HomeMy Public PortalAbout15284 2019 Bond Financing Team OrdinanceORDINANCE NO. 15284
AN ORDINANCE, designating the underwriting team for an issue of Wastewater
System Revenue and Refunding Bonds, Series 2019B and 2019C 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 April 5, 2016 a proposition to
issue Nine Hundred Million Dollars ($900,000,000.00) 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;
WHEREAS, by Ordinance No. 14636 passed by the Board of Trustees of the
District on April 13, 2017, 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 and Refunding Bonds, Series 2019B and 2019C (the “Series 2019B and 2019C
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 Citigroup Global Markets Inc. (the “Series 2019B and
2019C Senior Manager”), Barclays Capital (the “Series 2019B and 2019C Co-Senior Manager”),
and Raymond James, Stern Brothers & Co., Morgan Stanley, Fidelity Capital Markets and Loop
Capital Markets collectively, (the “Series 2019B and 2019C Co-Managers”) are hereby
designated as the underwriters of the Series 2019B and 2019C 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 2019B and 2019C
Senior Manager designating the respective roles of the Senior Manager and the Series 2019B and
2019C 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 on October 10, 2019.