2019-0148
INTRODUCED BY: LARRY COCHRAN, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO.
Title
A resolution giving preliminary approval to the issuance of not to exceed Five Hundred Seventy-Five Thousand Dollars ($575,000) of Sales Tax Revenue Refunding Bonds of the Parish of St. Charles, State of Louisiana, in one or more series; making application to the State Bond Commission for approval of said Bonds; and providing for other matters in connection therewith.
Body
WHEREAS, pursuant to the authority of Sub-Part F, Part III, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended, an election was held in the Parish of St. Charles, State of Louisiana on December 8, 1979, to authorize the levy of a 1/8% sale and use tax and the issuance of sales tax revenue bonds payable therefrom (the "Tax"); and,
WHEREAS, pursuant to such authority, the Parish has issued and now has outstanding $590,000 of Sales Tax Revenue Bonds, Series 2007 (the Series 2007 Bonds"); and,
WHEREAS, this St. Charles Parish Council (the "Council"), acting as the governing authority for the Parish of St. Charles, State of Louisiana (the "Issuer"), desires to accomplish the refunding of the Series 2007 Bonds by authorizing the issuance of not exceeding Five Hundred Seventy-Five Thousand Dollars ($575,000) of its of Sales Tax Revenue Refunding Bonds, in one or more series and for paying the issuance costs thereof, said Bonds to be payable from and secured by an irrevocable pledge and dedication of the funds to be derived by the Tax; and,
WHEREAS, the Issuer desires to make formal application to the State Bond Commission for approval of the issuance of the Bonds.
NOW, THEREFORE, BE IT RESOLVED, by the St. Charles Parish Council, acting as the governing authority of the Issuer, that:
SECTION 1. Preliminary Approval of the Bonds. Preliminary approval is given to the issuance of not to exceed Five Hundred Seventy-Five Thousand Dollars ($575,000)of Sales Tax Revenue Refun...
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