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
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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
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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
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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.