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Initial resolution authorizing and providing for the issuance and sale of water and sewer revenue bonds in an aggregate principal amount of not to exceed Five Hundred Million Dollars of The Metropolitan Government of Nashville and Davidson County.
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WHEREAS, under the provisions of Title 9, Chapter 21, Tennessee Code Annotated, The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") is authorized to issue and sell from time to time its water and sewer revenue bonds for the purpose of financing capital improvements to the Metropolitan Government's water and sewer systems (collectively, the "System"); and
Whereas, pursuant to Section 9-21-304, Tennessee Code Annotated, prior to the issuance of any water and sewer revenue bonds, the governing body of the local government proposing to issue said bonds shall adopt an initial resolution determining to issue the same; and
Whereas, for the purpose of complying with the requirements of said statute, the Metropolitan County Council of the Metropolitan Government adopts this Resolution.
Now, therefore be it resolved by the Metropolitan County Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. Purpose. For the purpose of financing, in whole or in part, public works projects within the System, which shall include the (i) construction of extensions and improvements to the System; (ii) acquisition of all property, real and personal, appurtenant thereto or connected therewith; (iii) payment or reimbursement of the payment of principal of and interest on any bonds, notes or other debt obligations issued in anticipation of the Bonds and (iv) any other related costs permitted to be financed by Section 9-21-109, Tennessee Code Annotated, there are hereby authorized to be issued water and sewer revenue bonds (the "Bonds"), in one or more emissions, of the Metropolitan Government in the aggregate principal amount of not to exceed $500,000,000.
Section 2....
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