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Resolution reducing the authority of The Metropolitan Government of Nashville and Davidson County to issue general obligation bonds pursuant to certain initial resolutions previously adopted by the Metropolitan County Council.
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WHEREAS, the Metropolitan County Council has from time to time authorized the issuance of general obligation bonds to finance specified public works projects; and,
WHEREAS, in order to authorize such general obligation bonds the Metropolitan County Council adopted on June 9, 2009 Resolution RS2009-746, on September 21, 2010 Resolution RS2010-1363, on June 19, 2012 Resolution RS2012-276, and on June 11, 2013 Resolution RS2013-710 (collectively, the "Initial Resolutions"); and,
WHEREAS, pursuant to the Initial Resolutions the Metropolitan Government has authorized the issuance of general obligation bonds in an aggregate amount not to exceed $1,408,463,000 (the Authorized Amount"); and,
WHEREAS, certain projects identified in the Initial Resolutions were completed or are on target to be completed at a cost less than the Authorized Amount resulting in a savings of $5,259,838, as provided in Exhibit A attached hereto and incorporated herein; and,
WHEREAS, the Metropolitan County Council adopted Resolution RS2018-1453 on October 16, 2018 reducing the aggregate authorization of the Initial Resolutions, inter alia, by $2,084,874.21, from $1,408,463,000 to (the "Initial Reduction"); and,
WHEREAS, the Metropolitan County Council adopted Resolution RS2019-99 on November 19, 2019 further reducing the authorization of Resolution RS2013-710 by $1,000,000, from $299,720,156.47 to $298,720,156.47 and thereby reducing the aggregate authorization of the Initial Resolutions from $1,406,378,125.79 to $1,405,378,125.79 (the "2019 Reduction"); and,
WHEREAS, the Metropolitan Government desires to further reduce the authority to issue general obligation bonds under the Initial Resolutions by $5,259,838 from $1,405,378,125.79 to $1,400,118,287.79 (the "...
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