City of Lake Ozark, MO Chapter 710 Lease-Purchase — Missouri Association of Municipal Utilities [1]

[1] Editor's Note: Ord. No. 2008-21 § 1, adopted May 27, 2008, repealed Ch. 710, "Sewer Extension Policy" and enacted new provisions set out herein. Former Ch. 710 derived from Ord. No. 98-12 § 1, 5-1-1998.

Section 710.010 Participation In Program.

[R.O. 1994 § 710.010; Ord. No. 2008-21 § 1, 5-27-2008]

The Board of Aldermen hereby approves the lessee's participation in the program.

Section 710.020 Approval Of Lessee Documents.

[R.O. 1994 § 710.020; Ord. No. 2008-21 § 1, 5-27-2008]

A. The lessee documents are hereby approved in substantially the forms submitted to and reviewed by the Board of Aldermen on the date hereof, with such changes therein as shall be approved by the Mayor, the Mayor's execution thereof to be conclusive evidence of the approval thereof.

B. The Mayor is hereby authorized and directed to execute and deliver the lessee documents on behalf of and as the act and deed of the lessee. The City Clerk is hereby authorized to affix the lessee's seal thereto and attest said seal.

Section 710.030 Reimbursement.

[R.O. 1994 § 710.030; Ord. No. 2008-21 § 1, 5-27-2008]

The lessee expects to make capital expenditures after the date of the adoption of this Chapter in connection with the project and the City intends to reimburse itself for such expenditures and also expenditures made with respect to the project on or after sixty (60) days before the date of this Chapter with proceeds received under the lease.

Section 710.040 Redemption Of Bonds.

[R.O. 1994 § 710.040; Ord. No. 2008-21 § 1, 5-27-2008]

The lessee's Sewerage System Refunding Revenue Bonds, Series 1998, now outstanding in the principal amount of four million ninety thousand dollars ($4,090,000.00) and the City's Junior Lien Sewerage System Revenue Bonds, Series 2002, now outstanding in the principal amount of two hundred eighty-eight thousand dollars ($288,000.00) are called for redemption and payment on July 1, 2005, subject to the availability of funds on that date from the program.

Section 710.050 Further Authority.

[R.O. 1994 § 710.050; Ord. No. 2008-21 § 1, 5-27-2008]

The lessee shall, and the officials and agents of the lessee are hereby authorized and directed to, take such action, expend such funds and execute such other documents, certificates and instruments 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 lessee with respect to the lessee documents and the project.