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BILL NO. 8185 INTRODUCED BY' COUNCILMI~fBER WAGNER ORDINANCE NO. 5970 AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND DELIVERY OF $4,475,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS, SERIES 1994, OF THE CITY OF UNIVERSITY CITY, MISSOURI; PRESCRIBING THE FORM AND DETAILS OF SAID BONDS; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND ]iNTEREST ON SAID BONDS AS THEY BECOME DUE; AND AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH. WHEREAS, the City of University City, Missouri (the "City"), is a municipal corporation and constitutional charter city operating under a home rule form of government duly created, organized and existing under and by virtue of the Constitution and laws of the State of Missouri; and WHEREAS, the City is authorized under the provisions of Article VI, Section 26 of the Constitution of Missouri, 1945, as amended, and Section 95.115 et seq. of the Revised Statutes of Missouri, 1986, as amended, to incur indebtedness and issue and sell general obligation bonds of the City to evidence such indebtedness for lawful purposes, upon obtaining the approval of at least four-sevenths the qualified electors of the City voting on the question to incur indebtedness at a special election; and WHEREAS, pursuant to such authority, an election was duly held in the City on Tuesday, April 5, 1994, on the following propositions: PROPOSITION B Shall the City of University City, Missouri, issue its general obligation bonds in the amount of $1,801,870 for the purpose of construering and improving streets and alley~ in the City? PROPOSITION C Shall the City of University City, Missouri issue its general obligation bonds in the amount of $810,000 for the purpose of acquiring, constructing, expanding, repairing, improving and equipping parks in the City? PROPOSITION D Shall the City of University City, Missouri issue its general obligation bonds in the amount of $760,000 for the purpose of acquiring, constructing and improving properties in Delmar Loop East Business District, including parking facilities and building rehabilitation, for the purpose of promoting economic development?