Board Bill Number 59 In Session 2019-2020

Tax Increment Revenue Notes for St. Louis Innovation District

Summary

An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing the issuance, reissuance and delivery of one or more series of tax increment revenue notes, including (a) increasing the not to exceed principal amount of previously-issued RPA 5 tax increment revenue notes (St. Louis Innovation District/RPA 5 Project), Series B (the "RPA 5 Series B Notes"), from an original aggregate principal amount of $2,000,000, plus issuance costs, to an aggregate principal amount not to exceed $7,200,000, plus costs of issuance, for certain Reimbursable Redevelopment Project Costs associated with Redevelopment Project Area 5 of the St. Louis Innovation District Redevelopment Area; and (b) tax increment revenue notes (St. Louis Innovation District/Area-wide Projects), Series 2019 (the "Area-wide Series 2019 Notes"), in an aggregate principal amount not to exceed $42,000,000, plus costs of issuance, for certain Reimbursable Redevelopment Project Costs associated with the Redevelopment Area-wide Projects; authorizing and directing the Mayor and the Comptroller to execute and deliver the Amended and Restated Fourth Supplemental Trust Indenture in connection with the reissuance of the RPA 5 Series B Notes, and to execute and deliver the Seventh Supplemental Trust Indenture in connection with the issuance of the Area-wide Series 2019 Notes; designating the trustee for such notes; authorizing and directing the taking of other actions and approval and execution of other documents as necessary or desirable to carry out and comply with the intent hereof; superseding provisions of prior ordinances of the City to the extent inconsistent with the terms hereof; and containing a severability clause.

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Overview

Session: 2019-2020

Primary Sponsors: Joseph D Roddy

Ordinance: 71015 effective 08/26/2019

Committee: Housing, Urban Development and Zoning

Legislative History

Legislative activities for this board bill. Learn more about what these activities mean.

  • 06/07/2019

    First Reading

  • 06/28/2019

    Second Reading

  • 07/03/2019

    Perfection

  • 07/12/2019

    Third Reading

Votes

07/12/2019 Vote Results

Aye Votes 25
No Votes 1
Final Passage Vote

View vote details

Ordinance

Ordinance Number: 71015

Effective Date: 08/26/2019

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