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BILL NO. 8718
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<br />ORDINANCE NO. {0~/. t~-
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<br />AN ORDINANCE APPROVING THE DELIVERY OF $6,245,000
<br />PRINCIPAL AMOUNT OF CERTIFICATES OF
<br />PARTICIPATION (CITY OF UNIVERSITY CITY, MISSOURI,
<br />LESSEE), SERIES 2004, FOR THE PURPOSE OF PROVIDING
<br />FUNDS TO PAY Tl:l-E COSTS OF A PROJECT IN THE CITY OF
<br />UNIVERSITY CITY, MISSOURI; AUTHORIZING AND
<br />APPROVING CERTAIN DOCUMENTS IN CONNECTION WITH
<br />THE DELIVERY OF THE CERTIFICATES; AND
<br />AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION
<br />WITH TI~ DELIVERY OF THE CERTIFICATES.
<br />
<br /> WHEREAS, the City Council finds and determines that it is advantageous and in the best
<br />interests of the City of University City, Missouri (the "City") that the City enter into certain transactions
<br />with BNY Trust Company of Missouri, as trustee (the "Trustee"), relating to the delivery of $6,245,000
<br />principal amount of Certificates of Participation (City of University City, Missouri, Lessee), Series 2004
<br />(the "Certificates"), for the purpose of (1) renovating, improving, furnishing and equipping the City's police
<br />station, fire stations and City Hall and providing additional funds to complete the construction, renovation and
<br />improvement of recreational facilities in the City's Heman Park (collectively, the "Project"); (2) funding a
<br />debt service reserve account for the Certificates; and (3) paying the costs of delivering the Certificates;
<br />and
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<br /> WltEREAS, in connection with the delivery of the Certificates, the City Council finds it
<br />necessary to authorize the execution of (1) a First Supplemental Base Lease dated as of July 1, 2004 (the
<br />"First Supplemental Base Lease"), amending and supplementing the Base Lease dated as of November 1,
<br />2003 (the "Original Base Lease" and together with the First Supplemental Base Lease, the "Base Lease"),
<br />between the City and the Trustee, pursuant to which the City will lease certain real property (the "Leased
<br />Property") to the Trustee and to extend the maximum term thereof for rent including the deposit of the
<br />funds specified therein to pay the costs of the Project; and (2) a First Supplemental Lease/Purchase
<br />Agreement dated as of July 1, 2004 (the "First Supplemental Lease"), amending and supplementing the
<br />Lease/Purchase Agreement dated as of November 1, 2003 (the "Original Lease" and together with the
<br />First Supplemental Lease, the "Lease") pursuant to which the Trustee will lease the Leased Property back
<br />to the City on an annually renewable basis and the City will make payments of Base Rentals to the
<br />Trustee that will be sufficient, during any term of the Lease, to pay the principal of, premium, if any, and
<br />interest distributable with respect to the Certificates as the same become due;
<br />
<br /> NOW, THEREFORE, BE IT ORDAINED BY TI:IE COUNCIL OF THE CITY OF
<br />UNIVERSITY CITY, MISSOURI, AS FOLLOWS:
<br />
<br /> Section 1. Approval of Delivery of the Certificates. The City hereby approves the delivery of
<br />$6,245,000 principal amount of Certificates of Participation (City of University City, Missouri, Lessee),
<br />Series 2004 (the "Certificates"), for the purpose of providing funds to (a) pay the costs of the Project, (b)
<br />fund a debt service reserve account with respect to the Certificates, and (c) pay the costs of delivering the
<br />Certificates. The Certificates shall be delivered and secured pursuant to the herein approved Indenture.
<br />The Certificates shall be dated July 1, 2004, shall become due on February 1 in the years and in the
<br />respective amounts and shall bear interest from the date thereof payable semiannually on February 1 and
<br />August 1, beginning February 1, 2005, at rates per annum as follows:
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