2004-0149
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(BOND COUNCIL)
RESOLUTION NO.
Title
A resolution making application to the State Bond Commission for consent and authority to issue, sell and deliver not exceeding $7,800,000 of Public Improvement Refunding Bonds, Series ST-2004, of the Parish of St. Charles, State of Louisiana, all in the manner provided for by Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority supplemental thereto and providing for other matters in connection therewith.
Body
NOW, THEREFORE, BE IT RESOLVED, by the St. Charles Parish Council (the "Council"), acting as the governing authority of the Parish of St. Charles, State of Louisiana, that:
SECTION 1. Application be and the same is hereby formally made to the State Bond Commission for consent and authority for the Parish of St. Charles, State of Louisiana (the "Issuer"), to issue, sell and deliver not exceeding $7,800,000 of Public Improvement Refunding Bonds, Series ST-2004 of the Issuer (the "Bonds"), to bear interest at a rate or rates not exceeding four and one-half percent (4-1/2%) per annum, to mature no later than December 1, 2010, to be sold at par or a discount not exceeding 4% thereof, all in the manner provided for by Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority supplemental thereto, for the purpose of refunding the Issuer's outstanding Public Improvement Bonds, Series ST-1996 (the "Refunded Bonds") and paying the costs of issuance of the Bonds, which Bonds shall be secured by and payable solely from an irrevocable pledge and dedications of the avails or proceeds of the special one percent (1%) sales and use tax now being levied and collected by the Issuer as authorized at an election held on July 16, 1988.
SECTION 2. A certified copy of this resolution shall be forwarded to said State Bond Commission by the Issuer's bond counsel, together with a letter requesting the prompt consideration and approval of this application.
SECTION 3. This Council finds and determines that a real necessity exists for the employment of special Bond Counsel in connection with the issuance of the Bonds, and accordingly, Foley & Judell, L.L.P. is hereby appointed as Bond Counsel to the Issuer, and requested to do and perform comprehensive legal and coordinate professional work as Bond Counsel with respect to the issuance and sale of the Bonds. The fee of Bond Counsel in connection with the issuance of the Bonds shall be fixed by subsequent ordinance.
SECTION 4. The Bond Counsel is hereby authorized and directed to prosecute the refunding and the Bond Counsel is authorized and directed to prepare necessary documents appertaining thereto and to present them for further action by this Council.
Vote
This resolution having been submitted to a vote, the vote thereon was as follows:
And the resolution was declared adopted this day of , 2004, to become effective five (5) days after publication in the Official Journal.
Adminstrative-Replay
CHAIRMAN:______________________________________________
SECRETARY:_____________________________________________
DLVD/PARISH PRESIDENT:_________________________________
APPROVED:______________ DISAPPROVED:__________________
PARISH PRESIDENT:______________________________________
RETD/SECRETARY:_______________________________________
AT:_______________ RECD BY: _____________________________