Loading...
HomeMy Public PortalAbout03174 O R D I N A N C E NO. 3174 AN ORDINANCE appropriating Four Hundred Twenty-five Thousand Dollars ($425,000.00) from the unappropriated balance of the Mississippi River Subdistrict Principal and Interest Account to be used for the purchase of Four Hundred Fifty Thousand Dollars ($450,000.00) par value Mississippi River Subdistrict Sewer Bonds dated August 1, 1967 and maturing on February 1, 1987, together with their accrued interest. WHEREAS, the owners of such bonds have offered to sell them to the District at the price and sum of Four Hundred Fourteen Thousand Five Hundred Seventeen Dollars Fifty Cents ($414,517.50), plus accrued interest from August 1, 1976 until date of sale, and WHEREAS, the District is willing to purchase such bonds upon such terms. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. The sum of Four Hundred Twenty-five Thousand Dollars ($425,000.00) is hereby appropriated from the unappropriated surplus of the Mississippi River Subdistrict Principal and Interest Account to be used for the purchase of Four Hundred Fifty Thousand Dollars ($450,000.00) par value Mississippi River Subdistrict Sewer Bonds dated August 1, 1967 and maturing on February 1, 1987, together with payment of the accrued interest thereon from August 1, 1976 until date of sale and payment therefor. Section Two. Upon receipt of such bonds by the Secretary-Treasurer he is hereby authorized and directed to cancel and retire such bonds, together with their then outstanding interest coupons. Section Three. This Ordinance, being an appropriation Ordinance, shall take effect immediately upon its enactment. The foregoing Ordinance was adopted December 8, 1976.