HomeMy Public PortalAbout01001 O R D I N A N C E NO. 1001
AN ORDINANCE directing the issuance of One Hundred
Thousand Dollars ($100,000) (of Nine Hundred Thousand Dollars
($900,000) authorized) General Obligation Sewer Bonds of
Subdistrict No. Seven of River des Peres Watershed (Wellston Area)
of The Metropolitan St. Louis Sewer District, in the State of
Missouri, authorized at a special election held in said
Subdistrict on the 18th day of July, 1961; 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 Con-
stitution 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. 409, adopted on the 16th day of June, 1960,
did create Subdistrict No. Seven of the River des Peres Watershed
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(Wellston Area) of The Metropolitan St. Louis Sewer District; and
WHEREAS, thereafter, by Ordinance No. 572, adopted on
the 15th day of June, 1961, 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 Subdistrict No. Seven of
the River des Peres Watershed (Wellston Area) 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 Subdistrict No. Seven of the River des Peres Watershed (Wellston Area) of The Metropolitan St. Louis Sewer District be issued in the amount of Nine Hundred Thousand ($900,000.00) 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. 572 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 the St. Louis Post-
Dispatch on the 27th of June, 1961, and the 3rd, 5th and 11th days
of July, 1961 and in the St. Louis Globe-Democrat on the 27th day
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of June, 1961 and the 4th and 11th day of July, 1961, 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
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. 572,
the Secretary-Treasurer of The Metropolitan St. Louis Sewer
District did file a certified copy of said Ordinance No. 572 with
the Board of Election Commissioners for St. Louis County,
Missouri, being the county wherein the said Subdistrict No. Seven
of the River des Peres Watershed (Wellston Area) 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 18th day of
July, 1961; 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. 572; and
WHEREAS, the said Board of Election Commissioners, on
the 19th day of July, 1961, did certify to the Board of Trustees
of The Metropolitan St. Louis Sewer District the result of the
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aforesaid election showing that at said election there was cast on
the aforesaid proposition a total of one thousand seventy-five
(1,075) votes, of which seven hundred thirty-six (736) votes were
cast "FOR THE BOND ISSUE" and three hundred thirty-nine (339)
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. 445, adopted on the 31st day
of August, 1961, the Board of Trustees of The Metropolitan St.
Louis Sewer District did declare the result of the aforesaid
special election held on the 18th day of July, 1961, 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 Subdistrict No. Seven of the River des Peres Watershed
(Wellston Area) 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 Subdistrict No. Seven of the
River des Peres Watershed (Wellston Area) in the amount and for
the purpose set forth in said proposition; and
WHEREAS, heretofore, to wit: on the 25th day of
January, 1962, after due and lawful notice thereof, this Board did
receive sealed bids for the purchase of Seven Hundred Fifty
Thousand Dollars ($750,000.00) of the aforesaid authorized issue,
did accept the highest bid made and offered for said bonds, and
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thereafter did deliver said Bonds to the highest bidder on the 7th
day of March, 1962; said bonds bearing date of the 1st day of
February, 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 One Hundred Thousand Dollars
($100,000.00) of the Nine Hundred Thousand Dollars ($900,000.00)
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 Fifty Thousand Dollars
($50,000.00) 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 20th day of June,
1963, after due and lawful publication of notice thereof, this
Board did receive sealed bids for the purchase of One Hundred
Thousand Dollars ($100,000.00) 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 the preparation, execution, issuance, and delivery of the said
bonds; and
WHEREAS, the assessed valuation of taxable, tangible
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property within Subdistrict No. Seven of the River des Peres
Watershed (Wellston Area) 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,
1960, was Twenty Million, Nine Hundred Twenty-nine Thousand, Four
Hundred Ninety Dollars ($20,929,490); and
WHEREAS, on the date of the aforesaid special election,
to wit: on the 18th day of July, 1961, the said Subdistrict No.
Seven of the River des Peres Watershed (Wellston Area) 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 18th day of July, 1961,
to wit: Nine Hundred Thousand Dollars ($900,000), 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
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 Subdistrict No. Seven
of the River des Peres Watershed (Wellston Area) of The
Metropolitan St. Louis Sewer District, in the State of Missouri,
in the amount of One Hundred Thousand Dollars ($100,000) being
part of the Nine Hundred Thousand Dollars ($900,000) of bonds
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authorized at a special election held in said Subdistrict on the
18th day of July, 1961, 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
One Hundred (100), inclusive; shall bear date of August 1, 1963;
and shall bear interest at the rates per annum hereinafter set
forth, payable February 1, 1964 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
St. Louis Union 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 Metro-
politan 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 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:
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MATURITY BOND NUMBERS RATE OF INTEREST AMOUNT (February 1)
1 to 5, incl. 3-1/4% $5,000 1964
6 to 10, incl. 3-1/4% 5,000 1965
11 to 15, incl. 3-1/4% 5,000 1966
16 to 20, incl. 3-1/4% 5,000 1967
21 to 25, incl. 3-1/4% 5,000 1968
26 to 30, incl. 3-1/4% 5,000 1969
31 to 35, incl. 3-1/4% 5,000 1970
36 to 40, incl. 3-1/4% 5,000 1971
41 to 45, incl. 3-1/4% 5,000 1972
46 to 50, incl. 3-1/4% 5,000 1973
51 to 55, incl. 3-1/4% 5,000 1974
56 to 60, incl. 3-1/4% 5,000 1975
61 to 65, incl. 3-1/4% 5,000 1976
66 to 70, incl. 3-1/4% 5,000 1977
71 to 75, incl. 3-1/4% 5,000 1978
76 to 80, incl. 3-1/4% 5,000 1979
81 to 85, incl. 3-1/4% 5,000 1980
86 to 90, incl. 3-1/4% 5,000 1981
91 to 100, incl. 3-1/4% 10,000 1982
$100,000
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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 SUBDISTRICT NO. SEVEN OF THE RIVER DES PERES WATERSHED (WELLSTON AREA) OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT
%
GENERAL OBLIGATION SEWER BOND
NO. $1,000.00
Subdistrict No. Seven of the River des Peres Watershed
(Wellston Area) 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, 1964,
and semi-annually thereafter on August 1 and February 1 in each
year until the principal hereof shall have been paid. Interest
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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 St. Louis
Union Trust Company, in the City of St. Louis, State of Missouri,
and for the prompt payment of this bond and the interest hereon,
the full faith, credit, and resources of Subdistrict No. Seven of
the River des Peres Watershed (Wellston Area) of The Metropolitan
St. Louis Sewer District are hereby irrevocably pledged.
This bond is one of a series of one hundred (100) bonds
of like date, tenor, and effect, except as to number and date of
maturity, numbered from One (1) to One Hundred (100), inclusive,
aggregating the sum of One Hundred Thousand Dollars ($100,000), of
an authorized issue of Nine Hundred Thousand Dollars ($900,000)
issued by Subdistrict No. Seven of the River des Peres Watershed
(Wellston Area) 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 Subdistrict No. Seven of
the River des Peres Watershed (Wellston Area) of The Metropolitan
St. Louis Sewer District on the 18th day of July, 1961, whereat
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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 of 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 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 Subdistrict No. Seven of the River des
Peres Watershed (Wellston Area) 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
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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, Subdistrict No. Seven of the River
des Peres Watershed (Wellston Area) 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 hereon in facsimile,
attested by the manual signature of 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 August 1, 1963. SUBDISTRICT NO. SEVEN OF THE RIVER DES PERES WATERSHED (WELLSTON AREA) OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT By Chairman, Board of Trustees of The Metropolitan St. Louis Sewer District ATTEST:
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Secretary-Treasurer of The Metropolitan St. Louis Sewer District.
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(FORM OF INTEREST COUPON) No. $ February, On the first day of August, 19 , Subdistrict
No. Seven of the River des Peres Watershed (Wellston Area) 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 St. Louis Union Trust
Company, in the City of St. Louis, State of Missouri, being
interest due that date on its General Obligation Sewer Bond dated
August 1, 1963, and numbered .
SUBDISTRICT NO. SEVEN OF THE RIVER DES PERES WATERSHED (WELLSTON AREA) 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 amount of $16.25 each.
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(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 IN WHOSE SIGNATURE OF REGISTRATION 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
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taxable, tangible property within said Subdistrict No. Seven of
the River des Peres Watershed (Wellston Area), 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 1964 to 1982, 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 "SUBDISTRICT NO. SEVEN OF THE RIVER DES
PERES WATERSHED, (WELLSTON AREA) BOND AND INTEREST FUND," and
shall be used exclusively for the 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
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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 "SUBDISTRICT NO. SEVEN OF THE RIVER DES PERES
WATERSHED (WELLSTON AREA) 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 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 the right shall be and is hereby
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reserved unto this Board, at its option, hereafter to direct the
issuance, sale and delivery of the remaining Fifty Thousand
Dollars ($50,000) of the Nine Hundred Thousand Dollars ($900,000)
of bonds authorized at the aforesaid election held on the 18th day
of July, 1961, 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 July 18, 1963.