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A resolution approving an intergovernmental project agreement between the Metropolitan Government of Nashville and Davidson County and the Convention Center Authority of the Metropolitan Government of Nashville and Davidson County relating to the financing and refinancing of the Music City Center.
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WHEREAS, pursuant to the Convention Center Authorities Act of 2009, codified as Chapter 89, Title 7 of the Tennessee Code Annotated, as amended, the Metropolitan Council created the Convention Center Authority for the purpose of exercising all powers granted to a convention center authority, including the financing, construction, renovation, equipping, expanding and operation of the convention center known as the "Music City Center" (the "Convention Center"); and
WHEREAS, pursuant to the terms of the agreement (the "Intergovernmental Agreement") attached to this Resolution as Exhibit 1, the Metropolitan Government and the Convention Center Authority propose to undertake certain duties and responsibilities relating to the refinancing of the Convention Center Authority's Series 2010 Bonds, the financing of an expansion to the Convention Center, the transfer of certain funds of the Convention Center Authority to the East Bank Development Authority, and certain other matters set forth therein; and
WHEREAS, approval of the Intergovernmental Agreement would benefit the citizens of Nashville and Davidson County.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The form, terms and provisions of the Intergovernmental Agreement between the Metropolitan Government and the Convention Center Authority attached hereto as Exhibit 1 (the "Intergovernmental Agreement") are hereby approved, and the Metropolitan Mayor, Metropolitan Clerk, and Director of Law of the Metropolitan Government are hereby authorized, empowered and directed to execute and deliver the Intergovernmental Agreement in the name and o...
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