2009-0453
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO.
Title
A resolution making application to the State Bond Commission for consent and authority to issue, sell and deliver not exceeding $6,500,000 of Public Improvement Sales Tax Bonds, Series 2010, 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 of the Parish of St. Charles, State of Louisiana (the "Parish"), 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 $6,500,000 of Public Improvement Sales Tax Bonds, Series 2010 of the Parish of St. Charles, State of Louisiana (the "Bonds"), to bear interest at a rate or rates not exceeding four percent (4%) per annum, to mature over a period of not exceeding 22 years, and to be sold at a price not less than 96% of the par value thereof, all in the manner provided for by Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (R.S. 39:1430) of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority supplemental thereto, for the purpose constructing, acquiring and improving capital improvements for the Issuer (including but not limited to sewers and sewerage disposal works, drains, drainage canals, pumps and pumping plants, dykes and levees), as established and set forth in the Issuers then current capital budget adopted after public hearings in the manner required by the St. Charles Parish Home Rule Charter, paying the costs of issuance of the Bonds and establishing reserves for the payment thereof, which Bonds shall be secured by and payable solely from and secured by an irrevocable pledge and ...
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