HomeMy Public PortalAbout13068ORDINANCE NO. 13068
AN ORDINANCE authorizing repayment of a special assessment loan with the
Missouri Department of Natural Resources for the West-Watson & Nannell Sub-District
(99048).
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 West Watson Nannell Sub-district(99048) of the
Metropolitan St. Louis Sewer District desire to make certain additions, extensions and
improvements including the planning and acquisition activities,
WHEREAS, The District adopted Ordinance No. 11874 on October 14, 2004
which authorized a $535,600 loan from the Missouri Department of Natural Resources to fund
improvements in the West Watson & Nanell Sub-district(99048)., 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
($84,710.72),
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,
WHEREAS, The District adopted Ordinance No. 12190 on April 13, 2006 which
authorized a levy of a special benefit assessment tax against the homeowners in the West Watson
Nannell sub-district(99048) 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,
2014,
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 $85,000 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 West Watson & Nannell Sub-district(99048).
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.