Program

The Water Division and St. Louis Lambert International Airport are two of the City’s enterprise funds. An Enterprise Fund accounts for funds operated similar to private business type activities where the intent of the governing body is that the cost of providing goods or services to the public on a continuing basis be financed or recovered primarily through user charges.

The Water Division receives its income from the sale of water to residents of the City and recently from the sale of water to other municipalities in the metropolitan area.

St. Louis Lambert International Airport is the City’s second largest cost center and is supported entirely by user fees paid by airlines and concessionaires, along with federal funds. Approximately 42 percent of the airport’s budget is devoted to debt service payments on revenue bonds for Airport expansion and to facilitate repair and maintenance of the runways and terminals.

St. Louis Lambert International Airport Revenue Bonds
The Airport Revenue Bonds are limited obligations of the City payable solely from the revenues derived from the operation of the Airport and certain other funds pledged under the Indenture, including the Debt Service Stabilization Fund and the Debt Service Reserve Fund.

Water Division Revenue Bonds
The Water Revenue Bonds are limited obligations of the City of St. Louis payable solely from and secured by a pledge of Net Revenues derived from the operation of its Waterworks System.