Loading...
HomeMy Public PortalAbout08962 O R D I N A N C E NO. 8962 AN ORDINANCE, authorizing participation by the District in the SRF Program, as herein described, authorizing execution by the Executive Director and Secretary-Treasurer of the District of a Program Participation Agreement and a Second Amendment to the Revolving Fund Agreement in connection therewith, approving the form of certain other documents, directing the deposit of grants and other funds received by the District from participation in the SRF Program in the Clean Water Capital Improvement Trust Fund, and providing further authority as necessary to participate in the SRF Program. WHEREAS, the Federal Water Quality Act of 1987, 33 U.S.C. Section 1381 et seq. (the "Federal Act"), authorizes the administrator of the United States Environmental Protection Agency (the "EPA") to make capitalization grants to states for deposit in state water pollution control revolving funds to provide assistance for constructing publicly-owned wastewater treatment works and for certain other purposes; and WHEREAS, EPA has made available $53 million in capitalization grants to the State of Missouri for such purposes; and WHEREAS, Section 644.122 Revised Statutes of Missouri, as amended (the "State Act"), established "The Wastewater Loan Fund" in the Treasury of the State of Missouri for deposit of the EPA capitalization grants and state matching funds; and WHEREAS, the State Environmental Improvement and Energy 2 Resources Authority, a body corporate and politic and a governmental instrumentality of the State of Missouri (the "Authority"), in conjunction with the Missouri Department of Natural Resources (the "DNR"), has established the Missouri Leveraged State Water Pollution Control Revolving Fund Program (the "SRF Program") to provide assistance for constructing publicly-owned wastewater treatment works and for certain other purposes pursuant to the Federal Act and the State Act; and WHEREAS, under the SRF Program the Authority will issue notes to provide funds to assist eligible projects and will establish a reserve fund to secure such notes, which reserve fund will be funded by federal capitalization grants and state matching funds in the Wastewater Loan Fund; and WHEREAS, the DNR and the Authority have presented a proposal to The Metropolitan St. Louis Sewer District (the "District") to participate in the SRF Program in conjunction with the construction of eligible wastewater treatment works and in conjunction with such participation, the DNR will provide grants to the District of approximately $15 million; and WHEREAS, the District is desirous of participating in the SRF Program to obtain such grants and other benefits of the SRF Program to the District, its ratepayers, and the State of Missouri. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: 3 Section One. The Executive Director, Secretary- Treasurer and other appropriate officers of the District are hereby authorized to enter and execute on behalf of the District the following documents in substantially the forms attached to this Ordinance, with such modifications and revisions therein as are consistent with the provisions of this Ordinance, and are approved by the General Counsel of the District and the officers executing same, such officers' signatures thereon being conclusive evidence of the approval thereof (the "District Documents"): (A) Program Participation Agreement, dated as of June 1, 1993, among the Authority, the DNR, and the District, in substantially the form attached hereto as Exhibit A; and (B) Second Amendment to the Revolving Fund Agreement, dated as of June 1, 1993, among the Authority, the DNR, and the District, in substantially the form attached hereto as Exhibit B. Section Two. The District hereby approves the following documents in substantially the forms attached to this Ordinance with such revisions and modifications therein as are consistent with the provisions of this Ordinance, and are approved by the Executive Director, such officer's signature on the District Documents being conclusive evidence of the approval thereof: 4 (A) Note Indenture, dated as of June 1, 1993, between the Authority and Mercantile Bank of St. Louis National Association, as Trustee (the "Trustee"), pursuant to which the Authority will issue not to exceed $50,000,000 of it Water Pollution Control Revenue Notes (State Revolving Fund Program) Series 1993A (the "Notes") to provide funds in connection with the District's participation in the SRF Program, in substantially the form attached hereto as Exhibit C; and (B) Preliminary Official Statement of the Authority relating to the Notes, substantially in the form attached hereto as Exhibit D. Section Three. The Executive Director, Secretary- Treasurer, General Counsel, and other appropriate officers, agents and employees of the District are hereby authorized and directed to take such further actions, and execute those other documents, certificates and instruments as may be necessary and desirable to carry out and comply with the District's participation in the SRF Program and the intent of this Ordinance and to carry out and comply with and perform the duties of the District with respect to the District Documents. 5 Section Four. The state grants received by the District from participation in the SRF Program shall be deposited into the District's Clean Water Capital Improvement Trust Fund. The foregoing Ordinance was adopted May 12, 1993.