HomeMy Public PortalAbout1599th Board Agenda 12-5-2017 SpecialPg 1
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AGENDA
1599th SPECIAL BOARD MEETING OF THE BOARD OF TRUSTEES
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
December 5, 2017 5:00 P.M. ROLL CALL & PUBLIC BOARD MEETING
MSD OFFICES
2350 MARKET STREET
ROOM 109
1 ROLL CALL
2 COMMENTS FROM THE PUBLIC
3 CONSENT AGENDA
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CONSENT AGENDA
ORDINANCES
4 Adoption of Proposed Ordinance No. 14835 - $200,000,000 Wastewater System
Improvement and Refunding Revenue Bonds Series 2017A (the “Series 2017A Bonds”)
AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND
DELIVERY OF WASTEWATER SYSTEM IMPROVEMENT AND REFUNDING
REVENUE BONDS, SERIES 2017A, 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.
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AGENDA ITEM NUMBER: Adoption of Ordinance No. 14835
NAME OF PROJECT: $200,000,000 Wastewater System Improvement and Refunding Revenue Bonds
Series 2017A (the “Series 2017A 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 2017A Bonds. What does action accomplish?: Ordinance authorizes the District to issue the Series 2017A Bonds and
authorizes District officials to execute necessary documents.
SUMMARY EXPLANATION/ BACKGROUND: Series 2017A Bonds represent the ninth and final issuance ($47.5M) of the
$945,000,000 of sewer revenue bonds approved by voters on June 5, 2012 and the first issuance of the $900,000,000 of sewer revenue bonds approved by the
voters on April 5, 2016. The Issuance will be approximately $200 million in new wastewater system improvement bonds with a possibility of refunding a portion of
the bonds originally issued in 2011, 2012, and 2013. Contractor: N/A Previous District Contract: Yes
Consultant: Public Financial Management Independent Public Advisors LLC. Gilmore & Bell, P.C. Cleveland, OH Johnston, IA St. Louis, MO
(Co-Municipal Advisor) (Co-Municipal Advisor) (Bond Counsel)
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: 21.89% 8.28%
Independent Public Advisors, LLC 8805 Chambery Blvd. Ste 300
Johnston, IA 50131 (Co-Municipal Advisor)
7.78%
White Coleman & Associates LLC 500 N. Broadway, Ste 1300
St. Louis, MO 63102 (Co-Bond Counsel)
5.83%
Richard G. Hughes & Associates, LLC 4144 Lindell Blvd., Suite 221
St. Louis, Mo. 63108 (Co-Underwriter’s 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: 2017-2018 Amount: $966,000 (estimated costs of issuance excluding underwriting discount)
Fund Name: Series 2017A Cost of Issuance Account Additional Comments: Estimated Costs of Issuance of the Series 2017A Bonds, which will be paid from the proceeds of the Series 2017A Bonds, include $272,000 in rating agency fees. The MWBE participation is based on the remaining
$694,000 in anticipated costs.
PREVIOUS BOARD ACTION RELATED TO THIS ACTION: 4/22/2004 Ordinance 11713 Established Master Bond Ordinance