HomeMy Public PortalAbout13857ORDINANCE NO. 13857
AN ORDINANCE, authorizing the Executive Director and Secretary-Treasurer
on behalf of The Metropolitan St. Louis Sewer District to enter into a Contractor Loan Fund
Agreement to offer a low interest loan program for M/WBE's involved in construction activities
as recommended in the Diversity Study and Community Benefits Agreement.
WHEREAS, said Agreement will allow the District to invest in a Contractor Loan
Fund up to an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00).
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 a Contractor
Loan Fund Agreement to offer a low interest loan program for M/WBE's in construction
activities for an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00).
Section Two. The Contractor Loan Fund Agreement authorized in Section One of
this ordinance shall be comprised of such terms and conditions as are approved by the Office of
General Counsel of the District.
The foregoing Ordinance was adopted on June 12, 2014.