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<br /> INTRODUCED: Mr. Crow DATE: February 13, 2012
<br /> BILL NO. 9151 ORDINANCE NO. 6884
<br /> AN ORDINANCE AUTHORIZING THE CITY OF UNIVERSITY CITY, 1
<br /> MISSOURI, TO ENTER INTO A LEASE PURCHASE TRANSACTION,
<br /> THE PROCEEDS OF WHICH WILL BE USED TO PAY THE COSTS OF
<br /> CURRENTLY REFUNDING THE CITY'S OUTSTANDING
<br /> CERTIFICATES OF PARTICIPATION (CITY OF UNIVERSITY CITY,
<br /> MISSOURI, LESSEE), SERIES 2003, AND ADVANCE REFUNDING
<br /> THE CITY'S OUTSTANDING CERTIFICATES OF PARTICIPATION
<br /> (CITY OF UNIVERSITY CITY, MISSOURI, LESSEE), SERIES 2004;
<br /> AND AUTHORIZING THE EXECUTION OF CERTAIN DOCUMENTS
<br /> AND ACTIONS IN CONNECTION THEREWITH.
<br /> WHEREAS, the City Council of the City of University City, Missouri (the "City"), desires to
<br /> authorize the delivery of Refunding Certificates of Participation (City of University City, Missouri, 1
<br /> Lessee), Series 2012 (the "Series 2012 Certificates") evidencing a proportionate interest of the owners
<br /> thereof in basic rent payments to be made by the City pursuant to an annually renewable lease purchase l
<br /> agreement, to obtain funds, together with other legally available funds of the City, to pay the costs of
<br /> (1)currently refunding all of the City's outstanding Certificates of Participation (City of University City,
<br /> Missouri, Lessee), Series 2003 (the "Series 2003 Certificates"); (2) advance refunding all of the City's
<br /> outstanding Certificates of Participation (City of University City, Missouri, Lessee), Series 2004 i
<br /> (the"Series 2004 Certificates," and together with the Series 2003 Certificates, the "Prior Certificates"),
<br /> the proceeds of said Prior Certificates having been used to pay the costs of(a) renovating, improving,
<br /> furnishing and equipping the City's police station, fire stations and City Hall; (b) constructing, renovating
<br /> and improving recreational facilities in the City's Heman Park; and (c) constructing, furnishing and
<br /> equipping a public parking garage; (3) funding a debt service reserve fund for the Series 2012
<br /> Certificates; and(4)executing and delivering the Series 2012 Certificates; and i
<br /> WHEREAS, the City owns the real property and the improvements now or hereafter located
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<br /> thereon, upon which a fire station, a public parking garage and a combined police and fire station are
<br /> located(the "Leased Property"); and
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<br /> WHEREAS, in order to facilitate the foregoing and to pay the cost thereof, it is necessary and
<br /> desirable for the City to take the following actions:
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<br /> 1. Enter into a Base Lease dated as of February 1, 2012 (the "Base Lease"),
<br /> with the City, as lessor, and The Bank of New York Mellon Trust Company, N.A., as
<br /> trustee (the "Trustee"), as lessee, pursuant to which the City will lease the Leased
<br /> Property to the Trustee on the terms and conditions set forth therein,the form of which is t'
<br /> attached hereto as Exhibit A;
<br /> 2. Enter into an annually-renewable Lease Purchase Agreement dated as of
<br /> February 1, 2012 (the"Lease"), with the Trustee, pursuant to which the City, as lessee,
<br /> will lease the Leased Property from the Trustee, as lessor, on a year-to-year basis with an
<br /> option to purchase the Trustee's interest in the Leased Property, the form of which is
<br /> attached hereto as Exhibit B;
<br /> 3. Enter into a Continuing Disclosure Undertaking dated as of February 1,
<br /> 2012 (the "Continuing Disclosure Undertaking"), pursuant to which the City agrees to
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