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BILL NO. INTRODUCED BY COUNCILMEMBER METCALFE 7442 ORDINANCE NO. 5247 AN ORDINANCE ESTABLISHING THE UNIVEPaITY CITY LOOP SPECIAL BUSINESS DISTRICT, SETTING ITS BOUNDAN, IES, INITIAL TAX LEVY, INCREASED MERCHANTS' LICENSES, BONDING AUTHORITY, USES TO WliICH REVENUE MAY BE PUT, AND CREATING AUNIVERSITY CITY LOOP SPECIAL BUSINESS DISTRICT ADVISORY COMMISSION. WHEREAS, a survey and investigation on the desirability and possibil- ity of forming a Special Business District in the University City Loop has been conducted and a written report of such activity is on file in the office of the City Clerk; and WHEREAS, a petition reciting the proposed maximtun tax rates and signed by more than one property owner has been presented to the University City, City Council in favor of forming a Special Business District in the University City Loop~ and WHEREAS, the University City, City Council did at 9:00 P.M. on July 28, 1980 pass Resolution No. 1 in favor of forming such a district and call- ing for a public hearing on the matter~ and WHEREAS~ the public hearing was held at 8:00 P.M. on September 22~ 1980 by the University City, City Council. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. Scope: It is the intention of the City Council to estab- lish a University City Loop Special Business District, as a mechanism whereby local merchants and property owners can collectively enhance their environment and promote retail trade activities, as provided by Chapter 71, Sections 71.790 through 71.808 inclusive, of the Missouri Revised Statutes. Section 2. Definitions: A.Advisory Consnlssion - means the University City Loop Special Business District Advisory Connission. B. City - means the City of University City, Missouri. C. City Council - means the City Council of the City of University City~ Missouri. D.District - means the University City Loop Special Busi- ness District. E. Special Business District - means a body corporate and politic, and a political subdivision of the State of Missouri, whose main purpose is the improvement of the environment and the promotion of business in the area it encompasses, as authorized by Chapter 71, Sections 71.790 through 71.808 inclusive, of the IRssouri Revised Statutes. Section 3. Boundaries: A Special Business District, to be known as the "University City Loop Special Business District," is hereby established for