Rams money hits St. Louis, St. Louis County bank accounts

ST. LOUIS — More than $500 million from the NFL Rams settlement hit local government bank accounts Thursday, officially ending a yearlong discussion over how to divvy up the windfall and teeing up the public debate over how to spend it.

The three-month U.S. Treasury bills the parties to the Rams relocation lawsuit agreed to purchase in October matured Thursday, earning some $5 million more to bring the total split between the three entities up to $520 million.

And all three — St. Louis, St. Louis County and the Regional Convention and Sports Complex Authority that owns The Dome at America’s Center — had plans in place Thursday to invest the money and continue earning interest on their share of the settlement.

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Under the November agreement splitting the settlement, St. Louis gets $280.5 million, with $30 million of the city’s share earmarked for the over-budget downtown convention center expansion. The city plans to park the money in the Missouri Securities and Investment Program, an entity used by the state’s school districts and local governments to invest government funds. The current annualized yield paid by the program’s liquid investment option, which can be withdrawn any time, is 4.34%.

“Developing a community-driven plan to use Rams settlement funds will take time, but our investment will accrue interest and grow as we work together to do so,” St. Louis Mayor Tishaura O. Jones said in a statement. “I look forward to working with the Board of Aldermen to use these funds to make transformative change in our city for generations to come.”

St. Louis County received $169.3 million from the settlement. The county is investing its money in U.S. Treasury bonds and other…

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