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Resolution RS2018-1253

A resolution amending Resolution RS2015-1417 to extend the duration of the water and sewer extendable commercial paper program of The Metropolitan Government of Nashville and Davidson County.

WHEREAS, pursuant to the provisions of Title 9, Chapter 21, Tennessee Code Annotated (the “Act”), and Metropolitan County Council Resolution No. RS2015-1417 (the “Extendable CP 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 extendable commercial paper notes, provided that such notes finally mature no later than December 31, 2020; and,

WHEREAS, the Metropolitan Government desires to amend the Extendable CP Resolution to extend to July 10, 2021 the final maturity for such notes; and,

WHEREAS, the Extendable CP Resolution may be amended, pursuant to Section 6.01 thereof, by extending the final maturity of the commercial paper notes insofar as such amendment does not affect the holders of any outstanding commercial paper notes, all of which mature prior to the current final maturity date.

NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

1. Final Maturity Date. The definition of Final Maturity date is hereby changed from December 31, 2020 to July 10, 2021.

2. Effective Date. This Resolution shall take effect on July 10, 2018.

3. Authorization of Additional Actions. That the officers of the Metropolitan Government are hereby authorized to take such actions, and execute and deliver such agreements and certificates, as may be necessary to effectuate the amendment of the Extendable CP Resolution and the ECP Program described in Sections 1 and 2 above, including without limitation, (a) amending and restating the Dealer Agreement and the Issuing and Paying Agency Agreement and (b) supplementing the offering memorandum distributed in connection with the ECP Program.

4. Defined Terms. Capitalized terms not otherwise defined herein shall have the meanings ascribed by the Extendable CP Resolution.

Sponsor(s)

Tanaka Vercher

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Legislative History

Referred toBudget and Finance Committee - Approved

IntroducedJune 19, 2018

DeferredJune 19, 2018

AdoptedJuly 3, 2018

ApprovedJuly 5, 2018

ByMayor Briley's signature

Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615-862-6770.

Last Modified: 07/10/2018 3:17 PM