HomeMy Public PortalAbout00501REPEALED - SEE ORDINANCE NO. 590 O R D I N A N C E NO. 501
AN ORDINANCE directing the issuance of Four Million,
Seven Hundred Fifty Thousand Dollars ($4,750,000) General
Obligation Sewer Bonds of the Gravois Creek Trunk Subdistrict of
The Metropolitan St. Louis Sewer District, in the State of
Missouri, authorized at a special election held in said Sub-
district on the 30th day of August, 1960; setting out the form of
said bonds and the interest coupons to be attached thereto,
determining the maximum rate of interest, maturities, and making
provision for designating the place of payment thereof, and making
provision for the levy of a tax sufficient to pay the interest on
said bonds as it accrues and to pay the principal thereof at
maturity.
WHEREAS, The Metropolitan St. Louis Sewer District was
created pursuant to a Plan adopted by the voters of the City of
St. Louis and of St. Louis County, Missouri, at a special election
held on Tuesday, the 9th day of February, 1954, all as provided
and authorized by Sections 30(a) and 30(b) of Article VI of the
Constitution of the State of Missouri; and
WHEREAS, thereafter, proceeding under the authority of
the aforesaid Plan, the Board of Trustees of The Metropolitan St.
Louis Sewer District, pursuant to proceedings theretofore duly
and lawfully had in accordance with the provisions of the said
Plan, by Ordinance No. 425, adopted on the 14th day of July, 1960,
did create the Gravois Creek Trunk Subdistrict of The Metropolitan
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St. Louis Sewer District; and
WHEREAS, thereafter, by Ordinance No. 434, adopted on
the 28th day of July, 1960, the Board of Trustees of The Metro-
politan St. Louis Sewer District did call and provide for the
holding of a special election in the said Gravois Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District for the
purpose of submitting to the qualified electors of said
Subdistrict the following proposition, to-wit:
PROPOSITION "Shall the general obligation bonds of the Gravois Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer District be issued in the amount of Four Million Seven Hundred Fifty Thousand ($4,750,000.00) Dollars to provide funds for the purpose of constructing a sanitary trunk sewer system within and for said Subdistrict, including all expenses necessarily incidental thereto?'' and
WHEREAS, due and regular notice of said special
election was given as directed by the aforesaid Ordinance No. 434
and as required by the Plan of The Metropolitan St. Louis Sewer
District, by publication once a week for at least three (3)
consecutive weeks in The St. Louis Globe-Democrat and in The St.
Louis Post-Dispatch, newspapers of general circulation in The
Metropolitan St. Louis Sewer District and qualified to publish
legal notices; said notice having been published in each of said
newspapers on the 8th, 15th, 22nd and 29th days of August, 1960,
the first publication in each of said newspapers having been made
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at least twenty-one (21) days prior to the date of the election
and the last publication in each of said newspapers having been
made not more than seven (7) days prior to the date of said
election, all as shown by the publisher's affidavits now on file
in the office of the Secretary-Treasurer of The Metropolitan St.
Louis Sewer District; and
WHEREAS, as directed by the aforesaid Ordinance No.
434, the Secretary-Treasurer of The Metropolitan St. Louis Sewer
District did file a certified copy of said Ordinance No. 434 with
the Board of Election Commissioners for St. Louis County,
Missouri, being the county wherein the said Gravois Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District is wholly
situate; and
WHEREAS, the Board of Election Commissioners for St.
Louis County, Missouri, did thereupon proceed to hold and conduct
the said special election in said Subdistrict on the 30th day of
August, 1960; and
WHEREAS, the ballots furnished for and used at the said
special election were in substantially the form as set forth in
said Ordinance No. 434; and
WHEREAS, the said Board of Election Commissioners, on
the 6th day of September, 1960, did certify to the Board of
Trustees of The Metropolitan St. Louis Sewer District the result
of the aforesaid election showing that at said election there was
cast on the aforesaid proposition a total of twelve thousand, nine
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hundred seventy-three (12,973) votes, of which eleven thousand,
sixty-three (11,063) votes were cast "FOR THE BOND ISSUE" and one
thousand, nine hundred ten (1,910) votes were cast "AGAINST THE
BOND ISSUE"; and
WHEREAS, more than two-thirds of all the votes cast on
the aforesaid proposition were cast in favor thereof; and
WHEREAS, by Resolution No. 341, adopted on the 7th day
of October, 1960, the Board of Trustees of The Metropolitan St.
Louis Sewer District did declare the result of the aforesaid
special election held on the 30th day of August, 1960, and did
find and declare that the proposition submitted at said election
was assented to by more than two-thirds of the qualified electors
of said Gravois Creek Trunk Subdistrict of The Metropolitan St.
Louis Sewer District voting on said proposition at said election,
and that the Board of Trustees of The Metropolitan St. Louis Sewer
District, therefore, is authorized to issue the bonds of the
Gravois Creek Trunk Subdistrict in the amount and for the purpose
set forth in said proposition; and
WHEREAS, it has now become necessary to make provision
for the preparation, execution, issuance, and delivery of the said
bonds; and
WHEREAS, the assessed valuation of taxable, tangible
property within the Gravois Creek Trunk Subdistrict of The Metro-
politan St. Louis Sewer District, as ascertained by the last
completed assessment for state and county purposes made prior to
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the date of the aforesaid special election, to-wit: the assessment
made as of January 1, 1959, was One Hundred Twenty-five Million,
Nine Hundred Forty-eight Thousand Seven Hundred Ten Dollars
($125,948,710); and
WHEREAS, on the date of the aforesaid special election,
to-wit: on the 30th day of August, 1960, the said Gravois Creek
Trunk Subdistrict had no outstanding indebtedness of any kind or
character; and
WHEREAS, the amount of bonds authorized to be issued at
the aforesaid special election held on the 30th day of August,
1960, to-wit: Four Million, Seven Hundred Fifty Thousand Dollars
($4,750,000), did not then and does not now exceed any limit of
indebtedness prescribed under the Constitution of the State of
Missouri or the Plan of The Metropolitan St. Louis Sewer District,
aforesaid; and
WHEREAS, the Board of Trustees of The Metropolitan St.
Louis Sewer District, acting as the governing authority of the
aforesaid Gravois Creek Trunk Subdistrict is now legally
authorized and empowered to issue the bonds of said Subdistrict in
the principal amount of Four Million, Seven Hundred Fifty Thousand
Dollars ($4,750,000), as authorized at the aforesaid election; and
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. That there are hereby authorized and
ordered to be prepared and issued bonds of the Gravois Creek Trunk
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Subdistrict of The Metropolitan St. Louis Sewer District, in the
State of Missouri, in the amount of Four Million, Seven Hundred
Fifty Thousand Dollars ($4,750,000) to provide funds for the
purpose of constructing a sanitary trunk sewer system within and
for said Subdistrict, including all expenses necessarily
incidental thereto. The said bonds shall be of the denomination
of One Thousand Dollars ($1,000) each; shall be numbered from One
(1) to Four Thousand, Seven Hundred Fifty (4,750), inclusive;
shall bear date of March 1, 1961; and shall bear interest at the
rates to be determined pursuant to sale of said bonds, but not
exceeding six per centum (6%) per annum, payable February 1, 1962
and semi-annually on August 1 and February 1 in each year until
the principal of said bonds, respectively, shall have been paid.
Interest accruing on and prior to the respective maturity dates of
said bonds shall be evidenced by appropriate interest coupons to
be attached to each of said bonds. Both principal of and interest
on said bonds shall be payable in lawful money of the United
States of America at a bank or office to be designated pursuant to
sale of said bonds. The said bonds shall be executed by the
signature of the Chairman of the Board of Trustees of The
Metropolitan St. Louis Sewer District, under the seal of said
District, attested by the signature of the Secretary-Treasurer of
said District, and the interest coupons to be attached to said
bonds shall be executed by the facsimile signature of said
Secretary-Treasurer. Said bonds shall be numbered and shall
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mature in the amounts and at the times hereinafter set out, as
follows:
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Ord. No. 501 BOND NUMBERS AMOUNT MATURITY 1 to 160, inclusive $160,000 February 1, 1962 161 " 325, " 165,000 February 1, 1963 326 " 500, " 175,000 February 1, 1964 501 " 680, " 180,000 February 1, 1965 681 " 865, " 185,000 February 1, 1966 866 ''1,060, " 195,000 February 1, 1967 1,061 " 1,260, " 200,000 February 1, 1968 1,261 " 1,470, " 210,000 February 1, 1969 1,471 " 1,690, " 220,000 February 1, 1970 1,691 ''1,920, " 230,000 February 1, 1971 1,921 " 2,155, " 235,000 February 1, 1972 2,156 ''2,400, " 245,000 February 1, 1973 2,401 " 2,655, " 255,000 February 1, 1974 2,656 " 2,920, " 265,000 February 1, 1975 2,921 " 3,195, " 275,000 February 1, 1976 3,196 ''3,485, " 290,000 February 1, 1977 3,486 " 3,785, " 300,000 February 1, 1978 3,786 ''4,095, " 310,000 February 1, 1979 4,096 " 4,420, " 325,000 February 1, 1980 4,421 " 4,750, " 330,000 February 1, 1981
Section Two. That the said bonds and the interest
coupons evidencing the interest to accrue thereon shall be in
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substantially the following form, to-wit:
UNITED STATES OF AMERICA
STATE OF MISSOURI
GRAVOIS CREEK TRUNK SUBDISTRICT
OF
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
%
GENERAL OBLIGATION SEWER BOND
NO. $1,000.00
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Ord. No. 501
The Gravois Creek Trunk Subdistrict of The
Metropolitan St. Louis Sewer District, in the State of Missouri,
acting herein by and through the Board of Trustees of The
Metropolitan St. Louis Sewer District, for value received, hereby
promises to pay to bearer, or, if this bond be registered as
hereinafter provided, to the registered holder hereof, the sum of
ONE THOUSAND DOLLARS
($1,000.00) on the first day of February, 19 , with interest
thereon from date hereof at the rate of
per centum ( %) per annum, payable February 1, 1962 and
semi-annually on August 1 and February 1 in each year until the
principal hereof shall have been paid. Interest accruing on this
bond on and prior to the maturity date hereof shall be payable
upon presentation and surrender of the annexed interest coupons as
they severally become due.
Both principal of and interest on this bond are
payable in lawful money of the United States of America at the
, in the City of ,
State of , and for the prompt payment of
this bond and the interest thereon, the full faith, credit, and
resources of the Gravois Creek Trunk Subdistrict of The
Metropolitan St. Louis Sewer District are hereby irrevocably
pledged.
This bond is one of a series of four thousand, seven
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hundred fifty (4,750) bonds of like date, tenor, and effect,
except as to number, rate of interest and date of maturity,
numbered from One (1) to Four Thousand, Seven Hundred Fifty
(4,750), inclusive, aggregating the sum of Four Million, Seven
Hundred Fifty Thousand Dollars ($4,750,000), issued by the Gravois
Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer
District to provide funds for the purpose of constructing a
sanitary trunk sewer system within and for said Subdistrict,
including all expenses necessarily incidental thereto, and is
issued under authority of the Constitution of the State of
Missouri and the Plan of The Metropolitan St. Louis Sewer District
and pursuant to an election duly called and held in said Gravois
Creek Trunk Subdistrict of The Metropolitan St. Louis Sewer
District on the 30th day of August, 1960, whereat more than two-
thirds of the votes cast were in favor of the issuance of this
bond and of the series of which it is one, and by further
authority of ordinances duly adopted and proceedings duly had by
the Board of Trustees of The Metropolitan St. Louis Sewer
District.
This bond may be registered as to principal in the
name of the holder on the books of The Metropolitan St. Louis
Sewer District in the office of the Secretary-Treasurer of said
District, such registration to be evidenced by notation of said
Secretary-Treasurer on the reverse hereof, after which no transfer
hereof shall be valid unless made on said books and similarly
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noted hereon, but this bond may be discharged from registration by
being transferred to bearer, after which it shall be transferable
by delivery, but it may again be registered as before. The regis-
tration of this bond shall not affect the negotiability of the
interest coupons hereto attached, which shall continue to be
negotiable by delivery merely, notwithstanding registration
hereof.
It is hereby certified and recited that all acts,
conditions, and things required to be done, precedent to and in
the issuance of this bond, in order to make the same a lawful and
binding obligation of said Gravois Creek Trunk Subdistrict of The
Metropolitan St. Louis Sewer District, have been done, have
happened, and have been performed in regular and due form, time,
and manner, as required by law; that provision has been made for
the levy of a direct, continuing, annual tax upon all taxable,
tangible property in said Subdistrict for the payment of the
principal of and the interest on this bond; and that the total
indebtedness of said Subdistrict, including this bond and the
issue of which it is one, does not exceed any statutory or
constitutional limit.
IN TESTIMONY WHEREOF, the Gravois Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District, acting
herein by and through the Board of Trustees of The Metropolitan
St. Louis Sewer District, has executed this bond by causing it to
be signed by the Chairman of the Board of Trustees of The
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Metropolitan St. Louis Sewer District, under the seal of said
District, attested by the Secretary-Treasurer of said District,
and has caused the annexed interest coupons to be executed by the
facsimile signature of said Secretary-Treasurer, which signature
the said Secretary-Treasurer, by the execution of this bond,
adopts as and for his own proper signature, and this bond to be
dated February 1, 1961. GRAVOIS CREEK TRUNK SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By Chairman, Board of Trustees of The Metropolitan St. Louis Sewer District ATTEST: Secretary-Treasurer of The Metropolitan St. Louis Sewer District
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Ord. No. 501
(FORM OF INTEREST COUPONS)
No. $
February, On the first day of August, 19, the Gravois Creek
Trunk Subdistrict of The Metropolitan St. Louis Sewer District, in
the State of Missouri, promises to pay to bearer
($ ) in lawful money of the
United States of America at the
, in the City of , State of
, being interest due that date on its General Obligation Sewer
Bond dated March 1, 1961, and numbered .
GRAVOIS CREEK TRUNK SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By Secretary-Treasurer of The Metropolitan St. Louis Sewer District
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Ord. No. 501 (REGISTRATION CERTIFICATE)
In accordance with the terms of this bond it may be
registered as to principal only, appropriate notation being made
below by the Secretary-Treasurer of The Metropolitan St. Louis
Sewer District, in the State of Missouri. (Note:No writing below except by the Secretary-Treasurer of The Metropolitan St. Louis Sewer District) SIGNATURE OF DATE OF REGISTRATION IN WHOSE NAME REGISTERED SECRETARY- TREASURER
Section Three. That when the said bonds shall have been
executed as hereinbefore directed, they shall be registered in the
office of the Secretary-Treasurer of The Metropolitan St. Louis
Sewer District in a book to be provided and kept for that purpose.
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Ord. No. 501
Section Four. That for the purpose of providing for
the payment of the principal of and the interest on said bonds as
they shall respectively mature and accrue, there shall be and
there is hereby levied a direct, continuing, annual tax upon all
taxable, tangible property within said Gravois Creek Trunk
Subdistrict, sufficient, after allowance shall have been made for
the expenses of collection and delinquencies in the payment of
taxes, to produce in each of the years 1961 to 1981, inclusive,
the sums necessary to pay said bonds as they mature and the
interest thereon as it accrues, and provision to meet the require-
ments of this Ordinance shall be made annually in due time,
manner, and season.
Section Five. That said tax shall be extended upon the
tax rolls and shall be collected in the same manner and at the
same time as state, county, school, and other ad valorem taxes are
extended and collected, and the rate of tax which shall be so
extended shall be sufficient in each year fully to produce the
sums required as aforesaid, after due allowance shall have been
made for probable delinquencies in the payment of taxes and the
customary costs of collection, and the proceeds derived from the
collection of such tax shall be credited to a special fund hereby
created in the treasury of The Metropolitan St. Louis Sewer
District and designated "GRAVOIS CREEK TRUNK SUBDISTRICT BOND AND
INTEREST FUND," and shall be used exclusively for the purposes
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herein required.
Section Six. That the Chairman and the Secretary-
Treasurer of The Metropolitan St. Louis Sewer District are hereby
authorized and directed to cause the bonds herein described to be
prepared and to execute the same as herein directed, to cause the
same to be registered in the office of the Secretary-Treasurer,
and thereupon to deliver the said bonds to the purchasers thereof.
Section Seven. That the principal proceeds received
from sale and delivery of the bonds herein authorized to be
issued, immediately upon receipt thereof, shall be set aside in a
separate fund designated "GRAVOIS CREEK TRUNK SUBDISTRICT
CONSTRUCTION FUND," and shall be used solely and only for the
purpose of constructing a sanitary trunk sewer system within and
for said Subdistrict, including all expenses necessarily
incidental thereto. The accrued interest and the premium received
upon sale and delivery of the aforesaid bonds shall be deposited
forthwith in and credited to the Bond and Interest Fund created in
Section Five of this Ordinance.
Section Eight. That the Secretary-Treasurer of The
Metropolitan St. Louis Sewer District be and is hereby authorized
and directed, without any further order or direction of the Board
of Trustees of said District, to remit to the paying agent herein-
above named, at least five (5) days prior to each interest payment
date and each bond maturity date, the sums which will then be due
for interest or principal, or both, and to include with each such
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remittance the usual and customary fees of such paying agent for
its services and responsibility in paying interest coupons and
bonds and making accounting therefor to the District.
Section Nine. That all ordinances or parts of
ordinances in conflict with the provisions of this Ordinance shall
be and the same are hereby repealed, insofar as they may so
conflict, and this Ordinance shall be in full force and effect
from and after its passage and approval.
The foregoing Ordinance was adopted January 19, 1961.