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BULLET St. Louis City Revised Code Chapter 17.99 Parking Commission Finance Corporation

St. Louis City Revised Code (annotated) has been converted to electronic format by the staff of the St. Louis Public Library. This electronic version has been done for the interest and convenience of the user. These are unofficial versions and should be used as unofficial copies.

Official printed copies of St. Louis City Revised Code may be obtained from the Register's Office at the St. Louis City Hall.



Chapter 17.99
Parking Commission Finance Corporation

Sections:

17.99.010 Findings and determinations.
17.99.020 Authority.

17.99.010 Findings and determinations.

The Board of Aldermen hereby finds and determines as follows:

A. In furtherance of the general welfare, safety and for the benefit of the City of St. Louis, Missouri, there is hereby authorized, under the terms and conditions provided for herein, the creation of the City of St. Louis Parking Commission Finance Corporation (St. Louis P.C.F.C.");

B. The terms and conditions under which the St. Louis P.C.F.C. shall be created are as follows:

1. The St. Louis P.C.F.C. shall be organized under the general nonprofit law of the state of Missouri for the purpose of engaging in activities which are essentially public in nature, and in particular the development of public parking,

2. None of the income of the St. Louis P.C.F.C. shall inure to any private person,

3. The Parking Commission of the City of St. Louis, acting on behalf of the City of St. Louis, shall have a beneficial interest in the St. Louis P.C.F.C. while the indebtedness authorized herein remains outstanding, and

4. The Parking Commission of the City of St. Louis, acting on behalf of the City of St. Louis shall receive full legal title to the property of the St. Louis P.C.F.C. with respect to which the indebtedness authorized herein was incurred upon retirement of such indebtedness; and,

C. The St. Louis P.C.F.C. is hereby authorized to finance the costs of the acquisition of certain real and personal property located in the Cupples Redevelopment area which includes City Block 434 and 427 in the City of St. Louis, commonly known as the "Cupples Garage and Parking Facilities," by the issuance and negotiated sale by the St. Louis P.C.F.C. of up to $21,000,000 principal amount of bonds in one or more series designated as the St. Louis P.C.F.C. Parking Revenue Bonds, Series 2003.
(Ord. 65989 1, 2003.)

17.99.020 Authority.

The Treasurer of the City of St. Louis, acting in his capacity as supervisor of parking, the Parking Commission of the City of St. Louis, and other appropriate officers, agents and employees of the City of St. Louis, including the Mayor and Comptroller, are hereby authorized to take such further actions and execute such other documents as may be necessary or desirable to carry out and comply with the intent of this chapter, and to carry out, comply with and perform the duties of the Parking Commission or the City of St. Louis with respect to the transaction herein authorized.
(Ord. 65989 2, 2003.)

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