2008-0490
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO.
Title
A resolution approving the issuance, sale and delivery of $8,500,000 of Certificates of Indebtedness of Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana.
Body
WHEREAS, Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana (the "District") proposes to issue $8,500,000 of Certificates of Indebtedness (the "Certificates") for the purpose of paying the current expenses of the General Fund; and,
WHEREAS, the District has requested that this Parish Council approve the issuance, sale and delivery of said Certificates of the District; and,
WHEREAS, as required by Article VI, Section 15 of the Constitution of the State of Louisiana of 1974, it is now the desire of this Parish Council to approve the issuance of said Certificates of the District.
NOW, THEREFORE, BE IT RESOLVED by the St. Charles Parish Council, acting as the governing authority of the Parish of St. Charles, State of Louisiana, that:
SECTION 1. In compliance with the provisions of Article VI, Section 15 of the Constitution of the State of Louisiana of 1974, and in accordance with the request of the Board of Commissioners of Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana, this Parish Council hereby approves the issuance, sale and delivery of $8,500,000 of Certificates of Indebtedness of said District, said Certificates to mature not later than March 1, 2010, be secured by and payable from the revenues of the District, as provided by Sections 745 to 748, inclusive, of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority. The District's outstanding Certificates of Indebtedness, Series 2008A and 2008B will be repaid before any new certificates are issued and no certificates will be delivered until the year 2009.
SECTION 2. The Parish of St. Cha...
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