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Councilmember seeks ordinance language making bonds contingent after staff flags unpaid Missouri contract
Summary
City staff told council members the State of Missouri issued a contract tied to federal funds that have not yet been received; a councilmember proposed adding Section 6 to bond ordinances to make issuance contingent on the federal award to avoid exposing the city to unfunded obligations.
A City staff member said the State of Missouri has issued a contract to the city but the federal funding that would pay it has not yet been received, prompting a councilmember to propose language that would make certain bond obligations contingent on the federal award.
The councilmember said the proposed committee substitute would add a Section 6 to bond ordinances stating that bonds are contingent on the federal award being provided to the State of Missouri. "You will see we have a committee sub for this ordinance actually in several of, couple of other ordinances as well, adding a section 6 that indicates that these bonds are contingent upon, the the federal award being provided to…
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