HomeMy Public PortalAbout1541st Board Agenda 12-6-2013
A G E N D A
1541st SPECIAL MEETING OF THE BOARD OF TRUSTEES
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
December 6, 2013 – 10:45 A.M.
MSD OFFICES
2350 MARKET STREET ROOM 109
ROLL CALL
1 COMMENTS BY THE CHAIR
2 COMMENTS FROM THE PUBLIC
3 CONSENT AGENDA – None
4 NEW BUSINESS - Item No. 5
2 of 12/6/13
New Business Agenda Item Number Name Page Number
Ordinances
5 – Proposed Ord. No. 13763 Wastewater System Revenue Bonds 3 Series 2013B
Introduction and adoption of proposed Ord. No. 13763 repealing Ordinance No. 13743
and enacting in lieu thereof an ordinance authorizing and directing the issuance, sale and delivery of Wastewater System Revenue Bonds, Series 2013B, of The Metropolitan St. Louis Sewer District; prescribing the form and details of said bonds; and authorizing
certain actions and documents and prescribing other matters relating thereto.
6 CLOSED SESSION
The Metropolitan St. Louis Sewer District Board of Trustees may go into closed
session at this meeting if such action is approved by a majority vote of the Board
members who constitute a quorum, to discuss legal, confidential, or privileged matters under §610.021(1), RSMo 1988 Supp.; leasing, purchase or sale of real
estate under §610.021(2); personnel actions under §610.021(3); discussions
regarding negotiations with employee groups under §610.021(9); personnel
records or applications under §610.021(13); or records under §610.021(14)
which are otherwise protected from disclosure by law; or confidential or privileged communications with the District’s auditor, including auditor work
products under §610.021(17).
7 ADJOURNMENT
3 of 12/6/13
AGENDA ITEM NUMBER: 5 – Proposed Ord. No. 13763
NAME OF PROJECT: $150,000,000 Wastewater System Revenue Bonds Series 2013B (the “Series 2013B Bonds”) LOCATION: District-Wide
TYPE OF PROJECT: Capital Project Financing
DEPARTMENT REQUESTING ACTION: Secretary-Treasurer
REQUESTED ACTION:
Why is this action necessary?: Board authorization is required for the District to issue the Series 2013B Bonds. What does action accomplish?: Ordinance authorizes the District to issue the Series 2013B Bonds and
authorizes District officials to execute necessary documents.
SUMMARY EXPLANATION/BACKGROUND: Series 2013B Bonds represent the third issuance of the $945,000,000 of sewer revenue bonds approved by voters on June 5, 2012
Contractor: N/A Previous District Contract: Yes
Consultant: Public Financial Management (Financial Advisor) Gilmore & Bell, P.C. (Bond Counsel)
801 Grand Avenue, Suite 3300 211 N. Broadway, Suite 2350 Des Moines, IA 50309 St. Louis, MO 63102
Agency: N/A
Number of bidders: N/A Low Bid: N/A High Bid: N/A
Appropriation Amount: N/A District’s Estimate: N/A MBE/WBE Participation: 32.6% 8.0% Independent Public Advisors, LLC 17.8% Hardwick Law Firm, LLC 6.8% White Coleman & Assoc., LLC
8805 Chambery Blvd. Ste 300 Traders on Grand Building 500 North Broadway, Ste 1300 Johnston, IA 50131 1125 Grand, Suite 915 St. Louis, MO 63102-2110
(Co-Financial Advisor) Kansas City, MO 64106 (Co-Bond Counsel) (Disclosure Counsel)
Plan Approval Date: N/A Type of Contract: Bond Contract
Properties Affected: District-wide Properties Benefitting: District-wide
Designed by: N/A
FUNDING/COST SUMMARY:
Budgeted: Bond Issue Budget Year: 2013-2014 Amount: $831,000 (estimated costs of issuance
excluding underwriting discount) Fund Name: Series 2013B Cost of Issuance Account
Additional Comments: Estimated Costs of Issuance of the Series 2013B Bonds, which will be paid from the proceeds of the Series 2013B Bonds, include $230,000 in rating agency fees. The MWBE participation is based on the remaining
$601,000 in anticipated costs. Repealing Ordinance No. 13743 and enacting a new ordinance to include pricing of 2013B Revenue Bonds.
PREVIOUS BOARD ACTION RELATED TO THIS ACTION:
10/10/2013 – Ord. No. 13743 – Series 2013A for Public I/I Reduction Program Phase I and MO River Treatment Plant Expansion & Disinfection
08/09/2012 Ordinance No. 13465 Wastewater System Revenue Bonds Series 2012A 4/22/2004 Ordinance 11713 Established Master Bond Ordinance