HomeMy Public PortalAbout11423ORDINANCE NO. 11423
AN ORDINANCE CALLING A BOND ELECTION TO BE HELD
ON APRIL 8, 2003 IN THE METROPOLITAN ST. LOUIS SEWER
DISTRICT ON THE PROPOSITION WHETHER TO ISSUE
$500,000,000 PRINCIPAL AMOUNT OF SEWER REVENUE
BONDS, WITH AN EMERGENCY CLAUSE
WHEREAS, Section 7.170 of the Charter (the "Charter") of The Metropolitan St. Louis Sewer
District (the "District") authorizes the District to issue District-wide revenue bonds with the assent of a
simple majority of the voters of the District; and
WHEREAS, the Rate Commission of The Metropolitan St. Louis Sewer District (the "Rate
Commission"), being duly established by the Board of Trustees of the District pursuant to Section 7.040
of the Charter, issued its Rate Recommendation Report dated October 25, 2002 (the "Rate Commission
Report") recommending that the District submit for approval by the voters of the District a proposition
authorizing the issuance of $500,000,000 aggregate principal amount of revenue bonds to pay the cost of
a Capital Improvement Program (as defined in the Rate Commission Report); and
WHEREAS, notwithstanding the recommendation of the Rate Commission, the Board of
Trustees of the District has independently determined that the District should submit such a bond issue for
approval by the voters of the District; and
WHEREAS, the Board of Trustees of the District, after due deliberation and consideration of the
Rate Commission Report, and independent of said Rate Commission Report, has determined that it is
necessary and in the best interest of the District that an election be held in the District on April 8, 2003 on
the proposition set forth below;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section 1. The Board of Trustees of the District finds it necessary and hereby declares its
intent to borrow $500,000,000 for the purpose of constructing, improving, renovating, repairing,
replacing and equipping new and existing MSD sewer facilities and system, including sewer disposal and
treatment plants, sanitary interceptor sewers and acquisition of easements related thereto, and to evidence
such borrowing by the issuance of sewer system revenue bonds of the District in the amount of
$500,000,000.
Section 2. A special election is hereby ordered to be held in the District on Tuesday,
April 8, 2003, for the purpose of submitting the following proposition to the qualified voters of the
District:
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PROPOSITION MSD
To comply with federal and state clean water requirements, shall
The Metropolitan St. Louis Sewer District (MSD) issue its sewer
system revenue bonds in the amount of Five Hundred Million
Dollars ($500,000,000) for the purpose of constructing, improving,
renovating, repairing, replacing and equipping new and existing
MSD sewer facilities and system, including sewer disposal and
treatment plants, sanitary interceptor sewers and acquisition of
easements and real property related thereto, the cost of operation
and maintenance of said sewer system and the principal of and
interest on said revenue bonds to be payable solely from the
revenues derived by MSD from the operation of its sewer system,
including all future extensions and improvements thereto?
The authorization of said bonds will authorize the District to fix, establish, maintain and collect
rates and charges for the services provided by the District through its sewer system, including all
extensions and improvements thereto hereafter constructed or acquired by the District, in addition to the
other rates and charges for such services provided by law, as will produce income and revenues sufficient
to provide funds to pay the costs of operation and maintenance of said sewer system and the principal of
and interest on said bonds as they become due, and to provide for the establishment of reasonable reserves
therefor.
Section 3. The form of the Notice of Bond Election for said special election, a copy of
which is attached hereto as Exhibit A and incorporated herein by reference, is hereby approved.
Section 4. The Secretary-Treasurer of the Board of Trustees is hereby authorized and
directed to notify the Board of Election Commissioners of the City of St. Louis, Missouri and the Board
of Election Commissioners of St. Louis County, Missouri of the adoption of this Ordinance no later than
5:00 p.m. on January 28, 2003, and to include in said notification all of the terms and provisions required
by the Comprehensive Election Act, Chapter 115 of the Revised Statutes of Missouri, as amended, and by
Section 10.010 of the Charter.
Section 5. The election hereinabove ordered to be held on April 8, 2003 is necessary for the
issuance of revenue bonds to fund the District's Capital Improvement Program in order to preserve the
public health and welfare and must proceed immediately, thus creating an emergency within the meaning
of the Charter. The revenue bond proposition must be on the ballot on April 8, 2003 and without this
emergency clause the revenue bond proposition could not be certified to the Board of Election
Commissioners of the City of St. Louis, Missouri and to the Board of Election Commissioners of
St. Louis County, Missouri by their deadline of January 28, 2003. Failure to hold the election on April 8,
2003 would jeopardize the construction of wastewater facilities and operational funds necessary to protect
the health and welfare of the District's customers. Accordingly, this ordinance shall take effect
immediately upon its enactment.
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The foregoing Ordinance was adopted January 23, 2003 by the following vote –
Ayes – C.D. Seward, A.J. Soukenik, T.W. Purcell, M.C. Williams, and J.M. Swartz.
Nays – None.
Secretary-Treasurer
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EXHIBIT A
NOTICE OF BOND ELECTION
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
Notice is hereby given to the qualified voters of The Metropolitan St. Louis Sewer District, that
the Board of Trustees of the District has called a special election to be held in the District on Tuesday,
April 8, 2003, commencing at 6:00 a.m. and closing at 7:00 p.m., on the proposition contained in the
following sample ballot:
OFFICIAL BALLOT
SPECIAL BOND ELECTION
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
APRIL 8, 2003
PROPOSITION MSD
To comply with federal and state clean water requirements, shall
The Metropolitan St. Louis Sewer District (MSD) issue its sewer
system revenue bonds in the amount of Five Hundred Million
Dollars ($500,000,000) for the purpose of constructing, improving,
renovating, repairing, replacing and equipping new and existing
MSD sewer facilities and system, including sewer disposal and
treatment plants, sanitary interceptor sewers and acquisition of
easements and real property related thereto, the cost of operation
and maintenance of said sewer system and the principal of and
interest on said revenue bonds to be payable solely from the
revenues derived by MSD from the operation of its sewer system,
including all future extensions and improvements thereto?
YES
NO
INSTRUCTIONS TO VOTERS: If you are in favor of the proposition, place
an X in the box opposite "YES." If you are opposed to the proposition, place an X in the
box opposite "NO."
The authorization of said bonds will authorize the District to fix, establish, maintain and collect
rates and charges for the services provided by the District through its sewer system, including all
extensions and improvements thereto hereafter constructed or acquired by the District, in addition to the
other rates and charges for such services provided by law, as will produce income and revenues sufficient
to provide funds to pay the costs of operation and maintenance of said sewer system and the principal of
and interest on said bonds as they become due, and to provide for the establishment of reasonable reserves
therefor.
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The election will be held at the following polling places in The Metropolitan St. Louis Sewer
District:
PRECINCT POLLING PLACE
_________________________ ______________________
_________________________ ______________________
DATED THIS _____ DAY OF ____________, 2003.
BOARD OF ELECTION COMMISSIONERS
OF THE CITY OF ST. LOUIS, MISSOURI
By:
BOARD OF ELECTION COMMISSIONERS
OF ST. LOUIS COUNTY, MISSOURI
By: