The Authority is a body politic and corporate and a public instrumentality duly organized and existing under the laws of the State of Missouri, including particularly Sections 67.650 to 67.658 of the Revised Statutes of Missouri, as amended (the “Act”).
The Authority is empowered to acquire, purchase or lease and construct, operate and maintain convention centers, sports stadiums, field houses, indoor and outdoor convention, recreational and entertainment facilities and to do all things incidental or necessary to facilitate these purposes. Under the Act, any facility newly constructed by the Authority must be suitable for multiple purposes and designed and constructed to meet NFL franchise standards.
The Authority, in furtherance of the purposes for which it was created, may also borrow, invest, disburse funds and issue bonds.
The Authority issued its initial series of bonds in 1991 in the aggregate principal amount of $258,670,000 to finance construction of the Edward Jones Dome. The Authority’s bonds have been subsequently refinanced in 1993, 1997, 2003, 2007 and 2013.
Pursuant to the Financing Agreement, three series of bonds were issued, each secured by payments to be made by the State of Missouri (the “State”), St. Louis County, Missouri (the “County”) and the City of St. Louis (the “City”), respectively.
More information about the Authority’s Bonds is available from the Municipal Securities Rule making Board’s Electronic Municipal Market Access (EMMA) website by searching for the following CUSIP numbers applicable to each of the State, County and City-sponsored bonds:
|Sponsor||Series Designation||Base CUSIP|
|State of Missouri||Series A||60636M|
|St. Louis County||Series B||791340|
|City of St. Louis||Series C||791687|
The Authority consists of up to eleven commissioners appointed as follows: up to three commissioners who shall be residents of the City may be appointed by the Mayor of the City with the advice and consent of the Board of Aldermen; up to three commissioners who shall be residents of the County may be appointed by the County Executive of the County with the advice and consent of the County Council; and up to five commissioners, two of whom shall be residents of the City, two of whom shall be residents of the County, and one of whom shall be a resident of the City, the County or a county contiguous to St. Louis County, may be appointed by the Governor of the State of Missouri with the advice and consent of the Senate. Each commissioner must be a qualified voter of the State of Missouri. Initial members were appointed to staggered terms of office and successor members are appointed for six year terms. Each commissioner holds office after the expiration of his or her term until a successor is appointed.