IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE authorizing the final terms of $9,246,289.75 principal amount of Jackson County, Missouri Leasehold Revenue Bonds (Truman Sports Complex/County Parks Project Addition) Series 2002, of Jackson County, Missouri, and authorizing and approving certain documents and actions in connection with the issuance of said bonds.
Intro
ORDINANCE 3292, September 9, 2002
INTRODUCED BY Victor E. Callahan, County Legislator
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WHEREAS, Jackson County, Missouri, a political subdivision of the State of Missouri (the "County") pursuant to its Constitutional Home Rule Charter (the "Charter") and Section 64.320 and 67.755, Revised Statutes of Missouri, as amended (the "Act") has authorized the issuance of its Leasehold Revenue Bonds (Truman Sports Complex/County Parks Project Additions) Series 2002 (the "Series 2002 Bonds"), by Ordinance No. 3275 adopted on August 26, 2002 (the "Bond Ordinance") to provide funds to pay the costs of acquiring, constructing, reconstructing, renovating, furnishing, and equipping improvements (the "Park Project") on Lake Jacomo Park and improvements to the Harry S Truman Sports Complex (the "Sports Complex Project"); and,
WHEREAS, the Series 2002 Bonds are being issued pursuant to the Indenture, as defined in the Bond Ordinance; and,
WHEREAS, the County desires to establish for the Series 2002 Bonds the most appropriate purchase price, aggregate principal amount, maturity dates and the principal amount of Series 2002 Bonds maturing on such dates, the redemption terms, and the interest rates to be borne by such Series 2002 Bonds; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri as follows:
Section 1. Definitions. All words and phrases not otherwise defined herein shall have the respective meanings as set forth in the Bond Ordinance and in the Indenture authorized and approved therein, unless a different meaning clearly appears in the text.
Section 2. Authorization of Series 2002 Bonds. The County Legislature hereby authorizes the issuance of the County's Leasehold Revenue Bonds (Truman Sports Complex/County Parks Project Additions) Series 2002, in a principal amount of $9,246,289.75 (the "Series 2002 Bonds"), with such final terms and provisions as set forth in the Bond Purchase Agreement and Indenture as herein approved in order to obtain funds to be used for the purpose aforesaid, which Series 2002 Bonds shall be issued under and secured by and shall have the terms and provisions set forth in the hereinafter described Indenture.
Section 3. Approval of Final Terms. The purchase price for the Series 2002 Bonds, the aggregate principal amount of such Series 2002 Bonds, the maturity dates of such Series 2002 Bonds, and the principal amount of Series 2002 Bonds maturing on such dates, the redemption terms thereof and the rates of interest to be borne by the Series 2002 Bonds as set forth in the Bond Purchase Agreement and in the final First Supplemental Trust Indenture dated September 1, 2002, between the County, the Jackson County Sports Complex Authority and Commerce Bank, N.A., as trustee, are, in the Legislature's best judgment, the most appropriate maturities, principal amount, purchase price and redemption terms, and the appropriate and best interest rates for the Series 2002 Bonds in the market as of the date hereof.
Section 4. Authorization and Approval of Bond Documents. The Series 2002 Bonds and the Bond Documents, as defined in the Bond Ordinance, including the First Supplemental Park Site Lease, the First Supplemental Trust Indenture, the First Supplemental Financing Agreement, the Bond Purchase Agreement, and the Tax Compliance Agreement are hereby approved in substantially the forms presented to and reviewed by the Legislature (copies of which documents shall be filed with the Clerk of the County Legislature) and the Clerk of the County Legislature is hereby authorized to execute and deliver each of such documents with such changes therein as shall be approved by the County Executive upon executing such documents, such County Executive's signature thereon being conclusive evidence of their approval and the Legislature's approval thereof.
Section 5. Further Authority. The Legislature shall, and the County Executive and other legislators, officers, agents and employees of the County are hereby authorized and directed to, take further action, and execute such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Ordinance, and to carry out, comply with and perform the duties of the Legislature with respect to the Series 2002 Bonds and the documents relating thereto.
Section 6. Effective Date. This Ordinance shall take effect and be in full force immediately after its adoption by the County Legislature and upon approval by the County Executive.
Enacted and Approved
Effective Date: This Ordinance shall be effective immediately upon its signature by the County Executive.
APPROVED AS TO FORM:
____________________________ _________________________________
County Counselor
I hereby certify that the attached Ordinance, Ordinance # 3292 of September 9, 2002 was duly passed on _______September 9____________, 2002 by the Jackson County Legislature. The votes thereon were as follows:
Yeas ______6_________ Nays ______0_______
Abstaining ____0_____ Absents ____3______
This Ordinance is hereby transmitted to the County Executive for her signature.
____________________ ________________________________
Date Mary Jo Spino, Clerk of Legislature
I hereby approve the attached Ordinance #3292.
_________________ __________________________________
Date Katheryn J. Shields, County Executive