Loading...
HomeMy Public PortalAboutR0312 R E S O L U T I O N NO. 312 WHEREAS, The Metropolitan St. Louis Sewer District has the contractual right to purchase all of the capital stock of Russell & Company, a corporation owning and operating a system of sanitary sewers and a sewage treatment plant within the District in a watershed identifiable as the Crestwood area, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES that the purchase of all of the capital stock of said company is necessary in the interest of the public health, safety and welfare, and that such purchase is in the public interest because of favorable terms and because it is the only currently feasible means of obtaining said sewer facilities for public use. BE IT FURTHER RESOLVED, that the Executive Director be and he hereby is authorized and directed to enter into such agreement or agreements in behalf of the District as may be necessary to conclude the purchase of the capital stock of said Russell & Company on the terms hitherto duly agreed upon by contract, to obtain possession thereof, and to devise a plan for the liquidation of said company at the earliest practicable date. BE IT FURTHER RESOLVED, that the Executive Director be and he hereby is authorized and directed forthwith to execute in behalf of the District, with the attest of the Secretary- Treasurer, an agreement substantially in the form annexed hereto and marked "Exhibit A to Resolution No. 312". The foregoing Resolution was adopted on June 16, 1960.