IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE authorizing the selection of an underwriter related to the Jackson County, Missouri Special Obligation bonds (Animal Shelter Project), Series 2009; and authorizing certain other actions in connection with the issuance of said bonds.
Intro
ORDINANCE #4118, July 13, 2009
INTRODUCED BY Dennis Waits, County Legislator
Body
WHEREAS, Jackson County, Missouri (the County), operates pursuant to a County Charter, and is a political subdivision of the State of Missouri, duly created, organized and existing under and by virtue of the Constitution and laws of the State of Missouri; and,
WHEREAS, the County desires to finance and refinance the costs of certain capital improvements to provide animal shelter service and facilities (the Project) in Jackson County, Missouri, and is authorized under the provisions of the Constitution of Missouri and its Charter to issue and sell special obligation bonds for the purpose of providing funds to finance and refinance the costs of certain capital improvements and to provide that the principal of and interest on such special obligations bonds shall be payable solely from the revenues derived from annual appropriations by the County Legislature; and,
WHEREAS, it is necessary and advisable and in the best interest of the County and of its inhabitants that special obligation bonds (the Series 2009 Bonds) be issued for such purpose; and,
WHEREAS, it is necessary and desirable in connection with the issuance of the Series 2009 Bonds that the County take certain other actions and approve the execution of certain other documents as herein provided; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri as follows:
Section 1. The County is hereby authorized to issue and sell the Series 2009 Bonds for the purpose of providing funds to finance the Project. The County selects Oppenheimer & Co., LLC., as the underwriter (the "Purchaser") of the Series 2009 Bonds and Springsted Incorporated as the financial advisor for the County related to the Series 2009 Bonds. The Purchaser and the financial advisor are hereby authorized to proceed with the offering for sale of the Bonds. The final terms of the Bonds shall be determined and approved by subsequent ordinance of the County Legislature of Jackson County, Missouri; provided, however, the principal amount of the Series 2009 Bonds shall not exceed $5,500,000.00 and proceeds available for the Project shall not exceed $5,300,000.00. The County has made, or expects to make, expenditures in connection with the Project, and the County may reimburse itself for such expenditures with the proceeds of the Series 2009 Bonds.
Section 2. The County hereby authorizes the preparation of a Preliminary Official Statement and a final Official Statement by amending, supplementing and completing the Preliminary Official Statement, and authorizes the execution of the final Official Statement by the County Executive, the Director of Finance or other appropriate officers and officials of the County with such changes and additions thereto as such officials shall deem necessary or appropriate, such official's signature thereon being conclusive evidence of such official's and the County's approval thereof. The County hereby consents to the use and public distribution by the Purchaser of the Preliminary Official Statement and the final Official Statement in connection with the offering for sale of the Bonds.
Section 3. For the purpose of enabling the Purchaser to comply with the requirements of Rule 15c2-12(b)(1) of the Securities and Exchange Commission, the County Executive, the Director of Finance or other appropriate officers and officials of the County are hereby authorized, if requested, to provide the Purchaser a letter or certification to the effect that the County deems the information contained in the Preliminary Official Statement to be "final" as of its date, except for the omission of such information as is permitted by Rule 15c2-12(b)(1), and to take such other actions or execute such other documents as such officers in their reasonable judgment deem necessary to enable the Purchaser to comply with the requirements of such Rule.
Section 4. The County agrees to provide to the Purchaser within seven business days of the date of the agreement to purchase the Bonds or within sufficient time to accompany any confirmation that requests payment from any customer of the Purchaser, whichever is earlier, sufficient copies of the final Official Statement to enable the Purchaser to comply with the requirements of Rule 15c2-12(b)(4) of the Securities and Exchange Commission and with the requirements of Rule G-32 of the Municipal Securities Rulemaking Board.
Section 5. The officers, agents and employees of the County, including the County Executive, the Director of Finance and the Clerk of the County Legislature, shall be, and they hereby are, authorized and directed to execute all documents and take such actions as they may deem necessary or advisable in order to carry out and perform the purposes of this Ordinance.
Enacted and Approved
Effective Date: This ordinance shall be effective immediately upon its signature by the County Executive.
APPROVED AS TO FORM:
______________________________ _________________________________
Deputy County Counselor County Counselor
I hereby certify that the attached Ordinance, Ordinance #4118, introduced on July 13, 2009 was duly passed on July 13, 2009 by the Jackson County Legislature. The votes thereon were as follows:
Yeas _______7________ Nays ______1________ Excused____1______
Abstaining ______0_____ Absent _____0________
This Ordinance is hereby transmitted to the County Executive for his signature.
____________________ ________________________________
Date Mary Jo Spino, Clerk of Legislature
I hereby approve the attached Ordinance #4118.
____________________ ________________________________
Date Michael D. Sanders, County Executive