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HomeMy Public PortalAbout12296O R D I N A N C E NO. 12296 AN ORDINANCE, authorizing the Executive Director and Secretary- Treasurer on behalf of The Metropolitan St. Louis Sewer District to enter into contracts with A. G. Edwards, Banc of America Securities, Edward Jones, and Stifel Nicolaus whereby A. G. Edwards, Banc of America Securities, Edward Jones, and Stifel Nicolaus will serve as Bond Underwriters for the District. WHEREAS, the District has One Hundred Fourteen Million Two Hundred Five Thousand Dollars ($114,205,000.00) of debt authorization from the February, 2004 election available, and WHEREAS, the District seeks to utilize this debt to fund construction activity, and WHEREAS, the District seeks to assemble a financing team to underwrite the sole of both long-term debt and commercial paper, and WHEREAS, the District will seek MWBE participation in said financing team, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. The Executive Director and Secretary-Treasurer are hereby authorized on behalf of The Metropolitan St. Louis Sewer District to enter into contracts with A. G. Edwards, Banc of America Securities, Edward Jones, and Stifel Nicolaus whereby A. G. Edwards, Banc of America Securities, Edward Jones, and Stifel Nicolaus will serve as Bond Underwriters for the District. Section Two. A. G. Edwards will serve as Lead Investment Banker for any long-term debt issued within fiscal year 2006-2007, and Banc of America Securities will serve as the Lead Investment Banker for any commercial paper issuance. Section Three. Upon the selection of MWBE participants in the financing team, said MWBE participants will be named by Resolution as adopted by the Board of Trustees. Section Four. The contracts authorized in Section One of this ordinance shall be comprised of such terms and conditions as are approved by the office of the General Counsel of the District. The foregoing Ordinance was adopted September 14, 2006