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HomeMy WebLinkAboutORD.2877.04-16-2001Bill No. 2001-E5 ORDINANCE NO. 2 %'7 AN ORDINANCE AMENDING ORDINANCE NO. 1122, ORDINANCE NO. 1402 AND ORDINANCE NO. 1971 IN CONNECTION WITH CERTAIN OUTSTANDING BONDS OF THE CITY AND PRESCRIBING RELATED MATTERS WHEREAS, the City of Cape Girardeau, Missouri (the "City") is a constitutional charter city operating under a home rule form of government, organized and existing under the Constitution and laws of the State of Missouri; and WHEREAS, the City is authorized under the provisions of Chapter 250 of the Revised Statutes of Missouri (the "Act"), to issue and sell revenue bonds for the purpose of paying all or part of the cost of extending and improving the revenue producing sewerage system serving the City and its inhabitants (the "System"); and WHEREAS, in order to provide for the most cost effective financing of certain extensions and improvements to the System the City has participated in the Missouri Leveraged State Water Pollution Control Revolving Fund Program (the "SRF Program") of the Department of Natural Resources ("DNR") and the State Environmental Improvement and Energy Resources Authority (the "Authority") pursuant to the Act by the issuance of the City's (i) Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991, dated December 1, 1991, in the original principal amount of $2,500,000 (the "Series 1991 Bonds"), authorized by Ordinance No. 1121 passed on December 16, 1991 (the "Series 1991 Bond Ordinance"); (ii) Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993A, dated August 1, 1993, in the original principal amount of $500,000 (the "Series 1993A Bonds"), authorized by Ordinance No. 1402 passed on August 25, 1993 (the "Series 1993 A Bond Ordinance"); and (iii) Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996, dated June 1, 1996, in the original principal amount of $13,535,000 (the "Series 1996 Bonds"), authorized by Ordinance No. 1971 passed on June 5, 1996 (the "Series 1996 Bond Ordinance"); and WHEREAS, pursuant to the SRF Program the Authority has purchased: (i) the Series 1991 Bonds with a portion of the proceeds of the Authority's $13,550,000 aggregate principal amount of Water Pollution Control Revenue Bonds (State Revolving Fund Program - Multiple Participant Series) Series 1991A (the "Series 1991A Authority Bonds"), issued pursuant to the Bond Indenture dated as of December 1, 1991, as amended (the "Series 1991A Indenture"), by and between the Authority and Commerce Bank, N.A. (formerly known as Commerce Bank of Kansas City, N.A., the "Series 1991A Trustee"); (ii) the Series 1993A Bonds with a portion of the proceeds of the Authority's $22,425,000 aggregate principal amount of Water Pollution Control Revenue Bonds (State Revolving Fund Program - Multiple Participant Series) Series 1993A (the "Series 1993A Authority Bonds"), issued pursuant to the Bond Indenture dated as of August 1, 1993, as amended (the "Series 1993A Indenture"), by and between the Authority and State Street Bank and Trust Company of Missouri, N.A., as successor trustee (the "Series 1993A Trustee"); and (iii) the Series 1996 Bonds with a portion of the proceeds of the Authority's $14,185,000 aggregate principal amount of Water Pollution Control Revenue Bonds (State Revolving Fund Program - Multiple Participant Series) Series 1996D (the "Series 1996D Authority Bonds"), issued pursuant to the Bond Indenture dated as of June 1, 1996, as amended (the "Series 1996D Indenture"), by and between the Authority and State Street Bank and Trust Company of Missouri, N.A., as successor trustee (the "Series 1996D Trustee"); and WHEREAS, the Council of the City finds and determines that it is in the best interests of the City to obtain the benefit of the net interest savings relating to the refunding of certain Series 1991A Authority Bonds, Series 1993A Authority Bonds and Series 1996D Authority Bonds allocable to the City and to amend the Series 1991 Bond Ordinance, the Series 1993A Bond Ordinance and the Series 1996 Bond Ordinance in order to provide for the credit of net interest savings resulting from the refunding of the Series 1991 A Authority Bonds, Series 1993 A Authority Bonds and Series 1996D Authority Bonds to the payments on the Series 1991 Bonds, the Series 1993A Bonds and the Series 1996 Bonds, to further amend the Series 1991 Bond Ordinance, the Series 1993A Bond Ordinance and the Series 1996 Bond Ordinance as requested by the Authority and DNR in connection with the issuance of the Authority Refunding Bonds (defined below), and to provide for certain other matters; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: Section 1. Series 1991 Bond Ordinance Amendments. In consideration of the City's receipt of the portion of the net savings resulting from the refunding of the Series 1991A Authority Bonds which are allocable to the City (as further described below) and in order to provide for the proper credit of investment earnings to be received by the City pursuant to the City's participation in the SRF Program under the Series 1991 Bond Ordinance, the Series 1991 Bond Ordinance is amended as provided in this Section. Terms not otherwise defined in this Section have the meanings set forth in the Series 1991 Bond Ordinance. 2 (a) Definitions. Section 101 of the Bond Ordinance is amended by inserting the following definitions: "Authority Program Bonds" means the Authority Bonds and any other bonds of the Authority issued under the SRF Program, all or a portion of the proceeds of which are loaned to the City pursuant to the SRF Program. "Authority Refunding Bonds" means the Water Pollution Control Revenue Refunding Bonds (State Revolving Fund Program — Master Trust) Series 2001B of the Authority. "Authority Refunding Bonds Trustee" means the bond trustee with respect to the Authority Refunding Bonds, and its successors and assigns. "SRF Program Bonds" means the Bonds and any other System Revenue Bonds issued in connection with the City's participation in the SRF Program. "SRF Subsidy" means the amount of investment earnings which will accrue on the Reserve Account during each Fiscal Year (taking into account scheduled transfers from the Reserve Account which will occur upon the payment of principal on the Authority Program Bonds and assuming that the construction for the applicable project has been completed), if the Reserve Security is equal to the Reserve Percentage of the principal amount of the SRF Program Bonds outstanding, the Reserve Account is invested in an investment agreement at a fixed interest rate during the calculation period and earnings are reduced by the Administrative Fee payable to DNR. Administrative Fee, Reserve Account, Reserve Percentage and Reserve Security as used in this definition have the respective meanings set forth in the bond indentures for the applicable Authority Program Bonds. (b) Optional Redemption. (i) The Mayor or the City Manager is authorized and directed to provide written instructions to the Trustee directing the optional redemption of the Series 1991A Authority Bonds allocable to the City which are being refunded by the Authority (the "Series 1991A Refunded Authority Bonds"). The initial schedule of the Series 1991A Refunded Authority Bonds is set forth in Exhibit A. The Mayor or the City Manager is authorized to approve a final schedule of Series 1991 A Refunded Authority Bonds and authorize the Authority to redeem the Series 1991 A Refunded Authority Bonds on the redemption date for the Series 1991A Refunded Authority Bonds as designated by the Authority. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1991A Refunded Authority Bonds is attached will be conclusive evidence of approval of the final schedule. (ii) The City irrevocably and unconditionally waives its right to optionally redeem Series 1991 Bonds maturing or subject to mandatory sinking fund redemption on the dates and in the principal amounts corresponding to the Series 1991A Refunded Authority Bonds (the "Series 1991A Non-refundable Bonds"). The initial schedule of the Series 1991A Non-refundable Bonds is set forth in Exhibit B. The Mayor or the City Manager is authorized to approve a final schedule of Series 1991A Non-refundable Bonds. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1991A Non-refundable Bonds is attached will be conclusive evidence of approval of the final schedule. (iii) The City will not exercise its right to optionally redeem any other Series 1991 Bonds without the prior written consent of the Authority, which consent is not to be unreasonably withheld and is conditioned upon a determination by the Authority that such redemption would not adversely affect the timely payment of the principal of and interest on the portion of the Authority Refunding Bonds allocable to the Series 1991A Refunded Authority Bonds. (iv) Sections 302, 401 and 1004 of the Series 1991 Bond Ordinance, including the provisions relating to authorized denominations of the Series 1991 Bonds, which will be integral multiples of $1, are amended in accordance with this subsection (b). (v) The provisions of this subsection (b) are subject to the requirements of Section 5. (c) Annlication of Moneys in Revenue Fund. Section 702(b) of the Series 1991 Bond Ordinance is amended by deleting clauses (i), (ii) and (iii) of subparagraph (1)(A) and inserting in lieu thereof the following: (i) upon the City's receipt of the Trustee's semiannual notice of the balances remaining in the Debt Service Account and the Interest Account as of the Business Day following the transfer by the Trustee to the Authority Refunding Bonds Trustee pursuant to the Indenture, an amount equal to the balances will be credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and (ii) upon the City's receipt of the Trustee's semiannual notice of (a) projected investment earnings in the Reserve Account for the current Interest Period and (b) actual investment earnings in the Construction Account and the Reserve Account (less the earnings in the Reserve Account projected pursuant to subclause (a) of this clause (ii)) for the prior Interest Period, an amount equal to the projected earnings and actual earnings will be credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and rd (d) Rate Covenant. Section 902 of the Series 1991 Bond Ordinance is amended by inserting "; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the thirteenth line after the word "outstanding" in clause (c). (e) Parity Lien Bonds. Section 1002(b)(1) of the Series 1991 Bond Ordinance is amended by inserting `; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the twelfth line after the words "to be issued". Section 1002(bx2) of the Series 1991 Bond Ordinance is amended by inserting `; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the fifteenth line after the words "to be issued". Section 2. Series 1993A Bond Ordinance Amendments. In consideration of the City's receipt of the portion of the net savings resulting from the refunding of the Series 1993A Authority Bonds which are allocable to the City (as further described below) and in order to provide for the proper credit of investment earnings to be received by the City pursuant to the City's participation in the SRF Program under the Series 1993A Bond Ordinance, the Series 1993A Bond Ordinance is amended as provided in this Section. Terms not otherwise defined in this Section have the meanings set forth in the Series 1993A Bond Ordinance. (a) Definitions. (i) Section 101 of the Series 1993A Bond Ordinance is amended by inserting the following definitions: "Authority Program Bonds" means the Authority Bonds and any other bonds of the Authority issued under the SRF Program, all or a portion of the proceeds of which are loaned to the City pursuant to the SRF Program. "Authority Refunding Bonds" means the Water Pollution Control Revenue Refunding Bonds (State Revolving Fund Program — Master Trust) Series 2001B of the Authority. "Authority Refunding Bonds Trustee" means the bond trustee with respect to the Authority Refunding Bonds, and its successors and assigns. "SRF Subsidy" means the amount of investment earnings which will accrue on the Reserve Account during each Fiscal Year (taking into account scheduled transfers from the Reserve Account which will occur upon the payment of principal on the Authority Program Bonds and assuming that the constriction for the applicable project has been completed), if the Reserve Security is equal to the Reserve Percentage of the principal amount of the SRF Program Bonds outstanding, the Reserve Account is invested in an investment agreement at a fixed interest rate 5 during the calculation period and earnings are reduced by the Administrative Fee payable to DNR. Administrative Fee, Reserve Account, Reserve Percentage and Reserve Security as used in this definition have the respective meanings set forth in the bond indentures for the applicable Authority Program Bonds. (ii) Section 101 of the Series 1993A Bond Ordinance is further amended by deleting the definition of"SRF Program Bonds" and inserting the following: "SRF Program Bonds" means the Bonds and any other System Revenue Bonds issued in connection with the City's participation in the SRF Program. (b) Optional Redemption. (i) The Mayor or the City Manager is authorized and directed to provide written instructions to the Trustee directing the optional redemption of the Series 1993A Authority Bonds allocable to the City which are being refunded by the Authority (the "Series 1993A Refunded Authority Bonds"). The initial schedule of the Series 1993A Refunded Authority Bonds is set forth in Exhibit A. The Mayor or the City Manager is authorized to approve a final schedule of Series 1993A Refunded Authority Bonds and authorize the Authority to redeem the Series 1993A Refunded Authority Bonds on the redemption date for the Series 1993A Refunded Authority Bonds as designated by the Authority. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1993A Refunded Authority Bonds is attached will be conclusive evidence of approval of the final schedule. (ii) The City irrevocably and unconditionally waives its right to optionally redeem Series 1993A Bonds maturing or subject to mandatory sinking fund redemption on the dates and in the principal amounts corresponding to the Series 1993A Refunded Authority Bonds (the "Series 1993A Non-refundable Bonds"). The initial schedule of the Series 1993A Non-refundable Bonds is set forth in Exhibit B. The Mayor or the City Manager is authorized to approve a final schedule of Series 1993A Non-refundable Bonds. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1993A Non-refundable Bonds is attached will be conclusive evidence of approval of the final schedule. (iii) The City will not exercise its right to optionally redeem any other Series 1993A Bonds without the prior written consent of the Authority, which consent is not to be unreasonably withheld and is conditioned upon a determination by the Authority that such redemption would not adversely affect the timely payment of the principal of and interest on the portion of the Authority Refunding Bonds allocable to the Series 1993A Refunded Authority Bonds. rZ (iv) Sections 302 and 1004 and Exhibit B of the Series 1993A Bond Ordinance, including the provisions relating to authorized denominations of the Series 1993A Bonds, which will be integral multiples of $1, are amended in accordance with this subsection (b). (v) The provisions of this subsection (b) are subject to the requirements of Section 5. (c) AUnlication of Moneys in Revenue Fund. Section 702(b) of the Series 1993A Bond Ordinance is amended by deleting clauses (i), (ii) and (iii) of subparagraph (lXA) and inserting in lieu thereof the following: (i) upon the City's receipt of the Trustee's semiannual notice of the balances remaining in the Debt Service Account and the Interest Account as of the Business Day following the transfer by the Trustee to the Refunding Bonds Trustee pursuant to the Indenture, an amount equal to such balances credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and (ii) upon the City's receipt of the Trustee's semiannual notice of (a) projected investment earnings in the Reserve Account for the current Interest Period and (b) actual investment earnings in the Construction Account and in the Reserve Account (less the earnings in the Reserve Account projected pursuant to subclause (a)) for the prior Interest Period, an amount equal to such projected earnings and actual earnings will be credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and (d) Rate Covenant. Section 902 of the Series 1993A Bond Ordinance is amended by inserting `; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the eighth line after the word "outstanding" in clause (c). (e) Parity Lien Bonds. Section 1002(b)(1) of the Series 1993A Bond Ordinance is amended by inserting "; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the eighth line after the words "to be issued". Section 1002(b)(2) of the Series 1993A Bond Ordinance is amended by inserting "; provided that interest on any SRF Program Bonds will be reduced by the SRF Subsidy, if any" in the ninth line after the words "to be issued". Section 3. Series 1996 Bond Ordinance Amendments. In consideration of the City's receipt of the portion of the net savings resulting from the refunding of the Series 1996 Authority Bonds which are allocable to the City (as further described below) and in order to provide for the proper credit of investment earnings to be received by the City pursuant to the City's participation in the SRF Program under the Series 1996 Bond Ordinance, the Series 1996 Bond Ordinance is amended as provided in this Section. Terms not otherwise defined in this Section have the meanings set forth in the Series 1996 Bond Ordinance. 7 (a) Definitions. Section 101 of the Series 1996 Bond Ordinance is amended by inserting the following definitions: "Authority Refunding Bonds" means the Water Pollution Control Revenue Refunding Bonds (State Revolving Fund Program — Master Trust) Series 2001B of the Authority. "Authority Refunding Bonds Trustee" means the bond trustee with respect to the Authority Refunding Bonds, and its successors and assigns. (b) Optional Redemption. (i) The Mayor or the City Manager is authorized and directed to provide written instructions to the Trustee directing the optional redemption of the Series 1996D Authority Bonds allocable to the City which are being refunded by the Authority (the "Series 1996D Refunded Authority Bonds"). The initial schedule of the Series 1996D Refunded Authority Bonds is set forth in Exhibit A. The Mayor or the City Manager is authorized to approve a final schedule of Series 1996D Refunded Authority Bonds and authorize the Authority to redeem the Series 1996D Refunded Authority Bonds on the redemption date for the Series 1996D Refunded Authority Bonds as designated by the Authority. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1996D Refunded Authority Bonds is attached will be conclusive evidence of approval of the final schedule. (ii) The City irrevocably and unconditionally waives its right to optionally redeem Series 1996 Bonds maturing or subject to mandatory sinking fund redemption on the dates and in the principal amounts corresponding to the Series 1996D Refunded Authority Bonds (the "Series 1996D Non-refundable Bonds"). The initial schedule of the Series 1996D Non-refundable Bonds is set forth in Exhibit B. The Mayor or the City Manager is authorized to approve a final schedule of Series 1996D Non-refundable Bonds. The signature of the Mayor or the City Manager to a certificate to which the final schedule of Series 1996D Non-refundable Bonds is attached will be conclusive evidence of approval of the final schedule. (iii) The City will not exercise its right to optionally redeem any other Series 1996 Bonds without the prior written consent of the Authority, which consent is not to be unreasonably withheld and is conditioned upon a determination by the Authority that such redemption would not adversely affect the timely payment of the principal of and interest on the portion of the Authority Refunding Bonds allocable to the Series 1996D Refunded Authority Bonds. 8 (iv) Sections 302 and 1004 and Exhibit B of the Series 1996 Bond Ordinance, including the provisions relating to authorized denominations of the Series 1996 Bonds, which will be integral multiples of $1, are amended in accordance with this subsection (b). (v) The provisions of this subsection (b) are subject to the requirements of Section 5. (c) Application of Moneys in Revenue Fund. Section 702(b) of the Series 1996 Bond Ordinance is amended by deleting clauses (i) and (ii) of subparagraph (IXA) and inserting in lieu thereof the following: (i) upon the City's receipt of the Trustee's semiannual notice of the balances remaining in the Debt Service Account and the Interest Account as of the Business Day following the transfer by the Trustee to the Refunding Bonds Trustee pursuant to the Indenture, an amount equal to such balances credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and (ii) upon the City's receipt of the Trustee's semiannual notice of (a) projected investment earnings in the Reserve Account for the current Interest Period and (b) actual investment earnings in the Construction Account and in the Reserve Account (less the earnings in the Reserve Account projected pursuant to subclause (a)) for the prior Interest Period, an amount equal to such projected earnings and actual earnings will be credited in equal installments against the monthly deposits due on and prior to the next Interest Payment Date; and Section 4. Arbitrage Rebate. (a) In addition to the current obligation of the City to pay arbitrage rebate to the Series 1991A Trustee and the City's allocable portion of the costs of calculating arbitrage rebate in connection with the Series 1991A Authority Bonds, the City will pay to the Series 1991A Trustee and the Authority Refunding Bonds Trustee, arbitrage rebate and the extraordinary expenses incurred by the Series 1991A Trustee and the Authority Refunding Bonds Trustee in connection with the calculation of arbitrage rebate which results from any remaining balance in the Construction Account held under the Series 1991 A Indenture as of January 1, 2002. (b) In addition to the current obligation of the City to pay arbitrage rebate to the Series 1996D Trustee and the City's allocable portion of the costs of calculating arbitrage rebate in connection with the Series 1996D Authority Bonds, the City will pay to the Series 1996D Trustee and the Authority Refunding Bonds Trustee, arbitrage rebate and the extraordinary expenses incurred by the Series 1996D Trustee and the Authority Refunding Bonds Trustee in connection with the calculation of arbitrage rebate which results from any remaining balance in the Construction Account held under the Series 1996D Indenture as of January 1, 2002. E Section 5. Authorization to Proceed; Minimum Present Value Savings. The Mayor or the City Manager is authorized to proceed under Sections 1(b) 2(b) and 3(b) ??? upon the receipt by such officer of evidence (in form and substance satisfactory to such officer) that the present value of the debt service savings to the City resulting from the refunding of the Series 1991A Refunded Authority Bonds, the Series 1993A Refunded Authority Bonds, and the Series 1996D Refunded Authority Bonds is not less than 3.0% of the aggregate principal amount of the Series 1991A Refunded Authority Bonds, the Series 1993A Refunded Authority Bonds, and the Series 1996D Refunded Authority Bonds. The present value of the debt service savings to the City will be calculated as the sum of the present values, as of the expected delivery date of the Authority Refunding Bonds, of all payments to be credited to the City under the Series 1991A Indenture, the Series 1993A Indenture and the Series 1996D Indenture as a result of the refunding, using a discount rate equal to the yield on the Authority Refunding Bonds calculated in accordance with Section 148 of the Internal Revenue Code (the "arbitrage yield"), a 360 -day year consisting of twelve 30 -day months and semiannual compounding. Section 6. Further Authority. The City shall, and the Mayor, the City Clerk and the City Manager are hereby authorized and directed to, take such 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. Section 7. Emergency Ordinance. The City Council finds that an emergency exists within the meaning of Section 3.15(a) of the City Charter, because the City must approve the amendments set forth above on the same day this Bill is introduced in order to participate in the savings resulting from the refunding of the Series 1991A Refunded Authority Bonds, the Series 1993A Refunded Authority Bonds and the Series 1996D Refunded Authority Bonds. The City Council further finds that this Bill is one which concerns the immediate preservation of public peace, property, health, safety or morals as provided in said Section. Section 8. Effective Date. This Ordinance shall take effect and be in full force immediately after its passage by the Council. PASSED by the City Council of the City of Cape Girardeau, Missouri, this 16th day of April, 2001. (Seal) ATTEST: Gayle t. Conrad, City Clerk 10 Albert M. Spradling III, Mayor EXHIBIT A TO ORDINANCE NO. 2 l INITIAL SCHEDULE OF SERIES 1991A REFUNDED AUTHORITY BONDS Maturity Date Principal Amount June 1, 2003 $ 67,627 June 1, 2014 1,408,327 INITIAL SCHEDULE OF SERIES 1993A REFUNDED AUTHORITY BONDS Maturity Date Principal Amount July 1, 2006 $ 16,889 July 1, 2007 19,139 July 1, 2008 20,803 July 1, 2014 178,031 INITIAL SCHEDULE OF SERIES 1996D REFUNDED AUTHORITY BONDS Maturity Date January 1, 2009 January 1, 2010 January 1, 2015 January 1, 2019 A-1 Principal Amount $ 457,600 486,667 2,993,325 3,385,150 EXHIBIT B TO ORDINANCE NO. Z�7 INITIAL SCHEDULE OF SERIES 1991A NON-REFUNDABLE BONDS Maturity or Sinking Fund Redemption Date Principal Amount June 1, 2003 $ 37,373 June 1, 2004 35,484 June 1, 2005 34,030 June 1, 2006 32,500 June 1, 2007 30,197 June 1, 2008 26,524 June 1, 2009 23,161 June 1, 2010 19,516 June 1, 2011 15,909 June 1, 2012 10,755 June 1, 2013 3,596 June 1, 2014 105,000 INITIAL SCHEDULE OF SERIES 1993A NON-REFUNDABLE BONDS Maturity or Sinking Fund Redemption Date Principal Amount July 1, 2006 $8,111 July 1, 2007 7,861 July 1, 2008 7,197 July 1, 2009 6,641 July 1, 2010 5,841 July 1, 2011 5,103 July 1, 2012 4,232 July 1, 2013 3,207 July 1, 2014 1,944 INITIAL SCHEDULE OF SERIES 1996D NON-REFUNDABLE BONDS Maturity or Sinking Fund Redemption Date Principal Amount January 1, 2009 $257,400 January 1, 2010 243,333 January 1, 2011 229,231 January 1, 2012 215,156 January 1, 2013 196,196 January 1, 2014 177,246 January 1, 2015 153,846 January 1, 2016 129,225 January 1, 2017 100,625 January 1, 2018 70,000 January 1, 2019 40,000 ME CERTIFICATE I, the undersigned, City Clerk of the City of Cape Girardeau, Missouri, hereby certify that attached to this Certificate is a true and correct copy of Ordinance No. 1-1 passed by the Council of the City at a regular meeting held, after proper notice, on April 16, 2001; that the Ordinance has not been amended and is in full force and effect as of this date; and that the Ordinance is on file in my office. (Seal) n1 WITNESS my hand and official seal this) �-, ,day ofMay, 2001. d j 0� c., ',,[a Gy City Clerk CONSENT OF AUTHORITY TO ORDINANCE NO. c S) 0 The State Environmental Improvement and Energy Resources Authority hereby approves Ordinance No.adopted by the governing body of the City of Cape Girardeau, Missouri on April 16, 2001. Dated this day of May, 2001. STATE ENVIRONMENTAL IMPROVEMENT AND ENERGY RESOURCES AUTHORITY Dated: By: Avis Parman, Chairman CONSENT OF TRUSTEE TO ORDINANCE NO. State Street Bank and Trust Company of Missouri, N.A., as successor Trustee and holder by assignment from the State Environmental Improvement and Energy Resources Authority of all of the outstanding aggregate principal amount of the Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991, Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993A and the Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 of the City of Cape Girardeau, Missouri, hereby approves Ordinance No. adopted by the governing body of the City of Cape Girardeau, Missouri on April 16, 2001. Dated this day of May, 2001. STATE STREET BANK AND TRUST COMPANY OF MISSOURI, N.A., as Trustee By Title: