Public Notices (Published February 13, 2025)

EXHIBIT A
NOTICE TO ELECTORS
OF THE CITY OF ST. LOUIS AND
USERS OF THE CITY’S WATER SUPPLY SYSTEM
OF INTENT TO ISSUE REVENUE BONDS PAYABLE FROM THE REVENUES
OF THE WATER SUPPLY SYSTEM
AND OF RIGHT OF REFERENDUM RELATING THERETO

PLEASE TAKE NOTICE that the City Council of the City of St. Louis intends to authorize the issuance and sale of Water Supply System Revenue Bonds pursuant to Act 94, Public Acts of Michigan, 1933, as amended, in the principal amount of not to exceed Fourteen Million Dollars ($14,000,000), in one or more series, for the purpose of paying all or part of the cost to acquire, construct, furnish and equip improvements to the Water Supply System of the City, consisting generally of the replacement of water mains, service lines, valves, and hydrants, including necessary equipment, together with interests in land, appurtenances and attachments thereto.

SOURCE OF PAYMENT OF BONDS

THE PRINCIPAL OF AND INTEREST ON THE REVENUE BONDS shall be payable solely and only from the net revenues derived from the operation of the City’s Water Supply System. The revenues consist of rates and charges for services supplied by the System which may from time to time be increased in order to provide sufficient revenues to meet expenses of operating and maintaining the System and paying debt service on certain existing revenue bonds, the bonds referred to herein and any future revenue bonds payable from the net revenues of the System. Schedules of rates presently in effect for the System are on file in the office of the City Clerk.
The City expects that the revenue bonds will be sold to the Michigan Finance Authority in connection with the Michigan Department of Environment, Great Lakes and Energy Drinking Water State Revolving Fund loan program, in which case the revenue bonds sold to the Michigan Finance Authority may also be payable as described below.

ADDITIONAL SOURCES OF PAYMENTS FOR BONDS
SOLD TO MICHIGAN FINANCE AUTHORITY

BECAUSE THE REVENUE BONDS WILL BE SOLD TO THE MICHIGAN FINANCE AUTHORITY, THE CITY MAY ALSO PLEDGE ITS LIMITED TAX FULL FAITH AND CREDIT AS SECURITY FOR THE BONDS. IN SUCH CASE, IF REVENUES OF THE SYSTEM ARE INSUFFICIENT TO PAY DEBT SERVICE AT ANY TIME, THEN TO PAY DEBT SERVICE THE CITY SHALL ADVANCE LEGALLY AVAILABLE FUNDS INCLUDING, IF NECESSARY, FUNDS FROM THE LEVY OF TAXES UPON ALL TAXABLE PROPERTY IN THE CITY, SUBJECT HOWEVER TO CONSTITUTIONAL, STATUTORY AND CHARTER TAX RATE LIMITATIONS.
IN ADDITION, THE CITY MAY BE REQUIRED TO PLEDGE FOR THE PAYMENT OF THE BONDS SOLD TO THE MICHIGAN FINANCE AUTHORITY MONEY RECEIVED OR TO BE RECEIVED BY THE CITY DERIVED FROM IMPOSITION OF TAXES BY THE STATE AND RETURNED OR TO BE RETURNED TO THE CITY AS PROVIDED BY LAW, except for money the use of which is prohibited for such purposes by the State Constitution. The City may enter into an agreement providing for the payment of taxes, which taxes are collected by the State and returned to the City as provided by law, to the Michigan Finance Authority or a trustee, and such funds may be pledged for the payment of the revenue bonds.

BOND DETAILS

THE REVENUE BONDS may be issued in one or more series and may be combined with bonds for other purposes. The revenue bonds will mature in not to exceed forty (40) annual installments, and will bear interest at the rate or rates to be determined at the time of sale to the Michigan Finance Authority, but in no event to exceed such rates as may be permitted by law.

RIGHT OF REFERENDUM

THE REVENUE BONDS WILL BE ISSUED WITHOUT VOTE OF THE ELECTORS UNLESS A VALID PETITION REQUESTING AN ELECTION ON THE QUESTION OF ISSUING THE BONDS, SIGNED BY NOT LESS THAN 10% OF THE REGISTERED ELECTORS OF THE CITY, IS FILED WITH THE CITY CLERK WITHIN FORTY-FIVE (45) DAYS AFTER PUBLICATION OF THIS NOTICE. IF A VALID A PETITION IS FILED, THE BONDS CANNOT BE ISSUED UNLESS APPROVED BY A MAJORITY VOTE OF THE ELECTORS OF THE CITY VOTING ON THE QUESTION OF THEIR ISSUANCE.

THIS NOTICE is given pursuant to the requirements of Section 33 of Act 94, Public Acts of Michigan, 1933, as amended.
ADDITIONAL INFORMATION will be furnished at the office of the City Clerk upon request.

Jamie Long, City Clerk
City of St. Louis

City of St. Louis Minute Summary
January 7, 2025, Regular Meeting

Approved Agenda.
Public Hearing for 137 North Mill Demolition.
Approved Minutes.
Approved Claims & Accounts.
Received Board Minutes.
Approved Consent Agenda.
Reappointment of City Board and Commission Members.
Designation of City Official Newspapers.
Designation of Office Depositories.
Designation of City Attorneys.
Approved Renewal of Gadde Farms Rental Contract.
Adopted Resolution 2025-01-Annual Trunkline Right of Way Permit.
Approved Proposal from Pavlik Auction & Real Estate L.L.C. for Sale of Vacant Lots.
Adopted Resolution 2025-02-Medical Benefits Certification.
Adopted Resolution 2025-03-SolAmerica Solar Participation.
Approved the Application to the State of Michigan Fleet Card Program.
Approved Renewal of the Uniform Video Service Local Franchise Agreement.
Adjourned at 7:22 p.m. Complete copy of minutes is available at City Hall or at www.stlouismi.com.
Jamie Long, Clerk