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R2507R E S O L U T I O N NO. 2507 WHEREAS, Section 7.040 of the Charter of The Metropolitan St. Louis Sewer District established the Rate Commission to review and make recommendations to the Board of Trustees regarding all proposed changes in the District’s wastewater rates and stormwater rates; and WHEREAS, the District, on May 16, 2002, referred proposed rate changes in the wastewater rates for review by the Rate Commission, and WHEREAS, upon review and consideration pursuant to Section 7.280(f) of the Charter, on October 28, 2002,the Rate Commission delivered its Rate Recommendation Report dated October 25, 2002, to the Board of Trustees; and WHEREAS, the Rate Commission presented its Rate Recommendation Report dated October 25, 2002 to the Board of Trustees on November 14, 2002; and WHEREAS, pursuant to Resolution No. 2479 adopted by the Board of Trustees on December 13, 2002, the Board of Trustees accepted the Rate Commission’s Rate Recommendation Report; and WHEREAS, pursuant to the adoption of Ordinance 11423 on January 23, 2003, the Board authorized the placement of a proposed revenue bond issue on the April 8, 2003 ballot; WHEREAS, on March 6, 2003, three new members of the Board of Trustees were appointed by the Mayor of St. Louis and two new members by the St. Louis County Executive; and WHEREAS, on March 10, 2003, the new Board of Trustees adopted Ordinance NO. 11459 authorizing the removal of the proposed revenue bond issue from the April, 2003 ballot, and directed District staff to consider the effect of a delayed revenue bond issue on wastewater rates; and WHEREAS, on March 27, 2003, the Board of Trustees considered certain wastewater rate change amendments for submittal to the Rate Commission; and WHEREAS, the District, on April 4, 2003, referred proposed rate change amendments to the wastewater rates (the “Amendments”) for review by the Rate Commission; and WHEREAS, upon review and consideration pursuant to Section 7.280(f) of the Charter on May 22, 2003, the Rate Commission presented its Rate Recommendation Report dated May 19, 2003 to the Board of Trustees; and WHEREAS, to finance the District’s Capital Improvement Program and the attendant cost of operation and maintenance, the Rate Commission has approved the District’s Amendments raising wastewater rates this summer. Furthermore, the Board of Trustees are in agreement with the Rate Commission’s Rate Recommendation Report and independent of said Report, the Board of Trustees would present to the voters a bond initiative of a Five Hundred Million ($500,000,000.00) revenue bond issue, WHEREAS, the Board of Trustees hereby wishes to accept the rate Commission’s Report dated May 19, 2003. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, THAT the board hereby accepts the Rate Commission’s Recommendation Report dated May 19, 2003. The foregoing Resolution was adopted June 12, 2003.