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Resolution amending Resolution No. RS2015-1417, as supplemented and amended, to increase the size of the water and sewer revenue extendable commercial paper program of The Metropolitan Government of Nashville and Davidson County from a maximum aggregate principal amount not to exceed $100 million to a maximum aggregate principal amount not to exceed $200 million.
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WHEREAS, pursuant to the provisions of Title 9, Chapter 21, Tennessee Code Annotated (the "Act"), and Metropolitan County Council Resolution No. RS2015-1417, as supplemented and amended (the "Extendable Resolution"), The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") has heretofore authorized the issuance of up to $100 million at any time of water and sewer revenue extendable commercial paper notes;
WHEREAS, the Metropolitan Government desires to amend the Extendable Resolution to increase to $200 million the maximum aggregate principal amount of water and sewer revenue extendable commercial paper notes that may be issued thereunder;
WHEREAS, the Extendable Resolution may be amended, pursuant to Section 6.01 thereof, to increase the maximum aggregate principal amount of water and sewer revenue extendable commercial paper notes issued thereunder, upon receipt of written evidence from the rating agencies providing a credit rating therefor that such increase will not, by itself, result in a reduction, withdrawal or suspension of such rating agency's prevailing rating on the notes; and
NOW, THEREFORE, BE IT RESOLVED by the Metropolitan County Council of The Metropolitan Government of Nashville and Davidson County, as follows:
1. Increase in Maximum Aggregate Principal Amount. The Extendable Resolution is hereby amended to increase the maximum aggregate principal amount of ECP Notes that may be Outstanding at any time from $100 million to $200 million, and all references in the Extendable Resolution to $100 million shall be replaced with references ...
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