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r2802RESOLUTION NO. 2802 WHEREAS, based on preliminary election results, on August 5, 2008, the voters of St. Louis City and St. Louis County have authorized The Metropolitan St. Louis Sewer District to issue Two Hundred-Seventy-five Million Dollars ($275,000,000.00) in Sanitary Revenue Bonds, 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, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, That with respect to the issuance of Two Hundred Seventy-Five Million Dollars ($275,000,000.00) in Sanitary Revenue Bonds, the District pursue 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, 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 August 14, 2008.