Citation in context
February 10, 2015 — Meeting Minutes
Cited passage
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Alderman Harris moved to approve Resolution No. 15-02, to change the paying agent for the Build America Bonds, Series 2009A and 2009B. Alderman Garnholz seconded.
The motion passed unanimously on a voice vote.
TO CONSIDER AN APPOINTMENT TO THE SUSTAINABILITY COMMITTEE
City Manager Owens reported that Due to a recent resignation of a member of the Sustainability Committee Ward 1 has nominated George Hettich to be appointed to serve a three-year term ending June 30, 2018. Recommendation is to approve the appointment.
Alderman Lintz stated that he and Alderman Boulton met with Mr. Hettich who had expressed an interest to serve the community.
In response to Alderman Winings’ question regarding filling an unexpired term, City Clerk Frazier confirmed that he was correct and that Mr. Hettich would be completing an unexpired term instead of a three-year term. She would make this correction and provide the information to the Board.
Alderman Harris moved to appoint George Hettich to the Sustainability Committee. Alderman Garnholz seconded.
The motion passed unanimously on a voice vote.
Other
Alderman Harris updated the Board on the St. Louis County Municipal League providing a brief summary of the following reports/studies: Sales Tax in Missouri: Revision or Reinvention?; Tax Increment Financing in St. Louis County: 2000-2012; Best Practices: An Overview of Current Policies and Strategies for Improving Municipal Efficiency; and The St. Louis County Boundary Commission: Its Impact on Annexations and Incorporations. She noted that all of the studies can be found on the website and she would send the link to the Board.
Alderman Garnholz reported on the following:
Alderman Harris commented that this is another great example of collaboration between entities. Mayor Sanger received clarification as to the location of the project. Alderman Harris – Aye; Alderman Garnholz – Aye; Alderman Winings – Aye; Alderman Berger – Aye; Alderman Lintz – Aye; And Mayor Sanger – Aye. The bill was adopted and became Ordinance No. 6356 of the City of Clayton. A RESOLUTION TO CONSIDER APPROVING A CHANGE OF THE PAYING AGENT FOR THE BUILD AMERICA BONDS, SERIES 2009A AND 2009B
City Manager Owens reported that when the City passed the two recent bond issues, the City entered into an escrow trust agreement with UMB Bank, N.A. (“UMB”) to serve as the City’s escrow agent. This agreement named UMB as the escrow agent on the new bond issues, as well as provided authority for UMB to act as paying agent on all outstanding City bond issues. The reason the City would want to combine to only one paying agent is for efficiency in sending large transfers of funds for bond payments, centralized communication of important information, and the need to assure our continuing disclosure requirements are met with only one entity. There are two remaining bond issues, Build America Bonds Series 2009A and 2009B, which are still registered with the previous paying agent. These bonds are currently registered with The Bank of New York Mellon Trust Company, N.A. (successor to BNY Trust Company of Missouri and the Bank of New York Trust Company, N.A.) (“BNY”).
There are two remaining bond issues, Build America Bonds Series 2009A and 2009B, which are still registered with the previous paying agent. These bonds are currently registered with The Bank of New York Mellon Trust Company, N.A. (successor to BNY Trust Company of Missouri and the Bank of New York Trust Company, N.A.) (“BNY”). The attached resolution authorizes the City to execute the necessary documents to transfer the paying agent from BNY to UMB on the Build America Bonds. Staff recommends approving the attached resolution transferring the paying agent from BNY to UMB for the Build America Bonds, Series 2009A and 2009B.
for the North Entry into Shaw Park. The features included a fountain with a small pond and drainage “stream,” benches, and landscaping. She said that $500,000 has been received contingent upon approval. She stressed that a process will be put into place and that a steering committee will be formed as they move ahead.
Alderman Harris commented that a donor has committed to the $3 million cost of the project, but again stressed that it will go through a thorough process including public engagement.
Alderman Berger expressed his concerns that the project at this corner location has been greatly extended beyond what the Board reviewed over a year ago.
Alderman Garnholz continued her report:
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Alderman Winings mentioned that it has been a slow time of year for the Plan Commission/ARB and that the last two meetings have been cancelled due to lack of agenda items.
Aldermen Lintz reported that the Clayton Century Foundation met in January and discussed the following: