HomeMy Public PortalAbout1571st Board Agenda 12-1-2015 Special1
Revised: 11/25/2015 12:04 PM
AGENDA
1571st MEETING OF THE BOARD OF TRUSTEES
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
December 1, 2015
3:30 P.M. SPECIAL PUBLIC BOARD MEETING
MSD OFFICES
2350 MARKET STREET
ROOM 109
1 ROLL CALL
2 REPORT OF EXECUTIVE DIRECTOR
3 COMMENTS FROM THE PUBLIC
4 CONSENT AGENDA – 5
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Revised: 11/25/2015 12:04 PM
CONSENT AGENDA
ORDINANCES
5 PROPOSED ORDINANCE NO. 14312 WASTEWATER SYSTEM IMPROVEMENT AND
REFUNDING REVENUE BONDS, SERIES 2015B
INTRODUCTION AND ADOPTION OF AN ORDINANCE, authorizing and directing the
issuance, sale, and delivery of Wastewater System Improvement and Refunding
Revenue Bonds, Series 2015B, of The District; prescribing the form and details of said
bonds; and authoring certain actions and documents and prescribing other matters
relating thereto.
6 ANY OTHER BUSINESS THAT MAY PROPERLY BE BROUGHT BEFORE THE
BOARD
7 ADJOURNMENT
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AGENDA ITEM NUMBER: Proposed Ord. No. 14312
NAME OF PROJECT: $240,000,000 Wastewater System Improvement and Refunding Revenue Bonds Series 2015B
(the “Series 2015B 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 2015B Bonds.
What does action accomplish? Ordinance authorizes the District to issue the Series 2015B Bonds and
authorizes District officials to execute necessary documents.
SUMMARY EXPLANATION/BACKGROUND: Series 2015B Bonds represent the fifth issuance of the $945,000,000 of
sewer revenue bonds approved by voters on June 5, 2012. The Issuance
will be $150 million in new wastewater system improvement bonds and up
to $90 million in refunding revenue bonds (replacing bonds issued in 2006
and 2008)
Contractor: N/A Previous District Contract: Yes
Consultant: Public Financial Management Gilmore & Bell, P.C.
Plaza South One 211 N. Broadway, Suite 2350
7251 Engle Rd. Ste 115 St. Louis, MO 63102
Cleveland OH 44130 (Bond Counsel)
(Financial Advisor)
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: 35.33%
7.52%
Independent Public
Advisors, LLC
8805 Chambery Blvd. Ste
300
Johnston, IA 50131
(Co-Financial Advisor)
13.66%
Hardwick Law Firm, LLC
1125 Grand, Suite 915
Kansas City, MO 64106
(Disclosure Counsel)
8.09%
White Coleman & Associates
LLC
500 N. Broadway, Ste 1300
St. Louis, MO 63102
(Co-Bond Counsel)
6.07%
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: 2015-2016 Amount: $1,050,093 (estimated costs of issuance
excluding underwriting discount)
Fund Name: Series 2015B Cost of Issuance Account
Additional Comments: Estimated Costs of Issuance of the Series 2015B Bonds, which will be paid from the proceeds of
the Series 2015B Bonds, include $272,000 in rating agency fees. The MWBE participation is based on the remaining
$778,000 in anticipated costs.
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Revised: 11/25/2015 12:04 PM
PREVIOUS BOARD ACTION RELATED TO THIS ACTION:
12/06/2013 Ordinance No. 13763 Wastewater System Revenue Bonds Series 2013B
8/09/2012 Ordinance No. 13465 Wastewater System Revenue Bonds Series 2012A
4/22/2004 Ordinance 11713 Established Master Bond Ordinance