2019-0169
INTRODUCED BY: LARRY COCHRAN, PARISH PRESIDENT
(BOND COUNSEL)
ORDINANCE NO.
Title
An ordinance providing for the issuance and sale of not exceeding Five Hundred Forty Thousand Dollars ($540,000) of Sales Tax Revenue Refunding Bonds, Series 2019 (the "Bonds"), of the Parish of St. Charles, State of Louisiana; providing for the sale and issuance of the Bonds, awarding said Bonds to the purchaser thereof, fixing certain details of the Bonds, and providing for other matters in connection therewith.
Body
WHEREAS, the St. Charles Parish Council (the "Governing Authority"), acting as the governing authority of the Parish of St. Charles, State of Louisiana (the "Issuer"), adopted Ordinance No. 07-5-2 on May 7, 2007 authorizing the issuance of Nine Hundred Twenty Thousand Dollars ($920,000) of Sales Tax Revenue Bonds, Series 2007 (the "Series 2007 Bonds"), payable from a pledge and dedication of a 1/8% sales and use tax approved at an election held on December 8, 1979 (the "Tax"); and,
WHEREAS, the Issuer has found and determined that the refunding of $555,000 of the Series 2007 Bonds, consisting of those Series 2007 Bonds which mature August 1, 2020 to August 1, 2031, inclusive (the "Refunded Bonds"), would be financially advantageous to the Issuer; and,
WHEREAS, pursuant to Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950 (the "Act"), as amended, and other constitutional and statutory authority, the Issuer desires by this ordinance to provide for the issuance and sale of not exceeding Five Hundred Forty Thousand Dollars ($540,000) principal amount of its sales tax refunding bonds, to be designated "Sales Tax Revenue Refunding Bonds, Series 2019" (the "Bonds"), for the purpose of refunding the Refunded Bonds and paying the costs of issuance therefor, and to specify the terms and conditions of the Bonds; and,
WHEREAS, the Issuer desires to amend Resolution No. 6409 adopted on May 20, 2019 (the "Preliminary Resolution") to provide that the...
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