2010-0369
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
ORDINANCE NO.
Title
An ordinance authorizing the issuance and sale of not exceeding $300,000,000 of Parish of St. Charles, State of Louisiana Gulf Opportunity Zone Revenue Bonds (Valero Energy Corporation Project) Series 2010; approving the form and authorizing the execution and delivery of a Financing Agreement and an Indenture of Trust to secure said Bonds; approving the form and directing the execution and delivery on behalf of said Parish of the Bond Purchase Agreement which sets forth the terms and conditions under which said Bonds are being sold; approving the Official Statement for said Bonds; applying to the Secretary of Economic Development; authorizing the appropriate officers of said Parish to execute the aforementioned instruments and all other documents and certificates deemed necessary in connection therewith; and providing for other matters with respect to the foregoing.
Body
WHEREAS, the Parish of St. Charles, State of Louisiana (the "Issuer" or the "Parish"), is authorized and empowered by law, including particularly the provisions of Sections 991 to 1001, inclusive, of Title 39 of the Louisiana Revised Statutes of 1950, as amended (the "Act"), to issue its revenue bonds for the purpose of using the funds derived from the sale thereof to acquire, purchase, construct or improve and sell, lease or otherwise dispose of industrial plant sites and industrial plant buildings, and necessary property and appurtenances thereto; and
WHEREAS, Valero Energy Corporation, a Delaware corporation (herein, together with any related entity, referred to as the "Company"), has requested that the Issuer issue its revenue bonds the purpose of financing a portion of the costs of the acquisition, construction and installation of an expansion of its existing refinery located in St. Charles Parish including a Hydrocracker unit (HCU) to increase the complexity and volume of the...
Click here for full text