HomeMy Public PortalAbout02267 O R D I N A N C E NO. 2267
AN ORDINANCE, transferring Two Hundred Ten Thousand
Dollars ($210,000.00) from the Gravois Creek Operation,
Maintenance and Construction Improvement Fund to the Improvement
Fund as a loan from the fund named, appropriating the same sum
from the Improvement Fund as an advancement for the entire costs
of constructing sanitary sewers in Subdistrict No. 268 (Lin Ferry-
Tesson Ferry), and providing for repayment of such loan and
advancement.
WHEREAS, proceedings have been taken for the
construction of sanitary sewers in Subdistrict No. 268 (Lin Ferry-
Tesson Ferry) to be paid for by special tax bills or other
evidence of special benefit assessments upon the land benefitted
by such improvement, and
WHEREAS, the Department of Housing and Urban
Development, United States of America, has approved a grant in aid
of financing such improvement conditioned on the advance payment
of costs in cash by the District,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The sum of Two Hundred Ten Thousand
Dollars ($210,000.00) is hereby lent and transferred from the
unappropriated surplus of the Gravois Creek Operation, Maintenance
and Construction Improvement Fund to the Improvement Fund to be
used for all costs for the construction of Subdistrict No. 268
(Lin Ferry-Tesson Ferry) in St. Louis County, Missouri.
Section Two. The sum of Two Hundred Ten Thousand
Dollars ($210,000.00) is hereby appropriated from the Improvement
Fund to be used for advancements for the entire costs of
constructing sanitary sewers in Subdistrict No. 268 (Lin Ferry-
Tesson Ferry), pending payment into the Improvement Fund of the
costs hereby advanced from federal grants in aid, cash payments in
aid from any other source, and from the proceeds of collection of
special benefit assessments levied, or special tax bills issued,
to pay such costs.
Section Three. The anticipated payments, together with
any interest earned shall be paid into the Improvement Fund named
in Section Two and shall be transferred by the Director of Finance
from the Improvement Fund to the lending Fund named in Section
One, as received.
Section Four. This Ordinance, being an appropriation
Ordinance, shall take effect immediately upon its enactment. The foregoing Ordinance was adopted February 24, 1972.