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File #: RS2021-904    Name:
Type: Resolution Status: Passed
File created: 4/23/2021 In control: Metropolitan Council
On agenda: 5/4/2021 Final action: 5/4/2021
Title: A resolution approving the issuance of Federally Taxable Public Facility Revenue Refunding Bonds (Ballpark Project), Series 2021C by The Sports Authority of The Metropolitan Government of Nashville and Davidson County, authorizing the Metropolitan Government's execution and delivery of a Supplemental Trust Indenture relating thereto; authorizing the pledge of certain of the Metropolitan Government's revenues as security for the bonds; and authorizing an official statement to be distributed in connection with the sale of the bonds.
Sponsors: Kyonzte Toombs
Attachments: 1. RS2021-904, 2. RS2021-904 Ballpark 2021 Purchase Agreement, 3. RS2021-904 Ballpark Refunding Bonds 2021C, 4. RS2021-904 Ballpark 2021 Refunding Escrow Agreement, 5. RS2021-904 Ballpark Supplemental Indenture
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A resolution approving the issuance of Federally Taxable Public Facility Revenue Refunding Bonds (Ballpark Project), Series 2021C by The Sports Authority of The Metropolitan Government of Nashville and Davidson County, authorizing the Metropolitan Government's execution and delivery of a Supplemental Trust Indenture relating thereto; authorizing the pledge of certain of the Metropolitan Government's revenues as security for the bonds; and authorizing an official statement to be distributed in connection with the sale of the bonds.

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WHEREAS, The Sports Authority of The Metropolitan Government of Nashville and Davidson County (the "Authority") has been formed pursuant to Title 7, Chapter 67, Tennessee Code Annotated (the "Act"), by The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") for the purposes set forth in the Act; and

WHEREAS, the Authority is authorized by the Act and deems it necessary and desirable to issue its revenue bonds to (i) refund all or a portion of the Authority's outstanding Public Improvement Revenue Bonds (Ballpark Project), Series 2013A (the "Series 2013A Bonds") and Public Improvement Revenue Bonds (Ballpark Project), Series 2013B (Federally Taxable) (the "Series 2013B Bonds" and, together with the Series 2013A Bonds, the "Outstanding Bonds"), each dated December 19, 2013, the proceeds of which were used to finance the construction of a minor league baseball ballpark currently known as First Horizon Ballpark, and (ii) pay costs incident to the issuance and sale of the bonds; and

WHEREAS, the Authority has heretofore entered into a Trust Indenture, dated as of December 19, 2013 (the "Indenture"), by and among the Authority, the Metropolitan Government and Regions Bank (the "Trustee"); and

WHEREAS, the Board of Directors of the Authority (the "Board") has determined it is in the best interest of the Authority to issue its Federally Taxable Public Facility Revenue Refunding Bonds (Ballpar...

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