Riverfront Hotel Community Improvment District
Details about the Riverfront Hotel Community Improvment District
Ordinance No. 68447 specifies that the District shall be in existence for "no less than one (1) year and until all obligations issues by the District have been paid" (Section 6). The District has the authority to borrow revenue and to "levy a retail sales tax and use tax" (Petition, page 2).
This District is a single address at 100 N. 4th Street.
Five (5) directors appointed by the Mayor with the consent of the Board of Aldermen.
Apply to Serve (2 openings)
Openings include appointments labeled "Serving Beyond Term."
Serving Beyond Term
Serving Beyond Term
Ordinance 68447; Mo. Rev. Stat. Sections 67.1401 through 67.1571.
Board Duties and Purpose
Pursuant to the CID Act, the District is authorized, at any time, to issue obligations for the purpose of carrying out any of its powers, duties, or purposes. Such obligations shall be payable out of all, part or any combination of the revenues of the District and may be further secured by all or any part of any property or any interest in any property by mortgage or any other security interest granted. Such obligations shall be authorized by resolution of the District, and if issued by the District shall be dated such date or dates, and shall mature at such time or times, but not more than twenty (20) years from the date of issuance, as the resolution shall specify. Such obligations shall be in such denominations, bear such interest at such rate or rates, be in such form, be payable in such place or places, be subject to redemption as such resolution may provide and be sold at either public or private sale at such prices as the District shall determine subject to the provisions of Section 108.170, RSMo.
Member RequirementsAppointments require Board of Aldermen approval.
In accordance with the Petition to Establish, the board of directors will consist of "five (5) property owners or their legally authorized representatives appointed by the Mayor with the consent of the Board of Aldermen" (page 1). The District's bylaws further clarify that board members must "be an owner as defined in Section 67.1401.2 (11) of the CID Act of real property located within the District (or a legally authorized representative thereof)" (page 2). The bylaws also state that board members (called "Directors" in the document) will serve terms of 4-years (page 3).
Successor Directors, whether to serve a new term or to fill a vacancy on the board not filled by an interim director, shall be appointed pursuant to the petition and the procedures of section 67.1541 of the CID Act. Successors shall serve terms of 4-years.