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A resolution reducing the authority of The Metropolitan Government of Nashville and Davidson County to issue general obligations 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 obligations bonds to finance certain public works projects; and,
WHEREAS, the Metropolitan County Council previously adopted Resolutions Nos. RS2016-245 on June 21, 2016, RS2017-713 on June 13, 2017, RS2021-757 on March 2, 2021, RS2024-194 on February 20, 2024, and RS2024-882 on December 17, 2024, and also adopted Substitute Resolutions RS2018-1328 on September 4, 2018, RS2020-213 on March 17, 2020, and RS2021-1201 on December 7, 2021, (collectively, the "Initial Resolutions"), to determine to issue general obligations bonds for certain public works projects in an aggregate amount not to exceed $3,080,982,500 (the "Authorized Amount"); and,
WHEREAS, the Metropolitan County Council previously adopted Resolution No. RS2024-195 on February 6, 2024, that reduced the Authorized Amount, in the aggregate, for the herein referenced Initial Resolutions from $3,080,982,500 to $3,066,936,699.45; 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 $5,501,882.97, as provided for in Exhibit A attached hereto and incorporated herein; and,
WHEREAS, accordingly, the Metropolitan County Council desires to reduce the authority to issue general obligation bonds under the Initial Resolutions by an additional $5,501,882.97 (the "New Reduction"), reflecting a change in the Authorized Amount to $3,061,434,816.48.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the authorization to issue additional general obligation b...
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