated Impacted Improvements; containing a severability clause; and containing an emergency clause.

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