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Resolution supplementing Substitute Resolution No. RS2010-1442 to authorize the execution, terms, issuance, sale and payment of water and sewer revenue refunding and improvement bonds in an aggregate principal amount of not to exceed $700,000,000.
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WHEREAS, pursuant to the Act and the Charter (as such terms are hereafter defined), the Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") owns and operates a water and sewer system (the "System"); and
WHEREAS, the Metropolitan Government is authorized under the Act and the Charter to issue its water and sewer revenue bonds for the purposes of (i) retiring its outstanding water and sewer bond anticipation notes, (ii) funding capital improvements to the System; and (iii) refunding previously-issued water and sewer revenue bonds; and
WHEREAS, the Metropolitan County Council (the "Metropolitan Council") on November 16, 2010, adopted Substitute Resolution No. RS2010-1442 (as subsequently supplemented and amended, the "Water and Sewer Bond Resolution"), authorizing the issuance from time to time of water and sewer revenue bonds upon the adoption by the Metropolitan Council of a supplemental resolution, providing for the terms of such water and sewer revenue bonds; and
WHEREAS, the Metropolitan Council on November 16, 2010, adopted Substitute Resolution No. RS2010-1443 (the "First Supplemental Resolution"), authorizing the issuance of water and sewer revenue bonds in multiple series; and
WHEREAS, pursuant to the First Supplemental Resolution, the Metropolitan Government issued its Water and Sewer Revenue Refunding Bonds, Series 2010A, Water and Sewer Revenue Bonds Federally Taxable, Series 2010B (Build America Bonds - Direct Payment), Water and Sewer Revenue Bonds Federally Taxable, Series 2010C (Recovery Zone Economic Development Bonds) and Water and Sewer Revenue Refunding Bonds Federally Taxable, Series 2010D (collectively, the "Series 2010 Bonds"); and
WHEREAS, the W...
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