title
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.
body
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. RS2009-746, RS2010-1363, RS2012-276, RS2013-710, RS2016-245, RS2023-1978, RS2024-194, and RS2024-882, and also adopted Substitute Resolutions RS2021-757 and RS2021-1201 (collectively, the “Initial Resolutions”) to determine to issue general obligations bonds in an aggregate amount not to exceed $4,449,207,500 (the “Authorized Amount”); and,
WHEREAS, the Metropolitan County Council previously adopted Resolutions Nos. RS2018-1453, RS2019-99, RS2021-758, RS2023-1979, RS2024-195, and RS2025-1661 that reduced the Authorized Amount by $13,278,966.71, to an authorized amount of $4,435,928,533.29, in the aggregate; and,
WHEREAS, certain public works projects identified in the Initial Resolutions were completed or are on target to be completed at a cost less than the current authorized amount for such projects, resulting in savings of $14,329,814.59, 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 $14,329,814.59 (the “New Reduction”), reflecting a change in the Authorized Amount to $4,421,598,718.70.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the authorization to issue additional general obligation bonds pursuant to the Initial Resolutions is hereby reduced generally as follows and as more particularly described in the a...
Click here for full text