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Resolution RS2020-212

Resolution reducing the authority of The Metropolitan Government of Nashville and Davidson County (Tennessee) to issue general obligation bonds pursuant to certain initial resolutions previously adopted by the Metropolitan County Council.

WHEREAS, the Metropolitan County Council has from time to time authorized the issuance of general obligations bonds to finance specified public works projects; and,

WHEREAS, the Metropolitan County Council authorized general obligation bonds to be issued in an aggregate amount of $3,462,378,295.00 pursuant to the adoption of Resolutions No. RS2009-746; RS2010-1120; RS2010-1139; RS2010-1363; RS2012-276; RS2012-316; RS2013-559; RS2013-710, RS2014-963, RS2014- 1126, RS2015-1500, RS2016-245, RS2017-713, RS2017-963, RS2018-1328, RS2018-1454 and RS2019-100 (collectively, the “Premium Initial Resolutions”) and RS2018-1453 and RS2019-99 (collectively, the “Prior Deauthorization Resolutions”); and,

WHEREAS, the Bond Resolution RS2018-1391 authorized general obligation bonds, Series 2018, to be sold, (the “Series Bonds”); and,

WHEREAS, the Series Bonds were sold at a $60,815,772.00 premium, in the aggregate; and,

WHEREAS, the Metropolitan Government desires to recognize the premium from the sale of the Series Bonds by reducing the authorized aggregate par amount under the Premium Initial Resolutions from $3,462,378,295.00 to $3,401,562,523.00.

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

Section 1. The authority to issue general obligation bonds pursuant to the Premium Initial Resolutions and Prior Deauthorization Resolutions in the aggregate is reduced from $3,462,378,295.00 to $3,401,562,523.00.

Section 2. This Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsor(s)

Bob Mendes, Ginny Welsch, Zulfat Suara

Legislative History

Referred toBudget and Finance Committee

IntroducedMarch 5, 2020

Deferred to March 17, 2020March 5, 2020

AdoptedMarch 17, 2020

ApprovedMarch 18, 2020

ByMayor Cooper's signature

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

Last Modified: 03/24/2020 1:20 PM