1. law, govt and politics
2. law enforcement
3. fire department

NEW ISSUE - BANK QUALIFIED
BOOK-ENTRY ONLY
MOODY’S RATING: Aa2
See “BOND RATING” herein.
In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law and assuming continued compliance
with certain requirements of the Internal Revenue Code of 1986, as amended (the “Code”), (1) the interest on the Bonds
(including any original issue discount properly allocable to an owner thereof) is excludable from gross income for federal
income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on
individuals and corporations, (2) the interest on the Bonds is exempt from income taxation by the State of Missouri and (3)
the Bonds are “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code. See “TAX
MATTERS” in this Official Statement.
WENTZVILLE FIRE PROTECTION DISTRICT
(ST. CHARLES COUNTY, MISSOURI)
$5,000,000
GENERAL OBLIGATION BONDS
SERIES 2014
Dated: Date of Issuance
Due: May 15, as shown on the inside cover
The General Obligation Bonds, Series 2014 (the “Bonds”) will be issued by the Wentzville Fire Protection
District (St. Charles County, Missouri) (the “District”) for the purpose of providing funds to (1) purchase real property,
construct, equip and maintain fire stations, and purchase and equip fire trucks, fire protection and fire fighting apparatus
and auxiliary equipment, (2) repay leases and certificates of participation and (3) pay the costs of issuing the Bonds, as
further described herein under the caption “PLAN OF FINANCING.”
Principal of the Bonds is payable annually as set forth on the inside cover of this Official Statement, commencing
on May 15, 2015. Interest on the Bonds is payable semiannually on each May 15 and November 15, commencing on
May 15, 2015, by check or draft (or by wire transfer in certain circumstances as described herein) to the persons who are
the registered owners of the Bonds as of the close of business on the first day of the month of the applicable interest
payment date.
The Bonds are subject to redemption prior to maturity as described herein.
THE BONDS AND INTEREST THEREON WILL CONSTITUTE GENERAL OBLIGATIONS OF THE
DISTRICT, PAYABLE FROM AD VALOREM TAXES WHICH MAY BE LEVIED WITHOUT LIMITATION AS TO
RATE OR AMOUNT UPON ALL OF THE TAXABLE TANGIBLE PROPERTY, REAL AND PERSONAL, WITHIN
THE TERRITORIAL LIMITS OF THE DISTRICT. See the caption “SECURITY FOR THE BONDS.”
See inside cover for maturities, principal amounts, interest rates, prices and CUSIP numbers.
The Bonds are offered when, as and if issued by the District and accepted by the Underwriter, subject to the
approval of validity by Gilmore & Bell, P.C., St. Louis, Missouri, Bond Counsel, and subject to certain other conditions.
Bond Counsel will also pass on certain matters relating to this Official Statement. Rognan & Associates is serving as
financial advisor to the District in connection with the issuance of the Bonds. It is expected that the Bonds will be
available for delivery through the facilities of The Depository Trust Company in New York, New York on or about
November 25, 2014.
Baird
The date of this Official Statement is November 13, 2014.
$5,000,000
WENTZVILLE FIRE PROTECTION DISTRICT
GENERAL OBLIGATION BONDS
SERIES 2014
MATURITY SCHEDULE
Base CUSIP: 95073N
Maturity
(May 15)
Principal
Amount
Interest
Rate
Price
CUSIP
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
$ 25,000
350,000
250,000
200,000
175,000
200,000
200,000
200,000
225,000
250,000
250,000
250,000
250,000
275,000
275,000
300,000
300,000
300,000
300,000
425,000
2.000%
2.000
3.000
3.000
3.000
2.000
2.000
2.000
3.000
3.000
3.000
3.000
3.000
3.000
3.000
3.000
3.000
3.125
3.125
3.250
100.801%
102.271
105.753
107.162
108.041
102.617
101.831
100.693
107.353
106.806
105.927
104.623
103.338
102.071
100.822
100.000
98.717
99.001
98.273
99.285
AA9
AB7
AC5
AD3
AE1
AF8
AG6
AH4
AJ0
AK7
AL5
AM3
AN1
AP6
AQ4
AR2
AS0
AT8
AU5
AV3
WENTZVILLE FIRE PROTECTION DISTRICT
209 West Pearce Boulevard
Wentzville, Missouri 63385
(636) 332-9869
BOARD OF DIRECTORS
Jennifer Houston, Chairwoman & Director
Robert Hawkins, Treasurer & Director
Robert Mainieri, Secretary & Director
DISTRICT ADMINISTRATION
Mike Marlo, Fire Chief
John Schneider, Assistant Chief
Christopher Cuddihee, Fire Marshal
Stacy Krieger, Administrative Assistant
DISTRICT’S COUNSEL
Spector, Wolfe, McLaughlin & O’Mara, LLC
St. Louis, Missouri
FINANCIAL ADVISOR
Rognan & Associates
St. Louis, Missouri
BOND COUNSEL
Gilmore & Bell, P.C.
St. Louis, Missouri
PAYING AGENT
UMB Bank, N.A.
St. Louis, Missouri
REGARDING USE OF THIS OFFICIAL STATEMENT
____________________________
THE BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER
ANY STATE SECURITIES OR “BLUE SKY” LAWS. THE BONDS ARE OFFERED PURSUANT TO
AN EXEMPTION FROM REGISTRATION WITH THE SECURITIES AND EXCHANGE
COMMISSION.
The information set forth herein has been obtained from the District and other sources that are
deemed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not to be
construed as a representation by, the District.
No dealer, broker, salesperson or any other person has been authorized by the District or the
Underwriter to give any information or make any representations, other than those contained in this
Official Statement, in connection with the offering of the Bonds, and if given or made, such other
information or representations must not be relied upon as having been authorized by any of the
foregoing. This Official Statement does not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the Bonds by any person in any state in which it is unlawful for such
person to make such offer, solicitation or sale. The information herein is subject to change without
notice, and neither the delivery of this Official Statement nor the sale of any of the Bonds hereunder
shall under any circumstances create any implication that there has been no change in the affairs of the
District or the other matters described herein since the date hereof.
IN CONNECTION WITH THE OFFERING OF THE BONDS, THE UNDERWRITER
MAY OVER-ALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE
MARKET PRICE OF SUCH BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE
PREVAIL IN THE OPEN MARKET.
SUCH STABILIZING, IF COMMENCED, MAY BE
DISCONTINUED AT ANY TIME.
___________________________
TABLE OF CONTENTS
Page
Page
INTRODUCTION .............................................. 1 General ......................................................... 1 The District ................................................... 1 Purpose of the Bonds.................................... 1 Security for the Bonds .................................. 1 Continuing Disclosure .................................. 2 FINANCIAL INFORMATION CONCERNING
THE DISTRICT ................................................ 13 Accounting, Budgeting and Auditing
Procedures .......................................... 13 Fund Balances Summary ............................ 13 Sources of Revenue..................................... 14 Risk Management ....................................... 15 Employee Retirement Plans ........................ 15 Employee Relations .................................... 15 THE BONDS ....................................................... 2 General ......................................................... 2 Redemption Provisions................................. 2 Book-Entry Only System ............................. 3 Registration, Transfer and Exchange of
Bonds ................................................... 5 PROPERTY TAX INFORMATION
CONCERNING THE DISTRICT.................... 16 Property Valuations .................................... 16 Property Tax Levies and Collections .......... 17 Tax Rates .................................................... 18 Major Property Taxpayers .......................... 19 SECURITY FOR THE BONDS ........................ 6 PLAN OF FINANCING ..................................... 6 Authorization of Bonds ................................ 6 The Project ................................................... 6 Refunding ..................................................... 6 Verification of Mathematical Computations 7 Sources and Uses of Funds ........................... 7 LEGAL MATTERS .......................................... 19 TAX MATTERS ................................................ 20 Opinion of Bond Counsel ........................... 20 Other Tax Consequences ............................ 20 GENERAL AND ECONOMIC
INFORMATION CONCERNING THE
DISTRICT ........................................................... 8 Location and Size ......................................... 8 Government and Organization ..................... 8 Facilities and Equipment .............................. 9 Fire fighting and Emergency Medical Calls 10 Dispatching................................................. 10 District Insurance Classification Ratings ... 10 CONTINUING DISCLOSURE
UNDERTAKING............................................... 22 BOND RATING ................................................ 23 LITIGATION .................................................... 23 UNDERWRITING ............................................ 24 FINANCIAL ADVISOR ................................... 24 DEBT STRUCTURE OF THE DISTRCT ..... 11 Overview .................................................... 11 General Obligation Indebtedness ............... 11 Overlapping and Underlying Indebtedness 11 Debt Service Requirements ........................ 12 Legal Debt Capacity ................................... 12 History of Debt Payment ............................ 12 Future Debt ................................................. 12 CERTAIN RELATIONSHIPS ......................... 24 MISCELLANEOUS .......................................... 24 APPENDIX A – District’s Financial Statements
for the Fiscal Year Ended December 31, 2013 APPENDIX B – Description of St. Charles
County, Missouri (i)
___________________________
THIS PAGE INTENTIONALLY
LEFT BLANK
___________________________
OFFICIAL STATEMENT
WENTZVILLE FIRE PROTECTION DISTRICT
(ST. CHARLES COUNTY, MISSOURI)
$5,000,000
GENERAL OBLIGATION BONDS
SERIES 2014
INTRODUCTION
The following introductory information is subject in all respects to more complete information
contained elsewhere in this Official Statement. The order and placement of materials in this Official
Statement, including the appendices hereto, are not to be deemed to be a determination of relevance,
materiality or relative importance, and this Official Statement, including the cover page and appendices,
should be considered in its entirety. The offering of the Bonds to potential investors is made only by means of
the entire Official Statement.
General
This Official Statement, including the cover page and appendices hereto, is furnished to prospective
purchasers in connection with the offering and sale of $5,000,000 aggregate principal amount of General
Obligation Bonds, Series 2014 (the “Bonds”) by the Wentzville Fire Protection District (St. Charles County,
Missouri) (the “District”). The issuance and sale of the Bonds have been authorized by a resolution of the
Board of Directors of the District adopted on November 13, 2014 (the “Resolution”). All capitalized terms
used herein and not otherwise defined herein have the meanings assigned to those terms in the Resolution.
The District
The District, a Missouri political subdivision, is located in St. Charles County, Missouri (the
“County”). It provides fire protection and emergency medical services to the western portions of the County
including the cities of Wentzville, Dardenne Prairie and Foristell, the villages of Josephville and Flint Hill,
portions of Lake St. Louis and O’Fallon, and a significant portion of the unincorporated County. The District
spans approximately 88 square miles and protects an estimated population of 70,000 people. For more
information concerning the District, see the captions “GENERAL AND ECONOMIC INFORMATION
CONCERNING THE DISTRICT,” “DEBT STRUCTURE OF THE DISTRICT” and “FINANCIAL
INFORMATION CONCERNING THE DISTRICT” herein.
Purpose of the Bonds
The Bonds are being issued for the purpose of providing funds to (1) purchase real property, construct,
equip and maintain fire stations, and purchase and equip fire trucks, protection and fire fighting apparatus and
auxiliary equipment, (2) repay leases and certificates of participation and (3) pay the costs of issuing the
Bonds. See the section herein captioned “PLAN OF FINANCING.”
Security for the Bonds
The Bonds will constitute general obligations of the District and will be payable as to both principal
and interest from ad valorem taxes, which may be levied without limitation as to rate or amount upon all
taxable tangible property, real and personal, within the territorial limits of the District. See the caption
“SECURITY FOR THE BONDS” herein.
Continuing Disclosure
The District has covenanted in an Omnibus Continuing Disclosure Undertaking dated as of
November 1, 2014 (the “Continuing Disclosure Undertaking”) to provide certain financial information and
operating data relating to the District and to provide notices of the occurrence of certain enumerated events
relating to the Bonds. The Continuing Disclosure Undertaking is being entered into by the District to enhance
the efficiency of the administration of the Bonds and to promote timely secondary market disclosure by the
District. The financial information, operating data and notice of events will be filed by the District in
compliance with Rule 15c2-12 promulgated by the Securities and Exchange Commission (the “Rule”). The
District is currently in full compliance with its prior limited continuing disclosure undertaking and the Rule.
See the section herein captioned “CONTINUING DISCLOSURE UNDERTAKING” herein.
THE BONDS
General
The Bonds are being issued in the aggregate principal amount of $5,000,000. The Bonds are dated as
of the date of original issuance and delivery thereof. Principal is payable on May 15 in the years and in the
principal amounts set forth on the inside cover page hereof, subject to redemption and payment prior to
maturity, upon the terms and conditions described under the section herein captioned “THE BONDS –
Redemption Provisions.” Interest on the Bonds is calculated at the rates per annum set forth on the inside
cover page, computed on the basis of a 360-day year of twelve 30-day months. The Bonds shall consist of
fully-registered bonds in denominations of $5,000 or any integral multiple thereof. Interest on the Bonds is
payable from the date thereof or the most recent date to which interest has been paid and is payable
semiannually on May 15 and November 15 in each year, beginning May 15, 2015.
Payment of the interest on the Bonds will be made to the person in whose name such Bond is
registered on the registration books (the “Bond Register”) at the close of business on the first day (whether or
not a Business Day) of the calendar month of an interest payment date (the “Record Date”). Interest on the
Bonds will be paid to the Registered Owners thereof by check or draft mailed by UMB Bank, N.A., St. Louis,
Missouri (the “Paying Agent”) to each Registered Owner at the address shown on the Bond Register or at
such other address as is furnished to the Paying Agent in writing by such Registered Owner, or by electronic
transfer to such Registered Owner upon written notice signed by such Registered Owner and given to the
Paying Agent not less than 15 days prior to the Record Date for such interest payment, containing the
electronic transfer instructions including the name and address of the bank (which shall be in the continental
United States), the ABA routing number and the account number to which such Owner wishes to have such
transfer directed and an acknowledgement that an electronic transfer fee is payable.
Principal or the Redemption Price (as defined herein) of the Bonds will be paid by check or draft to
the Registered Owner of such Bond at the maturity of such Bond or otherwise, upon presentation and surrender
of such Bond at the designated payment office of the Paying Agent.
Redemption Provisions
Optional Redemption. At the option of the District, the Bonds or portions thereof maturing on and
after May 15, 2025 may be called for redemption and payment prior to their Stated Maturity on and after
May 15, 2024, in whole or in part, at any time, in such amounts for each Stated Maturity as shall be
determined by the District, at the Redemption Price of 100% of the principal amount thereof, plus accrued
interest thereon to the Redemption Date (as defined herein).
Selection of Bonds to Be Redeemed. Bonds shall be redeemed only in the principal amount of $5,000
or any integral multiple thereof. When less than all of the Outstanding Bonds are to be redeemed, such Bonds
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shall be redeemed in such order of their Stated Maturities as determined by the District, and Bonds of less than
a full Stated Maturity shall be selected by the Paying Agent in $5,000 units of principal amount by lot or in
such other equitable manner as the Paying Agent may determine.
In the case of a partial redemption of Bonds, when Bonds of denominations greater than $5,000 are
then Outstanding, then for all purposes in connection with such redemption each $5,000 of face value shall be
treated as though it were a separate Bond of the denomination of $5,000. If it is determined that one or more,
but not all, of the $5,000 units of face value represented by any Bond are selected for redemption, then upon
notice of intention to redeem such $5,000 unit or units, the Registered Owner of such Bond or the Registered
Owner’s duly authorized agent shall present and surrender such Bond to the Paying Agent (1) for payment of
the price which such Bonds are to be redeemed (the “Redemption Price”) and interest to the date fixed for
redemption (the “Redemption Date”) of such $5,000 unit or units of face value called for redemption and
(2) for exchange, without charge to the Registered Owner thereof, for a new Bond or Bonds of the aggregate
principal amount of the unredeemed portion of the principal amount of such Bond. If the Registered Owner of
any such Bond shall fail to present such Bond to the Paying Agent for payment and exchange as aforesaid,
such Bond shall, nevertheless, become due and payable on the Redemption Date to the extent of the $5,000
unit or units of face value called for redemption (and to that extent only).
Notice of Redemption. Unless waived by any Registered Owner of Bonds to be redeemed, official
notice of any redemption shall be given by the Paying Agent on the District’s behalf, by mailing a copy of an
official redemption notice by first class mail at least 30 days and not more than 60 days prior to the
Redemption Date to the State Auditor of Missouri, the Underwriter (as defined herein) and each Registered
Owner of the Bond or Bonds to be redeemed at the address shown on the Bond Register.
The failure of any Registered Owner to receive the foregoing notice or any defect therein shall not
invalidate the effectiveness of the call for redemption.
So long as DTC is effecting book-entry transfers of the Bonds, the Paying Agent shall provide the
notices specified in the Resolution to DTC. It is expected that DTC will, in turn, notify its Participants and
that the Participants, in turn, will notify or cause to be notified the Beneficial Owners. Any failure on the part
of DTC or a Participant, or failure on the part of a nominee of a Beneficial Owner of a Bond (having been
mailed notice from the Paying Agent, a Participant or otherwise) to notify the Beneficial Owner of the Bond so
affected, will not affect the validity of the redemption of such Bond.
Effect of Call for Redemption. After an amount of money sufficient to pay the Redemption Price
has been deposited with the Paying Agent and notice of redemption has been given on the Redemption Date
designated in the notice, (1) the Bonds (or portions thereof) to be redeemed will become due and payable on
the Redemption Date at the Redemption Price specified in the notice and (2) from and after the Redemption
Date (unless the District defaults in the payment of the Redemption Price) such Bonds or portions of Bonds
shall cease to bear interest.
All Bonds that have been surrendered for redemption shall be canceled and destroyed by the Paying
Agent pursuant to the Resolution and shall not be reissued.
Book-Entry Only System
General. The Bonds are available in book-entry only form. Purchasers of the Bonds will not receive
certificates representing their interests in the Bonds. Ownership interests in the Bonds will be available to
purchasers only through a book-entry system (the “Book-Entry System”) maintained by The Depository
Trust Company (“DTC”), New York, New York.
The following information concerning DTC and DTC’s book-entry system has been obtained
from DTC. The District takes no responsibility for the accuracy or completeness thereof and neither the
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Indirect Participants nor the Beneficial Owners should rely on the following information with respect to
such matters, but should instead confirm the same with DTC or the Direct Participants, as the case may
be. There can be no assurance that DTC will abide by its procedures or that such procedures will not be
changed from time to time.
DTC and its Participants. DTC, the world’s largest securities depository, is a limited-purpose trust
company organized under the New York Banking Law, a “banking organization” within the meaning of the
New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the
meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the
provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for
over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money
market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with
DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities
transactions in deposited securities, through electronic computerized book-entry transfers and pledges between
Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct
Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing
corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust &
Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing
Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is
owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as
both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that
clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly
(“Indirect Participants”). DTC has a Standard & Poor’s rating of AA+. The DTC Rules applicable to its
Participants are on file with the Securities and Exchange Commission. More information about DTC can be
found at www.dtcc.com.
Purchases of Ownership Interests. Purchases of Bonds under the DTC system must be made by or
through Direct Participants, which will receive a credit for the Bonds on DTC’s records. The ownership
interest of each actual purchaser of each Bond (“Beneficial Owner”) is in turn to be recorded on the Direct
and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their
purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the
transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through
which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Bonds are to
be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of
Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the
Bonds, except in the event that use of the book-entry system for the Bonds is discontinued.
Transfers. To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are
registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by
an authorized representative of DTC. The deposit of Bonds with DTC and their registration in the name of
Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no
knowledge of the actual Beneficial Owners of the Bonds; DTC’s records reflect only the identity of the Direct
Participants to whose accounts such Bonds are credited, which may or may not be the Beneficial Owners. The
Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their
customers.
Notices. Conveyance of notices and other communications by DTC to Direct Participants, by Direct
Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners
will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be
in effect from time to time. Beneficial Owners of Bonds may wish to take certain steps to augment the
transmission to them of notices of significant events with respect to the Bonds, such as redemptions, tenders,
defaults, and proposed amendments to the Bond documents. For example, Beneficial Owners of Bonds may
wish to ascertain that the nominee holding the Bonds for their benefit has agreed to obtain and transmit notices
-4-
to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to
the registrar and request that copies of notices be provided directly to them.
Redemption notices will be sent to DTC. If less than all of the Bonds within a maturity are being
redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such
maturity to be redeemed.
Voting. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect
to Bonds unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its
usual procedures, DTC mails an Omnibus Proxy to the District as soon as possible after the record date. The
Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose
accounts Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy).
Payments of Principal, Redemption Price and Interest. Payment of principal or Redemption Price of
and interest on the Bonds will be made to Cede & Co., or such other nominee as may be requested by an
authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s
receipt of funds and corresponding detail information from the District or the Paying Agent, on the payment
date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to
Beneficial Owners will be governed by standing instructions and customary practices, as is the case with
securities held for the accounts of customers in bearer form or registered in “street name,” and will be the
responsibility of such Participant and not of DTC, the Paying Agent or District, subject to any statutory or
regulatory requirements as may be in effect from time to time. Payment of principal or Redemption Price of
and interest on the Bonds to Cede & Co. (or such other nominee as may be requested by an authorized
representative of DTC) is the responsibility of the District or Paying Agent, disbursement of such payments to
Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial
Owners will be the responsibility of Direct and Indirect Participants.
Discontinuation of Book-Entry System. DTC may discontinue providing its services as depository
with respect to the Bonds at any time by giving reasonable notice to the District or the Paying Agent. Under
such circumstances, in the event that a successor depository is not obtained, Bond certificates are required to
be printed and delivered.
The District may decide to discontinue use of the system of book-entry-only transfers through DTC
(or a successor securities depository). In that event, Bond certificates will be printed and delivered to DTC.
Registration, Transfer and Exchange of Bonds
The District will cause the Bond Register to be kept at the principal payment office of the Paying
Agent or such other office designated by the Paying Agent for the registration, transfer and exchange of the
Bonds as provided in the Resolution. Upon surrender of any Bond at the principal payment office of the
Paying Agent, or at such other office designated by the Paying Agent, the Paying Agent shall transfer or
exchange such Bond as provided in the Resolution.
The Paying Agent shall transfer or exchange such Bond for a new Bond or Bonds in any authorized
denomination of the same Stated Maturity and in the same aggregate or principal amount as the Bond that was
presented for transfer or exchange. Bonds presented for transfer or exchange shall be accompanied by a
written instrument or instruments of transfer or authorization for exchange, in a form and with guarantee of
signature satisfactory to the Paying Agent, duly executed by the Registered Owner thereof or by the Registered
Owner’s duly authorized agent. Any additional costs or fees that might be incurred in the secondary market,
other than fees of the Paying Agent, are the responsibility of the Registered Owners of the Bonds. If any
Registered Owner fails to provide a correct taxpayer identification number to the Paying Agent, the Paying
Agent may make a charge against such Registered Owner sufficient to pay any governmental charge required
to be paid as a result of such failure. The District and the Paying Agent shall not be required (i) to register the
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transfer or exchange of any Bond that has been called for redemption after notice of such redemption has been
mailed by the Paying Agent in accordance with the Resolution and during the period of 15 days next preceding
the date of mailing of such notice of redemption, or (ii) to register the transfer or exchange of any Bond during
a period beginning at the opening of business on the day after receiving written notice from the District of its
intent to pay Defaulted Interest and ending at the close of business on the date fixed for the payment of
Defaulted Interest pursuant to the Resolution.
SECURITY FOR THE BONDS
Pledge of Full Faith and Credit. The Bonds will constitute general obligations of the District and
will be payable as to both principal and interest from ad valorem taxes, which may be levied without limitation
as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the
District.
Levy and Collection of Annual Tax. Under the Resolution, the District has authorized the imposition
upon all of the taxable tangible property within the District of a direct annual tax sufficient to produce the
amounts necessary for the payment of the principal of and interest on the Bonds as the same become due and
payable in each year. Such taxes shall be extended upon the tax rolls in each year, and shall be levied and
collected at the same time and in the same manner as the other ad valorem taxes of the District are levied and
collected. The proceeds derived from said taxes shall be deposited in the Debt Service Fund, shall be kept
separate and apart from all other funds of the District and shall be used solely for the payment of the
principal of and interest on the Bonds, as and when the same become due, and the fees and expenses of the
Paying Agent.
PLAN OF FINANCING
Authorization of Bonds
The Bonds are authorized pursuant to and in full compliance with the Constitution and statutes of the
State of Missouri, including particularly Article VI, Section 26 of the Missouri Constitution and Chapter 321
of the Revised Statutes of Missouri, as amended. The issuance of the Bonds was approved by the voters at an
election duly held in the District on August 5, 2014, at which more than four-sevenths of the qualified voters
of the District approved the issuance of bonds of the District in the amount of $30,000,000. The Bonds are
being issued pursuant to the Resolution.
The Project
A portion of the proceeds of the Bonds will be used to purchase land for two additional fire stations
and to acquire various fire fighting equipment, including two rescue pumpers, four staff vehicles, a snow plow,
turnout gear and SCBA breathing equipment. The District expects to issue additional bonds over the next 5-6
years to construct and equip two new fire stations, rebuild and renovate two existing fire stations, and purchase
equipment for all of its fire stations.
Refunding
A portion of the proceeds of the Bonds, together with other legally available funds of the District, will
be used to advance refund the District’s Certificates of Participation (Wentzville Fire Protection District,
Lessee), Series 2007 (the “Series 2007 Certificates”), which are outstanding in the aggregate principal amount
of $1,280,000. On the date of issuance of the Bonds, the District will deposit with UMB Bank, N.A., St. Louis,
Missouri, as escrow agent (the “Escrow Agent”), proceeds of the Bonds and other legally available funds of
the District, as shown below under the caption “PLAN OF FINANCING - Sources and Uses of Funds.”
-6-
Pursuant to the Resolution and the Escrow Trust Agreement dated as of November 1, 2014, between the
District and the Escrow Agent (the “Escrow Agreement”), the Escrow Agent will use such funds to purchase
direct obligations of, or obligations the principal and interest on which are unconditionally guaranteed by, the
United States of America (the “Escrowed Securities”). The Escrowed Securities will mature in such
amounts and at such times as shall be sufficient, together with interest to accrue thereon and any cash deposit
in the Escrow Fund held by the Escrow Agent, to pay (a) the principal of and interest becoming due and
payable on the Series 2007 Certificates on each Certificate Payment Date to and including July 1, 2015, and
(b) the prepayment price of the Series 2007 Certificates to be prepaid, plus accrued interest through
July 1, 2015.
The Series 2007 Certificates maturing on July 1, 2016 and thereafter will be called for prepayment on
July 1, 2015, at a prepayment price of 100% of the outstanding principal amount thereof, plus accrued interest
to the prepayment date.
After the delivery of the Bonds and the deposit of a portion of the proceeds thereof with the Escrow
Agent, the Series 2007 Certificates will be payable from the funds on deposit in the Escrow Fund. The
Resolution and the Escrow Agreement provide that the funds deposited and held in the Escrow Fund are
irrevocably pledged to the payment of the Series 2007 Certificates and the interest thereon and may be applied
only to such payment.
Verification of Mathematical Computations
Upon delivery of the Bonds, Robert Thomas CPA, LLC, Shawnee Mission, Kansas, (the “Escrow
Verifier”), a firm of independent certified public accountants, will provide to the District and the Underwriter
a report indicating that such firm has examined, in accordance with standards established by the American
Institute of Certified Public Accountants, the information and assertions provided by the District and its
representatives. Included in the scope of its examination will be a verification of the mathematical accuracy of
certain computations relating to (a) the adequacy of the maturing principal amount of the Escrowed Securities
held in the Escrow Fund, interest earned thereon and certain uninvested cash to pay the principal and interest
on the Series 2007 Certificates becoming due and payable to and including the prepayment date (as described
under the caption “PLAN OF FINANCING - Refunding”), and (b) the mathematical computations
supporting the conclusion that the Bonds are not “arbitrage bonds” under Section 148 of the Code. Such
verification of the accuracy of the computations will be based upon information supplied on behalf of Rognan
& Associates and on interpretations of the Code provided by Bond Counsel.
Sources and Uses of Funds
The following table summarizes the estimated sources of funds, including the proceeds from the sale of
the Bonds, and the expected uses of such funds, in connection with the plan of financing:
Sources of Funds:
Par Amount of the Bonds
Cash Contribution
Net Original Issue Premium
Total
$5,000,000.00
275,000.00
122,378.25
$5,397,378.25
Uses of Funds:
Deposit to Project Fund
Deposit to Escrow Fund
Costs of Issuance (including Underwriter’s Discount)
Total
-7-
$3,927,343.68
1,339,513.82
130,520.75
$5,397,378.25
GENERAL AND ECONOMIC INFORMATION CONCERNING THE DISTRICT
Location and Size
The Wentzville Volunteer Fire Department, the predecessor to the District, was formed in 1928. In
1971, the Wentzville Volunteer Fire Department petitioned the St. Charles County Circuit Court to form a taxsupported fire protection district pursuant to Chapter 321 of the Revised Statutes of Missouri. As a result, an
election was held and passed by a majority of the voters and the District was formed. The District provides
fire protection and emergency medical services to the western portions of the County including the cities of
Wentzville, Dardenne Prairie and Foristell, the villages of Josephville and Flint Hill, portions of Lake St. Louis
and O’Fallon, and a significant portion of the unincorporated County. The District spans approximately 88
square miles and protects an estimated population of 70,000 people. Appendix B contains detailed information
regarding the County.
Government and Organization
The District is governed by a three-member Board of Directors (the “Board”). The members of the
Board, who must be registered voters of the District and must be 25 years of age or older, are elected by the
qualified voters of the District for six-year terms. All Board members are elected at-large and receive nominal
compensation. The Chairperson of the Board is elected by the Board from among its members. The Secretary
and Treasurer are appointed by the Board and may or may not be members of the Board.
The Board of Directors is responsible for the overall safety and soundness of the District, setting
policy and providing the fiscal management of the District.
The current members and officers of the Board are as follows:
Name
Office
Jennifer Houston
Robert Hawkins
Robert Mainieri
Chairwoman/Director
Treasurer/Director
Secretary/Director
Service Began
April 2012
July 2013
April 2013
Current Term Expires
April 2018
April 2015
April 2019
The Board appoints the Fire Chief, who is the Chief Administrative Officer of the District and is
responsible for implementing the policies set by the Board. Mike Marlo, the current Fire Chief, began serving
the District on September 27, 2001 as a reserve and was promoted to Fire Chief on November 4, 2013. Chief
Marlo has 38 years of emergency service experience with eight years of experience as Chief Administrator.
Chief Marlo has experience in all aspects of the fire fighting arena including: understanding labor and
management concerns, working to achieve revenue enhancement, administrating budgets and payroll,
purchasing equipment and working with contractors and vendors. Chief Marlo has an associate degree in Fire
Technology and Safety from St. Louis Community College, an Emergency Medical Technician-Paramedic
Degree from Saint Louis University, Firefighter I and II from St. Louis County Fire Academy and a degree
from St. Charles County Police Academy. He has received a Silver Medal of Valor, numerous EMS and Fire
Life Safety Awards and Letter of Accommodations and has been named Company Officer of the Year. He has
also held the following positions: Deputy Chief Instructor of St. Louis County Fire Academy, Reserve Deputy
Sheriff of St. Charles County Sheriff’s Department, Reserve Police Officer for Wentzville Police Department,
Duty Officer for the Presidential Debate with Hazardous Material Team and Duty Officer for the World Series
with Hazardous Material Team.
The Board also appoints an Assistant Chief, who currently is John Schneider. Assistant Chief
Schneider began his career with the City of Ferguson Fire Department in 1996 and joined the Metro North Fire
District in 2002. He held several different positions with both agencies and was also the Political Director and
Secretary/Treasurer of the Professional Firefighters of Eastern Missouri until December 2013. Assistant Chief
-8-
Schneider has an Associate of Applied Science in Fire Science (2011) from Columbia Southern University,
and is currently enrolled in the Bachelor of Fire Science program. He is a 1995 graduate of the Greater St.
Louis County Fire Academy. He is also an experienced Fire District Pension Trustee, Member of Fire District
Budget Committee, St. Louis County Fire Academy Board of Director, Campaign Manager/Treasurer for
successful Capital Improvement Bond Initiatives and member of Planning/Building Committee for new fire
station/administration building construction. Assistant Chief Schneider manages investments and banking
operations, oversees the management and financial operation of buildings and facilities and works with
insurance brokers and bankers to develop customized fire district products. Assistant Chief Schneider is a
member of Government Finance Officers' Association, and assisted in lobbying state-level elected officials
regarding fire districts’ needs. Assistant Chief Schneider is certified in MO Fire Officer I and II, MO
Firefighter I and II, EMT State of Missouri, Hazardous Materials Technician, FEMA ICS 100, 200, 300, 400,
MO Fire Instructor I.
The District currently has 40 career full-time paid employees and 8 reserve members, including a fire
chief, an assistant fire chief, 3 battalion chiefs, 9 captains and 24 firefighters. The District also employs a fire
marshal, a fire inspector/investigator and an administrative assistant. All firefighters have the State of
Missouri’s Firefighter II certification.
Facilities and Equipment
The District operates four permanent fire stations and one seasonal fire station, which is run by
volunteers during the St. Charles County Fair.
Headquarters and
Fire Station 1
(7,915 sq. ft.)
209 West Pearce Boulevard
Wentzville, Missouri 63385
1 2009 Smeal Rescue Pumper (750 gal) CAFS
1 1999 Smeal Rescue Pumper (1000 gal)
4 Chevrolet Tahoes (2001, 2008, 2009, 2011)
1 2011 Ford F150 Truck
1 2007 Chevrolet Trailblazer
1 1999 F25 Brush Truck
1 2005 Chevy Snow Plow Truck
Storage Facility and
Fire Station 2
(2,624 sq. ft.)
2135 Mette Road
Wentzville, Missouri 63385
1 Rescue Engine Company
Fire Station 3
(11,000 sq. ft.)
1146 Clinton Prinster Memorial Drive
Foristell, Missouri 63348
1 2003 Smeal Rescue Pumper (750 gal) CAFS
1 2002 Freight Liner Tanker (3,500 gal) CAFS
1 1999 F250 Ford Brush Truck (100 gal)
1 2012 F550 Rescue Truck
1 Public Safety Demonstration Trailer
Fire Station 4
(4,738 sq. ft.)
8200 Orf Road
O’Fallon, Missouri 63366
1 2008 Smeal Aerial (700 gal) 75 ft. ladder
1 2005 Smeal Rescue Pumper (750 gal)
1 2008 F350 Ford Brush Truck (100 gal)
1 2005 Chevy Snow Plow Truck
-9-
Fire fighting and Emergency Medical Calls
The following table sets forth the number of calls made and permits issued by the District during the
past five calendar years.
Year
Emergency
Medical
Fire Responses
Fire Prevention
Inspections
2009
2010
2011
2012
2013
1,309
1,416
1,915
1,855
1,941
267
241
230
238
178
3,129
3,084
3,128
2,075
1,690
Residential
Permits
844
722
575
507(1)
N/A
Commercial
Permits
66
86
113
143
139
_____________
(1)
Prior to 2012, the District legally permitted both single-family and multi-family residences. In August 2012, the State
of Missouri statutorily prohibited fire protection districts from permitting single-family residences.
Source: The District.
The fire loss in the District during 2013 was $3,053,628 or $43.62 per resident (less than 0.24% of the
assessed valuation of the District).
Dispatching
The St. Charles County Department of Dispatch and Alarm provides dispatching services for all fire
and emergency medical services throughout the County, including the District. A separate tax levy supports
the dispatching department. All of the District’s front line rescue vehicles are equipped with the latest
technology for emergency dispatching.
District Insurance Classification Ratings
The Insurance Services Office, Inc. (ISO) provides risk-related information to the insurance industry.
Among the information ISO provides is evaluations of the fire protection capabilities within communities
across the country. ISO does this with a Public Protection Classification rating system, with 1 representing
superior protection and 10 indicating the community does not meet ISO’s minimum criteria. ISO’s fire service
ratings have a significant impact on fire insurance rates. Areas that are more than 1,000 feet from a fire
hydrant or that are more than five miles from a fire station receive a rating of 9 because of inadequate water
supplies for fire protection. As of July 2014, each incorporated area within the District was rated 5, 6 or 6X.
[Remainder of Page Intentionally Left Blank]
-10-
DEBT STRUCTURE OF THE DISTRICT
Overview
The following table summarizes certain financial information concerning the District. This
information should be reviewed in conjunction with the information contained in this section and the excerpts
of financial statements of the District in Appendix A hereto.
District Population
2014 Assessed Valuation
2014 Estimated Actual Valuation
Outstanding General Obligation Bonds (“Direct Debt”)
Per Capita Direct Debt
Ratio of Direct Debt to Assessed Valuation
Ratio of Direct Debt to Estimated Actual Valuation
Overlapping General Obligation Debt (“Indirect Debt”)
Total Direct and Indirect Debt
Per Capita Direct and Indirect Debt
Ratio of Direct and Indirect Debt to Assessed Valuation
Ratio of Direct and Indirect Debt to Estimated Valuation
70,000
$1,305,652,141
$5,871,862,593
$5,000,000
$71.43
0.38%
0.09%
$128,101,616
$133,101,616
$1,901.45
10.19%
2.27%
General Obligation Indebtedness
Other than the Bonds now being issued, the District has no other general obligation bond indebtedness
outstanding.
Overlapping and Underlying Indebtedness
The following table sets forth overlapping and underlying indebtedness of political subdivisions with
boundaries overlapping the District as of September 1, 2014, and the percent attributable to the District. The
table was compiled from information furnished by the jurisdictions responsible for the debt, and the District
has not independently verified the accuracy or completeness of such information. Furthermore, political
subdivisions may have ongoing programs requiring the issuance of substantial additional bonds, the amounts
of which cannot be determined at this time.
Taxing
Jurisdiction
Wentzville R-IV School District’s
Fort Zumwalt School District
Francis Howell School District
St. Charles County Ambulance District
St. Charles Community College
City of O’Fallon
City of Lake St. Louis
Total
Outstanding
General Obligation
Bonds(1)
$178,963,677
138,649,907
152,222,861
7,155,000
31,790,000
20,835,000
12,845,000
Percent
Applicable
to District
61.69%
4.22
0.51
15.35
15.43
10.33
22.70
Dollar Amount
Applicable
to District
$110,402,692
5,851,026
776,337
1,098,293
4,905,197
2,152,256
2,915,815
$128,101,616
_____________
This table excludes neighborhood improvement district bonds, which are a general obligation of the issuer but are
expected to be paid from special assessments and for which the issuer may not levy a general property tax without
additional voter approval.
Source: Taxing jurisdictions records and EMMA: Municipal Securities Rulemaking Board.
(1)
-11-
Debt Service Requirements
The following schedule shows the yearly principal and interest requirements for the Bonds:
Fiscal Year Ending
December 31
Principal
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
Total
$ 25,000.00
350,000.00
250,000.00
200,000.00
175,000.00
200,000.00
200,000.00
200,000.00
225,000.00
250,000.00
250,000.00
250,000.00
250,000.00
275,000.00
275,000.00
300,000.00
300,000.00
300,000.00
300,000.00
425,000.00
$5,000,000.00
Interest
$
137,866.32
138,062.50
130,812.50
124,062.50
118,437.50
113,812.50
109,812.50
105,812.50
100,437.50
93,312.50
85,812.50
78,312.50
70,812.50
62,937.50
54,687.50
46,062.50
37,062.50
27,875.00
18,500.00
6,906.25
$1,661,397.57
Total
$
162,866.32
488,062.50
380,812.50
324,062.50
293,437.50
313,812.50
309,812.50
305,812.50
325,437.50
343,312.50
335,812.50
328,312.50
320,812.50
337,937.50
329,687.50
346,062.50
337,062.50
327,875.00
318,500.00
431,906.25
$6,661,397.57
Legal Debt Capacity
Under Article VI, Section 26(b) of the Constitution of Missouri, the District may incur indebtedness
for authorized fire protection district purposes not to exceed 5% of the valuation of taxable tangible property in
the District according to the last completed assessment upon the approval of four-sevenths of the qualified
voters in the District voting on the proposition at any municipal, primary or general election or two-thirds voter
approval on any other election date. The current legal debt limit of the District is approximately
$65,282,607.50. The total outstanding indebtedness of the District after issuance of the Bonds will be
$5,000,000.00, resulting in a legal debt margin for the District of $60,282,607.05.
History of Debt Payment
The District has never defaulted on the payment of any of its debt obligations.
Future Debt
Voters of the District have authorized the issuance of $30,000,000 of general obligation bonds. The
District expects to issue the remainder of the authorized amount over the next 5-6 years.
-12-
FINANCIAL INFORMATION CONCERNING THE DISTRICT
Accounting, Budgeting and Auditing Procedures
As of January 1, 2013, the District changed its basis of accounting from the modified cash basis of
accounting to the accrual method of accounting. Under the accrual method of accounting, both the
government-wide financial statements and the fiduciary fund financial statements are reported using the
economic resources measurement focus and the accrual basis of accounting. Revenues are reported when
earned and expenses are recorded when a liability is incurred. Property taxes are recognized as revenues in the
year for which they are levied. Governmental fund financial statements are reported using the current financial
resources measurement focus and the modified accrual basis of accounting. Revenues are recognized when
they are measurable and available. These accounting principles are generally accepted in the United State of
America.
Governmental Funds. All of the District’s basic services are reported in governmental funds, which
focus on how money flows into and out of these funds and the balances left at year-end that are available for
spending. Governmental funds report the acquisition of capital assets and payments for debt principal as
expenditures and not as changes to asset and debt balances. The General Fund is the operating fund of the
District. All tax receipts and other receipts that are not allocated by law or contractual agreement are
accounted for in this fund. The General Fund pays operating expenditures, fixed charges and capital
improvement costs not paid through other funds.
Fiduciary Funds. Fiduciary funds account for assets that are held in a trustee capacity such as
pension plan assets, assets held per trust agreements and similar arrangements.
Budget. Prior to December 1, the Board of Directors prepares a proposed operating budget for the
upcoming fiscal year. The Board of Directors holds open meetings and hearings to obtain taxpayer comments,
and then approves the budget before year-end. The operating budget includes proposed expenditures, revenues
and reserves. The original budget adopted by the District may be amended any time during the year, so long as
expenditures do not exceed the total revenue of the preceding fiscal year.
The audited financial statements of the District for the fiscal year ended December 31, 2013 are
included in this Official Statement as Appendix A. Financial statements for earlier years are available for
examination in the District’s office.
Fund Balances Summary
The following Summary Statement of Revenues, Expenditures and Changes in total Government
Funds was prepared from the District’s annual audited financial statements. The table set forth below should
be read in conjunction with the other financial statements and notes appertaining hereto set forth in
Appendix A of this Official Statement and the financial statements on file at the District’s office.
[Remainder of Page Intentionally Left Blank]
-13-
Summary Statement of Revenues, Expenditures and Changes in Total Government Funds
2011
Revenues
Property Taxes
Permits and Fees
Investment Income
Grant Income
Miscellaneous
Total Revenues
Expenditures:
Current
Fire prevention and suppression
Capital Outlay
Debt Service
Principal
Interest
Total Expenditures
2012
2013
$5,394,187
193,173
31,699
0
37,165
$5,656,224
$6,481,705
304,898
26,174
79,368
87,419
$6,979,564
$6,671,495
108,649(1)
24,700
0
24,999
$6,829,843
$6,177,731
263,400
$6,624,928
225,598
$6,439,832
291,940
358,874
106,112
$6,906,117
379,876
90,647
$7,321,049
203,429
75,589
$7,010,790
Excess (Deficiency) of Revenues over
Expenditures
(1,249,893)
(341,485)
(180,947)
Fund Balance Beginning of Year
$3,001,423
$1,751,530
$7,147,618(2)
Fund Balance End of Year
$1,751,530
$1,410,045
$6,966,671
_____________
(1)
As of August 2012, fire protection districts were no longer allowed to regulate the construction of single-family
residences, which resulted in a significant reduction of permit fees in 2013. Missouri law still permits fire districts to
require owners of multi-family housing projects to obtain fire safety permits before construction.
(2)
On January 1, 2013, the District changed its basis of accounting from the modified cash basis of accounting to the
accrual method. This resulted in an increase to the fund balance at the beginning of the 2013 fiscal year of $5,737,573.
Source: District’s Audited Financial Statements for the years 2011-2013.
Sources of Revenue
The District finances its operations primarily through local property taxes. Debt service on general
obligation bonds is financed solely through local property taxes. For the 2014 fiscal year, the District’s
sources of revenue are anticipated to be as follows:
Source
Tax Revenue
Building and Other Permits
Interest
Miscellaneous Revenue
Total Revenue
____________________
Amount
Percent
$6,719,732
150,000
24,000
18,856
$6,912,588
97.21%
2.17
0.35
0.27
100.00%
Source: District’s Budget for fiscal year ending December 31, 2014.
-14-
Risk Management
The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. There have been no significant
reductions in coverage from the prior year and settlements have not exceeded coverage for the past three years.
The District’s commercial insurance is written with Arch Insurance Company (Emergency Services
Insurance Program (“ESIP”)/McNeil & Company), which provides liability insurance coverage under one
comprehensive plan for all members (the “Plan”). The District pays an annual premium to ESIP for its
General Liability, Property, Crime, Public Officials’ Errors & Omissions, Director’s & Officers, Employment
Practices, Excess Liability and Automobile Liability coverage. Workers’ Compensation is written outside the
Plan with Missouri Employers Mutual. The District continues to carry commercial insurance for all other risks
of loss. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of
the past three years.
The District has established a risk management program and retains the risk related to its obligation to
provide medical and hospitalization benefits to its employees.
Employee Retirement Plans
The District has a defined contribution pension plan, which covers all employees who meet the plan’s
eligibility requirements. An eligible employee becomes a participant in the plan on the first entry date
following the later of the first anniversary of his/her employment commencement date and the completion of
the 1,000 hours of service, provided the employee has attained age 18. The District contributes, on behalf of
each participant, 100% of such participant’s elective deferral under the District sponsored Section 457 plan for
each designated matching period within a plan year, not to exceed $2,500 in any given plan year. The District
is also to contribute 13% of covered compensation (i.e., base salary plus scheduled overtime) allocated among
eligible participants, plus up to a 5% match. Participants are fully vested upon contribution. District
contributions to the plan for the year ended December 31, 2012 totaled $556,803.
The District contributed $540,415 (equal to 100% of its annual required contribution) to the plan in
the fiscal year ended December 31, 2013. The District’s Actuarial Accrued Liability (“AAL”) for the plan as
of January 1, 2014 was $651,000, resulting in no unfunded AAL and a funded ratio of 100%, as budgeted.
The District also offers its employees a deferred compensation plan created in accordance with
Section 457 of the Code. The plan is available to all employees and it permits participants to defer a portion of
their salaries and avoid paying taxes on the deferred portion until the withdrawal date. The deferred
compensation is not available to employees until termination, retirement, death or unforeseeable emergency.
The participant’s rights under the plan are equal to the fair market value of the deferred account of each
participant. The plan assets are held in trust by Mass Mutual.
For additional information regarding the aforementioned plans, see Notes 6 and 8 of the financial
statements included in this Official Statement as Appendix A.
Employee Relations
In January 2012, the District entered into a collective bargaining agreement, which expires
December 31, 2014, with the International Association of Firefighters Local 2665 (“I.A.F.F.”). Full-time fire
fighting employees, employed in the rank of battalion chief and below, belong to and are represented by
I.A.F.F. The District believes it has a strong relationship with its employees. The employees of the District
are not allowed by law to strike or engage in work stoppage, and the District has never been involved in any
such actions. The District expects that a new collective bargaining agreement, which will take effect January
1, 2015, will be finalized by December 1, 2014. The District anticipates no major changes.
-15-
PROPERTY TAX INFORMATION CONCERNING THE DISTRICT
Property Valuations
Assessment Procedure. All taxable real and personal property within the District is assessed annually
by the County Assessor. Missouri law requires that personal property be assessed at 33-1/3% of true value and
that real property be assessed at the following percentages of true value:
Residential real property ........................................................................................ 19%
Agricultural and horticultural real property............................................................ 12%
Utility, industrial, commercial, railroad and all other real property ....................... 32%
On January 1 in every odd-numbered year, each County Assessor must adjust the assessed valuation
of all real property located within the county in accordance with a two-year assessment and equalization
maintenance plan approved by the State Tax Commission.
The assessment ratio for personal property is generally 33-1/3% of true value. However, subclasses of
tangible personal property are assessed at the following assessment percentages: grain and other agricultural
crops in an unmanufactured condition, 0.5%; livestock, 12%; farm machinery, 12%; historic motor vehicles,
5%; and poultry, 12%.
The County Assessor is responsible for preparing the tax roll each year and for submitting the tax roll
to the Board of Equalization. The County Board of Equalization has the authority to adjust and equalize the
values of individual properties appearing on the tax rolls.
Current Assessed Valuation. The following table shows the total assessed valuation(1) and the
estimated actual valuation, by category, of all taxable tangible property situated in the District (including state
assessed railroad and utility property and areas in tax increment financing districts) according to the
assessment after Board of Equalization, subject to final adjustment for calendar year 2014 for property owned
as of January 1, 2014.
Type of Property
Real Estate:
Residential
Agricultural
Commercial
State Assessed Railroad and Utility
Locally Assessed Railroad and Utility
Total Real Estate
Personal Property
Locally Assessed Railroad and Utility
State Assessed Railroad and Utility
Total Real and Personal
______________
Total
Assessed
Valuation
Assessment
Rate
Total
Estimated Actual
Valuation(2)
$ 833,373,955
7,096,440
223,378,360
18,422,826
6,211,964
$1,088,483,545
19%
12%
32%
32%
32%
$4,386,178,711
59,137,000
698,057,375
57,571,331
19,412,388
$5,220,356,805
$ 210,720,245
2,663,619
3,784,732
$1,305,652,141
33 1/3%
33 1/3%
33 1/3%
$ 632,160,735
7,990,857
11,354,196
$5,871,862,593
(1)
Locally assessed railroad and utility property is included in the totals for the other categories of assessed valuation.
Assumes all personal property is assessed at 33-1/3%; because certain subclasses of tangible personal property are
assessed at less than 33-1/3%, the estimated actual valuation for personal property would likely be greater than that
shown above. See “Assessment Procedure” discussed above.
Source: St. Charles County Department of Revenue.
(2)
-16-
History of Property Valuations. The total assessed valuation of all taxable tangible property situated
in the District according to the assessments of January 1 in each of the following years has been as follows:
Year
Assessed Valuation
Percentage Change
2010
2011
2012
2013
2014
$1,312,937,637
1,264,759,675
1,304,185,404
1,273,518,689
1,305,652,141
N/A
-3.67%
+3.12
-2.35
+2.52
_______________
Source: St. Charles County Department of Revenue.
Property Tax Levies and Collections
Not later than September 30 of each year, the Board of Directors sets the rate of tax for the District
and files the tax rate with the County by October 1. Taxes are levied at the District’s tax rate per $100 of
assessed valuation. The County is responsible for reviewing the rate of tax to insure that it does not exceed
constitutional limits. Article X, Section 22 of the Missouri Constitution requires the District to adjust its
operating levy if the equalized assessed value of property within the District, excluding the value of new
construction and improvements, increases by a larger percentage than the increase in the general price level
from the previous year. In such an event, the District would be reviewed to reduce its operating levy to a rate
that would yield the same gross revenue, adjusted for changes in the general price level, as could have been
collected at the existing operating levy applied to the prior assessed value.
Taxes are levied on all taxable real and personal property owned as of January 1 in each year. Certain
properties, such as those used for charitable, education and religious purposes, are excluded from ad valorem
taxes for both real and personal property.
Real property within the District is assessed by the County Assessor. The County Assessor is
responsible for preparing the tax rolls each year and for submitting tax rolls to the County Board of
Equalization. The Board of Equalization has the authority to question and determine the proper value of
property and then adjust and equalize individual properties appearing on the tax rolls. After local appeal
procedures have been completed, the books are finalized and sent to the County Collector who prepares and
mails the tax statements.
By statute, tax bills are to be mailed in October; however, the volume of assessment complaints
required to be reviewed by the Board of Equalization can affect the date on which bills are actually mailed.
Taxes for real and personal property are due by December 31 after which date they become delinquent
and accrue a penalty of one percent per month. The St. Charles County Collector deducts a commission equal
to 1.6% of the taxes collected for his services. After such collections and deductions of commission, taxes are
distributed according to the taxing body’s pro-rata share.
The St. Charles County Collector is required to make disbursements of collected taxes to the District
each month. Because of the tax collection procedure described above, the District receives the bulk of its
moneys from local property taxes in the months of December, January and February.
-17-
Tax Rates
History of Tax Levies. The following tables show the District’s adjusted tax levies (per $100 of
assessed valuation) for the years 2010 through 2014:
Fiscal Year
Total Levy
2010
2011
2012
2013
2014
$0.4592
0.4858
0.4858
0.5080
0.5080
______________
Source: Audited Financial Statements for fiscal years ended December 31, 2010-2013; and Budget for fiscal year ending
December 31, 2014.
On November 4, 2014, the District’s voters approved a proposition to increase the tax levy by $0.25.
The District intends to use the additional funds to hire additional employees to staff two new fire stations
proposed to be constructed with the proceeds of the Bonds and the additional bonds to be issued by the
District.
Tax Collection Record. The following table sets forth tax collection information for the District for
the fiscal years 2009 through 2013:
Current and Delinquent
Taxes Collected(1)
Year Ended
December 31
Total Taxes
Levied(2)
Amount
%
2009
2010
2011
2012
2013
$5,975,283.54
6,039,225.58
6,242,797.06
6,375,287.59
6,536,650.94
$6,017,659.96
6,146,040.63
6,115,809.78
6,574,820.64
6,602,643.63
100.71%
101.77
97.97
103.13
101.01
(1)
Delinquent taxes are shown in the year payment is actually received, which may cause the percentage of current and
delinquent taxes collected to exceed 100%.
(2)
Includes the levies for the general fund, the ambulance fund, the pension fund and the dispatch fund and excludes a
1.6% collection fee payable to the County.
Source: Collector of Revenue St. Charles County, Missouri.
-18-
Delinquent Taxes Receivable. The following table sets forth the District’s schedule of delinquent
taxes receivable for the fiscal years 2009 through 2013 as of August 31, 2014:
Real
Estate
Personal
Property
Other
Total
0.00
648.47
514.46
1,538.41
38,277.41
$40,978.75
$11,270.15
10,472.21
15,938.34
15,829.82
44,205.18
$97,715.70
$0.00
0.00
0.00
0.00
0.00
$0.00
$ 11,270.51
11,120.68
16,452.80
17,368.23
82,482.59
$138,694.45
Fiscal
Year
2009
2010
2011
2012
2013
Total
$
Source: Collector of Revenue St. Charles County, Missouri.
Major Property Taxpayers
The following table sets forth the taxpayers owning property with the greatest amount of assessed
valuation within the District based on the valuation of property owned as of January 1, 2014, with taxes on
such property due by December 31, 2014. The District has not independently verified the accuracy or
completeness of such information.
Taxpayer
Type of Business
General Motors Corporation
Mastercard
Wal Mart Real Estate Business Trust
Lila Inc.
THF Wentzville Development LLC
Dierberg Wentzville LLC
Darlington Enclave at Winghaven UI LLC
Covington Dardenne Acquisition
Waterways Apartment LP
Cedar Lakes Apartment LP
Automotive Manufacturing
Mastercard
Sams/Walmart
Shoppes at Hawks Ridge
Retail/Developer
Retail Grocery
Enclave at Winghaven
Retail Town Square
Apartments
Apartments
Assessed
Valuation
% of District’s
Total Assessed
Valuation
$32,231,550
11,522,643
9,574,123
8,684,974
8,363,259
5,311,208
4,837,519
4,581,650
4,459,331
3,581,642
2.47%
0.88
0.73
0.67
0.64
0.41
0.37
0.35
0.34
0.27
$93,147,899
7.13%
Source: St. Charles County Department of Revenue.
LEGAL MATTERS
Legal matters with respect to the authorization, execution and delivery of the Bonds are subject to the
approval of Gilmore & Bell, P.C., St. Louis, Missouri, Bond Counsel, whose approving opinion will be
available at the time of delivery of the Bonds. Gilmore & Bell, P.C. will also pass upon certain legal matters
relating to this Official Statement.
-19-
The various legal opinions to be delivered concurrently with the delivery of the Bonds express the
professional judgment of the attorneys rendering the opinions as to the legal issues explicitly addressed therein.
By rendering a legal opinion, the opinion giver does not become an insurer or guarantor of that expression of
professional judgment, of the transactions opined upon, or of the future performance of parties to such
transaction, nor does the rendering of an opinion guarantee the outcome of any legal dispute that may arise out
of the transaction.
TAX MATTERS
The following is a summary of the material federal and State of Missouri income tax consequences of
holding and disposing of the Bonds. This summary is based upon laws, regulations, rulings and judicial
decisions now in effect, all of which are subject to change (possibly on a retroactive basis). This summary
does not discuss all aspects of federal income taxation that may be relevant to investors in light of their
personal investment circumstances or describe the tax consequences to certain types of owners subject to
special treatment under the federal income tax laws (for example, dealers in securities or other persons who do
not hold the Bonds as a capital asset, tax-exempt organizations, individual retirement accounts and other tax
deferred accounts, and foreign taxpayers), and, except for the income tax laws of the State of Missouri, does
not discuss the consequences to an owner under any state, local or foreign tax laws. The summary does not
deal with the tax treatment of persons who purchase the Bonds in the secondary market. Prospective investors
are advised to consult their own tax advisors regarding federal, state, local and other tax considerations of
holding and disposing of the Bonds.
Opinion of Bond Counsel
In the opinion of Gilmore & Bell, P.C., Bond Counsel, under the law existing as of the issue date of
the Bonds:
Federal and State of Missouri Tax Exemption. The interest on the Bonds (including any original
issue discount properly allocable to an owner thereof) is excludable from gross income for federal income tax
purposes and is exempt from income taxation by the State of Missouri.
Alternative Minimum Tax. Interest on the Bonds is not an item of tax preference for purposes of
computing the federal alternative minimum tax imposed on individuals and corporations, but is taken into
account in determining adjusted current earnings for the purpose of computing the alternative minimum tax
imposed on certain corporations.
Bank Qualification. The Bonds are “qualified tax-exempt obligations” within the meaning of Section
265(b)(3) of the Code.
Bond Counsel’s opinions are provided as of the date of the original issue of the Bonds, subject to the
condition that the District comply with all requirements of the Code that must be satisfied subsequent to the
issuance of the Bonds in order that interest thereon be, or continue to be, excludable from gross income for
federal income tax purposes. The District has covenanted to comply with all such requirements. Failure to
comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income for
federal and State of Missouri income tax purposes retroactive to the date of issuance of the Bonds. Bond
Counsel is expressing no opinion regarding other federal, state or local tax consequences arising with respect
to the Bonds but has reviewed the discussion under the heading “TAX MATTERS.”
Other Tax Consequences
Original Issue Discount. For federal income tax purposes, original issue discount (“OID”) is the
excess of the stated redemption price at maturity of a Bond over its issue price. The issue price of a Bond is
-20-
the first price at which a substantial amount of the Bonds of that maturity have been sold (ignoring sales to
bond houses, brokers, or similar persons or organizations acting in the capacity of Underwriter, placement
agents, or wholesalers). Under Section 1288 of the Code, OID on tax-exempt bonds accrues on a compound
basis. The amount of OID that accrues to an owner of a Bond during any accrual period generally equals
(1) the issue price of that Bond, plus the amount of OID accrued in all prior accrual periods, multiplied by
(2) the yield to maturity on that Bond (determined on the basis of compounding at the close of each accrual
period and properly adjusted for the length of the accrual period), minus (3) any interest payable on that Bond
during that accrual period. The amount of OID accrued in a particular accrual period will be considered to be
received ratably on each day of the accrual period, will be excludable from gross income for federal income
tax purposes, and will increase the owner’s tax basis in that Bond. Prospective investors should consult their
own tax advisors concerning the calculation and accrual of OID.
Original Issue Premium. If a Bond is issued at a price that exceeds the stated redemption price at
maturity of the Bond, the excess of the purchase price over the stated redemption price at maturity constitutes
“premium” on that Bond. Under Section 171 of the Code, the purchaser of that Bond must amortize the
premium over the term of the Bond using constant yield principles, based on the purchaser’s yield to maturity.
As premium is amortized, the owner’s basis in the Bond and the amount of tax-exempt interest received will be
reduced by the amount of amortizable premium properly allocable to the owner. This will result in an increase
in the gain (or decrease in the loss) to be recognized for federal income tax purposes on sale or disposition of
the Bond prior to its maturity. Even though the owner’s basis is reduced, no federal income tax deduction is
allowed. Prospective investors should consult their own tax advisors concerning the calculation and accrual of
bond premium.
Sale, Exchange or Retirement of Bonds. Upon the sale, exchange or retirement (including
redemption) of a Bond, an owner of the Bond generally will recognize gain or loss in an amount equal to the
difference between the amount of cash and the fair market value of any property received on the sale, exchange
or retirement of the Bond (other than in respect of accrued and unpaid interest) and such owner’s adjusted tax
basis in the Bond. To the extent a Bond is held as a capital asset, such gain or loss will be capital gain or loss
and will be long-term capital gain or loss if the Bond has been held for more than 12 months at the time of
sale, exchange or retirement.
Reporting Requirements. In general, information reporting requirements will apply to certain
payments of principal, interest and premium paid on the Bonds, and to the proceeds paid on the sale of the
Bonds, other than certain exempt recipients (such as corporations and foreign entities). A backup withholding
tax will apply to such payments if the owner fails to provide a taxpayer identification number or certification
of foreign or other exempt status or fails to report in full dividend and interest income. The amount of any
backup withholding from a payment to an owner will be allowed as a credit against the owner’s federal income
tax liability.
Collateral Federal Income Tax Consequences. Prospective purchasers of the Bonds should be aware
that ownership of the Bonds may result in collateral federal income tax consequences to certain taxpayers,
including, without limitation, financial institutions, property and casualty insurance companies, individual
recipients of Social Security or Railroad Retirement benefits, certain S corporations with “excess net passive
income,” foreign corporations subject to the branch profits tax, life insurance companies, and taxpayers who
may be deemed to have incurred or continued indebtedness to purchase or carry or have paid or incurred
certain expenses allocable to the Bonds. Bond Counsel expresses no opinion regarding these tax
consequences. Purchasers of Bonds should consult their tax advisors as to the applicability of these tax
consequences and other federal income tax consequences of the purchase, ownership and disposition of the
Bonds, including the possible application of state, local, foreign and other tax laws.
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CONTINUING DISCLOSURE UNDERTAKING
The District will covenant in the Continuing Disclosure Undertaking to file certain financial
information and operating data relating to the District (updated within not later than 210 days following the
end of its fiscal year, which currently ends December 31) (the “Annual Report”) commencing with the
Annual Report for the fiscal year ending December 31, 2014, and to file notices of the occurrence of certain
enumerated events, if material. The Annual Report shall be filed by or on behalf of the District with the
Municipal Securities Rulemaking Board (the “MSRB”) through the Electronic Municipal Market Access
system (“EMMA”). The Annual Report shall include:
(a)
The audited financial statements of the District for the prior fiscal year, prepared in
accordance with the accounting principles described in the notes to the financial statements
included as a part of this Official Statement and audited by independent auditors.
(b)
Information relating to the District and its operations set forth in the tables of this Official
Statement under the following captions: “PROPERTY TAX INFORMATION
CONCERNING THE DISTRICT - Property Valuations - Current Assessed Valuation,”
“- Property Valuations - History of Property Valuations,” “- Tax Rates - History of Tax
Levies,” “- Tax Rates - Tax Collection Record,” “- Tax Rates - Delinquent Taxes
Receivable,” and “- Major Property Taxpayers.”
Within 10 business days after the occurrence of any of the following events, the District shall give, or
cause to be given to the MSRB through EMMA, notice of the occurrence of any of the following events with
respect to the Bonds (“Material Events”):
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
principal and interest payment delinquencies;
non-payment related defaults, if material;
unscheduled draws on debt service reserves reflecting financial difficulties;
unscheduled draws on credit enhancements reflecting financial difficulties;
substitution of credit or liquidity providers, or their failure to perform;
adverse tax opinions; the issuance by the Internal Revenue Service of proposed or final
determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other
material notices or determinations with respect to the tax status of the Bonds, or other
material events affecting the tax status of the Bonds;
modifications to rights of bondholders, if material;
bond calls, if material, and tender offers;
defeasances;
release, substitution or sale of property securing repayment of the Bonds, if material;
rating changes;
bankruptcy, insolvency, receivership or similar event of the District;
the consummation of a merger, consolidation, or acquisition involving the District or the sale
of all or substantially all of the assets of the District, other than in the ordinary course of
business, the entry into a definitive agreement to undertake such an action or the termination
of a definitive agreement relating to any such actions, other than pursuant to its terms, if
material; and
appointment of a successor or additional trustee or the change of name of the Paying Agent, if
material.
Nothing in the Continuing Disclosure Undertaking shall be deemed to prevent the District from
disseminating any other information using the means of dissemination set forth in the Continuing Disclosure
Undertaking, or any other means of communication, or including any other information in any Annual Report
or notice of occurrence of a Material Event, in addition to that which is required by the Continuing Disclosure
-22-
Undertaking. If the District chooses to include any information in any Annual Report or notice of occurrence
of a Material Event in addition to that which is specifically required, the District shall have no obligation to
update such information or include it in any future Annual Report or notice of occurrence of a Material Event.
All Annual Reports and notices of Material Events required to be filed by the District pursuant to the
Continuing Disclosure Undertaking must be submitted to the MSRB through EMMA. EMMA is an internetbased, online portal for free investor access to municipal bond information, including offering documents,
material event notices, real-time municipal securities trade prices and MSRB education resources, available at
www.emma.msrb.org. Nothing contained on EMMA relating to the District or the Bonds is incorporated by
reference in this Official Statement.
These covenants have been made in order to assist the Underwriter in complying with the Rule. The
Continuing Disclosure Undertaking is being entered into by the District to enhance the efficiency of the
administration of the District’s obligations, including the Bonds, and to promote timely secondary market
disclosure by the District.
On October 23, 2014, the District adopted bond policies and procedures that it believes will ensure
full and timely compliance with all continuing disclosure obligations in the future. The new policies and
procedures include: (1) designation of a bond compliance officer as the person responsible for complying with
the District’s continuing disclosure obligations; (2) training personnel responsible for compliance to ensure
comprehensive understanding of compliance requirements and the importance of timely submission of
information; and (3) annual review by the designated compliance officer of each continuing disclosure
undertaking to determine what financial information and operating data is required to be included in the
Annual Report to be filed on EMMA.
BOND RATING
Moody’s Investors Service, Inc. (“Moody’s”) has assigned the Bonds a rating of “Aa2” based on
Moody’s evaluation of the creditworthiness of the District. Such rating reflects only the view of Moody’s at
the time the rating is given, and the District and the Underwriter make no representation as to the
appropriateness of such rating. An explanation of the significance of the rating may be obtained only from
Moody’s. The District furnished Moody’s with certain information and materials relating to the Bonds and the
District that has not been included in this Official Statement. Generally, rating agencies base their ratings on
the information and materials so furnished and on investigations, studies and assumptions by the rating
agencies. There is no assurance that a particular rating will remain in effect for any given period of time or
that it will not be revised downward or withdrawn entirely if, in the judgment of the rating agency,
circumstances warrant.
The Underwriter has not undertaken any responsibility to bring to the attention of the holders of the
Bonds any proposed revision or withdrawal of any rating of the Bonds or to oppose any such proposed revision
or withdrawal. Pursuant to the Continuing Disclosure Undertaking, the District is required to bring to the
attention of the holders of the Bonds any rating changes but has not undertaken any responsibility to disclose
any rating revisions proposed by the Rating Agency or to oppose any such proposed revision or withdrawal of
the rating of the Bonds. See the caption “CONTINUING DISCLOSURE UNDERTAKING” herein. Any
downward revision or withdrawal of the rating may have an adverse effect on the market price and
marketability of the Bonds.
LITIGATION
There is no controversy, suit or other proceeding of any kind pending or, to the District’s knowledge,
threatened wherein or whereby any question is raised or may be raised, questioning, disputing or affecting in
-23-
any way the legal organization of the District or its boundaries, or the right or title of any of its officers to their
respective offices, or the legality of any official act in connection with the authorization, issuance and sale of
the Bonds, or the constitutionality or validity of the Bonds or any of the proceedings had in relation to the
authorization, issuance or sale thereof, or the levy and collection of a tax to pay the principal and interest
thereof, or which might affect the District’s ability to meet its obligations to pay the Bonds.
UNDERWRITING
Robert W. Baird & Co. Incorporated (the “Underwriter”) has agreed to purchase the Bonds at a price
of $5,051,534.50 (which is equal to the aggregate original principal amount of the Bonds, plus a net original
issue premium of $122,378.25, less an underwriting discount of $70,843.75). The Underwriter is purchasing
the Bonds for resale in the normal course of the Underwriter’s business activities. The Underwriter reserves
the right to offer any of the Bonds to one or more purchasers on such terms and conditions and at such price or
prices as the Underwriter, in its discretion, determines.
FINANCIAL ADVISOR
Rognan & Associates, St. Louis, Missouri (the “Financial Advisor”), is employed as financial
advisor to the District to render certain professional services, including advising the District on a plan of
financing relating to the Bonds. The Financial Advisor has not undertaken an independent investigation into
the accuracy of the information presented in this Official Statement.
CERTAIN RELATIONSHIPS
The District’s fire chief is the father of Dave Marlo, a captain in the District.
In addition to serving as financial advisor to the District in connection with the issuance of the Bonds,
Rognan & Associates provides certain accounting and financial consulting services to the District.
MISCELLANEOUS
The references, excerpts and summaries of all documents referred to herein do not purport to be
complete statements of the provisions of such documents, and reference is made to all such documents for full
and complete statements of all matters of fact relating to the Bonds, the security for the payment of the Bonds
and the rights of the Owners thereof. During the period of the offering, copies of drafts of such documents
may be examined at the office of the Underwriter; following delivery of the Bonds, copies of such documents
may be examined at the corporate trust office of the Paying Agent. The information contained in this Official
Statement has been compiled from official and other sources that are deemed to be reliable, and while not
guaranteed as to completeness or accuracy, is believed to be correct as of this date.
Any statement made in this Official Statement involving matters of opinion or of estimates, whether or
not expressly so stated, are set forth as such and not as representations of fact, and no representation is made
that any of the estimates will be realized. The information and expressions of opinion herein are subject to
change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall,
under any circumstances, create any implication that there has been no change in the information presented
herein since the date hereof. This Official Statement is not to be construed as a contract or agreement between
the District, the Paying Agent, or the Underwriter and the purchasers or Owners of any Bonds.
-24-
The District has duly authorized the delivery of this Official Statement.
WENTZVILLE FIRE PROTECTION DISTRICT
By: /s/ Jennifer Houston
Chairwoman of the Board of Directors
-25-
___________________________
THIS PAGE INTENTIONALLY
LEFT BLANK
___________________________
APPENDIX A
DISTRICT’S FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2013
___________________________
THIS PAGE INTENTIONALLY
LEFT BLANK
___________________________
APPENDIX B
DESCRIPTION OF ST. CHARLES COUNTY, MISSOURI
The Bonds shall not constitute a debt or liability of St. Charles County, Missouri (the “County”), nor
shall they constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or
restriction. This appendix is for informative purposes only and provides a summary of certain general
economic information concerning the County.
General
The County was organized in 1812 and contains approximately 561 square miles. The County is
located approximately 18 miles northwest of the City of St. Louis, Missouri, at the confluence of the Missouri
and the Mississippi Rivers.
The County has a diverse economic base that includes industrial, commercial and agricultural
enterprises. As of 2012, approximately 14% of the 192,884 employment positions in the County were in
manufacturing. The County is also a residential community with a majority of its residents commuting to their
places of employment outside the County.
Government
The governing body of the County is composed of a legislative body of seven council members and a
County Executive. One council member is elected from each of the seven districts of the County. A Council
Chair is elected by the County Council from amongst its members and serves a one-year term. The County
Executive is elected by the registered voters for a four-year term. The Charter provides that all executive
powers of the County are vested in the County Executive.
Other elected administrative officials of the County are: the County Collector, who is responsible for
tax billing and collection; the Sheriff, who is responsible for law enforcement throughout the County; the
Assessor, who is responsible for appraising and recording the value of real estate; the Recorder of Deeds, who
is responsible for maintaining the land and marriage records; the Prosecuting Attorney, who is responsible for
prosecuting crimes committed within the County; the Director of Elections, who is responsible for planning
and administration of elections within the County and the Circuit Clerk, who is the administrator for the
Circuit Court.
In addition to the elected officials, the County Executive appoints the following officials: a Director
of Administration, a County Counselor, a County Engineer, a Director of Corrections, a Medical Examiner, a
Director of Intergovernmental Affairs, a Director of Workforce Development, a Director of Policy
Development, a Director of Human Resources, a Director of Finance, a Director of Community Development,
a Director of Parks and Recreation, a Director of Community Health and the Environment, a Director of
Dispatch & Alarm, a Director of Transportation, a Director of Information Systems and a Director of Facilities
Maintenance and Public Administrator. In addition, the County Council appoints the Auditor. The County
Registrar, who is responsible for keeping records of the proceedings of the County, is appointed by the
Director of Finance.
B-1
Certain key elected and appointed officials of the County are set out below:
Name
Title
Term Expires
Steve Ehlmann
Joe Brazil
Joe Cronin
Mike Elam(1)
Dave Hammond
Terry Hollander
Mike Klinghammer
John White
County Executive
County Council Member
County Council Member
County Council Member
County Council Member
County Council Member
County Council Member
County Council Member
December 31, 2014
December 31, 2016
December 31, 2014
December 31, 2014
December 31, 2016
December 31, 2014
December 31, 2016
December 31, 2014
Joann Leykam
Robert Schnur, CPA
Harold Ellis
Brent Statler, CPA
Director of Administration
Director of Finance
County Counselor
Auditor
Appointed by County Executive
Appointed by County Executive
Appointed by County Executive
Appointed by County Council
____________
(1)
Nancy Matheny resigned from her elected position as County Council Member to District 3. Steve Ehlmann appointed
Mike Elam of Dardenne Prairie to fill the vacated position in April 2013.
Property Tax Procedures
The County levies taxes against real property and personal property. Personal property is currently
assessed at 33-1/3% of true value, residential property is currently assessed at 19% of true value and
agricultural property is assessed at 12% of true value. All other property is assessed at 32% of true value.
Real property and personal property within the County are assessed by the County Assessor. Real
property is assessed in accordance with guidelines prepared by the State Tax Commission. Personal property
is assessed according to book value.
The County Assessor is responsible for preparing the tax rolls each year and submitting the tax rolls to
the County Council. The Board of Equalization has the authority upon appeal to question and determine the
proper values of property and then adjust and equalize individual properties appearing on the tax rolls.
[Remainder of Page Intentionally Left Blank]
B-2
Assessed Valuation
The following table sets forth the assessed value and market value of real and personal property in the
County for the years 2004 through 2013:
Year
Assessed Value
Estimated Actual Value
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
$5,338,646,709
6,257,178,694
6,605,305,633
7,363,463,592
7,757,041,275
7,416,093,293
7,467,746,290
7,043,589,724
7,318,675,625
7,109,006,684
$23,814,923,640
28,074,329,506
29,503,356,419
33,353,698,625
34,810,725,671
33,180,728,982
33,430,048,856
31,795,071,874
32,688,979,593
31,608,336,630
__________
Source: St. Charles County Comprehensive Annual Financial Report Fiscal Year Ended December 31, 201 3;
County Registrar’s Office.
St.
Charles
Transportation
The County is traversed by eight major highways: Interstate 70, State Highway 370, Interstate 64,
U.S. Highway 67, U.S. Highway 61, State Highway 364 and State Routes 79 and 94. Interstate 70 provides
direct access to St. Louis, approximately 20 miles east of the County, and to Kansas City, approximately 235
miles west of the City of St. Charles. State Highway 370 was completed in 1996 and serves as an outerbelt
from Interstate 70 in St. Peters to Interstate 270 in St. Louis County.
Regularly scheduled air passenger and freight service is available at the Lambert St. Louis
International Airport located on Interstate 70. Two small airports are located in the County.
Rail service is provided by Norfolk Southern and Burlington Northern.
Several national motor carriers maintain terminals within the County. In addition, common motor
carriers serve the communities within the County.
The County is located at the junction of the Missouri and Mississippi Rivers, near the center of a
7,000-mile inland water-way system with numerous barge line companies serving industrial centers in
20 states.
[Remainder of Page Intentionally Left Blank]
B-3
Population Statistics for St. Charles County
The County has been the fastest growing county in the State of Missouri for two decades and is one of
the fastest growing areas in the nation. The County’s population increased by approximately 27% from 2000
to 2010. According to statistics of the Bureau of Census, the population increase over the same period was
approximately 10% for the United States and 7% for the State of Missouri. The following table sets forth
historical population statistics for the County:
Year
Population
1930
1940
1950
1960
1970
1980
1990
2000
2010
24,354
25,562
29,834
52,970
92,954
144,107
212,907
283,883
360,485
Percentage Change from
Previous Census
N/A
4.96%
16.71
77.55
75.48
55.03
46.63
33.33
26.98
Source: U.S. Department of Commerce, Bureau of Census, Statistics of Population and Census Bureau Estimates.
Income Statistics
The following table presents per capita income(1) for the County and the State of Missouri for the
years 2008 through 2012, the latest date for which such information is available:
Year
2008
2009
2010
2011
2012
St. Charles County
Per Capita Income
$39,995
39,126
39,617
41,374
42,845
State of Missouri
Per Capita Income
$37,383
36,323
36,605
37,988
39,133
(1)
“Per Capita Personal Income” is the annual total personal income of residents divided by the resident population as of
July 1. “Personal Income” is the sum of net earnings by place of residence, rental income of persons, personal dividend
income, personal interest income, and transfer payments. “Net Earnings” is earnings by place of work - the sum of
wage and salary disbursements (payrolls), other labor income, and proprietors’ income - less personal contributions for
social insurance, plus an adjustment to convert earnings by place of work to a place-of-residence basis. Personal
Income is measured before the deduction of personal income taxes and other personal taxes and is reported in current
dollars (no adjustment is made for price changes).
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Economic Growth
General. The County has traditionally had a strong agricultural base. The County has experienced
strong growth in its residential, industrial and commercial sectors during the past 20 years. A report prepared
for the East-West Gateway Coordinating Council states that manufacturers have moved to the County because
of its central location in the United States, the quality of its transportation network and its expanding resources
of labor and materials.
B-4
More than half of the firms now located in the County have expanded their physical plants during the
past 15 years. More than 25 industrial parks are located within the County. Many large acreage tracts suitable
for commercial or industrial usage are available throughout the County.
The St. Charles County Industrial Development Authority and the St. Charles County Economic
Development Center promote development in the County. These organizations consult with new industries
planning to move to the County. They help the new industries with planning, site location, plant construction,
financing and labor aspects of the relocation.
According to a study conducted by the Missouri Economic Research Center, the County has more
than twice as much economic influence as any other county in Missouri. The County’s three largest
communities, O’Fallon, St. Charles and St. Peters are home to global companies, nationally recognized
healthcare facilities and great growth potential.
Employment. The following table shows the Employment by Industry for the County for calendar
year 2012, the latest year available:
Employment by Place of Work for Major Industry
St. Charles County, Missouri
(Approximate Number of Jobs)
2012
Industry
Agriculture, forestry, fishing and hunting, and mining
Construction
Manufacturing
Wholesale trade
Retail Trade
Transportation and warehousing, and utilities
Information
Finance and insurance, and real estate and rental and leasing
Professional, scientific, management, and administrative and waste management
Educational services, and health care and social assistance
Arts, entertainment, and recreation, and accommodation, and food services
Other services, except public administration
Public administration
Total
_____________
Source: U.S. Census Bureau, 2012 American Community Survey 1-year Estimates.
[Remainder of Page Intentionally Left Blank]
B-5
1,334
12,921
26,577
6,646
24,342
8,593
3,615
18,543
18,022
41,806
16,137
8,721
5,627
192,884
Major Employers. Listed below are the largest public and private employers in the County:
Product or Service
Employer
Employment
CitiMortgage
Financial Services
4,900
Ft. Zumwalt School District
Public School
2,755
Francis Howell School District
Public School
2,375
General Motors Corporation
Automobile Manufacturer
2,131
MasterCard Worldwide
Financial Services
2,000
Wentzville School District
Public School
1,787
True Manufacturing
Manufacturer of Refrigeration Equipment
1,475
Verizon Communications
Telecommunications
1,400
CenturyLink
Telephone
1,200
Ameristar Casino
Casino
1,043
_____________
Source: St. Louis Regional Chamber as listed in the County’s Comprehensive Annual Financial Report fiscal
year ended December 31, 2013.
The following table sets forth the total labor force, number of employed and unemployed workers in
the County and, for comparative purposes, the unemployment rates for the County, the State and the United
States for 2009 through 2014:
The County Labor Force(1)
Year
Employed
2009
2010
2011
2012
2013
2014(2)
179,978
183,309
186,999
188,728
189,200
192,825
Unemployed
17,053
16,636
14,482
12,053
11,302
11,754
Unemployment Rates(1)
Total
197,031
199,945
201,481
200,781
200,502
204,579
The
County
8.7%
8.3
7.2
6.0
5.6
5.7
(1)
Figures are not seasonally adjusted.
Figures are for July 2014.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
(2)
[Remainder of Page Intentionally Left Blank]
B-6
State of
Missouri
9.4%
9.3
8.5
7.0
6.5
6.5
United
States
9.3%
9.6
8.9
8.1
7.4
6.5
Building and Construction Data
The St. Charles County Building Department issues permits for construction in the unincorporated
areas of the County. The following table sets forth the number and value of building permits issued by the
County for the years 1999 through 2013.
Year
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
(1)
New Residential Dwellings
Number
Value
654
504
521
494
544
651
526
350
251
123
134
148
86
156
229
$101,552,340
84,421,652
93,054,658
93,123,471
114,053,805
137,714,011
141,258,101
106,022,365
76,861,096
43,634,618
21,840,613
29,696,176
37,603,207
53,549,692
81,924,997
Commercial
Value
Total
Value(1)
$35,256,454
58,070,250
18,029,062
15,722,003
24,661,002
36,773,316
25,599,444
63,264,078
63,874,339
24,678,712
53,779,363
6,008,911
59,283,284
6,776,032
10,423,466
$136,808,794
142,491,902
111,083,720
108,845,474
138,714,807
174,487,327
166,857,545
169,286,443
140,735,435
68,313,330
75,619,976
35,705,087
96,886,491
60,325,724
92,348,463
Does not include permits issued for miscellaneous purposes. Neither the price of land nor any
contractors’ equity is reflected in the value.
Age Distribution
St. Charles County
2010 Population Age Distribution
Population
Age
0-4 years
5-19
20-24
25-44
45-64
65+
24,297
78,103
21,443
98,128
98,136
40,378
_____________
Source: U.S. Census Bureau, 2010 Census.
County Services
Education. Primary and secondary education are provided by six public school districts: Fort
Zumwalt R-II School District, Francis Howell R-III School District, Orchard Farm R-V School District,
Wentzville R-IV School District, St. Charles R-VI School District and Washington School District. All six
districts are accredited by the Missouri Department of Elementary and Secondary Education (“DESE”), the
highest accreditation status given by DESE. There are a number of private and parochial elementary schools
serving approximately 20% of the total K-8 school population. Lewis and Clark Career Center, a part of the
St. Charles R-VI School District, provides specialized vocational education for County students.
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Post-secondary education is provided by St. Charles Community College and Lindenwood University,
both located within the County, and by the numerous institutions of higher education located in the St. Louis
metropolitan area, including Saint Louis University, Washington University and the University of MissouriSt. Louis.
St. Charles Community College provides a combination of two-year vocational programs appropriate
to the needs of County business and industry, the first two years of basic college courses, and adult education
programs that allow County residents to improve job skills and programs to retrain displaced workers and
homemakers.
Lindenwood University is a private four-year, liberal arts institution offering 120 undergraduate and
graduate degree programs to approximately 17,000 students. Continuing adult education at Lindenwood
University includes not-for-credit courses, workshops and seminars.
Medical Services. There are six hospitals located in the County with over 800 beds. The largest
hospital is St. Joseph Health Center, a member of SSM Health Care System, with facilities in the cities of
St. Charles and Lake St. Louis. St. Joseph Health Center in St. Charles has approximately 433 beds. Hospital
facilities include a pathology laboratory, a blood bank, an intensive care/coronary care unit, an
emergency/trauma center and departments of electrocardiography, physical therapy, nuclear medicine,
radiology, psychiatry, obstetrics, and pediatrics. St. Joseph Health Center also offers community health
programs dealing with prenatal care, diabetes treatment, alcohol usage, drug abuse and mental health.
St. Joseph Hospital West, located in the City of Lake St. Louis, has 122 beds and offers primary and certain
secondary level services, including emergency, outpatient, medical, surgical, obstetric, pediatric, intensive care
services and cardiovascular services. In addition, the hospital offers 24-hour obstetric care with traditional
delivery rooms and birthing suites. In October 2008, St. Joseph Hospital West opened a comprehensive center
for the diagnosis and treatment of cancer. SSM St. Joseph Health Center in Wentzville has approximately 77
beds and offers emergency and ambulatory services, outpatient programs, behavioral health inpatient care and
an outpatient chemical dependency program.
Located in the City of St. Peters is Barnes-Jewish St. Peters’ Hospital, owned by Barnes-Jewish
Hospital, part of the highly acclaimed Washington University Medical Complex located in St. Louis. This 127bed acute care facility has a medical/surgical unit with three procedure rooms, a newly expanded emergency
facilities, cardiology center and woman’s center, an outpatient surgery and endoscopy center.
Located in the City of O’Fallon is Progress West Health Center, a member of BJC HealthCare.
Progress West Health Center opened in 2007 and has approximately 72 beds. Progress West Health Center
offers residents many medical services such as emergency care, cardiac imaging services, on-site laboratory
services, orthopedic care, a full range of surgical programs and a birthing center. Progress West Health Center
also offers specialized pediatric care through a partnership with St. Louis Children’s Hospital.
Centerpointe Hospital, a 104-bed facility located in the City of Weldon Spring, is owned and managed
by Little Hills Healthcare LLC. Centerpointe Hospital is a private psychiatric hospital serving the behavioral
needs of children, adolescents and adults. Centerpointe Hospital anticipates adding 100 more beds in the near
future.
Water Systems. Within the County, the following cities own and operate their own water systems:
St. Charles, O’Fallon, St. Peters and Wentzville. The City of O’Fallon only provides water to the residents in
the northern portion of its city. The southern portion of the City is serviced by the District. The water needs of
the majority of the remaining residents of the County are provided by Public Water Supply District No. 2 of St.
Charles County, Missouri. Missouri-American Water Company also serves customers in the County.
Utilities. Natural gas service is provided by Laclede Gas Company and AmerenUE. Electric service
is provided by AmerenUE and Cuivre River Electric Cooperative.
B-8
Communications and Media. Telecommunication services are provided to County residents by
AT&T, CenturyLink and Charter Communications. Wireless telephone service is offered by numerous
providers. In addition to County radio stations, residents of the County also receive St. Louis radio stations
and television channels. There are two major newspapers circulated in the County: the St. Charles Journal
and the St. Louis Post-Dispatch. In addition, there are many weekly newspapers and journals published
throughout the County.
The St. Charles City-County Library District has three regional branches which have 185,000-200,000
volumes and specialized collections, four general purpose branches which have 85,000-100,000 volumes
including general interest subjects and some reference materials, two express branches which have
18,000-25,000 volumes and collections with popular materials and three mini branches containing
18,000-25,000 volumes serving the smaller communities of Augusta, Portage des Sioux, New Melle and the
surrounding area. The St. Charles City-County Library District has reciprocal agreements with the St. Louis
City and St. Louis County Libraries.
Police and Fire Protection. Police protection is currently provided by the County’s sheriff
department, consisting of an elected sheriff, 155 commissioned employees and 71 civilian employees.
Effective January 1, 2015, the sheriff department staff will split in two; approximately 180 employees,
including approximately 150 commissioned officers, will be transferred to a new County police department.
The remaining employees will be responsible for court security, transporting prisoners and process serving.
The following cities have their own police department: Cottleville, Foristell, Lake St. Louis, New Melle,
O’Fallon, St. Charles, St. Peters and Wentzville. There are 10 fire protection districts and one municipal fire
department within the County, which operate independently of the County government. The City of St. Charles
Fire Department, Central County Fire and Rescue Protection District and the Cottleville Community Fire
Protection District are staffed with full-time career firefighters. The Lake St. Louis, O’Fallon and Wentzville
Fire Protection Districts employ a combination of career and volunteer firefighters to protect their citizens.
The Augusta, Old Monroe, Orchard Farm and Rivers Pointe Fire Protection Districts are staffed by volunteers.
St. Charles County Ambulance District provides 24-hour transfer service and emergency medical treatment
from 10 bases located throughout the County. Ambulance service in the City of St. Charles is provided by the
St. Charles Fire Department. The St. Charles County Ambulance District serves the rest of the County.
Recreational Facilities. Residents of the County enjoy life in a pleasant community with an excellent
park system, historical sights and recreational facilities. Within the County there are numerous public parks,
tennis courts, swimming pools and golf courses, including the Katy Trail State Park, a hiking and biking trail
along the route of the Missouri-Kansas-Texas Railroad, which ceased operation in 1986. Other attractions in
the County include the Family Arena, the August A. Busch Wildlife Preserve, consisting of approximately
7,000 acres of land near Weldon Spring with facilities for hunting, fishing and hiking, the historic districts in
the City of St. Charles with many historic buildings, antique shops and home-style restaurants, and Missouri’s
first state capitol.
Located in adjacent St. Louis County and the nearby City of St. Louis are many recreational and
cultural facilities available to residents of the County, including the St. Louis Arch, St. Louis Zoo, Missouri
Botanical Gardens, St. Louis Cardinals baseball, St. Louis Rams football, St. Louis Blues hockey and the St.
Louis Symphony.
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B-9
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