HomeMy Public PortalAbout03557 O R D I N A N C E NO. 3557
AN ORDINANCE, appropriating Nine Thousand Forty-eight
Dollars and Forty-nine Cents ($9,048.49) from the General Fund of
the District for the semi-annual payment of interest due on the
evidence of indebtedness given for the acquisition of the Missouri
Bottoms Sewer Company, for the period from January 1, 1978 to June
30, 1978.
WHEREAS, the Agreement of Purchase and Sale by and
among The Metropolitan St. Louis Sewer District and the
shareholders of The Missouri Bottoms Sewer Company specified that
the District would pay for the acquisition of such company by two
notes, bearing interest at six percent (6%), payable June 30 and
December 31 of each year on the unpaid balance; and
WHEREAS, the Missouri Bottoms Operating Fund has
inadequate cash on hand, and the advancement of such sum is
necessary for said interest payment, which sum should be repaid to
the General Fund of the District when such money becomes
available,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The sum of Nine Thousand Forty-eight
Dollars and Forty-nine Cents ($9,048.49) is hereby appropriated
from the General Fund of the District for the semi-annual payment
of interest due on the evidence of indebtedness given for the
acquisition of the Missouri Bottoms Sewer Company, for the period
from January 1, 1978 to June 30, 1978.
Section Two. Upon receipt of adequate funds by the
Missouri Bottoms Operating Fund, such sums will be repaid to the
General Fund of the District.
Section Three. This ordinance, being an appropriation
ordinance, shall take effect immediately upon its enactment. The foregoing Ordinance was adopted July 26, 1978.
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