HomeMy Public PortalAboutORD15725 BILL NO. 2017-68
SPONSORED BY Councilman Henry
ORDINANCE NO.
AN ORDINANCE AMENDING ORDINANCE NO.15039 AUTHORIZING THE ISSUANCE OF
NOT TO EXCEED $15,000,000 PRINCIPAL AMOUNT OF SEWERAGE SYSTEM REVENUE
BONDS (STATE OF MISSOURI — DIRECT LOAN PROGRAM) SERIES 2012 OF THE CITY OF
JEFFERSON, MISSOURI.
WHEREAS, pursuant to Ordinance No. 15039 passed by the City Council on November 5,
2012, the City authorized the issuance of not to exceed $15,000,000 principal
amount of Sewerage System Revenue Bonds (State of Missouri — Direct Loan
Program) Series 2012 (the "Bonds"); and
WHEREAS, the City Council hereby finds it necessary, desirable and in the best interest of the
City to amend certain provisions of Ordinance No.15039.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF JEFFERSON,
MISSOURI, AS FOLLOWS:
Section 1. Section 101 of Ordinance No. 15039 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 City'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 2. Except as otherwise amended by this Ordinance, all provisions of Ordinance
No. 15039 are hereby ratified, approved and confirmed.
Section 3. This Ordinance shall be in full force and effect immediately after its adoption
by the City Council and approval by the Mayor. /
Passed: y, Approved: 4l �D
Presiding Officer.- Mayor Carrie Tergin
ATTEST: - ` APPROVED AS TO FORM:
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