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HomeMy Public PortalAbout13067ORDINANCE NO. 13067 AN ORDINANCE authorizing repayment of a special assessment loan with the Missouri Department of Natural Resources for the Ozark and Table Rock Sub-District (91112). WHEREAS, The Metropolitan St. Louis Sewer District (the “District”), a body corporate, a municipal corporation and a political subdivision duly organized and existing under the Constitution and laws of the State of Missouri and the District’s Charter (Plan), as amended, approved by the voters for its government (the “Charter”), owns and operates a revenue producing sanitary sewer system, WHEREAS, The residents of the Ozark and Table Rock Sub-district of the Metropolitan St. Louis Sewer District desire to make certain additions, extensions and improvements including the planning and acquisition activities, and WHEREAS, The District adopted Ordinance No. 11638 on December 11, 2003 which authorized a $374,680 loan from the Missouri Department of Natural Resources to fund improvements in the Ozark and Table Rock Sub-district (91112), and this loan including interest at the rate of 1.5% per annum is to be repaid on May 1, 2010 for a total repayment of ($55,381.83), and WHEREAS, in the absence of pass through financing from the Missouri Department of Natural Resources, the District traditionally has funded construction activity for this type of sub-district from the Improvement Fund, and WHEREAS, The District adopted Ordinance No. 11637 on December 11, 2003 which authorized a levy of a special benefit assessment tax against the homeowners in the Ozark and Table Rock sub-district (91112) the District will continue to levy said tax on an annual basis for the remaining term of the installment repayment option offered to the homeowners, November 1, 2013, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One: The Board of Trustees hereby appropriates the sum of $56,000 from the Improvement Fund for the purpose of repaying the outstanding loan, interest and any incidental costs associated for the loan with the Missouri Department of Natural Resources for the Ozark and Table Rock Sub-district. Section Two: This Ordinance shall be governed by and construed and enforced in accordance with the laws of the State and the Charter. Section Three: This ordinance, being an appropriation ordinance, shall take effect immediately upon its enactment. The foregoing Ordinance was adopted April 8, 2010.