HomeMy Public PortalAbout00533REPEALED - SEE ORDINANCE NO. 608
O R D I N A N C E NO. 533
AN ORDINANCE directing the issuance of Two Hundred
Twenty Thousand Dollars ($220,000) General Obligation Sewer Bonds
of Benefit Subdistrict No. 111 (Marlborough) of The Metropolitan
St. Louis Sewer District, in the State of Missouri, authorized at
a special election held in said Subdistrict on the 8th day of
December, 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. 441, adopted on the 1st day of September,
1960, did create Benefit Subdistrict No. 111 (Marlborough) of The
Metropolitan St. Louis Sewer District; and
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WHEREAS, thereafter, by Ordinance No. 462, adopted on
the 27th day of October, 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 Benefit Subdistrict No.
111 (Marlborough) 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 Benefit Subdistrict No. 111 (Marlborough) of The Metropolitan St. Louis Sewer District be issued in the amount of Two Hundred Twenty Thousand ($220,000) Dollars to provide funds for the purpose of purchasing a sanitary sewer system within and for said Subdistrict?" and
WHEREAS, due and regular notice of said special election was
given as directed by the aforesaid Ordinance No. 462 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 15th, 22nd, and 29th days of November and the
6th day of December, 1960, the first publication in each of said
newspapers having been made at least twenty-one (21) days prior to
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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. 462,
the Secretary-Treasurer of The Metropolitan St. Louis Sewer Dis-
trict did file a certified copy of said Ordinance No. 462, with
the Board of Election Commissioners for St. Louis County,
Missouri, being the county wherein the said Benefit Subdistrict
No. 111 (Marlborough) 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 8th day of
December, 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. 462; and
WHEREAS, the said Board of Election Commissioners, on
the 16th day of December, 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 six hundred
thirty-six (636) votes, of which five hundred ninety-one (591)
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votes were cast "FOR THE BOND ISSUE" and forty-five (45) 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. 366, adopted on the 5th day of
January, 1961, the Board of Trustees of The Metropolitan St. Louis
Sewer District did declare the result of the aforesaid special
election held on the 8th day of December, 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 Benefit Subdistrict No. 111 (Marlborough) 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 said Benefit Subdistrict No. 111 (Marlborough) 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 Benefit Subdistrict No. 111 (Marlborough) of The
Metropolitan St. Louis Sewer District, as ascertained by the last
completed assessment for state and county purposes made prior to
the date of the aforesaid special election, to-wit: the assessment
made as of January 1, 1959, was Eight Million Six Hundred Ninety-
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One Thousand Fifty-Five Dollars ($8,691,055); and
WHEREAS, on the date of the aforesaid special election, to-
wit: on the 8th day of December, 1960, the said Benefit Sub-
district No. 111 (Marlborough) 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 8th day of December, 1960,
to-wit: Two Hundred Twenty Thousand Dollars ($220,000), 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 Benefit Subdistrict No. 111 (Marlborough) is now legally
authorized and empowered to issue the bonds of said Subdistrict in
the principal amount of Two Hundred Twenty Thousand Dollars
($220,000), 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 Benefit Subdistrict No.
111 (Marlborough) of The Metropolitan St. Louis Sewer District, in
the State of Missouri, in the amount of Two Hundred Twenty
Thousand Dollars ($220,000) to provide funds for the purpose of
purchasing a sanitary sewer system within and for said
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Subdistrict. The said bonds shall be of the denomination of One
Thousand Dollars ($1,000) each; shall be numbered from One (1) to
Two Hundred Twenty (220), inclusive; shall bear date of June 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 mature in the amounts and at the times
hereinafter set out, as follows: BOND NUMBERS AMOUNT MATURITY 1 to 5, inclusive $ 5,000 February 1, 1962 6 " 11, " 6,000 February 1, 1963 12 " 18, " 7,000 February 1, 1964 19 " 26, " 8,000 February 1,
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1965 27 " 34, " 8,000 February 1, 1966 35 " 44, " 10,000 February 1, 1967 45 " 54, " 10,000 February 1, 1968 55 " 64, " 10,000 February 1, 1969 65 " 74, " 10,000 February 1, 1970 75 " 84, " 10,000 February 1, 1971 85 " 96, " 12,000 February 1, 1972 97 "108, " 12,000 February 1, 1973 109 "120, " 12,000 February 1, 1974 121 "132, " 12,000 February 1, 1975 133 "146, " 14,000 February 1, 1976 147 "160, " 14,000 February 1, 1977 161 "175, " 15,000 February 1, 1978 176 "190, " 15,000 February 1, 1979 191 "205, " 15,000 February 1, 1980 206 "220, " 15,000 February 1, 1981
Section Two. That the said bonds and the interest
coupons evidencing the interest to accrue thereon shall be in
substantially the following form, to wit:
UNITED STATES OF AMERICA
STATE OF MISSOURI
BENEFIT SUBDISTRICT NO. 111 (MARLBOROUGH)
OF
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
8
%
GENERAL OBLIGATION SEWER BOND
NO. $1,000.00
Benefit Subdistrict No. 111 (Marlborough) of The Metro-
politan 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 thereof, the full faith, credit, and resources of
Benefit Subdistrict No. 111 (Marlborough) of The Metropolitan St.
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Louis Sewer District are hereby irrevocably pledged.
This bond is one of a series of two hundred twenty (220)
bonds of like date, tenor, and effect, except as to number,
rate of interest and date of maturity, numbered from One (1)
to Two Hundred Twenty (220), inclusive, aggregating the sum
of Two Hundred Twenty Thousand Dollars ($220,000) issued by
Benefit Subdistrict No. 111 (Marlborough) of The Metropolitan
St. Louis Sewer District to provide funds for the purpose of
purchasing a sanitary sewer system within and for said Sub-
district, 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 Benefit Subdistrict No. 111 (Marlborough) of
The Metropolitan St. Louis Sewer District on the 8th day of
December, 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 Benefit Subdistrict No. 111
(Marlborough) 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, Benefit Subdistrict No. 111
(Marlborough) 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
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be signed by the Chairman of the Board of Trustees of The Metro-
politan 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 June 1, 1961. BENEFIT SUBDISTRICT NO. 111 (MARLBOROUGH) 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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(FORM OF INTEREST COUPONS) No. $ February, On the first day of August, 19 , Benefit Subdistrict
No. 111 (Marlborough) 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 June 1, 1961, and numbered .
BENEFIT SUBDISTRICT NO. 111 (MARLBOROUGH) OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By Secretary-Treasurer of The Metropolitan St. Louis Sewer District
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Ord. No. 533
(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) DATE OF SIGNATURE 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.
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 Benefit Subdistrict No. 111
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(Marlborough), 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
requirements 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 "BENEFIT SUBDISTRICT NO. 111 (MARLBOROUGH)
BOND AND INTEREST FUND," and shall be used exclusively for the
purposes herein required.
Section Six. That the Chairman and the SecretaryTreasurer
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
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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 "BENEFIT SUBDISTRICT NO. 111 (MARLBOROUGH)
CONSTRUCTION FUND" and shall be used solely and only for the
purpose of purchasing a sanitary 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
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
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this Ordinance shall be in full force and effect from and after
its passage and approval.
The foregoing Ordinance was adopted April 17, 1961.