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
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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:
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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:
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(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.
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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.