HomeMy Public PortalAbout14795 SRF Fee Reduction Amendment - Subordinate Wastewater System Revenue Bonds Series 2010CORDINANCE NO. 14795
AN ORDINANCE, amending Ordinance No. 13183, adopted December 2, 2010,
authorizing the issuance of not to exceed $37,000,000 principal amount of Subordinate
Wastewater System Revenue Bonds, (State of Missouri – Direct Loan Program) Series 2010C of
The Metropolitan St. Louis Sewer District.
WHEREAS, Ordinance No. 13183, adopted December 2, 2010, authorized the
issuance of not to exceed $37,000,000 principal amount of Subordinate Wastewater System
Revenue Bonds (State of Missouri – Direct Loan Program) Series 2010C (the “Bonds”); and
WHEREAS, the Board of Trustees hereby finds it necessary, desirable and in the
best interest of the District to amend certain provisions of Ordinance No. 13183.
NOW, THEREFORE, BE IT ORDAINED BY THE Board of Trustees OF THE
Metropolitan St. Louis Sewer District, AS FOLLOWS:
Section One. Section 101 of Ordinance No. 13183 is hereby amended by deleting
the existing definition of “Administrative Fee” and inserting the following in substitution
thereof:
“Administrative Fee” means (a) for the period from the Closing Date to
December 31, 2017, the semiannual administrative fee of DNR equal to 0.50% of
the aggregate amount of the Bonds Outstanding as of each Administrative Fee
Calculation Date and (b) for the period from January 1, 2018 and thereafter, the
semiannual administrative fee of DNR equal to 0.25% of the aggregate amount of
the Bonds Outstanding as of each Administrative Fee Calculation Date (including
the final maturity date of the Bonds) payable to the Paying Agent within 30 days
after the District’s receipt of a statement from the Paying Agent for deposit to the
Administrative Expense Fund and subsequent transfers to DNR as described in
Section 9 of the Escrow Agreement.”
Section Two. Except as otherwise amended by this Ordinance, all provisions of
Ordinance 13183 are hereby ratified, approved and confirmed.
NOTICE OF MEETING
Public notice is hereby given that a meeting of the Board of Trustees of the Metropolitan St.
Louis Sewer District, will be held in Room 109 at 2350 Market Street, in St. Louis, Missouri, on
_______________________________, 2017, at _________ ___.m., to consider and act upon the matters
on the following tentative agenda and such other matters as may be presented at the meeting and
determined to be appropriate for discussion at that time.
1. AN ORDINANCE AMENDING ORDINANCE NO. 13183 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $37,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2010C OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
2. AN ORDINANCE AMENDING ORDINANCE NO. 13327 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $39,769,300 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2011A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
3. AN ORDINANCE AMENDING ORDINANCE NO. 13731 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $52,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2013A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
4. AN ORDINANCE AMENDING ORDINANCE NO. 14225 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $75,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2015A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
5. AN ORDINANCE AMENDING ORDINANCE NO. 14571 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $20,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2016A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
6. AN ORDINANCE AMENDING ORDINANCE NO. 14572 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $75,500,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2016B OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
7. Other matters.
Copies of all Ordinances proposed to be introduced for consideration by the Board of Trustees at
the meeting are available for public inspection at the office of the Secretary-Treasurer.
The meeting will be open to the public.
DATED: __________________________, 2017.
TIM R. SNOKE
Secretary-Treasurer
CERTIFICATE REGARDING NOTICE OF MEETING
I, the undersigned, certify that (1) the attached notice of meeting of the Board of Trustees of the
Metropolitan St. Louis Sewer District, held on _______________________________, 2017, was posted
at least 24 hours (excluding weekends and holidays) prior to the commencement of the meeting on a
bulletin board or other prominent place which is easily accessible to the public and clearly designated for
posting notices at the principal office and meeting place of the Board of Trustees, and was made available
at least 24 hours (excluding weekends and holidays) prior to the commencement of said meeting to any
representative of the news media who requested notice of the meeting, and (2) copies of all proposed
Ordinances introduced for consideration by the Board of Trustees at said meeting were made available for
public inspection at the office of the Secretary-Treasurer prior to the time of said meeting.
Dated: _______________________________, 2017.
_________________________________
Secretary-Treasurer
The foregoing ordinance was adopted on October 12, 2017.
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EXCERPT OF MINUTES OF MEETING
The Board of Trustees of the Metropolitan St. Louis Sewer District, met on
_______________________________, 2017, at _________ ___.m. in Room 109 at 2350 Market Street,
in St. Louis, Missouri. The following officers were present or absent as indicated:
Name/Title Present/Absent
James Faul, Chair _____________
Rev. Ronald Bobo, Vice Chair _____________
Ruby Bonner, Trustee _____________
Annette Mandel, Trustee _____________
Michael Yates, Trustee _____________
James I. Singer, Trustee _____________
The Chair declared that a quorum was present and called the meeting to order.
* * * * (Other Proceedings) * * * *
The matter of amending Ordinance No. 13183 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 13183 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $37,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2010C OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
Thereupon, the matter of amending Ordinance No. 13327 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 13327 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $39,769,300 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2011A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
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Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
Thereupon, the matter of amending Ordinance No. 13731 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 13731 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $52,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2013A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
Thereupon, the matter of amending Ordinance No. 14225 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 14225 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $75,000,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2015A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
Thereupon, the matter of amending Ordinance No. 14571 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 14571 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $20,000,000 PRINCIPAL AMOUNT OF
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SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2016A OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
Thereupon, the matter of amending Ordinance No. 14572 came on for consideration. Trustee
________________ moved and Trustee ______________ seconded for the second reading and passage of
proposed Ordinance No. ___________ entitled as follows:
AN ORDINANCE AMENDING ORDINANCE NO. 14572 AUTHORIZING THE
ISSUANCE OF NOT TO EXCEED $75,500,000 PRINCIPAL AMOUNT OF
SUBORDINATE WASTEWATER SYSTEM REVENUE BONDS (STATE OF
MISSOURI – DIRECT LOAN PROGRAM) SERIES 2016B OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT.
Motion passed - _________ ayes, and __________ nays.
Poll Taken: J. Faul _________ A. Mandel _________
R. Bobo _________ M. Yates _________
R. Bonner _________ J. Singer _________
The Chair declared proposed Ordinance No. __________ adopted and it was assigned Ordinance
No. ___________.
* * * * (Other Proceedings) * * * *
There being no other business to come before the meeting, on motion duly made, seconded, and
carried, the meeting was adjourned.
(Seal) Secretary-Treasurer
[FORM OF OPINION OF PROGRAM BOND COUNSEL]
_____________________, 2017
Metropolitan St. Louis Sewer District
Missouri Department of Natural Resources
Jefferson City, Missouri
UMB Bank, N.A., as Paying Agent
St. Louis, Missouri
RE: Subordinate Wastewater System Revenue Bonds (State of Missouri – Direct Loan
Program) Series 2010C of the Metropolitan St. Louis Sewer District
Ladies and Gentlemen:
The above-captioned bonds (the “Bonds”) have been issued pursuant to Ordinance No. 13183
(the “Bond Ordinance”) adopted on December 9, 2010 by the Board of Trustees of Metropolitan St. Louis
Sewer District (the “District”). Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to such terms in the Bond Ordinance.
On _______________________________, 2017, the Board of Trustees of the District, with the
consent of the Missouri Department of Natural Resources, approved Ordinance No. ___________ (the
“Amending Ordinance”) amending the Bond Ordinance to provide for the reduction of the semiannual
administrative fee of the Missouri Department of Natural Resources charged in connection with the
Bonds. Section 1101 of the Bond Ordinance provides that before any amendment to the Bond Ordinance
becomes effective there shall have been delivered to the Owners and the Paying Agent an opinion of
Bond Counsel stating that the amendment is permitted by the Bond Ordinance and the Act, complies with
their respective terms and is valid and binding upon the District in accordance with its terms.
We have examined the Bond Ordinance, the Amending Ordinance, and such other certificates and
proceedings as we deem appropriate in connection with this opinion, including the written consent of the
Missouri Department of Natural Resources. Based upon the foregoing, we are of the opinion as of the
date hereof that the amendment of the Bond Ordinance by the Amending Ordinance is permitted by the
Bond Ordinance and the Act complies with their respective terms, and the Bond Ordinance, as amended
by the Amending Ordinance, will be valid and binding upon the District in accordance with its terms.
This opinion is limited solely to the matters set forth herein and no other opinion is to be inferred
or implied from this opinion. This opinion may not be used or relied upon by or published or
communicated to any other party for any purpose whatsoever without our prior written approval in each
instance.
Very truly yours,
SWC/mas