Share to Facebook Share to Twitter Bookmark and Share
File #: RS2021-717    Name:
Type: Resolution Status: Passed
File created: 1/8/2021 In control: Metropolitan Council
On agenda: 1/19/2021 Final action: 1/19/2021
Title: A Twenty-Ninth Supplemental Electric System Revenue Bond Resolution supplementing certain resolutions of The Metropolitan Government of Nashville and Davidson County by authorizing the issuance of Electric System Revenue Bonds, 2021 Series A, as requested by the Electric Power Board of The Metropolitan Government of Nashville and Davidson County.
Sponsors: Kyonzte Toombs
Attachments: 1. RS2021-717, 2. RS2021-717 Exhibit B, 3. RS2021-717 Exhibit C
title
A Twenty-Ninth Supplemental Electric System Revenue Bond Resolution supplementing certain resolutions of The Metropolitan Government of Nashville and Davidson County by authorizing the issuance of Electric System Revenue Bonds, 2021 Series A, as requested by the Electric Power Board of The Metropolitan Government of Nashville and Davidson County.
body
WHEREAS, under authority conferred by Appendix III of the Charter of The Metropolitan Government of Nashville and Davidson County and the laws of the State of Tennessee, the Metropolitan Council adopted Substitute Resolution No. R85-746 on November 5, 1985; and
WHEREAS, the Electric Power Board of The Metropolitan Government of Nashville and Davidson County (i) has determined by resolution duly adopted at its meeting of December 16, 2020 that it is in the best interest of the electric system under its control to issue revenue bonds in an amount not to exceed $195,000,000, such bonds to be designated as the Electric System Revenue Bonds, 2021 Series A, the proceeds thereof to be used (A) for payment of certain improvements to such electric system, (B) for payment of interest on such 2021 Series A Bonds during the construction period for such improvements and six (6) months thereafter, in such amount, if any, as determined by the Electric Power Board of The Metropolitan Government of Nashville and Davidson County, (C) for making the deposit, if required, into the Debt Service Reserve Account established pursuant to, and in accordance with the provisions of, such Substitute Resolution No. R85-746, as heretofore supplemented and amended, and (D) for payment of the administrative, legal, financing and other expenses incurred in connection with the issuance of such 2021 Series A Bonds, in such amount, if any, as determined by the Electric Power Board of The Metropolitan Government of Nashville and Davidson County; and (ii) requests the Metropolitan Council to authorize the issuance of such bonds pursuant to such Su...

Click here for full text