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File #: RS2022-1556    Name:
Type: Resolution Status: Passed
File created: 5/27/2022 In control: Budget and Finance Committee
On agenda: 6/21/2022 Final action: 6/21/2022
Title: Resolution authorizing the issuance, sale, delivery and payment of one or more series of general obligation improvement bonds in an aggregate principal amount of not to exceed $650,000,000; and providing for the levy of ad valorem taxes for the payment of debt service on the bonds.
Sponsors: Burkley Allen
Attachments: 1. Exhibit
title
Resolution authorizing the issuance, sale, delivery and payment of one or more series of general obligation improvement bonds in an aggregate principal amount of not to exceed $650,000,000; and providing for the levy of ad valorem taxes for the payment of debt service on the bonds.
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WHEREAS, the Metropolitan Government is authorized under the Act and the Charter (as such terms are hereafter defined) to issue its general obligation bonds for the purposes of providing long-term financing for public works projects within the Metropolitan Government and retiring its outstanding general obligation commercial paper bond anticipation notes issued to finance such public works projects; and
WHEREAS, the Metropolitan Council hereby finds that it is in the best interest of the citizens of the Metropolitan Government to (a) finance the costs of a portion of the public works projects authorized by initial Resolutions No. RS2009-746; RS2010-1363; RS2012-276; RS2013-559; RS2013-710, RS2014-1126, RS2015-1500, RS2016-245, RS2017-713, RS2017-963, RS2018-1328, RS2018-1454, RS2019-100, RS2020-213, RS2021-757, RS2021-1201 and RS2022-1452 and any other initial resolutions hereafter adopted by the Metropolitan Council and published without protest as required by Title 9, Chapter 21, Tennessee Code Annotated (collectively, the "Initial Resolutions"); and (b) retire a portion of its outstanding general obligation commercial paper bond anticipation notes (the "Commercial Paper") which were issued to pursuant to the Initial Resolutions and commercial paper authorizing resolutions, namely Resolutions No. RS2021-963 and RS2014-1066, each as supplemented and amended, to finance the costs of a portion of the public works projects authorized by Initial Resolutions; and
WHEREAS, for such purposes, the Metropolitan Council hereby finds it to be in the best interest of the citizens of the Metropolitan Government to issue its general obligation improvement bonds.
NOW THEREFORE, BE IT RE...

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