HomeMy Public PortalAbout00872 O R D I N A N C E NO. 872
AN ORDINANCE directing the issuance of Two Hundred Twenty-
five Thousand Dollars ($225,000) (of Four Million, Seven Hundred
Fifty Thousand Dollars ($4,750,000) authorized) 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 Subdistrict 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 St.
Louis Sewer District; and
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WHEREAS, thereafter, by Ordinance No. 434, adopted on the
28th day of July, 1960, the Board of Trustees of The Metropolitan
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 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
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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 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 case "AGAINST THE
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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. his 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, heretofore, to wit. on the 15th day of June, 1961,
after due and lawful notice thereof, this Board did receive sealed
bids for the purchase of Three Million, Two Hundred Fifty Thousand
Dollars ($3,250,000) of the aforesaid authorized issue, did accept
the highest bid made and offered for said bonds, and thereafter
did deliver said Bonds to the highest bidder on the 17th day of
July, 1961; said bonds bearing date of the 1st day of July, 1961;
and
WHEREAS, heretofore, to wit. on the 19th day of February,
1962, after due and lawful notice thereof, this Board did receive
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sealed bids for the purchase of Four Hundred Thousand Dollars
($400,000) of the aforesaid authorized issue, did accept the
highest bid made and offered for said bonds, and thereafter did
deliver said bonds to the highest bidder on the 6th day of April,
1962; said bonds bearing date of the 1st day of April, 1962; and
WHEREAS, this Board does now find and determine that it is
necessary at this time to proceed with the issuance, sale and
delivery of an additional Two Hundred Twenty-five Thousand Dollars
($225,000) of the Four Million, Seven Hundred Fifty Thousand
Dollars ($4,750,000) of bonds authorized as aforesaid, and that
the right be reserved unto said Board, at its option, hereafter to
direct the issuance, sale and delivery of the remaining Eight
Hundred Seventy-five Thousand Dollars ($875,000) of said
authorized bonds, or any part thereof, if the Board should
hereafter find that the issuance, sale and delivery thereof is
necessary to complete the construction of a sanitary trunk sewer
system within and for said Subdistrict, including all expenses
necessarily incidental thereto; and
WHEREAS, heretofore, to wit: on the 8th day of November,
1962, after due and lawful publication of notice thereof, this
Board did receive sealed bids for the purchase of Two Hundred
Twenty-five Thousand Dollars ($225,000.00) of the aforesaid
authorized issue, and did accept the highest bid made and offered
for said bonds; and
WHEREAS, it has now become necessary to make provision for
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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 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 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.
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
Subdistrict of The Metropolitan St. Louis Sewer District in the
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State of Missouri, in the amount of Two Hundred Twenty-five
Thousand Dollars ($225,000) being part of the Four Million, Seven
Hundred Fifty Thousand Dollars ($4,750,000) of bonds authorized at
a special election held in said Subdistrict on the 30th day of
August, 1960, 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 Five Thousand Dollars
($5,000) each; shall be numbered from One (1) to Forty-five (45),
inclusive; shall bear date of December 1, 1962; and shall bear
interest at the rates per annum hereinafter set forth, payable
February 1, 1963, and semi-annually thereafter 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 the
Mercantile Trust Company, in the City of St. Louis, State of
Missouri. The said bonds shall be executed by the facsimile
signature of the Chairman of the Board of Trustees of The
Metropolitan St. Louis Sewer District, with the seal of said
District imprinted thereon in facsimile, attested by the manual
signature of the Secretary-Treasurer of said District, and the
interest coupons to be attached to said bonds shall be executed by
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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:
MATURITY
BOND NUMBERS RATE OF INTEREST AMOUNT (February 1)
1 3% $5,000 1963
2 and 3 3% 10,000 1964
4 and 5 2-3/4% 10,000 1965
6 and 7 2-3/4% 10,000 1966
8 and 9 2-3/4% 10,000 1967
10 and 11 2-3/4% 10,000 1968
12 and 13 2-3/4% 10,000 1969
14 and 15 2-3/4% 10,000 1970
16 and 17 2-3/4% 10,000 1971
18 and 19 2-3/4% 10,000 1972
20 and 21 2-3/4% 10,000 1973
22 and 23 2-3/4% 10,000 1974
24 and 25 2-3/4% 10,000 1975
26 and 27 3% 10,000 1976
28 to 30, incl. 3% 15,000 1977
31 to 33 3% 15,000 1978
34 to 36," 3% 15,000 1979
37 to 39," 3% 15,000 1980
40 to 42," 3% 15,000 1981
43 to 45," 3% 15,000 1982
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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
GRAVOIS CREEK TRUNK SUBDISTRICT
OF
THE METROPOLITAN ST. LOUIS SEWER DISTRICT
___________________%
GENERAL OBLIGATION SEWER BOND
NO.__________ $5,000.00
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
FIVE THOUSAND DOLLARS
($5,000.00) on the first day of February, 19 , with interest
thereon from date hereof at the rate of __________________________
per centum ( %) per annum, payable February 1, 1963, and semi-
annually thereafter on August 1 and February 1 in each year until
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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 Mercantile
Trust Company, in the City of St. Louis, State of Missouri, 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 forty-five (45) bonds of like
date, tenor, and effect, except as to number, rate of interest,
and date of maturity, numbered from One (1) to Forty-five (45),
inclusive, aggregating the sum of Two Hundred Twenty-five Thousand
Dollars ($225,000), being part of Four Million, Seven Hundred
Fifty Thousand Dollars ($4,750,000) authorized, 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
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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
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
registration 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,
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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 caused this bond to be executed by the facsimile
signature of the Chairman of the Board of Trustees of The
Metropolitan St. Louis Sewer District, with the seal of said
District imprinted thereon in facsimile, attested by the manual
signature of the Secretary-Treasurer of said District, and has
caused the annexed interest coupons to be exerted 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 December
1, 1962.
GRAVOIS CREEK TRUNK SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By Chairman, Board of Trustees of The Metropolitan St. Louis Sewer District
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ATTEST:
Secretary-Treasurer of The Metropolitan St. Louis Sewer District
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(FORM OF INTEREST COUPONS) No. _______________ $_________________ August,
On the first day of February, 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 Mercantile Trust Company, in the City of St. Louis, State
of Missouri, being interest due that date on its General
Obligation Sewer Bond dated December 1, 1962, and numbered
_________________
GRAVOIS CREEK TRUNK SUBDISTRICT OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By______________________________________ Secretary-Treasurer of The Metropolitan St. Louis Sewer District
The interest coupons to be attached to said bonds shall
be payable in the following amounts, to wit:
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COUPONS DUE SEMI-ANNUAL
BOND NUMBERS FEBRUARY 1, 1963 COUPONS THEREAFTER
1 to 3, incl. $ 25.00 $ 75.00
4 to 25, " 22.92 68.75
26 to 45, " 25.00 75.00 (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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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 1963 to 1982, inclusive, the sums
necessary to pay said bonds as they mare 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
heretofore created in the treasury of The Metropolitan St. Louis
Sewer District and
designated "GRAVOIS CREEK TRUNK SUBDISTRICT BOND AND INTEREST
FUND," under the provision of Section Five of Ordinance No. 590 of
the said Sewer District, and shall be used exclusively for the
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purposes 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
hereinabove 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
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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 there for to the District.
Section Nine. That the right shall be and is hereby
reserved unto this Board, at its option, hereafter to direct the
issuance, sale, and delivery of the remaining Eight Hundred
Seventy-five Thousand Dollars ($875,000) of the Four Million,
Seven Hundred Fifty Thousand Dollars ($4,750,000) of bonds
authorized at the aforesaid election held on the 30th day of
August, 1960, or any part thereof, if this Board should hereafter
find that the issuance, sale, and delivery thereof is necessary to
complete the construction of a sanitary trunk sewer system within
and for said Subdistrict, including all expenses necessarily
incidental thereto.
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The foregoing Ordinance was adopted November 27, 1962