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P INTRODUCED BY: Mr. Price DATE: February 13, 2012 BILL NO. 9150 ORDINANCE NO. 6883 g AN ORDINANCE ESTABLISHING THE DELMAR/ DELCREST COMMUNITY IMPROVEMENT DISTRICT AND MAKING NECESSARY FINDINGS AND AUTHORIZING CERTAIN ACTIONS RELATED THERETO. WHEREAS, Mo. Rev. Stat. §67.1400 et seq. (the "CID Act") authorizes and empowers the City of University City, Missouri (the "City"), by and through its City Council, to establish a community improvement district as proposed by a verified petition of property owners; and 5 WHEREAS, on December 9, 2011, a Petition for the Formation of a Community Improvement District (the "Petition"), signed by authorized representatives of more than fifty percent by assessed value and per capita within the area of the proposed community improvement district (the "District") as legally described in the Petition, was filed with the City Clerk; and WHEREAS, the City Clerk has reviewed and determined that the Petition substantially complies with the requirements of the CID Act and has verified said Petition in accordance with the requirements of the CID Act; and WHEREAS, after notice of the public hearing by publication and waiver of notice to by each property owner within the proposed District, a public hearing was held on January 23, 2012 regarding creation of the District, in accordance with the CID Act; and WHEREAS, subject to and in accordance with the CID Act and the Petition, the District intends to impose a district-wide sales tax at the rate of one (1) percent, pursuant to Section 67.1545 of the CID Act (the "CID Sales Tax") to fund transportation and other permissible District improvements as provided in the Petition; and WHEREAS, the Petition requests that the District be created with any and all powers and authority as provided by the CID Act; and WHEREAS, the City Council hereby finds that the adoption of this Ordinance is in the best interest of the City and that the property owners, residents, and persons engaging in business or visiting the District, and the public generally, will benefit by the establishment of said District; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City Council hereby finds that the uses of the District proceeds as provided in the Petition will serve a public purpose by installation of a publicly owned traffic signal at the intersection of Delmar Boulevard and Delcrest Drive. r z ?gg S Page I of 3 i'