HomeMy Public PortalAbout03993 O R D I N A N C E NO. 3993
AN ORDINANCE, appropriating Eighty-four Thousand Six
Hundred Thirty Dollars ($84,630.00) from the Missouri Bottoms
Connection Charge Account for the annual payment on the principal
due on the evidences of indebtedness given for the acquisition of
the Missouri Bottoms Sewer Company, for the year ending December
31, 1979, of which Eighty Thousand Five Hundred Eighty-three
Dollars and Seventy-five Cents ($80,583.75) is payable to the
holders of such evidences of indebtedness, and Four Thousand
Forty-six Dollars and Twenty-five Cents ($4,046.25) is a refund of
connection charges overpayment to the Brown Campus Management
Company and is to be credited to the District as a part of such
principal payment.
WHEREAS, the Agreement of Purchase and Sale by and
among The Metropolitan St. Louis Sewer District and the share-
holders of The Missouri Bottoms Sewer Company specified that the
District would pay for the acquisition of such company by two
evidences of indebtedness, which provided that payments on the
principal owed would be all the connection fees received during
each calendar year; and
WHEREAS, the District has received the sum of Eighty--
four Thousand Six Hundred Thirty Dollars ($84,630.00) for con-
nections made to the former Missouri Bottoms Sewer Company sewer
system during the year ending December 31, 1979; and
WHEREAS, as part of the settlement of a certain lawsuit
entitled Brown Campus Management Company vs. The Metropolitan St.
Louis Sewer District, the District is to pay to said Brown Campus
Management Company the sum of Four Thousand Forty-six Dollars and
Twenty-five Cents ($4,046.25) as a refund of overpayment of
connection fees made to the former Missouri Bottoms Sewer Company,
to which the District is successor, such sum being credited to the
District as part of the current year's payment on principal to the
holders of the evidences of indebtedness, to which such holders
have agreed.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The sum of Eighty-four Thousand Six
Hundred Thirty Dollars ($84,630.00) is hereby appropriated from
the Missouri Bottoms Connection Charges Account for the annual
payment on the principal due on the evidences of indebtedness
given for the acquisition of the Missouri Bottoms Sewer Company,
for the year ending December 31, 1979, of which Eighty Thousand
Five Hundred Eighty-three Dollars and Seventy-five Cents
($80,583.75) is to be paid to the holders of such evidences of
indebtedness, and Four Thousand Forty-six Dollars and Seventy-five
Cents ($4,046.75) is to be paid to the holders of such evidences
of indebtedness, and Four Thousand Forty-six Dollars and Twenty-
five Cents ($4,046.25) is to be paid as a refund of connection
charge overpayment to the Brown Campus Management Company and is
to be credited to the District as a part of such principal
payment.
Section Two. This ordinance, being an appropriation
ordinance, shall take effect immediately upon its enactment.
The foregoing Ordinance was adopted March 26, 1980. -2-