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HomeMy Public PortalAbout07535 O R D I N A N C E NO. 7535 AN ORDINANCE, amending Ordinance No. 7449, adopted May 11, 1988, by repealing Sections Twelve, Thirteen, Seventeen, Twenty-seven, Twenty-nine and Thirty-two, and enacting in lieu thereof new Sections Twelve, Thirteen, Seventeen, Twenty-seven, Twenty-nine and Thirty-two in order to correct clerical errors in said Sections, without, however changing the tax levies as adopted and specified therein; and further amending said Ordinance No. 7449, by revising the language of the "WHEREAS" clause insofar as said clause pertains to the Mississippi River Subdistrict on Pages 2 and 3 of said Ordinance; and repealing Section Three of said Ordinance, and enacting a new Section Three thereof, determining the amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property in the Mississippi River Subdistrict, with an emergency clause. BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section A. Sections Twelve, Thirteen, Seventeen, Twenty- seven, Twenty-nine and Thirty-two of Ordinance No. 7449, adopted May 11, 1988, are hereby repealed, and seven new Sections enacted in lieu thereof to read as follows: Section Twelve. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. 247 (DeSmet-Florland), as defined and delineated by District Ordinance No. 1729, adopted March 28, 1968, shall be Twelve Thousand Two Hundred Sixty-seven Dollars ($12,267.00), which sum will be produced by the rate of eight cents (.08) per one hundred dollars assessed valuation, and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Operation, Maintenance and Construction of Improvements $ 12,067.00 Anticipated Tax Delinquencies 200.00 Total Levy $ 12,267.00 Section Thirteen. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. 257 (Rayburn Avenue), as defined and delineated by District Ordinance No. 1316, adopted April 22, 1965, shall be Five Thousand Nine Hundred Seventy-two Dollars ($5,972.00), which sum will be produced by the rate of six cents (.06) per one hundred dollars assessed valuation, and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Operation, Maintenance and Construction of Improvements $ 5,772.00 Anticipated Tax Delinquencies 200.00 Total Levy $ 5,972.00 Section Seventeen. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all 3 taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. 367 (Deer Creek Stormwater Subdistrict), as defined and delineated by District Ordinance No. 2557, adopted March 27, 1974; and as enlarged by annexation thereto of the areas described in District Ordinance No. 2611, adopted June 26, 1974, shall be One Million Three Thousand Eight Hundred Fifty-One Dollars ($1,003,851.00), which sum will be produced by the rate of six cents (.06) per one hundred dollars assessed valuation, and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Operation, Maintenance and Construction of Improvements $ 1,002,851.00 Anticipated Tax Delinquencies 1,000.00 Total Levy $ 1,003,851.00 Section Twenty-seven. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. 453 (Shrewsbury Branch of River des Peres), as defined and delineated by District Ordinance No. 3484, adopted April 12, 1978, shall be Eight Thousand Nine Hundred Twenty-four Dollars ($8,924.00), which sum will be produced by the rate of six cents (.06) per one hundred dollars assessed valuation, and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as 4 follows: Operation, Maintenance and Construction of Improvements $ 8,824.00 Anticipated Tax Delinquencies 100.00 Total Levy $ 8,924.00 Section Twenty-nine. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. 455 (Black Creek), as defined and delineated by District Ordinance No. 3486, adopted April 12, 1978, shall be Three Hundred Eighty-four Thousand Two Hundred Twenty-eight Dollars ($384,228.00), which sum will be produced by the rate of six cents (.06) per one hundred dollars assessed valuation, and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Operation, Maintenance and Construction of Improvements $ 383,228.00 Anticipated Tax Delinquencies 1,000.00 Total Levy $ 384,228.00 Section Thirty-two. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property within that part of the corporate limits of St. Louis County lying within Subdistrict No. Seven of the River des Peres Watershed (Wellston Area), as defined and delineated by District Ordinance No. 409, adopted June 16, 1960, and as such part was enlarged by District Ordinance 5 No. 2497, adopted November 8, 1973, shall be Thirty-six Thousand Three Hundred Four Dollars ($36,304.00), which sum will be produced by the rate of eight cents (.08) per one hundred dollars assessed valuation and which sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Operation, Maintenance and Construction of Improvements $ 35,704.00 Anticipated Tax Delinquencies 600.00 Total Levy $ 36,304.00 Section B. The District hereby finds and determines that the moneys currently set aside to pay principal and interest on the outstanding general obligation bonds of the Mississippi River Subdistrict are not adequate to provide sufficient reserves for such payments. Section C. The "WHEREAS" clause of Ordinance No. 7449, adopted May 11, 1988, insofar as said clause pertains to the Mississippi River Subdistrict on Pages 2 and 3 of said Ordinance is hereby amended to read as hereinafter specified; and Section Three of said Ordinance is hereby repealed, and a new Section enacted in lieu thereof to read as follows: In The Mississippi River Subdistrict Four Million Forty-three Thousand Thirty-six Dollars ($4,043,036.00), which sum will be realized by the rate of six cents (.06) per one hundred dollars assessed valuation on property in the Subdistrict within the corporate limits of the City of St. Louis and within 6 that part of the corporate limits of St. Louis County lying within that Subdistrict; Section Three. Mississippi River Subdistrict. The amount of taxes which shall be levied, assessed and collected in the year 1988 on all taxable tangible property in the Mississippi River Subdistrict shall be Four Million Two Hundred Twenty- two Thousand Four Hundred Thirty-six Dollars ($4,222,436.00), which sum will be produced by the rate of six cents (.06) per one hundred dollars assessed valuation. Said sum is required during the fiscal year beginning July 1, 1988, for the purposes and in amounts as follows: Anticipated Bond Interest and Principal Payments and Reserves $ 4,043,036.00 Anticipated Tax Delinquencies 179,400.00 Total Levy $ 4,222,436.00 and said total levy shall be apportioned between the City of St. Louis and St. Louis County, as provided hereinafter. 1. Property in City of St. Louis. Of said total sum One Million Five Hundred Sixty-seven Thousand Two Hundred Twenty- five Dollars ($1,567,225.00), shall be levied, assessed and collected in the year 1988 on taxable tangible property in said Subdistrict within the corporate limits of the City of St. Louis. 2. Property in St. Louis County. Of said total sum Two Million Six Hundred Fifty-five Thousand Two Hundred Eleven Dollars ($2,655,211.00) shall be levied, assessed and collected in the year 1988 on taxable tangible property 7 within that part of St. Louis County lying within said Subdistrict, as such part is described in District Ordinance No. 3754, adopted April 11, 1979. Section D. This Ordinance is for the determination of the amount of certain taxes which are essential to the operation of the District, and the levy, assessment and collection of said taxes must proceed expeditiously and without delay, thus creating an emergency within the meaning of the Plan. Accordingly, this Ordinance shall take effect immediately upon its enactment. 8 The foregoing Ordinance was adopted August 24, 1988.