HomeMy Public PortalAbout05840 O R D I N A N C E NO. 5840
AN ORDINANCE, authorizing and directing the Executive
Director and Secretary-Treasurer on behalf of The Metropolitan St.
Louis Sewer District to borrow the sum of Six Hundred Thousand
Dollars ($600,000.00) from the Mark Twain St. Louis Bank, N.A. to
be used toward the purchase of certain real property in the City
of St. Louis, Missouri and St. Louis County, Missouri for use as
an ash disposal site.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Executive Director and Secretary-
Treasurer are hereby authorized and directed on behalf of The
Metropolitan St. Louis Sewer District to borrow the sum of Six
Hundred Thousand Dollars ($600,000.00) from the Mark Twain St.
Louis Bank, N.A. to be used toward the purchase of certain real
property in the City of St. Louis, Missouri and St. Louis County,
Missouri for use as an ash disposal site.
Section Two. The loan as authorized in Section One of
this ordinance shall be for a term of six (6) months commencing on
January 2, 1985 and terminating on June 30, 1985, with a rate of
interest of seventy-five percent (75%) of the prime rate of
interest plus a loan origination fee not to exceed one percent
(1%), and shall be comprised of such other terms and conditions as
are approved by the Director of Legal Services of the District.
The foregoing Ordinance was adopted December 26, 1984.