2005-0317
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(BOND COUNSEL)
Ordinance No. 05-________
Title
An ordinance approving the execution and delivery of the documents referred to herein relating to the amendments of the Installment Sale Agreement delivered in connection with the Parish of St. Charles, State of Louisiana Environmental Revenue Bonds (Louisiana Power & Light Company Project) Series 1993-B described herein; authorizing the Parish President and the Secretary of the St. Charles Parish Council to execute any and all documents in connection with the amendments; and providing for other matters in connection with the foregoing.
Body
WHEREAS, the Parish of St. Charles, State of Louisiana (the "Issuer") previously issued $25,000,000 of its Environmental Revenue Bonds (Louisiana Power & Light Company Project) Series 1993-B (the "Bonds"), on behalf of Louisiana Power & Light Company, a Louisiana corporation; and
WHEREAS, Entergy Louisiana, Inc. (the “Company”) is the successor to Louisiana Power & Light Company; and
WHEREAS, the Company has requested that the Issuer enter into an amendment to the Installment Sale Agreement dated as of December 1, 1993 for the Bonds (the "Sale Agreement") in order to permit references in the Sale Agreement to the corporate nature of the Company's existence to give effect to a consolidation of the Company with, or merger of the Company with or into, or sale or other transfer of all or substantially all of its assets, as the case may be, be deemed to refer to the successor corporation, which may include a limited liability company; and
WHEREAS, Section 11.5 of the Sale Agreement provides that the Sale Agreement may not be effectively amended, changed or modified, altered or terminated without the written consent of the Trustee under the Trust Indenture between the Issuer and JP Morgan Chase Bank, N.A. (formerly First National Bank of Commerce), as trustee (the "Trustee"), dated as of December 1, ...
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