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R3036RESOLUTION NO. 3036 WHEREAS, based on certified election results, on June 5, 2012, the voters of St. Louis City and St. Louis County have authorized The Metropolitan St. Louis Sewer District to issue Nine Hundred Forty Five Million Dollars ($945,000,000.00) in Sanitary Revenue Bonds and supported the District Charter Plan Amendments, and WHEREAS, the District is desirous of issuing said Revenue Bonds in a timely manner, and WHEREAS, the District is further desirous of providing fair and equitable user rates to its customers, and WHEREAS, the approved Charter Plan Amendments will enhance the District's ability to provide adequate sewer and drainage facilities within its boundaries, and WHEREAS, the mandates expressed by the voters in this election will be implemented by the District as expeditiously as possible. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, that with respect to the issuance of Nine Hundred Forty Five Million Dollars ($945,000,000.00) in Sanitary Revenue Bonds, the District pursues a plan to initially issue Fixed Rate Debt with a maximum maturity of 30 years, maximize the use of low-cost State Revolving Fund (SRF) Debt to the extent available, and accept the recommendations made by the Financing Team regarding the Bond Covenants. The Finance Team is also directed to further analyze the timing and amounts of debt issued to attain the lowest borrowing cost and report those results to the Finance Committee and the Board of Trustees for their consideration. The foregoing Resolution was adopted June 14, 2012 by the following vote – Ayes – E. Ross, A. Mandel, J. Goffstein, R. Berry, J. Buford, M. Yates. Nays – None. Secretary-Treasurer