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An initial resolution determining to issue general obligation bonds of The Metropolitan Government of Nashville and Davidson County in an aggregate principal amount not to exceed $46,000,000.
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WHEREAS, it is necessary and in the public interest of The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") to issue general obligation bonds in an aggregate principal amount not to exceed $46,000,000 (the "Bonds") for the purposes hereinafter provided; and
WHEREAS, pursuant to Section 9-21-205, Tennessee Code Annotated, prior to the issuance of any general obligation bonds, the governing body of the local government proposing to issue said bonds shall adopt a resolution determining to issue the same; and
WHEREAS, the Metropolitan Council finds that the project described herein is well conceived, has a reasonable prospect for success, will provide proper economic development and employment, and will not likely become a burden on the taxpayers of Davidson County; 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 purposes of (a) financing the acquisition of lands and rights, easements and franchises relating thereto, and including roads and streets, water, sewer, electric and other utilities, landscaping and related elements as required for the orderly development and use of corporate or professional office space by one or more commercial, financial or service businesses, and such appurtenant land for necessary incidental use (collectively, the "Project"), such Project being more specifically described in Exhibit A and Exhibit B attached hereto; provided, however, that the specific portion of total funding allocated to the Project may hereafter be amende...
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