Loading...
HomeMy Public PortalAbout01481 O R D I N A N C E NO. 1481 AN ORDINANCE authorizing and directing the replacement and reprinting of Bonds numbered 709 through 728, inclusive, of an issue of $20,000,000 General Obligation Sewer Bonds of The Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, Missouri, which bonds bear date of February 1, 1966, and mature on February 1, 1970, together with the appropriate coupons thereon. WHEREAS, by Ordinance No. 1463, adopted January 31, 1966 by the Board of Trustees of The Metropolitan St. Louis Sewer District, there were ordered to be prepared and issued General Obligation Sewer Bonds of The Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, in the State of Missouri, in the principal amount of Twenty Million Dollars ($20,000,000), consisting of four thousand (4000) bonds of the denomination of Five Thousand Dollars each, numbered One (1) to Four Thousand (4,000) inclusive, bearing date of February 1, 1966, with interest thereon payable August 1, 1966 and semi-annually thereafter on February 1 and August 1 each year until the principal of said bonds, respectively, shall have been paid, and WHEREAS such bonds were printed, executed and delivered to the purchaser thereof on February 21, 1966, and WHEREAS this District has received information from the Seaboard Surety Company, insurer for the firm of Hornblower & Weeks-Hemphill, Noyes, owner of the bonds hereinafter described, that bonds numbered 709 through 728, inclusive, of the aforesaid 2 issue, maturing February 1, 1970, bearing interest at the rate of five per centum (5%), per annum, and subsequent coupons attached, have been lost in the mail, and that request therefore has been made that this Board authorize the reprinting and delivery of new or replacement bonds to the owners of the bonds lost as aforesaid; and WHEREAS upon receipt of proper affidavits proving ownership and loss, and upon receipt of a surety bond in the amount of twice the face value of the lost bonds plus the face value of the unmatured interest coupons identified therewith, this Board is agreeable to authorizing the reprinting and delivery of new or replacement bonds, as requested: 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 twenty (20) new or replacement bonds of the Mississippi River Subdistrict of The Metropolitan St. Louis Sewer District, dated February 1, 1966, numbered 709R through 728R, in the face amount of Five Thousand Dollars ($5,000), each, with the August 1, 1966 coupons and subsequent semi-annual interest coupons attached; said bonds bearing interest at the rate of five per centum (5%) per annum, maturing February 1, 1970, and replacing lost bonds numbered 709 through 728 of the issue described in the preamble hereto. The said new or replacement bonds, in all respects, save numbering, shall be as 3 set forth in Ordinance No. 1463 of The Metropolitan St. Louis Sewer District, adopted January 31, 1966. The said new or replacement bonds shall be executed in like manner as required by said Ordinance No. 1463 for the execution of the original bonds issued thereunder. Section Two. Upon receipt by the Secretary-Treasurer of proof of ownership and loss, and a surety bond in the amount of twice the total face amount of such new or replacement bonds, plus the total face amount of all interest coupons identified therewith such surety bond being given by a surety company duly authorized to transact business in the State of Missouri, the Secretary- Treasurer is hereby authorized to deliver such new or replacement bonds to the firm of Hornblower & Weeks-Hemphill, Noyes or its surety, the Seaboard Surety Company. The District in no wise assumes any obligation to pay for the printing of such replacement bonds. Section Three. The paying agent for the bonds of the aforesaid issue, the Mercantile Trust Company National Association, St. Louis, Missouri, as designated in aforesaid Ordinance No. 1463, is hereby authorized to accept for payment when presented and due such new or replacement bonds or their respective interest coupons in the same manner as the original bonds and interest coupons issued under authority of the aforesaid ordinance. Section Four. Effective upon delivery of such new or replacement bonds to the aforesaid owner thereof, the original 4 bonds numbered 709 through 728, inclusive, of aforesaid issue, together with the coupons thereon are declared void and unredeemable. Section Five. Certified copies of this Ordinance shall be supplied by the Secretary-Treasurer to the bond owner, surety company, and to the paying agent herein named. The foregoing Ordinance was adopted May 9, 1966.