Robertson Fire Protection District of St. Louis County, Missouri


CUSIP 770627EJ2
  • Issue Currency: United States of America Dollars
  • Announcement Date: 21-Aug-2018
  • News: Moodys Investors Services, Inc. (Moodys), released a report on August 15, 2018, changing its rating on the Districts General Obligation Bonds as shown on the following table: Securities Previous Rating New Rating General Obligation Bonds Aa3 A1 Moodys has also assigned a negative outlook. The rating change was based on a material decline in liquidity as a result of a payment withheld by the City of Hazelwood, Missouri (the City). Additional information about the rating change may be obtained by consulting the report issued by Moodys and any subsequent reports relating to the District. As described in the official statements for the above-referenced Bonds, the District and the City entered into an agreement (the Agreement) memorializing the Citys obligations under the terms of a Court Order entered by the St. Louis County Circuit Court in 1995 (the Court Order) which resulted from litigation between the City and the District regarding the annexation of a portion of the District by the City. Beginning January 1, 1996, and for each year thereafter, the City is required, pursuant to the Court Order and the Agreement, to pay the District the required annual fee. On December 20, 2017, the Council of the City passed a resolution approving and authorizing the delivery of a Notice of Termination for the Agreement to the District. The Notice of Termination stated that the termination of the Agreement would be effective as of December 31, 2018. The City has not paid the District the annual fee due in 2018. The District has initiated Court proceedings in connection with this matter, which are currently in the discovery phase. Copies of the Districts Petition (St. Louis Circuit Court Cause No. 18SL-CC00749, which was consolidated with St. Louis Circuit Court Cause No. 18SL-CC00771) and the Districts Motion for Sanctions Arising from Contempt of Court by City of Hazelwood (St. Louis Circuit Court Cause No.
CUSIP 770627EH6
  • Issue Currency: United States of America Dollars
  • Announcement Date: 21-Aug-2018
  • News: Moodys Investors Services, Inc. (Moodys), released a report on August 15, 2018, changing its rating on the Districts General Obligation Bonds as shown on the following table: Securities Previous Rating New Rating General Obligation Bonds Aa3 A1 Moodys has also assigned a negative outlook. The rating change was based on a material decline in liquidity as a result of a payment withheld by the City of Hazelwood, Missouri (the City). Additional information about the rating change may be obtained by consulting the report issued by Moodys and any subsequent reports relating to the District. As described in the official statements for the above-referenced Bonds, the District and the City entered into an agreement (the Agreement) memorializing the Citys obligations under the terms of a Court Order entered by the St. Louis County Circuit Court in 1995 (the Court Order) which resulted from litigation between the City and the District regarding the annexation of a portion of the District by the City. Beginning January 1, 1996, and for each year thereafter, the City is required, pursuant to the Court Order and the Agreement, to pay the District the required annual fee. On December 20, 2017, the Council of the City passed a resolution approving and authorizing the delivery of a Notice of Termination for the Agreement to the District. The Notice of Termination stated that the termination of the Agreement would be effective as of December 31, 2018. The City has not paid the District the annual fee due in 2018. The District has initiated Court proceedings in connection with this matter, which are currently in the discovery phase. Copies of the Districts Petition (St. Louis Circuit Court Cause No. 18SL-CC00749, which was consolidated with St. Louis Circuit Court Cause No. 18SL-CC00771) and the Districts Motion for Sanctions Arising from Contempt of Court by City of Hazelwood (St. Louis Circuit Court Cause No. -2- 667811) are attached to this Notice as Exhibit A and Exhibit B. It is not possible at this time to assess the likelihood of judgment in favor of the District.
CUSIP 770627DR5
  • Issue Currency: United States of America Dollars
  • Announcement Date: 21-Aug-2018
  • News: Moodys has also assigned a negative outlook. The rating change was based on a material decline in liquidity as a result of a payment withheld by the City of Hazelwood, Missouri (the City). Additional information about the rating change may be obtained by consulting the report issued by Moodys and any subsequent reports relating to the District. As described in the official statements for the above-referenced Bonds, the District and the City entered into an agreement (the Agreement) memorializing the Citys obligations under the terms of a Court Order entered by the St. Louis County Circuit Court in 1995 (the Court Order) which resulted from litigation between the City and the District regarding the annexation of a portion of the District by the City. Beginning January 1, 1996, and for each year thereafter, the City is required, pursuant to the Court Order and the Agreement, to pay the District the required annual fee. On December 20, 2017, the Council of the City passed a resolution approving and authorizing the delivery of a Notice of Termination for the Agreement to the District. The Notice of Termination stated that the termination of the Agreement would be effective as of December 31, 2018. The City has not paid the District the annual fee due in 2018. The District has initiated Court proceedings in connection with this matter, which are currently in the discovery phase. Copies of the Districts Petition (St. Louis Circuit Court Cause No. 18SL-CC00749, which was consolidated with St. Louis Circuit Court Cause No. 18SL-CC00771) and the Districts Motion for Sanctions Arising from Contempt of Court by City of Hazelwood (St. Louis Circuit Court Cause No. -2- 667811) are attached to this Notice as Exhibit A and Exhibit B. It is not possible at this time to assess the likelihood of judgment in favor of the District. The information contained in this Notice has been submitted by the District pursuant to contractual undertakings the District made in accordance with SEC Rule 15c2-12. Nothing contained in the undertaking or this Notice is, or should be construed as, a representation by the District that the information included in this notice constitutes all of the information that may be material to a decision to invest in, hold or dispose of any of the securities listed above, or any other securities of the District.



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