2007-0327
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. ___________
Title
A resolution authorizing the advertising for bids for the purchase of Twenty-Seven Million Four Hundred Thousand Dollars ($27,400,000) of Public Improvement Bonds, Series ST-2008, of the Parish of St. Charles, State of Louisiana; making application to the State Bond Commission to issue, sell and deliver said bonds; and providing for other matters in connection therewith.
Body
BE IT RESOLVED by the St. Charles Parish Council, acting as the governing authority of the Parish of St. Charles, State of Louisiana (the "Issuer"), that:
SECTION 1. Advertisement for Sale. The Chairman and Secretary of the Issuer be and he is hereby empowered, authorized and directed to advertise in accordance with the provisions of law for sealed bids or for electronic bids via PARITY7 for the purchase of Twenty-Seven Million Four Hundred Thousand Dollars ($27,400,000) of Public Improvement Bonds, Series ST-2008, of the Issuer (the "Bonds"). The Bonds will be issued under the authority conferred by Sub-Part F, Part III, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority supplemental thereto, for the purpose of constructing, acquiring, improving drains, drainage canals, pumps and pumping plants, dykes and levees and related machinery and equipment for the West Bank Hurricane Protection System, funding a reserve for the Bonds, and for paying the issuance costs thereof. The Bonds shall be payable solely from and secured by, equally with the Issuer=s outstanding Public Improvement Refunding Bonds, Series ST-2005 (the AOutstanding Parity Bonds), an irrevocable pledge and dedication of the avails or proceeds of the Issuer's one percent (1%) sales and use tax now being levied and collected by the Issuer pursuant to an election held in the Issuer on July 16, 1988.
SECTION 2. Basic Terms of Bonds. ...
Click here for full text