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HomeMy Public PortalAbout06597 O R D I N A N C E NO. 6597 AN ORDINANCE, transferring all funds in the Principal (or Bond) and Interest Fund of Subdistrict No. 221 (North Kinloch) and any moneys received or to be received by said Fund, to the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 221 (North Kinloch), to be used within that subdistrict for sanitary and storm sewer improvements. WHEREAS, all of the general obligation bonds and interest coupons thereon for such Subdistrict No. 221 (North Kinloch), which were authorized by and issued pursuant to Ordinance No. 1558, adopted November 10, 1966, have been paid and redeemed, and there is no further obligation of such subdistrict concerning such bonds or coupons, and WHEREAS, the fund known as the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 221 (North Kinloch) is composed of moneys derived from and used for the benefit of the identical area from which the moneys in the Principal (or Bond) and Interest Fund of Subdistrict No. 221 (North Kinloch) were derived, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. All funds now in the Principal (or Bond) and Interest Fund of Subdistrict No. 221 (North Kinloch), together with any sums derived or to be derived from the collection of delinquent taxes, or from any other sources for such Fund, are hereby transferred to the Operation, Maintenance and Construction Improvement Fund of Subdistrict No. 221 (North Kinloch), to be used for sanitary and storm sewer improvements within that subdistrict. The foregoing Ordinance was adopted June 25, 1986.