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A resolution affirming the determinations 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 and consenting to reallocations for specific public works projects.
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WHEREAS, the Metropolitan County Council has from time to time previously authorized the issuance of general obligation bonds to finance specific public works projects; and,
WHEREAS, pursuant to Tennessee Code Annotated Sections 9-21-101, et seq., (the "LGPOA"), and in order to authorize the issuance of general obligation bonds, the Metropolitan County Council adopted Resolution No. RS2017-713 on June 13, 2017, and Resolution No. RS2017-963 on November 21, 2017, (collectively, the "Initial Resolutions"); and,
WHEREAS, pursuant to Resolution No. RS2017-713, the Metropolitan County Council had determined to issue general obligation bonds in an aggregate principal amount of not to exceed $288,000,000.00, such authorized amount reduced to $287,999,735.00 pursuant to Resolution No. RS2024-195; and,
WHEREAS, pursuant to Resolution No. RS2017-963, the Metropolitan County Council had determined to issue general obligation bonds in an aggregate principal amount of not to exceed $133,215,000.00, such authorized amount reduced to $133,209,671.14 pursuant to Resolution No. RS2024-195; and,
WHEREAS, the Initial Resolutions each had exhibits that specified allocations for public works projects including the amounts of $9,000,000 and $2,300,000, respectively, to be allocated for Nashville School of the Arts land acquisition; and,
WHEREAS, over time, the priorities of the Metropolitan Government have shifted and now the Metropolitan Government desires to reallocate the amounts that were for costs associated with Nashville School of the Arts land acquisition to costs for consulting, design, planning, and construction for the school; and,
WHEREAS, it is the intent of...
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