2022-0094
INTRODUCED BY: MATTHEW JEWELL, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. __________
Title
A resolution approving the terms of a Loan and Pledge Agreement to be executed in connection with the sale of a Limited Tax Bond to the Louisiana Department of Environmental Quality by the Parish of St. Charles, State of Louisiana and accepting the obligations of the District set forth therein.
Body
WHEREAS, the St. Charles Parish Council (the "Council"), acts as the governing authority of the Consolidated Waterworks and Wastewater District No. 1 of the Parish of St. Charles, Louisiana (the "District"); and,
WHEREAS, this Council, acting as the governing authority for the Parish of St. Charles, State of Louisiana (the "Parish") intends to consider adopting an ordinance (the "Ordinance") providing for the issuance of its not exceeding Ten Million Dollars ($10,000,000) Taxable Limited Tax Bond (the "Bond") of the Parish for the purpose of acquiring, constructing and improving wastewater facilities and systems in the Issuer, including those owned and operated by Consolidated Waterworks and Wastewater District No. 1 of the Parish of St. Charles, Louisiana, and paying the costs of issuance thereof; and,
WHEREAS, the Ordinance will authorize the sale of the Bond to the Louisiana Department of Environmental Quality (the "Department"); and,
WHEREAS, the Ordinance will also authorize and approve a Loan and Pledge Agreement (the "Agreement") to be executed in connection with the sale of the Bond to the Department; and,
WHEREAS, the District now operates and maintains the Parish's sewerage system; and,
WHEREAS, in order for the Parish to avail itself of the benefits of issuing the Bond, it is necessary for the District to approve the terms of the Agreement and accept the obligations of the District set forth therein.
NOW, THEREFORE BE IT RESOLVED by the Council, acting as the governing authority of the District, that:
SECTION 1. T...
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