Board Bill Number 8 Votes In Session 2024-2025

Board Bill

This Board Bill seeks to authorize and direct the issuance of up to Twenty Five Million Dollars ($25,000,000) principal amount of City Parks Leasehold Improvement Dedicated Revenue Refunding Bonds, Series 2024 (the “Bonds”) by the St. Louis Municipal Finance Corporation. The issuance of the Bonds will result in a decrease in the City’s debt service payment obligations. The Bonds will be secured and payable solely from Dedicated Revenues. Subject to an annual maximum, Dedicated Revenues include each of the following: (i) 6.579 percent the Capital Improvement Sales Tax revenues received by The City of St. Louis, Missouri (the “City”); (ii) 15.5 percent of the City’s share of revenues from the Metropolitan Park and Recreation District Capital Improvements Sales Tax; and (iii) $1,200,000 of the City’s share of revenues from the Metro Parks Sales Tax, excluding the amount dedicated to Forest Park. Proceeds from the sale of the Bonds will be used to: (1) refund all or a portion of previously issued city parks bonds, (2) provide for the funding of any required debt service reserve fund, and (3) pay the costs associated with issuing the Bonds, including premiums for any bond insurance or surety.

View Board Bill 8 details

05/23/2024 Final Passage Vote Results