2025-0099
INTRODUCED BY: MATTHEW JEWELL, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. __________
Title
A resolution giving preliminary approval to the issuance of not to exceed Ten Million Dollars ($10,000,000) of Taxable Limited Tax Bonds (DEQ), of the Parish of St. Charles, State of Louisiana, and providing for other matters in connection therewith.
Body
BE IT RESOLVED by the St. Charles Parish Council (the "Governing Authority"), acting as the governing authority for the Parish of St. Charles, State of Louisiana, that:
SECTION 1. Preliminary Approval of the Bonds. Preliminary approval is given to the issuance of not exceeding Ten Million Dollars ($10,000,000) of Taxable Limited Tax Bonds (DEQ) (the "Bonds") of the Parish of St. Charles, State of Louisiana (the "Parish"), pursuant to Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority (the "Act"), for the purpose of acquiring, constructing and improving wastewater facilities and systems in the Parish, including those owned and operated by Consolidated Waterworks and Wastewater District No. 1 of the Parish of St. Charles, Louisiana, and paying the costs of issuance thereof, said Bonds to be payable from and secured by an irrevocable pledge and dedication of the funds to be derived by the Parish from the levy and collection of a 2.07 mills tax authorized at an election held on May 2, 2015 (such rate being subject to adjustment from time to time due to reassessment), which the Parish is authorized to impose and collect through 2044 (the "Tax"). The Bonds will bear interest at a rate or rates not to exceed ninety-five hundredths of one percent (.95%) per annum, inclusive of any administrative fee charged by the holder(s) of such bonds in connection therewith, and will mature no later than March 1, 2045.
SECTION 2. State Bond Commission. Application is hereby made to the State ...
Click here for full text