HomeMy Public PortalAboutr2865RESOLUTION NO. 2865
RESOLUTION OF THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT
DETERMINING ITS INTENT TO REIMBURSE ITSELF FOR
CERTAIN CAPITAL EXPENDITURES.
WHEREAS, federal tax regulations require that when a municipal, tax exempt
entity seeks to reimburse itself for monies spent on capital projects from proceeds of tax exempt
obligations, the capital projects need to be identified in advance of the expenditures; and
WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District
(the “District”) has determined that it is necessary and in the best interest of the District to make
the capital expenditures described below and to reimburse itself for such expenditures with the
proceeds of bonds, notes or lease purchase obligations (“Obligations”).
BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT, AS FOLLOWS:
RESOLVED, that the District expects to make capital expenditures after the date
of this Resolution for the purpose of acquiring land and constructing, extending, renovating,
improving, furnishing and equipping the Lemay Wastewater Treatment Plant, the Creve Coeur
Pump Station, and inflow and infiltration improvements (the “Project”), and the District intends
to reimburse itself for such expenditures, to the extent permitted by law, with the proceeds of
Obligations.
FURTHER RESOLVED, that the maximum principal amount of Obligations
expected to be issued for the Project is $23,000,000.
The foregoing Resolution was adopted August 13, 2009.