2013-0001
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. __________
Title
A resolution giving preliminary approval to the issuance of not exceeding Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000) of Sales Tax Refunding Bonds, of the Parish of St. Charles, State of Louisiana; making application to the State Bond Commission for approval of said Bonds; and providing for other matters in connection therewith.
Body
WHEREAS, pursuant to the provisions of Sub-Part F, Part III, Chapter 4, of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, the Parish of St. Charles, State of Louisiana (the "Issuer") has heretofore issued $4,735,000 of Sales Tax Bonds, Series 2003 (the "Series 2003 Bonds"); and,
WHEREAS, in order to provide debt service savings, the Issuer desires to refund all or any portion of the Series 2003 Bonds pursuant to the provisions of Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority (the "Act"), through the issuance of its refunding bonds; and,
WHEREAS, pursuant to the Act, and subject to the approval of the State Bond Commission, the Issuer desires to accomplish the refunding by authorizing the issuance of not exceeding Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000) of its Sales Tax Refunding Bonds (the "Bonds"), to be payable solely from and secured by an irrevocable pledge and dedication of the avails or proceeds of the Issuers three-eighths of one percent (3/8%) sales and use tax authorized at the election held on April 30, 1983 (the “Tax”); and,
WHEREAS, the Issuer desires to make formal application to the State Bond Commission for approval of the issuance of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the St. Charles Parish Council (the "Governing Authority"), acting as the governing authority of the Parish of St. Charles, S...
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