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HomeMy Public PortalAbout03826 O R D I N A N C E NO. 3826 AN ORDINANCE, appropriating One Hundred Ten Thousand Dollars ($110,000.00) from the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 449 (Meramec River Basin - M.S.D. Southwest) as an advance to pay the closing costs and down payment to the stockholders for the purchase of all the issued and outstanding capital stock of the Fenton Sewer Company, pursuant to the Agreement of Purchase and Sale as authorized by Ordinance No. 3756, adopted April 11, 1979, and directing the repayment of said advance. BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. The sum of One Hundred Ten Thousand Dollars ($110,000.00) is hereby appropriated from the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 449 (Meramec River Basin - M.S.D. Southwest) as an advance to pay the closing costs and down payment to the stockholders for the purchase of all the issued and outstanding capital stock of the Fenton Sewer Company, pursuant to the Agreement of Purchase and Sale as authorized by Ordinance No. 3756, adopted April 11, 1979. Section Two. The officers of the District are hereby directed to repay to the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 449 (Meramec River Basin - M.S.D. Southwest) the One Hundred Ten Thousand Dollars ($110,000.00) as hereby appropriated as funds become available from the operation of the Fenton Sewer Company Service Area. Section Three. This Ordinance, being an appropriation Ordinance, shall take effect immediately upon its enactment. The foregoing Ordinance was adopted July 25, 1979.