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File #: RS2021-963    Name:
Type: Resolution Status: Passed
File created: 5/21/2021 In control: Metropolitan Council
On agenda: 6/1/2021 Final action: 6/1/2021
Title: Resolution authorizing and providing for the issuance and sale of general obligation bond anticipation notes in an amount not to exceed $375,000,000 at any one time in the form of commercial paper of The Metropolitan Government of Nashville and Davidson County; authorizing and providing for one or more dealer agreements, issuing and paying agency agreements, and liquidity facility agreements; and providing for certain other matters related thereto.
Sponsors: Kyonzte Toombs
Attachments: 1. RS2021-963 Exhibit A-Form of Master Note, 2. RS2021-963 Exhibit B-Form of Initial Offering, 3. RS2021-963 Exhibit C-Form of Dealer Agreement, 4. RS2021-963 Exhibit D-Form of Issuing and Paying Agreement, 5. RS2021-963 Exhibit E-Form of Initial Facility
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Resolution authorizing and providing for the issuance and sale of general obligation bond anticipation notes in an amount not to exceed $375,000,000 at any one time in the form of commercial paper of The Metropolitan Government of Nashville and Davidson County; authorizing and providing for one or more dealer agreements, issuing and paying agency agreements, and liquidity facility agreements; and providing for certain other matters related thereto.
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WHEREAS, under the provisions of Title 9, Chapter 21, Tennessee Code Annotated (the "Act"), The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") is authorized to issue and sell from time to time its general obligation bonds, and in anticipation thereof to issue and sell from time to time general obligation bond anticipation notes, to finance the costs of "public works projects", as defined by Section 9-21-105 of the Act; and,
WHEREAS, in order to provide financing for such costs for which general obligation bonds and bond anticipation notes have been authorized by initial resolution of the Metropolitan County Council, the Metropolitan County Council deems it advisable and in the best interests of the Metropolitan Government to provide at this time for the issuance and sale from time to time of general obligation bond anticipation notes of the Metropolitan Government, in the form of commercial paper; and,
WHEREAS, the Metropolitan Government has previously authorized and issued its general obligation bond anticipation notes ("Prior Notes") pursuant to Resolution No. RS2017-687 adopted by the Metropolitan County Council on May 16, 2017, as amended; and
WHEREAS, the Metropolitan Government desires to refinance all Prior Notes outstanding under Resolution No. RS2017-687 by the issuance of notes authorized hereunder; and,
WHEREAS, the Metropolitan Government desires to authorize the execution and delivery of agreements in connection with the notes authorized hereunder.
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