HomeMy Public PortalAboutR3036RESOLUTION 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