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Resolution authorizing the execution, terms, issuance, sale and payment of general obligation refunding bonds in multiple series in an aggregate principal amount of not to exceed $825,000,000.
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WHEREAS, the Metropolitan Government is authorized under the Act and the Charter (as such terms are hereafter defined) to issue its general obligation refunding 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, for the purposes of achieving debt service savings, to refund all or a portion of its outstanding (i) General Obligation Refunding Bonds, Series 2016 (the "Series 2016 Bonds"), and (ii) General Obligation Improvement Bonds, Series 2017 (the "Series 2017 Bonds"), General Obligation Improvement Bonds, Series 2018 (the "Series 2018 Bonds), General Obligation Refunding Bonds, Series 2021B (Federally Taxable) (the "Series 2021B Bonds"), and General Obligation Improvement Bonds, Series 2021C (the "Series 2021C Bonds" and, together with the Series 2017 Bonds, Series 2018 Bonds, and Series 2021B Bonds, the "Tender Refunding Candidates" and, together with the Series 2016 Bonds, the "Outstanding Bonds") through a traditional refunding process, in the case of the Series 2016 Bonds, and through a bondholder invitation to tender process, in the case of the Tender Refunding Candidates; and
WHEREAS, the plan of refunding for the Outstanding Bonds, as required by Section 9-21-903, Tennessee Code Annotated, and a request for approval of financing, as required by Section 9-21-910, Tennessee Code Annotated, have been submitted to the Director of the Division of Local Government Finance for the State of Tennessee (the "State Director"), and she has acknowledged receipt thereof and submitted her report thereon and approval thereof to the Metropolitan Government;
NOW THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY ...
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