2007-0149
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO.
Title
A resolution providing for the review of the bids received for the purchase of Nine Hundred Twenty Thousand Dollars ($920,000) of Sales Tax Revenue Bonds, Series 2007 of the Parish of St. Charles, State of Louisiana, approving the Official Notice of Bond Sale and Official Statement in connection therewith, and authorizing the Chairman and Director of Finance to sign copies thereof as evidence of the approval thereof and providing for other matters in connection therewith.
Body
BE IT RESOLVED by the St. Charles Parish Council, acting as the governing authority of the Parish of St. Charles, State of Louisiana (the AParish@):
SECTION 1. This Parish Council (the "Governing Authority") does now proceed in open and public session to announce and review the bids received for the purchase of Nine Hundred Twenty Thousand Dollars ($920,000) of Sales Tax Revenue Bonds, Series 2007, of the Parish of St. Charles, State of Louisiana, authorized and duly advertised for sale by virtue of a resolution adopted on March 19, 2007.
SECTION 2. The official Notice of Bond Sale and Official Statement prepared in connection with the sale of the aforementioned Bonds, and the information contained therein, are hereby approved by this Governing Authority and the Chairman and Director of Finance are hereby authorized, empowered and directed to sign copies thereof as evidence of the approval of the Parish.
Vote
This resolution having been submitted to a vote, the vote thereon was as follows:
And the resolution was declared adopted on this, the 7th day of May, 2007.
CHAIRMAN: ___________________________________
SECRETARY: __________________________________
DLVD/PARISH PRESIDENT: _____________________
APPROVED: _______________ DISAPPROVED: _____
PARISH PRESIDENT: ____________________________
RETD/SECRETARY: _____________________________
AT: ____________ RECD BY: ______________________
The bids received on May 7, 2007 for the purchase of Nine Hundred Twenty Thousand Dollars ($920,000) of Sales Tax Revenue Bonds, Series 2007 of the Parish of St. Charles, State of Louisiana, were thereupon reviewed and read in public session of the Governing Authority, said bids being based upon the maturity schedule set out in the Official Statement and hereinafter set out in these proceedings, said bids being as follows, to-wit:
1. A bid for the Bonds submitted by Hattier, Sanford & Reynoir, L.L.P., of New Orleans, Louisiana, bearing interest as follows:
Bonds Maturing Interest Rate Per Annum
August 1, 2008 to 2010, inc. 6.450%
August 1, 2011 6.100%
August 1, 2012 to 2015, inc. 5.500%
August 1, 2016 5.300%
August 1, 2017 4.450%
August 1, 2018 4.500%
August 1, 2019 4.550%
August 1, 2020 4.600%
August 1, 2021 4.650%
August 1, 2022 4.700%
August 1, 2023 4.750%
August 1, 2024 4.800%
August 1, 2025 4.850%
August 1, 2026 to 2031, inc. 5.100%
Premium: $0
True Interest Cost: 5.000049%
2. A bid for the Bonds submitted by Morgan Keegan & Company, Inc., of New Orleans, Louisiana, bearing interest as follows:
Bonds Maturing Interest Rate Per Annum
August 1, 2008 to 2011, inc. 6.500%
August 1, 2012 6.250%
August 1, 2013 and 2014 6.000%
August 1, 2015 and 2016 5.750%
August 1, 2017 to 2031, inc. 5.000%
Premium: $0
True Interest Cost: 5.123042%
PROCEEDINGS OF THE ST. CHARLES PARISH COUNCIL, TAKEN AT A REGULAR MEETING HELD ON MONDAY, MAY 7, 2007.
The St. Charles Parish Council, met in regular session at its regular meeting place, 15045 Highway 18, 2nd Floor, Hahnville, Louisiana, on Monday, May 7, 2007, at six (6:00) o=clock p.m., Louisiana Time (Central Time).
There were present:
There was absent:
The St. Charles Parish Council, was duly convened as the governing authority of the Parish of St. Charles, State of Louisiana, by April Black, Chairman, who announced the purposes of the meeting in accordance with the aforesaid written notice and then stated that the Parish Council was ready for the transaction of business.
The time having arrived for the sale of $920,000 of Sales Tax Revenue Bonds, Series 2007 (the ABonds@) of the Parish of St. Charles, State of Louisiana (the AIssuer@), scheduled for six (6:00) o=clock p.m., prior to the opening of bids, the announced that it was time to review the bids received for the purchase of the captioned Bonds, said Bonds having been advertised for sale by virtue of a resolution adopted on March 19, 2007. It was then stated that the Notice of Bond Sale which had been issued on March 19, 2007, calling for bids for the purchase of the Bonds had been published in "The Daily Journal of Commerce", Metairie, Louisiana in its issue of April 25, 2007 and in the "St. Charles Herald", Boutte, Louisiana in its issues of April 18 and April 25, 2007.
After calling for bids for the purchase of the Bonds, it was announced that two (2) bids had been received for the purchase of the Bonds.