6884 - Laserfiche WebLink

Home Browse Search

Termination of 2003 Lease, the Termination of First Supplemental Base Lease and the Termination of First Supplemental Lease are referred to together herein as the"City Documents." NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY,MISSOURI,AS FOLLOWS: Section 1. Approval of Delivery of the Series 2012 Certificates. The City hereby approves the delivery of the Series 2012 Certificates in the original principal amount of$7,020,000. The Series 2012 Certificates shall be delivered and secured pursuant to the herein approved Declaration of Trust. The Series 2012 Certificates shall be dated the date of their original execution and delivery, shall become due on February 1 in the years and in the respective amounts and shall bear interest from the date thereof payable semiannually on February 1 and August 1, beginning August 1, 2012, at the rates per annum, as follows: SERIAL CERTIFICATES Payment Date Principal Interest (February 1) Amount Rate 2013 $ 825,000 0.550% 2014 865,000 0.650 2015 875,000 0.800 2016 880,000 0.950 2017 895,000 1.150 2018 790,000 1.350 2019 795,000 1.650 2020 1,095,000 1.900 The sale of the Series 2012 Certificates to the Underwriter at a purchase price of$6,972,966.00 (consisting of the original principal amount of the Series 2012 Certificates, less underwriting discount of $47,034.00), plus accrued interest, if any, to the date of delivery, is hereby ratified and confirmed. Delivery of the Series 2012 Certificates shall be made to the Underwriter as soon as practicable after the adoption of this Ordinance, upon payment therefore in accordance with the terms of the sale. The Series 2012 Certificates shall be in such denominations, shall be in such forms, shall be subject to extraordinary { optional prepayment prior to the stated payment dates thereof, shall have such other terms and provisions, and shall be executed and delivered in such manner subject to such provisions, covenants and agreements as are set forth in the Declaration of Trust. Section 2. Authorization and Approval of City Documents and Declaration of Trust. The City Documents and the Declaration of Trust are hereby approved in substantially the forms submitted to and reviewed by the City Council on the date hereof, with such changes therein as are approved by the officers of the City executing such documents, provided that such changes are in substantial conformity with the form of documents approved by the City Council, such officers' signatures thereon being conclusive evidence of their approval. The obligation of the City to pay Basic Rent Payments (as defined in the Lease) under the Lease is subject to annual appropriation and will constitute a current expense of the City and will not in any way be construed to be an indebtedness or liability of the City in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness or liability by the City, nor -3- i i