title
Resolution authorizing the issuance, sale and payment of federally taxable general obligation refunding bonds in an approximate principal amount of $61,000,000; and providing for the levy of ad valorem taxes for the payment of debt service on the bonds
body
WHEREAS, the Metropolitan Government is authorized under the Act and the Charter (as such terms are hereafter defined) to issue its general obligation bonds for the purpose of refunding its outstanding general obligation bonds; and
WHEREAS, the Metropolitan Council hereby finds that it is in the best interest of the citizens of the Metropolitan Government to refund the Metropolitan Government's General Obligation Improvement Bonds, Series 2015C, dated July 30, 2015, maturing July 1, 2026, through July 1, 2028 (the "Series 2015C Bonds"); and
WHEREAS, the refunding of the Series 2015C Bonds is intended to provide the Metropolitan Government with greater flexibility regarding the use of the projects financed thereby and may also result in debt service savings to the Metropolitan Government; and
WHEREAS, the plan of refunding for the Series 2015C Bonds, as required by Section 9-21-903, Tennessee Code Annotated, as amended, has been submitted to the State Director of Local Government Finance (the "State Director"), and she has acknowledged receipt thereof and submitted her report thereon to the Metropolitan Government; and
WHEREAS, for the purpose of refunding the Series 2015C Bonds, the Metropolitan Council hereby finds it to be in the best interest of the citizens of the Metropolitan Government to issue its general obligation refunding bonds in one or more series upon the terms provided herein.
NOW THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY AS FOLLOWS:
ARTICLE I.
DEFINITIONS
Section 1.1. Definition of Terms. The following words and terms as used herein, whether or not the words have initial capitals, shall have the...
Click here for full text