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Juvenile Detention Center Debt Information
The Juvenile Detention Center Bonds were issued to fund various capital improvements at the City Juvenile Detention Center and at certain other sites within the City.
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Important Note
All of the information set forth below is historical and subject to change. Investors must read the entire final official statement ("OS"), as well as any updated information regarding these bonds made available by the City of St. Louis (the "City") at the Municipal Securities Rulemaking Board's Electronic Municipal Market Access ("EMMA") website www.emma.msrb.org, to obtain the information essential to the making of an informed investment decision.
Project Description
The Juvenile Detention Center Bonds were issued to fund various capital improvements at the City Juvenile Detention Center and at certain other sites within the City. The City Juvenile Detention Center is a secure facility where juveniles are detained by order of the Juvenile Court pending a hearing on delinquency matters. In addition to residential units, the City Juvenile Detention Center consists of: a medical unit which provides basic medical and dental care as well as mental health service; the Griscom School which is staffed by the St. Louis Board of Education and provides temporary, ongoing elementary through high school education; and housekeeping and food services units. In addition, residents participate in a variety of programs and activities designed to provide youth with positive experiences.
The City Juvenile Detention Center has a residential capacity of 139 and residents range in age from 11-17 years.
Bondholder Security
The Juvenile Detention Center Bonds are special obligations of the St. Louis Municipal Finance Corporation (the "Corporation"), payable solely out of rentals and additional rental payments derived by the Corporation from leasing the City Juvenile Detention Center to the City. The City has covenanted, subject to annual appropriation, to pay rental and additional rental payments at such times and in such amounts as are necessary to prevent default in the payment of principal, or premium, if any, and interest on the Juvenile Detention Center Bonds. The City's payments are subject to annual appropriation by the City. If the City fails to budget and appropriate funds for payments in any fiscal year, the lease will terminate at the end of the fiscal year for which funds have been appropriated and the City will be required to vacate the property.
For a more detailed description of the security for the Juvenile Detention Center Bonds, please refer to the Official Statement for the relevant series of bonds (links provided below) and to www.emma.msrb.org for any Continuing Disclosure Updates and Material Event Filings.
Bonds Outstanding
There is currently outstanding the following one (1) series of Juvenile Detention Center Bonds with an aggregate principal amount of $16,520,000 as follows:
| Issuer | Series | New Money/Refunding | Par Outstanding | Final Maturity |
|---|---|---|---|---|
| St. Louis Municipal Finance Corporation | 2017B | Refunding | $16,520,000 | June 1, 2038 |
Debt Service on Outstanding Bonds
Official Statements
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