2011-0413
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. ___________
Title
A resolution making application to the State Bond Commission for consent and authority to issue, sell and deliver not exceeding $12,750,000 of General Obligation Refunding Bonds of the Parish of St. Charles, State of Louisiana, all in the manner provided for by Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority; providing for the appointment and employment of bond counsel; and providing for other matters in connection therewith.
Body
NOW, THEREFORE, BE IT RESOLVED by the Parish Council of the Parish of St. Charles, State of Louisiana, acting as the governing authority of the Parish of St. Charles, State of Louisiana (the Issuer), that:
SECTION 1. Preliminary Approval of Refunding Bonds. Preliminary approval is given to the issuance of not exceeding $12,750,000 of General Obligation School Bonds of the Issuer (the Refunding Bonds), to bear interest at a rate or rates not exceeding six percent (6%) per annum, to mature no later than March 1, 2019, to be sold at a price of not less than 95% of the par value thereof, all in the manner provided for by Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority supplemental thereto, for the purpose of refunding all or a portion of the Issuer's outstanding (i) General Obligation Bonds, Series 1997 and (ii) General Obligation Bonds, Series 1998, and paying the costs of issuance of the Refunding Bonds, which Refunding Bonds shall be payable from and secured by unlimited ad valorem taxes now being levied and collected annually in excess of all other taxes on all the property subject to taxation within the territorial limits of the Issuer.
SECTION 2. Employment of Bond Counsel. This School Board finds and determines that a real necessity exists for the e...
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