Ordinance 71445

Summary

This Board Bill seeks to authorize submission to qualified electors a proposal for the issuance of up to fifty million ($50,000,000) of general obligation public improvement bonds. Utilizing the current property tax levy, there will be no tax increase. With an election due to be scheduled for a redistricting ballot measure in April 2022 there are no additional costs associated with this bill. If approved, funds raised from the subsequent issuance would be available to use for the following purposes: (1) resurfacing arterial streets and bridges, (2) design and construction of a Public Safety Answering Point (PSAP) a new state-of-the-art Emergency Operations Center combining Police, Fire, EMS, CEMA, and Citizen Service Bureau (3) design and construction of pedestrian and bicycle transportation facilities, (4) maintaining the safety and security of the jails and improving public safety (5) providing match share funds, where applicable and necessary, to utilize funds made available under the American Recuse Plan Act of 2021 and the Infrastructure Investment and Jobs Act of 2021 in furtherance of any of the cited projects herein and, (6) replacing, improving, renovating and maintaining buildings, bridges, and equipment of the City of St. Louis including neighborhood recreation centers and fire houses, and (7) for expenses associated with the issuance of the bonds. The City’s backlog of unmet infrastructure needs greatly exceed the amount of federal assistance expected by the City in the near future. These funds will enhance the City’s ability to provide matching grant funds to apply for competitive grants and offer the opportunity to begin design work in advance of future federal assistance and secure materials in an effort to mitigate project delays due to supply chain issues.

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