ORDINANCE NO authorizing the issuance of not to exceed $37,000,000 principal amount of Subordinate

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1 ORDINANCE NO AN ORDINANCE, amending Ordinance No , adopted December 2, 2010, authorizing the issuance of not to exceed $37,000,000 principal amount of Subordinate Wastewater System Revenue Bonds, (State of Missouri Direct Loan Program) Series 2010C of The Metropolitan St. Louis Sewer District. WHEREAS, Ordinance No , adopted December 2, 2010, authorized the issuance of not to exceed $37,000,000 principal amount of Subordinate Wastewater System Revenue Bonds (State of Missouri Direct Loan Program) Series 2010C (the Bonds ); and WHEREAS, the Board of Trustees hereby finds it necessary, desirable and in the best interest of the District to amend certain provisions of Ordinance No NOW, THEREFORE, BE IT ORDAINED BY THE Board of Trustees OF THE Metropolitan St. Louis Sewer District, AS FOLLOWS: Section One. Section 101 of Ordinance No is hereby amended by deleting the existing definition of Administrative Fee and inserting the following in substitution thereof: Administrative Fee means (a) for the period from the Closing Date to December 31, 2017, the semiannual administrative fee of DNR equal to 0.50% of the aggregate amount of the Bonds Outstanding as of each Administrative Fee Calculation Date and (b) for the period from January 1, 2018 and thereafter, the semiannual administrative fee of DNR equal to 0.25% of the aggregate amount of the Bonds Outstanding as of each Administrative Fee Calculation Date (including the final maturity date of the Bonds) payable to the Paying Agent within 30 days after the District s receipt of a statement from the Paying Agent for deposit to the Administrative Expense Fund and subsequent transfers to DNR as described in Section 9 of the Escrow Agreement. Section Two. Except as otherwise amended by this Ordinance, all provisions of Ordinance are hereby ratified, approved and confirmed.

2 NOTICE OF MEETING Public notice is hereby given that a meeting of the Board of Trustees of the Metropolitan St. Louis Sewer District, will be held in Room 109 at 2350 Market Street, in St. Louis, Missouri, on, 2017, at.m., to consider and act upon the matters on the following tentative agenda and such other matters as may be presented at the meeting and determined to be appropriate for discussion at that time. 1. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $37,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2010C OF THE 2. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $39,769,300 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2011A OF THE 3. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $52,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2013A OF THE 4. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $75,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2015A OF THE 5. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $20,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2016A OF THE 6. AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $75,500,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2016B OF THE 7. Other matters. Copies of all Ordinances proposed to be introduced for consideration by the Board of Trustees at the meeting are available for public inspection at the office of the Secretary-Treasurer. The meeting will be open to the public. DATED:, TIM R. SNOKE Secretary-Treasurer

3 CERTIFICATE REGARDING NOTICE OF MEETING I, the undersigned, certify that (1) the attached notice of meeting of the Board of Trustees of the Metropolitan St. Louis Sewer District, held on, 2017, was posted at least 24 hours (excluding weekends and holidays) prior to the commencement of the meeting on a bulletin board or other prominent place which is easily accessible to the public and clearly designated for posting notices at the principal office and meeting place of the Board of Trustees, and was made available at least 24 hours (excluding weekends and holidays) prior to the commencement of said meeting to any representative of the news media who requested notice of the meeting, and (2) copies of all proposed Ordinances introduced for consideration by the Board of Trustees at said meeting were made available for public inspection at the office of the Secretary-Treasurer prior to the time of said meeting. Dated:, Secretary-Treasurer The foregoing ordinance was adopted on October 12, 2017.

4 EXCERPT OF MINUTES OF MEETING The Board of Trustees of the Metropolitan St. Louis Sewer District, met on, 2017, at.m. in Room 109 at 2350 Market Street, in St. Louis, Missouri. The following officers were present or absent as indicated: Name/Title James Faul, Chair Rev. Ronald Bobo, Vice Chair Ruby Bonner, Trustee Annette Mandel, Trustee Michael Yates, Trustee James I. Singer, Trustee Present/Absent The Chair declared that a quorum was present and called the meeting to order. * * * * (Other Proceedings) * * * * The matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $37,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2010C OF THE Thereupon, the matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $39,769,300 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2011A OF THE -1-

5 Thereupon, the matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $52,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2013A OF THE Thereupon, the matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $75,000,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2015A OF THE Thereupon, the matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $20,000,000 PRINCIPAL AMOUNT OF -2-

6 MISSOURI DIRECT LOAN PROGRAM) SERIES 2016A OF THE Thereupon, the matter of amending Ordinance No came on for consideration. Trustee moved and Trustee _ seconded for the second reading and passage of AN ORDINANCE AMENDING ORDINANCE NO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $75,500,000 PRINCIPAL AMOUNT OF MISSOURI DIRECT LOAN PROGRAM) SERIES 2016B OF THE * * * * (Other Proceedings) * * * * There being no other business to come before the meeting, on motion duly made, seconded, and carried, the meeting was adjourned. (Seal) Secretary-Treasurer -3-

7 [FORM OF OPINION OF PROGRAM BOND COUNSEL], 2017 Metropolitan St. Louis Sewer District Missouri Department of Natural Resources Jefferson City, Missouri UMB Bank, N.A., as Paying Agent St. Louis, Missouri RE: Subordinate Wastewater System Revenue Bonds (State of Missouri Direct Loan Program) Series 2010C of the Metropolitan St. Louis Sewer District Ladies and Gentlemen: The above-captioned bonds (the Bonds ) have been issued pursuant to Ordinance No (the Bond Ordinance ) adopted on December 9, 2010 by the Board of Trustees of Metropolitan St. Louis Sewer District (the District ). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Bond Ordinance. On, 2017, the Board of Trustees of the District, with the consent of the Missouri Department of Natural Resources, approved Ordinance No. (the Amending Ordinance ) amending the Bond Ordinance to provide for the reduction of the semiannual administrative fee of the Missouri Department of Natural Resources charged in connection with the Bonds. Section 1101 of the Bond Ordinance provides that before any amendment to the Bond Ordinance becomes effective there shall have been delivered to the Owners and the Paying Agent an opinion of Bond Counsel stating that the amendment is permitted by the Bond Ordinance and the Act, complies with their respective terms and is valid and binding upon the District in accordance with its terms. We have examined the Bond Ordinance, the Amending Ordinance, and such other certificates and proceedings as we deem appropriate in connection with this opinion, including the written consent of the Missouri Department of Natural Resources. Based upon the foregoing, we are of the opinion as of the date hereof that the amendment of the Bond Ordinance by the Amending Ordinance is permitted by the Bond Ordinance and the Act complies with their respective terms, and the Bond Ordinance, as amended by the Amending Ordinance, will be valid and binding upon the District in accordance with its terms. This opinion is limited solely to the matters set forth herein and no other opinion is to be inferred or implied from this opinion. This opinion may not be used or relied upon by or published or communicated to any other party for any purpose whatsoever without our prior written approval in each instance. SWC/mas Very truly yours,

PROPOSED ORDINANCE NO. XXXXX THE METROPOLITAN ST. LOUIS SEWER DISTRICT. Relating to:

PROPOSED ORDINANCE NO. XXXXX THE METROPOLITAN ST. LOUIS SEWER DISTRICT. Relating to: PROPOSED ORDINANCE NO. XXXXX OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT Relating to: NOT TO EXCEED $47,722,204* WASTEWATER SYSTEM REVENUE BOND (WIFIA DEER CREEK SANITARY TUNNEL PUMP STATION AND SANITARY