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ORDINANCE NO. 13522
AN ORDINANCE, designating an additional firm to the pool of underwriting
firms for Nine Hundred Forty Five Million Dollars ($945,000,000.00) principal amount of
Wastewater System Revenue Bonds of The Metropolitan St. Louis Sewer District, approved by
the voters on June 5, 2012, and designating the underwriting team for the remaining Seven
Hundred Twenty Million Dollars ($720,000,000.00) principal amount of Wastewater System
Revenue Bonds of The Metropolitan St. Louis Sewer District.
WHEREAS, in order to fund improvements to meet federal and state clean water
laws and regulations and as set forth in a Consent Decree with the United States Environmental
Protection Agency and the Coalition for the Environment, The Metropolitan St. Louis Sewer
District (the “District”) submitted to the voters of the District on June 5, 2012 a proposition to
issue Nine Hundred Forty Five Million Dollars ($945,000,000.00) principal amount of sewer
revenue bonds (together with any refunding revenue bonds of the District, the “Bonds”), which
proposition was approved by more than a majority of the voters voting thereon; and
WHEREAS, by Ordinance No. 13467 passed by the Board of Trustees of the
District on July 12, 2012, the District designated a pool of qualified national, local and MWBE
underwriting firms (the “Initial Underwriting Pool”) to execute and provide the lowest cost of
finance for the Bonds; and
WHEREAS, the District desires to add the firm of Barclays Capital to the pool of
designated underwriting firms (Barclays Capital, together with the Initial Underwriting Pool, the
“Underwriting Pool”); and
WHEREAS, the District desires to proceed with the issuance of the remaining
Seven Hundred Twenty Million Dollars ($720,000,000.00) principal amount of Wastewater
System Revenue Bonds, and to designate the underwriters thereof selected from the
Underwriting Pool;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF
THE METROPOLITAN ST. LOUIS SEWER DISTRICT, AS FOLLOWS:
Section One. The firm of Barclays Capital, together with the firms designated as
members of the Initial Underwriting Pool (consisting of Bank of America Merrill Lynch,
Backstrom McCarley Berry & Co., LLC, Edward D. Jones & Co., L.P., George K. Baum &
Company, J.P. Morgan Securities LLC, Morgan Stanley, Siebert Brandford Shank & Co., LLC,
Stern Brothers & Co., Stifel, Nicolaus & Company, Incorporated, Valdes & Moreno and Wells
Fargo Securities) hereby constitute the Underwriting Pool from which the underwriters of each
particular series of Bonds issued from time to time will be chosen.
Section Two. The firms of Siebert Brandford Shank & Co., LLC and J.P. Morgan
Securities LLC (together the “Series 2012B Co-Senior Managers”), and Backstrom McCarley
Berry & Co., LLC, George K. Baum & Company, Morgan Stanley and Wells Fargo Securities
(collectively, the “Series 2012B Co-Managers”) are hereby designated as the underwriters of the
Series 2012B Bonds. The District's MWBE goals will be met by said team of underwriters.
Section Three. The Executive Director and Secretary-Treasurer are hereby
authorized on behalf of the District to enter into an agreement with the Series 2012B Co-Senior
Managers designating the respective roles of the Co-Senior Managers and the Series 2012B Co-
Managers, which agreement shall contain such terms and provisions as are approved by the
Office of the General Counsel of the District.
Section Four. In order to take advantage of historic low interest rates and thereby
achieve greater savings to the District through the issuance of the Series 2012B Bonds, this
Ordinance must be implemented without delay, thus creating an emergency within the meaning
of the District's Charter. Accordingly, this Ordinance shall take effect immediately upon its
enactment.
The foregoing Ordinance was adopted October 11, 2012.