HomeMy Public PortalAbout14228ORDINANCE NO. 14228
AN ORDINANCE designating the underwriting team for an issue of Wastewater
System Revenue Bonds, Series 2015B 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 and Ordinance No. 13522 passed by the Board of Trustees of the
District on October 11, 2012, the District designated a pool of qualified national, local and
MWBE underwriting firms (the “Underwriting Pool”) to execute and provide the lowest cost of
finance for the Bonds; and
WHEREAS, the District desires to proceed with the issuance of Wastewater
System Revenue Bonds, Series 2015B (the “Series 2015B 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 firms Wells Fargo Securities (the Series “2015B Senior
Manager”), Bank of America Merrill Lynch (the Series “2015B Co-Senior Manager”), and
Morgan Stanley, George K Baum & Company, Siebert Brandford Shank & Co., LLC, Stern
Brothers & CO, Valdes & Moreno collectively, (the “Series 2015B Co-Managers”) are hereby
designated as the underwriters of the Series 2015B Bonds. The District’s MWBE goals will be
met by said team of underwriters.
Section Two. The Executive Director and Secretary-Treasurer are hereby
authorized on behalf of the District to enter into an agreement with the Series 2015B Senior
Manager designating the respective roles of the Senior Manager and the Series 2015B Co-
Managers, which agreement shall contain such terms and provisions as are approved by the
Office of the General Counsel of the District.
This foregoing ordinance was adopted September 10, 2015.